Webtagr - Technology News Summarizer

Lottery Odds: A Rare Positive Expected Value?

2025-03-05

The Texas Lotto example shows that buying every possible lottery ticket isn't always a negative expected value play. With 25.8 million possible number combinations and often only a million tickets sold, weeks regularly go by with no jackpot winners. In 2024, only two jackpot winners emerged from 157 drawings, winning $17.5 million and $29 million respectively, leaving a $59.5 million jackpot by year's end. Someone finally won in February 2025, after the prize swelled to $83.5 million. While the odds remain extremely long, the accumulating jackpot can, theoretically, create a positive expected value – albeit a highly unlikely one.

(www.bloomberg.com)

Misc lottery probability expected value

Microsoft Cancels Data Center Leases: Overcapacity in AI Computing?

2025-02-24

Microsoft Corp. has canceled several US data center leases, according to TD Cowen, sparking concerns about potential overinvestment in AI computing capacity. The canceled leases represent “a couple of hundred megawatts” — roughly two data centers — and involved agreements with multiple private operators. This, along with a reduction in converting statements of qualifications to formal leases, suggests a potential recalibration of Microsoft's AI infrastructure strategy or an overestimation of long-term demand.

(www.bloomberg.com)

Tech

Apple to Invest $500B in US, Create 20,000 Jobs

2025-02-24

In a move to mitigate the impact of US tariffs on goods from China, Apple announced a $500 billion investment in the US over the next four years, creating 20,000 new jobs. This includes a new server manufacturing facility in Houston and a supplier academy in Michigan. The announcement follows a recent meeting between Apple CEO Tim Cook and President Trump, suggesting a potential effort to appease the administration and boost domestic production.

(www.bloomberg.com)

Tech

OpenAI Alumni Launch New AI Startup: Thinking Machines Lab

2025-02-20

Bloomberg's Tech In Depth newsletter reports on a new book by Palantir CEO Alex Karp. More significantly, a new AI startup, Thinking Machines Lab, has launched, led by former OpenAI CTO Mira Murati and featuring OpenAI co-founder John Schulman as chief scientist. This marks a significant new player in the AI landscape.

(www.bloomberg.com)

AI

The Billionaire's Wild Claim: Limitless Energy and Anti-Gravity

2025-02-08

In August 2021, Joseph Firmage, flanked by a bodyguard, entered a Salt Lake City video studio to film a promotional reel for his inventions: limitless clean energy devices, self-powered homes, and anti-gravity propulsion systems. He declared his ambition to make a 'structural difference' in the world, envisioning a brighter future for the third millennium. The story evokes the audacious dreams – and perhaps delusions – of a visionary billionaire.

(www.bloomberg.com)

Misc anti-gravity futuristic technology

Vanguard Cuts Fees, Sending Shockwaves Through Asset Management

2025-02-04

Vanguard Group has slashed fees for 168 share classes across 87 mutual funds and ETFs, a record move that's likely to disrupt the asset management industry. The cuts, effective immediately, lower Vanguard's average asset-weighted fee to just 0.07% on its $10 trillion under management—a stark contrast to the industry average of 0.44%.

(www.bloomberg.com)

Startup fee cuts asset management

Apple Scraps Advanced AR Glasses Project

2025-02-04

Apple Inc. has canceled a project to develop advanced augmented reality glasses designed to pair with its devices. This marks another setback in Apple's efforts to create a consumer-friendly AR headset. The project, shut down this week, involved glasses resembling regular eyewear but incorporating built-in displays and requiring a connection to a Mac. An Apple spokesperson declined to comment, highlighting the ongoing challenges in bringing mass-market AR glasses to fruition.

(www.bloomberg.com)

Tech

FTC Probes Microsoft-OpenAI Deal Over Antitrust Concerns

2025-01-18

The Federal Trade Commission (FTC) has expressed concerns about Microsoft's $13 billion investment in OpenAI, fearing it could extend Microsoft's cloud computing dominance into the burgeoning AI market and potentially lead to the full acquisition of AI companies by tech giants in the future. The FTC is also investigating Amazon and Google's partnerships with other AI companies, citing potential antitrust risks.

(www.bloomberg.com)

Tech AI investment Microsoft OpenAI

FDA Bans Cancer-Linked Red Dye No. 3

2025-01-16

The US Food and Drug Administration (FDA) has banned the artificial food coloring Red No. 3, linked to cancer, from being used in food and drugs. The ban takes effect January 15, 2027, for food products, with drug manufacturers given an extended deadline to reformulate. This impacts numerous products containing the dye, from candy to cold medicine, prompting concerns within the food industry.

(www.bloomberg.com)

Tech carcinogen

Morgan Stanley Abandons Net-Zero Banking Alliance

2025-01-02

Morgan Stanley has followed Citigroup and Bank of America in withdrawing from the Net-Zero Banking Alliance, a global initiative aimed at reducing greenhouse gas emissions. This decision raises questions about Wall Street's commitment to climate action. While Morgan Stanley claims continued support for client transition efforts, its departure casts doubt on the future of financial institutions' involvement in climate initiatives and raises concerns about the alliance's effectiveness.

(www.bloomberg.com)

Tech

Qualcomm Wins Arm Licensing Dispute

2024-12-21

A Delaware jury ruled in favor of Qualcomm Inc. in its legal battle with Arm Holdings Plc, finding that Qualcomm did not breach a license agreement for chip technology acquired through its $1.4 billion purchase of Nuvia Inc. in 2021. Arm claimed Qualcomm used the technology without paying higher licensing fees. While the jury found Qualcomm didn't violate the agreement, they couldn't reach a verdict on whether Nuvia itself breached the license, leaving that question open for a later retrial. The ruling is significant for Qualcomm's position in the mobile chip market.

(www.bloomberg.com)

Tech Chip Licensing

Japan's $33 Billion Gamble on Chip Manufacturing

2024-12-18

Japan is investing $33 billion in building semiconductor factories in remote areas like Hokkaido, aiming to reclaim its dominance in the chip industry. This has created a construction boom and attracted a large workforce, a stark contrast to the region's relatively sluggish job market. The ambitious project is a high-stakes gamble, but reflects Japan's determination to return to the forefront of technological innovation.

(www.bloomberg.com)

Tech chip manufacturing Japanese investment