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.
Bitcoin received its first update in four years called Taproot. Unlike the previous bitcoin update in 2017, Taproot has widespread support — in part because these changes involve fairly incremental improvements to the code. Christie Harkin, tech managing editor at CoinDesk, explained what the move could mean for the future of cryptocurrencies as a whole.
Snap has announced a licensing deal with Sony Music, giving its social media platform Snapchat access to the label's entire catalog. The deal now gives the company agreements with all of the major industry labels.
Jay-Z's Roc Nation is teaming up with The Reform Alliance to host a job fair at Madison Square Garden later this week. The event is aimed at helping disadvantaged people in NYC, including single parents and the formerly incarcerated, get jobs in the city. Participating companies include Zara, Amazon, Live Nation, VICE, and a slew of others. Dania Diaz, Managing Director, Roc Nation, joined Cheddar's Opening Bell to discuss what attendees can expect.
Kyndryl isn't wasting any time as an independent company. Just over a week after spinning off from IBM, the IT infrastructure services provider has announced its first global strategic partner in Microsoft. The two tech giants are coming together to form a new kind of power duo, creating multi-billion dollar revenue opportunities between the companies. Stephen Leonard, global alliances & partnerships leader for Kyndryl, told Cheddar more about the partnership and what it aims to achieve.
Eric Diton, President & Managing Director of The Wealth Alliance, discusses why inflation remains a long-term headwind for the market and what it means for consumer spending for the rest of the year.
Francis Oh, APAC CEO at Qraft Technologies, discusses how inflationary pressures could impact corporate earnings, and why the electric vehicle market is one to watch as ESG investing picks up.
Bitcoin has successfully activated Taproot, the cryptocurrency's first major upgrade since 2017 and a highly anticipated change to the blockchain. Taproot will introduce what's known as Schnorr signatures, which will help transactions become more private, efficient and perhaps even less expensive. Robert Hackett, a cryptocurrency expert and journalist, breaks down the new upgrade and what it means for bitcoin users.
Jharonne Martis, director of consumer spending at Refinitiv, joined Wake Up With Cheddar's Brad Smith to break down positive earnings results from Home Depot and Walmart. Martis also discussed what October's retail sales data means for the upcoming holiday season.
The housing market is hot right now - so hot it was too much for Zillow to handle. While the pandemic is playing a major part in that, now it has reached a point where houses on average are only on the market for about a week before being sold. Cheddar News was joined by Tushar Garg, CEO and Co-Founder of Flyhomes to talk about how this came to be and what comes next.
Markets were pointing to a higher open to kick off the third trading week in November. It comes as stocks come off a losing week in reaction to October's consumer price index--which showed inflation at its highest point in over 30 years.
Ryan Detrick, Chief Market Strategist for LPL Financial joined Wake Up with Cheddar to discuss.
