Super blaster technology news for the day
Tesla is pushing a free one-month trial of its FSD Beta driver-assistance software to US customers
Tesla is offering a one-month trial of its $12,000 Full Self-Driving Beta system to all U.S. customers with compatible hardware. This move, coinciding with the end of the first quarter, aims to boost sales. Prospective buyers will also receive a demo of the software before purchasing. However, it comes amidst a civil lawsuit over a 2018 crash involving Autopilot. While Tesla's new V12 software version has received praise, not everyone has had a smooth experience. Expanding access to the FSD Beta could provide more data for training neural networks but also raises concerns about users not adhering to safety instructions.
Billionaire investor warns -The faster and higher things go up, the harder they fall- while talking about skyrocketed AI stocks, which will predictably lead to an inflationary economic slowdown
DoubleLine Capital CEO Jeffrey Gundlach, a billionaire investor, has voiced concerns about the current AI investment frenzy, drawing parallels to the dot-com era. He warns that the market is driven by momentum and urges caution, likening the situation to a potential bubble. Gundlach advocates for a diversified investment approach, preferring equal-weighted index funds over individual stocks, citing the risk of massive losses. Despite AI's promising potential, its rapid growth poses challenges, including high energy consumption and water usage.
While companies like Microsoft and NVIDIA have seen remarkable success in the AI space, Gundlach cautions against aggressive investing, citing inflated stock prices driven by recent interest rate cuts. He warns that this environment is not conducive to risky investments and predicts an economic slowdown due to inflationary pressures, exacerbated by rising crude oil prices. In essence, Gundlach's message underscores the importance of prudent investing amidst a volatile market fueled by the AI boom and macroeconomic factors.
Trending crypto news for the day
Bitcoin surged above $70,000, marking a significant rebound after a 10-day cooldown. The rally was broad, with Ethereum's ether also up, alongside Solana (SOL) and Avalanche (AVAX), which each saw gains of over 10%. Despite the climb, there weren't widespread short liquidations, indicating fewer leveraged bets against rising prices. Analysts at 10x Research set a bullish target of $83,000 for Bitcoin, expecting further gains after it broke out of a consolidation pattern. The broader crypto market followed suit, with the CoinDesk 20 Index showing a 6.1% increase for the day. However, the sudden surge led to $195 million in leveraged derivatives liquidations, though notably, short positions were not heavily hit. Bitcoin's resurgence above $70,000 brought it back above its 2021 peak, signaling renewed optimism among investors.
Trending selfmade Billionaire of the day
Vitalik Buterin, born in Russia and raised in Canada, is a prominent figure in the cryptocurrency world. He co-founded Bitcoin Magazine in 2011 and later played a key role in creating Ethereum, a blockchain platform allowing for various applications beyond just cryptocurrencies. Buterin's journey began with a passion for mathematics and programming, leading him to drop out of university to work on Ethereum full-time after receiving a grant. His contributions extend beyond Ethereum; he's been involved in open-source projects like DarkWallet and Bitcoin Python libraries. Buterin's vision for decentralized systems was influenced by his experience with centralized gaming platforms. Notably, he met with Russian President Putin to discuss Ethereum's potential. He also collaborated with economist Glen Weyl on ideas for wealth distribution and optimal provision of public goods. Buterin's impact on the crypto space continues to evolve, reflecting his interdisciplinary approach and commitment to decentralization.