Companies ripping Georgia do business in China, silent on human rights violations

Multiple companies attacking Georgia’s new election laws have been hesitant to speak out against China's human rights violations as they continue to do business there.

Apple CEO Tim Cook recently blasted the new law, following Delta Airlines CEO Ed Bastian claiming the law is “based on a lie” and calling it "unacceptable." Coca-Cola CEO James Quincey also called the law "unacceptable" and a step in the wrong direction. READ MORE

Abolish the Corporate Income Tax

Today’s reform will be tomorrow’s problem, goes an old political science axiom. Consider how the Interstate Commerce Commission, created in 1887 to end monopoly abuses by railroads on their branch lines, evolved within a few decades into a railroad cartel. Not until 1980 was the ICC stripped of its power to set rates, allowing transportation companies to begin competing again. READ MORE

Elizabeth Warren wealth tax would shrink US economy by 1.2%, according to a new analysis

Sen. Elizabeth Warren's plan to tax the net worth of the wealthiest Americans could reduce U.S. economic growth by 1.2% over the next 30 years, according to a new analysis published this week.

The so-called "ultra-millionaire tax" would slash the country's Gross Domestic Product (GDP) -- the market value of all the goods and services produced within the U.S. -- by 0.6% in 2031 and 0.8% in 2040, according to the Penn Wharton Budget Model analysis. The tax would also have a detrimental effect on wages, reducing the hourly rate by 0.7% in 20313, 1% in 2040 and 1.2% in 2050, the model shows. READ MORE

Bill Gates-backed startup will soon help power a giant mine

Heliogen, the Bill Gates-backed clean energy startup, is bringing its field of mirrors to the Mojave Desert.

In a bid to bring carbon-free power to heavy industry, Heliogen announced Wednesday that mining behemoth Rio Tinto plans to deploy the startup’s breakthrough solar technology at California’s largest open pit mine, located in Boron. Heliogen says this will be the first concentrated solar technology used to power a mine in the United States, and perhaps the world.

Heliogen will use artificial intelligence and an array of 40,000 computer-vision-controlled mirrors to harness the power of the sun, almost like a smart magnifying glass. The first system at Rio Tinto will be the size of about 100 footfall fields, Heliogen told CNN Business. READ MORE

It is time to negotiate global treaties on artificial intelligence

The U.S. National Security Commission on Artificial Intelligence recently made the news when its members warned that America faces a national security crisis due to insufficient investment in artificial intelligence and emerging technologies. Commission Vice Chair Robert Work argued “we don’t feel this is the time for incremental budgets … This will be expensive and requires significant change in the mindset at the national, and agency, and Cabinet levels.” Commission Chair Eric Schmidt extended those worries by saying “China is catching the US” and “competition with China will increase.” READ MORE

Amazon delivery drivers have to consent to AI surveillance in their vans or lose their jobs

Amazon is well-known for its technological Taylorism: using digital sensors to monitor and control the activity of its workers in the name of efficiency. But after installing machine learning-powered surveillance cameras in its delivery vans earlier this year, the company is now telling employees: agree to be surveilled by AI or lose your job.

As first reported by Vice, Amazon delivery drivers in the US now have to sign “biometric consent” forms to continue working for the retailing giant. Exactly what information is being collected seems to vary based on what surveillance equipment has been installed in any given van, but Amazon’s privacy policy (embedded below) covers a wide range of data. READ MORE

Artificial Intelligence Could Have Helped Alleviate Suffering From Texas Blackouts

A powerful once-in-a-decade winter storm in February resulted in the near total collapse of Texas’ power grid, resulting in residential and commercial areas suffering days-long blackouts, which led to at least 57 deaths and billions of dollars in property damage across the state’s 254 counties.

In addition, some Texans who did have power are facing overcharges of about $16 billion for electricity consumed during the weeklong crisis, according to a watchdog for the Electric Reliability Council of Texas (ERCOT), the quasi-governmental entity that oversees the Lone Star State’s power grid. READ MORE

Moderna to create dual COVID-19, flu vaccine, CEO says

Moderna, the maker of the second COVID-19 vaccine to see emergency use approval in the U.S., is now looking to create a dual vaccine against the flu and the novel virus, the company’s chief executive recently said. 

Moderna CEO Stephane Bancel said Tuesday that such a jab could be ready for use in a couple of years, though it would be subject to standard regulatory approval from the U.S. Food and Drug Administration (FDA), not emergency use as its existing coronavirus vaccine was, he said during The Wall Street Journal Health Forum.  READ MORE

New reasons to think the work-from-home revolution is overblown

One year after the Covid-19 pandemic forced millions of workers to start clocking in from home, many companies are thinking about how to bring their employees back into the office.

A number of firms think the past 12 months have proven the merits of remote work, and have pledged more flexible schedules. But increasingly, there are signs the work-from-home revolution could have its limits. READ MORE

Bernie Sanders tells Elon Musk to 'focus on Earth' and pay more tax rather than spend his wealth on space travel

Sen. Bernie Sanders responded to Tesla CEO Elon Musk's claim that he needs his vast wealth to fund interplanetary travel by saying that "we need to focus on Earth" and raise taxes on higher earners to tackle "obscene" inequality in the US.

After Sanders criticized his wealth last week, Musk, one of the wealthiest people in the world, said he would use his fortune to fund space exploration. READ MORE

Goldman Sachs CEO responds to analyst survey describing 'inhumane' workplace

Goldman Sachs' CEO says the bank will strengthen enforcement of its "Saturday rule" and speed up hiring of junior bankers after a group of analysts described "inhumane" working conditions, including 95-hour weeks and instances of workplace abuse.

"This is something that our leadership team and I take very seriously," CEO David Solomon said in a voice message sent to staff on Sunday. READ MORE