The New York Times reported on Friday that Twitter “teeters on the edge” after 1,200 employees resigned rather than accept Elon Musk’s demand to accept a “hardcore” work culture. Perhaps that’s true, but if Musk is successful transforming Twitter into a profitable company with less than half its previous workforce, it will further underscore how tech company valuations are grossly inflated.
It hurts to admit this, but here’s why I’m rooting for Musk.
The collapse of crypto exchange FTX serves as yet another reminder as to why the public should be wary of executives the media peddles as geniuses, particularly when they profess to adhere to the highest standards of morals and ethics.
How’s this for a modern-day version of the sitcom hit “Friends?”: A group of tech nerds are given $2 billion by some of the smartest people in Silicon Valley and Wall Street to create a crypto exchange. Instead of living in a Manhattan apartment they live in a $30 million, five-bedroom penthouse in a luxury residential complex in the Bahamas. To spice things up, some of these friends formerly dated each other.
A far-fetched plot? This is just a smattering of the real-life story about the collapse of the crypto exchange FTX and its founder, Sam Bankman-Fried. Here’s the FTX scandal explained for those who don’t understand cryptocurrency and some info on critical people the media has so far ignored or glossed over.
Rest assured, this will make one heck of a Hollywood movie.
I’ve tired of Elon Musk, and I suspect I’m not alone in my weariness. While I’d never bet against the Chief Twit, he would be wise to watch himself. The universe is sending him a message.
Michigan Medicine, University of Michigan’s teaching hospital, is as good as it gets when it comes to healthcare in America. Unfortunately, when it comes to cybersecurity, Michigan Medicine appears as inept as its lesser rivals protecting its IT and patient information, underscoring that even top-tier hospital managements are out of their depths when it comes to safeguarding their technology.
It’s likely only a matter of time before hackers decide to hijack all U.S. hospital IT operations in one fell swoop. Federal intervention is required, but unfortunately the U.S. government is no better protecting its IT than U.S. hospitals.
If electric vehicles are the future of automotive, General Motors CEO Mary Barra continues to suffer major missteps, admitting this week that her ambitious EV sales promises will be delayed another year. As well, Barra has issued yet another recall for her monster Hummer pickup, this one for a faulty battery seal allowing water to seep in.
One upon a time, Barron’s would be the publication sounding the alarm and warning investors about Barra’s track record of broken promises and GM’s history of shoddy manufacturing. Now it’s just another voice in the legacy media’s EV choir.
The future of Self-Driving cars is far from assured. Here’s why it would be better for society if the technology is never approved.
Until this weekend, I thought that I was too dumb to understand cryptocurrency. But after reading about the $580 million hackers pilfered from Binance, the world’s biggest crypto exchange, I’m no longer convinced that I’m the moron.
If you aren’t familiar with the Binance heist, you should be.
Bloomberg today published an expose on self-driving vehicles that confirmed my worst fears and doubts about executives who champion the technology and Wall Street money managers duped by the hype.
When Elon Musk says jump, Tesla and SpaceX employees ask, “How high?”
When GM CEO Mary Barra says jump, she promptly apologizes to GM employees for making such an onerous request.
Here’s why it takes a giant leap of faith to believe Barra’s claim that by mid-century she will sell more electric vehicles than Tesla.