Tag Archive for Elon Musk

How Long It Takes Elon Musk to Make Your Salary

How Long It Takes Elon Musk to Make Your SalaryElon Musk is the CEO of the electric car company Tesla (TSLA) and space tourism company SpaceX. He is also notorious for his Tweets, pimping cryptocurrencies, fathering a human baby named X Æ A-Xii, and hosting Saturday Night Live. But there is one thing he is even more known for.

Elon Musk's wealth exploded over 600% during the COVID pandemic.Elon Musk is wealthy. His wealth exploded over 600% during the COVID pandemic. According to Forbes, his net worth in 2020 was $24.6 billion. That was good enough to be placed number 31 on Forbes’s list of billionaires. In 2021 Bloomberg called the SpaceX CEO the richest person on earth with a personal wealth of $266 Billion. Outpacing Amazon CEO Jeff Bezos by $66 Billion.

Elon Musk wealth calculator

To understand how much money that is, click on the UK-based automobile leasing company Select Car Leasing web page. They have built an Elon Musk wealth calculator. As soon as you open the webpage, the number on Musk’s earnings ticker begins climbing. You can see how much money he makes in the time you spend on the page.

how long it takes for wlon Musk to earn what you do in a yearEven more depressing is the page can calculate exactly how long it takes for Musk to earn what you do in a year. Scroll to the bottom of the page and enter your annual salary. It takes Musk less than 3 minutes to make the average American household income of $67,521. Like Mental Floss says, there’s a good chance the answer will prompt an emotion, be it inspiration or infuriation.

Stay safe out there!

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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.

Will Dogecoin Make You Wealthy

The cryptocurrency world is chaos. There are over 4,000 different cryptocurrencies. They go up and down. One day Bitcoin is down 50%, and Dogecoin goes up after a tweet. Dogecoin is the trendy cryptocurrency de jour. Where did it come from?

Dogecoin is digital moneyCNET explains that Dogecoin is a cryptocurrency, a form of digital money that, much like bitcoin, enables peer-to-peer transactions across a decentralized network, based on a meme. There are differences in cryptocurrencies. Bitcoin is the original blockchain proof of concept. True believers say Bitcoin can transform how money works in the 21st century. Dogecoin is a digital coin with a picture of a dog on it.

Dogecoin’s most well-known supporters are multi-billionaires Mark Cuban and Elon Musk. Mr. Musk, the CEO of Tesla Inc. (TSLA) and SpaceX has used his tweets to his 50 million followers to send the cryptocurrency surging. In April, when Mr. Musk tweeted “Doge Barking at the moon” and shared a photo of a painting by Spanish artist Joan Miró, and the cryptocurrency took off. Now Mr. Musk is at it again. He hosted Saturday Night Live and plugged Dogecoin. Most recently he tweeted about taking dogecoin payments for a new Tesla and SpaceX, just revealed it will allow a customer launching a payload on an upcoming lunar mission to pay in dogecoin.

Where did Dogecoin come from?

Dogecoin valueDogecoin has become one of the buzziest cryptocurrencies. Its price has surged more than 10,000% so far in 2021. Dogecoin has a murky history at best. Its first exchange is wrapped up in charges of fraud, extortion, and assault. While Dogecoin has gotten all the attention, the original cybercurrency – Bitcoin continues. But the two cryptocurrencies have major differences. There are three important distinctions between dogecoin and bitcoin, according to CNBC.

Dogecoin is inflationary

Meltem Demirors, CoinShares chief strategy officer calls Dogecoin inflationary. She told CNBC,

Dogecoin is inflationary…more doge is printed every minute of every day, giving doge a potentially infinite supply … every minute of every day, 10,000 more dogecoin are issued. That equates to nearly 15 million doge per day or over 5 billion doge per year.

An unlimited cap on supply can negatively impact value over time.

On the other hand, Bitcoin has a finite supply of 21 million. James Ledbetter, editor of fintech newsletter FIN told CNBC the finite quantity creates a “built-in scarcity … akin to the way that gold or diamonds are valuable because they are scarce.” He explained that because Bitcoin is limited, as demand increases, the price of bitcoin should also increase

Dogecoin was ‘created for sillies’

original image of the doge memeAnother difference between dogecoin and bitcoin is the reason each was created. Bitcoin launched in 2009 to become a decentralized digital currency. Bitcoin supporters see the cryptocurrency as digital gold and a hedge against inflation. Trust in bitcoin has grown with investors during its 12-year run, which led to the cryptocurrency selling for record-high prices this year.

In comparison, dogecoin was created as a joke. In 2013, IBM software engineer Billy Markus and Adobe developer Jackson Palmer, based the cryptocurrency on the “Doge” meme. The  meme involves the inner monologue of a shibu inu dog expressed in comic sans with broken modifiers: “so scare,” “much noble,” “wow.”  In a Reddit post, Mr. Markus explained the cryptocurrency  was “created for sillies.”  He continues. “… I threw it together, without any expectation or plan. It took about 3 hours to make.” As a result, dogecoin lacks technical development and isn’t as secure as bitcoin.

Dogecoin is missing an ecosystem

Dogecoin is missing an ecosystemBitcoin has an extensive and well-funded ecosystem that does not exist with dogecoin. Mike Novogratz, CEO of Galaxy Digital, told CNBC that bitcoin is “a well-thought-out, well-distributed store of value that’s lasted for 12 years and is growing in adoption, where dogecoin literally has two guys that own 30% of the entire supply.” He continues;

… there’s no developers on it, there’s no institutions coming in. But it’s got this moniker of the people’s coin right now … It’s a little bit of a middle finger to the system. I think it’s dangerous because once that enthusiasm dies, if it dies, you could have a long way down…

A find-and-replace job

Dogecoin was a find-and-replace jobCNET reports that most of dogecoin is a copy and replace job from the bitcoin. Most of the development was Ctrl+F ‘Bitcoin,’ replace with ‘Dogecoin.’ Mr. Markus says, “…from ‘that seems like it’s funny’ to actually doing it, took about three hours. It’s almost trivial to create a new cryptocurrency.

Mr. Markus admits he knew enough to change a few core elements for Dogecoin. For example, Mr. Markus created 100 billion dogecoins (as opposed to bitcoin’s 21 million) and made them easier to mine. (Dogecoin is already close to being mined out, while bitcoin’s final coin will be mined in 2140.) He changed the font (to comic sans of course) and changed every mention of the word ‘mine’ to ‘dig’ (because dogs don’t mine, they dig…).

Bitcoin vs. Dogecoin

BitcoinDogecoin
SymbolBTCDOGE
Year developed20092013
Initial purposeCreated to be used as a currency or store of valueCreated as a joke spoof of Bitcoin and the doge meme
Approximate market capitalization*$1.02 trillion$41.4 billion
Number of coins*18.69 million129.24 billion
Maximum number of coins21 millionUnlimited
Bankrate.com

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While it may be nice to buy a Slim Jim with a dogecoin or go to a basketball game or ship things to the moon – there is no real reason to buy into dogecoin. 

In Economics terms – Is Dogecoin (or any cryptocurrency) liquid? How easy is it to buy a gallon of gas, your dry cleaning or a Slurpee with the cryptocurrency de jour? 

Until the day when it is easy to convert a dogecoin to something I want when I want it – dogecoin is nothing more than a speculative play for redddiers and billionaires – who can afford to lose their investments.

Stay safe out there!

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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.

COVID Corporate Welfare

05/03/2020 – SBA said it discovered a data breach on the COVID relief application portal for Economic Injury Disaster Loans. The breach may have disclosed personal information — including Social Security numbers, income amounts, names, addresses, and contact information. Politico reports the breach affected 7,900 applicants for the EIDL program.

04/22/2020 – CNBC is reporting that 70% of the Paycheck Protection Program emergency funding has been claimed by large, publicly traded companies. Data from Morgan Stanley found that at least $243.4 million of the $349 billion available went to publicly traded companies.

The bankrupt PPP was supposed to help America’s small businesses stay afloat and prevent mass layoffs during the COVID lockdown. Morgan Stanley’s data shows that 15 firms worth over $100M got government funds. Among the wealthy firms claiming support are oil services company DMC Global. They got $6.7M. Biotechnology company Wave Life Sciences got $7.2 M. Fiesta Restaurant Group whose 329 restaurants are located in the Caribbean, Central America, South America, and the U.S got $10M.

COVID Corporate Welfare

I was hoping that we would never need the Recession topic on the Bach Seat again. But here we go again – down the economic commode abetted by bad policy and greed. The COVID-19 virus has wiped out more jobs in a few weeks than Wall Street erased in 18 months. Politico calculated that the jobs lost due to COVID in three weeks are larger than those lost during the 2007-2009 “Great Recession.” They also cite economic forecasts that predict unemployment will exceed its historic 25% peak during the Great Depression.

As an attempt to right the economic ship – Trump and his fellow travelers have put in place a $2 Trillions dollarCares Act.” The Cares Act has turned out to be is a giant middle finger to the working people. It is really an enormous corporate welfare bailout to the wealthiest corporations in the U.S. These greedy firms cannot manage their finances as well as the middle-class Americans they are laying off. Businesses are lining up for a government COVID bailout. Here are a few examples.

Fast Company reports that the hotel industry has met with the chief inn-keeper. They want $150 billion for hotel loan payments and employee layoff packages. 

Disney, Universal, and Expedia through their lobbyist U.S. Travel Association, requested $100 billion in a meeting with the Trumpster.

The LA Times is reporting that hedge funds, firms that control $80.5 Billion are claiming to be small businesses, They are seeking a bailout from the broken Paycheck Protection Program.

The bumbling aerospace giant Boeing wants a $60 billion bailout. Boeing’s problems started a year ago before COVID hit with the 737 MAX tragedies. The corporation paid out $65 billion in stock buybacks and dividends over the last ten years. It is highly politically connected.

Airlines for America wants $50 billion. The groups members include American Airlines, United Airlines, Delta Air Lines, Southwest Airlines, and Alaska Airlines, has  That is in spite of spending 96% of their free cash flow in the past decade on buying back their own shares of stock. The facts are that airline bankruptcy presents no significant risk to the economy as a whole. Airlines have safely flown through bankruptcy in the past.

Airports: The, Airports Council International-North America and the American Association of Airport Executives requested $10 billion from Congress, to be directed to U.S. airports for coronavirus relief.

Two of the richest people in the world want bailouts. Elon Musk of SpaceX and Jeff Bezos, the world’s richest man want$5 billion in grants or loans to keep commercial space company employees on the job and launch facilities open.” They also want the IRS to give them cash for R&D tax credits.  

The NYC Metropolitan Transportation Authority wants $4 billion in assistance for the New York City subway.

Everyone wants COVID bailout moneyEveryone wants COVID bailout money. CNBC reported 

The New York Times reported that Adidas is seeking a provision allowing people to use pretax money to pay for gym memberships to gyms that are closed.

The Washington Post reported that Trump was “strongly considering” a federal bailout for the fracking industry. One politically connected shale oil company, Continental Resources, founded by Harold Hamm, a Trump supporter  lost more than half of its market value

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One that I can agree on. The National Restaurant Association wants a $455 billion aid package. Fast Company reports the COVID lockdown could lead to the loss of 5 to 7 million jobs.

Do republicans want pandemics to continue?It is arguable that the Republicans want pandemics to continue so they can keep feeding the rich with corporate welfare. Trumpies 2021 budget cuts funding for the CDC by $1.2 billion (15%) and eliminates $35 million of the Infectious Diseases Rapid Response Reserve Fund. 

Why use taxpayer money to help out companies that goose their stock price rather than saving the funds for a rainy day?

As Judge Leo Strine Jr., former chief justice of the Delaware Supreme Court wrote for the NYT – families are encouraged to put aside a reserve to pay their mortgages and bills and to feed themselves in case of an emergency. Why don’t corporations do the same? After a 10-year economic expansion that led to record increases in earnings, plus huge corporate tax relief, American corporations should have had substantial cash reserves to sustain them during a short period without revenue. But many did not and lived paycheck to paycheck.

Stay safe out there!

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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.

Tesla Teams with Hot Wheels for RC Toy Cybertruck

Tesla Teams with Hot Wheels for RC Toy CybertruckTesla’s electric pickup – Cybertruck will cost you nearly $40,000 when it goes on sale. Thankfully, Hot Wheels has teamed with Tesla to make a radio-controlled Cybertruck for the rest of us. The Mattel (MAT) versions include a deluxe and a smaller HotWheels version.

Tesla CybertruckThe deluxe Cybertruck version is a limited-edition 1:10 scale model. This model features, functioning headlights and taillights, a tonneau cover, and a telescopic tailgate that fold out as a loading ramp. It has a pistol-style remote to control the all-wheel drive with “Chill” or “Sport” driving modes that can get up to 250 mph scale speed.

Deluxe Cybertruck

The 1:10 model even comes with a reusable “cracked window vinyl sticker” that mocks the fail at the launch event. It also includes a plastic body that can be removed to see the model’s interior, the battery, and the drivetrain. The large truck has a 9.9-v, 3300-mAh rechargeable battery, and the run-to-charge time is 1:1. The deluxe Mattel version is 1/100th of the cost of the full-sized Telsa version at $400.

Mattel logoThe traditional scale HotWheels version of the Tesla Cybertruck fits on the classic orange Hot track. The 1/64th scale RC car has a gaming-style remote control, two-wheel drive but has Chill or Sport driving modes. Hot Wheels says the 1:64 car can get up to 500 mph scale speed. This version will cost you $20.

How to order a Cybertruck

Hot Wheels already offers the Tesla Model S, Model 3, Model X, Model Y, and Roadster as traditional Hot Wheels, so it no surprise that they added the CyberTruck to the stable. Just like real Tesla’s, the time between order and actually taking delivery of the purchased product is extremely long. Mattel says not to expect deliveries until mid-December 2020. The 1/10 version can be pre-ordered here and the 1/64 version can be per-ordered here.

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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.

A Printer for Rocket Scientists

A Printer for Rocket ScientistsWe all dream about the elusive paperless office. Seems even rocket scientists can’t figure it out. Mashable is reporting that the rocket scientists aboard the International Space Station (ISS) research laboratory which orbits 254 miles above Earth and travels at more than 17,500 miles per hour print a lot. The astronauts print roughly 1,000 pages a month on two printers; one is installed on the U.S. side of the ISS, the other in the Russian segment. They print critical mission information, emergency evacuation procedures, and sometimes, photos from home on a 20-year-old printer.

The international space station is one of humanity's great engineering triumphs. washingtonpost.comNASA IT techs just ordered new printers for the International Space Station (ISS) to replace the Epson 800 Inkjet printers which have been on-board the ISS since the people moved in, in November of 2000. ISS told the author, “When the printer was new, it was like 2000-era tech and we had 2000-era laptop computers. Everything worked pretty good … the printer’s been problematic for the last five or six years.”

Stephen Hunter, Manager of ISS Computer Resources, called the Epson 800 Inkjet printer, “a museum piece.”  NASA had dozens of this printer and, as one failed, they’d send up another one.

Epson 800 Inkjet printerBut now it’s time for something new. In 2018, NASA will send two brand new, specialized printers up to the station. Mr. Hunter, who has been updating the ISS’s office technology for the last two years, told Mashable that the ISS printers have needed to be replaced for a long time. However, he can’t drive over to Best Buy, buy a new printer, and launch it into space.

He started working with HP (HPQ) on an ISS IT overhaul, replacing over 100 existing ISS workstations with HP Gen 2 Z-Book laptops for the crew, so it was only natural they would turn to HP again for the printer project. Enrique Lores, President of HP’s Imaging, Printing, and Solutions business welcomed the opportunity, “We couldn’t pass up the opportunity to do this … It was an incredible technical challenge.”

By Hewlett-Packard Company [Public domain], via Wikimedia CommonsHP couldn’t just suggest that NASA launch any ordinary laser printer into space. Its friable toner dust and significant power consumption would make it a poor fit for life in micro-gravity. Ronald Stephens Research and Development Manager for HP’s Specialty Printing Systems Division explained, “NASA had a very unique set of requirements that we had to meet.”

NASA wanted a printer that could:

• Print and handle paper management in zero gravity – On Earth printers rely on gravity for paper management. Whatever HP provided would have to hold the paper, so it didn’t jam in the printer or float away when the printer’s done with it according to Mashable.

NASA• Handle ink waste during printing – NASA’s Hunter explained that typical inkjet printers do deposit some extra ink during the printing process. With gravity in place, the ink typically stays in the printer or even on the printed sheet. In zero gravity, it floats out. The NASA IT expert said astronauts could ingest the ink or it could contaminate the crew’s numerous onboard experiments.

• Be flame retardant – HP replaced the printer’s shell with fire-retardant plastic.

• Be power-efficient – The ISS generates all its own electricity through solar panels. That means they must tightly manage power consumption. The article says any new device they bring on board must be power efficient. One bit of good news: HP doesn’t have to change the power configuration on the printer. The ISS can supply a standard 110 AV outlet.

Instead of building a specialized printer from scratch. HP recommended the HP Envy 5600. It’s a standard, all-in-one device you can buy at retail for $129.99. But the printers heading up to the ISS underwent significant modification.

We removed the capability to do scanning, fax, and copy out of it to reduce weight and remove glass portions,” said NASA’s Hunter.

Removing what could weigh the printer down or break and become a space disaster was only the start. The most challenging part was related to zero gravity. Ultimately, HP went through every printer system and component to analyze how it would be affected by zero gravity.

HP turned to 3D printing and developed, experimental 3D material — nylon filled with glass beads. Its unique properties allowed HP to swap out the multiple parts that make up the printer output tray and turn it into one that’s both lighter, flexible, and more reliable.

HP ISS PrinterAfter all the modifications, the HP space printer still looks like a printer. It’s 20 inches wide, 16 inches deep, and five inches high. There’s no lid or glass, but, aside from the 3D printed materials, the ISS’s next printer looks pretty unremarkable. The HP ENVY Zero-Gravity Printer still uses standard inkjet ink.

To work out the kinks of the new ISS printer, HP worked with a small team from NASA that included Pettit and three other astronauts. Astronauts’ concerns about printing in space are much the same as they are on the ground. “You want it to be uneventful… you want to hit print and have a hard copy,” said Pettit.

The Vomit Comet flies a parabolic flightUp to this point, all of NASA and HP’s work was theoretical. They did all they could to make the space printer space-ready. However, the only way to know if this printer is suitable for use on the space station before actually sending it to space is by testing it in zero gravity and the only way to do that is on NASA’s Vomit Comet.

The Vomit Comet is a plane that flies a parabolic flight. As it loops up and down, passengers achieve, at the peak of the curve, about 20 seconds of near-weightlessness. During those times, the team tested printing and that the paper flowed through the printer and ejected in the right way. NASA’s Hunter said, “It went flawlessly. Everything works to our expectation.”

By SpaceX (transferred from English Wikipedia) [Public domain], via Wikimedia CommonsNASA plans to send the first two printers up to the station on Elon Musk’s Space-X Dragon C16 rocket as part of Space X mission CRS-14 scheduled for launch in February 2018.

NASA and HP have retrofitted roughly 50 HP Envy printers and expect each one to last roughly two years. “We want to use this through the remainder of the ISS program. Officially through 2024, with plans through 2028,” said NASA’s Hunter.

This will be the last printer they get in the space station,” predicated HP’s Stephens.

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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.