Plus: Lyft’s bike-sharing business gains momentum. And the data center boom prevented hiring in July from slowing further. Julie Chang hosts.
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[00:00:01] Here's your afternoon TNB Tech Minute for Friday, August 7th. I'm Julie Chang for The Wall Street Journal. Live shopping marketplace Whatnot is now valued at $20 billion, nearly doubling its October valuation after raising $545 million in a new funding round. The Los Angeles-based platform hosts real-time video auctions for goods like sports cards, clothing and plants, taking a cut of each sale.
[00:00:28] At $20 billion, the app now has a higher valuation than established retailers like Best Buy, Lululemon and Wayfair. Whatnot said that its gross merchandise volume in the first half of 2026 exceeded the $8 billion it recorded in all of last year, and that the number of buyers on the platform has more than doubled over the past 12 months. Lyft's bike-sharing business is gaining momentum. The company recorded its best second quarter for rides.
[00:00:58] The unit, which operates bike-share systems in six U.S. cities, also broke daily, weekly, and monthly records in June. Lyft says more commuters are making use of the company's e-bikes, and events like the NBA Finals also provided a Lyft. And the data center boom prevented hiring from slowing further, providing a rare bright spot in Friday's jobs report.
[00:01:22] The construction sector added 22,000 rolls in July, with non-residential contractors and non-residential specialty trade contractors driving the gains. While overall U.S. construction spending is declining, investments in data centers and all the skilled laborers, such as electricians, they require, are ballooning. And that's it for your TNB Tech Minute. Tune in Saturday morning for the second installment of our special series, AI and the Blurring of Reality.