(Via The Daily Wire)
The Walmart megastore will be getting in on the automation race — they are planning a new service that may make their stores cashier-free. They will also be implimenting new strategies to compete in the E-commerce wave sparked by Amazon.
According to Recode, “a new Walmart subsidiary, called Code Eight, has recently started testing a personal shopping service for ‘busy NYC moms,’ according to multiple sources, with the goal of letting them get product recommendations and make purchases simply through text messaging.”
Code Eight’s targeted demographic will be a “high net worth urban consumer,” a departure from their standard middle-America consumer.
“Household items are delivered for free within 24 hours; other purchases are delivered within two business days,” reports Recode. “Returns are picked up for free at a customer’s apartment building or house.”
Similar to Amazon Go stores, Walmart’s startup incubator, Store No. 8, will be testing a new line of cashier free stores. The secret project, known as “Project Kepler,” will be headed by Mike Hanrahan, the co-founder and former chief technology officer for Jet.com.
The Amazon Go stores accurately charge individual shoppers for items removed from shelves, a grocery store without lines or checkouts or workforces striking for a wage the job does not warrant.
“It uses cameras and shelf sensors to track what shoppers pull from shelves and then charges them for what’s in their carts when they leave the store, all without the use of cashiers or physical registers,” Business Insider reported when Amazon Go first appeared.
Though Amazon Go stores were supposed to go nationwide this year, technical difficulties kept that from happening. Amazon has now hired construction managers with the expressed intention of building the first stores.
All signs point to Project Kepler being something similar to Amazon Go, which means a huge chunk of Walmart’s workforce could be without a job. The corporation has two million employees worldwide, with significant portions working in the checkout line.
The fight for $15 minimum wage crowd are in for a rude awakening.
Soros Newest Investor Of Tesla Bonds
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.
“Racial Bias Education Day” To Close Down Starbucks Nationwide
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.”
Soros Now Investing In Crypto-Currencies
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…