Sweden Takes On Elon & The IRS Gives Out a $1B Holiday Bonus
Dec 21, 2023
27:52
auto_awesome Snipd AI
Sweden unions battling with Elon Musk and Tesla, bankruptcy filing by electric scooter company 'Bird', Rite Aid in trouble for using facial recognition, IRS canceling $1 billion in tax penalties, US consumer confidence at highest since 2021, and the heir to Hermes wanting to give billions to his gardener.
Read more
AI Summary
AI Chapters
Episode notes
auto_awesome
Podcast summary created with Snipd AI
Quick takeaways
The labor dispute between Tesla and Swedish unions sheds light on the clash between Tesla's anti-union stance and the pro-labor ideals of Scandinavian countries.
Bird's bankruptcy highlights the challenges of maintaining profitability and navigating regulatory obstacles in the micro-mobility industry.
Deep dives
Tesla Faces Labor Dispute with Scandinavian Unions
Tesla is embroiled in a labor dispute with union workers in Sweden and other Scandinavian countries. The tension began with a lack of a collective bargaining agreement, leading to strikes and various labor actions against Tesla. Unions are refusing to provide services and products to Tesla, including trash collection, manufacturing components, painting offices, and delivering license plates. The conflict has expanded to involve other European countries, with solidarity strikes and potential union efforts in Germany. The dispute highlights the contrasting anti-union stance of Tesla and the entrenched labor ideals of Scandinavian nations.
Bird Electric Scooter Company Files for Bankruptcy
Electric scooter company Bird has filed for bankruptcy after struggling to achieve profitability. Despite once being valued at $2.5 billion, Bird faced challenges in maintaining cash flow while growing and maintaining its fleet of electric scooters. It also faced opposition from cities and regulators who viewed the scooters as a nuisance rather than a net gain. Issues such as abandoned scooters, safety concerns, and regulatory restrictions contributed to the company's downfall. This bankruptcy underscores the difficulties of operating a capital-intensive business in the micro-mobility industry.
Right Aid Penalized for Faulty Facial Recognition Technology
Right Aid has been penalized by the Federal Trade Commission (FTC) for falsely accusing multiple customers of crimes using faulty facial recognition technology. The technology mistakenly identified innocent individuals as likely to engage in shoplifting or other criminal behaviors, leading to employee interventions based on false positives. The FTC has imposed a five-year ban on Right Aid's use of facial recognition. This case highlights concerns about potential abuses of facial recognition technology and the importance of protecting consumer privacy.
Episode 218: Toby and Kyle explain why Sweden Unions are battling with Elon Musk and Tesla. Plus, electric scooter company 'Bird' has filed for bankruptcy and Rite Aid is in trouble for using facial recognition . Next, the IRS canceled $1 billion in tax penalties and US consumer confidence is at its highest since 2021. Finally, the heir to Hermes wants to give billions to his, gardener.