Elon Musk says Tesla will Stop Accepting Bitcoin for Car Purchases, Citing Environmental Concerns

Tesla CEO Elon Musk said Wednesday on Twitter that Tesla has “suspended vehicle purchases using bitcoin,” out of concern over “rapidly increasing use of fossil fuels for bitcoin mining.” The price of bitcoin dropped about 5% in the first minutes after Musk’s announcement. In an SEC filing in February, Tesla revealed that it bought $1.5 billion worth of bitcoin and it may invest in more of bitcoin or other crypto currencies in the future. At that time, the company said it would start accepting bitcoin as a payment method for…

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RBI grants PPI authorisation to Eroute Technologies

The Reserve Bank of India (RBI) has granted authorisation to Eroute Technologies to operate as a prepaid payment instruments (PPI) company. The RBI issued authorisation on May 10, 2021, to Eroute Technologies Pvt Ltd with perpetual validity to commence issuance and operations of semi-closed pre-paid instruments in the country, the company said in a statement on Wednesday. The Noida-based firm said the RBI authorisation will enable it to launch its payment solutions at scale independently unlike neo banks and other bank-led fintech companies. PPIs are instruments that facilitate purchase of…

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Amazon wins $303 million tax case in European Union

Brussels: Europe’s second-top court on Thursday annulled an EU order to Amazon.com Inc. to pay about €250 million ($303.28 million) in back taxes to Luxembourg, part of an EU crackdown against unfair tax deals between multinationals and European Union countries. The Luxembourg-based General Court said Amazon had not enjoyed a selective advantage in its tax deal with Luxembourg. “The Commission did not prove to the requisite legal standard that there was an undue reduction of the tax burden of a European subsidiary of the Amazon group,” judge said. The European…

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Princeton Alum’s Startup Raises $51 Million to Help People Plan for An Easy Retirement

Are you aware that you could boost your retirement outlook by using this new startup’s no-cost service? SmartAsset’s free, five-minute tool makes it easy to find qualified financial advisors in your area or who serve your area. Our exclusive tool matches you with up to three fiduciary financial advisors who have passed a rigorous vetting process. Unlike broker-dealers, stockbrokers and insurance agents, fiduciary advisors are legally bound to work in your best financial interest. With over 110 million Americans over age 50, it’s no wonder this Princeton alum’s startup has…

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How to Use Tech to Capture Your Family History

Our elders have rich stories to share. There’s no better time than now to sit down and hit Record IN LESS THAN 10 years, one in five Americans will be over 65 years old. As our parents and grandparents age, we grow one day closer to losing the opportunity to learn their life stories. The good news is that with the various recording options available, you don’t have to be an award-winning filmmaker or videographer to preserve your loved one’s history. Throughout our Midwest childhood, my siblings and I wanted…

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Self-Driving Truck Startup Plus to Go Public Through $3.3 billion SPAC Deal

Plus said on Monday it would go public through a merger with blank-check company Hennessy Capital Investment Corp. V in a deal that values the self-driving truck technology startup at $3.3 billion. The combined company will get proceeds of $500 million from the deal, including a private investment of $150 million. Investors in the deal include BlackRock and D.E. Shaw group, among others. In February, Plus raised $200 million in a funding round, co-led by brokerage Guotai Junan International and private equity firm CPE, according to data from Pitchbook. Founded…

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Foreign Entrepreneurs to Gain More Access to Immigration Program

The Biden administration plans to revive an immigration program that lets foreign entrepreneurs work in the U.S. by withdrawing a Trump administration proposal that aimed to kill the program. The International Entrepreneur rule, proposed by President Obama’s administration three days before he left office in 2017, allows foreign entrepreneurs to work in the country for up to five years, so long as their startups attract at least $250,000 in U.S. venture capital, hire 10 employees or meet other benchmarks.

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It Began as an AI-Fueled Dungeon Game. It Got Much Darker

The game touted its use of the GPT-3 text generator. Then the algorithm started to generate disturbing stories, including sex scenes involving children. IN DECEMBER 2019, Utah startup Latitude launched a pioneering online game called AI Dungeon that demonstrated a new form of human-machine collaboration. The company used text-generation technology from artificial intelligence company OpenAI to create a choose-your-own adventure game inspired by Dungeons & Dragons. When a player typed out the action or dialog they wanted their character to perform, algorithms would craft the next phase of their personalized,…

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The Statistical Secrets of Covid-19 Vaccines

They’re really very good, and they’re the only way out of the pandemic. But a tour through the numbers could bring the vaccine-hesitant into the tent. THE CREATION AND distribution of vaccines against Covid-19 has been as close as science gets to a miracle—the culmination of centuries of infectious disease research, a mastery of viral genomics, the creation of a whole new kind of vaccinology, and speed in the face of crisis. So it’s weird that even as the global pandemic worsens (infection and death rates have gone vertical in…

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