Tag Archive for Elon Musk

Are You Ready for the Metaverse

Are You Ready for the MetaverseThe metaverse is a vision of what the tech bros (think biased stakeholders with a personal interest in the success of the metaverse Sam Bankman-Fried and Elon Musk) want the next iteration of the internet to be. Their vision of the metaverse is a collection of interconnected virtual worlds. The virtual worlds are shared immersive, persistent, 3D virtual spaces. In this metaverse, they believe humans can experience life in ways they could not in the physical world (of course for money). McKinsey predicts that the metaverse can generate up to $5 trillion by 2030.

CNN Russian dairy farmers gave cows VR goggles with hopes they would be happier and make better milk The Verge has a more cynical vision. The “metaverse” lets companies dodge negative baggage associated with social media. “As long as you can make technology seem fresh and new and cool, you can avoid regulation,” researcher Joan Donovan told The Washington Post. “You can run defense on that for several years before the government can catch up.

The Metaverse requires improvements

Despite the media hype that the metaverse has received, it still requires improvements to become a reality. A recent survey by network gear maker Ciena found that 71% of professionals can see the metaverse becoming part of existing work practices in the next two years. The study also found that businesses see problems getting into the metaverse. They stated “... unreliable network performance and associated costs were cited as the top concerns holding organizations back …” Daniel Pimental, from the University of Oregon, explains that advances in several technologies are needed to make the metaverse real. He explained, “… advancements in artificial intelligence – computer vision – blockchain technology, and increased bandwidth with 5G connectivity, will form the foundation…

It needs better networks

Loading spinnerOur current networks won’t work. They take too long to deliver data. Dan Rampton of Meta says the metaverse experience will need a customer latency of less than 20 milliseconds. Latency is the delay when moving data from one place to another. In the metaverse, latency is the total delay of signal between the user and the data center that is controlling the metaverse experience. Are you old enough to remember the dreaded “buffering” screen? PCMag found that the best 5G latency in 2022 ranged from 39 – 47 milliseconds from the major carriers. Doug Dawson put the 10-20 millisecond latency into context.

  • Transmission delay is the time required to get packets from a customer to be ready to route to the Internet. He cites some of his clients who say that the latency on their fiber network typically ranges between 4 and 8 milliseconds. Cable systems are slower and can approach the 20 ms limit. Older technologies like DSL have much larger latencies. Low-orbit satellite networks, will not be fast enough to meet the 20 ms goal established by Meta. Some wireless technologies also have low latency as long as there aren’t multiple hops between a customer and the core.
  • The Next Generation Mobile Networks Alliance says that 5G networks should offer 10ms latency in general.
  • Processing delay is the time required by the originating ISP to sort between all of the packets received from users and route each appropriately.
  • Propagation delay is due to the distance a signal travels. It takes a lot longer for a signal to travel from Tokyo to Baltimore than it takes to travel from Baltimore and Washington DC.
  • Queuing delays are the time required at the terminating end of the transmission. Since a metaverse connection is almost certainly going to be hosted at a data center, this is the time it takes to receive and appropriately route the signal to the right place in the data center.

Bach Seat - Latency

The Metaverse needs to be better

Forbes - Five Ways The Metaverse Is Impacting CorporationsThe metaverse’s virtual environments will require high-end computers, gaming consoles, and VR headsets. These can be expensive. In 2021, Bill Gates noted that most people don’t have VR goggles and motion capture gloves to accurately represent their expression, body language, and the quality of their voice. Harvard‘s Eileen McGivney writes:

The hardware that is currently used to access metaverse experiences, like VR headsets, are not affordable and are difficult to wear for many people from groups who are underrepresented in the technology industry.

People with mobility issues will find navigating a real-time 3D avatar in the metaverse frustrating. Ms. McGivney offers some examples like people with limited mobility in their hands who will struggle with controllers. Others might have difficulty if they wear glasses. Also, most current headsets can’t be worn over head coverings or many hairstyles, like religious headscarves and natural Black hairstyles.

The metaverse is expensive

Acquiring the hardware to get on the metaverse can be expensive. Head-mounted devices (HMDs), can range from a DIY Google Cardboard that requires the user to provide a mobile phone to the Meta Quest 2 – formally known as Oculus Quest 2 which costs $1500. Mid-range devices are pricey, the HTC Vive costs $569, and the Valve Index VR costs $999.

There is no search engine in the metaverse. There is no way to find out more about what the content creators are sending you. The cost of creating content for the metaverse will keep many from presenting information that the big content creators don’t want out there. The cost to develop a metaverse social app is estimated to cost $25,000-$400,000 according to the marketing firm Appinventiv.

Interoperability

There is no unified metaverse. Companies are developing their vision of the metaverse in a vacuum. Major players are developing their own technology for the metaverse.

Then there’s the need for interoperability. Interoperability will allow you to take virtual items like clothes or money from one platform to another. Many experts believe this is vital for the metaverse to work. Most VR software is based on a “virtual world generator,” which is from a specific VR headset vendor. This kit provides the basic programs, drivers, data, and graphic-rendering libraries. There will be legal and commercial challenges too, apart from figuring out who will act as the police in the metaverse.

Cybersickness

Cybersickness in Virtual Reality Versus Augmented Reality There are real-world concerns about physical and mental health in the metaverse. There are physical risks from tripping or falling while wearing metaverse headsets. But people are also reporting symptoms of “cybersickness.” Cybersickness is described as unpleasant symptoms caused by being in the metaverse. Symptoms include:

  • Nausea (sweating, difficulty concentrating, stomach awareness),
  • Oculomotor disturbance (headache, eyestrain, blurred vision), and
  • Disorientation (dizziness with open and closed eyes, vertigo).

These are caused by the delay between actual head movements and the generated image.

Mental health risks 

There are also mental health risks. Because VR provides a much more realistic experience than watching something on a computer screen, the emotional and mental impacts are more intense. Plus, all the downsides of the current internet like violent pornography, the black market, sex trafficking, and criminal activities are magnified in VR.  Finally, people who are immersed in digital worlds often are doing so at the expense of exercising, breathing fresh air, and socializing physically.

The metaverse must be private

The metaverse must be privateDespite the promise of the metaverse, there remain risks. As Charlie Bell, Microsoft’s executive vice president of security pointed out in a recent blog post: “The problems of yesterday’s and today’s internet—impersonation, attempts to steal credentials, social engineering, nation-state espionage, inevitable vulnerabilities—will be with us in the metaverse.” Harvard’s McGivney concurs, “Many of these technologies are also designed in a commercial environment that prioritizes profit over things like data privacy

The metaverse is being developed by corporations whose business
models rely on collecting an increasingly detailed and wide range of data on every user. The technologies can track people’s
movements (e.g., movement, eye tracking) and emotions. The data collection will create a “motion signature.” A motion signature will connect some tracking data to a name, for example, now tracking data in many other places are attached to the same name. This increases the effectiveness of threats based on the inference of protected health information from tracking data.

Is that your boss

Microsoft warns that in the metaverse, fraud, and phishing attacks targeting your identity could come from a familiar face – literally. A metaverse attacker can create an avatar who impersonates a coworker, or a teller in a virtual bank lobby asking for your information. It could be an impersonation of your CEO inviting you to a meeting in a malicious virtual conference room.

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TNero connected to the Matrixhe dystopian vision of a future where we are constantly connected to the metaverse to feel good is looming. Elon Musk’s implanted brain-machine interface Neuralink, can link the metaverse directly to a user’s mind which can cause the release of dopamine. Research shows that the brain may eventually begin to rely on that experience to release dopamine and feel good. As a result, people can become addicted to the metaverse to feel “normal.”

I agree with Scientific American. Given the world’s unpredictability, I have a hard time ruling out the possibility that an unholy alliance of big tech and the military will foist an implant-enabled metaverse on us. After all, as the real world gets scarier, the metaverse might become more and more appealing. In our frightening future, the metaverse, not religion, might serve as the opiate of the masses.

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Ralph Bach has been in IT long enough to know better and has blogged from his Bach Seat about IT, careers, and anything else that catches his attention since 2005. You can follow him on LinkedInFacebook, and Twitter. Email the Bach Seat here.

What to do with Your Twitter Account

What to do with Your Twitter AccountThe world’s richest man has control of Twitter (TWTR). Sure, all social media platforms are outlets for doomscrolling, bullying and misinformation. But in the short time Elon Musk has been the “Chief Twit,” some events have take place on the platform that raise concerns about the “hellscape” the new Twitter could become. Some examples include:

Mr. Musk has grand ambitions to morph Twitter into some vaguely defined metaverse hole that could collect more personal info. He tweeted in October, “Buying Twitter is an accelerant to creating X, the everything app.” It is a good time to review your Twitter account. USA Today published a handy guide to getting as much control as possible over your account.

How to secure your Twitter account

You should have already secured you Twitter account. Make sure you are using a unique and complex password. Set up two-factor authentication. Both steps make it harder to get hacked. It’s also a good time to back up your tweets. You should backup the photos, DMs, and other 280 character snippets of life you might want to remember later. It’s easy to do, although time-consuming, to download your Twitter data.

Don’t feed the trolls

There are plenty of people on Twitter who want nothing more than to spew hate and make everyone else’s day miserable. Blocking people might seem like the best way to get those trolls to disappear, but the author says there’s a wrinkle.

When you block someone – they won’t be able to send you tweets or tag you in posts, and you’ll never see them again unless you decide to unblock them in the future. The wrinkle is that they’ll immediately know that you’ve blocked them, and if they’re bent on harassing you, they can easily make a new account and start the cycle over again.

The article suggests that muting a user is sometimes even more effective. By selecting “Mute @User” in the menu on their tweet  you’ll never see their messages again. They won’t know that you’ve muted them. They can keep on being jerks, and you can move on with your day.

Spammers, scammers, and bots, oh my!

Many accounts on Twitter aren’t real. Bot accounts seek out people to harass, advertise to, or scam through sketchy tweets and messages. To combat bots, go to Twitter’s Settings > Notifications > Filters and make sure “Quality Filter” is turned on.

It’s also a good idea to block direct messages from anyone who doesn’t follow you. Do this by heading into Settings > Privacy and Safety > Direct Messages and ensuring that the “Allow message requests from everyone” is turned off. Also, enable “Filter low-quality messages” to protect against spam.

You can also lock down your tweets to make sure only people who follow you see them. To do this, go into your Settings > Privacy and Safety> Audience and Tagging, then select Protect Your Tweets.

Filter your feed

TwitterIf you plan to continue using Twitter as you always have but don’t want to hear about certain topics, it’s easy to filter those topics by blocking words and phrases. Go to Settings > Privacy and Safety > Mute and Block and then click “Muted Words” to begin adding words to your mute list. If someone you follow tweets or retweets a message that includes that word, the entire tweet will be blocked from your timeline.

So, for example, if you’re tired of hearing about Donald Trump add “Donald Trump,” “Donald,” and “Trump” to the list. That will cover all the uses of his name and dramatically cut down the number of tweets you see about the big lie. You can do this with any news story, topic, or event you’re just fed up with.

If you are going to stay on Elon Musk’s $44 Billion dollar play thing, you should periodically clean up your tweets. USA Today recommends Semiphemeral to automatically purge you tweets.

How to delete Twitter on Android

If Mr. Musk’s antics are too much and you are going to quit Twitter, there a several steps to take before you delete the app from your phone. First, make sure you’ve downloaded a copy of your data first. You must request a copy of your files before deactivating your account.

Be sure to revoke any third-party access to Twitter you have granted. Otherwise your account count could magically gets reactivated by a third-arty app.

In order to delete your Twitter account, you have to deactivate it first. To deactivate you Twitter account, login to your account from Twitter App and go to Settings and Privacy.

  1. Click Account.deactivate you Twitter account
  2. Now, click Deactivate your account.deactivate you Twitter account 2
  3. Click Deactivate.deactivate you Twitter account 3
  4. Enter your password to confirm your identity.

Now you can delete the account. To delete your Twitter account:

  1. Tap on the menu icon or profile photo in the upper left-hand corner and select Settings and Privacy from the dropdown.delete your Twitter account
  2. Tap on the Your account tab.delete your Twitter account 2
  3. Scroll down until you find the Deactivate Account tab and tap on it.delete your Twitter account 3
  4. Read the information provided and then scroll down and tap on Deactivate.delete your Twitter account 4
  5. You will have to confirm your password to complete the process.delete your Twitter account 5
  6. The app will once again ask you to confirm that you want to deactivate your account. Twitter will then confirm your decision.

If you don’t access your account for 30 days it will be permanently deleted from Twitter.

Some things to remember

Your Twitter information might still appear on search engines. You have to follow up with them to have that data removed. Also, once your account is deleted, someone else can sign up using your name.

 

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Ralph Bach has been in IT long enough to know better and has blogged from his Bach Seat about IT, careers, and anything else that catches his attention since 2005. You can follow him on LinkedInFacebook, and Twitter. Email the Bach Seat here.

 

How to Buy a Non-Fungible Token

How to Buy a Non-Fungible TokenCNN reports that a new record price was paid for bottle of Champagne. The bubbly sold at auction for $2.5 million, making it the most expensive bottle of wine ever sold. The record setting magnum of Chateau Avenue Foch, 2017, comes with a bonus. For $2.6 million the owners also got a single non-fungible token (NFT). The NFT is for the rights to an image of “Bored Ape Mutant” and other cartoon figures that decorate the bottle.

What is a non-fungible token

What is a non-fungible tokenNon-fungible tokens (NFTs) are the latest cryptocurrency phenomenon to go mainstream. NFTs claim to transform digital works of art and other collectibles into one-of-a-kind, verifiable assets that can be traded on the blockchain. Sales of NFTs have been driven by celebrity endorsements, Online characeters like Elon Musk and Lindsay Lohan have pushed the NFT market to $41 billion in sales to 2021.

Non-fungible tokens are cryptographic assets on a blockchain with unique identification codes and metadata. These traits distinguish them from each other. Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency. This differs from fungible tokens like cryptocurrencies, which are identical to each other and, can serve as a medium for commercial transactions.

How to Buy NFTs

How to Buy NFTsTo get into the highly speculative non-fungible token market, you will need to do some work before you can own an NFT.

  1. Set up a digital wallet that allows you to store NFTs and cryptocurrencies.
    2. Purchase some cryptocurrency. Eth, on the Ethereum network is the most popular cryptocurrency to buy NFTs. You can buy cryptocurrency using a credit card on platforms like Coinbase or PayPal.
    3. Move your cryptocurrency from the exchange to your wallet.
    3. Start shopping at non-fungible token marketplaces. NFT marketplaces are platforms that host thousands of non-fungible tokens creators and collectors.

NFT marketplaces

Foundation is a community-curated marketplace. It requires non-fungible token creators to be invited by other creators who are already part of the platform. 

Nifty Gateway is an non-fungible token marketplace with plans “to make NFTs accessible to everyone.” They work with big-name brands, athletes, and creators to create limited-edition digital art collections exclusive to the platform.

OpenSea.io is one of the first NFT marketplaces. It bills itself as  the “largest NFT marketplace.”

Rarible is a community-owned non-fungible token marketplace.  The platform focuses on art assets. It uses the RARI cryptocurrency issued on the platform.

The high profile NFT craze is attracting scammers. Some may try to sell you an non-fungible token when it’s not. Others may claim they have the right to sell an NFT they don’t own and didn’t create.

You have been warned.


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CNN reports that the Champagne was bought by Italian  cryptocurrency speculators. Despite their crypto profile, the purchase was made in dollars due to the recent cryptocurrency implosion. The price of a Bored Ape Yacht Club token has fallen. The price fell from an all-time high in April 2022 of 153 eth ($163,000), to 75 ethereum in May 2022.

Remember that the value of a non-fungible token is based entirely on what someone else is willing to pay for it. Therefore, demand will drive the price rather than fundamental, technical or economic indicators, which drive stock prices and investor demand.

Even if you buy a non-fungible token winner worth millions, Forbes warns that NFTs are subject to capital gains taxes. NFTs are taxable just like when you sell stocks at a profit. Since they’re considered collectibles, they may not receive the preferential long-term capital gains rates stocks do and may even be taxed at a higher collectibles tax rate. 

The cryptocurrencies used to purchase the NFT may also be taxed if they’ve increased in value since you bought them. This means you may want to check in with a tax professional when considering adding NFTs to your portfolio.

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Ralph Bach has been in IT long enough to know better and has blogged from his Bach Seat about IT, careers, and anything else that catches his attention since 2005. You can follow him on LinkedInFacebook, and Twitter. Email the Bach Seat here.

Cryptocurrency Implosion

Cryptocurrency ImplosionThe cryptocurrency world was rocked last week. The cryptocurrency market lost $500 Billion (Yes with a B). The popular cryptocurrency Terra Luna lost 99% of its value, dragging down a so-called “stablecoin” with it. The “stablecoin” cryptocurrency TerraUSD, (UST) fell from a high of $118.00 (in April 2022), to $0.09 on Thursday (05/12/2022).

maintained by a complex mechanismTerraUSD is an algorithmic stablecoin developed by Terraform Labs out of Singapore. An algorithmic stablecoin means it does not have reserves (fiat currencies or other highly liquid assets). Instead, its value was supposed to be maintained by a complex mechanism. Its value comes from swapping TerraUSD coins with a free-floating cryptocurrency called Luna to control supply.

What is a stablecoin

The goal of a stablecoin is to offer investors a safe harbor to avoid the fluctuations in other cryptocurrencies like Bitcoin and Ether. They are supposed to hold a constant value, no matter market conditions. Recently, stablecoins have  been used in international trade and as a way to avoid capital controls, according to experts. The theory behind stablecoins is try to ensure they remain in parity (peg) with certain assets. The assets can be the U.S. dollar – with one token equaling $1, for example. However that did not work for TerraUSD (UST),

stablecoins try to remain in parity (peg) with assets like the U.S. dollarThe core theory to maintain its peg is as old as the dismal science. They create supply and demand. Whenever the price of UST falls below $1, traders are incentivized to “burn” their UST tokens—taking them out of circulation—in exchange for Luna. The lower supply of UST, in theory, increases the stablecoin’s price back to $1 and maintains the peg. UST was also partly collateralized by billions of dollars’ worth of bitcoin (not highly liquid).

The “algorithmic stablecoin” tanked the broader cryptocurrency market when it fell well below its theoretically fixed peg of 1 to 1 to the U.S. dollar. After losing its peg, UST traded as low as 13 cents on Friday. Luna, its sister cryptocurrency, became nearly worthless overnight after trading for $80 a week earlier. As investors saw the stablecoin dropping, they rushed to withdraw their money (an online bank run). Major crypto exchanges ultimately delisted both Luna and UST to protect consumers.

The collapse sent a tsunami thru the cryptocurrency marketsThe collapse sent a tsunami thru the cryptocurrency markets and spooked investors. Bank of America Research says it was the worst implosion since May 2021. It measures up to both the 2008 financial crisis and the dotcom crash in 2000. The entire cryptocurrency market now has a market capitalization of less than half of the $2.9 trillion it was worth in November 2021.

Bitcoin, which makes up around 44% of the crypto market, price dropped to a 90-day low of $26,350 per bitcoin. As UST fell BTC lost more than 56% from its November high of $68,990.90.

Coinbase logoCoinbase (COIN), the only major publicly traded cryptocurrency exchange, also fanned the fire. In midst of the cryptocurrency implosion, COIN warned customers that their cryptocurrency holdings could be at risk if Coinbase goes bankrupt. CEO Brian Armstrong said Coinbase issued the warning in order to comply with updated SEC guidance.

Ethereum (ETH), the second-largest cryptocurrency, dropped to a third from a November 2021 high of $4,812.09 to $1,748.30 during the UST meltdown.

Smaller cryptocurrencies were not immune to the cryptocurerncy implosion.

  • Monero (XMR) lost a third of its value during the implosion. It fell to a low of $119.30 from from a high of $457.15 set earlier in the week.
  • DogecoinDogecoin (DOGE) Elon Musk’s pet cryptocurrency fell from a high of $0.69 per coin to a low of $0.08 per coin. During the cryptocurrency meltdown It lost 88% of its value.
  • SHIBA INU (SHIB) fell to a low of $0.00001079/coin. It’s previous high set in May 2021 was $0.00008/coin.It lost nearly 93% of its record value.

So what happened?

crypto moves much more like a tech stockCryptocurrencies were once viewed as newest hedge against interest rates and inflation. However experience has proved they are far more correlated to overall markets than early adopters hoped. Crypto proponents tell us that cryptocurrencies are an uncorrelated assets. In other words, it should float freely, divorced from the rest of the market. But that is not true. Because crypto moves much more like a tech stock than it does an inflation hedge. When tech stocks tank, so do digital assets. Garrick Hileman research chief at Blockchain.com and visiting fellow at the London School of Economics said, “We see more overlap in ownership than we ever have, this kind of convergence between Wall Street and crypto.

Faulty cryptocurrency systems

The reason TerraUSD in particular went down so much is that the Terra blockchain network automatically shut down. Terraform Labs explained, the price of Luna tokens had dropped so low that it was unable to “prevent governance attacks.” That shutdown for a time prevented transactions in the algorithmic stablecoin. The company tweeted that the move was necessary to allow it “come up with a plan to reconstitute it.” Additionally, the company’s chat board posted a notice saying it had been “locked down so new people can’t come in and spread fear, uncertainty, doubt and misinformation.

Elon Musk flip flops on cryptocurrencies

Elon Musk flip flops on cryptocurrenciesThe cryptocurrency implosion follows a recent crash brought on by social media influencers. Elon Musk and Tesla made a U-turn on accepting Bitcoin as payment for its products.

Telsa bought $1.5b of Bitcoin shares, which sent the market price of both the crypto and TSLA soaring. The decision by Tesla to not accept cryptocurrency was seen by some as a ding on the credibility of cryptocurrency to compete against physical currencies. Another problem is Elon Musk’s support of Dogecoin. Dogecoin is so unstable it was off 88% from its high during the cryptocurrency implosion.

China outlaws cryptocurrency

China outlaws cryptocurrencyChina continues clamping down on non-Chinese cryptocurrencies. Recently the government blocked initial coin offerings, and warned against speculative trading. Additionally, China ordered Bitcoin mining in its Sichuan province to shut down completely and told banks to stop supporting crypto transactions, in a latest wave of restrictions on cryptos.

Additionally the country’s central bank, People’s Bank of China, has effectively banned digital coins after announcing all transactions of cryptocurrencies are illegal. This forced Chinese crypto miners to move to other jurisdictions that were more miner-friendly driving up coin costs.

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As we have seen a bad-timing and a number of missteps laid on top of a tumbling stock markets and war in the Ukraine caused many users to lose faith in UST and make an old fashioned bank-run on the cybercurrecny.

The Federal Reserve warned that stablecoins are vulnerable to investor runs because they are backed by assets that can lose value or become illiquid in times of market stress. A run on the stablecoin could therefore spill over into the traditional financial system by creating stress on these underlying assets, it said and we saw.

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Ralph Bach has been in IT long enough to know better and has blogged from his Bach Seat about IT, careers, and anything else that catches his attention since 2005. You can follow him on LinkedInFacebook, and Twitter. Email the Bach Seat here.

FAATMAN Stocks Keeps Getting Fatter

FAATMAN Keeps Getting FatterThanks largely to the COVID-19 pandemic that pushed even more activity online the FAATMAN companies have a collective market cap of $8.3 trillion. During that time the billionaire CEO’s of these companies became ever wealthier The FAATMAN companies are tech titans Facebook (FB), Alphabet (GOOG), Amazon (AMZN), Tesla (TSLA), Microsoft (MSFT), Apple (AAPL), and Netflix (NFLX). The FAATMAN companies generate ridiculous amounts of revenue rate per minute.

CompanyRevenue Per Minute
Amazon$ 955,517
Apple$ 848,090
Alphabet (Google)$ 433,014
Microsoft$ 327,823
Facebook$ 213,628
Tesla$ 81,766
Netflix$ 50,566
FAATMAN Revenue Per Minute hat tip to www.visualcapitalist.com

FAATMAN companies

Facebook‘s most recent quarter was a company best, generating almost $214,000 per minute or $27 billion in revenue. It hosted an average of 2.8 billion monthly-active-users on it’s platform. Over 1 of every 3 humans on Earth can be manipulated by Facebook.

Google logoAlphabet, the parent company of Google has the third largest market cap, made over $433,000 per minute. That means that Google can a  Rolls Royce Phantom is less that 2 minutes. They finished 2020 with $182 billion in revenues. Furthermore, almost 4 billion Google searches occur every single day, making it the most popular website in the world. With the revenue of  $433,000 per minute Google can purchase a Rolls Royce Phantom is less that 2 minutes.

Amazon most revenue per minute

Amazon made nearly 1 million dollars per minute. Most of this was made in the U.S. They also do very well around the world. For example, in 2020 they generated $29 billion in Germany, and $20 billion in revenues in Japan.

At this income rate Amazon can pay to send 2 people per minute on a suborbital space trip on Jeff BezosBlue Origin New Shepard rocket ship. Seats to the edge of space typically cost $500,000.

Tesla logoTesla‘s almost $82,000 of revenue per minute is being driven by the growing Electric Vehicle (EV) market. The home of Tesla and SpaceX joined the S&P 500, and along the way has made Elon Musk the richest person in the world. This kind of revenue per minute means Tesla can buy nearly two Tesla Model 3’s per minute. How we know where all their sales are coming from.

Microsoft made $327,823 per minute, making it the second largest tech titan with a market cap of $1.75 trillion. Microsoft earned over $168 billion in 2021. Office products and cloud services accounted for close to $40 billion U.S. dollars. Server products and cloud services accounted for the largest share of this revenue, with around $52.6 billion. 

In one minute Microsoft makes enough to buy a typical U.S. home. Zillow says the typical home value in the United States is $325,677 and Microsoft makes $327,823 a minute.

Apple has the largest market cap

Apple logoApple is currently the most valuable company in the world with a market cap of around $2.6 trillion. In the first quarter of financial year 2022, Apple’s revenue reached $123.95 billion. Apple takes in over S848,000 per minute. Apple is no longer just the iPhone company. in Q1 2022 iPhone brought in $71.6 billion. They have diversified their income. In Q1 of 2021, Apple’s services segment of the business made $19.5 billion in revenue.Apple Wearable, Home and Accessories made $14.7 billion in revenue. Hardware (Mac and iPad) collectively made over 18.2 billion in 2022 Q1.

Netflix has benefited from the pandemic   The streaming giant made S50,566 per minute. They wrapped up 2020 203 million subscribers. Netflix is the worst performing FAATMAN member and still made $50,566 per minute,  while the average American family income  for FY 2021 is $79,900. Netflix brings in the average American household income in less than 2 minutes.

FAATMAN Outlook

To put these numbers into perspective, the FAATMAN companies make more than the GDP of the U.K., India and France combined.

These insane incomes fueled the billionaire space race. Where billionaires spent billions to be the first into space

While the current value may appear bloated, no one can quite rule out FAATMAN getting fatter.

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Ralph Bach has been in IT long enough to know better and has blogged from his Bach Seat about IT, careers, and anything else that catches his attention since 2005. You can follow him on LinkedInFacebook, and Twitter. Email the Bach Seat here.