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Getty Images and Shutterstock Agree To Merge

Slashdot.org - Tue, 01/07/2025 - 09:40
Getty Images and Shutterstock have agreed to combine in a deal that creates a $3.7 billion visual content company. From a report: The deal underscores the soaring demand for images and related content from content creators and platforms. Getty CEO Craig Peters will remain chief executive of the combined business, which will trade under the GETY ticker symbol.

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Microsoft Plans $3 Billion AI, Cloud Investment in India

Slashdot.org - Tue, 01/07/2025 - 09:00
Microsoft plans to invest $3 billion to expand its artificial intelligence and cloud Azure services in India, turning to the world's most populous nation to fuel its revenue growth engine. From a report: The firm, which has been operating in India for more than two decades, will also train an additional 10 million people in the country with AI, Microsoft CEO Satya Nadella said at an event in Bengaluru Tuesday. "The investments in infrastructure and skilling we are announcing today reaffirm our commitment to making India AI-first, and will help ensure people and organizations across the country benefit broadly," said Nadella. "The diffusion rate of AI in India is exciting." India is a key overseas market for American tech giants that have poured tens of billions of dollars in building and scaling their operations in the South Asian market over the past two decades as they work to court businesses serving hundreds of millions of users.

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Instagram Begins Randomly Showing Users AI-Generated Images of Themselves

Slashdot.org - Tue, 01/07/2025 - 08:00
An anonymous reader quotes a report from 404 Media: Instagram has begun testing a feature in which Meta's AI will automatically generate images of users in various situations and put them into that user's feed. One Redditor posted over the weekend that they were scrolling through Instagram and were presented an AI-generated slideshow of themselves standing in front of "an endless maze of mirrors," for example. "Used Meta AI to edit a selfie, now Instagram is using my face on ads targeted at me," the person posted. The user was shown a slideshow of AI-generated images in which an AI version of himself is standing in front of an endless "mirror maze." "Imagined for you: Mirror maze," the "location of the post reads." "Imagine yourself reflecting on life in an endless maze of mirrors where you're the main focus," the caption of the AI images say. The Reddit user told 404 Media that at one point he had uploaded selfies of himself into Instagram's "Imagine" feature, which is Meta's AI image generation feature. People on Reddit initially did not even believe that these were real, with people posting things like "it's a fake story," and "I doubt that this is true," "this is a straight up lie lol," and "why would they do this?" The Redditor has repeatedly had to explain that, yes, this did happen. "I don't really have a reason to fake this, I posted screenshots on another thread," he said. 404 Media sent the link to the Reddit post directly to Meta who confirmed that it is real, but not an "ad." "Once you access that feature and upload a selfie to edit, you'll start seeing these ads pop up with auto-generated images with your likeness," the Redditor told 404 Media. A Meta spokesperson told 404 Media that the images are not "ads," but are a new feature that Meta announced in September and has begun testing live. Meta AI has an "Imagine Yourself" feature in which you upload several selfies and take photos of yourself from different angles. You can then ask the AI to do things like "imagine me as an astronaut." Once this feature is enabled, Meta's AI will in some cases begin to automatically generate images of you in random scenarios that it thinks are aligned with your interests.

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America Is Stuck With an Elevator Crisis

Slashdot.org - Tue, 01/07/2025 - 05:00
America's aging elevators are facing significant repair delays and rising costs, creating accessibility challenges and leaving vulnerable populations stranded. Experts argue that implementing federal standards and modernizing systems could address these issues. However, fixing the nation's approximately one million elevators is "becoming a heavy lift," reports Axios. From the report: America's aging elevators are time-consuming and costly to fix. The workforce of technicians who know how to fix them is aging. And buildings with elevators in need of repair often need to wait ages for replacement parts due to arcane supply-chain issues. [...] Elevator parts shortages appear to stem largely from two issues: Parts suppliers often prioritize their biggest customers, which in this case happens to be builders in China, where the vast majority of the world's new elevators are installed, according to [Stephen Smith, executive director of the Center for Building in North America]. And parts are often no longer available for aging -- and often obsolete -- elevators, meaning they often have to be custom made. "In some cases, the entire elevator system may need to be modernized or replaced, leading to substantial costs and potential disruptions to building operations," an advisory called The Elevator Consultants reports. A patchwork of state regulations and union rules make it laborious for building owners and contractors to comply with current standards, according to Smith. who said the U.S. would benefit from federal elevator standards. "The feds have not involved themselves in regulations of the construction industry since Reagan took an axe to it in the 1980s," Smith said. The good news is that "about 80 percent of reliability issues can be solved by replacing the doors," Joseph Bera, at VP at Schindler Elevators, tells commercial real estate publication Propmodo.

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MMB Portfolio: Should I Own Less International Stocks? (2024 Year End)

MyMoneyBlog.com - Tue, 01/07/2025 - 02:00

The most common reader question about my personal portfolio is definitely the fact that the allocation to international stocks has been a drag on performance relative to owning 100% US stocks. This is kind of a repeat topic, so I won’t dive into the full debate again, but wanted to offer some expanded and updated thoughts to my response to a comment from reader John. All numbers below are taken as of January 2025.

The divergence between the performance of US stocks and the rest of the world started around 2009, which of course coincided with most of my investing lifetime so far. 😒 Here’s a chart from the Bloomberg article Global Diversification Has Disappointed. Don’t Give Up on It (gift article for next 7 days). Worth a read.

As noted in my portfolio updates, my asset allocation floats along with total world market cap breakdown, as tracked according to the Vanguard Total World Stock ETF (VT). I remember a time when it was only 45% US and 55% Rest of the World (World ex-US). As of the end of 2024, it is now at 65% US and 35% World ex-US.

In practical terms, this means that I used to own about the same amount of Vanguard Total US Stock Market ETF (VTI) and Vanguard Total International Stock ETF (VXUS), a 1:1 ratio. But as of the end of 2024, I now own about double the amount of VTI relative to VXUS, a 2:1 ratio. So my performance isn’t exactly that of the chart above due to ongoing investments over time, but it’s still been much lower than if I used owned 100% US stocks.

I can’t change the past. The question is: Should I change my asset allocation now?

Let’s look closer. A significant chunk (not all) of the outperformance has been due to a higher P/E ratio. Below is a Yardeni chart of the P/E ratio of US stocks vs. International stocks. The gap looks like the greatest in 25 years. Can this trend continue? I don’t know, and I don’t think anyone really knows.

Are US stocks simply a better investment, forever? They might be. The US definitely offers a very business-friendly environment overall. That’s why I just let it float. If the US manages to continue this outperformance in the future, then one day my allocation might grow to 75%/25% (3:1 ratio) or even 80%/20% (4:1 ratio). My portfolio adjusts.

This is the same theory as owning all of the companies in a market-weighted S&P 500 index fund: you own all the winners, and you also own the losers, but owning the winners is good enough to pull everything up overall. If the US keeps being a huge winner, I’ll own a lot of the US. If not, I still own the entire haystack. Therefore, I plan to continue holding a chunk of international stocks according to the investable market-cap float with maybe a slight home bias.

I could sit here and lament how big my portfolio would have been if I had bet on 100% US for the last 15 years, but honestly the stock markets have been kind to me as a business owner (although I’d say at the expense of the average worker bee) even with my international stocks and bond holdings. The 10-year trailing average annualized return has been 9.33% for VT vs. 12.50% for VTI. Owning a mix of winners and losers has still worked out just fine, and I was covered in case history turned out differently. I have no complaints.

Photo by Andrew Neel on Unsplash

Categories: Finance

Outgoing NASA Administrator Urges Incoming Leaders To Stick With Artemis Plan

Slashdot.org - Tue, 01/07/2025 - 02:00
Before NASA Administrator Bill Nelson retires in a couple of weeks, he has one final message for the next administration: Don't give up on the agency's Artemis Program to return humans to the Moon. In an interview with Ars Technica's Eric Berger, Nelson discussed his time in office, the major decisions he made, and his concerns for the space agency's future under the Trump administration. Here's an excerpt from the interview: Ars: I wanted to start with the state of Artemis. You all had an event a few weeks ago where you talked about Artemis II and Artemis III delays. And you know, both those missions have slipped a couple of years now since you've been administrator. So I'm just wondering, do you know how confident we should be in the current timeline? Bill Nelson: Well, I am very confident because this most recent [delay] was occasioned by virtue of the heat shield, and it has been unanimous after all of the testing that they understand what happened to Orion's heat shield. The chunks came off in an irregular pattern from the Artemis I heat shield. With the change in the re-entry profile, they are unanimous in their recommendation that we can go with the Artemis II heat shield as it is. And I must say that of the major decisions that I've made, that was an easy one for me because it was unanimous. When I say it was unanimous, it was unanimous in the IRT, the independent review team, headed by Paul Hill. It wasn't to begin with, but after all the extensive testing, everybody was on board. It was unanimous in the deputy's committee. It was unanimous in the agency committee, and that brought it to me then in the Executive Council, and it was unanimous there. So I'm very confident that you're going to see Artemis II fly on or around April of 2026, and then if the SpaceX lander is ready, and that, of course, is a big if -- but they have met all of their milestones, and we'll see what happens on this next test... If they are ready, I think it is very probable that we will see the lunar landing in the summer of 2027. Ars: Do you think it's appropriate for the next administration to review the Artemis Program? Bill Nelson: Are you implying that Artemis should be canceled? Ars: No. I don't think Artemis will be canceled in the main. But I do think they're going to take a look at the way the missions are done at the architecture. I know NASA just went through that process with Orion's heat shield. Bill Nelson: Well, I think questioning what you're doing clearly is always an issue that ought to be on the table. But do I think that they are going to cancel, as some of the chatter out there suggests, and replace SLS with Starship? The answer is no. Ars: Why? Bill Nelson: Put yourself in the place of President Trump. Do you think President Trump would like to have a conversation with American astronauts on the surface of the Moon during his tenure? Ars: Of course. Bill Nelson: OK, let me ask you another question. Do you think that President Trump would rather have a conversation with American astronauts during his tenure rather than listening to the comments of Chinese astronauts on the Moon during his tenure? My case is closed, your Honor, I submit it to the jury. Further reading: Elon Musk: 'We're Going Straight to Mars. The Moon is a Distraction.'

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John Deere Thinks Driverless Tractors Are the Answer To Labor Shortages

Slashdot.org - Mon, 01/06/2025 - 22:30
An anonymous reader quotes a report from Quartz: John Deere is going all in on autonomous tractors. The company, which first introduced a driverless vehicle in 2022, said self-driving machines will revolutionize the field and address labor shortages. It will soon be selling self-driving dump trucks, more driverless tractors, and a robot lawn mower. "When we talk about autonomy, we mean full autonomy," Jahmy Hindman, chief technology officer at John Deere, said at CES on Monday, according to The Verge. "No one's in the machine." Hindman said the company wants "more of our machines to safely run autonomously in these unique and complex environments that our customers work in every day." John Deere says many farmers in the states currently utilize the first model of its driverless tractor, The Verge reported. "Those tractors are already being used by farmers to prepare the soil for planting in the next year," Hindman said. By 2030, the company is hoping to sell a fully self-driving corn and soybean farming system. Between now and then, John Deere says its articulated dump truck will hit the market. That vehicle can carry more than 92,000 pounds at a time, The Verge reported, and the company says it will improve safety and productivity in sites like quarries. "It's unsupervised, it's capable of making decisions and operating safely on its own," Maya Sripadam, senior product manager of John Deere's subsidiary Blue River Technology, said. John Deere also plans to release driverless tractors that can spray nut orchards with pesticides, growth regulators, and nutrients for the trees. It thinks those vehicles will have a particular benefit to the California nut farming industry, which has faced labor shortages. [...] John Deere hasn't said how much the vehicles will cost. Further reading: Software Fees To Make Up 10% of John Deere's Revenues By 2030

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