Seven Dreamers has created a robot that folds your clothes for you. The Laundroid can help eliminate the annoying process of folding from your life, but it comes at a steep price.
Shin Sakane is the CEO of Seven Dreamers. He joins Cheddar to explain how Laundroid is working to make consumers lives easier. Laundroid has been in the works for 12 years. The robot costs $16,000 and takes it takes 4 to 6 hours to fold around 30 pieces of clothes.
Sakane says the product should be launched by the end of the year.
The U.S. death toll from the coronavirus climbed to 11 on Wednesday with a victim succumbing in California — the nation's first reported fatality outside Washington state — as officials, schools and businesses came under pressure to respond more aggressively to the outbreak.
The company known for home thermostats said it will release "the most powerful quantum computer yet" within the next three months.
These are the headlines you Need 2 Know for Wednesday, March 4, 2020.
The Dow Jones Industrial Average dropped 785 points and bond prices surged after an emergency interest-rate cut by the Federal Reserve failed to reassure markets racked by worries that a fast-spreading virus outbreak could lead to a recession.
HotelPlanner CEO Tim Hentschel told Cheddar that the travel industry is taking the worst hit it has seen in nearly two decades thanks to the coronavirus outbreak paralyzing multiple countries.
Stocks are whipping up and down after the Federal Reserve swooped into the market with an emergency rate cut in hopes of shielding the economy from the effects of the fast-spreading virus. Tuesday's surprise move gave stocks a strong, brief boost, but it took just 15 minutes for the gains to evaporate.
Chairman Jerome Powell said at a news conference that the virus “will surely weigh on economic activity both here and abroad for some time.” It was the Fed's first rate cut since last year, when it reduced its key short-term rate three times.
The Federal Reserve will cut interest rates by a half-percentage point in its first emergency rate cut since the Great Recession in response to the spreading coronavirus.
These are the headlines you Need 2 Know for Tuesday, March 3, 2020.
These are the headlines you Need 2 Know for Monday, March 2, 2020.
