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Valuing Cava Stock Valuing Cava Stock Then, Motley Fool contributor Rick Munarriz joins Mary to check in on movie theater stocks, and to discuss what a $2.2 billion industrywide renovation plan might mean for moviegoers. Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day. Sign Up For Free » Ever feel like you missed the boat in buying the most successful stocks? Then you’ll want to hear this. On rare occasions, our expert team of analysts issues a “Double Down” stock recommendation for companies that they think are about to pop. If you’re worried you’ve already missed your chance to invest, now is the best time to buy before it’s too late. And the numbers speak for themselves: Right now, we’re issuing “Double Down” alerts for three incredible companies, and there may not be another chance like this anytime soon. This video was recorded on Nov. 13, 2024. Mary Long: I hope you’re hungry. You’re listening to Motley Fool Money. I’m Mary Long joined live and in person today from a co-working office in Denver, Colorado, with Tim Beyers. Tim, thanks for being here with me this morning. Tim Beyers: Thanks, Mary. Fully caffeinated, ready to go. Mary Long: Fully caffeinated, ready to go. We’ve got a Thanksgiving lunch prepared for us after this, I think and to just wet our appetites even more, we’re talking about three stocks that we’ll see if we get to the third, but what we’ve got lined up for us today are three companies, all of which I know that you’re big fans of, and they’re all food-related. With that, we can get right to it. First up, we got Cava reported earnings yesterday. Earnings nearly doubled, turning out $0.15 per share in the third quarter. That’s compared to $0.06 a share a year ago. Same-store sales grew 18% during the quarter. Traffic also up nearly 13%. Company now is targeting full-year adjusted EBITA of 121-126 million. That’s adjusted pretty far up from what they previously had. Wall Street is amped about this. Stock is up over 10% this morning last I checked. Any notes, sir? Tim Beyers: It’s unbelievable. They have what I’ll key on is that 18% increase in same-store sales, which is just absolutely bonkers. For those who don’t know what that means, you are essentially taking the sales per square foot at every location, and then you’re looking at the year-over-year difference in how they are performing. Up 18% like that is just astounding. For context here, Mary, for a fairly well-established restaurant, like 5% is awesome, 18% is outrageous. It just means that the existing locations are crushing it. The menu must be doing great. People are coming in and enjoying Cava. The argument here for Cava is that this is the company that is making Mediterranean eating in the ******* States a thing. They are the concept that is taking Mediterranean mainstream. Now, whether or not you think that’s real or not, I think that’s up for debate, but the numbers suggest that’s at least part of the conversation. Mary Long: Well, it’s not just those existing stores. They’re also rolling out new stores. The company opened 11 new restaurants within the quarter, 73 new restaurants within the past year. There’s now 352 Cava restaurants around the US. Tim, I’ve done some back-of-the-napkin math here, and I want your take on it. This company’s got a market cap of about $18.3 billion. Divide that by the total number of restaurants. Each restaurant location by that is valued at about $51 million. If you do that same math for Chipotle, obviously a massive company of stock that’s done really well for investors, each of its 3,437 locations is worth about $24 million. That feels crazy to me. What needs to happen for Cava’s valuation to come back down to earth or is $51 million per location, something that’s justifiable? Tim Beyers: Well, look, I don’t think you could say that, but at this stage of its life, it is going to be priced at an outrageous premium. Right now, I don’t think you can make a really good numerical valuation argument for Cava. The work that I did on this is that the free cash flow yield, which is for those who don’t know how to calculate that, you take the free cash flow, as you’ve defined it, divide it by enterprise value, which enterprise value is market cap plus debt ****** cash. Free cash flow, divided by enterprise value gets you a percentage. The higher the percentage, the cheaper the stock is. The lower the percentage, the more expensive it is. In the case of Cava, it is 0.2%. In other words, the amount of required growth baked into Cava is outrageous. It’s a lot of assumed free cash flow growth via new restaurant openings, expanding margins. The expectations here are very high. Can they meet those expectations I think there is a case for it, but we could talk about that. I can tell, you asked what needs to happen. We could start with they need to open a lot of restaurants, and those restaurants need to be profitable per square foot pretty quick. They been able to deliver that, will they continue to? Mary Long: During the earnings call, CEO and co-founder Brett Schulman talked about Mediterranean hospitality as an increasingly powerful differentiator. He talked about our obsession with screens about how we’ve lost 24 hours a month in personal connection. For those asking, how is this relevant to Cava, here’s a quote from Brett. He goes, “At Cava, we believe technology should enhance not replace the human experience, and we’re leveraging it to create warm personal moments across our physical and digital channels and to support our team members in engaging and connecting with our guests”. As someone who enjoys going to Cava and appreciates the experience part of a restaurant, that all sounds awesome to me. As an investor, everybody’s talking about AI and efficiency and technology. How is Cava balancing those two things, technology and experience and does anything about how they’re doing that stick out to you, particularly from the investment standpoint? Tim Beyers: Well, I think it has a lot to do with the loyalty program. They want more people coming into the restaurants and eating in the restaurants. That’s a big part of the Cava story. Right now, digital ordering and, digital as a channel for revenue for Cava, like you order on the app, you go and you pick it up and you leave. That’s only about 35% of the business. We’re not talking about Wingstop. We’re not talking about Domino’s, which are close to 70%. You order on the app. They try to get you they upsell you through the app. You get some additional things. You go in, you get it, you’re gone. You go eat at home. Cava wants you in the store. But what they want to do is use the digital channel and particularly the loyalty program to get you interested in the menu and engaging with the menu. If they know, for example, you are nuts for the Pita chips, they are experimenting now with new flavors with the Pita chips and you can imagine that they will maybe make an offer or make you one of the privileged few, Mary, you love the Pita chips. Mary Long: I do. Tim Beyers: There’s only a few locations in the Denver Metro area that are going to try something entirely new. You are invited because you are a Cava loyalty member and not everybody’s going to get access to this. That’s not the same thing as a coupon. That is not the same thing as giving you bonus points so you can get more free meals. That is trying to engage you, get you to a location, get you trying something that they want to find out whether or not this new thing that they’re trying actually is going to work with some of their most loyal customers. They’re going to use this loyalty program to do something interesting that may go systemwide. We don’t know. They’re calling this first-party data. They call it a first-party data platform, meaning they’re going to take all the data they can get about what guests do when they show up at a Cava location and build experiences that are customized to every guest that walks through the door. Will that allow them to increase sales per square foot? We don’t know, but that is their hypothesis for it. This is what Schulman roughly means. He’s not talking about, look, we’re going to get a whole bunch of orders through the digital channels. He’s saying, let’s use the digital channel to help us get to know our customer better and do things to engage them differently and more deeply. If he’s right about this if the hypothesis holds, then sure, you could see more visits, more spending per square foot, and maybe some appreciation and loyalty. When you have dollars to spend on going out, maybe you’ll spend a little bit more with Cava than you did previously. Mary Long: Why does Cava want to get people into the store so much? Because I can see another type of restaurant, I would say, that leans into the Wingstop, the Domino’s approach of, hey, we can shrink down our square footage. We can push this whole thing to digital. What is the value for them in getting more people? Tim Beyers: Well, I’ll give you only one example of this because Cava does sell some of its own branded product in grocery stores. You go into a store and you’re going to buy some of their sauces. It’s a little bit like this is a terrible analogy, but I’m going to use it anyway, I think it makes sense. You go into Alta Salon. What are the every time I am not even remotely the person that buys product at the barber? But people do, you go to the barber and you walk out not just with a haircut, you walk out with some product. That happens all the time. You go into a Cava store. Will you walk in there and get a meal? Will you also walk out with some sauces and maybe something else? You might. I don’t know that that’s going to happen all the time, but there are other things you can do to enhance the amount you will spend inside the Cava store because it isn’t just a place where you get cafeteria food and you’re gone. It is a flavor mart, where you can go in and buy not just your meal, but also some things you’ll bring home to try when you’re cooking your own food. Mary Long: I’m going to take advantage of having you here today and hop us in the way back machine to a couple days ago when Toast, another favorite company of yours that you follow quite closely, reported earnings. This was last week Toast for those that don’t know is a vertically integrated restaurant software and hardware company. They had a pretty great quarter, one could say. They posted a third-quarter profit of $56 million. That’s after having had a loss of $31 million a year before. Not only that, but they raised their EBITA forecast for the year quite significantly. All of this, Tim, a time when other data, not Cava’s data, but other data would suggest that people are eating out less, feeling a bit more sensitive toward how they spend their money. How is Toast able to grow so much despite macro headwinds that, again, aren’t necessarily affecting Cava, which we just talked about, but that are hitting other parts of the restaurant industry? Tim Beyers: It’s a great question. Two things can be true. I’ve said that so many times and two things can be true here. The Fintech business, which is driven by guests going to and spending dollars with restaurants, that there was a modest sequential decline in ****** payment volume. ****** payment volume is the amount of spend at restaurants that are using Toast. It’s a very important metric for them. They make some money. This is the win-win part of the business. When Toast clients make money, guests come in, spend money at Toast restaurants. They get a piece of that and so more traffic into more Toast restaurants is good for Toast. But on a ****** payments volume per location basis, sequentially, that was down slightly. There’s your macro headwind. However, restaurateurs are spending on toast. They want it. They are signaling that they want it and the subscription revenue, which is the steady state piece of toast business, you pay a subscription fee for how much toast you use inside your restaurants. Restaurateurs are they’re taking on more toast product. They’re adding it to more locations and that does not change. That, irrespective of the macro headwinds, if restaurateurs are saying, We need more Toast, we want it in more locations, that is business that is not variable. That is steady and growing and it is growing up into the right. This has been true for Toast for a really long time that restaurateurs see the value and what they do. They bring it into their restaurants, and so they pay the subscription fee to have it. The fintech fee, which is a bit more variable and is subject to macro. That’s going to bounce around a bit. But the core business, that subscription business is going absolutely gangbusters, Mary, and it just shows no sign of slowing. Mary Long: Speaking of showing no signs of slowing, you and Tim White have a show on Motley Fool Live called This Week in Tech, and this past Friday, on that show, you said that you think Toast can bring in annualized returns of almost 19% over the next 10 years. I asked you this question earlier about another company, but I’m going to ask it again to you of Toast. What has to happen for that to be? Tim Beyers: In this case, there are two primary drivers of value for toast. It is the number of locations and the average spend per location, the average that they get, revenue per location for the restaurant clients that they serve. I think it’s fair to estimate that toast is going to grow the average spend per location from about 40,000 per location today. That’s a restaurant customer. Spends about 40,000 per location. On Toast subscription fees annually, and transaction fees, as well, about 40,000. I think they can get that to 55,000. In other words, raising it at the historic rate of inflation, about 3.3% over 10 years. I think that’s absolutely possible, very reasonable, 127,000 locations today. I think they can triple that. I think they can get to 350,000 locations pretty easily. That’s not quite a triple. It’s a little bit less than that. I think they can do that without too much problem. If I’m right about that, that gets you to that number. It might come a little bit short, depends on how much dilution there is in the stock price, but I think that is very reasonable because, again, the amount of uptake of Toast in locations that are here in the ******* States, it has been accelerating, not decelerating. In the most recent quarter, added about 7,000 locations. Same quarter a year ago added about 6,000 locations. I’ll give you one other super quick story here. Tim and I were co working yesterday in downtown Littleton. We went into a small coffee shop. They had a non-toast point of ***** system and I just happened to ask, it was called SpotOn, I think. This is interesting. What is this, and do you like it? The person behind the counter unprompted said, “That’s not bad. It works with the backend operations of places like ours, but it’s not as good as toast.” I never mentioned toast. I didn’t say anything about it. I said, toast is a lot better. I like it a lot more. But this thing is OK. That is the thing. Look, it’s completely unscientific, but I love hearing that, and that happens all the time, unprompted. What do you think? I think toast is great. When you have somebody whose experienced, is using the product day to day, and they are an advocate for it, your cost to acquire new revenue goes down substantially, the amount of free cash flow you can generate goes up substantially, and you become a very interesting investment for the long-term. Mary Long: New locations seems to be the key for not just Cava, but also for toast, two very different businesses that play in similar hungry spaces. Tim Beyers, thanks so much for joining me today. I think we’ve got a thanksgiving meal prepped for us, so we should go eat. Tim Beyers: We need to eat. Thanks, Mary. Mary Long: A lot more may soon be coming to movie theaters near you. Up next, Fool contributor Rick Munarriz joins me for a look at what a new renovation budget might mean for movie theater stocks. MALE_1: Turning an idea into a small business doesn’t happen by accident. You need to be all in. At Constant Contact, we have the digital marketing tools you need to get the word out, close the *****, raise the funds, and gather a community around this thing you’ve built. Let’s do this together. Let’s send this, share this and shout this from the rooftops. Let’s segment this, automate this and AI this for real results fast. Let’s get out of this what we put into this. Let’s build this. Let’s grow this. Let’s win this. Get started today at constantcontact.com. Mary Long: Rick, earlier this fall, the other NATO, that is the National Association of Theater Owners, announced a $2.2 billion renovation plan that’s set to revamp a bunch of different parts of the theater experience from snacks to seating. There are eight large chains that are really behind this deal. We’re going to talk about three of them later on in the show, but basically, this plan will impact nearly 70% of theaters in North America, and it’s going to roll out over the course of three years. What returns can movie goers, people like you and I expect to get out of this $2.2 billion investment? Rick Munarriz: The product is technically they’re already getting better over time. Since the pandemic, we’ve seen reserve seating, mobile ordering, all these things that make the experience more friction free and enjoyable, have popped up across the major chains. Enhanced concession stand offerings. That makes sense for the exhibit and also for the customer to have more variety of what they can get. This NATO that we’re talking about here is basically the eighth largest theater chains, so it’s basically practically two thirds of the market. I’m just hoping that the $2.2 billion isn’t just going to reclining seats or flavored popcorn or premium S’mores Milkshakes, or anything like that. It’s going to go to improving projection systems, sound systems. The announcers also mentioned a bowling, arcades, and other leisure offerings, which I think makes sense to movie theater, but it’s great to have a place where you can go to even when there’s not a movie you want to see out there. The industry, it has come back from the initial pandemic slump, and it’s time to invest in keeping it that way, and I think this is a smart move right now. Mary Long: This is kicking things back to last summer with the Barbenheimer release. But around that, you had so many people talking about, what it’s experiences that get people to the movies. Exactly what you just mentioned, whether it’s a bowling alley or something else, that’s an experience that’s different than the Barbenheimer variety, but could also certainly serve too, to get people back in in-person in theaters. During COVID, this will come as no surprise to most listeners. Movie theater tickets sales sharply plummeted. In 2019, the average person was buying a little less than four tickets a year. In 2020, that number sank to less than 1.7 tickets per person per year to be exact. It’s up since then, but it’s still far below those pre pandemic levels. Do you think that these renovations that you just mentioned, updating the sound systems, the screen systems, etc. Is that enough to bring people back to the movies? Rick Munarriz: No one goes to ******* Stadium or Dodger Stadium because the seats are comfortable or the projections are nice. They led the Major League Baseball in attendance this year because they’re the winners. They went to the World Series, sorry. But content matters is what I’m saying. Same thing with baseball, same thing with entertainment. When Wicked or Moana 2 hit Sears later this month, folks are going to go even if they have to sit in a lightly padded bleacher seat or a bed of nails. Unfortunately, the theater chains themselves can’t control the quality of the films or even the pipeline of how quickly they’re made. Movie theaters also can’t control studios that make these movies wanting to stream their movies sooner even though they have tried to negotiate longer release windows. I think what they can’t control and what still matters, it’s not necessarily renovation, but innovation. I like what some companies are doing. Like Cinemark is doing with their D-BOX seats. These are motion sensitive seats. That this has historically been a hockey flash in the pan, gimmicky thing. But with D-BOX, they have control, so you can actually control the intensity of the experience you’re experiencing, or shut it off completely because they are really nice padded seats to begin with and more importantly, you can just put a couple of these in each theater screen. You don’t necessarily have that the entire theater have this one platform, which sabotaged previous efforts on that. I do think there will be renovation, but I’m more excited about the innovation that’s going to happen. Mary Long: We’re going to turn the spotlight onto a couple of different specific movie theater stocks. But before we get there, how loyal are movie goers to a particular theater chain? Is convenience and location the name of the game here? Are most folks going to just go to the theater that has the most convenient time for the movie that they want to see and is closest to them or are really loyal theater goers saying, no, I exclusively go to Cinemark screens, for instance? Rick Munarriz: I think your first scenario may have been true about five, 10 years ago, but I think things are different now. I know this is going to be controversial, but I think MoviePass was the best thing that ever happened to theater operators. It made theaters disrupt themselves. When MoviePass eventually went belly up and came back in this half-hearted effort that’s probably going to fail again. You had these companies come up and say, let’s do it ourselves. Regal Unlimited, AMC Stubs, A-List. These are monthly subscription plans where you can see almost as many movies as you want in a month, but basically the price of two individual admissions. Cinemark and Marcus, they have a lightly little more restrictive movie clubs, as they call them. But it’s still got anchoring you to that silver screen outing to a single brand, and I think that’s what people are doing. They’re signing up for these plans, and they’re saying, this is going to make a lot more sense. I think it is a lot more effective than the loyalty rewards programs that they have been in place for ages, the fact that they have these subscriptions where you’re no longer looking at the other theaters. You’re saying, I’m a member of this AMC brand, I’m a member of this Regal Unlimited. That’s the theater I’m going to go to. I’ll work my schedule around the times that it’s showing the movie and with so many screens, odds are they’re showing the movie you want to see, if it’s a big movie about every 30, 40 minutes. Let’s turn and focus on Cinemark, specifically for a second. Of the companies that we’re going to look at today, this is the largest one by market cap. It’s worth about $3.8 billion. They reported third quarter earnings at the end of October, saw record high revenue for that *******, about $922 million. That’s up 5% year over year, and up 12% from the third quarter of 2019. Operating margin nearly 18%, which is a big improvement from the 7% that they saw in that same quarter pre-COVID. What has the key to Cinemark’s seemingly successful turn around been? I think the key is simple. Again, big movies are now back in the theaters. Back in the pandemic, you mentioned like 2020, no one was going to the theaters. When Tenet came out, I said, well, I’m not going to miss this movie. Even then, I was maybe 12 people at a theater that would have been jam packed. That movie came out a year or two earlier or a year or two later. Studios are now putting out the big movies. You’re seeing this come out, you have a third Avatar movie coming out next year. Obviously, you have a big Lion King sequel and other movies coming out just before the end of this year. All these things are happening right now, and Cinemark has done what some of its competition has. Unlike Regal that basically went through bankruptcy reorganization or AMC that just went lavished on all these other projects. Cinemark has basically been sticking to its netting , make sure it’s operationally more effective, taking advantage of the fact that people are hungry for movies, willing to pay more for concessions, and it’s all paying off on the bottom line and the top line. Mary Long: Pre-COVID, Cinemark used to have a dividend. They paused that during the pandemic. What would you like to see happen before Cinemark reinstates that dividend? Rick Munarriz: Dividends, they’re cool again. Now with interest rates heading lower, it’s attractive to have a little yield that may be competitive with a short-term, fixed income that you can get elsewhere. Royal Caribbean, Disney, these are some of the companies that have brought back their dividends this year for the first time since pandemic. Cinemark’s long-term debt right now is basically back down to where it was in 2019, and its profitability is actually higher. I’ve seen enough. I think this is a good time for it to bring back its dividend. If it doesn’t, I think maybe they’re just looking at maybe a potential acquisition or two that maybe their money is better spent that way. I think that they know what they’re doing. When they don’t announce a dividend, it’s because it’s the best use of their money. Mary Long: A company that plays in this theater space, but also plays in different segments as well is Marcus. They’re a bit unique out of the companies that we’re looking at today because, again, they’re not just a theater company. They also have a hotel portfolio. Does that diversification make Marcus a more compelling investment opportunity than its other publicly traded competitors? Rick Munarriz: I’m not so sure about that. Again, to me, the movie theaters at Marcus are still 63% of the revenue it was last year, and multiplex incessions is its highest margin segment. If you’re investing in Marcus, the hotels are nice, but you better believe in Tinseltown, if you’re buying in Marcus. It does diversify the business in an interesting manner, but it also opens Marcus up more to the economic cycle. If money’s tight, you’re still going to go see that movie you’ve been dying to see for weeks at the local theater. But you’re probably going to scale back and cancel that weekend getaway. Corporate travel and related lodging is also going to take a hit in a recession. This isn’t monopoly where you need hotels to win the game. Mary Long: Another thing that separates Marcus apart is that, unlike a lot of its peers, this company owns a lot of the underlying real estate for the majority of its theaters. If this is an advantage, why is Marcus unique among its cohorts in following this path? Rick Munarriz: It’s probably for the same reason why a lot of us rent instead of owning our own homes and properties and apartments. It’s cheaper in the near term. When you’re a chain looking to expand as quickly and as cheaply as possible, especially in the scalable business, it’s what works. Marcus is essentially a real estate company. The others are in the movie business. One last point on this is that movie theater chains, they need foot traffic, and you’ll often find that these theater chains happen to be in shopping malls or strip malls that are owned by landlords where you have to pay if you want to play movies. Mary Long: We can’t talk about movie theaters without talking about AMC. This is the biggest theater company by footprint, and yet it posted a net loss of nearly $21 million for the quarter. By comparison, Cinemark and Marcus, which we talked about earlier on were both profitable over the same quarter. What’s going on? Rick Munarriz: AMC, they have great ideas, but unfortunately lousy **********. AMC Stub A-list, it’s the best of the movie subscription plans. It’s the only brand that could get away with selling its popcorn pre-packaged in retail stores the way it did a couple of quarters ago. It’s the only movie theater in chain that gets lampooned in SNL. However, its share count has been exploding. Cinemark’s share count in the last five years has grown by 32%, Marcus just 2%. For AMC, it’s exploded 24 fold since 2019, and that’s adjusted for the reverse split it did. It’s insane. This doesn’t explain the net loss, but again, it gets divided into so many shares, but there’s an arrogance to the shareholder dilution here that reflects in a lack of cost controls and prioritizing spending initiatives. I’m not sure Nicole Kibbin walking into an empty movie theater is as strong a selling point as AMC thinks it is. Mary Long: Are you buying any of these companies? Or are there other entertainment plays out there that you like a bit more than Marcus, Cinemark, AMC, or other movie theater plays that we haven’t talked about today? Rick Munarriz: I don’t own any of the theaters right now. Cinemark is the one that I find the most interesting of the ones we’ve talked about today. It’s making smart moves, and it’s trading at a forwards earnings multiple in the mid-teens, very attractive on that front, and the dividend is going to come back if that matters for you. One related, the most theater adjacent movie stock that I like is IMAX. To me, IMAX is a company. It’s more expensive, trading at higher multiples than Cinemark, but this is a company that cashes in on the one part of the movie business that’s actually working right now. If you’re probably familiar with IMAX, you go into theater, you pay a premium to see an IMAX screening of this movie that’s supersize screen, supersize sound with sometimes additional footage shot for these IMAX screenings from these directors that love IMAX. Right now, if you’re going to a movie theater, you’re going to be that’s a big action movie, big superhero movie, big horror movie, big animated film for kids. You’re not going to see the Indie film on IMAX. Again, if you’re putting out Indie films, you’re probably not distributing through theaters effectively now because those are the movies that people are willing to wait to watch at home two or three months later. I really like IMAX here. Mary Long: Rick, we’re recording this in early November. We’re heading into what some might consider peak movie season. Are there any movies on the slate, like the release slate this fall/winter that you are especially excited to go see in theaters? Rick Munarriz: There’s a lot of big movies coming out. Obviously, Wicked. Just by the end of this month, you’ll have the screen adaptation of the Wicked Musical getting a lot of hype. Moana 2 is also coming out right before Thanksgiving week after Wicked, and that movie is as far as Disney goes, it’s their highest, the most views that they’ve have seen for a trailer that they put out within 24 hours of putting out. There’s a lot of anticipation for that movie. Gladiator 2. In December, you have Mufasa, another Lion King entry. There’s going to be a lot of exciting big movies coming out. Again, there’s a lot of movies coming out, obvious studios are comfortable and they trust the movie theaters to amplify their voice in the future. I’m excited. There’s a lot of great movies. I’ll be in theater a lot. I live two blocks from an AMC, so I will be there for many of these films I just mentioned. Mary Long: There we go. Making good use of your loyalty pass. Rick, thanks so much for chatting with me today and for giving us some insight into what the movie theater industry looks like now and could look like in the years to come. As always, people on the program may have interest in the stocks they talk about, and the Motley Fool may have formal recommendations for or against, so don’t buy or sell stocks based solely on what you hear. All personal finance content follows Motley Fool editorial standards and are not approved by advertisers. The Motley Fool only picks products that it would personally recommend to friends like you. I’m Mary Long. Thanks for listening. We’ll see you tomorrow. Mary Long has no position in any of the stocks mentioned. Rick Munarriz has positions in Royal Caribbean Cruises, Toast, and Walt Disney. Tim Beyers has positions in Chipotle ******** Grill, Toast, and Walt Disney. The Motley Fool has positions in and recommends Chipotle ******** Grill, Domino’s Pizza, Toast, and Walt Disney. The Motley Fool recommends Cava Group and Wingstop and recommends the following options: short December 2024 $54 puts on Chipotle ******** Grill. The Motley Fool has a disclosure policy. Valuing Cava Stock was originally published by The Motley Fool Source link #Valuing #Cava #Stock Pelican News View the full article at [Hidden Content]

As bird flu spread continues, why the recent jump to pigs raises worries – National As bird flu spread continues, why the recent jump to pigs raises worries – National Bird flu has spread far and wide, infecting a range of species like chickens, skunks, cows, foxes and polar bears and renewing questions about what level of risk it poses to people as a B.C. teenager ******** in critical condition in hospital after being infected. But it’s the recent jump to pigs that has experts on high alert, as swine offer the perfect conditions for the virus to mutate, making it a potential threat to human health. Last month, ******* States health officials reported the first case of avian influenza A(H5N1) in a pig on a backyard farm in Oregon, marking the first time the virus had been detected in pigs in the country. Days later, officials confirmed a second pig on the farm had also tested positive. “With every species it jumps to, it elevates the risk,” said Kerry Bowman, a professor of bioethics and global health at the University of Toronto. “But pigs are particularly worrisome species. The risk has risen yet again.” Story continues below advertisement Pigs represent a particular concern for the spread of bird flu because they can become co-infected with bird and human viruses, which could swap genes to form a new, more dangerous virus that can more easily infect humans. “Pigs can work as a mixing vessel, as they can have both bird flu and human flu simultaneously. And these things could recombine,” Bowman said, adding that this could result in the emergence of a new influenza A virus with different properties. These “mixing vessel” events have happened in pigs in the past; it is believed to have caused the 2009 influenza A(H1N1) pandemic, Bowman said. Currently, the risk of bird flu ******** low, but Bowman said every time the virus jumps to a new species, it raises the risk. 2:12 H5N1 avian influenza: B.C. reports 1st suspected human case of bird flu Earlier this month, British Columbia health officials announced the first case of a human avian flu infection acquired in Canada, with the teenage patient still in critical condition in hospital. It is still not known how the teenager was exposed, but the strain is related to viruses found in flocks in an outbreak at B.C. poultry farms. Story continues below advertisement Most recently, the U.S. Centers for ******** Control and Prevention (CDC) on Nov. 15 confirmed a highly pathogenic form of bird flu in a person in Oregon. The infected person is linked to a previous outbreak tied to a commercial poultry operation in the state, where the virus has been confirmed in 150,000 birds. And on Monday, U.S. health officials confirmed the presence of bird flu in Hawaii, the first case of the virus in a domestic flock in the state since the current outbreak began in 2022. Human infection with avian influenza is rare and usually occurs after close contact with infected birds, other infected animals or highly contaminated environments. Get weekly health news Receive the latest medical news and health information delivered to you every Sunday. But that could change rapidly if the avian virus finds a suitable host in which to mutate, Bowman warned. Commercial pig farming is the real worry Because the virus was detected in a backyard pig, it doesn’t pose a significant threat at the moment, but the real concern ***** with its potential spread in commercial pig farms, Bowman said. Story continues below advertisement “Industrial livestock is a nightmare; animals are kept in incredibly tight conditions. So it would spread very quickly in a commercial endeavour. And the other thing that goes on with commercial farming is pigs are moved around and sold, so there’s more cause of spread there,” he said. Levon Abrahamyan, a virologist at the University of Montreal, echoed Bowman’s worries. “Fortunately it was not a commercial pig farm,” he said. “The pig was probably infected by a wild bird. The risk is low at this moment.” He explained that it would be very concerning if a large pig farm were found to be infected with avian influenza. In that case, every effort should be made to localize the outbreak and eliminate the virus to prevent further spread. Abrahamyan said it’s usually difficult for avian flu to jump from birds to humans or from pigs to humans. 1:59 Avian Flu spreads to cows, raising concerns about cross-species transmission This is because viruses have surface proteins (a key) that must match specific receptors on the surface of host cells (the lock) to enter and infect the cell. Story continues below advertisement If the virus’s key doesn’t fit the cell’s lock, it can’t infect the cell, Abrahamyan said. In the case of avian and pig flu strains, when two different strains (from birds and pigs) infect the same host, their genetic material can mix, he explained. This can create a new virus with a combination of “keys” that might fit locks on human cells more effectively. “And that can be a dramatic change, and then the human immune system is not ready for that type of change,” he added. This is exactly what happened in 2009, during the H1N1 pandemic, also known as the “swine flu.” In this case, Abrahamyan said there was genetic mixing from human, bird and pig viruses. The pigs acted as mixing vessels, leading to the creation of a new subtype that could infect humans, and created a global pandemic. Trending Now These Canada-U.S. border crossing hours are changing next year. Here’s why These were Canada’s top 10 stolen vehicles in 2023 How to prevent a pandemic There has been no evidence of person-to-person spread of bird flu so far. But if that were to happen, the ingredients for a potential pandemic could be there, scientists have said. Story continues below advertisement Bowman said he’s concerned that Canada is not doing enough in terms of testing and surveillance. “Bird flu is not going away and it’s going to keep spreading in more species,” Bowman said. “If we look at this within Canada, a lot of species have bird flu now, a lot of our wildlife has it and domestic species and wild birds … and with every species this elevates.” He stressed the need for more surveillance and timely testing and reporting. The ********* Food Inspection Agency has also been testing milk for signs of H5N1 in dairy cows. There has not yet been any indication of the virus in ********* cows, but bird flu has plagued many herds in the ******* States. 1:53 What risk do zoonotic ********* pose? The Public Health Agency of Canada (PHAC) does wastewater testing for seasonal flu in several cities and towns across the country, including Toronto. But it doesn’t check specifically for H5N1 bird flu because it’s “not possible to differentiate positive wastewater signals that are due to wildlife versus human or livestock sources,” the agency told The ********* Press in an email. Story continues below advertisement “We also need incentives for people working with livestock, as many may not want to report it because they don’t want to deal with the problem. So we need more reporting and we need more surveillance,” Bowman said. Concerns about the availability of bird flu vaccines are also growing, experts say. Currently, there is no avian influenza vaccine available for public use in Canada, though there are some available globally. Angela Rasmussen, a virologist at the University of Saskatchewan’s Vaccine and Infectious ******** Organization (VIDO), told The ********* Press that Canada should consider stockpiling H5N1 vaccines, similar to the U.S., rather than relying on agreements with manufacturers to supply them on demand. 2:22 Health Matters: U.S. to pay Moderna $176M to develop bird flu vaccine This is because deploying an H5N1 vaccine under existing contracts could take three to six months. Story continues below advertisement However, PHAC stated in an email to The ********* Press that it is not stockpiling H5N1 vaccines due to their limited shelf life, is only up to two years. In an email to Global News in July, PHAC stated it has “proactively met with pandemic influenza vaccine suppliers (e.g., GSK, Seqirus and Sanofi) with whom we have an agreement for domestic or off-shore vaccine manufacturing to discuss pandemic influenza vaccine preparedness activities in order to inform steps that could be taken against avian influenza.” –With files from Reuters and The ********* Press More on Health More videos Source link #bird #flu #spread #continues #jump #pigs #raises #worries #National Pelican News View the full article at [Hidden Content]

Squid Game for your phone arrives on December 17 Squid Game for your phone arrives on December 17 We know that there’s been a Squid Game-inspired in the works since July. Now, Netflix is announcing Squid Game: Unleashed and dropping a trailer on YouTube. The game will be available on Netflix starting December 17. The multiplayer party royale (think Mario Party) will be available for everyone with a Netflix subscription, and you can now to get an exclusive skin when the game launches. The game’s cartoony art style may be eye-catching, but the gameplay will be violent. Fortunately, it’s not excessive, and there doesn’t seem to be any blood. While Netflix has made mobile spinoff titles based on famous franchises or exclusive shows for years now, it did try to branch out into . Sadly, it shut down its AAA studio, Team Blue, last month. Whether the streaming giant still has ambitions for ******* games ******** to be seen. You can play Squid Game: Unleashed on Android and iOS after logging in with your Netflix account credentials. If you’re interested in more Netflix games, is a great one. It’s a beautiful puzzle game and can be enjoyed without playing the previous two titles in the series. We also have a list of our favorite if these two aren’t enough. These include popular dungeon crawler roguelike Hades, GTA San Andreas and Terra Nil, a peaceful strategy game. Source link #Squid #Game #phone #arrives #December Pelican News View the full article at [Hidden Content]

Microsoft calls Recall one of its most ‘secure experiences’ Microsoft calls Recall one of its most ‘secure experiences’ Microsoft As part of its Ignite 2024 announcements, Microsoft has provided an update on how its AI-powered Recall feature will work in the context of an IT department. Noting that the company has “heard your feedback,” specifically in terms of it needing it to be more “secure and controllable,” Microsoft claims to have gotten its ducks in a row for the launch of its controversial new Windows 11 feature. Microsoft says that Recall “will ship with meaningful security enhancements, including additional layers of data encryption and Windows Hello protection, making it one of the most secure experiences we have ever built.” Whether or not this will be enough to satisfy the security community, however, is still to be determined. There’s been a concerted effort on Microsoft’s part to retool the feature to ensure better security, and the company is certainly taking its time. Recall was initially scheduled to be released for testing in June. The delay moved it back to October, and the latest update has moved it back to December. That still doesn’t indicate when a wider rollout to Copilot+ PCs will take place, though. Importantly, Microsoft restates that Recall will be disabled by default, but also that IT will need to manually enable it before making it available to employees. The feature has gone from being the flagship AI feature in Windows to being turned off by default — to now even being hidden entirely. Keeping it out of the hands of employees is certainly one way of ensuring that it’s safe. But hiding it from employees is essential for IT administrators to be able to do, especially in highly controlled or sensitive environments where PCs are used. Billed as giving your PC “photographic memory,” Recall was always going to be seen as highly suspect in the IT world. That’s especially true since Recall can’t, in fact, be uninstalled entirely. Microsoft The saga started earlier this year at Build 2024, where Recall was announced it as the flagship feature underpinning its new Copilot+ PC push. It was the primary way of selling the industry on the need for local AI processing in the form of the neural processing unit (NPU), so it’s crucial for Microsoft to gain back trust on this feature after its initial fumble. This is especially true with the rollout of Apple Intelligence on its heels. In addition to updates on Recall, Microsoft has also highlighted two other previously -announced AI features coming to Windows: Click To Do and Improved Windows Search. Click To Do uses the same technology as Recall to allow AI to see and interact with the apps on-screen, while Improved Windows Search uses AI to bring natural language searches across Windows. This includes both local and cloud files, as well as the Windows search box and Settings. None of these AI features are available just yet, so we’ll still have to wait through the coming months to try them out. Source link #Microsoft #calls #Recall #secure #experiences Pelican News View the full article at [Hidden Content]

Walmart says new Trump tariffs could raise prices Walmart says new Trump tariffs could raise prices A Walmart store in Martinez, California, US, on Monday, Nov. 18, 2024. Walmart Inc. is scheduled to release earnings figures on November 19. David Paul Morris | Bloomberg | Getty Images Walmart’s CFO John David Rainey said the retailer could have to raise prices on some items if President-elect Donald Trump’s proposed tariffs take effect. “We never want to raise prices,” he said in an interview with CNBC on Tuesday. “Our model is everyday low prices. But there probably will be cases where prices will go up for consumers.” Rainey added that it’s too soon to say which products could cost more due to the tariffs. Walmart’s CFO weighed in on the potential policy change as the largest U.S. retailer beat Wall Street’s earnings and sales expectations and hiked its full-year forecast. Lowe’s also addressed the risk posed by the tariff proposal as the home improvement company reported earnings on Tuesday. Walmart’s and Lowe’s comments are the latest warnings from U.S. retail leaders about the potential blowback from from the duties. During Trump’s presidential campaign, he said he would impose a 10% to 20% tariff on all imports, including levies as high as 60% to 100% for goods from China. On an earnings call, Lowe’s CFO Brandon Sink said about 40% of the company’s cost of goods sold comes from outside of the U.S., including direct imports and merchandise from national brands. He said tariffs “certainly would add product costs,” but added “timing and details remain uncertain at this point.” In an interview with CNBC, CEO Marvin Ellison said like other consumer-facing brands and retailers, Lowe’s is concerned about the risk of higher costs. He said it’s already having conversations with suppliers about the “what ifs of tariffs,” as it waits to see what Trump’s policy change will ultimately look like. “We’re not waiting to act,” he said. “We’ve got plans in place. We’ve got scenarios in place, and we’re trying to understand the implications.” The two companies are not the only major retail stakeholders raising concerns. In a statement earlier this month, National Retail Federation CEO Matthew Shay described across-the-board tariffs as “a tax on ********* families.” He said it “will drive inflation and price increases and will result in job losses.” The prospect of increased prices comes as inflation has moderated in the U.S., after years of stretching consumers’ wallets. Other retailers and brands have also spoken out about the potential drawbacks of the tariffs. E.l.f. Beauty CEO Tarang Amin told CNBC in an interview earlier this month that the company could be forced to raise prices if the higher duties take effect. Footwear maker Steve Madden said it will reduce the goods it imports from China by as much as 45% over the next year to try to avoid the financial impact. The majority of goods Walmart sells are not at risk of tariffs. Rainey said about two-thirds of the items that Walmart sells are made, grown or assembled in the U.S. Like other companies, Walmart has tried to import from different parts of the world rather than rely heavily on China or any one country, he said. Rainey added that levies placed during Trump’s first administration already caused the company to adjust. “We’ve been living under a tariff environment for seven years, so we’re pretty familiar with that,” he said. “Tariffs, though, are inflationary for customers, so we want to work with suppliers and with our own private brand assortment to try to bring down prices.” — CNBC’s Gabrielle Fonrouge contributed to this report. Source link #Walmart #Trump #tariffs #raise #prices Pelican News View the full article at [Hidden Content]

Star Wars 7-Game Nintendo Switch Collection Gets Big Discount For ****** Friday Star Wars 7-Game Nintendo Switch Collection Gets Big Discount For ****** Friday If you love Star Wars and own a Nintendo Switch, you’ll want to check out the ****** Friday 2024 deal on Star Wars: Heritage Pack. This rarely discounted collection of Star Wars games is on ***** for $40 at Amazon and Best Buy. The offer is featured in Best Buy’s official ****** Friday *****, and Amazon is matching it. Star Wars: Heritage Pack comes with seven classic Star Wars games, including the Jedi Knight and Knights of the Old Republic series. The $20 discount matches the best deal yet, which we last saw on Star Wars Day in May. Star Wars fans should also check out the ****** Friday deal on the Luke Skywalker’s Landspeeder Lego set, which is part of the premium Star Wars Ultimate Collector Series, at Amazon and Walmart. $40 (was $60) The physical edition of Star Wars: Heritage Pack typically sells for $60. Oddly enough, the digital version of the Star Wars: Heritage Pack still goes for $80 on the Switch eShop. In comparison, the physical edition was already a bargain at full price, but now you’re getting a 50% discount over the digital edition. Star Wars: Heritage collection pulls together seven classic Star Wars games: Star Wars Jedi Knight: Jedi Academy Star Wars Jedi Knight II: Jedi Outcast Star Wars Episode I Racer Star Wars Republic Commando Star Wars: The Force Unleashed Knights of the Old Republic (Downloadable) Knights of the Old Republic 2 (Downloadable) While the first five games are playable directly off the Switch cartridge, both Knights of the Old Republic are digital versions that need to be downloaded from the eShop–so make sure you have a good internet connection and a bit of space on your microSD card. Combined, the two KOTOR games clock in just shy of 30GB. If you need to expand your storage, microSD cards are pretty at Amazon and Best Buy ahead of ****** Friday 2024. Here are our favorite SanDisk and Samsung deals: SanDisk microSD Deals: For more gaming and tech deals, check out GameSpot’s ****** Friday hub. More Gaming, Tech, and Entertainment Deals & Preorders Source link #Star #Wars #7Game #Nintendo #Switch #Collection #Big #Discount #****** #Friday Pelican News View the full article at [Hidden Content]

Raspberry Pi 5 RAM-doubling upgrade demoed — going from 4GB to 8GB with the wave of a soldering iron Raspberry Pi 5 RAM-doubling upgrade demoed — going from 4GB to 8GB with the wave of a soldering iron An electronics upgrade and repair wizard has demonstrated how to boost the Raspberry Pi 5’s RAM quota. MadEDoctor shared a brief video on YouTube where they removed the 4GB RAM chip from a Raspberry Pi 5 and soldered on an 8GB alternative, commonly used on the older Raspberry Pi 4. No esoteric tools were used during the process, just a good quality soldering iron and hot air rework station, as you can find among our Best Soldering Irons and Stations 2024 page. Is it possible to upgrade the RAM on the Raspberry Pi 5? – YouTube Watch On The Raspberry Pi 5 and the 4 before it, both had multiple RAM options. Ranging from 1GB to 8GB (although we are yet to see a Pi 5 1GB, but there is a 2GB model), both boards just need a RAM chip to be swapped out in order to get the extra memory. The amount of RAM installed on a Raspberry Pi 5 is identified thanks to a 0 Ohm resistor soldered to the board. For the Raspberry Pi 4, we have to do a little detective work. The Pi 5’s LPDDR4X memory “is just a little bit faster than LPDDR4 memory” used on the Pi 4, according to the good ‘doctor.’ With no other material difference, it can be used for upgrades instead of the currently hard-to-source LPDDR4X ICs the Pi 5 uses. However, official specs suggest there is quite a notable difference in RAM speeds, upgrading from 3,200 to 4,267 MT/s using the newer LPDDR4X. MadEDoctor kicked off his RAM upgrade demo by hooking up a new Raspberry Pi 5 4GB to confirm it was operating flawlessly, fresh from the retail box. the 4GB model is the sweet spot for price versus performance. Although, the 2GB model does use the latest revision of the BCM2712, the D0. This cost-optimized version removes all of the non-Raspberry Pi specific logic and still provides a great overall experience. Interestingly, during the initial survey of the Pi 5 PCB, MadEDoctor informs viewers that the resistor showing the memory quota is there for visual effect only – moving it has no effect on the RAM recognized. This would be proved to be the case at the end of the video. So no free RAM upgrades by desoldering the 0 Ohm resistor! Getting on with the physical RAM chip removal task, the doctor’s advice seems to be that 410 degrees Celsius with 90% airflow is the sweet spot for a hot air workstation. Nearby heat-sensitive components were shielded by Kapton tape, by placing other inert hot air-blocking objects on or over them, or by temporary removal. We loved the use of a large washer to act as a weight and makeshift heatsink. Once the old BGA (Ball Grid Array) memory chip was removed, MadEDoctor got to work cleaning off the exposed pads using a soldering iron, flux, and solder braid. The goal was to leave the pads on the PCB as flat and clean as possible. Get Tom’s Hardware’s best news and in-depth reviews, straight to your inbox. Now, the PCB was ready for a fresh squirt of flux and installation of the replacement RAM chip. MadEDoctor set the hot air station to 370 degrees Celsius and 70% airflow to solder the new IC in place – frequently push-testing the IC to see when its solder ****** had joined up with the corresponding pads thanks to cohesive surface tension. (Image credit: MadEDoctor) With the job hardware mod done, any heat-sensitive parts of the PCB that had been removed out of caution were put back, and the new RAM quota and its functionality were confirmed by booting the Pi 5 and using software tools. If the above process sounds a little familiar, then you may remember the good doctor’s previous work in upgrading the Pi4 from 4 to 8GB of RAM. MadEDoctor also tried to fit 16GB memory on the Pi4, but with less success, as some apps/OSes didn’t recognize the expanded memory correctly. Source link #Raspberry #RAMdoubling #upgrade #demoed #4GB #8GB #wave #soldering #iron Pelican News View the full article at [Hidden Content]

Gold Gains Ground: How to Strategize for Long-Term Gains Gold Gains Ground: How to Strategize for Long-Term Gains The allure of is timeless, and the goal of every investor should of course be… to eagerly get more of it. According to State Street (NYSE:) and Investopedia, investors in the West are doing so aggressively, and 54% of these investors prefer investing in physical gold bullion rather than ETFs, futures, etc. The short-term cash gold price chart. As gold traded near $2800, I urged both gamblers and investors to prepare to buy gold at $2550-$2530, and gold promptly dipped into that zone. The price has bounced nicely. It’s already up almost $100/oz from our buy! On this short-term chart some congestion is apparent at $2630-$2690. A look at the daily chart. Gamblers can book light profits now. Investors should be prepared for a double bottom “********” scenario. Investing in gold (and anything, really) is more about preparation than price prediction. Most of what happens in markets is a surprise to investors, so prep for surprise is the obvious first order of business… and of survival. The weekly close price chart clearly illustrates the zones where gold bugs need to prepare to buy with the largest amount of fiat capital. The $2550-$2530 area was (and still is) a buy zone, but the congestion zone at $2450-$2300 is much *******, and “bigness” needs to be respected. The concerning US stock market chart. An ominous head and shoulders top pattern has appeared on the advance/decline line for the Dow. This is the first “****** in the armour” of the seemingly endless rally for the Dow and its risky SP500 and Nasdaq compatriots. It’s possible that Team Trump makes America great… but it’s also possible (and arguably probable) that they make inflation “great” too. The key US rates chart. While investors need to be prepared to buy more gold in the important $2450-$2300 zone, a near-imminent collapse in US interest rates could be related to a collapse in the stock market and a rush into gold. Money has poured into America in anticipation of a Trump victory, and that’s created upwards pressure on the , and on rates. Basis the Shiller/Cape ratio, the stock market was only moderately overvalued when Trump got elected in 2016, and it was breaking out of a very bullish inverse H&S pattern. Now? Now it looks like wax-winged Icarus, flying far too close to the sun! Ironically, Trump called the stock market overvalued in 2016… but says little to nothing about the situation now. This is a time for the government to prepare investors for a major ******, but instead all the US “Gmen” have their party hats on. It’s unlikely to end well. All the good Trump-oriented news is in now, and the only dollar-positive news in the pipeline would be safe-haven buying in the event of a vicious Russian government *******, in response to Biden’s “launch long-range missiles into Russia” scheme… But even that safe haven buying of US fiat would be dramatically overwhelmed by panic buying of gold! A daily focus on the big picture is critical for investors as inflation, recession, the 2021-2025 war cycle, a wildly overvalued stock market, debt ceiling horror, and empire transition dominate the investing landscape. I cover this big picture 5-6 times a week in my flagship Galactic Updates newsletter. At $199/year, investors feel the price is too low, but I’m offering a $179/15mths “special offer” that investors can use to get in on the winning action and meticulous analysis. What about ? Silver bugs have a developing H&S top situation to contend with, but silver follows gold. If rates and the dollar roll over in response to a tumbling stock market, it’s likely that gold surges to a fresh all-time high. Silver would follow the metals market leader and likely trade near or even above its own high in the $50 area. This long-term chart reveals a much more bullish posture for silver than the daily does. The $35 area was a congestion zone in the bull runs of both 2011 and in 1980. A pause was expected and it’s in play now. The weekly chart for GDX (NYSE:) targets a move to $60, and the current pullback is also expected and normal. Investors need to brace for the potential double bottom emotional ******** scenario, but the great news is that if it plays out, the weekly chart oscillators would likely become nicely oversold, almost guaranteeing the next move would be a beautiful upside breakout and fast surge to $60! Source link #Gold #Gains #Ground #Strategize #LongTerm #Gains Pelican News View the full article at [Hidden Content]

Socrates, the Founder of Western Philosophy Socrates, the Founder of Western Philosophy The ****** of Socrates by Jacques-Louis David. Public Domain Socrates is the most important exponent of Western philosophy, with his ideas forming a continuum from Ancient Greece to today’s Western thought. It has been said of Socrates that he “brought philosophy down from the stars to the earth,” because, thanks to his own personality, philosophers ceased to deal with natural phenomena and began to deal with man and society. In fact, many philosophers before Socrates dealt with political problems, while Democritus grappled with ethical issues. However, it was Socrates who advanced these issues by applying philosophical thinking to them. The reason that Socratic interests marked the history of philosophy is found in the Socratic way of thinking itself, in the fact that Socrates was not interested in the right way of living and action, either personally or socially. Contrary to philosophers before him, Socrates sought the principle of every moral concept, which is not influenced by historical and social conditions nor by individual perception. In other words, he sought the absolute and rejected the relative; he studied the essence of morality and disregarded outward moral issues. Socrates’ ideas about morality brought him to the courts of Ancient Greece, where he was accused of disrespecting the gods, being a subversive and of corrupting young people. The charges were very serious and the philosopher was sentenced to ******, a sentence he received without complaint. Life of Socrates Socrates was born to Sophroniscus and Faenarete in Alopece, a deme of Athens. His father was a stone cutter and Faenarete a well-known midwife. Socrates lived with his family in Alopece, somewhere near the border of today’s Ano Nea Smyrni and Palaio Faliro. Very little is known about his childhood; however he had a natural intelligence for all things without having received any formal education. It is said that as a child, Socrates lacked good manners and helped his father in the stonecutting business. According to historian Porphyrius, he was disobedient to his father’s orders. Socrates began learning the art of sculpting but later abandoned it. According to Pausanias, in Athens there was a marble relief depicting the three graces, which was said to have been made by Socrates himself. It is said that one time the philosopher Archelaus entered the workshop where Socrates was working and was impressed by the young man’s arguments in claiming payment from a customer. At the time, Socrates was 17 and Archelaus invited him to become his student. However, Socrates had said that he had also been trained by Prodicus, to whom he paid tuition. Soon Socrates abandoned sculpture to devote himself to philosophy. He spent the rest of his life teaching — not in school, but discussing morality, religion, social and political issues in every part of the city with people from all walks of life. In 431 BC, when the Peloponnesian War was about to break out, Socrates fought at Potidaea – a city-state threatening to break away from Athens. Socrates fought in the battlefield and also in the subsequent siege of the city. The philosopher fought in the campaign for three years, returning to Athens as part of a victorious army, while also distinguishing himself on the battlefield. With the first phase of the Peloponnesian War raging, Socrates fought at the Battle of Delium. The battle, in 424 BC, provides the first recorded incident of what call today “friendly *****” casualties. The reason was that confused hoplites began fighting each other, unable to distinguish fellow Athenians from their enemies, the Boeotians. Despite some early victories, the Athenians were defeated. Nevertheless, Socrates seems to have maintained some order in his retreat. The Athenian general Laches praised the philosopher, saying: “If all the Athenians had fought as bravely as Socrates, the Boeotians would have erected no (victory) statues.” Socrates’ last military service was at Amphipolis. Approaching 48 by then, his role in the battle is unclear. Spartan victory at Amphipolis soon led to an armistice with Athens, and the first phase of the war was over. After the war Socrates married Xanthippi, with some historians claiming that he later married a woman named Myrto. It is also said that since many Athenians were ******* in the Peloponnesian War, a special law was passed that allowed married men to have children with another woman. Plato and Xenophon, however, mention only Xanthippi, a strong-headed, mouthy woman. In a dialogue between Socrates and Alcibiades, Alcibiades wonders how he can withstand the nagging of Xanthippi — to which Socrates answers: “Just as you withstand the croaking of geese, because they give you eggs and goose chicks, so Xanthippi gives me children, too.” Regardless of whether there were two wives or one, Socrates had three sons: Lambrocleas, Menexenos and Sophroniscus. All later philosophers and historians agreed that Socrates’ three sons were not distinguished in anything, while Aristotle even described them as lazy. Xanthippi is mentioned by Xenophon in the play “Symposium”, where Antisthenes characterizes her as the most difficult to withstand of all women that ever existed. Socrates, when asked how he endured living with such a woman, replied that just as those who wish to become the best horsemen choose the most wild of horses to tame, he chose Xanthippi so he could learn to deal with all people, even the most difficult. Socrates’ marble portrait at the Louvre. Credit: Sting/Wikimedia Commons CC BY-SA 2.5 The philosophy of Socrates Socrates did not leave any written works. However, his student Plato recorded the dialogues he had with his teacher — and through them we see Socrates’ way of thinking. Initially engaged in cosmological theories in the hope of discovering how the universe works but frustrated by the conjectures of the natural sciences, Socrates decided to embark on his own journey in search of true wisdom. According to some sources, the iconic Greek philosopher was more interested in the moral development of man and his shaping as a good citizen. However, according to the dialogues with Plato, he had an instinct for metaphysics and ***** the foundations of a transcendental philosophy. Plato’s early works on Socrates most certainly contain Socrates’ way of thinking, while his later writings most probably reflect ideas of Plato himself. Aristotle attributed to Socrates the use of inductive logic or inductive symbolism aimed at discovering a universal and unchangeable definition. That is, the ability to achieve an accurate concept or definition in a subject. Socrates seems to consider important a universal definition that is mainly related to moral behavior and considers it useful to keep man away from the vortex of the relativity of sophism, which has a strong presence in our time. For example, if we have a universal definition of justice, we have a secure basis for not only judging the action of an individual but also for the solid construction of the moral rules of society. By inductive reasoning, Socrates was not so much interested in solving problems of logic, but in discovering a universal or rather universal definition. Using the dialectical method (i.e., dialogue) he started from a less precise definition and reached a more precise, valid and universal definition through intense dialogue with his interlocutor. This method could be humiliating for many as it proved their ignorance but also because Socrates was particularly eager to provoke the debate. The humiliation of the interlocutor was not Socrates’ purpose. His sole purpose was to discover the truth. Socrates called this method the “obstetric method”, as it aimed to lead to the birth of a true and absolute definition or an entirely true idea. Socrates’ mission was to try to persuade people to tend to their soul and encourage them to be noble, and virtuous and to try to find the wisdom that ***** within them. He urged people to follow moral rules and always be just. For Socrates, justice is what helps man to achieve true happiness and to have balance in his soul. Socrates believed that pleasure is good, but true and lasting happiness can only be achieved by moral people. Socrates argued to the end that there is a higher eternal human nature, with universal moral values ​​that serve and guide human behavior. The trial and ****** of the great philosopher In 399 BC, the great Athenian philosopher was taken to court on two charges: asebeia (impiety) against the pantheon of Athens, and *********** of the youth of the city-state. The accusers cited two impious acts by Socrates: “failing to acknowledge the gods that the city acknowledges” and “introducing new deities.” The ****** sentence was the legal consequence of asking politico-philosophic questions of his students, which resulted in the two accusations of moral *********** and impiety. At trial, the majority of the jurors voted to convict him of the two charges; then, consistent with common legal practice voted to determine his punishment and agreed to a sentence of ****** by drinking a poisonous concoction of hemlock (conium maculatum). Socrates had many followers who would gladly have acted to save him from the ****** penalty. Crito, a wealthy friend of Socrates, told the philosopher that he would bribe the guards so he could escape from jail. Socrates, however, flatly refused to be rescued — possibly because he believed that a philosopher should not ***** ******. Plato’s Apology of Socrates is an early philosophic defense of Socrates, presented in the form of a Socratic dialogue. Socrates asks the jury to judge him by the truth of his statements, not by his oratorical skill. Although Aristotle later classified the dialogue as a work of fiction, it ******** today as a useful historical source about the great philosopher. Aristotle believed the dialogue, particularly the scene where Socrates questions the judge, Meletus, represented a good use of interrogation. Except for Socrates’ two dialogues with Meletus, about the nature and logic of his accusations of impiety, the text of the Apology of Socrates is in the first-person perspective and voice of the philosopher Socrates. During the trial, in his speech of self-defense, the ancient philosopher twice mentions that Plato is present at the trial. Later historians suggest that the true reason behind Socrates’ prosecution and ****** penalty were political, as the government of Athens was turning away from democracy after the defeat in the Peloponnesian War. Socrates’ famous quotes The only true wisdom is in knowing you know nothing. True wisdom comes to each of us when we realize how little we understand about life, ourselves, and the world around us. There is only one good, knowledge, and one evil, ignorance. When the debate is lost, slander becomes the tool of the ******. The easiest and noblest way is not to be crushing others, but to be improving yourselves. Wisdom begins in wonder. When you want wisdom and insight as badly as you want to breathe, it is then you shall have it. Remember that there is nothing stable in human affairs; therefore avoid undue elation in prosperity, or undue depression in adversity. Remember what is unbecoming to do is also unbecoming to speak of. Be of good cheer about ******, and know this of a truth, that no evil can happen to a good man, either in life or after ******. He who is not contented with what he has, would not be contented with what he would like to have. The unexamined life is not worth living. Think not those faithful who praise all thy words and actions; but those who kindly reprove thy faults. We can easily forgive a child who is afraid of the dark; the real tragedy of life is when men are afraid of the light. Not life, but good life, is to be chiefly valued. Only the extremely ignorant or the extremely intelligent can resist change. I know that I am intelligent, because I know that I know nothing. In childhood be modest, in youth temperate, in adulthood just, and in old age prudent. The greatest blessing granted to mankind comes by way of madness, which is a divine gift. He is richest who is content with the least, for content is the wealth of nature. I cannot teach anybody anything, I can only make them think. Contentment is natural wealth; luxury is artificial ********. It is better to change an opinion than to persist in a wrong one. Understanding a question is half an answer. Prefer knowledge to wealth, for the one is transitory, the other perpetual. The only good is knowledge and the only evil is ignorance. Source link #Socrates #Founder #Western #Philosophy Pelican News View the full article at [Hidden Content]

Morgan Stanley sees 25% upside in new autonomous driving pure play Morgan Stanley sees 25% upside in new autonomous driving pure play Autonomous driving technology company WeRide has plenty of room to grow as a result of its early-mover advantage in the global self-driving market, according to Morgan Stanley, which brought the firm public in an initial public offering last month at $15.50 a share . Analyst Tim Hsiao initiated research coverage of Guangzhou, China-based WeRide with an overweight rating and a price target of $23, implying more than 25% upside for the stock versus Monday’s close. WeRide rallied as much as 6% in early trading Tuesday to $19.43. WeRide offers several driverless vehicles such as robobuses, robotaxis and robovans; holds driverless permits in the U.S., China, the ******* ***** Emirates and Singapore; and is involved in trial and commercial activities in 30 cities. The company has partnered with Uber in the UAE, and Hsiao expects its robotaxi and robovans segments to achieve large-scale commercialization by 2026. Morgan Stanley estimates the global autonomous driving market size will jump to $1.745 trillion in 2030 from $93 billion in 2025. “WeRide is a pure play in global L4+ autonomous driving,” Hsiao wrote in a 38-page report on Tuesday. Level 4 autonomous driving describes when a vehicle can drive in most circumstances without a human driver, one step below the top-most Level 5 designation for a fully automated vehicle . Hsiao added that WeRide “can generate greater operating leverage and synergies across products than its peers, given its diverse product offerings.” The threat of tighter regulation on driverless vehicles is a downside risk for the stock, and Morgan Stanley forecasts WeRide’s earnings and cash flow will remain “volatile” in the near term, Hsiao noted. WRD ALL mountain WeRide shares since its October IPO. — CNBC’s Michael Bloom contributed to this report. Source link #Morgan #Stanley #sees #upside #autonomous #driving #pure #play Pelican News View the full article at [Hidden Content]

‘Will to ******* lifts Scotland from Euros gloom’ ‘Will to ******* lifts Scotland from Euros gloom’ Scotland are now chasing away the desperate fatalism that gripped the nation after that loss to Hungary and during the epic run of one win in 16 games, but there’s a lot left to be done. The League A relegation play-off in March for starters. For seconds, a World Cup qualifying campaign that will require luck in the draw to navigate. How will things be looking come March? Scotland have a goalscoring legend in McGinn and a steady contributor in Scott McTominay, but they still only finished with seven goals from six Nations League games. The lack of a striker is still the great bugbear. Che Adams, Lyndon Dykes, Lawrence Shankland and Tommy Conway all had a ****** at it. They all work hard, they’re all capable of playing their part in creating chances for the midfielders, but none of them scored in the Nations League. That’s a problem without a solution right now. There’s nobody coming through. Clarke always says that it doesn’t really matter where the goals come from as long as they come. And he’s right. For Scotland to progress to the next level, though, you suspect that they’re going to need more creativity and more ruthlessness up front. The emergence of Ben Doak, therefore, has been a thrilling step in the right direction. The contributions from Ryan Gauld from the bench have also been noteworthy. Scotland have a long way to go on the offensive side but the Poland game showed that there’s a will to ******* now which wasn’t really there in the dispiriting summer in Germany. Being so competitive in six League A games against stellar opposition can only help Scotland mature. Things will get really interesting when some of the injured stars return to the fold. They might get more interesting again if the young thruster Lennon Miller keeps progressing so rapidly. A team that began with worrying losses on the road to Germany before disappearing down a ***** end at the tournament proper has reversed out of the darkness and appears to be heading for the light again. The Nations League relegation tussle and the World Cup qualifiers will be the ultimate proof of that, but at least Clarke can take comfort from the fact that even his most excitable critics have fallen relatively silent for now. That’s if he ever cared about the noise in the first place, which is doubtful. Source link #******* #lifts #Scotland #Euros #gloom Pelican News View the full article at [Hidden Content]

New Xbox Game Pass titles for console, PC and Cloud announced New Xbox Game Pass titles for console, PC and Cloud announced Microsoft has confirmed the next wave of titles coming to Xbox Game Pass for console, PC and Xbox Cloud Gaming. Headline additions to the service in the second half of November include Microsoft Flight Simulator 2024, which is out today, and Stalker 2, which will be released tomorrow. Titles leaving Game Pass this month include Rollerdrome, Hello Neighbor 2 and Conan Exiles. Coming to Game Pass Microsoft Flight Simulator 2024 (Cloud, PC, and Xbox Series X|S) – November 19 on Game Pass Ultimate, PC Game Pass Stalker 2: Heart of Chornobyl (Cloud, PC, and Xbox Series X|S) – November 20 on Game Pass Ultimate, PC Game Pass Little Kitty, Big City (Console) – November 20. Now with Game Pass Standard PlateUp! (Console) – November 20. Now with Game Pass Standard Nine Sols (Cloud, PC, and Xbox Series X|S) – November 26 on Game Pass Ultimate, PC Game Pass Aliens: Dark Descent (Cloud, Console, and PC) – November 27 on Game Pass Ultimate, PC Game Pass, Game Pass Standard Leaving Game Pass on November 30 Conan Exiles (Cloud, Console, and PC) Coral Island (PC) Hello Neighbor 2 (Cloud, Console, and PC) Remnant: From The Ashes (Cloud, Console, and PC) Rollerdrome (Cloud, Console, and PC) Soccer Story (Cloud, Console, and PC) Spirit of the North (Cloud, Console, and PC) The Walking *****: The Final Season (PC) While the Iron’s Hot (Cloud, Console, and PC) ****** Ops 6 became the first Call of Duty title to hit Game Pass on day one when it was released last month. “[The] launch of ****** Ops 6 was the biggest Call of Duty release ever, setting a record for day one players as well as Game Pass subscriber adds on launch day,” according to Microsoft CEO Satya Nadella. “Game Pass also set a new Q1 record for total revenue and average revenue per subscriber”, he added during the company’s quarterly earnings call in October. Source link #Xbox #Game #Pass #titles #console #Cloud #announced Pelican News View the full article at [Hidden Content]

5G and LTE CBRS market to exceed $1.3bn by 2027 5G and LTE CBRS market to exceed $1.3bn by 2027 Annual spending in the US on Citizens Broadband Radio Service (CBRS) networks will surpass $1.3bn by 2027, driven by private cellular, neutral host and fixed wireless broadband network deployments, along with a slow but steady expansion of investments in 5G buildouts to enhance cable operators’ mobile virtual network operator (MVNO) services, according to research. SNS Telecom & IT’s LTE & 5G NR-based CBRS networks: 2024-2030 report noted that the three-tiered, hierarchical framework for coordinated shared use of 150MHz of spectrum in the 3.5GHz CBRS band is experiencing a renewed wave of enthusiasm. As a result, the analyst expects annual investments in LTE and 5G NR-based CBRS radio access networks (RAN), mobile core and transport network infrastructure to grow at a compound annual growth rate of approximately 15% between 2024 and 2027 to surpass $1.3bn by the end of 2027. This reinvigoration of interest is said to have followed many years of regulatory, standardisation and technical implementation activities. The relaxation of rules and guidelines – collectively referred to as CBRS 2.0 – extends uninterrupted commercial operations in the CBRS band from 78% to 97% of the total US landmass, among other refinements. In addition, there has been a boost from new proposals by US regulator the Federal Communications Commission aimed at fostering innovation and continued growth of CBRS networks through additional changes to the spectrum-sharing framework. These range from higher transmit power levels to interference protection for critical private network users in indoor facilities. Although the shared spectrum arrangement is access technology neutral, the analyst stressed that the 3GPP cellular wireless ecosystem is at the forefront of CBRS adoption, with close to half of the more than 400,000 active CBRS devices being based on standardised LTE and 5G NR air interface technologies. The report noted that LTE-based CBRS deployments encompass hundreds of networks – operating in both General Authorised Access (GAA) and Priority Access License (PAL) spectrum tiers – to support use cases including mobile network densification, fixed wireless access (FWA) in rural communities, MVNO offload and private cellular networks in support of the industrial internet of things (IIoT), distance learning and smart city initiatives. Additionally, there has been a surge in the adoption of CBRS small cells as a cost-effective alternative to distributed antenna systems (DAS) for delivering neutral host public cellular coverage in carpeted enterprise spaces, public venues, hospitals, hotels, higher education campuses and schools. Examples of LTE-based CBRS networks supporting neutral host connectivity to one or more national mobile operators include Meta’s corporate offices, City of Hope Hospital and the University of Virginia. Commercial roll-outs of 5G NR network equipment operating in the CBRS band are also well underway, and are said to be laying the foundation for advanced application scenarios with more demanding performance requirements in terms of throughput, latency, reliability, availability and connection density. Examples of these encompass Industry 4.0 applications such as connected production machinery, mobile robotics, automated guided vehicles and augmented reality-assisted troubleshooting. SNS Telecom & IT also highlighted 5G NR-based CBRS network installations ranging from private 5G projects at the manufacturing and logistics facilities of Tesla, Toyota Material Handling, BMW Group, John Deere, LG Electronics and Walmart, to Comcast and Charter’s ongoing 5G RAN buildouts based on strand-mounted CBRS radios. Going forward, the analyst predicted that much of the growth in the sector will be driven by private cellular, neutral host and fixed wireless broadband network deployments, followed by a slow but steady expansion of investments in 5G buildouts aimed at improving the economics of cable operators’ MVNO services. Complemented by an ever-expanding selection of 3GPP Band 48/n48-compatible terminal equipment, SNS Telecom & IT forecasts the market size for end user devices is even *******, with unit shipments of IIoT and FWA devices projected to account for $2.4bn in annual sales by 2027. Source link #LTE #CBRS #market #exceed #1.3bn Pelican News View the full article at [Hidden Content]

Global equity returns disappearing as U.S. stock market rockets higher Global equity returns disappearing as U.S. stock market rockets higher The U.S. stock market has been having a party for most of November, but it hasn’t invited the rest of the world to join the fun. As the market turned mixed following early losses Tuesday, the S & P 500 and other major averages have posted solid gains during the month. The large-cap benchmark is up more than 3% in November, rallying around the presidential election that sent Donald Trump back to the White House for a second term. However, the U.S. market hasn’t been spreading the love. Global stocks have largely fallen as the U.S. has rallied, the result of a confluence of factors. “Non-US stocks’ [year-to-date] dollar-based returns have gone from respectable to terrible in just 7 weeks, partly due to currency and partly from underperforming local markets,” Nick Colas, co-founder of DataTrek Research, wrote in his daily market note Monday evening. “No major single-country equity index has offered a productive hiding place from Q4’s rest of world sell off.” The iShares MSCI ACWI ex U.S. ETF (ACWX) serves as an effective proxy for the trend. The fund gauges how global stocks ****** U.S. equities are performing, and it features names such as Taiwan Semiconductor , Tencent and Novo Nordisk . ACWX .SPX 3M line International vs. domestic stocks ACWX has slid 1.7% in November and is now up just 5% year to date. The fund fell about 0.2% in morning trade Tuesday, underperforming the S & P 500 . The broad market index was marginally higher on the day and has soared nearly 24% year to date. One culprit has been U.S. dollar outperformance against its global counterparts. The dollar index has jumped more than 2% in November, and has climbed nearly 5% year to date. A strong greenback reduces the value of assets owned in foreign currency and makes ********* exports more expensive in other countries. That also can harm global companies domiciled in the U.S., but thus far hasn’t had a major impact. .DXY 3M line Dollar index The underperformance of global stocks might provide some temptation to ***** in at a time when they appear undervalued. But Colas cautioned against that, given Trump’s intention to launch another round of protectionist trade policies . “We continue to prefer US equities over rest of world stocks, even as the latter’s remarkable underperformance this year makes them statistically cheaper and non-US currencies are probably due for a bounce soon,” he wrote. “US government policy will be materially different next year from the last 4 years, and it will be difficult for global asset owners to justify incremental allocations to international equity markets until we know exactly how different it is,” Colas added. Source link #Global #equity #returns #disappearing #U.S #stock #market #rockets #higher Pelican News View the full article at [Hidden Content]

Labuschagne thrilled by arrival of old friend McSweeney Labuschagne thrilled by arrival of old friend McSweeney Marnus Labuschagne gets goosebumps thinking about Nathan McSweeney’s journey to become Australia’s 467th men’s Test player. Source link #Labuschagne #thrilled #arrival #friend #McSweeney Pelican News View the full article at [Hidden Content]

Spider-Man 2, Alan Wake 2, Stellar Blade are All Struggling With PS5 Pro But 1 Star Wars Game’s Issues are Disastrously Drastic Spider-Man 2, Alan Wake 2, Stellar Blade are All Struggling With PS5 Pro But 1 Star Wars Game’s Issues are Disastrously Drastic The PS5 Pro launched earlier this month with promises of enhanced visuals and better performance, backed by Sony’s new PSSR upscaling technology. At $700, this mid-generation upgrade was meant to be the ultimate way to experience both current and upcoming PlayStation titles in their full glory. $699.99. Disc drive (and stand) not included. | Image Credit: Sony However, early adopters are discovering that the reality might not quite match up to those lofty promises. A peculiar “shimmering” effect has been reported across multiple titles, raising concerns about the effectiveness of Sony’s new upscaling technology. Most concerning of all, these problems aren’t limited to a single game or developer. Even Sony’s crown jewels appear to be struggling with the new hardware, raising questions about whether this premium console is really worth its premium price tag. PS5 Pro’s “Shimmering” Struggles With First-Party Titles The issue first gained widespread attention when ResetEra user Chaystic started a thread describing their experience with the new console: I love my PS5 Pro for the most part, most games look wonderful, but there seems to be an issue with some games. There’s this weird shimmering, aliasing, whatever you wanna call it. I thought my Pro was faulty or something, but it turns out I’m not the only one who noticed it. This “shimmering” effect manifests as a distracting visual artifact, particularly noticeable in games that use ray tracing or have complex foliage. The problem seems most jarring in titles that should, theoretically, be best optimized for the new hardware, including Sony‘s own first-party releases. Marvel’s Spider-Man 2, the console’s current flagship exclusive (at least until its upcoming PC release), hasn’t been spared from these issues. As fellow ResetEra user Bumble Berry noted: I have a friend with the pro and he said this was happening with Spiderman when he was making comparisons. The severity of the issue appears to vary from game to game, with some titles being more affected than others. Players have reported particularly noticeable problems in recent releases like Alan Wake 2, where the implementation of PSSR seems to be causing more visual artifacts than improvements. Another user, Byron Hinson, shared their observations about the inconsistent nature of these issues: Didn’t see it any in spider-man 2 myself. Alan Wake you will as its really bad patch and silent hill 2 patch is bugged. Even with dedicated PS5 Pro optimization patches, games are handling the new PSSR technology with varying degrees of success. Take Stellar Blade, for instance. While it received comprehensive PS5 Pro support with update 1.008, including new “Pro” and “Pro Max” modes, some users are still reporting visual quirks when using PSSR: Noticed it in Stellar Blade in the mode that uses PSSR. The tech still needs work apparently. What makes these issues particularly concerning is that they’re appearing despite developers’ specific optimization efforts for the PS5 Pro hardware. The widespread nature of the problem suggests that there might be fundamental issues with Sony’s PSSR technology that need to be addressed. The Technical Nightmare That Is Star Wars Jedi: Survivor An “upgrade” that is inferior to the base version. | Image Credit: EA While the “shimmering” effects in PlayStation exclusives are concerning, they pale in comparison to the problems plaguing Star Wars Jedi: Survivor. Digital Foundry’s recent analysis has revealed that the game’s implementation of PSSR is producing significantly worse results than traditional upscaling methods. The problems are so severe that EA has had to publicly acknowledge them on social media: We’re aware of issues with Star Wars Jedi: Survivor on PlayStation 5 Pro and are actively investigating. — EA Star Wars (@EAStarWars) November 18, 2024 Digital Foundry’s detailed breakdown shows that the game’s image quality on PS5 Pro is noticeably inferior to both the base PS5 version and the same game running with FSR on other platforms. The analysis points to fundamental issues with how PSSR handles certain visual elements, particularly during high-motion sequences and in scenes with complex geometry. What’s particularly troubling is that these issues persist even in the game’s “Quality” mode, which should theoretically provide the best possible visual experience. Instead, players are reporting severe image degradation, unstable frame rates, and visual artifacts that weren’t present even in the base PS5 version. The situation raises serious questions about the viability of Sony’s new upscaling technology as a competitor to established solutions like FSR and DLSS. If a major release like Star Wars Jedi: Survivor is struggling this badly with PSSR, what does this mean for future third-party titles on the platform? Have you experienced any of these visual artifacts on your PS5 Pro? Which games seem to be handling the new hardware better than others? Share your thoughts in the comments below! Source link #SpiderMan #Alan #Wake #Stellar #Blade #Struggling #PS5 #Pro #Star #Wars #Games #Issues #Disastrously #Drastic Pelican News View the full article at [Hidden Content]

CMA clears Google over Anthropic partnership CMA clears Google over Anthropic partnership The Competition and Markets Authority (CMA) has said Alphabet’s partnership with Anthropic does not qualify for investigation under the merger provisions of the Enterprise Act 2002. In October 2023, Alphabet invested $2bn in OpenAI rival Anthropic. The artificial intelligence (AI) startup has also received $4bn funding from Amazon. The CMA is concerned that the foundational model sector is developing in ways that risk negative market outcomes. In particular, the likes of Google, Amazon, Meta, Microsoft and Apple have the market dominance to buy up or shut down competition. It is also worried that partnerships between these major technology providers and developers of AI foundation models may limit choice and be anti-competitive. In September, the CMA concluded its investigation of Microsoft’s hiring of key staff from Inflection, finding that Inflection AI was not a strong competitor to the consumer chatbots Microsoft has developed directly in partnership with OpenAI. Discussing the outcome of the latest investigation, Joel Bamford, executive director of the CMA, wrote on LinkedIn: “Our investigation has shown that Google has not acquired the ability to materially influence Anthropic’s commercial policy and therefore the partnership does not meet the jurisdictional threshold for *** merger control to apply.” He described the conclusion of this latest investigation as “another decision by the CMA which provides greater clarity for businesses and their investors”. In a summary of its findings from the phase one investigation into the deal, the CMA said it did not believe Google had acquired material influence over Anthropic as a result of the partnership. The CMA said it looked at the risk of Google exercising influence over Anthropic at shareholder and/or board level, along with an assessment of Google’s own Vertex AI product. “The available evidence did not indicate that Google has the ability to exercise material influence over Anthropic through the partnership,” the CMA concluded. The CMA said it had considered the fact that Anthropic and Google offer two of the leading foundational AI models globally. However, given Anthropic’s turnover is below the £70m threshold, which is one of the criteria it takes into account when assessing whether to look further into a deal, pursuing this thread of investigation was not necessary. The CMA is also looking at whether it should investigate Amazon’s partnership with Anthropic, due to the $4bn funding the AI startup received from Amazon. Some industry experts believe the CMA should continue looking at the foundation model market. Josh Mesout, chief innovation officer at Civo, said: “While the CMA has decided not to pursue an investigation into the Anthropic/Alphabet partnership, the broader concerns raised in the investigation about potential market concentration in AI remain valid. “Over-dependence on a handful of major firms could still stifle innovation, limit consumer choice and potentially lead to a monopoly that favours Big Tech. Even without a formal investigation, it is the responsibility of everyone in the industry to ensure the AI market ******** fair, competitive and conducive to ongoing technological advancement.” Source link #CMA #clears #Google #Anthropic #partnership Pelican News View the full article at [Hidden Content]

How Trump can use recess appointments to install controversial Cabinet picks — with or without the help of the Senate How Trump can use recess appointments to install controversial Cabinet picks — with or without the help of the Senate Washington — President-elect Donald Trump has selected for some of the top roles in his administration controversial picks who may not win universal support from *********** senators. He can only afford to lose a few Republicans in the confirmation process, but he’s opened the door to the possibility of forgoing the traditional route altogether, utilizing a Constitutional power known as recess appointments to effectively bypass the Senate — and swiftly approve his nominees. The possible strategy, raised by Trump in a post on social media last week, has generated mixed reviews among senators, who would stand to forfeit their key advice and consent role. And the president-elect made it something of a litmus test for Senate leadership as Republicans won majority control in the November elections. What is a recess appointment? Though the Senate is tasked with an advice and consent role in the confirmation process, the Constitution’s Recess Appointment Clause affords the president the ability to temporarily fill vacancies while the Senate is in recess, and appointees may stay in the role until the end of the following session. The recess appointments power “was built for a time when the Senate was not meeting year round,” says Casey Burgat, the director of the Legislative Affairs Program at George Washington University’s Graduate School of Political Management. “You were coming from all states, travel was a problem, and horses and carriages, and they would be out of session more often than they were in session,” Burgat says. ” And so to ensure that the government can continue its work, they gave the president appointment power to name, within recess, someone to take the place.” More recently, recess appointments have been used by presidents including President George W. Bush, Bill Clinton and Barack Obama — Bush and Clinton made over 100 recess appointments — although they were generally used to fill positions below the Cabinet level. In 2014, the Supreme Court weighed in on a challenge to a handful of Obama appointments, giving the Senate more authority to prevent the maneuver and determining that the chamber must be away for 10 days for recess appointments to occur. In recent years, the Senate has used pro-forma sessions to gavel in even when the chamber is on recess in part to avoid recess appointments. And paired with the elimination of a 60-vote threshold for nominees in 2013 — making it easier for the majority to make confirmations — recess appointments haven’t been made in about a decade. But that could change in Trump’s second term. Under the Constitution, both chambers have to agree to adjourn for three days or more. And at Trump’s urging, House and Senate Republicans, who are set to narrowly control both chambers in the new Congress, may agree to do so. Sen. John Thune, a South Dakota *********** who last week was elected to serve as Senate majority leader in the new Congress, said “all options are on the table” to swiftly approve Trump’s nominees after he takes office, including recess appointments. He’s suggested that while the typical confirmation process is preferred, if Senate Democrats obstruct the confirmation proceedings, Republicans may have to resort to other options. President-elect Donald Trump looks on during the UFC 309 event at Madison Square Garden on November 16, 2024 in New York City. Jeff Bottari/Zuffa LLC Still, pushback from just a handful of Republicans who oppose the recess appointment effort — which would undermine their ability to study nominees, request documents and have a hearing — could block the move to put the chamber in recess. But experts say Trump could move to adjourn Congress anyway. Could Trump adjourn Congress to make recess appointments? The Constitution outlines that a president may adjourn the House and Senate in the case of “Disagreement between them, with Respect to the Time of Adjournment.” So if one chamber approves a resolution to adjourn and the other votes it down, Trump could theoretically weigh in and declare Congress in recess. But some experts say that what constitutes a disagreement between the chambers could be interpreted differently, due to the unprecedented nature of the approach, questioning whether a simple lack of action from one chamber after the other approves a resolution to adjourn may be viewed as disagreement. “It’s not clear at all how this would work,” says Matt Glassman, a senior fellow at the Government Affairs Institute at Georgetown University, noting that the issue is something that almost certainly would result in litigation. Glassman said in a scenario where the House tries to force the Senate out of session to make recess appointments, “it’s not clear to me the court is going to like the idea of the president and the House conspiring to end run the Senate on nominations.” Trump is “threatening to turn the Constitution’s appointment process for Cabinet officers on its head” with the recess appointments strategy, Edward Whelan, a senior fellow at the ************* Ethics and Public Policy Center, warned in an op-ed in the Washington Post. He urged that House Speaker Mike Johnson, who would be a key player in Trump’s ability to unilaterally adjourn Congress, “can and should immediately put an end to this scheme.” But Johnson on Sunday left the door open to the strategy, saying on Fox News when asked whether he would take steps to put Congress in recess that a president should be able to “choose his team,” and “if this thing bogs down, it would be a great detriment to the country.” But he acknowledged that he’s “very hopeful” the Senate will do its job and move the nominees along. The move by the president to adjourn Congress to make recess appointments would create a new precedent, experts say, affecting the way presidents see presidential power going forward. “When they may see a power deferred to them, they’re very reluctant to give it back going forward,” Burgat says. “The minute you cross the red line, all of a sudden, that red line looks like it didn’t matter at all in the first place.” Kaia Hubbard Kaia Hubbard is a politics reporter for CBS News Digital, based in Washington, D.C. Source link #Trump #recess #appointments #install #controversial #Cabinet #picks #Senate Pelican News View the full article at [Hidden Content]

Nancy Mace pushes for Capitol bathroom ban as first transgender member is set to join Congress Nancy Mace pushes for Capitol bathroom ban as first transgender member is set to join Congress Rep. Nancy Mace, R-S.C., is pushing for a resolution that would ban transgender women from using female bathrooms in the Capitol. This comes just weeks before Democratic Rep.-elect Sarah McBride of Delaware is set to become the first out transgender member of Congress. Source link #Nancy #Mace #pushes #Capitol #bathroom #ban #transgender #member #set #join #Congress Pelican News View the full article at [Hidden Content]

Need for Speed Unbounds Vol.9 update lets you ride a motorbike Need for Speed Unbounds Vol.9 update lets you ride a motorbike Launching on 26th November, Unbound’s new Most Wanted-inspired update includes the first playable motorbike in the franchise. Source link #Speed #Unbounds #Vol.9 #update #lets #ride #motorbike Pelican News View the full article at [Hidden Content]

Redmi K80 Series Confirmed to Launch in Last Week of November; Display Details Revealed Redmi K80 Series Confirmed to Launch in Last Week of November; Display Details Revealed The launch of the Redmi K80 series in China was teased earlier this month and the smartphones are expected to arrive in the country soon. The lineup will include a base and a Pro variant. Details about the purported handsets have surfaced online over the past few weeks. Recently, one of the models was spotted on a benchmarking site suggesting chipset details. Now, the company has confirmed several key features of Redmi K80 and Redmi K80 Pro displays. The phones may launch globally as Poco F7 Pro and Poco F7 Ultra, respectively. Redmi K80 Series Launch, Display, Other Features The Redmi K80 series handsets will be equipped with 2K resolution displays with full brightness DC dimming, Xiaomi’s Qingshan Eye Care as well as circular polarisation technology, according to a Weibo post by the company. The smartphone maker confirmed that the displays have been developed by Redmi in partnership with Sun Yat-sen University Zhongshan Eye Center and TCL Huaxing. The post also confirms that the Redmi K80 and K80 Pro will launch in China “next week,” that is, in the last week of November. Another post by the company confirms that the screens of the Redmi K80 series smartphones will come with TÜV Rheinland’s triple certification and support up to 1,800 nits of peak global brightness level. For security, the handsets will be equipped with in-display ultrasonic fingerprint sensors. The Redmi K80 series screens will be upgraded over the displays of the Redmi K70 lineup. They are claimed to offer a brighter experience with 20.3 percent less power consumption than the front panels of the preceding handsets. These displays will support a dedicated gaming mode as well. Redmi’s Product Manager Xinxin Mia previously confirmed that the upcoming Redmi K80 and Redmi K80 Pro will ship with Android 15-based HyperOS 2.0. The design of the smartphone lineup is teased to be different from the existing Redmi K70 variants. Previously, a Geekbench listing of the Redmi K80 Pro suggested that the handset could be powered by Qualcomm’s latest octa-core Snapdragon 8 Elite chipset. It will likely be paired with up to 16GB of RAM. For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who’sThat360 on Instagram and YouTube. Asus ROG Phone 9 Pro, ROG Phone 9 With Snapdragon 8 Elite Chip Launched: Price, Specifications Goldman Sachs Plans to Spin Out Blockchain-Based Digital Assets Platform : Report Source link #Redmi #K80 #Series #Confirmed #Launch #Week #November #Display #Details #Revealed Pelican News View the full article at [Hidden Content]

Bose buys McIntosh, storied maker of high-end luxury audio equipment Bose buys McIntosh, storied maker of high-end luxury audio equipment The BOSE display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska. David A. Grogan | CNBC Bose Corp. will purchase the McIntosh Group, a deal that will give the Massachusetts-based company control of one of the most storied names in high-end audio. McIntosh will continue to manufacture the high-end audio equipment it is known for out of its longtime headquarters in Binghamton, New York, Bose CEO Lila Snyder said. The deal also includes Sonus Faber, a company that makes high-end speakers by hand in Italy. The purchase of the two audio workshops provides Bose access into the high-end luxury audio market, Snyder told CNBC in an interview. “There is this opportunity for luxury, where the consumer is more discerning, really interested in the heritage and the story, and that handcrafted nature,” she said. Snyder, who took over as Bose CEO in 2020, did not provide terms or a price for the deal. McIntosh was previously owned by Highlander Partners, a Dallas-based private equity firm. McIntosh has been making high-end amplifiers and other audio equipment since 1949, and one of its devices can cost tens of thousands of dollars. Sonus Faber sells a pair of speakers that costs $140,000. The purchase shows how Bose is navigating an environment where there is more competition in headphones and audio electronics than ever. Bose is privately held and doesn’t share annual revenue, although it had about $3 billion in sales in 2023, according to Forbes. It has about 3,000 employees. Bose enters the high-end luxury audio market Luxury audio — defined as products that cost more than $5,000 — grew 12% in 2023 to about $2.8 billion in total sales, according to an estimate from Futuresource Consulting. The deal will allow Bose to test a higher-end market for its products, which are already expensive – a pair of Bose headphones can easily cost $350. “These are different customers that right now we’re not really reaching with our technology and with our products,” she said. Snyder did not rule out the possibility of Bose producing McIntosh-branded headphones or other products. “We do think there’s a real opportunity around wearables in the luxury and high-performance space as well, which is something that we would expect you to see from us down the road,” Synder said. Bose is best-known for its speakers and its headphones, including the QuietComfort headphones line, which was one of the first noise-canceling headsets to hit the market in 2000. It also sells soundbars, wireless earbuds, speakers and audio equipment for cars. It divested a group that built sound systems for auditoriums and other professional environments last year. The audio market has grown since Bose was one of the few high-end brands. Bose now competes against some of the biggest companies in the world, including Apple, which bought Beats Electronics for $3 billion in 2014 and released the AirPods in 2016, targeting the premium headphone market. There is also new audio-focused competition for Bose. Sonos, which was best known for its in-home speakers, introduced its first noise-canceling headphones earlier this year, although the company is reeling from an app redesign in May that was received poorly by users. Bose also spent the past decade competing with smart speakers from the likes of Amazon and Google that were often priced aggressively low to spur adoption. The purchase of the two luxury audio workshops could help Bose grow in the in-car stereo market, which Snyder said makes up about a third of the company’s overall business. Sonus Faber produces speakers for Lamborghini cars, for example, and some Jeeps have a McIntosh-branded audio system. One possibility that Bose is excited about is that it can integrate its noise-canceling technology in electric cars to make the vehicle ride quieter, she said. “There are places today where the Bose brand probably can’t go. Lamborghini is a great example of that,” Snyder said. “You really want the very best kind of cutting-edge technology to be in those luxury or highest-performing vehicles.” WATCH: Why the hearing aid industry is poised to grow Source link #Bose #buys #McIntosh #storied #maker #highend #luxury #audio #equipment Pelican News View the full article at [Hidden Content]

NYT Connections: hints and answers for Tuesday, November 19 NYT Connections: hints and answers for Tuesday, November 19 Sam Hill / Digital Trends Connections is one of the best puzzle games from the New York Times. The game tasks you with categorizing a pool of 16 words into four secret (for now) groups by figuring out how the words relate to each other. The puzzle resets every night at midnight and each new puzzle has a varying degree of difficulty. Just like Wordle, you can keep track of your winning streak and compare your scores with friends. Some days are trickier than others — just like other NYT Games favorites The Mini and Strands. If you’re having a little trouble solving today’s puzzle, check out our Connections tips and tricks guide for some good strategies or check out the hints for today’s Connections puzzle below. And if you still can’t get it, we’ll tell you today’s answers at the very end. How to play Connections Connections is a daily game about finding common threads between words. Players must select four groups of four words without making more than three mistakes. Play now. pic.twitter.com/CqObVOqeUs — The New York Times (@nytimes) November 3, 2024 You can play Connections on the New York Times website or with the NYT Games app on iOS or Android. In Connections, you’ll be shown a grid containing 16 words — your objective is to organize these words into four sets of four by identifying the connections that link them. These sets could encompass concepts like titles of video game franchises, book series sequels, shades of red, names of chain restaurants, etc. There are generally words that seem like they could fit multiple themes, but there’s only one 100% correct answer. You’re able to shuffle the grid of words and rearrange them to help better see the potential connections. Each group is ******-coded. The yellow group is the easiest to figure out, followed by the green, blue, and purple groups. Pick four words and hit Submit. If you’re correct, the four words will be removed from the grid and the theme connecting them will be revealed. Guess incorrectly and it’ll count as a mistake. You only have four mistakes available until the game ends. Hints for today’s Connections We can help you solve today’s Connection by telling you the four themes. If you need more assistance, we’ll also give you one word from each group below. Today’s themes AREA OF EXPERTISE WAYS TO UNLOCK A DEVICE PASTA SHAPES DOUBLE __ One-answer reveals AREA OF EXPERTISE – CONCENTRATION WAYS TO UNLOCK A DEVICE – FACE PASTA SHAPES – EAR DOUBLE __ – AGENT New York Times Today’s Connections answers Still no luck? That’s OK. This puzzle is designed to be difficult. If you just want to see today’s Connections answer, we’ve got you covered below: AREA OF EXPERTISE – CONCENTRATION, FIELD, FOCUS, SPECIALITY WAYS TO UNLOCK A DEVICE – FACE, FINGERPRINT, PASSWORD, PIN PASTA SHAPES – EAR, ELBOW, RIBBON, WHEEL DOUBLE __ – AGENT, DRIBBLE, JEOPARDY, STANDARD Connections grids vary widely and change every day. If you couldn’t solve today’s puzzle, be sure to check back in tomorrow. NYT Connection FAQs What time does the Connections puzzle change? The puzzle changes daily at midnight local time. Who edits the NYT Connections game? Wyna Liu, who has been editing puzzles at The New York Times since 2020, edits Connections daily. “A few months ago, a new assignment crossed my desk: Create the game boards for Connections, a category matching game that had recently been greenlighted and was in search of an editor,” wrote Liu in an article explaining her process in June 2024. Most of my puzzle experience has been working with crosswords, and I was excited at the chance to try something different. I’ve enjoyed learning how puzzle editing plays out once a game is greenlighted, and seeing how our team fits into a larger ecosystem.” On the one-year anniversary of Connections launching earlier this year, Liu posted this TikTok about her favorite puzzles so far: Source link #NYT #Connections #hints #answers #Tuesday #November Pelican News View the full article at [Hidden Content]

Severe ***** Cyclone Threatens West Coast with Intense Rain and Winds Severe ***** Cyclone Threatens West Coast with Intense Rain and Winds A powerful storm system, expected to intensify into a “***** cyclone,” is heading towards Northern California and southern Oregon, potentially bringing severe weather conditions from Tuesday, 19 November, to Thursday, 21 November. Meteorologists have warned of extreme rain, high winds, and significant snowfall in higher altitudes, raising concerns about flash flooding and other hazards across the region. According to WeatherNation, the storm is forecast to undergo rapid pressure drops, a phenomenon termed “bombogenesis.” The pressure is expected to plummet from over 1,000 millibars on Monday evening to below 950 millibars by Tuesday night. This sharp decline signifies a rapidly intensifying storm, confirmed by data from the National Oceanic and Atmospheric Administration (NOAA). Key Areas to Experience Severe Impacts The University of California, San Diego, has classified the impacts between the San Francisco Bay Area and Eureka, California, as “extreme.” Central Oregon to Salinas, California, is also likely to experience significant effects, including wind gusts reaching up to 70 mph and rainfall ranging between 2 to 4 inches daily. Elevated regions exceeding 3,500 feet could witness snowfall accumulation of up to 2 feet, adding to the storm’s challenges. Atmospheric River and Its Dual Role The incoming storm is being driven by an atmospheric river, a weather pattern pulling tropical moisture northwards. While such systems are essential in providing 30% to 50% of the West Coast’s annual precipitation, they are also associated with risks like mudslides and flooding. NOAA researchers have highlighted the long-term impacts of climate change on these weather events. A study published in 2021 warned of shifting patterns leading to heavy low-elevation rainfall and diminished high-altitude snowfall, which could disrupt the water supply by reducing snowpack that serves as a steady year-round source. The storm is expected to deliver both challenges and opportunities, as residents brace for its impacts while water reservoirs may receive much-needed replenishment. Emergency services and weather authorities remain vigilant as the system approaches. Source link #Severe #***** #Cyclone #Threatens #West #Coast #Intense #Rain #Winds Pelican News View the full article at [Hidden Content]

Bitcoin edges higher as tensions mount between Ukraine and Russia Bitcoin edges higher as tensions mount between Ukraine and Russia Thomas Trutschel | Photothek | Getty Images Bitcoin moved higher on Tuesday even as other risk assets sold off amid rising geopolitical tensions between Ukraine and Russia. The price of the flagship cryptocurrency was last higher by less than 1% at $92,003.28, according to Coin Metrics, just below the all-time high of $93,469.08 reached last week. Shares of MicroStrategy, which trade as a bitcoin proxy, rose 3%. Meanwhile, ether fell more than 1%, as did shares of Coinbase, and Robinhood was under pressure. Both stocks benefit from the trading of other, non-bitcoin assets across the crypto market. Stock Chart IconStock chart icon Bitcoin rose slightly amid rising Ukraine-Russia tensions Investors reacted overnight to reports that Russian President Vladimir ****** warned the U.S. that the threshold for the use of nuclear weapons had come down in response to President Joe Biden allowing Ukraine to use U.S. missiles to strike military targets inside Russia. Bitcoin has recently benefited from enthusiasm for cryptocurrencies after the U.S. presidential election. That drove bitcoin to fresh records and sent smaller crypto assets soaring. Like gold, crypto assets are seen by many investors as a “non-confiscatable,” long-term hedge against geopolitical uncertainty. “The most significant long-term correlations for bitcoin are a negative correlation with the U.S. dollar and a positive correlation with money supply growth,” Matt Sigel, head of digital assets research at VanEck, recently explained on CNBC’s “Squawk Box.” “Bitcoin is a chameleon,” Sigel added. “Its correlations change over time; it’s hard to predict what it’s going to be correlated with over the short term.” Bitcoin has behaved as a safe haven before. It outperformed during the crisis in the regional banking system in early 2023, for example. But because bitcoin is also a risky asset without a long history, with extreme volatility that can benefit short-term traders, others have a hard time arguing that bitcoin is ncecessarily attractive forever. Citigroup, for example, this week reiterated the bank’s view that bitcoin doesn’t exhibit store-of-value properties. Don’t miss these cryptocurrency insights from CNBC PRO: Source link #Bitcoin #edges #higher #tensions #mount #Ukraine #Russia Pelican News View the full article at [Hidden Content]