US is losing ‘tech cold war with China’ says Ripple co-founder

Speaking at the LA Blockchain Summit conference on October 6, Ripple co-founder, Chris Larsen, slammed the United States for falling behind in the race to design “the next generation of the global financial system.”

The address expanded on some of Larsen’s frustrations with U.S. regulations that has led to the company considering moving to a different jurisdiction.

Larsen argues the U.S. has fallen “woefully behind” in the ongoing “tech cold war with China,” asserting that China’s central government has outpaced American lawmakers in providing legislative clarity, allocating resources, building infrastructure, and fostering innovation in blockchain and other emerging technologies, including big data, surveillance, and A.I.

“China has recognized that those technologies are the keys to who is going to control the next gen financial system […] SWIFT and correspondent banking is not going to be the system we are going to be living with over the next two decades.” 


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Coinbase and Silicon Valley’s Losing War Against Politics

Illustration for article titled Silicon Valley Is Fighting a Losing War Against Politics

Photo: Matt Winkelmeyer/Getty Images for Vanity Fair (Getty Images)

You’d be excused for not following the recent brouhaha associated with Coinbase CEO Brian Armstrong’s announcement that the company would no longer play politics. The statement, posted to Medium on Sunday, is a doozy.

“In short, I want Coinbase to be laser focused on achieving its mission, because I believe that this is the way that we can have the biggest impact on the world. We will do this by playing as a championship team, focus on building, and being transparent about what our mission is and isn’t,” Armstrong wrote.

He rattled off a number of examples of this, culminating in something that gave many pause: “We don’t engage here when issues are unrelated to our core mission, because we believe impact only comes with focus.”

Armstrong’s post is a direct reaction to the Black Lives

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Can the Red Raiders end their long losing streak in Manhattan?

Texas Tech at Kansas State

When: 2:30 p.m. Saturday at Bill Snyder Family Football Stadium in Manhattan, Ks.

Records: Texas Tech (1-1, 0-1 Big 12); Kansas State (1-1, 1-0 Big 12)

Last meeting: Kansas State defeated Texas Tech 30-27 in Lubbock


What’s on the line?

In the last decade, the Red Raiders only managed to beat the Wildcats once in nine meetings. Heading into the 2010s Texas Tech was riding a five-game winning streak against Kansas State. These two teams would be coming off of similarly season-defining wins had Texas Tech not blown a 15 point lead in the waning moments of last week’s contest against Texas.

For Kansas State, its season has already been deeply confusing. The Wildcats opened with a loss to Arkansas State at home, then upset No. 3 Oklahoma in Norman. Texas Tech badly needs to rebound after nearly pulling off a program-defining upset

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How Much Did Trump Win by Losing?

Check out highlights from Elon Musk’s appearance on Sway, the Times Opinion podcast hosted by Kara Swisher. And read on for a scoop on Jessica Alba’s Honest Company exploring a sale. (Want this in your inbox each morning? Sign up here.)

President Trump’s finances have remained under wraps for years. But a major investigation by The Times’s Russ Buettner, Sue Craig and Mike McIntire has cracked open his business, revealing from tax records that he paid just $750 in federal income taxes in 2016 and 2017 and nothing for most of the past 15 years.

Here’s what the report shows about the state of the Trump Organization — and the enormous financial and legal pressures Mr. Trump faces.

Huge losses across the Trump empire: Mr. Trump’s golf resorts, including Doral in Florida and three in Europe, have lost $315.6 million since 2000. The

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Twitter resurfaces Costco co-founder’s alleged threat over food deal: ‘Absolutely losing my mind’

A resurfaced interaction between Costco’s co-founder and CEO has sent Twitter into hysterics and turned the co-founder into an icon.

According to a Mental Floss article from 2018, current Costco president and CEO W. Craig Jelinek was in a meeting and complaining to Costco co-founder Jim Sinegal about how the company was losing money from sticking with Costco’s legendary quarter-pound hot dog and 20-ounce soda special.

As any real Costco enthusiast knows, the store’s deals aren’t limited to just the shopping aisles — the meal costs only $1.50. Costco hasn’t changed the price of the combo since 1984, when it was first introduced.

“I came to [Sinegal] once and I said, ‘Jim, we can’t sell this hot dog for a buck fifty. We are losing our rear ends,’” Jelinek said during a speech at the Issaquah Chamber of Commerce’s luncheon in 2018. “He said, ‘If you raise the effing hot

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S&P 500 snaps 4-day losing streak as investors rush back to tech giants

  • US equities climbed Tuesday as a tech-led rebound ended the S&P 500’s four-day losing streak.
  • Mega-cap companies including Apple, Facebook, and Amazon pushed indexes higher as investors turned back to the recently sold-off growth favorites.
  • Still, new measures to curb the coronavirus’s spread in the UK revived fears of fresh lockdowns and another wave of infections.
  • House testimony from Jerome Powell highlighted progress made in the US economic recovery but reiterated that “great uncertainty” still surrounds the bounce-back. 
  • Oil gained, with West Texas Intermediate crude rising as much as 1.8%, to $40.02 per barrel.
  • Watch major indexes update live here.

US stocks climbed on Tuesday as rebounding tech giants offset renewed coronavirus fears and concerns of a slowing economic recovery.

Mega-caps including Apple, Microsoft, and Amazon led the way higher. The firms have seen renewed buying in recent sessions as more investors seek to get in

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Uber’s Hired A New Top Tech Leader From Amazon But Is Losing Its CIO

Uber Technologies has hired Sukumar Rathnam as its new chief technology officer (CTO). Previously a vice president at Amazon, where he headed product selection and catalog systems, Rathnam will start his new role on September 28.

Separately, Forbes understands that Uber’s CIO, Shobhana Ahluwalia, who had reported to Rathnam’s predecessor, Thuan Pham, has decided to leave. A source close to Uber said her departure is “very amicable” and that she had accomplished an incredible amount during her five-year-plus tenure. It’s unclear whether Ahluwalia was hoping to get the top technology role.

Rathnam’s arrival was announced internally on September 17 and first reported by The Information. He will take over several months after the departure of Pham, a veteran leader who resigned from the company in May just before it laid

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