Day: September 2, 2024

The transition to green energy has brought the German industrial giant to collapse

The once-mighty German engineering giant ThyssenKrupp is now trading at zero value on the stock exchange, with its shares reflecting the negative value of the company. The situation is attributed to a combination of poor management decisions and the challenges of operating in the current economic climate in Germany. One of the major factors behind ThyssenKrupp’s decline is the company’s switch from coal to green hydrogen for steel production. This transition, while environmentally conscious, made selling steel to German consumers prohibitively expensive, further worsening the company’s financial situation. How do you feel about green energy? Is it really that necessary or is it done for the purpose of developing another one market? https://preview.redd.it/11u8g8i2agmd1.png?width=1280&format=png&auto=webp&s=0df28fdbf0caf8364aa7c7d6d6e2afaa507efe1a submitted by /u/dll_crypto [link] [comments]

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Crypto is SCIENTIFICALLY proven to be driven by hype and guilt. Who knew?

Just read a study that shows how hype and social concerns impact crypto investing. When people see headlines like “1,500 new Bitcoin millionaires,” they invest 21% more—proof that FOMO is real. But when reminded about Bitcoin’s environmental impact or its use in illegal activities, their investment drops by 15-18%. Before jumping on the latest crypto craze, check your motives. Are you making a smart, informed decision, or just following the hype? I think we all knew this is real — just now it’s backed up by a research. Although this is just a part of a puzzle that makes up the crypto price, I know. Thing is, even I sometimes forget to check my motives and sell low, huh. Full study here. Worth a read to keep your investments grounded. submitted by /u/caps-unlock [link] [comments]

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Apple’s $100B Gamble, Musk’s Brazil Meltdown, and Oasis Chasing Old Glory: Just Another Day in the Wild West of Tech and Fame

🍎 Apple is about to throw $100 billion at OpenAI. Recently, the Apple crew teamed up with them to pump up Apple Intelligence – even though they have their own language model for basic stuff, it’s just not as good. Surprised? Well, Apple rarely invests in startups… if you can call a $100 billion company a “startup.” Oh, and NVidia is jumping on the bandwagon, too, planning to back one of its biggest clients! 🇧🇷 Musk’s platform X just got nearly wiped out in Brazil. Judge Moraes straight-up cut off 40 million users. Musk called him “a criminal of the worst kind posing as a judge” and also “Dictator Voldemort” for good measure. And why not? To top it off, the judge froze Starlink’s accounts – absolute madness. It all started when the court ordered the blocking of dozens of accounts on the platform, and at first, Musk was like “okay,” but then turned around and called it censorship. The blocked accounts belonged to supporters of former President Jair Bolsonaro, who were stirring up riots over the “stolen election.” This whole thing is nuts. I never thought something like this could happen in a civilized country! What a bunch of savages! Wait… hold on… 🏒 A sad story out of the NHL: a drunk driver hit and killed some guys on bikes. Turns out they were hockey stars with salaries close to $10 million a year. Moral of the story? No matter how high you climb, be careful. One minute you’re scoring goals to the crowd’s roar for crazy money, the next, you’re under the wheels. One moment you’re dining with the President of France, and the next, you’re locked up behind bars. 🖋 Yelp (yeah, the biggest restaurant review site) is suing Google. The beef? Google’s showing its own reviews in search results instead of Yelp’s. I mean, what else are they gonna show? Wait, you can actually do that? Alright then, let’s go ahead and sue Yandex while we’re at it. For everything. 🎙 Oasis is reuniting for… you guessed it, a reunion tour across the UK next summer. The Gallagher brothers blew through their massive paychecks, and now they need some cash. Just a little – like £400 million for 17 shows in five cities. Analysts are saying that’s more than they made during their entire wild run in the ’90s. Taylor Swift was pulling in $13.5 million per show on her last tour. And there are only 2 songs from that era that hit over 2 billion streams on Spotify: you know which Nirvana song, and Oasis’ “Wonderwall.” Can’t stand that whining. Worse than Mummy Troll, seriously. submitted by /u/XGramatik [link] [comments]

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90% of US cities saw a rise in year over year unemployment rates in July, according to the BLS. The labor market is weakening.

Unemployment rates increased in 350 out of 389 U.S. metro areas last month, according to the BLS. In 8 major metro areas with over a million residents, fewer people were employed in July 2024 compared to July 2019. Meanwhile, average weekly wages fell in 43% of these regions. Among the 8 highest-paying areas with average weekly wages above $1,400, 5 saw a year-over-year salary drop. https://preview.redd.it/rx8emu9r8cmd1.jpg?width=796&format=pjpg&auto=webp&s=0a6f9500718771ee5fec479ecf798602f044a0bc Looks like the “American Dream” just woke up to a nightmare. submitted by /u/FXgram_ [link] [comments]

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Singapore topped the ranking of countries in terms of cryptoasset adoption.

Henley & Partners has published a ranking of countries in terms of cryptoasset adoption. The top three include Singapore, Hong Kong and the UAE. They stand out for economic factors, developed infrastructure and relatively more lenient taxation. None of the CIS countries made it into the top 20. https://preview.redd.it/ia6mkwzgd9md1.png?width=731&format=png&auto=webp&s=675a0d3062004bee87e0f6fe1de845178b821291 submitted by /u/Lor1al [link] [comments]

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A clever use or cheating, or how tech giants are outsmarting regulators

In the high-stakes arena of artificial intelligence, big tech companies are rewriting the playbook on talent acquisition. Heavyweights like Google, Microsoft, and Amazon are cleverly boosting their AI capabilities without setting off antitrust alarms—by acquiring the brains and tech of AI startups without formally buying the companies. A recent example of this tactic came when Google struck a deal with Character.ai, bringing on its high-profile founder along with over 20% of the company’s staff, and securing a license for its technology. It looks like an acquisition, sounds like an acquisition, but technically, it isn’t one. Google isn’t the only player using this creative approach. Microsoft led the charge with a similar arrangement involving Inflection, and Amazon quickly followed suit with its pseudo-acquisition of Adept. These deals have become a new strategic weapon for tech giants, allowing them to bypass regulatory scrutiny while still scooping up the talent and cutting-edge tech that keeps them competitive in the fierce AI race. For AI startups, which often struggle to monetize their innovations, these deals offer a crucial opportunity—a chance to thrive under the umbrella of a tech giant. Meanwhile, these companies get to hand-pick the brightest minds and most innovative technologies without the legal headaches that accompany traditional acquisitions. However, this cunning strategy comes with its own set of risks. While tech companies might believe they’re sidestepping antitrust watchdogs, they could be treading dangerous ground. As these quasi-acquisitions become more common, they’re likely to draw closer scrutiny from regulators determined to keep the tech landscape fair and competitive. As the AI revolution accelerates, one thing is certain: the battle for talent and technology is intensifying, and tech’s biggest players are willing to do whatever it takes to stay ahead of the competition—and the regulators. submitted by /u/Aftermebuddy [link] [comments]

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