Apple shares progress report on supplier usage of clean energy

Apple shares progress report on supplier usage of clean energy

7:05am, 11th April, 2019
announced that there are now that have committed to use clean energy for Apple production. It doesn’t mean all suppliers are using renewable energy, it also doesn’t mean that they use 100 percent clean energy for all their clients. But it’s still good news. All of Apple facilities on clean energy, such as offices, retails stores and data centers. But Apple is well aware that it manufactures a ton of devices and works with a ton of suppliers. That’s why the company has created a fund to help finance renewable energy projects in China. Apple is also allocation $2.5 billion in green bonds. Thanks to these initiatives, Apple has financed solar rooftops in Japan, a custom alloy made of recycled aluminum that you can find the MacBook Air and Mac Mini and more. Overall, Apple expects to reach its 2020 goal of injecting 4 gigawatts of renewable energy into its supply chain well before 2020. In fact, the company now says that it will indirectly generate around 5 gigawatts of clean energy. Suppliers in the program include Foxconn, Wistron, TSMC, Corning, STMicroelectronics and dozens of names that are mostly unknown to end customers.
Tesla’s shares plummet after SEC accuses CEO Elon Musk of violating a tweet deal

Tesla’s shares plummet after SEC accuses CEO Elon Musk of violating a tweet deal

8:53pm, 25th February, 2019
Tesla CEO Elon Musk’s Twitter habit has sparked gyrations in the stock market. (Tesla via YouTube) Tesla CEO Elon Musk is in trouble again with the Securities and Exchange Commission, this time over a 13-word tweet. The SEC filed a motion in federal court today, claiming that a tweet that Musk sent out last week violated the terms of an agreement aimed at settling a securities fraud case brought last September. After today’s motion came to light, Tesla’s share price dropped by more than 4 percent in after-hours trading, from $298.77 at the close to around $288 a couple of hours later. It’s the latest in a series of ups and downs caused by Musk’s Twitter habit. Read the PDF: Under the terms of last year’s agreement, Musk was supposed to have all of his Twitter comments pre-approved by Tesla’s designated representative if they touched upon “information material to the company or its shareholders.” That provision was meant to head off tweets like the one that Musk sent out last August, claiming that he had “funding secured” to take Tesla private even though that wasn’t actually the case. That claim and its aftermath sparked wild gyrations in the market, leading the SEC to open its fraud investigation. The agreement also required Musk to step down from his post as Tesla’s chairman and pay a $20 million fine. Tesla was also fined $20 million, and was forced to appoint two new independent directors to its board. The seeming resolution of the SEC case, plus Tesla’s profit-generating increase in production for its Model 3 electric car, sent Tesla’s share price as high as $376. But Musk touched off a new round of regulatory trouble on Feb. 19 when he talked about the production outlook for this year: Tesla made 0 cars in 2011, but will make around 500k in 2019 — Elon Musk (@elonmusk) That claim was amended a little more than four hours later: Meant to say annualized production rate at end of 2019 probably around 500k, ie 10k cars/week. Deliveries for year still estimated to be about 400k. — Elon Musk (@elonmusk) The SEC seized on the initial tweet, and within days investigators were asking Tesla whether the tweet had been pre-approved. In court filings (which Tesla had sought to make confidential), Bradley Bondi, a lawyer for Tesla, acknowledged that the first tweet had not been specifically pre-approved. Instead, it “was intended to recapitulate the information set forth” in forward-looking statements that were made by Tesla and Musk in January, in connection with year-end results. “Mr. Musk believed that the substance had already been appropriately vetted, pre-approved, and publicly disseminated,” Bondi wrote. The substance wasn’t quite the same, though. Back in January, Tesla said it was aiming to hit a goal of turning out about 10,000 cars a week sometime between the end of 2019 and the middle of 2020. That’s not exactly what Musk said in the first tweet. Tesla’s designated tweet-checkers realized that, and so they hammered out the wording of the second tweet as a clarification, Bondi said. Read the PDF: For what it’s worth, on the day after the tweet, Tesla’s general counsel, Dan Butswinkas, announced that he was leaving the company after spending only two months on the job. Jonathan Chang, vice president of Tesla’s legal department, took over Butswinkas’ position. The SEC said the fact that Musk didn’t get pre-approval of the wording for the “evidently inaccurate” first tweet was a violation of the agreement. As a result, the SEC is calling on Musk to show cause why he should not be held in contempt of the court’s judgment from last September. “A violation need not be willful in order to find contempt,” the SEC wrote in its motion to U.S. District Court in the Southern District of New York, where the original judgment was filed. The SEC also cited an interview with Musk that aired on CBS’ “60 Minutes” TV show last December as evidence that he wasn’t taking the agreement’s requirements seriously. Back then, Musk acknowledged that none of his tweets had been “censored” since the settlement. “I guess we might make some mistakes,” he told CBS’ Lesley Stahl. “Who knows? … Nobody’s perfect.” Musk went on to say that “I do not respect the SEC … I do not respect them” — but would comply with the agreement “because I respect the justice system.” Now it’s up to the justice system to decide whether to take Musk to task over an ill-turned tweet. If the judge in the case thinks the violation is serious enough, Musk could face further limitations on his role at Tesla.
‘Startups are really hard’: GiftStarter founder shares lessons learned after shutting down gifting service

‘Startups are really hard’: GiftStarter founder shares lessons learned after shutting down gifting service

6:00am, 8th May, 2018
Arry Yu. (Photo via ArryinSeattle.com) Find your “AJ.” Watch out for assholes. And know when to call it quits. closed the book last week on GiftStarter, her 4-year-old Seattle startup that aimed to personalize and simplify the process of purchasing gifts as a group. In an email to GeekWire, Yu said the biggest problem for GiftStarter was product-market fit. The company went through two accelerators, and 500 Startups, but struggled to acquire customers and nail down a robust business model. Yu let go of her employees in April 2016 but kept the company alive, even taking a major personal loan to try and fund it further. But she officially closed up shop last week. In a , Yu thanked her investors — local angels like Heather Redman, Gary Rubens, Rebecca Norlander, and Rudy Gadre — and other supporters. The entrepreneur also admitted that she should have shut down GiftStarter in 2016 and listed 10 lessons from her startup journey. “Startups are really hard,” Yu wrote. “Don’t do them light heartedly or just because it’s the trend. Don’t do it because you’re bored at work. Do it because you cannot exist in life without the big idea going big.” Among her other lessons for founders: “Find the ‘AJ,'” which is someone by your side “that’ll turn left and pounce 5 feet into the air when you just jump left” — a tip she learned from OfferUp founder Nick Huzar. She also advises startups to focus on finding a market before building a product; file proper documentation; and watch out for “assholes posing as advisors just for the vanity of it.” You can read the full post . Yu is now COO at , a Seattle startup formerly known as CakeCodes that lets people earn cryptocurrency by performing micro-tasks.