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If you saw a good friend of yours, someone that you loved, backsliding again into their destructive habits, you’d say something, right? I would. And I have to do it now. America, you’re my friend. And we need to talk about all of these massive electric trucks.

It’s no secret that America has a love affair with massive vehicles, namely trucks and SUVs. But what is a bit less well known is exactly why. As you can probably guess though, it has to do with money, namely profits for manufacturers.

There was a time when the “big family car” in the US was a station wagon. It fit a seven-person family and the dog, plus everyone’s luggage, and became the iconic family road trip vehicle for decades. It was a simpler time, when cars weighed less, held more, and had better visibility.

So why did that change? Mostly it had to do with the US automotive industry successfully lobbying to get pickup trucks and SUVs classified as “light trucks,” a category previously reserved for commercial vehicles, and one that made it possible to avoid regulations. It was possible because this automotive class, as mostly commercial vehicles, was exempt from the more stringent safety and emissions standards applied to regular passenger cars.

So the US auto industry discovered they could sell vehicles that avoided stricter safety and emissions regulations, thus saving them money in manufacturing. And perhaps most egregious of all, automakers even discovered they could charge a premium doing it by pitching such large automobiles as lifestyle vehicles.

Rivian Nasdaq-100 stock index
Rivian’s electric trucks are some of the most powerful and quickest accelerating of them all.

I had hoped that the advent of electric vehicles might finally provide a return to form once avoiding emissions regulations would no longer be a unique advantage of producing in the massive “light truck” category. But I underestimated the inertia of the American automotive industry. The problem is that automakers had already spent two decades telling Americans that if they don’t buy a bigger vehicle than their neighbor, then what were they even doing?

And so it should come as no surprise that in a country where the single best-selling vehicle of any type is a Ford F-150 pickup truck, the last couple years have seen the rollout of the 6,500 lb. Ford F-150 Lightning, the 7,000 lb. Rivian R1S & R1T, the 8,000 lb. Chevy Silverado EV and the gluttonous 9,000 lb. GMC HUMMER EV. All of these are 100% electric trucks and SUVs, and all of them are utterly massive. Listen America, we need to talk. Consider this an intervention.

GMC HUMMER EV next to the GMC HUMMER EV ALL-WHEEL-DRIVE E-BIKE. The HUMMER’s battery could make over 200 e-bike batteries.

It’s not your fault, America. It’s the automakers’ fault. As Americans, we once got by just fine with smaller trucks.

Remember the Ford Rangers and Chevy S10s of the early 1990s? Here’s the crazy thing. A 1993 Ford Ranger compact pickup truck weighed just 2,900 lb. and yet had a longer bed than Ford, Chevy, and Rivian’s massive electric trucks of today. Some comparisons are nearly comical, like Rivian’s 4’6″ bed compared to the 6′ standard and 7′ long bed on the cute little 2,900 lb. Ford Ranger that came 30 years earlier.

And if you think that’s bad, consider that those two trucks have the same payload capacity. That’s right, they are rated to haul the same amount of weight, around 1,250 to 1,500 lb. depending on the configuration, even though that payload is a full half the weight of the ’90s truck and less than a quarter of the weight of today’s massive trucks.

The even smaller 2,600 lb. Chevy S10 compact pickup truck had a 1,216 lb. payload capacity in 1993, which is nearly identical to the 1,300 lb. payload capacity of the 8,000 lb. Chevy Silverado EV pickup truck recently grabbing headlines. One truck weighs over three times as much as the other and yet they can both haul the same amount of weight.

Ford Lightning orders
The F-150 Lightning Lariat

Okay, so if the trucks have the same cargo capabilities, then where is all of that extra weight coming from on today’s massive e-trucks? It’s largely coming from two areas: gigantic powertrains and an excessive amount of fluffy creature comforts.

These lifestyle trucks aren’t just rolling living rooms. They’re also supercars. The Rivian R1T has a 3.1 second 0-60 mph time. The Ford F-150 Lightning does it in 3.8 seconds. Those are competition numbers, folks. There are dudes turning wrenches in their garages right now that could only dream of getting their cars to the mark in 3.1 seconds.

It’s a feat that is possible thanks to that massive torque and low-end power offered by electric motors, but it simply isn’t necessary for most people. There’s no case where the driver of an 8,000 lb. truck needs to get it up to 60 mph in 3.1 seconds, and in fact its ability to do so has been correctly highlighted as a danger in and of itself.

Ford-F-150-Lightning-towing

But what about towing?

Aha! There you go: towing. This is pretty much the only vestige of reasonableness left for these massively oversized electric trucks, and even this one is pretty thin. The extreme power that gives these 8,000 lb. vehicles faster acceleration than many sports cars also translates into impressive towing. It’s the one area where they best compact pickup trucks from 30 years ago, offering much higher towing capacities.

But here in lies the rub: Most people don’t need that kind of towing power. At least, they don’t need it very often. If you live south of the Mason-Dixon line, take a closer look at the sea of pickup trucks driving around every day. How many of them are towing anything? Almost none of them, that’s how many. In fact, how many of them have literally anything in the bed? Very few of them, that’s how many.

I’d wager that mosts Honda Civics have more junk floating around their trunks than most modern pickup trucks have in their beds. Next time you’re in the parking lot at Lowes or Home Depot, take a peek at how many of the pickup trucks have nice, shiny tail gates without a scratch on them.

But I digress, we were talking about towing. The standard argument is “but what if I need to tow something?” And the correct answer is, “most people rarely do.” Sure, some people live out of an Airstream trailer that is permanently connected to their truck. But most truck owners tow something heavy a few times a year, maximum. More common towing operations are smaller, lighter jobs that could be performed with a much smaller vehicle. In Europe, it is common to see people towing a camper behind a small family car.

Don’t get me started on you, Tesla Cybertruck.

Now if you’re a truck owner, I’m not saying that you specifically don’t use your truck. Or that you never tow or never haul. I’m just saying that almost every time you’ve used your truck recently, it’s probably been for a job that could have been done by a much smaller vehicle, or even… gasp! A compact pickup truck weighing a third as much.

And yes, I’m generalizing here. On average, most trucks on the road right now aren’t doing “truck” things. But not all of them. If you run a landscaping business and you have a 16-foot enclosed landscaping trailer behind your truck, then carry on, this isn’t about you. Thank you for your service. If you’re a diving instructor and pull a boat to the marina or two dozen scuba tanks as part of your job, then have at it. If you’re a plumber and have a bed full of pipes, ladders, and other assorted fitting gear, then go for it. There are people that use their trucks for trucking each and every day. That’s all good, go to town. Because yes, there are real uses for big trucks, so I’m not saying those trucks shouldn’t exist. But what I am saying is that most truck owners don’t actually need them and could instead use a much smaller truck, if they still want to be in a truck. These are the recreational truck owners. The lifestyle truck owners. The majority of truck owners, the majority of the time.

Most people that need “truck capabilities” end up needing to move a couch or a refrigerator once in a blue moon. It’s just like how many electric car owners will say they like knowing they have over 300 miles of range, but you’d be hard-pressed to find many that have actually driven over 300 miles in the car recently.

Silverado EV towing
Out of all the trucks you saw this week, how many were doing this?

And if that’s you, the occasional “I need to move a couch or my dirt bike” truck owner, then first of all that could be done in a compact truck. And second of all, it could also be done in a rental truck, not one that you drive every day while wasting energy and putting both yourself and others in harm’s way with the increased size, diminished safety (fewer safety regulations for light trucks!), and reduced visibility.

I’m not trying to point fingers, but if I’m doing, then I’ll look inwards as well. I can even see it in my own family. My sister runs a furniture refinishing business and so she bought a Silverado (not the EV one). It’s massive. And yes, once in a while she moves a dresser or a table. But for every trip that she has furniture in the bed, there are probably 20 trips where she’s picking up a gallon of paint or a box of nails or dropping her kids off at school. All of those trips could just the same be performed in a compact truck or a family sedan or even on a bicycle. I love my sister and I hope she never reads this, but even in her case as a blue-collar small business owner, she’d be better off with a small car and just renting the occasional truck. Or even putting a trailer behind a small car. An expensive truck that actually “trucks” infrequently is simply a waste of money, energy, and resources. It’s also a waste of space, especially when you look at parking. Many parking lots simply can’t accommodate today’s larger trucks into existing parking spaces.

America needs to reform its microcar laws

One of the reasons we likely don’t see compact electric trucks (or really any compact trucks in serious numbers) anymore is because there just isn’t much profit in it. Automakers have already “sold” Americans on the idea that they need a bigger vehicle, and so now all of the profits are in producing those bigger vehicles and squeezing more add-on cash flow out of them in the form of accessories, servicing, etc.

But what could finally make a dent in that would be new electric mini-truck laws.

telo parked street

We almost had a true highway-capable electric mini-truck in the form of the recently unveiled TELO mini-truck, but there too the designers ended up screwing the pooch by chasing after the high-end market.

They gave it a top speed of 125 mph, which is ridiculous considering you can’t legally do anywhere close to that in the US. They gave it 500 horsepower, which is ridiculous in a freaking mini-truck. They gave it a 0-60 second time of 4.0 seconds, which again, is ridiculous in a mini-truck. And they gave it an estimated $50,000 price, which since no automaker has yet stuck to their estimated price, means it will be north of $50K if it ever makes it to market.

No one buys a mini-truck as a lifestyle vehicle or to make a statement (unless your statement is that your manhood is so appreciable that driving a mini-truck is doing the opposite of compensating for any, ummm, insufficiencies you may be hiding). People use mini-trucks for getting work done. They use them for hauling crap around town, making deliveries, and generally going about real daily work.

The problem is that the US’s microcar laws, which created a class known as Low Speed Vehicles to remove nearly all of the safety regulatory hurdles of larger cars, also has the unfortunate stipulation of limiting speeds of these vehicles to just 25 mph. That’s too slow for most people to feel comfortable driving a truck in a city or suburb, even if in actuality traffic often moves at far less than 25 mph in many cities and suburbs.

electric mini-truck
My electric mini-truck does 25 mph, though I only use it off-road for farm work.

But if the US finally created a similar class of vehicles to quadricycles in Europe, a group of four-wheeled vehicles that have fewer regulations but are limited in speed to around 45-55 mph, then an entire new industry of electric mini-trucks could spring up nearly overnight.

Automakers could enjoy quicker paths to market and lower development costs, and consumers could enjoy lower-cost, smaller, and more convenient electric trucks. Because let’s face it, as much as you’d like a new 450-mile range Chevy Silverado EV truck, you don’t have the $77,000 for it.

But you might have $35K for a modern day Chevy S10 pickup compact pickup truck that just reaches highway speeds or $25K for an electric mini-truck that can hit city/suburb speeds.

I even tow with my electric mini-truck, and it’s got a 5 hp motor for crying out loud! This stuff isn’t rocket science.

As much as I’d like to see a new class of mini-truck and not-as-low-speed-vehicle laws, it’s unlikely to happen anytime soon. But that doesn’t mean it’s any less important of a goal to work toward. Electric mini-trucks are common in Asia and Europe precisely because they have laws that create a framework for their production and use.

That’s what the US needs. It needs electric mini-trucks that can legally reach 45 mph to more comfortably traverse suburbs and larger city streets. It needs automakers to return to the concept of compact pickup trucks, offering us electric versions that top out at 80 mph yet can haul as much as massive flagship electric trucks over twice their weight.

I’m not sure how we achieve that, but it seems like it needs to be an outside force. The automakers have demonstrated that they aren’t interested in doing it themselves. Weight-based vehicle registration fees have been presented in New York and other areas, and perhaps parking should be prioritized for smaller, more space efficient cars. There’s plenty of ways to help guide drivers towards cars that are smaller, safer, and more efficient.

I’m not saying the existing group of massive trucks need to go, though part of me wishes they would be relegated to commercial use as they were once intended. But we need to provide better offerings that more accurately match what drivers actually need, not what automakers tell them they need. Because for every pickup truck or SUV out there towing a boat right now, there are triple digits of pickup trucks and SUVs hauling a gallon of milk and little Timmy’s soccer bag. A more American road image, unfortunately I can not imagine.

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Several Waymo self-driving I-Pace electric cars set on fire in LA riots

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Several Waymo self-driving I-Pace electric cars set on fire in LA riots

At least 5 Waymo self-driving I-Pace electric cars were set on fire amid protests that turned violent in Los Angeles this weekend.

It could represent as much as 5% of Waymo’s fleet in Los Angeles being destroyed.

The United States Immigration and Customs Enforcement (ICE) launched several raids in the Los Angeles area last week that triggered large-scale protests across the city over the weekend.

The protests were mostly peaceful and aimed to bring attention to federal agents indiscriminately arresting and detaining people, but in some cases, they were violent clashes with the police.

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Things took a turn for the worse with President Trump calling the National Guard.

There have been several instances of rioting, looting, and general property damage.

In a unique case, it appears that one or more rioters purposely called multiple Waymo vehicles to Arcadia and Alameda streets, where they slashed the vehicles’ tires, broke the windows, and wrote anti-ICE messages on them.

At around 5 PM on Sunday, the Waymo vehicles were set on fire:

With the ongoing protests, the fire department couldn’t get access to the vehicles and they eventually completely burned down:

Waymo is believed to be operating a fleet of about 100 self-driving cars in the Los Angeles area. Therefore, a significant percentage of the fleet was burned down today.

The company completes over 120,000 rides per week in California, but it operates a bigger fleet in the Bay Area and covers a big service area than in LA.

Waymo shouldn’t have too many issues replenishing its fleet, considering it recently acquired over 2,000 Jaguar I-Pace electric vehicles to more than double its entire fleet over the next year.

The company currently operates over 1,500 vehicles across San Francisco, Los Angeles, Phoenix, and Austin.

With a high utilization rate, the relatively small fleet has already taken significant market shares of those ride-hailing markets. It is estimated that Waymo accounts for approximately 20% of the ride-hailing market in San Francisco.

The new vehicles are going to enable Waymo to expand into new markets.

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‘Bitcoin Family’ hides crypto codes etched onto metal cards on four continents after recent kidnappings

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'Bitcoin Family' hides crypto codes etched onto metal cards on four continents after recent kidnappings

The Taihuttus on a ski trip to Sierra Nevada in southern Spain. They sold everything they owned in 2017 to bet on bitcoin — and now travel full-time as a family of five.

Didi Taihuttu

A wave of high-profile kidnappings targeting cryptocurrency executives has rattled the industry — and prompted a quiet security revolution among some of its most visible evangelists.

Didi Taihuttu, patriarch of the so-called “Bitcoin Family,” said he overhauled the family’s entire security setup after a string of threats.

The Taihuttus — who sold everything they owned in 2017, from their house to their shoes, to go all-in on bitcoin when it was trading around $900 — have long lived on the outer edge of crypto ideology. They travel full-time with their three daughters and remain entirely unbanked.

Over the past eight months, he said, the family ditched hardware wallets in favor of a hybrid system: Part analog, part digital, with seed phrases encrypted, split, and stored either through blockchain-based encryption services or hidden across four continents.

“We have changed everything,” Taihuttu told CNBC on a call from Phuket, Thailand. “Even if someone held me at gunpoint, I can’t give them more than what’s on my wallet on my phone. And that’s not a lot.”

CNBC first reported on the family’s unconventional storage system in 2022, when Taihuttu described hiding hardware wallets across multiple continents — in places ranging from rental apartments in Europe to self-storage units in South America.

The Taihuttu family dressed up for Halloween in Phuket, Thailand, where they recently moved homes after receiving disturbing messages pinpointing their location from YouTube videos.

Didi Taihuttu

As physical attacks on crypto holders become more frequent, even they are rethinking their exposure.

This week, Moroccan police arrested a 24-year-old suspected of orchestrating a series of brutal kidnappings targeting crypto executives.

One victim, the father of a crypto millionaire, was allegedly held for days in a house south of Paris — and reportedly had a finger severed during the ordeal.

In a separate case earlier this year, a co-founder of French wallet firm Ledger and his wife were abducted from their home in central France in a ransom scheme that also targeted another Ledger executive.

Last month in New York, authorities said, a 28-year-old Italian tourist was kidnapped and tortured for 17 days in a Manhattan apartment by attackers trying to extract his bitcoin password — shocking him with wires, beating him with a gun, and strapping an Apple AirTag around his neck to track his movements.

The common thread: The pursuit of crypto credentials that enable instant, irreversible transfers of virtual assets.

Exodus CEO: U.S. buying bitcoin would be a global signal — but taxpayers shouldn’t foot the bill

“It is definitely frightening to see a lot of these kidnappings happen,” said JP Richardson, CEO of crypto wallet company Exodus. He urged users to take security into their own hands by choosing self-custody, storing larger sums on hardware wallets, and — for those holding significant assets — exploring multi-signature wallets, a setup typically used by institutions.

Richardson also recommended spreading funds across different wallet types and avoiding large balances in hot wallets to reduce risk without sacrificing flexibility.

That rising sense of vulnerability is fueling a new demand for physical protection with insurance firms now racing to offer kidnap and ransom (K&R) policies tailored to crypto holders.

But Taihuttu isn’t waiting for corporate solutions. He’s opted for complete decentralization — of not just his finances, but his personal risk profile.

As the family prepares to return to Europe from Thailand, safety has become a constant topic of conversation.

“We’ve been talking about it a lot as a family,” Taihuttu said. “My kids read the news, too — especially that story in France, where the daughter of a CEO was almost kidnapped on the street.”

Now, he said, his daughters are asking difficult questions: What if someone tries to kidnap us? What’s the plan?

One of the steel plates the Taihuttu family uses to store part of their bitcoin seed phrase. Didi etched it by hand using a hammer and letter punch — part of a decentralized storage system spread across four continents.

Didi Taihuttu

Though the girls carry only small amounts of crypto in their personal wallets, the family has decided to avoid France entirely.

“We got a little bit famous in a niche market — but that niche is becoming a really big market now,” Taihuttu said. “And I think we’ll see more and more of these robberies. So yeah, we’re definitely going to skip France.”

Even in Thailand, Taihuttu recently stopped posting travel updates and filming at home after receiving disturbing messages from strangers who claimed to have identified his location from YouTube vlogs.

“We stayed in a very beautiful house for six months — then I started getting emails from people who figured out which house it was. They warned me to be careful, told me not to leave my kids alone,” he said. “So we moved. And now we don’t film anything at all.”

“It’s a strange world at the moment,” he said. “So we’re taking our own precautions — and when it comes to wallets, we’re now completely hardware wallet-less. We don’t use any hardware wallets anymore.”

To throw off would-be attackers, Didi Taihuttu encrypts select words from each 24-word seed phrase — then splits the phrases into four sets of six and hides them around the world.

Didi Taihuttu

The family’s new system involves splitting a single 24-word bitcoin seed phrase — the cryptographic key that unlocks access to their crypto holdings — into four sets of six words, each stored in a different geographic location. Some are kept digitally through blockchain-based encryption platforms, while others are etched by hand into fireproof steel plates using a hammer and letter punch, then hidden in physical locations across four continents.

“Even if someone finds 18 of the 24 words, they can’t do anything,” Taihuttu explained.

On top of that, he’s added a layer of personal encryption, swapping out select words to throw off would-be attackers. The method is simple, but effective.

“You only need to remember which ones you changed,” he said.

Part of the reason for ditching hardware wallets, Taihuttu said, was a growing mistrust of third-party devices. Concerns about backdoors and remote access features — including a controversial update by Ledger in 2023 — prompted the family to abandon physical hardware altogether in favor of encrypted paper and steel backups.

While the family still holds some crypto in “hot” wallets — for daily spending or to run their algorithmic trading strategy — those funds are protected by multi-signature approvals, which require multiple parties to sign off before a transaction can be executed.

The Taihuttus use Safe — formerly Gnosis Safe — for ether and other altcoins, and similarly layered setups for bitcoin stored on centralized platforms like Bybit.

Didi Taihuttu during a recent visit to Sierra Nevada, Spain. The family’s lifestyle — unbanked, nomadic, and all-in on bitcoin — makes them outliers even in the crypto world.

Didi Taihuttu

About 65% of the family’s crypto is locked in cold storage across four continents — a decentralized system Taihuttu prefers to centralized vaults like the Swiss Alps bunker used by Coinbase-owned Xapo. Those facilities may offer physical protection and inheritance services, but Taihuttu said they require too much trust.

“What happens if one of those companies goes bankrupt? Will I still have access?” he said. “You’re putting your capital back in someone else’s hands.”

Instead, Taihuttu holds his own keys — hidden across the globe. He can top up the wallets remotely with new deposits, but accessing them would require at least one international trip, depending on which fragments of the seed phrase are needed. The funds, he added, are intended as a long-term pension to be accessed only if bitcoin hits $1 million — a milestone he’s targeting for 2033.

The shift toward multiparty protections extends beyond just multi-signature. Multi-party computation, or MPC, is gaining traction as a more advanced security model.

Didi, Romaine, and their three daughters live largely off-grid, managing crypto through decentralized exchanges, algorithmic trading bots, and a globally distributed cold storage system.

Didi Taihuttu

Instead of storing private keys in one place — a vulnerability known as a “single point of compromise” — MPC splits a key into encrypted shares distributed across multiple parties. Transactions can only go through when a threshold number of those parties approve, sharply reducing the risk of theft or unauthorized access.

Multi-signature wallets require several parties to approve a transaction. MPC takes that further by cryptographically splitting the private key itself, ensuring that no single individual ever holds the full key — not even their own complete share.

The shift comes amid renewed scrutiny of centralized crypto platforms like Coinbase, which recently disclosed a data breach affecting tens of thousands of customers.

Taihuttu, for his part, says 80% of his trading now happens on decentralized exchanges like Apex — a peer-to-peer platform that allows users to set buy and sell orders without relinquishing custody of their funds, marking a return to crypto’s original ethos.

While he declined to reveal his total holdings, Taihuttu did share his goal for the current bull cycle: a $100 million net worth, with 60% still held in bitcoin. The rest is a mix of ether, layer-1 tokens like solana, link, sui, and a growing number of AI and education-focused startups — including his own platform offering blockchain and life-skills courses for kids.

Lately, he’s also considering stepping back from the spotlight.

“It’s really my passion to create content. It’s really what I love to do every day,” he said. “But if it’s not safe anymore for my daughters … I really need to think about them.”

WATCH: ‘Bitcoin Family’ tracks moon cycles to make crypto investment decisions

'Bitcoin Family' tracks moon cycles to make crypto investment decisions

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Morgan Stanley upgrades this mining stock as best pick to play rare earths

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Morgan Stanley upgrades this mining stock as best pick to play rare earths

A wheel loader operator fills a truck with ore at the MP Materials rare earth mine in Mountain Pass, California, January 30, 2020.

Steve Marcus | Reuters

The rare-earth miner MP Materials will enjoy growing strategic value to the U.S., as geopolitical tensions with China make the supply of critical minerals more uncertain, according to Morgan Stanley.

The investment bank upgraded MP Materials to the equivalent of a buy rating with a stock price target of $34 per share, implying 32% upside from Friday’s close.

MP Materials owns the only operating rare earth mine in the U.S. at Mountain Pass, California. China dominates the global market for rare earth refining and processing, according to Morgan Stanley.

“Geopolitical and trade tensions are finally pushing critical mineral supply chains to top of mind,” analysts led by Carlos De Alba told clients in a Thursday note. “MP is the most vertically integrated rare earths company ex-China.”

Beijing imposed export restrictions on seven rare earth elements in April in response to President Donald Trump’s tariffs. It has kept those restrictions in place despite trade talks with U.S.

Trump removed some restrictions Wednesday on the Defense Production Act, which could allow the federal government to offer an above market price for rare earths. MP Materials is the best positioned company to benefit from this, according to Morgan Stanley. Its shares rose more than 5% on Thursday.

MP Materials is developing fully domestic rare earth supply chain in the U.S. and plans to begin commercial production of magnets used in most electric vehicle motors, offshore wind wind turbines, and the future market for humanoid robots, according to Morgan Stanley.

The investment bank expects MP Materials to post negative free cash flow this year and in 2026, but the company has a strong balance sheet should accelerate positive free cash flow from 2027 onward.

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