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Tesla Model Y Is the Most American-Made Car, New Survey Finds
Tesla Model Y Is the Most American-Made Car, New Survey Finds
Tesla's cars received a new accolade Tuesday as shopping marketplace Cars.com said the electric vehicle maker topped its index of American-made cars for the second year in a row. Tesla's Model Y compact SUV made the top of the list, followed by its Model 3 compact sedan in the second spot.
Third on Cars.com's list is the Lincoln Corsair plug-in hybrid SUV, followed by the Honda Passport midsized SUV. Tesla's Model X SUV and Model S sedan rounded out the top six cars. The American Made Index is based on data including where the cars are assembled, parts sourcing through the American Automobile Labeling Act and factory employment.
While the point of Cars.com's list is to highlight American manufacturing, Cars.com Editor-in-Chief Jenni Newman noted that EVs and hybrid vehicles made up most of the top spots at a time of economic turmoil, spurred by the coronavirus pandemic and Russia's war against Ukraine.
"That Tesla -- an American-made all-electric make -- appears frequently and high up on the list may indicate a coming alignment of market forces that could really explode once we break through microchip supply chain issues, especially if gas prices remain historically high," she said in a statement.
Read more: Why Your iPhone May Never Be Made in the USA
The survey results mark another way that Elon Musk's Tesla, which has its headquarters in Austin, Texas, stands out in the car industry. The company's cars have largely been credited with helping popularize EVs around the globe, pushing other car makers to offer more hybrid-electric and fully electric vehicles in response. Cars.com said shoppers are pushing for even more, noting that car shoppers considering an electric or hybrid vehicle jumped 21% from last year.
The survey also found increasing interest among Americans to buy cars that are made in the USA. Cars.com reported that 40% of shoppers said that buying a vehicle built in America is "more important to them," a figure that jumped 22% from last year. "Preference for American-made vehicles is the real story here," the publication said.
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9 Great Reads From CNET This Week: Webb Telescope, Amazon, iPhone Security and More
9 Great Reads From CNET This Week: Webb Telescope, Amazon, iPhone Security and More
Breathtaking. Spectacular. Jaw-dropping. Whatever your adjective of choice, it still may not adequately convey the majesty of the images we saw this week from the James Webb Space Telescope, in its very first returns in what looks to be a promising career of gazing deep into space with unprecedented clarity.
In our coverage, CNET's Monisha Ravisetti and Jackson Ryan walk you through each cosmic image in detail, and Monisha also has a fabulous explainer on the imaging science behind the Webb telescope. For those of you who like a little politics with your science, Eric Mack digs into why some people object to James Webb as a namesake. Plus, Jackson wasn't thrilled with Monday's press conference.
Those articles are among the many in-depth features and thought-provoking commentaries that appeared on CNET this week. So here you go. These are the stories you don't want to miss.
The JWST delves into nebulas, colliding galaxies and an active black hole, and even provides a breakthrough look at an alien world.
NASA
Workers hustle through Prime Day in a job where getting hurt is common. Getting help can be hard.
Getty Images
The tech giant has always talked the talk about security. Now it's walking the walk.
James Martin/CNET
Two words: infrared imaging.
NASA, ESA/Hubble and the Hubble Heritage Team
Nerd out with me on this unofficial Stranger Things tour.
Species are likely to die long before we have a chance to discover them. How can we ensure they're not lost forever?
Australian Museum
Commentary: Between Apple's iOS 16 and a report that Glance will shortly be launching on Android phones, the lock screen is evolving.
Three of the best AR projects from Tribeca Fest blaze uncharted pathways -- to time-traveling meta therapy, unearthed history and Shakespearean rock.
Tribeca Festival
Musk agreed to buy Twitter for $44 billion, but then he changed his mind.
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Twitter Shareholders to Vote in September on Musk Deal: What You Need to Know
Twitter Shareholders to Vote in September on Musk Deal: What You Need to Know
Twitter shareholders are expected to vote in September on billionaire Elon Musk's $44 billion proposal to buy the influential social network after he tried to back out of the deal.
Twitter scheduled a meeting for shareholders to vote on the proposal on Sept. 13 at 10 a.m. PT, according to a regulatory filing on Tuesday. The company's board of directors is urging shareholders to approve the deal.
"We are committed to closing the merger on the price and terms agreed upon with Mr. Musk. Your vote at the special meeting is critical to our ability to complete the merger," the filing stated. Under the deal, shareholders will receive $54.20 in cash for every share of Twitter's stock they own.
Twitter and Musk are currently embroiled in a legal battle because the billionaire said in July he no longer wanted to buy Twitter and take the company private. Musk's attempt to back out of acquiring the social media site has raised concerns about Twitter's future.
Musk has said the deal can't move forward until he gets proof that fewer than 5% of Twitter's 229 million daily users in the first quarter were fake or spam-focused, an important metric for understanding Twitter's ads business. But Twitter alleges in a lawsuit against Musk that the billionaire is trying to pull out of the deal because his personal wealth has fallen so the acquisition has become more expensive for him.
Here's what you need to know about the ongoing saga between Musk and Twitter:
Why is Musk trying to end the deal?
Musk, who leads Tesla and Space X, appears to have concerns about the future of Twitter's business, even though he said at a TED2022 conference that he didn't care about the "economics" of buying Twitter.
A letter sent by Musk's lawyer claims Twitter violated parts of its agreement with Musk, and it outlines information the company allegedly failed to provide the billionaire, including about the social network's calculations of daily users. Twitter makes most of its money from ad sales, so the number of people who can see ads is an important metric for the company.
"This information is fundamental to Twitter's business and financial performance and is necessary to consummate the transactions contemplated by the Merger Agreement because it is needed to ensure Twitter's satisfaction of the conditions to closing, to facilitate Mr. Musk's financing and financial planning for the transaction, and to engage in transition planning for the business," the letter said.
Since Musk reached an agreement with Twitter, the company's stock price has fallen and there are fears about a potential recession. Twitter has fired key executives, frozen hiring and laid off about 30% of its talent acquisition team.
Twitter isn't buying Musk's explanation and alleges in the lawsuit his information requests were designed to "designed to try to tank the deal."
Why did Musk want to buy Twitter in the first place?
Musk is an avid user of the service but also one of its loudest critics.
Musk tweeted a poll to his followers in March that asked whether users believed Twitter was protecting free speech. He said the poll results, in which roughly 70% of 2 million respondents answered "no," would be "very important."
"Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?" Musk said in a follow-up tweet. Then he made an offer to buy Twitter, noting that he believed Twitter needed to be private to accomplish his goal.
The guarantee of free speech in the US Constitution's First Amendment applies to the government censoring speech but not to companies such as Twitter, which have their own rules about what isn't allowed on their sites.
Musk referenced free speech again when Twitter announced the deal in April. He also said he wanted to enhance Twitter with new features and promised he would make the service's algorithms open source, defeat spam bots and authenticate all humans.
"Twitter has tremendous potential," Musk wrote. "I look forward to working with the company and the community of users to unlock it."
Progressives have criticized social media companies for failing to crack down on harmful content such as hate speech and harassment. Conservatives claim their speech is being censored. (Twitter has long denied allegations it censors conservatives.)
On April 19, Musk tweeted that he thinks social media policies "are good if the most extreme 10% on left and right are equally unhappy." He's also said he would reverse the ban on former US President Donald Trump who was booted from the platform after the Jan. 6 Capitol Hill riots because of concerns about inciting violence. Trump has said he doesn't plan to return to Twitter even if the company lifts the ban.
What has Twitter's response been?
Twitter says closing the deal is in the best interest of shareholders.
Initially, it seemed like Twitter was going to turn down the offer but the board started to take it more seriously when Musk offered details about how he would finance the deal. The company had adopted a defensive strategy known as the "poison pill" that would make it tougher for Musk to add to his stake in the company. The tactic allowed Twitter to accept a competing offer, if one emerged.
Twitter co-founder Jack Dorsey tweeted on April 15 that "as a public company, twitter has always been 'for sale.' that's the real issue." Twitter has dealt with leadership changes, layoffs and activist investors as a public company. After Twitter announced the deal, Dorsey said he didn't believe that anyone should own or run Twitter but taking it back from Wall Street is the "correct first step."
The idea and service is all that matters to me, and I will do whatever it takes to protect both. Twitter as a company has always been my sole issue and my biggest regret. It has been owned by Wall Street and the ad model. Taking it back from Wall Street is the correct first step.
— jack⚡️ (@jack) April 26, 2022
"Solving for the problem of it being a company however, Elon is the singular solution I trust," Dorsey tweeted. "I trust his mission to extend the light of consciousness."
A filing with the US Securities and Exchange Commission also shed more light on how the deal came together. Musk spoke to Twitter co-founder Jack Dorsey in March about the future of social media and decentralizing social media so users get more control over their data and what content they see.
Musk's effort to acquire Twitter has been a bumpy one. Musk rejected a seat on Twitter's board before offering to take the company private. Musk also had a conversation with Dorsey in early April in which Dorsey said he thought Twitter, a publicly traded company, would be better off as a private company, the filing shows.
How did Musk plan to pay for Twitter?
Even for Musk, who's worth about $220 billion, buying Twitter requires some financial juggling.
In an initial SEC filing on April 20, Musk said he had personally committed about $21 billion in equity financing. He also secured about $25.5 billion in debt financing through Morgan Stanley and other financial institutions.
Since then, Musk has raised capital by selling $8.5 billion in Tesla shares, presumably for the deal, and lined up $7.1 billion from outside investors. According to a May 4 filing, those investors include Sequoia Capital and Oracle co-founder Larry Ellison. (Ellison sits on Tesla's board of directors.) Saudi Arabian investor Prince Alwaleed bin Talal Bin Abdulaziz Alsaud also agreed to pledge his stake of roughly 35 million shares to the deal.
On May 24, Musk pledged more equity to the deal. He's now willing to put $33.5 billion toward the acquisition.
What happens next?
Twitter shareholders are scheduled vote on the deal at a special meeting in September. Meanwhile, Twitter is asking the Delaware Court of Chancery to enforce its agreement with Musk. A trial is expected to happen over five days in October. Killing the deal could cost Musk $1 billion because of a termination fee that's part of the agreement, according to an SEC filing on April 25.
Elon Musk Makes Tesla Superchargers Free for People Fleeing Ukraine
Elon Musk Makes Tesla Superchargers Free for People Fleeing Ukraine
Tesla owners fleeing Ukraine can use its Superchargers for free in four cities in bordering Poland, Hungary and Slovakia, according to a report from Electrek, which cited an email to local owners. This comes after Russian forces invaded Ukraine last week.
Both Tesla and non-Tesla electric vehicles can use the chargers at no cost in Trzebownisko, Poland; Košice, Slovakia; Miskolc, Hungary; and Debrecen, Hungary, the email reportedly said.
There are about 30,000 electric vehicles are on Ukraine's roads, the Kyiv Independent reported in January, compared to millions of non-EV cars in the country.
Around 660,000 refugees have fled Ukraine following the Russian military's invasion, the United Nations Refugee Agency estimated Tuesday.
Tesla no longer operates a public relations department to field requests for comment.
Read more: Russia Invades Ukraine: Latest Updates as Biden Bans Russian Planes From US Airspace
Tesla Has a Dedicated Lane at a US-Mexico Border Crossing, Report Says
Tesla Has a Dedicated Lane at a US-Mexico Border Crossing, Report Says
If you go from the US to Mexico through Texas, you might see a familiar logo over a traffic lane at the border crossing. According to Bloomberg, there's now a dedicated Tesla lane at a US-Mexico border crossing a few miles from Laredo, Texas.
Bloomberg reports that Elon Musk's firm struck a deal with one of Mexico's most pro-business states, but the details of the deal are unclear.
"It was a simple incentive," Ivan Rivas, the economy minister of Nuevo Leon, told Bloomberg. "What we want is a crossing that's much more expedited and efficient. And maybe there will be a lane for other companies in the future like there is for Tesla."
Rivas said the lane, located at the Colombia Solidarity checkpoint, will help Tesla suppliers quicken their crossing between the US and Mexico.
The Colombia Solidarity checkpoint is one of the less popular crossing stations, according to Bloomberg. The rules for the lane, like who handles paperwork for it, are unclear at this time.
Tesla didn't immediately respond to CNET's request for comment.
Tesla moved from Palo Alto, California, to Austin, Texas, in Dec. 2021. Musk moved the company from California in response to spats with local government over COVID-19 protocols in the US in 2020.
Elon Musk to Speak With Twitter Employees After Internal Outcry
Elon Musk to Speak With Twitter Employees After Internal Outcry
Twitter will host Elon Musk for an AMA, or "ask me anything," session with employees after internal outcry over the Telsa and SpaceX CEO joining the social network's board of directors.
Twitter CEO Parag Agrawal invited employees to the AMA, saying it would be a chance for them to ask Musk questions directly, The Washington Post reported, citing internal company messages and emails. A Twitter spokesman confirmed that Musk would join Agrawal for an AMA "soon" but didn't say when the event would take place.
See Also: 4 Changes Elon Musk Could Push at Twitter
"Following our board announcement, many of you have had different types of questions about Elon Musk, and I want to welcome you to ask those questions to him," Agrawal reportedly wrote in a companywide email Thursday.
On Tuesday, Agrawal tweeted that Musk will be joining the company's board of directors. The announcement came a day after Musk disclosed he had accumulated a 9.2% stake in Twitter, making him the company's largest shareholder.
"Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!," Musk tweeted after the announcement on Tuesday.
Twitter employees have reportedly expressed concerns that Musk could damage the company's culture or make it harder for workers to do their jobs at the social network. In a company Slack channel, one employee said people would likely face an HR investigation if they "tweeted some of the things Elon tweets," according to the Post. They continued: "Are board members held to the same standard?"
Royal Caribbean Cruise Ships to Get SpaceX Starlink Internet
Royal Caribbean Cruise Ships to Get SpaceX Starlink Internet
Royal Caribbean Group has announced it will be implementing internet connectivity on board its cruise ships using Elon Musk's SpaceX Starlink service.
The high-speed broadband service will be installed on all ships across the Royal Caribbean International, Celebrity Cruises and Silversea Cruises brands. Installation will begin "immediately," Royal Caribbean said Tuesday, and should be completed by the end of the first quarter of 2023.
"This technology ... will improve and enable more high-bandwidth activities like video streaming as well as activities like video calls," Jason Liberty, Royal Caribbean Group CEO, said in a statement.
Starlink uses more than 2,000 satellites orbiting in space to beam satellite internet connectivity around the world. Starlink is now available in more than 40 countries.
Elon Musk Says Tesla's FSD Software Is Getting a Price Hike Soon
Elon Musk Says Tesla's FSD Software Is Getting a Price Hike Soon
Elon Musk on Sunday tweeted that Tesla will raise the price of its "Full Self-Driving" beta software in North America from $12,000 to $15,000 on Sept. 5.
Orders made before that date will still cost $12,000, Musk wrote. The company has increased the price of FSD multiple times, most recently on Jan. 17, when the price went up by $2,000.
Despite what its name suggests, FSD is not a fully autonomous system. Rather, the system is "intended for use with a fully attentive driver, who has their hands on the wheel and is prepared to take over at any moment," per Tesla. (You can't buy a self-driving car anywhere yet). Drivers who purchase FSD will have access to Tesla's driver assistance features included in Tesla's Autopilot and Enhanced Autopilot packages (automatic parking, automatic lane changes and more).
The price hike will follow the wide release of FSD beta version 10.69.2, Musk noted in the tweet. In a separate tweet, Musk wrote that FSD beta 10.69 had begun to roll out, and "10.69.2 in a few weeks should be good enough to provide to all FSD beta participants." According to TechCrunch, this version "boasts upgrades like improved unprotected left turns, a 17% improvement of velocity error for pedestrians and bicyclists, and a new 'deep lane guidance' module for smoother lane switches."
Musk also wrote that Tesla owners can upgrade their existing car to FSD in two minutes through the Tesla app.
Crypto Security: Protect Your Coins and NFTs From Being Stolen
Crypto Security: Protect Your Coins and NFTs From Being Stolen
With crypto prices in free fall, crypto firms laying off thousands of workers and coins that are considered "stable" losing all their value, it's more important than ever to secure your remaining portfolio.
The current crypto crash isn't the only way people are losing their money. There have been an increasing number of scams that give thieves access to your accounts and crypto assets. Just recently in May, Seth Green had several NFTs worth over $300,000 stolen, after the actor connected his crypto wallet to a scam website pretending to be a credible NFT project.
Protecting your crypto means taking some of the same steps you'd use to safeguard your other digital accounts, such as creating and using strong passwords. However, crypto accounts have unique characteristics like seed phrases that require additional security. Also, the crypto industry still lacks the regulatory framework necessary for the retrieval of your crypto assets if they're stolen.
In this story, we'll cover several ways you can protect your cryptocurrency and NFTs from being purloined and explain why it's worth taking the time to properly secure your digital assets from being stolen. For more on crypto, learn five questions every investor should ask about cryptocurrency and the latest details on bitcoin's wild price swings.
Always follow these two basic password security rules
One of the easiest ways to protect your digital assets is with strong passwords. Ideally, you want your passwords to be at least eight characters long and include random capital letters, numbers and other special characters. If you can make your password longer, however, you should, because the longer the password, the harder it is to crack, in theory.
If you're worried about remembering all of your long, complicated and unique passwords, consider using a password manager, which makes it simple and secure to store and use your passwords from one place. We recommended choosing a password manager with encrypted storage and two-factor authentication for extra security.
Also, when creating an account, never repeat your passwords. If one of your accounts is compromised, your others will also be at risk.
A strong password is vital to keeping your digital assets secure.
James Martin/CNET
Use a hardware crypto wallet for your most treasured assets
Your crypto wallet serves as the gateway to your crypto assets. "Hot" wallets such as software or mobile apps operate online, while "cold" wallets are hardware devices that work offline. Crypto wallets don't hold the actual coins or tokens -- they store the private keys that prove you own your crypto assets and let you buy, sell or trade on blockchains.
Anytime you purchase cryptocurrency or NFTs, they must be stored somewhere. Most people keep their assets in a digital wallet or marketplace, such as Coinbase or MetaMask, because they're free and easy to use, but for your most valuable holdings, you may want to consider a physical wallet.
A hardware, or cold, wallet allows you to store cryptocurrency and NFTs on a physical drive, which you can connect to a computer to access. Hardware wallets are generally more difficult to hack into, so they're a preferred option when storing digital assets that are especially high in value.
The Trezor One hardware wallet ($48.49) works with bitcoin, ethereum, litecoin and a variety of other cryptocurrencies.
Trezor
Here's more on the different types of crypto wallets.
Keep the seed phrase for your crypto wallet secure and offline
In addition to a password, most crypto wallets use a seed phrase for additional security. This seed phrase acts like a master password and is created whenever you set up a new wallet. A seed phrase is made up of 12 or 24 words that you can use to sign in to your account on other devices, or recover your account if you forget your password.
While this seed phrase provides additional security, it also comes with risk -- anyone who learns your seed phrase could potentially steal all the crypto assets recorded in your wallet. While you might be tempted to store your seed phrase somewhere online, it's crucial to write it down -- offline -- to prevent anyone from accessing it.
Once you write down your seed phrase, store it in a safe or lockbox, so that it's not easy for anyone else to access. Specialized seed phrase hardware tools, like Cryptosteel and Crypt Keeper, can securely store your 12 or 24 words in a portable system that's protected from fire and flooding.
If your seed phrase is either lost or stolen, but you still know your password, immediately log in to your wallet and generate a brand new seed phrase.
This is an example of a randomly created 24-word seed phrase.
Nelson Aguilar/CNET
Be wary of frauds in direct messages on Discord
Discord is one of the unofficial homes of crypto and NFT communities. It's where many crypto enthusiasts go to discuss upcoming NFT projects, cryptocurrency prices, real-life events and even personal lives. Fans of NFT projects use Discord to form communities -- but it's also where hackers and thieves go to compromise accounts.
Here's how it works: A hacker may directly message you, pretending to be part of a project that you're following and interested in. The DM looks official and usually claims that you can mint an NFT that's difficult to get, at a relatively cheap price, and includes a link to follow. But when you click the link, connect your wallet and attempt to purchase the NFT, your wallet is drained of all your NFTs and crypto. And there's really no way to get it all back.
The most important research you can do to avoid falling for a fake NFT website is to use verified channels to find the correct website when attempting to mint or purchase a newly created NFT. Even if you receive a link from what seems like a credible source, use multiple online sources like Google, Twitter and Opensea to verify that you have the correct URL for the project.
An even simpler method to avoid falling into a scam is to disable DMs on Discord. On your mobile device, launch the Discord app, tap your profile picture on the bottom right, go into Privacy & Safety, and toggle off Allow Direct Messages From Server Members. You'll no longer receive direct messages on Discord.
Discord is where people go to discuss cryptocurrency and NFTs, as well as prey on potential victims.
Discord
Don't fall for support scams on Twitter
Like Discord, Twitter is a hunting ground for hackers looking to swindle unsuspecting victims into giving away their assets.
On Twitter, anytime someone mentions "stolen account," "lost password" or even "MetaMask," an army of hackers may respond, offering to help recover stolen assets or restore access into accounts. Hackers may then ask for your seed phrase via DM and use it to steal your crypto or NFTs.
If you need support, go straight to the official customer service site on Twitter. Never give anyone your seed phrase, ever, even if an account is verified -- sometimes hackers have access to verified accounts. And never share your screen.
Not even Elon Musk can stop these Twitter scammers.
James Martin/CNET
For more about cryptocurrency security, learn whether it's possible to insure bitcoin and how the Securities and Exchange Commission is taking on crypto fraud.
Tesla Now Wants You to Pay Extra for a Level 1 Charger With Its Vehicles
Tesla Now Wants You to Pay Extra for a Level 1 Charger With Its Vehicles
Historically speaking, when someone has bought an electric vehicle, it's come with a 110-volt mobile charger. It makes sense, right? You might need to charge in an emergency, or maybe you don't have a Level 2 charger at home. Well, like our old friend Bob said, "The times they are a-changin'," because Tesla is no longer including a 110-volt charger with its new vehicles.
This news was reported Saturday by InsideEVs and confirmed by Tesla CEO Elon Musk in a Tweet. His stated reasoning for getting rid of the included 110-volt charger is that people don't use them. That makes sense when you think about just how long it takes to charge any EV on 110 volts. Our long-term Mini Cooper SE takes multiple days to go from around 10% charge to 100%, and its battery is tiny compared with a Tesla's.
Of course, taking away something that people have gotten used to getting for free is a sure way to get people riled up on social media. In response, Musk tweeted that Tesla would offer the Level 1 charging kit for $200 and make it easy to order along with the car. As of publication, it's not part of the Model 3 or Model Y configurators, though.
Interestingly, Tesla isn't the only company bailing on the venerable old 110-volt wall charger. Kia's EV6, for example, also doesn't include one, but people don't seem as angry about that. That could be down to it being a new model, or -- and this seems more likely -- Kia fans just aren't as rabid as Tesla fans.
Typically, we'd contact a car company for more information in situations like these, but Tesla does not operate a public relations department to field requests for comment.
Tesla Cybertruck Reservations Now Limited to North America
Tesla Cybertruck Reservations Now Limited to North America
Tesla is limiting reservations of its upcoming Cybertruck, first announced in 2019, to North America, cutting off Europe and Asia.
If you try to change the region on the Cybertruck reservation page, the only options now available are the United States, Canada and Mexico. The change was reported earlier Monday by Electrek.
Cybertruck reservation page has dropped Europe and Asia.
Screengrab via Imad Khan/CNET
The company began taking reservations for the Semi earlier today, requiring a $20,000 deposit.
Earlier this year, Tesla CEO Elon Musk blamed ongoing supply chain issues for the truck's lengthy lead-up to launch. At the moment, production is expected to start in 2023.
Tesla dissolved its public relations relations department in 2020, meaning it's not possible to ask for a comment. Musk hasn't tweeted about the change, either.
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Elon Musk asked in Twitter poll if he should sell Tesla stock to pay taxes. People said 'Yes'
Elon Musk asked in Twitter poll if he should sell Tesla stock to pay taxes. People said 'Yes'
Tesla CEO Elon Musk should sell 10% of his stock in the electric-car maker he founded in order to pay taxes, according to the results of a poll he posted to Twitter on Saturday. Nearly 58% of the more than 3.5 million people who took part in the poll voted for the stock sale by the time the poll closed on Sunday.
Musk said Saturday he would honor the results of the poll, which came amid continuing discussions of a "billionaire's tax." Amid the attention garnered by the online poll over the weekend, Musk changed this Twitter name to "Lorde Edge," which itself became a trending topic on the social network on Monday.
"Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock," Musk tweeted, "Do you support this?" Musk, one of the world's richest people, included a Yes or No poll in the tweet, saying, "I will abide by the results of this poll, whichever way it goes."
"Note, I do not take a cash salary or bonus from anywhere," Musk added. "I only have stock, thus the only way for me to pay taxes personally is to sell stock."
Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.
Do you support this?
— Elon Musk (@elonmusk) November 6, 2021
Musk's remarks come as Democrats have been wrangling over a proposal to fund a large social-safety-net bill by taxing billionaires' unrealized capital gains, or the increase in value of unsold assets they hold, like stocks, bonds and real estate.
In June, investigative site ProPublica got hold of a cache of IRS documents and reported that Musk and other moguls, by structuring their pay to avoid income, built their wealth into the high billions while paying almost nothing in federal taxes. The activity wasn't against the law, ProPublica said, but the tax records reveal how the uber-wealthy minimize taxes, sometimes by taking out loans using their stock holdings as collateral. By comparison, wage earners live primarily off their paychecks, which are taxed as income.
Sen. Ron Wyden, chairman of the Senate Finance Committee, commented on Musk's poll on Saturday, saying "whether or not the world's wealthiest man pays any taxes at all shouldn't depend on the results of a Twitter poll." He added that it's "time for the Billionaires Income Tax."
Musk responded in a tweet on Sunday with a vulgar comment about Wyden's profile picture.
It's unclear when or if Musk will sell the 10% of his Tesla stock. Shares in the electric car company fell roughly 5% in premarket trading on Monday.
Musk doesn't accept direct messages through his Twitter account. Tesla didn't immediately respond to a request for comment.
CNET's Laura Hautala and Carrie Mihalcik contributed to this report.
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Twelve-year-old coder reportedly slated to earn more than $400K from NFTs
Twelve-year-old coder reportedly slated to earn more than $400K from NFTs
Benyamin Ahmed, a 12-year-old coder based in London, is getting a lot of attention lately thanks to the flurry of press he's gotten for creating a collection of digital whales that are selling as NFTs. According to CNBC, Ahmed is on track to earn over $400,000 from the collection, which launched just last month.
The young entrepreneur started learning to code at 5 years old after being inspired by his dad Imran, a web developer. Earlier this year, Benyamin became interested in NFTs, those ubiquitous nonfungible tokens tied to everything from videos to artwork to tweets. Like cryptocurrency, NFTs are recorded in a digital ledger, so there's a listing of who owns what.
Ahmed launched his first NFT collection earlier this summer consisting of 40 avatars called Minecraft Yee Haa he coded and designed himself. While that collection didn't sell right away, he started work on another in June called Weird Whales, featuring 3,350 pixelated whales with attributes like different colors and hats. He learned to code the collection from online tutorials and people he met on gaming chat app Discord, he described in a Q&A video on YouTube.
The collection launched in July and reportedly sold out in nine hours. That day, Ahmed made more than 80 ether (another cryptocurrency like bitcoin). According to CNBC, he's kept those profits in ether, which with today's pricing amounts to over $255,000. With the additional 30 ether he's earned from resales (he reportedly gets a 2.5% royalty on each secondary sale), Ahmed has now made more than $350,000, and told CNBC he's slated to reach over $400,000 (roughly £290,592, AU$547,046) by the end of the month.
Reddit co-founder Alexis Ohanian tweeted about Ahmed on Friday, writing, "Ya'll paying attention yet?" along with a link to CNBC's story.
Ahmed, who currently has more than 10,000 followers on Twitter, told the publication he only has a cryptocurrency wallet, not a traditional bank account, adding: "I plan to keep all my ether and not convert it to fiat money. It might be early proof that, in the future, maybe everyone doesn't [need] a bank account and just has an ether address and a wallet."
He's reportedly already working on another NFT project.
"If I carry on as I've been," he told the publication, "I might end up like other tech entrepreneurs out there like Elon Musk and Jeff Bezos."
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SpaceX Fires Workers After Letter Calls Elon Musk an 'Embarrassment,' Report Says
SpaceX Fires Workers After Letter Calls Elon Musk an 'Embarrassment,' Report Says
SpaceX has fired the employees involved in writing and sending a letter to company executives that expressed concern about the behavior of CEO Elon Musk and called for improvements to workplace culture, The New York Times reported Friday.
The open letter was reportedly posted Wednesday to an internal Microsoft Teams channel and said Musk's "behavior in the public sphere is a frequent source of distraction and embarrassment for us, particularly in recent weeks." It urged executives to "make clear to our teams and to our potential talent pool that his messaging does not reflect our work, our mission, or our values," according to a copy seen by The Verge.
By Thursday, SpaceX President Gwynne Shotwell said in an email that the rocket company had "terminated a number of employees involved" with the open letter, according to the Times. It's unclear how many employees were fired.
In the email, which was seen by the Times, Shotwell reportedly said that the "letter, solicitations and general process made employees feel uncomfortable, intimidated and bullied," adding that "we have too much critical work to accomplish and no need for this kind of overreaching activism."
SpaceX didn't immediately respond to a request for comment.
Musk, who's also the head of electric car company Tesla, is outspoken on Twitter and has more than 98 million followers. He has rankled people with tweets critics have called sexist and juvenile, among other things. The letter from SpaceX employees reportedly said that every tweet from Musk is seen as a "de facto public statement by the company."
In the letter, employees asked the company to hold leadership responsible for fostering an inclusive workplace and to clearly define and enforce workplace culture policies. They specifically asked leadership to condemn the CEO's Twitter behavior. Musk is also trying to buy Twitter.
The letter comes nearly a month after reports that the company allegedly paid a $250,000 settlement to a flight attendant who said Musk exposed himself to her. Musk denied the allegations on Twitter, calling them "utterly untrue." Shotwell also reportedly defended Musk in an email to employees, saying she'd worked "closely with him for 20 years and never seen nor heard anything resembling these allegations."
Multiple women last year made allegations of sexual harassment at SpaceX, including a former engineer who wrote in an essay that the company's culture was in a "state of disrepair and dysfunction so great that the only remedy, finally, was to leave."
Tesla has faced lawsuits over sexual harassment at one of its plants and was sued in February by the California Department of Fair Employment and Housing for alleged racial discrimination and harassment. Tesla said in a blog post at the time that it "strongly opposes all forms of discrimination and harassment and has a dedicated Employee Relations team that responds to and investigates all complaints."
It's unclear how many SpaceX employees signed the letter to executives.
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Elon Musk Says a Neuralink Update Is Coming on Halloween
Elon Musk Says a Neuralink Update Is Coming on Halloween
If you're spooked by the idea of implants directly inserted in the brain to allow humans to communicate directly with computers, then Elon Musk is planning a Halloween trick direct from your nightmares.
The billionaire entrepreneur tweeted Monday that a "progress update show & tell" will take place Oct. 31 for his brain-computer interface company Neuralink.
Neuralink demonstrations in 2020 and 2021 have shown the technology at work with pigs and monkeys.
Musk's tweet follows a report on Friday from Reuters that he's frustrated with the rate of progress at the company. The report also states that Musk approached New York-based Synchron, which is developing a less invasive implant, about a potential investment deal.
Neuralink didn't immediately respond to a request for comment. A representative for Synchron declined to comment.
Musk started Neuralink in 2016 with the goal of creating an implantable device that would allow humans to directly interact with computers via the brain rather than traditional, slower input devices like touch screens, keyboards or even voice assistants. He has pitched the project as a means of helping humanity keep up with advances in artificial intelligence, but more recently the focus has been on creating a device to help restore capabilities to people with disabilities.
In May, Synchron beat Neuralink to become the first company to implant a brain-computer interface in the United States, something Musk said last year that he hoped his company would accomplish in 2022.
Synchron's first device is called the Stentrode, designed for patients with paralysis to be able to wirelessly control digital devices through thought. The company's mission makes no mentions of keeping up with artificial intelligence.
