OneSpaWorld Holdings (NASDAQ:OSW) Stock, Quote.Headers.trade-ideas

OneSpaWorld Holdings

OneSpaWorld Holdings Ltd is an operator of health and wellness centers onboard cruise ships and an operator of health and wellness centers at destination resorts worldwide. It offers a suite of premium health, fitness, beauty, and wellness services and products. The services provided by the company include body, salon, and skin care services and products, fitness classes and personal fitness training and pain management, detoxifying programs, and comprehensive body composition analyses among others. The company has only one single segment of Maritime and Destination Resorts.

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Royal Caribbean Cruises Ltd. (NYSE: RCL) is scheduled to release second-quarter 2024 results on Jul 25, 2024. The company is likely to have benefited from positive customer sentiments bolstered by resilient labor markets, stabilizing inflation and a narrowed gap to land-based vacations.

Royal Caribbean Pre-Q2 Earnings Analysis: Should You Buy?

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CROX

Inflation is finally showing signs of easing. The personal consumption expenditure (PCE) price index, the Fed&#39;s preferred inflation gauge, remained unchanged month over month in May after increasing 0.3% in April. 

Cooling Inflation Raises Rate Cut Hopes: 4 Solid Stocks to Buy

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Loop Capital analyst Laura Champine upgraded shares of OneSpaWorld Holdings Limited (NASDAQ: OSW) to a 

OneSpaWorld&#39;s Revenue Growth Disconnected From Stock Performance: A Golden Opportunity For Investors, Suggests Analyst

OneSpaWorld Holdings Limited - Common Shares

OneSpaWorld Holdings Ltd

OneSpaWorld Holdings Ltd Warrants (19/03/2024)

Kevin O'Leary, aka &#8220;Mr. Wonderful&#8221; from Shark Tank, is making a bold case for automation – arguing it streamlines operations, boosts wages and creates jobs. In a recent Instagram post and a Fox Business interview, O'Leary <a href="https://www.benzinga.com/markets/24/10/41215066/kevin-oleary-says-port-automation-wont-hurt-wages">doubled down on his belief </a>that automation, especially at ports, leads to higher productivity and better pay for workers.&nbsp;
O'Leary points to the current inefficiencies plaguing East Coast ports, particularly compared to their international counterparts in places like Singapore. He highlights how ports in Asia are light years ahead in terms of modernization and automation, which gives them a serious productivity edge. And it&#8217;s not just a minor difference, according to O&#8217;Leary – it's a productivity gap leaving the U.S. behind.
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"There's no evidence that automation hurts wages," O'Leary said on Instagram, explaining that when ports integrate advanced systems, it leads to better overall productivity. The result? Jobs that not only stay but also pay more. Employees trained to operate these robotic systems are in demand and can earn more as they gain new skills.
O'Leary's comments are particularly relevant as the International Longshoremen's Association (ILA) just temporarily called off a major dockworkers' strike that had shut Down East and Gulf Coast ports, halting billions in trade. The strike is <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41187855/port-strike-ends-after-3-days-retaliers-politicians-breathe-a-sigh-of-relief">on pause until mid-January,</a> as negotiations continue. But O'Leary points to this situation as evidence of how outdated U.S. port infrastructure is compared to other countries.
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"If you look at ports on the East Coast and compare them to Singapore, we're losing out big time," O&#8217;Leary said on Varney &amp; Co. He argues that these inefficiencies make U.S. ports less competitive globally, hurting everyone from businesses to consumers in the long run.
One of the biggest concerns during the strike was how automation could affect dockworkers. O&#8217;Leary doesn&#8217;t see this as a problem. He claims that studies on port automation have consistently shown no adverse impact on wages in the U.S., both on the East and West Coasts. He says the opposite is true: automation can increase wages for workers who learn to operate these new, sophisticated systems. He's optimistic that automation will create a wave of new jobs requiring higher skill levels, which means better pay for those workers who adapt.
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The reality of automation isn't as straightforward as Kevin O'Leary suggests. While it might reduce errors and cut costs, the overall impact on productivity is more complicated. A 2018 McKinsey report found that automated ports perform worse than traditional ones. McKinsey says automated ports "are generally less productive than their conventional counterparts." The report highlights that the massive investments in automation don't always yield the returns companies expect, especially without careful planning and management.
So, while automation has some upsides, it's not a magic fix for boosting efficiency or profits. It requires time, strategy and capital investment.
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The dockworkers&#8217; strike<a href="https://www.benzinga.com/news/24/10/41177060/port-strike-ends-workers-return-to-work-friday"> ended last week</a> after the U.S. Maritime Alliance (USMX) offered a massive 62% pay increase. While the strike is paused, the issue of automation in ports remains a hot topic. O&#8217;Leary believes that workers who embrace automation will come out on top as ports modernize.
His stance might seem controversial, especially to those who fear job losses from automation, but O'Leary is convinced that this is the way forward for productivity and growth. "We need to let automation take its course," O&#8217;Leary said, emphasizing that it's a tool for driving the economy forward, not a threat to workers.
For O&#8217;Leary, the future is clear: automation isn't going away and those who can adapt will find themselves in high demand, with bigger paychecks to match.
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Startups

Here's Why Kevin O'Leary Says Automation Leads To More Productivity, Higher Wages And More Jobs

In December 2023, billionaire entrepreneur Mark Cuban sold a majority stake in the Dallas Mavericks, a National Basketball Association team he acquired in 2000 after making several <a href="https://www.benzinga.com/general/education/24/10/41234173/how-mark-cuban-turned-broadcast-com-into-5-7b-sale-we-were-the-youtube-of-our-day">successful business sales.</a>
In a recent podcast appearance, Cuban discussed the team's success and why it was time to move on.
Dallas Mavericks Purchase, Song Memory: Cuban, who has had an entrepreneurial spirit <a href="https://www.benzinga.com/general/education/24/10/41222013/it-wasnt-anything-horrific-how-12-year-old-mark-cuban-developed-tough-skin-to-reach-billionaire">from a young age, </a>recalled deciding to approach the Mavericks&#8217; owner about buying the team after noticing that the season&#8217;s home opener wasn't a sellout.
"We're undefeated. We should have a good team. And I'm like, I can do better than this," Cuban <a href="https://link.chtbl.com/X2XxhkGp?sid=benzinga">recalled </a>on the "Life in Seven Songs" podcast.
Cuban said he had a deal done in less than a month and was the owner a couple of months later.
The billionaire paid $285 million for the team back in 2000.
Asked to pick a song to sum up his time with the Mavericks for the podcast, which sees celebrities pick songs for moments in their life, Cuban selected "Eminence Front," a song from The Who.
"Back in 2001, we moved to a new arena and the head of marketing was a guy named Matt Fitzgerald, who was a good friend of mine, basketball buddy, who unfortunately died of ALS a couple of years ago. And he came up with this song."
Cuban said the idea of using "Eminence Front" was similar to what the Chicago Bulls did during the Michael Jordan era, using the same music and making it instantly recognizable to fans.
Fitzgerald suggested The Who song, and Cuban said he promised the former Mavericks employee when he was dying that as long as he was involved, it "would always be the opening song for the match."
Cuban said Mavericks fans immediately think of games when they hear the song.
"While the beginning of this song is playing, there's a hype video that's going on on the Jumbotron that everybody gets to see. And so it's highlights of the last game. It's introductions to our starting lineup."
<ul>
<li>You may not be a billionaire like Mark Cuban, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/general/entertainment/24/10/41187322/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">check out five stocks flying under the radar that deserve your attention.</a></li>
</ul>
Moving Past the Mavericks: Cuban recently<a href="https://www.benzinga.com/general/sports/23/12/36402593/mark-cubans-slam-dunk-deal-mavericks-majority-stake-sale-clears-the-net-whats-the-next-play"> sold a majority stake</a> in the Mavericks to casino magnate Miriam Adelson, with the team valued at $3.5 billion.
Cuban remains involved with the team as an alternate governor and maintains control of basketball operations for the Mavericks while holding a 27% ownership stake. The billionaire remains hopeful that bringing Adelson in can help with a potential casino and real estate projects if the team builds a new arena in the future.
Cuban acknowledges his children, who are 15, 18, and 21, as a key reason to step back in his commitment to the Mavericks.
"There's a lot of pressure for them. And running a professional sports team isn't always good," Cuban said.
The billionaire said when the team is winning, it's great, and everybody loves him.
"But when you're having a bad season, just, you know, your kids are on social media. I just don't want them to put up with all that abuse and everything. And, you know, that was the primary reason."
During the interview, Cuban admitted to life being much different for his kids than his childhood was.
"You don't have that unique privacy. You know, the ability to just be unnoticed that I had, and that's hard."
Cuban said he doesn't feel sorry for his kids in this regard, but knows that it hasn't always been easy for them.
"I give them a ton of credit. They're good kids. They've got big hearts. They're smart. They're respectful."
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</ul>
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Education

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Why Mark Cuban Stepped Back From Mavericks Ownership: His Kids Don't Need 'All That Abuse'

Nvidia's stock value has ballooned by an incredible $400 billion in just five days, causing quite the stir in tech and investment circles.
Now at a staggering $3.26 trillion, as per Business Insider Africa, Nvidia has soared past many competitors, though it remains behind Apple and Microsoft in terms of global market capitalization. That $400 billion increase alone surpasses the entire market value of Costco, which is roughly $250 billion, even though the retail giant posted an impressive $254 billion in revenue last year.
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The massive surge is largely thanks to Nvidia's AI-focused chips. The newly launched Blackwell chip, designed specifically for artificial intelligence, has been dubbed a game-changer. Nvidia CEO <a href="https://www.benzinga.com/startups/24/09/40692021/nvidia-ceo-jensen-huang-will-push-employees-to-their-limits-but-is-reluctant-to-let-them-go-ill-tort">Jensen Huang</a> called it &#8220;the engine to power this new industrial revolution.&#8221; Major tech players like Microsoft, Oracle and Google seem to be on the same page, pouring their support into Nvidia's technology and betting on its future impact.
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In 2024 alone, Nvidia's stock jumped by 170% and since early 2023, its growth has been nothing short of explosive – up 800%, as per Reuters. The financial numbers are jaw-dropping. While Costco generated $7.4 billion in net income last year, Nvidia boasted a whopping $30 billion in profit from $61 billion in revenue. This speaks volumes about how profitable the tech space has become, especially compared to traditional powerhouses like <a href="https://www.benzinga.com/startups/24/09/40689987/costco-members-spill-shocking-tales-of-wild-product-returns-opened-food-and-years-old-furniture-here">Costco</a>.
Jensen Huang, now worth $106 billion, is at the heart of Nvidia's extraordinary run. With his focus on AI chip development, Nvidia has cemented itself as a key player in the ongoing AI revolution.
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Beth Kindig from I/O Fund speculated that Nvidia could hit a valuation of $10 trillion by 2030 thanks to its then-anticipated Blackwell GPU chip, supported by its CUDA software platform.&nbsp;
The ripple effects of Nvidia's success are hard to miss. The &#8220;Magnificent Seven&#8221; tech giants – Meta, Alphabet, Apple, among others – are all riding the AI wave, with Nvidia's technology fueling their stock's demand by 1%. AI integration is becoming a major part of daily life and Nvidia's chips are a crucial piece of that puzzle, pushing the tech market to even greater heights.
But not everyone is cheering. Some experts have voiced concerns about the growing reliance on Nvidia in the chip industry. The worry is that if Nvidia becomes too dominant, it could lead to supply bottlenecks and increased prices, ultimately hurting competition.
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Personal Finance

Nvidia's Value Balloons By $400 Billion In Only 5 Days – Now Exceeds The Entire Market Cap Of Costco

Jamie Dimon, CEO of JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), issued a stark warning about challenges that <a href="https://www.benzinga.com/startups/24/10/41122659/jamie-dimon-slams-early-career-private-equity-moves-saying-it-puts-us-in-a-bad-position">could affect the U.S. economy</a>.
What Happened: In the bank&#8217;s third-quarter earnings release, Dimon highlighted several critical global risks that could disrupt both economic and geopolitical stability.
Dimon, who heads the nation&#8217;s largest bank, noted concerns around slowing inflation, fiscal deficits, and global trade disruptions, and warned that geopolitical instability could have profound long-term consequences, Fox Business <a href="https://www.foxbusiness.com/economy/jamie-dimon-warns-critical-issues-could-affect-us-economy">reports</a>. He noted the importance of preparing for unpredictable outcomes.
Dimon also pointed to the need for a robust approach to handling infrastructure needs and warned that remilitarization efforts globally could increase instability.
&#8220;We have been closely monitoring the geopolitical situation for some time, and recent events show that conditions are treacherous and getting worse,&#8221; Dimon said in the news release.
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&#8220;There is significant human suffering, and the outcome of these situations could have far-reaching effects on both short-term economic outcomes and more importantly on the course of history,&#8221; he added. 
While acknowledging the resilience of the U.S. economy, Dimon – who has been floated as a possible future Treasury secretary or Federal Reserve chair – said that the U.S. must get its fiscal house in order.
&#8220;Additionally, while&nbsp;inflation is slowing&nbsp;and the U.S. economy remains resilient, several critical issues remain, including large fiscal deficits, infrastructure needs, restructuring of trade and remilitarization of the world,&#8217; Dimon said. 
&#8220;While we hope for the best, these events and the prevailing uncertainty demonstrate why we must be prepared for any environment,&#8221; he added. 
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Jamie Dimon Warns Of Global Risks To Economy: 'Treacherous And Getting Worse'

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
The S&amp;P 500 and Dow Jones Industrial Average reached new <a href="https://www.benzinga.com/news/earnings/24/10/41298806/wall-street-marks-new-record-highs-on-strong-start-to-earnings-season-investors-downplay-inflation-">record highs this week</a>, boosted by a robust start to the third-quarter earnings season. The S&amp;P 500 and Nasdaq each gained 1.1%, while the Dow rose by 1.2%, marking the fifth consecutive week of gains for these major indexes. 
Despite a higher-than-expected inflation report for both consumers and producers in September, interest rate expectations largely stayed unchanged, with traders still anticipating a rate cut in November. 
Meanwhile, Chinese stocks posted their worst weekly performance of the year, as investor sentiment was dampened by the lack of expected stimulus measures, despite a strong rally in previous weeks.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
<a href="https://www.benzinga.com/markets/equities/24/10/41244462/palantirs-shyam-sankar-says-ai-is-experiential-and-if-you-pay-consultants-to-help-you-think-abou">&#8220;Palantir&#8217;s Shyam Sankar Says AI Is &#8216;Experiential,&#8217; And If You Pay Consultants To Help You Think About How To Deploy It, You&#8217;re Just Lighting Money On Fire,&#8221;</a> by <a href="https://www.benzinga.com/author/shanthi-rexaline">Shanthi Rexaline</a>, details how Palantir Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) CTO Shyam Sankar believes that companies must embrace hands-on AI implementation instead of relying on consultants, emphasizing the company&#8217;s ability to quickly turn AI prototypes into tangible business value.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41207040/dogecoin-killer-shiba-inu-up-39-over-the-past-30-days-but-that-will-accelerate-says-bullis">&#8220;&#8216;Dogecoin Killer&#8217; Shiba Inu Up 39% Over The Past 30 Days But That &#8216;Will Accelerate,&#8217; Says Bullish Trader&#8221;</a>, by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>, reports that Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) has surged 39% in the last month amid rising burn rates, with traders predicting further gains driven by bullish chart patterns and increased community activity.
<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41279473/josh-brown-flags-monster-call-buying-in-nvidia-up-to-190-strike-this-is-not-retail-money">&#8220;Josh Brown Flags &#8216;Monster&#8217; Call Buying In Nvidia Up To $190 Strike: &#8216;This Is Not Retail Money'&#8221;</a> by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, reports that Josh Brown highlighted significant call-buying in Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), suggesting institutional investors expect the stock to rise above $190 by March 2025, far above its current trading level around $135.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/markets/equities/24/10/41265296/teslas-future-valuation-analyst-pierre-ferragu-unveils-scenarios-ranging-from-1-4-to-4-7-trillio">Tesla&#8217;s Future Valuation: Analyst Pierre Ferragu Unveils Scenarios Ranging From $1.4 To $4.7 Trillion Based On FSD, Robotaxi Success</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41214754/microstrategy-analyst-projects-64-upside-to-stock-based-on-bitcoin-acquisition-stra">MicroStrategy Analyst Projects 64% Upside To Stock Based On Bitcoin Acquisition Strategy</a>
<a href="https://www.benzinga.com/markets/cannabis/24/10/41233018/exclusive-ross-gerber-sees-tsunami-of-money-pouring-into-cannabis-companies-upon-federal-legaliz">EXCLUSIVE: Ross Gerber Sees &#8216;Tsunami Of Money&#8217; Pouring Into Cannabis Companies Upon Federal Legalization, Says Cannabis Is One Of &#8216;Biggest&#8217; Opportunities Beyond AI</a>
The Bears
<a href="https://www.benzinga.com/markets/equities/24/10/41244481/google-cries-foul-as-doj-moves-to-break-up-search-giant-calls-recommendations-radical-as-antitru">&#8220;Google Cries Foul As DOJ Moves To Break Up Search Giant, Calls Recommendations &#8216;Radical&#8217; As Antitrust Battle Intensifies,&#8221;</a> by <a href="https://www.benzinga.com/author/kaustubh-bagalkote">Kaustubh Bagalkote</a>, reports that Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) faces a potential breakup as the DOJ considers measures to curb its search dominance, which Google criticizes as extreme and potentially harmful to market competition.
<a href="https://www.benzinga.com/news/24/10/41223011/rivians-production-guidance-cut-spurred-by-miscommunication-with-atlanta-based-supplier-resulting-in">&#8220;Rivian&#8217;s Production Guidance Cut Spurred By Miscommunication With Atlanta-Based Supplier, Resulting In Shortage Of Critical Copper Windings For Its Motor: Report&#8221;</a>, by <a href="https://www.benzinga.com/author/anan-ashraf">Anan Ashraf</a>, reveals that Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) lowered its annual production forecast by up to 18% after a miscommunication with Essex Furukawa led to a shortage of essential copper windings, impacting its EV output.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41227136/chinese-stocks-plunge-as-stimulus-hopes-fade-hong-kong-posts-worst-daily-decline-si">&#8220;Chinese Stocks Plunge As Stimulus Hopes Fade: Hong Kong Posts Worst Daily Decline Since October 2008&#8221;</a>, by <a href="https://www.benzinga.com/author/piero-cingari">Piero Cingari</a>, reports that Chinese stocks, including Alibaba Group Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) and Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), tumbled as investors reacted to the lack of aggressive fiscal stimulus, causing the Hang Seng Index to experience its steepest single-day drop since 2008.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41234873/amazon-stock-downgrade-by-wells-fargo-a-bearish-signal-on-growth-concerns">Amazon Stock Downgrade By Wells Fargo: A Bearish Signal On Growth Concerns</a>
<a href="https://www.benzinga.com/general/entertainment/24/10/41229099/disney-faces-150m-200m-blow-from-hurricane-milton-attendance-set-to-drop-6-says-goldman-sac">Disney Faces $150M-$200M Blow From Hurricane Milton, Attendance Set To Drop 6%, Says Goldman Sachs</a>
<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41278873/gary-gensler-doubts-cryptocurrency-future-says-leading-figures-are-either-in-jail-or-await">Gary Gensler Doubts Cryptocurrency Future, Says Leading Figures Are Either In Jail Or Awaiting Extradition</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
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Benzinga Bulls And Bears: Nvidia, Rivian, Alphabet, Palantir — And Crypto Trader Says Shiba Inu 'Will Accelerate'

Over the past several years, Europe has become more open-minded about medical and recreational marijuana. Here are some of the latest cannabis developments from Malta, Germany, and the United Kingdom.
<h2 class="wp-block-heading">Malta: Officials Will Confiscate HHC Products</h2>
Malta officials confirmed recently in a press conference that police and officials from the Superintendence of Public Health will start confiscating HHC products in the coming days, <a href="https://timesofmalta.com/article/officials-start-confiscating-hhc-products-shops.1099129">writes</a> Times of Malta.
The <a href="https://www.benzinga.com/markets/cannabis/24/10/41210702/malta-considers-safe-cannabis-consumption-places-new-legal-forms-of-marijuana-and-bans-hhc-produ">ban on HHC products</a> was recently confirmed by Joey Reno Vella,the CEO of Authority for the Responsible Use of Cannabis (ARUC). Reforms Junior Minister Rebecca Buttigieg said that &#8220;the ban means the shops must immediately cease importing HHC products."
HHC is a&nbsp;semi-synthetic cannabinoid&nbsp;and a&nbsp;<a href="https://www.benzinga.com/markets/cannabis/21/11/24103073/what-is-hhc-and-does-it-get-you-high" target="_blank" rel="noreferrer noopener">hydrogenated form of THC</a>. To bypass the law and offer psychoactive products to buyers some chemists are using legal THC from hemp. Sellers of HHC products claim it provides euphoric sensations, but also mental and physical relaxation. HHC can be found in the form of dried flowers, resins, oils and vaping concentrates.
&#8220;I&#8217;m not usually keen on bans as I believe in the individual&#8217;s freedom to choose, but in this case, expert advice made it clear that banning the products was the safest option for all. It was dangerous to allow them to be sold on the market,&#8221; Buttigieg added.
ARUC-licensed cannabis associations were never permitted to manufacture or sell any HHC-infused products or market them, she said.
Vella highlighted that these products were "being sold in a manipulating way as a legal alternative to cannabis. It was being sold as a dried flower sprayed with HHC, as pre-rolled joints, vapes, oils and &#8211; worst of all &#8211; edible products, usually sweets.&#8221;
He added that the products were not tested and potentially contained harmful substances.
Buttigieg pointed out that the the sale of HHC products was affecting the goal of cannabis reform, which was to offer regulated and safe products to cannabis users.
<h2 class="wp-block-heading">Germany: First Cultivation License In Soest District Approved</h2>
The first cultivation license in the Soest district (in the middle of North Rhine-Westphalia) was recently granted to "GrüneWiese" cannabis association from Werl. A total of three out of 18 applications in the Arnsberg administrative district have been approved so far. The remaining 14 are being assessed, <a href="https://born2invest.com/articles/first-cannabis-association-licensed-werl/">writes</a> Born 2 Invest.
"A huge weight has been lifted from our shoulders," said Phillip Dülberg is a board member and is also in charge of cultivation. Members invested a lot of money and time in the project since the association was founded in April. It was established with nine founding member, but now there are around 50, with the eldest member having 77 years.
"Our aim is to get to know each member personally," said Dülberg, hinting that the association will not accept people with a drug addiction problem for example. Moreover, the association is working on prevention of the misuse of cannabis and has appointed and trained a prevention officer, in addition to a doctor who is also on board.
GrüneWiese's cultivation area in the first expansion phase will be a maximum of 200 square meters (2152.78 square foot). The first flower are expected to be harvested in early 2025.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41207892/germanys-most-populous-state-approves-first-cannabis-cultivation-application">Germany&#8217;s Most Populous State Approves First Cannabis Cultivation Application</a>
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<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
<h2 class="wp-block-heading">The United Kingdom: Number Or Private MMJ Prescriptions Doubles Each Year</h2>
The number of privately prescribed medical marijuana products has doubled each year since 2021, according to data from the NHS Business Services Authority (NHSBSA). More precisely, private prescriptions for unlicensed cannabis-based medicines grew from 6,137 in Sep. 2021 to 22,431 in Sep. 2023, <a href="https://businessofcannabis.com/uk-private-medical-cannabis-market-sees-exponential-growth-doubling-yearly-since-2021/">writes</a> The Business of Cannabis.
The numbers suggest a compound annual growth rate of 84%.
While it is possible to access medical marijuana through the National Health Service (NHS), this rarely occurs and only in severe cases of epilepsy, chemotherapy-caused nausea or certain cases of muscle stiffness associated with multiple sclerosis (MS). Since medical marijuana is not widely available via the NHS, many families struggle to <a href="https://www.benzinga.com/markets/cannabis/23/10/35388605/europes-high-uk-parents-need-nhs-help-for-daughters-seizures-thc-mmj-flowers-in-switzerland-more" target="_blank" rel="noreferrer noopener">afford life-saving medicine</a> for their children.
Additionally, CLEAR Cannabis Law Reform issued the third edition of its "How to Regulate Cannabis in Britain" report, calling for the establishment of a &#8220;Cannabis Inspectorate&#8221; to oversee the cultivation, distribution, and sale of cannabis.
A proposed budget is £200 million ($261.36 million), and the report suggests that legalization and taxation of cannabis at £1 per gram could generate between £3.3 billion and £9.5 billion in annual revenue for the Treasury. The legalization could also save the criminal justice system up to £646 million annually, although compliance costs are estimated between £157 million and £317 million.
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</ul>
Photo: Courtesy of Bukhta Yurii via Shutterstock

Cannabis

Eurozone

Malta Officials To Confiscate HHC Products, UK's Medical Marijuana Private Sector Booms, Germany Advances Licensing

<a href="https://www.benzinga.com/topic/colombia-cannabis">Colombia</a> is nearing the establishment of a regulatory framework for psychedelics as part of its broader drug policy reform efforts. Following years of violence driven by powerful cartels and the U.S.-led <a href="https://www.benzinga.com/topic/war-on-drugs">War on Drugs</a>, the country seeks a new direction, shifting from prohibition to policies centered on social justice, crime reduction and environmental protection. According to a <a href="https://www.talkingdrugs.org/from-demons-to-medicine-tracing-the-journey-of-colombias-psychedelic-regulation/?">report</a> from Double Blind, this policy evolution aims to rectify the long-lasting effects of European colonialism and the destructive consequences of anti-drug campaigns.
<h3 class="wp-block-heading">A Shift From Prohibition To Social Justice</h3>
In 2022, Colombia's leftist president Gustavo Petro boldly <a href="https://www.benzinga.com/markets/cannabis/22/09/28963475/i-come-from-a-country-of-bloodied-beauty-gustavo-petro-demands-un-to-end-the-war-on-drugs">declared</a> that the War on Drugs had amounted to "genocide," claiming it had cost the lives of "a million Latin Americans." In response, his administration launched the <a href="https://www.minjusticia.gov.co/programas-co/ODC/Paginas/Politica-Nacional-Drogas-2023-2033.aspx">2023-2033 National Drug Policy Plan,</a> which outlines strategies to tackle drug trafficking while promoting public education and destigmatizing drug use. "The National Drug Policy will promote an informed understanding of the drug phenomenon, leaving behind stigmatizing narratives," noted Colombia's Ministry of Justice in its official statement.
Colombia is uniquely positioned in the global psychedelic renaissance due to its rich biodiversity. Sacred plants like yagé, also known as <a href="https://www.benzinga.com/topic/ayahuasca">ayahuasca</a>, and yopo have long been part of the country's cultural heritage, despite being demonized by European colonizers in the 15th century. Yet, as <a href="https://www.benzinga.com/markets/cannabis/24/09/40778282/psychedelics-are-here-to-stay-and-they-belong-to-everyone-says-mycopreneurs-dennis-walker">the world embraces psychedelics</a>, Colombia grapples with balancing preservation of these traditions and addressing issues like cultural appropriation.
<h3 class="wp-block-heading">Lessons From Colombia's Troubled Cannabis Industry</h3>
Colombia's recent experience with legal cannabis also provides lessons for its psychedelic regulatory framework. After legalizing <a href="https://www.benzinga.com/markets/cannabis/20/09/17360353/3-years-into-medical-cannabis-colombia-looks-to-legalize-adult-use">medical marijuana in 2016</a>, the country saw an influx of foreign investment, but regulatory and political challenges stifled the industry's growth. This cautionary tale underscores the need for careful planning as Colombia navigates psychedelics regulation to avoid replicating past mistakes.
As <a href="https://www.benzinga.com/markets/cannabis/22/03/26127079/the-best-cities-for-a-psychedelic-trip-vol-1">psychedelic tourism</a> grows, advocates are calling for a regulatory framework that not only protects Colombia's environment but also ensures Indigenous communities, long marginalized by drug policy, are at the center of future reforms.
Cover image made with AI

Psychedelics

Colombia On The Brink Of Psychedelic Regulation Amid Drug Policy Reforms

Ben Horowitz, co-founder of VC giant Andreessen Horowitz (A16z), made a surprising pivot in his political donations. In an email to his staff, Horowitz revealed that he and his wife Felicia will make a &#8220;significant donation&#8221; to Kamala Harris's 2024 presidential campaign. This news comes just a few months after Horowitz publicly supported Donald Trump for his pro-tech stance.
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The email, which was first reported by Axios and later confirmed by Business Insider, raised eyebrows given Horowitz&#8217;s prior support for Trump. In July, Horowitz said that Trump was the right choice for the <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41064804/is-kamala-harris-headed-for-a-crypto-reset-advocates-see-encouraging-signs-but-heres-where">future of emerging tech </a>and startups. Now, just months later, he&#8217;s backing Harris, highlighting a notable shift in his political approach.
Horowitz and his wife have known Vice President Harris for over a decade. He mentioned their long-standing friendship in the email, stating, &#8220;She has been a great friend to both of us during that time." Horowitz added that Harris helped with several events early on at his home while building A16z's Cultural Leadership Fund.
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Despite this donation, Horowitz stopped short of endorsing Harris outright. He acknowledged that while he has had conversations with Harris and her team, they have not yet stated their tech policies, which leaves A16z&#8217;s official stance on tech policy unchanged. "I am very hopeful that the Harris administration will be much better," Horowitz wrote. "But they have not yet stated their intentions."
The venture capitalist's email comes amid a presidential race that's heating up, especially in the tech sector. While Harris has not formally outlined her tech policies, Horowitz's donation signals confidence in her potential leadership. However, he still awaits more concrete details on how her administration would approach key issues <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41168731/kamala-harris-is-courting-crypto-investors-heres-how-shes-taking-a-friendlier-approach-tha">like AI, blockchain and cryptocurrency.</a>
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Horowitz's backing is major in a race where tech policies are critical. His company, A16z, has been a big player in backing startups and emerging technologies. His previous support for Trump centered on believing that Trump's policies would encourage innovation in sectors like AI and blockchain. Now, Horowitz is hedging his bets on Harris, likely hoping for a tech-friendly administration.
This move also illustrates how the tech sector could play a big role in the upcoming election. Tech investors like Horowitz are watching closely, especially after the Biden administration's <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41224030/grant-cardones-thinks-kamala-harris-misses-the-mark-on-financial-literacy-if-she-is-electe">stricter policies</a> on blockchain and AI. Horowitz earlier criticized them as &#8220;exceptionally destructive.&#8221;
With the 2024 election shaping up to be one of the closest in recent history, Horowitz's pivot could indicate a broader shift in the tech world's political allegiances. It's clear that while Horowitz has shown his support for Harris, he's still waiting for her to reveal her tech agenda. Until then, it seems the VC titan is playing it safe, keeping his options open while contributing to one of the most important political races of the century.
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VC Titan Ben Horowitz Switches Gears – 'Making A Significant Donation' To Kamala Harris Campaign

Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO <a href="https://www.benzinga.com/topic/jensen-huang">Jensen Huang</a> recently made a big statement about the future of AI in the United States. Speaking at a Bipartisan Policy Center event, Huang <a href="https://www.youtube.com/live/doJDuLMnaWc">told</a> U.S. government groups, like the Department of Energy (DOE) and the Department of Defense (DOD), that they need to get serious about artificial intelligence. His main point? The U.S. shouldn't just be making rules about AI – it should be leading the way in making and using it. Huang wants the government to build an AI supercomputer as an important step to boost innovation.
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&#8220;The thing I recommend most for every employee at Nvidia, every company CEO I meet, every leader I meet, is to engage artificial intelligence,&#8221; said Huang. He believes that the DOE and DOD should not just be setting policies for AI, but actively participating in its advancement. &#8220;Don&#8217;t just be a governor of AI, be a practitioner of AI,&#8221; he stressed.
According to Huang, a powerful AI supercomputer would revolutionize science and engineering by enabling the creation of novel algorithms that would <a href="https://www.benzinga.com/startups/24/10/41209333/jensen-huang-on-china-sanctions-were-exporting-american-technology-which-is-really-terrific-for-the">increase American competitiveness abroad</a>. The AI supercomputer has the potential to help with anything from national security to scientific progress.
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<hr class="wp-block-separator has-alpha-channel-opacity" />
He explained that intelligence – both natural and artificial – is a critical resource that no country should outsource or limit. &#8220;No country in the world would say we should outsource our intelligence to anybody else. No country in the world would say we have an abundance of intelligence; let&#8217;s put a lid on this,&#8221; Huang pointed out.
In other words, the United States must continue to advance its AI capabilities if it wants to maintain its global leadership position. Huang also <a href="https://www.benzinga.com/news/24/10/41220759/nvidia-ceo-jensen-huang-once-spoke-about-the-importance-of-every-country-needing-a-sovereign-ai-but">discussed the idea of &#8220;sovereign AI,&#8221;</a> which he defines as guaranteeing that any nation maintains sovereignty over its own artificial intelligence, data, language and culture.
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Huang explained how AI can help people work better in many areas, like energy, health care and even policymaking. He said AI allows us to &#8220;be more productive, <a href="https://www.benzinga.com/news/24/04/38510989/nvidia-ceo-jensen-huang-predicts-ai-will-make-companies-hire-more-workers-with-higher-earnings-there">make more money and hire more people</a>.&#8221;
He dispelled concerns that AI will replace workers, saying that the true threat would come from someone using AI to replace a worker who doesn&#8217;t. AI is a tool that can make people&#8217;s work easier and those who can use it effectively will have a competitive advantage.
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<a href="https://www.benzinga.com/markets/equities/24/02/37258324/godfather-of-gpu-nvidias-jensen-huang-says-ai-factories-will-one-day-take-over-the-world">Huang also </a>discussed &#8220;AI factories,&#8221; or data centers that train AI models. He compared AI production to the Industrial Revolution, saying that just as previous factories needed energy to build products, AI factories will need energy to build intelligence.&nbsp;
He was very clear in saying that even though these AI factories will consume a lot of energy, they will be well worth it in the long run since they will provide new capabilities and efficiencies.
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Create New AI Algorithms To Advance Our Country' – Nvidia CEO Jensen Huang Urges DOE And DOD To Build An AI Supercomputer

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk is the world's richest person and has watched his wealth climb in 2024 despite the price of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41295072/tesla-robotaxi-day-event-more-fanfare-than-substance-8-analysts-on-cybercab-optimus">Tesla stock falling.</a>
A prediction market allows bettors to wager on if Musk will remain the world's richest man at the end of the year.
What Happened: The title of the world's richest man has changed hands several times over the last years, with Musk the <a href="https://www.benzinga.com/general/education/24/06/39547388/happy-birthday-elon-musk-53-facts-and-figures-about-tesla-spacex-ceo-on-his-53rd-birthday">most frequent billionaire</a> to top the list.
Musk <a href="https://www.benzinga.com/news/23/05/32660098/musk-back-on-top-tesla-and-twitter-ceo-overtakes-arnault-as-worlds-richest-person-but-just-barely">regained the title </a>last year from LVMH (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LVMUY#OTC">LVMUY</a>) CEO Bernard Arnault who had held the title. Musk also briefly <a href="https://www.benzinga.com/news/24/03/37473160/jeff-bezos-overtakes-elon-musk-reclaims-worlds-richest-person-title-as-wealth-soars-to-200b">lost the title </a>earlier this year to Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder Jeff Bezos.
The current richest people in the world list looks like this, as reported by <a href="https://www.bloomberg.com/billionaires/?sref=TBDibEcD">Bloomberg</a>, with their year-to-date change in parentheses:
<ol>
<li>Elon Musk: $255 billion (+$25.7 billion)</li>
<li>Jeff Bezos: $210 billion (+$32.7 billion)</li>
<li>Mark Zuckerberg: $207 billion (+$78.5 billion)</li>
<li>Bernard Arnault: $190 billion (-$17.3 billion)</li>
</ol>
The list also includes NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang at 11th with a wealth of $118 billion. Huang's year-to-date gain of $73.8 billion trails only Zuckerberg for best 2024 performance.
Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) co-founder and Chief Technology Officer Larry Ellison has also been listed in the top five richest people and <a href="https://www.benzinga.com/startups/24/09/40922366/oracles-larry-ellison-briefly-became-wealthier-than-jeff-bezos-heres-how-his-fortune-outpaced-amazon">even passed Bezos </a>for second place briefly last month.
A prediction market on Kalshi allows people to bet on who will be the richest person at the end of 2024. Here are the current <a href="https://kalshi.com/markets/wealthy/wealthiest-person-in-world">odds</a>:
<ul>
<li>Elon Musk: 82%</li>
<li>Larry Ellison: 11%</li>
<li>Mark Zuckerberg: 10%</li>
<li>Jeff Bezos: 6%</li>
<li>Bernard Arnault and Family: 2%</li>
<li>Jensen Huang: 2%</li>
</ul>
The odds favor Musk by a significant margin to retain the title, which comes with Tesla shares down 10% in 2024.
Significant gains for Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Oracle have helped move Zuckerberg and Ellison respectively up the list and likely are why their odds are higher than Bezos and other names that often come close to topping Musk.
You may not be a billionaire like Elon Musk, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/general/entertainment/24/10/41187322/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">check out five stocks flying under the radar that deserve your attention.</a>
Why It's Important: Kalshi is one of several prediction markets that have been allowing wagers on financial outcomes and also elections. The company recently <a href="https://www.benzinga.com/news/24/09/40760283/betting-on-u-s-elections-federal-judges-decision-greenlights-political-wagers">resumed accepting bets </a>on the 2024 election after a federal appeals court lifted a prior ban that came as the Commodity Futures Trading Commission (CFTC) contested the markets.
The Kalshi market for the world's richest person in the world has over $72,000 in wagers, which may pale in comparison to some election prediction markets.
A title of richest man in the world has been something often talked about and a title that for many marks accomplishment and success of the companies they founded or helped run.
The 10 richest people in the world at the end of 2023 <a href="https://www.benzinga.com/general/education/24/01/36454392/worlds-top-10-richest-people-gained-more-wealth-in-2023-than-walmarts-total-value-how-elon-musk">were worth $1.47 trillion</a>, adding $465.4 billion to their wealth, more than the valuation of retail giant Walmart at the time.
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</ul>

Management

AMZN

LVMUY

ORCL

TSLA

Elon Musk To End Year As Richest Man In The World? Prediction Market Says Yes, Higher Chance Than Larry Ellison Or Jensen Huang

A recent Benzinga poll pitted Warren Buffett, Elon Musk, and other renowned investors against each other, asking readers to decide who will go down as the most legendary investor in 100 years, as both billionaires have helped grow companies into market capitalizations <a href="https://www.benzinga.com/top-stories/24/08/40604676/warren-buffetts-berkshire-hathaway-breaks-1-trillion-poll-points-to-big-pharma-not-tech-as-next-cont">of $1 trillion.</a>
 What Happened: Elon Musk <a href="https://www.benzinga.com/general/education/24/06/39547388/happy-birthday-elon-musk-53-facts-and-figures-about-tesla-spacex-ceo-on-his-53rd-birthday">has helped transform</a> SpaceX and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) into two of the most valuable companies in the world, which might explain why investors continue to believe in his companies and future growth initiatives.
While Tesla may have reached a market capitalization of $1 trillion in less time than it took Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), Benzinga readers are more likely to recognize the steady returns of the conglomerate led by Warren Buffett in future years.
"In 100 years, who's going to be remembered as the most legendary investor?" Benzinga asked.
Here were the results:
<ul>
<li>Warren Buffett: 61%</li>
<li>Elon Musk: 30%</li>
<li>Jeff Bezos: 6%</li>
<li>Mark Cuban: 4%</li>
</ul>
The poll found that Buffett is most likely to be remembered as a legendary investor in the next 100 years by a two-to-one margin.
The results come as Tesla is one of the top-performing stocks of the last five years, up 1,218.9%. The stock is also up 1,337.8% over the previous 10 years.
Berkshire Hathaway stock has increased 121.1% over the last five years and 235.6% over the last 10 years.
While Berkshire Hathaway stock has trailed Tesla's performance in recent years, the company and Buffett have a<a href="https://www.benzinga.com/top-stories/24/08/40604676/warren-buffetts-berkshire-hathaway-breaks-1-trillion-poll-points-to-big-pharma-not-tech-as-next-cont" target="_blank" rel="noreferrer noopener">&nbsp;long history of beating&nbsp;</a>the S&amp;P 500.
Musk has also proven successful with his SpaceX company, valued at<a href="https://www.benzinga.com/news/24/06/39516906/elon-musks-spacex-set-for-record-210b-valuation-in-tender-offer-but-still-valued-less-than-tiktok-re" target="_blank" rel="noreferrer noopener"> a reported $210 billion</a> earlier this year.
You may not be a billionaire like Warren Buffett, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/general/entertainment/24/10/41187322/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">check out five stocks flying under the radar that deserve your attention.</a>
Why It's Important: While Buffett one the poll of who would be recognized as the most legendary investor, it was Musk who won a recent reader poll on who could turn <a href="https://www.benzinga.com/top-stories/24/10/41196469/musk-vs-buffett-which-investor-do-benzinga-readers-trust-to-turn-1-000-into-100-000-faster">$1,000 into $100,000 the fastest.</a>
Musk won the poll with 42% of the vote, beating out Buffett (25%), Cuban (19%) and Peter Thiel (15%).
The latest poll falls in line with the notion that investors may be likely to trust Musk with a small amount of money to invest, but when it comes to long term success, Buffett takes the crown.
A poll <a href="https://www.benzinga.com/top-stories/24/08/40423891/buffett-musk-wood-cuban-or-ackman-who-do-investors-trust-most-with-life-savings-poll-shows-it-isnt-e" target="_blank" rel="noreferrer noopener">conducted in August</a> saw Benzinga readers pick Buffett as the investor they would trust with their life savings, winning with 58% of the vote, while Musk and Cuban tied for second place, each receiving 11%.
Are you buying when the CEOs of the Magnificent 7 are selling?
<ul>
<li>Stay in the know with our Insider Trades page — <a href="https://www.benzinga.com/sec/insider-trades/">see when leaders like Mark Zuckerberg, Elon Musk, and Jensen Huang are offloading their own shares.</a></li>
</ul>
The study was conducted by Benzinga from Sept. 30 through Oct. 2, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 117 adults.

Exclusives

Buffett Vs. Musk: Benzinga Readers See An Overwhelming Favorite To Go Down As The Best Investor In 100 Years

Elon Musk&#8217;s social media platform, X, formerly Twitter, has dropped Unilever Plc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UL#NYSE">UL</a>) <a href="https://www.benzinga.com/news/24/08/40210334/elon-musk-led-x-joined-by-rumble-in-advertisement-antitrust-lawsuit-there-may-also-be-criminal-liabi">from a lawsuit that accused the company</a> of conspiring to boycott the platform, leading to a loss in revenue.
What Happened: On Friday, X dropped its claims against Unilever in the antitrust lawsuit filed in a federal court in Wichita Falls, Texas, in August.
X confirmed the agreement with Unilever and expressed satisfaction to &#8220;continue our partnership with them on the platform.&#8221;
However, the social media platform did not disclose&nbsp;the terms of the agreement but said that it is the &#8220;first part of the ecosystem-wide solution and we look forward to more resolution across the industry.&#8221;
See Also: <a href="https://www.benzinga.com/news/earnings/24/10/41298806/wall-street-marks-new-record-highs-on-strong-start-to-earnings-season-investors-downplay-inflation-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Wall Street Marks New Record Highs On Strong Start To Earnings Season, Investors Downplay Inflation Surge, Tesla Disappoints</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">X is pleased to have reached an agreement with Unilever and to continue our partnership with them on the platform. Today's news is the first part of the ecosystem-wide solution and we look forward to more resolution across the industry.
&mdash; News (@XNews) <a href="https://twitter.com/XNews/status/1844737849456771425?ref_src=twsrc%5Etfw">October 11, 2024</a></blockquote>
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Unilever stated that it had &#8220;reached&nbsp;an agreement with X, which&nbsp;has committed to meeting our&nbsp;responsibility standards to ensure the&nbsp;safety and performance of our&nbsp;brands on the platform,&#8221; reported Reuters.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: The lawsuit accused the World&nbsp;Federation of Advertisers and group&nbsp;members, including Unilever, Mars, and CVS Health, of conspiring to withhold &#8220;billions&nbsp;of dollars in advertising revenue&#8221;&nbsp;from X.
Following Musk&#8217;s <a href="https://www.benzinga.com/news/23/04/31810229/elon-musk-bought-twitter-1-year-ago-a-look-back-at-whats-happened-since-and-what-could-be-next">acquisition of X in October 2022</a>, the platform experienced a slump in ad revenues for several months. Just last month, the platform faced a <a href="https://www.benzinga.com/news/24/09/40762349/x-faces-major-advertiser-exodus-amid-string-of-elon-musk-controversies">major advertiser exodus</a> amid concerns over the platform&#8217;s content under Musk&#8217;s management.
Previously, billionaire entrepreneur Mark Cuban voiced concerns over <a href="https://www.benzinga.com/news/24/10/41229905/mark-cuban-says-elon-musk-advertisers-dont-want-to-be-associated-with-explicit-content-on-x-in-the-n">advertisers not wanting to be associated</a> with explicit content on X.
&#8220;When you talk about free speech, free speech applies to advertisers as well. They get to associate with whoever they want to, no matter what. So there are repercussions,&#8221; he stated at the time.
Musk&#8217;s platform&#8217;s value has also significantly dropped since, with <a href="https://www.benzinga.com/markets/mutual-funds/24/09/41103959/elon-musk-bought-x-for-44b-now-fidelity-values-social-media-network-below-10b">Fidelity valuing the social media</a> network below $10 billion now.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/10/41267154/ahead-of-trump-vs-harris-faceoff-chatgpt-parent-openai-uncovers-election-interference-misuse-but-see?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ahead Of Trump Vs. Harris Faceoff, ChatGPT Parent OpenAI Uncovers Election Interference Misuse, But Sees No &#8216;Meaningful Breakthrough&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Social Media

Legal

Elon Musk's X Reaches Agreement With Unilever, Drops It From Ad Boycott Lawsuit: 'First Part Of The Ecosystem-Wide Solution'

Elon Musk, CEO of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), defended his time-based predictions, highlighting that his forecasts are often realized, albeit not always on schedule.
What Happened: Musk took to X to explain his approach to time-based predictions. He stated that he typically targets the 50% percentile date, meaning half his predictions will be late, and half will be early.
Musk expressed frustration that the media tends to focus on late predictions, creating a perception that he is consistently behind schedule.
"The press never mentions the predictions that were early, so it seems like I'm always late," he said.
"It is very rare that a prediction I make does not come true over time."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">For my time-based predictions, I generally aim for the 50% percentile date, which means that half my predictions will be late and half will be early. The press never mentions the predictions that were early, so it seems like I'm always late. However, it is very rare that a… <a href="https://t.co/B2CXsm3owE">https://t.co/B2CXsm3owE</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1844904681585377647?ref_src=twsrc%5Etfw">October 12, 2024</a></blockquote>
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Why It Matters: Musk&#8217;s post comes in the wake of several recent delays at Tesla. In August, the company <a href="https://www.benzinga.com/news/24/08/40499576/tesla-delays-elon-musks-timeline-yet-again-for-cybertruck-fsd-rollout-this-time-to-september">announced a delay</a> in the rollout of its full self-driving (FSD) driver assistance technology for its Cybertruck vehicles, originally scheduled by Musk for an earlier date.
In July, Musk <a href="https://www.benzinga.com/news/24/07/39785823/elon-musk-confirms-delay-in-tesla-robotaxi-unveil-due-to-important-design-change-but-stays-mum-on-ne">confirmed a delay</a> in Tesla&#8217;s robotaxi unveiling due to design changes. In June, Musk <a href="https://www.benzinga.com/news/24/06/39243463/musk-puts-brakes-on-anticipated-tesla-model-y-refresh-no-model-y-refresh-is-coming-out-this-year">announced</a> that a refreshed Model Y would not be launched this year, contrary to expectations.
In April, Musk revealed that Tesla was in talks with a major automaker to license its FSD software, but deployment would take time.
However, as Musk points out, his predictions often come true eventually, as seen with the ongoing <a href="https://www.benzinga.com/news/24/04/38397845/tesla-will-solve-autonomy-even-if-i-got-kidnapped-by-aliens-tomorrow-says-elon-musk-as-he-reveals-ta">discussions</a> for FSD licensing.
Tesla's highly <a href="https://www.benzinga.com/news/21/09/22773991/tesla-roadster-delayed-to-at-least-2023-due-to-super-crazy-supply-chain-shortages-elon-musk">anticipated new Roadster</a> has also been delayed multiple times, with Musk saying back in 2021 that the car would ship in 2023. However, that is yet to come to pass.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40899599/elon-musk-said-spacex-competitors-only-take-up-less-than-we-do-and-they-take-nothing-down-and-they-g">Elon Musk Said SpaceX Competitors Only &#8216;Take Up Less Than We Do, And They Take Nothing Down, And They Get Paid Twice As Much&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

SPACE

Tesla CEO Elon Musk Defends His Time-Based Predictions Amidst Delays: 'Very Rare That A Prediction I Make Does Not Come True Over Time'

On Friday, billionaire entrepreneur&nbsp;Mark Cuban&nbsp;highlighted the <a href="https://www.axios.com/2024/10/08/harris-biden-view-abc-2024-differences">division in tax policies</a> between Vice President&nbsp;Kamala Harris&nbsp;and President&nbsp;Joe Biden.
What Happened: Cuban took to X, formerly Twitter, and said, &#8220;Fun fact, 98 percent of&nbsp;startups will receive a reduction&nbsp;in their effective tax rate&nbsp;under Kamala Harris&#8217;s tax plan.&#8221;
When a user counter-attacked, saying Harris stated that she would not have handled things any differently than Biden, Cuban said, &#8220;Yet her tax rates and&nbsp;fracking stance are definitely different.&#8221;
He went on to add that perhaps Harris believes it&#8217;s not appropriate to publicly criticize her current boss, the President.
See Also:&nbsp;<a href="https://www.benzinga.com/general/politics/24/10/41298125/maybe-musk-missed-the-memo-trumps-plan-to-ban-autonomous-vehicles-could-sour-friendship?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Maybe Musk Missed The Memo: Trump&#8217;s Plan To Ban Autonomous Vehicles Could Sour Friendship</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Yet her tax rates and fracking stance are definitely different. Guess maybe she believes you don't publicly dunk on your current boss
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1844905857936654650?ref_src=twsrc%5Etfw">October 12, 2024</a></blockquote>
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Why It Matters: Harris&#8217;s tax policies diverge significantly from Biden&#8217;s. For example, she proposed a <a href="https://www.benzinga.com/news/24/09/40722526/kamala-harris-reveals-28-capital-gains-tax-for-high-earners-toning-down-bidens-proposed-rates-ahead">capital gains tax rate of 28%</a> for individuals earning over $1 million, which is lower than Biden&#8217;s proposed 39.6%.
While both Harris and Biden agree on&nbsp;raising the <a href="https://www.benzinga.com/government/24/08/40451351/kamala-harris-wants-to-raise-corporate-tax-rate-to-28-erasing-part-of-trumps-signature-tax-cuts">corporate tax rate&nbsp;to 28%</a>, Harris&#8217;s approach is more centrist, targeting middle-class voters and businesses.
She also pledged <a href="https://www.benzinga.com/news/24/08/40650939/kamala-harris-wants-to-tax-the-ultra-wealthy-with-unrealized-gains-tax-leaving-silicon-valley-unsett">not to increase taxes</a> on households earning less than $400,000, a promise that covers approximately 98% of the population.
Harris&#8217;s stance on fracking, a&nbsp;<a href="https://www.npr.org/2024/08/30/nx-s1-5096107/what-is-fracking-explained">charged issue</a>&nbsp;in the presidential race, also sets her apart from Biden.
The 2024 Democratic presidential nominee has made it clear that she will not ban fracking, stressing that it&#8217;s possible to back a clean energy economy without outlawing the practice.
She maintains that her stance remains consistent, despite advocating for a ban during her 2019 presidential campaign.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/politics/24/10/41283673/trump-vs-harris-2024-election-swing-state-poll-too-close-to-call-but-this-candidate-leads?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: 2024 Election Swing State Poll &#8216;Too Close To Call,&#8217; But This Candidate Leads</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Politics

Mark Cuban Says Kamala Harris Likely Doesn't Believe In Publicly Dunking On Her Current Boss Biden, But Her Stance On Tax Rates And Fracking Is 'Definitely Different'

In a bid to aid disaster recovery, Elon Musk's SpaceX will offer <a href="https://www.benzinga.com/topic/starlink">Starlink satellite internet service</a> for free to those affected by Hurricanes Helene and Hurricane Milton until the end of the year.
What Happened: On Thursday, the official Starlink Twitter account posted, &#8220;For those impacted by Hurricanes Helene or Milton, Starlink service is now free through the end of the year to help with response and recovery efforts.&#8221;
This move comes after SpaceX and T-Mobile US Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) <a href="https://www.benzinga.com/news/24/10/41243785/spacexs-starlink-and-t-mobile-get-approval-to-roll-out-direct-to-cell-coverage-in-florida-before-hur">received temporary authorization</a> from the Federal Communications Commission (FCC) to provide direct-to-cell service via Starlink satellites in areas impacted by the hurricanes.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">For those impacted by Hurricanes Helene or Milton, Starlink service is now free through the end of the year to help with response and recovery efforts → <a href="https://t.co/fUko3xSviJ">https://t.co/fUko3xSviJ</a> <a href="https://t.co/vEaGPavsFz">pic.twitter.com/vEaGPavsFz</a>
&mdash; Starlink (@Starlink) <a href="https://twitter.com/Starlink/status/1844804813592367124?ref_src=twsrc%5Etfw">October 11, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/10/41200026/chinese-hackers-breach-at-t-verizon-networks-in-major-wiretap-data-theft-putting-us-national-securit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Chinese Hackers Breach AT&amp;T, Verizon Networks In Major Wiretap Data Theft Putting US National Security At Risk</a>
Earlier in the month, SpaceX CEO Musk had announced a system update to allow all Starlink satellite systems in the affected areas to operate irrespective of payment.
This was in response to a user&#8217;s request to make Starlink services free for 30 days to aid relief activities.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: The free service from Starlink is expected to significantly aid the response and recovery efforts in the regions affected by the hurricanes. The satellites will <a href="https://www.benzinga.com/news/24/10/41138209/elon-musks-spacex-to-give-free-starlink-access-to-hurricane-helene-victims">enable residents in these areas</a> to send text messages, contact 911, or receive emergency alerts.
This move follows the recent activation of Direct-to-Cell coverage by <a href="https://www.benzinga.com/news/24/10/41243785/spacexs-starlink-and-t-mobile-get-approval-to-roll-out-direct-to-cell-coverage-in-florida-before-hur">Starlink and T-Mobile</a> to provide emergency alerts in areas affected by Hurricane Helene and Florida, which was in the path of Hurricane Milton.
Starlink&#8217;s free service is a significant step in leveraging technology to aid disaster management and recovery efforts, demonstrating the potential of satellite systems in providing critical communication services during emergencies.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://www.benzinga.com/news/24/10/41287462/tiktok-cuts-hundreds-of-jobs-as-company-shifts-toward-ai-based-content-moderation-report">TikTok Cuts Hundreds Of Jobs As Company Shifts Toward AI-Based Content Moderation: Report</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

TMUS

Elon Musk's SpaceX To Offer Starlink Service For Free To Hurricane Helene And Hurricane Milton Victims Through Year-End

The Trump campaign reportedly worked with Elon Musk&#8216;s social media platform, X, to halt the dissemination of hacked campaign materials on the former president's <a href="https://www.benzinga.com/topic/jd-vance">running mate</a>, Sen. JD Vance (R-Ohio).
What Happened: These materials, allegedly acquired through an Iranian hack, were shared by independent journalist Ken Klippenstein, leading to the suspension of his account and the blocking of links to his Substack.
According <a href="https://www.nytimes.com/2024/10/11/us/politics/elon-musk-donald-trump-pennsylvania.html">to</a> The New York Times, Klippenstein&#8217;s actions were deemed a violation of X&#8217;s rules, as he posted &#8220;unredacted private personal information,&#8221; including sensitive data about Vance.
This collaboration between X and the Trump campaign has sparked concerns among lawmakers, with Rep. Dan Goldman (D-N.Y.) questioning the potential for hearings on the matter.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
The House Judiciary&#8217;s weaponization subcommittee has previously investigated alleged censorship of conservative speech by the Biden administration.
The FBI confirmed that the hack, targeting the Trump campaign, was orchestrated by Iran.
See Also: <a href="https://www.benzinga.com/news/24/10/41284847/tesla-reveals-two-seater-cybercab-that-drives-itself?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Unveils 2-Seater Cybercab That Drives Itself, Price Expected To Be Under $30K</a>
Why It Matters: The suspension of Klippenstein&#8217;s account on X has led to <a href="https://www.benzinga.com/news/24/09/41078347/elon-musk-gets-labelled-as-an-outspoken-trump-supporter-after-journalist-gets-banned-on-x-for-publis">accusations</a> against Musk of being an &#8220;outspoken&#8221; Trump supporter.
This incident follows warnings from the FBI and other intelligence agencies about potential Iranian attempts to influence the U.S. election, as reported on <a href="https://www.benzinga.com/news/24/09/41082565/threads-cuts-access-to-controversial-leaked-documents-on-jd-vance">Threads</a>, which also restricted access to the leaked documents.
Earlier, U.S. intelligence agencies revealed that Iran tried to share hacked Trump campaign data with President Biden&#8217;s team, though the FBI found no evidence of a response from Biden&#8217;s campaign, as detailed in a <a href="https://www.benzinga.com/news/24/09/40933501/us-intel-agencies-reveal-iran-tried-to-share-hacked-trump-campaign-data-with-team-biden-fbi-says-no">joint statement</a> by the FBI, ODNI, and CISA.
This situation <a href="https://www.benzinga.com/news/22/11/29850290/elon-musk-says-making-internal-twitter-conversations-on-hunter-biden-laptop-story-public-necessary-t">echoes past controversies</a>, such as Musk&#8217;s decision to make internal Twitter conversations public regarding the censorship of the New York Post&#8217;s story on Hunter Biden&#8217;s laptop, which he deemed &#8220;necessary to restore public trust."
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://www.benzinga.com/general/entertainment/24/10/41269219/michael-jordan-buys-a-new-private-jet-that-is-also-owned-by-tech-billionaires-elon-musk-and?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Michael Jordan Buys A New Private Jet That Is Also Owned By Tech Billionaires Elon Musk And Jeff Bezos</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Elon Musk Collaborated With Trump Campaign To Block Hacked JD Vance Material Off X: Report

EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/news/24/10/41284847/tesla-reveals-two-seater-cybercab-that-drives-itself">unveiled the Robovan</a> on Thursday &#8211; a vehicle designed for autonomous driving with no steering wheel or pedals but astoundingly low ground clearance and an angular design.
What Happened: The Robovan, Musk said on Friday, was inspired by Art Deco trains designed during the early 20th century. It can transport up to 20 people or cargo, the company CEO said during its unveiling.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Art Deco trains
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1844614396905185646?ref_src=twsrc%5Etfw">October 11, 2024</a></blockquote>
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Like an art deco train, the vehicle has no side mirrors and immediately looks like it lacks wheels owing to its extremely low ground clearance. The vehicle was meant to feel like a spaceship on the inside, Musk said, while adding that those traveling in the vehicle would have visibility in all directions. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Meant to feel like a spaceship
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1844669426169520277?ref_src=twsrc%5Etfw">October 11, 2024</a></blockquote>
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Musk said that the &#8220;unusually low&#8221; ground clearance was achieved by having an automatic load-leveling suspension that raises ride height and lowers it based on road conditions.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The unusually low ground clearance is achieved by having an automatic load-leveling suspension that raises or lowers, based on smooth or bumpy road conditions
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1844669182354358308?ref_src=twsrc%5Etfw">October 11, 2024</a></blockquote>
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Why It Matters: Though Musk introduced the vehicle as a Robovan at Tesla&#8217;s event held near Los Angeles on Thursday, he has since then also referred to it as the Robobus. 
The company <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41286875/tesla-analysts-rave-over-cybercabs-design-cost-advantage-but-production-timeline-sp">did not provide a price point</a> for the vehicle or even when it will enter production. However, the unusual design has raised intrigue among Tesla enthusiasts. 
Tesla also unveiled a two-seater vehicle with butterfly wings that open upwards dedicated to autonomous driving on Thursday nicknamed the Cybercab. The Cybercab, Musk said on Thursday, will be priced below $30,000 and enter production in 2026. However, the CEO is known for providing over-ambitious timelines for his company&#8217;s products and achievements. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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Photo courtesy: Tesla

Elon Musk Says Robovan's Angular Design Inspired By Art Deco Trains, 'Unusually Low' Ground Clearance Enabled By Automatic Load-Leveling Suspension

Tim Cook-led Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is facing accusations from the U.S. National Labor Relations Board, or NLRB, for allegedly restricting its employees&#8217; use of social media and Slack for advocating improved working conditions.
What Happened: The NLRB lodged a complaint against Apple on Thursday, alleging that the tech behemoth has imposed unlawful work rules related to the use of Slack.
The complaint also said that Apple terminated an employee for advocating workplace changes on the platform and created an impression of surveillance over employees&#8217; social media activities, reported Reuters.
In its defense, Apple denied any wrongdoing and reaffirmed its commitment to fostering a positive and inclusive workplace. The company stated, &#8220;We&nbsp;strongly disagree with these claims&nbsp;and will continue to share&nbsp;the facts at the hearing.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41285255/tesla-pulls-an-apple-drops-the-charging-port-before-cupertino-could-remove-it-from-the-iphone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Pulls An Apple, Drops The Charging Port Before Cupertino Could Remove It From The iPhone</a>
The complaint stemmed from a claim filed&nbsp;nearly three years ago by&nbsp;Janneke Parrish, who alleges Apple terminated her in 2021 for her&nbsp;role in employee activism.
Parrish&nbsp;used Slack and social media&nbsp;to advocate for permanent remote&nbsp;work, distribute a pay equity&nbsp;survey, and criticize the company.
If Apple does not reach a settlement&nbsp;with the NLRB, an administrative&nbsp;judge will conduct&nbsp;an initial hearing in the&nbsp;case in February.
The judge&#8217;s&nbsp;decision can be reviewed by&nbsp;the five-member labor board, and their&nbsp;rulings can be appealed in federal court.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: This marks the second complaint the NLRB has filed against Apple this month.
The earlier one accused the company of mandating <a href="https://www.benzinga.com/markets/equities/24/10/41136199/apple-accused-of-violating-federal-law-over-alleged-illegal-employee-agreements-nlrb-hearing-set">employees&nbsp;to sign illegal confidentiality</a>, nondisclosure,&nbsp;and noncompete agreements, and of enforcing&nbsp;overly broad misconduct and social&nbsp;media policies.
This is not the first time Apple has faced scrutiny from the NLRB. Last November, the federal labor board accused <a href="https://www.benzinga.com/markets/equities/23/11/35911746/labor-board-accuses-apple-of-anti-union-practices-report" target="_blank" rel="noopener">Apple of not extending a benefits</a> increase to unionized retail employees.
Cupertino has also faced <a href="https://www.benzinga.com/news/24/04/38193281/apple-faces-increased-union-efforts-from-new-jersey-store-will-previous-attempts-in-maryland-oklahom">increased unionization efforts</a> at its retail stores, which could potentially impact the company&#8217;s stock and shareholder sentiment.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

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Tim Cook-Led Apple Accused By NLRB Of Restricting Employee Advocacy On Social Media: 2nd Complaint Against iPhone-maker This Month

Boeing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) has revealed plans to cut its workforce by about 10%, reportedly equating to approximately 17,000 jobs.
What Happened: The layoffs will unfold over the next few months, affecting executives, managers, and other employees. Kelly Ortberg, Boeing&#8217;s president and CEO, communicated <a href="https://boeing.mediaroom.com/2024-10-11-Boeing-CEO-Message-to-Employees-on-Positioning-for-the-Future">this</a> decision to staff via email. According to a Reuters report, these layoffs will impact nearly 17,000 jobs.
The company has been grappling with significant challenges this year, including the grounding of Boeing 737 Max planes in January following a mid-flight incident.
In July, <a href="https://www.benzinga.com/news/24/07/39658887/boeing-strikes-plea-deal-with-doj-for-defrauding-us-regulator-over-737-max-safety-victims-lawyer-cal">Boeing accepted a guilty plea</a> over crashes involving the 737 Max in 2018 and 2019, which resulted in over 300 fatalities.
Additionally, Boeing&#8217;s Starliner spacecraft, which transported NASA astronauts to the International Space Station in June, <a href="https://www.benzinga.com/news/24/09/40758526/boeing-starliner-returns-to-earth-without-sunita-williams-and-butch-wilmore-lands-in-new-mexico-afte">returned without astronauts</a> in September due to technical issues.
See Also: <a href="https://www.benzinga.com/news/24/10/41270224/trump-vs-harris-new-poll-shows-pennsylvania-may-flip-as-vice-presidents-support-among-this-key-group?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: New Poll Shows Pennsylvania May Flip As Vice President&#8217;s Support Among This Key Group Deteriorates</a>
Nearly 33,000 Boeing factory workers <a href="https://www.benzinga.com/news/24/09/40853982/boeings-stock-falls-as-33-000-aircraft-assembly-workers-strike">have been on strike</a> since mid-September, further complicating the company&#8217;s situation. Ortberg emphasized the necessity of these layoffs to align with Boeing&#8217;s financial reality and future recovery plans.
The delivery of the first 777X airplane is now postponed to 2026, as stated in Ortberg&#8217;s memo.
Why It Matters: The layoffs come amid a tumultuous period for Boeing, marked by ongoing labor strikes and safety concerns.
The strike, which began on Sept. 13, has significantly disrupted production, leading to a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41257193/boeings-october-deliveries-expected-to-plummet-amid-strike-challenges-analyst">projected drop in October deliveries</a>. Despite attempts to negotiate with the union, no agreement has been reached, and Boeing&#8217;s credit rating has been placed under negative watch by S&amp;P Global Ratings.
Adding to the challenges, the <a href="https://www.benzinga.com/markets/equities/24/10/41236652/boeing-hit-with-737-safety-alert-issues-deliveries-warning-as-strike-continues">Federal Aviation Administration</a> (FAA) recently issued a safety alert regarding the Boeing 737&#8217;s rudder system, further complicating the company&#8217;s situation.
The decision to cut health care benefits for 33,000 striking workers has also sparked criticism from the <a href="https://www.benzinga.com/news/24/10/41170226/boeing-workers-union-says-decision-to-cut-health-care-for-33-000-is-unnecessary-and-cruel">International Association of Machinists and Aerospace Workers</a>, adding to the tension.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Boeing Announces 10% Workforce Reduction Amidst Ongoing Struggles, Impacting Nearly 17K Employees

On Friday, at a rally in Aurora, Colorado, former President&nbsp;Donald Trump&nbsp;escalated his <a href="https://www.benzinga.com/markets/cannabis/24/09/41080016/trump-bashes-harris-border-visit-immigration-policy-worst-crisis-in-history-of-world-its-an-inva">anti-immigration rhetoric</a>, suggesting the&nbsp;&#8220;death penalty&#8221; for migrants who&nbsp;murder U.S. citizens.
What Happened: The Republican presidential candidate&nbsp;depicted migrants as dangerous criminals and proposed a nationwide &#8220;Operation Aurora&#8221; to target Venezuelan gang members if he wins the upcoming election, reported Reuters.
This proposal is part of his intensified anti-immigration stance in the final weeks leading up to the Nov. 5 election.
Trump said, &#8220;I&#8217;m hereby&nbsp;calling for the death penalty&nbsp;for any migrant that kills&nbsp;an American citizen or a&nbsp;law enforcement officer,&#8221; to&nbsp;a large crowd of supporters.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41270224/trump-vs-harris-new-poll-shows-pennsylvania-may-flip-as-vice-presidents-support-among-this-key-group?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: New Poll Shows Pennsylvania May Flip As Vice President&#8217;s Support Among This Key Group Deteriorates</a>
This proposal expands on his previous suggestions to broaden&nbsp;the death penalty for other&nbsp;offenders, including those convicted of sex trafficking.
However, nearly&nbsp;half of U.S. states ban&nbsp;the death penalty, and its federal use is rare. Any&nbsp;expansion of eligible crimes would&nbsp;necessitate&nbsp;an act of the U.S.&nbsp;Congress, the report noted.
He also pledged&nbsp;to focus enforcement on Aurora&nbsp;if reelected, despite Aurora Mayor Mike Coffman stating that concerns&nbsp;about Venezuelan gang activity have&nbsp;been &#8220;grossly exaggerated.&#8221;
Why It Matters: Trump has previously made <a href="https://www.benzinga.com/markets/equities/24/10/41196721/trumps-dark-rhetoric-migrants-portrayed-as-criminals-amid-election-heat">unfounded claims that migrants</a> crossing the U.S. border were responsible for widespread violence.
His focus on &#8220;migrant crime&#8221; is a key feature of his third presidential run, despite studies showing&nbsp;immigrants do not commit crimes&nbsp;at a higher rate than&nbsp;native-born Americans.
Trump&#8217;s focus on immigration was also <a href="https://www.benzinga.com/markets/cannabis/24/09/40820699/trump-stuck-in-southern-border-and-immigration-loop-during-harris-debate-theyre-destroying-our-c">evident during a presidential debate</a> with Democratic nominee Kamala Harris, where he blamed illegal immigrants for drugs and murders.
The former president and his running mate Sen.&nbsp;JD Vance&nbsp;(R-Ohio.) have used the immigration issue as a <a href="https://www.benzinga.com/markets/cannabis/24/10/41299527/kamala-harris-defends-immigration-policy-at-latino-town-hall-criticizes-trumps-border-stance">cornerstone of their campaign speeches</a>, blaming undocumented immigrants for a rise in drug trafficking.
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Trump Steps Up Anti-Immigrant Rhetoric, Proposes Nationwide Plan To Target Venezuelan Gang Members

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