This Cartoon Explains How the Rich Got Rich and the Poor Got Poor

Something massive and important has happened in the United States over the past 50 years: Economic wealth has become increasingly concentrated among a small group of ultra-wealthy Americans. You can read lengthy books on this subject, like economist Thomas Piketty's recent best-seller, Capital in the Twenty-First Century (the book runs 696 pages and weighs in … Continue reading This Cartoon Explains How the Rich Got Rich and the Poor Got Poor

Uber’s self-driving car unit was burning $20 million a month

Uber thought it would have 75,000 autonomous vehicles on the roads this year and be operating driverless taxi services in 13 cities by 2022, according to court documents unsealed last week. To reach those ambitious goals, the ridesharing company, which hopes to go public later this year, was spending $20 million a month on developing … Continue reading Uber’s self-driving car unit was burning $20 million a month

TPG’s Bill McGlashan is put on indefinite leave after being charged in a giant college admissions cheating scandal

Bill McGlashan, who built his career as a top investor at the private equity firm TPG, has been put on “indefinite administrative leave, effective immediately,” says the firm after McGlashan was caught up in what the Justice Department said today is the largest college admissions scandal it has ever prosecuted. McGlashan is among 49 others … Continue reading TPG’s Bill McGlashan is put on indefinite leave after being charged in a giant college admissions cheating scandal

Spotify files a complaint against Apple with the European Commission over ‘Apple tax’ and restrictive rules

Spotify is taking off its gloves in what has up to now been a behind-the-scenes tug-of-war with Apple, where it competes against Apple Music but also relies heavily on the company for distribution of its app on iOS devices. Today CEO Daniel Ek announced that his company has filed with the European Commission a complaint against … Continue reading Spotify files a complaint against Apple with the European Commission over ‘Apple tax’ and restrictive rules

Google’s Waymo seeks outside investment and a sky-high valuation

Alphabet’s self-driving vehicle subsidiary Waymo may raise outside capital for the first time at a valuation “at least several times” that of Cruise, the General Motors-owned autonomous vehicle business worth nearly $15 billion, according to a report published by The Information on Monday. We’ve reached out to our sources to confirm. Waymo didn’t immediately respond … Continue reading Google’s Waymo seeks outside investment and a sky-high valuation

Quantum Monism Could Save the Soul of Physics

“The most incomprehensible thing about the universe is that it is comprehensible, ”Albert Einstein famously once said. These days, however, it is far from being a matter of consensus that the universe is comprehensible, or even that it is unique. Fundamental physics is facing a crisis, related to two popular concepts that are frequently invoked, … Continue reading Quantum Monism Could Save the Soul of Physics