Apple's latest billion-dollar business: Venture capital?
 

Apple's latest billion-dollar business: Venture capital?
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Apple has a trendy new business that could impact the lives of millions and help it make big money in the future.

**, **t the Apple Watch. We're talking about Apple getting into venture capital.

On Thursday night, Apple shocked many by an**uncing a $1 billion investment in Didi Chuxing, the top ride-hailing service in China.

The investment re-ignited rumors about Apple's intentions to build a car and apparently even caused some relationship issues for the CEO of Uber and his girlfriend. Others framed it as a play to improve Apple's status in China, a key growth market.

But there's a more immediate and less discussed impact. Apple, a business with more than $200 billion in cash and marketable securities, is suddenly acting like a venture capital firm for the first time in years.* Read more...


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