Elon Musk asks voters to brace for economic 'hardship,' deep spending cuts in potential Trump Cabinet role. More from NBCNews.com:
In the home stretch of the 2024 election, voters who’ve been weighing both campaigns’ proposals to tackle living costs are now hearing a new pitch from the Republican side: accept some short-term economic pain to rein in government spending.
That message has emerged from former President Donald Trump’s wealthiest backer, Elon Musk, who says that the GOP nominee’s plans to put the U.S. on firmer fiscal footing would likely entail “temporary hardship” for ordinary Americans.
At a virtual town hall event Friday held on Musk’s social media platform, X, the multibillionaire Tesla and SpaceX executive said he was “praying for a victory” for Trump, so he could begin working in a high-level Cabinet role to axe federal spending.
hello, future. it’s me, kev.
…and this is a dispatch from the digital frontier. Your one-stop shop for markets, tech, and the future. The day is 303. The year is 2024. The planet is Earth. My name is Kevin Cirilli —> LinkedIn.
Back to the future...
RUSSIA TROLLING U.S. ELECTION. More from CNN: “Russian disinformation network with ties to notorious ‘troll factory’ is taking aim at the US election, analysis finds.”
USEFUL DATA: The Magnificent Seven Monitor, via Reuters: Happy tech earnings week. As we look to crunch the numbers on what to expect for CY25, Reuters has this useful monitor to track tech earnings. More from Reuters: “They’re Wall Street’s big guns. Stocks with so much swagger that they earned a nickname conjured from Hollywood’s golden age. As a group, Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla have racked up the lion’s share of the market’s gains in recent years, roaring to nearly one-third of the S&P 500’s total capitalization.” See it here.
Microsoft Earnings Show AI Is Bolstering Demand for Cloud Services. More via WSJ: “Microsoft reported strong quarterly growth in its cloud-computing business that indicated its heavy investment in artificial intelligence is paying off. Revenue for the tech giant’s Azure cloud business—a core of its AI offering—rose 33% in the quarter through September, beating analysts’ expectations. The Redmond, Wash., company’s overall revenue rose 16% to $65.6 billion as its net income climbed 11% to $24.7 billion. Analysts were expecting revenue of $64.57 billion and net income of $23.15 billion.”
Meta misses on user growth, warns of 2025 jump in AI spending. More via CNBC: “Meta reported weaker-than-expected user numbers in its third-quarter earnings report on Wednesday. The company reported 3.29 billion daily active people for the third quarter, which is up 5% year over year but came in below analysts’ expectations of 3.31 billion. The company said it expects capital expenditures to continue to grow significantly in 2025.”
Created with TradingView
Robinhood Falls After Revenue Miss on Customer Promotion Program. More via Bloomy: “Robinhood Markets Inc. fell after the brokerage reported revenue that missed analyst estimates because of a customer promotion program that required the firm to offset a portion of the haul.”
with gratitude,
kev
ABOUT mtf.tv’s meet the future: mtf.tv’s meet the future is a cutting-edge platform focused on addressing key challenges at the intersection of national security, technology, and business. With a mission to embrace freedom to meet the future’s challenges and opportunities, mtf.tv offers forward-thinking media offerings and forums.
Source: Variety.