Posts belonging to Category sharing economy



Elon Musk mulls mining venture for Tesla

Objective: produce electric car batteries

Tesla could go into the mining business in order to produce its batteries more quickly, Elon Musk has claimed.

The company is working on improving its battery production and technology, the chief executive said at the company’s annual shareholder meeting.

“We might get into the mining business, I don’t know. We’ll do whatever we can to make sure we can scale as fast as possible,” he said.

The California-based electric car company will also make a car which can drive 400 miles between charges.

https://finance.yahoo.com

Uber warns it may never make a profit

IPO filing indicates how far Uber remains from turning a profit

Technologies Inc has 91 million users, but growth is slowing and it may never make a profit, the ride-hailing company said on Thursday in its IPO filing.The document gave the first comprehensive financial picture of the decade-old company which was started after its founders struggled to get a cab on a snowy night and has changed the way much of the world travels.TheUber S-1 filing underscores Uber’s rapid growth in the last three years but also how a string of public scandals and increased competition from rivals have weighed on its plans to attract and retain riders.

The disclosure also highlighted how far Uber remains from turning a profit, with the company cautioning it expects operating expenses to “increase significantly in the foreseeable future” and it “may not achieve profitability.”

https://www.reuters.com/

Linus Torvalds Thinks Facebook Is A Disease

Geared to serve even the lowest common denominator

Fake News was crowned as the word of the year in 2017. In an era where we need quality journalism, social media sites are bent on destroying it. In a recent interview with Linux Journal’s first publisher, Robert Young, Linus Torvalds — Creator of Linux — revealed the true nature of social media.
Linus pulled no punches as he brandished social media websites like Facebook, Twitter, and Google as the enabler of bad behavior. Linus’ comments on the ‘liking and sharing’ model on Facebook hold weight as it degrades the quality of what we consume online.
According to Linus, Facebook’s clickbait content is geared to serve even the lowest common denominator. This type of content is designed only to provoke an emotional response, often of anger and outrage.

https://www.fossbytes.com/

Uber IPO Could Be One of Five Biggest NYSE Listings in History

Uber chooses the New York Stock Exchange

Uber Technologies has selected the New York Stock Exchange for its imminent initial public offering, handing the trading floor what could be one of the five biggest listings of all time, according to a person familiar with the matter, who asked not to be identified as the details aren’t public.

The ride-hailing giant is expected to publicly file for its offering in April, kicking off a listing that could value the company at as much as $120 billion and is likely to be the biggest of the year, people familiar with the plans have said previously. At that valuation, Uber would only have to float about 16% of its shares to make the top five, according to data compiled by Bloomberg.

https://www.fortune.com/

Facebook should be regulated like a cigarette company

The Social media needs to be regulated like every other industry

Election interference has opened the door for the government to clamp down on social media companies. But while executives from Facebook, Google and Twitter have made multiple trips to testify in front of Congress, there’s been no clear movement towards enforcement.

Salesforce CEO Marc Benioff offered up an analogy: Treat social media like a health issue, similar to tobacco and sugar.

“I think that you do it exactly the same way that you regulated the cigarette industry. Here’s a product: Cigarettes. They’re addictive, they’re not good for you,” Benioff told CNBC’s “Squawk Alley” on Tuesday. “I think that for sure, technology has addictive qualities that we have to address, and that product designers are working to make those products more addictive and we need to rein that back.” Benioff said that there’s confusion about whether social media use is bad for people and it’s the government’s job to step in and provide clarity for parents. There’s a smoking age for cigarettes and regulations around how they can be promoted, but no such rules exist for social media.

http://cnbc.com

Major Facebook investors want Mark Zuckerberg out as chairman

Zuckerberg holds absolute control of the board with a majority of the voting power

Major Facebook investors, including public pension funds and state officials, are pushing for Mark Zuckerberg‘s ouster as chairman of the company’s board.
The proposal is largely symbolic, since Zuckerberg holds absolute control of the board. But it comes at a difficult time for Facebook, as security breaches plague the company and spur questions around corporate oversight.
“We need Facebook’s insular boardroom to make a serious commitment to addressing real risks — reputational, regulatory, and the risk to our democracy — that impact the company, its share owners, and ultimately the hard-earned pensions of thousands of New York City workers,” New York City Comptroller Scott Stringer said in a statement to CNBC.
http://www.cnbc.com

Growing the 5G ecosystem

Verizon expands 5G Labs to new locations

Building on the success of its 4G LTE Innovation Centers and its first 5G incubator in New York City at Alley, a membership community for entrepreneurs, Verizon is expanding the program to new locations on the East and West Coasts. Working with a new array of innovators across a variety of verticals, Verizon will further accelerate the development of tomorrow’s 5G use cases and experiences while bringing all the locations under a new brand identity that reflects Verizon’s vision for 5G development.
Verizon’s new 5G Labs – to be located in Washington DC, Palo Alto CA, Waltham MA, and Los Angeles CA – will explore the boundaries of 5G technology, co-create new use applications and hardware, and engage with the community through programming designed to encourage local innovators to rethink what’s possible in a 5G world. The Labs will all be open by the end of 2018. Each Lab will be outfitted with live 5G networks, giving local startups, universities, and technology companies the opportunity to develop, test and refine tomorrow’s 5G solutions.

Stiglitz: US has a major monopoly problem

Economy dominated by large corporations has failed the many and enriched the few.

The Nobel Prize winner argues that an economy dominated by large corporations has failed the many and enriched the few. There is much to be concerned about in America today: a growing political and economic divide, slowing growth, decreasing life expectancy, an epidemic of diseases of despair. The unhappiness that is apparent has taken an ugly turn, with an increase in protectionism and nativism. Trump’s diagnosis, which blames outsiders, is wrong, as are the prescriptions that follow. But we have to ask: Is there an underlying problem that can and must be addressed?

There is a widespread sense of powerlessness, both in our economic and political life. We seem no longer to control our own destinies. If we don’t like our Internet company or our cable TV, we either have no place to turn, or the alternative is no better. Monopoly corporations are the primary reason that drug prices in the United States are higher than anywhere else in the world. Whether we like it or not, a company like Equifax can gather data about us, and then blithely take insufficient cybersecurity measures, exposing half the country to the risk of identity fraud, and then charge us for but a partial restoration of the security that we had before a major breach.

www.rooseveltinstitute.org

Stiglitz: US has a major monopoly problem

Economy dominated by large corporations has failed the many and enriched the few

The Nobel Prize winner argues that an economy dominated by large corporations has failed the many and enriched the few. There is much to be concerned about in America today: a growing political and economic divide, slowing growth, decreasing life expectancy, an epidemic of diseases of despair. The unhappiness that is apparent has taken an ugly turn, with an increase in protectionism and nativism. Trump’s diagnosis, which blames outsiders, is wrong, as are the prescriptions that follow. But we have to ask: Is there an underlying problem that can and must be addressed?
There is a widespread sense of powerlessness, both in our economic and political life. We seem no longer to control our own destinies. If we don’t like our Internet company or our cable TV, we either have no place to turn, or the alternative is no better. Monopoly corporations are the primary reason that drug prices in the United States are higher than anywhere else in the world. Whether we like it or not, a company like Equifax can gather data about us, and then blithely take insufficient cybersecurity measures, exposing half the country to the risk of identity fraud, and then charge us for but a partial restoration of the security that we had before a major breach.

U.S. lawmakers grill Facebook, Twitter executives

Technology stocks fall

The Nasdaq fell more than 1 percent on Wednesday, dented by technology stocks after Facebook Inc (FB.O) and Twitter Inc (TWTR.N) executives defended their companies before skeptical U.S. lawmakers. Adding to pressure on technology stocks, the Justice Department later said it would meet with state attorneys general to discuss worries that social media platforms were “intentionally stifling the free exchange of ideas.” Facebook and Twitter were not specifically named.

Twitter shares dropped 6.1 percent. Facebook shares fell 2.3 percent, contributing heavily to both the Nasdaq’s and the S&P 500’s declines. The Dow, however, eked out a slight gain.

U.S. lawmakers grill Facebook, Twitter executives

Technology stocks fall

The Nasdaq fell more than 1 percent on Wednesday, dented by technology stocks after Facebook Inc (FB.O) and Twitter Inc (TWTR.N) executives defended their companies before skeptical U.S. lawmakers. Adding to pressure on technology stocks, the Justice Department later said it would meet with state attorneys general to discuss worries that social media platforms were “intentionally stifling the free exchange of ideas.” Facebook and Twitter were not specifically named.
Twitter shares dropped 6.1 percent. Facebook shares fell 2.3 percent, contributing heavily to both the Nasdaq’s and the S&P 500’s declines. The Dow, however, eked out a slight gain.

62% of America’s Jobs Pay Less Than $20 Per Hour

US has 130 million jobs overall

Almost two-thirds of America’s jobs aren’t paying a cent more than $20 an hour, according to the Bureau of Labor Statistics (BLS). That means 62 percent of the nation’s jobs offer their employees less than $41,600 a year! The BLS report (h/t Horizon Credit Union) notes that the US has 130 million jobs overall.  Of those positions, 18 million pay less than $10 an hour and a startling 63 million pay between $10 and $20. Add it all up and you’ve got 81 million jobs (out of 130 million) paying their workers less than $20. This includes administrative assistants, personal care aides, and retail workers.

Employers that offer a more generous salary, more than $42,000 a year, make up about 38 percent of the nation’s jobs. According to CNN Money, 27 million jobs offer an hourly pay between $20 and $30. That includes plumbers, office supervisors, electricians, and insurance sales agents — all four positions have an hourly pay that hover around $24 an hour, an annual salary of about $50,000.
https://www.madamenoire.com/

Uber is one step closer to a massive investment from SoftBank

Uncertain future for Travis Kalanick

A deal between Uber and SoftBank is nearly done. Today (Oct. 4) Uber announced in a statement it would move forward with a proposed investment from Japanese tech giant SoftBank which could close “in the coming weeks,” and also voted in favor of a number of corporate governance reforms. The decisions bode poorly for Uber founder Travis Kalanick, who has sought to retain his influence over the company after stepping down as CEO in June, and could pave the way for broader changes in Uber’s international operations.
SoftBank, which said in August it’s interested in investing in Uber, hasn’t made public the size of its proposed investment, but a person with knowledge of the deal said that SoftBank, along with other investors, will invest $1.25 billion directly in Uber at a $69 billion valuation, and will also purchase 14% to 17% of outstanding shares from existing investors. The person also added that Uber will go public by 2019, something which Uber’s new CEO hinted at in August.
http://www.qz.com…  Wed.,  04  October 2017

Social Rights for 'gig economy' workers

EU seeks more protection for Uber-style jobs

The European Commission wants more social protection and rights for casual workers, such as those in the “gig economy”, and others with non-standard contracts to try to tackle growing social inequality.

The Commission’s consultation document on these plans, seen by Reuters, is part of a broader reworking of the EU’s economic priorities, after pressure from populist forces that accuse Brussels of having pursued ultra-liberal policies to the detriment of wo

http://www.reuters.comMon.,  25  September 2017

Augmented Reality, The FaceBook's Next Frontier

Mix the physical and digital in whole new ways

At the company’s annual developer conference on Tuesday, CEO Mark Zuckerberg took the wraps off his plans to “mix the physical and digital in whole new ways” using AR, the nascent and potentially revolutionary technology being worked on by Apple, Microsoft, Snap, Magic Leap, and others. Starting Tuesday, Facebook will give developers the ability to build their own AR effects for the Facebook app’s camera. The effects will be relatively basic initially and function similarly to Snapchat’s lenses, which can place puppy dog ears or a flower crown on your face.
But eventually, Facebook plans to use AR through its app’s camera to show things like menu information at a restaurant, virtual steam rising from a real coffee cup, and virtual, 3D art that cascades from a blank wall.
http://www.businessinsider.com…  Wed.,  19 April 2017