LVMH Smashes Another European Record

The primary bull case for Tesla is that it’s not an automobile company but a technology one. Part of the reason it’s able to command such a high valuation relative to its peers is because of that technology’s potential business impact way down the line, especially as it introduces newer developments like artificial intelligence (AI).

However, that bull case is facing an unlikely opposition…from Elon Musk himself. 🤦

After ten years of research and development, Tim Apple is finally pulling the plug on Apple’s electric vehicle (EV) project. Because as we all know, EVs have lost their luster and given way to the business world’s new savior…artificial intelligence (AI). 😇

Bloomberg broke the news today, saying the tech giant disclosed the strategy shift internally and surprised the nearly 2,000 employees working on the project. Executives told staffers the project would begin winding down and that many of the car team’s employees would be shifted to its artificial intelligence division, focused on generative AI. 

Accounting is the practice of using numbers to tell the story of a company’s past, present, and future. For an investor, these numbers and stories are the foundation of all decisions, so it’s imperative that they’re done correctly. And generally, they are.

But lately, there’s been an uptick in the number of accounting mishaps making their way into the financial markets. Today we got a few more instances of this problem, so let’s take a look. 📝