tech

5/30/25

JPM: Trump’s pending legislation threatens more than half of Tesla’s profits

Trump’s “big, beautiful bill” could take a big, beautiful bite out of Tesla’s bottom line, or about 52% of the electric vehicle company’s 2024 EBIT, according to a report today from JPMorgan analyst Ryan Brinkman.

The legislation would get rid of the $7,500 federal tax credit EV buyers receive, resulting in a $1.2 billion (19% of its EBIT) headwind for the company thanks to lower demand and margins. Additionally, the legislation would outlaw the California Air Resources Board’s ZEV program, which furnishes Tesla with regulatory credits. Without them, Tesla would have posted a loss last quarter. Brinkman estimates that would add an additional $2 billion hit (33% of EBIT).

“Tesla appears to have the most to lose from the shifting regulatory backdrop,” Brinkman wrote. Of course, Tesla’s shares aren’t trading on fundamentals.

“This looks dead and Tesla shares were up,” Brinkman said, referring to both of the credits on a webinar for his report today. “The stock market is completely oblivious to this development.”

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tech

6h

Meta: Facebook is for the children, basically

Meta has a youth problem that it keeps trying to fix using old stuff. This time it’s trying to bring back “pokes” — a feature from yesteryear the social media company had buried that allows users to digitally nudge others without having to say anything.

To make the feature shiny and new, the company is adding “counts,” along with a dedicated poke button and page, so users can keep track of who they poked or were poked by and how much.

Meta is hoping the updated feature will lead to more usage from young people, who’ve already started to adopt the practice thanks to previous pushes by Meta. Social media companies, like Snapchat and TikTok, have previously gotten into hot water before for similar gamification elements like “streaks” that critics have said are addictive.

The average age of Facebook users has been ticking up for years as the company loses young people to newer services, including Instagram, which Meta bought more than a decade ago, back when it was still called Facebook. According to the latest data from Pew Research Center, released last winter, teens were way less inclined to use Facebook than TikTok, Instagram and Snapchat.

Facebook is trying to make 'pokes' happen again | TechCrunch

Facebook is trying to make 'pokes' happen again | TechCrunch

Meta is hoping the updated feature will lead to more usage from young people, who’ve already started to adopt the practice thanks to previous pushes by Meta. Social media companies, like Snapchat and TikTok, have previously gotten into hot water before for similar gamification elements like “streaks” that critics have said are addictive.

The average age of Facebook users has been ticking up for years as the company loses young people to newer services, including Instagram, which Meta bought more than a decade ago, back when it was still called Facebook. According to the latest data from Pew Research Center, released last winter, teens were way less inclined to use Facebook than TikTok, Instagram and Snapchat.

tech

23h

OpenAI is working on a “jobs platform” for people who lose their jobs to AI

OpenAI has some good news and bad news for workers. The bad news? AI will probably take your job. The good news? The company will offer AI-powered classes to retrain you, and try to help you get a job as a certified AI pro.

The company announced plans for the OpenAI Jobs Platform, in partnership with Walmart, John Deere, and Accenture, to help workers looking to level up their AI skills, and match them with companies seeking such candidates.

In a blog post announcing the plan, the company wrote:

“But AI will also be disruptive. Jobs will look different, companies will have to adapt, and all of us—from shift workers to CEOs—will have to learn how to work in new ways. At OpenAI, we can’t eliminate that disruption. But what we can do is help more people become fluent in AI and connect them with companies that need their skills, to give people more economic opportunities. “

Using AI-powered instruction, users can receive certification for their training, and OpenAI said it is committing to certifying 10 million Americans on its platform by 2030.

Expanding economic opportunity with AI

Expanding economic opportunity with AI

The company announced plans for the OpenAI Jobs Platform, in partnership with Walmart, John Deere, and Accenture, to help workers looking to level up their AI skills, and match them with companies seeking such candidates.

In a blog post announcing the plan, the company wrote:

“But AI will also be disruptive. Jobs will look different, companies will have to adapt, and all of us—from shift workers to CEOs—will have to learn how to work in new ways. At OpenAI, we can’t eliminate that disruption. But what we can do is help more people become fluent in AI and connect them with companies that need their skills, to give people more economic opportunities. “

Using AI-powered instruction, users can receive certification for their training, and OpenAI said it is committing to certifying 10 million Americans on its platform by 2030.

tech

23h

Trump administration plans to loosen rules for self-driving cars, exempt them from windshield wipers

The National Highway Traffic Safety Administration (NHTSA) said Thursday it’s planning to propose three new rules that will make it easier for self-driving car companies to develop their vehicles more cheaply. Those include getting rid of requirements that were mandatory for human drivers, including gear shift sticks, windshield defrosting and defogging systems, and some lighting equipment.

“Federal Motor Vehicle Safety Standards were written for vehicles with human drivers and need to be updated for autonomous vehicles. Removing these requirements will reduce costs and enhance safety,” NHTSA Chief Counsel Peter Simshauser said in a statement.

Earlier this year NHTSA announced it was loosening other rules around autonomous cars, including exempting them from certain federal safety rules for research and demonstration purposes. This time around, however, stocks like Tesla, which is banking on autonomous driving as part of the future of the company, aren’t moving as much on the news.

Trump’s Transportation Secretary Sean P. Duffy Advances AV Framework with Plans to Modernize Safety Standards | NHTSA

“Federal Motor Vehicle Safety Standards were written for vehicles with human drivers and need to be updated for autonomous vehicles. Removing these requirements will reduce costs and enhance safety,” NHTSA Chief Counsel Peter Simshauser said in a statement.

Earlier this year NHTSA announced it was loosening other rules around autonomous cars, including exempting them from certain federal safety rules for research and demonstration purposes. This time around, however, stocks like Tesla, which is banking on autonomous driving as part of the future of the company, aren’t moving as much on the news.

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