Here’s what we have for you today:
• Techie on tech
• Another billionaire down
• Gold rush
Apple co-founder on Tesla’s capabilities
Crash course: Apple co-founder Steve Wozniak a former believer in Tesla wants to warn people about how bad he believes Tesla’s Auto Pilot self-driving system actually is.
The claim: Wozniak states “Boy, if you want to study AI gone wrong, and making a lot of claims, and trying to kill you every chance it can, get a Tesla”.
Calling the EMT: Wozniak continues “A lot of honesty disappears when you look at Elon Musk and Tesla. They have robbed my family, myself and my wife, of so much money… with things they said that we really believed would be real”.
Billionaire Carl Icahn dropped like a fly
Digging deep: Hindenburg Research accuses Icahn of using a Ponzi-like scheme in his investment firm (Icahn Enterprises LP).
The reason: “In brief, Icahn has been using money taken in from new investors to pay out dividends to old investors. Such Ponzi-like economic structures are sustainable only to the extent that new money is willing to risk being the last one ‘holding the bag’,” Hindenburg said in a May 2, 2023 report.
Icahn biting back: He states “We believe the self-serving short seller report published by Hindenburg Research today was intended solely to generate profits on Hindenburg’s short position at the expense of IEP’s long-term unitholders”.
Heavy metal gold weighing in
Gold standard: Central banks around the world are increasing stockpiles of gold amid a growing backlash against the dollar.
The demand: In the first quarter of 2023, 228.4 tons of gold were added to global reserves, the World Gold Council reported on May 5, 2023.
The numbers: The top gold buyers in the first quarter of 2023 were largely in Asia. Singapore’s central bank led the way with purchases of 69 tons, followed by China with 58 tons, Turkey with 30 tons, and India with 7 tons, according to the World Gold Council.
Hinting de-dollarization: “Thus the oldest and most traditional of assets, gold, is now a vehicle of central bank revolt against the dollar,” according to Ruchir Sharma, chair of Rockefeller International.
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