Crack open a two-litre of Pepsi before locking into a video game and watching DVD after DVD..."... the year? 2020. The world’s last standing Blockbuster - that's right Netflix, they're not done yet - is offering couch-masters the opportunity to spend a night in the last-standing store by booking through Airbnb. Now here's your weekly round-up of the business and finance news you need-to-know. | In a flash Lyft's Crash LandingAirbnb Finally Going PublicTesla's Big Split Lures Investors Lyft's Crash Landing | What happened and why... More crash landing than Lyft-off. Lyft (-2.54%) has spent most of 2020 in the slow lane as business dries up and the ride-hailing challenger is left with little to shout about. Yesterday, Lyft finally hit the headlines but for all the wrong reasons... 🔭 We saw this coming... Sales went into reverse as sales sank -60% as coronavirus kept passengers in full stranger-danger mode. Active ridership also fell 60% to 8.7 million active users (compared to 22m this quarter last year).🚖 Lyft at the end of the tunnel... Lyft execs pointed to a rapid improvement in July that saw rides pop 78%. But that wasn't even the bad news... Just as customers started updating their dust-caked rail-hailing apps, Lyft has joined Uber, by threatening to shut down its operations in California over the question of drivers’ employment status. Valley... Uber and Lyft say most drivers prefer classification as 'independent contractors', because of the flexibility to set their own hours.Vs the Unions... Labour unions and officials contend this deprives them of traditional benefits like health insurance, workers’ compensation, bean bags & yoga pods. Uber and Lyft, along with DoorDash, are funding a tech ballot measure - called Proposition 22 (Prop 22) - that would override standing legislation by classifying ride-hail drivers and other gig economy workers as independent contractors. If drivers were classified as employees, Uber and Lyft would be responsible for paying them minimum wage, overtime compensation, paid rest periods, and reimbursements for the cost of driving for the companies, including personal vehicle mileage. But as independent contractors, drivers receive none of these benefits. | The Takeaway The ballot measure is very much Plan B for Lyft and only likely to take centre stage if their efforts to overturn the state’s legal challenges fail. For the time being, Lyft & co are hoping their absence will make customer hearts grow fonder and load them with some leverage with the state negotiations. For investors... When Lyft landed, the stock was temporarily trading at $78 a share but since August last year, it has been a battle to win over investors. The stock is down 46% since February this year and while corona tells most of the story, the company's unwillingness to diversify and invest is keeping investors powder dry for now. Airbnb Going Public | What happened and why... Tumbling revenue and mounting losses = IPO O'clock. At least in Airbnb world. Thanks to the snoops at the Wall Street Journal, word got out that the home-sharing giant has tapped Morgan Stanley to lead their public share offering, with Goldman Sachs "playing a key role". Even before COVID-19 slammed the US, things weren’t exactly looking rosy. Airbnb racked up a $322 million loss in the first nine months of 2019. In a corona-economy, things only got worse... 🚰 Big leak... Growing costs due to COVID saw the home-sharing giant lose hundreds of millions as bookings tanked -96%.🤕 Painful gesture... The company chose to issue millions in refunds to hosts whose guests canceled their stays. But the latest update is just a top-line consequence of the business equivalent of going 12-rounds with Iron Mike - which is exactly what Airbnb did... In March... Airbnb's value fell from $31B to $26BThen, in April...Airbnb raised $1 billion of funding at a valuation of $18 billion... with a cheeky 10% interest rate attached and a verbal commitment to reduce costs.In May... the company laid off a quarter of its employees and pumped the brakes on plans to expand into TV and transportation. Airbnb has managed an initial rebound, however: bookings are up year over year and the company is painting an optimistic picture against a bleak backdrop. Arguing the trend towards staycations, locations within 200 miles, and the appetite for company off-sites. | The Takeaway The talk on Wall Street is we could see a listing sometime this year, though the exact timeline will depend on a review process and just how the market looks. A market that looks brutal right now... Hotel chain pain... There is leisure pain across the industry with Marriott and Hilton seeing sales plunge more than -70%, but Airbnb has less time on its side than those stalwarts. The silicon supremo is banking on investors' craving for IPO to keep the coffers topped up during this lean spell. Tesla's Big Split Lures Investors | What happened and why... A Tesla (+17.15%) stock split for the people. Tesla shares moved through the gears - as has become the norm in 2020 - to gain another 13% on Wednesday, adding more cushion to the company's position as the most valuable carmaker in the world. So, what has Tesla investors topping up (again)...? Split it... Tesla announced a 5-for-1 stock split (can you click it? yes you can). i.e. If you own 1 Tesla share trading at $1,640K like yesterday - come 21st August - you'll have 5 Tesla shares worth $328. #SameSame. Why...?It's cosmetic. For regular folk like me and you - AKA retail investors - the $300 price tag per share suddenly appears more accessible and in theory, brings on board small investors. So shares bounced... The stock pop demos some investors taking the announcement as a confident move. To others... it's puzzling, as many view the split as a largely cosmetic tweak that preys on psychology. Tesla shares have rallied +281% since 2020 got underway, with the stock price going from $443 to $1,631. Clearly Elon and co. think it is time to bring small fry back into the game. | The Takeaway Cosmetic move... Nasdaq's chief economist & all-round numbers guy, Phil Mackintosh, is at the ready. The economist's research showed that large-cap stock splits from 2012 to 2018 boosted valuations... and maximised wealth for employees. With more shares in the market, you have a more 'liquid' market for Tesla shares... and that is more than enough to excite Tesla investors right now.