COVID-19 and a summer of rioting and looting have driven New Yorkers to flee to the suburbs where they are creating islands of peace. The NY Post details where they left and where they went: Where they fled from Top zip codes New Yorkers exited between March 1 and Oct. 31, 2020, with the number of change of address requests for each area: 1. Upper West Side, 10023: 3,368 2. Upper West Side, 10025: 3,000 3. Murray Hill, 10016: 2,889 4. Upper West Side, 10024: 2,708 5. Chelsea/Greenwich Village, 10011: 2,520 6. Upper East Side, 10128: 2,165 7. Downtown Brooklyn, 11201: 1,836 8. … [Read more...]
Scientists Claim to Have Broken the Code on Solid State Lithium Batteries
Scientists working for QuantumScape claim to have found a breakthrough in lithium battery technology. WIRED reports: IF ELECTRIC VEHICLES are ever going to fully supplant gas guzzlers on the world’s roads, they’re going to need an entirely new type of battery. Despite steady improvements over the past decade in the energy density and lifetimes of lithium-ion batteries, the cells in new EVs still lag behind internal combustion engines on pretty much every performance metric. Most EVs have a range of less than 300 miles, it takes more than an hour to recharge their battery packs, the cells lose … [Read more...]
Stealing Your Dollars in the Dead of Night
Will you even know it when they come for your cash? When they the steal it in the dead of night? When the digitalization of the dollar makes paper obsolete? Think they can’t inflate your money away? Look at interest rates—flat as a gingerbread cookie and stoking the inflationary real estate fire. First-time buyers can barely afford a manger, never mind a three-bedroom, two and a half bath. Remember when you bought your first home when interest rates were closer to the Twelfth Day of Christmas than the first? Back then, at least you could make the numbers work based on your salary. Today, … [Read more...]
IPO Market Looking a Lot Like It’s 1999
The IPO market is booming, or bubbling if you prefer. Doordash, a modern-day courier service, and Airbnb both came public last week. Doordash rose 87% from its IPO price and Airbnb was up 113%. Airbnb is now worth more than the combined value of Marriott, Hyatt, and Hilton. Below is a succinct summary of everything you need to know about today’s IPO market. Frothy conditions in the IPO market should be viewed as a caution flag. The WSJ reports: The valuations of the newly public companies are dwarfing older rivals. Airbnb is worth more than Marriott International Inc., Hilton Worldwide … [Read more...]
Top Gun: Meeting Enemy FIRE Golfing in Key West
You don’t go to Key West to golf, but, if you’re in Key West and want to, then you’re in for a treat. There’s a great 18-hole, southernmost course just outside of Old Town KW. It’s just far enough to enjoy your chocolate croissant and con leche or to split a cuban mix from 5 Brothers on your drive. Now being a public/private course and the only one, it gets a lot of play. Tee times are required and if you’re a twosome you’ll soon be paired up into a foursome whether you like it or not. “Don’t worry,” I said to my son Owen between bites. “Meeting other golfers is like meeting other skiers. … [Read more...]
Time to Cut Trading Ties with China
The WSJ outlines below how Chinese President Xi is forcing more state control of Chinese businesses. This is being done today under the auspices of helping the party, but having more state-owned enterprises or quasi-state controlled enterprises does not create a level playing field. China doesn’t view business the same way Western firms do. The private sector and the public sector are partners in China. No profit-motivated Western business lacking the implicit backing of its national government can compete with Chinese businesses that get or will get that kind of support. It’s time … [Read more...]
Elon Musk: When I Spend too Much Time in the Conference Room
Here Elon Musk talks about what happens when he spends more time in the conference room than on the factory floor. Musk recently announced his move to Texas from California. He's not alone. Originally posted on Your Survival Guy. … [Read more...]
Why Silicon Valley is Moving to Texas
You read here yesterday that tech billionaire Elon Musk has moved to Texas, but he's not the only one making the break from California for the Lone Star State. Nearly 700,000 Californians have moved to Texas over the last ten years. Now, the company that laid the cornerstones of Silicon Valley's tech dominance, Hewlett Packard, is moving there too. Fox News reports: The San Jose, California-based tech company disclosed the move in an SEC filing. “HPE has made the decision to relocate its headquarters from San Jose, California, to Houston, Texas. HPE’s largest U.S. employment hub, Houston … [Read more...]
This Lithium Battery Start-up is Growing Fast
In Barron's, Al Root reports on QuantumScape, a lithium battery start-up that has helped push the industry's valuation to new highs. He writes: The lithium-battery industry is now more valuable than Exxon Mobil, which pioneered the technology back in the 1970s. The valuation of QuantumScape (ticker: QS) pushed the battery makers over the top. Its stock is up more than 300% over the past three months, valuing the start-up maker of solid-state electric-vehicle batteries at more than $30 billion. Exxon (XOM) stock has staged a comeback from earlier in the year, with a gain of about 12% … [Read more...]
Even Elon Musk, Tech Billionaire, is Looking for a Better America
You're not the only one thinking about packing up your business and heading for a low-tax state where politicians treat you like their employer rather than their piggy bank. The billionaire CEO of Tesla and SpaceX, Elon Musk has moved to Texas. Heather Somerville reports for The Wall Street Journal: Tesla Inc. Chief Executive Elon Musk said he has moved to Texas, taking aim at Silicon Valley and becoming one of the highest-profile executives yet to leave California during the coronavirus pandemic. He said relocating made sense with Tesla’s new factory being built in Texas. He lamented that … [Read more...]
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