Elon Musk: Tesla service development is going mobile

The Tesla (TSLA) CEO Elon Musk said in the company conference call yesterday that Tesla´s service development is going mobile, more and more in the future.

-Our mobile service is part of the growing service development, while this is the best way to reach our customers, Musk said.

The company also said it has opened 25 new service locations globally and that they measure the new locations by traffic and driving time. The need for service development is essential while the Tesla fleet have doubled in a year and the growth expectations are also showing the same trend. Also service needs to be scaled.

According to Musk, the car service operations is one of the main drivers for the new car sales. For example during the Q2 period this year, the company generated orders at a high pace.

Tesla is also developing its automation within the cars and for example the automatic stopping at the stop signs and traffic lights is going to part of the new safety automations. The Model 3 has reached the highest ever safety standards in the US Safety Assist Category, the company said.

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Facebook’s revenue up 26 % to 16,9 billion dollars

Facebook’s revenue was 16,9 billion dollars during the second quarter, up 26% from the year earlier.

The tech company showed a 2,6 billion dollars profit, or 0,91 dollars per share. The profit would have been 1,99 dollars per share, but the 5 billion dollars settlement with the Federal Trade Commission decreased the profit.

The settlement was agreed due to the privacy issues in the Facebook processes.

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Microsoft to invest 1 billion dollars in OpenAI

The tech company Microsoft (MSFT)  has agreed to invest 1 billion dollars to artificial intelligence company OpenAI. The company will use Microsoft Azure cloud service to build powerful computing system and run AI software.

According to companies, the both companies will jointly develop supercomputing technology. The OpenAi started in 2015.

– The creation of AGI will be the most important technological development in human history, with the potential to shape the trajectory of humanity,” said Sam Altman, CEO, OpenAI.

– Our mission is to ensure that AGI technology benefits all of humanity, and we’re working with Microsoft to build the supercomputing foundation on which we’ll build AGI. We believe it’s crucial that AGI is deployed safely and securely and that its economic benefits are widely distributed. We are excited about how deeply Microsoft shares this vision, he said.

-AI is one of the most transformative technologies of our time and has the potential to help solve many of our world’s most pressing challenges,” said Satya Nadella, CEO, Microsoft.

– By bringing together OpenAI’s breakthrough technology with new Azure AI supercomputing technologies, our ambition is to democratize AI — while always keeping AI safety front and center — so everyone can benefit, Nadella concluded.

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Skoda Octavia with natural gas – efficient driving (updated)

Have you ever tried to drive a natural gas car? I can say it has nothing special in it. It feels like you are driving a normal petrol or hybrid car. The main difference is the energy source and in this case, the compressed natural gas (CNG) is to make the driving more environment friendly and efficient.

According to the company information the Skoda Octavia 1,5 TSI CNG car has two tanks, with maximum capacity of 97 litres or about 17 of the gas at the pressure of 200 bar. They are in the form of underbody tanks and one car drive about 480 km with the one gas filling. One can really say that the driving with the natural gas is efficient. The combined consumption according to new standard is 6,4 m3 and the co2 emissions (also combined) are 115 g/km. The car has also a petrol tank with 9 litres.

The co2 emissions seems to be relative high, but compared to normal petrol the emissions are about 25 % less than with the same kind of petrol car.

But how about the driving itself and the car otherwise? I would say the car is a very good family car with the new energy-efficient thinking. It has plenty of space for normal driving and for four people. One can also transfer some sporting goods for example.

The basic functions in the car are well-placed and useful. One can say this car is very easy to drive and handle. The new Octavia delivery time is about 2-3 month and for example in Finland the natural gas price is about 20 euros for one tank filling for the 480 km ride.

The car is produced in Czechoslovakia and it is part of the global Volkswagen Group (VOW3).

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Virgin´s Galactic is becoming a listed company – WSJ

Virgin Galactic, which offers human spaceflights to public, is planning to be listed to fund the growth. According to Wall Street Journal, the Social Capital Hedesophia  Holdings is planning to invest about 800 million dollars in Virgin Galactic for a 49 % stake. This would also mean that the Virgin Galactic would become publicly listed later this year.

The space travelling is become more common while Amazon´s owner Jeff Bezoz´s Blue Origin and Elon Musk´s Space Exploration Technologies (Space X) are also in the same markets.

According to WSJ, the Virgin Galactic has already raised more than 1 billion dollars since it was founded in 2004.

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WeWork to raise billions ahead of IPO-WSJ

The US workspace company WeWork is going to raise billions of dollars in debt before it goes public, writes the Wall Street Journal tonight. According to WSJ, WeWork would raise as much as 3 billion to 4 billion dollars in the coming months, citing people familiar with the matter.

The debt offering could grow as big as 10 billion dollars over the next several years, the WSJ writes. The meaning of this offering is to fund the company’s growth until its business is profitable, the people said.

One reason for this debt offering is also the other big IPOs during the spring time, Uber (UBER)  and Lyft (LYFT), which are trading below their IPO pricing at the moment.

According to the news, Goldman Sachs Group and JP Morgan Chase & Co are leading the structuring and backing the deal.

WeWork, based in New York, made a 1,9 billion dollars loss last year with a 1,8 billion dollars revenue. The company has been valued at 47 billion dollars this year in the earlier funding rounds.

WeWork filed the IPO at the end of last year and the initial offering is expected to be during this year.

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