Apple Scraps Electric Car Effort; Bitcoin Soars to $60,000

Apple has officially abandoned its ambitious electric car project which has been under wraps and consuming significant resources for the last ten years. In a surprising twist revealed during a company-wide meeting, Apple leadership disclosed the project's termination, signaling a substantive strategy shift. Employees were informed of potential layoffs, with many expected to transition to projects related to generative artificial intelligence. The electric car initiative, known internally as Project Titan, is reported to have cost Apple billions of dollars in its quest to innovate within the automotive industry.

Bitcoin Achieves $60,000 Milestone

In the crypto markets, Bitcoin reached a significant milestone, crossing the $60,000 mark for the first time since November 2021. The price of Bitcoin soared to $60,650 at its peak, nearing the record high experienced during the pandemic's height, which was propelled by Bitcoin's perception as a stable investment during uncertain times. The recent surge can be partly attributed to new financial instruments in the United States, such as exchange traded funds (ETFs), allowing investors to speculate on Bitcoin’s price without direct ownership, thus boosting its accessibility and appeal.

Tech Industry Shakeup

The tech world is witnessing a shakeup, with Sony announcing layoffs of 8% across their PlayStation workforce and the closure of their PlayStation's London Studio. This move is described as a hard but necessary decision in face of the industry's changing dynamics. Meanwhile, Oppo is making strides in the augmented reality space, introducing its Oppo Air Glass 3 XR eyewear, a lightweight, high-performing piece of technology designed to seamlessly integrate AI experiences. Lastly, enhancing the Android ecosystem, the Microsoft Copilot, an advanced AI assistant, has been updated, expanding its utility as a potential replacement for Google Assistant or Bixby for Android users.

Apple, Bitcoin, Tech