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NEXT BLOCK ASIA 2.0 introduces GURUS AWARDS to recognize and reward industry influencers The Cavaliers scored 43 points in the first quarter, but then went almost 6½ minutes without scoring in the fourth. They played the second half without coach Tyronn Lue, who went to the locker room in the second quarter with what the team said was an illness.“It’s like right now, when we hit adversity, we go our separate ways,” guard Isaiah Thomas said. “And that’s just how I feel and it looks like that as well.”The Magic made their first 10 shots of the second half and won consecutive games for the first time since Nov. 8-10.James did not have a rebound or an assist in a foul-plagued second half.“I gave my teammates some opportunities to knock ’em down, but they just didn’t go. You can’t get assists when they don’t go down, but that doesn’t stop me from finding my guys on the floor,” he said. “At this point it’s not what you say, it’s what you do. We’ve got to go out and play well as a collective group, everyone hitting at the right time on all cylinders, and right now we’re not doing that.”ADVERTISEMENT John Lloyd Cruz a dashing guest at Vhong Navarro’s wedding Ingram, Randle lead Lakers over Suns Globe Business launches leading cloud-enabled and hardware-agnostic conferencing platform in PH Read Next The Cavaliers fell apart in the second half and lost for the 14th time in 21 games. They have given up an average of 122.4 points in their last five losses.“I couldn’t give up on my teammates like that. I just couldn’t do it,” James said after scoring 25 points. “We put too much into the game every single day.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSLillard, Anthony lead Blazers over ThunderSPORTSMalditas save PH from shutout“This is no time to be ashamed about our season,” he added. “We’ve got quite a few games left. If we’re still serious about the season, then we’ve got to play some good ball at some point.”Jonathon Simmons scored 22 of his career-high 34 points in the third quarter for the Magic, who broke a nine-game home-court losing streak against Cleveland. Simmons made seven of eight shots in his 22-point quarter, finishing the period with a 3-point buzzer shot in a game in which he almost did not play because of a sprained right ankle.“To be honest, adrenaline was just going and I didn’t even realize what was going on,” Simmons said. “I was just trying to play hard and trying not to have another setback.”J.R. Smith made three 3-pointers in the first four minutes to help the Cavaliers (30-22) take a 15-4 lead, and they led by 21 points late in the first half.Jeff Green dunked to put the Cavaliers up 61-40 with 4:50 left in the half, but they went scoreless for almost four minutes while the Magic (17-36) sliced nine points off the lead.James opened the second half with a couple of 3-pointers to regain a 16-point lead for Cleveland, but Simmons scored 12 points during the Magic’s 19-2 run that gave them their first lead of the game at 78-77 with 5:33 left in the third quarter.James was called for his fourth foul just 17 seconds later and sat for more than seven minutes.When he re-entered the game with 10:10 remaining in the fourth quarter, the Magic ran off 14 straight points to lead 108-92.Dwyane Wade banked in a 3-pointer for Cleveland’s only points in the first 7:25 of the fourth quarter.TIP-INSCavaliers: Wade missed the morning shootaround with an illness but played 22 minutes.Magic: Simmons’ 22-point quarter was three points short of the franchise record set by Tracy McGrady in 2003. … F Aaron Gordon missed a fifth straight game with a strained left hip flexor and has withdrawn from the Slam Dunk Contest at NBA All-Star Weekend.UP NEXT Cavaliers: Host Minnesota on Wednesday.Magic: Host Atlanta on Thursday. MOST READ Trending Articles PLAY LIST 00:50Trending Articles00:59Sports venues to be ready in time for SEA Games01:27Filipino athletes get grand send-off ahead of SEA Games01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City LATEST STORIES Brace for potentially devastating typhoon approaching PH – NDRRMC Slow and steady hope for near-extinct Bangladesh tortoises Cleveland Cavaliers forward LeBron James, rear, and center Tristan Thompson defend against Orlando Magic forward Jonathon Simmons during the second half of an NBA basketball game Tuesday, Feb. 6, 2018, in Orlando, Fla. The Magic won 116-98. (AP Photo/Phelan M. Ebenhack)ORLANDO, Fla. — After another embarrassing defeat and two days before the trade deadline, LeBron James let it be known he’s not going anywhere, at least for now.“I’m here for this season right now to try and figure out a way we can still compete,” James said after his Cleveland Cavaliers blew a 21-point lead in a 116-98 loss to the Orlando Magic. “I owe it to my teammates to finish this season out no matter how it ends up. I would never waive my no-trade clause.”ADVERTISEMENT Typhoon Kammuri accelerates, gains strength en route to PH Don’t miss out on the latest news and information. AFP official booed out of forum 2 ‘newbie’ drug pushers fall in Lucena sting View comments
S.K. Wankhede (left) and N.K.P. Salve: Power struggleOf all the sports organisations in this country, the Board of Control for Cricket in India (BCCI) is possibly the richest. Last fortnight, however, the riches had created a problem: the simple matter of a cheque for Rs 35 lakh – the proceeds,S.K. Wankhede (left) and N.K.P. Salve: Power struggleOf all the sports organisations in this country, the Board of Control for Cricket in India (BCCI) is possibly the richest. Last fortnight, however, the riches had created a problem: the simple matter of a cheque for Rs 35 lakh – the proceeds of the Delhi Test between India and the MCC last year – which should have gone to the BCCI account in Madras, but instead went into a fresh fixed deposit account in Bombay.Over half-a-dozen of the 28 BCCI members asked for details of the cheque’s curious progress. Jagmohan Dalmiya, honorary secretary of the Bengal Cricket Association, wrote to M.A. Chidambaram, BCCI treasurer, asking if any board official or working committee member had approved the opening of the account for such a huge amount – according to BCCI rules no new bank account can be opened without the board’s approval.The Delhi Test was handled by a special committee appointed by the BCCI, because the Delhi and District Cricket Association (DDCA) had been superseded. BCCI President S.K. Wankhede headed the committee, I.S. Bindra, president of the Punjab Cricket Association was convenor and P.M. Rungta of Rajasthan was treasurer. As there was no permanent body in Delhi to look after the record profit of Rs 35 lakh, it was resolved that the money would be transferred to the BCCI’S account in Madras. According to Bindra, he along with Rungta wrote a cheque for Rs 35 lakh on February 5, 1982 in favour of the BCCI.advertisementBut instead of handing the cheque to Chidambaram, Rungta inexplicably withdrew the money from the Tolstoy Marg branch of the New Bank of India and converted it into a demand draft – No 434072/78/82 dated February 6, 1982 – drawn on the bank’s Bombay branch – Bindra was not in on this. In a letter to the bank, Rungta wrote: “Please issue a demand draft in the name of Board of Control for Cricket in India payable at Bombay.” On the same day, as it happened, an account was opened in the Banque Nationale de Paris and a fixed deposit of Rs 35 lakh for one year was made in the name of the BCCI. Chidambaram received a fixed deposit receipt from Rungta, instead of a cheque.Disputed Matters: The matter was first raised at the working committee meeting on April 1, 1982. Some pointed questions remained unanswered: why Rungta converted the cheque into a draft on his own; why a foreign bank was preferred, especially when the rate of interest – 7.5 per cent – is the same as that of Indian banks; who endorsed the account papers as only the BCCI president and/or treasurer can operate an account and that too after a BCCI resolution; and how the bank opened an account in the name of an organisation without asking for the resolution and the memorandum of association.The group that has talked the most about Rungta’s initiative is the “anti-Bombay group’, and consists mostly of senior government officials like Bindra, Phalgum Matilal, a joint director in the Railway Ministry, Kamlesh Sharma, a joint secretary in the Union Home Ministry and S.K. Kakkar, a senior Chandigarh administration official.They are powerfully backed by Minister of State for Information N.K.P. Salve, Jammu & Kashmir Chief Minister Farooq Abdullah and Kamal Nath, the powerful MP who dislodged K.K. Mehra and his friends from the DDCA. Kakkar says that “there is ample scope for smelling a rat” and feels that the bank “might have used the cash for sanctioning loans to various firms” in the wake of the credit squeeze.In the August 16-17 meeting of the BCCI in Bombay, this group demanded that the Central Bureau of Investigation investigate the matter and that the account be closed. But Rungta was not present and a decision was postponed. For his part, Rungta refutes the allegation that there was anything wrong in opening the account.Said he: “Bindra signed a cheque and gave it to me to be handed over to the treasurer of the board. It is also correct that I handed over the demand draft receipt to Chidambaram.” He also claimed that the new account was opened in consultation with the treasurer and the president. But both Chidambaram and Wankhede, when asked in the board meeting, did not accept that they knew about it earlier.Financial Problems: ‘Irregularities’ in financial procedures have occurred earlier. Dalmiya had pointed out 54 errors in the audited accounts for 1980-81. The general body meeting in Bangalore on September 28, 1981, took note of his objections which included: glaring discrepancies in the cash and bank balances in accounts presented by the treasurer to the BCCI working committee on August 3, 1980 and figures given out at the Bangalore meeting; Rs 26 lakh expenditure on the Golden Jubilee Test between India and England at Bombay when only Rs 11 lakh was approved; unexplained expenditure of Rs 2 lakh in foreign exchange in England during the 1979 tour; and investment of nearly Rs 1 crore in various private companies by the BCCI investment committee without the approval of the BCCI board or working committee.advertisementThis last provoked quite a furore at two meetings of the board. According to the statement of accounts for 1980-81, the private companies so favoured are Tata Oil Mills (Rs 10 lakh), Mahindra and Mahindra (Rs 25 lakh), Bayer India Ltd (Rs 15 lakh), Standard Oil Mills (Rs 15 lakh) and ITC Ltd (Rs 25 lakh). The money came from nationalised banks by prematurely cancelling fixed deposits, and board officials accepted that the board or the working committee did not authorise the withdrawal and that the terms and the conditions were not disclosed earlier. Wankhede and others claimed, however, that no BCCI office-bearer was connected with any of the companies. Only after Dalmiya persisted was an eight-member inquiry committee, headed by Wankhede, appointed to look into these allegations: the final report is still to come even after a year.Things are likely to come to a head on September 26, 1982, at the elections for the office-bearers. The ‘anti-Bombay group’ led by Bindra is determined to oust Wankhede and his men and they seem to have numbers on their side: at a recent meeting of their group 16 of the BCCI’s 28 members were present.They have reportedly decided to field Salve for the president’s post. Says Matilal: “Ours is a democratic fight. We don’t want politics and money to spoil Indian cricket; we want to cleanse the BCCI of unscrupulous elements.” A pitched battle is clearly in the offing.
zoomImage Courtesy: Danny Cornelissen/Nautilus International India has signed an agreement with the Republic of Korea to open up employment opportunities for Indian seafarers on Korean ships.Under the Memorandum of Understanding, the countries said they would mutually recognize the certificates of maritime education and training, competency, endorsements and medical fitness of seafarers issued by each other.The agreement was signed by Shri Nitin Gadkari, Ministry of Shipping, Road Transport & Highways and Water Resources, River Development & Ganga Rejuvenation and his Korean counterpart Kim Young-choon in Busan on April 10.India and Korea are currently looking to strengthen their bilateral cooperation in shipping, ports, inland waterways, and other.
Advertisement Advertisement LEAVE A REPLY Cancel replyLog in to leave a comment The CEO of Netflix has offered insight into how the online streaming service arrives at the suggestions it makes to users about what shows and movies to watch.During a question-and-answer session Saturday morning at the TED conference, Reed Hastings, the co-founder, chairman and CEO of Netflix, talked about running the multi-billion dollar company.Sitting onstage with lead TED curator Chris Anderson, Hastings provided this description of Netflix’s programming strategy: Twitter Facebook Login/Register With: “We have some candy,” Hastings said. “But we have lots of broccoli, and if you have a good mix you get to a healthy diet.” Advertisement Netflix has been investing heavily in its own programming, like The Crown.
6/2/85Celtics@Lakers3NBA Finals-254.3 5/30/14Pacers@Heat6East final-255.6 5/22/00Lakersvs.Blazers2West final-290.1✓ 25+ point blowouts of conference No. 1 seeds in the NBA playoffs, 1984-2016 6/2/95Magic@Pacers6East final-272.2✓ 5/27/01Spurs@Lakers4West final-292.5 5/3/07Mavericks@Warriors6West Rd. 1-252.2 5/27/85Lakers@Celtics1NBA Finals-340.3✓ 5/26/15Hawks@Cavaliers4East final-302.8 5/25/01Spurs@Lakers3West final-390.2 In the NBA playoffs, No. 1 seeds have a special air of authority about them. Since the league expanded to a 16-team playoff format in 1984, top-seeded teams have won their conference about 55 percent of the time; unlike in sports that feature heavy randomness, it’s a surprise when the best team doesn’t win out in the NBA.But that doesn’t mean top seeds are invincible, as the Golden State Warriors found out Sunday night in Oklahoma when they lost 133-105. With the series tied 1-1, the Warriors were facing the most crucial game of their season — and the Oklahoma City Thunder absolutely shellacked them. Going back again to ’84, it tied for the 14th-worst defeat of a conference No. 1 seed in the playoffs: 6/7/98Jazz@Bulls3NBA Finals-420.1% 5/11/10Cavaliersvs.Celtics5East Rd. 2-32<0.1 6/16/00Lakers@Pacers5NBA Finals-330.3✓ 6/3/84Celtics@Lakers3NBA Finals-330.4✓ 6/14/88Lakers@Pistons4NBA Finals-253.5✓ 6/11/13Heat@Spurs3NBA Finals-360.2✓ Half of those 14 losses came in the NBA Finals, and six featured a No. 1 seed from one conference crushing its counterpart from the the other — not exactly comparable to Dubs-Thunder. So if you toss those out, Golden State’s loss is tied for the seventh-most-lopsided defeat by a No. 1 in the past 33 postseasons of conference play. (It’s also tied for ninth-worst among playoff losses by No. 1 overall seeds during that span.)The Thunder are a high-quality basketball team, perhaps far better than they appeared to be at various points during the regular season. But the degree to which they dominated the Warriors in Game 3 was stunning. According to the pregame Elo ratings (our pet metric for estimating each team’s strength at a given moment), there was a mere 1.1 percent probability that OKC would run up a victory margin of 28 or more points Sunday.1Based on a process similar to the NFL version I used here. We’ve hardly ever seen this incarnation of the Warriors destroyed so thoroughly, and never in a game that meant so much.Putting aside why it happened — yes, the Warriors had one of their worst (unluckiest?) shot-making nights of the season, but they also played some of their most porous defense of the year and looked out of sorts for long stretches of the game — Golden State’s Game 3 drubbing has left the team in trouble. Both opponents being equal, the team that wins at home in a 1-1 series goes on to win the series more than 69 percent of the time. And although we wouldn’t have considered the Warriors and Thunder to be equals before the West final tipped off, OKC has closed the gap considerably since then. (Plus, Draymond Green is at risk of being suspended for Game 4 after kicking Steven Adams in the crotch for the second time this series.) Now, our model considers the Thunder 64 percent favorites to make the NBA Finals.Plenty of historical teams who suffered similarly huge routs bounced back and won the series anyway, so all is not lost in Oakland. But the Warriors will have to regroup after a Game 3 performance that put them in an exclusive, unenviable club of vulnerable No. 1 seeds.Check out our latest NBA predictions. 5/24/87Celtics@Pistons4East final-262.2✓ 5/22/16Warriors@Thunder3West final-281.1— DATETEAMOPPONENTGAMEROUNDMARGINELO PROB.WON SERIES 5/19/88Lakers@Jazz6West Rd. 2-281.2✓ Source: Basketball-Reference.com 6/17/08Lakers@Celtics6NBA Finals-390.1 6/4/05Heat@Pistons6East final-252.3 5/21/92Bullsvs.Cavaliers2East final-260.2✓ 5/30/96Sonics@Jazz6West final-350.3✓ 6/3/92Blazers@Bulls1NBA Finals-330.8
When the Buckeyes step into Gentile Arena in Chicago on Saturday and senior outside hitter Mik Berzins looks at the opposing team’s bench, he will see two people he knows quite well. “I’ve grown accustomed to playing my brothers over at Loyola,” he said. “It’s a good rivalry.” Berzins’ brothers, Kris and Dainis, have made the family name synonymous with volleyball at Loyola University Chicago, just as their father paved the way for Mik at Ohio State. The tradition begins with OSU Hall of Famer, Aldis Berzins. The Olympic gold medalist and former outside hitter led the Buckeyes to four Midwestern Intercollegiate Volleyball Association championships and four NCAA Final Four appearances between 1975 and 1978. Like father, like sons. Kris, Mik and Dainis have played at the outside hitter position and have made strides within their respective programs. Even the youngest Berzins, sophomore Dainis, started in 21 sets last year and tallied 113 kills, according to Loyola’s athletic website. “We all really support each other and want to have the other one do well,” Mik said. “I’m not going to cheer whenever Dainis gets a kill, but I wish him the best.” Former all-American Kris Berzins amassed more than 1,000 kills and 500 digs in his career with the Ramblers, one of only seven players in school history to do so. After a year on the professional circuit in Austria, Kris returned to Chicago as an assistant coach for the 2012 season. Ramblers’ coach Shane Davis said he tried to recruit Mik, too. “I thought we had him,” Davis said. “He took another look at Ohio State unfortunately, but we definitely wanted him.” Mik said he chose OSU over Loyola because he could see himself succeeding in the versatile program. “I came in as a libero, and I got the opportunity this year, and a little bit last year, to play some outside hitter,” he said. “Ohio State was the best place for me to go.” Mik has helped propel the Buckeyes to an 11-4 record with 120 kills, 10 service aces and a 0.928 serve percentage so far this season. He also has the most career digs in school history with 787. OSU’s coach Pete Hanson describes Mik as a passer, defender and server, but not one to be distracted by the family feud that awaits him this weekend. “Mik does a great job for us,” Hanson said. “He’ll be in a good frame of mind in terms of Ohio State volleyball.” The Buckeyes are 28-13 on the series against conference rival Loyola, and are on a five-match winning streak. The No. 14-ranked Ramblers have fared better at home, however, with a 9-7 record against OSU there. Davis, who shared the MIVA Coach of the Year award with Hanson in 2010, said that he is most looking forward to “all the hype” surrounding the match. “The two teams, we have a lot of history together,” he said. The trio from Brinklow, Md., will reunite Saturday after OSU makes a stop in Romeoville, Ill., to face No. 7-ranked Lewis on Thursday. Both matches are set to begin at 7 p.m.
Senior guard Aaron Craft (4) caries the ball down the court in a game against Dayton. OSU lost, 60-59, at First Niagara Center March 20.Credit: Ritika Shah / Asst. photo editorThe Ohio State men’s basketball team has bolstered its strength of schedule for the upcoming season with the addition of a former national champion.OSU spokesman Dan Wallenberg confirmed Thursday the Buckeyes are scheduled to take on the Louisville Cardinals Dec. 2 at the KFC Yum! Center in Louisville, Ky.The matchup is one of 14 games set to be played as a part of the 16th annual Big Ten/ACC Challenge. The previous two challenges were split by the two conferences.The Cardinals, which won the 2013 NCAA national championship, finished the 2013-14 season 31-6 and 15-3, including a win over the eventual national champion Connecticut in the inaugural American Athletic Conference championship game. Louisville fell to rival Kentucky in the Sweet 16, 74-69.The Buckeyes’ season ended when OSU lost to the Dayton Flyers in the second round of the NCAA tournament, 60-59.OSU is set to enter the 2014-15 season without three of its starters from last season as junior forward LaQuinton Ross declared for the NBA Draft and senior guards Aaron Craft and Lenzelle Smith Jr. are set to graduate. Sophomore guard Amedeo Della Valle also left the program to pursue a professional career in Italy.The Buckeyes are set to welcome a top five recruiting class to Columbus, according to ESPN, as well as bringing in transfer forwards Anthony Lee, a former redshirt-junior from Temple, and Trevor Thompson, a former freshman from Virginia Tech. Lee will be eligible to play immediately for coach Thad Matta, while Thompson is expected to sit out the 2014-15 season per NCAA transfer regulations.
Elon Musk Next Article The SpaceX and Tesla CEO shares his views on the future of transportation. May 3, 2017 Add to Queue Watch and Read the Transcript of Elon Musk’s ‘Boring’ TED Talk Learn how to successfully navigate family business dynamics and build businesses that excel. Free Webinar | July 31: Secrets to Running a Successful Family Business Entrepreneur Staff Register Now » 15+ min read Entrepreneur Staff Elon Musk leads Tesla, SpaceX, Neuralink and now The Boring Company, giving him a guiding hand on the future of transportation and the survival of the humanity. On Friday, April 28, he sat down with TED’s head curator, Chris Anderson, to discuss his new side project — digging tunnels — and his grand ambitions for the next decades. Below is the full transcript of the conversation.Chris Anderson: Elon, hey, welcome back to TED. It’s great to have you here.Elon Musk: Thanks for having me.CA: So, in the next half hour or so, we’re going to spend some time exploring your vision for what an exciting future might look like, which I guess makes the first question a little ironic: Why are you boring?EM: Yeah. I ask myself that frequently. We’re trying to dig a hole under LA, and this is to create the beginning of what will hopefully be a 3D network of tunnels to alleviate congestion. So right now, one of the most soul-destroying things is traffic. It affects people in every part of the world. It takes away so much of your life. It’s horrible. It’s particularly horrible in LA.CA: I think you’ve brought with you the first visualization that’s been shown of this. Can I show this?EM: Yeah, absolutely. So this is the first time — just to show what we’re talking about. So a couple of key things that are important in having a 3D tunnel network. First of all, you have to be able to integrate the entrance and exit of the tunnel seamlessly into the fabric of the city. So by having an elevator, sort of a car skate, that’s on an elevator, you can integrate the entrance and exits to the tunnel network just by using two parking spaces. And then the car gets on a skate. There’s no speed limit here, so we’re designing this to be able to operate at 200 kilometers an hour.CA: How much?EM: 200 kilometers an hour, or about 130 miles per hour. So you should be able to get from, say, Westwood to LAX in six minutes — five, six minutes.CA: So possibly, initially done, it’s like on a sort of toll road-type basis.EM: Yeah.CA: Which, I guess, alleviates some traffic from the surface streets as well.EM: So, I don’t know if people noticed it in the video, but there’s no real limit to how many levels of tunnel you can have. You can go much further deep than you can go up. The deepest mines are much deeper than the tallest buildings are tall, so you can alleviate any arbitrary level of urban congestion with a 3D tunnel network. This is a very important point. So a key rebuttal to the tunnels is that if you add one layer of tunnels, that will simply alleviate congestion, it will get used up, and then you’ll be back where you started, back with congestion. But you can go to any arbitrary number of tunnels, any number of levels.CA: But people — seen traditionally, it’s incredibly expensive to dig, and that would block this idea.EM: Yeah. Well, they’re right. To give you an example, the LA subway extension, which is — I think it’s a two-and-a-half mile extension that was just completed for $2 billion. So it’s roughly a billion dollars a mile to do the subway extension in LA. And this is not the highest utility subway in the world. So yeah, it’s quite difficult to dig tunnels normally. I think we need to have at least a tenfold improvement in the cost per mile of tunneling.CA: And how could you achieve that?EM: Actually, if you just do two things, you can get to approximately an order of magnitude improvement,and I think you can go beyond that. So the first thing to do is to cut the tunnel diameter by a factor of two or more. So a single road lane tunnel according to regulations has to be 26 feet, maybe 28 feet in diameter to allow for crashes and emergency vehicles and sufficient ventilation for combustion engine cars. But if you shrink that diameter to what we’re attempting, which is 12 feet, which is plenty to get an electric skate through, you drop the diameter by a factor of two and the cross-sectional area by a factor of four, and the tunneling cost scales with the cross-sectional area. So that’s roughly a half-order of magnitude improvement right there. Then tunneling machines currently tunnel for half the time, then they stop, and then the rest of the time is putting in reinforcements for the tunnel wall. So if you design the machine instead to do continuous tunneling and reinforcing, that will give you a factor of two improvement. Combine that and that’s a factor of eight. Also these machines are far from being at their power or thermal limits, so you can jack up the power to the machine substantially. I think you can get at least a factor of two, maybe a factor of four or five improvement on top of that. So I think there’s a fairly straightforward series of steps to get somewhere in excess of an order of magnitude improvement in the cost per mile, and our target actually is — we’ve got a pet snail called Gary, this is from Gary the snail from South Park, I mean, sorry, SpongeBob SquarePants. So Gary is capable of — currently he’s capable of going 14 times faster than a tunnel-boring machine.CA: You want to beat Gary.EM: We want to beat Gary. He’s not a patient little fellow, and that will be victory. Victory is beating the snail.CA: But a lot of people imagining, dreaming about future cities, they imagine that actually the solution is flying cars, drones, etc. You go aboveground. Why isn’t that a better solution? You save all that tunneling cost.EM: Right. I’m in favor of flying things. Obviously, I do rockets, so I like things that fly. This is not some inherent bias against flying things, but there is a challenge with flying cars in that they’ll be quite noisy, the wind force generated will be very high. Let’s just say that if something’s flying over your head, a whole bunch of flying cars going all over the place, that is not an anxiety-reducing situation. You don’t think to yourself, “Well, I feel better about today.” You’re thinking, “Did they service their hubcap, or is it going to come off and guillotine me?” Things like that.CA: So you’ve got this vision of future cities with these rich, 3D networks of tunnels underneath. Is there a tie-in here with Hyperloop? Could you apply these tunnels to use for this Hyperloop idea you released a few years ago.EM: Yeah, so we’ve been sort of puttering around with the Hyperloop stuff for a while. We built a Hyperloop test track adjacent to SpaceX, just for a student competition, to encourage innovative ideas in transport. And it actually ends up being the biggest vacuum chamber in the world after the Large Hadron Collider, by volume. So it was quite fun to do that, but it was kind of a hobby thing, and then we think we might — so we’ve built a little pusher car to push the student pods, but we’re going to try seeing how fast we can make the pusher go if it’s not pushing something. So we’re cautiously optimistic we’ll be able to be faster than the world’s fastest bullet train even in a .8-mile stretch.CA: Whoa. Good brakes.EM: Yeah, I mean, it’s — yeah. It’s either going to smash into tiny pieces or go quite fast.CA: But you can picture, then, a Hyperloop in a tunnel running quite long distances.EM: Exactly. And looking at tunneling technology, it turns out that in order to make a tunnel, you have to — in order to seal against the water table, you’ve got to typically design a tunnel wall to be good to about five or six atmospheres. So to go to vacuum is only one atmosphere, or near-vacuum. So actually, it sort of turns out that automatically, if you build a tunnel that is good enough to resist the water table, it is automatically capable of holding vacuum.CA: Huh.EM: So, yeah.CA: And so you could actually picture, what kind of length tunnel is in Elon’s future to running Hyperloop?EM: I think there’s no real length limit. You could dig as much as you want. I think if you were to do something like a D.C.-to-New York Hyperloop, I think you’d probably want to go underground the entire way because it’s a high-density area. You’re going under a lot of buildings and houses, and if you go deep enough, you cannot detect the tunnel. Sometimes people think, well, it’s going to be pretty annoying to have a tunnel dug under my house. Like, if that tunnel is dug more than about three or four tunnel diameters beneath your house, you will not be able to detect it being dug at all. In fact, if you’re able to detect the tunnel being dug, whatever device you are using, you can get a lot of money for that device from the Israeli military, who is trying to detect tunnels from Hamas, and from the U.S. Customs and Border patrol that try and detect drug tunnels. So the reality is that earth is incredibly good at absorbing vibrations, and once the tunnel depth is below a certain level, it is undetectable. Maybe if you have a very sensitive seismic instrument, you might be able to detect it.CA: So you’ve started a new company to do this called The Boring Company. Very nice. Very funny.EM: What’s funny about that?CA: How much of your time is this?EM: It’s maybe … 2 or 3 percent.CA: You’ve bought a hobby. This is what an Elon Musk hobby looks like.EM: I mean, it really is, like — this is basically interns and people doing it part time. We bought some second-hand machinery. It’s kind of puttering along, but it’s making good progress, so –CA: So an even bigger part of your time is being spent on electrifying cars and transport through Tesla. Is one of the motivations for the tunneling project the realization that actually, in a world where cars are electric and where they’re self-driving, there may end up being more cars on the roads on any given hour than there are now?EM: Yeah, exactly. A lot of people think that when you make cars autonomous, they’ll be able to go faster and that will alleviate congestion. And to some degree that will be true, but once you have shared autonomy where it’s much cheaper to go by car and you can go point to point, the affordability of going in a car will be better than that of a bus. Like, it will cost less than a bus ticket. So the amount of driving that will occur will be much greater with shared autonomy, and actually traffic will get far worse.CA: You started Tesla with the goal of persuading the world that electrification was the future of cars, and a few years ago, people were laughing at you. Now, not so much.EM: OK. I don’t know. I don’t know.CA: But isn’t it true that pretty much every auto manufacturer has announced serious electrification plansfor the short- to medium-term future?EM: Yeah. Yeah. I think almost every automaker has some electric vehicle program. They vary in seriousness. Some are very serious about transitioning entirely to electric, and some are just dabbling in it. And some, amazingly, are still pursuing fuel cells, but I think that won’t last much longer.CA: But isn’t there a sense, though, Elon, where you can now just declare victory and say, you know, “We did it.” Let the world electrify, and you go on and focus on other stuff?EM: Yeah. I intend to stay with Tesla as far into the future as I can imagine, and there are a lot of exciting things that we have coming. Obviously the Model 3 is coming soon. We’ll be unveiling the Tesla Semi truck.CA: OK, we’re going to come to this. So Model 3, it’s supposed to be coming in July-ish.EM: Yeah, it’s looking quite good for starting production in July.CA: Wow. One of the things that people are so excited about is the fact that it’s got autopilot. And you put out this video a while back showing what that technology would look like.EM: Yeah. There’s obviously autopilot in Model S right now. What are we seeing here? Yeah, so this is using only cameras and GPS. So there’s no LIDAR or radar being used here. This is just using passive optical, which is essentially what a person uses. The whole road system is meant to be navigated with passive optical, or cameras, and so once you solve cameras or vision, then autonomy is solved. If you don’t solve vision, it’s not solved. So that’s why our focus is so heavily on having a vision neural net that’s very effective for road conditions.CA: Right. Many other people are going the LIDAR route. You want cameras plus radar is most of it.EM: You can absolutely be superhuman with just cameras. Like, you can probably do it ten times better than humans would, just cameras.CA: So the new cars being sold right now have eight cameras in them. They can’t yet do what that showed. When will they be able to?EM: I think we’re still on track for being able to go cross-country from LA to New York by the end of the year, fully autonomous.CA: OK, so by the end of the year, you’re saying, someone’s going to sit in a Tesla without touching the steering wheel, tap in “New York,” off it goes.EM: Yeah.CA: Won’t ever have to touch the wheel — by the end of 2017.EM: Yeah. Essentially, November or December of this year, we should be able to go all the way from a parking lot in California to a parking lot in New York, no controls touched at any point during the entire journey.CA: Amazing. But part of that is possible because you’ve already got a fleet of Teslas driving all these roads. You’re accumulating a huge amount of data of that national road system.EM: Yes, but the thing that will be interesting is that I’m actually fairly confident it will be able to do that route even if you change the route dynamically. So, it’s fairly easy — If you say I’m going to be really good at one specific route, that’s one thing, but it should be able to go, really be very good, certainly once you enter a highway, to go anywhere on the highway system in a given country. So it’s not sort of limited to LA to New York. We could change it and make it Seattle-Florida, that day, in real time. So you were going from LA to New York. Now go from LA to Toronto.CA: So leaving aside regulation for a second, in terms of the technology alone, the time when someone will be able to buy one of your cars and literally just take the hands off the wheel and go to sleep and wake up and find that they’ve arrived, how far away is that, to do that safely?EM: I think that’s about two years. So the real trick of it is not how do you make it work say 99.9 percent of the time, because, like, if a car crashes one in a thousand times, then you’re probably still not going to be comfortable falling asleep. You shouldn’t be, certainly.It’s never going to be perfect. No system is going to be perfect, but if you say it’s perhaps the car is unlikely to crash in a hundred lifetimes, or a thousand lifetimes, then people are like, OK, wow, if I were to live a thousand lives, I would still most likely never experience a crash, then that’s probably OK.CA: To sleep. I guess the big concern of yours is that people may actually get seduced too early to think that this is safe, and that you’ll have some horrible incident happen that puts things back.EM: Well, I think that the autonomy system is likely to at least mitigate the crash, except in rare circumstances. The thing to appreciate about vehicle safety is this is probabilistic. I mean, there’s some chance that any time a human driver gets in a car, that they will have an accident that is their fault. It’s never zero. So really the key threshold for autonomy is how much better does autonomy need to be than a person before you can rely on it?CA: But once you get literally safe hands-off driving, the power to disrupt the whole industry seems massive, because at that point you’ve spoken of people being able to buy a car, drops you off at work and then you let it go and provide a sort of Uber-like service to other people, earn you money, maybe even cover the cost of your lease of that car, so you can kind of get a car for free. Is that really likely?EM: Yeah. Absolutely this is what will happen. So there will be a shared autonomy fleet where you buy your car and you can choose to use that car exclusively, you could choose to have it be used only by friends and family, only by other drivers who are rated five star, you can choose to share it sometimes but not other times. That’s 100 percent what will occur. It’s just a question of when.CA: Wow. So you mentioned the Semi and I think you’re planning to announce this in September, but I’m curious whether there’s anything you could show us today?EM: I will show you a teaser shot of the truck. It’s alive.CA: OK.EM: That’s definitely a case where we want to be cautious about the autonomy features. Yeah.CA: We can’t see that much of it, but it doesn’t look like just a little friendly neighborhood truck. It looks kind of badass. What sort of semi is this?EM: So this is a heavy duty, long-range semitruck. So it’s the highest weight capability and with long range. So essentially it’s meant to alleviate the heavy-duty trucking loads. And this is something which people do not today think is possible. They think the truck doesn’t have enough power or it doesn’t have enough range, and then with the Tesla Semi we want to show that no, an electric truck actually can out-torque any diesel semi. And if you had a tug-of-war competition, the Tesla Semi will tug the diesel semi uphill.CA: That’s pretty cool. And short term, these aren’t driverless. These are going to be trucks that truck drivers want to drive.EM: Yes. So what will be really fun about this is you have a flat torque RPM curve with an electric motor, whereas with a diesel motor or any kind of internal combustion engine car, you’ve got a torque RPM curve that looks like a hill. So this will be a very spry truck. You can drive this around like a sports car. There’s no gears. It’s, like, single speed.CA: There’s a great movie to be made here somewhere. I don’t know what it is and I don’t know that it ends well, but it’s a great movie.EM: It’s quite bizarre test-driving. When I was driving the test prototype for the first truck. It’s really weird, because you’re driving around and you’re just so nimble, and you’re in this giant truck.CA: Wait, you’ve already driven a prototype?EM: Yeah, I drove it around the parking lot, and I was like, this is crazy.CA: Wow. This is no vaporware.EM: It’s just like, driving this giant truck and making these mad maneuvers.CA: This is cool. OK, from a really badass picture to a kind of less badass picture. This is just a cute house from Desperate Housewives or something. What on earth is going on here?EM: Well, this illustrates the picture of the future that I think is how things will evolve. You’ve got an electric car in the driveway. If you look in between the electric car and the house, there are actually three Powerwalls stacked up against the side of the house, and then that house roof is a solar roof. So that’s an actual solar glass roof.CA: OK.EM: That’s a picture of a real — well, admittedly, it’s a real fake house. That’s a real fake house.CA: So these roof tiles, some of them have in them basically solar power, the ability to –EM: Yeah. Solar glass tiles where you can adjust the texture and the color to a very fine-grained level,and then there’s sort of microlouvers in the glass, such that when you’re looking at the roof from street level or close to street level, all the tiles look the same whether there is a solar cell behind it or not. So you have an even color from the ground level. If you were to look at it from a helicopter, you would be actually able to look through and see that some of the glass tiles have a solar cell behind them and some do not. You can’t tell from street level.CA: You put them in the ones that are likely to see a lot of sun, and that makes these roofs super affordable, right? They’re not that much more expensive than just tiling the roof.EM: Yeah. We’re very confident that the cost of the roof plus the cost of electricity — a solar glass roof will be less than the cost of a normal roof plus the cost of electricity. So in other words, this will be economically a no-brainer, we think it will look great, and it will last — we thought about having the warranty be infinity, but then people thought, well, that might sound like were just talking rubbish, but actually this is toughened glass. Well after the house has collapsed and there’s nothing there, the glass tiles will still be there.CA: I mean, this is cool. So you’re rolling this out in a couple week’s time, I think, with four different roofing types.EM: Yeah, we’re starting off with two, two initially, and the second two will be introduced early next year.CA: And what’s the scale of ambition here? How many houses do you believe could end up having this type of roofing?EM: I think eventually almost all houses will have a solar roof. The thing is to consider the time scale here to be probably on the order of 40 or 50 years. So on average, a roof is replaced every 20 to 25 years. But you don’t start replacing all roofs immediately. But eventually, if you say were to fast-forward to say 15 years from now, it will be unusual to have a roof that does not have solar.CA: Is there a mental model thing that people don’t get here that because of the shift in the cost, the economics of solar power, most houses actually have enough sunlight on their roof pretty much to power all of their needs. If you could capture the power, it could pretty much power all their needs. You could go off-grid, kind of.EM: It depends on where you are and what the house size is relative to the roof area, but it’s a fair statement to say that most houses in the U.S. have enough roof area to power all the needs of the house.CA: So the key to the economics of the cars, the semi, of these houses is the falling price of lithium-ion batteries, which you’ve made a huge bet on as Tesla. In many ways, that’s almost the core competency. And you’ve decided that to really, like, own that competency, you just have to build the world’s largest manufacturing plant to double the world’s supply of lithium-ion batteries, with this guy. What is this?EM: Yeah, so that’s the Gigafactory, progress so far on the Gigafactory. Eventually, you can sort of roughly see that there’s sort of a diamond shape overall, and when it’s fully done, it’ll look like a giant diamond, or that’s the idea behind it, and it’s aligned on true north. It’s a small detail.CA: And capable of producing, eventually, like a hundred gigawatt hours of batteries a year.EM: A hundred gigawatt hours. We think probably more, but yeah.CA: And they’re actually being produced right now.EM: They’re in production already.CA: You guys put out this video. I mean, is that sped up?EM: That’s the slowed down version.CA: How fast does it actually go?EM: Well, when it’s running at full speed, you can’t actually see the cells without a strobe light. It’s just blur.CA: One of your core ideas, Elon, about what makes an exciting future is a future where we no longer feel guilty about energy. Help us picture this. How many Gigafactories, if you like, does it take to get us there?EM: It’s about a hundred, roughly. It’s not 10, it’s not a thousand. Most likely a hundred.CA: See, I find this amazing. You can picture what it would take to move the world off this vast fossil fuel thing. It’s like you’re building one, it costs $5 billion, or whatever, $5 to $10 billion. Like, it’s kind of cool that you can picture that project. And you’re planning to do, at Tesla — announce another two this year.EM: I think we’ll announce locations for somewhere between two and four Gigafactories later this year. Yeah, probably four.CA: Whoa. No more teasing from you for here? Like — where, continent? You can say no.EM: We need to address a global market.CA: OK. This is cool. I think we should talk for — actually, double mark it. I’m going to ask you one question about politics, only one. I’m kind of sick of politics, but I do want to ask you this. You’re on a body now giving advice to a guy –EM: Who?CA: Who has said he doesn’t really believe in climate change, and there’s a lot of people out there who think you shouldn’t be doing that. They’d like you to walk away from that. What would you say to them?EM: Well, I think that first of all, I’m just on two advisory councils where the format consists of going around the room and asking people’s opinion on things, and so there’s like a meeting every month or two. That’s the sum total of my contribution. But I think to the degree that there are people in the room who are arguing in favor of doing something about climate change, or social issues, I’ve used the meetings I’ve had thus far to argue in favor of immigration and in favor of climate change. And if I hadn’t done that, that wasn’t on the agenda before. So maybe nothing will happen, but at least the words were said.CA: OK. So let’s talk SpaceX and Mars. Last time you were here, you spoke about what seemed like a kind of incredibly ambitious dream to develop rockets that were actually reusable. And you’ve only gone and done it.EM: Finally. It took a long time.CA: Talk us through this. What are we looking at here?EM: So this is one of our rocket boosters coming back from very high and fast in space. So just delivered the upper stage at high velocity. I think this might have been at sort of Mach 7 or so, delivery of the upper stage.CA: So that was a sped-up –EM: That was the slowed down version.CA: I thought that was the sped-up version. But I mean, that’s amazing, and several of these failed before you finally figured out how to do it, but now you’ve done this, what, five or six times?EM: We’re at eight or nine.CA: And for the first time, you’ve actually reflown one of the rockets that landed.EM: Yeah, so we landed the rocket booster and then prepped it for flight again and flew it again, so it’s the first reflight of an orbital booster where that reflight is relevant. So it’s important to appreciate that reusability is only relevant if it is rapid and complete. So like an aircraft or a car, the reusability is rapid and complete. You do not send your aircraft to Boeing in-between flights.CA: Right. So this is allowing you to dream of this really ambitious idea of sending many, many, many people to Mars in, what, 10 or 20 years time, I guess.EM: Yeah.CA: And you’ve designed this outrageous rocket to do it. Help us understand the scale of this thing.EM: Well, visually you can see that’s a person. Yeah, and that’s the vehicle.CA: So if that was a skyscraper, that’s like, did I read that, a 40-story skyscraper?EM: Probably a little more, yeah. The thrust level of this is really — this configuration is about four times the thrust of the Saturn V moon rocket.CA: Four times the thrust of the biggest rocket humanity ever created before.EM: Yeah. Yeah.CA: As one does.EM: Yeah. In units of 747, a 747 is only about a quarter of a million pounds of thrust, so for every 10 million pounds of thrust, there’s 40 747s. So this would be the thrust equivalent of 120 747s, with all engines blazing.CA: And so even with a machine designed to escape Earth’s gravity, I think you told me last time this thing could actually take a fully loaded 747, people, cargo, everything, into orbit.EM: Exactly. This can take a fully loaded 747 with maximum fuel, maximum passengers, maximum cargo on the 747 — this can take it as cargo.CA: So based on this, you presented recently this Interplanetary Transport System which is visualized this way. This is a scene you picture in, what, 30 years time? Twenty years time? People walking into this rocket.EM: I’m hopeful it’s sort of an eight- to 10-year time frame. Aspirationally, that’s our target. Our internal targets are more aggressive, but I think –CA: OK.EM: While vehicle seems quite large and is large by comparison with other rockets, I think the future spacecraft will make this look like a rowboat. The future spaceships will be truly enormous.CA: Why, Elon? Why do we need to build a city on Mars with a million people on it in your lifetime, which I think is kind of what you’ve said you’d love to do?EM: I think it’s important to have a future that is inspiring and appealing. I just think there have to be reasons that you get up in the morning and you want to live. Like, why do you want to live? What’s the point? What inspires you? What do you love about the future? And if we’re not out there, if the future does not include being out there among the stars and being a multiplanet species, I find that it’s incredibly depressing if that’s not the future that we’re going to have.CA: People want to position this as an either or, that there are so many desperate things happening on the planet now from climate to poverty to, you know, you pick your issue. And this feels like a distraction.You shouldn’t be thinking about this. You should be solving what’s here and now. And to be fair, you’ve done a fair old bit to actually do that with your work on sustainable energy. But why not just do that?EM: I think there’s — I look at the future from the standpoint of probabilities. It’s like a branching stream of probabilities, and there are actions that we can take that affect those probabilities or that accelerate one thing or slow down another thing. I may introduce something new to the probability stream. Sustainable energy will happen no matter what. If there was no Tesla, if Tesla never existed, it would have to happen out of necessity. It’s tautological. If you don’t have sustainable energy, it means you have unsustainable energy. Eventually you will run out, and the laws of economics will drive civilization towards sustainable energy, inevitably. The fundamental value of a company like Tesla is the degree to which it accelerates the advent of sustainable energy, faster than it would otherwise occur.So when I think, like, what is the fundamental good of a company like Tesla, I would say, hopefully, if it accelerated that by a decade, potentially more than a decade, that would be quite a good thing to occur. That’s what I consider to be the fundamental aspirational good of Tesla.Then there’s becoming a multiplanet species and space-faring civilization. This is not inevitable. It’s very important to appreciate this is not inevitable. The sustainable energy future I think is largely inevitable, but being a space-faring civilization is definitely not inevitable. If you look at the progress in space, in 1969 you were able to send somebody to the moon. 1969. Then we had the Space Shuttle. The Space Shuttle could only take people to low Earth orbit. Then the Space Shuttle retired, and the United States could take no one to orbit. So that’s the trend. The trend is like down to nothing. People are mistaken when they think that technology just automatically improves. It does not automatically improve. It only improves if a lot of people work very hard to make it better, and actually it will, I think, by itself degrade, actually. You look at great civilizations like ancient Egypt, and they were able to make the pyramids, and they forgot how to do that. And then the Romans, they built these incredible aqueducts. They forgot how to do it.CA: Elon, it almost seems, listening to you and looking at the different things you’ve done, that you’ve got this unique double motivation on everything that I find so interesting. One is this desire to work for humanity’s long-term good. The other is the desire to do something exciting. And often it feels like you feel like you need the one to drive the other. With Tesla, you want to have sustainable energy, so you made these super sexy, exciting cars to do it. Solar energy, we need to get there, so we need to make these beautiful roofs. We haven’t even spoken about your newest thing, which we don’t have time to do, but you want to save humanity from bad AI, and so you’re going to create this really cool brain-machine interface to give us all infinite memory and telepathy and so forth. And on Mars, it feels like what you’re saying is, yeah, we need to save humanity and have a backup plan, but also we need to inspire humanity, and this is a way to inspire.EM: I think the value of beauty and inspiration is very much underrated, no question. But I want to be clear. I’m not trying to be anyone’s savior. That is not the — I’m just trying to think about the future and not be sad.CA: Beautiful statement. I think everyone here would agree that it is not — none of this is going to happen inevitably. The fact that in your mind, you dream this stuff, you dream stuff that no one else would dare dream, or no one else would be capable of dreaming at the level of complexity that you do. The fact that you do that, Elon Musk, is a really remarkable thing. Thank you for helping us all to dream a bit bigger.EM: But you’ll tell me if it ever starts getting genuinely insane, right?CA: Thank you, Elon Musk. That was really, really fantastic. That was really fantastic. –shares
August 30, 2018 –shares 5 min read Taxes Next Article Add to Queue Learn how to successfully navigate family business dynamics and build businesses that excel. Free Webinar | July 31: Secrets to Running a Successful Family Business New York Gov. Andrew Cuomo brought up Nixon’s corporation as a means of insinuating that she accepts corporate campaign donations. Image credit: Pool | Getty Images Register Now » Lydia Belanger Cynthia Nixon Has a Corporation, and That’s Totally Normal for Professionals Like Her During yesterday’s New York State Democratic gubernatorial debate, incumbent Gov. Andrew Cuomo told challenger Cynthia Nixon in an accusatory tone, “you are a corporation.”He was referring to The Fickle Mermaid Corporation, an S corp the former Sex and the City star turned political candidate formed in 1999, according to the New York Department of State Corporations and Business Entity database.Like many in the entertainment industry, Nixon’s S corp facilitates finances related to her acting services. Cuomo brought up Nixon’s corporation as a means of insinuating that she accepts corporate campaign donations. Nixon has positioned herself as a progressive who is not beholden to corporate interests.Related: Cynthia Nixon’s Thermostat Request Is One Many Working Women Can Relate toIn a press release earlier this month, Nixon’s campaign stated that it has received $2 million in contributions — 98 percent of which were below $200 — and had $441,000 in cash on hand as of Aug. 14. The Cuomo re-election campaign, on the other hand, has $24 million in its coffers as of Aug. 30. From 2015 through 2017, more than 99 percent of Cuomo’s campaign donations exceeded $1,000, according to a New York Times analysis.“I am a person,” Nixon retorted initially to Cuomo’s characterization of her as a corporation. Then, when the issue of her corporation arose again during the last few minutes of the debate, Nixon clarified that many actors incorporate for tax purposes.Why do actors form corporations?“Due to tax codes,” said Craig Manzino, CPA, head of entertainment and partner at Prager Metis. “They’re typically S corps, and they’re called loan-out corps. Their sole purpose is to loan out the acting services of that person. These aren’t corporations like a GE or IBM corporate structure.”Typically, a professional who sells their services making $250,000 or more a year would consider going the S corp route, once they get to the income level where the costs of doing so aren’t a burden.“We always tell people, these aren’t toys,” Manzino said. “They’re serious. You want to do it right.”Athletes are another example of individuals who form S corps. However, the law states that they must be paid as employees by the team that they play for, so they can only use S corps for aspects such as their endorsement deals and merchandise or autograph sales.Nixon grossed $5 million between 2013 and 2017, according to reports on her tax returns. Of that money, she paid herself $2.1 million, and the remaining $3 million went to retirement savings, a salary for her wife, Christine Marinoni, assistants, taxes and expenses related to “professional development” (acting coaches, hair and makeup for performances, etc.), according to Politico.“These are the typical things that would be itemized deductions, for an individual,” Manzino said. “But definitely under our current tax code, those things are no longer allowed to be deducted, which is why actors use corporations.”Actors are considered employees by say, the networks they work for, but they’re not eligible for benefits, Manzino explained. They’re on their own for professional development, retirement savings and more. Tax laws have changed to limit deductions of these sorts of expenses over time, but currently, individuals are not allowed to deduct these things. Only corporations can.“She is using the tax code legally to reduce her tax bill, no different than any other business owner,” Manzino said of Nixon. “She’s not doing anything aggressive or out of the ordinary.”So, why an S corp and not an LLC or sole proprietorship?Well, for one, LLCs aren’t part of the tax code. They’re legal entities. A single-member LLC would file on their personal tax return, whereas an S corp files taxes as a corporation. Entertainers, specifically, form S corps because then they’re their own employees. They pay their own payroll and taxes.If an actor doesn’t have an S corp, a media company might refuse to work with them. The IRS or state might sense that payroll taxes and unemployment insurance haven’t been paid otherwise and come after them.For those below the millionaire actor level, such as freelance writers or graphic designers offering their services, chances are they’d file as sole proprietors. But you have to consider your needs in terms of both legal protection and tax planning to decide what’s right for you, Manzino said.“It really is a very direct and personal decision based on facts and circumstances,” Manzino said, explaining that individuals must weigh how their entity’s ownership will be structured, whether they expect profits or losses and other factors.“There’s no real rule of thumb. I sort of equate it to therapy — you can’t take the advice that someone’s giving your neighbor.”
Director of the Entrepreneur Partner Studio Technology July 12, 2011 –shares Add to Queue Next Article Register Now » Entrepreneur Staff Swiss Group Wants to Banish PowerPoint Jason Fell min read While most people might not love using Microsoft’s PowerPoint to create presentations, at least one person is taking his distaste for the software to a global level.Matthias Poehm, a former software engineer-turned-public speaking trainer has started — yes — the Anti-PowerPoint Party (APPP) earlier this month. Headquartered in Bonstetten, Switzerland, the APPP calls itself an “international movement” that intends to “decrease the number of boring presentations worldwide.” The goal is to make it so that people who don’t want to use PowerPoint “will not have to justify themselves in the future,” it says.Right. Here’s the real kicker: The APPP says people who attend “futile” PowerPoint presentations result in almost $500 billion in hourly wage losses for employers worldwide. Instead, APPP says people should consider using flip charts, which it claims are 95 percent more effective than using presentation software. Here’s a video of Poehm explaining his reasoning: Learn how to successfully navigate family business dynamics and build businesses that excel. While an APPP representative didn’t immediately return an email seeking comment, the statistics above seem to originate from Poehm’s book, “The PowerPoint Fallacy.” Coincidentally, Poehm is offering the book at a 37 percent discount to APPP members.If this doesn’t seem wacky enough, the group says it also wants to participate in the Swiss national elections in October and become the country’s fourth-largest political party.In the meantime, for those of us who either like using presentation software or just don’t want to use a flip chart, business strategist, entrepreneur and venture capitalist Guy Kawasaki — who’s seen his fair share of PowerPoint pitches over the years — suggests abiding by a “10/20/30” rule when putting them together. Here are his tips:Keep it short. It shouldn’t take you more than 10 PowerPoint slides to explain your project or business, Kawasaki says. “A normal human being cannot comprehend more than 10 concepts in a meeting,” he says.Don’t be long-winded. You should be able to present your 10 slides in no more than 20 minutes. “In a perfect business world, you would give your pitch in 20 minutes and then have 40 minutes remaining for discussion,” Kawasaki says.Make it readable. Kawasaki suggests using a font no smaller than 30 points and to use only the content that most convincingly communicates your points. “I guarantee it will make your presentations better because it will require you to find the most salient points and then know how to explain each of them well,” he says.How have you spiced up your presentations? Leave a comment below and let us know. Free Webinar | July 31: Secrets to Running a Successful Family Business
Image credit: Youtube Check Out This Amazing Drone Footage of Apple’s Future Campus The building will reportedly have room for 13,000 employees. Free Webinar | July 31: Secrets to Running a Successful Family Business Entrepreneur Staff –shares Entrepreneur Staff Construction looks like it’s steadily progressing on Apple’s “Spaceship” campus in Cupertino, Calif.Related: A Drone’s-Eye View of Apple’s ‘Spaceship’ CampusCheck out the latest footage in the video below, courtesy of Matthew Roberts. 1 min read November 1, 2016 Learn how to successfully navigate family business dynamics and build businesses that excel. Add to Queue Next Article Apple Register Now »
Arkose LabsArkose Labs systemBugcrowdfraud prevention technologyMarketing Technology NewsNews Previous ArticleMediaRadar Study: Number of Companies Placing Native Ads Programmatically Increases YoYNext ArticleMonetate Recognized as A Leader in the 2019 Gartner Magic Quadrant for Personalization Engines for the Second Consecutive Year Arkose Labs Announces Private Bug Bounty Program with Bugcrowd to Strengthen Fraud Prevention System MTS Staff Writer12 hours agoJuly 23, 2019 Private Bounty Program Leverages Bugcrowd’s Crowdsourced Research Team for More Robust Security TestingArkose Labs, the leading provider of advanced fraud prevention technology for the world’s most targeted enterprises, announced an exclusive private bug bounty program with Bugcrowd, the #1 crowdsourced security platform. The program will enable a continuous assurance of the stability and strength of the various product features that make up the Arkose Labs system.With a private bounty program, Arkose Labs will gain access to Bugcrowd’s Elite Crowd, and is able to tailor its testing pool based on specific skill sets to help eliminate account takeover attacks, fake user registrations, and other types of fraud and application abuse. Arkose Labs will now have more direct communication with a smaller group of testers, and can harness the power of the crowdsourced model while retaining more control to test and introduce new challenges to market faster.“As a security company in the fraud prevention space with an end-user facing product, we are lucrative targets for a wide range of attackers using innovative methods, such as Single Request Attacks,” said Anna Westelius, senior director of engineering at Arkose Labs. “Compromising our proprietary challenge—response mechanism, Enforcement, requires a very specific skill set and partnering with Bugcrowd ensures we have a more informed path forward to stay ahead of attackers.”Marketing Technology News: OpenText Automates Invoicing for Rosneft DeutschlandFollowing the launch of the public bounty program in 2018, Arkose Labs saw significant value in crowdsourced cybersecurity, specifically in the development process. Utilizing crowdsourced testing as an additional validation step during development enables Arkose Labs to test features against “real world” attackers and gain insight into how attackers approach an attack on the company’s system. The new private program empowers Arkose Labs with the knowledge on what is still good enforcement technology for a more informed path forward.Bugcrowd connects organizations with hundreds of highly skilled and diverse whitehat hackers, and a team of security experts helping triage vulnerability submissions as they come in to manage crowdsourced security programs. Bugcrowd’s Elite Crowd is comprised of the top researchers, measured in two key areas:Skill: A standard of high-impact submissions, averaging only high and critical submissions across a range of specific attack surface areas.Trust: Proven trust through ID verification and success working on private programs for top customers.Marketing Technology News: Gartner Survey Shows Inside Sales Organizations Risk Losing 24% of Employees This Year“Arkose Labs is unique in its approach to fighting online fraud and abuse, led by the sophisticated challenge mechanics it deploys through Enforcement,” said Ashish Gupta, CEO of Bugcrowd. “By partnering with us on a private bounty program, Arkose Labs is demonstrating its commitment to protecting the world’s largest enterprises from increasingly sophisticated attacks, and will continue to stay ahead with a more informed approach.”The Arkose Labs system exclusively stops abuse before it occurs with zero impact to user conversion, and Arkose Labs is the only provider to offer a service-level agreement to back the efficacy and accuracy of proprietary defenses.Marketing Technology News: James Liu Appointed to Board of Directors of Opera Limited
Explore further New car registrations rose for the fourth consecutive year, growing by 3.4 percent to 15.1 million units last year, the European Automobile Manufacturers’ Association (ACEA) said in a statement. The last time the number had exceeded that was in 2007 when a total 15.9 million new cars were registered. In the wake of the global economic crisis of 2008, new car sales skidded to as low as 11.8 million in 2013, but have been on the rebound in recent years. The strongest increases in sales last year were seen in Italy and Spain, where new registrations were up by 7.9 percent and 7.7 percent respectively. Sales were up by 4.7 percent in France and by 2.7 percent in Germany, ACEA calculated.By contrast, new cars sales slumped by 5.7 percent in Britain, the first decline in six years, as the country grapples with its decision to quit the EU. In December alone, however, new car registrations were down by 4.9 percent across the EU as a whole, largely because there was one working day less than in December 2016. Sales were down in almost all European markets in December, apart from Spain where new registrations were up 6.2 percent.British car sales plummeted by 14.4 percent in December, ACEA calculated. German giant Volkswagen remains Europe’s biggest carmaker, commanding a market share of 23.6 percent, the data showed.French group PSA, which makes Peugeot, Citroen and DS brands, saw its market share balloon to 15 percent from 8.9 percent after it recently acquired the German and British automakers Opel and Vauxhall from General Motors.French rival Renault ranked third with a market share of 12.7 percent, the ACEA data showed. New car registrations in Europe rose for the fourth consecutive year, growing by 3.4 percent to 15.1 million units last year Citation: EU car sales top 15-mn barrier in 2017: data (2018, January 17) retrieved 18 July 2019 from https://phys.org/news/2018-01-eu-car-sales-mn-barrier.html French carmaker PSA says global sales up 15% in 2017 © 2018 AFP This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. The number of new cars sold in Europe topped the 15-million mark for the first time in a decade in 2017, the bloc’s industry body calculated in new data published Wednesday.
Using a proton exchange membrane electrolyser to produce hydrogen from renewable electricity and water can help industry slash emissions. Credit: Siemens This is Germany’s largest refinery, consuming about 180,000 tonnes of hydrogen a year. The new electrolyser will provide a modest amount of hydrogen towards this total – about 1,300 tonnes a year. But if the trial is successful, then the technology could be expanded.Aside from producing hydrogen, REFHYNE has another purpose that helps make a business case for its use. The electrolyser can be turned on or off very quickly, meaning it can provide a grid balancing service to cope with periods of high or low demand in the electrical grid.’The utility (companies) need to balance intermittent renewables with base plants,’ said Dr Frithjof Kublik, senior consultant for business development at the Rhineland refinery. ‘The electrolyser has the advantage that it can turn on or off very fast, in a few seconds, and from that point of view you can offer a grid balancing service.’Grid balancing services benefit from flexibility, which ‘the utility company is willing to pay a price for,’ said Kublik.It’s also something being investigated in Denmark, where a project called HyBalance has developed a demonstration plant in Hobro that produces hydrogen from water electrolysis when the amount of electricity being produced by renewables exceeds that needed by the grid.’The project is really to test how we can use the renewable energy from the grid and transform it into hydrogen, that can be used either in industry or for energy applications,’ said Caroline Le Mer, Hydrogen Energy Europe Director at Air Liquide, which coordinates the project.SpikesThe plant opened in September 2018 and will run for 15 years, using the same electrolysing process as H2FUTURE and REFHYNE to produce hydrogen, which is known as proton exchange membrane (PEM) electrolysis. More traditional electrolysers rely on alkaline electrolysis, but PEM is advantageous as it can deal with spikes in supply, such as from renewable energies like wind and solar.That’s particularly useful in Denmark, where wind power is abundant – in 2015, 42% of its electricity was produced by wind power. At the HyBalance demonstration plant, this is used to produce hydrogen when electricity levels are low, such as at night, or when wind levels are high.The gas is either sold to industry or used for powering hydrogen cars, with the overall goal being to show that hydrogen can be produced in large enough quantities via renewable energy to be useful to industries.At a later stage, the hydrogen could be kept in salt caves for future use – a low cost way to store large quantities. This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. Around a fifth of all greenhouse gas emissions are produced by industries such as steel and cement so if we’re going to work towards an emission-free society then this is a good place to start. And one promising technology may have a key role to play. Provided by Horizon: The EU Research & Innovation Magazine Credit: Horizon It is admittedly a small test – the electrolyser will reduce just a fraction of carbon emissions at the plant. But this is only a pilot project, with designs on scaling this up for bigger hydrogen production in future, using an electrolyser running at a capacity of 100 megawatts.Near Cologne in Germany, meanwhile, under a project called REFHYNE, ITM Power is developing a ten-megawatt electrolyser which will begin operations in 2020. It is being installed on the Rhineland refinery, operated by Shell Deutschland Oils, which currently relies on steam reforming to produce hydrogen. ‘Hydrogen and fuels derived (from it) is capable of reducing the carbon dioxide emissions from fossil fuels in the very, very long term, down to zero,’ said Klaus Scheffer, project manager at Siemens. ‘You don’t need fossil energies in a future world. I hope my kids will see that.’The technology is green hydrogen – using an electric current to convert water into oxygen and hydrogen – and if this is powered with renewable energy then it produces no carbon emissions. If this is, in turn, used to provide a clean source of fuel for industry or to balance the electricity grid, it could help alter the future of the planet.The main problem so far has been how to make hydrogen in large quantities cleanly. Currently, about 96 percent of global hydrogen is produced by reforming methane, which produces carbon dioxide as a waste product. Green hydrogen produced with this electrolysis method, however, is a much cleaner alternative.Scheffer is helping to create a source of green hydrogen for use at a steel plant in Linz, Austria, as part of a project called H2FUTURE. The goal of this project is not just to produce green hydrogen from renewable energy, but to see if it can in turn be used to produce steel with a lower carbon footprint, dubbed green steel.’Steel production is one of the industries which are dominating the carbon dioxide emissions in the world,’ said Scheffer. ‘The steel production process applied in Linz uses loads of coal for steel production, (so there are) a lot of carbon dioxide emissions.’ViableThe first step of this project is to test if the technology is viable for commercial use – the electrolyser is set to begin full operations in spring 2019. Running at a capacity of six megawatts, the plant will produce about 1,200 cubic metres of green hydrogen an hour when it is fully operational. Citation: Can we produce enough green hydrogen to save the world? (2018, November 15) retrieved 17 July 2019 from https://phys.org/news/2018-11-green-hydrogen-world.html Emissions-free hydrogen production edges closer with new pilot site in Denmark Explore further