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[ad_1] Tesla's directors have agreed to return more than $700 million to the company after fielding accusations they grossly overpaid themselves, marking one of the largest corporate settlements in history, Reuters reported.  The settlement, which was filed in the Delaware Chancery Court on Monday, shows the board members have made a deal to give back $735 million to the electric vehicle company, including $3.1 million in stock options, according to the news service. The directors have also agreed to enact corporate-governance changes to how board members' compensation issues are assessed, Bloomberg Law reported . The agreement concludes a lawsuit filed in 2020 alleging Tesla's directors "breached their fiduciary duties by awarding themselves excessive and unfair compensation," a  filing  shows. The directors, including Tesla CEO Elon Musk, Oracle Corp. co-founder Larry Ellison and Musk's brother, Kimbal Musk, awarded themselves roughly

[ad_1] A little-known consumer advocacy group chose an unusual — and expensive — way to draw attention to what it sees as the threat to life and limb posed by Tesla vehicles' "Full Self-Driving" system: It bought a Super Bowl ad. During Sunday's broadcast of Super Bow LVII , a spot from The Dawn Project said Tesla's self-driving technology is built on "woefully inept engineering" that poses a treat to pedestrians and drivers. The software also can cause the electric car maker's vehicles to swerve into oncoming traffic or drive on the wrong side of the road, the nonprofit group claims.  "Tesla has known for more than six months that its Full Self-Driving software will run down a child in a crosswalk, along with hundreds of other critical safety defects reported by us and other beta testers," The Dawn Project's Founder Dan O'Dowd said in a statement Sunday.  He also urged the federal N

[ad_1] New Delhi:  Nothing smartphone maker company founder CEO Carl Pei has shared his predictions for 2023. Some of the predictions are terrific in the 10-points list. He believed that humanity will see one AI killer app in 2023. He added that we hadn’t seen nothing yet. ALSO READ |  From Apple Ultra Watch to Meta VR headset; Top 5 gadgets that grabbed attention of Indians in 2022 - In PICS Here are his all 10 predictions. At least one AI killer app will emerge (we haven’t seen nothing yet). Tesla becomes just another car brand, as traditional car brands catch up. Twitter does really well due to Elon spending lots of time on it. The metaverse remains far from mass adoption. …But Mark turns things around at Meta by running a tighter ship. Apple shares go up because it’s a very high quality business. The smartphone keeps getting stronger as a distribution tool for software and services. World governments make tougher moves against Apple and t

[ad_1] Planetary scientist Alan Stern, who spearheaded NASA's New Horizons mission to Pluto, enjoyed a spaceflight of his own Thursday, soaring to the edge of space and back aboard Virgin Galactic's winged spaceplane, chalking up the company's fifth commercial sub-orbital flight . Stern, researcher and STEM "influencer" Kellie Gerardi, Italian investment manager Ketty Maisonrouge, two Virgin Galactic pilots and a company trainer were carried aloft by a carrier jet that released the Unity spaceplane at an altitude of about 44,700 feet above the New Mexico desert. The hybrid motor powering Virgin Galactic's Unity spaceplane ignites high above New Mexico Thursday, propelling the craft to the lower edge of space in the company's tenth sub-orbital flight out of the discernible atmosphere. Virgin Galactic At the controls were Unity commande

[ad_1] A Tesla showroom is seen in the City Center shopping center on January 17, 2023 in Washington, DC. Anna Moneymaker | Getty Images DETROIT — Tesla vehicles in the U.S. are seeing significant price cuts, and that's proving to be a double-edged sword for the electric carmaker and the greater automotive industry. Tesla earlier this month slashed prices of its new cars by as much as 20% , making the vehicles more affordable and likely eligible for federal tax credits . But it also tanks the resale values of cars for current owners and is sending ripple effects through the auto industry. related investing news CEO Elon Musk hasn't directly addressed the price cuts, which are counterintuitive to his claims that the company's cars will be appreciating assets — a rarity for the market aside from classics and collectible vehicles. Analysts say the price cuts suggest Tesla is prioritizing sales over profits, potentially signaling a demand problem. "There's deman

[ad_1] Podcaster and comedian Joe Rogan. Vivian Zink | SYFY | NBCUniversal Spotify has signed a new blockbuster deal with polarizing podcaster and comedian Joe Rogan, but this time, his show won't be exclusive to Spotify, the company announced Friday in a news release. The multiyear deal with Rogan, the founder of "The Joe Rogan Experience," is said to be worth about $250 million, according to The Wall Street Journal, which first reported on the deal. The show was the No. 1 podcast in the U.S. for the third quarter of last year, according to Edison Research . Spotify also said it's expanding the partnership to allow the show to be available on other platforms. Shares of the audio streaming giant rose roughly 1.5% Friday. Spotify first brought "The Joe Rogan Experience" to its platform exclusively in 2020 in a deal that was reportedly worth more than $100 million. The talk-show style podcast is known — and often criticized for — its edgy approach and g

[ad_1] Expert analyzes the rise of more affordable electric vehicles - CBS News Watch CBS News Tom Narayan, the lead equity analyst for Global Autos at RBC Capital Markets, joins CBS News' Lilia Luciano and Tony Dokoupil to discuss why automakers are rolling out more electric vehicles and who is eligible for tax credits connected to their purchase. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On [ad_2] Source link https://worldnews2023.com/economy/expert-analyzes-the-rise-of-more-affordable-electric-vehicles/?feed_id=294106&_unique_id=660370ed81636

[ad_1] New Delhi:  Tech billionaire Elon Musk has praised teenage-environmentalist Great Thunberg. He called her cool and was astounding for the sheer amount of brand awareness achieved by her in a few years. Musk was replying on a post sharing the news story about the New Greta Thunberg thermostat that scowls at you when you turn the heat up. ALSO READ | ' One AI Killer app will emerge...': Nothing founder makes predictions for 2023 “The sheer amount of brand awareness achieved by Greta within a few years is astounding. I think she’s cool tbh,” he replied on the Babylon bee tweet. The sheer amount of brand awareness achieved by Greta within a few years is astounding. I think she’s cool tbh. — Elon Musk (@elonmusk) December 30, 2022 Teenage environmentalist Greta Thunberg was in headlines due to her row with online influencer Andrew Tata. The latter had sent him a video bragging about his 30 cars-collection and challenged her to do something. Greta replied A

[ad_1] X, the social media platform formerly known as Twitter, is now worth an estimated 71.5% less than it was when Elon Musk  purchased the platform in Oct. 2022 , according to a Fidelity securities filing dated Dec. 30, 2023. The asset management firm, which owns an equity stake in the company under X Holdings Corp.,  previously slashed X's valuation to a third of Musk's $44 billion purchase price in May of last year. The new valuation from  Fidelity's Blue Chip Growth Fund , which reported data through Nov. 30, 2023, estimates that its shares of X are worth $5.3 million — down from an estimated $6.3 million in October and far from the $19.66 million valuation of its stake just prior to Musk's takeover. Elon Musk speaks onstage during The New York Times Dealbook Summit 2023 on November 29, 2023, in New York City.  Slaven Vlasic/Getty Images for The New York Times

[ad_1] A Science employee at work in the lab. Courtesy: Science Corporation Biotechnology startup and Neuralink competitor Science on Monday launched a new platform that aims to make it easier for other companies to quickly develop and produce medical devices.  The platform, called Science Foundry, allows companies to utilize and build upon Science's internal infrastructure by offering access to more than 80 of its tools and services, like the company's thin-film electrode technologies. The cost of the technology required to develop medical devices is often "prohibitive" for early-stage startups, Science Co-Founder and CEO Max Hodak told CNBC in an interview. Individual tools can cost anywhere from $200,000 to $2 million, and Hodak said companies could easily spend hundreds of millions building a manufacturing line.  For many startups, that cost is too much to bear, but Hodak is hoping Science Foundry can help. "Hopefully, we bring down the barriers to innov