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This ‘permissionless’ wireless provider aims to warn the most vulnerable about extreme heat, bad air and other climate-change risks 2023-07-25 - There’s been a major tool in recent decades in limiting fatalities and greater property damage when it comes to natural disasters and extreme weather, including the soaring temperatures that have cooked the U.S. and parts of the world this summer. That tool? Much better and timely communication. And that means reliable mobile devices and accessible wireless connectivity. For one company, Helium Network, and its nonprofit arm, Helium Foundation, decentralizing a global wireless network, keeping costs to users to a minimum, and engaging with companies and the power of the Internet of Things (IoT) to capture and share data that can improve, and even save, lives is an all-important step in making communities and their citizens better prepared for what climate change may deliver next. That’s especially true for portions of the population that are most economically vulnerable. The foundation has just announced the addition of WeatherXM, a community-powered decentralized weather network, as well as qnectd, an IoT provider that aims for for smart, connected cities, including monitoring air quality, and KitchenOS, a food safety and waste tracker, to its roster of partners. Timely information from these sources will appear directly in front of Helium Network smartphone users who opt in. 3,000 weather stations The reach of that connectivity is no small feat. WeatherXM claims to be the world’s largest decentralized weather network given its more than 3,000 weather stations deployed by individuals around the world. Backed by blockchain technology, WeatherXM leverages tokens to incentivize data providers to contribute to the most comprehensive — and because of its micro focus, perhaps the most accurate — weather network the world over. “By leveraging the power of the Helium Network, we can provide our partners with accurate and up-to-date weather information around the world, including in areas that were previously out of reach,” said Manolis Nikiforakis, co-founder and CEO of WeatherXM. “This is particularly important when looking at emerging markets that lack the infrastructure to monitor the weather and make reliable forecasts accurately.” The partnership couldn’t happen soon enough. Multiple regions across the world faced extreme conditions over the weekend, with record-breaking rainfall causing massive floods in Nova Scotia, Canada, and thousands of tourists evacuated in Greece due to wildfires. In the U.S., the death toll for the latest heat wave is on the rise. What’s more, the extreme heat cooking much of the U.S. for weeks will next push into the Great Basin, parts of the Rockies, and then eastward across the Plains, the Midwest and the East Coast by the end of the week. Read: Already roasting in extreme heat? 2024 could be even hotter, NASA scientists warn. And extreme heat, which can especially impact those who can’t afford air conditioning or who work outside, hits in a summer also dominated by wildfire smoke migrating to the U.S. from Canada and a jump in flash flooding, including in New York, Vermont and Pennsylvania this month. For its part, Helium’s additional new partner, Bulgaria-based qnectd is a global IoT solutions provider for smart (meaning tech-connected) cities, farms and buildings. As wildfire smoke and its far-reaching implications made fresh headlines this summer, the company ramped up its “What Do You Breathe?” campaign to raise awareness about indoor air quality issues in elementary schools. It deployed Helium-compatible air quality monitoring solutions in those buildings. Wireless connectivity for all? So how does Helium Foundation, funded with donations and membership dues, try to get more wireless internet access — including hotspots and roaming — and share the world’s most vital data with more people? Helium operates on a LoRaWAN protocol that is based on the LoRa (long range) radio modulation method and is a low-power wide-area networking protocol. LoRaWan manages communication between end-node IoT devices and network gateways and connects devices to the internet via wireless connections. For end-users, it may be the first time they have timely emergency information at their fingertips, and for communities, including remote locations, it’s a major step toward monitoring energy-efficient, smart-technology facilities. “The permissionless, ubiquitous, and affordable nature of the Helium Network has lowered the barriers to entry, empowering more businesses and ultimately, consumers, to benefit from IoT solutions and the products they enable,” said Abhay Kumar, CEO of the Helium Foundation. Kumar explained the pricing and accessibility differences that can link up many more users. For instance, a sensor on the Helium IOT network can send 100,000 messages for $1. “Assuming a message sent every minute in a year, that’s $5.26 a year with no SIM card and significantly cheaper hardware,” he said. “Compare that to other networks where you may have a cost of $15-$20 a year plus the cost of a SIM, shorter battery life, etc.” A smarter food-supply chain Certainly extreme weather isn’t the only fallout from climate change. Intensifying pressures on growing food in a warming world matters greatly as well. And so does sharing the information to better feed the world. The shifting climate-change landscape, which is expected to challenge the agricultural and food distribution sectors without smart adaptation, has also increased attention on food safety and cutting waste, especially as the global population tops 8 billion and keeps growing. Opinion: 8 billion people: Four ways climate change and population growth combine to threaten public health, with global consequences Based in the U.K. but collecting data from all over the globe, KitchenOS leverages sensor-powered technology to monitor the temperature of food items across the cold supply chain. With real-time temperature monitoring powered by the Helium Network, users, which might include restaurants, grocers and others, can monitor on their smartphones whether their food and produce are safe to consume, minimizing food poisoning, and reducing spoilage, thus cutting down on food waste. “I was a chef before I founded KitchenOS, and I struggled to understand why so little effort was made to prevent food waste,” said Neil Bradley, CEO of KitchenOS.
Trader Joe’s recalls cookies that may contain rocks 2023-07-25 - Trader Joe’s is recalling two of its lines of cookies that may contain rocks. The supermarket chain said Monday that it was notified by its supplier that Trader Joe’s Almond Windmill Cookies with “sell by” dates of Oct. 19, 2023 through Oct. 21, 2023 and Trader Joe’s Dark Chocolate Chunk and Almond Cookies with “sell by” dates of Oct. 17, 2023 through Oct. 21, 2023 may have rocks in them.
South Korea’s economy grows faster than expected in second quarter 2023-07-25 - South Korea’s economy grew at a faster-than-expected pace in the second quarter, remaining on track for recovery after avoiding a technical recession in the previous quarter. Gross domestic product in Asia’s fourth-largest economy grew 0.6% on-quarter during the April-June period following a 0.3% increase in the first quarter, preliminary Bank of Korea data showed Tuesday. In the final quarter of last year, the economy had contracted 0.3% on quarter.
Everything new coming to Max in August 2023 — and what’s leaving 2023-07-25 - August brings the summer doldrums to Max, which for once has a relatively meager slate of programming. “Winning Time: The Rise of the Lakers Dynasty” (Aug. 6) is back for its second season, spanning the years from the 1980 NBA Finals through the 1984 season. Quincy Isaiah and Sean Patrick Small return as Magic Johnson and Larry Bird, whose rivalry reaches epic proportions in the new season, which should be a ton of fun, even though (or because?) the series may play fast and loose with the facts. The behind-the-scenes NFL docuseries “Hard Knocks” (Aug. 8) returns for its 18th season, this time with Aaron Rogers and the New York Jets, neither of whom are thrilled to be featured (and punches have already been thrown at training camp). Also on tap: “Adventure Time: Fionna and Cake” (Aug. 31), a spinoff series about the young adventurer and her magical cat; Season 2 of the hip-hop comedy “Rap Sh!T” (Aug. 10); and the HBO documentary “BS High” (Aug. 23), about an Ohio prep football program that turned out to be a scam. Also: More monthly streaming picks at What’s Worth Streaming Warner Bros’ Discovery’s WBD, -2.47% streaming service also has a good slate of classic action movies coming to the platform, including “Ronin,” Steve McQueen’s “The Getaway,” and both versions of “The Thomas Crown Affair” (all Aug. 1). Here’s the complete list of what’s coming and going in August, though Max warns it may not be comprehensive and is subject to change: What’s coming to Max in August 2023 Aug. 1 A Hologram for the King (2016) A Nightmare on Elm Street (1984) A Nightmare on Elm Street (2010) A Nightmare on Elm Street 2: Freddy’s Revenge (1985) A Nightmare on Elm Street 3: Dream Warriors (1987) A Nightmare on Elm Street 4: The Dream Master (1988) A Nightmare on Elm Street 5: The Dream Child (1989) A Royal Affair (2012) Agent Cody Banks (2003) Agent Cody Banks 2: Destination London (2004) American Gangster (2007) Amsterdam (2022) Angel of Mine (2019) Animal Kingdom (2010) Annie Hall (1977) Antitrust (2001) Before Midnight (2013) Best Man Down (2013) Beyond the Reach (2015) Blown Away (1994) Body of Lies (2008) Bulletproof Monk (2003) Chernobyl Diaries (2012) Client 9: The Rise and Fall of Eliot Spitzer (2010) Cloudy with a Chance of Meatballs (2009) Dawn of the Planet of the Apes (2014) De-Lovely (2004) Deadfall (2012) Death Wish II (1982) Death Wish 3 (1985) Death Wish 4: The Crackdown (1987) F/X (1986) F/X 2: The Deadly Art of Illusion (1991) Fame (2009) Fargo (1996) Flash of Genius (2008) Good News (1947) I Am Not Your Negro (2016) Ice Station Zebra (1968) Infinitely Polar Bear (2015) Inside Job (2010) Jason Goes to Hell: The Final Friday (1993) Kill Your Darlings (2013) King Arthur: Legend of the Sword (2017) Kingpin (1996) Leaving Las Vegas (1996) Love Is Strange (2014) Maggie’s Plan (2016) Miss Congeniality (2000) Miss Congeniality 2: Armed and Fabulous (2005) Mortal Kombat Legends: Battle of the Realms (2021) My Scientology Movie (2015) Naked Gun 33 1/3: The Final Insult (1994) Night Catches Us (2010) Night Moves (1975) Ocean’s Eight (2018) Ocean’s Thirteen (2007) Ocean’s Twelve (2004) Our Family Wedding (2010) Out of Time (2003) Restless (2011) Ronin (1998) Rubber (2010) Searching for Sugar Man (2012) Shattered (1991) Soul Plane (2004) Spaceballs (1987) Spawn (1997) Stage Fright (1950) Stan & Ollie (2018) Star 80 (1983) Stealing Harvard (2002) Take Shelter (2011) The Age of Adaline (2015) The Amityville Horror (1979) The Amityville Horror (2005) The Assistant (2020) The Bourne Ultimatum (2007) The Bronze (2015) The Comedian (2016) The Dirty Dozen (1967) The Exception (2017) The Fluffy Movie (2014) The Getaway (1972) The Good Lie (2014) The Goodbye Girl (1977) The Hollars (2016) The Hunted (2003) The Illusionist (2010) The Iron Giant (1999) The Killer Elite (1975) The Mean Season (1985) The Naked Gun 2 1/2: The Smell of Fear (1991) The Naked Gun: From the Files of Police Squad! (1988) The Omega Man (1971) The Phantom (1996) The Prince & Me (2004) The Seagull (2018) The Thomas Crown Affair (1968) The Thomas Crown Affair (1999) The Wash (2001) The Water Horse: Legend of the Deep (2007) They Died with Their Boots On (1941) This Is Elvis (1981) Till the End of Time (1946) Torpedo Run (1958) Transcendence (2014) Travels with My Aunt (1972) Twister (1996) Wes Craven’s New Nightmare (1994) Whiteout (2009) Wild Wild West (1999) Aug. 3 House Hunters, Season 200 (HGTV) House Hunters International, Season 172 (HGTV) Vlad and Niki, Season 2B Aug. 4 Khun Pan 3 (2023) Aug. 6 Big Sky Kitchen with Eduardo Garcia, Season 2 (Magnolia Network) Evil Lives Here, Season 14 (ID) Winning Time: The Rise of the Lakers Dynasty, Season 2 (HBO Original) Worst Cooks in America: Love at First Bite, Season 26 (Food Network) Aug. 7 Kim vs Kayne: The Divorce (Discovery Networks International) Ugliest House in America: Summer Road Trip, Season 4 (HGTV) Aug. 8 Bugs Bunny Builders, Season 1F Hard Knocks: Training Camp with the New York Jets (HBO Original) Aug. 9 Contraband: Seized at the Border, Season 1 (Discovery Channel) Doubling Down with the Derricos, Season 4 (TLC) Get Hard (2015) Aug. 10 Cookie Monster’s Bakesale (Max Original) Rap Sh!t, Season 2 (Max Original) Aug. 12 Belle Collective, Season 2B (OWN) I Survived Bear Grylls, Season 1 (TBS) Aug. 14 Forensic Files II, Season 4A (ID) Signs of a Psychopath Season 6 (ID) Aug. 15 90 Day: The Last Resort, Season 1 (TLC) Good Bones, Season 8 (HGTV) House Hunters International Season Volume 8: Season 188 (HGTV) Scent of Time (Max Original) What’s Wrong With That House?, Season 1 (HGTV) Aug. 16 Battle of the Decades, Season 1 (Food Network) Aug. 17 Avatar (2009) I Love You, And It Hurts (Te Quiero y Me Duele) (Max Original) Aug. 18 American Masters: Sidney Poitier: One Bright Light (2000) MarkKim + Chef (Max Original) Time of Essence, Season 1 (OWN) Aug. 20 Disappeared: The Bradley Sisters (ID) Sister Wives, Season 18 (TLC) Stand Up to Cancer Aug. 22 Bobby’s Triple Threat, Season 2 (Food Network) Aug. 23 BS High (HBO Original) Why The Heck Did I Buy That House?, Season 2 (HGTV) Aug. 24 Bargain Block, Season 3 (HGTV) Save My Skin, Season 4 (TLC) Aug. 25 Tracked, Season 1 (Discovery Channel) Aug. 27 Disappeared, Season 11 (ID) We Baby Bears, Season 2B (Cartoon Network) Aug. 29 Bugs Bunny Builders: Hard Hat Time, Season 1C (Cartoon Network) Aug. 30 Design Down Under, Season 1 (Magnolia Network) In With the Old, Season 4 (Magnolia Network) Aug. 31 Adventure Time: Fionna & Cake, Season 1 (Max Original) What’s leaving Max in August Aug. 5 Hard Knocks: Training Camp with the Detroit Lions (HBO Original) Aug. 12 A Very Venture Christmas (2004) From the Ladle to the Grave: The Shallow Gravy Story (2011) Aug. 13 Thank You, Mr. President: Helen Thomas at the White House (2008) (HBO Original) Aug. 28 Tokyo Revengers (Dubbed & Subtitled) (2021) Aug. 31 20 Feet From Stardom (2013) 3:10 to Yuma (2007) 93Queen (2018) A Vigilante (2019) Acts of Vengeance (2017) Airplane II: The Sequel (1982) Airplane! (1980) Anger Management (2003) Basic (2003) Best of Enemies (2015) Big Daddy (1999) Blue Bayou (2021) Brokedown Palace (1999) Bullitt (1968) Cobra (1986) Deep Blue Sea (1999) Demolition Man (1993) Dolores Claiborne (1995) Dragonball Evolution (2009) Dunkirk (2017) Eagle Eye (2008) Enter the Dragon (1973) Finding Forrester (2001) Ghosts of Mississippi (1986) Godzilla (2014) Godzilla: King of the Monsters (2019) Going in Style (1979) Goodbye, Mr. Chips (1969) Heist (2015) Hellboy (2004) Hellraiser III: Hell on Earth (1992) Hellraiser IV: Bloodline (1996) Hellraiser V: Inferno (2000) Hellraiser VII: Deader (2005) Hellraiser: Hellseeker (2002) Hellraiser: Hellworld (2005) Hot Tub Time Machine (2010) House at the End of the Street (2012) Hunter Killer (2018) I Am Love (2009) I Love You, Beth Cooper (2009) Iris (2015) Jackson (2016) Jersey Boys (2014) Johnson Family Vacation (2004) Journey 2: The Mysterious Island (2012) Journey to the Center of the Earth (1959) Just Cause (1995) King Kong (1933) Lemon (2017) Lethal Weapon (1987) Lethal Weapon 2 (1989) Lethal Weapon 3 (1992) Lethal Weapon 4 (1998) Letters to Juliet (2010) Mad Max Beyond Thunderdome (1985) Make Your Move (2003) Miss March (2009) Miss Sloane (2016) Mona Lisa Smile (2003) My Bloody Valentine (1981) My Bodyguard (1980) My Week with Marilyn (2011) Netizens (2018) Never Grow Old (2019) Norma Rae (1979) Outrage (2009) Over the Garden Wall (2014) Paparazzi (2004) Ready Player One (2018) Results (2015) Robin Hood (1991) Robin Hood: Prince of Thieves (1991) RocknRolla (2008) Rush Hour (1998) Rush Hour 2 (2001) Rush Hour 3 (2007) School Life (2017) Sinister (2012) Sleepers (1996) Slums of Beverly Hills (1998) Squidbillies (2004) Tangerine (2015) Taxi (2004) Teenage Mutant Ninja Turtles II: The Secret of the Ooze (1991) Teenage Mutant Ninja Turtles III (1993) Tequila Sunrise (1988) Thanks for Sharing (2012) The Accused (1988) The Animatrix (2003) The Big Hit (1998) The Card Counter (2021) The Cold Light of Day (2012) The Crazies (2010) The Pick-Up Artist (1987) The Ring Two (2005) The Sentinel (2006) The War of the Roses (1989) TMNT (2007) Vampire in Brooklyn (1995) What a Girl Wants (2003) What Lies Beneath (2000) Whip It (2009) White God (2015) Whitey: United States of America v. James J. Bulger (2014) Wild (2014) Wild Hogs (2007) Woman Walks Ahead (2017) Yogi Bear (2010)
The $1 trillion ‘wall of worry’ for commercial real estate that spirals through 2027 2023-07-25 - Big-time landlords have begun surrendering office buildings and other struggling properties to lenders this year, when just a few years ago they were fetching sky-high values amid super-low rates. Many consider it the start of a reckoning for the estimated $20.7 trillion commercial real-estate market, likely its biggest test of confidence since the 2007-2008 global financial crisis. Brian Lane, the Well Fargo Investment Institute’s lead analyst for private credit, pointed to a $1 trillion “wall of worry” as a wave of commercial real-estate loans come due through the end of 2024 (see chart), in a Monday client note. The balance balloons to about $2.5 trillion through the end of 2027. $1 trillion commercial real-estate loan maturities will become $2.5 trillion by the end of 2027. Morgan Stanley REIT research “Property owners are facing higher vacancy, reduced net operating income, falling prices and rising capitalization rates,” Lane wrote. “While valuations have started to decline in most property types, there is likely more downside.” A recent McKinsey report pegged prices for office buildings as likely to fall as much as 42%, Morgan Stanley analysts reiterated a call for overall commercial-property prices to drop 27.4% peak-to-trough through the end of 2024. Lane expects many borrowers to resort to private-capital providers for loans, with banks and the commercial mortgage-backed securities market pulling back. “We expect that private investors will be needed to provide debt financing, and that sponsors may be forced to infuse equity to protect holdings and right-size property deals.” Furthermore, institutional investors in bonds haven’t given up on all commercial real estate. Saira Malik, Nuveen’s chief investment officer, said that “nonoffice” commercial mortgage-backed securities that currently offer 10.6% yields look attractive relative to the roughly 5.5% yield on investment-grade corporate bonds and 3.87% 10-year Treasury yield TMUBMUSD10Y, 3.889% , in a Monday client note. Despite regional-bank failures and ongoing challenges in the office sector, Malik pointed to climbing delinquency rates of about 2% on loans in bond deals as well below the 9% rate of the global financial crisis some 15 years ago. She also said investors might consider commercial real estate for its higher yields and total returns, given a backdrop where the Federal Reserve is expected to soon end its most aggressive cycle of rate hikes in decades. Read: Do Not Disturb: Tenants brace for more office landlords to go belly up on their property debts
Will a tweet really now be called an X, and will that fly with users? 2023-07-25 - As Elon Musk rebrands Twitter into a company simply known as X, he seems intent on changing the vernacular as well for the site’s fundamental feature. Asked overnight what tweets would be called in the world of X, Musk responded perhaps the way one would expect given the suddenness of this branding overhaul. X apparently indeed marks the spot for Musk. It looks like a tweet may soon be called an X, though the supposed new term doesn’t exactly roll off the tongue, and the branding on Twitter’s — or X’s — platform doesn’t reflect the change just yet. Hover over the button enabling you to compose a new update, and the word “Tweet” still appears. The company formerly known as Twitter apparently has been quicker to formalize other changes, projecting the X logo in its cafeteria and changing conference room names to “eXposure,” “eXult” and “s3Xy,” according to reports out of its San Francisco headquarters. Read: Twitter’s new branding as ‘X’ is a smart move, say these marketing pros It remains to be seen, however, whether the service’s users will be game to adopt the company’s latest lingo. Twitter in its infancy referred to the process of posting updates as “Twittering,” according to Insider, while those who made these posts were labeled “Twitter-ers.” It took a couple of years for the term “tweet” to gain official status. More terminology based on the iconic messaging function would likely have to change in X’s reality, as some users were quick to point out. Such complications apparently weren’t lost on Musk, however. Corporate branding is one thing, but “tweet” is already treated like a verb by millions of people, and breaking that muscle memory won’t be easy for Musk and the X execs. Adding to the corporate intrigue, Meta Platforms Inc. META, -0.90% , which unveiled would-be Twitter killer Threads earlier this month, apparently holds the trademark for “X” for “online social networking services… social networking services in the fields of entertainment, gaming and application development.” Meta declined to comment further. See more: X marks the spot as Elon Musk rebrands Twitter, ditches bird logo One thing is certain: Musk has quite the fascination with the 24th letter. He named his son X Æ A-12, for instance, and his first company was X.com (which became PayPal) and there’s also SpaceX. And remember: Tesla originally wanted the Tesla Model 3 to be called the Model E, which would have made the lineup spell out ‘SEXY’, but Ford scotched the plan.
McCarthy Says Biden Bribery Probe Reaching 'Impeachment' Inquiry Level: 'Something We Haven't Seen Since Richard Nixon' 2023-07-25 - Kevin McCarthy, the U.S. House Speaker, on Monday, suggested that the ongoing probes into President Joe Biden and his family are reaching the level of an impeachment inquiry. What Happened: McCarthy, in an interview with Fox News, cited two IRS whistleblowers who claimed that prosecutors deliberately delayed an investigation into Hunter Biden‘s tax crimes. He also referenced House GOP investigations that revealed millions of foreign funds passing through shell companies to Biden family members and associates. "When Biden was running for office, he told the public he has never talked about business. He said his family has never received a dollar from China, which we prove is not true," McCarthy said. See Also: Biden Says Marjorie Taylor Greene Endorsed Him After GOP Lawmakers’ Botched Attempt To Roast President "We've only followed where the information has taken us. But Hannity, this is rising to the level of impeachment inquiry, which provides Congress the strongest power to get the rest of the knowledge and information needed," McCarthy added. “This president has also used something we haven’t seen since Richard Nixon — used the weaponization of government to benefit his family and deny Congress the ability to have the oversight.” These developments come in the wake of an attempt by Rep. Lauren Boebert (R-CO) to fast-track impeachment proceedings against Biden, which was met with opposition within the Republican party. GOP strategist Dan Judy also called the move “frankly stupid.” Why It Matters: Some of the Republicans are reportedly worried that the escalating tension in the impeachment proceedings against Biden could potentially impact the party’s image and strategy ahead of the 2024 elections. Meanwhile, the White House responded to McCarthy’s comment by accusing House Republicans of neglecting important matters and priorities. "Instead of focusing on the real issues Americans want us to address, like continuing to lower inflation or create jobs, this is what the [House GOP] wants to prioritize. Their eagerness to go after [POTUS] regardless of the truth is seemingly bottomless," Ian Sams, White House spokesperson for oversight and investigations, said in a tweet. Read Next: Marjorie Taylor Greene Calls GOP Colleague ‘Little B**ch’ Over Plagiarized Articles Of Biden’s Impeachment Photo by Midary on Shutterstock
'Big Short' Investor Sees No Recession Evidence: 'Market Will Continue To Melt Up' 2023-07-25 - Steve Eisman, the investor known for his prediction of the 2008 economic crisis, portrayed by Steve Carell in the movie “The Big Short,” sees no signs of an impending recession, Business Insider reports. Eisman’s Market Outlook: Eisman, the Neuberger Berman portfolio manager, said, “So far, there’s no evidence of a recession. So as long as there’s no evidence of recession, I think the market will probably continue to melt up — people are chasing.” However, he notes the possibility of more economic tightening and that three more hikes might be coming son. The Federal Reserve’s hiking cycle, Eisman believes the market will continue to rally as long as there’s no recession in sight. See Also: Nvidia Takes The Crown As AI Chip Winner, Intel And AMD Still Have Potential: Analyst AI-Linked Stocks and Market Broadening: Eisman also commented on the strength of AI-linked stocks, suggesting they will continue to gain as long as interest doesn’t climb too far up. He sees a possible correction at some point. “The bigger issue for me is that, at this point, AI only benefits a handful of very, very large companies,” he said. Read Next: Ross Gerber Praises Elon Musk’s Tesla FSD: “Whole Thing Is Just Way Better” Image via Shutterstock
Dogecoin Co-Creator Finds ChatGPT Parent CEO Sam Altman's Worldcoin 'Creepy And Weird' 2023-07-25 - Dogecoin DOGE/USD co-creator Billy Markus, also known by his pseudonym Shibetoshi Nakamoto, referred to the newly launched cryptocurrency Worldcoin as “creepy and weird.” What Happened: Markus’s comment came in response to a tweet from Jack Dorsey, where Dorsey mentioned, "visit the Orb or the Orb will visit you…" The Orb is a key component of the Worldcoin project, spearheaded by Sam Altman, CEO of OpenAI and the mind behind AI models like ChatGPT. Worldcoin aims to address the global challenge of aligning economic incentives and human identity. The small device, referred to as the Orb, scans individuals’ eyes to generate a unique digital identity, known as a World ID. This World ID serves as proof of personhood, an essential tool in an era where artificial intelligence blurs the boundaries between human and machine creations. Although Altman acknowledges that the journey will be arduous and the outcome uncertain, the increasing interest in AI may provide favorable momentum for the Worldcoin project. The whitepaper outlines Worldcoin’s mission to establish a globally inclusive identity and financial network, thereby enhancing economic opportunities and paving the way for global democratic processes, alongside the potential for an AI-funded universal basic income (UBI). See More: A Stay At The Floating Palace From James Bond's ‘Octopussy’ Why It Matters: Bitcoin BTC/USD operates by issuing tokens to secure its network, while Ethereum ETH/USD focuses on facilitating decentralized applications and smart contracts. In a similar vein, Worldcoin issued tokens with the goal of expanding its own network, leveraging security measures inherited from Ethereum. In addition to Markus expressing his unease about Worldcoin’s proof-of-personhood system, another prominent figure, Vitalik Buterin, co-founder of Ethereum, has voiced concerns as well. Buterin highlighted his reservations about the system as Worldcoin goes live on Binance, indicating potential skepticism within the crypto community about the project’s approach. Price Action: At the time of writing, DOGE was trading at $0.076, up 7.99% in the last 24 hours, according to Benzinga Pro. Read Next: Dogecoin Spikes, Bitcoin, Ethereum Drop While Vitalik Buterin Raises Concerns Around WorldCoin: Analyst Predicts $100K Mark For King Crypto After 50% Drop Join Benzinga’s Future of Crypto in NYC on Nov. 14, 2023, to stay updated on trends like AI, regulations, SEC actions & institutional adoption in the crypto space. Secure early bird discounted tickets now!
Uber Launches 1st Ever Joint Service With Railway Carrier In War-Torn Ukraine - Uber Technologies (NYSE:UBER) 2023-07-25 - Uber Technologies Inc UBER has made history by launching its first-ever collaboration with a railway carrier, and that too in a war-torn nation. What Happened: Partnering with Ukrainian Railways (Ukrzaliznytsia, or UZ), the new service named Uber Travel integrates Uber rides with UZ train journeys, offering passengers a unique and convenient travel solution, as reported by The New Voice of Ukraine. The move comes against the backdrop of Russia’s invasion of Ukraine, which began in February 2022. How It Works: In the city of Kyiv, where the service has debuted, Uber Travel enables passengers to plan their trips to or from railway stations in advance, with all travel details accessible in the app’s Travel tab. Moreover, users can now enjoy a 10% cashback on their journeys to and from railway stations when booked through Uber Travel. See Also: Russia Is Seizing European Company Assets — What US Businesses Are Still At Risk? Why It Matters: Recognizing the difficulties faced by people in Ukraine due to safety concerns and limited air travel during the ongoing war, Uber’s Country Manager for Ukraine and the Baltics, Kateryna Netymenko, expressed excitement about the collaboration, highlighting its significance in such challenging times. “We’re thrilled to present a solution in partnership with Ukrzaliznytsia aimed at simplifying travel during these difficult times. We’re also proud that Ukraine is the first country where we’ve initiated such an integration with a railway carrier,” she said, according to the report. Uber CEO Dara Khosrowshahi tweeted about the launch of the service, saying, “Excited to now launch a new integration w/ @Uber Travel, making it seamless for UZ passengers to reserve rides to and from the station. Built for Ukraine but scaling tech across the world.” Read Next: Ross Gerber Praises Elon Musk’s Tesla FSD: ‘Whole Thing Is Just Way Better’ Photo by Alex Photo Stock on Shutterstock
Elon Musk's Tesla To Discuss Low-Cost Car With Indian Government — Aims For A Price Below Model 3 in China: Report 2023-07-25 - This story was first published on the Benzinga India portal. Electric car maker Tesla Inc TSLA is set to resume talks with the Indian government to establish a factory in the country to manufacture low-cost EVs, including a new $24,000 (INR 2 million) car. What Happened? Tesla representatives are scheduled to meet India’s commerce minister this month to further discuss the plans, which include setting up an EV supply chain and land allotment for a factory, sources with direct knowledge of the matter told Reuters. Tesla has been looking to make a foray into the Indian market as it makes an effort to diversify beyond China. It was previously reported that the US company plans to build up capacity to manufacture 500,000 cars in the country every year. See Also: Tesla’s India Charge: Can Local Manufacturing Overcome Pricing, Charging Challenges? Tesla has also reportedly been keen on bringing its own supply chain to the country and continues to push for tax breaks in the South Asian nation. Why It Matters: The proposed $24,000 EV model would be 25% cheaper than Tesla’s current lowest-priced offering, the Model 3 sedan in China, which sells for over $32,200 (INR 2.6 million). The company aims to make significant progress in the Indian market and meet the country’s growing demand for electric vehicles. This would be the highest-level meeting between Tesla and Indian government officials since Tesla CEO Elon Musk met with Prime Minister Narendra Modi in June and said he intended to invest significantly in the country. Electric vehicles currently account for less than 2% of total vehicle sales in India, the world’s third-largest market for automobiles. Read Next: Tesla Sets Up For India Entry: Plans For Local Assembly And Vendor Base On The Horizon
Investor Optimism Improves Further After Dow Rises For 11th Straight Session - General Electric (NYSE:GE), Domino's Pizza (NYSE:DPZ) 2023-07-25 - The CNN Money Fear and Greed index showed further improvement in overall sentiment among U.S. investors on Monday. The Dow Jones moved higher on Monday, recording its longest winning streak since Feb. 2017 ahead of major policy decision from the U.S. Federal Reserve. The index notched gains for the eleventh straight session. Domino's Pizza Inc DPZ reported better-than-expected earnings for its second quarter, while sales missed estimates. After the closing bell, NXP Semiconductors N.V. NXPI reported better-than-expected results for its second quarter and issued strong forecast for the third quarter. The Dow Jones closed higher by around 184 points to 35,411.24 on Monday. The S&P 500 rose 0.40% at 4,554.64, while the Nasdaq Composite added 0.19% at 14,058.87 during the session. Investors are awaiting earnings results from Microsoft Corporation MSFT, Alphabet Inc. GOOGL, General Electric Company GE and General Motors Company GM today. At a current reading of 83.0, the index remained in the "Extreme Greed" zone, versus a previous reading of 82.0 What is CNN Business Fear & Greed Index? The Fear & Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness. Read Next: Top 5 Health Care Stocks That May Collapse In July
Donald Trump Berates Senate Republicans For Not Going After Joe Biden 2023-07-25 - Former President Donald Trump on Monday expressed dissatisfaction with Senate Republican leaders for their lack of criticism towards President Joe Biden. What Happened: Trump took to his social media platform Truth Social to denounce the Senate GOP leaders for not being as critical of Biden as their House counterparts. "Joe Biden is the most corrupt President in the history of the United States, which is being undeniably proven in the House of Representatives every single day," Trump said. See Also: Trump’s Ex-Lawyer Ends Legal Battle Over Unpaid Dues With Trump Organization Through Settlement "But with all of these horrible revelations and facts, why hasn't Republican ‘leadership' in the Senate spoken up and rebuked Crooked Joe Biden and the Radical Left Democrats, Fascists, and Marxists for their criminal acts against our Country, some of them against me. How long does America have to wait for the Senate to ACT?" he added. Why It Matters: House Republicans have been characterizing Biden and the Department of Justice as corrupt, citing the DOJ’s prosecution of Hunter Biden as evidence. They claim that Hunter Biden was given a too-lenient sentence, among other allegations. Trump, who is a frontrunner for the GOP's 2024 nomination, is facing significant legal issues and potential indictments. His criticism of Biden comes on the heels of his recent comments about the president, where the ex-leader called him a “very stupid person.” In an interview, Trump stated that he had not gone after Biden as much as he could have out of respect for the presidency. Read Next: Chris Christie Calls Trump A Liar, Says Republicans Are Afraid Of The Ex-President, Targets Biden's Age
TSMC to invest $2.9 billion in advanced chip packaging plant in Taiwan 2023-07-25 - TSMC is the top producer of the world's most advanced processors, including the chips found in the latest iPhones, iPads and Macs. Taiwan Semiconductor Manufacturing Company plans to invest nearly $90 billion New Taiwan dollars (about $2.87 billion) in an advanced chip packaging plant in Taiwan, the company told CNBC on Tuesday. It comes as global chipmakers seek to capitalize on the artificial intelligence boom. TSMC acknowledged last week that there is a strong demand for AI chips. TSMC is the top producer of the world's most advanced processors, which include chips found in the latest iPhones, iPads and Macs. The investment was sparked by "the rapid growth of the AI market" which has "driven a surge in demand for TSMC's advanced packaging," according to a report from Taiwan's official Central News Agency. The facility will be located in Tongluo Science Park in northern Taiwan, TSMC said, adding the investment is expected to create about 1,500 local jobs. "For AI, right now, we see a very strong demand. For the front-end part, we don't have any problem to support," said TSMC's CEO C. C. Wei during the firm's second quarter earnings report last week. However, on the advanced packaging side, Wei said TSMC is experiencing "some very tight capacity." "We are increasing our capacity as quickly as possible and we expect that these tightenings will be released next year, but in between, we're still working closely with our customers to support their growth," he said Thursday. Packaging is one of the final stages of semiconductor production. It involves putting chips into a protective case and creating the connections for it to be put into an electronics device. The Central News Agency reported that TSMC's packaging production capacity "is in short supply" as Nvidia and AMD compete for capacity. U.S.-based chip giants Nvidia and AMD are two of TSMC's largest clients.
CNBC Daily Open: Even meme stocks are rallying in this market 2023-07-25 - This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here . Stocks rally Major U.S. stock indexes ended Monday in the green, with the Dow Jones Industrial Average notching an 11-day winning streak. Asia-Pacific markets traded higher Tuesday on the back of China's Politburo meeting (more on that below). Hong Kong's Hang Seng Index surged more than 3% as Chinese stocks jumped. Mainland China's Shanghai Composite and Shenzhen Component rose around 2%. China's 'tortuous' recovery China's Politburo, the top decision-making body of the Chinese Communist Party, met Monday and pledged to "adjust and optimize policies in a timely manner" for its property sector. Acknowledging the country's disappointing economic data, the Politburo said "the economy is facing new difficulties" and that the economic recovery will be "tortuous" — though it didn't announce any major stimulus for now. Ex-Twitter Twitter rebranded to "X" and dumped its iconic bird logo. The transition from Twitter to X is part of owner Elon Musk's vision to turn the platform into an "everything app" that is "centered in audio, video, messaging, payments/banking," according to CEO Linda Yaccarino's tweet — sorry — "x," in the brand's new parlance for short messages. Analysts are skeptical of the move. Busy week for central banks The U.S. Federal Reserve, the European Central Bank and the Bank of Japan will all announce interest rate decisions this week. Analysts are expecting the Fed to hike rates by 25 basis points; the ECB to raise rates by 25 basis points as well; and the BOJ to keep its ultra-loose monetary policy intact. However, the central banks could pivot at the meeting following this week's. [PRO] Compound dividends Investors don't buy stocks just for the prospect of profits as prices rise. Dividends, or payouts, are a large part of stocks' appeal too. Using FactSet data, CNBC Pro screened 100,000 stocks to identify just four major stocks from around the world that have raised dividends by more than 10% annually over the past 15 years.
What new norm of slower Chinese growth could mean for the global economy 2023-07-25 - A view of high-rise buildings is seen along the Suzhou Creek in Shanghai, China on July 5, 2023. Ying Tang | NurPhoto | Getty Images The Chinese economy could be facing a prolonged period of lower growth, a prospect which may have global ramifications after 45 years of rapid expansion and globalization. The Chinese government is ramping up a host of measures aimed at boosting the economy, with leaders on Monday pledging to "adjust and optimize policies in a timely manner" for its beleaguered property sector, while pushing stable employment towards a strategic goal. The Politburo also announced pledges to boost domestic consumption demand and resolve local debt risks. related investing news China's earnings season is just getting started. Here are some winners to watch Chinese gross domestic product grew by 6.3% year-on-year in the second quarter, Beijing announced Monday, below market expectations for a 7.3% expansion after the world's second-largest economy emerged from strict Covid-19 lockdown measures. On a quarterly basis, economic output grew by 0.8%, slower than the 2.2% quarterly increase recorded in the first three months of the year. Meanwhile, youth unemployment hit a record high 21.3% in June. On a slightly more positive note, the pace of industrial production growth accelerated from 3.5% year-on-year in May to 4.4% in June, comfortably surpassing expectations. The ruling Chinese Communist Party has set a growth target of 5% for 2023, lower than usual and notably modest for a country that has averaged 9% annual GDP growth since opening up its economy in 1978. Over the past few weeks, authorities announced a series of pledges targeted at specific sectors or designed to reassure private and foreign investors of a more favorable investment environment on the horizon. watch now However, these were largely broad measures lacking some major details, and the latest readout of the Politburo's quarterly meeting on economic affairs struck a dovish tone but fell short of major new announcements. Julian Evans-Pritchard, head of China economics at Capital Economics, said in a note Monday that the country's leadership is "clearly concerned," with the readout calling the economic trajectory "tortuous" and highlighting the "numerous challenges facing the economy." These include domestic demand, financial difficulties in key sectors such as property, and a bleak external environment. Evans-Pritchard noted that the latest readout mentions "risks" seven times, versus three times in the April readout, and that the leadership's priority appears to be to expand domestic demand. "All told, the Politburo meeting struck a dovish tone and made it clear the leadership feels more work needs to be done to get the recovery on track. This suggests that some further policy support will be rolled out over the coming months," Evans-Pritchard said. "But the absence of any major announcements or policy specifics does suggest a lack of urgency or that policymakers are struggling to come up with suitable measures to shore up growth. Either way, it's not particularly reassuring for the near-term outlook." Triple shock The Chinese economy is still suffering from the "triple shock" of Covid-19 and prolonged lockdown measures, its ailing property sector and a swathe of regulatory shifts associated with President Xi Jinping's "common prosperity" vision, according to Rory Green, head of China and Asia research at TS Lombard. As China is still within a year of reopening after the zero-Covid measures, much of the current weakness can still be attributed to that cycle, Green suggested, but he added that these could become entrenched without the appropriate policy response. "There is a chance that if Beijing doesn't step in, the cyclical part of the Covid cycle damage could align with some of the structural headwinds that China has — particularly around the size of the property sector, decoupling from global economy, demographics — and push China on to a much, much slower growth rate," he told CNBC on Friday. watch now TS Lombard's base case is for a stabilization of the Chinese economy late in 2023, but that the economy is entering a longer-term structural slowdown, albeit not yet a Japan-style "stagflation" scenario, and is likely to average closer to 4% annual GDP growth due to these structural headwinds. Although the need for exposure to China will still be essential for international companies as it remains the largest consumer market in the world, Green said the slowdown could make it "slightly less enticing" and accelerate "decoupling" with the West in terms of investment flows and manufacturing. For the global economy, however, the most immediate spillover of a Chinese slowdown will likely come in commodities and the industrial cycle, as China reconfigures its economy to reduce its reliance on a property sector that has been "absorbing and driving commodity prices." "Those days are gone. China is still going to invest a lot, but it's going to be sort of more advanced manufacturing, tech hardware, like electric vehicles, solar panels, robotics, semiconductors, these types of areas," Green said. "The property driver — and with that, that pool of iron ore from Brazil and/or Australia and machines from Germany or appliances from all over the world — has gone, and China will be a much less important factor in the global industrial cycle." Second order impacts The recalibration of the economy away from property and toward more advanced manufacturing is evident in China's massive push into electric vehicles, which led to the country overtaking Japan earlier this year as the world's largest auto exporter. "This shift from a complementary economy, where Beijing and Berlin kind of benefit from each other, to now being competitors is another big consequence of the structural slowdown," Green said. He noted that beyond the immediate loss of demand for commodities, China's reaction to its shifting economic sands will also have "second order impacts" for the global economy. "China is still making a lot of stuff, and they can't consume it all at home. A lot of the stuff they're making now is much higher quality and that will continue, especially as there's less money going into real estate, and trillions of renminbi going into these advanced tech sectors," Green said. watch now
General Motors is set to report earnings before the bell. Here's what Wall Street expects 2023-07-25 - DETROIT — General Motors is set to report its second-quarter earnings before the bell Tuesday. The Detroit automaker is expected to report solid results, driven by favorable industry trends of high prices on new vehicles and increased sales and production. Here's what Wall Street is expecting, according to Refinitiv consensus estimates: Adjusted earnings per share: $1.85 $1.85 Revenue: $42.64 billion Those results would mark sharp year-over-year increases of roughly 62% in adjusted EPS and 19% in revenue. Some Wall Street analysts believe GM could raise its guidance for a second time this year on the back of stronger-than-expected sales and vehicle pricing for the second quarter. But the company may remain conservative due to potential challenges during the second half of the year, including softening prices and contract negotiations with the United Auto Workers union. GM previously issued 2023 forecasts of adjusted earnings between $11 billion and $13 billion, or $6.35 to $7.35 a share, and adjusted automotive free cash flow between $5.5 billion and $7.5 billion. Net income is expected to be $8.4 billion to $9.9 billion. When reporting its first-quarter results in April, the automaker increased its adjusted earnings guidance and free cash flow but lowered its forecasted net income due to $875 million in special charges related to a previously announced employee buyout program during the quarter. Shares of GM are up roughly 16% this year. They closed Monday at $39.30 per share — off from a 52-week high of $43.63 per share, notched in February.
Chinese stocks pop as Beijing vows more measures to boost weak economy 2023-07-25 - A Nanjing Road pedestrian street on October 1, 2022 in Shanghai, China. Yan Daming | Visual China Group | Getty Images watch now China's top leaders met Monday for the much-anticipated Politburo meeting and hinted at moves to "adjust and optimize" property policy in what the leadership called a "torturous" economic recovery. State news agency Xinhua quoted the 24-member Politburo as saying "the economy is facing new difficulties and challenges." That's mainly due to weak domestic demand, operational challenges for companies as well as "a grim and complex external environment," it said. "The meeting emphasized that it is necessary to actively expand domestic demand, give full play to the basic role of consumption in driving economic growth, expand consumption by increasing residents' income," according to Xinhua. watch now "It is necessary to boost the consumption of automobiles, electronic products, and home furnishing, and promote the consumption of services such as sports, leisure, and cultural tourism," said the report. Hong Kong-listed shares of internet giants rose on Tuesday. Alibaba shares soared 4.7%, while Tencent was up nearly 4%. Meituan and Baidu shares were higher by 5.7% and 6.8% respectively. In the electric vehicle space, Xpeng soared 11%, Li Auto was up 4.15% and BYD rose 2%. "This is a reconfirmation that the [Chinese] policymakers have heard the market concern on more support needed for the domestic economy," said Xiaolin Chen, head of international at KraneShares, on CNBC's "Street Signs Asia" Tuesday. "They want to achieve the 5% GDP target of this year. The first job they need to do is to create jobs for the labor force in China," said Chen. "I do certainly see some encouraging language released from the statement that removed a lot of the concerns of people having a high focus on real estate market, employment, private investment, and so on. So far, the language has been encouraging."
She traveled to Japan more than 50 times. Here are 3 life habits she learned from the country 2023-07-25 - Cheesie's love for Japan was evident even before her big move to Tokyo — the Malaysian had traveled to Japan at least 56 times and covered all 47 prefectures. When Malaysia announced a Covid-19 lockdown would take effect on March 18, 2020, Cheesie decided to move to Japan in a "spur of the moment." "I bought the last flight out on the 17th. I told myself, 'If I'm going to be stuck in a lockdown, I wanted to be in Japan.'" The 39-year-old blogger's love for Japan was evident even before her big move to Tokyo — the Malaysian had traveled to Japan at least 56 times and covered all 47 prefectures. It got to a point where I gave up traveling the world … the more I went to Japan, the more obsessive I got. Cheesie Blogger "I love Japan very much and very [intensely]. I used to travel to other countries but every time I was somewhere else, I would always be like, 'Why am I not in Japan instead?'" she added. "It got to a point where I gave up traveling the world … the more I went to Japan, the more obsessive I got." Cheesie's love for Japan goes beyond its delicious food and the more tangible aspects of its rich culture. She said the country's practices and philosophies have greatly enriched her life, and tells CNBC Make It about three of them. 1. Gratitude In Japan, it's not difficult to find something new to be thankful for each day, said Cheesie. That's because the practice is "carefully incorporated into daily life." One example of that is saying "itadakimasu" before you eat, which means receiving the food in front of you with humility — a way of showing appreciation for everyone involved in its preparation. And saying "otsukaresama desu" to your colleagues after a long day of work is a way to recognize and thank them for their hard work. "These are the small things or gestures that I find really fascinating, and it makes appreciating things a lot easier in life," Cheesie said. Cheesie's love for Japan is also deeply rooted in how it has taught her to accept herself and circumstances. "Generally, people are really nice and courteous in Japan. And it is only natural that if people are nice to you, you'll be nice to people," she said. "That became the nature of my being here — giving and receiving kindness." That's a huge change from who she was — a "very mean self-critic" who always thought she wasn't good enough. I became a person that I liked. This country changed my life. Cheesie Blogger "I became a person that I liked. This country changed my life." Cheesie shared her experience undergoing four days of "Yamabushi training" last year at Dewa Sanzan, the three mountains in Yamagata Prefecture that are believed to be sacred. "In ancient times, it was practiced by monks who lived ascetic life in the mountains," she said. "But in modern day, it is customized for urban people where they go into the mountains and pray for four days without talking." Cheesie underwent four days of "Yamabushi training" last year at Dewa Sanzan, the three mountains in Yamagata Prefecture that are believed to be sacred. Cheesie The only word one could utter was "uketamo," or "unconditional acceptance" of your surroundings. "Even if it starts raining or you have no food, you have to accept it. You can only say 'uketamo,'" Cheesie added. The "transformative experience" allowed her to master the art of acceptance in life, regardless of life's ups and downs. "It is one of the most powerful tools that I've picked up." 3. The traditional way of life Cheesie, who was previously based in Singapore and Malaysia, said that in comparison to Japan — those countries have become "too modernized." In Japan, you can still experience the traditional way of life in nature, away from the hustle and bustle of cities like Tokyo and Osaka. For example, she recently visited Kudaka — a remote island of Okinawa — where she saw islanders catching poisonous sea snakes with their bare hands without netting or tools. Pictured here is "irabu-jiru", or sea snake soup, a delicacy from Kudaka island. The poisonous serpent is caught by the islanders' bare hands. Cheesie
Twitter is now X. Here's what that means. 2023-07-25 - Big changes to Twitter Big changes to Twitter 01:21 The internet is abuzz as the app formerly known as Twitter announced a name change over the weekend. X.com now redirects to Twitter.com, although the social media platform still invites users to "tweet." The rebrand is another step in the ongoing transformation of Twitter, an online watering hole for hyper-connected people that aspires to become an app that can do "everything," according to CEO Linda Yaccarino. "X is the future state of unlimited interactivity — centered in audio, video, messaging, payments/banking — creating a global marketplace for ideas, goods, services and opportunities," she said on the platform. "Powered by A.I., X will connect us all in ways we're just beginning to imagine." Here's what the shift means for X as Elon Musk seeks to reinvent Twitter, which he bought in 2022 for $44 billion. A worker removes letters from the Twitter sign that is posted on the exterior of Twitter headquarters on July 24, 2023, in San Francisco, California. Getty Images What will the app do now? Musk has been vocal about his goal of turning Twitter into a so-called super-app, something akin to China's WeChat. For now there's no American equivalent, but industry experts imagine an app that encompasses basically anything a person wants to do online. "Consumers of the app can do a lot of different things on the platform, whether it's listen to a podcast, shop, watch videos," said Nii Ahene, chief strategy officer of marketing firm Tinuiti. Twitter already lets users engage in live audio conversations, send longer text messages and broadcast video, such as the new show former Fox News host Tucker Carlson recently launched on the platform. If Twitter's push into paid subscriptions is successful, it could eventually expand into sharing some subscription revenue with users. "In theory, they can become a more mainstream version of Patreon or other similar platforms," Ahene said. "Whether they succeed remains to be seen. It's not the reason people go to Twitter today, so to reposition the company … would take significant investment and time with what's really a skeleton team." What's with the letter X? Musk appears to have a longstanding fixation on the letter X, dubbing his very first startup X.com. (After a merger, the app became PayPal, although Musk reportedly pushed for it to keep the name X, according to biographer Walter Isaacson.) After buying Twitter, Musk reportedly texted Isaacson that he was "very excited about finally implementing X.com as it should have been done, using Twitter as an accelerant!" The letter X surfaces throughout Musk's other endeavors as well, including his space-exploration venture SpaceX, his recently launched artificial-intelligence app xAI and the Model X, one of electric car company Tesla's earliest models. Musk even refers to his son with singer Grimes, by the name X. "It's just X, the letter X," he said on the Joe Rogan Experience recently, explaining how to pronounce his son X Æ A-XII's name. Musk regained ownership of X.com six years ago. He formally changed Twitter's legal name to X Corp in April. Over the weekend, X.com was redirected to Twitter.com, and on Monday a crane began to remove Twitter's iconic bird logo from the company's San Francisco headquarters. However, police stopped the work soon after it began. A worker stacks letters removed from the Twitter sign on Twitter headquarters in San Francisco, on July 24, 2023. Getty Images What does this mean for Twitter? For now, the platform's rebrand is just a name change — no new features have been introduced, staying true to Musk's apparent preferred product strategy of hype first, delivery much later. But the name change suggests Musk is likely to keep control of the company for the near future, said Bloomberg Intelligence analyst Mandeep Singh. After Musk's takeover in April of 2022, some observers believed the billionaire could make some changes to Twitter and quickly flip it to a different owner, Singh said. "That option is off the table now given the name change — I don't think there's any other prospective buyer who will take it now," he said. What are the roadblocks? To be sure, there are many ways an "everything app" could fail, from simply confusing its users to struggling to attract enough advertisers. "If you look at what Tesla's done in terms of advertising, which is very little, [Musk's] belief is that good product sells itself and you don't need to advertise it. Meanwhile, you have many, many large brands and companies that spend millions of dollars on Twitter and would beg to differ," said Aaron Goldman, chief marketing officer for Mediaocean, an advertising partner of Twitter's. Owner Elon Musk rebranded Twitter as "X." / Getty Images Expanding the platform's reach to include things like shopping and paid subscription content could actually help it flourish in the long term by creating several revenue streams and making it less reliant on large companies' willingness to spend money, analysts said. In the short term, building out those capabilities would require a massive investment in staff and infrastructure. It's far from clear if a company that slashed about three-quarters of its staff and is now embroiled in multiple lawsuits over unpaid bills can deliver that. "The investment is a lot in terms of cloud infrastructure — we're talking about $40 billion, $50 billion in upfront investments," Singh said. "Twitter as a standalone app doesn't have the infrastructure to become an everything app."