GM Money Masters, 👋
Change is a sign of progress… or that is the idea. Tesla single-handedly made electric vehicles mainstream and has set the gold standard for the rest of the industry. However, it might have reinvented the wheel too much, and Norwegian driving instructors are not buying it.
Microsoft on the other hand, has made a simple change in PC keyboards and it is a stroke of genius! A move that could leave other AI competitors in the dust.
Let’s dive in.
MONEY MASTERY BRIEF
- Norway Driving Schools Ditch Tesla Due to Turn Signal
- Microsoft Adds New AI Button to Keyboards
- JPMorgan Launches DocLLM
- Nvidia Can Not Fade The Chinese Market
🚗 Norway Driving Schools Ditch Tesla Due to Turn Signal
Humans are creatures of habit. We do a lot of things without much thought and rely on muscle memory. When we get into our cars, we put on our seatbelts and push the correct buttons without any drama – it’s like we’re in auto mode. Tesla (NASDAQ: TSLA), whose CEO is always going against the grain, has decided that the old trusty steering wheel needed an update. Elon Musk’s company removed the usual turning stalk and replaced it with touch buttons on its newer vehicles. Norway’s driving schools think that this is a problem.
Norway is the world leader in electrical vehicle adoption, with 82% of new buyers going for EVs. Tesla is the most popular brand in the country, however, driving schools are not so happy with the newer models’ lack of turning stalks.
Jåhn Hansen Øyen, from the Harstad Traffic school, initially wanted to acquire Tesla’s for business. However, upon testing a Tesla Model 3, he immediately realized that the new turn signal buttons made him lose focus and direction in runabouts. A forum of 3,000 driving instructors also found the new setup to be less than ideal, especially for new drivers. The inability to activate the turn signal is dangerous and may also lead to fines.
In Tesla’s defense, the company believes that manually activating turn signals will be a thing of the past soon, with the arrival of self-driving vehicles – which is a good point. However, they could have just changed it when autonomous cars were already the norm. And don’t forget that some of us still enjoy driving.
By the way, check out our Tesla premium report here if you missed it.
⌨️ Microsoft Adds New AI Button to Keyboards
There is a saying that if it “ain’t broke, don’t fix it”. But Microsoft (NASDAQ: MSFT) is on the right track in its latest decision to reinvent the keyboard. For the first time in thirty years, the PC keyboard will receive a new button – an AI copilot key to be exact.
The new copilot key will help Windows users launch the Microsoft copilot with just a click. New Windows PCs will be shipped with this new dedicated feature. Dell has already included the new button in its XPS laptop series. Samsung is also reportedly putting it in its Galaxy Book. It will not be surprising that this will be the new standard soon since Windows is still the most used operating system in the world. Windows 11 alone has more than 400 million users and still growing.
In a Microsoft video, the new button was seen to be located between the alt key and the arrow keys.
Now this might seem just a standard button that is made to make our lives easier, but this can possibly help Microsoft copilot in the battle for brand recognition. Just imagine we constantly interact with our keyboards and this new button will “train” us to rely on it to launch our AI companion. This will effectively push the competition away. It is the same strategy Netflix used in our smart TV remotes. This is a big brain move and it makes you think that their AI was the one who actually suggested it. Well done, Microsoft. 👏
🤖 JPMorgan Launches DocLLM
The AI craze is not just confined to tech companies. Even bankers now see how AI can help revolutionize traditional finance. JPMorgan Chase (NYSE: JPM), the world’s largest bank by market cap, launched a large language model (LLM), DocLLM.
The new “lightweight” AI model extension was made to help better understand complex documents like forms, invoices, or reports. DocLLM helps users make sense of documents with a lot of complex information.
So what is so special about DocLLM? While most LLM models are good at analyzing words, JPMorgan’s AI is smart enough to analyze spatial layout information – a fancy way of saying that it can read words and analyze how the document is laid out. While most of us still find it hard to understand forms and documents, this smart assistant can make it look as easy as pie.
Now, if only DocLLM could analyze our taxes and find a way to lower them down to zero.
💻 Nvidia Can Not Fade The Chinese Market
The Whitehouse has been on a warpath against China for quite some time. But the spat between the two superpowers does not involve tanks, warplanes, and warships – thank goodness. The battle is being waged in the technology theater and the US is doing everything in its power to limit the flow of game-changing tech to the Asian powerhouse.
Unfortunately, chipmakers like Nvidia (NASDAQ: NVDA) are taking collateral damage because of the feud. However, the tech company has found a way to keep doing business with the country. Nvidia plans to begin mass-producing AI chips designed for the very lucrative Chinese market in the second quarter of 2024.
Nvidia is planning to mass produce the H20 chip, which is a downgraded version of flagship chips like the H100. It has fewer cores, lesser memory, and slower speed – which is probably why some Chinese customers are having second thoughts. Also in the pipeline are the L20 and L2 chips, which are all designed to comply with export restrictions.
This shows that the Chinese market is too big to ignore and tech companies can not afford to lose it.
Sadly, the two largest economies can’t seem to agree on a lot of things and export controls will probably stay for a while. Maybe we should ask AI models on how to solve this dilemma and achieve world peace in the process.
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“In three years, every product my company makes will be obsolete. The only question is whether we will make them obsolete or somebody else will.”
– Bill Gates
$34 Trillion. This is the amount of debt the US owes. That is about $101,000 for each person in the country! It will take 22 years to pay it off if each household contributes $1,000 a month. 🤯
Tesla (NASDAQ: TSLA) informed customers that the reduced range estimates for its vehicles are due to “comfort and functionality” improvements. The EV maker is also saying that “the EPA also updated their range testing guidance to ensure sticker estimates for all manufacturers more closely reflect real-world range, impacting previous range estimates for all manufacturers, not just Tesla”. The funny thing is customers are also asked to update the configuration of their pending orders or their orders will be canceled. Full story
Microsoft (NASDAQ: MSFT) and OpenAI are being sued by authors over AI training. Non-fiction writers Nicholas Basbanes and Nicholas Gage said that the tech companies infringed their copyrights by including their works as part of the data in training ChatGPT. The New York Times and other writers have filed legal actions over the same issue. Full story
General Motors’ (NYSE: GM) Cruise Robotaxi offered to pay $75,000 to end an investigation by the California Public Utilities Commission. The regulator is accusing the company of misleading the commission about the extent of an accident that involved a Cruise self-driving vehicle last October. The carmaker is also offering to improve its ability to report collisions and accidents. Full story
Apple (NASDAQ: AAPL) is allegedly delaying the release of its second-generation AirTag because of an overstock of the first-generation tracking device. The tech giant originally planned to release the new version in 2024, but it is now slated for 2025. The device has gained popularity because it is a cost-effective way to track lost personal items. Full story
Honda (NYSE: HMC) is considering building an EV factory in Canada. The $14 billion project includes in-house battery production. The Japanese automaker is looking at several potential sites, which include an existing plant in Ontario. The new EV plant is expected to start as early as 2028. Full story
Jerry, the AllCar app just recently released the 2024 State of the American Driver Report. The company surveyed 1,200 drivers and found that Tesla is the top choice for 32% of all respondents.
Despite all the controversies surrounding Tesla and its boss Elon Musk, it is still the EV of choice for most Americans. It is possibly because Tesla is considered to be the pioneer and it has gained brand recognition. Add the fact, that its CEO is very outspoken and is always in the spotlight. It just shows the power of marketing.
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Thanks for reading, and may your investments thrive. 🙂