The electric carmaker posted record quarterly earnings yesterday, beating Wall Street forecasts.
Tesla’s $1.5 billion purchase of Bitcoin, and subsequent sale of a chunk of its holdings, led to a $101 million accounting boost.
Tesla also made $518 million from selling emissions credits to other carmakers, up from $354 million a year ago.
, conceded that problems in sourcing components — notably, the global shortage of computer chips — had led to “some of the most difficult supply-chain challenges that we’ve ever experienced.” The real pinch may come in the second quarter, so it’s a good thing that Tesla has so many other businesses to fall back on.
Tesla is still dealing with an investigation into a fatal crash in Texas this month involving one of its vehicles, in which the police say no one was behind the wheel.
“The main line in the sand now for the bulls and bears is not the near-term chip shortage,” Dan Ives of Wedbush wrote in a research note this morning.
Tech giants — including Google and Microsoft, both led by Indian-born executives — will also send supplies and funds to help.
The bureau also reported big changes to the political map, with the South and West gaining seats in Congress and New York, California and the Midwest losing representation.
Biden will propose giving the agency an extra $80 billion and additional authority to catch cheating by the wealthy and big corporations, The Times’s Jim Tankersley reports.
Et tu, UBS? The Swiss banking giant said it had lost $774 million from its exposure to Archegos, becoming yet another financial giant to be hurt by the investment fund’s meltdown.
It’s the latest outpost for Apple outside California: The company is also opening a campus in Austin, Texas, next year.
The matter pits charities against the state of California over donor disclosure requirements, and it’s a dispute over a seemingly small technical issue which some say has serious implications for political donations.
The foundation argues that California violates the constitutionally protected right to anonymous association by collecting major donor data and failing to protect it .
In this case, it’s standing with the Americans for Prosperity Foundation because of what it calls California’s “systemic incompetence” in failing to protect nonpublic data.
Opponents say this is a case about “dark money.” Democratic senators argued in an amicus brief that the foundation is advancing the matter as a way to make it easier for special interests to influence politics with untraceable money.
— Brian Wieser, president of business intelligence at GroupM, on the leverage that Apple has over Facebook.
Amid the recent cryptocurrency frenzy, many people wonder whether it’s time to buy Bitcoin or mint an NFT and whether it’s too late to get rich quick.
“We believe blockchain offers a key opportunity to end digital exclusion and widen access to higher education and employment,” Getahun Mekuria, Ethiopia’s education minister, said in a statement about the project hosted on the IOHK-backed, open-source Cardano platform.
He left in 2014 with a mission to bolster crypto’s intellectual underpinnings and advance blockchain’s reach around the world, emphasizing things like security and governance.
Basecamp, a company that makes productivity software, said yesterday that it had “made some internal changes,” including a ban on talking about politics at work.
Surveys suggest that a large portion of employees believe that the companies they work for should speak up on social issues.
Both C.E.O.s framed it as removing distractions but carved out exceptions for issues they consider relevant to their businesses.
The timing of these announcements is probably no accident, following a surge of employee activism and corporate action on social issues.