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Questions About The Safety Of Tesla’s ‘Full Self-Driving’ System Are Growing In 2024

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3 months ago

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Tesla

DETROIT — Three times in the last four months, William Stein, a technology analyst with Truist Securities, has accepted Elon Musk’s invitation to test the latest versions of Tesla’s lauded “Full Self-Driving” system.

According to the business, a Tesla equipped with the technology may go from one location to another with minimum human assistance. However, when Stein drove one of the cars, he claimed that the vehicle engaged in risky or illegal manoeuvres. Stein stated that his 16-year-old son, who accompanied him on the test drive earlier this month, was “terrified.”

Federal inspectors are investigating Stein’s experiences, as well as a Tesla crash in the Seattle region employing Full Self-Driving that killed a biker in April. They had previously been looking at Tesla’s automated driving technologies for almost two years, following scores of collisions that prompted safety concerns.

Questions About The Safety Of Tesla’s ‘Full Self-Driving’ System Are Growing

The issues have made many who monitor autonomous vehicles more skeptical that Tesla’s automatic system would ever be able to operate securely on a large scale. Stein believes Tesla is still waiting to launch a fleet of self-driving cars by next year, as Musk has predicted.

The newest mishaps occur at a critical juncture for Tesla. Musk has informed investors that Full Self-Driving may be able to operate more safely than human drivers by the end of this year, if not next.

In less than two months, the business plans to showcase a car designed specifically to be a robotaxi. Musk has stated that in order to deploy robot axis on the road, Tesla will have to demonstrate to regulators that the system can drive more safely than people. Under federal regulations, Teslas must meet national vehicle safety standards.

Musk has disclosed data on miles driven per crash, but only for Tesla’s less advanced Autopilot technology. According to safety experts, the data must be corrected since it only records catastrophic collisions involving airbag deployment and does not reveal how frequently human drivers had to take control to escape a collision.

Approximately 500,000 Tesla owners employ Full Self-Driving on public roads, accounting for slightly more than one in every five Teslas now in service. Most of them paid at least $8,000 for the optional system.

The business has stressed that automobiles outfitted with the system cannot drive autonomously and that drivers must always be prepared to intervene if necessary. Tesla also claims to watch each driver’s behavior and will suspend their ability to use Full Self-Driving if they do not properly supervise the system. Recently, the business began referring to the technology as “Full Self-Driving” (Supervised).

Musk, who has admitted that his previous estimates for the deployment of autonomous driving were overly optimistic, predicted a fleet of autonomous vehicles by the end of 2020. Five years later, many who follow the technology doubt it will function across the United States as promised.

Michael Brooks, executive director of the Centre for Auto Safety, stated, “It’s not even close, and it won’t be next year.”

Stein drove a Tesla Model 3, purchased at a Tesla dealership in Westchester County, north of New York City. Tesla’s lowest-priced vehicle was outfitted with the most recent Full Self-Driving software. According to Musk, the program now incorporates artificial intelligence to assist with steering and pedal control.

During his journey, Stein noted that the Tesla seemed smoother and more human-like than previous versions. However, in less than ten miles, he claimed the automobile made a left turn from a through lane while running a red light.

“That was stunning,” Stein said.

He explained that he did not take control of the automobile because there was little traffic, and the maneuver did not appear unsafe then. Later, the car drove along the middle of a parkway, straddling two lanes of traffic moving in the same direction. This time, Stein explained, he intervened.

Stein wrote to investors that the latest version of Full Self-Driving does not “solve autonomy” as Musk had expected. It does not “appear to approach robotaxi capabilities.” Stein reported that Tesla vehicles surprised him with dangerous maneuvers after two previous test drives in April and July.

Tesla has not replied to requests for comment.

Stein stated that, while he believes Tesla will eventually profit from its driving technology, he does not anticipate a robotaxi with no driver and a passenger in the back seat shortly. He projected that it would be considerably delayed or have restricted travel options.

According to Stein, there is frequently a considerable difference between what Musk says and what is likely to happen.

To be true, many Tesla devotees have shared videos on social media of their cars driving autonomously without human intervention. Videos, of course, do not demonstrate how the system functions over time. Others have shared recordings that depict harmful behavior.

Alain Kornhauser, head of autonomous vehicle studies at Princeton University, said he drove a Tesla borrowed from a friend for two weeks and discovered that it constantly recognized pedestrians and detected other drivers.

While it often performs well, Kornhauser said he had to take control when the Tesla made actions that terrified him. He advises that Full Self-Driving has yet availableto be alone in all locations.

“This thing,” he told me, “is not at a point where it can go anywhere.”

Kornhauser believes the system may operate independently in smaller portions of a city with precise maps to direct the vehicles. He asks why Musk doesn’t start by providing rides on a limited scale.

“People could really use the mobility that this could provide,” according to him.

For years, experts have cautioned that Tesla’s camera and computer system cannot always detect and identify objects. Cameras cannot always see in bad weather or darkness. Most other self-driving car firms, including Alphabet Inc.’s Waymo and General Motors’ Cruise, use a combination of cameras, radar, and laser sensors.

“If you can’t see the world correctly, you can’t plan, move, or react to it correctly,” said Missy Cummings, a professor of engineering and computing at George Mason University. “Cars can’t do it with vision alone,” she explained.

Cummings claims that even those with laser and radar cannot always drive successfully, raising safety concerns about Waymo and Cruise. (Waymo and Cruise declined to comment.)

Phil Koopman, a Carnegie Mellon University professor who researches autonomous vehicle safety, believes it will be many years before autonomous vehicles based only on artificial intelligence can handle all real-world scenarios.

“Machine learning has no common sense and learns narrowly from a huge number of examples,” according to Koopman. “If the computer driver gets into a situation it has not been taught about, it is prone to crashing.”

A motorcyclist was hit and killed by a Tesla employing Full Self-Driving in Snohomish County, Washington, near Seattle, in April, according to officials. The Tesla driver, who has yet to be charged, informed police that he was utilising Full Self-Driving while looking at his phone when the car rear-ended the motorcycle. Authorities said that the motorcyclist was pronounced deceased at the spot.

Questions About The Safety Of Tesla’s ‘Full Self-Driving’ System Are Growing

The agency stated that it is reviewing information obtained from Tesla and law enforcement officials on the fatal crash. It also acknowledges Stein’s experience with full self-driving.

The NHTSA also stated that it is investigating whether a Tesla recall earlier this year, which was intended to improve its automated vehicle driver monitoring system, was successful. It also urged Tesla to recall Full Self-Driving in 2023 because, in “certain rare circumstances,” the agency stated, it may violate some traffic laws, increasing the risk of a crash. (The agency declined to say whether it had completed its evaluation of whether the recall accomplished its mission.)

As Tesla electric vehicle sales have declined in recent months despite price cuts, Musk has urged investors to view the company as a robotics and artificial intelligence business rather than a car company. However, Tesla has been working on full self-driving vehicles since at least 2015.

“I recommend that anyone who doesn’t believe Tesla will solve vehicle autonomy should not hold Tesla stock,” he stated during an earnings conference call last month.

Stein advised investors, however, to evaluate whether Full Self-Driving, Tesla’s artificial intelligence initiative “with the most history, that’s generating current revenue, and is already being used in the real world,” works.

SOURCE | AP

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Trudeau Accelerates Bond Selloff Over Mass Spending Fears

Published

2 days ago

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2024-11-23

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Trudeau, Bond Market
Trudeau accelerated a bond selloff due to expectations of faster growth and a deeper deficit

Prime Minister Justin Trudeau has accelerated bond selloffs, citing fears of a larger deficit over his GST giveaway. Investors were concerned he was returning to his free-spending strategy as an election loom.

On Thursday, Trudeau unveiled a C$6.3 billion ($4.5 billion) tax relief and rebate program. It includes a two-month moratorium on federal sales tax on various commodities such as Christmas trees, wine, toys, and books and a C$250 check for almost 19 million Canadians, or over half of the population.

The declaration looked to mark the end of a brief period of fiscal restraint, as Finance Minister Chrystia Freeland committed to contain budget deficits to prevent stoking inflationary pressures.

Now that inflation has returned to the Bank of Canada’s 2% target, policymakers have reduced the benchmark interest rate by 125 basis points since June.

Trudeau’s Liberal government sees an opportunity to dig deeper into the public purse, but some analysts believe investors are keeping a careful eye on the country’s debt.

Bonds continued to fall on Thursday following the announcement, as the 10-year benchmark yield rose 7 basis points to 3.457%. After retail data showed a rise in consumer spending on Friday, it increased by up to 3.488%.

As the Trudeau government considers additional fiscal spending, concerns about Canada’s financial situation persist.

Budget Shortfall

Freeland has yet to publish final spending and income figures for the fiscal year that ended in October. Parliamentary Budget Officer Yves Giroux predicts a deficit of C$46.8 billion, much exceeding Freeland’s self-imposed aim of a C$40 billion shortfall.

Despite promises to reduce deficits, the Trudeau government continues to increase expenditure. This year’s budget includes a new capital gains tax inclusion rate to balance the cost of new housing and social initiatives.

This sparked anger from investors and entrepreneurs but allowed Freeland to present a consistent deficit despite significant spending.

The recent declaration indicates that Trudeau’s government no longer feels restrained in its capacity to use economic stimulus to restore favor.

Pierre Poilievre’s Conservatives have led most surveys by roughly 20 points for over a year. They have pounded the prime minister on affordability and promised to reduce taxes, especially income taxes. An election is expected in late October 2025.

The sales tax break will run from December 14 to February 15. The left-wing New Democratic Party intends to support it but has stated that it will continue to advocate for its permanent implementation and expansion to include additional items.

Let the Bankers Worry

Following Trudeau’s announcement, traders in overnight swap markets reduced their bets that the Bank of Canada will drop interest rates by 50 basis points for the second time in December, lowering the odds to fewer than 25% by the end of Thursday. As of late Friday morning, the odds were less than 17%.

The announcement also encouraged several experts to improve their short-term projections for Canada’s GDP. Analysts at the Bank of Montreal predict that the country’s GDP will increase at a 2.5% annualized rate in the first three months of 2025, up from 1.7%.

Speaking to reporters on Friday, Trudeau praised his government’s approach to program expenditure, claiming it fosters optimism and possibilities for families and the middle class.

“We’re focusing on Canadians. “Let the bankers worry about the economy,” Trudeau stated.

Related:

Canada’s Budgetary Watchdog Warns Over Trudeau’s Spending

Canada’s Budgetary Watchdog Warns Over Trudeau’s Spending

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Forced Sale Google Chrome Could Fetch $20 Billion

Published

3 days ago

on

2024-11-21

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Sale Google Chrome

Antitrust officials in the US could force the sale of Google’s Chrome browser for up to $20 billion, demonstrating the tremendous worth of the world’s most popular web browser.

Bloomberg Intelligence attributes Chrome’s projected worth to its more than 3 billion monthly active users. The US Department of Justice is preparing to request a federal judge order the browser’s separation from Google’s parent company, Alphabet.

Chrome’s worth comes from its overwhelming 61% market share and its crucial role in Google’s advertising ecosystem. User data enables businesses to better target adverts, and the browser also acts as an important distribution mechanism for Google’s AI technologies.

Industry analysts think it may be difficult to find a suitable buyer. While tech behemoths like Amazon could finance the purchase, they would likely face regulatory scrutiny.

AI businesses, such as OpenAI, may emerge as more viable contenders. They could potentially leverage Chrome to broaden their reach and develop an advertising business.

“It’s not directly monetizable,” one analyst told Bloomberg. “It functions as a gateway to other things. It’s unclear how you would assess that in terms of pure revenue generation.”

Google opposes prospective sales, claiming that they will hamper innovation. The firm does not break out Chrome’s revenue individually in its financial filings, even though the browser’s user data plays an important part in the company’s principal revenue stream, advertising.

The DOJ’s suggestion follows Judge Amit Mehta’s August decision that Google had illegally monopolized the search industry. The judge will consider the recommended remedies at a two-week hearing in April 2024, with a final judgment due in August 2025.

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Bitcoin Has Set a New Record And Is Approaching $100,000.

Published

3 days ago

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2024-11-21

By

Bitcoin

(VOR News) – Bitcoin broke beyond the $98,000 mark for the first time on Thursday as investors awaited Donald Trump’s second term as president. All of this happened during the day. As such, cryptocurrency has reached a significant turning point.

According to Coin Metrics, the top cryptocurrency was trading at $97,541.61 during the most recent trading session. Merchants provided this information. This suggests a price gain of more than three percent during the previous trading session.

When the period began, Bitcoin peaked at $98,367.00.

During the premarket trading session, MicroStrategy, a platform that facilitates cryptocurrency foreign exchange trading and serves as a bitcoin proxy, saw a 13% gain. Coinbase, on the other hand, had a 2% rise during that period. Furthermore, all of these increases occurred simultaneously.

The market value of Mara Holdings increased by 9%, which helped raise the valuation of mining companies overall. This was among the factors that led to the total rise.

Because of the widespread belief that President Trump will usher in a new era of prosperity for cryptocurrencies, one marked by more favorable laws and the possible creation of a national strategic bitcoin reserve, the price of Bitcoin has been rising steadily this month.

The most recent change brought about by the increase was the consequence of higher financing rates and more open interest in the futures market during Asian trading hours. The rise was the catalyst for this change. This action was prompted by the ensuing rush.

Throughout its lifespan, this legislation was the catalyst for this change for a variety of reasons. At the same time, spot market premiums decreased, according to CryptoQuant statistics. All of this happened at the same time.

Furthermore, a number of short liquidations have been sparked by the recent spikes in Bitcoin’s price, which has caused the price to rise overnight. As a result, the price has gone up much more. As a result, the total number of short liquidations has increased.

According to CoinGlass, these liquidations have effectively produced more than $88 million in capital during the last 24 hours.

Rob Ginsberg, an analyst at Wolfe Research, noted in a study released on Wednesday that “historically, following previous movements of this magnitude, Bitcoin has either entered a consolidation phase or disregarded the overbought condition as investors accumulate.” This phrase relates to the fact that this particular move has happened before.

Ginsberg stated this in reference to the evolution of Bitcoin over time.

Ginsberg’s answer makes reference to Bitcoin’s propensity to go through a period of consolidation. The comment also made reference to this.

He said, “Considering we are emerging from an extended consolidation phase and the price has reached a new high, it suggests that the pursuit is underway.”

The crucial psychological milestone of $100,000 is expected to be reached in the upcoming weeks, and this breakthrough could happen as early as Thursday. It seems likely that this level will be reached. There is a chance that this new development will take place.

This task will be carried out against the backdrop of this historical era. In addition, if Trump were to win a second term, federal budget deficits would increase, inflation would likely increase, and the dollar’s position in international affairs would change.

The administration that Trump would run during his presidency would be responsible for these consequences. All of these characteristics would positively impact the value of Bitcoin as a currency if they were taken into account in the order that they are presented.

The price of bitcoin had risen by more than 130% by the beginning of 2024.

SOUREC: CNBC

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