Tag: Musk, Elon

The Numbers in the News

Chin@Strategy

Numbers that count 2 Two major central banks — the Bank of Japan and the People’s Bank of China — were the only ones not to raise interest rates this year, as inflation threatened economic growth and sapped consumer purchasing power. Central banks have collectively increased rates by more than 70 percent in 2022, according to LPL Financial, with the same goal: raise borrowing costs to cool rising prices that have been hitting shoppers from London to Poughkeepsie. Many were following the Fed, which increased its prime lending rate to…

Elon’s Two-Day War with Apple + How to Beat an A.I. Censor + S.B.F.’s ‘Bad Month’

Chin@Strategy

Listen and follow ‘Hard Fork’Apple | Spotify | Stitcher | Amazon | Google Elon Musk accuses Apple of trying to sabotage Twitter. But after his visit with Apple’s C.E.O., Tim Cook, things are … good? Then, the New York Times reporter Paul Mozur on the tactics Chinese protesters are deploying to avoid the most sophisticated censorship apparatus in the world. Plus: S.B.F. says it’s been a “bad month.” Credits “Hard Fork” is hosted by Kevin Roose and Casey Newton and produced by Davis Land. The show is edited by Paula…

Elon Musk Takes on Apple and Its App Store

Chin@Strategy

Leon Black is accused of raping a woman at Jeffrey Epstein’s home in 2002. Cheri Pierson sued Black, the former Apollo Global Management C.E.O., becoming the second woman to publicly accuse him of sexual assault. A lawyer for Mr. Black denied Pierson’s claims and called them an extortion attempt. Bob Iger commits to reining in expenses at Disney. At his first companywide meeting on Monday, the recently rehired Disney C.E.O. said that he would keep a hiring freeze in place and that Disney+ would focus on turning a profit over…

Zero-Covid Protests in China Shake Global Markets

Chin@Strategy

Crypto investors see trouble ahead Crypto asset prices sank again on Monday even as Binance, the industry’s biggest exchange, tried to restore investor trust by pushing for greater transparency across its exchange following the collapse of its rival, FTX, earlier this month. How bad could it get? Mark Mobius, a co-founder of Mobius Capital Partners, told Bloomberg this morning that his new price target for Bitcoin is $10,000, implying a further drop of nearly 40 percent. Binance sought to calm investor nerves. This weekend, Changpeng Zhao, its founder, said that…

Tesla Cuts Prices in China in Sign of Slowing Demand

Chin@Strategy

Tesla on Monday cut prices for its cars in China, a sign of intensifying competition in the world’s largest car market that provoked a slump in the company’s shares. Tesla’s Chinese website was offering the Model 3 sedan on Monday for a starting price of 265,900 renminbi, or $36,600, including government subsidies, a 5 percent reduction. The Model Y sport utility vehicle was advertised at 288,900 renminbi, a 9 percent cut. Tesla shares fell more than 6 percent before recovering a little as the price cuts reinforced fears among investors…

Tesla’s Aura Dims as Its Plunging Stock Highlights the Risks It Faces

Chin@Strategy

Chinese consumers “are edgy, they’re worried about the future,” Mr. Dunne said. “It’s a double whammy that Tesla confronts in China.” Tesla shares are reacting in part to the same forces that are roiling stock markets around the world: war in Ukraine, rising interest rates, the threat of recession, supply chain chaos and surging inflation. But Tesla shares have fallen much more than other Silicon Valley giants like Apple or Alphabet, the company that owns Google. Tesla accounted for three-quarters of the electric cars sold in the United States last…

Musk’s Ties to China Could Create Headaches for Twitter

Chin@Strategy

SAN FRANCISCO — When Elon Musk opened a Tesla factory in Shanghai in 2019, the Chinese government welcomed him with billions of dollars’ worth of cheap land, loans, tax breaks and subsidies. “I really think China is the future,” Mr. Musk cheered. Tesla’s road since then has been lucrative, with a quarter of the company’s revenue in 2021 coming from China, but not without problems. The firm faced a consumer and regulatory revolt in China last year over manufacturing flaws. With his deal to take over Twitter, Mr. Musk’s ties…

How Tesla Helps China’s Firms Compete With the U.S.

Chin@Strategy

Forty-two years ago, Liu Siong Song built machines to help factories make cheap toys and watches. Then he made them for motorcycle companies. Now he helps Tesla, in the words of Elon Musk, “make full-size cars in the same way that toy cars are made.” Mr. Liu, 69, may have come full circle, in a sense, but he also may play a role in the future of driving. His company is one of the emerging Chinese manufacturers competing aggressively and competently with traditional players in the United States, Japan and…