If you are launching an SUV to prove to everyone you’re not as chaotic a company as the media makes out, then start on time.
The Tesla Model Y launch live stream was delayed. As I sat waiting all I could think was here we go again. Maybe I’m just a stickler for being on time, but when everyone is suggesting your CEO, Elon Musk, doesn’t run a tight ship and you make only a handful of unveilings a year, start on time. After 15 minutes the screen went black, and rather than increase my excitement I was just annoyed. It then told me to stay tuned. After 20 odd minutes, it began.
TESLA WILL BE ON MARS IN 10 YEARS AND KAZAKHSTAN WILL HAVE SUPERCHARGERS (MAYBE)
First, there was an advert for Tesla generally. Then Musk came out to give a monologue about the origins of Tesla in his unique stuttering, off the cuff, style while they showcased the product line, starting with their first ever car (serial number 01) and working through the different models.
Two awkward jokes about making a model E (ultimately 3) to go between the model S and X and the word Semi and we were finally ready to see the car. Or so I thought, there was a bit more blurb to go and a jovial musk was clearly in a good mood having made it through a tough 2018 and was enjoying his time on stage. Hot off the press: Tesla will build superchargers in Kazakhstan, and a Tesla could be driving on Mars in 10 years. You didn’t come for that info, but there you go.
NO SURPRISES IN UNVEILING OF PRACTICAL MODEL Y
Some told you so quotes from naysayers in the past and here comes the Y. Oh my. It’s a model 3 utilizing the ugliest parts of the X. Probably a brilliant car functionally, however, and it makes sense they would reuse all the components in the other vehicles to makeshift an SUV in a limited time-frame. You can’t help but think it looks like a bit of a rush job though. The Y isn’t a ground-breaking car; it’s a necessary push into the mainstream. A cash cow if you will. All of a sudden Musk disappeared into the night, and it was over. No surprises or Easter eggs this time.
Lamborghini, Rolls Royce, and Bentley are all companies you wouldn’t expect to make an SUV, and yet they do. The market just told them they should make one, and here comes Tesla to join them. I can’t help but feel like it’s a mistake, but time will tell. Existing Tesla owners will probably be worried about the company biting off another considerable chunk of car production to chew at a fiscally tight time for the company.
TESLA AND MUSK ARE FACING A FIRESTORM OF LEGAL SUITS AND CRITICISM
If Tesla isn’t in chaos, then it must be close. The staggeringly loose management style of Musk has been attracting a lot of attention lately, as he faces a sea of legal troubles. Lawsuits from both shareholders and a case filed against him by the SEC take aim at Musk’s tweeting as CEO. Next, take a look at the economy-drive which has seen Tesla close stores, then re-open them, cut prices and then hike them again. Its a wild time for Tesla fans.
Report: Quadriga CEO indulged in millionaire lifestyle using customer funds
Former CEO of Canadian cryptocurrency exchange QuadrigaCX, Gerald Cotten, whose death resulted in the loss of $190 million worth of customer funds and bankrupted the exchange, had reportedly been transferring user funds into his personal account and using them for personal gain, a report by Ernst & Young has revealed.
Ernst & Young (EY), Quadriga’s court-appointed monitor, has spent the last four months investigating the exchange and released its findings in its fifth report. During their investigations, EY discovered multiple incidents were Cotten had misappropriated user funds.
“Funds received from and held by Quadriga on behalf of Users appear to have been used by Quadriga for a number of purposes other than to fund User withdrawals,” the report reads.
The report continues, stating that user cryptocurrencies were not held exclusively in Quadriga’s hot and cold wallets. Instead, evidence has revealed that “significant volumes of cryptocurrency” had been transferred out of the exchange and into Cotten’s personal accounts with other exchanges. EY believes that Cotten either exchanged these funds or used them to trade on other exchanges.
Block.one’s CEO asserts Voice to be a mix of centralized and decentralized features
The controversy surrounding whether EOS network being decentralized has garnered huge attention in the past and continues even today. As the community continues to battle EOS’s innate nature between centralized and decentralized network, the firm behind it, Block.one’s latest product and the social media app Voice will be a mixture of both decentralization and centralization.
In the latest edition of CNBC Crypto Trader, Brendan Blumer, CEO of Block.one, the official developer for EOS cryptocurrency, revealed that the latest rollout has both the aspects. Talking about whether Voice is a decentralized entity and the revenues generated will be distributed across the community, the CEO said,
“We are absolutely decentralizing the economy of attention. If you think, that’s exactly what social media platforms are, they basically sell attention. So we are decentralizing the control over that component.”
Blumer further noted,
“When it gets into content moderation, and these sorts of things we are starting with centralized moderation, just to make sure that we can make it a compliant platform with multiple different types of jurisdictions.”
The CEO also said that in a longer term, Block.one will focus on a road to go towards decentralizing content moderation.
He also cited that blockchain is an excellent vehicle to disrupt the existing social media platform. It brings not only transparency and accountability to the table, but also leverages blockchain-based identity.
The latest blockchain-powered Voice roll-out on the EOS network, according to the CEO, aims to clean-up the behavior and autonomously recognize the values and distribute tokens which will allow people to be beneficiaries of the platform as opposed to just the company.
Kik CEO: The SEC “continues to divide and conquer the whole industry”
Ted Livingston, CEO of Canada-based messaging app Kik, has recently provided some more details regarding the ongoing case with the US Securities and Exchange Commission (SEC) during an interview with CNBC Crypto Trader.
Livingston begins by explaining the first time Kik heard from the SEC, stating it began three days after the competition of their token sale, held around 18 months ago. He says their interaction began as “friendly,” with the commission wanting to know more about what they were doing.
Then there were subpoenas and then testimony and finally they issued us a Wells notice in November last year. We issued them our Wells response. We took both those things public in January and then finally we said ‘enough is enough, let’s go public, let’s go to court’.”
NeuNer then asked if they thought the SEC would actually sue them. Livingston stated that they “weren’t sure” but they did know that the crypto industry needs more clarity and that’s exactly what they would receive whether the SEC sued or not.
“We said to the SEC ‘you’ve let us know you think there’s an infraction here, we’re gonna tell the world that. So one way or the other you’re gonna give us clarity. Either you choose to go ahead and we can fight this out in court or you back down’ and that in and of itself will be guidance.”
Livingston was then asked about the decision to fight the SEC. He says that while the commission originally had good intentions, “but what we’ve come to discover is they continue to divide and conquer the whole industry and everyone is in this state of fear of what the would SEC think,” adding that its hindering their ability to “compete on a global stage.”