Uber and Its Shady Partners Are Pushing Drivers into Subprime Loans

The subprime lending market that plunged America into the Great Recession is back and as unscrupulous as ever. Instead of mortgages, this time a bubble has formed around auto loans , and reliably ruthless Uber is in the thick of it. Two “partners” in Uber’s vehicle financing program are under federal investigation, but Uber hasn’t slowed its aggressive marketing campaign to get drivers with bad credit to sign up for loans. Read more…

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Uber and Its Shady Partners Are Pushing Drivers into Subprime Loans

Brazil Is Keeping Its Promise to Disconnect from the U.S. Internet

Brazil was not bluffing last year, when it said that it would disconnect from the United States-controlled internet due to the NSA obscenely invasive surveillance tactics . The country is about to stretch a cable from the northern city of Fortaleza all the way to Portugal. This is a big deal. Read more…

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Brazil Is Keeping Its Promise to Disconnect from the U.S. Internet

What It Took For SpaceX To Become a Serious Space Company

An anonymous reader writes: The Atlantic has a nice profile of SpaceX’s rise to prominence — how a private startup managed to successfully compete with industry giants like Boeing in just a decade of existence. “Regardless of its inspirations, the company was forced to adopt a prosaic initial goal: Make a rocket at least 10 times cheaper than is possible today. Until it can do that, neither flowers nor people can go to Mars with any economy. With rocket technology, Musk has said, “you’re really left with one key parameter against which technology improvements must be judged, and that’s cost.” SpaceX currently charges $61.2 million per launch. Its cost-per-kilogram of cargo to low-earth orbit, $4, 653, is far less than the $14, 000 to $39, 000 offered by its chief American competitor, the United Launch Alliance. Other providers often charge $250 to $400 million per launch; NASA pays Russia $70 million per astronaut to hitch a ride on its three-person Soyuz spacecraft. SpaceX’s costs are still nowhere near low enough to change the economics of space as Musk and his investors envision, but they have a plan to do so (of which more later).” Read more of this story at Slashdot.

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What It Took For SpaceX To Become a Serious Space Company

A single clothing company consumes 1% of the world’s cotton

The largest companies consume a shockingly huge amount of the world’s natural resources. Ikea, for instance, uses 17.8 million cubic yards of wood a year. When it comes to cotton, there’s VF Corp., a relatively unknown corporation that owns some of the best-known clothing brands in the world. Read more…

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A single clothing company consumes 1% of the world’s cotton

There Are Officially Too Many Apps, And Nobody Is Making Money

The new American Dream was going so well: drop out, make an app for sending emojis that disappear after 5 seconds, and collect your check. But it turns out the app gold rush is broken for almost everyone. Read more…

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There Are Officially Too Many Apps, And Nobody Is Making Money

What gives paper money its actual value?

Money is just tinted paper printed with different numbers on it. So what gives the ol’ greenbacks its value? The bills used to be tied to the gold standard but now, it’s up to The Fed to control how many bills there are. So why can’t they just decide to print out ridiculous amounts of bill to make everyone rich? Read more…

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What gives paper money its actual value?

Having leisure time is now a marker for poverty, not riches

In Post-Industrious Society: Why Work Time will not Disappear for our Grandchildren , researchers from Oxford’s Centre for Time Use Research argue that there has been a radical shift in the relationship between leisure, work and income. Where once leisure time was a mark of affluence, now it is a marker for poverty. The richer you are, the more likely you are to work long hours; while the poorer you are, the fewer hours you are likely to work every week. The researchers theorise multiple causes for this. Poor people are more likely to be underemployed and unable to get the work-hours they want (and need) to support themselves. Rich people are likely to work in jobs that disproportionately advance and reward workers who put in overtime, so a 10% increase in hours worked generates more than 10% in expected career-gains. They also claim that rich workers are more likely to be satisfied with their jobs, but I’m skeptical of this — I think that relative to unskilled workers doing at-will 0-hours temp work whose every move is constrained and scripted by their employers, this is probably true, but I don’t think that the white-collar world is producing a lot of people who think that their work is meaningful and rewarding. In today’s advanced economies things are different. Overall working hours have fallen over the past century. But the rich have begun to work longer hours than the poor. In 1965 men with a college degree, who tend to be richer, had a bit more leisure time than men who had only completed high school. But by 2005 the college-educated had eight hours less of it a week than the high-school grads. Figures from the American Time Use Survey, released last year, show that Americans with a bachelor’s degree or above work two hours more each day than those without a high-school diploma. Other research shows that the share of college-educated American men regularly working more than 50 hours a week rose from 24% in 1979 to 28% in 2006, but fell for high-school dropouts. The rich, it seems, are no longer the class of leisure. There are a number of explanations. One has to do with what economists call the “substitution effect”. Higher wages make leisure more expensive: if people take time off they give up more money. Since the 1980s the salaries of those at the top have risen strongly, while those below the median have stagnated or fallen. Thus rising inequality encourages the rich to work more and the poor to work less. Nice work if you can get out [The Economist] ( via /. ) ( Image: Lonely Hammock , Micky Zlimen, CC-BY-SA )

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Having leisure time is now a marker for poverty, not riches

Facebook Puts 10,000 Blu-ray Discs In Low-Power Storage System

itwbennett writes “Facebook said last year that it was exploring Blu-ray for its data-center storage needs, and on Tuesday it showed a prototype system at the Open Compute Project summit meeting in San Jose, California. It designed the system to store data that hardly ever needs to be accessed, or for so-called ‘cold storage’ (think duplicates of users’ photos and videos that it keeps for backup). The Blu-ray system reduces costs by 50% and energy use by 80% compared with its current cold-storage system, which uses hard disk drives, said Jay Parikh, Facebook’s vice president of infrastructure engineering.” It’s a prototype, and they’re also evaluating low power flash as another alternative to keeping seldom accessed data on hard drives. Read more of this story at Slashdot.

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Facebook Puts 10,000 Blu-ray Discs In Low-Power Storage System

Online Car Retailer Launching Nation’s First Car "Vending Machine"

cartechboy writes “Last year’s Gallup poll showed that car salespeople are the least trusted professionals in America, ranking even below members of Congress. Enter, Carvana, an online dealership operating in Atlanta, Georgia. They allow customers to shop for cars online, secure loans online, and pay for cars online. Now they have gone one step farther and are claiming to remove the despised car salesperson from test drives and even post-purchase pickup by creating, yes, a giant auto vending machine. The facility, which will open at the end of November, will be a fully digital, 24-7 interactive ‘vehicle-delivery center’ designed to offer customers pick-up options after purchasing a vehicle online. They’ll have floor-to-ceiling windows, custom LED lighting, flat screen TV’s plus interactive keypads that identify customers based on unique buyer credentials. There will be three car pickup bays to allow for simultaneous pickups. One thing they won’t have: car sales people (Note: there will be customer service reps there to answer questions). Carvana plans to expand on the idea, presumably if this Atlanta facility works.” Read more of this story at Slashdot.

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Online Car Retailer Launching Nation’s First Car "Vending Machine"

Memory Chips Are the Most Expensive They’ve Been in Two Years

Manufacturers and consumers alike better brace themselves: memory chip prices have hit a two-year high because of a major fire in a massive Chinese production plant. Read more…        

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Memory Chips Are the Most Expensive They’ve Been in Two Years