Elon Musks explains why taking Tesla private is ‘the best path forward’

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Earlier today, Tesla CEO Elon Musk tweeted about how he’s considering taking Tesla private. Now, Tesla has published an email Musk sent to employees today that describes his rationale. However, no decision has been made yet, Musk wrote in the email.

Musk says it’s “the best path forward” because taking Tesla private would help minimize some of the distractions that come as a result of “wild swings in our stock price.” Going private would also enable Tesla to make decisions that are best for the long-term, rather than the short-term, he said.

“Finally, as the most shorted stock in the history of the stock market, being public means that there are large numbers of people who have the incentive to attack the company,” Musk wrote in the email.

He later adds, “This proposal to go private would ultimately be finalized through a vote of our shareholders. If the process ends the way I expect it will, a private Tesla would ultimately be an enormous opportunity for all of us.”

You can read the full email below.

Earlier today, I announced that I’m considering taking Tesla private at a price of $420/share. I wanted to let you know my rationale for this, and why I think this is the best path forward.

First, a final decision has not yet been made, but the reason for doing this is all about creating the environment for Tesla to operate best. As a public company, we are subject to wild swings in our stock price that can be a major distraction for everyone working at Tesla, all of whom are shareholders. Being public also subjects us to the quarterly earnings cycle that puts enormous pressure on Tesla to make decisions that may be right for a given quarter, but not necessarily right for the long-term. Finally, as the most shorted stock in the history of the stock market, being public means that there are large numbers of people who have the incentive to attack the company.

I fundamentally believe that we are at our best when everyone is focused on executing, when we can remain focused on our long-term mission, and when there are not perverse incentives for people to try to harm what we’re all trying to achieve.

This is especially true for a company like Tesla that has a long-term, forward-looking mission. SpaceX is a perfect example: it is far more operationally efficient, and that is largely due to the fact that it is privately held. This is not to say that it will make sense for Tesla to be private over the long-term. In the future, once Tesla enters a phase of slower, more predictable growth, it will likely make sense to return to the public markets.

Here’s what I envision being private would mean for all shareholders, including all of our employees.

First, I would like to structure this so that all shareholders have a choice. Either they can stay investors in a private Tesla or they can be bought out at $420 per share, which is a 20% premium over the stock price following our Q2 earnings call (which had already increased by 16%). My hope is for all shareholders to remain, but if they prefer to be bought out, then this would enable that to happen at a nice premium.

Second, my intention is for all Tesla employees to remain shareholders of the company, just as is the case at SpaceX. If we were to go private, employees would still be able to periodically sell their shares and exercise their options. This would enable you to still share in the growing value of the company that you have all worked so hard to build over time.

Third, the intention is not to merge SpaceX and Tesla. They would continue to have separate ownership and governance structures. However, the structure envisioned for Tesla is similar in many ways to the SpaceX structure: external shareholders and employee shareholders have an opportunity to sell or buy approximately every six months.

Finally, this has nothing to do with accumulating control for myself. I own about 20% of the company now, and I don’t envision that being substantially different after any deal is completed.

Basically, I’m trying to accomplish an outcome where Tesla can operate at its best, free from as much distraction and short-term thinking as possible, and where there is as little change for all of our investors, including all of our employees, as possible.

This proposal to go private would ultimately be finalized through a vote of our shareholders. If the process ends the way I expect it will, a private Tesla would ultimately be an enormous opportunity for all of us. Either way, the future is very bright and we’ll keep fighting to achieve our mission.

Thanks,
Elon

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The best places to stargaze around the world

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Light pollution blots out the night sky for billions of people around the world, but there are still places where the night remains untouched by humans.

Minimum light pollution, dark cloudless nights, wide open air, and high altitudes are all factors that lead to the best conditions for skywatchers hoping to see amazing cosmic sights in locations around the world.

So, if you’re going to spend time and money hunting out the best skies around the globe, where should you go? 

We have some ideas. 

Here are our (unscientific, very subjective) picks for two locations on each continent that are great places to go for some A+ skywatching.

All that said, if traveling doesn’t fit into your schedule, there are plenty of websites like this Light Pollution Map or this Dark Site Finder that can direct you to the darkest skies with the clearest conditions near you.

South America

An image of the Milky Way curving over the Atacama desert in Chile

Image: European southern observatory

Atacama Desert, Chile

It’s no coincidence that the world’s driest desert is also one of the best places to gaze at the stars. 

The lack of cloud cover, high altitudes, and flat, barren terrain give skywatchers unabridged access to an entire horizon. 

The desert is also the home to the Atacama Large Millimeter Array, which is a large telescope created in a joint effort by the United States, Europe, and East Asia. 

Uyuni Salt Flats, Bolivia

At nearly 12,000 feet above sea level the Uyuni Salt Flats in southwest Bolivia should already be on everybody’s bucket list. (It’s the largest salt flat in the world.) 

But at high altitudes, the natural beauty serves a secondary purpose as an all-access pass to the stars. Guides suggest going to the flats during the rainy season (December through March), which flood the surface and turn the ground into a mirror for the sky.

Africa

Stars illuminate the sky above a rock formation in the Teide National Park in 2014.

Image: Dan Kitwood/Getty Images

Canary Islands, Spain

The people of the Canary Islands take their stargazing very seriously. 

This tiny island is the home of a very important observatory, which can be affected by light pollution from nearby urban development. So a new partnership with a light company called Signify aims to rectify that issue by installing astronomy-friendly smart LED lights that can be dimmed remotely. 

Sutherland, Northern Cape

Sutherland is so great for stargazing that scientists built the Southern Hemisphere’s largest single-optical telescope here — known as SALT or Southern African Large Telescope. 

If you’re ever in Cape Town, it’s probably worth the four-hour drive to the top of a long, winding road to catch a glimpse of some of the greatest stargazing the world has to offer.

North America

Jasper National Park, Canada

This massive national park takes up about 4,200 square miles of Canada’s natural splendor. 

Because the entire area is protected from light pollution, anywhere in the park has access to breathtaking views. Some noteworthy sites are the Columbia Icefields, Pyramid Island Lake, and Medicine Lake.

Mauna Kea, Hawaii 

The top of this dormant volcano is the site of one of the most important observatories and testing sites to the world’s astronomers — making it a guaranteed success for anyone just trying to get in some good stargazing. 

Europe

Trysil, Norway

Normally, stargazing in Trysil is a treat — the wide expanse of sky nearly engulfs the viewers. 

But if you time it right, stargazing and Milky Way hunting in Trysil could turn into a festival of lights since the Northern Lights will occasionally put on a show for those willing to brave the bitter cold.

Westhavelland International Dark Sky Reserve, Germany

Home to the darkest skies in Germany, Westhavelland is one of the newest inductees into the International Dark Sky Reserves — which is an organization dedicated to protecting our views of skies around the world. 

Westhavelland is also a nature reserve that’s essentially a huge meadow sprinkled with lakes and woodlands. 

Asia

Sabah, Malaysia 

Astro-tourism is a burgeoning industry in Malaysia. 

The absence of light pollution and cloudless seasons make places like Sabah the perfect backdrop for those wanting to find a stargazing road less traveled.

Doi Chiang Dao, Thailand 

It goes without saying that most of the world’s most beautiful skies belong to the mountains. 

In Thailand, the summit of Doi Chiang Dao is the third tallest peak in Thailand which gives you the ability to drink in the sky without facing a very difficult trail.

Australia 

Aoraki International Dark Sky Reserve, New Zealand

The uninterrupted space in this corner of the world provides some of the best sky watching around. 

The New Zealand park itself boasts of wide array of natural beauty, but nothing compares to the millions of stars visible every night when the sky is clear.

Coonabarabran, New South Wales, Australia  

Australia is another one of those places in the world, like Norway, where sky watching could turn into a rare showing of the auroras. 

Much like the rest of Australia, in Coonabarabran, stargazing is an integral part of any real outback experience where an endless amount of stars illuminate the sky so much that you’d believe it’s daytime. 

Antarctica

The southern lights light up the sky over the South Pole

Image: Dr. Keith Vanderlinde/ national science foundation

Ridge A

Back in 2009, a study determined that Ridge A, a spot deep in the interior of frigid Antarctica, was actually the best place on Earth for stargazing. 

Unfortunately, it’s an area so inhospitable that no human has ever been there. 

But, if you can get to any part of Antarctica, look up. The sky won’t get much better than it is above this light pollution-free continent. 

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Elon Musk made Tesla stock spike with a 420 reference

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Maybe Twitter user Elon Musk thought he was being funny with a terrible pot joke, or maybe he was serious. Either way, the Tesla CEO just sent the company’s stock soaring after a tweet. He said he might take the company private again after the stock hits $420 (which, if you’re unaware, is a weed reference).


The stock price was already on the rise Tuesday lunchtime, but shortly after the tweet it jumped up from $355 to $370 — $50 bucks short of the $420 benchmark — but it quickly dropped back to around $362.

If Musk is being serious, it means he’d buy back the company when the market cap is $85 billion, including debt. If he does want to buy back the company at that point, he’ll probably have to spend a lot more than that — not many shareholders will sell their stock back to the company at market value.

There’s always a chance this is a joke, and Engadget has asked Tesla for confirmation on that. But who knows what Musk is really thinking at any time? It’s not Musk’s first 420 reference on Twitter, but it’s one that could lead to questions from the Securities and Exchange Commission, given the agency’s guidelines on social media disclosures. Shares have since been halted.

Source: Elon Musk (Twitter)

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Modern technology is slowly killing the mood in the ‘happiest country in the world’

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  • Bhutan measures success not by gross domestic product, but by "Gross National Happiness."
  • Although Bhutan is sometimes thought of as the happiest nation in the world, modern problems are hurting its reputation.
  • Technology and outside influences are slowly changing the traditional way of life in Bhutan.

For years, the small Asian nation of Bhutan has defined success not through its economy, but through happiness.

The Buddhist nation pioneered the idea of "Gross National Happiness" to measure the country’s well-being, and supposedly, its prime minister once touted Bhutan as the "happiest nation in the world."

But Bhutanese people are discovering that perception doesn’t always equal reality. Despite the government’s efforts, Bhutan ranked just 97th out of 156 countries in the most recent edition of the United Nations’ World Happiness Report list.

Part of the reason may have to do with technology. Although Bhutan resisted it for decades, modern advances like cell phones, TV, and computers are slowly starting to take hold there, bringing with them unfamiliar problems and causing old ways of life to disappear.

In recent years, TV has been blamed for everything from Bhutan’s rising crime rate to its shifting demographics as rural residents head for bigger towns in search of work.

"Advertisements create desires, which cannot be satisfied by people’s current economic position," Phuntsho Rapten of the Centre for Bhutan Studies wrote. "Crimes and corruption are often born out of economic desires."

Climate change, another modern issue, is taking its toll on Bhutan as well. Melting glaciers are threatening the industrial plants that provide the nation’s energy, hampering progress in a country the United Nations considers among the world’s "least developed."

"We have an increasing income gap, we have increasing youth unemployment, environmental degradation," Needrup Zangpo, executive director of the Journalists’ Association of Bhutan, told NPR

"We have a lot of things to worry about."

Statistics from Bhutan’s own happiness survey illustrate the transformation: According to the most recent Gross National Happiness report from 2015, the number of people reporting negative emotions such as anger, fear, and selfishness increased from the previous survey, while positive emotions like compassion and forgiveness had decreased.

And although 90% of respondents reported being happy overall, it’s worth noting that almost half of them, 48%, described themselves as "narrowly happy," as opposed to the more positive choices, "deeply happy" and "extremely happy."

As progress marches on, Bhutan is going to have to learn to adapt to modern challenges — and the shifting mood of its people.

SEE ALSO: Cell phones and computers are slowly taking hold in one of the most mysterious countries in the world — and they’re not making people any happier

DON’T MISS: These photos of prison cells around the world show how differently countries treat their criminals

Join the conversation about this story »

NOW WATCH: This artist creates incredibly realistic animal cakes — here’s how she does it

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Which Type Of Alcohol Causes The Worst Hangover?

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There was once a time when I could drink three Four Lokos over the course of a night and wake up the next day rearing to go again, but as I slowly descend into my late twenties, even thinking about doing that gives me a little bit of a headache, a some dry mouth, and all of the other fun withdrawal symptoms that come with a night of binge-drinking .

Based on Malcolm Gladwell’s 10,000 Hour Rule, I’m pretty sure I’m allowed to call myself an expert in hangovers.

Over the years, I’ve come across plenty of anecdotal advice about what to do to avoid them and there are plenty of alleged hangover cures if you’re unable to (you should never underestimate the power of a morning shower beer).

However, I recently realized there was a major gap in my knowledge when it comes to what types of alcohol are most likely to cause the kind of hangovers that make you never want to drink again (before you inevitably drink again that night).

After a bit of research, I think I’ve finally found the answer.

What Causes A Hangover?

bottles behind bar

Pixabay

Alcohol. The answer is alcohol.

I assume you’re looking for a more in-depth explanation, so before we talk about anything else, we need to look at the scientific reason why your brain hates you the morning after a night of drinking.

Alcohol begins to interfere with your normal bodily functions as soon as it enters your bloodstream. One of the first things to fall victim is the pituitary gland, which is responsible for producing hormones that keep your body hydrated.

Most drinks are easily absorbed by the kidneys but drinking more alcohol makes them get progressively lazier. This results in liquid bypassing them and getting funneled straight into your bladder instead of being redistributed to your organs (which is how it usually works when you’re not willingly poisoning yourself).

If you wake up with a headache, it’s probably because your brain was nice enough to give your organs a little bit of water to help them function, kind of like the dude from the last Mad Max movie.

If you’re also lucky enough to spend the first hour of your day attempting not to vomit, it’s likely because you caused inflammation in your stomach. This is much more prevalent when you consume any booze over 30 proof, which brings us back to our initial question.

What Alcohol Causes The Worst Hangover?

whiskey barrells

Pixabay

You’ve probably never even heard of congeners but they’re largely responsible for many of the nights you’ve ended up regretting in the morning.

Congeners are a byproduct of the fermentation process and contain many of the elements that shape the flavor and nose of your favorite adult beverages. They can be filtered out during the distillation process but can also play an essential factor in the taste and aroma of a drink.

As a general rule, dark drinks contain more congeners, which means fans of whiskey, cognac, and red wine are especially at risk when it comes to spending their Saturday in a dark room and avoiding loud noises.

The impact of cogeners was examined by a Dutch study, which also found hard alcohol seemed to be responsible for the most severe hangovers. Another study found bourbon was the worst culprit, as it contains an estimated 37 times more congeners than vodka (although it said further research was needed to confirm their conclusion).

Taking everything into consideration, if you’re looking to avoid a hangover, your best bet is to stay away from the brown liquors you normally find on the bottom shelf.

However, there’s also one more factor to consider if you want to avoid maximizing your pain.

There’s evidence that mixing with carbonated drinks can also help increase your blood alcohol level, as they help increase alcohol absorption and can cause you to get drunker than intended. This is especially true of drinks with sugar, which can also dehydrate you and cause your liver to get overwhelmed as it simultaneously tries to process the booze in your body.

As a result, if your go-to drink is well whiskey and Coke, you’re probably going to be in for a bad time the next morning (or afternoon, depending on how bad it is).

 

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NASA’s Curiosity rover has been exploring Mars for 6 years now — here’s what the red planet’s surface looks like up close

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Acidalia Planitia Mars

The surface of Mars is weird and beautiful.

For six years now, since its landing on August 5, 2012, the Mars Curiosity rover has been exploring one area of our next-planet neighbor.

Curiosity has spent all of its time in the Gale Crater, where it’s traveled just over 12 miles, yet the rover has captured plenty of stunning images. NASA has also collected photos of the Martian surface using spacecraft and other rovers like Opportunity, which is more than 15 years old.

At times, photos of the surface of Mars depict the prototypical idea of the red planet: rocky, dry, dusty, and not unlike a desert you might see on Earth. Yet other formations of craters and canyons are completely different from anything on our planet — there are patches of dark and light colors, carbon dioxide dry ice, and otherworldly patterns.

There’s weather too, like the huge dust storm that recently covered the entire planet.

Here are some of the images that show how stunning the surface of Mars really is, though there’s still far more to be discovered, of course. Just recently, scientists announced that they think there might be a 12-mile-long lake of liquid water hidden underneath one of the red planet’s ice caps.

SEE ALSO: A leading medical institution created a simulation that shows how a new disease could kill 900 million people — and it reveals how unprepared we are

Curiosity captured this selfie on the Vera Rubin Ridge at the beginning of 2018. The rover’s arm has been edited out, since the photo is a composite of a number of images.

Just after arriving in 2012, Curiosity took this shot of the base of Mount Sharp, its eventual destination. Many of the mountains and canyons of Mars have names, just like geological features on Earth.

This was one of Curiosity’s first looks at the Gale Crater in 2012. The edge of the crater is broken up by a network of valleys that scientists think were formed by water.

See the rest of the story at Business Insider

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The Iconic Puzzle Just Got A Redesign!

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If someone was to mention the words, ‘multi-coloured’, ‘cube’ and ‘puzzle’ to you, I bet it wouldn’t take you long to work out what they were describing! The team at GoCube decided that it was about time the iconic and timeless puzzle got a bit of 21st-century goodness sprinkled on it, and thus, the GoCube puzzle was born!

GoCube houses an array of smart sensors that continuously track and measure activity, this is then relayed to the user’s smart device where they will be able to see an on-screen representation of the puzzle! This digital conundrum is packed full of addictive features and activates to partake in, and the best thing is, you don’t need to be an expert to have a go; an interactive digital guide provides step-by-step instructions on how to master the puzzle! Once the basics are understood, the user is able to battle it out with friends to see who the true puzzle master is!

Like with its iconic predecessor there is always room for the user to improve, so built into the application is a game mode that displays the time along with accurate statistics to outline where improvements could be made, allowing the user to become a speedcuber in no time!

All of this is wrapped up in a device that’s capable of grabbing even more attention than its ancestors did; light indicators illuminate the device and let the user know their status, while the internal mechanisms have been redesigned to ensure a far faster and smoother experience! Can you master the GoCube?!

Designers: Daniel Lebovich & Yoav Shumacher

Click here to Buy Now: $69.00 $119 (42% off). Hurry, less than 48 hours left and over $760,000 raised!

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Particula completely re-engineered the iconic puzzle toy – they have updated the classic cube into a modern super-puzzle with brains that does it all and answers it all.

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Click here to Buy Now: $69.00 $119 (42% off). Hurry, less than 48 hours left and over $760,000 raised!

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