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Foil wings are changing the way that watercraft operate. Foils are now exploding in water transport, from surfing to boating and everything in between.

Foils aren’t necessarily a new technology. I remember taking a Hydrofoil passenger ferry from Hong Kong to Macau every few weeks when I lived in Asia in the late 90s. By knifing through the water rather than riding on top of it, the foils are much faster, more efficient and also, as a byproduct, are much smoother (no seasickness!).

How does that translate to the latest eFoil surf technology from Lift foil surfboards? The company flew me out to their Puerto Rican HQ, factory, and testing grounds to find out…

As a background, Lift is a Puerto Rican-based maker of foil surfboards and electric foil (eFoil) surfboards. From my snowboarding background, they are kind of like Burton was in the 90’s. The company is pushing the industry forward, not just for recreational ease and innovation but also at the professional sporting level.

The Lift5 board is a huge step in the development of eFoil boards, making setup and riding an extremely quick operation. Instead of a complicated mess of wiring hookups and assembly, the Lift5 2.2kW battery (smaller, less expensive batteries will be offered) just snaps in. It is the same with the mast and the electric foil wing, a few quick snaps and the board is together.

That brings the setup time down quite a bit to just a few minutes tops and makes assembly of the surfboard near the water so much easier.

That’s something else to consider. These electric surfboards can take the place of the much bigger, noisier, petroleum-powered jet skis for many uses. At a 30mph top speed, these can be used for around an hour and can fit in the trunk of a car rather than a trailer, which needs a boat dock. It’s a true game-changer in the world of personal water transportation.

Blowfish Accessory

Then consider the specialized inflatable “Blowfish” accessory (above) that not only makes training on a Lift eFoil easier but also opens up the platform for specialized activities like fishing, diving, and multiple-passenger travel. What’s great is that once you are on the Foil, the inflatable ring is out of the water and only affects the efficiency of travel slightly. Otherwise, it can operate like a little dingy boat and can be used to bring people back and forth from shore to bigger boats docked out at sea. Versatility is key here.

LIFT5

The LIFT5 represents a complete reimagining of eFoil technology, built from the ground up to enhance performance, user experience, and reliability. With a focus on surf-inspired innovation, the LIFT5 introduces:

  • All-New Design: A lighter, streamlined board featuring a double concave bottom for smooth touchdowns and sharper chine rails for crisp transitions.
  • Simplified Setup: Tool-free assembly with Lift Connect System (LCS) for effortless attachment of wings, mast, and propulsion.
  • Enhanced User Experience: Wireless connectivity, one-touch startup, and redesigned accessories like ergonomic board bags and a battery backpack.
  • Unmatched Safety: A robust double-walled battery with real-time monitoring, tilt detection, and water ingress prevention for maximum reliability.

“The LIFT5 is not just a progression, it’s a revolution,” said Nick Leason, Co-founder and CEO of Lift Foils. “We have taken everything we’ve learned over years of engineering, testing, and riding, and built the most refined eFoil yet. The LIFT5 is not only the quietest eFoil available, but it’s the first of its kind to come standard with a click-in battery, toolless and wireless assembly, and touch-free, integrated in-line cooling – an evolution of the liquid cooling technology we first introduced with the world’s first commercially available eFoil.”

LIFTX

There’s one more thing in this announcement, and with a nod to Apple’s naming, Lift also introduced the LiftX, which is a lighter, more professional sports board with a key retractable propeller technology that allows the rider to go from electric propulsion to wave/wind/pumping propulsion seamlessly. It is a true hybrid board.

The Lift foil surfboard experience (LiftX and Lift5)

As a background, I’ve never hydrofoiled in my life outside of the aforementioned boats. I have done some very basic surfing and skateboarding and am an avid snowboarder.

Lift first let us try out the Lift4 foil boards on a river with very little waves. Initially, they were outfitted with the blowfish attachment, which made the learning process more fun. Getting up on the board was super easy for my 50-year-old body, and I was standing on the Lift4 within minutes. From there, I experiemented with the speed controls that go from 0-15. At about 6 or 7, my 200lb body would start to lift the board out of the water and foil.

That experience is incredible. The bumping of the waves and the sound disappear almost entirely. You are floating above the water magically.

Interestingly, because the foil is so much more efficient, once you get out of the water, you not only speed up considerably, but you also require a lot less power to go the same speed. I was told that foiling takes half the energy of just cruising like a traditional board (and that is why you can ride on foils for so much longer than an electric surfboard or boat).

Foiling did take some getting used to but I did get up and stay up for quite some time on the river.

The next day we went onto the ocean using the new Lift5 boards and without the Blowfish. There was a steeper learning curve to get used to the changing dynamics. That said, I was able to get foiling within an hour of jumping on the Lift5. The challenge for me wasn’t turning necessarily but keeping the board flat in the water. Too much forward-leaning, and you’d push the front into the water. Leaning back too much and the foil pops out of the water in front of you. A little time is all one needs to figure out these dynamics.

I never got 100% stable in the 2 hours of training but I was so close. I will say this: I really wanted to play on these more and more as time ended. The foiling experience compared to riding on the waves is singular and I would say akin to the experience when sailing when you turn off the motors and just begin using the wind power. Magical.

Electrek’s take

What an experience! Lift’s whole vibe of being a proud Puerto Rican company building and developing its industry-leading products on the island just feels so right. The fact that the company is pushing this nascent industry forward is huge.

Sure, there are some drawbacks to foiling. The big price points – these new products are expected to retail for north of $12,000 – but also safety is a big concern. At 30mph top speed, these things are knifing through the water and could be dangerous to snorkelers or other swimmers in the area. Wildlife could also be impacted.

That said, Lift5 and LiftX represent huge innovations in the eFoil industry and coupled with accessories like Blowfish and leading edge controllers, snap-together assembly, and long-range integrated batteries, will make this the next big leap in the eFoil surfboard industry.

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Paris’ popular bike share program has a big sticky finger problem

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Paris' popular bike share program has a big sticky finger problem

Paris’ bike-share system, Vélib has long been considered one of the shining success stories of urban micromobility. With a massive fleet of over 20,000 pedal and electric-assist bicycles around Paris, the service has helped millions of residents and tourists get around the City of Light without needing a car or scooter. But lately, a growing problem is threatening to knock the wheels off this urban mobility marvel: theft and joyriding.

According to city officials and the service operator, more than 600 Vélib bikes are now going missing every single week. That’s over 30 bikes a day simply vanishing from the system – some stolen outright, others taken on “joy rides” and never returned.

“At the moment we’re missing 3,000 bikes,” explained Sylvain Raifaud, head of the Agemob company that currently operates the Velib system. That’s nearly 15% of over 20,000 Vélib bikes across Paris.

The sticky-fingered culprits aren’t necessarily professional thieves or organized crime rings. Instead, they’re often regular users who treat the shared bikes like disposable toys.

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The city estimates that many people have figured out how to pry the bikes out of the system’s parking docks, unlocking one for a casual cruise and then ditching it somewhere far from a docking station.

Once pried free, the bikes are technically usable for the next 24 hours until their automatic locking feature kicks in. At that point, the bikes are often simply abandoned. Some end up in alleyways. Others get tossed in rivers. A few just disappear completely.

And since the bikes are intended to be parked at their many docking stations around the city, they don’t have GPS chips, further complicating recovery of “liberated” bikes.

The issue started small but has grown into more than an inconvenience – it’s beginning to undermine the entire purpose of the service. With bikes going missing at such a high rate, many Vélib docking stations are left empty, especially during rush hours.

Riders looking for a quick commute or a convenient hop across town are increasingly finding themselves without available bikes, or having to walk long distances to find a functioning one.

That kind of unreliability chips away at user confidence and threatens to drive potential riders back into cars, cabs, or other less sustainable forms of transport at a time when Paris has already made great strides to dramatically reduce car usage in the city.

The losses are financially painful, too. Replacing stolen or vandalized bikes isn’t cheap, and the resources spent on tracking down missing equipment or reinforcing anti-theft measures are stretching thin. Vélib has faced theft and vandalism issues before, especially during its early years, but this latest surge has officials sounding the alarm with renewed urgency.

Officials acknowledge that there’s no easy fix. Paris, like many cities with bike-share systems, walks a fine line between accessibility and accountability. Part of what makes Vélib so successful is its ease of use and widespread availability. But those same features make it vulnerable to misuse – especially when enforcement is limited and the consequences for abuse are minimal.

The timing of the problem is especially unfortunate. In recent years, Paris has seen impressive results in reducing car traffic, expanding bike lanes, and promoting cycling as a key part of its sustainable transport strategy. Vélib is a cornerstone of that plan. But if the system becomes too unreliable, it risks losing the very people it was designed to serve.

Meanwhile, as Parisians increasingly find themselves staring at empty docks, the challenge for the city and Vélib will be to restore confidence in the system without making it harder to use. That means striking the right balance between freedom and responsibility, between open access and protection against abuse.

In a city where cycling is supposed to be the future of mobility, losing thousands of bikes to joyriders and sticky fingers isn’t just frustrating; it’s unsustainable.

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CNBC Daily Open: Elon Musk, founder of companies and political parties

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CNBC Daily Open: Elon Musk, founder of companies and political parties

U.S. President Donald Trump and Elon Musk attend a press event in the Oval Office of the White House in Washington, D.C., U.S., May 30, 2025.

Nathan Howard | Reuters

When they lose a significant other, most men do indeed become a “TRAIN WRECK.” Then they pick up the pieces of their lives and start living again — paying attention to their personal grooming, hitting the gym and discovering new hobbies.

What does the world’s richest man do? He starts a political party.

Last weekend, as the United States celebrated its independence from the British in 1776, Elon Musk enshrined his sovereignty from U.S. President Donald Trump by establishing the creatively named “American Party.”

Few details have been revealed, but Musk said the party will focus on “just 2 or 3 Senate seats and 8 to 10 House districts,” and will have legislative discussions “with both parties” — referring to the U.S. Democratic and Republican Parties.

It might be easier to realize Musk’s dream of colonizing Mars than to bridge the political aisle in the U.S. government today.

To be fair, some thought appeared to be behind the move. Musk decided to form the party after holding a poll on X in which 65.4% of respondents voted in favor.

Folks, here’s direct democracy — and the powerful post-separation motivation — in action.

 — CNBC’s Erin Doherty contributed to this report.

What you need to know today

And finally…

An investor sits in front of a board showing stock information at a brokerage office in Beijing, China.

Thomas Peter | Reuters

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CNBC Daily Open: Most people don’t start a political party after separation

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CNBC Daily Open: Most people don't start a political party after separation

US President Donald Trump, right, and Elon Musk, chief executive officer of Tesla Inc., during a news conference in the Oval Office of the White House in Washington, DC, US, on Friday, May 30, 2025.

Francis Chung | Bloomberg | Getty Images

When they find themselves without a significant other, most men finally start living: They pay attention to their personal grooming, hit the gym and discover new hobbies.

What does the world’s richest man do? He starts a political party.

Last weekend, as the United States celebrated its independence from the British in 1776, Elon Musk enshrined his sovereignty from U.S. President Donald Trump by establishing the creatively named “American Party.”

Few details have been revealed, but Musk said the party will focus on “just 2 or 3 Senate seats and 8 to 10 House districts,” and will have legislative discussions “with both parties” — referring to the U.S. Democratic and Republican Parties.

It might be easier to realize Musk’s dream of colonizing Mars than to bridge the political aisle in the U.S. government today.

To be fair, some thought appeared to be behind the move. Musk decided to form the party after holding a poll on X in which 65.4% of respondents voted in favor.

Folks, here’s direct democracy — and the powerful post-separation motivation — in action.

 — CNBC’s Erin Doherty contributed to this report.

What you need to know today

Trump confirms tariffs will kick in Aug. 1. That postpones the deadline by a month, but tariffs could “boomerang” back to April levels for countries without deals. Trump on Friday said letters with “take it or leave it” offers will go out to 12 countries Monday.

U.S. stock futures slipped Sunday. Despite the White House pushing back the return of “reciprocal” tariffs, some investors could be worried trade negotiations would result in higher-than-expected duties. Europe’s Stoxx 600 index dropped 0.48% Friday.

OPEC+ members to increase oil output. Eight members of the alliance agreed on Saturday to hike their collective crude production by 548,000 barrels per day, around 100,000 more than expected.

Elon Musk forms a new political party. On Saturday, the world’s richest man said he has formed a new U.S. political party named the “American Party,” which he claims will give Americans “back your freedom.”

[PRO] Wall Street is growing cautious on European equities. As investors seek shelter from tumult in U.S., the Stoxx 600 index has risen 6.6% year to date. Analysts, however, think the foundations of that growth could be shaky.

And finally…

Ayrton Senna driving the Marlboro McLaren during the Belgian Grand Prix in 1992.

Pascal Rondeau | Hulton Archive | Getty Images

The CEO mindset is shifting. It’s no longer all about winning

https://www.cnbc.com/2025/07/06/the-ceo-mindset-is-shifting-its-no-longer-all-about-winning.html

CEOs today aren’t just steering companies — they’re navigating a minefield. From geopolitical shocks and economic volatility to rapid shifts in tech and consumer behavior, the playbook for leadership is being rewritten in real time.

In an exclusive interview with CNBC earlier this week, McLaren Racing CEO Zak Brown outlined a leadership approach centered on urgency, momentum and learning from failure. 

— Spriha Srivastava

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