Don’t Try To Fix Big Tech With Politics


topicsfuture

I don’t know the correct level of content moderation by Facebook, Twitter, Google, or Amazon. And neither do you.

Sometimes I can pinpoint what looks to me like an obvious misstep: Facebook’s decision to block a New York Post story about Hunter Biden’s laptop in the weeks before the 2020 presidential election, for instance, or Amazon’s refusal to carry a small number of books about trans issues without adequately explaining its decision. Tweets containing threats of violence left up indefinitely while mere tasteless jokes get swiftly removed.

But I also know deciding what and whom to allow on your platform is a hard problem. Scale is hard: I know I’m not seeing millions of pieces of spam eliminated, bots blocked, irrelevant content filtered, duplicates removed. Consistency is hard: I know sometimes what’s in my feed is the work of a robot doing a good job following bad directions, and sometimes it’s a human being doing a bad job following good directions. The application of Hanlon’s razor is almost certainly called for in many cases of perceived bias: “Never attribute to malice that which is adequately explained by stupidity.”

The difficulty of this task hasn’t stopped everyone from elected politicians to think-tankers to pundits from looking for ways to punish tech companies for doing it wrong. These folks disagree about what is broken in the status quo, but the calls to action are no less strident for all that.

For every person arguing against moderation on the grounds of ideological bias, there is someone else pushing for more aggressive moderation to control rampant hate speech or “disinformation”—which can mean everything from objectively false claims to arguments that some users consider subjectively offensive. There are those who find the profit-making aspect of the whole industry distasteful, and there are those who fret about the difficulties faced by would-be competitors due to the sheer size of the companies in question.

The push to crack down on Big Tech is both bipartisan and fiercely politically tribal—the worst of both worlds.

The proposed solutions are numerous, and nearly all involve aggressive government action: break up some or all Big Tech firms via antitrust, remove longstanding liability protections by rewriting Section 230 of the Communications Decency Act, treat social media platforms as public utilities or common carriers with all the constraints that entails, reinstate the Fairness Doctrine, and much more.

The fact that a firm is large is not evidence that it is a monopoly. And as Elizabeth Nolan Brown details in “The Bipartisan Antitrust Crusade Against Big Tech”, pushes to employ antitrust remedies against tech companies have a checkered history at best. They are too often expensive, time-consuming, and reactionary efforts that end up lagging behind market solutions while actively harming consumers.

There is one clear monopoly in this ecosystem, however: the state. Any legislative or regulatory restriction on Big Tech will not be a triumph of the oppressed over the powerful. It will be yet another instance of the already powerful wielding the state’s machinery to compel private companies to do what they want, likely at the expense of their market competitors or political enemies. Such reforms are far more likely to be censorship than to reduce censorship, in the strictest sense.

It has become fashionable on both the left and the right to argue that Big Tech is now more powerful than a government or perhaps indistinguishable from one. Here is a list of things governments sometimes do if they dislike what you say or how you say it: lock you up, take your property, take your children, send you to die in a war. Here is a list of things tech companies sometimes do: delete your account.

Twitter, Facebook, Amazon, and Google do play a huge role in many people’s lives. To be kicked off a popular platform can be deeply unpleasant and unnerving. But the notion that political interference will result in broader access to a better product is naive at best and dangerous at worst.

On platforms that do any moderation or curation at all—both functions that are necessary for a pleasant or even comprehensible user experience—there are going to be many thousands of borderline calls each day, by humans and robots alike. And those decisions get more plentiful and complex over time. That, in turn, generates more room for error, and more consumer demand for clarity.

It was human beings—not robots—who decided to bar then–President Donald Trump from Twitter and Facebook in the days following the January 6 riot at the U.S. Capitol. Months later, at press time, an elaborately convened Facebook Oversight Committee delivered a swift kick to the can by declaring that Trump’s suspension from the social media site was justified while also noting that an indefinite suspension is not consistent with the company’s term of service.

I see why the former president and his supporters are enraged. Facebook did a terrible job of communicating what it was willing to tolerate from its users. Still, it’s not a First Amendment violation. It’s not proof of a trust that needs busting. And it’s certainly not a sign that Facebook is now more powerful than a government.

Ousted from Facebook and Twitter, Trump has set up his own site. This is a perfectly reasonable response to being banned—a solution that is available to virtually every American with access to the internet. In fact, for all the bellyaching over the difficulty of challenging Big Tech incumbents, the video-sharing app TikTok has gone from zero users to over a billion in the last five years. The live audio app Clubhouse is growing rapidly, with 10 million weekly active users, despite being invite-only and less than a year old. Meanwhile, Facebook’s daily active users declined in the last two quarters. And it’s worth keeping in mind that only 10 percent of adults are daily users of Twitter, hardly a chokehold on American public discourse.

Every single one of these sites is entirely or primarily free to use. Yes, they make money, sometimes lots of it. But the people who are absolutely furious about the service they are receiving are, by any definition, getting much more than they paid for. The results of a laissez-faire regime on the internet have been remarkable, a flowering of innovation and bountiful consumer surplus.

The question of the correct level of content moderation by Facebook, Twitter, Google, Amazon, and their would-be rivals is not a question that needs to be answered in the sphere of politics. We do not need to agree on a single answer. Which is good, because we never will.

from Latest – Reason.com https://ift.tt/3fYch6f
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Are Tesla’s Sudden China Woes A Harbinger Of Things To Come?

Are Tesla’s Sudden China Woes A Harbinger Of Things To Come?

Authored by Fan Yu via The Epoch Times,

To see the impact China’s fickle market can do to a company’s value, look no further than Tesla.

On April 20, the Chinese Communist Party (CCP)’s media and regulators began a series of public rebukes against the California-based electric carmaker. The criticisms were broad, ranging from Tesla’s car safety, to data gathering practices, as well as customer service. 

In early June, technology website The Information reported that Tesla’s May China orders fell by nearly half compared to April, according to internal data. Orders fell from 18,000 in April to 9,800 in May, a reflection that Chinese consumers were negatively impacted by the uproar.

And all of this has erased $137 billion in market value as Tesla’s stock price declined 19.5 percent since April 21.

A Series of Unfortunate Events

Tesla has encountered issues all year in China. In February and March, the CCP banned Tesla from its military compounds and housing units on concerns that the company could collect information via the cameras attached to Tesla cars to facilitate spying on behalf of the United States.

In early April, Tesla’s communications and governmental affairs director in China announced that any data collected within China would be stored in China and will not be sent to the United States, in an effort to quell CCP security concerns. This came about after founder and CEO Elon Musk publicly declared that Tesla would not engage in spying. 

On April 20, CCP mouthpiece Xinhua published an article from the sidelines of the Shanghai Auto Show slamming the electric vehicle maker on the quality of its vehicles, citing consumer complaints.

On the same day, an official post on WeChat from the account of the powerful Commission for Political and Legal Affairs also drew attention to the Auto Show, when a woman climbed onto the roof of a Tesla vehicle to complain about her car’s faulty brakes. The video of the woman went viral on Chinese social media. While it’s unclear why the CCP organ which oversees the country’s police and court system would weigh in on electric cars, it was nonetheless a powerful rebuke of Tesla.

While Tesla China originally pushed back against this narrative, stating that the woman in question has been protesting against Tesla for some time, later during the same week the company issued a public apology and promised to better listen to customer complaints.

SpaceX owner and Tesla CEO Elon Musk speaks during a conversation with legendary game designer Todd Howard (not pictured) at the E3 gaming convention in Los Angeles, Calif., on June 13, 2019. (Mike Blake/Reuters)

A Sudden About Face

The CCP’s pushback against Tesla has been sudden and drastic, directly impacting the carmaker’s sales slump in May.

By all accounts, Tesla had a blowout first quarter of 2021. The company reported a 74 percent increase in sales year over year, and its non-GAAP net income eclipsed $1 billion for the first time in its history. Its gigafactory in Shanghai was humming, which elicited speculation that Musk was ready to build a second assembly plant in the world’s fastest-growing car market. Tesla’s stock price was sky high, while Musk’s rock star status was beyond reproach.

Merely three months later? Analysts are now concerned. Credit Suisse’s Dan Levy wrote on June 2 that in May Tesla’s had its lowest monthly sales in a year. “The trajectory is unclear—while some expect the concern to be temporary, we’ve also heard the view that it may take time for Tesla volume to recover,” Levy wrote in a note to clients, while also raising the possibility that Tesla can export to Europe the extra cars it makes in China. 

Its China issues are on top of existing business challenges facing Tesla: microchip shortages, competition from legacy automakers, falling bitcoin prices, and the specter of higher corporate tax rates.

This sudden turn of events in China is surprising. Tesla was in as ideal a position as any foreign company could hope for. Until suddenly, it wasn’t.

The company had gone all-in in China. Besides the company’s gigafactory, Tesla China has become a real hub for the company, with its own R&D plant and local technical staff. 

Morgan Stanley analysts recently noted that Tesla posted job requisitions in Beijing and Shanghai for engineers with data center expertise, suggesting Tesla’s seriousness in keeping Chinese data local. Morgan Stanley analyst Adam Jonas wrote on May 27 that Tesla could potentially create “a ‘Tesla China’ entity that could largely be operated autonomously and independently from the U.S. parent.”

Musk, for his part, had been saying all the right things in praising Beijing and China’s future as the world’s leading electric vehicle market. In a January article, Bloomberg even declared “it’s fair to wonder if Musk has become [Chinese leader] Xi’s favorite foreign capitalist.”

It remains to be seen how Tesla plans to turn around its public opinion in China. The China market is Tesla’s second-largest revenue contributor after the United States. If the CCP—and Chinese consumers—continue to shun Tesla, its stock price will decline further. 

One thing is certain: Even the best-laid plans in China could go awry.

Tyler Durden
Mon, 06/07/2021 – 06:30

via ZeroHedge News https://ift.tt/2T9xEc4 Tyler Durden

Don’t Try To Fix Big Tech With Politics


topicsfuture

I don’t know the correct level of content moderation by Facebook, Twitter, Google, or Amazon. And neither do you.

Sometimes I can pinpoint what looks to me like an obvious misstep: Facebook’s decision to block a New York Post story about Hunter Biden’s laptop in the weeks before the 2020 presidential election, for instance, or Amazon’s refusal to carry a small number of books about trans issues without adequately explaining its decision. Tweets containing threats of violence left up indefinitely while mere tasteless jokes get swiftly removed.

But I also know deciding what and whom to allow on your platform is a hard problem. Scale is hard: I know I’m not seeing millions of pieces of spam eliminated, bots blocked, irrelevant content filtered, duplicates removed. Consistency is hard: I know sometimes what’s in my feed is the work of a robot doing a good job following bad directions, and sometimes it’s a human being doing a bad job following good directions. The application of Hanlon’s razor is almost certainly called for in many cases of perceived bias: “Never attribute to malice that which is adequately explained by stupidity.”

The difficulty of this task hasn’t stopped everyone from elected politicians to think-tankers to pundits from looking for ways to punish tech companies for doing it wrong. These folks disagree about what is broken in the status quo, but the calls to action are no less strident for all that.

For every person arguing against moderation on the grounds of ideological bias, there is someone else pushing for more aggressive moderation to control rampant hate speech or “disinformation”—which can mean everything from objectively false claims to arguments that some users consider subjectively offensive. There are those who find the profit-making aspect of the whole industry distasteful, and there are those who fret about the difficulties faced by would-be competitors due to the sheer size of the companies in question.

The push to crack down on Big Tech is both bipartisan and fiercely politically tribal—the worst of both worlds.

The proposed solutions are numerous, and nearly all involve aggressive government action: break up some or all Big Tech firms via antitrust, remove longstanding liability protections by rewriting Section 230 of the Communications Decency Act, treat social media platforms as public utilities or common carriers with all the constraints that entails, reinstate the Fairness Doctrine, and much more.

The fact that a firm is large is not evidence that it is a monopoly. And as Elizabeth Nolan Brown details in “The Bipartisan Antitrust Crusade Against Big Tech”, pushes to employ antitrust remedies against tech companies have a checkered history at best. They are too often expensive, time-consuming, and reactionary efforts that end up lagging behind market solutions while actively harming consumers.

There is one clear monopoly in this ecosystem, however: the state. Any legislative or regulatory restriction on Big Tech will not be a triumph of the oppressed over the powerful. It will be yet another instance of the already powerful wielding the state’s machinery to compel private companies to do what they want, likely at the expense of their market competitors or political enemies. Such reforms are far more likely to be censorship than to reduce censorship, in the strictest sense.

It has become fashionable on both the left and the right to argue that Big Tech is now more powerful than a government or perhaps indistinguishable from one. Here is a list of things governments sometimes do if they dislike what you say or how you say it: lock you up, take your property, take your children, send you to die in a war. Here is a list of things tech companies sometimes do: delete your account.

Twitter, Facebook, Amazon, and Google do play a huge role in many people’s lives. To be kicked off a popular platform can be deeply unpleasant and unnerving. But the notion that political interference will result in broader access to a better product is naive at best and dangerous at worst.

On platforms that do any moderation or curation at all—both functions that are necessary for a pleasant or even comprehensible user experience—there are going to be many thousands of borderline calls each day, by humans and robots alike. And those decisions get more plentiful and complex over time. That, in turn, generates more room for error, and more consumer demand for clarity.

It was human beings—not robots—who decided to bar then–President Donald Trump from Twitter and Facebook in the days following the January 6 riot at the U.S. Capitol. Months later, at press time, an elaborately convened Facebook Oversight Committee delivered a swift kick to the can by declaring that Trump’s suspension from the social media site was justified while also noting that an indefinite suspension is not consistent with the company’s term of service.

I see why the former president and his supporters are enraged. Facebook did a terrible job of communicating what it was willing to tolerate from its users. Still, it’s not a First Amendment violation. It’s not proof of a trust that needs busting. And it’s certainly not a sign that Facebook is now more powerful than a government.

Ousted from Facebook and Twitter, Trump has set up his own site. This is a perfectly reasonable response to being banned—a solution that is available to virtually every American with access to the internet. In fact, for all the bellyaching over the difficulty of challenging Big Tech incumbents, the video-sharing app TikTok has gone from zero users to over a billion in the last five years. The live audio app Clubhouse is growing rapidly, with 10 million weekly active users, despite being invite-only and less than a year old. Meanwhile, Facebook’s daily active users declined in the last two quarters. And it’s worth keeping in mind that only 10 percent of adults are daily users of Twitter, hardly a chokehold on American public discourse.

Every single one of these sites is entirely or primarily free to use. Yes, they make money, sometimes lots of it. But the people who are absolutely furious about the service they are receiving are, by any definition, getting much more than they paid for. The results of a laissez-faire regime on the internet have been remarkable, a flowering of innovation and bountiful consumer surplus.

The question of the correct level of content moderation by Facebook, Twitter, Google, Amazon, and their would-be rivals is not a question that needs to be answered in the sphere of politics. We do not need to agree on a single answer. Which is good, because we never will.

from Latest – Reason.com https://ift.tt/3fYch6f
via IFTTT

Don’t Try To Fix Big Tech With Politics


topicsfuture

I don’t know the correct level of content moderation by Facebook, Twitter, Google, or Amazon. And neither do you.

Sometimes I can pinpoint what looks to me like an obvious misstep: Facebook’s decision to block a New York Post story about Hunter Biden’s laptop in the weeks before the 2020 presidential election, for instance, or Amazon’s refusal to carry a small number of books about trans issues without adequately explaining its decision. Tweets containing threats of violence left up indefinitely while mere tasteless jokes get swiftly removed.

But I also know deciding what and whom to allow on your platform is a hard problem. Scale is hard: I know I’m not seeing millions of pieces of spam eliminated, bots blocked, irrelevant content filtered, duplicates removed. Consistency is hard: I know sometimes what’s in my feed is the work of a robot doing a good job following bad directions, and sometimes it’s a human being doing a bad job following good directions. The application of Hanlon’s razor is almost certainly called for in many cases of perceived bias: “Never attribute to malice that which is adequately explained by stupidity.”

The difficulty of this task hasn’t stopped everyone from elected politicians to think-tankers to pundits from looking for ways to punish tech companies for doing it wrong. These folks disagree about what is broken in the status quo, but the calls to action are no less strident for all that.

For every person arguing against moderation on the grounds of ideological bias, there is someone else pushing for more aggressive moderation to control rampant hate speech or “disinformation”—which can mean everything from objectively false claims to arguments that some users consider subjectively offensive. There are those who find the profit-making aspect of the whole industry distasteful, and there are those who fret about the difficulties faced by would-be competitors due to the sheer size of the companies in question.

The push to crack down on Big Tech is both bipartisan and fiercely politically tribal—the worst of both worlds.

The proposed solutions are numerous, and nearly all involve aggressive government action: break up some or all Big Tech firms via antitrust, remove longstanding liability protections by rewriting Section 230 of the Communications Decency Act, treat social media platforms as public utilities or common carriers with all the constraints that entails, reinstate the Fairness Doctrine, and much more.

The fact that a firm is large is not evidence that it is a monopoly. And as Elizabeth Nolan Brown details in “The Bipartisan Antitrust Crusade Against Big Tech”, pushes to employ antitrust remedies against tech companies have a checkered history at best. They are too often expensive, time-consuming, and reactionary efforts that end up lagging behind market solutions while actively harming consumers.

There is one clear monopoly in this ecosystem, however: the state. Any legislative or regulatory restriction on Big Tech will not be a triumph of the oppressed over the powerful. It will be yet another instance of the already powerful wielding the state’s machinery to compel private companies to do what they want, likely at the expense of their market competitors or political enemies. Such reforms are far more likely to be censorship than to reduce censorship, in the strictest sense.

It has become fashionable on both the left and the right to argue that Big Tech is now more powerful than a government or perhaps indistinguishable from one. Here is a list of things governments sometimes do if they dislike what you say or how you say it: lock you up, take your property, take your children, send you to die in a war. Here is a list of things tech companies sometimes do: delete your account.

Twitter, Facebook, Amazon, and Google do play a huge role in many people’s lives. To be kicked off a popular platform can be deeply unpleasant and unnerving. But the notion that political interference will result in broader access to a better product is naive at best and dangerous at worst.

On platforms that do any moderation or curation at all—both functions that are necessary for a pleasant or even comprehensible user experience—there are going to be many thousands of borderline calls each day, by humans and robots alike. And those decisions get more plentiful and complex over time. That, in turn, generates more room for error, and more consumer demand for clarity.

It was human beings—not robots—who decided to bar then–President Donald Trump from Twitter and Facebook in the days following the January 6 riot at the U.S. Capitol. Months later, at press time, an elaborately convened Facebook Oversight Committee delivered a swift kick to the can by declaring that Trump’s suspension from the social media site was justified while also noting that an indefinite suspension is not consistent with the company’s term of service.

I see why the former president and his supporters are enraged. Facebook did a terrible job of communicating what it was willing to tolerate from its users. Still, it’s not a First Amendment violation. It’s not proof of a trust that needs busting. And it’s certainly not a sign that Facebook is now more powerful than a government.

Ousted from Facebook and Twitter, Trump has set up his own site. This is a perfectly reasonable response to being banned—a solution that is available to virtually every American with access to the internet. In fact, for all the bellyaching over the difficulty of challenging Big Tech incumbents, the video-sharing app TikTok has gone from zero users to over a billion in the last five years. The live audio app Clubhouse is growing rapidly, with 10 million weekly active users, despite being invite-only and less than a year old. Meanwhile, Facebook’s daily active users declined in the last two quarters. And it’s worth keeping in mind that only 10 percent of adults are daily users of Twitter, hardly a chokehold on American public discourse.

Every single one of these sites is entirely or primarily free to use. Yes, they make money, sometimes lots of it. But the people who are absolutely furious about the service they are receiving are, by any definition, getting much more than they paid for. The results of a laissez-faire regime on the internet have been remarkable, a flowering of innovation and bountiful consumer surplus.

The question of the correct level of content moderation by Facebook, Twitter, Google, Amazon, and their would-be rivals is not a question that needs to be answered in the sphere of politics. We do not need to agree on a single answer. Which is good, because we never will.

from Latest – Reason.com https://ift.tt/3fYch6f
via IFTTT

Gen Z Is Spending At 125% Of Pre-Covid Levels, Amex CEO Says

Gen Z Is Spending At 125% Of Pre-Covid Levels, Amex CEO Says

No sooner did we just get done detailing how the time to build wealth was passing millennials by quickly than we find out that Gen Z is also doing everything they can to prevent themselves from building wealth.

Notably, they’re spending themselves into oblivion, a new Bloomberg report notes.

In fact, Gen Z is spending more now than they were before the pandemic. This is notable because Gen Z has less saved than older Americans, the report notes, meaning the increased spending likely hits their ability to build wealth over the long term harder than it would for other generations.

American Express Co. Chief Executive Officer Steve Squeri said on Friday: “We assumed there was such pent-up demand — not only for travel, but such a pent-up demand for consumer goods — that the U.S. recovery would be like it is right now.” 

Squeri

He continued: “When you look at your millennials and your Gen Zs right now,” they’re at “125% spending of what their pre-Covid levels were in 2019.”

The spending has been a boon for American Express, despite the company believing that corporate travel still won’t return to pre-pandemic levels until 2023. 

And to the extent that there is still a small space where the company can offer credit to literally anyone with a shred of a credit score, the company said it was considering a debit card – a risk for a company whose prestige and brand name carry its weight with its customers.

“It really didn’t work for us — the unbanked was really not our customer, and the prepaid market was not our customer, and we learned that,” Squeri said. “But is there something in between our everyday credit card and the prepaid card? And that potentially could be a debit card. That all needs to be worked out.”

While AMEX figures out ways to plunder new customers, its worth recalling that we recently noted how millennials have also spent themselves into oblivion. 

We wrote that the Covid recovery could be the last chance for those around the age of 40 to build the wealth they will need for their later years.

Most millennials, instead of basking in an incredible recovery and acutely focusing on re-bulding (or building for their first time) their finances, feel like 40 year old Kellie Beach, a real-estate attorney. She rode out the pandemic like most Americans: “I stayed afloat with credit cards. I was just used to swiping and overspending.”

Now that the government dole is running out and the Covid scapegoat is working its way (albeit, slowly) out of the discourse, it has become clear that it’s time to pay closer attention to her finances. She told Bloomberg: “Now I have this feeling — like this fire — of urgency. I’m not going to be in this place again. I can’t wait to get out of this debt. I can’t wait to save up for my emergency fund and invest again.”

40 year old Dustin Roberts was similarly situated – he had $38,000 remaining in student debt when finally put together what he could to buy his first house in April.  

He said: “My dad had always tried to tell me how important it was to buy a house, how that was a mode of financial security for him. I’m making more than my dad did, but am I better off? I don’t know that I can say yes.”

Millennials were 27 years old when Lehman went bankrupt and are now about 40 years old coming out of the Covid crisis. They have ridden out two major recessions during peak saving and investing years, the report notes. William Gale, senior fellow in the Economic Studies Program at the Brookings Institution said: “The Great Recession knocked everyone for a loop. It caused unemployment. It caused slow wage growth. It made it harder to accumulate wealth.”

Like Roberts, more millennials borrow to finance college that previous generations. “Millennials, who started college in 1999, paid an average of $15,604 per year for undergraduate tuition, fees and room and board,” Bloomberg wrote. “When Gen Xers and Baby Boomers started college, that number — adjusted for inflation — was about $10,300 for each of them.”

40 year old Summer Galvez went to Clark Atlanta University in Georgia for a couple of semesters before pulling out because it cost too much. She now “relies on her own skills and hustle,” working two jobs and still paying off loans from 20 years ago. 

“There are always economic factors that could happen that could just really upend your life,” she said.

Lowell Rickets, data scientist for the Institute for Economic Equity at the Federal Reserve Bank of St. Louis commented: “That’s one of the stark evolutions of the job market, where education has become a greater predictor of success.” 

Buying homes has been a scramble coming out of the pandemic, forcing prices higher and contributing to why millennials have a lower home ownership rate than previous generations at the same point in their lives: 61% for millennials versus 68% for Gen Xers and 66% for baby boomers. 

Millennials pay a median of $328,000 for homes while boomers only had to pay $216,000, the report notes. 

Richard Fry, a senior researcher at Pew Research Center, noted: “The basic way that middle American households build wealth is through their homes. Millennials have been less likely to be homeowners. Fewer of them have begun the process of building home equity.”

Tyler Durden
Mon, 06/07/2021 – 05:45

via ZeroHedge News https://ift.tt/3vU82hH Tyler Durden

China To Build 25-30 More Bio-Labs Like In Wuhan Over Next 5 Years

China To Build 25-30 More Bio-Labs Like In Wuhan Over Next 5 Years

Authored by James Anthony via The Post Millennial,

In the next few years, the world could see almost 60 maximum security Level 4 virology labs in operation. The Guangdong province announced in May that it was planning to build between 25 to 30 biosafety labs in the next five years.

“What could go wrong?” questioned Human Events senior editor Jack Posobiec:

The facilities will be flung all over the globe, spanning 23 countries including the United Kingdom, the United States, India, Gabon, and Côte d’Ivoire.

The current Wuhan Institute of Virology is now at the center of an investigation by US authorities into whether COVID-19 could have leaked from its lab.

About 75 percent of these facilities are or will be built in urban areas, which has experts around the world worried about the possibility of further “lab leaks.”

“Reporting is getting better certainly in some countries such as the UK and US where there has been media coverage of this, but we’re not yet where we want to be. The more work that is going on, the more accidents will happen,” commented Filippa Lentzos of King’s College in London, the Financial Times reported.

Richard Ebright, a professor of chemical biology at Rutgers University, concurred:

“The larger the number of institutions and the larger the number of individuals with access to these dangerous agents, the greater the risk.”

Ebright said that accidents and leaks have happened in large numbers in places that have weaker biosafety standards.

“We need to strengthen biosafety and biosecurity rules around the world,” the scholar urged.

Such laboratories used to carry out the most dangerous biological research have proliferated in the past decade with scientists now warning that lax controls at several locations could lead to another pandemic. Many experts have said the probe into the origins of COVID-19 has shown the problems of running high-risk experiments in the country. In March, 13 countries criticized China for not allowing full access to data and samples relating to the start of the pandemic.

Tyler Durden
Mon, 06/07/2021 – 05:00

via ZeroHedge News https://ift.tt/3w1TXid Tyler Durden

Brickbat: Just Asking Questions


survey_1161x653

Dracut Public Schools in Massachusetts has placed a high school teacher on leave after the teacher, who wasn’t named, gave students the “Sexual Temperament Questionnaire.” The survey, which Superintendent Steven Stone called “highly inappropriate,” asked students how much they agreed with statements such as “Unless things are ‘just right’ it is difficult for me to become sexually aroused”; “When I am sexually aroused, the slightest thing can turn me off”; “Having sex in a different setting than usual is a real turn on for me”; and “I get very turned on when someone wants me sexually.”

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Clean Energy Transition Drives Demand For Minerals

Clean Energy Transition Drives Demand For Minerals

According to a new report put out by the International Energy Agency, the demand for some minerals will skyrocket by 2040 as the world transitions towards clean energy technologies.

Lithium was the most affected, with clean energy technologies alone expected to fill up between 74 and 92 percent of global demand by 2040. Cobalt and nickel demand will be bracing for a similar scenario. Between 40 and 70 percent of extracted cobalt could go towards renewable energy goals in 2040, as could between 30 and 60 percent of nickel.

Infographic: Clean Energy Transition Drives Demand For Minerals | Statista

You will find more infographics at Statista

Translated into absolute numbers, as Statista’s Katharina Buchholz notes, the increased demand for crucial minerals in renewable energy would require deliveries to the sector to double or even quadruple. While demand stood at 7 million tons in the sector in 2020, it is expected to rise to between 15 and 27 million tons depending on the speed of sustainable development. To reach a net-zero energy future by 2050, the sector would even devour 43 million tons of minerals in 2040 – six times the current amount.

Minerals in renewable energy are often associated with electric vehicles and battery storage, even though renewable electricity generation currently has a way larger demand, especially for copper, zinc and silicon used in wind turbines and solar panels. Moving closer to clean energy goals, however, EVs and batteries are expected to start taking up an equally large part of demand and even surpass electricity generation in case the world moves towards a net zero future. The subsector is especially hungry for lithium, copper, nickel and graphite.

While the market for some of these minerals is bound to diversify in the clean energy revolution, many of them currently rely on very few producers. According to the IEA, almost 70 percent of cobalt came out of the Democratic Republic of the Congo in 2019, while around 60 percent of rare earths and graphite originated in China. For nickel, only three countries produced more than half of global output: Indonesia (33 percent), the Philippines (12 percent) and Russia (11 percent).

Tyler Durden
Mon, 06/07/2021 – 04:15

via ZeroHedge News https://ift.tt/3z8rclV Tyler Durden

Brickbat: Just Asking Questions


survey_1161x653

Dracut Public Schools in Massachusetts has placed a high school teacher on leave after the teacher, who wasn’t named, gave students the “Sexual Temperament Questionnaire.” The survey, which Superintendent Steven Stone called “highly inappropriate,” asked students how much they agreed with statements such as “Unless things are ‘just right’ it is difficult for me to become sexually aroused”; “When I am sexually aroused, the slightest thing can turn me off”; “Having sex in a different setting than usual is a real turn on for me”; and “I get very turned on when someone wants me sexually.”

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Daimler Trucks Is Short Of Workers Across The Board, CEO Says

Daimler Trucks Is Short Of Workers Across The Board, CEO Says

By Alan Adler of FreightWaves,

Production workers. Service technicians. Parts depot staff. Daimler Trucks North America (DTNA) is short of all of them, exemplifying how hard it is to keep up with a hot economy following a pandemic, recently named CEO John O’Leary said.

“It’s really a problem end to end,” O’Leary told FreightWaves on Wednesday.

“We have difficulty getting workers to build trucks and to work in our parts warehouses. Our dealers have difficulty getting techs to work on trucks. Our customers have difficulty getting drivers and service techs in their shops.

“So, it’s really a problem that is very widespread, and I know it’s not unique to our industry.”

Daimler Trucks North America CEO John O’Leary said the truck maker is short of workers across the board. (Photos: Daimler Trucks North America)

The worker shortage is just one issue DTNA is dealing with. An ongoing shortage of microchips that control various functions of today’s technology-laden trucks is another. But in that case, DTNA benefits from being part of a multinational company.

“We have a pretty strong global reach to be able to source chips from all over the place,” O’Leary said in his first interview since succeeding Roger Nielsen as DTNA president and CEO. He oversees Stuttgart, Germany-based Daimler AG’s most profitable unit. 

“I have days where sometimes I’m looking at a note in the morning that says we’re going to be down for the next three months and then later in that day … ‘Well sorry, we just found [chips]. Your heart rate can go back to normal.’”

Managing shortages of plastic parts and skyrocketing prices of raw materials like steel and aluminum is akin to playing whack-a-mole.

“There’s a lot of issues out there that we’re dealing with, not just constrained capacity,” he said. “It’s very much an emotional roller-coaster. I think we’ve done a really good job of being able to keep things going and getting trucks in the hands of customers.”

Intimate familiarity

O’Leary joined Daimler in 2000 after an 11-year career at PACCAR Inc., Daimler’s main rival for North American market share. The two companies account for about 70% share between them. DTNA brands are Freightliner, Western Star and Thomas Built Buses. PACCAR’s U.S.-based brands are Kenworth Trucks and Peterbilt Motors.

O’Leary served eight years as DTNA chief financial officer before a seven-month stint as chief transformation officer for Mercedes-Benz Trucks in Germany. He also ran aftermarket operations and the bus division.

As Daimler Trucks AG prepares for its spinoff from Daimler AG, the parent company of the truck organization and Mercedes-Benz passenger cars, O’Leary runs the business unit that is the envy of Daimler’s far-flung truck operations.

“DTNA within Daimler world is considered the benchmark from a financial performance, from a low fixed-overhead standpoint,” O’Leary said. “You try to stay one step ahead of your boss. And I try to have higher targets than even my boss can imagine dropping on me.”

Daimler Truck CEO Martin Daum ran DTNA before Nielsen. Counting O’Leary, the three men oversaw the growth of a juggernaut that claims a 40% market share in Class 8 trucks.

Escaping the car shadow

The rest of Daimler Truck likely will absorb headcount reductions and other cost cutting in the split-off from Daimler AG.

“One of the opportunities they have is to match up their structure, their cost basis to ours over time,” he said. “It’s not something you can easily do, but now I think they have the desire to do that.”

Gone will be the overwhelming influence of operating a commercial vehicle business within an organization dominated by passenger vehicles.

“The guys that really run Daimler are basically seven-eighths passenger car-driven,” O’Leary said. “We get into a lot of discussions trying to explain to people the difference between the car industry and the truck industry and why we need this investment and why we shouldn’t do this particular policy.

“Just to be able to laser-focus on trucks is extremely powerful and will really unleash us in ways that we haven’t before,” he said. “I don’t see so much benefit for DTNA, some for sure, but where it will really make a big difference is for Europe on the Mercedes-Benz Trucks side.”

Electrification leadership

DTNA also expects to lead in electrification of commercial trucks. It has lent 30 Class 8 and Class 6 battery-powered trucks to NFI Industries and Penske Truck Leasing in Southern California. Those trucks are nearing a combined million miles of real-world driving. 

An additional eight eCascadia and eM2 trucks are part of a Customer Experience Fleet lent for six to nine months at a time to help fleets understand how electric trucks differ from diesel-powered models that will dominate DTNA’s product portfolio for many years.

“It’s not just that we’re deciding on our own to throw a bunch of money at electric vehicles,” O’Leary said. “The discussions with our customers indicate that they are planning to buy a lot of those vehicles. It’s kind of a chicken-and-egg thing with all the infrastructure that has to be out there that isn’t there yet. But there is definitely a race to the market and we’re engaged in that.”

DTNA has begun taking orders for its Class 8 eCascadia and Class 6 eM2 models for production in late 2022 in Portland, Oregon

“For sure, the interest is accelerating,” O’Leary said. “The curve has tilted upwards in the last two years in terms of what people were expecting at this point in time. I think that’s continuing. There’s just a lot of pressure out there whether it’s from the political side, the social side [or] just people interested in the technology.”

Tyler Durden
Mon, 06/07/2021 – 03:30

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