Author: Aron Derek

With a blend of economics and tech expertise, Aron delves into business news with a keen eye for innovation. Specializing in cryptocurrency trends and emerging technologies, his insights empower readers to navigate the dynamic realms of finance and technology.
Tesla Revs Up Hiring Again After Brutal Layoffs
Industry Insights

Tesla Revs Up Hiring Again After Brutal Layoffs

Tesla appears to be ramping up hiring again, nearly two months after Elon Musk initiated widespread layoffs. The electric vehicle giant has begun advertising a host of new roles, signaling a shift from the drastic cuts it made earlier this year. Back in April, Tesla made headlines by slashing 10% of its global workforce. This massive reduction saw the number of job listings on Tesla’s website for North America plummet from 3,400 to just 3. In the weeks that followed, even more workers were let go. However, late May brought a glimmer of hope as Tesla posted over a dozen jobs in its autopilot division. Now, Tesla’s hiring efforts appear to be expanding further. As of this month, the company has over 60 positions advertised across the US and Canada on its website. These job listings, w...
Elon Musk’s Next Big Bet: A Supercomputer to Surpass Meta’s AI Cluster
Innovation & Technology

Elon Musk’s Next Big Bet: A Supercomputer to Surpass Meta’s AI Cluster

Elon Musk is once again making headlines with his ambitious plans to build a supercomputer, which he aims to have operational by fall 2025. According to a report by The Information, this "gigafactory of compute" will leverage Nvidia GPUs and is intended to outdo Meta's extensive chip cluster. Musk’s AI startup, xAI, is at the forefront of this venture. On Sunday, the company announced it had raised an impressive $6 billion in a new funding round, demonstrating that the excitement surrounding AI is far from waning. As per The Wall Street Journal, notably, Musk himself has invested $750 million into xAI, while his social media platform, X, has contributed computing power valued at $250 million. The driving force behind these efforts is Musk’s desire to bolster xAI’s operations. Despit...
Tesla’s Latest Offers for China Car Owners: Free Car Use, Factory Tours, and More!
Innovation & Technology

Tesla’s Latest Offers for China Car Owners: Free Car Use, Factory Tours, and More!

In a bid to attract new customers and boost its electric vehicle adoption, Tesla has rolled out an enticing array of offers for new car owners in China. According to the official Tesla Weibo account, these promotions are designed to make switching to electric vehicles both exciting and accessible. Six Months of Free Driving One of the standout offers is the chance to drive a Tesla vehicle for free for six months. This is part of a broader push to demonstrate the benefits and joys of owning an electric car without any financial commitment upfront. Exclusive Factory Tours Tesla is also offering new owners an exclusive tour of their Shanghai Gigafactory. This two-day, one-night experience allows customers to see where their cars are made, adding a personal touch to the ownership ...
Chipmakers ASML and TSMC: Ready to Activate ‘Kill Switch’ Amid Taiwan Tensions
Innovation & Technology

Chipmakers ASML and TSMC: Ready to Activate ‘Kill Switch’ Amid Taiwan Tensions

In a dramatic move that underscores the escalating geopolitical tensions between China and Taiwan, two of the world's leading chipmakers, ASML and TSMC, have reportedly implemented a remote "kill switch" for their advanced chipmaking machines. This development, reported by Bloomberg, highlights the growing concerns over a potential Chinese invasion of Taiwan and its implications for the global economy. ASML and TSMC's Strategic Response ASML, a Netherlands-based company and Europe's top tech firm by market value, supplies cutting-edge chipmaking equipment to various semiconductor companies, including Taiwan's TSMC. TSMC is estimated to produce around 90% of the world's most advanced processor chips, making it a pivotal player in the global tech industry. The introduction of the "...
Shocking $25 Million Scam: Deepfake Scammers Target Major Engineering Firm
Innovation & Technology

Shocking $25 Million Scam: Deepfake Scammers Target Major Engineering Firm

In a shocking scam, deepfake technology was used to trick an employee at Arup, a major engineering firm, into handing over $25 million. This shows how advanced AI scams are becoming more common and dangerous. The scam happened in January. An employee in Arup's Hong Kong office thought they were on a video call with the company's Chief Financial Officer (CFO) and other staff members. However, the video call was fake. Hong Kong public broadcaster RTHK reported that the scammers used AI to create realistic video and audio of the CFO and other employees. During the call, the employee was told to transfer HK$200 million (about $25.6 million) to five different bank accounts. The employee did this over 15 transactions. It took about a week before the employee realized it was a scam when th...
TikTok’s New 60-Minute Video Test: A Game-Changer for Content Creators?
Innovation & Technology

TikTok’s New 60-Minute Video Test: A Game-Changer for Content Creators?

TikTok is testing a groundbreaking feature that could revolutionize the social media landscape: allowing some users to upload videos up to 60 minutes long. This bold move challenges YouTube's dominance in the realm of long-form content and could potentially shift viewership away from traditional streaming services. A Gradual Expansion TikTok, which initially allowed only 60-second videos, has been steadily increasing its video length limits. Recently, the platform extended the limit to 10 minutes for all users and 15 minutes for some creators. Now, select users are being given the option to upload videos up to 60 minutes long. This pilot program was first publicly spotted by tech newsletter writer Matt Navarra and later confirmed by TikTok to TechCrunch. Post by @mattnavarr...
Nvidia’s Stock Surge Drives CEO Jensen Huang’s Compensation to $34.2 Million
Financial Analysis

Nvidia’s Stock Surge Drives CEO Jensen Huang’s Compensation to $34.2 Million

Nvidia CEO Jensen Huang received a significant boost in his compensation package in fiscal 2024, driven by the surging demand for the company’s AI chips and an impressive stock market performance. Huang, who co-founded Nvidia, saw his total compensation rise by 60% from the previous year, reaching $34.2 million, according to the company's annual proxy filing. Huang’s substantial pay package consisted of several components: $26.7 million in stock awards: This sizable portion of his compensation reflects the significant rise in Nvidia’s stock price, which has tripled over the past year. $4 million in cash bonuses: Rewarding Huang for Nvidia’s robust performance and market dominance. $2.5 million for other expenses: This includes costs such as residential security and a car and ...
China Pushes Tech Giants to Buy Local AI Chips Instead of Nvidia’s
Innovation & Technology

China Pushes Tech Giants to Buy Local AI Chips Instead of Nvidia’s

The Chinese government is, in reality, encouraging its tech companies to purchase more locally-made AI chips, according to The Information. Major companies, such as Alibaba, Baidu, ByteDance, and Tencent, are cutting their spending on foreign-made chips in favor of local manufacturers, including Nvidia. China's new directive will be a big blow to Nvidia, as it is a huge market for the company. In recent months, the company has developed certain specialized products for China, among which the three new GPUs are named H20, L20, and L2. The Reuters news agency quoted two sources familiar with the matter, saying that the company was making chips to those products to comply with existing US sanctions. For the fiscal year 2023, China's contribution for the chipmaker data center chip reven...
Quinn Emanuel Raises the Bar: New Pay Hike £180,000 for Junior Lawyers in London
Financial Analysis

Quinn Emanuel Raises the Bar: New Pay Hike £180,000 for Junior Lawyers in London

In the latest move to make it an even more attractive employer for the brightest young lawyers in London, top US litigation practice Quinn Emanuel has announced a huge increase in pay for its junior lawyers – with a new base salary of £180,000, up from its current base of around £150,000. According to Law.com this is an 18% increase. Quinn Emanuel is considered to be the "#1 Most Feared Law Firm in the World," with its premier client representation, representing high-profile clients like Google, FIFA, Elon Musk, and FTX. The increment in salaries comes as the firm tries to retain its best and most promising talents in a rather aggressive talent market in London. Alex Gerbi, co-managing partner of Quinn Emanuel in London, said the pay rise was designed to "reward our outstanding lawyers...
Tesla’s Robotaxis Coming to China, Elon Musk Plans Big Move
Innovation & Technology

Tesla’s Robotaxis Coming to China, Elon Musk Plans Big Move

Tesla, the pioneering electric vehicle manufacturer, is poised to launch its autonomous taxi service, known as robotaxis, in China. According to a report from China Daily, a state-owned newspaper, Tesla CEO Elon Musk aims to integrate the company's cutting-edge Full Self-Driving (FSD) technology into China's taxi industry. Elon Musk's recent visit to China, where he met with Premier Li Qiang, underscores Tesla's commitment to the Chinese market. Despite facing challenges such as sluggish sales, as reported by Bloomberg, Tesla received initial approval from Chinese authorities to deploy its FSD technology in the country. In addition to this approval, China Daily's report indicates that the Chinese government is interested in Musk's proposal to incorporate Tesla's FSD technology into ...