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A.I. Takeover: Amazon’s First Fully-Automated Grocery Stores Open

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(Via Zerohedge)


After nearly a year of testing – plus a few highly publicized practice runs involving reporters from a handful of influential tech media outlets like the New York Times – Amazon will open its small-format Seattle test store, dubbed “Amazon Go” on Monday.

The store will feature cashier-free checkouts, allowing customers who install the “Amazon Go” app to simply pick up an item and walk out with it. The launch was supposed to happen earlier, but was delayed due to bugs, we pointed out late last year.

Details of the shopping experience provided to the mainstream media sound like something wholly different than what consumers are used to…

The Seattle store, known as Amazon Go, relies on cameras and sensors to track what shoppers remove from the shelves, and what they put back. Cash registers and checkout lines become superfluous – customers are billed after leaving the store using credit cards on file.

For grocers, the store’s opening heralds another potential disruption at the hands of the world’s largest online retailer, which bought high-end supermarket chain Whole Foods Market last year for $13.7 billion. Long lines can deter shoppers, so a company that figures out how to eradicate wait times will have an advantage.

Amazon did not discuss if or when it will add more Go locations, and reiterated it has no plans to add the technology to the larger and more complex Whole Foods stores.

The opening date, Jan. 22, could very well be remembered as a milestone in the history of consumerism, as Reuters pointed out. While many assumed Amazon would quickly adapt the Amazon Go format for use at its Whole Foods stores, the company says it presently has no plans to integrate the technology with WFM.

Read The Rest Of The Story Here At Zerohedge

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Politics

Soros Newest Investor Of Tesla Bonds

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Tesla looks to have a new bond holder and it’s none other than George Soros. Whatever this mean, Soros has also taken a stake in Crypto-Currencies .

Zerohedge Reports: Amid Elon Musk’s darkest hour in late March – as his stocks and bonds tumbled in price – it seems there was at least one other billionaire willing to buy the ‘blood on the street’.

According to the latest 13Fs, George Soros’ investment firm took a $35 million stake in Tesla’s convertible bonds during the first three months of the year.

As a reminder, convertibles are hybrid securities, either bonds or preferred stock, that can be exchanged for a predetermined number of common shares. That effectively lets an investor participate in stock-price changes, but with the yield and greater security of a fixed-income instrument.

The March 2019 Converts bounced handsomely off those lows – tracking the stock’s divergent bounce – but in recent days has fallen back towards the lows, catching down to the straight bonds record low price.

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Culture

“Racial Bias Education Day” To Close Down Starbucks Nationwide

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Starbucks is going to the illogical extreme by taking an entire day to put their employees through what they call “Racial Bias Education Day”. Coming after a viral videos showed two men being arrested in a Starbucks in Philadelphia. Starbucks almost instantly gave into calls to do ‘something’ but will this really fix anything in a culture where ‘racism’ is more of a political talking point than an actual substantive conversation or debate.

CNBC Reports: Starbucks said Tuesday it will be closing all of its company-owned restaurants in the U.S. during the afternoon of May 29 to conduct a racial-bias education program.

“I’ve spent the last few days in Philadelphia with my leadership team listening to the community, learning what we did wrong and the steps we need to take to fix it,” Kevin Johnson, CEO of Starbucks, said in a statement Tuesday. “While this is not limited to Starbucks, we’re committed to being a part of the solution. Closing our stores for racial bias training is just one step in a journey that requires dedication from every level of our company and partnerships in our local communities.”

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Business

Soros Now Investing In Crypto-Currencies

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(Via Zerohedge)
By TD


After a historic drop in cryptocurrency prices in the first quarter, one which deflated much of the euphoria that surrounded the sector in late 2017 and the start of this year, the space is about to get exciting again because none other than 87-year-old billionaire George Soros is reportedly preparing to trade cryptocurrencies as prices plunge.

According to Bloomberg, Adam Fisher -who oversees macro investing at New York-based Soros Fund Management – has received internal approval to trade virtual coins in the last few months, “though he has yet to make a wager.”

The question, of course, is whether Bloomberg’s leak is accurate, and if indeed Soros is only now getting started in the space or if he has quietly loaded up already.

What is ironic, is that just three months ago when speaking at the World Economic Forum in Davos, Soros said digital coins cannot function as actual currencies because of their volatility, “but he didn’t predict the hard tumble that some observers had forecast at the time.”

“As long as you have dictatorships on the rise you will have a different ending, because the rulers in those countries will turn to Bitcoin to build a nest egg abroad,” Soros, 87, said on Jan. 25.

With Bitcoin tumbling below $7000 recently…

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