Uber V-Day Strike: Drivers Demand Fair Pay

   On Valentine's Day, thousands of drivers from Uber, Lyft, and DoorDash will go on strike across the United States. They are asking for better pay.

   A report from Gridwise showed that Uber drivers earned 17.1% less than Lyft drivers.

   Uber said its drivers in the U.S. make about $33 per hour when they are working, and most drivers are happy with their pay.

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The Surge of Annuity Sales and The Dip in Private Equity Returns

   Annuities, recognized for offering consumers the chance to secure a steady income through their retirement years, are now at the heart of a burgeoning demand for corporate debt and commercial mortgage bonds.

   Last year, annuity sales grew 23% reaching a peak of $385 billion. What's driving this growth? The allure of higher potential annual payouts. A direct benefit of rising interest rates.

   In contrast to this, the private equity sector's returns dropped to 11.2%, a fall from the 25% average over the past quarter-century.

   This downturn is attributed to challenging conditions in mergers and acquisitions (M&A) and initial public offerings (IPOs), which have significantly hindered private equity firms' exit strategies.

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BYD: Building China's Tesla Killer

   Starting with cars that were mocked for their appearance in 2007, BYD has now surged past Tesla in worldwide sales of fully electric cars.

   Despite not selling cars in the United States due to existing tariffs, BYD does supply buses there.

   BYD sales increased by about a million cars in each of the past two years, mainly in China. Now, BYD is expanding its reach, building assembly lines across the globe and increasing exports to Europe.

   BYD is based in Shenzhen, the heart of China's electronics industry. This strategic position has allowed BYD to leverage China's dominance in the electrical product market.

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AI's Trillion-Dollar Quest

   Sam Altman, CEO of the company that makes ChatGPT, is on a quest for a $5-$7 trillion to fuel a new tech initiative.

   This figure is roughly equivalent to the combined GDPs of Japan and the U.K., hinting at the monumental scale of ambition for AI advancement.

   The call for a multi-trillion dollar investment underlines the transformative potential of AI, not just in technological terms but as a catalyst for unprecedented economic expansion.

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