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A start-up at Stanford University worth millions, could be India’s Unicorn Tech

"When we started this 12 months ago, every conversation we had was saying, 'You’re completely out of your mind, this is never going to work,'" said teen CEO Adit Balecha.

However, Palicha has been able to prove these skeptics wrong – it has now approached the case of the unicorn and it is one of India’s fastest growing fast-trading apps. The Unicorn Corporation is a startup valued at over $1 billion.

Zepto is a startup that promises to deliver groceries in less than 10 minutes. Despite being just one of the many companies that joined instant trade The wave, has already caught the attention of investors.

Its last cash injection of $200 million in May 2022 valued the company at $900 million, just nine months after its launch.

We figured this was just a more exciting opportunity than studying at a high-end university.

Edith Balecha

Co-founder and CEO, Zepto

Its rapid growth is led by Palicha and Kaivalya Vohra, two 19-year-olds who left Stanford University to pursue their entrepreneurial dreams.

“At that point, we had already expanded our annual revenue to $2 million. We said this was an opportunity to raise a significant amount of capital, the product had become a fit for the product market,” Balicha said. CNBC Make It.

"How many people in their lives get the chance to build a potential generation company? We’ve discovered that this is just a more exciting opportunity than studying at a prestigious university."

45 to 10 minutes

The idea for Zepto came about in July 2021 – when childhood friends were stuck at home in Mumbai, in the middle of covid-19 pandemic and nationwide insurance.

in time, The demand for delivery services has increased Where many stayed at home.

"Online Grocery [would] Delivery takes six or seven days, and offline options are closed or practically unavailable. “It was very difficult for us to get groceries,” said Balecha, CEO of Zepto.

"We’ve had sort of similar conversations with our neighbors who have pretty much been complaining about the same problem. That’s when we said…why not try to build a solution for people in our area?"

If you look at all the other major categories of e-commerce… you take them all and combine them, they are a small part of the grocery market.

Edith Balecha

Co-founder and CEO, Zepto

But Palicha and Vohra were no strangers to the instant grocery delivery business. In 2020 – at just 17 years old – they started KiranaKart, which they said delivered groceries in Mumbai in less than 45 minutes.

“Some people were getting deliveries [within] "A time frame of 10 to 15 minutes," Vohra said.

“In terms of their retention, how much they liked the platform and how often they referred to their friends, [it] It was much higher for those people who got deliveries in that time frame.”

"And that’s why we said, 'Look, maybe there’s some value in exploring that.'"

Zepto isn’t the only fast-trading startup in India, and competition is heating up both locally and globally. The country’s online grocery market is set to be worth about $24 billion by 2025, according to Redseer.

zepto

They weren’t wrong. According to research from the consulting firm Redseer, Online grocery market in India It could be worth $25 billion by 2025 and that’s an opportunity that was "too compelling to miss," Paliccha said.

"If you look at all the other major categories of e-commerce – electronics, apparel, you take them all and combine them, it’s a small part of the grocery market," he added.

Building trust and reliability

In order to fulfill grocery orders in less than 10 minutes, the duo created a network of dark stores or small distribution centers across cities.

Dark stores are closed to the public, and residential goods are only for online ordering.

“We design our network across the city, to make sure that our pick-up points are very close to population centers in a particular neighborhood,” Balicha said.

In order to fulfill grocery orders in under 10 minutes, the duo created a network of dark stores, like the one above, across cities.

zepto

“What ultimately happens is that our average delivery distances are very short, and we can consistently get deliveries done within 10 minutes.”

The startup added that the average distance for its delivery ranges from 1.7 to 2 kilometers. She added that other forms of local superconductivity could be "two to 2.5 times longer than that".

Zepto says that today it operates hundreds of darkroom stores in 10 cities in India, and employs tens of thousands of delivery drivers. Palecha added that she currently delivers "90 to 95%" of her orders between five and 20 minutes.

But speed isn’t Zepto’s only secret to retaining customers and building loyalty. The startup, whose name comes from the zeptosecond – the smallest unit of time – claimed to be adding 100,000 new users per day.

“To really retain customers in the long term, what you really need to build trust and reliability. Reliability comes in many ways,” said Vohra, who is also chief technology officer.

“Yes, we do deliver on time, but also reliability in terms of – if you order 10 things, I get exactly those 10 things. And if you order fruits and vegetables, [they’re] of the highest quality possible."

Keep the liquidity burning

Investors are also excited about the popularity of Zepto.

So far, the company has attracted $360 million from investors built p, Kaiser Permanente and Nexus Venture Partners. The latest funding round puts the company on course for a potential $1 billion valuation.

One of the key factors to the success of Zepto’s investments, Palicha said, is "operational discipline."

He added, "When we went to investors this time, we showed very clear ways to be profitable. We’ve gone from $0 in revenue about a year ago to today, and we’re making hundreds of millions of dollars in annual revenue."

"We’re still talking in terms of multiples and not percentages when it comes to our growth rate, and that’s something we’re happy to do."

From day one, we… force ourselves to be efficient to make every dollar last.

Edith Balecha

Co-founder and CEO, Zepto

Zepto claims to have been able to cut its cash-burn rate by 5 times on a per-order basis, while achieving an 800% quarter-on-quarter revenue growth.

However, the days easy money for Tech companies that burn cash They went, as high interest rates And the Investors demand more results. However, the young founders remain unfazed.

“We’re in a position where you look at the size of our balance sheet, we’ve actually got a multi-year life of capital, in the context of this downturn,” Balicha said.

“From day one,…we forced ourselves to be efficient to make every dollar last. We are able to fulfill more orders with the same amount of cash, and we can acquire more customers with the same amount of cash.”

The founders of Zepto may be young, but their conviction in their product is unwavering. “Whether it’s in front of an investor, a senior executive, or any government shareholder and regulator, you understand that what you are building is on the right side of what customers want,” said Aadit Palicha (right).

zepto

The duo said that keeping costs lower than its competitors in the high-growth technology category has given them an advantage.

“This puts us in a position where we can continue to grow sustainably, as others have been forced to… layoffsThey are dragging out their growth plans and essentially shrinking in order to survive in a market like this.”

Touching the "billion mark"?

Because of that challenging environment, Palicha and Vohra don’t rest on their laurels despite the new funding that Zepto has in the bag.

“The main focus now is just building the incremental scale that we need to break-even in key markets. Once we have a balance sheet that is now operating at break-even, we can begin to expand into new cities with more confidence and clarity,” Palicha said.

she was Previously mentioned That Zepto brings in between $200 million and $400 million in annual revenue and the founders now hope to "touch the billion mark."

Balecha added:[Zepto] It came out as a personal project between Kaivalya and [me] To see if we can solve a problem on a small scale in our area.”

"It eventually evolved into the company we are today, and we are incredibly grateful for it."

do not miss: Here’s how you can protect your career from stagnating, according to a CEO

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Physicists discover the oldest dark matter to date using microwaves

The Hubble telescope image shows a gravitational lensing next to a filter image showing where dark matter is likely to be.

Researchers have just studied the lens of the oldest light we can see and discovered the oldest dark matter observed so farsurrounding galaxies that are 12 billion years old.

They discovered this dark matter by looking at how some galaxies distort the light of the cosmic microwave background, the oldest detectable radiation just after the Big Bang, which unleashed the universe as we know it. Team research is published In physical review letters.

"Most researchers use source galaxies to measure the distribution of dark matter from the present to eight billion years ago," said Yuichi Harikan, an astronomer at the University of Tokyo’s Cosmic Ray Research Institute and co-author of the latest paper. Nagoya University Release. However, we can look back further because we used the farthest CMB to measure dark matter. For the first time, we’ve been measuring dark matter from roughly the very first moments of the universe."

Dark matter makes up about 27% of the universe, although we cannot detect it directly. Since we don’t know what it is, dark matter is really an umbrella term for this unknown mass, which we see on massive scales thanks to its gravitational effects.

An illustration of how dark matter distorts light from the cosmic microwave background.

Some of the main candidates for dark matter are Small particles called WIMPs (double massive particle interaction) and Even more small particles are called axions; It is entirely possible that both WIMPs and axions form dark matter. Searches for dark matter Ongoing, but in the meantime, astronomers can search and see its effects at huge scales.

The dark matter acts as a kind of invisible glue, Groups of galaxies together. It also acts as a lens for far light, Zoom in on old things for our observation. As much as it is a mystery, dark matter is also a boon for studying the early universe.

For this reason, when The Webb Telescope recently imaged the galaxy cluster SMACS 0723was actually looking for all the ancient galaxies zoomed in by SMACS 0723, including the oldest galaxy seen so far, which formed 300 million years after the Big Bang.

Previous work has generally looked at shorter wavelengths through a gravitational lens, Mostly objects in visible and infrared wavelengths. But the light we see from the cosmic background – the oldest light we see – is in the microwave portion of the electromagnetic spectrum. This ultra-high-energy light started out but has been stretched over time by the expansion of the universe, and today we see it just a faint glow from the microwave.

In recent work, researchers identified 1.5 million lens galaxies in visible light. Then they looked at them with a telescope that sees microwave light – the European Space Agency’s Planck satellite – and measured how much dark matter around nearby galaxies distorted ancient microwave light.

Cosmic microwave background and satellite Planck.

Study co-author Nita Bahkal, an astronomer at Princeton University, said in the same issue.

The team also found that dark matter in certain regions of space was less lumpy than it should be according to the standard theory of cosmology.

"Our discovery remains uncertain," Hironao Miyatake, an astronomer at Nagoya University and lead author of the research paper, said in the statement. "But if true, it suggests that the entire model is flawed and you go back in time. This is exciting because if the result persists after uncertainties are reduced, it could indicate an improvement to the model that may provide insight into the nature of dark matter itself."

In the future, data from the upcoming Rubin Observatory will help by accurately imaging large swaths of the night sky that makes it easier to see more ancient parts of space.

MORE: The world’s largest digital camera is almost ready to go back in time

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How manufacturers can respond to the rapid change in technology

Article by Infor A/NZ Vice President and Managing Director Jarrod Kinchington.

Change is the only constant in manufacturing today. Disruption, innovation, and continuous improvement of store floor operations are driving factors in today’s complex market landscape.

Whether a company makes commercial aircraft, office furniture, or industrial valves, it’s important to stay on top of trends and adapt. New strategies and procedures must coincide and align with customer expectations. It is not an easy task.

However, there is some good news. Correct manufacturing ERP software helps. Modern, buildable ERP solutions with built-in last-mile functionality provide the capabilities needed to meet today’s most pressing challenges. With a modern manufacturing ERP system, it’s easier to modernize an entire organization, from introducing new products to operational efficiency – one step leads to many benefits.

Here are three tips for adapting to changing requirements:

Improve the speed of the supply chain

A disrupted supply chain has been a major concern for most manufacturers. This is an understatement for many. Tariffs, bottlenecks, delays, the war in Ukraine, chip shortages, unavailability of containers of goods and rising fuel costs have turned the purchase into a game of chance – with the odds unfavorable.

Modern software, with artificial intelligence (AI)-based analytics and full supply chain visibility, can provide convenience. Smart solutions will help make smart decisions – anticipate risks, make strategic choices, and forge new partnerships. Data insights help with contingency planning and forecast management. Organizations will know what inventory is needed and when they expect it to arrive.

Managing the complexity of the shop floor

Manufacturers must meet customer requirements for highly personalized products. But they still need to control costs and improve margins. In many industries, traditional mass production is being replaced by mixed manufacturing with high-configuration products, and on-demand assembly processes are becoming the new normal. Modern manufacturing software is essential to the transformation process. Helps streamline processes, fill in gaps, and keep workflows in sync. Industry 4.0’s latest technology provides critical tools – such as smart sensors – to track machine performance, output, control quality, and optimize resources. The tools also help manage your existing workforce that has to work smarter rather than harder to get the job done. Data insights help keep the store floor running with coordinated accuracy, because every part, every device, and every business cycle matters.

Leverage data insights

While meeting consumer demand for new and personalized products, manufacturers must simultaneously strive to improve productivity, enhance efficiency, automate processes, and strategically plan resource use. They have tough decisions to make. Modern ERP software helps capture, track, and leverage data across an organization. By using facts, not feelings or intuition, manufacturers can better match customers, launch new product introductions, design and source the right parts and components, and keep track of all costs. New strategies can now be planned and implemented to stay relevant and grow the business while balancing long-term goals, short-term capacity, and cash flow constraints. Data insights are key.

The Right Tools for Operational Efficiency and Innovation

To avoid threats to market share and profitability, manufacturers must stay alert and on top of ever-evolving trends. They need to adopt modern data-driven processes and shift to technology to help deliver new products. When inefficiencies are eliminated, teams have more time to innovate.

Technology, such as modern ERP solutions deployed in the cloud, helps organizations quickly adapt to change, including starting new branches or divisions. This flexibility means that they can focus on green initiatives, introduce new services or manage logistics. Even creating hubs closer to end customers becomes easier. Manufacturing is being redefined, and software plays a major role in supporting the new era – from go-to-market strategies to supply chain planning and store operations. It may be easier than it sounds if organizations start in the right place.

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Asian stocks rose mostly after the rally on Wall Street | Health, medicine and fitness

By YURI KAGEYAMA – AP . Business Writer

TOKYO (AP) – Asian stocks rose mostly on Friday after a broad rally on Wall Street, but the main index in Hong Kong fell more than 2%.

Investors seem to have become more convinced that The Federal Reserve may ease Sharp interest rate increases are aimed at curbing inflation after the Commerce Department reported US economy shrinking at a rate of 0.9% annually in the most recent quarter. This followed a 1.6% year-over-year decline in the first quarter.

Investors have been cautiously eyeing regional tensions over China’s stance on Taiwan after President Zhou Biden and China, Xi Jinping Talk for more than two hours on Thursday. China left no doubt that it blamed the United States for the worsening relationship, but the White House said the point of the call was to "manage our differences responsibly and work together where our interests coincide."

Hong Kong’s Hang Seng fell 2.3% to 20148.90 and the Shanghai Composite fell 0.7% to 3,258.86 after China’s leaders acknowledge that the economy is suffering It will not reach the official growth target of 5.5% this year.

The announcement came after a planning meeting of the ruling Communist Party on Thursday that Beijing will try to support sagging consumer demand but will stick to tough anti-COVID-19 tactics that have disrupted manufacturing and trade. highlights The high cost of the Xi government is willing to bear To stem the virus in a politically sensitive year as he is widely expected to try to extend his term in power.

Japan’s Nikkei 225 lost 0.3% to 27750.17, while Australia’s S&P/ASX 200 rose 0.8% to 6947.30. South Korea’s Kospi rose 0.4% to 2,446.22 points.

Japanese government data showed that factory production in June jumped 8.9% from the previous month, marking the first rise in three months. The last dilution of Pandemic lockdowns In China to promote Japanese production.

“On the economic data front, the easing of Chinese restrictions also resulted in stronger-than-expected June production for Japan, as the reopening of China is likely to have a positive impact across the region in the second half of the year,” Yip said. Jun Rong, Market Strategist at IG in Singapore.

The rise in the number of COVID-19 infections to record levels in many parts of Japan has raised alarm. But Robert Carnell, ING’s regional head of research for Asia Pacific, thinks Japan’s second-quarter gross domestic product, or gross domestic product, will rebound marginally from the first-quarter contraction.

On Thursday, the S&P 500 rose 1.2% to 4072.43, while the Dow Jones added 1% to close at 32,529.63. The Nasdaq rose 1.1% to 12162.59. The Russell 2000 Index rose 1.3% to 1873.03.

Consecutive quarters of lower GDP are an unofficial, if not definitive, indicator of what economists call a technical recession.

The GDP report indicated weakness across the economy. Consumer spending slowed as Americans bought fewer goods. Business investment declined. Inventories fell as companies slowed to restock shelves, lagging 2 percentage points of GDP.

The Federal Reserve has made a slowing US economy to tame the highest inflation in 40 years its goal by raising interest rates, most recently on Wednesday. The latest GDP report, along with recent weak economic data, may give some investors confidence that the central bank will be able to cushion the scale of any further rate hike.

In a research note Thursday, Jonathan Golub, chief US equity strategist at Credit Suisse Securities, said, “Whether or not we are in a recession will be debated by academics in the coming months. However, today’s report unequivocally reflects significant weakness in activity." economy, and increases the likelihood that the Fed will turn pacifist.”

The central bank raised its key short-term interest rate by 0.75 percentage points on Wednesday, taking it to the highest level since 2018. The move sparked a broad market recovery led by technology shares that helped give the Nasdaq its biggest gain in more than two years. . All major indexes are now on track for weekly gains, extending Wall Street’s strong rally in July.

In a week packed with corporate earnings reports, investors focused on what companies are saying about inflation and the impact of higher interest rates on their businesses and customers.

Technology stocks, retailers, restaurant chains and other companies that rely on direct consumer spending helped lift the S&P 500 index on Thursday. Microsoft shares rose 2.9 percent, Target added 3.1 percent, and McDonald’s rose 1.8 percent.

Telecom services stocks were the only lagging behind. Meta Platforms fell 5.2% after the social media giant said its revenue fell last quarter for the first time ever, weighed down by a drop in ad spend.

Shares of Spirit Airlines rose 5.6 percent after JetBlue It agreed to buy the low-cost airline for $3.8 billion Creation of the fifth largest airline in the country. The day before, Spirit’s attempt to merge with Frontier Airlines had collapsed. Frontier Airlines jumped 20.5%.

In energy trading, benchmark US crude rose 25 cents to $97.28 a barrel in electronic trading on the New York Mercantile Exchange. It lost 84 cents to $96.42 on Thursday.

Brent crude, the international pricing standard, rose 3 cents to $101.86 a barrel.

In currency trading, the US dollar fell to 133.24 Japanese yen from 134.27 yen late Thursday. The price of the euro came to $ 1.0220, a slight increase from $ 1.0199.

AP Business Contributing Writer Alex Veiga.

Yuri Kageyama is on Twitter https://twitter.com/yurikagyyama

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.

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The cryptocurrency market stands like Nasdaq in the early 2000s. Here’s why

Welcome! Welcome back to Distributed Ledger, the weekly crypto newsletter that hits your inbox every Thursday. I’m Francis Yu, MarketWatch’s Crypto Correspondent, and I’ll update you on the latest news in this bear market.

Find me on Twitter at MustafaHosny Oh God, Amen To send feedback, or tell us what you think we should cover. You can also contact me via email to share your personal stories with cryptocurrencies.

as a federal reserve Raising the benchmark interest rate for the fourth time this year on Wednesday to calm inflationI met Ben McMillan, founder and chief investment officer of IDX Digital Assets, to chat about the recent state of the crypto market.

Encryption in a jiffy

Bitcoin BTCUSD,
+4.53%
It is up 0.8% over the past seven days, trading at around $23,908 on Thursday, according to CoinDesk data. Ether ETHUSD,
+ 7.84%
It rose 6.4% over the seven-day period to about $1,732. Dogecoin DOGEUSD code meme,
+ 5.35%
It is down 3.5% while another dog-themed token, Shiba Inu SHIBUSD, is down.
5.22And the
It’s down 5% from seven days ago.

coding standards
Biggest Winner

price

7% day return

Bitcoin Gold

$26.86

45.2%

Ethereum Classic

$33.75

44.1%

percentage grid

$1.14

42.4%

Qtom

$4.30

40.5%

Lido Dao

$2.22

38.7%

Source: CoinGecko as of July 28

Biggest loser

price

7% day return

Ampere

$0.009

-7.3%

Hopi

$4.42

-6.2%

Dogecoin

0.07 dollars

-5.7%

Share Frax

$6.26

-5.6%

Algorand

$0.33

-5.5%

Source: CoinGecko as of July 28

Nasdaq in the early 2000s?

IDX’s Macmillan said in a phone interview that the current cryptocurrency market is “a lot like the Nasdaq in the early 2000s after the crash.” Over the past two months, the cryptocurrency market has suffered from a contagion outbreak as digital asset hedge fund Three Arrows, broker Voyager and lender Celsius have gone bankrupt.

"I’ve had two very big liquidation events," MacMillan said. “Similar to Long Term Capital Management in the late 1990s or Pets.com, there were a lot of flawed business models that were simply taken advantage of because of the hype of digital assets that just disappeared.”

According to Macmillan, “Eventually we saw a similar model emerge in the early 2000s with tech stocks, and it ended up becoming a buying opportunity for generations.”

However, in a risk-free environment, IDX’s Bitcoin Risk Management Strategy Fund, BTIDX,
+ 4.29%
Its investments have kept mostly cash since the end of last year, with bitcoin trading more than 67% down from its November peak, MacMillan said.

According to Macmillan, the fund has recently begun to "put a little risk back on the table."

“What we are looking for is what we call some type of buying behavior by conviction. We want to see it, especially with a volatile market like bitcoin or other digital assets. For an asset class that is not exotic to 50% plus withdrawals, risk management becomes important. Really, especially for institutional customers, who are primarily the ones we serve,” according to MacMillan.

Hear from Mike Novogratz at The best new ideas at the Money Festival On September 21 and 22 in New York. The CEO of Galaxy Digital has thoughts on navigating the crypto winter.

FTX bailout for Voyager?

Failed crypto broker Voyager Digital has rejected an offer from crypto exchange FTX and Alameda Ventures of Sam Bankman Fried, saying it was a “low-level offer dressed as a rescue of the white knight.”

FTX and Alameda on July 22 jointly proposed to buy all of Voyager’s digital assets and crypto loans other than its claims on the Three Arrows hedge fund, with "immediately available cash" at fair market value. This value will be "computed by Alameda in good faith based on market practices and available pricing information," Voyager confirmed, according to the proposal.

Under the proposal, FTX and Alameda also offered to provide early cash to Voyager customers, where they could choose to start a new account with FTX and receive a cash balance equal to a portion of their claims with Voyager.

In response to FTX and Alameda’s proposal, Voyager’s lawyers said it would hurt the company’s customers, undermine efforts to maximize value in the bidding process, limit users’ claims for cryptocurrency to their dollar values, and allow consumers to bear the tax consequences of transactions, among other concerns.

“AlamedaFTX’s proposal is nothing more than a liquidation of cryptocurrency based on the merits of AlamedaFTX,” Voyager’s lawyers wrote in a July 24 court filing.

"The deal isn’t necessarily dead," Bankman-Fried said Tuesday in an interview with Yahoo Finance. Ultimately, shareholders will decide what they want to go forward with. And I don’t think we’ve seen some kind of final flight on that side."

In a series of tweets, Bankman-Fried argued that their proposal would benefit consumers by allowing them to pay sooner. “The longer the bankruptcy process continues, the more elective customers will be lost,” the crypto billionaire wrote on Twitter. He also tweeted that some other third parties may be bidding for plans that would give customers more haircuts.

Crypto companies and funds

shares Coinbase Global Inc. Currency,
+ 5.35%
It gained 3.4% to $60.84 on Thursday, while it has been down 17.5% over the past five trading sessions. Michael Saylor microstrategy a company
MSTR,
+ 3.98%
On Thursday, it rose 2.3% to $268.32, while shares have fallen 7.4% over the past five days.

mining company Riot Blockchain Inc. riot,
+ 1.55%
Shares rose 1.5% to $7.25 on Thursday, while losing 4.8% over the past five days. shares Marathon Digital Holdings Inc.
Mara ,
+ 4.14%
It advanced 5.5% to $12.99, with a 3.7% gain over the past five days. another miner, Ebang International Holdings Inc.. Ebon,
-0.17%
Shares rose 1.8 percent to $0.48 on Thursday, looking to lose 15 percent over the past five days.

Company Overstock.com
OSTK,
+ 8.17%’s
Shares rose 7.7% to $30.45. Shares are up 3.8% over the five-session period.

shares Block Company
S.Q.,
+ 0.59%And the
Formerly known as Square, it is down 0.3% to $72.56, while its shares are down 2.7% for the week. Tesla Corporation. TSLA,
+ 1.91%
The shares rose 1.5% to $836.90, contributing to a 3% gain over the past five sessions.

PayPal Holdings Inc.
PYPL,
-1.59%
It was down 2% to $84.68, despite shares gaining 2.9% over five sessions. Nvidia Corp.
NVDA,
+ 0.46%
The shares lost 0.3% to $177.45, down 1.3% over the past five trading days.

Advanced Micro Devices Inc.
AMD,
+ 0.89%
Shares rose 1.4% to $90.21 Thursday, looking to lose 0.6% since five trading days.

Among the crypto funds, ProShares Bitcoin Strategy ETF
beto,
+ 4.64%
It jumped 5% to $14.80 on Thursday, while ETF Bitcoin Short Strategy
BITI,
-4.55%
It fell 4.9% to $32.58. Valkyrie Bitcoin ETF Strategy
BTF,
+ 4.67%
It advanced 4.9% to $9.21, while VanEck Bitcoin Strategy ETF
xbtf,
+ 5.86%
It rose 4.9% to $23.28.

Grayscale Bitcoin Box
GBTC,
+ 3.72%
It increased 3.2% to $14.69.

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Like Apple AirPods Pro but not as good

Sophia Pitt wears Google Pixel Buds Pro

Sophia Pete | CNBC

what is good

The Pixel Buds Pro are Google’s first headphones with noise canceling technology, just like Apple’s AirPods Pro. The sound quality is really good and almost on par AirPods Pro from Apple. Switching between AirPods Pro and Pixel Buds Pro while listening to the first minute of Billie Eilish’s Ocean Eyes, the bass sounded a bit loud on Google’s headphones, with the slightest hint of feedback.

Pixel Buds Pro has a voice switching feature, which made switching between devices like my phone, computer, and tablet seamless. Aside from the initial setup, I didn’t have to go through the trouble of pairing the earbuds to each device more than once, which is convenient.

The noise cancellation is as good as the AirPods Pro. Help block out the noise. I couldn’t hear my editor asking me a question while I was listening to music. I haven’t tested it on a plane, but this feature is usually good to help eliminate the hum of engines while in flight. That’s why noise canceling headphones are so popular among frequent travelers. Google said it has built sensors that constantly measure the pressure in your ear canal so the buds are more comfortable and users don’t feel like their ears are clogged. it’s working.

The carrying case uses USB-C charging, which is the same as most modern Android phones, meaning you only need to carry one cord with you. The case also supports wireless charging, just like the AirPods Pro case, meaning you can drop it on a wireless tablet to charge it.

I was able to wear the Pixel Buds Pro for hours without feeling any slight earache, which sometimes happens when I’m wearing AirPods Pro. This means that it may be more comfortable for long plane trips.

It has a longer battery life than AirPods Pro with seven hours of listening on a single charge when noise canceling technology is activated. When the Buds Pro noise canceling technology is not activated, it lasts up to 11 hours. Apple Airpods Pro last 4.5 hours on a single charge. This is a big problem for a lot of people, and as an AirPods user, I’ve noticed the difference.

Pixel Buds Pro allows you to easily talk with someone who speaks another language, thanks to the link with Google Translate. I tested the real-time conversation mode with my Brazilian stepmother, whose first language was Portuguese.

To get started, I opened the Google Translate app on my Pixel 6a and tapped "chat". After a few minutes, we were able to have a conversation with a near-perfect translation. I asked, "Does your family in Brazil use this translation feature?" My stepmother replied in Portuguese, "Yes. Is it affordable? How much does it cost?" The phone translated the conversation for me and I heard her response in English through Pixel Buds Pro.

I probably wouldn’t use this feature to ask someone for directions, unless I was really desperate because it was a little awkward and time consuming. But it would be helpful if I was shopping abroad and needed to ask a question about whatever I was buying.

Pixel Buds Pro come in four colors: black, coral, gray and light green. I like the ear tips to be black, not white. I know I’m not the only one left out after looking at earwax buildup on the white earbuds.

What’s bad

Pixel Buds Pro are very sensitive to touch. The outer surface of the bud responds if you touch it to stop a song, for example. It is convenient if you just want to skip a piece of music while walking. But I was listening to the podcast while resting my head on a pillow and the slightest movement of my head caused the podcast to stop. I often sleep with AirPods Pro in my ear and they never stop like this.

Google asked if a software update might fix this but its spokesperson was not immediately available for comment.

It is not as easy to find a lost set of Pixel Buds Pro as AirPods. Google headphones must be connected to your Android phone. But with AirPods, Find My will show you your last known location, even if it’s no longer connected to your iPhone.

And the microphones weren’t that great either. My husband said it "looks like you’re on speakerphone," when I placed a test call with him. He said he could hear me well but I sounded a bit far away.

We have tried FaceTiming and video chatting on WhatsApp as well. I was repeatedly adjusting the Pixel Buds Pro in my ear because the fit was not as natural as if I was using AirPods Pro. When I groaned, he could hear unpleasant reactions.

There are three different rubber bud heads that come with the Pixel Buds Pro, which means there should be enough sizes to fit most people. But none of them suit me well.

Should you buy it?

AirPods Pro work as seamlessly with your Android device as they do with your iOS device, so I prefer Airpods Pro. But, if you want to save some money, Pixel Buds Pro are the next best thing. The battery life is great and the smooth transition when switching between devices makes it easy to use Buds Pro. The quality is almost the same as the Airpods Pro, but the sturdier design makes it feel a little awkward.

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What killed the internet?

Whether you thought the internet was a net positive or a negative for the world, it is indisputable that it changed just about everything. The change was so rapid and sudden that humanity did not deal with this new reality. It’s as if we’re constantly playing catch-up.

There was the first wave of the internet that completely wiped out physical media like record stores and magazines. Then there was a revolution in social media that changed the way people interact and gave everyone a voice online.

Some point to Facebook adding 'Like' button in 2010 As the moment social media has become an addiction, as people seek approval and get dopamine. While others say that adding "Share button That same year he completely changed reality because he allowed bad ideas to spread.

Now, nearly 30 years after the internet has been available to the average person, there is a generation growing up that never knew what life was like before the "net". But for the rest of us, there are still memories of the time people went to a Blockbuster video to get a movie, called people on rotary phones and found a cross on a Thomas Guide map.


I’m not saying those times were better, just different.

Reddit user Jenn was nostalgic for the pre-internet days So they asked the online forum“A Video Killed the Radio Star. What Killed the Internet?” The question was a reference to The Buggles' 1979 song "Video Killed the Radio Star," which was the first video played on MTV.

The post quickly went viral with more than 7,000 people chiming in with the things the internet made in the dustbin of history.

Here are 19 of the best responses to the question "What killed the Internet?"

1.

Newspapers. Magazines. – knives

2.

"the bomb". – spark

3.

"Encyclopedias". – New_Television_9125

4.

“Not being able to remember that guy from this thing.” – Meffrey_Dewlocks

Volcano-ngh added:

"Not having to listen to my mom and uncle narrate the names trying to remember the name of an actor in a 100-year-old movie for an hour without accuracy is pretty cool."

5.

"Maps. I’ve never used a concrete map since the internet and phones." – TheMaskedAdvice

6.

Realistic expectations of success. – Nelson Body

Serker added:

“With your previous limited peer group, it was inevitable that you were at least the 'expert' or 'best' at something. And you could make valuable contributions because of this. Now? You can always compare yourself to the world at large. You find dozens of people above your level so far that so far? You have no realistic means of approaching it. It was always like this, but they weren’t prominent in your life, and they always referred to mediocre. I still struggled with it and it used to absorb all my motivation. Now I’m starting to stop caring and do whatever saves my joy."

7.

"Mail-order catalog. This was a huge way to buy merchandise, especially in rural areas, or to order specialty items that aren’t usually stocked in stores." – TheSeaMonkey

8.

"How much attention." – legacy

"I just started working on this. Limiting my phone time and forcing myself back to reading, puzzles, projects that require focus etc." – catsinlittlehats

9.

TV broadcasting. – Katumka

10.

My belief in humanity. – Kokaki Place

Uhh_JustADude added:

“Before, you knew most people were kinda stupid. It wasn’t like that back then, they didn’t have much and definitely weren’t empowered or encouraged. People used to feel shy and self-conscious and spread some bullshit to the whole world to find out, had to One has to have former editors who have already worked in their jobs and have degrees in journalism, English and literature."

11.

"Record stores. Not all of them, but many. We used to have 10 in my town in the ’90s, and now we have 2." Box nails

12.

Movie phone.

She didn’t live until she tried to spell a movie title on the keyboard while rejecting the robot’s suggestions.
’Do you mean..?'

“_____” also plays in…” – brutcookie5

13.

"Mail, not email, but good old email. The only types of letters I get now are bills and other things I don’t want." – Lekenthereal

14.

“The internet has killed shame. There is nothing to shame anymore, it is just monetizing and feeding people from TikTok videos and YouTube, to 4chan and Reddit Subs, to the very dark alleys of the web. Nothing kills personal shame like the Internet. We will see worse What’s in humanity is at our fingertips 24/7." – XmerianMonk

15th.

"Self-Esteem in Adolescents". – streams

Intersseret added:

"That’s pretty much No. 1 on the list, isn’t it. Man, the internet has done terrible things to youthful self-image."

16.

"4-1-1." – AllFuzzzedOut

Nihlism4U added:

"Oh my God yes! Also lots of random phone numbers you can call for pre-recorded info…time and temperature, there was a number I used to call a lot for like…daily science facts or something? I don’t remember exactly, but I definitely used the phone as a lifeline of information when I was a kid in the ’80s and early ’90s. "

17.

"democracy." – Chubby

“This is very sad. The Internet has allowed fringe ideology to spread to a large audience. The algorithms of YouTube and Facebook help push more of this content in front of people. Those with a penchant for buying into conspiracy theories and other types of fringe thinking previously did not have easy access to this. Kind of content. Sure, we still have Fox News and the like, but that’s pretty moderate compared to what’s available online." – Bray 44 Mojo

18.

"trade Center". – dumberthenhelooks

19.

"The experience of going out and doing things on your own." – Evening- Ad-9976

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Apple has been concerned about iPhone supply, but this could swing by demand

Throughout the pandemic, the biggest challenge for Apple Inc. It is maintaining an adequate supply of its devices, but with the company heading towards launching a new iPhone, could the equation be reversed?

Apple AAPL,
-0.88%
Benefiting from elastic demand in the first two years of the COVID-19 crisis, as governments poured in stimulus money and consumers searched for new devices that would better enable them to work and study from home. With inflation continuing to criticize consumers, some analysts are concerned about a possible drop in demand for smartphones.

Investors will learn about how the inflation dynamics will affect Apple when the company releases its third-quarter financial results Thursday afternoon. While the company may highlight how evolving consumer spending trends appear in its June quarter results, Wall Street will be particularly focused on how Apple expects smartphone buying patterns to emerge in the upcoming iPhone cycle, which should begin this fall. .

“As we look forward to September, all eyes are on [foreign-exchange] "The impact and any signs of slowing demand ahead of the launch of iPhone14," Morgan Stanley’s Katie Huberty wrote.

About a month ago, her colleague Eric Wooding wrote about it at Morgan Stanley ’Degraded' data points Regarding low and medium consumer spending in general, noting that "downside risks even for the high-end consumer are rising."

Read: Amex shrugs off macro concerns, says 'premium' consumers are still spending

Woodring saw Apple in a better position than other consumer hardware companies to deal with a potential slowdown, though he said, "It would be shortsighted to think that Apple is completely immune to a weaker consumer."

JPMorgan’s Samik Chatterjee writes that longtime investors are only "hoping … a material downgrade in estimates to account for headwinds from a decline in consumer spending to cut the bar toward the iPhone 14 launch."

Getting a glimpse of Apple’s own forecasts has become more difficult since the company declined to provide traditional financial forecasts during the COVID-19 pandemic. Assuming the company sticks to this pattern, investors will be left to elicit trends from the company’s qualitative feedback, as well as any details it provides on how performance has stacked up compared to recent quarters.

"Given Sep-Q, we’re not sure what direction management will give it, but we expect some reservation given the overall background despite the strength of recent hardware," Barclays analyst Tim Long wrote.

do not miss: Big Tech earnings are about to set the trend of the market

Any kind of forecast will be of particular interest to investors this time around because it could also indicate whether the smartphone giant expects to release its new phones at the end of the September quarter or the beginning of the December quarter, which is a useful data point for forecasting.

When analysts began to consider the potential inflationary effects on demand for the iPhone 14, it is worth noting that just three months ago, Wall Street was very focused on supply. Apple warned on its latest earnings call that it expects to see more supply pressures in the June quarter than in the first quarter of March, in part due to Temporary closure of factories in China.

CFRA’s Angelo Zino writes: "Although hardware sales should address China’s COVID-19 and supply restrictions during the June quarter, we previously believed the assumptions made by the company and collective opinions appeared conservative." "China reopening provides good momentum for September in Q from a supply and demand perspective."

what are you expecting

he won: Analysts tracked by FactSet expect Apple to generate $82.7 billion in revenue, compared to $81.4 billion a year earlier. According to Estimize, which aggregates forecast sources from hedge funds, academics and others, the average estimate is $84 billion in revenue.

Analysts expect revenue growth overall despite mixed expectations on a category basis, with increases expected in just two revenue lines: Services and Macs. The FactSet consensus calls for service revenue to increase to $19.8 billion from $17.5 billion in the previous year. It also brings in $8.7 billion in Mac revenue, up from $8.2 billion in the same period last year, though. Apple mixed messages from quarterly shipment reports on PC.

Consensus forecasts show $38.6 billion in iPhone revenue, down from $39.6 billion in the previous year; $6.9 billion in iPad revenue, down from $7.4 billion a year earlier; and $8.7 billion in wearable, home, and accessories revenue, down from $8.8 billion.

earnings: Analysts whose FactSet model tracks $1.16 in earnings per share, while those surveyed by Estimize are looking for $1.25. The company reported $1.30 per share of earnings in the third quarter of last fiscal year. If Apple reports earnings per share below $1.30, it would be the first decline in the company’s earnings since the September quarter of 2020.

stock movement: Apple shares have fallen after six of the company’s past seven earnings reports. The stock is down 14% so far this year as the Dow Jones Industrial Average DJIA,
-0.71%
– which Apple considers as a component – it lost 12%.

Of the 42 analysts tracked by FactSet that cover Apple stocks, 32 have a buy rating, nine have a hold rating, and one has a sell rating, with an average target price of $182.53.

What the analysts say

Technology companies including International Business Machines Corp.
IBM,
-0.36%
And the Microsoft Corporation.
MSFT,
-2.68%
opinion Significant negative effects of exchange ratesA strong US dollar could cloud Apple’s iPhone business performance as well, according to an analyst.

"Despite the strength in iPhone and Mac units relative to our estimates, increased exchange headwinds are likely to dampen product appreciation," wrote UBS analyst David Vogt. He thinks the iPhone and Mac business revenue rise could approach $4 billion in constant currency, but said a stronger dollar could offset about half of that.

See also: Microsoft joins a group of tech companies that warn of the effects of a stronger dollar

Evercore ISI’s Amit Daryanani has flagged Chinese government data points that indicate a re-growth of the smartphone market in China in general, and particularly sharp growth for Apple. He will look for more information on the performance drivers in the region.

“Strong growth from China should put Apple in a good position to provide some upside to the relatively low outlook, but investors are likely to remain cautious about the possibility of weak evidence for September,” Darianani wrote. "The key question will be: Is this growth driven more by pent-up demand that could continue through September or the third quarter of June or did the strong month of June work through most of the demand buildup?"

Aaron Rakers of Wells Fargo is concerned with the state of the Mac business after sales data from third-party researchers at IDC estimated a 23% decline in Mac shipments during the quarter.

See more: The PC industry suffered its worst decline in years, but how bad it will be depends on Apple

The data point prompted him to wonder "whether Apple had worsening supply restrictions during the quarter that prevented shipments to the channel, or if supply improved, but the company decided to cut inventories given the overall concern."

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Apple Q3 2022 earnings preview: Macroeconomic concerns dominate

Tim Cook, CEO of Apple Inc. , during the Apple Worldwide Developers Conference at the Apple Park campus in Cupertino, California, United States, on Monday, June 6, 2022.

David Paul Morris | Bloomberg | Getty Images

apple Thursday’s earnings reports for the quarter ending June.

Apple’s fiscal third quarter is usually the smallest in terms of sales. The quarter falls in the back half of the iPhone’s annual update cycle as investors start looking forward to the release of a new model, boosting sales starting in late September or October.

This year, analysts and investors will closely monitor Apple’s earnings in the face of several new macroeconomic trends, including Consumer confidence waningto rise interest ratesAnd the high inflation contracts.

So far, Apple’s sales have remained strong, in part because its customers have too Affordable group. but any Signs That people put off their Mac and iPhone purchases due to inflation or recession fears could have repercussions for the economy as a whole.

Apple also has significant exposure to China, both as a market for selling its products and as a country where most of its products are assembled. Production of several Apple factories in China was shifted or suspended at times during the June quarter due to the Covid shutdown.

Analysts polled by FactSet expect Apple to reach $82.8 billion in sales, which would be less than 2% of growth from the same quarter last year and the slowest quarter of growth since the start of the pandemic.

Analysts also expect earnings per share of $1.16, which would be a 10.7% year-over-year decline. The company said in April that gross margin would also drop from 43.7% last quarter — Apple’s highest level in history — to between 42% and 43%.

Supply Issues and Lockdowns in China

in AprilApple’s story wasn’t about demand: it was about supply. "Right now, our main focus is, frankly, on the supply side," Apple CEO Tim Cook told analysts.

Apple has warned that between $4 billion and $8 billion in revenue will be hit by supply issues, including chip shortages and production hurdles. Some analysts say Apple will point out that it has managed its supply chain well and lost revenue will end at the end of Apple’s handbook.

"We believe the company has managed its supply chain better than it planned a quarter ago, while continuing to gain a share in an otherwise difficult quarter for smartphones and computers," Deutsche Bank analyst Sidney Ho wrote in a recent note.

That could be good for iPad sales, which have been a hit in the past few quarters as Apple has prioritized iPhone parts and other products.

“We also expect iPad sales to improve in part due to improved supply, and we believe the adverse hold on Apple supply from $4 billion to $8 billion for the June quarter was likely at the lower end of that range,” Michael Walkley, analyst at Canaccord Genuity, wrote in his book. . Note this month.

Apple has faced shutdowns in urban areas of China, including Shanghai. Covid restrictions could have hit Apple’s iPhone sales in China earlier this quarter, but could have charged sales in June leaving people to shutdown willing to spend.

Analysts polled by FactSet expect Apple’s sales in Greater China to be around $13.79 billion, which would be down from $14.56 billion in sales from last year.

September quarter order

Can Apple remain a safe haven?

Overall, analysts remain confident in Apple as an efficient company with a strong cash balance, loyal customers, and competitive products.

But can Apple remain a safe haven with other tech stocks falling and markets plunging? Apple’s prices are down about 15% so far in 2022, but that’s better than the Nasdaq, which is down 18%.

“Apple remains the best consumer electronics company able to invest through cycles, and with 60%+ revenue, more commodity in nature, strong brand loyalty, and continuous product/service innovation, we believe it is better insulated compared to its peers during the downturn. The Economist, Huberty wrote from Morgan Stanley.

One of the keys to Apple investors in the downturn has been the growth of the services business, which makes overall hardware sales growth less significant. Apple’s services, which include monthly subscriptions, payment fees, warranties, Google search license fees, and revenue from the iPhone App Store, offer higher profit margins than the core hardware business.

Apple’s services business is expected to rise 12% year-over-year, according to analysts polled by FactSet.

That’s slower growth than the 17% annual growth rate it posted in the second quarter, and a significant drop from the 27% growth Apple achieved in its services business in 2021.

JP Morgan’s Samik Chatterjee believes Apple’s share buyback plan will support the stock, even if its earnings are weak. Apple board authorized 90 billion dollars In stock buybacks and additional dividends in April.

“We believe that the resilience of earnings estimates in light of macro deterioration, including both inflation and poor exchange rates, will continue to lead investors to favor Apple with strong cash generation and a balance sheet that allows it to offset any dividend dilution at the expense of the macro through buybacks.” Chatterjee wrote in a note.

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A virtual embodiment of a joint body with left and right limbs controlled by two people

Summary:

What factors influence the embodiment we feel about the parts of our bodies that are controlled by others? Using a new 'shared avatar' whose left and right limbs are simultaneously controlled by two people, the researchers revealed that the visual information needed to predict a partner’s intentions behind limb movements can significantly enhance the sense of avatar toward partner-controlled limbs during virtual engagement. -embodiment. This finding may contribute to enhancing the sense of embodiment toward independent prosthetics.

details:

Virtual reality can enable us to co-avatar with others in a single avatar to perform different tasks collaboratively. A previously published study on the “common avatar” driven by the average movements of two people showed that the movements of the joint avatar were smoother and straighter than the movements of the two individuals (Hagiwara). and others.And the iScience 2020). Thus, these avatars can be expected to be better at precision motion tasks. However, when it comes to users with disabilities on certain parties, having them partners who fully control the opposite parties from their default avatars can be an option.

Here is a Ph.D. Candidate Harin Hapuarachchi and Professor Michiteru Kitazaki of Toyohashi University of Technology developed a "joint avatar" in which the left and right limbs are entirely controlled by two different people, and investigated factors affecting embodiment toward partner-controlled limbs.

The researchers measured senses of power and ownership toward the joint avatar arms and changes in skin conduction levels in response to visual stimuli threatening the virtual arms. Dyad participants were asked to cooperatively reach one or two target objects appearing in random locations with the arms of the shared avatar. Participants' sense of agency, ownership, and skin conductance were significantly higher towards the virtual arm that was under their control compared to the virtual arm that was controlled by their partner. Furthermore, the senses of agency and ownership toward the partner-controlled arm were significantly higher when the participating duo shared a common intent to reach a single target with both hands or when they were allowed to see their partner’s target while reaching different targets using two virtual hands, compared to when they had The partner’s goal is invisible (with two different goals).

These results demonstrate that while personification toward partner-controlled parties is lower compared to individual-controlled parties, the visual information needed to predict partner intentions can positively influence embodiment toward partner-controlled parties during hypothetical joint embodiment.

Lead author, Harin Hapuarachchi, said, “The common avatar concept can provide a research platform to study how different factors—such as different tactile, visual, and auditory feedback—influence embodiment toward independent prosthetics in the future. Amputees who wear prosthetics may feel some discomfort when These prosthetics move independently without their intent. However, our findings suggest that if the prosthesis' target or the intent behind the movements is communicated to the user through visual cues, they may feel discomfort due to the lack of embodiment."

Furthermore, Professor Michitero Kitazaki added, "The senses of ownership and agency towards the unsupervised arm were still impaired and physiological responses were not significantly different between the target conditions. Thus, our findings are limited, and research is ongoing."

The concept of a shared avatar could be applied to combining the power of two or more people to increase overall efficiency in multitasking, and may also contribute to the design of autonomous prosthetics with a higher sense of avatar in the future.

This study was published in Scientific Reports On July 26, 2022.

Reference:

Hapuarachchi H., and Kitazaki, M. (2022). Knowing the intent behind the partner’s limb movements increases personification towards the tip of the shared avatar, Scientific Reports doi: 10.1038/s41598-022-15932-x.

Hagiwara, T.; , Ganesh, G, Sugimoto, M, Inami, M, and Kitazaki, M (2020). Individuals prioritize reach and integrity in a shared avatar over their own personal account. iSciencehttps://doi.org/10.1016/j.isci.2020.101732

Funding: This research was supported by JST ERATO Grant Number JPMJER1701 (Inami JIZAI Body Project) and JSPS KAKENHI Grant Number JP20H04489.

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