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Weekly Update 24
๐ This company is up 32,000%, Gmail is dead, and more


TGIF, everybody! Here are our top stories of the week:

#SuperApps
๐ Super apps are the latest trend tech giants are using to make people stay on their apps for longer.
๐ฆธ Companies are cramming more features into their apps to branch out from their core functionality. E.g., a fintech super app could add BNPL (buy now pay later), while a social media app could incorporate shopping.
โก Uber, Spotify, and Snap are among tech firms touting the concept; Elon Musk also mentioned it while discussing his plans for Twitter.

Why be an app when you can be a super app?
๐ฌ China's WeChat is the first successful instance: originally a messaging app, it now allows billions of users to perform day-to-day tasks, from transferring money to divorcing(!) a significant other.
๐ป Snapchat is the leader of the Super App movement in the West. Its mini-apps enable users to play games, communicate using different formats, and even buy movie tickets.
๐ฌ Like a food court inside a shopping center prompts you to pop in for a bite, more app features under the guise of convenience want to capture our time, attention, and money.
๐คณ The aim is to become one of the 30 apps on your smartphone screen and, more specifically, one of the nine apps used daily.
๐ฐ People are also interested โ super apps could unlock $3.2T in consumer spending annually.

More data = more dollars
๐ค Tech experts say the super app strategy can potentially create the first $10T business.
๐ฏ Super apps unlock the potential for companies to accumulate even more consumer data, which means more in-depth knowledge to hand to advertisers to create more targeted messaging.
However,
๐ Building multiple services into one app could mess up device storage and battery life.
โณ An overstuffed app could lower app reaction time, a feature that is extremely important if companies want to retain customers' attention.

If you have any feedback, drop it here. Have a great weekend!