Budget phones tend to be pretty forgettable, but the Nothing Phone 2A isn’t your average budget phone — that much is obvious just looking at it.
The 2A is Nothing’s third phone, and its first attempt at a truly inexpensive device. And it’s very budget-friendly: the Phone 2A goes on sale today starting at £319 (€329) for a model with 8GB of RAM and 128GB of storage. A 12GB/256GB version will cost £349 (€379). Preorders open today, and the phone will ship on March 12th. The 256GB variant will be sold in the US for $349, but there’s a catch — it’s only available through a developer program and the phone will only work on T-Mobile. That’s our loss, because Nothing has created a device that really stands out from the crowd.
The minimalist aesthetic carries through the homescreen treatment.
We’ve had a fewglimpses of the Phone 2A in the past few weeks so its specs don’t come as a total surprise, but here’s the rundown: it comes with a 6.7-inch, 120Hz OLED screen with Gorilla Glass 5 and 1080p resolution — well, 1084 x 2412, to be exact. There’s a massive 5,000mAh battery that supports 45W wired charging, though there’s no wireless charging here. The Phone 2A uses a MediaTek Dimensity 7200 Pro chipset, which we already knew, and comes with an IP54 rating, which we didn’t.
The design is unmistakably Nothing, from the transparent back panel to the stylish monochrome UI. The centered camera module includes a 50-megapixel main with an f/1.8 lens and optical stabilization, which is very rare in phones under $500. There’s a 50-megapixel f/2.2 ultrawide and a 32-megapixel front-facing camera. Three light strips around the rear cameras make up the Phone 2A’s glyph interface, bringing over familiar features from the Phone 2 like “flip to glyph” to quickly silence the phone and instead be notified via its flashing lights.
Blinking lights are cool and all, but this always-on display is where it’s at.
Given all of the above, $349 is an extremely reasonable asking price. Sure, the outer frame and back panel are plastic, it’s only splash-resistant, and the glyph interface is still mostly a curiosity, but it’s only $349. It’s easier to understand why certain features like a more robust IP-rating aren’t here, more so than on the $599 Phone 2.
That price tag also makes it easier to appreciate what is here: the glyph interface feels like a fun extra, and the informative always-on display is one of my favorites on any phone. There’s NFC for contactless payments, which isn’t always the case on budget phones, and if you’re unsure exactly where to tap the device you can just look — it’s right there on the back of the phone. Likewise, Nothing’s minimalist UI feels almost like a luxury in this category, where you’ll occasionally find the worst kind of bloatware.
It’s almost too good to be true — and if you live in the US, that’s kind of the case. The Phone 2A is only available through Nothing’s developer program, which is open to anyone, but the device only works on T-Mobile’s network. It supports the carrier’s n41 band, which is really the backbone of its 5G network, but Verizon and AT&T’s 5G networks aren’t supported. Even if you’re on T-Mobile, it seems a little dicey to rely on the Phone 2A as a daily driver without full support on LTE and low-band 5G. Disappointing, but hey — cool phones skipping the US? That’s nothing new.
Stand mixers typically come in two different modes: tilt-head and bowl-lift. Tilt-head stand mixers have a hinge at the back of the model that literally tilts the head back and allows you to easily remove the bowl from the mixer, as well as change the mixing paddle as needed. The purpose of bowl-lift models is the same, but instead of a hinge that tilts the head, two arms are usually located toward the base of the model, with a lever that lifts up the bowl to meet the paddles.
Most average-size stand mixers are tilt-head models, while professional options tend to utilize the bowl lift. With a tilt-head model, it’s important to consider that the height of the model changes when the head is tilted back, meaning that you might have to pull it out from under overhead cupboards in order to accommodate the extra height when in use.
When it comes to stand mixer color options, it’s hard to beat KitchenAid’s collection.
KitchenAid
Stand mixer size and capacity
Size-wise, the height requirement of a stand mixer may be the most important consideration when it comes to either the counter space or the storage space to host it, with average models being typically 14 to 15 inches in height. (With another inch or two needed to tilt the head back as required.) Smaller models may save you a couple of inches, and larger professional-grade models can be as tall as 18 inches.
Volume-wise, average stand mixers offer a bowl that is between 4 and 6 quarts. Some smaller models are available that are between 3 and 4 quarts, which is still enough capacity for typical cookie and cake recipes, but may feel crowded for extra large batches or some bread recipes. Professional-grade stand mixers may offer bowl volumes of up to 8 quarts, which can handle many catering-size jobs.
A tilt-head stand mixer in action.
KitchenAid
Stand mixer features
Besides the tilt-head and bowl-lift functionality, stand mixers tend to come with several different beaters for different functions: a paddle for typical cake and cookie mixes, a whisk for whipping meringues or cream, and a dough hook that approximates light kneading in how it moves the dough around the bowl. Low-, medium- and high-speed settings are generally expected, with many models offering as many as 10 or 12 speeds to meet your precise needs. Additionally, several models may offer separate-purchase attachments for additional functionality, such as making ice cream or noodles, or grinding meat.
X owner Elon Musk is dreaming of a world where people ditch their cell phones and instead make audio and video calls on the social media platform. Musk’s vision has elicited nearly collective horror from users of his platform—as well as potential risks to their IP addresses.
Is USB-C Finally Coming To iPhone?
X began rolling out the audio and video calling feature, which was previously restricted to paid users, to everyone last week. However, hawk-eyed sleuths quickly noticed that the feature was automatically turned on, meaning that users had to manually go to their settings to turn it off. Only your mutuals or someone you’ve exchanged DMs with can call you by default, but that’s still potentially a lot of people.
Privacy researchers also sounded the alarm on the feature after learning that it revealed users’ IP address during calls. Notably, the option to protect users’ IP addresses is toggled off, which frankly makes no sense.
Zach Edwards, an independent privacy researcher, told Gizmodo that an IP address can allow third parties to track down your location and get their hands on other details of your online life.
“In major cities, an IP address can sometimes identify someone’s exact location, but usually it’s just close enough to be creepy. Like a 1 block radius around your house,” Edwards said via X direct messages. However, “sometimes if in a remote/rural location, the IP address 1000% identifies you.”
Law enforcement can use IP addresses to track down illegal behavior, such as child porn or pirating online content. Meanwhile, hackers can launch DDoS attacks to take down your internet connection or even steal your data.
How to turn off audio and video calls on X
Luckily, you can avoid potential IP security nightmares by turning off audio and video calls on X. As you’ll see in the screenshots below, it’s pretty straightforward:
– First, go to Settings and Support. Then click on Settings and Privacy. (If you’re on desktop, click on the More button and then go to Settings and Privacy).
– Next, click on Privacy and Safety. Select Direct Messages from the menu that pops up.
– Toggle off the option that says Enable audio and video calling.
Screenshot: Oscar Gonzalez
And that’s it. Some may not see the Enable audio and video calling option in their settings yet, which means the feature hasn’t been rolled out to them. That doesn’t mean they won’t eventually get it in a future update.
If you believe in Musk’s vision and want to make and receive your calls on X—huzzah, I guess. However, make sure to keep your IP address safe and toggle on the Enhanced call privacy option in the Direct Messages settings. And may the odds be ever in your favor.
A mortgage refinance is when you take out a home loan to replace your existing mortgage. You’ll also get a new loan term and interest rate with your new mortgage.
For many people, the primary goal of refinancing is to save money by getting a lower mortgage rate. But with mortgage interest rates still high, few homeowners can save enough money to justify the effort of refinancing.
However, you might consider refinancing for other reasons, such as changing your loan term or type. It all depends on your personal circumstances and what you plan to do with the cash.
During the pandemic, many homeowners jumped at the opportunity to refinance their existing mortgages because they could secure new, lower rates.
In early 2022, mortgage rates began to soar in response to high inflation and the Federal Reserve’s aggressive rate-hiking strategy. The Fed hasn’t hiked rates since July, and it plans to make its first rate cut later in 2024 as long as inflation continues its downward trajectory.
Since the start of the year, mortgage refinance rates have sat between 6% and 7%. Mortgage rates are projected to creep lower throughout the year, but the days of rock-bottom rates in the 2% range aren’t expected.
For now, homeowners who can save money by refinancing are likely those who bought when rates were at their peak above 8%, according to Alex Thomas, senior research analyst at John Burns Research and Consulting. As the Fed starts to cut interest rates and mortgage rates move lower, refinance activity should pick up.
“The Fed has signaled that they expect to cut rates this year, but they haven’t given us a timeline, and there’s a lot of year left,” Thomas said.
What is refinancing?
When you refinance your mortgage, you pay off your existing mortgage with a new home loan that comes with new rates and terms. If you secured your existing mortgage when interest rates were higher than they are today, refinancing at a lower rate can save you money on your monthly payment or allow you to pay off the loan faster (and sometimes both).
Reasons to consider refinancing
There are many good reasons to refinance when conditions are right. Some of the most common scenarios include:
Reduce your monthly payments
Switching to a new loan with a lower interest rate or longer repayment term can reduce your monthly mortgage payment. The amount you’ll save each month depends on the size of your mortgage and how much lower the new interest rate is compared to your previous loan. Most experts recommend refinancing if you can reduce your interest rate by 0.75%.
Pay off your mortgage sooner
If your original mortgage was a 30-year loan, you could refinance to pay it off sooner. With a lower interest rate, you may be able to switch to a 15-year loan and still have a manageable monthly payment. Reducing the length of the mortgage also lowers the total amount of interest you’ll pay over the life of the loan.
Getting cash out of your home
With a cash-out refinance, you apply for a new loan that’s larger than what you owe on your old loan — and take the difference as a cash payment. Many homeowners use a cash-out refinance to pay for home improvements.
Switch to a fixed-rate loan
If you have an adjustable-rate mortgage, switching to a fixed-rate loan could be a good move. Refinancing can help you reduce future risk, according to Jason Fink, a professor of finance at James Madison University in Harrisonburg, Virginia. Locking in a fixed rate provides both predictability and protection from future rate increases.
Eliminate private mortgage insurance
Most loans require private mortgage insurance if you put less than 20% down when buying a home. As home prices have increased, you may have crossed the 20% equity threshold, creating an opportunity for you to refinance without PMI. (You can also ask your current lender to eliminate the PMI without refinancing.)
Reasons to not refinance
Fees are too high
While refinancing can save money in the long run, you’ll need to pay upfront closing costs that can add up to thousands of dollars.
Interest rates are higher
If the interest rates have increased and your repayment term is the same, your payments will increase and you won’t save money.
You’re planning on moving soon
It could take a few years to recoup your refinance fees. If you expect to move in a few years, the trouble and expense of refinancing now might not make sense.
You’re nearly finished paying off your mortgage
Mortgages are designed so that your highest interest payments come during the early years. The longer you’ve had the mortgage, the more your monthly payment goes to paying off the principal. If you refinance later in the loan term, you’ll revert to primarily paying interest instead of building equity.
Different types of refinancing
There are a few different options for refinancing a mortgage. Here’s a breakdown of some of the different ways to replace your current home loan:
Rate-and-term refinance
A rate-and-term refinance replaces your mortgage with a new rate and/or term with one of two goals: save money or pay off the loan faster. For example, you might decide to refinance a 30-year mortgage with a 7.5% interest rate with a new 30-year mortgage with a 6.5% interest rate to reduce your interest charges. Or you might have 20 years left on a 30-year mortgage and opt to refinance to a 15-year mortgage — ideally with a lower interest rate — to accelerate your payoff timeline.
Cash-out refinance
A cash-out refinance replaces your existing mortgage with a new loan that’s worth more than your current loan. The goal with a cash-out refinance is to tap into your home equity and borrow cash at a lower rate to cover a major expense such as remodeling your kitchen or paying for college.
FHA or VA streamline refinance
If you have a mortgage backed by the FHA or the VA, you may be able to qualify for a streamline refinance. This “streamlines” the process by eliminating some of the additional paperwork involved, including a new home appraisal or proof of income documentation. VA streamline refinances are commonly known as a VA IRRRL, or Interest Rate Reduction Refinance Loan.
How to get the best refi rate
Getting the lowest refinance rate available is similar to getting the lowest rate possible on a new purchase loan: It starts with your personal finances. Evaluate your credit report at least 30 days before you apply for a refinance. If there is any incorrect information, dispute it. Creditors have 30 days to confirm the accuracy of the information or remove it from your report. Removing inaccurate information can improve your credit score and possibly help you qualify for a lower interest rate.
Taking steps to improve your credit, including paying off credit cards, can lower the risk associated with your new loan. It’s also important to compare options from multiple lenders. In addition to scoring the lowest rate, shopping around can help you find options with lower fees to help save on your closing costs.
Current mortgage and refinance rates
Product
Interest rate
APR
30-year fixed-rate
7.11%
7.16%
15-year fixed-rate
6.65%
6.72%
30-year fixed-rate jumbo
7.21%
7.26%
30-year fixed-rate FHA
6.88%
6.93%
5/1 ARM
6.69%
7.84%
5/1 ARM jumbo
6.39%
7.69%
7/1 ARM
6.70%
7.92%
10/1 ARM
6.99%
8.00%
15-year fixed-rate jumbo
6.73%
6.80%
20-year fixed-rate
6.94%
7.00%
30-year fixed-rate VA
7.00%
7.04%
7/1 ARM jumbo
6.47%
7.66%
15-year fixed-rate refinance
6.70%
6.77%
30-year fixed-rate refinance
7.05%
7.10%
5/1 ARM refinance
6.48%
7.71%
7/1 ARM refinance
6.43%
7.72%
10/1 ARM refinance
6.98%
8.02%
30-year fixed-rate jumbo refinance
7.08%
7.12%
15-year fixed-rate jumbo refinance
6.76%
6.83%
5/1 ARM jumbo refinance
6.32%
7.66%
30-year fixed-rate FHA refinance
6.96%
7.00%
20-year fixed-rate refinance
6.95%
7.00%
30-year fixed-rate VA refinance
7.68%
7.71%
7/1 ARM jumbo refinance
6.47%
7.66%
Updated on March 05, 2024.
How to apply to refinance my home loan
1. Get your credit in great shape: While conventional lenders will approve refinance applications with a credit score of 620 or higher, the best rates go to borrowers with scores of 740 or higher.
2. Figure out how much home equity you have: How much is your house worth? And how much money do you still owe on your current mortgage? The difference is your home equity. Simply put, the higher equity, the better you’ll look in the eyes of a lender.
3. Compare multiple offers: You don’t have to refinance your mortgage with your current lender — though it’s worth starting with them to see what they can offer. Some lenders will waive certain fees for current borrowers who want to refinance. Make sure you compare other options, though. Comparison-shopping is the key to saving money, whether you’re shopping for groceries or a new mortgage.
4. Lock your rate: Rates have increased substantially since the Federal Reserve started hiking interest rates, so it’s important to lock in a rate once you find one that suits your needs. If you don’t, you could wind up paying more. Make sure you ask about a float-down rate lock, which lets you take advantage of lower interest rates if they become available.
5. Communicate: Once you settle on a lender, it’s important to be responsive to requests for financial documentation. The faster you respond, the faster you’ll be able to close on the new loan, and the faster you’ll be able to start saving money with your lower rate.
FAQs
There may be a slight difference between average refinance rates and average rates for purchase loans (the initial mortgage taken out on the home). The bigger difference between buying a new home and refinancing your current mortgage tends to be with the closing costs. The closing costs for refinances are lower, averaging less than 1% of the total loan amount. There are some exceptions, however, in New York, Pennsylvania and Delaware, where closing costs are significantly higher.
Refinancing involves paying closing costs, though the costs tend to be lower than with a new purchase loan. You should expect to pay 2% to 5% of the total mortgage value depending on the size of the loan, though you may be able to roll closing costs into your loan balance. In 2021, the average closing costs to refinance a mortgage for a single-family home added up to $2,375, according to data from ClosingCorp. That figure doesn’t include any local taxes, however, which can add thousands in certain parts of the country.
To figure out if refinancing makes financial sense, you need to determine your break-even point, i.e., when your projected savings are greater than the costs associated with refinancing the loan. This ultimately comes down to how long you plan to live in the home. For example, if you’re going to pay $6,000 to refinance your mortgage for a lower rate, you’ll need to determine if you’ll be in the home long enough for the total monthly savings to add up to more than $6,000.
Cybersecurity professionals are a core element of an organization’s cyber defenses. While much has been written about the shortage of skilled cybersecurity staff, far less focus has been given to how to enable these professionals to make the greatest impact. In short, how best to set them up for success.
Our recent analysis aims to advance this area of understanding by exploring the question: Does organizational structure affect cybersecurity outcomes? The findings will hopefully prove useful for anyone considering how to structure a cybersecurity function to achieve the best outcomes.Download the report
Approach
Our starting point was an independent survey commissioned by Sophos into the experiences of 3,000 IT/cybersecurity professionals working in mid-sized organizations (between 100 and 5,000 employees) across 14 countries. The research was conducted in the first quarter of 2023 and revealed the realities of ransomware, cyber risk, and security operations for security professionals operating at the frontline. The findings formed the basis of the Sophos State of Ransomware 2023 and State of Cybersecurity 2023 reports.
This analysis looked at those cybersecurity experiences through the lens of the organizational structure deployed. The goal was to identify if there is any relationship between structure and outcomes and, if so, which structure reported the best results.
Survey respondents selected one of the following models that best represented the structure of the cybersecurity and IT functions in their organization:
Model 1: The IT team and the cybersecurity team are separate organizations (n=1,212)
Model 2: A dedicated cybersecurity team is part of the IT organization (n=1,529)
Model 3: There is no dedicated cybersecurity team; instead, the IT team manages cybersecurity (n=250)
Nine respondents did not fall into any of these models and so were excluded from the analysis. Organizations that fully outsourced their cybersecurity, for example, to an MSSP, were excluded from the research.
Executive summary
The analysis revealed that organizations with a dedicated cybersecurity team within a wider IT team report the best overall cybersecurity outcomes(model 2) relative to the other two groups. Conversely, organizations where the IT and cybersecurity teams are separate (model 1) reported the poorest overall experiences.
While cybersecurity and wider IT operations are separate specializations, the relative success of model 2 may be because the disciplines are also intrinsically linked: cybersecurity controls often have a direct impact on IT solutions while implementing good cyber hygiene, for example, patching and locking down RDP, is often executed by the IT team.
The study also made clear that if you lack essential cybersecurity skills and capacity, how you structure the team makes little difference to many of your security outcomes. Organizations looking to supplement and extend their in-house capabilities with specialist third-party cybersecurity experts (for example, MDR providers or MSSPs) should look for flexible partners who demonstrate the ability to work as an extension of the wider in-house team.
Analysis highlights
The analysis compares the reported experiences of the three groups across a number of areas, revealing some thought-provoking outcomes.
Root cause of ransomware attacks
Interestingly, the reported root cause of ransomware attacks varied by organizational structure:
Model 1: Almost half of attacks (47%) started with an exploited vulnerability, while 24% were the result of compromised credentials.
Model 2: Exploited vulnerabilities (30%) and compromised credentials (32%) were almost equally likely to be the root cause of the attack.
Model 3: Almost half of attacks (44%) started with compromised credentials, and just 16% with an exploited vulnerability.
Ransomware recovery
Model 1 organizations were far more likely to pay the ransom than the other groups, and reported the lowest rate of backup use to recover encrypted data. In addition to being the group most likely to pay the ransom, model 1 organizations also reported paying much higher ransoms, with their median payment more than double that of models 2 and 3.
Security operations
The biggest takeaway from this area of analysis is that while model 2 organizations fare best in security operations delivery, most organizations find it challenging to deliver effective security operations on their own. Essentially, how you structure the team makes little difference if you lack essential capacity and skills.
Day-to-day cybersecurity management
There is a lot of common ground in this area across all three groups, and all experience similar challenges. More than half of respondents in all three models report that cyberthreats are now too advanced for their organization to deal with on their own (60% model 1; 51% model 2; 54% model 3).
All models also share similar worries around cyberthreats and risks. Data exfiltration and phishing (including spear phishing) feature in the top three cyber concerns for all three groups, and security tool misconfiguration is the most common perceived risk across the board. Essentially, everyone has the same top concerns, independent of organizational structure.
Important note
While this analysis provides unique insights into the correlation between IT/cybersecurity structure and reported outcomes, it does not explore the reasons behind these results i.e., causation. Every organization is different, and the structure of the IT/cybersecurity function is one of many variables that can impact propensity to achieve good security outcomes, including industry sector, the skill level of team members, staffing levels, the age of the organization, and more. These learnings should be used alongside other considerations to identify the best approach for an individual organization.
As stated, this analysis focuses on correlation rather than causation, and further research is needed to understand the reasons behind these outcomes. In the face of today’s cybersecurity challenges, any gain for defenders is important and we hope this analysis will spur further study into how organizations can leverage their internal structure to help optimize their defenses.
House and Senate appropriators have released NASA’s final spending bill for the fiscal year 2024, focusing on the Artemis program’s goal of returning astronauts to the Moon. However, there’s still considerable uncertainty surrounding the agency’s plans for bringing back rocky samples from Mars.
China’s Plan to Land Astronauts on the Moon
NASA was allocated $24.875 billion for its budget this year, about half a billion less than what the space agency received in 2023 and some $2.31 billion short of what it was hoping to spend on its various programs in 2024.
Despite the slash to the budget, the Artemis program came out virtually unscathed. NASA had requested $8.1 billion for its Moon program, and the new bill granted $7.67 billion towards the development of the Artemis missions, an increase of $200 million from the previous year’s budget. That chunk of change includes $600 million for the Space Launch System rocket and $1.88 billion for the Human Landing System, which will transport astronauts from lunar orbit to the surface of the Moon.
It’s unclear, however, how much money was allocated towards NASA’s ambitious Mars Sample Return (MSR) mission. In late September 2023, an independent review board issued a final report on MSR, referring to it as a “highly constrained and challenging campaign,” with “unrealistic budget and schedule expectations from the beginning.” In light of the report, the Senate Appropriations subcommittee responsible for overseeing NASA’s budget directed the space agency to submit a year-by-year funding profile for MSR.
In the final 2024 budget report, Senate appropriators emphasized that MSR remains a high priority while reiterating concerns about the mission’s schedule, and granted it “no less than” $300 million and up to the requested budget of $949 million. That’s a lot of wiggle room for the amount of money that would be going towards MSR, and the report mentions that the mission remains under review until NASA submits its mission profile to outline a revised architecture for the mission.
The report also raised alarm over recent layoffs at NASA’s Jet Propulsion Laboratory, which were carried out in anticipation of the 2024 budget. “The agreement notes that there has not been consultation with some Members of Congress about NASA’s decision to move forward with workforce reductions before a fiscal year 2024 bill was enacted and notes concern that NASA’s actions have contributed to serious losses in NASA’s high-skilled workforce,” the report reads.
The 2024 budget also includes $227 million for the On-Orbit Servicing, Assembly and Manufacturing (OSAM) 1 mission, an orbiting servicer to refuel and relocate satellites to extend their lifetime that was recently cancelled by NASA due to cost and schedule challenges. The fate of OSAM-1 has been sealed, but the report recommended that NASA reduce testing requirements and non-essential capabilities, and recommended that NASA “work with the Department of Defense on a plan for a potential use,” as an alternative.
Prior to the release of the final budget, NASA had already made some adjustments to its spending for the current year. The space agency suspended work on the Geospace Dynamics Constellation, a group of satellites designed to study Earth’s upper atmosphere. Although it was already preparing to receive a little less cash this year, NASA will likely still need to make some more adjustments to its programs going forward while working on getting astronauts back on the Moon and returning samples from another planet for the first time, two major feats that are meant to transition the space agency to a new era of space exploration.
The Federal Communications Commission is considering a proposal to bar landlords from charging tenants in bulk for cable, internet, and satellite services, offering them more choice in the kinds of services they need.
The agency is circulating a proposed rule to ban the practice of “bulk billing,” the White House announced in a press release ahead of President Joe Biden’s meeting with his Competition Council on Tuesday. It’s part of a broader effort to promote policies that will lower costs for Americans, as Biden is trying to appeal to voters focused on the economy as he seeks reelection later this year. That theme of lowering costs will resurface in Biden’s State of the Union address on Thursday, National Economic Advisor Lael Brainard told reporters on a call Monday.
Bulk billing restricts consumers’ choices by limiting the prices and levels of cable and internet service available to them, the White House said in the press release. The new proposal will also target other “exclusive arrangements” between landlords and service providers like exclusive wiring and marketing arrangements or revenue sharing agreements, the White House said.
The Biden administration is also promoting the progress of its earlier actions to crack down on junk fees, the additional unexpected charges tacked on by companies including banks, car rental agencies, and event ticket sellers. Several different agencies have been working on proposals to crack down on junk fees, including the Federal Trade Commission, which proposed a rule last fall to require businesses to present the full price of services upfront, rather than concealing added fees. The Consumer Financial Protection Bureau also announced on Tuesday that it finalized a rule to lower credit card late fees from an average of $31 to $8. The Council of Economic Advisers, an internal White House agency, found that these actions will collectively reduce junk fees by more than $20 billion a year going forward — down from what it estimates as $90 billion a year.
Ahead of its launch on March 7th, key specs for Rivian’s upcoming R2 electric SUV were briefly visible via the source code on the company’s teaser site, Electrek reports. These include a range of up to 330 miles, a 0-60mph acceleration in three seconds, five seats, and a starting price of $47,000 (though a $47,500 starting price was reportedly also mentioned on other parts of the site). Deliveries are expected to start in 2026, per the website’s code, which is in line with previous reports.
Electrek notes that other specs revealed in the website’s code include support for both NACS and CCS charging stations, “powered rear glass,” and a front trunk that’s big enough to store the SUV’s bike mount system when not in use. The site’s code reportedly listed the wheelbase of the R2 SUV as 115.6 inches, down from the 121.1-inch wheelbase of the R1S.
Working at the cutting edge of AI is unfortunately expensive. For example,In addition to DeepMind, Google also has Google Brain, Research, and Cloud. And TensorFlow, TPUs, and they own about a third of all research (in fact, they hold their own AI conferences).
I also strongly suspect that compute horsepower will be necessary (and possibly even sufficient) to reach AGI. If historical trends are any indication, progress in AI is primarily driven by systems – compute, data, infrastructure. The core algorithms we use today have remained largely unchanged from the ~90s. Not only that, but any algorithmic advances published in a paper somewhere can be almost immediately re-implemented and incorporated. Conversely, algorithmic advances alone are inert without the scale to also make them scary.
It seems to me that OpenAI today is burning cash and that the funding model cannot reach the scale to seriously compete with Google (an 800B company). If you can’t seriously compete but continue to do research in open, you might in fact be making things worse and helping them out “for free”, because any advances are fairly easy for them to copy and immediately incorporate, at scale.
A for-profit pivot might create a more sustainable revenue stream over time and would, with the current team, likely bring in a lot of investment. However, building out a product from scratch would steal focus from AI research, it would take a long time and it’s unclear if a company could “catch up” to Google scale, and the investors might exert too much pressure in the wrong directions.The most promising option I can think of, as I mentioned earlier, would be for OpenAI to attach to Tesla as its cash cow. I believe attachments to other large suspects (e.g. Apple? Amazon?) would fail due to an incompatible company DNA. Using a rocket analogy, Tesla already built the “first stage” of the rocket with the whole supply chain of Model 3 and its onboard computer and a persistent internet connection. The “second stage” would be a full self driving solution based on large-scale neural network training, which OpenAI expertise could significantly help accelerate. With a functioning full self-driving solution in ~2-3 years we could sell a lot of cars/trucks. If we do this really well, the transportation industry is large enough that we could increase Tesla’s market cap to high O(~100K), and use that revenue to fund the AI work at the appropriate scale.
I cannot see anything else that has the potential to reach sustainable Google-scale capital within a decade.
