🚫 Elon Musk's $56B pay plan voided

Greetings! Your latest quick tech update is here 🤖

💡 On this day: On December 3, 1994, Sony revolutionized the gaming industry by launching the original PlayStation in Japan. This 32-bit console introduced advanced graphics and gameplay, setting new standards and leading to the PlayStation becoming one of the best-selling consoles of all time.

What’s happening:

• 💸 Delaware court denies Musk’s historic $56B pay package

• ⚠️ Intel CEO forced out by the board

• 🚨 Apple accused of illegal surveillance in employee lawsuit

• 💰 Cyber Monday sets record with $49.7B spent globally

• 🤖 ChatGPT glitch blocks 'David Mayer,' raises concerns

• + 📊 Daily poll and results

• + 📈 Trending tools and resources

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Hand-picked news:

💸 Delaware court denies Musk’s historic $56B pay package ↗️LINK

• What: Tesla CEO Elon Musk's 2018 pay package, valued at $56 billion, was permanently voided after a Delaware judge upheld an earlier ruling. The court found that Musk exercised excessive control over Tesla’s board to secure the compensation. Tesla plans to appeal, while Musk labeled the ruling as “absolute corruption.”

• Why: The judge ruled the approval process for the pay plan was “deeply flawed” and rejected Tesla’s attempt to validate it through a shareholder vote. The decision also awarded $345 million in legal fees to lawyers representing shareholders who sued to void the package.

• Impact: The ruling emphasizes governance concerns at Tesla and signals stricter oversight of executive pay practices. Despite this setback, Musk’s wealth continues to grow, buoyed by Tesla’s stock surge, further cementing his position among the world’s richest individuals.

⚠️ Intel CEO forced out by the board ↗️LINK

• What: Intel CEO Pat Gelsinger was forced out after the board lost confidence in his turnaround strategy. Interim leadership has been assigned while a replacement is sought. Gelsinger’s tenure saw ambitious efforts to regain chipmaking dominance and enter new markets, but the company struggled to deliver competitive products.

• Why: Intel's lag in AI chips and manufacturing setbacks frustrated the board. Despite securing $7.9 billion in federal subsidies for U.S. factory expansions, Gelsinger's plans failed to close the gap with rivals like Nvidia and TSMC.

• Impact: The shake-up may herald a new strategy, but Intel faces intense competition and investor skepticism. Gelsinger’s exit complicates U.S. ambitions to boost domestic chip production and counter global supply chain reliance.

🚨 Apple accused of illegal surveillance in employee lawsuit ↗️LINK

• What: Apple is facing a lawsuit filed by employee Amar Bhakta, alleging invasive surveillance and illegal restrictions on employee speech. The suit claims Apple forces workers to use its devices and services, enabling access to personal data, including emails, photos, and location.

• Why: Bhakta alleges these practices violate California labor laws, citing policies that restrict sharing workplace information and impose excessive monitoring. He also claims Apple’s actions stifled his professional growth and silenced workplace discussions.

• Impact: The case adds to broader criticisms of Apple’s labor practices, including prior NLRB accusations. It raises concerns about employee privacy and corporate control, potentially leading to scrutiny of tech workplace policies.

💰 Cyber Monday sets record with $49.7B spent globally ↗️LINK

• What: Consumers spent $49.7 billion globally online during Cyber Monday, marking a 3% increase from 2023. U.S. spending reached $13.3 billion (Adobe) or $12.8 billion (Salesforce). Cyber Week, encompassing Thanksgiving to Cyber Monday, saw global sales of $314.9 billion, up 6% year-over-year.

• Why: Deep discounts—up to 40% on makeup and apparel—drove purchases, with mobile accounting for 57% of sales. Rising use of "Buy Now, Pay Later" (BNPL) schemes also contributed, generating nearly $1 billion in sales.

• Impact: Cyber Monday reaffirmed its status as the biggest online shopping day, reflecting resilient consumer demand despite inflation concerns. The data underscores e-commerce's growing dominance, with mobile shopping and BNPL reshaping how consumers spend during the holidays.

🤖 ChatGPT glitch blocks 'David Mayer,' raises concerns ↗️LINK

• What: Users report a strange ChatGPT bug where the chatbot refuses to write the name "David Mayer," ending chats abruptly. Attempts to circumvent the issue, like using ciphers or personalization settings, also fail, leaving users puzzled.

• Why: Some speculate the glitch relates to GDPR requests, potentially from figures like David Mayer de Rothschild, though no evidence confirms this. OpenAI claims ChatGPT has no intentional restrictions on names unless related to privacy or copyright.

• Impact: The glitch raises concerns about censorship and control in AI systems, fueling debate over transparency. It underscores the challenges OpenAI faces as it scales, with growing scrutiny from its massive user base and plans to monetize further through advertising.

Today’s Poll:

Vote and find out about the result tomorrow.

Yesterday’s Poll Result:

China's Tech Talent War: Healthy Competition or Risky Trend?

• A) Healthy – It drives innovation across industries - 41%

• B) Risky – It threatens the West’s tech leadership - 59% 👑

Readers opinion:

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