Dec 16, 2020 (Financial News Media via COMTEX) -- FN Media Group Presents Oilprice.com Market Commentary
London - December 2, 2020 – Nearly 400 years ago, Parliament passed an obscure law in London, which triggered the start of an estimated $5.7 trillion industry, the estimate of value that Uber puts on all passenger vehicle miles and all public transportation miles in all countries globally. Mentioned in today's commentary includes: BlackRock /zigman2/quotes/207946232/composite BLK +1.27% , Microsoft Corporation /zigman2/quotes/207732364/composite MSFT +0.55% , Google /zigman2/quotes/202490156/composite GOOGL +1.15% , Facebook, Inc. /zigman2/quotes/205064656/composite FB -0.58% , Lyft, Inc. /zigman2/quotes/208999293/composite LYFT +2.44% .
This 3-page government document set in motion the first regulations in the budding Hackney carriage industry.At the time, only small innkeepers and their visitors had access to the services. But since then, it's transformed the way people around the world work and travel every day...Giving an estimated 540 million people in 2021 the ability to catch a ride anywhere they'd like at a moment's notice, without owning their own vehicle. And now, the $5.7 trillion passenger industry is set for possibly the biggest disruption it's seen since the launch of Uber. That's because a $30 trillion mega-trend has been slowly building over the last several years.
Forbes claims, "[This Mega-trend] Gains Popularity and Gathers Momentum."
CNBC says it "Sustainable investing is surging."
Barron's is touting, "[It's] Turning Mainstream."
Big Four accounting firm, PwC, says that 77% of institutional investors will stop buying non-ESG products entirely by 2022. And one company from Canada's Silicon Valley is already showing success as part of this shift: Facedrive (FD,FDVRF).
Facedrive's shares have soared an incredible 570% over the last year. But given the breakneck speed at which they're moving, signing agreements with A-list celebrities, government agencies, and even Big Tech giants all in 2020 alone, it could be just the beginning.
This $30 Trillion ESG Mega-Trend Could Topple Industry Giants
It seems that nearly everyone's getting on board the $30 trillion bandwagon including Big Tech. Apple, Amazon, Facebook, Google, and Microsoft are all making the shift in this direction, along with many other major companies. In short, ESG investing focuses on delivering good returns... while also doing what's best for the environment and for its people.
This line of thinking fits squarely in line with Facedrive's philosophy of "people and planet first."
With the momentum ESG investing is seeing, some of the biggest names in Wall Street have also started pouring money in hand over fist. That includes BlackRock, the world's largest asset manager, who's stating that ESG has triggered a "fundamental reshaping of finance." They've already invested over $90 billion in ESG assets to date. But they're planning to more than 10x that number over time, as they've announced they plan to boost that to $1.2 trillion by the year 2030. And with this trend sweeping across the broader markets, ridesharing has fallen directly in the crosshairs.
While it was expected to lower pollution, studies show ridesharing actually produced nearly 70% more pollution. But Facedrive saw this trend coming years ago and put themselves in the perfect position to capitalize on it.
With Facedrive, users can hail a ride from an electric, hybrid, or gas-powered vehicle, all without paying an extra premium for the option. Once they get to their destination, the in-app algorithm kicks in, calculating how much CO2 was created during the journey. Then it sets aside a portion of the fare to plant trees, offsetting the carbon footprint from the ride.
For drivers, Facedrive's approach is a godsend when compared to Uber, which has been accused of price-gouging and taking over 50% of the cut for themselves at times. Facedrive, on the other hand, lets their drivers keep 85% of the fare and 100% of their tips. With riders and drivers both winning in Facedrive's model, it's the perfect response ahead of this $30 trillion ESG boom.
While Facedrive has already seen success over the last year in its ridesharing business, they've also found creative ways to multiply that success this year. On top of becoming a trusted brand in ridesharing, they've also seized opportunities to expand, aiming to become a global brand.
For their Facedrive Social and Facedrive Food verticals, they've developed popular apps that are already taking off. Their social app, HiQ, has been downloaded over 2 million times over the last 6 months alone and shows no signs of slowing down. They've also done their part to help with the coronavirus pandemic through their vertical, Facedrive Health. They partnered up with the University of Waterloo and MT>Ventures to create TraceSCAN, a wearable technology used to help slow or stop the spread of the virus.
Through Bluetooth technology, it offers much-needed contact tracing technology for those without cell phones. That includes a wide range of people: children, senior citizens, low-income individuals, and employees not able to use phones on the job. And Facedrive has signed major partnerships and agreements with both the government of Ontario and Canada's largest airline, Air Canada, to use this breakthrough technology.
Making Deals and Growing at a Shocking Rate
Facedrive's success and their agreements with the biggest names have only been further proof that this $30 trillion ESG mega-trend is for real. And the news just continues to roll in.
In August, they signed a partnership with sports prediction platform, Tally, founded by Super Bowl-winning quarterback, Russell Wilson. With this bringing them firmly into the massive US market, it also helps them grow worldwide by helping people connect at a time when "social distancing" has been challenging for many.
Then, just a month later, they acquired the electric vehicle company, Steer, from the largest clean energy producer in the United States. Steer's subscription model for EV cars is flipping the traditional car ownership model on its head. And that fits right in line with Facedrive, which is aiming to be a fierce competitor to Uber in the ridesharing markets.
Then in December, Air Canada announced they would be expanding their pilot program with Facedrive for their contact tracing technology, TraceSCAN. Their initial test of the technology showed a 99% adoption rate and over 30,000 interactions with positive results. This is why they announced they would be expanding this program and doing a larger rollout in 2021.
It seems that Facedrive is landing major partnerships and acquisitions just about every month, which has helped them grow exponentially over the last year. That's why many early investors are looking at Facedrive to become the rideshare of the future — grabbing hold of this $30 trillion ESG mega-trend.
Here are just a few other companies hopping on the ESG trend: