If you're searching for the future of transportation, look up. Transportation startup Skyryse just completed an end-to-end autonomous helicopter flight, where the pilot never had to touch the controls.
"This is a really large step toward realizing a transportation system in the sky that can one day move us away from the cars and the crumbling infrastructure that is throughout our cities," explained Mark Groden, the company's founder and CEO.
While the helicopter, called Luna, isn't to be overlooked, it isn't the main attraction as far as Skyryse is concerned. That distinction belongs to the Skyryse Flight Stack technology, which the company hopes will revolutionize short-distance air travel. The sector is flooded right now, with as many as 130 companies looking for a piece of the pie, including big names like Uber involved. Skyryse isn't looking to beat them, but assist them.
"What we're focused on is building the technology that will lead to this transportation system," said Groden.
Reliable, widely-used short-distance air travel has seemed like something of a pipe dream until now, but Groden is quick to point out the first automated flight actually took place decades ago, when the Lockheed-1011 safely crossed the Atlantic. The idea of automated air travel isn't a new one, and the CEO believes it will expedite the process of making it a reality.
"The pragmatic approach we're taking, following existing paths that the FAA is already very keen to work with us on, will allow us to realize this in single-digit years, and far sooner than I think a lot of people expect," he said.
Art Hogan, Chief Market Strategist at National Securities, joined Cheddar News' Closing Bell, where he says investors are taking a wait-and-see approach when it comes to the situation between Russia and the Ukraine and elaborates on the impact higher oil prices stemming from the conflict would have on the market.
Kyle Jaeger, senior editor for Marijuana Moment, joined Cheddar News' Closing Bell, where he explains why a stigma still exists for the cannabis industry in advertising and social media after NBC rejected Weedmaps' ad for the big game even though more states across the country are legalizing cannabis.
A bipartisan bill introduced by U.S. Senators Amy Klobuchar (D-MN) and Cynthia Lummis (R-WY) aims to tackle the spread of misinformation on social media platforms, as well as the addictive nature of the sites and negative mental health impacts they have on users. The 'Nudge Act' would require studies to find and compile potential interventions that platforms could use to encourage people to think before they share a post, or log off after spending too much time on an app. The FTC would create rules based on these findings, and hold the platforms accountable. But will it work? Jesse Lehrich, co-founder of Accountable Tech, joins Closing Bell to discuss the bill, whether real results and regulations could come from it, and more.
We know that the Los Angeles Rams emerged as Super Bowl champions, but the crypto industry also came out a winner on Sunday with several notable companies getting airtime in primetime. However, Richard Smith, author of the Risk Rituals Newsletter, joins Cheddar News' Closing Bell, where he says the campaigns were a 'disappointment' and adds that crypto companies would be wiser spending their resources on creating value.
A.I.-based entertainment company, Deedub, recently raised
$20 million in a Series A round, led by Insight Partners. Deepdub uses A.I. technology to automate the dubbing process for foreign-language movies or TV shows, while using actors' original voices. The company says it can take just two to three minutes of data from an actor's voice and transform the voice into a different language. The funding comes as foreign-language films and shows like Netflix's 'Squid Game' have recently become more popular with audiences in the U.S. and around the world. Oz Krakowski, Chief Revenue Officer at Deepdub, joins Cheddar News' Closing Bell to discuss.
Energy Vault, the company developing sustainable, grid-scale energy storage solutions, is now trading on the New York Stock Exchange following the completion of its business combination with Novus Capital Corporation II. Energy Vault develops sustainable, grid-scale energy storage solutions designed to advance the transition to a carbon free, resilient power grid. Robert Piconi, co-founder and CEO of Energy Vault, joins Cheddar News' Closing Bell to disucss.
