*By Carlo Versano*
Shares of Tesla jumped more than 15 percent in the pre-market Monday on news that CEO Elon Musk settled a lawsuit with the SEC over Musk's social media use.
Under the terms of the settlement, Musk will step down as chairman of Tesla ($TSLA) for at least three years but can remain in the chief executive role. He and the company must each pay $20 million in fines. Two independent board members will also be appointed.
Federal regulators sued Musk last week, arguing that his infamous Aug. 7 "funding secured" tweet amounted to securities fraud. The lawsuit was filed after Musk reportedly scuttled a last-minute deal with the agency under which he would resign as chairman and pay a fine but not admit to any wrongdoing. Talks restarted soon after, and by Saturday a new settlement was in place.
The settlement takes care of one major headache for investors, who will now look to the car maker's third-quarter production and delivery numbers, which may be reported as early as Monday. Musk [reportedly] (https://www.cnbc.com/2018/09/30/elon-musk-tells-tesla-to-ignore-distractions-hints-at-profitability.html) emailed employees over the weekend, telling them to "ignore all distractions" and that the company was approaching profitability.
Scott Belsky, the chief product officer at Adobe and author of 'The Messy Middle,' told Cheddar that good design now shapes how we use technology, on everything from new voice tech to augmented reality.
Astronaut Scott Kelly saw the sun rise and set about 32 times each day during the 520 total days he spent in outer space. He also spent considerable time looking at Planet Earth. Naturally, it changed his perspective ー in the most literal sense. Kelly shares that new perspective through images in his latest book, "Infinite Wonder: An Astronaut's Photographs from a Year in Space."
The internet can be a toxic place ー but it doesn't have to be, according to Deepak Chopra. The bestselling author and new age advocate is helping to build a healthier internet through a new Amazon Alexa skill that delivers his daily "intentions." The skill is a result of a partnership with A.I.-provider LivePerson's innovation lab, LivePerson Studios.
Credible.com is revamping how people refinance their mortgages ー in the time it takes to download an app. The platform has launched what it calls a modern mortgage marketplace, providing users with real-time rates from multiple lenders. Stephen Dash, founder and CEO of Credible.com, said it was time to rebuild the mortgage shopping and application process.
Shankar Chandran, managing director of Samsung Catalyst Fund, told Cheddar at the Web Summit that Samsung is always looking for the next "trillion-dollar opportunity." The gold rush in Silicon Valley is all about data and A.I. now, he said.
Photo-editing app VSCO has already hit 2 million paid subscribers after crossing the 1 million subscribers threshold just in the first quarter of 2018. “It’s really a testament to how consumer-driven we are,” VSCO CEO Joel Flory told Cheddar. VSCO charges $20 per year for its subscription, and the business is now operating at break-even, Flory said.
Disney unveiled the name of its streaming service, Disney +, and some we're less than impressed. Rich Greenfield, analyst at BTIG, said that may be just fine for Disney.
These are the headlines you Need 2 Know.
Disney announced earnings for its latest quarter on Thursday, posting better than expected earnings and revenue as the company gets ready to launch its own streaming service to compete with Netflix and Amazon. Disney is also focused on closing its acquisition of 21st Century Fox.
OkCupid is getting political. The popular dating app is finding that millennials are prioritizing politics more than ever when looking for a partner in love. Melissa Hobley, CMO of OkCupid, said the app has been asking its users more questions about their political views and using that information to improve their matches.
