Founder and CEO of Amazon, Jeff Bezos has announced he will step down and become executive chairman. Andy Jassy, the current cloud computing chief, will become the next CEO stated for the third quarter.
Based on a memo posted for Amazon employees, Bezos noted: “As Exec Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions.”
–0 to $1.5t (nobody in history); –Turned biggest cost centers into profit centers (nobody in history); –Established recurring revenue relationship w/82% of US households (nobody in history); and –Hired 500k+ people in 12 months (nobody in history)#Bezos
Though his Exec Chair position may mean that very little changes going forward, based on the challenging prospects for the huge and much criticized firm it may indeed signal the end of an era.
Apple gets serious about exploitative surveillance business models, and it’s about time
Six months ago when we first published “Cracks in The Wall: Apple, Google, Amazon and Facebook Silently Declare Wars Against Each Other” we were worried. Although we firmly believed it was a just war, and that the time was at hand for the rotten underbelly of the internet and, more than anything else, for the business model of Facebook to be excoriated out in the open, using the term “war” in conjunction with Apple seemed over-the-top and even inflammatory.
We stuck with the title and now, looking back, it was accurate if not 100% polite. After new privacy features in iOS 14 and macOS Big Sur were made public, Facebook and Zuckerberg took it as an attack on its tracking-first-business model and fought back with some rhetoric about how Apple was going to harm small businesses.
The first feeble attempt at fighting back was a full page ad in the New York Times, the Washington Post, and other outlets, where Facebook alleged: “these changes will be devastating to small businesses” with the supposition that small businesses depend on Facebook’s darling invention; tracking-based advertising, and need it to build their brands and to sell products.
Missing from this self-serving logic is the price of this form of targeting and data collection – in dollars, literally billions of them charged to those same small businesses, and in the cost to virtually all “users” who’s privacy is sacrificed with little to no consumer benefit and many, many potential detriments.
This is not just some sort of scrap between rival companies, it’s all our futures at stake
With the salvo of clear and decisive comments made by Tim Cook at the Computers, Privacy and Data Protection conference, and in interviews with various magazines, the righteous and timely battle against demonstribly evil internet business models is for real now, with the unnamed but obviously targeted Facebook at the top of the list.
The quote from Tim Cook in the title above exactly captured the current reality: the excellent documentary titled ‘The Social Dilemma’ did not go nearly far enough in exposing the danger of surveillance based business models that should not be allowed to exist
As if Facebook has ever been a friend to small business. The concept that has been clear for many years is that the surveillance capitalism, for the most part invented by Facebook, that Apple is now declaring war against, was always an obscene and disastrous one for every person on the planet, other than Mark Zuckerberg.
“If a business is built on misleading users, on data exploitation, on choices that are no choices at all, it does not deserve our praise. It deserves reform,”
Apple CEO, Tim Cook, speaking at the Computers, Privacy and Data Protection conference
However, with a vast power over almost all digital advertising (sharing, with Google, more than 70%) and no competition to speak of where anyone could go for “social media” access, 3-5 years ago it was hard to imagine how anything could slowdown, let alone stop, Facebook’s inexorable rise.
In what will be a huge theme for this decade, only giants can fight and hope to win against other giants.
Right now, as of Tim Cook’s declaration of war on the “data-industrial complex” and with numerous anti-trust and other legal actions against Facebook pending, it suddenly seems plausible that a real change, a much needed change, could finally come in the way that human beings communicate via that immense network of devices we call the internet.
“Technology does not need vast troves of personal data, stitched together across dozens of websites and apps, in order to succeed.”
— Tim Cook
In an exclusive interview with Michael Grothaus at Fast Company Cook stated: “In terms of privacy—I think it is one of the top issues of the century, we’ve got climate change—that is huge. We’ve got privacy—that is huge. . . . And they should be weighted like that and we should put our deep thinking into that and to decide how can we make these things better and how do we leave something for the next generation that is a lot better than the current situation.” (emphasis mine)
This statement, though perhaps hyperbolic to some, is at the heart of our coverage of Apple, Google, Facebook and “Big Tech” in general over the last few years. In fact, this idea can go further and deeper as… “privacy” is just the tip of the iceberg and the predatory infrastructure that the data-collection and exploitation business model enables is even more dangerous and is a threat to the entire economy.
Of the new “Big 5” (Apple, Musk, Facebook, Google, Amazon) only Apple and the affiliated Elon Musk enterprises actually have proprietary products or products and services that benefit humanity in a concrete way.
Elon Musk has sustainable energy and sustainable transportation as stated goals of Tesla, while SpaceX, has reaching Mars (to give earthlings a second planet available in case we screw this one up) and, now with Starlink, building a second broadband internet backbone in space.
Apple, while on the one hand being inadvertently responsible for both Google and Facebook in different ways (more on that soon in a subsequent post), is at the heart of the real reason why internet business models and structures are key to our survival and to humanity’s ability to survive and reverse global warming by evolving, enhanced communication.
Apple is no longer just an electronic device maker. Software, hardware, A.I., possibly an electric car, and services are all merging and reaching what we call “Apple Singularity”. Apple has the potential to trigger a monumental shift in the ways we communicate online – networked human communication – away from the trash-filled nightmare of the present day – where three obscenely massive companies: Facebook, Google and Amazon, have built business models that do not rest on innovative products or services but on predatory systems that enslave users, gouge small businesses and do very little in adding benefit to humanity as a whole.
“At a moment of rampant disinformation and conspiracy theories juiced by algorithms, we can no longer turn a blind eye to a theory of technology that says all engagement is good engagement — the longer the better — and all with the goal of collecting as much data as possible. It is long past time to stop pretending that this approach doesn’t come with a cost — of polarization, of lost trust and, yes, of violence”
Tim Cook
What the three massive deadbeats do is make a small handful of individuals and shareholders very rich. Fortunately, the issues with these business models are finally being questioned. But this is only the beginning.
The unthinkable is now at least possible to imagine: a world where Facebook does not have unlimited power to take, and profit from, our data
Once a real understanding of the degree of inferiority of these models, when measured by the costs vs. the benefit to humanity itself, becomes clearer, the government regulation and involuntary changes forced by the market will begin and quickly accelerate.
It is the combination of the lack of substance or concrete contribution by firms with a predatory business model casing the harm, in ways that are partially invisible, up until now, and make them so dangerous.
The danger is social, political, and in then end affects our economy and the lives of nearly every person who uses the services of those companies. Which is very nearly the entire population.
The economic damage that is being caused by the business models invented by these companies is, much like global warning, so massive that it threatens the entire planet, but the lack of attention we are giving it is based on ignorance of the magnitude of the danger.
Apple and Tim Cook’s perspective is extremely important and key to lighting a spark to ignite fires that will burn away that ignorance. The “big-tech” world that Apple, led by Steve Jobs, had a huge hand in creating, desperately needs a shake up and it needs to start now. This has nothing to do with a handful of huge companies fighting over control of the internet – it’s not about one winning, it’s about further damage being stopped, and a new, better internet being allowed to emerge.
Now, Tim Cook and Apple are beginning a long battle to make that happen on behalf of all of us.
Right now, the best movies on the financial crises of 2008 and 2000 and stock trading in general are all trending on the streaming rental market, since they are nearly impossible to find on subscription based platforms such as Netflix, HBO Max, Disney +, etc.
As a result, paid views have skyrocketed, for example, on iTunes, where “The Big Short” is #3 and “Wolf on Wall Street” is #4
This surge applies to other films such as the excellent ‘Boiler Room” with Giovanni Ribisi. The films are all excellent and worth paying for if the chaotic craze with huge money gained and lost with GameStop, AMC and the whole Reddit, Robinhood brouhaha has you curious to learn more about the financial markets.
Click to buy “The Big Short” and help Lynxotic and all Independent Local Bookstores. Also available on Amazon.
The reality is sinking in, slowly, that the future is truly unknowable and that big changes and even bigger challenges are looming. Twin shocks of a health emergency and a financial crisis, intertwined and yet with separate trajectories, are still to be resolved in our near future.
And then there’s the myriad of other challenges that were already acute, such as global warming and the “other” epidemic; corruption and greed. It’s almost too much to face up to, and no one can be blamed for wanting to just turn away.
Too much has been glossed over. After the 2008 crisis we all just wanted to put that ugly mess behind us and get on with our lives. I suppose the criminals that netted billions as a “reward” for almost destroying the entire global economy were also eager to just move on.
All that as it may be, perhaps, a way to begin the process of regaining our courage and looking into the future with some kind of hope, or at least a deeper understanding of the human dilemma and historical precedents, might be to enjoy films about small moments of triumph before great adversity. Here are a few recent options:
Barely 12 years ago, the financial collapse and ensuing “Great Recession” was a nightmare scenario. The aftermath of that debacle is also a contributor to the economic dangers we see before us in 2020. This film, likely the best based on that era, highlights how outsiders and misfits were able to prosper, even as they witnessed the corruption, failure and systemic injustice that brought the world to the brink of total economic chaos.
Starring: Christian Bale, Steve Carell, Ryan Gosling and Brad Pitt.
Want know more about shorting? About the shady and complicated scams? And also see an incredible film?
‘Wolf of Wall Street’:
The Wolf of wall street is simply a great movie. It’s even better though if you watch it in the context of stock market mania. Just like the one that’s happening now.
Beyond the fact that the story is incredibly entertaining it does also get into the heart of the “pump & dump” boiler room mentality. While the so called ‘retail investors” who are riding the Robinhood stock purchasing app to what they see as well deserved revenge on Wall Street, and Belfort who was the real life “Wolf of Wall Street” was more of a wannabe that couldn’t get into the establishment.
He then set forth, with chutzpa and insanity and some drugs, built his own criminal empire, there are some very clear correlations between his tricks that made him rich and what the short-squeezing Reddit & Wall Street Bets chat room vigilantes are doing right now.
Can we all be like the guys, Jordan Belfort or Michael Burry, who was played by Christian Bale in the movie, and even though it was about going short, it’s sill ok, cause, Christian Bale?
History does exist, even if it happened before your uncle was born
Up until 1934 many things were legal and rampant that today, technically, are not allowed. Insider Trading is the most obvious and best defined, look up Martha Stewart and jail time if you want to know more about that.
Collusion in the market is another less well known practice, also known as “pump & dump” that has as many variations as Ponzi schemes and, though illegal, will never be stamped out. The technical terms for Colluding in relation to stock trading are “securities fraud” or “market manipulation.”
Not to get technical but here’s an partial excerpt of the legal specifics:
15 U.S. Code § 78i – Manipulation of security prices
(a) – (2 To effect, alone or with 1 or more other persons, a series of transactions in any security registered on a national securities exchange, any security not so registered, or in connection with any security-based swap or security-based swap agreement with respect to such security creating actual or apparent active trading in such security, or raising or depressing the price of such security, for the purpose of inducing the purchase or sale of such security by others.
Click to buy “Antrhopocene” and at the same time help Lynxotic and All Independent Local Bookstores. Also available on Amazon.
For a bird’s-eye overview and scientific perspective – Athropocene is a film for those ready to think deeply on how, once beyond the immediate danger, we would want to emerge into a new era as a species. A positive reaction to the current crisis, worldwide, has been a series of ideas and proposals that show a willingness to confront the challenges from an entirely new perspective. Maybe new leadership can mean starting over and making a pledge to try a new approach to literally everything.
‘The film follows the research of an international body of scientists, the Anthropocene Working Group who, after nearly 10 years of research, argue that the Holocene Epoch gave way to the Anthropocene Epoch in the mid-twentieth century as a result of profound and lasting human changes to the Earth.”
Cinderella Man
This Depression era feel-good story takes on new meaning as we see a “Great Depression II” potentially looming. Looking for strength and courage facing forces that threaten our survival, and coming out at the end in a better place, that’s a synopsis and blueprint we can all benefit from observing, even if it’s packaged as a Hollywood vehicle. Russel Crowe at his best. Maybe worth a second look.
Want know more about shorting? About the shady and complicated scams? And also see an incredible film?
The Wolf of wall street is simply a great movie. It’s even better though if you watch it in the context of stock market mania. Just like the one that’s happening now.
Beyond the fact that the story is incredibly entertaining it does also get into the heart of the “pump & dump” boiler room mentality. While the so called ‘retail investors” who are riding the Robinhood stock purchasing app to what they see as well deserved revenge on Wall Street, and Belfort who was the real life “Wolf of Wall Street” was more of a wannabe that couldn’t get into the establishment. He then set forth, with chutzpa and insanity and some drugs, built his own criminal empire, there are some very clear correlations between his tricks that made him rich and what the short-squeezing Reddit & Wall Street Bets chat room vigilantes are doing right now.
Can we all be like the guys, Jordan Belfort or Michael Burry, who was played by Christian Bale in the movie, and even though it was about going short, it’s sill ok, cause, Christian Bale?
History does exist, even if it happened before your uncle was born
Up until 1934 many things were legal and rampant that today, technically, are not allowed. Insider Trading is the most obvious and best defined, look up Martha Stewart and jail time if you want to know more about that.
Collusion in the market is another less well known practice, also known as “pump & dump” that has as many variations as Ponzi schemes and, though illegal, will never be stamped out. The technical terms for Colluding in relation to stock trading are “securities fraud” or “market manipulation.”
Not to get technical but here’s an partial excerpt of the legal specifics:
15 U.S. Code § 78i – Manipulation of security prices
(a) – (2 To effect, alone or with 1 or more other persons, a series of transactions in any security registered on a national securities exchange, any security not so registered, or in connection with any security-based swap or security-based swap agreement with respect to such security creating actual or apparent active trading in such security, or raising or depressing the price of such security, for the purpose of inducing the purchase or sale of such security by others.
The reality is sinking in, slowly, that the future is truly unknowable and that big changes and even bigger challenges are looming. Twin shocks of a health emergency and a financial crisis, intertwined and yet with separate trajectories, are still to be resolved in our near future.
Click to buy “The Big Short” and at the same time help Lynxotic and All Independent Local Bookstores. Also available on Amazon.
And then there’s the myriad of other challenges that were already acute, such as global warming and the “other” epidemic; corruption and greed. It’s almost too much to face up to, and no one can be blamed for wanting to just turn away.
Too much has been glossed over. After the 2008 crisis we all just wanted to put that ugly mess behind us and get on with our lives. I suppose the criminals that netted billions as a “reward” for almost destroying the entire global economy were also eager to just move on.
All that as it may be, perhaps, a way to begin the process of regaining our courage and looking into the future with some kind of hope, or at least a deeper understanding of the human dilemma and historical precedents, might be to enjoy films about small moments of triumph before great adversity. Here are a few recent options:
Barely 12 years ago, the financial collapse and ensuing “Great Recession” was a nightmare scenario. The aftermath of that debacle is also a contributor to the economic dangers we see before us in 2020. This film, likely the best based on that era, highlights how outsiders and misfits were able to prosper, even as they witnessed the corruption, failure and systemic injustice that brought the world to the brink of total economic chaos.
Starring: Christian Bale, Steve Carell, Ryan Gosling and Brad Pitt.
Click to buy “Antrhopocene” and at the same time help Lynxotic and All Independent Local Bookstores. Also available on Amazon.
For a bird’s-eye overview and scientific perspective – Athropocene is a film for those ready to think deeply on how, once beyond the immediate danger, we would want to emerge into a new era as a species. A positive reaction to the current crisis, worldwide, has been a series of ideas and proposals that show a willingness to confront the challenges from an entirely new perspective. Maybe new leadership can mean starting over and making a pledge to try a new approach to literally everything.
‘The film follows the research of an international body of scientists, the Anthropocene Working Group who, after nearly 10 years of research, argue that the Holocene Epoch gave way to the Anthropocene Epoch in the mid-twentieth century as a result of profound and lasting human changes to the Earth.”
Facing death constantly is a reality in war times. This story is a testament to resilience and survival against all odds.
Angelina Jolie directs this adaptation from Laura Hillenbrand’s popular book, “Unbroken” stars Jack O’Connell, Domhnall Gleeson, Alex Russell, Miyavi and Finn Wittrock
Cinderella Man
This Depression era feel-good story takes on new meaning as we see a “Great Depression II” potentially looming. Looking for strength and courage facing forces that threaten our survival, and coming out at the end in a better place, that’s a synopsis and blueprint we can all benefit from observing, even if it’s packaged as a Hollywood vehicle. Russel Crowe at his best. Maybe worth a second look.
Click to buy “Unbroken” and at the same time help Lynxotic and All Independent Local Bookstores. Also available on Amazon.
Confusing? Yea, but at the bottom it all it’s just…(parody)
It you have followed any of the unfolding madness with the “retail investors” and the revolution of unstoppable market manipulation that is heroic, not criminal cause, um, the other guys (Wall Street) are much more criminal.
The problem is, it’s all true! Yes, the idea that pumping up GameStop, which is basically a random stock that was cheap and easy to pump. This is basically making a mockery of the traditional idea of investing and of the laws against stock manipulation. But the market is, as so many are pointing out, basically a sham already.
A lot is made of the bad and nasty “shorts” who think that, just because GameStop is a company with basically no future prospects, they think the price would like, do down. Strange. That’s ok though, we can pump it up and the squeeze force the shorty shorts to cover (buy back shares) and that will send the price soaring.
short shorts by Tesla
Then we can all be like the Wolf of Wall Street, Jordan Belfort and also totally like The “Big Short” guy, Michael Burry, who was played by Christian Bale in the movie, and even though it was about going short, it’s sill ok, cause, Christian Bale.
2008 was bad and done by very bad people that got away with it
And yes, it’s pretty much all a nasty business. But the nasty pros are the worst. And the whole system is a sham. And, anyway 2008. Right. Maybe this is like occupy Wall Street but for real. Occupy it literally inside of the market. Where they live.
So, in a nutshell it’s a mockery of a sham. And a travesty. So it’s a mockery of a sham and a travesty.
Seriously., though, perhaps pumping cheap stocks from around 5-10$ up to $500 or higher by coordinated buying executed by internet mobs should be made legal. Each “investor” can jump in and out where-ever they choose and daisy-chain into the wealth that dreams are made of.
Universal basic is basically good, really good
Perhaps this can be the new government stimulus plan. Give every citizen a “free” stock buying app like Robinhood (but a new one cause we all hate those guys now) and have each account pre-loaded with, say, $1000.
Then let everyone know that it’s ok to join Reddit groups or watch TikTok stock market gurus and everyone, like a swarm of locusts can just pump a stock up to the moon and then sell and crash it and move on to the next one.
Naturally, it will be necessary to always start with a stock that is cheap so the early buyers can get really, really rich when the stock (who care what company it is, right?) goes up around 32,000% is, say, a week. That’d be good.
I am looking for how this casino of the common man would be worse that the current system, and it’s hard to find a flaw. Maybe read a book? Naw, just buy and buy and get rich with stonks forever. Amen.
Lots of confusion on all sides. There’s an internet storm brewing over the “injustice” of various entities – a ridiculous “free” trading app called, of all things “Robinhood”, the hedge funds who shorted an obviously overvalued stock. The army of short-squeezers who are screaming bloody murder that they were not able to cash in at the top (or commit Hari-kari by buying more the higher it goes).
And then every pundit in the world sounding off – all the outrage and chaos with Ted Cruz & AOC & Elon Musk & Chris Cuomo & Mark Cuban and probably every celebrity in the world going nuts all at once by tomorrow and all sounding off like crazy over the “injustice”. Shake it up and shake in down.
The sheer volume of confusion over the “Robinhood Revolution” is staggering. Just wait it will be much, much worse. The depth of the ignorance is truly monumental.
Interactive Brokers has put AMC, BB, EXPR, GME, and KOSS option trading into liquidation only due to the extraordinary volatility in the markets. In addition, long stock positions will require 100% margin and short stock positions will require 300% margin until further notice.
Are there bad guys on “Wall Street”? Plenty. Are the google guys day traders that bid up a worthless stock to “burn” hedge funds and get rich quick heroes? Please.
And an App hilariously named “Robinhood” that charge phantom fees rather than stated charges (low, high or whatever) does no “stealing from the rich” and sure as hell no “giving to the poor”.
They told me that the we live in free market capitalist society
They told me:
– Markets are free – Healthy competition is promoted – The same rules apply to everyone – Deck is not stacked against the little guy
Traders and “Wall Street Insiders” know that danger is real. The idea of protecting “retail traders” from risk? As they tap into credit cards to buy worthless stocks that they believe they have a right to pump & dump?
I'm sorry, but if you're gonna freak out when your users start robbing the rich, you can't call yourself "Robin Hood." pic.twitter.com/WwPkO6qdDt
And are they good guys cause they should be able to push the price of a stock endlessly higher for no reason whatsoever except that they get off on the letters from the ticker symbols that happen to sound similar to the ticker for a stock that Elon Musk did a two word tweet about (Signal, etc)?
I accidentally bought 13000 shares of #dogecoin while I was at the gym cause Robinhood froze on me so I didn’t think the order went through. Doubled my money in an hour. First good thing Robinhood ever did for me.
Collusion and getting rich for doing basically nothing should be something that is available to everyone because criminals have gotten away with it left right and center?
Probably best not to name your company or organization or non-profit some form of Robin Hood
Short sellers and now Robinhood are getting critics of all stripes
Tesla CEO Elon Musk wrote in a series of tweets Thursday a litany of anti-short thoughts, punctuated with “get shorty”. Also said he “absolutely” agrees with Rep. Alexandria Ocasio-Cortez, D-NY., that the House Financial Services Committee should launch an investigation into Robinhood because of stock trade restrictions that were put into place by the online app-based brokerage related to GameStop.
Always a master of viral expression, Musk famously marketed “short-shorts” as a dig at short sellers that he felt were unfairly targeting volatile Tesla stock moves. In the end, at least so far, he has always had the last laugh.
u can’t sell houses u don’t own u can’t sell cars u don’t own but u *can* sell stock u don’t own!? this is bs – shorting is a scam legal only for vestigial reasons
Robinhood is blocking “investors” from initiating new positions in GameStop, AMC Entertainment Holdings, American Airlines, BlackBerry Ltd., Bed Bath & Beyond Inc., Express Inc., Koss Corp., Naked Brand Group, Nokia Corp, Trivago, and Tootsie Roll Industries, Inc. They are only permitting them to sell existing holdings. Margin requirements were also increased for various securities.
The actions likely have a two-fold justification, based on the situation. To protect Robinhood from litigation in the even, which is likely, that the stock will collapse and many novice “investors” will get hurt, and ostensibly, to protect the investors themselves.
Rep. Ocasio-Cortez stated: “We now need to know more about @RobinhoodApp’s decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit.” And then added: As a member of the Financial Services Cmte, I’d support a hearing if necessary.
Here come the shorty apologists Give them no respect Get Shorty
The story that won’t stop and the very fine people on all sides
No heroes, plenty of villains and lots and lots of nonsense and stupidity. But before getting into the nuts and bolts of this tragic “new” phenomena, take a second and think about all those media stories, in nearly every online media outlet, even hitting local news.
Each “take” on the story has a different slant and spin and almost none go into the boring and complex technical details of stock trading schemes. Most, it appears, are cheering on, implicitly, the “main street” buyers in an imaginary “war” on Wall Street.
[Disclaimer: Nothing in this article should be construed as legal or financial advice.]
That will get you more clicks.
A few will point out that GameStop, the company that is, which has no real prospect to rise from its comatose state into a Tesla-like world beater, regardless of how high the stock climbs for a few weeks or so.
And they will, rightly, warn that in this game, the “innocent” main street “investor” will lose in the end. Those are the boring stories. Not as many clicks for them.
The longer more accurate story of what is going on touches on the Great Depression, the Dot-com bubble, the financial crisis of 2008 and an understanding of stock trading that goes beyond the patience threshold of the general public and the media, even beyond most so-called Wall Street Insiders.
History does exist, even if it happened before your uncle was born
Up until 1934 many things were legal and rampant that today, technically, are not allowed. Insider Trading is the most obvious and best defined, look up Martha Stewart and jail time if you want to know more about that.
Collusion in the market is another less well known practice, also known as “pump & dump” that has as many variations as Ponzi schemes and, though illegal, will never be stamped out. The technical terms for Colluding in relation to stock trading are “securities fraud” or “market manipulation.”
Not to get technical but here’s an partial excerpt of the legal specifics:
15 U.S. Code § 78i – Manipulation of security prices
(a) – (2 To effect, alone or with 1 or more other persons, a series of transactions in any security registered on a national securities exchange, any security not so registered, or in connection with any security-based swap or security-based swap agreement with respect to such security creating actual or apparent active trading in such security, or raising or depressing the price of such security, for the purpose of inducing the purchase or sale of such security by others.
Enter Reddit’s r/wallstreetbets forum. Not saying that there is anything illegal about “loving” a company as a group and choosing to “support” it by buying its shares.
Even if the motivation (false and imagined) is to “hurt” the short sellers in some kind of Robin Hood attack, that’s probably not something the SEC would care about. Short selling professionals can take care of themselves.
Enter another part of history: the allegedly overvalued company effect
Attacking short sellers has become a kind of sport, particularly when it’s about an emotional connection that was partly responsible for a company’s shares being “overvalued” by traditional metrics in the first place. Once “overvalued” therefore, a target to be sold short by traders and hedge funds that believe in quaint things like profit to earnings ratios and the like.
While company’s share prices being “overvalued” is based on opinion and often wrong, there have been recent cases, since the NASDAQ bubble burst in 2000, that have added a somewhat new, larger, twist on the typical understanding of these types of situations.
Bubble is as bubble does
To take the biggest example, there is Amazon (AMZN) which would take a thousand page book to accurately and fully elaborate on, but for the sake of brevity a couple of points could be made.
It is well known that Amazon posted substantial losses for many years while the stock price generally continued to rise. This was attributed to shareholders’ willingness to forgo proof of financial success within the company and persisted in buying & holding in the hope that share prices would continue to rise and that the company eventually would show profits and more success.
All of that seemed to happen, in the case of Amazon, when viewed casually, and now there is a sense, among some, that overvaluation, in “outlier” cases, is no longer a valid reason to sell (or short) a stock. Everybody’s happy right?
The uses of inflated value is a sticky-wicket if you are the loser
Not everybody. Naturally there are many “bad” short sellers who likely lost by shorting Amazon during it’s unrelenting rise since 2000. They are unlikely happy.
But also, and here’s the rub, there were whole industries crushed by the power that came with that “over-valued” stock price that seems, from looking at reams of data, to have been used to finance the selling of goods at substantial losses for “as long as it takes” to damage competitors.
Ultimately, for Amazon, creating a possibly dangerous monopoly (or monopsony, as it were) position with the potential for further damage to not just competition, and the overall marketplace, but to society as a whole.
Tesla is a whole other story, but a completely unique one
However, the situation is clearly not black and white. An alternate opinion could be held regarding the similar, yet very different, situation at Tesla (TSLA). Short interest throughout the rise? Absolutely. Overvaluation by traditional metrics, yup.
But in this case there is both a technological argument to be made, as well as a geopolitical / moral one, that the company’s wider mission: “Tesla’s mission is to accelerate the world’s transition to sustainable energy” is a more than validjustification for wanting to support the company, in any way possible, including through the purchase of it’s purportedly overvalued shares.
That kind of goodwill is the x-factor that is now being twisted into a justification for pumping GameStop (GME) into the stratosphere, beyond the kind of overvaluations that either Amazon or Tesla ever enjoyed (and that’s saying a lot!) while downplaying the “dump” part of the “pump & dump” scenario.
Of course here’s the tragic part; the dump phase always comes, and in reality, is the whole point. Next… ooopsy, while writing this the dump started with GME in the form of a drop from around $500 per share to $226.
For a sub-$20 stock, of course, that’s still extremely high and there will no doubt be gyrations in both directions before the final drop back to obscurity.
Twas ever thus, but still not nice
But the tragedy is in the idea, bandied about in the media and amplified in social media infinitely, that there are “Robin Hood” actors in this game (not the company but the dude in the forest in the movie).
In the end there may be a few that knew all along that “dump” was an integral and necessary part of pump & dump and I am sure there will be plenty of celebration of their “genius” exploits.
But the focus from any of us in the media should be at the tragedy of those that got lost in the hype and stupidity and chose to offer themselves up to the gods of GameStop, the market and Reddit’s r/wallstreetbets as cannon fodder:
”I was in my early teens during the ’08 crisis. I vividly remember the enormous repercussions that the reckless actions by those on Wall Street had in my personal life, and the lives of those close to me. I was fortunate – my parents were prudent and a little paranoid, and they had some food storage saved up. When that crisis hit our family, we were able to keep our little house, but we lived off of pancake mix, and powdered milk, and beans and rice for a year. Ever since then, my parents have kept a food storage, and they keep it updated and fresh.”
”I bought shares a few days ago. I dumped my savings into GME, paid my rent for this month with my credit card, and dumped my rent money into more GME (which for the people here at WSB, I would not recommend). And I’m holding. This is personal for me, and millions of others.”
”You can drop the price of GME after hours $120, I’m not going anywhere. You can pay for thousands of reddit bots, I’m holding. You can get every mainstream media outlet to demonize us, I don’t care. I’m making this as painful as I can for you”.
Promising content continues to go live each week in 2021
Netflix announced earlier this year, they will be rolling out some major content each week and will premier a brand new movie every week of 2021. With the upcoming price hike for another $1 for the standard account and $2 for the premium subscription, it seems like the streaming platform is giving viewers a bang for their buck..
New movie releases will have all the various genres covered! (action, sequels, dramas, musicals and more). Below are the movie releases for January, 29, 2021.
This British, period piece, based on real life events, casts Ralph Fiennes, Carey Mulligan and Lily James. The movies tells the story: on the eve of World World II, a British widow hires a self-taught archaeologist and embarks on the historically important excavation of Sutton Hoo in 1938. Digging up a mysterious formation on her land, leads to a staggering find.
Below Zero / January 29
A Spanish gritty action thriller movie (Bajocero) that has English voice-over features is set when a prisoner transfer van is attacked. The cop, Martin, who is in charge must fight those inside and outside while dealing with a silent foe: surviving the icy temperatures.
First a middle-finger toward tradition by skipping the Inauguration, then reactions to the entire debacle begin
So much to unpack – like an abused child we all stand in seeming disbelief as the maniac-in-chief finally recedes from view. Thanks to twitter for giving us a well deserved foretaste of a Trump-less future by deleting his account a week-plus ago.
In typical fashion Trump took a government jet to Mar-a-lago while making sure that Biden did not receive the customary loan of any government jet and had to fly private. Many will take solace in the uncertain and unlikely to be pleasant future for the accused insurrectionist, and still many more have celebrated, how else, with twitter memes specially designed for the occaision. Below we’ve gathered a few:
The systemic issues that led to a Trump presidency will not simply disappear once he's out of office. In fact Trump himself, the media's obsession with him, and the hold he has over his cultish supporters won't even disappear once he's out of office. That said, pic.twitter.com/yekw9mWe9E
The wheels are already spinning towards new challenges brought on by Trump’s actions
With so many challenges facing the US and, in many ways the entire world, even as the bizarre political drama recedes, it may be hard to find even a moment of neutral footing before the next crisis phase begins.
In fact it is in the most “positive” areas, endlessly touted as a triumph, where the first fireworks could be set off. Although many believe that the stock market is in a bubble phase, as extreme if not more extreme than either the “dot-com crash” of 2000 or the real estate collapse on 2008, this is truly the first time a bubble was inflated during a time when a triple threat – political, medical and climate emergencies, was in various phases of unfolding at the same time.
But it’s the forth “leg”, the lone bright spot as it has seems, that could carry a very big danger. With the pandemic still not showing any signs of abating, although there are vaccines being distributed, and the political madness of 2020 looking to begin to fade (at least partially), it is the possibility that the stock market bubble finding it’s “pin” that could trigger the next challenge to Biden and the country as a whole.
Perhaps the various stimulus funds being planned for dissemination can postpone any reckoning for at least a few months, but if that is not the case the situation could become extremely dangerous very quickly.
How the current stock market climate compares to 1999 and 2007
Looking back at the history of both of those bubble-crash cycles there are some notable differences. But there are far more similarities. All the various sentiment metrics and herding behaviors are present in forms, just as extreme, potentially more so.
The actual peak may be in the future, as SPAC entities are joining with traditional VCs to ride the avalanche of FED funds flooding into the money supply.
As was the case in 1999 there’s a momentum – a reflexivity as George Soros termed it, that begins as a smooth wave and eventually a tsunami of self-perpetuating belief in the absurd.
That moment could already have come and gone, it’s only in retrospect that the over-heated irrational exuberance becomes obvious to all. Perhaps the folly of WeWork will be the pastor child, or perhaps something that is just now happening.
Once the tsunami hits the shore, however, it will make landfall on an already devastated geography. After four years of corruption and devastating lock-downs (underplayed just enough to extend the misery) and so many challenges and messes to clean up, there will be a shock to the financial system that is unlike anything seen in 2000 and 2008.
A trillion plus dollar bail out after several (three?) have already been set in motion for other rescues and attempts to reinvigorate the economy, will be a hard and dangerous method to use, although it “worked” in the first two bubble-crash scenarios.
The big picture may look endless grim but the hope is in the change
Without a doubt the one thing that would like arise from such a nightmare scenario, similarly to the pandemic and the climate crisis, is that deep and irreversible change on a massive scale will be needed to begin a new phase of recovery.
Just as there’s a “bottoming out” that has to happen when a person finally confronts addictions and other self-destructive behaviors, humankind as a whole will be forced to make severe and lasting changes in order to overcome what will seem like an escalation of woe, at precisely the moment that a happy, sunny return to “normal” is anticipated
While all of this sounds dire, there are few today, who are paying attention, who would not say that massive change is needed. In politics, in business, in the economy, in healthcare and, of yes, in our response to existence level threats such as the climate crisis, we need, more than anything else to change.
Perhaps a downturn in a fantasy filled stock market bubble is just the pin prick that we need to wash away the negative trends of the past and begin from a new perspective that recognizes just how different our organizing principals need to be, as a species, in order to not only survive, but to do so in abundance.
Still not time to exhale, but the end-game is coming
For nearly five years many good people, people who never thought there was a single reason in hell that Trump should be president, or even dog catcher for that matter, have been annoyed and eventually terrorized by the orange menace.
Somehow, no matter how disgusting his behavior was, no matter how big and ugly his lies were, not mater how obviously racist or imbecilic he was, he still hung around , seemingly enjoying the suffering of any who didn’t worship him.
In the end it took a murderous mob, inspired and unleashed by his infantile fascist agenda, to finally cross a line that would bring a big enough backlash to squash his putrid plans.
In a sign of how bizarre the world is, and how it’s not likely to become less so anytime soon, it was Twitter and and the rest of the online communications infrastructure, that he love so much to abuse, that shut him down. Then the congress, taking up the momentum of a Trump-tweet free atmosphere for the first time in 5 years, and give him a going away prize: a second impeachment that might eventually carry a conviction and lifetime ban from politics.
Now comes at the last gasp of his wacko “civil war” militia then it’s bye-bye Donny
Naturally the open questions regarding any finality are still many. Will he flee the country perhaps to a country without US extradition treaties? Will his stick around, mute and impotent looking for ways to continue stirring up trouble? Will his sicko-army continue to commit treasonous terrorist acts, up until the inauguration and beyond?
In the longer term, how many of the many, many crimes that he committed will be investigate, charged and even go to trial? How will the future for his most ardent supporters and sycophants look? Will one of them really become the “new” Trump for 2024?
It is perhaps one of the strangest side-effects of having lived through this strange traumatic time ( I am speaking about politics, not pandemics) that the idea that Trump and his insane followers could just fade away quietly in nearly inconceivable. The idea that anything resembling “normal” could ever happen again is not a thought that seems even remotely plausible.
It’s like our minds are careening between the horror and fear of more death and destruction and a vague uneasiness of the unknown and unfamiliar feeling of… silence, with the orange ogre of idiocy no longer bombarding us with his self-serving bile.
Suffice it to say for the moment: He deserved it and it’s about time. The fact that his account was re-activated after a short pause was a strange choice by the platform. At least they made the right one in the end. Here’s the official tweet
Below the full text from the official Twitter bog explaining, in detail the action taken and why:
After close review of recent Tweets from the @realDonaldTrump account and the context around them — specifically how they are being received and interpreted on and off Twitter — we have permanently suspended the account due to the risk of further incitement of violence.
In the context of horrific events this week, we made it clear on Wednesday that additional violations of the Twitter Rules would potentially result in this very course of action. Our public interest framework exists to enable the public to hear from elected officials and world leaders directly. It is built on a principle that the people have a right to hold power to account in the open.
However, we made it clear going back years that these accounts are not above our rules entirely and cannot use Twitter to incite violence, among other things. We will continue to be transparent around our policies and their enforcement.
The below is a comprehensive analysis of our policy enforcement approach in this case.
Overview
On January 8, 2021, President Donald J. Trump tweeted:
“The 75,000,000 great American Patriots who voted for me, AMERICA FIRST, and MAKE AMERICA GREAT AGAIN, will have a GIANT VOICE long into the future. They will not be disrespected or treated unfairly in any way, shape or form!!!”
Shortly thereafter, the President tweeted:
“To all of those who have asked, I will not be going to the Inauguration on January 20th.”
Due to the ongoing tensions in the United States, and an uptick in the global conversation in regards to the people who violently stormed the Capitol on January 6, 2021, these two Tweets must be read in the context of broader events in the country and the ways in which the President’s statements can be mobilized by different audiences, including to incite violence, as well as in the context of the pattern of behavior from this account in recent weeks. After assessing the language in these Tweets against our Glorification of Violence policy, we have determined that these Tweets are in violation of the Glorification of Violence Policy and the user @realDonaldTrump should be immediately permanently suspended from the service.
Assessment
We assessed the two Tweets referenced above under our Glorification of Violence policy, which aims to prevent the glorification of violence that could inspire others to replicate violent acts and determined that they were highly likely to encourage and inspire people to replicate the criminal acts that took place at the U.S. Capitol on January 6, 2021.
This determination is based on a number of factors, including:
President Trump’s statement that he will not be attending the Inauguration is being received by a number of his supporters as further confirmation that the election was not legitimate and is seen as him disavowing his previous claim made via two Tweets (1, 2) by his Deputy Chief of Staff, Dan Scavino, that there would be an “orderly transition” on January 20th.
The second Tweet may also serve as encouragement to those potentially considering violent acts that the Inauguration would be a “safe” target, as he will not be attending.
The use of the words “American Patriots” to describe some of his supporters is also being interpreted as support for those committing violent acts at the US Capitol.
The mention of his supporters having a “GIANT VOICE long into the future” and that “They will not be disrespected or treated unfairly in any way, shape or form!!!” is being interpreted as further indication that President Trump does not plan to facilitate an “orderly transition” and instead that he plans to continue to support, empower, and shield those who believe he won the election.
Plans for future armed protests have already begun proliferating on and off-Twitter, including a proposed secondary attack on the US Capitol and state capitol buildings on January 17, 2021.
As such, our determination is that the two Tweets above are likely to inspire others to replicate the violent acts that took place on January 6, 2021, and that there are multiple indicators that they are being received and understood as encouragement to do so.
Following leaks and rumors, a more definitive statement from Hyundai
In December 2020, a Reuters story cited sources with knowledge of the project to confirm the existence of the long rumored “Project Titan” otherwise known as the “Apple Car”. Now, based on a statement from a Hyundai spokesperson, “AppleCar” is moving forward in the form of discussions with potential manufacturing partners.
Hyundai also confirmed to CNBC that discussions with Apple has begun, but added the caveat that they “understand that Apple is in discussion with a variety of global automakers, including Hyundai Motor. As the discussion is at its early stage, nothing has been decided.”
This hesitation could stem from the possibility that the initial statement may have been interpreted as hinting that an agreement could be imminent, sending Hyundai’s stock 23% higher. The surge in the price followed a report by the Korea Economic Daily which had implied that Apple suggested the tie-up and Hyundai Motor was reviewing terms.
Apple doing what Apple does
Even after the Reuters report in December, many were still skeptical, and today the time frames being discussed are very conservative mentioned a 7 year time horizon, even while the Reuters report mentioned at least the possibility, however remote, that 2024 could see an actual release onto the consumer market.
It is historically established that Apple often enters established markets for specific products and, in may cases, makes a ultra high quality, uniquely “Apple” version. EVs are now firmly established as the future of individual sustainable transport, but with Tesla having set the quality and popularity bar as high as it has, Apple will have a challenge ahead of it to produce a likely self-driving fully realized electric vehicle to match the state of the art in 2024 and beyond.
At CES 2020 Hyundai unveiled new technologies they already have in development, such as EVs, driverless and even flying cars.
The fact that Tesla founder Elon Musk is now the richest man in the world, after removing that title from Amazon founder Jeff Bezos, is not a factor in the “race” to build the best software and hardware for the future of EVs, but is an added dramatic fact that serves as a backdrop to the intrigue.
And hey, wow, imaging having a variety of non-polluting, sustainable energy vehicles to choose from by the worlds top manufacturers and with Apple and Tesla battling it out at the high end to provide the best and most desirable.
Bezos knocked from #1 slot that he has held since 2017
According to Bloomberg, Elon Musk, CEO of Tesla and SpaceX just passed up Jeff Bezos as the world’s richest person. While this, in and of itself is a fact that many will likely fetishize, the real story here is why and how.
There could not, IMHO, be two people more diametrically opposed in terms of motivation, inspiration and method. Both obscenely rich now? Of course. In each case because of stock holdings in companies they founded? Right again.
After that it is all a study in contrasts and contradictions. For example, as recently as Christmas eve 20o8 Elon Musk was nearly bankrupt and was on the verge of losing both SpaceX and Tesla. Later as recently as 2019, Tesla was in a deep financial hole.
Was this a case of bad management? Apparently not. What it was related to was the prime difference between Bezos and Musk. Musk has always only had one mission. Was it having the world’s most dominant eCommerce company? (or any other kind). One that would destroy entire business categories and be called the “grim reaper” due to it’s destruction of markets and competitors?
No – Musk has always wanted to save the world from itself. Tesla’s stated official mission is:
Tesla’s mission is to accelerate the world’s transition to sustainable energy. … Teslabelieves the faster the world stops relying on fossil fuels and moves towards a zero-emission future, the better.
Tesla / Elon Musk
Perhaps the cynical would say this is just some kind of veil hiding a capitalist and monopolist hunger a la Bezos. But they’d be wrong. Musk has openly stated that he is willing to share various proprietary technical information with his competitors if it would help the world’s transition to sustainable energy succeed faster. Would Bezos give away Amazon’s secrets. Take a guess.
Another interesting tidbit – Both SpaceX and Tesla have publicly disavowed all copyright claims to their photos, videos or other marketing assets. They also do zero paid advertising. This is brilliant and has made them money in the end, but more importantly it is additional proof that it is the success of the mission, a mission that ultimately benefits all humanity more than any singe individual, that is paramount in his thinking.
Though Musk may not realize it, he and Steve Jobs are kindred spirits
The only other highly successful tech visionary that had this kind of focus on the real success, which can by definition only ever be success for all, if Steve Jobs. With so much misinformation and focus on meaningless stats, like whose stock is worth the most paper dollars (printed at will by the Fed) at any given moment, it is often misunderstood that the mission and the sincerity and effectiveness of the mission that will always matter in the end.
Probably the greatest gift Bezos ever has or ever will give to humanity was via his divorce. Any other “charitable” act he will ever commit will be, first and foremost, have the goal of improving his image and stroking his massive ego.
Therein lies the difference.
Early Thursday Tesla shares (TSLA) rose by 6%, and further lifting the CEO’s stock holdings and options by $10 billion, resulting in the net worth of approximately $191 billion.
Musk edged past the Amazon founder who is currently has the net worth of around $187 billion.
Musk, who pinned the following past tweet from 2018 explained his intentions and how he will use money from his success, “You should ask why I would want money. The reason is not what you think. Very little time for recreation. Don’t have vacation homes or yachts or anything like that.”
About half my money is intended to help problems on Earth & half to help establish a self-sustaining city on Mars to ensure continuation of life (of all species) in case Earth gets hit by a meteor like the dinosaurs or WW3 happens & we destroy ourselves
The day after it would have helped, better late than never
After more than four years of tyrannical abuse of social media and the eCommerce hawking of propaganda trinkets, Facebook, Instagram, Twitter and even Shopify have put blocks on Trump accounts.
Particularly in the case of Facebook, the timing is somewhat unsatisfying. Facebook, as many can recall, has supported Trump “fake” and misleading advertising since before the 2016 election. Those ads were, according to many, a very big reason that he was elected at all. This was a huge mistake of history, one might say, and the mistake started at Facebook.
Naturally, being “arbiter of the truth” or not, is an entirely different issue, because it is the warlord-like raking-in of millions upon millions, if not billions of dollars, by blindly allowing lies, hate, racism and worse be propagated as political advertising, that has been the clear “wrong” that Facebook allowed and profited from.
So, it’s ,at least somehow, a belated comfort that, at least for the moment, ads fomenting violent overthrow of the imaginary “deep state” or sales of MAGA hats that finance said ads, are no longer running in tandem like some kind of dystopian fascist nightmare machine.
At least the media, much of the government and now a lot of big tech and social media are united in one simple thought: Trump is simply a criminal and aiding him in any way make you and your company one also. So, yes, shut it down, now.
Shopify
Shopify, the multinational e-commerce company that hosted shops that relate to Trump’s campaign products as well as Trump’s personal brand have both been taken down. Those who attempt to go to TrumpStore.com or shop.donaldjtrump.com, known for selling the official Trump MAGA merchandise will be meet with error messages as the sites were taken down Thursday morning.
A spokesperson for the company released the following statement following the terminated stores affiliated with Trump:
“Shopify does not tolerate actions that incite violence. Based on recent events, we have determined that the actions by President Donald J. Trump violate our Acceptable Use Policy, which prohibits promotion or support of organizations, platforms or people that threaten or condone violence to further a cause,”
Twitter also added that “Future violations of the Twitter Rules, including our Civic Integrity or Violent Threats policies, will result in permanent suspension of the @realDonaldTrump account.”
Trump has since deleted the three tweets that led to the temporary suspension of his account. Trump’s account will remain locked for an additional 12 hours after the deletion. It is not clear the exact timing of when the tweets were deleted and when Trump will be allowed to post again, he has yet to tweet. According to CNBC, the lock could be removed around 3 p.m. ET.
Facebook
Trump’s official Facebook and Instagram accounts have both been locked due to policy violations. Facebook Newsroom released a statement via Twitter starting on January 6 at 8:36 p.m. ET, stating that Trump’s account would be blocked for 24 hours. On January 7th, they updated its statement to explain the extent of the block would be “indefinitely and for at least the next two weeks until the peaceful transition of power is complete.”
CEO and founder, Mark Zuckerberg also released his own statement on the matter:
“The shocking events of the last 24 hours clearly demonstrate that President Donald Trump intends to use his remaining time in office to undermine the peaceful and lawful transition of power to his elected successor, Joe Biden.
His decision to use his platform to condone rather than condemn the actions of his supporters at the Capitol building has rightly disturbed people in the US and around the world. We removed these statements yesterday because we judged that their effect — and likely their intent — would be to provoke further violence.
Following the certification of the election results by Congress, the priority for the whole country must now be to ensure that the remaining 13 days and the days after inauguration pass peacefully and in accordance with established democratic norms.
Over the last several years, we have allowed President Trump to use our platform consistent with our own rules, at times removing content or labeling his posts when they violate our policies. We did this because we believe that the public has a right to the broadest possible access to political speech, even controversial speech. But the current context is now fundamentally different, involving use of our platform to incite violent insurrection against a democratically elected government.
We believe the risks of allowing the President to continue to use our service during this period are simply too great. Therefore, we are extending the block we have placed on his Facebook and Instagram accounts indefinitely and for at least the next two weeks until the peaceful transition of power is complete.”
We believe the risks of allowing President Trump to continue to use our service during this period are simply too great, so we are extending the block we have placed on his Facebook and Instagram accounts indefinitely and for at least the next two weeks. pic.twitter.com/JkyGOTYB1Z
Apple had a big year – but how big will first become apparent in 2021…
By now, it is not unexpected for the latest iteration of the iPhone, iPhone 12 in this case, to do well and even best the competition across the board in any given year. While it is nearly an automatic ritual that doubt will be cast, and the demise or at least diminution of the iPhone and Apple are predicted, nearly every year the opposite in the case.
This year was different. There was plenty of doubt – but the surprise announcement of the M series of chips for mac and the even more surprising benchmarks and performance improvements pretty much obliterated the doubters.
Not only that, but a layer beneath that headline news was a secondary layer of innovation and areas where long planned improvements came to fruition.
The first steps into a massive multi-year system software transition, one that will eventually merge the mobile operating systems of the iPhone, iPad, Apple watch, etc with the mac, moved seemingly ahead of schedule, with the huge improvements in iOS 14 and macOS Big Sur.
And all the various services such as Apple TV+ and many other offerings made huge strides as well.
As a matter of fact, a list of all the upgrades, added features and new services and products would be so long and varied that the transcription is beyond the reach of a simple article such as this one.
However, that alone is not where some of the biggest changes and most surprising evolutions have occurred. The real “action” so to speak is in the integration and unexpected by-products of the merging and deepening of all the new features and settings.
Take for example the macs that feature the M1 chip. It is not the chip itself, not even the new operating system that has the most impact on the performance or usability of the machines.
It is the integrated functionality of the various elements of the chips – Apple M1, the first ARM-based system on a chip – composed of several different components including the CPU, GPU, unified memory architecture (RAM), Neural Engine, Secure Enclave, SSD controller, image signal processor, encode/decode engines, Thunderbolt controller with USB 4 support, all of which are made more powerful by the continuously upgraded software system.
This – a kind of invisible interactive and synergistic ecosystem – not only has at it’s heart the “whole widget” philosophy legacy of Steve Jobs, but also a new and insanely futuristic definition of “whole” which now includes these proprietary Apple chips (CPU, GPU, NE), plus A.I. / machine learning and system core operating as one continuously evolving and reinforcing “unit”.
The future is already here, we just don’t see it like fish, maybe, never heard of a thing called water…
This new concept of the constantly increasing potential advancement in efficiency and power is not only the new standard basis for what constitutes computing technology at Apple, but will emerge as the ultimate re-definition of what “power” in computing means at all.
Similar to the internet – where the evolution and development is at stone age levels compared to where it will (and must) eventually reach in decades and even centuries, computing (or “personal” computing as it was dubbed in the last century) is also in very early and very primitive stages of evolution and this next step represents an early beginning, not a destination or accomplishment of a goal.
Even Apple has stated that the initial transition of a unified operating system shared by mobile and desktop / laptop devices, iOS / macOS, will be years still in development and implementation.
Meaning, in 2024 we may see the first real life trails and dissemination of a new kind of computing system, and, more importantly, computer assisted communicating, made possible by the complete integration of these hardware, software and A.I. advances.
Just in time, because the threats of global warming, pandemics, political upheaval and economic disaster need, more than anything, enhanced learning and communication that can be aided, we must fervently hope, by improved digital tools. A better bicycle, so to speak.
Fortunately, Apple has our back on this. And in 2021 more, much more will be revealed, if 2020 was any hint, of an exciting future not just for technology, but for the creative uses of it for the betterment of humankind.
Once more defying logic Trump insists the Democrats are right for wanting bigger checks
In yet another bizarre missive, this time via video, the long fought battle over the 2nd coronavirus relief package is suddenly sent into a chaotic last minute re-do. Trump called the $600 check amount and other aspects of the current bill a “disgrace, at once criticizing the paltry sum and also stating:
“It’s called the Covid relief bill, but it has almost nothing to do with Covid, Congress found plenty of money for foreign countries, lobbyists and special interests while sending the bare minimum to the American people.”
Just how odd this announcement today is underscored by the fact that House Speaker Nancy Pelosi, who along with Democrats had, for months, pushed similarly sized checks, reacted positively to the announcement:
“Republicans repeatedly refused to say what amount the President wanted for direct checks. At last, the President has agreed to $2,000 — Democrats are ready to bring this to the Floor this week by unanimous consent. Let’s do it!” she said in a tweet.
Republicans repeatedly refused to say what amount the President wanted for direct checks. At last, the President has agreed to $2,000 — Democrats are ready to bring this to the Floor this week by unanimous consent. Let’s do it! https://t.co/Th4sztrpLV
Some have speculated, on twitter and elsewhere, that this was a kind of revenge move by Trump against Senate Majority Leader Mitch McConnell for having the temerity to tell the truth and acknowledge that Joe Biden is the president-elect. After tweets bashing McConnell, this is an escalation of the same tantrum by Trump.
Although the bill was passed by a large bi-partisan majority, it’s massive size — weighing in at 5,593 pages — as well as the rush with which it was passed engendered critics on the left and the right, even as it was passed within less time that many in congress could possible have read it.
Representative Alexandria Ocasio-Cortez, Democrat of New York, likened the rushed vote on so many unread measures to “hostage-taking,” while extreme right wing Senator Ted Cruz, said that it was “ABSURD.”
This is why Congress needs time to actually read this package before voting on it.
Members of Congress have not read this bill. It’s over 5000 pages, arrived at 2pm today, and we are told to expect a vote on it in 2 hours.
As has been the case many times in the past, Trump may suddenly sing a different tune at any moment, or the Republican side might defy Trump and refuse to amend the bill.
Stay tuned for more breaking news, as it will no doubt be coming down the pike any minute now…
The battle is getting very public and will get louder and nastier
The full page newspaper ads taken out by Facebook, where they proclaim themselves the champion of small business and attack Apple directly are interesting and curious on many levels.
It will take a series of articles to attempt to untangle the confusions and endless, often intentionally fostered, misconceptions that will most certainly arise in this battle of titans.
At the heart of the matter is, however, the largest misconception humanly possible, the idea that these monstrously huge companies, and how they operate, are anything at all related to “normal”.
The fact that all of us have seen the role of the internet in general increase over the last 20+ years, and have therefore had to deal with, and in some cases, go through and cooperate with these behemoths, may be the status quo that has developed, particularly in the last decade, but it is without precedent on many levels.
The size, power and influence is beyond comprehension and this clouds every issue
Before even beginning to contrast one giant against another one must first confront the very existence of entities of this magnitude. It’s fair to say that never in history has such a tiny group of companies, and by extension, individual humans, controlled so much of the economy and so much of that impacts the society and our experiences.
This chart is not current. If it were the disparity would be far larger and even more astounding:
This information, for a human, is so out of whack that you would have to stare at this chart for days before it could even sink in. And, as it it only a chart of size, built on company market capitalization, the power and influence, which represents and ever larger disparity, is not represented.
The dominance overall is so extreme as to be humanly incomprehensible. And by all measures the disparity between the big tech firms and “everybody else” grows literally by the second.
If you are afraid of A.I., you’re too late, the world is already controlled by computers and software via these companies
Facebook is probably the best example to illustrate the problem of market power and dominance on a level that is so far beyond traditional methods of measurement that even government antitrust investigations are barely able to begin to access the potential violations.
“The questions below might seem odd, or even absurd. But what is really absurd is that they are, for the most part, never asked. “
The questions below might seem odd, or even absurd. But what is really absurd is that they are, for the most part, never asked. Since the iPhone and later Samsung / Android revolutionized information and photo sharing, it has been accepted as a simple reality that Facebook controls nearly all the “social networking” that is done with that data. Why?
What is Facebook? Most would say they are a “social media company” but that can mean anything you want it to mean. They claim they are in the business of “connecting people” yet they derive massive wealth and profit from advertising, and “monetizing” their network, the largest network of “social users”, by far.
And if they are interested in connecting people, then what do those people own of the network that they themselves comprise? That would be nothing.
What say do they have in how they are used to “monetize” the network that they literally “are”? None.
What trust do they have to surrender to the company, which includes Facebook, Instagram, WhatsApp and more (all controlled 100% by a guy named Zuckerberg)? 100%
“What ‘say’ do they have in how they are used to “monetize” the network that they literally ‘are’? None.”
— D.L.
Who authorized Facebook (or Google) to amass vast databanks of private personal information from a huge chunk of the world’s population, and use that data to amass fortunes of unheard of size using secret proprietary algorithms that they have zero requirement to disclose? Well, technically, users, inadvertently and without understanding, did. Otherwise: No-one.
Well, technically all of this was “allowed” via Section 230 of the Communications Decency Act, passed in 1996, and states that an “interactive computer service” can’t be treated as the publisher or speaker of third-party content. This, effectively, protects websites and “platforms” such as Facebook, from lawsuits in the case that a “user” posts something illegal. There are exceptions, for example, for copyright violations, sex work-related material, and violations of federal criminal law.
This fact does not remove responsibility for building a system that gives massive financial benefit to Facebook, Google, etc and very little, in reality, by way of return or influence to the “user”.
It’s as if a man figured out a way to use mental-telepathy to rob banks and could never be caught or prosecuted due to the fact that no one had ever robbed a bank that way before. And then he claimed that he should be allowed to continue doing it forever, with impunity.
What would Facebook and Zuckerberg have if the billions of “users” stopped using its network? Nothing.
How little sense this makes just goes on and on. There could be 100s of pages of similar questions and answers and the end result would be a slightly better understanding of the absurdity of the very existence of such a “service” or company or whatever this is.
Why absurd? In a nutshell, Facebook controls private networks that exist “inside” a more public network called, for lack of a better term, “the internet”. And, because of what could be termed a mistake of history they represent a dominant, near monopoly, in the “space” which in this case is currently called “social networks”.
The dominance and the definition of monopoly can be argued endlessly (and likely will be in the coming antitrust cases) but, in the end, the numbers don’t lie. Only one person benefits, in direct payments of trillions of dollars, from a near monopoly in social networks. The billions of people, the very people who are the network, do not.
A bleak analysis, perhaps, but is there any light at the end of this tunnel?
The current increase in antitrust cases, both in the US and Europe, is a canary-in the-coal-mine moment and the wars over all the arising issues has begun and will go on for years.
The fact that Facebook is heavily advertising that they are the “good guy” while Amazon and Google do the same, is both ridiculous and sad, since “good guys” don’t have to buy ads to draw attention to that fact.
And the fact that these companies have already started, both in word and deed, to attack each other directly, is an indication of just how serious and all pervasive these mega-wars will be. This is just the beginning.
While none of the companies depicted on the chart above can be said to be without blame for the world of injustice and malfunction that is the internet, and by extension, our world, there is one company that stands apart from the others in so many ways and for so many reasons that they, amazingly, represent some hope within the madness.
And, not coincidently, they are the one that is already being attacked, in print and software, as the wars begin: Apple.
How Apple actually represents hope to clean up the tech universe that, arguably, they are most responsible for having created, is likely a hard sell with those that want to lump all these huge companies together. Because, after all, they are all huge.
However, nothing could be further from the truth. More on this and other burning questions in our next episode, so stay tuned.
Series of Silicon Valley cautionary tale in development
Jared Leto could be returning to a TV screen near you. It has been well over 20 years since the show “My So-Called Life” that the actor has starred in any small screen episodic. This news come with reports that writer and producer Lee Eisenberg and studio exec Drew Crevello are developing a series for Apple TV+ based on the infamous workspace rental startup company ‘WeWork’.
The series concept is inspired by the 6 part podcast called “WeCrashed: The Rise and Fall of WeWork”. If Oscar winner Leto signs on to the TV show, he would be cast as the former boss of WeWork, Adam Neumann.
Neumann, who served as CEO for the company from 2010 to 2019 and later resigned. According to reports at the time, his “eccentric behavior” was one of the main reasons he was pressured to step down.
Leto, who is known for choosing equally eccentric and challenging characters, including his work in “Suicide Squad”, “American Psycho” and “Dallas Buyers Club”, could likely more than fit the bill to play Neumann.
Prior to WeWork’s collapse, it had an estimated value of $47 billion. The series has been in development since February with Leto currently in negotiations, with additional information to come in the future.
After the Electoral College affirmed what the majority of us already knew, that President-elect Joe Biden won over President Trump, with an electoral count of 306 vs 232, coincidentally the same margin as Trump had and called a “landslide” in 2016, perhaps a sigh of relief can finally happen. Or even a little laugh. What better way to bid farewell to Trump than with a viral Twitter video.
Paul Lee Teeks shared a hilarious video of Trump being rolled out of the White House while he rants and raves about the “rigged” and “stolen” election. Trump blabs and continues to flap his gums all the way until the end when he is wheeled and lifted up into a moving truck.
The original video comes from creator of the “The President Show” Tony Atamanuik from the Comedy Central network. Teeks recreated the video placing the head of Trump (versus a caricature in the original) with dubbed audio, creating mass interest within the social media world. The hashtags #LoserOfTheCentury and #TrumpIsALaughingStock trended as a result.
