Tesla’s Carpool Karaoke Entry

• 3 min read
Tesla’s Carpool Karaoke Entry

MARKET MOVERS

  • GM is hiring for 8,000 new tech jobs after adding 10,000 similarly skilled workers last year. GM needs to add people as the company pushes Chief Executive Officer Mary Barra’s $35 billion plan to build 30 electric vehicles by 2025 and start its Cruise robotaxi business. Their lure is the  “work appropriately” strategy that lets people work from remote locations.

  • The EU's microchip plan to rival the U.S. and Asia takes the next step. Coming European Union legislation to promote microchip development would mobilize funding comparable to the $52 billion proposed in pending U.S. legislation. The new effort aims to close that gap and increase the EU’s self-sufficiency in semiconductors, which are vital in almost all fields of technology and industry. Read more here.

  • Apartment Market Survey shows strong demand, record-high occupancy, and double-digit rent growth. We are continuing to witness strong demand for apartments across the entire U.S., but most notably in the Sun Belt, where most markets have seen double-digit rent growth that has more than made up for the pandemic slowdown, noted NMHC’s Chief Economist, Mark Obrinsky. Read more here.

  • Tesla's growing Supercharger network is its silent superweapon. Supercharger stations are up 36% year-over-year. Supercharger connected numbers up 35% year-over-year. The number went from Q3 2021 29,000, 281 supercharger connectors, 3254 stations, and 31 498 connectors. That is one of the reasons why Tesla cannot be beaten right now even if the other EV cars are better. Source(10:29)

  • Tesla introduces TeslaMic as it tries to catch up to local rivals. These are karaoke microphones for singing in cars. Chinese consumers on Friday gave an ovation to Tesla Inc. Tesla is facing tough competition in the karaoke-crazed country from other EV makers, several of which beat Tesla to the market with similar combinations of software and hardware for in-car karaoke.

WHAT TO WATCH

  • Fidelity filed for a Metaverse ETF. The fund giant filed an application with the SEC on Friday for an exchange-traded fund called the Fidelity Metaverse Index ETF. The actively managed fund, Fidelity said in the filing, will be focused on companies that develop, manufacture, distribute or sell products and services relating to enabling the metaverse. Read more here.

  • New home supply is on the way. There are more new homes and apartments under construction now than at any time in the last 45 years. This includes everything from permitted homes that have not yet been started to homes whose completions have been delayed by months.

  • Nvidia to power the fastest supercomputer in the world. The company is supplying the computing hardware for Meta's AI Research Data Center: Research SuperCluster (RSC). Meta says it will use its Nvidia-powered machine to research and build services using computer vision (giving a computer the ability to "see" and recognize its surroundings) and natural language processing and recognition.

  • The Fed may have to choose between recession and structural inflation, at some point, says Jim Bianco of Bianco Research. There is no magic policy that reduces inflation without reducing the growth of the economy. That is the point of raising rates. It's to lean on the economy and slow it down and hurt earnings in order to bring down demand and bring down prices. So they've got to pick one or the other. Source(7:37)

  • The supply chain issue might get resolved in 2023, says Chamath Palihapitiya. Companies that are spending enormous amounts of money on Capex have actually guided to the fact that by the end of this year and at the beginning of next year most of these supply chain worries will be worked out. The cost of Apple and Tesla specifically leading to that is too enormous so they're not going to get something like this wrong. Source(52:33)
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