ShipBob, a Chicago, IL-based technology company that streamlines fulfillment by bringing next-day and two-day shipping options to ecommerce businesses, raised $40m in Series C funding. The round was led by Menlo Ventures with participation from existing investors Bain Capital Ventures, Hyde Park Venture Partners, Hyde Park Angels and Y Combinator. In conjunction with the funding,… Continue reading ShipBob Raises $40M in Series C Funding
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ABB ties up with Niti Aayog, OEMs to develop EV charging models
New Delhi: Robotics and automation technology company ABB has joined hands with Niti Aayog and several OEMs to develop electric vehicle charging models. The company showcased its Terra HP fast-charging system which can power up a car for 200 kilometers in a single charge of eight minutes at the MOVE Global Mobility Summit 2018.At present,… Continue reading ABB ties up with Niti Aayog, OEMs to develop EV charging models
Elon Musk smokes weed, sips whiskey on Joe Rogan’s podcast
Elon Musk seen smoking weed, drinking whiskey on podcast
1 Hour Ago | 08:17
Billionaire Elon Musk took viewers by surprise late Thursday when he briefly smoked marijuana and drank whiskey during a live interview.
The Tesla chief executive was speaking with comedian Joe Rogan, an advocate of legalizing weed, on his live internet show when he was handed the joint. A spokesperson for Tesla was not immediately available for comment when contacted by CNBC.
“Is that a joint? Or is it a cigar?” Musk asked Rogan before being told it was a cigarette containing marijuana, which is legal in California, and tobacco.
Asked whether he had tried it before, the entrepreneur said: “Yeah, I think I tried one once.”
“You probably can't because of stockholders,” Rogan said, to which Musk retorted: “I mean it's legal, right?”
The two had been engaged in a lengthy discussion on a number of issues including humanity, artificial intelligence, Tesla and China.
Elsewhere in the podcast, which ran for roughly 2 hours and 30 minutes, Musk is handed a Samurai sword by Rogan, which he observes with keen interest.
Musk also brought into the studio one of his tunneling firm's flamethrowers — which sold out mere days after they went on sale at the start of the year. He is seen wielding it in an Instagram post by Rogan.
Rogan's podcast “The Joe Rogan Experience” is one of the most popular in the U.S. Within five hours, his interview live stream with Musk on YouTube had attracted almost 450,000 viewers, and 3.2 million people are subscribed to his YouTube channel.
Musk's Twitter wars
Musk addressed his tweeting habits on the podcast, debating with Rogan whether his direct engagement and battles with people on the platform was a “good idea.”
“I think it's on balance more good than bad but there's definitely some bad so hopefully the good outweighs the bad,” he said.
Speaking about how he deals with negative comments directed at him on the social network, the businessman said he mostly ignores them.
He said: “The vast number of negative comments, the vast majority of them I just ignore them. Every now and again I get drawn in, it's not good. I make some mistakes.”
Musk, who founded X.com, a precursor to PayPal, recently got into hot water when he accused a British man involved in the mission to rescue a Thai boys' soccer team trapped in a cave of being a pedophile.
The executive called Vernon Unsworth a “pedo guy” on Twitter after the cave diver called his idea to save the trapped boys with a miniature submarine a “PR stunt.” Musk subsequently apologized, but has sunk further into the controversy, having made two more attacks on the cave explorer.
He most recently called Unsworth a “child rapist.” The Briton is preparing a civil complaint for libel against Musk, his attorney said.
Tesla shares fall
The news may be of interest to shareholders, who recently took the company's stock price through a roller-coaster ride in August after Musk said he wanted to take Tesla private — only to then row back on that position.
Musk insisted he was not on weed at the time during an extensive interview with The New York Times. The executive shocked investors when he said he was considering taking the firm off the stock market at $420-a-share — 420 being a popular code term for cannabis.
“It seemed like better karma at $420 than at $419,” he told the Times. “But I was not on weed, to be clear. Weed is not helpful for productivity. There's a reason for the word 'stoned.' You just sit there like a stone on weed.”
Traders are concerned the company may still need a capital injection to help with its cash burn problems.
Tesla shares were down 1.2 percent Friday in premarket trade.
VW faces about $10.7 billion investor suit over dieselgate scandal
FRANKFURT (Reuters) – Volkswagen faces a trial next week as investors seek 9.2 billion euros ($10.7 billion) in compensation arguing that the carmaker should have informed shareholders about a diesel pollution scandal before regulators did in September 2015. FILE PHOTO: New Volkswagen cars are seen at the Berlin Brandenburg international airport Willy Brandt in Schoenefeld,… Continue reading VW faces about $10.7 billion investor suit over dieselgate scandal
Elliott reignites bid to force Hyundai restructuring
South Korean industrial giant rejects US hedge fund’s demand to form special committee Go to Source
How Ford is tackling its restructuring
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Elliott demands fresh revamp at Hyundai Motor Group
SEOUL (Reuters) – U.S. activist hedge fund Elliott Management has renewed its pressure on Hyundai Motor Group with a fresh restructuring proposal after forcing the South Korean conglomerate to abandon its own reform plan in May. FILE PHOTO: A car dealer stands in front of the logo of Hyundai Motor at its dealership in Seoul,… Continue reading Elliott demands fresh revamp at Hyundai Motor Group
Wingly is carpooling for private planes
Don’t call Wingly the “Uber of the Sky” — Wingly co-fonder Emeric de Waziers would like to nip that little misinterpretation in the bud as the French startup looks to expand into the U.S. If anything, the startup’s mission is more akin to carpooling for small aircrafts, helping pilots fill up empty seats in small… Continue reading Wingly is carpooling for private planes
Tesla CTO JB Straubel has a stealthy recycling start-up and it’s expanding into Nevada
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JB Straubel, Tesla Motors chief technical officer.
Elon Musk isn't the only Tesla executive with a start-up on the side.
Tesla CTO Jeffrey B. Straubel, known as JB, recently registered Redwood Materials — his stealthy recycling venture — to do business in the state of Nevada, CNBC has learned from a filing.
Redwood Materials' chief financial officer, Andrew Stevenson, also posted a job opening for a mechanical engineer to work at the recycling venture in Northern Nevada a week ago on LinkedIn. Stevenson worked at Tesla for about 3 years until June, in a special projects office of the CTO.
At Tesla, Straubel spends most of his time at the Gigafactory 1 in Sparks, Nevada, which churns out batteries for electric vehicles and solar energy systems. He has overseen battery tech, but also power electronics, motors, software, firmware and controls, among other responsibilities at Tesla.
Redwood Materials was established in Redwood City, California, in 2017, near Tesla's headquarters in Palo Alto.
It's not clear how Redwood Materials may be working with Tesla, if it is at all. But Tesla seems to need a little help with its waste management in general.
Tesla's Gigafactory and its main auto plant in Fremont, California, typically generate large amounts of scrap, cardboard and waste from construction, according to multiple former employees. In late June, a fire broke out at Tesla's Fremont factory, where cardboard was being prepared to go off to a recycling center.
At an annual shareholder's meeting for Tesla in June, Straubel answered a question from a Twitter user about the company's approach to battery waste. He said:
Tesla will absolutely recycle, and we do recycle, all of our spent cells, modules and battery packs. So the discussion about is this waste ending up in landfills is not correct. We would not do that, these are valuable materials. In addition, it's just the right thing to do.
We have current partner companies– on every major continent where we have cars operating– that we work with to do this today. And in addition, we're developing internally more processes, and we're doing R&D on how we can improve this recycling process to get more of the active materials back. Ultimately what we want is a closed loop, right, at the Gigafactories that reuses the same, recycled materials.
Straubel has also repeatedly spoken about recycling minerals, which are used in electric vehicle batteries and motors, and can be both costly and subject to shifting tariffs.
CNBC reached out to Redwood Materials and Tesla, but neither immediately responded to requests for further information.
Tesla CTO: Not just a 'feel good sustainability project,' this means saving money
7:52 PM ET Wed, 8 March 2017 | 06:02
UPDATE 4-Ford recalls 2 million trucks over seat belt fire risk
WASHINGTON (Reuters) – Ford Motor Co (F.N) said on Thursday it would recall 2 million F-150 pickup trucks in North America because of a seat belt problem that could generate excessive sparks and cause fires. The second-largest U.S. automaker said it received 17 reports of smoke or fire in the United States and six in… Continue reading UPDATE 4-Ford recalls 2 million trucks over seat belt fire risk