Food trucks in the U.S. have taken many forms, but have long been a popular option for dining. Now as the coronavirus pandemic alters the way we interact and engage with others, these kitchens on wheels may have a new function, especially on college campuses.
Rod Keller, CEO of the electric vehicle manufacturer AYRO is jumping at the opportunity to capitalize on the niche industry in a partnership with Gallery Carts. The new collaboration will combine AYRO's expertise in developing electric vehicles with Gallery's expertise in creating food delivery vehicles.
"Colleges are faced with, 'Well how do we provide food and beverage while at the same time, avoiding the mass crowds that you would typically see inside of a cafeteria?'" Keller told Cheddar.
So far, more than $500,000 has been poured into the collaboration as orders for the vehicles continue to amass. Keller said he's confident that as universities and other large campuses seek safer ways to feed their communities amid the pandemic, the need for their services will grow.
AYRO is also banking on buyers in higher education considering the long-term savings electric vehicles can provide. Keller said its electric vehicles save fleet operators at least 50 percent on fuel and energy costs.
"When people are moving cargo from one side of a university to another, or business campus, or hotel and resort, you don't need a full-sized truck with 400 miles of range running on gasoline to do that," Keller said.
Facebook reported a beat on its Q3 earnings on Monday, despite a miss on revenue. This comes as the social media giant has found itself entrenched in negative headlines of late. Timothy Lesko, Partner and Portfolio Manager at Granite Investment Advisors, joined Cheddar to break down the latest.
Facebook has been in the midst of a media firestorm thanks to the Wall Street Journal scathing report and Frances Haugen's whistleblowing among other news. With the social media giant set to release its Q3 earnings after the bell, Cheddar News caught up with John Quelch, Dean of Miami Herbery Business School to discuss what to expect.
Jill and Carlo cover the news out of Facebook's latest earnings, Tesla's monumental day, Dave Chappelle addresses controversy and the tragedy of the climate emergency.
Stocks began the week on a high note, with two indexes - the Dow and the S&P 500 - each closing at a record high. Brian Levitt, Global Market Strategist at Invesco, joins Cheddar News' Closing Bell, where he explains why the conditions were in place for a jump during the session and provides insight on inflation concerns in the United States.
The price of Bitcoin hit a new all-time high last week following the Wall Street debut of ProShares Bitcoin Strategy ETF. Todd Cipperman, Founding Principal for Cipperman Compliance Services, joins Cheddar News' Closing Bell, where he explains why ProShares' ETF got off to a hot start while Valkyrie's Bitcoin Strategy ETF, which debuted just days later, did not.
Edtech startup ENTITY Academy raised $100 million in its latest round of funding. The company's platform offers tech training to women via online courses, in areas like data science and software development. The courses include mentoring and career coaching from people working in the tech industry. ENTITY Academy's founder and CEO Jennifer Schwab joined Cheddar News' Closing Bell to talk more about the company and the funding.
On Monday Microsoft reported that the same Russia-backed hackers behind the 2020 SolarWinds attack have been assailing the global technology supply chain and cloud services. The former White House CIO under President George W. Bush and CEO of the security consulting company Fortalice Solutions, Theresa Payton, joined Cheddar to discuss why cyberattackers are relentlessly focused on infiltrating tech companies and what the future holds in terms of combating them. "This will be an ever-present danger and a journey," she said. "Locking down your systems is not going to be something you do once, and then you set it and forget it. It's going to be an ongoing journey that we're all going to be on together."
