Earlier this week, I wrote an article talking about the German car companies and their obsession with mentioning Tesla. Volkswagen, Audi, and BMW are all gunning for Tesla in terms of electric vehicle technology and manufacturing. While the three German giants admit that Tesla holds a multi-year lead in the EV sector, they all believe they can catch up to Elon Musk and the rest of the crew.

After publishing the article, Elon responded and said that Tesla was willing to help companies transition to sustainable forms of transportation because it would help the world as a whole. However, there is evidence to suggest that Tesla and Elon are going to help those who ask for it, not those who attempt to take information in a manner that could be considered “sneaky.”

Tesla is open to licensing software and supplying powertrains & batteries. We’re just trying to accelerate sustainable energy, not crush competitors!

— Elon Musk (@elonmusk) July 29, 2020

Additionally, one of Musk’s followers had asked if Tesla’s Autopilot could be shared with other automakers in an attempt to not only accelerate the charge towards semi and fully-autonomous driving. Musk simply replied, “Sure,” indicating that there did not seem to be any boundaries in terms of what Tesla would be willing to share with its “competitors” as capitalism would refer to them as.

Sure

— Elon Musk (@elonmusk) July 29, 2020

To me, I found that simple “Sure” reply as one of the most interesting Tweets of Musk’s illustrious Twitter career. Not only has the CEO provided many of my friends and me with a fair share of laughs and me because of his great sense of humor, but his digs at other companies, as well as some of the more ironic things that he has said, have always intrigued me.

When he said, “Sure,” all I thought of was the lawsuit that Tesla currently holds against an Xpeng engineer who formerly worked for Tesla.

For those of you that are not familiar, Tesla sued Xpeng engineer Cao Guangzhi earlier this year, who used to work for Tesla.

Guangzhi allegedly stole pieces of Tesla’s Autopilot source code and attempted to sell it to Xpeng for financial gain. Guangzhi had downloaded portions of the code to his personal laptop and then shared it through Apple Airdrop, which is hard to track because of the encryption that Apple uses. However, he ensures that he removed it from his personal laptop before leaving Tesla to join Xpeng.

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The case is still ongoing.

But what I found most interesting about Musk’s simple one-word answer was the fact that he stated he would be willing to share Autopilot’s developments with other automakers. But it seems it needs to be done in good and harmless fashion, and not in a sneaky way. This is entirely understandable, in my opinion.

If Guangzhi did what Tesla is accusing him of doing, it would be seriously sneaky and flawed. Tesla is the leader in semi-autonomous driving thanks to the developments of its Artificial Intelligence team, led by Andrej Karpathy. What separates Tesla from every other company in self-driving is the fact that it is continuously improving thanks to the company’s Neural Network. As information is communicated to the Neural Network with every Tesla vehicle on the road, the company’s self-driving software becomes more sophisticated and more accurate as it can predict the next movements of the drivers around a car.

If this source code were to be leaked or given to another company, it could be detrimental to Tesla’s lead in the self-driving universe. I’m excited to see how the case plays out.

More recently, Tesla sued Rivian for poaching former employees and stealing trade secrets. Interestingly enough, I had some time to read over several pages of the complaint from Tesla to Rivian, and some employees openly admitted to taking confidential documents when they left Tesla.

I am a big Rivian fan. I think R.J. Scaringe, the company’s CEO, is a brilliant person who has a lot of potential to do amazing things. I have recommended to a couple of my friends that they should invest in an R1T instead of getting a Cybertruck because they don’t like the Tesla pickup’s design. But either way, it seems from my understanding of legal documentation, it is going to be up to Tesla to prove that Rivian asked these employees to take things and that they are openly going after past Tesla employees. I think that is going to be a tough cookie to crack.

But either way, Rivian didn’t go to Tesla for help directly. I feel that if they needed help with electrification or self-driving code, they should have reached out to Elon directly.

Elon has stated for years that the biggest enemy of Tesla is not competitors who are developing sustainable electric vehicles. The companies that are the biggest threat to Tesla are the biggest threat to us all, which are the ones who refuse to adapt to the sustainable transportation revolution. Companies that want to develop and improve internal combustion engine machines are a threat. Not financially, but environmentally, because they’re ignoring the apparent crisis that is going on in the world.

Does it seem like Elon wouldn’t be willing to help other automakers develop their vehicles if they asked for help? I don’t think so. Personally, when I look at Musk’s mission, I see a man who is interested in collaborating with anyone and everyone, as long as they are willing to admit that their push toward sustainability is the focus and not on the backburner.

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In the last two weeks, Ether (ETH) price increased by 75% as the price rallied from $222 to $390. Many investors believe Ether’s momentum is buoying the entire market, and possibly even pushing Bitcoin (BTC) upwards.

ETH-USD daily chart. Source: TradingView.com

Three factors that appear to be triggering the strong Ether rally are: DeFi, ETH 2.0, and the current prolonged rally taking place in the altcoin market.

DeFi growth is pumping altcoins but there are bearish signs

Since mid-June, the total value locked in decentralized finance (DeFi) protocols has continuously surged. The launch of protocol-specific tokens, like Compound’s COMP as an example, led to growing demand for DeFi.

Eventually, users discovered a phenomenon called “yield farming”, which involves users searching for higher yields in the DeFi market and switching from one protocol to another to obtain incentives.

The explosive growth of the DeFi market in a short period led many DeFi-connected tokens to surge rapidly. In July, investors seemingly sold off DeFi tokens and other small market cap altcoins, moving back to Ether and Bitcoin.

Today Ether price reached a 2-year high as it surged to $395 on BitMEX but this has traders warning against a potential pullback. In fact, crypto-trader Edward Morra said:

“Yeah, parabola coming out of another parabola is a sight to behold tbh. Also, this isn’t sustainable and will correct. If you are new to this space – buy dips, don’t FOMO at the top.”

ETH 2.0 bolsters Ether’s momentum

A consistent positive factor that supports the upward momentum of Ether is the anticipation for ETH 2.0. In August, Ethereum developers expect to launch the final testnet of ETH 2.0 called Medalla.

When fully launched, ETH 2.0 would gradually eliminate miners from the network and reward users for participating in the network. The incentive system would enable users to earn a yield on their Ether holdings over a long period.

Kelvin Koh, the co-founder of a venture capital Spartan Black, recently suggested that every phase of Ether would strengthen Ethereum. Koh said:

“Every phase of ETH 2.0 over the next 2-3 years brings Ethereum closer to its final state and will be catalysts for ETH.”

Altcoin season continues

The Ether and Bitcoin rally over the last three days coincided with a drop-off in altcoin prices. In the near-term, the cycle of profit taking could continue if altcoins see regular uptrends.

In previous bull markets, major cryptocurrencies and small altcoins showed an inverse correlation, meaning, as the price of Bitcoin surged, altcoin values dropped.

The opposite remains true when Bitcoin price is stable or consolidating. This creates a cycle that causes BTC and ETH to benefit from multiple profit-taking rallies.

Satoshi Flipper, a popular trader on Twitter, suggested that in the longer-term there is a key resistance for Ether at $780.

ETH-USD 1-week chart. Source: Satoshi Flipper

It remains to be seen whether the confluence of ETH 2.0, profit-taking rallies, and DeFi growth could push Ether price to higher resistance areas. For now, the sentiment around the altcoin generally remains positive in the medium-term.

An employee at a Chicago Dunkin’ location was arrested Friday, one day after an Illinois state trooper discovered saliva inside a cup of coffee, state police said.

Vincent Sessler, 25, was charged with disorderly conduct, reckless conduct and battery to a peace officer.

At approximately 10:20 p.m. on July 30, an Illinois State Police trooper ordered a large black coffee from the Dunkin’ location at 6738 W. Archer Ave. on the city’s Far West Side.

Because the coffee was extremely hot, the trooper removed the lid from the cup in order to cool it down, according to a news release from ISP. At that point, the trooper observed a “large, thick piece of mucus,” which was later confirmed to be saliva, floating inside.

Following an investigation, Sessler was arrested at 12:49 p.m. on Friday, and taken into custody without incident.

“This is outrageous and disgusting. The men and women of the Illinois State Police put their heart and soul into protecting the lives and rights of all people in this state every day,” ISP Director Brendan F. Kelly stated in the news release. “They deserve better than this insulting and dangerous treatment. For their safety, ISP officers and employees will be prohibited from patronizing this location.”

Sessler remained in police custody as of Saturday evening.

Dunkin’ released the following statement to NBC 5 regarding the incident:

We are aware of the matter that took place at the Dunkin’ restaurant located at 6738 W. Archer, Chicago, IL. Dunkin’ and all of our franchisees share the goal of creating a welcoming environment in all Dunkin’ restaurants and treating all guests with dignity and respect. The type of behavior reported to us is inconsistent with the brand’s values. The franchise owner who independently owns and operates this restaurant, informs us that he took immediate action to investigate the matter and terminated the individual responsible for this reprehensible behavior. Dunkin’ has a deep appreciation for police officers who work tirelessly to keep our communities safe, and the franchise owner has reached out directly to the officer to apologize for the experience.

Saving a six- or even seven-figure sum for retirement isn’t an easy feat, even if you have decades to accomplish it. In March 2020, approximately 26% of adults 60 and older had less than $100,000 saved for retirement, according to an American Advisors Group survey, but that masks the true scope of the problem. In April 2020, as the country began feeling the financial strain of the COVID-19 crisis, the percentage of adults 60 and older with less than $100,000 in retirement savings jumped to 43%.

This could be related to the market downturn that hurt the value of many people’s retirement portfolios, or it could reflect some early withdrawals taken to help cover living expenses while some of these individuals could not work. Whatever the cause, the result is the same. These people will have a difficult time retiring comfortably on what they have, so they need to develop a new strategy.

Image source: Getty Images.

Here’s a closer look at how far $100,000 goes in retirement, along with what you can do to get more money in your retirement account and help what you have last longer.

Why $100,000 is nowhere near enough for retirement

The average household headed by an adult 65 or older spends a little over $50,000 per year, according to the Bureau of Labor Statistics. Based on these figures, a $100,000 nest egg would last less than two years in retirement if you relied upon that alone. You’ll probably have Social Security benefits to help you out, and you might spend less than the average, so you could feasibly stretch your savings out a few more years than this. 

But unless you only expect your retirement to last a short time, you will likely outlive your $100,000 in savings. That could force you to rely upon family members for support or risk falling behind on your bills. If you’re concerned about this, you should take steps immediately to reconsider your retirement plan.

How to design a more secure retirement

Delaying your retirement is one of the best ways to combat a small nest egg, because it gives you additional time to save while reducing the number of years of savings you need. It may also give your retirement portfolio more time to rebound from the losses it’s suffered over the last few months.

You could also consider a side hustle to generate additional cash. There are many you can do from home if you’re concerned about being exposed to others. Consider virtual assisting, online tutoring, or even creating your own course or blog. There are side hustles that don’t require a lot of work on your part either, like renting out an extra property or a spare parking space. If you do start a side business, you must remember to set aside taxes on your own to pay the IRS. Have a designated savings account where you can keep these funds.

The major downside of planning to work longer is that you can’t guarantee you’ll be able to. An injury or illness could force you to retire sooner than you’d expected. Even if you remain healthy, a family member may not, and you could end up staying home to care for them. Have a backup plan for what you would do in one of these scenarios so you’re not caught off guard if it does happen.

Cutting your expenses both now and in retirement can also help stretch your savings further. Eliminating unnecessary purchases today can enable you to put more cash toward retirement — though, admittedly, in the present climate, saving for retirement might not be possible if you’re still struggling to pay your bills. Removing unnecessary expenses, like travel, in your retirement budget can also reduce your costs.

You could also consider delaying Social Security if you believe you’ll live a longer life. Every month you delay benefits increases your check until you reach your maximum benefit at 70. You may not be able to afford to delay benefits that long, but every little bit helps. Once you start claiming, your larger Social Security checks will go further, so you can rely less upon your personal savings.

There aren’t any easy solutions for those who are dangerously far behind on retirement savings. But trying some of the tips above is better than allowing your money to run out after a few years. Do what you can and check in with yourself at least once per year to see if there are any additional changes you can make to reach your savings goals.

Walmart plans to temporarily close a store in Mobile to disinfect and restock following COVID-19 cases among staff there.

The Walmart on 5245 Rangeline Service Road S will close at 4 p.m. Saturday and reopen at 7 a.m. Monday.

“We understand the role we play in providing our customers with food, medicine and other essential items during this time. We also understand (Mobile) has been hit especially hard by COVID-19,” Walmart spokesman Phillip Keene said in a press release.

“We are not able to provide information about those impacted for privacy reasons,” he added.

Keene said it is impossible to know how anyone at the store would have contracted the virus. He said Walmart is taking social distancing measures such as providing face masks and gloves to employees, erecting plexiglass shields at registers and creating one-way shopping aisles.

“Everything we’re doing is for the well-being of our associates and customers, and in consideration of guidance by the Centers for Disease Control (CDC) and health experts. When the store reopens on Monday, we will continue to conduct associate health screens and temperature checks, and all associates will be provided with facemasks and gloves,” he said.

Mobile County had 8,466 confirmed COVID-19 cases as of Saturday, according to the Alabama Department of Public Health.

At that time, Friend-Daniel insinuated the names were already in the process of being changed, a process that would continue.

“While this approach to product naming may have been rooted in a lighthearted attempt at inclusiveness, we recognize that it may now have the opposite effect — one that is contrary to the welcoming, rewarding customer experience we strive to create every day,” she said in a statement to CNN.

“Packaging for a number of the products has already been changed, but there’s a small number of products in which the packaging is still going through the process,” Friend-Daniel added.

That doesn’t seem to be the case now. And the move has particularly been praised by pundits on the right.

The problem, according to the petition and those on its side, is that this kind of packaging exoticizes other cultures — presenting “Joe” as the norm and Ming, San Joe, José, and so on, as falling outside of that realm.

In its most recent statement, Trader Joe’s asserts that customer feedback revealed its clientele is unbothered by this “fun” approach to product marketing.

“Recently we have heard from many customers reaffirming that these name variations are largely viewed in exactly the way they were intended — as an attempt to have fun with our product marketing,” the statement said. “We continue our ongoing evaluation, and those products that resonate with our customers and sell well will remain on our shelves.”

Wide latitude

TAMPA, Fla. — A Tampa teenager has been arrested in a massive Twitter hack of prominent politicians, celebrities and technology moguls that netted more than $100,000 in Bitcoin. 

Graham Ivan Clark, 17, was arrested Friday in Tampa, where the Hillsborough State Attorney’s Office will prosecute him as adult. 

Clark appeared in court Saturday. He is being held without bail.

He faces 30 felony charges, according to a news release. Mason Sheppard, 19, of Bognor Regis, U.K., and Nima Fazeli, 22, of Orlando, were charged in California federal court.

In one of the most high-profile security breaches in recent years, hackers sent out bogus tweets on July 15 from the accounts of Barack Obama, Joe Biden, Mike Bloomberg and a number of tech billionaires including Amazon CEO Jeff Bezos, Microsoft co-founder Bill Gates and Tesla CEO Elon Musk. Celebrities Kanye West and his wife, Kim Kardashian West, were also hacked.

The tweets offered to send $2,000 for every $1,000 sent to an anonymous Bitcoin address.

The Hillsborough State Attorney’s Office will prosecute Graham Ivan Clark as adult. (Hillsborough County Sheriff’s Office)

“There is a false belief within the criminal hacker community that attacks like the Twitter hack can be perpetrated anonymously and without consequence,” U.S. Attorney David L. Anderson for the Northern District of California said in a news release. “Today’s charging announcement demonstrates that the elation of nefarious hacking into a secure environment for fun or profit will be short-lived.”

Although the case against the teen was also investigated by the FBI and the U.S. Department of Justice, Hillsborough State Attorney Andrew Warren explained that his office is prosecuting Clark in Florida state court because Florida law allows minors to be charged as adults in financial fraud cases such as this when appropriate. He added that Clark was the leader of the hacking scam.

“This defendant lives here in Tampa, he committed the crime here, and he’ll be prosecuted here,” Warren said.

Security experts were not surprised that the alleged mastermind of the hack is a 17-year-old, given the relative amateur nature both of the operation and the hackers’ willingness afterward to discuss the hack with reporters online.

“I think this is a great case study showing how technology democratizes the ability to commit serious criminal acts,” said Jake Williams, founder of the cybersecurity firm Rendition Infosec. “I’m not terribly surprised that at least one of the suspects is a minor. There wasn’t a ton of development that went into this attack.”

Williams said the hackers were “extremely sloppy” in how they moved the Bitcoin around.

He also said he was conflicted about whether Clark should be charged as an adult.

“He definitely deserves to pay (for jumping on the opportunity) but potentially serving decades in prison doesn’t seem like justice in this case,” William said.

Twitter previously said hackers used the phone to fool the social media company’s employees into giving them access. It said hackers targeted “a small number of employees through a phone spear-phishing attack.”

“This attack relied on a significant and concerted attempt to mislead certain employees and exploit human vulnerabilities to gain access to our internal systems,” the company tweeted.

Information from the Associated Press was used in this report.