Saturday☕️

Nov 18, 2023 • 4 min read

Trending:

Markets:

Amazon Car Sales:

Starting from 2024, Amazon will introduce a service for buying new cars online, beginning with vehicles from Hyundai. This service will enable customers to select, purchase, and arrange for the delivery or pickup of new cars through Amazon's platform. The initiative represents an expansion of Amazon’s automotive reach, which previously included digital showrooms for comparing vehicles and selling car-related products.
The collaboration between Amazon and Hyundai will also feature the integration of Amazon's Alexa voice assistant into Hyundai cars starting in 2025. The move by Amazon into car sales underscores the complex landscape of automotive retail, particularly the regulations surrounding the sale of new cars, which are often governed by state laws and traditionally involve dealership networks.
In contrast, the used car market faces fewer legal barriers for online sales, a domain companies like Carvana have already been exploring. Electric vehicle makers such as Tesla and Rivian have previously challenged the traditional dealership model by selling directly to consumers, often navigating or contesting state laws. Amazon's new venture represents a significant merging of online retail convenience with the automotive sales industry, potentially altering the traditional car buying experience.

SpaceX Starship Launch:

Today, SpaceX is set for its second test launch of the Starship rocket. This test is part of SpaceX's ambitious plans for space exploration, including missions to Mars and the Moon. The event is scheduled at the Starbase facility in Boca Chica, Texas, and will be available for public viewing via live stream on X.
The Starship rocket, when fully assembled, stands taller than the Statue of Liberty. Its powerful Super Heavy booster surpasses the thrust of NASA's Space Launch System, making it the most powerful rocket to date. The design focuses on full reusability, aiming to reduce space travel costs significantly.
This test comes after adjustments made following the initial test's failure, involving stage separation issues. The Federal Aviation Administration has approved today's launch, despite some environmental concerns. The rocket has undergone several safety and design enhancements, including a new separation technique and improvements to its launchpad infrastructure.

OpenAI Removes Sam Altman:

On Friday, OpenAI's board of directors announced the removal of Sam Altman from his position as CEO. Altman, who co-founded OpenAI with Elon Musk and others in 2015, has been at the helm of the company known for developing ChatGPT. OpenAI, with a reported valuation exceeding $80 billion, has made this decision following a thorough evaluation of Altman's leadership.
The board expressed a lack of trust in Altman’s continued leadership at OpenAI, citing issues with his transparency. They conducted an extensive review and found that Altman's communication with the board was not consistently honest, which they felt compromised their ability to fulfill their governance duties effectively. This decision marks a significant change in leadership for the AI-focused company.

Statistic:

Top 50 companies by market capitalization: