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You can’t ride the wild mustangs at the Tahoe-Reno Industrial Center in Nevada, but you’re nearly guaranteed to see bands of them loping over sagebrush in a scene that feels straight out of the 1800s.
At least until the dust clears and Tesla’s 5.3-million-square-foot “Gigafactory” comes into focus. READ MORE
After losing an epic battle with Mark Zuckerberg over ownership of Facebook and being shunned in Silicon Valley, CAMERON and TYLER WINKLEVOSS are back—this time as budding Bitcoin billionaires at the center of the future of money, the creative economy and quite possibly a new operating model for Big Tech itself. READ MORE
Successful companies actively manage their businesses through periods of economic growth, downturn, and recovery. They do so by innovating, making strategic shifts, rewiring existing operations, reallocating resources, entering new business lines, and restructuring existing ones.
For most companies, joint ventures and other partnerships are a critical part of the equation. READ MORE
ELON Musk's "futuristic" $55M Las Vegas public transit loop has been panned as "just humans driving cars slowly in a tunnel".
Plans had promised to whisk passengers in driverless Tesla vehicles at speeds of 155mph, turning a typically 15-minute-long walk into a two-minute ride. READ MORE
The U.S. economy is at an "inflection point" with expectations that growth and hiring will pick up speed in the months ahead, but some risks remain, particularly any resurgence in the coronavirus pandemic, Federal Reserve Chair Jerome Powell said.
In a brief preview of a longer interview with CBS' news magazine program "60 Minutes" set to air in full on Sunday night, Powell echoed both his recent optimism about the economy and a now-familiar warning that COVID-19 remains the main risk. READ MORE
This is Job Creation Rule #1: businesses invest in growth and hiring when they can forecast a profit. But that’s hard to do when the Biden administration’s message to American businesses boils down to: "We’re going to increase your labor and energy costs, unionize your business, and then over-regulate and over-tax you." READ MORE
Job growth boomed in March at the fastest pace since last summer as stronger economic growth and an aggressive vaccination effort contributed to a surge in hospitality and construction jobs, the Labor Department reported Friday.
Nonfarm payrolls increased by 916,000 for the month while the unemployment rate fell to 6%. READ MORE
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
U.S. manufacturers expanded in March at the fastest pace in 37 years, a sign of strengthening demand as the pandemic wanes and government emergency aid flows through the economy. READ MORE
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
The press on both sides of the Atlantic was abuzz this past week about an internal document from Goldman Sachs, apparently leaked to many outlets, describing overworked junior analysts who are at the point of exhaustion. Lots of tut-tutting about what has gone wrong in a system that drives these young people to physical and mental health problems. READ MORE
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
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
A coalition of AI researchers and health care professionals in fields like infectious disease, radiology, and ontology have found several common but serious shortcomings with machine learning made for COVID-19 diagnosis or prognosis. READ MORE
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 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
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
A billboard erected in New York City slams President Joe Biden’s reported consideration to increase taxes on small businesses, saying “HELL NO!”
Speaking on “Fox & Friends” on Wednesday, HM Manufacturing president Nicole Wolter warned tax hikes “would be a really bad call.” READ MORE