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Paramount May Leave California If Merger Is Blocked Paramount has agreed to delay its planned acquisition of Warner Bros. Discovery until as late as June 2027 while an antitrust lawsuit moves through the courts. California Attorney General Rob Bonta is leading the effort to block the roughly $111 billion...

11,900 просмотров • 23 дней назад •via X (Twitter)

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Newsom’s Bureaucracy Costs California $3.2 Billion as Shipyard Flees to Texas Saronic Technologies has ditched Solano County in California for Brownsville, Texas, taking its $3.2 billion autonomous shipyard and 10,000 permanent jobs with it. (Video: AI) Even worse for Newsom, the billionaire-backed California Forever project — a major planned new city development financed by Silicon Valley heavyweights including Laurene Powell Jobs, Reid Hoffman, Marc Andreessen and others — just took a devastating blow because it had hoped to land this shipyard as its key anchor industrial tenant. This is a MASSIVE loss for the Golden State — one of just many recently, joining the likes of Chevron, Tesla, Oracle, Hewlett Packard Enterprise, and others that have moved operations or headquarters out of California. Companies and developments are leaving at an alarming rate — this means lost tax revenue, lost jobs, and lost income for the state. Yet instead of addressing these serious challenges, Gov. Gavin Newsom spends his days attacking President Trump. While Texas moved fast, Sacramento’s sclerotic process under Newsom — delayed legislation, snubbed meetings, endless red tape — couldn’t close the deal. Another reminder of how burdensome regulations drive opportunity elsewhere. When will Sacramento prioritize jobs and growth over bureaucracy? Can California compete again, or is this the new normal? Leave your thoughts below like companies are leaving California! 🚀

Paul A. Szypula 🇺🇸

95,427 просмотров • 1 месяц назад

Since my account is somewhat anonymous I’m going to disclose where some of the California high-speed rail money gets wasted. 99% of you don’t realize where giant chunks of the money is disappearing to. The California high-speed rail authority, literally owns thousands of parcels of land that are in various stages continued litigation, tenant improvements, eviction, and constant maintenance. For example, there are many homes and apartment complexes in the plant path that have been purchased years ahead of construction. Removing those tenants is a slow and expensive process. (let’s ignore the extra stress on housing that all of these destroyed properties are causing) In some cases, these are low rent apartments with a lengthy eviction process During that process, the state of California is the landlord and has to maintain the property codes the same as any other landlord. This means repairs, adding smoke detectors, fixing roofs, vegetation management, landscaping, paying off tenants to leave early, boarding up Windows, constant trash cleanups, towing vehicles etc. But the High Speed Rail Authority doesn’t just have to maintain these properties at normal cost. Every single bit of that work has to be done at California prevailing wage rates. The work can only be done through qualified contractors that have passed through a long series of idiotic mazes to qualify to perform the work. An average rate per hour (charge rate) for a worker to perform any service on these properties is approximately $200 an hour for labor only. The cost go up for specialized work, like electricians, plumbers, or machine operators. Properties that are literally worthless are being maintained at huge expense just so the next round of homeless transients can break into the property and cause more damage. For reasons I can’t explain, the process to finally demo and remove the structures takes years. I’m only mentioning the tip of the iceberg regarding my firsthand knowledge. Completely separate from those outlandish costs are the inflation caused by the construction. The prevailing word on the street is that nothing is getting done. The truth is that a lot is getting done and none of it efficiently. The amount of concrete being poured daily and monthly to build gigantic overpasses for both the rail and roadways is not understood. In these work areas, every concrete mixing company is fully scheduled out and cannot offer building materials for other basic services such as building a house often times for weeks when the average lead time for many of these services used to be one day. And that’s just the schedule, never mind the huge cost increases from straining the supply chain and Labor pool. The amount of concrete and steel that has gone into the structures so far is massive. Dozens and dozens of new water wells have been dug just for dust control. Thousands upon thousands of acres of highly productive tree fruits and nuts have been torn up and shredded. Utility scale solar fields have been uprooted and sometimes relocated at extravagant costs. Every type of business you can imagine has gone through either a closure, relocation, or a long-term tenant agreement with the rail authority. In some cases, it’s just a buyout where the business closes its doors forever. The owners get something all of the workers get nothing. Don’t get me started on how thick the layers of bureaucracy are for these minute tasks that occur on all of these properties. The inefficiency is far beyond your wildest dreams. In many cases, this is not related to fraud in any way it’s just absolute ignorance, red tape, and failed leadership. I can go much deeper into specific examples, but I think that gives some of you an idea of what’s actually happening in California. If a rail is ever usable, some portions of the structures will be decades old and already in disrepair.

No Safe Words

271,640 просмотров • 5 месяцев назад

We have grit and now we officially have GRIID. 🤝 Today $CLSK announced the completed acquisition of GRIID Infrastructure Inc. (Nasdaq: GRDI)(“GRIID”) on October 30, 2024, following approval of the transaction by stockholders of GRIID at the special meeting of its stockholders on October 28, 2024. “I’m pleased to announce the completion of our acquisition of GRIID Infrastructure Inc., a strategic move that allows us to grow our Bitcoin mining capacity in the state of Tennessee, which we intend to build to over 400 MW in the coming years,” said CleanSpark CEO Zach Bradford. “Moreover, this adds significant geographic and power supply diversity through expansion in the Tennessee Valley Authority (TVA) service territory, providing us with additional operational flexibility.” “We look forward to smoothly integrating GRIID’s team into ‘The CleanSpark Way,’ merging their impressive workforce with our own. We’ve gotten to know GRIID’s employees well in the past three months as we have prepared for the merge and they have hosted 50 MW of mining capacity for us. The fit couldn’t be better, and we are collectively ready to hit the ground running with GRIID’s existing capacity, new development in TVA, and additional talent supporting our previously acquired sites in the state,” said Bradford. “I’m proud to welcome CleanSpark to Tennessee,” said U.S. Senator Bill Hagerty. The Volunteer State is a great place to grow a business and has rapidly developed into one of the centers of America’s Bitcoin industry. We boast a globally competitive workforce, a superior quality of life, and thanks to TVA, reliable and affordable power. We are excited to see CleanSpark grow and invest in Tennessee.” “The closing of the merger is a great outcome for GRIID’s shareholders and employees,” said GRIID's former CEO Trey Kelly. “It’s great to start the next chapter, and merging with CleanSpark is a tribute to the business we’ve built with some of the best Bitcoin mining professionals in the world. CleanSpark has already begun demonstrating their ability to accelerate and maximize the value of GRIID’s power pipeline, and I see tremendous upside for the combined company in the years to come.” Under the terms of the merger agreement originally announced on June 27, 2024, each share of GRIID common stock was converted into approximately 0.06959 of a share of CleanSpark common stock at the effective time of the merger. In connection with the closing of the transaction, GRIID has requested that Nasdaq suspend trading of the GRIID common stock and GRIID public warrants on Nasdaq prior to the opening of trading on October 31, 2024. The shares of GRIID common stock are expected to be delisted from Cboe Canada at the end of the day on October 31, 2024. Full press release here:

CleanSpark Inc.

102,933 просмотров • 1 год назад

🚨 BREAKING SITREP: Major Earthquake causes Tsunami Warning in California - Residents urged to get to Higher Ground Am I the only who remembers hearing warnings about some kind of an earthquake in California several Weeks ago? 🔴 DETAILS A tsunami warning was issued for parts of California following a significant earthquake off the coast. • Earthquake — A preliminary magnitude 7.0-7.3 earthquake struck off the coast of Northern California, near Eureka, according to the U.S. Geological Survey (USGS). • Tsunami Warning — Following the earthquake, a tsunami warning was issued for coastal areas from Davenport, California (about 10 miles northwest of Santa Cruz), extending north to the Douglas/Lane county line in Oregon (about 10 miles southwest of Florence). —— This is confirmed from the California Governor's Office of Emergency Services and various news outlets. • Warnings and Advisories — Residents are urged to move to higher ground or inland due to the potential for dangerous tsunami waves. • Although no locations have been declared, these areas are most susceptible to being impacted by a Tsunami ### Northern California: - Crescent City - Humboldt Count ### Central California: - Santa Cruz - Monterey Bay ### Southern California: - Los Angeles County— Marina del Rey, Venice Beach, Santa Monica, Long Beach, Including the ports of Los Angeles and Long Beach, Malibu, and adjacent coastal areas. - Ventura County: - Santa Barbara County: ### San Francisco Bay Area: - San Francisco - Particularly areas along the waterfront. - San Mateo County - Coastal areas like Half Moon Bay. - Marin County - Shoreline regions. ### General Coastal Areas: - Low-lying coastal neighborhoods** across all these counties, especially those within a mile of the coast and less than 25 feet above sea level, are at risk. This includes: - San Diego County- Coastal cities like San Diego, La Jolla, and Oceanside. ### Additional Considerations: - Port and Harbor Infrastructure - Due to their importance for commerce, these areas like the ports of Los Angeles, Long Beach, and San Diego are at risk not just for flooding but also for significant economic impact. That is general list of areas I could find. I urge everyone just pay attention to reliable sources on evacuations, if needed. Stay safe frens. 🙏

MJTruthUltra

56,241 просмотров • 1 год назад

Recent years have seen major advances in aerial technology, from the creation of autonomous flying taxis to the launch of helium zeppelins the length of a football field. Though little has made its way here, many companies developing these sci-fi-seeming technologies see New York as an essential proving ground. Earlier this year, California–based Joby Aviation ran a series of demonstration flights between Manhattan and JFK Airport for its battery-powered air taxis. Skyports Infrastructure is upgrading the Downtown Skyport to accommodate electric aircraft. And while it’s likely years off, Google parent Alphabet is already looking to bring its Wing consumer-delivery service to the five boroughs. “Say it’s Taco Tuesday night, and you’ve forgotten the ground beef. We’re going to be the fastest way to get you that ground beef, so that you can continue preparing dinner for your kids,” says Heather Rivera, Wing’s chief business officer, who lives in New York. The technology is here, these companies say. It’s just a matter of figuring out how to make it work. “We have the most complicated transportation system, with the most stakeholders, and many different layers of regulation — federal, state, and local,” says Kathryn Garcia, executive director of the Port Authority. “But — and this is to quote a classic line — ‘if any of these folks can make it here, they can make it anywhere.’” Anne Kadet investigates the drone delivery, flying car, and autonomous plane companies looking to fly through NYC’s skies:

New York Magazine

31,866 просмотров • 1 месяц назад

🇺🇸 CALIFORNIA’S $250 BILLION FRAUD QUESTION IS LINGERING AND NEEDS TO BE ADDRESSED California has reportedly lost as much as $250 billion to fraud, waste, and abuse over roughly the last five years. The figure comes from a preliminary January 5 report branded “Califraudia,” built from hundreds of whistleblower submissions collected through their CalifraudCom portal. The allegations span unemployment insurance, homelessness spending, education payroll practices, community college aid, and health and food assistance programs. The strongest anchor in the claim is unemployment insurance. California has already acknowledged tens of billions in improper pandemic-era payments, with estimates ranging from roughly $20 billion to more than $55 billion due to breakdowns at the Employment Development Department. Hilton and Morgan argue that similar dysfunction exists across other programs, pushing total losses far higher, though their full methodology has not been publicly released. Governor Gavin Newsom’s office flatly rejects the number, calling it politically manufactured and saying the state has blocked or recovered more than $125 billion in fraud while prosecuting offenders. Independent state audits do confirm serious mismanagement and improper payments, but not a single verified $250 billion total. Trump escalated the fight by announcing a federal fraud investigation, turning a disputed figure into a national political weapon. For now, the number remains unproven, but the scrutiny on California’s spending is very real and heating up. Source: NY Post, Washington Examiner, Newsweek

Mario Nawfal

22,671 просмотров • 7 месяцев назад

AI just hit a wall that no amount of money can move. The planet itself. There is not enough power, water, or land on Earth to build the data centers the AI race now demands. So the most valuable bet in artificial intelligence is no longer a chip company or a model. It is a rocket company. The plan is to leave. In January, SpaceX filed with the FCC to launch up to 1 million solar-powered data center satellites into orbit. In February it bought xAI, the maker of Grok, folding an entire frontier AI lab into a rocket company in the largest corporate merger ever recorded. On June 8 it unveiled the AI1, a compute satellite with a 70-meter wingspan, wider than a Boeing 747, powered by the sun, cooled by the vacuum of space, and wired to the ground through Starlink. Four days later it went public in the largest IPO in history, near 1.77 trillion dollars, touched 2.1 trillion on its first day, raised close to 86 billion, and made one man the first trillionaire alive. Now read the direction of that merger, because it is the whole story. A rocket company bought the AI lab. Not the reverse. For three years everyone assumed the constraint on AI was chips, or data, or talent. It is none of them anymore. It is energy and heat and dirt. The head of Anthropic said his company grew faster than the exponential, 80 times in a single year, and that is exactly why it ran out of compute. The answer was not to build more data centers in Virginia. It was to leave the atmosphere, where the sun never sets and a solar panel does five times the work. The moat in artificial intelligence is no longer the model. It is the launch. And the first rent is already being paid. A rival lab, Anthropic, is reported to be sending roughly 1.25 billion dollars a month to Musk for compute. Google near 920 million. If intelligence moves to orbit, the company that owns the only affordable road there becomes the landlord of the next layer of the internet, the way one bookstore became the landlord of the cloud. The merger is the proof of concept. The IPO is the war chest. Those monthly checks are the lease. Here is the part the price tag does not want you to read. Close to a trillion dollars of that valuation rests on orbital data centers that do not yet exist, and on a chip factory, Terafab, that SpaceX's own public filing calls a general framework with no binding deal, one that may not achieve commercial viability. Musk said it on camera. This is not a promise. The largest IPO ever written is priced on a future the filing itself cannot verify. The other side is just as real. Compute in orbit costs about four times what it costs on the ground today, and the curve may not cross for fifteen years. The machines that print the chips are backordered for years. Shedding heat in a vacuum at this scale has never been done. Musk's timelines have a long history of meaning later. And Bezos is racing the same orbit with a constellation of 51,600 satellites of his own. But strip it all away and the trade underneath is one sentence. Earth has run out of room for intelligence, and whoever owns the road off the planet owns whatever gets built next. Call it the most expensive science fiction ever sold, or the first time the map of the internet pointed up.

Shanaka Anslem Perera ⚡

54,394 просмотров • 1 месяц назад

UPDATE FROM THE SAPS: AN ADDITIONAL 340 ILLEGAL MINERS RESURFACE IN ORKNEY The VALA UMGODI task teams led by the SAPS and SANDF in North West are intensifying their operations and ensuring that illegal mining activities and operations are dealt a blow. From last night, an additional 340 illegal miners have resurfaced have been placed under arrest. As of 12:00 (midday) on Sunday, 03 November 2024, at least 565 illegal miners workers have resurfaced. The Acting National Commissioner of the SAPS, Lieutenant General Shadrack Sibiya has commended the teams on the ground and encouraged them not to back down and ensure that the rule of law is restored. Earlier… 225 ILLEGAL MINERS RESURFACE AS A RESULT OF PRESSURE EXERTED BY VALA UMGODI TEAMS IN NORTH WEST — ALL 225 ARRESTED North West, 02 November 2024; The Acting National Commissioner of the South African Police Service, Lieutenant General Shadrack Sibiya has commended the Vala Umgodi task teams in the North West province for stamping the authority of the state. This is as 225 illegal miners resurfaced from underground in Orkney as a result of starvation and dehydration. These 225 illegal miners are part of others believed to be hundreds if not a thousand illegal miners who are stuck underground with no food, water and necessities because the Vala Umgodi teams led by the SAPS and SANDF are blocking routes used to deliver food and necessities to these illegal miners. Just earlier this week, SAPS and members of the SANDF blocked communities in and around these abandoned mining shifts in Orkney from delivering food parcels, water and necessities to these illegal miners. This act of stamping the authority of the state eventually forced these illegal miners to resurface. This operation is ongoing and the SAPS and the SANDF are still monitoring these old abandoned mine shafts as more and more illegal miners resurface. Lieutenant General Shadrack Sibiya says Operation Vala Umgodi is yielding positive results across the country. “We are closely monitoring the situation that is unfolding in the North West province, we are not backing down until all those illegal miners resurface and are arrested . Since its inception in December 2023 to date, more than 13 691 suspects have been arrested in the seven provinces that are hotspots for illegal mining. We have seized R5million in cash and uncut diamonds worth R32 million through Operation Vala Umgodi”, said Lt Gen Sibiya. The majority of those that have been arrested are inclusive of South Africans, Mozambicans, and Basotho nationals. The SAPS will update on other nationalities as and when more illegal miners resurface.

Yusuf Abramjee

151,042 просмотров • 1 год назад