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The longtime VC firm just announced a new $250 million seed fund focused on AI. In tough economic times, the firm's leader, Navin Chaddha, believes it's a prime time to invest. That has essentially been Navin Chaddha's mantra since he took over the reins at venture-capital stalwart Mayfield Fund in 2009. With a dedicated $250 million AI seed war chest, Mayfield is now prepared to lean in even more. "We believe that AI will emerge as our teammate and that the Gen.AI wave will create many iconic companies," Chaddha said in a press release.
Persons: Mayfield, Navin Chaddha, it's, Navin, that's, Chaddha, – who's, Forbes, , Vijay Reddy, Reddy Organizations: VC, Mayfield Fund, Mayfield, Tiger, Insight Partners, Clear Ventures, Intel Capital, Wing Venture Locations: Bessemer, Sequoia
Taiwan chipmaker UMC sees 'uncertain' demand, gearing up for AI
  + stars: | 2023-07-26 | by ( ) www.reuters.com   time to read: +2 min
SummaryCompanies Wafer demand 'uncertain' in Q3UMC says gearing up to meet AI demandQ2 revenue -21.9% y/y, +3.8% q/q2023 capex guidance unchanged at $3 blnTAIPEI, July 26 (Reuters) - Taiwanese chipmaker United Microelectronics Corp (UMC) said on Wednesday that it sees "uncertain" demand in the third quarter but stuck to its 2023 capital spending plans as its gears up to meet customer demand for artificial intelligence (AI). The semiconductor industry has come under pressure as global economic woes dent demand for chips used in everything from cars to cellphones. "Looking into the third quarter, wafer demand outlook is uncertain given prolonged inventory correction in the supply chain," he added. However, the company kept its guidance for capital spending this year at $3 billion, compared with $2.7 billion for last year. "We are gearing up to offer the necessary silicon interposer technology and capacity to fulfil emerging AI market demand from customers," Wang said.
Persons: TSMC, Jason Wang, Wang, UMC, Ben Blanchard, Christina Fincher Organizations: United Microelectronics Corp, chipmaker, Qualcomm Inc, Germany's Infineon, UMC's, Thomson Locations: TAIPEI, U.S, UMC's Taipei, Taiwan
Chinese auto startup XPeng unveiled its fifth electric model in April at the Shanghai auto show — and it's shaping up to be a pain for Tesla and Elon Musk. The XPeng G6 electric SUV. XPengOn Wednesday, it got some extra dough to make its Tesla-topping dreams come true as Volkswagen announced plans to invest $700 million into its partnership with Xpeng, eventually holding just under 5% of the company.
Persons: Tesla, Elon Musk Organizations: Volkswagen, Xpeng Locations: Shanghai
Four leading artificial intelligence companies launched a new industry group on Wednesday to identify best safety practices and promote the technology's use toward great societal challenges. The group underscores how, until policymakers come up with new rules, the industry will likely need to continue to police themselves. Anthropic, Google , Microsoft and OpenAI said the new Frontier Model Forum had four key goals, which Google outlined in a blog post:1. Advancing AI safety research to promote responsible development of frontier models, minimize risks, and enable independent, standardized evaluations of capabilities and safety. Identifying best practices for the responsible development and deployment of frontier models, helping the public understand the nature, capabilities, limitations, and impact of the technology.
Persons: Satya Nadella, OpenAI, Chuck Schumer Organizations: Microsoft, Google, Frontier, CNBC, YouTube Locations: Redmond , Washington, coders, India
Chien-Shiung Wu was a Chinese physicist who was instrumental to the Manhattan Project. Chien-Shiung Wu is a physicist who broke through both gender and racial barriers in 1940s America, wowing the science community with her significant contributions to the Manhattan Project. Like many other scientists involved in the project, Wu later distanced herself from the Manhattan Project due to its destructive outcome. Robert W. Kelley/Contributor/Getty ImagesWu's legacyAfter the Manhattan Project, Wu continued to advance the science community's understanding of nuclear physics. Wu was later awarded the first Wolf Prize, considered the second most prestigious award after the Nobel Prize, in 1978.
Persons: Wu, Wolf, Christopher Nolan's, Oppenheimer, Wu's, Madame Curie, Ernest Lawrence, J, Robert Oppenheimer, weren't, Lawrence, Wu —, Emilio Segrè, Marie Curie, Luke Yuan, East Coast . Wu, Brode, Wallace Brode, Enrico Fermi, Robert W, Kelley, , Y.K, Lee, Bettmann Organizations: Manhattan, Physics, Service, University of Michigan, University of California, Princeton University, Science, Smithsonian Institution, Manhattan Project, Columbia University, Los Alamos, Columbia Locations: Chinese, Wall, Silicon, America, Jiangsu, China, Republic of China, United States, Michigan, Berkeley, Italian, East Coast ., Los, Manhattan
LONDON, July 26 (Reuters) - Consumer companies and economists have said sentiment in China is slower than expected, but that's not stopping them from buying more condoms, Durex maker Reckitt said on Wednesday. British consumer goods giant Unilever (ULVR.L) said on Tuesday that China's declining property market and exports had sent its consumer sentiment to a historic low, having earlier this year forecast a Chinese "consumption boom". Globally, the portfolio grew by high-single digits, and in China Reckitt saw "the benefit of re-opening post COVID-related lockdowns." Reckitt has a new Taicang, China-based production facility, according to its website, set to "produce our thinnest Durex polyurethane condoms ever" for that market. "The site will produce the thinnest Durex PU condoms in history and will be committed to the continuous improvement of new technologies for PU condoms."
Persons: Reckitt, China Reckitt, Nicandro Durante, Richa Naidu, David Evans Organizations: Consumer, Unilever, Thomson Locations: China
I was in the sixth grade when a book changed me. I was already a voracious reader, and I loved mysteries and thrillers. I hadn’t encountered an unreliable narrator and the lingering impact of an unsettling ending in the books I’d read before this one. They could change the way you looked at the world and how you viewed yourself in that expanded, powerful universe. thrillers that tackle social issues, each of which provides entry points for larger discussions.
Persons: Robert Cormier’s, Adam Farmer’s, I
Here's why my cofounder and I decided to go with Neo and turned down a spot in Y Combinator. We also worked at another YC company, Fractional, after that too. So we changed ideas, and I think YC was maybe not too happy about that. I do think YC, outside of Silicon Valley, is still a bigger name, and there's a huge number of unicorns that have come out of there. If you're a B2B company, YC is probably a better buy, because YC's network can be great for finding new customers.
Persons: Combinator, Wesley Tian, Ali Partovi, scrappy, Neo's, Reid Hoffman, Erik Goldman Organizations: YC Locations: Aragon, Silicon Valley, Oregon
“Everybody back up!” someone called to a crowd of people surrounding the model and actress Christie Brinkley, who was standing near a neatly trimmed lawn on a sunny and hot Saturday afternoon. Ms. Brinkley had just arrived at Polo Hamptons, an annual cocktail party and polo match held over two weekends in July on the sprawling, private Fishel estate in Bridgehampton, N.Y.“I’ve always gone to polo throughout my time out here because it is so East Coast,” said Ms. Brinkley, 69, as she sipped from a small bottle of rosé from Bellissima, her wine label, which people were also drinking nearby. “And there are usually some cute polo players.”The event on Saturday, which drew more than 900 people, was organized by Social Life magazine, a lifestyle publication based in the Hamptons that was celebrating its 20th anniversary. The afternoon attracted a crowd that included Jean Shafiroff, the philanthropist, Lizzie Asher, the president of Macchu Pisco, a spirits company, and Maria and Kenneth Fishel, who own the estate.
Persons: Christie Brinkley, Brinkley, “ I’ve, , Jean Shafiroff, Lizzie Asher, Macchu, Maria, Kenneth Fishel Organizations: Polo Hamptons, Social, Hamptons Locations: Bridgehampton, East, Bellissima,
Rex Heuermann, the Long Island architect charged in the Gilgo Beach serial murder case, kept 279 weapons in his rundown home, most of them in a basement vault big enough to walk into, the authorities said on Tuesday. Mr. Heuermann had lived with his family in the dilapidated one-story house with the unkempt yard on First Avenue in Massapequa Park, N.Y., for years, commuting to his architectural consultancy in Manhattan. As they’ve worked, the house has become something of a tourist attraction for true crime fans and a daily encampment for news crews covering the case. Mr. Heuermann has been charged with killing Amber Lynn Costello, 27; Melissa Barthelemy, 24; and Megan Waterman, 22. He is the prime suspect in the murder of Maureen Brainard-Barnes, 25.
Persons: Rex Heuermann, Heuermann’s, Raymond A, Tierney, Heuermann, they’ve, Amber Lynn Costello, Melissa Barthelemy, Megan Waterman, Maureen Brainard Locations: Suffolk County, Massapequa Park, N.Y, Manhattan, Gilgo, Shore, Barnes
Los Alamos National LaboratorySituated 7,300 feet above sea level and roughly 35 miles from Santa Fe, the Los Alamos site seemed ideal for a secret laboratory. Constant constructionCompared to the Chicago labs, where some of the work on the Manhattan Project was being done, Los Alamos was starting from scratch. The commissary is where many Los Alamos residents did most of their grocery shopping during the Manhattan Project. Mary Palvesky is the daughter of Harry Palevsky and Elaine Sammel, who both worked at Los Alamos during the Manhattan Project. After the US dropped the bombs, the site became the Los Alamos National Laboratory.
Persons: J, Robert Oppenheimer, he'd, Oppenheimer, Abraham Pais, Laura Fermi, Enrico Fermi's, Robert Wilson, Leslie Groves, John Henry Manley, would've, McAllister Hull, Richard Feynman's, Groves, you'd, Robert Serber, Serber, John Manley, Leon Fisher, Phyllis, Emile Segré, Leon, Phyllis Fisher, wouldn't, Ruth Marshak, Elsie McMillan, Enrico Fermi, Jane Wilson, Charlotte Serber, Kitty Oppenheimer, Los Alamos, Lucie Genay, they'd, Edward Teller, Bernice Brode, Robert Brode, Jean Bacher, Thomas Mann's, Fisher, Mary Palvesky, Harry Palevsky, Elaine Sammel, Palvesky, Joseph Rotblat, Hans Bethe, Pavlevsky, Bethe, couldn't, Marcos, Maria Gómez Organizations: Manhattan Project, Service, Manhattan, Trinity Test, Los Alamos National Laboratory, Los Alamos National, Los Alamos Ranch School, Manhattan Project . National Security Research, Los Alamos, Alamos lab's Tech Area, National Security Research Center, Residents, Carpenters, Tech, Security Research, Los, Nuclear Weapons Industry, couldn't, Trinity, Chicago Met Lab, Japan Locations: New Mexico, Los Alamos, Wall, Silicon, Alamos, Santa Fe, Chicago, Los, Mexican, Hiroshima, Nagasaki, Berkeley, New York
The Bolt does not align with GM's long-term EV technology strategy, but it is the Detroit automaker's best-selling and most affordable EV in North America, by far. Barra and GM officials did not say how much the new Bolt would cost or where it would be built. For GM, the Bolt has been the mainstay for its North American EV sales. In the first six months of this year, U.S. Bolt sales totaled 33,659 vehicles, outselling Ford's Mustang Mach-E, Hyundai's Ioniq 5 and other EVs from established automakers. Bolt sales rebounded this year after GM was forced to halt production of the car for nearly six months to fix problems linked to battery fires.
Persons: Rebecca CooK, Mary Barra, Barra, Sam Fiorani, EVs, Sandy Munro, Elon Musk, Fiorani, Bolt, Paul Lienert, Joseph White, Nick Zieminski Organizations: North American, REUTERS, General Motors, Chevrolet Silverado EV, Chevrolet, Detroit, GMC Hummer EV, GM, AutoForecast Solutions, Barra, Bolt, Munro & Associates, UAW, Thomson Locations: Detroit , Michigan, U.S, North America, United States, Ohio, Michigan, Orion, Detroit
Elon Musk announced Saturday that Twitter would be rebranding to X, replacing its bird logo and doing away with identifiable phrases like "tweet." Many Twitter users aren't totally on board with the move, resulting in CEO Linda Yaccarino's verbose statement being compared with a cringeworthy business pitch featured in "Succession." Kendall Roy, played by Jeremy Strong, describes it as "Substack meets Masterclass meets The Economist meets The New Yorker." Noah Shachtman, the editor-in-chief of Rolling Stone, quipped: "[Kendall Roy voice] It's, y'know, Venmo meets Clubhouse meets Ebay meets ChatGPT." "Enjoyable to imagine Kendall Roy saying this to investors," said another tweet, which has been seen 2 million times.
Persons: Elon Musk, Linda Yaccarino, Linda Yaccarino's, China's WeChat, It's, Roy, Kendall Roy, Jeremy Strong, Substack, Masterclass, Noah Shachtman, Rolling Stone, Bailey Carlin, Kendall, didn't Organizations: Rolling, Ebay, Twitter Locations: we're
Steve Eisman of "The Big Short" revealed a mistake he's made when trying to deploy his strategy of betting against stocks that made him famous. He said the failure of that trade made him realize the challenge of betting against a stock that doesn't trade on fundamentals. "The hardest thing that I have found over the years, is trying to short cult stocks, or meme stocks, they seem to go up on nothing," Eisman said on CNBC's " Squawk Box. " His success was chronicled in Michael Lewis' "The Big Short," and the subsequent Oscar-winning movie based on the book. Eisman said he was shocked by the stock's rally despite the EV company's drastic price cuts recently.
Persons: Steve Eisman, he's, Neuberger Berman, Eisman, shorting, Michael Lewis, Elon, Jim Chanos, Tesla, it's Organizations: Tesla Locations: United States
Elon Musk said Sunday that X.com had started redirecting users to Twitter. The website was previously used for PayPal before Musk bought back the domain in 2017. Elon Musk's rebranding of Twitter to X has already suffered its first glitch, as users report the x.com website doesn't work properly. The world's richest person announced Sunday that the domain, which Musk previously used for PayPal, had started redirecting users to Twitter. Some Twitter users said they encountered other glitches with the new domain, like the server IP being unsecure or not located, and even a file being downloaded.
Persons: Elon Musk, X.com, Musk, Elon, Brian Merchant, Ryan Mac, Jack Dorsey, Christopher Stanley, Dorsey, Dorsey doesn't, x.com didn't, Peter Thiel's Confinity Organizations: Twitter, PayPal, Morning, Elon Musk's, Los Angeles Times, New York Times, eBay, eBay Inc
The study — by Opportunity Insights, a group of economists based at Harvard who study inequality — quantifies for the first time the extent to which being very rich is its own qualification in selective college admissions. The result is the clearest picture yet of how America’s elite colleges perpetuate the intergenerational transfer of wealth and opportunity. Less than 1 percent of American college students attend the 12 elite colleges. For the several elite colleges that also shared internal admissions data, they could see other aspects of students’ applications between 2001 and 2015, including how admissions offices rated them. Share of admitted students who were recruited athletes at selected elite colleges Recruited athletes at elite colleges were much more likely to come from the highest-earning households.
Persons: , Susan Dynarski, Raj Chetty, John N . Friedman of Brown, David J . Deming, Christopher L, , Neil Gorsuch, didn’t, Ivy, Dynarski, Pell, You’re, Michael Bastedo, Bastedo, John Morganelli, don’t, It’s, you’re, Jana Barnello, Stuart Schmill, “ It’s Organizations: Elite College, Ivy League, Opportunity, Harvard, Stanford, Duke, University of Chicago, Harvard Graduate School of Education, Princeton, Notre Dame, Public, University of Texas, University of Virginia, Fortune, University of Michigan, New York Times, Dartmouth, University of Michigan’s School of Education, Cornell, College Board, Brown, University of California Locations: M.I.T, America, Northwestern, N.Y.U, Austin, United States, California, U.C.L.A
Did the world need Arizona Iced Tea-branded Adidas sneakers marketed for 99 cents? Did they attract so many potential buyers that the New York Police Department had to shut the sale down at the pop-up store selling them? The “Barbie” marketing team absolutely understands this, and the absurd brand-collaboration drops have spread with the speed of the 1854 cholera outbreak in London. There’s a real-world Barbie dream house on Airbnb, Barbie Krispy Kreme doughnuts, Barbie rugs and a Barbie Xbox. Surprisingly, there is no Barbie Pepto Bismol, which seems like a natural fit in terms of existing I.P.
Persons: Robert Oppenheimer, Taylor Swift, Barbie, There’s, Oppenheimer, Barbie ”, “ Oppenheimer, launders Organizations: “ Raiders, Adidas, New York Police Department Locations: Arizona, London
The White House plans to use a little-known law to keep Acting Labor Secretary Julie Su in the job even if she fails to win Senate approval, a White House official told NBC News. "Upon Secretary Walsh's departure, Acting Secretary Su automatically became Acting Secretary under its organic statute, not under the Federal Vacancies Reform Act," the White House official said in an email. "As a result, Su is not subject to the time limits of the Federal Vacancies Reform Act and she can serve as Acting Secretary indefinitely." But Su's nomination for labor secretary has since stalled in the Senate, where Democrats control 51 votes and expect unified Republican opposition. "The President's support for Acting Secretary Su is unwavering," the White House official said.
Persons: Julie Su, Walsh's, Su, Marty Walsh, Sen, Joe Manchin, Kyrsten Sinema, hasn't, Joe Biden, Biden, Julie Su's, Bill Cassidy, Kevin McCarthy, Mitch McConnell, Donald Trump, Chuck Schumer, — Elyse Perlmutter, Gumbiner Organizations: Education, Department of Labor, White, Labor, NBC, Federal, White House, NBC News, Senate, Health, Pensions, GOP, Republican, Democratic, Wednesday Locations: Rayburn, Ky
The American militia men were hidden in the bushes having lunch and playing cards when they heard the horse galloping toward them. He was Maj. John André, head of British secret intelligence. He had only received the information two days earlier from Benedict Arnold, the commander of the fort, and André now was riding south in the hope of getting back behind the British lines. But the militia men, John Paulding, David Williams and Isaac Van Wart, questioned André, realized he was a spy and arrested him. West Point was never attacked, André was later hanged and Arnold, whose name became synonymous with treason, fled.
Persons: John André, “ John Anderson, , Benedict Arnold, André, John Paulding, David Williams, Isaac Van, Arnold Locations: Tarrytown, N.Y, West
Hearst Magazines implemented layoffs Thursday affecting dozens of employees across its portfolio. Insider obtained the full memo from the president of Hearst Magazines announcing the news. Hearst Magazines Media Union tweeted that 41 of its members were laid off due to "company restructuring." Change can be difficult but it is necessary as we pave the way forward as a digital-first media company. Thank you all for your dedication as we work together to build the future for Hearst Magazines.
Persons: we're, Debi Chirichella, Hearst, , Hearst Magazines Media Union, Chirichella, Slack, I'm, You'd, he'd, Jessica Giles, EIC Kristin Koch, It's, we've, Reed Alexander, Lucia Moses, lmoses, Alison Brower, Dan Whateley Organizations: Hearst, Hearst Magazines, Cosmopolitan, Hearst Magazines Media, Hearst Union, Twitter, Fashion
Including the $7,500 Biden tax credit, the price is down 35%. "Tesla's manufacturing tax credits should help to at least partially offset some of the price cuts Tesla had to implement to spur demand," Morningstar analyst Seth Goldstein said in an interview. Reuters GraphicsDespite benefiting from the tax credits, Musk has criticized U.S. President Joe Biden and many of his policies and called for subsidies to be eliminated. Many analysts exclude the regulatory credits Tesla collects from other automakers, but include the Biden manufacturing credits, when calculating its underlying profit margin. Tesla's quarterly automotive gross margin, excluding the regulatory credits, fell to 18.1% in the second quarter from 26% a year earlier.
Persons: Elon Musk, Musk, Tesla, Morningstar, Seth Goldstein, Joe Biden, Zach Kirkhorn, Biden, Hyunjoo Jin, Kevin Krolicki, Richard Chang Organizations: Cox Automotive, Panasonic, Benchmark, General Motors, LG Energy, Reuters, U.S, Thomson Locations: SEOUL, United States, China, U.S, Nevada, Texas
A New Spin on Spin: Reviving a Bolognese Folk Dance
  + stars: | 2023-07-21 | by ( Brian Seibert | ) www.nytimes.com   time to read: +1 min
Two men arrive on the dance floor, holding hands. This is the polka chinata, or crouched polka, a nearly defunct Bolognese folk dance. He had made other works using folk dance, but he had never heard of an Italian couple dance for men. He sought out Giancarlo Stagni, a dance teacher in Castel San Pietro Terme, near Bologna. Stagni told him that the number of people who danced the polka chinata had shrunk to just five.
Persons: , Alessandro Sciarroni, Sciarroni, , Giancarlo Stagni, Stagni Locations: Italian, States, PS21, Chatham , N.Y, Italy, Castel San Pietro Terme, Bologna
July 19 (Reuters) - Tesla (TSLA.O) CEO Elon Musk signalled on Wednesday that he would cut prices again on electric vehicles in "turbulent times", even as his all-out price war on automaker rivals squeezes the company's own margins. The large price cuts have pressured Tesla's automotive gross margin, a closely watched indicator in the industry, but Musk has said Tesla would sacrifice margin to drive volume growth. As an example, Tesla this year cut U.S. prices of its Model Y long-range version by a quarter to $50,490. In 2020, Musk unveiled a plan to produce Tesla's own EV batteries called "4680" cells. Tesla said production of the long-delayed electric pickup Cybertruck remained on track for initial deliveries this year.
Persons: Elon Musk, Musk, Tesla, Thomas Martin, Akash Sriram, Hyunjoo Jin, Abhirup Roy, Peter Henderson, Joe White, Sayantani Ghosh, Matthew Lewis, Sam Holmes Organizations: Globalt Investments, EV, Ford, General Motors, Reuters, Thomson Locations: United States, China, Texas, Bengaluru, Hyunjoo, San Francsico
On the evening of June 2, 2020, Sabrina Zurkuhlen joined a protest march on the West Side Highway that was spurred by the death of George Floyd in Minneapolis eight days earlier. An officer pointed at her, the lawsuit said, lunged at her, knocked the phone from her hands and began striking her with a baton as he tackled her. That summons was later dismissed, the suit said, adding that she never recovered her phone. On Wednesday, the City of New York agreed to pay about $13.7 million to settle the class-action suit, which said that unlawful police tactics had violated the rights of protesters over several days in late May and early June of 2020. officers” at 18 specific locations in Manhattan and Brooklyn.
Persons: Sabrina Zurkuhlen, George Floyd, Zurkuhlen, lunged, , N.Y.P.D, Organizations: Court Locations: Minneapolis, Vesey, Manhattan, City of New York, Brooklyn
KUALA LUMPUR, July 20 (Reuters) - Malaysia has issued a license to Starlink, the satellite communications service started by Elon Musk, to provide internet services in the country, particularly in remote areas, its communications minister said on Thursday. Minister Fahmi Fadzil said in a Facebook post that Starlink, which is operated by Musk's SpaceX, would begin by providing its services to schools and higher education institutions. The government was also prepared to work with satellite communications firms, including Starlink, to ensure 100 percent internet coverage in populated areas, Fahmi said. Around three percent of populated areas in Malaysia face issues with internet access, due to geographical and infrastructure challenges, he added. The government earlier this year announced that his electric vehicle (EV) maker Tesla (TSLA.O) would open an office in Malaysia.
Persons: Elon Musk, Fahmi Fadzil, Fahmi, Anwar Ibrahim, Tesla, Rozanna Latiff, Hasnoor Hussain, Kanupriya Kapoor Organizations: Elon, Musk's SpaceX, Malaysian, Thomson Locations: KUALA LUMPUR, Malaysia, Kuala Lumpur
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