Market Daily

Market Daily

A Tesla crash test raised concerns, AXA releases statement to put out the fire

The image of a burning Tesla sedan caused some concern last week, but the crash and fire were just a demonstration by AXA.

The demonstration

Insurance company AXA said it organized the protest to show how electric cars can quickly burst into flames after an accident.

Although there were some concerns about the fire, AXA assured people that it was not Tesla’s battery that caught fire.

Ahead of the protest, the Paris-based company said it had removed the battery from the vehicle ahead of the protest.

The video

The Swiss Automobile Trade Association released a video of the crash test showing a Tesla racing towards an obstacle, overturning and landing on its roof. In the video, an engine roar can be heard shortly after, before the front half of the car bursts into flames.

Meanwhile, those present applauded the demonstration.


AXA Switzerland issued a statement on Thursday, saying they were regretting the crash test because it gave a “false impression” and caused confusion.

“AXA Switzerland’s statistics show that drivers of electric vehicles cause 50 percent more collisions with damage to their own vehicles than drivers of conventional vehicles with combustion engines,” writes AXA.

“What the statistics also show is that drivers of more powerful electric vehicles cause damage to either their own or someone else’s vehicle more frequently.”

“With this year’s crash tests, we wanted to draw attention to this information from our statistics while raising awareness of the potential risks of accidents involving battery-powered cars.”

The firm also said it took steps to protect spectators at the demonstration.

The company confirmed that the car’s battery was removed and that the fire was extinguished “under controlled conditions”.

Our aim with this year’s Crash Tests was to draw attention to these insights from our statistics and – at the same time – raise awareness of the risks that can potentially arise with accidents involving battery-powered cars.” AXA said.

Additionally, the company admitted to using pyrotechnics to start the fire.

Explanation of the demonstration

AXA is known for performing crash tests to address road safety issues.

The company said its data shows electric vehicles are less likely to catch fire than cars with internal combustion engines.

The statement from AXA Switzerland also shared its support for Tesla, writing:

“We firmly believe that e-vehicles will play a key role in the automotive future. This is why we see it as important to take an in-depth look at electromobility and its safety.”

Experts reiterated AXA’s sentiments, saying electric cars are less likely to catch fire than their gasoline-powered counterparts.

However, they also added that the fire may be more difficult to put out.

Despite the demonstration, there is still a risk of electric vehicle batteries catching fire, and several automakers have issued recalls in recent years over fears the batteries could catch fire.


A Tesla burst into flames during a crash test. The organizer admitted it was staged

Insurance firm stages Tesla crash test, fakes ‘battery’ fire

Carmelo Rodriguez: The Combat Veteran Serving to Inspire Others to Thrive 

People are often met with several tragedies in their lives before reaching the peak of greatness. However, some do not understand that hardships are a part of one’s journey to success. Because of this, they often give up at first sight of defeat, endlessly believing that a good life is only reserved for those who have had better beginnings. Proving this notion wrong, Carmelo Rodriguez shares his story of how he has managed to carve a success-enabling of his own amid adversities.

Carmelo Rodriguez is a highly acclaimed author, motivational speaker, and confidence coach who has been making waves across various industries. His diligent efforts to inspire others through his initiatives have earned praises from countless industry powerhouses and peers, cementing a reputable stance across the trade. By looking back to his roots and sharing his story with the world, Carmelo brings something new to the table, serving as a source of inspiration for those who have lost confidence and remain afraid.

Without a doubt, Carmelo is unlike any other motivational personality. He was a combat veteran who was mistakenly declared dead. Although this mistake often plagued thousands of veterans in the country, what came after was much worse.

“They failed to acknowledge the fact that I am still alive,” he said.

Because Carmelo was declared dead, his death certificate was confirmed, making him lose all the benefits he was supposed to receive as a veteran. In addition, his bank accounts were frozen, leading him to live a life in which he self-medicated and struggled to put food on the table. “Literally, I found myself in a nightmare that was personally worse than anything I had experienced in combat,” shared Carmelo.

Although this unfortunate event could have trampled an ordinary person, Carmelo Rodriguez continued to strive and even wrote a book about his life experiences. At the same time, he went on to finish a bachelor’s degree in criminal justice and a master’s degree in business administration. Currently, he is a Ph.D. candidate with several post-graduate certifications in risk management, conflict management, negotiations, and more.

“I didn’t come this far only to come this far,” said Carmelo.

Taking the reins of his newfound glory in life, Carmelo wasted no time turning his life around. As a matter of fact, he has written 15 books that talk about true stories designed to inspire readers in their quest for success. Through these initiatives, this power player seeks to stand as a source of motivation for those who remain lost in this dog-eat-dog world.

When asked how he overcame the challenges that met him along the way, Carmelo shared that his passion-driven spirit and persevering attitude kept him in place. “My secret is simple: I put in the work,” said the author. For this reason, he has successfully risen through the ranks despite the odds stacked against him.

As Carmelo Rodriguez continues to write books and inspire others, he hopes to become the light that hopefuls need when seeking guidance in their lives. In the coming years, he hopes to see more aspirants overcome obstacles and become the best versions of themselves.

His upcoming book, Smile Based on True Events, is set to release this October 31, 2022.

Survey shows a decline in Chinese students choosing the United States as a destination for education

The United States has been the destination for many who wish to further their education, but in recent years, Chinese students have slowly decided to find other options.

The decline in US popularity could lead to a domino effect that burns cultural, diplomatic, and financial bridges for the country.


The discovery came from a recent survey conducted by a Beijing-based private education provider, the New Oriental Education and Technology Group.

The survey had 8,610 respondents on foreign studies of Chinese students.

The researchers found that interest in the study in the United States has steadily declined in the Middle Kingdom since 2015, while interest in the United Kingdom, Hong Kong, and Singapore has increased.

The waning interest comes after more than a decade in which China has become the leading source of international students in the United States.

The number has grown over the years.

Foreign students

Most foreign students pay three times more than state students in public universities because they are not eligible for financial aid.

According to economists, Chinese undergraduate students play an important role in helping universities finance other costs.

“There are many at the master’s level that are reliant on China for the revenue,” said Nikolai Roussanov, an economics professor at the University of Pennsylvania.

The Open Doors of the Institute of International Education also released a report showing that Chinese students represent 35% of all international students studying in the country in the 2019-2020 academic year.

Chinese students contributed $ 15.9 billion in economic value.

The decline

The declining number of Chinese students studying in the United States can be attributed to a number of circumstances that may involve political intervention or their choice.

One possibility that has been discussed is former President Donald Trump’s anti-Chinese immigration policy, while China’s strict COVID-lockdown policy could raise a new red flag.

Chinese students also reported feeling wary about the high level of gun violence in the United States, high death rates from COVID-19, and growing anti-Asian racism, as reported by The Wall Street Journal’s Sha Hua and Melissa Korn.

An economist also spoke to Business Insider and said Chinese students are losing interest in US education, putting other aspects of the US economy at risk; relevant industries include technology and finance.

“Any news about declining international demand for US education is very sensitive and should be taken very seriously, more seriously than loss of US comparative advantage in any other area arguably,” said Oleg Itskhoki, an economics professor at the University of California.

The numbers

The Wall Street Journal broke down the study, noting that 51% of Chinese students surveyed said they wanted to study in the United States in 2015.

By 2022, that number dropped to 30%. Meanwhile, students have indicated they want to study in the UK and the number has increased by 9%, more than doubling for Hong Kong and Singapore.

“One may argue that US leadership in the world is best reflected in two export services – that of finance and that of education,” said Itskhoki.

Roussanov assured that there will be no significant negative effects on the economy based on the current number of registrations.

However, he also said the trajectory of the poll numbers is worrying.

Roussanov pointed to the sectors in which Chinese expats enter and contribute after graduation.


Chinese students have helped bankroll the US economy. Now fewer want to study here and it risks America’s position as a global leader

Starbucks’ diversity policy leads executives to a legal case

Diversity has become something that many companies, including Starbucks, are keen to emphasize by putting new policies in place to achieve their goal.

However, the policies put in place by the coffee giants have become a problem, and the leaders are being sued for it.

The issue

Starbucks Corp executives and directors are the targets of a lawsuit filed by a conservative think tank.

The complaint stems from the belief that the coffee chain’s efforts have only resulted in racial discrimination.

The complaint

The National Center for Research on Public Policy filed a lawsuit on Tuesday opposing Starbucks’ hiring targets for people of color, outsourcing to “different” vendors and advertisers, and executive compensation tied to diversity.

According to the complaint, “benefits them personally to pose as virtuous advocates of ‘Inclusion, Diversity, and Equity,’ even as it harms the company and its owners.”

A Starbucks shareholder said the guidelines require the company to make decisions based on race, benefit minorities and violate federal and state civil rights laws.

Among the defendants are 35 current and former executives and directors, including interim CEO Howard Schults.

Starbucks and diversity

As of July 3, Starbucks had more than 34,948 stores worldwide, including 17,050 in the United States.

The coffee giant is one of many companies that have focused on diversity and education, especially after the 2020 murder of George Floyd.

Six months after his death, Starbucks announced plans to include more black, Indigenous and other people of color in order to gain opportunities for at least 30% of jobs in American companies.

The company also aims to have people of color make up 40% of U.S. retail and manufacturing jobs by 2025 and to tie executive salaries to its diversity efforts.

In January 2021, Starbucks announced plans to nearly double its annual multi-vendor spend to $1.5 billion by 2030.

The company also pledged to allocate 15% of its 2022 advertising budget to minority-owned and “targeted” media companies.


Starbucks bosses sued by think tank over diversity push in the US

Starbucks executives, directors are sued over diversity policies

Elon Musk clears the air around his tweet saying he would buy English club Manchester United

In the world of European football, more American clubs have shown interest in clubs, which Elon Musk should have initially done.

It was recently reported that Tesla’s founder was planning to buy England’s Manchester United club.

The tweet

On Wednesday, Elon Musk posted a series of tweets sharing plans to get Manchester United out of the hands of the Glazer family.

“Also, I’m buying Manchester United ur [sic] welcome,” he tweeted.

The reaction

Musk’s tweet garnered hundreds of thousands of likes and provoked various reactions. Fans of the English club were desperate to buy and others were less than enthusiastic.

Ryan Babel, former club rival and Dutch winger, replied:“Now i need to buy Man United stock got dammit lol.”

User CCFCDUBois joined the hype, saying,  “McTominay being subbed off for one of Elon Musk’s robots before HT will be comical.”

User Xirociroc also joked, tweeting a photo of striker Cristiano Ronaldo with the caption:

“Elon Musk programming Ronaldo to go back to his prime years #MUFC.”

Read also: Illinois Regulators Open Opportunity for Cannabis Dispensary with Licenses, Sales Reach New Heights in Fiscal Year


Manchester United are currently worth around $ 4.6 billion, and with Musk’s net worth of $ 270 billion, it would have been a dream come true after years of watching the Glazers raze the once prestigious club.

Musk later made it clear that he was joking.

“No, this is a long-running joke on Twitter,” he explained. “I’m not buying any sports team.”

Musk also said cabaret was his side business. However, he revealed that he is a longtime Red Devils fan.

“Although, if it were any team, it would be Man U. They were my fav [sic] team as a kid.”

Manchester United

The English club did not comment.

Rather, it seems the club is as focused on improving as last year, United have missed the opportunity to play in the Champions League.

The club tried to make amends and showed promise in pre-season matches. However, things have gotten worse since the beginning of the season.

Despite new manager Erik Ten Hag applying new strategies, Manchester United are at the bottom of the table with two defeats.

To add salt to the wound, rumors continue to circulate about the departure of the champion Cristiano Ronaldo, while the new signings have not materialized.

As a result, fans have become even more restless as they watch their beloved club kick off the season in a humiliating way.

Read also: Economist Paul Krugman Insists US Is Not in Recession, Calls Media Out for Negative Bias

Reason for club’s decline

Manchester United have been on a downward spiral since iconic manager Sir Alex Ferguson retired in 2013. Others blame the Glazer family, whose club ownership began in 2005.

Since then, there have been protests against the Glazers’ ownership.


Many are desperate for new owners to take over and repair the damage done by the Glazers.

Elon Musk’s tweet sparked some hope for many.

Although initially a joke, his status as a United fan may still one day become a reality.


Elon Musk sends social media into frenzy with Twitter joke about buying Man Utd

Elon Musk claims he’s ‘buying Manchester United’

The Arkansas Firm Specializing in Financial Planning: GenWealth Knows No Matter the Client’s Age, Now is the Time to Start

Worried you’re too old to start investing? Thinking you’re too young? No matter what your age, the financial experts at GenWealth Financial Advisors, an Arkansas firm with locations in Louisiana and Tennessee, want you to think again.

“It’s never too early to start investing, and it’s never a bad time to create wealth,” said John Shrewsbury, co-owner, financial advisor, and Retirement Income Certified Professional (RICPⓇ). “The process is also a lot easier than most people think.”

Unlike other financial advisors, the team at GenWealth prioritizes education, listening, and teamwork — three factors that consistently deliver excellent service to their clients.

Educating for financial success

“We view financial service as a public service,” said Janet Walker, co-owner of GenWealth Financial Advisors and RICP®. “Many people think financial advisors are in it to make money for themselves, but our purpose is to inform and teach. This approach creates a virtuous circle — we supply the knowledge, experience, and expertise to help people work toward their goals, and they pay it forward to help others. Everyone benefits.”

Without trusted advice and expert guidance, many people who are new to investing may make costly mistakes.

“The biggest mistake investors tend to make is allowing emotion to rule their decisions,” said Teresa Arrigo, financial advisor and RICP®. “When there’s a downturn in the market, they often get anxious and cash out, and only later realize the losses they incur from doing so. In these situations, investors will find that they actually have lost money, rather than made it. But if they had had a financial plan in place, they would have ridden the storm out and likely avoided long-term losses on their investments for retirement.”

According to Arrigo, having a financial plan can help mitigate stress and fear. As a result, investors who have one are less likely to sell at the wrong time.

“Our clients don’t usually call us in a panic,” she said. “They know their long-term plan has been prepared to weather these downturns. Our clients know they just need to keep calm and stay the course, because they trust the process.”

Financial strategy customized for your dreams

Active listening is another key aspect of GenWealth’s approach.

“Everyone has different hopes and dreams,” said Shrewsbury. “To figure out how to serve each individual best, we spend a lot of time asking them what they’d like their future to look like. Only when you truly understand what someone wants can you create a plan and strategy to help them toward that future.”

At GenWealth, financial plans are customized to meet the individual needs of every client. Each usually contains three “buckets” to maximize returns while limiting risk.

For clients’ first bucket, some of their funds are invested in conservative, low-risk assets. This pot of money often has a short time horizon, such as five years.

Clients’ second bucket takes on a moderate degree of risk. These funds have a longer time horizon, such as ten years.

The third bucket has the longest time horizon — 15 years, for example. This long-term outlook protects against losses even for higher-risk investments. Why? The longest bear markets in history have lasted less than two years and, on average, the market rebounds to pre-recession levels in 19 months. While this bucket may see a temporary dip, it can be counted on to recover over time.

Capital gains from the high-yield, higher-risk investments in the 15-year bucket are routinely transferred to the more conservative buckets. This offers clients an added layer of protection on their investments, guarding them until they are ready for retirement.

A Whole team at your back

While most financial advisors work as solitary individuals, GenWealth’s clients always meet with teams of at least two financial advisors.

“This means there’s always backup,” said Shrewsbury. “Plus, we find that collaboration helps teams work smarter. Our clients get the benefit of advice from people with different perspectives to cover every angle, because planning for retirement can be complex. The total is greater than the sum of the parts.”

While some investors may believe they don’t need expert advice, this can be another mistake. For instance, they can look up quality information online only to apply it to the wrong thing or under incorrect conditions. As a result, their investments may flounder, and they can fail to achieve their monetary goals.

“Even professional athletes need a coach,” said financial advisor Scott Inman, who served as a Razorback Sports Network football pre-game show host for 13 years. “Tiger Woods has a coach. Professional football players have a coach. Our role is similar. At GenWealth, we provide the experience, knowledge, and skills to set people up for success. We look out for you, give you the necessary feedback, and have your back.”

Getting started

While the idea of saving for retirement can evoke feelings of stress and anxiety, GenWealth’s financial advisors know how to address their clients’ fears and chart the right path to financial freedom. For people who don’t know how ready they are for retirement, the company offers a free 15-minute consultation meeting that can take place in-person, online, or over the phone.

As an added benefit, GenWealth is extremely flexible with the services they offer. Some clients pay a flat rate to get a custom-designed financial plan that they can implement themselves, whereas others may opt to pay either a small fee or a commission for extra assistance in implementing their plan. Whatever the case may be, GenWealth Financial Advisors find their fiduciary responsibility extremely important, meaning they are happy to accept compensation in whatever way best fits the individual.

“Our goal at GenWealth Financial Advisors is to help position individuals for retirement and wealth creation,” said Shrewsbury. “Long-term financial planning builds a solid foundation for the rest of your life.”
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Securities and advisory services offered through LPL Financial, A Registered Investment Advisor, Member FINRA/SIPC. Financial Planning offered through GenWealth Financial Advisors LLC, a Registered Investment Advisor, and a separate entity from LPL Financial. For residents of Louisiana, all advisory services offered through LPL Financial.

What You Need to Know About The Greendale Cinema

In the tiny town of Greendale, you’ll find one of the unique movie theaters in the world Greendale Cinema. You’d think it was just another luxury theater with curved screens, reclining seats, and a popcorn bar. But as soon as your movie plays on that big screen right before you. You’ll realize this is no ordinary cinema.


“The theater has a ceiling so high that when you’re sitting, you can’t even see it,” said Cathey Peters, a student at the University of Wisconsin-Madison who has visited the theater since she was five years old. “You feel like you’re getting into your movie.”


The Greendale Cinema is just that: a real cinema. Unlike most theaters, this one is not owned by a private company. The University of Wisconsin-Madison owns it, and it is open to the public.


The theater isn’t just a place to see movies. It’s also a place where you can learn as much about film as you can before you go.


It was built in 1977 but was not opened to the public until 1978. It’s was added through additions in 1989 and 2004. It is the world’s largest single-screen cinema, with over 1,000 seats.


Known as the World’s Largest Screen, it is the giant curved screen in the world. Featuring 32 thousand square feet of screen. It’s not just big – it’s HUGE!


But although this may be one of the largest venues ever built, it has a humble origin. “This was all a massive experiment in economics,” said Jim Nelson, an archivist at the University of Wisconsin-Madison Libraries who spent 31 years working on The Greendale Cinema.


“No one had ever built a theater like this before, and they wanted to see it. If they could make something like this work,” explained Nelson. But creating the world’s giant screen was just the beginning.


“Once they design and build the screen, they had to build 32 thousand square feet of the curved surface in an air-conditioned room,” Nelson said. “It was a pretty tricky thing.


Building the Screen


The problem with building such a large curved surface was that they had to build it while keeping the temperature constant at 60 degrees. To make things easier, Nelson described the “Cinema Film Curves” used by the builders:


“They’d draw these curves on paper, and then you’d build three inches of foam over that. Then you’d snap these metal strips outside the foam,” said Nelson. “I’ve taken those strips off quite a few times because they were worn out.


“The metal strips look like skinny picket fences, and they’d go all the way around, and then you’d spray them orange,” he explained. “And then once the orange peel sprayed, you’d put another two layers of sheet metal on top of that.”


But getting a curved surface to stay curved posed another problem. “They found out pretty quickly that if they just built [the screen] up like an airplane hangar or a square box and left it open at the corners, it would sag.


What’s Behind the Curtain?


While the screen may seem like black fabric, it isn’t. It’s a fine mesh screen that lets light through. Even though you can see through it, the screen is solid.


“There are 16 thousand pounds of lifting wires running all the way around in a framework built into the ceiling,” explained Nelson. He notes that to ensure everything stays right where it is supposed to, they have to paint those wires and their support structure once every five years.


“But they don’t paint the screen,” Nelson said. “They have to wash that. And it takes two weeks to do an excellent job washing – so no one ever wants to do that.”


According to Nelson, the mesh is supposed to let 25% of the light through, but he believes it lets in less than 15%. That’s actually how a movie screen is supposed to work, but it doesn’t always work like that.


“What makes movies look good in contrast,” explained Nelson. “If you go to a theater that’s not air-conditioner and they’ve got the screen too bright, it’ll wash out the whole picture.”


So to make sure that the screen is washed correctly, they spray it down with a hose – once every two years. They do it by starting at one end of the screen, spraying until they reach the middle, then backtracking and moving over to the other end – an operation that takes about four hours.


Creating the Seats


Once The Cinema Film Frames were built, it was time to figure out how people would sit in the theater. “It was a big problem,” Nelson said. “You couldn’t build the seats into curves and make them work.”


“So what you do is you build them as seats set on a slope, and then you put a post about eight feet off the floor in front of it,” Nelson explained. “After that, you lower two rows of seats. Then, you position the post extremely high, and two people hold both rows.


After that, he continued, “all you have to do is have two guys on either side of that pole, which is eight feet off the ground, pull those seats down until they’re sitting at a slope. They are thus unable to see in front unless they stand up. And then there’s this curving ledge. It’s like a little bench.


Click your way through the theater.


To get the best experience in a theater, viewers should sit as close to the screen as possible. But that’s not always easy. “If you have a big screen, people are gonna sit further back,” Nelson explained. “We tried to build in this idea of ‘Let’s make people sit closer.’”


“It turns out that nobody likes to sit either close to or far from the screen, and they found out very quickly that it was a bad fit,” explained Nelson. “It just didn’t work.


“The solution they came up with is that all the seats go to the back of the theater. Then there are a bunch of them on each side, but only a few seats go all the way to the front,” he continues. “It gives this fun effect where you fit in with that curve.


The Dome


Unlike other theaters, the center of The Greendale Cinema built from a dome. “If you look at the center of the building, there’s a huge arch that goes up and connects to the two side walls,” said Nelson. “And then there are some curved surfaces under it.”


“But here’s how you can tell it’s a dome,” he explained. “There are those two side walls, which we’ll call the ‘straight walls.’ In between them, there are three different arches. The first one is a little higher, the second one is a little lower, and the third one is just as tall as the first two.


Bringing the Curves to Life


While the dome looks curve, it isn’t curve. It’s a perfectly straight surface with small curve features around the edges. “It just looks like two big bricks were glue together,” Nelson say. “But there are no big holes in it at all.”


According to Nelson, there was only one real problem getting the dome to stay in place – gravity.




The Big Reveal

On May 6, 2005, Greendale Cinema officially opened. This theater has ten screens and only shows new releases. The auditorium’s seating capacity range from 290 seats to 69 seats. According to the Greendale Cinema website, the theater is located in Greendale, Indiana.


“It has all these amazing curves, standing on this very firm foundation,” Nelson said. “It’s overbuilt, in a way.”

How This Company Brings Sustainable Technology to a Transforming Market

Carbon emissions, toxic runoff, and non-biodegradable plastics are all examples of negative effects from technology. Now, disruptive tech is the best hope for reversing that same trend. Innventure recently introduced two exciting green tech solutions to the market to do just that.

Innventure is a groundbreaking business that founds, funds, operates and rapidly scales companies in strategic collaboration with Multinational Corporations (MNCs). 

“By leveraging the marketing data of our multinational partners, we identify public needs and hunt down tech solutions to meet those needs,” says Bill Haskell, CEO and founding member of Innventure. “We’ve figured out how to find this tech on the shelves of research and development departments and turn them into billion-dollar companies in under five years.”

The platform that turns orphaned tech into sustainable solutions

When Innventure invests in bringing tech to the market, it’s likely to be a winning bet; their one-of-a-kind business model mitigates risk before the game begins. Innventure starts the process by joining forces with an MNC in possession of valuable but potentially abandoned technologies.

“We source both our marketing intel and our technologies from multinationals,” Haskell remarks. “The top 100 spenders among these corporations put half a trillion dollars a year into research and development. Only a single-digit percentage of that total ends up in products that make it to the public. Our partners realize the benefit of commercializing these orphaned technologies together.”

On average, MNCs spend up to $20 million to develop each technology, but thousands of solutions are shelved indefinitely, some with no foreseeable future. Though many of these technologies are sustainable solutions the planet needs, they remain on the shelf. Innventure approaches these corporations looking to identify just the right piece of tech. 

“The things we want to commercialize are disruptive,” says Haskell. “They have the potential to transform the market.”

Because Innventure is unwilling to gamble, this unique company-building platform maintains a high success rate. “We take the technology and start companies from scratch,” explains Haskell. “When we make a bet, it’s not on the business plan of an entrepreneur we’ve never met — we’re betting on our own team.”

Pure Cycle Technologies — From In-House Invention to Recycling Revolution

PureCycle Technologies is a perfect example of the disruptive tech that Innventure aims to commercialize. “PureCycle is the first company out of the stable from Innventure,” says Haskell. “We founded the company in 2015. Today, it is a public company worth north of $1 billion.”

PureCycle began with a partnership between Innventure leading consumer goods multi-national, Procter & Gamble, (P&G) (P&G change request) which employs considerable quantities of plastic including polypropylene.  Historically, the only high-quality polypropylene available to P&G and other companies was virgin resin made from petroleum. Conscious of the need to improve sustainability the company launched an internal R&D project that resulted in inventing a tech to convert dirty or used polypropylene into virgin quality resin.

“They have the technology, but they don’t want to be in the waste collection or recycling business,” explains Haskell. “Their primary driver was the end-use product but they also realized others would have the same problem they had.”

So, believing that sustainability is a “Team Sport” P&G approached Innventure who quickly confirmed the quality of the technology and agreed with P&G’s assessment that there was a massive and growing need in the market. So their team created PureCycle Technologies with one goal — “a pure planet.” Achieving this mission would require nothing less than a sustainable plastic revolution, and Innventure believed by adopting this orphaned tech they could bring it to the world.  

To execute the plan Mike Otworth left his role at Innventure to launch PureCycle. As CEO, he formed this new company specifically to convert P&G’s recycling technology into a commercial business.

Otworth and his team, Innventure and PureCycle co-founders John Scott and Rick Brenner, took PureCycle from a concept to an operational pilot plant in under two years. Subsequently, PureCycle went public and its first large-scale commercial plant comes online this year with its output pre-sold to P&G and others for the next 20 years.

“We view plastic waste as a renewable resource,” Otworth says. “Our groundbreaking recycling process separates color, odor, and contaminants from plastic waste and transforms it into pure recycled polypropylene. We’ve closed the loop on recycled plastics and are making recycled polypropylene accessible at scale, enabling companies to have sustainable, recycled resin.”

AeroFlexx delivers a second wave of sustainable technology to the market

A second collaboration between P&G’s scientists and Innventure’s entrepreneurs brings even more green tech to the market through AeroFlexx. This disruptive packaging technology promises to reduce the need for plastic drastically.

 “We have an unwavering obligation to society and future generations to do our part without compromise,” remarks Andrew Meyer, AeroFlexx’s CEO. “Humans create 300 million tons of plastic waste each year, and only 15% is recycled. This means 255 million tons of recyclable plastic enters our landfills and oceans each year. Using this technology we are tackling this issue head-on by reducing the use of plastic at the source and P&G has allowed us to make it available to all companies without restriction,  even to direct competitors. Together we believe we can make a real difference.”

Soon, everything from shampoo, conditioner, lotion, salad dressing, sauce, concentrates, syrup, soap, and cleaning supplies can be packaged in this flexible-yet-rigid material. The packs have no caps — just self-sealing valves that open with one pull and won’t leak, even when left upside down.

The projections for this sustainable technology are hopeful. The packaging material employs 50-70% less plastic up front. It also has successfully proven the use of recycled content being incorporated back into the package. In addition, the material’s lighter weight decreases energy consumption and emissions during shipping.

Less plastic packaging means over 50-70% less plastic in the environment. With the projected use of 500 million product units of AeroFlexx packaging over the next five years, this company plans to spare the environment 196.2 million pounds of plastic waste, 13.1 million gallons of gas, 51.4 million pounds of CO2, and 119.9 million kWh of Energy.

Thus far, Innventure has delivered two groundbreaking green technologies to the market, and more are on the way. Without this company’s innovative approach to commercialization, these technologies may have never seen the light of day. As Innventure partners with the next multinational corporation, they create a brighter future for everyone involved.

Highly Anticipated Bad Astro Society NFT Takes Investors to the Moon, Literally

Outer space is humanity’s new frontier. With the rapid technological progress that our society has experienced over the years, space travel is no longer a thing of the past. In the same vein, the renowned Bad Astro Society is ushering in a new age of possibilities through its highly anticipated NFT project. Boasting immense value, utility, and longevity, this NFT is unlike anything the world has ever seen before. 

The Bad Astro Society NFT is a collection of unique digital art pieces fostering a community that likes to have fun and set outrageous but attainable goals. Each digital art piece serves as a club membership to the Bad Astro Society and grants prospective holders exclusive access to events, merchandise and a plethora of game-changing incentives. However, the real value of the token lies in getting to experience the wonders of outer space in this lifetime. 

Bad Astro Society is setting its sights on purchasing a ticket to real-life outer space by 2030 for all its 10,000 members. Today, the highly coveted ticket can only be afforded by the ultra-wealthy, but with this renowned NFT project, anything is possible. “We want to use the NFT and crypto market to work for the members rather than just the founders,” explained the project creators. Each digital art piece in the Bad Astro Society collection features over 150 hand-drawn traits unique from each other. 

The main character of the art features an everyday person wearing one of four different types of astronaut suits. The designs range from the regular Astro suit, pimp suit, hoodie, and gorilla, each with an array of different colors and patterns that make each token entirely unique. The digital art pieces also have ten different background variations, which communicate differing circumstances.

Furthermore, to diversify the tokens, each token holds an object that communicates something fun, larger than life, and or history-altering concepts. The objects in hand range from planets, heavenly bodies, a bitcoin, a rainbow, and many more unique designs. “The point here is to communicate that you can own your future regardless of your circumstances. You can overcome and join those who have risen above their hardships, and now do whatever they want, like go to space,” shared the founders. 

The Bad Astro Society NFT hopes to benefit NFT enthusiasts and crypto communities with the purchasing power to mint their highly coveted NFTs— more specifically, people involved in Ethereum and Ethereum NFTs. “The reason is we will be minting in ETH, and we want to target people who have the funds available and have purchased NFTs before. They are savvy with tech, already understand the process, and are looking for good NFT projects to purchase/be involved in,” explained the project developers.  

Ultimately, there are no other NFT projects out there that can provide the tremendous value and utility that only the Bad Astro Society NFT offers. Featuring breathtaking digital art pieces that employ a feeling of fun, freedom, and creativity, the Bad Astro Society is poised to bring its many potential holders to the moon and back– literally.

With September around the corner, Apple prepares to announce its newest products in its launch event

September is around the corner, which means Apple fans are eager to see if their iPhone 14 speculation is correct.

Apple will hold a launch event at its Cupertino, California headquarters on September 7, a recurring event since 2012.

The event

Since 2020, restrictions related to COVID-19 have prompted Apple to use pre-recorded video for its launch events.

This year marks the first in-person event since 2019, while the event will also be streamed on Apple’s website and YouTube.

The Apple event typically draws millions of viewers on YouTube and attracts the attention of millions of people around the world.

For the 2022 edition, the event will use the slogan “far out,” which could indicate new features such as night sky photography.

The iPhone 14, Apple Watch, and iOS 16 are likely to be introduced at the Apple event.

It remains to be seen whether the iPad and Mac will be ready for launch as the software is incomplete.

iPhone 14

The iPhone is Apple’s biggest seller, and people have been speculating over the past year.

According to reports, the iPhone 13 range is the latest to include the mini in its lineup, as Apple will add a larger model instead.

Several media outlets and analysts also expect the Pro models to receive further upgrades, replacing the notch with a pill and hole cutout.

The Pro models would also feature the new A16 Bionic chip, while the iPhone 14 and iPhone 14 Max will continue to use the 2021 A15 chipset.

The biggest news for the iPhone 14 is the price, which many expect to see a $100 increase.

Read also: Quick news: Apple will be introducing more ads on iPhones and other devices, according to reports

The Apple Watch

In 2022, Apple will bring major upgrades to its Watch, adding more features to give the redesign a run for its price.

The Wall Street Journal reported that the company is considering a body temperature sensor in the new Apple Watch to help with fertility and sleep tracking.

The Apple Watch Series 8 could also add a “Pro” model with a bigger screen and a more durable finish.

The company has previously released watches with expensive case materials such as gold, ceramic, and titanium.

The new “Pro” model could pave the way for the first high-end Apple Watches with additional features that cheaper models lack.

Apple is also expected to launch an updated version of the Apple Watch SE as an entry-level watch.

Read also: Apple to Introduce Two New Security Features for Extra Measurement

iOS 16

Earlier this year, the iOS 16 beta made waves, delivering some eye-catching new features.

The software update includes the ability to customize the iPhone lock screen and change the clock font on the lock screen.

iOS 16 also allows users to cancel or edit iMessages within minutes of submitting them.

It introduces short-term loans from Apple called Apple Pay Later, allowing them to buy things online with Apple Pay.

The problem is that they would have to pay the item in four interest-free installments.

With iOS 16, users can turn their iPhone into a high-definition webcam for a Mac laptop or desktop.

The software is available for other iPhone models, but it remains to be seen who will be able to update their system.


Expect Apple to show four new iPhones and an updated Apple Watch next week