It was a quiet and beautiful Saturday afternoon in October 1933. Will had just come back to his family farm from the nearby volunteer fire department in Farmersville, PA. When Will came into the farmhouse, his Mom advised him that a blade from the windmill was broken, halting their ability to grind wheat and pump clean drinking water for the family and their animals. Will’s mother also added there’s a Firechat from FDR tomorrow if he was interested.
Will got a replacement windmill blade from the family shed and he approached the windmill. A month ago, while he was over at his neighbor’s farm, he had helped to replace a blade damaged by a storm. His own windmill had been damaged yesterday by another storm. Today it became especially important that he fixed his own windmill because the water pump that provided fresh drinking water was out and didn’t want to miss the president’s Fireside chat that was tomorrow.
He got a ladder, tools, and the replacement blade. It took him a while to climb to the top. Once there, he replaced the blade with the new one. Once on the ground, he put away his tools and went inside.
The next day, Will went to the windmill and felt proud of his work to fix the broken blade. His family had drinking water again and was able to listen to FDR speak about the progress the country had made during the Great Depression.
Will’s favorite part of the speech was when FDR talked about financial speculators who didn’t know anything about farming helping to raise the prices of farm commodities higher.
“It is true that in July farm commodity prices had been pushed up higher than they are today, but that push came in part from pure speculation by people who could not tell you the difference between wheat and rye, by people who had never seen cotton growing, by people who did not know that hogs were fed on corn — people who have no real interest in the farmer and his problems.
In spite, however, of the speculative reaction from the speculative advance, it seems to be well established that during the course of the year 1933 the farmers of the United States will receive 33 percent more dollars for what they have produced than they received in the year 1932.”
Uber’s 2015 Expectations
Five years ago, Uber had grand aspirations for self-driving taxi technology which would allow them to eliminate their drivers lowering labor costs and reducing wait times.
On Monday, Uber announced they were selling off their self-driving division to Aurora, a California based self-driving vehicle company.
Uber’s announcement is essentially an admission of failure or at least an admission that self-driving cars will take longer to develop than expected.
What Problems Did Uber Have?
Uber never proved that it could develop a safe and fully-autonomous vehicle. The death of an Arizona woman in 2018 demonstrated that Uber’s technology could not be left unsupervised. This need to retain human supervision defeats Uber’s whole rationale for self-driving cars — labor reduction.
Uber responded to it weak competitive position by stealing the technology of one of its main rival- Google’s Waymo. Google sued Uber and the Google employee whom Uber recruited was sentenced to 18 months in prison.
New Reality: What is Uber’s New Plan?
The company that Uber is selling its self-driving technology too has ties with a fleet of car companies like Toyota, Hyundai, and Chrysler. Uber hopes to monetize its technology through an indirect partnership with these companies.
Hopes for self-driving taxis are not dead, but Aurora expects them to come more slowly than expected, arriving after self-driving trucks are deployed. Uber announced they will invest $400 million in Aurora and Uber CEO Dara Khosrowshahi will take a seat on Aurora’s board.
I’m concerned that one of my friends may be caught up in a Forex trading scam. If the organization she’s connected to is legit, then I’m happy for her, but if not, I hope to find that out.
I decided to start an open investigation and begin by asking my financial literacy teacher at school for some tips.
To Mr. Marinaro,
I’m concerned that a friend of mine is caught up in a financial scam.
The company is called Tradehouse and promises to teach new recruits how to trade foreign currencies by copying and pasting instructions into an app.
Here are a few of their promotional material:
What are the questions I should ask to determine whether this is a legitimate company or a scam?