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The past week saw the release of the Labor Department's non-farm payrolls report, which was more positive than expected. In April, U.S. employers added 253,000 jobs, ahead of the consensus estimate of 180,000.

Still, on Saturday, Tesla CEO Elon Musk used a certain data point to seemingly reiterate his view that the Federal Reserve is committing a mistake by basing its rate decisions on lagging indicators.

The Labor Department revised its job figure for March from 236,000 to 165,000 a move that appeared to take the sheen off the April number, wrote conservative blog site Zerohege in a tweet on Friday.

"Instead of a beat, would have been a huge miss," it tweeted.

In response to the tweet, Musk wrote, Almost like there's latency in their data, so things are worse than they realize"

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Ahead of last week's Fed decision, the billionaire warned that another hike from the countrys central banking system could push the countrys economy into a deeper recession. At a recent meeting, the Fed made the decision to raise rates to a 16-year high of 5-5.25%.

Although the Fed's post-meeting statement was tweaked to remove references to "further rate increases," Fed Chair Jerome Powell hinted that the central bank may not be done with hikes just yet.

Read Next: White House Economist Says Feds Rate Hikes Having Negative Impact On Banking Sector Yes, You Read It Right!

Photo: Thomas Hawk via flickr

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Elon Musk Sounds The Alarm On Economic Outlook Despite ... - Benzinga

One aspect of MrBeasts channel is his philanthropic work. The YouTuber has always strived to give whatever he earns from his video back to his community. His latest video also follows the same pattern. In this video, MrBeast provided cutting-edge hearing aids to 1000 deaf people.

Although what seems like a noble deed has come under fire from many users online. They are accusing him of using disabled people to gather views. Furthermore, this has started a very heated debate all over the internet. And a person accustomed to handling heat from hoards of internet haters has come to defend MrBeast.

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Recently, journalist Ed Krassenstein started a discussion on Twitter on the topic focusing on MrBeasts latest video. He spoke in favor of the YouTuber, stating he was doing good for the masses. Whether he was gaining subscribers or not should be of no concern to people. He thinks MrBeast himself would not be thinking about the subscribers gained from this video. He raised a question for the people targeting the YouTuber, saying, Shouldnt people who can be cured of deafness be taken care of?

The discussion got a comment from Elon Musk, who believed people should not be attacked for doing good. Furthermore, he accused people of looking at everything from a monetary standpoint and not by how much good it does.

The Twitter CEO has also wished to donate to the cause MrBeast showcased in the video.

Musk also shared that while he wishes to donate money, people always take it from the wrong perspective. It is very hard to donate money if you about it doing actual good, not merely the appearance of it, he said.

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This led to Krassenstein commenting MrBeast and Musk should talk the details out and arrange to help even more people. He partially joked, Maybe the first sound these people hear could be the launch of the next Starship test flight. Krassenstein has inadvertently shared what was in the hearts of many fans who want Musk and MrBeast to collab.

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What are your thoughts on Elon Musk coming to defend MrBeast? Let us know in the comment section below.

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Elon Musk Comes To The Rescue of MrBeast, Saves Him From the Criticism On His Recent Video - EssentiallySports

Meanwhile, demand is rising for magnets embedded in the tools of decarbonization, such as cars and wind turbines. Currently,12 percent of rare earths go into EVs, according to Adamas Intelligence, a market thats just now taking off. At the same time, rare earth prices have recently whiplashed due to internal Chinese markets and political interventions thatoutside companies cannot always predict.

All in all, if youre in a business where you can make an alternative work, it probably makes sense to do so, says Jim Chelikowsky, a physicist who studies magnetic materials at the University of Texas, Austin. But there are all kinds of reasons, he says, to look for better alternatives to rare earth magnets than ferrite. The challenge is finding materials with three essential qualities: They need to be magnetic, to hold that magnetism in the presence of other magnetic fields, and to tolerate high temperatures. Hot magnets cease to be magnets.

Researchers have a pretty good sense of what chemical elements can make good magnets, but there are millions of potential atomic arrangements. Some magnet hunters have taken the approach of starting with hundreds of thousands of possible materials, tossing out those with drawbacks like containing rare earths, and then using machine learning to predict the magnetic qualities of those that remain. Late last year, Chelikowskypublished results from using the system to create a new highly magnetic material containing cobalt. Thats not ideal, geopolitically speaking, but its a starting point, he says.

Often the greatest challenge is finding new magnets that are easy to make.Some newly developed magnets, such as those containing manganese, are promising, Vishina at Uppsala University explains, but also unstable. In other cases, scientists know that a material is extraordinarily magnetic but cant be create in bulk. That includes tetrataenite, a nickel-iron compound known only from meteorites that must slowly cool over thousands of years to precisely arrange its atoms into the correct state.Attempts to make it more speedily in the lab are ongoing but have yet to bear fruit.

Niron, the magnet startup, is a little further along, with an iron nitride magnet that the company says is theoretically more magnetic than neodymium. But it too is a fickle material, hard to make and preserve in a desirable form. Blackburn says the company is making progress but wont be producing magnets powerful enough to transform EVs in time for Teslas next generation of vehicles. First step, he says, is to put the new magnets in smaller devices like sound systems.

Its unclear whether other automakers will follow Teslas rare earth trade-off, Kruemmer says. Some might stick with the baggage-laden materials, while others go with induction motors or try something new. Even Tesla, he says, probably will have a few grams of rare earths sprinkled in its future vehicles, spread across things like the automatic windows, power steering, and windshield wipers. (In a possible sleight of hand, the slides contrasting rare earth content at Teslas investor event actually compared an entire current-generation car to a futuremotor.) Despite workarounds like those in the works at Tesla, rare earth magnets sourced from China will remain with usincluding Elon Muskespecially as the world pushes to decarbonize. It might be nice to replace everything, but as Kruemmer says, we simply do not have the time.

Excerpt from:

Tesla's Magnet Mystery Shows Elon Musk Is Willing to Compromise - WIRED

Artificial intelligence (AI)

Dr Geoffrey Hinton has been inundated with requests to talk after quitting Google to warn about risk of digital intelligence

The man often touted as the godfather of artificial intelligence will be responding to requests for help from Bernie Sanders, Elon Musk and the White House, he says, just days after quitting Google to warn the world about the risk of digital intelligence.

Dr Geoffrey Hinton, 75, won computer sciences highest honour, the Turing award, in 2018 for his work on deep learning, along with Metas Yann Lecun and the University of Montreals Yoshua Bengio.

The technology, which now underpins the AI revolution, came about as a result of Hintons efforts to understand the human brain efforts which convinced him that digital brains might be about to supersede biological ones.

But the London-born psychologist and computer scientist might not offer the advice the powerful want to hear.

The US government inevitably has a lot of concerns around national security. And I tend to disagree with them, he told the Guardian. For example, Im sure that the defense department considers that the only safe hands for this stuff is the US defense department the only group of people to actually use nuclear weapons.

Im a socialist, Hinton added. I think that private ownership of the media, and of the means of computation, is not good.

If you view what Google is doing in the context of a capitalist system, its behaving as responsibly as you could expect it to do. But that doesnt mean its trying to maximise utility for all people: its legally obliged to maximise utility for its shareholders, and thats a very different thing.

Hinton has been fielding a new request to talk every two minutes since he spoke out on Monday about his fears that AI progress could lead to the end of civilisation within 20 years.

But when it comes to offering concrete advice, he is lost for words. Im not a policy guy, he says. Im just someone whos suddenly become aware that theres a danger of something really bad happening. I wish I had a nice solution, like: Just stop burning carbon, and youll be OK. But I cant see a simple solution like that.

In the past year, the rapid progress in AI models convinced Hinton to take seriously the threat that digital intelligence could one day supersede humanitys.

For the last 50 years, Ive been trying to make computer models that can learn stuff a bit like the way the brain learns it, in order to understand better how the brain is learning things. But very recently, I decided that maybe these big models are actually much better than the brain.

We need to think hard about it now, and if theres anything we can do. The reason Im not that optimistic is that I dont know any examples of more intelligent things being controlled by less intelligent things.

You need to imagine something that is more intelligent than us by the same degree that we are more intelligent than a frog. Its all very well to say: Well, dont connect them to the internet, but as long as theyre talking to us, they can make us do things.

Even outside of the existential risk, Hinton has other concerns about the rapid growth in power of AI models, citing the influence of Cambridge Analytica backer Robert Mercer on political campaigns on both sides of the Atlantic.

Bob Mercer and Peter Brown, when they were working at IBM on translation, understood the power of having a lot of data. Without Bob Mercer, Trump might well have not yet got elected.

And Bob must have understood the power of manipulation that big data could give you, and so I think already had terrible consequences there.

Authoritarian governments, he says, are the biggest red flag that suggests that humanity will not be able to get hold of the risks of AI before its too late.

This stuff helps authoritarian governments in destroying truth, or manipulating electorates. And having to deal with these threats, in a situation where Americans cant even agree to not give assault rifles to teenage boys, thats not a hard thing to think about.

In Uvalde [the 2022 massacre of 21 people at an elementary school in Texas], there were 200 policemen who didnt dare go through a door because the guy on the other side had an assault rifle and was shooting children.

And yet, they cant decide not to ban assault weapons. So a totally dysfunctional political system like that is just not the right system to have to deal with these threats.

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Bernie Sanders, Elon Musk and White House seeking my help, says godfather of AI - The Guardian

Elon Musk dreams of colonizing Mars, but here on Earth hes settled for frequent flier of the sky. The Twitter, Tesla, and SpaceX CEO, and worlds second-richest man, also holds the title of most active private jet user in the U.S., according to a new report from the Institute for Policy Studies and the Patriotic Millionaires. Musk has tried to keep details regarding private jet use private, famously suspending an account from college student Jack Sweeney, and this report establishes just how much Musk flies privatelyits a lot.

The report from the left-leaning IPS and the Patriotic Millionaires, who regularly urge the government to raises taxes on them, looked at Wealth-X data regarding the relative net worths of jet owners, as well as Federal Aviation Administration user data, along with public information regarding figures like Musk.

Clocking in at a little under one flight every two days, the report found Musks travels consumed 837,934 liters of jet fuel and produced 2,112 tons of CO2 emissions just last year132 times that of the average American. Hes been expanding his collectibles; Musk owns four jets and recently dropped $78 million on a Gulfstream G700, intended to replace his Gulfstream G650ER.

While climate change is a man-made global issue, research like this has found that some particular men are making the crisis bigger, as companies and high-net-worth individuals tend to account for especially hefty individual contributions. This report puts a number on the environmental cost of five-minute flights typical of Musk and other private jet fliers. Wealthy jet fliers release at least 10 times more pollutants per passenger than regular air flights, explain the authors. Private plane usage has skyrocketed over the past couple of years, as the pandemic divided people into their own bubbles. It all means that the wealthiest 1% is responsible for a Godzilla-size carbon footprint, with the report arguing that 1% of the population are likely responsible for half of all air-related carbon emissions. And Musk, the top of the 1%, is an even bigger proportion within that small group.

The affluents greater share of pollution has led the IPS and Patriotic Millionaires to call for a jet fuel tax. Recommending Musk pay an extra $3.94 million in taxesa drop in the (dwindling) water for Musk, who, even with his Twitter shopping spree taking out at least a $20 billion chunk of his fortune, is worth $187.1 billion.

A 2022 Oxfam study found that the richest billionaires emit on average more than 1 million times the carbon dioxide each year as 90% of the population does. Billionaires are also investing in companies that generate greater emissions, Oxfam found; each year the scale of emissions from billionaires investments was the same as the yearly carbon emissions in all of France.

Its not just planes. Ultrawealthy individuals are more likely to contribute to the water crisis with amenities like manicured gardens and pools. Leonardo DiCaprios favorite yachts are also carbon wastelands. An analysis of billionaires from 2018 found that two-thirds of their carbon emissions were traced back to superyachts.

At the end of the day, inequality ends up costing us all. In 2021, the median household income in the U.S. was $70,784. Musks realized compensation from Tesla was$23.5 billion in the same year, notwithstanding his profits from other companies down the line. All that extra money gives Musk some more pocket money to spend on his jets.

Busy dealing with the buggy and increasingly alt-right platform that is Twitter, Musk might be more on the move as he attempts to improve upon his latest investment while juggling his other ventures. A Washington Post analysis found that much of his air traffic in 2018 was dedicated to his work, and some for family (and both have increased in the years since). Musks insistence on being in person, whether with a bodyguard in the bathroom or not, has also likely led to the need for higher jet usage as he bops from company to company to monitor workers attendance. Known for praising his own attendance at Tesla factories and sleeping on the floor, his solution for a struggling company seems to be showing up in person.

Until we can teleport, theres unfortunately no alternative that would allow him to do his job as effectively, Tesla spokesman Dave Arnold previously told the Post. SpaceX did not respond to Fortunes request for comment.

Musks already limited time might be better spent curbing his own carbon emissions and addressing an environmental crisis rather than fixating on the underpopulation crisis hes been vocal about (despite the UN saying the worlds population will continue to grow). If Musk really wants people to build families or much less build a future for their children, he might want to cool his jets on the jet-setting.

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Elon Musk flies private jets more than any other billionairereleasing over 2,000 tons of carbon emissions in his wake - Fortune