No car company is making more headlines right now than Tesla. Can the electric vehicle company stay ahead in the battle for electric car dominance?
Mark Rechtin, Executive Editor at Motor Trend, says Tesla's competitors are quickly gaining ground. Motor Trend tested out the Tesla Model 3, Nissan Leaf, and Chevrolet Bolt. Rechtin says that the Leaf and Bolt offer the best options, especially if you don't have $60,000 to spend on a Tesla.
Rechtin also discusses the ongoing problems Tesla is having with its Model 3 production. The company continues to fall behind its original target numbers, while its CEO Elon Musk is tweeting about a possible Tesla pickup truck. Rechtin says Musk should focus more on the Model 3 and less on his dream projects.
Hans Vestberg, CEO of Verizon Communications, said that the newest 5G network that Verizon is launching in four new cities, is the answer for cord-cutters. The network is the fastest on the market, and Vestberg said it's "a new way to get TV into your home."
Wells Fargo has officially launched a new digital organizer "Control Tower" within its mobile banking app, so customers nationwide can track their increasingly complex and scattered financial footprints. Ben Soccorsy, head of digital payments for Wells Fargo Virtual Channels, told Cheddar, "Customers want the ability to control their data and share it when and how they want."
Tesla looked to claw back its losses Monday after Elon Musk settled a lawsuit with the SEC, agreeing to pay a $20 million fine and step down as chairman for at least three years.
Rafat Ali, the CEO of Skift, took his employees to Puerto Rico to see the destruction from Hurricane Maria firsthand, which became the inspiration for the Skift Foundation. He said the foundation supports destinations and small businesses in the hospitality and travel sector that need additional resources.
Relief for migraine suffers may, at long last, be imminent. With the FDA approving Eli Lilly's Emgality drug, Christi Shaw, president of Lilly Bio-Medicines, expounded on the drug's potential efficacy. The company has said it will offer the treatment to chronic migraine suffers with commercial insurance for free for a year.
Shares of the EV maker fell by more than 14 percent, their biggest one-day drop since January 2012. The sell-off was prompted by Thursday's fraud charges filed by the SEC against CEO Elon Musk.
Shares of Tesla dropped after hours Thursday after the Securities and Exchange Commission filed a [lawsuit] (https://www.scribd.com/document/389617044/SEC-vs-MUSK#from_embed) against CEO Elon Musk in federal court, alleging that the billionaire founder committed securities fraud when he tweeted about taking the company private with "funding secured" on Aug. 7. In the complaint, the SEC seeks to bar Musk from being an officer of a public company.
In the age of fake news and privacy concerns, people are asking if Big Tech needs more regulations, specifically from the federal government. John Chambers, former CEO and executive chairman of Cisco, said if Big Tech doesn't implement its own internal regulations, the government can ー and should ー step in.
Compound has raised $8 million in funding for its newest venture, money markets for Ethereum assets which allow investors to earn interest on their cryptocurrency. Robert Leshner, founder and CEO of Compound, said this is new technology for cryptocurrency lending markets.
Facebook announced its newest VR headset that will ship next year. "Oculus Quest" offers users the same virtual experience, but now users are able to move more freely while wearing the headset. Andrew Bosworth, VP of VR/AR at Facebook, said this is the next step in better connecting people around the world.
