Tesla’s declining earnings reflect market shifts. And US ban TIKTOK a big  Explore implications & insights on Tesla’s financial performance. Stay informed on the latest updates.”

Tesla's declining earnings

President Joe Biden signed a measure that gave Byte Dance, the parent company of TikTok, nine months to sell off its shares in the app or risk having it banned from being distributed in the country. This move casts doubt on TikTok’s future in the United States. Ivan discusses how TikTok bans in other nations may be a foreshadowing of things to come here in the United States.

The consequences of the Change Healthcare breach are still being felt. This week, Change, a division of UnitedHealth, the largest health insurance provider in the country, said that the ransomware attack that it was the subject of earlier this year resulted in a massive theft of Americans’ sensitive health information, potentially affecting “a substantial proportion” of the population.

Additionally, Tesla’s profitability fell by 55% as the electric vehicle manufacturer faces growing competition from hybrid automakers. The expansion plan of the automaker is

focused on unidentified, less expensive EVs that are expected to go on sale next year, possibly with a robotaxi. However, in the interim, a Cyber truck accelerator pedal recall won’t do much to help.

Many more things occurred. We go over everything in this issue of WiR, but before, don’t forget to subscribe so you can get the WiR newsletter delivered straight to your inbox every Saturday.

Tesla’s declining earnings

Amazon grocery plan: In the United States, Amazon introduced a brand-new, limitless grocery delivery service. For Amazon Prime members, the plan costs $9.99 a month and includes free delivery for grocery orders over $35 to Whole Foods Market, Amazon Fresh, and other nearby grocery stores.

Drones in California are grounded: More Amazon news: the tech behemoth announced that Prime Air drone delivery will no longer be offered.

operations in California’s Lockeford. After College Station, Texas, the 3,500-person community in Central California served as the company’s second drone delivery location in the United States; Amazon provided no information behind the setback.

Fisker prepares layoffs: In a desperate attempt to seek capital to survive, the electric vehicle startup Fisker says it is preparing additional layoffs less than two months after laying off 15% of its personnel. If Fisker is unable to come up with the money, it plans to file for bankruptcy within the next 30 days.

Stripe expansion: At its San Francisco Sessions conference, Stripe made a number of additional announcements, one of which was that it will be separating payments from the rest of its financial services stack. Considering that Stripe previously mandated that companies be payment clients in order to access any of

That’s a significant shift from its other items.

Examination
Hands-on rabbit: Brian discusses the R1, the company’s first gadget from its AI firm. He believes that the R1 is significantly more accessible than Humane’s Ai Pin because of its touchscreen, $199 price tag, and wacky look from renowned design firm Teenage Engineering.

Lab-grown diamonds: Pascal, a startup sponsored by Andreessen Horowitz, says it can lower the cost of high-end jewelry by employing lab-grown diamonds, which are one-twentieth the price of genuine diamonds but have a similar chemical and physical makeup.

AI poetry: An actual, physical camera known as the Poetry Camera is an experiment that blends open source technology with whimsical design and creative vision. The Poetry Camera does more than just take pictures; it uses artificial intelligence to create thought-provoking stanzas based on the images it sees.

Deep dive with a ripple: The CEO of workforce management startup Rippling, Parker Conrad, was interviewed by Connie on the company’s recent $200 million fundraising round, its recently signed lease in San Francisco (which is the second largest in the city this year), and other topics.

And Tesla profits dropped 55% as the EV company contends with increased pressure from hybrid carmakers. The automaker’s growth plan is centered around mysterious cheaper EVs scheduled to launch next year — as well as perhaps a robotaxi. But a recall on the Cybertruck for faulty accelerator pedals certainly won’t help in the interim.

Lots else happened. We recap it all in this edition of WiR — but first, a reminder to sign up to receive the WiR newsletter in your inbox every Saturday.

 

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