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Volkswagen Unveils First Driverless Robo-taxi

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The Sedric
  • Volkswagen Unveils First Driverless Robo-taxi

Volkswagen Group has unveiled a self-driving concept car, the Sedric, which can drive children to school, drop their parents in the offices, and then look independently for a parking space.

The vehicle, which provides an indication of how robo-taxis could operate in the future, can also collect pre-ordered shopping or meet the owner at the station or airport, according to an online journal, ARS Technica.

Presented last week at the Geneva auto show, one of the world’s most glamorous auto exhibitions, the automaker said the concept car gave a glimpse of the future of personal transportation.

The Sedric is a small driverless pod, similar in stature to those found at Heathrow Airport, London but with a greater level of autonomy, the Telegraph of London reports in its review of the car.

The Sedric is expected to waft through the urban landscape silently with the aid of electric motors.

The idea of developing fully autonomous vehicles that would offer greater comfort and convenience than current cars, while slashing the number of road deaths and truly democratising mobility gave birth to the Sedric, ARS Technica, said, in its report.

It said it was the first concept car built by the Volkswagen Group.

It quoted the car’s Chief Designer, Mr. Michael Mauer, as saying it was developed by Volkswagen Group’s Future Centre Europe in Potsdam and Volkswagen Group Research in Wolfsburg.

He said, “We are systematically focusing on our customers, their wishes and requirements for the mobility of the future.

“The Volkswagen Group Future Centres give us the opportunity to conceptualise and develop new ideas of mobile life.”

According to Volkswagen, Sedric will serve as either a shared mobility system operating worldwide or a vehicle from one of the group’s brands that might be owned by an individual.

The company also noted that despite much talk in recent years about future mobility ushering in new ownership models, many people would continue to desire their own automobile in the future.

Volkswagen said it aimed to make the Sedric very simple to operate, using a remote control called the Button: pressing it summons car and identifies the user when the car arrives.

Two wide doors on each side slide open to reveal an airy interior with sofa-style seats facing towards the centre.

No steering wheel

Sedric has no steering wheel, no pedals, and no conventional cockpit controls or instruments.

Volkswagen said this would permit “a completely new sense of well-being in the vehicle-a welcome home feeling.”

According to the reviewer, the front seats fold up to provide more floor area so the rear passengers can stretch out or to house luggage. Air quality is maintained using large bamboo charcoal air filters and a collection of air-purifying plants that sit in front of the rear windscreen.

It said, “Once inside, operation is based on voice commands: you just tell Sedric where you want to go and the route you will prefer to take. Sedric responds with information on the journey time and the current traffic situation.

“Passengers – since there’s no human driver, everyone is a passenger – can sit back and relax or can engage more fully with the journey through a windscreen that is in fact a transparent, high-resolution OLED display. This can provide augmented reality data or can be used as an entertainment centre.”

The Volkswagen’s Chief Digital Officer, Johann Jungwirth, said the company would become a leading mobility provider by 2025 and would “in part become a software and services company” in the process.

Volkswagen quoted an American computer scientist, Alan Kay, as saying, “People who are really serious about software should make their own hardware.” Jungwirth added that Volkswagen already had decades of experience with the hardware.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Madica Empowers African Startups with $200,000 Investments Each

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Madica, a structured investment program dedicated to nurturing pre-seed stage startups in Africa, has announced its inaugural investments in three innovative ventures.

Each of these startups is set to receive up to $200,000 in funding from Madica and will participate in the program’s comprehensive 18-month company-building support initiative.

The investment program provides a personalized curriculum, hands-on mentorship, founder immersion trips, executive coaching, and access to Madica’s extensive global network of investors for follow-on funding.

The primary objective of this support is to drive growth and ensure the long-term success of the startups.

Emmanuel Adegboye, Head of Madica, expressed his excitement regarding the investments, highlighting the abundant talent and innovation present in the African tech ecosystem.

He said Madica is committed to supporting African founders who often face challenges in accessing necessary support due to perceptions of risk among global investors.

Madica employs an open application process, collaborating closely with local ecosystem players such as incubators, accelerators, and angel networks to identify and support promising entrepreneurs.

The selection process remains rigorous, with investments made on a rolling basis throughout the year.

With plans to invest in up to 10 additional startups this year, Madica aims to expand the reach of venture capital and founder mentorship across Africa, addressing the existing imbalances in funding availability.

The announcement of these investments marks a significant milestone for the selected startups, providing them with vital financial support as well as access to invaluable resources and networks to propel their growth and success in the competitive landscape of the African startup ecosystem.

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Meta’s Revenue Woes Shake Tech Industry Confidence

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The tech industry faced a wave of uncertainty as Meta Platforms Inc., formerly known as Facebook, delivered a disappointing earnings report that sent shockwaves through the market and dented investor confidence.

Meta’s forecast of weaker-than-expected sales for the current quarter, coupled with plans for higher capital expenditures, rattled investors who were eagerly anticipating robust results.

Shares of Meta plummeted by as much as 19% in after-hours trading to trigger a cascade effect across the tech sector.

The tech-heavy Nasdaq 100 Index experienced a decline of up to 1%, reflecting broader concerns about the health of the industry.

Analysts and investors alike expressed dismay at Meta’s inability to meet revenue expectations, citing uncertainties surrounding the company’s adoption and monetization of artificial intelligence (AI) technologies.

Jack Ablin, Chief Investment Officer at Cresset Wealth Advisors, highlighted the disappointment on the revenue front, overshadowing any optimism about AI adoption.

Questions lingered regarding the efficacy of AI investments and their potential benefits to users, leading to increased skepticism among stakeholders.

The repercussions of Meta’s earnings miss extended beyond its own stock, impacting other tech giants slated to report earnings in the coming days.

Alphabet Inc., Amazon.com Inc., and social media companies like Snap Inc. and Pinterest Inc. all witnessed notable declines, signaling a broader sentiment shift within the industry.

The fallout from Meta’s revenue woes reverberated across the tech landscape, affecting chipmakers, server manufacturers, and software firms. Nvidia Corp., Micron Technology Inc., and International Business Machines Corp. were among the companies affected, as investor concerns over AI investment and revenue growth cast a shadow over the sector’s outlook.

As the tech industry grapples with Meta’s disappointing results, stakeholders are left to ponder the implications for future investments and strategic decisions.

The episode serves as a stark reminder of the inherent volatility and uncertainty within the tech sector, underscoring the importance of diligent risk management and strategic foresight in navigating turbulent markets.

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TikTok Vows Legal Battle Amid Threat of US Ban

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As the specter of a US ban looms large over TikTok, the popular social media platform has declared its intention to wage a legal battle against potential legislation that could force its Chinese-owned parent company, ByteDance Ltd., to divest its ownership stake in the app.

In what amounts to a fight for its very existence in one of its most crucial markets, TikTok is gearing up for a high-stakes showdown in the courts.

The alarm bells were sounded within TikTok’s ranks as Michael Beckerman, the company’s head of public policy for the Americas, issued a rallying cry to its US staff.

In a memo obtained by Bloomberg News, Beckerman characterized the proposed legislation as an “unprecedented deal” brokered between Republican Speaker and President Biden, signaling TikTok’s readiness to challenge it legally once signed into law.

“This is an unprecedented deal worked out between the Republican Speaker and President Biden,” Beckerman stated in the memo. “At the stage that the bill is signed, we will move to the courts for a legal challenge.”

The urgency of TikTok’s response stems from recent developments in the US Congress, where lawmakers have fast-tracked legislation mandating ByteDance’s divestment from TikTok.

The bill, intricately linked to a vital aid package for Ukraine and Israel, has garnered significant bipartisan support and is expected to swiftly pass through the Senate before landing on President Biden’s desk.

Beckerman minced no words in his critique of the proposed legislation, labeling it a “clear violation” of TikTok users’ First Amendment rights and warning of “devastating consequences” for the millions of small businesses that rely on the platform for their livelihoods.

TikTok’s defiant stance reflects the gravity of the situation facing the tech giant, which has spent years grappling with concerns from US officials regarding potential national security risks associated with its Chinese ownership.

Despite extensive lobbying efforts led by TikTok CEO Shou Chew to allay these fears, the company now finds itself at a critical juncture, where legal action appears to be its last line of defense.

ByteDance, TikTok’s Beijing-based parent company, has also signaled its intent to challenge any US ban in court, signaling a united front in the face of mounting pressure.

However, navigating the legal landscape will not be without its challenges, as ByteDance must contend with both US legislative measures and potential obstacles posed by the Chinese government, which has reiterated its opposition to a forced sale of TikTok.

As TikTok prepares to embark on what promises to be a protracted legal battle, the outcome remains uncertain.

For the millions of users and businesses that call TikTok home, the stakes have never been higher, as the platform fights to preserve its presence in the fiercely competitive landscape of social media.

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