Economics/Class Relations

Elon Musk’s empire of corporations

Saturday, November 25, 2023

From the Fortune Staff

A special digital-only issue

Elon Musk’s drills are boring below cities; his rockets and satellites are circling the globe; and his vast AI ambitions are just starting to take shape. But he courts controversy relentlessly—most recently endorsing an antisemitic post on X that caused several blue-chip advertisers to pull their business from the site. In many ways he is his own worst enemy. Though he’s ubiquitous, his bigger-than-life persona and penchant for wild exaggeration make it hard to comprehend what he’s actually building and where his larger aims may lie.

 

Fortune’s investigation into his holdings reveals an unusual mix of true technological breakthroughs in some corners, dashed hopes at projects that no longer hold his attention, and a corporate culture that one employee said resembles a “big fire drill every single day.” Taken together this is an unauthorized look at how the world’s richest man runs an unprecedented empire of corporations that are endlessly controversial, wildly unconventional, and poised to shape our lives for decades to come. Read the full digital issue here.

Special digital issue: Elon Musk’s Universe

Nov. 20, 2023
 

AI

OpenAI wants nothing more than to move on from its CEO fiasco, but experts warn it faces a potential brain drain despite Sam Altman’s return

OpenAI crossed the Rubicon this past week—going back to the way things were simply is no longer an option and teams may now scatter to the wind.

FOMO, ‘when,’ and ROI: CEOs are stressed about AI, and an army of experts are helping them decide where to place the right AI bets

Here’s how to understand the what, when, and why of spending dollars on AI.

CRYPTO

Binance saw $800 million in outflows after news broke of Changpeng Zhao’s plea deal. Experts say it could have been much worse

The company saw $800 million of outflows in some of the largest cryptocurrencies over the course of a day.

HOUSING

Top economist who predicted 2008 housing crash says the commercial real estate bubble is about to burst 

“I think the biggest bubble right now is commercial real estate,” says Gary Shilling, adding that it’s not quite like 2008 but it is “beginning to crack.”

SUCCESS

America’s public schools are on their last legs: The proportion of students attending a school with ‘chronic absenteeism’ has doubled since pre-pandemic times

About 14.7 million students are chronically absent, new research from Johns Hopkins finds.

PERSONAL FINANCE

Millennials say they need to earn half a million dollars a year to be happy—nearly four times as much as other generations

For millennials, financial happiness lies in making $525,000 a year and having a $1.7 million net worth.

TECH

Ford CEO Jim Farley slashes plans for new battery cell plant in latest sign the EV sales bonanza may be over

Ambitions for the Michigan plant, the first Ford site to make low-cost LFP battery cells, have been downsized to balance growth with profitability.

Nvidia sued after senior employee accidentally showed off confidential files taken from previous employer during a video meeting

French tech firm Valeo accused Nvidia of using stolen information as a “blueprint for future corporate espionage.”

WELL

A new study on the Mediterranean diet offers the strongest proof yet that it’s associated with healthy brain aging

This plant-based way of eating is more of a lifestyle than a strict diet and offers a wide variety of health benefits, experts say.

LEADERSHIP

The OpenAI meltdown shows that when nonprofits and for-profits clash, the one with the money usually wins

The ongoing spectacle puts a new twist on an old question: Can nonprofits and for-profits really work together effectively?

CEO in name only: How to tell if you’re a CE-No, and what to do about it

Corporate leaders like Linda Yaccarino and Bob Chapek show the perils of undermined leadership.

 

 

DataRobot aims to make AI a reliable tool for companies
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