Hi there,

Here is this week in charts.

Wear and tear. Smartwatch adoption is occurring nearly as fast as early mobile phone adoption. Last year, an estimated 1 in 4 Americans owned a smartwatch or fitness tracker. The rise of wearables, which can gather millions of data points on a user each day, will likely have a “profound” effect on health and lifestyle. Beyond healthcare and wellness, wearables have implications for manufacturing, payments, life insurance, fashion, and more.

Cloudy with a chance of competition. Amazon has maintained its one-third share of the growing cloud infrastructure market for years. At the same time, Microsoft is creeping closer. Last quarter, Microsoft nabbed 22% of public cloud revenue, up from 20% the year before. Google also gained nearly a percentage point. As more industries adopt cloud computing, tech giants are competing on everything from cloud security to quantum computing services.

TKO. As public insurtechs have floundered, insurtech funding fell 58% from last quarter’s record-breaking spike to $2.2B. Q1’22 was the lowest quarter for funding in almost two years, though deals remained flat quarter-over-quarter. Amid the slowdown, insurtech startups saw record M&A activity. Twenty-six insurtech startups exited via M&A in the first quarter, up 73% from Q4’21. 

Move it. Uber’s revenue more than doubled year-over-year to $6.9B in the first quarter as it continued to recover from its pandemic lows. The company has been able to ride out driver shortages plaguing its rival Lyft in part thanks to growth in Uber Eats, which has brought in delivery drivers who can also participate in Uber’s mobility business. Uber’s Freight business, which it launched in 2017, has also contributed to revenue growth.

🟩🟩🟩🟩🟩. Tweets mentioning the viral web-based game Wordle grew exponentially on the platform, from 400 tweets a day in December to 500K tweets a day at its peak. Activity has receded since then. The game, which was bought by The New York Times in January, reportedly “brought an unprecedented tens of millions of new users to The Times” in the first quarter.

Smh. 26? This scale is bonkers. And what are the green dots? 

I love you.

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