“If you look at the Android smartwatches that have cellular, they are literally twice the size.”
The iPhone 8 and X have the new A11 Bionic chip, which enables all sorts of clever image processing, augmented reality and artificial intelligence tasks. That gives Apple a big advantage in the AR market, which Morgan Stanley estimates could be worth $404 billion over the next three years.
The FaceID is a perfect illustration of Apple’s not so secret “secret sauce” — a perfect symbiosis of silicon, physical hardware, software, and designing for delight. Their abilities to turn complex technologies into a magical moment is predicated on this harmonious marriage of needs.
Controlling your own destiny is a smart business strategy and Apple isn’t the only one doing it. Today Google and Facebook are designing and producing their own highly optimized hardware for networking and data centers, mostly because the industry vendors like Cisco Systems made gear that had to fit the needs of many companies. Google is designing its own chips — especially to conduct resource hungry machine learning and artificial intelligence tasks.
It all starts with Silicon. Unlike software which can be written, discarded and rewritten at a rapid clip, the law of reality makes it hard for a chip to be designed, tried and manufactured at scale. So in a sense, Apple’s chip and hardware teams have to peer almost two-to-four years into the future, predict what could be possible, what they can make possible and then make it work.
“Today if you look at the volume of the packages generated from our platform, it is about 55 million a day and we strongly believe that this can go grow to 1 billion, some years later. The size of the retail business in China is about 30 trillion yuan ($4.6 trillion). The question is, how do you redefine smarter package delivery? You don’t have to get the package and fly it from one warehouse to another city for a 200-kilometers delivery. You can deliver from the store nearby. It still creates a lot of new packages shipped, but very conveniently. So, today, all these logistics systems should be integrated into the commerce system.”
Fueled by contributions from some 370 million account holders, the fund, known as Yu’e Bao—which means “leftover treasure”—has grown rapidly to manage $211 billion in assets. It is more than twice the size of the next largest money-market fund, a U.S. dollar liquidity fund managed by J.P. Morgan Asset Management, according to data from Morningstar Inc. Yu’e Bao’s assets doubled in the past year alone, and the fund now makes up a quarter of China’s money-market mutual fund industry.
Data reviewed by The Wall Street Journal indicates Tianhong boosted Yu’e Bao’s returns in recent years by increasing its allocation of funds to financial instruments with longer maturities. Such assets, however, tend to be less liquid than bank deposits and lower-yielding investments. About 40% of Yu’e Bao’s investments mature in under 60 days, versus over 60% four years ago, according to Tianhong’s reports.
Tianhong said it has various measures in place to prevent a liquidity crunch and believes the “probability of mass redemption is very low.” It said most of the fund’s customers have fairly small holdings of around $590 on average.
The world’s second-biggest economy, which has vowed to cap its carbon emissions by 2030 and curb worsening air pollution, is the latest to join countries such as the U.K. and France seeking to phase out vehicles using gasoline and diesel. The looming ban on combustion-engine automobiles will goad both local and global automakers to focus on introducing more zero-emission electric cars to help clean up smog-choked major cities.
Currently, US technology groups such as Apple and Facebook are taxed in Europe based on profits rather than total revenues. Many of these companies have angered European tax collectors and voters for years by using EU governments’ disparate tax codes to record profits in jurisdictions with the lowest effective rates, meaning that some companies have been able to pay little or no tax in countries where they have billions in sales.
Genome editing works by breaking DNA, and letting a cell’s natural repair mechanisms fix it. This is usually quite haphazard, and precise repairs were thought to be rare.
Although faces are peculiar to individuals, they are also public, so technology does not, at first sight, intrude on something that is private. And yet the ability to record, store and analyse images of faces cheaply, quickly and on a vast scale promises one day to bring about fundamental changes to notions of privacy, fairness and trust.
China’s government keeps a record of its citizens’ faces; photographs of half of America’s adult population are stored in databases that can be used by the FBI. Law-enforcement agencies now have a powerful weapon in their ability to track criminals, but at enormous potential cost to citizens’ privacy.
Even if self-driving cars do become ubiquitous, the benefits aren’t certain — as an overview from the Victoria Transport Policy Institute points out. Consider traffic. Freed from driving, people might demand more luxurious vehicles, in which they can work or even sleep. The added amenities will take up more space on the road, while the comfort will encourage people to take bigger trips and endure longer commutes. They might even prefer to move more slowly, to avoid unexpected accelerations that could wake them up or tip over a wine glass. Empty cars might circle endlessly to avoid parking charges. The potential result: more miles driven, more congestion and increased emissions.
As the share of the world’s population with insufficient food supply has fallen from 52 per cent in 1965 to 3 per cent in 2005, most gains have come not through improved food production at home and self-sufficiency, but through increased trade; nearly 1 billion people worldwide now rely on international trade to meet their food needs.
While China is a key driver of increasing stress on the global food supply system, it is ironically not among the most vulnerable – not just because it has worked hard to diversify its food supply sources, but because it stands alone in investing serious money in improving the food supply chains on which it so heavily depends.
International commentators claiming that China’s US$20 billion investment this year in overseas ports is an expression of military muscle and expansionism miss the point. Investment in ports like Djibouti and Gwadar – along with the other 42 ports worldwide that Chinese companies have invested in – has much more to do with securing stable food and energy supplies than anything more sinister.