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Neuralink logo displayed on a phone screen, a silhouette of a paper in shape of a human face and a binary code displayed on a screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on December 10, 2021.

Jakub Porzycki | Nurphoto | Getty Images

Elon Musk’s health tech venture Neuralink shared updates to its brain-implant technology during a “show and tell” recruitment event Wednesday night. Musk said during the event that he plans to get one of the implants himself.

Musk said two of the company’s applications will aim to restore vision, even for people who were born blind, and a third application will focus on the motor cortex by restoring “full body functionality” for people with severed spinal cords. “We’re confident there are no physical limitations to restoring full body functionality,” Musk said.

Neuralink could begin to test the motor cortex technology in humans in as soon as six months, Musk said.

“Obviously, we want to be extremely careful and certain that it will work well before putting a device in a human, but we’re submitted, I think, most of our paperwork to the FDA,” he said.

But he also claimed he plans to get one himself. “You could have a Neuralink device implanted right now and you wouldn’t even know. I mean, hypothetically. In one of these demos, in fact, in one of these demos, I will,” he said. He reiterated that on Twitter after the event.

Since none of Neuralinks’ devices have been tested on humans or approved by the FDA, Wednesday’s announcements warrant skepticism, said Xing Chen, assistant professor in the Department of Ophthalmology at the University of Pittsburgh School of Medicine.

“Neuralink is a company, it doesn’t have to answer to shareholders,” she told CNBC. “I don’t know how much oversight is involved, but I think it’s very important for the public to always keep in mind that before anything has been approved by the FDA, or any governmental regulatory body, all claims need to be very, very skeptically examined.”

Neuralink was founded in 2016 by Musk and a group of other scientists and engineers. It strives to develop brain-computer interfaces, or BCIs, that connect the human brain to computers that can decipher neural signals.

Musk invested tens of millions of his own personal wealth into the company and has said, without evidence, that Neuralink’s devices could enable “superhuman cognition,” enable paralyzed people to operate smartphones or robotic limbs with their minds someday, and “solve” autism and schizophrenia.

The company’s presentation Wednesday echoed these lofty ambitions, as Musk claimed that “as miraculous as it may sound, we’re confident that it is possible to restore full body functionality to someone who has a severed spinal cord.”

Musk showed footage of a monkey with a computer chip in its skull playing “telepathic video games,” which Neuralink first debuted over a year ago. The billionaire, who is also the CEO of Tesla, SpaceX and the new owner of Twitter, said at the time that he wants to implant Neuralink chips into quadriplegics who have brain or spinal injuries so that they can “control a computer mouse, or their phone, or really any device just by thinking.”

Neuralink has come under fire for its alleged treatment of monkeys, and the Physician’s Committee for Responsible Medicine called on Musk Wednesday to release details about experiments on monkeys that had resulted in their internal bleeding, paralysis, chronic infections, seizures, declining psychological health and death.

Jeff Miller/University of Wisconsin-Madison

Neuralink’s flashy presentations are unusual for companies in the medical devices space, said Anna Wexler, an assistant professor of Medical Ethics and Health Policy at the Perelman School of Medicine at the University of Pennsylvania. She said it’s risky to encourage people who have serious disabilities to get their hopes up, especially if they could possibly incur injuries as the technology is implanted during surgery.

Wexler encouraged people to put on their “skeptic hat” about Neuralink’s big claims.

“From an ethical perspective, I think that hype is very concerning,” she said. “Space or Twitter, that’s one thing, but when you come into the medical context, the stakes are higher.”

Chen, who specializes in brain-computer interfaces, said Neuralink’s implants would require subjects to undergo a very invasive procedure. Doctors would need to create a hole in the skill in order insert the device into the brain tissue itself.

But even so, she thinks some people would be willing to take the risk.

“There’s quite a few disorders such as epilepsy, Parkinson’s and obsessive-compulsive disorder in which people have received brain implants and the disorders have been treated quite successfully, allowing them to have an improved quality of life,” Chen said. “So I do feel that there is a precedent for doing this.”

Wexler said she believes the decision would ultimately come down to an individual patient’s personal risk-benefit calculation.

Neuralink is not the only company trying to innovate using brain-computer interfaces, and many have made big strides in recent years. Blackrock Neurotech is on track to bring a BCI system to market next year, which would make it the first commercially available BCI in history. Synchron received FDA approval in 2021 to begin a clinical trial for a permanently implanted BCI, and Paradromics is reportedly gearing up to begin in-human testing in 2023.

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Sam Bankman-Fried tried to influence witness through Signal, DOJ alleges

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Sam Bankman-Fried tried to influence witness through Signal, DOJ alleges

Former FTX chief executive Sam Bankman-Fried (C) arrives to enter a plea before US District Judge Lewis Kaplan in the Manhattan federal court, New York, January 3, 2023. 

Ed Jones | AFP | Getty Images

Federal prosecutors are attempting to bar indicted FTX co-founder Sam Bankman-Fried from using encrypted messaging software, citing efforts that may “constitute witness tampering,” according to a letter filed in Manhattan federal court Friday.

Bankman-Fried reached out to the “current General Counsel of FTX US who may be a witness at trial,” prosecutors said. Ryne Miller, who was not identified by name in the government filing, is the current counsel for FTX US, and a former partner at Kirkland & Ellis.

The government claims that Bankman-Fried wrote to Miller via Signal, an encrypted messaging app, on Jan. 15, days after bankruptcy officials at crypto exchange disclosed the recovery of more than $5 billion in FTX assets.

“I would really love to reconnect and see if there’s a way for us to have a constructive relationship, use each other as resources when possible, or at least vet things with each other,” Bankman-Fried allegedly told Miller.

Bankman-Fried has also been in contact with “other current and former FTX employees,” the filing said. Federal prosecutors allege that Bankman-Fried’s request suggests an effort to influence the witness’s testimony, and that Bankman-Fried’s effort to improve his relationship with Miller “may itself constitute witness tampering.”

Both Miller and a representative for Bankman-Fried declined to comment.

In restricting Bankman-Fried’s access to Signal and other encrypted messaging platforms, the government cites a need to “prevent obstruction of justice.” Federal prosecutors claim that Bankman-Fried directed Alameda and FTX through Slack and Signal, and ordered his employees set communications to “autodelete after 30 days or less.”

Citing previously undisclosed testimony from ex-Alameda CEO Caroline Ellison, the government claimed that Bankman-Fried indicated “many legal cases turn on documentation and it is more difficult to build a legal case if information is not written down or preserved.” Ellison pled guilty to multiple charges of fraud and has been cooperating with the U.S. Attorney’s efforts to build a case against Bankman-Fried.

Bankman-Fried pled not guilty to eight charges in connection with the collapse of his multibillion-dollar crypto empire, FTX. He is due in federal court in October, after being released on $250 million bond.

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Amazon to start charging delivery fees on Fresh grocery orders under $150

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Amazon to start charging delivery fees on Fresh grocery orders under 0

Brendan McDermid | Reuters

Amazon will start charging delivery fees for Fresh grocery orders that are less than $150, in a move it said will help keep prices low on its services.

Beginning Feb. 28, Prime members who want home delivery from Amazon Fresh will incur a $9.95 delivery fee for orders under $50, while orders between $50 and $100 will include a $6.95 delivery fee, and orders between $100 and $150 will carry a $3.95 delivery fee, the company said in a note to customers viewed by CNBC. Only Prime members can use the delivery service, although anybody can shop at an Amazon Fresh grocery store.

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Amazon previously guaranteed members of its $139-a-year Prime service free delivery on Fresh orders over $35.

“This service fee will help keep prices low in our online and physical grocery stores as we better cover grocery delivery costs and continue to enable offering a consistent, fast, and high-quality delivery experience,” the notice stated.

The move comes as Amazon CEO Andy Jassy has embarked on a wide-ranging review of the company’s expenses amid slowing sales and a worsening economic outlook. Amazon has eyed laying off 18,000 employees, frozen hiring in its corporate workforce, and paused or canceled some projects such as a sidewalk robot and a telehealth service.

Amazon has previously recalibrated its approach to online grocery deliveries, a business that is notoriously challenging from a cost and efficiency perspective. In 2021, Amazon added a $10 service fee for Whole Foods delivery orders to Prime members, after previously offering them for no extra charge.

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Tesla just had its best week since May 2013

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Tesla just had its best week since May 2013

Tesla CEO Elon Musk smiles as he addresses guests at the Offshore Northern Seas 2022 (ONS) meeting in Stavanger, Norway on August 29, 2022.

Carina Johansen | AFP | Getty Images

Tesla shares surged 33% this week, marking their best weekly performance since May 2013 and second best on record.

The stock rose 11% on Friday to close at $177.88. The rebound followed a six-month period in which Tesla shares had declined more than 40%. The stock’s 65% plunge in 2022 was its worst in Tesla’s 12-plus years as a public company.

Tesla’s rally this week was aided by an upbeat fourth-quarter earnings report. During the call with shareholders and analysts, CEO Elon Musk said the company was on target to potentially produce 2 million vehicles in 2023, and he suggested demand would support sales of those cars as well.

Official guidance called for production of 1.8 million vehicles this year. The company has not revised its longstanding target for 50% compound annual growth rate over a multi-year horizon.

Tesla’s five day performance charted against Rivian and Ford Motor Company.

Tesla beat on both the top and the bottom lines, recording total revenue of $24.32 billion, including $324 million of deferred revenue related to Tesla’s driver assistance systems. The company cut prices for its cars dramatically in December and January, leading to concern about demand and a buildup of inventory.

Analyst reaction to Tesla’s numbers was mixed.

“For bulls, the growth story is alive and well,” Bernstein’s Toni Sacconaghi, who has an underperform rating on the stock, wrote in a note on Thursday. “For bears, the numbers don’t lie.”

In early January, Tesla reported fourth-quarter vehicle deliveries and production that fell shy of expectations.

Tesla’s stock jump came amid a broader market rally. The S&P 500 was up 2.2% for the week and the Nasdaq gained 4.3%.

Other U.S.-based electric vehicle makers saw their shares climb higher. Rivian rose 22% during the week, while shares in legacy automakers Ford and General Motors each gained more than 7%.

Rival electric car manufacturer Lucid spiked on Friday as well, rising 43% on reports of rumors that Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, intended to take the company private.

Some of Tesla’s underperformance last year was attributed to Musk’s shift of focus to Twitter, which he acquired for $44 billion in October. Under Musk’s leadership, Twitter has experienced mass layoffs and fleeing advertisers, gutting morale.

Tesla remains the second most-shorted stock in U.S. markets, behind only Apple, meaning that a large numbers of investors are betting on a decline. Over 94 million of the automaker’s shares are shorted, according to data from S3 Partners.

Despite the rally, active short selling continues, S3 managing director Ihor Dusaniwsky told CNBC. Short sellers view Tesla’s appreciation as having created “an overheated and overbought stock that is due for at least a short-term reversal,” he said. In the last week, S3 Partners said it’s seen a 3.9% increase in total shares shorted, while investors shorting the stock lost $4.3 billion over that stretch.

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