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Alexandria Ocasio-Cortez Declares Victory after Amazon Yanks HQ2 from New York

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US House Rep. Alexandria Ocasio-Cortez wasted no time in pointing out victory after Amazon subsidized out of a $three billion deal that may have observed the Jeff Bezos-led tech conglomerate identify its much-coveted HQ2 in New York.

Writing on Twitter, the freshman congresswoman mentioned that the grassroots marketing campaign to kick Amazon out of Queens had demonstrated that “anything is possible.”

She mentioned:

“Anything is possible: today was the day a group of dedicated, everyday New Yorkers & their neighbors defeated Amazon’s corporate greed, its worker exploitation, and the power of the richest man in the world.”

CCN up to now reported that Ocasio-Cortez, at the side of a lot of different native politicians and hobby teams, had spearheaded resistance to Amazon’s plan to put part of its 2d company headquarters in Long Island City. That complicated would have housed 25,000 workers.

“Can everyday people come together and effectively organize against creeping overreach of one of the world’s biggest corporations?,” she requested remaining week. “Yes, they can.”

Ocasio-Cortez and others vehemently criticized the just about $three billion in tax incentives that state and native officers had agreed to offer Amazon in change for opening a sprawling company campus in Queens.

Still, supporters together with New York Governor Andrew Cuomo mentioned that HQ2 would deliver the area vital advantages, together with financial variety. New York City Mayor Bill de Blasio argued that the deal would yield a staggering 9:1 go back on funding.

Over at Curbed, Diana Budds has an offer for a way the federal government must spend that cash as a substitute: repair the subway.

Amazon nonetheless plans to construct a 2d 25,000 worker complicated in northern Virginia’s Crystal City however claims that it’ll no longer reopen the seek for a location to put the opposite part of HQ2. That most probably received’t prevent Jeff Bezos and corporate’s former suitors from lining again as much as win its affections.

Developing…Check again for updates.

Alexandria Ocasio-Cortez Image from Alex Wong / Getty Images / AFP 

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Newsflash: Amazon Leads Massive $700 Million Funding Round in Tesla Competitor Rivian

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Elon Musk and Tesla had higher be careful as a result of tech conglomerate Amazon simply led an enormous $700 million investment spherical in electrical automobile competitor Rivian.

Amazon Leads Major Funding Round in EV Startup Rivian

The Michigan-based Rivian has sought to carve out a phase of the burgeoning electrical automobile marketplace via focusing its efforts on construction pickup vehicles and SUVs.

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Alongside Amazon, the investment spherical incorporated participation from current Rivian traders. The corporate didn’t reveal its new valuation.

“This investment is an important milestone for Rivian and the shift to sustainable mobility,” mentioned RJ Scaringe, Rivian Founder and CEO. “Beyond simply eliminating compromises that exist around performance, capability and efficiency, we are working to drive innovation across the entire customer experience. Delivering on this vision requires the right partners, and we are excited to have Amazon with us on our journey to create products, technology and experiences that reset expectations of what is possible.”

Should Tesla be Worried?

amazon tesla rivian elon musk

Morgan Stanley’s Adam Jonas singled out Rivian as a possible foil to Tesla’s plan to dominate the electrical automobile marketplace. | Source: Shutterstock

CCN up to now reported that analysts together with Morgan Stanley’s Adam Jonas had singled out Rivian as a possible foil to Tesla’s plan to dominate the electrical automobile marketplace.

“We believe companies like Rivian will take elevated importance in investors’ minds as EVs become the focus of OEM investment and strategy,” Jonas said, including that Morgan Stanley has a “strong belief that all-electric vehicle architecture will need a truly ‘clean sheet’ approach” to automobile building, versus “adapting existing legacy [original equipment manufacturer] architecture.”

Elon Musk has mentioned that Tesla plans to liberate an EV pickup truck able to withstanding the calls for of development websites and different heavy-duty environments, although this automobile has now not but been officially introduced. According to EV weblog Electrek, the automobile’s unveiling may just come once summer time 2019.

tesla stock price

If Tesla traders are interested by Amazon’s funding in Rivian, they aren’t demonstrating it via dumping their stocks. Tesla inventory is up 0.nine % this morning, outperforming the Nasdaq 100 via a substantial margin.

Unlike Tesla, Rivian has now not but begun to ship automobiles to shoppers. The corporate mentioned that its R1T pickup truck and R1S SUV – every of which boasts a variety of greater than 400 miles on a unmarried fee – will start transport to US consumers in overdue 2020.

If Tesla traders are involved, alternatively, they aren’t demonstrating it via dumping their stocks. Tesla inventory is up 0.nine % this morning, outperforming the Nasdaq 100 via a substantial margin.

Crowded EV Market Now Flush with Cash

softbank uber nuro

Autonomous supply startup Nuro simply raised just about $1 billion from SoftBank. | Source: Andrew Brown / The Kroger Co. by way of AP

Competition inside the EV marketplace is obviously ramping up.

Just remaining week, Softbank – Uber’s biggest shareholder – plowed $940 million into Nuro, an self sufficient automobile startup whose self-driving electrical trucks purpose to disrupt the grocery supply business.

Legacy carmakers have additionally begun to allocate extra sources into construction out their electrical lineups. Most significantly, GM not too long ago revealed that it might produce an all-electric Cadillac.

Amazon itself not too long ago made a high-profile funding in Aurora, an self sufficient automobile generation startup based via former Tesla and Waymo staff.

Developing…Check again for updates.

Featured Image from REUTERS / Mike Blake

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Christmas Shopping: Where to Buy With Crypto This Festive Season

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Christmas is just around the corner, which means it’s time to get your holiday shopping out of the way for good. And while online retail giants such as Amazon and eBay have made online purchasing wonderfully simple for the average person, they do not really cater to a growing population of individuals who are looking to use their crypto for digital payment purposes.

While a number of startups have entered this space over the last three to four years due to issues relating to market volatility, certain remaining setbacks need to be tackled before the sector can really flourish.

But setting the issues aside, here is a list of online retailers that accept not just Bitcoin (BTC), but a whole host of other popular crypto assets.

Overstock.com

Overstock.com is widely considered to be one of the best shopping destinations for Bitcoin holders. For Christmas shoppers especially, this website is an absolute treasure trove, as it allows users to purchase items ranging from television sets to furniture to golfing equipment using crypto. Not only that, even the checkout process is seamless, since all one has to do is click on the “Pay with Bitcoin” button and follow the instructions.

And while Overstock does not allow BTC payments on its mobile site, it does enable customers to use their Bitcoin in conjunction with any other valid gift cards, coupons, and credit points that they may own. Additionally, in the event of a refund, Overstock issues the exact amount of crypto per its price at the time of the transaction.

Alagoria

When it comes to making purchases from retail giants like Walmart, Home Depot and Amazon, most crypto enthusiasts have to first liquidate their coins and then process their payments in fiat. However, this holiday season, Alagoria is allowing its customers to get a 10% discount on all purchases made via HomeDepot and Walmart using cryptocurrencies.

To shop on Alagoria, customers simply need to copy and paste the URL of a product they want to buy into the search bar on the platform. They can then proceed to checkout and pay for the item using the crypto of their choice — with the conversion rate set before the payment takes place.

Once this process is done, Alagoria notifies customers of their completed orders and provides a tracking number. Most items are usually delivered within a period of three to four business days.

Lastly, the company allows customers to use discounted gift cards from Walmart and Home Depot to fulfill order payments, and even have an open buy-back offer on most gift cards from the aforementioned retailers at the moment.

eGifter

People looking to present their loved ones with premium gift cards can use eGifter, a platform that enables customers to buy a wide range of gift cards from big-name brands like Amazon, Apple, Macy’s, Adidas and GameStop. Items can be purchased using digital currencies (like BTC, BCH, Dash, LTC and ETH) and can be obtained in either physical or digital form.

Also, quite like many other retail firms today, eGifter makes use of an internal point system, wherein regular customers can collect eGifter credit every time they buy a gift card. These points can then be used during future checkouts in lieu of instant discounts and other monetary benefits.

Bitcoin Superstore

Florida-based Bitcoin Superstore is the perfect shopping avenue for people looking to make purchases from Amazon.com using their crypto savings. Even though the platform has its headquarters in the United States, it extends its shipping services to more than 50 countries across the globe.

Not only that, for couples and solo travelers looking to explore the world at this time of year, the platform enables flights and hotels to be booked through mainstream platforms such as Expedia or Priceline.

Navigating and operating Bitcoin Superstore is quite simple, as customers only have to copy and paste a product URL in the provided search column and add the price so the platform can automatically calculate the applicable sales tax and present the user with the final amount to be paid.

Bitcoin Superstore currently supports a large number of cryptocurrencies, including many popular ones. Not only that, but the website also sells a wide range of gift cards and discount coupons for merchants from industries such as electronics, travel and hospitality. 

CheapAir

People looking to make a quick holiday getaway this Christmas can explore CheapAir.com, since it currently has a number of discount deals on flight tickets to destinations around the globe.

However, what makes this platform really stand out from the rest is the fact that it allows users to complete their purchases via Bitcoin. The entire process is quite straightforward and based on the digital currency’s USD value at the time of booking.

Newegg

For tech enthusiasts looking to buy the latest electronics this Christmas season, Newegg is the place to be. The website offers users with a wide range of gadgets ranging from high-end gaming laptops, desktop computers, hardware components and audio/video peripherals. Additionally, the platform also offers customers quality products from big-name brands like Microsoft, GigaByte, Corsair, AMD, Msi and Seagate amongst others.

Regarding how the payment process works, customers can proceed to initiate a BTC payment after deciding on a product by simply scanning the provided QR code and sending the amount due in crypto to the given address. After the funds have been moved, the Newegg team sends an email confirmation containing all of the purchase and delivery details.

Olodolo

Christmas shoppers looking to buy clothing, jewelry, cosmetics and fashion accessories can consider Olodolo — a platform that specializes in helping people buy items on Aliexpress using cryptocurrencies.

The checkout process is similar to that of other retailers, and delivery is available to a large number of countries worldwide. All payments are processed by a POS operator called Coinpayments, and the final price (including shipping and other associated taxes) is displayed at the end along with the three cryptocurrencies supported — Bitcoin, Litecoin and Ethereum — that a customer can choose from to complete the process with.

Forra

Forra can be thought of as the Ebay equivalent of Olodolo, as it allows customers to purchase a wide range of Ebay listings using crypto assets such as BCH, BTC, LTC and ETH. In order to ensure the security of its internal monetary transactions, Forra makes use of an escrow system and charges users a flat 3% fee on each individual purchase.

For Christmas shoppers looking to buy electronic items (computers and laptops in particular), software, books and game titles, Forra is definitely a website worth checking out.

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50% Stock Surge Will Launch Amazon to a $1.3 Trillion Valuation: Analyst

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By CCN: Billionaire Jeff Bezos should buckle up because Amazon stock will surge 50% over the next year to top $2,750 a share. That’s the bold prediction of Michael Levine, a senior analyst with New York equity-research firm Pivotal Research Group.

Analyst: Amazon’s Valuation Will Soar to $1.35 Trillion

Levine’s bullish Amazon price target is well above the second-highest forecast of $2,500 by Cowen, according to Tip Ranks.

Using Levine’s projection, that means Amazon — which is currently valued at about $893 billion — could rocket to $1.35 trillion by 2020.

amazon stock price targets Jeff Bezos

Wall Street analysts have set a bullish near-term price target for Amazon stock. | Source: Tip Ranks

‘A Must-Own Name With Huge Upside Potential’

Amazon stock will soar because it has “the highest-quality management and franchise within global internet,” Levine wrote in an investor note. Accordingly, it is “a must-own name with huge upside even from here.”

Moreover, Levine says Amazon’s move toward one-day shipping is a major catalyst that’s propelling it to “owning the consumer’s wallet.” Levine says even in spite of Amazon stock’s recent slowdown, it’s still set to explode in the near term.

“Despite deceleration, AMZN remains the most open-ended story in large-cap tech.”

Levine is also bullish about Amazon Web Services’ cloud business, which he claims “will surprise” investors with its meteoric growth.

Amazon stock price chart jeff bezos

Amazon stock has been down in May, but it’s up over the past six months. And analysts say that’s due to CEO Jeff Bezos. | Source: Yahoo Finance

Warren Buffett: Amazon Surpassed My Expectations

Michael Levine’s exuberant outlook echoes the unbridled optimism expressed by billionaire investor Warren Buffett. In early-May, Buffett revealed that he now owns Amazon stock and was “an idiot” for not investing in the e-commerce giant sooner.

As CCN reported, Buffett said he regretted underestimating Jeff Bezos and his relentless will to win.

“I’ve been an idiot for not buying [Amazon stock sooner].”

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Jim Cramer: Jeff Bezos Is Relentless

In 2018, Buffett gushed that Amazon had exceeded his wildest expectations, and said he regretted dismissing it for so long.

“It’s far surpassed anything I would have dreamt could have been done. I had no idea that it had the potential. I blew it!”

If Amazon stock is soaring and its dominance continues to mushroom, it’s because its relentlessly ambitious CEO, Jeff Bezos, takes a ruthless approach to annihilate his competitors.

In April 2019, Amazon’s Whole Foods subsidiary launched a scorched-earth price war to decimate rival Walmart, which has a successful grocery-shopping business.

To this end, Amazon slashed prices on 500 grocery items at Whole Foods to chip away at Walmart’s market share. That was the third round of price cuts the specialty grocer instituted since being acquired by Amazon in 2017.

CNBC commentator Jim Cramer, who owns Amazon stock, says Jeff Bezos will stop at nothing to nuke his foes.

“They hate, hate, hate Walmart! Walmart is the biggest grocery chain in the country. Amazon will stop at nothing to take away the [market] share that Walmart has gained.”

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Samsung, Amazon, and Now Bosch, What’s Going on Behind the Scenes?

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Days after Amazon the retail behemoth made its Amazon Managed Blockchain available, Ethereum is once more on the limelight. Bosch, the automotive giant, has also announced that it is running trials on Ethereum.  Amazon Web Services released AMB to enable its clientele to set up blockchain-based platforms in their organizations.

The AMB platform uses both HyperLedger and Ethereum open source frameworks, and Amazon claims that its Blockchain is also scalable. The blockchain-as-a-service platform will enable the fast development of blockchain networks by eliminating the need for software, hardware as well as certificates for network settings configurations or access control.

Bosch On Ethereum

Bosch, however, has not yet made it clear to the public, how they intend to incorporate the Ethereum blockchain in its technology. Nevertheless, pundits who have been keeping a close eye on the multinational predict that Bosch has a use case with its charging ports for electric cars. The trials for the charging ports was announced in the Berlin BCW2019, and they are geared towards autonomously communicating and transacting with vehicles, which has been demonstrated as possible before on Ethereum.

Bosch has also mentioned on its website that “the Ethereum platform allows such projects, including for example, in the case of Bosch applications, autonomously charging and paying EV.” The multinational has however been on IOTA being a major proponent for IoT adoption.  The firm is therefore quite at home with distributed ledger technology using IOTA’s Tangle whose model is ideally suited for the growing IoT economy.

The auto manufacturer has also vowed that it will stand against censorship and defend the openness of IoT.  The company seems apprehensive about the potential and impact of retrogressive reactions to borderless technology such as blockchain. The Bosch CTO Dr. Michael Bolle said that “we cannot accept a situation in which the overwhelming reaction to digital innovations is mistrust and fear.” 

Ethereum Foundation Setting Aside $30 Million For Ethereum 2.0

The South Korean king of electronics, Samsung is said to be closer to issuing its own token and has been building a mainnet based on the Ethereum blockchain. The firm has already unveiled its first blockchain project, the Samsung Galaxy S10 with crypto private keys, dApps, and digital signatures support. The firm also has a crypto wallet compatible with ETH and other ether-based ERC20 tokens.

The interest these large firms have taken on Ethereum has been fueling its slow but steady rise and as the good news, keeps streaming in the potential for even higher ETH values is on the horizon. The Ethereum foundation, for instance, is setting aside $30 million to boost the network with amount is geared towards Ethereum 2.0 and Plasma upgrades.

Ethereum 2.0 is a series of updates that will be address scalability, cementing Ethereum’s position. The updates will deal with the scaling and mining issues that hamper the network. It will also address security issues with features such as Raiden, Sharding, Casper FFG, and Plasma, amongst others.

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Alexandria Ocasio-Cortez’s Cringeworthy Reaction to Amazon’s HQ2 Pullout Proves How out of Touch She Really Is

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U.S. House Rep. Alexandria Ocasio-Cortez and different New York politicians simply chased off 25,000 Amazon jobs that may have created salaries of a minimum of $115,000 jobs every. Unfazed and stunningly smug, those politicians are taking a victory lap following their doubtful luck.

AOC’s Cringeworthy Response To Amazon Decision

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CCN reported previous lately that Amazon had scrapped the spacious campus it had deliberate to construct in Long Island City, Queens, which might have created kind of 25,000 well-paying jobs. The residual task advent used to be estimated to be an extra 67,000 jobs.

The cheers that adopted Amazon’s determination to drag out of New York are inaccurate and tough. Too many politicians appear tone-deaf to conventional beliefs, like task advent, of their relentless effort to denigrate anything else comparable to important cash.

Following Amazon’s announcement, probably the most loudest cheers got here from Alexandria Ocasio-Cortez. The freshman member of the U.S. House of Representatives had up to now described the e-commerce large’s HQ2 plans as “creeping overreach.”

Thursday, she proclaimed victory and confirmed as soon as once more she doesn’t see the destruction her inaccurate concepts may cause.

She tweeted:

If that wasn’t sufficient, she adopted up with feedback that point out it’s about her, no longer her constituents.

A reporter stuck up with Ocasio-Cortez Tuesday, and he or she gave the impression oblivious to the truth that her district is out hundreds of jobs and billions of bucks. Even extra annoying is her advice that she possesses a concrete, viable plan that might be higher than Amazon’s company plans.

She stammered to the reporter:

“We were subsidizing those jobs so for… the city was paying for those jobs. So frankly, if we were willing to give Amazon three…if we were willing to give away $3 billion for this deal, we could invest those $3 billion in our district ourselves if we wanted to.”

Amazon Stops Just Short of Calling Out Ocasio-Cortez via Name

amazon hq2 new york queens

Amazon will now not construct a 25,000-employee company campus in Queens. | Source: Shutterstock

In explaining why it couldn’t transfer ahead with construction in New York, Amazon strikingly mentioned it used to be because of the politicians.

In its statement in regards to the cancellation, Amazon mentioned:

“While polls show that 70% of New Yorkers support our plans and investment, a number of state and local politicians have made it clear that they oppose our presence and will not work with us to build the type of relationships that are required to go forward with the project we and many others envisioned in Long Island City.”

On the other finish of the spectrum, New York City Mayor Bill de Blasio attacked Amazon for forsaking its HQ2 plans.

He mentioned:

“You have to be tough to make it in New York. We gave Amazon the opportunity to be a good neighbor and do business in the greatest city in the world. Instead of working with the community, Amazon threw away that opportunity.”

Maybe Ocasio-Cortez Should Retake Basic Math

Once once more, Ocasio-Cortez falls a little bit quick in simple arithmetic right here. Even CNBC’s Andrew Ross Sorkin took her to process. He identified that this might were a subsidy provided that the state were given not anything again for giving it.

Sorkin expressed his war of words on the subject of the massive overlooked alternative.

“It’s one thing to win the war on Twitter, it’s another when it happens in real life, and it happens to real people with real jobs and real families. I don’t get that upset about a lot of things. “[This] wins a great Twitter war. It looks great on Twitter, but in real life, it’s a very different story.”

New York to Miss out on $27 Billion from Amazon HQ2

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The politicians appear to be lacking some just right out of date economics good judgment. Sorkin broke it down like this. The $three billion in subsidies will supply a large go back on funding within the type of financial spending and enlargement.

“[The state] would have effectively been paying out $3 billion in incentives for what would have likely been the equivalent of $27 billion over 25 years. You can play with the math, and you can tell me that there were going to be additional costs, and there likely would have been, but if I handed you $3 billion and you gave me $25 billion back, or you gave me $15 billion back, or $10 billion back, that could have been used for roads, schools, police, and subways, I think that’s a good deal.”

That slight from the De Blasio used to be much more unsettling since the mayor had ostensibly negotiated the deal in just right religion.

“Then it seems he hit them on the way out the door today.”

These reactions are foolish, infantile and no longer productive. Beyond the lack of Amazon and its related $27 billion in financial enlargement, they sign to different main firms that most likely states like progressive-leaning New York aren’t as pleasant to companies as officers appear to hoodwink other folks into believing.

Lots Of Cheering Now Turning Into Lots of Crying For Others

As the politicians bask within the glory of working off a significant company that may have equipped jobs for his or her constituents, they appear to be ignoring others who will probably be negatively affected.

A large number of strikes had began to be made after Amazon introduced plans that it could construct in Long Island City. For instance, over the process the 14 weeks for the reason that announcement, contracts to shop for houses, most commonly condos, jumped a mind-boggling 181% in comparison to the similar duration a yr in the past, in keeping with CNBC. Now it’s a must to wonder whether the ones individuals who signed the ones contracts will attempt to pull out.

Other Finalists Put Up ‘We Still Want You’ Signs

Long Island City gained out over 19 different towns that Amazon selected as finalists that sought after the corporate to construct their headquarters of their locales.

Arlington, Virginia’s native govt reassured citizens that Amazon nonetheless deliberate to continue with its new HQ2 campus in Crystal City.

They tweeted:

Summing up the fallout for New York City, Council Minority Whip Joe Borelli mentioned it just about completely, in an interview with Fox Business:

“Amazon was facing local politicians who weren’t going to negotiate in good faith for the real challenges that would befall anybody developing a large area of the city.”

Disclaimer: The perspectives expressed within the article are only the ones of the writer and don’t constitute the ones of, nor must they be attributed to, CCN.

Alexandria Ocasio-Cortez Image from Win McNamee / Getty Images / AFP

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