For over a year now I have blogged here about the red flags flying about Travis Kalanick and Uber. Many investigative articles have been published over this time, in the New York Times and other publications, which have raised disturbing questions about Uber, Kalanick and some members of his team. The Board of Directors has finally taken action but it feels like its a day late and a dollar short. Why did it take so long? I have bluntly used the epithet that “Uber is Trump,” but now on reflection, it is more apt to describe Uber as Enron the sequel, and “deja vu all over again.” Remember the audio of two Enron electricity traders laughing about “screwing grandma?” That is Uber.
One day after federal Finance Minister Joe Oliver deflected concerns over Canada’s poor economic showing to start 2015, the OECD announced that it now projects Canadian growth this year at about 1.5 percent, down sharply from 2.2 percent during its previous temperature reading in March and a full percentage point below its forecast last November. Oliver on Tuesday told a Parliamentary Committee that he does not anticipate a recession.
UPDATE: May 21, 2015. Goldman Sachs has just released an oil price forecast suggesting that North…
It appears that international banking fraud and market manipulation continues unabated. The newest scandal brewing involves Swiss, British and American banks manipulating foreign currency exchange rates. The LIBOR fraud scandal has apparently done nothing to improve the ethics of the global financial services industry.
Less than two weeks ago I posted on this blog the revelation that banking authorities in Switzerland had opened an investigation into foreign exchange (arbitrage) fraud by Swiss banks. My report went on to say that the investigation was uncovering implications of broader involvement of banking institutions outside of Switzerland. Today, the Financial Times in London published an explosive article naming 15 global banks now implicated in the expanding investigation of global foreign exchange fraud and manipulation.
Earlier this week, I was advised by a VC friend in Vancouver to expect another blockbuster announcement from D-Wave. And so it has happened. As if to stem any further skepticism and debate about D-Wave’s quantum computing technology, Google today announced that it has bought a D-Wave quantum computing system, in a partnership with NASA and Lockheed Martin Aerospace. This is the second major sale of a D-Wave system, and further evidence that this is not simple tire kicking by a group of ivory tower scientists.