China’s enormous debt ‘no longer can be ignored,’ analyst says

The world’s second biggest economy, which is slowing, is past a point where it cannot ignore its enormous debt anymore, according to an analyst. Fraser Howie, an independent analyst, told CNBC Tuesday that there’s a “whole host of hidden debt” in China, which had kick started stimulus this year as its economy slowed. “China is very much past the tipping point where the debt simply no longer can be ignored. “China … (had) this huge stimulus and turn on the credit taps and they drove all this gl


The world’s second biggest economy, which is slowing, is past a point where it cannot ignore its enormous debt anymore, according to an analyst. Fraser Howie, an independent analyst, told CNBC Tuesday that there’s a “whole host of hidden debt” in China, which had kick started stimulus this year as its economy slowed. “China is very much past the tipping point where the debt simply no longer can be ignored. “China … (had) this huge stimulus and turn on the credit taps and they drove all this gl
China’s enormous debt ‘no longer can be ignored,’ analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: shriya sharma
Keywords: news, cnbc, companies, china, started, stimulus, ignored, longer, analyst, rate, demand, told, economy, debt, enormous, chinas, slowing, howie


China's enormous debt 'no longer can be ignored,' analyst says

The world’s second biggest economy, which is slowing, is past a point where it cannot ignore its enormous debt anymore, according to an analyst.

Fraser Howie, an independent analyst, told CNBC Tuesday that there’s a “whole host of hidden debt” in China, which had kick started stimulus this year as its economy slowed.

“China is very much past the tipping point where the debt simply no longer can be ignored. The cost of servicing the debt … simply distracts from almost everything else,” said Howie.

China’s total debt — corporate, household and government — rose to over 300% of its GDP in the first quarter of 2019, slightly up from the same period a year earlier, according to a report by the Institute of International Finance.

“China … (had) this huge stimulus and turn on the credit taps and they drove all this global demand,” Howie said. “But there clearly was going to be a cost … and now they are suffering (from) it.”

China’s debt levels rapidly shot up a few years ago as its banks extended record amounts of credit to drive growth, which led to the Asian giant undertaking deleveraging efforts, or the process of reducing debt.

But the trade war has put a dent in its efforts to pare its massive debt as Beijing sought ways to boost its slowing economy, which was at its lowest growth in 27 years. Earlier this year, banks started to increase its lending again, with new loans surging to a record high.

In what some analysts called effectively a rate cut, the People’s Bank of China also this week launched a key interest rate reform — the loan prime rate — that would make borrowing costs for companies cheaper, and theoretically boost investment.

But Howie told CNBC that the issue was really whether there would be demand for more credit.

“The Chinese economy is clearly slowing, there are a lot of headwinds, there’re companies leaving China. China’s becoming a much harder investment case for a number of reasons. So is the underlying demand there or not?” he asked.


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: shriya sharma
Keywords: news, cnbc, companies, china, started, stimulus, ignored, longer, analyst, rate, demand, told, economy, debt, enormous, chinas, slowing, howie


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A 24-year-old entrepreneur was bored in science class — so she started this company

Komal Dadlani was 24 years-old when she completed her Master’s degree in biochemistry from the University of Chile. She loved science — but would often leave class feeling bored. The premise was to use the sensors and processing power of smartphones and tablets for science experiments. The company teaches basic science principles in physics, chemistry and biology by enabling experiments from an app on a smartphone or tablet. “With very basic materials you can actually run experiments,” Dadlani e


Komal Dadlani was 24 years-old when she completed her Master’s degree in biochemistry from the University of Chile. She loved science — but would often leave class feeling bored. The premise was to use the sensors and processing power of smartphones and tablets for science experiments. The company teaches basic science principles in physics, chemistry and biology by enabling experiments from an app on a smartphone or tablet. “With very basic materials you can actually run experiments,” Dadlani e
A 24-year-old entrepreneur was bored in science class — so she started this company Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: elizabeth schulze
Keywords: news, cnbc, companies, dadlani, entrepreneur, students, basic, yearsold, experiments, way, company, bored, 24yearold, science, class, water, visit, started, used


A 24-year-old entrepreneur was bored in science class — so she started this company

Komal Dadlani was 24 years-old when she completed her Master’s degree in biochemistry from the University of Chile.

She loved science — but would often leave class feeling bored.

“My classes were very theoretical, and they were not as engaging as I would like them to be,” she told CNBC’s Make It. “Then I would visit schools in Chile, and they did not have labs.”

Dadlani’s frustration prompted an idea: A start-up that would make learning science more accessible, and fun, for students like her across Latin America, where fewer than 15% of students earn degrees in STEM (science, technology, engineering, or mathematics) fields, according to the National Science Foundation. The premise was to use the sensors and processing power of smartphones and tablets for science experiments.

“You never said page 245 of that textbook changed my life,” Dadlani said. “It’s normally the experience, the teacher that changes your perception and the way you think.”

In 2013, Dadlani co-founded Lab4U with Colombian software engineer Alvaro Peralta. The company teaches basic science principles in physics, chemistry and biology by enabling experiments from an app on a smartphone or tablet.

For example, a phone’s camera is used to measure color samples in beakers of water, replacing a traditional colorimeter which can cost up to $500 in a lab or classroom. Lab4U’s experiments are designed to use cheap, easy-to-find objects like masking tape, toy cars or springs.

“With very basic materials you can actually run experiments,” Dadlani explained.


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: elizabeth schulze
Keywords: news, cnbc, companies, dadlani, entrepreneur, students, basic, yearsold, experiments, way, company, bored, 24yearold, science, class, water, visit, started, used


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Google News inventor returns to Google after four-year hiatus

Krishna Bharat, the inventor of Google News, has returned to the company after four years to work on Search and News, Google has confirmed. The former Google veteran worked at the company for 15 years, between 1999 and 2015, and led a team that built Google News in the aftermath of the terror attacks of Sept. 11, 2001. Bharat’s colleague, former Google search leader Amit Singhal, told Poynter in a 2011 interview, “When September 11th happened, we as Google were failing our users. While at Google


Krishna Bharat, the inventor of Google News, has returned to the company after four years to work on Search and News, Google has confirmed. The former Google veteran worked at the company for 15 years, between 1999 and 2015, and led a team that built Google News in the aftermath of the terror attacks of Sept. 11, 2001. Bharat’s colleague, former Google search leader Amit Singhal, told Poynter in a 2011 interview, “When September 11th happened, we as Google were failing our users. While at Google
Google News inventor returns to Google after four-year hiatus Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: jennifer elias
Keywords: news, cnbc, companies, bharat, inventor, users, sept, search, krishna, fouryear, scientist, company, worked, google, hiatus, returns, started


Google News inventor returns to Google after four-year hiatus

Krishna Bharat, the inventor of Google News, has returned to the company after four years to work on Search and News, Google has confirmed.

His return comes at a time when lawmakers and politicians scrutinize the company’s handling of disinformation and content including news rankings. It also comes two years after Bharat publicly criticized Google’s news vetting process after it surfaced threads from 4Chan identifying the wrong person as the Las Vegas shooter, calling the product “shameful and irresponsible.”

The former Google veteran worked at the company for 15 years, between 1999 and 2015, and led a team that built Google News in the aftermath of the terror attacks of Sept. 11, 2001.

“At Google we realized that our ability to display links to the freshest and most relevant news was limited by a fundamental problem: fresh news lacked hyperlinks,” he wrote in a blog post in 2011 after Osama bin Laden, the mastermind of the Sept. 11 attacks, was killed. “I realized that if Google could compute how many news sources were covering the underlying story at a given point in time, we could then estimate how important the story was.”

Bharat’s colleague, former Google search leader Amit Singhal, told Poynter in a 2011 interview, “When September 11th happened, we as Google were failing our users. Our users were searching for ‘New York Twin Towers,’ and our results had nothing relevant, nothing related to the sad events of the day. My friend Krishna and I were attending a conference at the time, and Krishna started thinking about the problem, saying, ‘If we could crawl news quickly, and we can provide multiple points of view about the same story to our users, wouldn’t it be amazing?’ That was the birth of Google News.”

While at Google, Bharat worked as a distinguished research scientist on web search and information extraction. He was also founder and first director of Google’s R&D branch in Bangalore.

He left the search giant in 2015 to become a founding advisor for a machine learning software company called Laserlike. Apple reportedly acquired Laserlike earlier this year.

Bharat started his second stint at Google in July as a distinguished research scientist, again.

Follow @CNBCtech on Twitter for the latest tech industry news.


Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: jennifer elias
Keywords: news, cnbc, companies, bharat, inventor, users, sept, search, krishna, fouryear, scientist, company, worked, google, hiatus, returns, started


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Amazon is passing along costs of a new digital tax to thousands of French sellers

Virginie Lemaire recently opened her email to an unsettling message from Amazon: fees for sellers like her in France will be increasing by 3%. Lemaire, a single mother of two, started her jewelry company Perle d’un jour in 2011. The French small business owner started selling her products on Amazon two years ago and now generates one-fifth of her sales from the e-commerce giant’s marketplace. So it was an unwelcome surprise when she found out Amazon would be raising seller fees for her and thous


Virginie Lemaire recently opened her email to an unsettling message from Amazon: fees for sellers like her in France will be increasing by 3%. Lemaire, a single mother of two, started her jewelry company Perle d’un jour in 2011. The French small business owner started selling her products on Amazon two years ago and now generates one-fifth of her sales from the e-commerce giant’s marketplace. So it was an unwelcome surprise when she found out Amazon would be raising seller fees for her and thous
Amazon is passing along costs of a new digital tax to thousands of French sellers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: elizabeth schulze
Keywords: news, cnbc, companies, thousands, started, french, costs, unwelcome, passing, virginie, company, small, mediumsized, tax, digital, fees, unsettling, amazon, sellers


Amazon is passing along costs of a new digital tax to thousands of French sellers

Virginie Lemaire recently opened her email to an unsettling message from Amazon: fees for sellers like her in France will be increasing by 3%.

Lemaire, a single mother of two, started her jewelry company Perle d’un jour in 2011. Trained as an artisan jeweler, she makes handmade custom pieces like necklaces, bracelets and rings.

The French small business owner started selling her products on Amazon two years ago and now generates one-fifth of her sales from the e-commerce giant’s marketplace.

So it was an unwelcome surprise when she found out Amazon would be raising seller fees for her and thousands of other small and medium-sized French businesses starting in October. The reason the company cited was simple: a 3% digital tax passed by the French government in July.

Amazon’s move appears to directly conflict with the French government’s aim of leveling the playing field between Big Tech and small and medium-sized enterprises, and further complicates France’s effort to rein in companies like Amazon, Facebook and Google.


Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: elizabeth schulze
Keywords: news, cnbc, companies, thousands, started, french, costs, unwelcome, passing, virginie, company, small, mediumsized, tax, digital, fees, unsettling, amazon, sellers


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Founder of 8chan wishes he could ‘uncreate’ forum popular with white supremacists

Fredrick Brennan has little affection for 8chan, the fringe internet message board he started in 2013. “There is no way I can go back and uncreate 8chan,” Brennan, 25, told NBC News on Tuesday from his home in the Philippines. After Watkins acquired 8chan in 2015, he convinced Brennan to move to the Philippines to continue running the site. Now that “the bodies are continuing to pile up,” he said he is doing everything he can to stop how 8chan is being run. Brennan started 8chan for what he call


Fredrick Brennan has little affection for 8chan, the fringe internet message board he started in 2013. “There is no way I can go back and uncreate 8chan,” Brennan, 25, told NBC News on Tuesday from his home in the Philippines. After Watkins acquired 8chan in 2015, he convinced Brennan to move to the Philippines to continue running the site. Now that “the bodies are continuing to pile up,” he said he is doing everything he can to stop how 8chan is being run. Brennan started 8chan for what he call
Founder of 8chan wishes he could ‘uncreate’ forum popular with white supremacists Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-06  Authors: aurora almendral, yuliya talmazan
Keywords: news, cnbc, companies, founder, forum, brennan, watkins, zealand, sites, 8chan, mass, white, philippines, uncreate, user, supremacists, wishes, popular, started, way


Founder of 8chan wishes he could 'uncreate' forum popular with white supremacists

Fredrick Brennan has little affection for 8chan, the fringe internet message board he started in 2013.

After operating for years in the shadows of the internet, the website has gained notoriety for its incubation of extremists views and hate speech — culminating in its use by three accused mass shooters in the U.S. and New Zealand, who are suspected of killing a total of 74 people this year.

“There is no way I can go back and uncreate 8chan,” Brennan, 25, told NBC News on Tuesday from his home in the Philippines. “If I could, I would, but there is no way to do that. So the main way I have dealt with the guilt is to go on the offensive.”

Moments before the mass shooting in a Walmart in El Paso, Texas, on Saturday morning, the gunman appeared to have unveiled his plans in an anti-Hispanic, anti-immigrant rant on 8chan.

Earlier this year, Brenton Tarrant, accused of killing 51 people inside two mosques in Christchurch, New Zealand, in March, and John Earnest, who allegedly killed one person inside a synagogue near San Diego in April, also posted white nationalist, far-right sentiments on 8chan before the shootings.

Brennan no longer has control of 8chan, which has been run by Jim Watkins, a U.S. Army veteran, out of the Philippines since 2015, but said he now feels that he must speak out about what it has become.

After Watkins acquired 8chan in 2015, he convinced Brennan to move to the Philippines to continue running the site. Brennan stopped working for the site in 2016 and the two have had no contact since 2018.

Brennan said that although there were times he felt guilty about having created 8chan, he previously couldn’t give a straight answer when asked if he regretted creating the website.

Now that “the bodies are continuing to pile up,” he said he is doing everything he can to stop how 8chan is being run.

“I have pretty much pulled out all the stops,” Brennan said, explaining that he has been doing a lot of interviews to highlight what, in his view, is gross mismanagement of the platform.

Brennan started 8chan for what he calls ideological, free-speech reasons, but its no-holds-barred approach quickly attracted a fringe user base, becoming a platform of choice for violent extremists and mass shooters.

He blames Watkins, the new owner, and the site’s administrators for “giving constant nods and winks to the radical, neo-Nazi part of their user base” and for enjoying the platform’s infamy.

As an example, he said hours after the El Paso shooting, the administrators kept a tagline that said, “Embrace infamy” on the site’s front page.

“It’s kind of like they are telling their users, ‘Hey, if you want to do something good for us, go shoot up a school, because that will make us more infamous,'” he said.

8chan did not immediately respond to a request for comment.


Company: cnbc, Activity: cnbc, Date: 2019-08-06  Authors: aurora almendral, yuliya talmazan
Keywords: news, cnbc, companies, founder, forum, brennan, watkins, zealand, sites, 8chan, mass, white, philippines, uncreate, user, supremacists, wishes, popular, started, way


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China seems to be softening its hardline stance against bitcoin, says crypto services CEO

China seems to be backing off its hardline stance against cryptocurrencies, a serial internet entrepreneur told CNBC on Monday. “We have been seeing, from my vantage point, a softening in the Chinese stance towards crypto,” said Jeremy Allaire, co-founder and CEO of crypto financial services firm Circle. But as global interest in crypto rises, and large names, like Facebook, are backing their own digital coins, China may be looking to join the movement. Shortly after that, the state-owned Bank o


China seems to be backing off its hardline stance against cryptocurrencies, a serial internet entrepreneur told CNBC on Monday. “We have been seeing, from my vantage point, a softening in the Chinese stance towards crypto,” said Jeremy Allaire, co-founder and CEO of crypto financial services firm Circle. But as global interest in crypto rises, and large names, like Facebook, are backing their own digital coins, China may be looking to join the movement. Shortly after that, the state-owned Bank o
China seems to be softening its hardline stance against bitcoin, says crypto services CEO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-05  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, stance, bitcoin, started, large, crypto, global, starting, hardline, services, china, ceo, recent, chinese, softening


China seems to be softening its hardline stance against bitcoin, says crypto services CEO

China seems to be backing off its hardline stance against cryptocurrencies, a serial internet entrepreneur told CNBC on Monday.

“We have been seeing, from my vantage point, a softening in the Chinese stance towards crypto,” said Jeremy Allaire, co-founder and CEO of crypto financial services firm Circle. He founded and formerly served as CEO of video streaming provider Brightcove. He was also a technologist at General Catalyst, a Cambridge-based venture firm.

The Chinese government in 2017 started to ban initial bitcoin offerings and shut cryptocurrency trading exchanges.

But as global interest in crypto rises, and large names, like Facebook, are backing their own digital coins, China may be looking to join the movement.

In mid-July, a Chinese court legally recognized bitcoin as digital property. Shortly after that, the state-owned Bank of China started marketing about bitcoin and cryptocurrencies.

“There is a lot of Chinese national participation in this market,” Allaire said, referring to bitcoin. “There are many large offshore exchanges,” he added, which people are using to bet on the industry.

Digital coins are starting to be viewed as an attractive hedge in times of economic upheaval.

Bitcoin, which has rocketed about 200% higher in 2019, soared as much as 9% on Monday to over $11,000 as weekend uncertainty between China and the United States rattled global stock markets.

President Donald Trump last week announced that the U.S. would impose a 10% tariff on an additional $300 billion of Chinese imports starting Sept. 1.

On Monday, China retaliated by allowing its currency to slide to its lowest level in more than a decade.

However, it’s worth noting that cryptocurrencies have been highly volatile in recent years, with bitcoin swinging from all-time highs above $19,000 in December 2017 to recent lows around $3,200 a year later.


Company: cnbc, Activity: cnbc, Date: 2019-08-05  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, stance, bitcoin, started, large, crypto, global, starting, hardline, services, china, ceo, recent, chinese, softening


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China is just getting started using yuan in trade war, analysts say

The Chinese yuan could continue to fall against the dollar as China and the United States escalate their trade dispute, analysts said. The dollar reached a high of 7.0449 against the Chinese yuan onshore overnight, the highest level since March 2008 and breaching the level of 7.0 that had previously been protected. The People’s Bank of China said the country was not devaluing its currency and would adhere to the market-determined exchange rate system, but some analysts view the sharp shift in th


The Chinese yuan could continue to fall against the dollar as China and the United States escalate their trade dispute, analysts said. The dollar reached a high of 7.0449 against the Chinese yuan onshore overnight, the highest level since March 2008 and breaching the level of 7.0 that had previously been protected. The People’s Bank of China said the country was not devaluing its currency and would adhere to the market-determined exchange rate system, but some analysts view the sharp shift in th
China is just getting started using yuan in trade war, analysts say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-05  Authors: jesse pound, fred imbert
Keywords: news, cnbc, companies, started, chinese, trade, shift, currency, getting, say, analysts, ubs, slow, sharp, using, war, yuan, china


China is just getting started using yuan in trade war, analysts say

The Chinese yuan could continue to fall against the dollar as China and the United States escalate their trade dispute, analysts said.

The dollar reached a high of 7.0449 against the Chinese yuan onshore overnight, the highest level since March 2008 and breaching the level of 7.0 that had previously been protected. The People’s Bank of China said the country was not devaluing its currency and would adhere to the market-determined exchange rate system, but some analysts view the sharp shift in the exchange rate as another blow in the trade war.

“While we should not expect policymakers to be so explicit in their reasoning, markets are likely to take today’s yuan trade as a signal from China that currency depreciation is on the table if push comes to shove with US tariffs,” UBS said in a note on Monday morning. The firm predicted China allowing the yuan to weaken another 3% to 4%.

“Beijing is well aware of the costs of sharp depreciation, both in terms of outflow pressure and pressure from trading partners and Washington. In light of increased trade risks, we have shifted our USDCNY forecast to 7.2 over three and six months, and we do not rule out tests of 7.3 over this period,” UBS added.

President Donald Trump accused China of manipulating its currency on Monday morning.

Societe General believes the yuan decline could be even greater.

“Our EM FX strategists now expect CNY to trade in the 7.1-7.2 range in H2 2019 and assign a low but rising probability of more gradual deprecation to the 7.5-7.7 range,” Societe General said.

Trump announced last week that the U.S. would place a 10% tariff on an additional $300 billion of products imported from China, escalating the simmering trade war between the two countries.

Jens Nordvig, the founder of Exante Data, said on CNBC’s “Squawk Box ” he believes the Chinese central bank “ignited” the currency shift but also took some action to slow the slump in the yuan.

The U.S. Treasury could work to slow the falling yuan, but Nordvig said analysts believe it would take “a commitment to unlimited intervention” for U.S. counteraction to be effective against the Chinese.


Company: cnbc, Activity: cnbc, Date: 2019-08-05  Authors: jesse pound, fred imbert
Keywords: news, cnbc, companies, started, chinese, trade, shift, currency, getting, say, analysts, ubs, slow, sharp, using, war, yuan, china


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Tesla has started a new anti-fraud department, according to a recent job listing

For instance, in June 2018, Musk sent a pair of e-mails around to all Tesla employees urging them to find and stop turncoats. In one e-mail, Musk asserted:”A Tesla employee who had conducted quite extensive and damaging sabotage to our operations.” In that same e-mail, Musk told Tesla employees that they are in a battle that could be characterized as Tesla versus the world. In November 2018, according to a Department of Justice statement, a former Tesla employee named Salil Parulekar was indicte


For instance, in June 2018, Musk sent a pair of e-mails around to all Tesla employees urging them to find and stop turncoats. In one e-mail, Musk asserted:”A Tesla employee who had conducted quite extensive and damaging sabotage to our operations.” In that same e-mail, Musk told Tesla employees that they are in a battle that could be characterized as Tesla versus the world. In November 2018, according to a Department of Justice statement, a former Tesla employee named Salil Parulekar was indicte
Tesla has started a new anti-fraud department, according to a recent job listing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-05  Authors: lora kolodny
Keywords: news, cnbc, companies, vehicle, started, listing, waste, musk, antifraud, teslas, fraud, employees, recent, department, tesla, told, employee, according, job


Tesla has started a new anti-fraud department, according to a recent job listing

Tesla is stepping up its efforts to detect and prevent fraud and waste within its ranks, according to a job listing posted to its own careers page on July 19th, and syndicated to LinkedIn about a week ago.

According to the recruiting ad, Tesla seeks a “Manager, Financial (Anti-Fraud) Analytics & Investigation,” to helm a new group. Here’s an excerpt:

“Global Fraud Management is a new team established to promote and foster a culture of ethical behavior and to mitigate fraud, waste, and abuse through prevention, investigation, and remediation. In this role, the ideal candidate would work with key stakeholders to build the global fraud strategy for Tesla and develop a world-class fraud prevention, detection, and response team.'”

The listing doesn’t say what prompted the creation of this team.

However, Tesla’s factories have been plagued by waste and disorganization in the past. For example, employees previously told CNBC that they had trouble tracking their project budgets and specific purchase orders within Tesla’s disparate systems. Others told CNBC they engaged in quick fixes during Model 3 vehicle assembly which Tesla said were not in line with company’s official procedures and policies.

CEO Elon Musk has also espoused the notion that Tesla is besieged by haters, some out to damage the electric vehicle and renewable energy company from within.

For instance, in June 2018, Musk sent a pair of e-mails around to all Tesla employees urging them to find and stop turncoats. In one e-mail, Musk asserted:

“A Tesla employee who had conducted quite extensive and damaging sabotage to our operations.”

It turned out Musk was referencing Martin Tripp, a former Gigafactory employee who claimed Tesla was using flawed battery manufacturing practices, and hiding relevant info from shareholders. Tripp is still embroiled in a legal battle with Tesla after taking his claims to press.

In that same e-mail, Musk told Tesla employees that they are in a battle that could be characterized as Tesla versus the world. He wrote:

“As you know, there are a long list of organizations that want Tesla to die. These include Wall Street short sellers, who have already lost billions of dollars and stand to lose a lot more. Then there are the oil and gas companies, the wealthiest industry in the world—they don’t love the idea of Tesla advancing the progress of solar power and electric cars.”

In another e-mail that week, speaking of one of several paint shop fires that occurred at Tesla’s Fremont, California factory throughout 2018, Musk said: “Could just be a random event, but as Andy Grove said, ‘Only the paranoid survive.’ Please be on the alert for anything that’s not in the best interests of our company.”

In November 2018, according to a Department of Justice statement, a former Tesla employee named Salil Parulekar was indicted for allegedly embezzling $9.3 million from Tesla by diverting payments from one supplier to another.

And in the first quarter of 2019, Tesla filed a pair of lawsuits against former employees at self-driving tech venture Zoox, and Chinese electric vehicle makers, Xiaopeng, alleging theft of trade secrets.

CNBC has reached out to Tesla for comment about the job listing and will update this post if the company responds.

WATCH: Inside Tesla’s Nevada Gigafactory


Company: cnbc, Activity: cnbc, Date: 2019-08-05  Authors: lora kolodny
Keywords: news, cnbc, companies, vehicle, started, listing, waste, musk, antifraud, teslas, fraud, employees, recent, department, tesla, told, employee, according, job


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This Hong Kong entrepreneur is educating millions with his ‘Uber for tutoring’ app

From left to right, Timothy Yu, founder and CEO of Snapask, and chief financial officer, TerryWhen on-demand education app Snapask emerged on the scene in 2015, it was quickly dubbed the “Uber” for tutoring. The Hong Kong company was then just a young start-up, serving 100,000 students. Like the vast majority of university students in Hong Kong, Yu was working as a high school tutor to fund his studies in the famously expensive city. Snapask’s app interface Snapask”We started to see how apps had


From left to right, Timothy Yu, founder and CEO of Snapask, and chief financial officer, TerryWhen on-demand education app Snapask emerged on the scene in 2015, it was quickly dubbed the “Uber” for tutoring. The Hong Kong company was then just a young start-up, serving 100,000 students. Like the vast majority of university students in Hong Kong, Yu was working as a high school tutor to fund his studies in the famously expensive city. Snapask’s app interface Snapask”We started to see how apps had
This Hong Kong entrepreneur is educating millions with his ‘Uber for tutoring’ app Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-29  Authors: karen gilchrist
Keywords: news, cnbc, companies, yu, entrepreneur, started, app, kong, snapask, educating, tutors, student, students, hong, uber, millions, questions, tutoring


This Hong Kong entrepreneur is educating millions with his 'Uber for tutoring' app

From left to right, Timothy Yu, founder and CEO of Snapask, and chief financial officer, Terry

When on-demand education app Snapask emerged on the scene in 2015, it was quickly dubbed the “Uber” for tutoring. “I guess people relate us because we provide the same kind of convenience for users,” founder and CEO Timothy Yu said of the characterization. The Hong Kong company was then just a young start-up, serving 100,000 students. But like the famous ride-hailing platform, it has been moving in the fast lane in the two years since. Today, the four-year-old platform, which matches students with qualified tutors for interactive question-and-answer sessions, has connected more than two million users with 250,000 educators across eight countries. It has also amassed over $20 million in funding along the way. And to think, it was all born out of laziness.

That’s pretty much how it started. From being a lazy person… Timothy Yu founder and CEO, Snapask

‘Uber for tutoring’

In 2008, while Uber was just a vision in its founder Travis Kalanick’s mind, Yu was at university growing fed up of the energy he was wasting on his side job. Like the vast majority of university students in Hong Kong, Yu was working as a high school tutor to fund his studies in the famously expensive city. But he quickly grew tired of the “inefficient” private tutor model, which typically involves several unpaid hours spent planning and commuting to students each week. Seeing the proliferation of technology and its ability to enable remote services, the finance student thought there must be a better way.

Snapask’s app interface Snapask

“We started to see how apps had changed the way we perceive services,” Yu, now 30, told CNBC Make It recently in Hong Kong. “So I started thinking about how I could move my work online.” “That’s pretty much how it started. From being a lazy person (thinking) I don’t want to teach anymore, to finding that it can actually be a business model,” the Forbes 30 Under 30 entrepreneur said laughing.

Getting entrepreneurial

Laziness was just the beginning, of course. Yu, then still a student, quickly began experimenting with alternative tutoring methods, which ranged from Facebook videos to an online past paper bank. Though neither worked, they inspired the idea which would go on to become Snapask. “After watching my videos, a lot of students started messaging me their questions. That actually gave me the idea: ‘Hey, why don’t we just try and monetize this?'” Yu told Tech In Asia last year. So, along with a team of freelance programmers, he set about creating a prototype of an on-demand Q&A app. Snapask in action Under the Snapask model, students upload a question or photo of their problem to the app, before algorithms identify and alert the most appropriately qualified local tutors. The quickest tutor to respond — usually taking less than 5 seconds — is then assigned the job and begins a one-on-one, in-app messaging session with the student. Snapask’s software then analyzes the conversation to monitor and rate the quality of teaching. The app works on a subscription basis, whereby students pay for a monthly question allowance. Currently, these range from $43 to $86 per month. Tutors, who must have A grades in their chosen specialism, earn according to number of questions answered. They can help several students simultaneously and typically earn around $2,000 per month answering 2,500 questions. “Like Uber drivers,” tutors are not directly contracted under Snapask, according to Yu. After graduation, Yu worked three jobs — one full-time banking role and two tutoring roles — to fund the project. His $40,000 investment was later matched by local Hong Kong start-up incubator program, Cyberport. Turning to work on the business full-time, Yu began recruiting tutors and signed up 300 student tutors from his own university within the first few days. Within months, thousands of tutors and tens of thousands of students had signed up. “I guess, fundamentally, they had the same problem as well,” he said, noting the time-consuming nature of traditional tutoring.

Changing the face of education

Snapask now handles approximately two million questions per month, across markets in Australia, Hong Kong, Indonesia, Japan, Korea, Malaysia, New Zealand, Singapore, Taiwan and Thailand. The company directly employs 80 staff to handle app operations. Yu said he believes the business has helped break down barriers to education and given students greater control over how and what they learn. He said that’s been especially helpful in emerging economies, where access to good education can be difficult.

Snapask’s Q&A app interface Snapask

“The bigger the country, the bigger the problem it is,” said Yu. “Good tutors from good universities are usually in major cities, so it means educational resources from other second, third-tier cities could be relatively lower.” That links to Yu’s bigger ambitions to help reinvent the education system. “The reason I started the company is (due to) a fundamental mistrust in the current education system and how it could be,” said Yu. “So much of school teaching (is) not applicable to real life.” “What we want to change is people’s ability to self-learn by asking questions,” he continued. “We want the student to control it.” Don’t miss: What Facebook and Google taught this couple about building a Chinese app that reaches 25 million users Like this story? Subscribe to CNBC Make It on YouTube!


Company: cnbc, Activity: cnbc, Date: 2019-07-29  Authors: karen gilchrist
Keywords: news, cnbc, companies, yu, entrepreneur, started, app, kong, snapask, educating, tutors, student, students, hong, uber, millions, questions, tutoring


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The surprising benefits of journaling for 15 minutes a day—and 7 prompts to get you started

If you’re like most people, you’ll only write down what you absolutely need to, like to-do lists, meeting notes and reminders. But writing in your journal as a way to release and express your thoughts, feelings and emotions can be a life-changing habit. It can help you clarify your thoughts and feelingsKeeping a journal allows you to track patterns, trends and improvements over time. It can help you recover from traumatic experiencesThere are no rules as to how or what you must write about. Crea


If you’re like most people, you’ll only write down what you absolutely need to, like to-do lists, meeting notes and reminders. But writing in your journal as a way to release and express your thoughts, feelings and emotions can be a life-changing habit. It can help you clarify your thoughts and feelingsKeeping a journal allows you to track patterns, trends and improvements over time. It can help you recover from traumatic experiencesThere are no rules as to how or what you must write about. Crea
The surprising benefits of journaling for 15 minutes a day—and 7 prompts to get you started Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-25  Authors: kabir sehgal, contributor deepak chopra, deepak chopra
Keywords: news, cnbc, companies, dayand, journaling, minutes, journal, prompts, write, study, sense, writing, feelings, youre, 15, help, traumatic, thoughts, started, surprising, benefits


The surprising benefits of journaling for 15 minutes a day—and 7 prompts to get you started

Daily writing can be a challenge if you’re new to it. Much like meditating, it requires patience and commitment. But if you stick to it, it can improve your life in significant ways.

If you’re like most people, you’ll only write down what you absolutely need to, like to-do lists, meeting notes and reminders. But writing in your journal as a way to release and express your thoughts, feelings and emotions can be a life-changing habit.

1. It can help you clarify your thoughts and feelings

Keeping a journal allows you to track patterns, trends and improvements over time. When current circumstances appear insurmountable, you can look back on previous dilemmas that you have since resolved and learn from them.

You might also encounter moments where you feel confused and uncertain about your feelings. By writing them down, you’re able to tap into your internal world and better make sense of things.

Anne Nelson, an acclaimed journalist and author of the forthcoming book, “Shadow Network: Media, Money and the Secret Hub of the Radical Right,” says she’s often asked whether she suffers when writing on fraught subjects. Her answer is always no.

“What I feel is a deep satisfaction when I get it right,” she said. “It’s the feeling when I’ve explained something in writing that I couldn’t explain to myself before I started.”

2. It can help your injuries heal faster

It may sound a little crazy, but a 2013 study found that 76% of adults who spend 50 to 20 minutes writing about their thoughts and feelings for three consecutive days two weeks before a medically necessary biopsy were fully healed 11 days after. Meanwhile, 58% of the control group had not fully recovered.

“We think writing about distressing events helped participants make sense of the events and reduce distress, thus helping the body to heal faster,” Elizabeth Broadbent, professor of medicine at the University of Auckland in New Zealand and co-author of the study, said in an interview with Scientific American.

3. It can improve your problem-solving skills

When you encounter a difficult problem, removing the situation from your mind and putting it down on paper encourages you to look at things from different angles and brainstorm several solutions in a more organized manner.

A classic 1985 study from the School Science and Mathematics Association, for example, found that students who wrote about their math problems in a journal (e.g., describing the problem and writing about how they came up with the answer) had significantly improved test scores over time.

4. It can help you recover from traumatic experiences

There are no rules as to how or what you must write about. Creative writing, such as fiction or poetry, can also be a form of journaling — and it can help you move past traumatic experiences.

Writing creatively allows you to craft a coherent narrative and shifting perspective, according to Jessica Lourey, a tenured writing professor, sociologist and author of 15 books, including “Rewrite Your Life: Discover Your Truth Through the Healing Power of Fiction.”


Company: cnbc, Activity: cnbc, Date: 2019-07-25  Authors: kabir sehgal, contributor deepak chopra, deepak chopra
Keywords: news, cnbc, companies, dayand, journaling, minutes, journal, prompts, write, study, sense, writing, feelings, youre, 15, help, traumatic, thoughts, started, surprising, benefits


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