Tesla's $56 Billion Problem

Norway’s $1.7 trillion sovereign wealth fund (Tesla’s eighth-largest shareholder) plans to vote against Elon Musk’s $56 billion pay deal at Tesla’s annual meeting.

A Delaware judge already voided the 2018 pay deal, stating it was unfair to shareholders. Tesla seeks to restore Musk's package, but faces opposition from advisory firms ISS and Glass Lewis, who also recommend rejecting it.

Musk threatened to build products outside Tesla if he can’t increase his equity holdings, which the pay deal facilitates.

Shareholders will vote on Musk’s compensation and other issues on June 13.

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The Rise of 'Zombie' Companies: Debt Crisis Looms

"Zombie" companies are businesses that barely scrape by, unable to pay even the interest on their loans. A study found 7,000 such companies worldwide, including 2,000 in the US.

These zombies, like Bed Bath & Beyond, JetBlue, and Manchester United, face looming loan deadlines. They piled on cheap debt for years. Now, high-interest rates are squeezing them.

Zombies tend not to reinvest in growth. Instead, they buy back stock, draining cash. This strategy led to layoffs and store closings when revenues fall.

The number of bankruptcies in the US has hit a 14-year high. And it could get worse if interest rates remain high.

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New York Times Hacked to the Gills

An anonymous 4chan user leaked 270GB of internal data from The New York Times.

This trove includes source code, detailed blueprints, and various web assets. The leak contains 5,000 repositories and 3.6 million files.

Files listed by the anonymous user span everything from the Wordle game to email marketing materials. Most of the data appears unencrypted.

If true, this breach could expose personal information and proprietary code. This could lead to phishing attacks and other security issues.

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FSD was Rewritten from Scratch

Traditionally, Tesla’s Full Self-Driving (FSD) relied on rule-based algorithms. Though effective, it failed to address all real-world scenarios.

Tesla revamped its self-driving software, launching version v12.3. This update abandons old code, introducing a neural network-based approach.

The new system learns from large video data sets, continuously adapting to diverse driving environments promising improvements without manual updates.

Reviews are mixed. CEO Michael Dell hailed its human-like performance, but some users found it less polished.

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