Baidu And Tesla Agree On Mapping Deal To Advance Full Self-Driving In China 🤝

Good morning. It's Monday, Apr. 29, and we're covering, Baidu And Tesla Agree On Mapping Deal To Advance Full Self-Driving In China, Elon Musk Visits China to Discuss Tesla's Full Self-Driving Rollout and Data Transfer, and much more. First time reading? Sign up to get this newsletter: Sign up here. 

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MARKETS

Cryptocurrency Prices by Market Cap

• The global cryptocurrency market cap today is $2.37 Trillion, a 0.12% decrease in the last 24 hours.

• The total crypto market volume over the last 24 hours is $79.35B, which makes a 4.34% decrease.

• The total volume in Defi is currently $5.87B, 7.42% of the total crypto market 24-hours.

• The volume of all stablecoins is now $74.77B, which is 94.23% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 53.51%, a decrease of 0.11% over the day.

BUSINESS & FINANCE

Baidu And Tesla Agree On Mapping Deal To Advance Full Self-Driving In China

Baidu, the country's leading internet search company, has struck a deal with Tesla to provide access to its mapping license. According to sources familiar with the matter, this agreement grants Tesla the necessary authorization for data collection on China's public roads, marking a crucial milestone for the implementation of Tesla's Full Self Driving (FSD) system in the region.

Takeaway: As part of the agreement, Baidu will not only grant Tesla access to its mapping license but also provide its advanced lane-level navigation system. With access to Baidu's robust mapping capabilities, Tesla can further refine its navigation algorithms and optimize its FSD functionalities to suit the unique characteristics of China's road infrastructure and driving conditions. ( Read Deeper )

The Rubrik IPO: A Lucrative Win for Greylock VC Asheem Chandna

In early 2015, Asheem Chandna embarked on a pivotal journey that would culminate in a lucrative payoff nearly a decade later. Driving up to Rubrik's office in Palo Alto, Chandna, a partner at Greylock, was eager to learn about the aspirations of the young company, still in its nascent stages. Chandna was captivated by the potential and foresaw the opportunity for Rubrik to emerge as a formidable player in the industry.

Takeaway: Greylock, holding a 13% stake in Rubrik, witnessed its investment soar in value, with Chandna's astute decision-making contributing to the firm's success. The Series B investment made in May 2015, priced at $2.45 per share, yielded significant returns for Greylock. ( Read Deeper )

TECHNOLOGY & SCIENCE

Elon Musk Visits China to Discuss Tesla's Full Self-Driving Rollout and Data Transfer

Tesla CEO Elon Musk made an unexpected visit to Beijing, China, where discussions reportedly centered around the rollout of Full Self-Driving (FSD) software and the authorization to transfer data overseas. Musk's visit, unannounced publicly, included a meeting with Premier Li Qiang, during which Li praised Tesla's development in China as a testament to successful U.S.-China economic cooperation.

Why it matters: Tesla's venture into China began with the establishment of its Shanghai plant in 2018, marking its first manufacturing facility outside the United States. Despite significant demand from Chinese consumers, Tesla has yet to introduce its FSD software in China, a move eagerly anticipated by customers in the country. ( Read Deeper )

The Changing Perception of Tech Industry Jobs: From Dream to Dilemma

Despite the eye-popping profits reported by tech giants like Alphabet and Microsoft, a shadow looms over the industry as layoffs continue to reverberate through its ranks. The allure of landing a coveted position at a Big Tech company, once synonymous with the "dream job" ideal, is transforming in the wake of ongoing workforce reductions. As of April 2024, more than 75,000 additional job losses have been reported.

Takeaway: The prevalence of mass layoffs in Big Tech has sowed seeds of doubt, prompting individuals to reassess the desirability of pursuing careers in the industry. ( Read Deeper )

AROUND DE WORLD & POLITICS

Biden Faces Uphill Battle as 2024 Election Looms Amidst Trump's Lingering Influence

As the 2024 presidential election approaches, President Joe Biden finds himself navigating a complex political landscape dominated by the shadow of his predecessor, former President Donald Trump. In his bid for reelection, Biden aims to cast the upcoming election as a referendum on Trump's tumultuous term in office. However, recent developments suggest that Trump's influence still holds sway, posing challenges for the Biden campaign.

Takeaway: Despite Biden's efforts to highlight the chaos of Trump's presidency, some voters are beginning to view Trump's tenure through a nostalgic lens, particularly regarding perceived economic stability. ( Read Deeper )

UK Accuses EU of Double Standards Again Migrant Return Dispute

The UK government has leveled accusations of double standards against the EU, citing Ireland's plans to send asylum seekers back to the UK while France refuses to accept Channel migrants in return. The dispute underscores the challenges of migrant returns and highlights the broader issue of immigration policy post-Brexit.

Why it matters: The dispute has also reignited discussions on post-Brexit migration policy, particularly regarding the absence of formal returns agreements between EU countries and the UK. While the Dublin Agreement governed migrant returns pre-Brexit, no successor agreement was reached during Brexit negotiations, leaving a legal void. ( Read deeper )

ENTERTAINMENT & SPORTS

Arne Slot's Addressing Key Challenges Upon Liverpool Arrival

Arne Slot's imminent appointment as Liverpool's manager brings a set of pressing challenges to the forefront, as observed during the team's recent performance against West Ham. Liverpool's season has seen a decline in the high-energy style synonymous with Klopp's tenure. Slot must reignite the team's vigor, possibly impacted by Klopp's impending departure, to ensure sustained competitiveness across multiple ( Read Deeper )

Taylor Swift's "The Tortured Poets Department" Makes Chart-Topping History

Taylor Swift's latest album, "The Tortured Poets Department," has made a resounding impact on the charts, breaking records and securing the top spot in the UK with unprecedented first-week sales. Surpassing her previous personal best, the 31-track double album sold 270,000 UK chart units within seven days, marking the highest first-week sales in seven years. Swift's achievement equals Madonna's record for the most UK number ones by a female artist, with both boasting 12 chart-topping albums in their careers. ( Read Deeper )

PODCAST(WHAT WE ARE LISTENING TO)

• Why Amazon’s Lightning Deals Work & How to Do the Same in Your Business. ( Listen )

EXTRA BREVITI

• The Japanese yen has experienced a significant strengthening against the US dollar, with its value hitting 160 yen against the dollar for the first time since 1990. ( Read More )

• In the race to succeed Mitch McConnell as Senate Republican leader, Senator John Cornyn is making strides in fundraising ( Read More )