Millennials Are Investing in Robotics and Artificial Intelligence
Morgan Stanley is getting into the “robo-advice” business, where software manages funds instead of people. The service, Access Investing, is aimed at younger investors, and helps them put their money with the businesses they’re most interested in.
“Forty percent of our clients have chosen to invest in a theme, and the most popular ones [are] robotics and artificial intelligence,” Naureen Hassan, Chief Digital Officer for Wealth Management at Morgan Stanley, told Cheddar.
The financial firm rolled out its Access Investing division, which focuses on advising clients online, in December. Hassan says that her team has seen a lot of engagement with from people 45 and under.
Robo-advisers, or digital investment portfolios, are not very new. The field has competitors, such as Betterment or Wealthfront, that have been making strides in the sector.
But Morgan Stanley says it’s betting on its legacy to differentiate itself in the industry.
“We think it’s the Morgan Stanley investing expertise that really differentiates it,” Hassan said. “That’s why we are offering clients choice, it just isn’t only a passive portfolio, we believe in a mix of assets.”
The streaming service added more than 7.4 million new users in the first quarter. The fact that so much of that growth is coming from the international market is a positive for investors, says Kyle Robertson, Founder and Editor-in-Chief of StartU.
Tesla is temporarily suspending production of its Model 3 vehicle in an effort to reduce manufacturing bottlenecks. The pause in production was planned and is expected to last less than a week. However, this is the second time Tesla has paused Model 3 production since February, leading many to worry about whether the company can deliver on its ambitious production targets.
Netflix is off to a strong start this year. The stock surged after the company reported first-quarter earnings, disclosing that the company added 7.4 million subscribers in the first three months of this year. Netflix now has 125 million subscribers globally.
A recent report by the investigative news site Reveal found that Tesla's factory is ridden with safety hazards, and that the carmaker categorizes workplace injuries as "personal medical issues" to decrease its rate of injuries. The company puts "production of cars over worker safety," said Will Evans, one of the reporters who wrote the article.
The delivery service will help the retailing giant crack the "last mile problem" with speed while driving down costs, says Dan Mosher, SVP and Merchant Lead at Postmates.
Since its redesign, publishers on Snapchat's Discover channels have seen their engagement numbers plummet. That's not a coincidence, says Madison Malone Kircher, Associate Editor at New York Magazine's Select All.
After Facebook CEO Mark Zuckerberg's testimony on Capitol Hill this week, all eyes are on the kinds of regulation that may come for the tech industry. If Congress is serious about data protection, then questioning "Google is the next logical step," says Molly Wood, host of Marketplace Tech.
Plated meal kits are now in Albertsons grocery stores. That means getting its offerings in front of people who want single portions or last-minute meals, says CEO and co-founder Josh Hix, something online subscriptions can't offer.
Elon Musk, CEO of the electric car maker, tweeted that Tesla would be profitable and cash flow positive by the end of the year. Though many investors rejoiced, Gene Munster, Managing Partner at Loup Ventures, thinks it will take Tesla nearly three years to pull off that feat.
James Comey's new book "A Higher Loyalty" officially hits stores on Tuesday, but juicy details are already leaking out. The former FBI Director likens President Trump to a mob boss in the book. Trump criticized Comey on Twitter on Friday, calling him an "untruthful slime ball." Comey will do an interview this Sunday ahead of the book's release.
President Trump issued an executive order late Thursday night calling for a review of the U.S. Postal Service. The president wants a task force to look into the financial troubles facing the USPS. In recent weeks, Trump has criticized Amazon for contributing to the USPS's financial downfall. Even though Trump didn't specifically mention Amazon in the executive order, it's implied that he wants the task force to look into his claims against the tech giant.
And Cheddar CEO Jon Steinberg sits down with two-time NBA all-star Baron Davis to chat about his life as a tech investor. He's the founder of Sports and Lifestyle in Culture, or SLIC, a company that features and promotes original content from athletes.
