Latest news with #US2
Sydney Morning Herald
18 hours ago
- Business
- Sydney Morning Herald
It's hard to admit, but we can all learn something from Elon Musk
This is not something I ever imagined I'd find myself saying, but I think we could all learn something from Elon Musk, particularly when it comes to money habits and ideology. I know, I know. At first glance, it's difficult to see what any of us normal people who pay mortgages, fly economy and budget for groceries each week have in common with the world's richest living individual, but stay with me. This week, Musk announced that after four months of serving as the unofficial BFF of President Donald Trump he is going to say goodbye to Washington and is stepping down from his role as a top government adviser. Like so many friendships between the mega-rich, it looks like the two have had an ideological falling out over … yep, you guessed it, money. As you'll no doubt remember, Musk has been a key fixture of the White House since Trump's return thanks to his role as the head of the Department of Government Efficiency (DOGE), where he and a bunch of young and extremely inexperienced tech bros (who called themselves 'Muskrats' due to their idolisation of the Tesla CEO) attempted to cut down on 'wasteful' government spending. This included things like slashing 300,000 government jobs and cutting funding to research programs aimed at raising US literacy rates in schools. When the Tesla CEO began talking about his plans for DOGE in October last year during the presidential campaign, Musk said the agency would be able to find 'at least $US2 trillion ($3.1 trillion)' in cuts – a third of the entire US federal budget – which he saw to be 'a target-rich environment for saving money'. Challenging ourselves is essential if we want to understand our reasons for spending or saving the way that we do, and to get better at it. By January, Musk had wound that estimate back, saying that $US2 trillion would be the 'best-case outcome', and that more likely, the cuts would be closer to the tune of half of that figure – $US1 trillion. This number, he said, would still be 'an epic outcome'. Now that he's on his way out, Musk is saying his final DOGE cuts figure is actually closer to $US175 billion (though audits suggest the true figure is far less than this). In terms of delivering Trump the 'savings' that were promised, it really is the Temu version showing up on his doorstep.
The Age
18 hours ago
- Business
- The Age
It's hard to admit, but we can all learn something from Elon Musk
This is not something I ever imagined I'd find myself saying, but I think we could all learn something from Elon Musk, particularly when it comes to money habits and ideology. I know, I know. At first glance, it's difficult to see what any of us normal people who pay mortgages, fly economy and budget for groceries each week have in common with the world's richest living individual, but stay with me. This week, Musk announced that after four months of serving as the unofficial BFF of President Donald Trump he is going to say goodbye to Washington and is stepping down from his role as a top government adviser. Like so many friendships between the mega-rich, it looks like the two have had an ideological falling out over … yep, you guessed it, money. As you'll no doubt remember, Musk has been a key fixture of the White House since Trump's return thanks to his role as the head of the Department of Government Efficiency (DOGE), where he and a bunch of young and extremely inexperienced tech bros (who called themselves 'Muskrats' due to their idolisation of the Tesla CEO) attempted to cut down on 'wasteful' government spending. This included things like slashing 300,000 government jobs and cutting funding to research programs aimed at raising US literacy rates in schools. When the Tesla CEO began talking about his plans for DOGE in October last year during the presidential campaign, Musk said the agency would be able to find 'at least $US2 trillion ($3.1 trillion)' in cuts – a third of the entire US federal budget – which he saw to be 'a target-rich environment for saving money'. Challenging ourselves is essential if we want to understand our reasons for spending or saving the way that we do, and to get better at it. By January, Musk had wound that estimate back, saying that $US2 trillion would be the 'best-case outcome', and that more likely, the cuts would be closer to the tune of half of that figure – $US1 trillion. This number, he said, would still be 'an epic outcome'. Now that he's on his way out, Musk is saying his final DOGE cuts figure is actually closer to $US175 billion (though audits suggest the true figure is far less than this). In terms of delivering Trump the 'savings' that were promised, it really is the Temu version showing up on his doorstep.
AU Financial Review
2 days ago
- Business
- AU Financial Review
Melbourne entrepreneur builds $3b gaming empire out of solitaire app
Melbourne entrepreneur Eyal Chameides traces the roots of his mobile gaming empire back to a simple theory: if he could build a game of solitaire that outshone the thousands of versions that already existed, then he could find enough users to attract a rush of advertising dollars. Chameides and his two co-founders not only proved the theory, they smashed it out of the park. Their business, Tripledot Studios, which started up in 2017, is already worth about $US2 billion ($3.1 billion)
The Advertiser
2 days ago
- Business
- The Advertiser
Trump hails Musk as he announces joint press conference
US President Donald Trump has praised Elon Musk and says he will hold a press conference with the tech billionaire, whose tenure in the administration ended. "This will be his last day, but not really, because he will, always, be with us, helping all the way," Trump said in a post on Truth Social. "Elon is terrific!" The president said the press conference will be held in the Oval Office on Friday. Musk announced he was stepping down from his White House stint on Wednesday, giving Tesla investors some succour after shares slumped this year in part due to the backlash to his support of Trump and right-wing parties in Europe. The billionaire spearheaded Trump's so-called Department of Government Efficiency(DOGE), charged with cutting federal spending. On Tuesday, Musk criticised the price tag of Republicans' tax and budget legislation making its way through Congress. In addition, he had recently pledged to spend less money on politics after he plunked down nearly $US300 million on Trump's presidential campaign and on other Republican candidates last year. A former DOGE staffer said without Musk in the Trump administration, his cost-cutting Department of Government Efficiency project is likely to sputter out. Software engineer Sahil Lavingia, who spent almost two months working for the group of pro-Musk technologists, said he expects DOGE to quickly "fizzle out." "It'll just die a whimper," Lavingia, who was fired from DOGE earlier this month, told Reuters. "So much of the appeal and allure was Elon." He said he expected DOGE staffers to "just stop showing up to work. It's like kids joining a startup that will go out of business in four months." That would cap a remarkable undoing for DOGE, which Musk initially vowed would cut $US2 trillion in federal spending. Instead, DOGE estimates its efforts have saved around $US175 billion so far and the group's tallies have been riddled with errors. Lavingia, the 32-year-old founder and CEO of creator platform Gumroad, said he was recruited by DOGE through a personal contact and joined the team in March. US President Donald Trump has praised Elon Musk and says he will hold a press conference with the tech billionaire, whose tenure in the administration ended. "This will be his last day, but not really, because he will, always, be with us, helping all the way," Trump said in a post on Truth Social. "Elon is terrific!" The president said the press conference will be held in the Oval Office on Friday. Musk announced he was stepping down from his White House stint on Wednesday, giving Tesla investors some succour after shares slumped this year in part due to the backlash to his support of Trump and right-wing parties in Europe. The billionaire spearheaded Trump's so-called Department of Government Efficiency(DOGE), charged with cutting federal spending. On Tuesday, Musk criticised the price tag of Republicans' tax and budget legislation making its way through Congress. In addition, he had recently pledged to spend less money on politics after he plunked down nearly $US300 million on Trump's presidential campaign and on other Republican candidates last year. A former DOGE staffer said without Musk in the Trump administration, his cost-cutting Department of Government Efficiency project is likely to sputter out. Software engineer Sahil Lavingia, who spent almost two months working for the group of pro-Musk technologists, said he expects DOGE to quickly "fizzle out." "It'll just die a whimper," Lavingia, who was fired from DOGE earlier this month, told Reuters. "So much of the appeal and allure was Elon." He said he expected DOGE staffers to "just stop showing up to work. It's like kids joining a startup that will go out of business in four months." That would cap a remarkable undoing for DOGE, which Musk initially vowed would cut $US2 trillion in federal spending. Instead, DOGE estimates its efforts have saved around $US175 billion so far and the group's tallies have been riddled with errors. Lavingia, the 32-year-old founder and CEO of creator platform Gumroad, said he was recruited by DOGE through a personal contact and joined the team in March. US President Donald Trump has praised Elon Musk and says he will hold a press conference with the tech billionaire, whose tenure in the administration ended. "This will be his last day, but not really, because he will, always, be with us, helping all the way," Trump said in a post on Truth Social. "Elon is terrific!" The president said the press conference will be held in the Oval Office on Friday. Musk announced he was stepping down from his White House stint on Wednesday, giving Tesla investors some succour after shares slumped this year in part due to the backlash to his support of Trump and right-wing parties in Europe. The billionaire spearheaded Trump's so-called Department of Government Efficiency(DOGE), charged with cutting federal spending. On Tuesday, Musk criticised the price tag of Republicans' tax and budget legislation making its way through Congress. In addition, he had recently pledged to spend less money on politics after he plunked down nearly $US300 million on Trump's presidential campaign and on other Republican candidates last year. A former DOGE staffer said without Musk in the Trump administration, his cost-cutting Department of Government Efficiency project is likely to sputter out. Software engineer Sahil Lavingia, who spent almost two months working for the group of pro-Musk technologists, said he expects DOGE to quickly "fizzle out." "It'll just die a whimper," Lavingia, who was fired from DOGE earlier this month, told Reuters. "So much of the appeal and allure was Elon." He said he expected DOGE staffers to "just stop showing up to work. It's like kids joining a startup that will go out of business in four months." That would cap a remarkable undoing for DOGE, which Musk initially vowed would cut $US2 trillion in federal spending. Instead, DOGE estimates its efforts have saved around $US175 billion so far and the group's tallies have been riddled with errors. Lavingia, the 32-year-old founder and CEO of creator platform Gumroad, said he was recruited by DOGE through a personal contact and joined the team in March. US President Donald Trump has praised Elon Musk and says he will hold a press conference with the tech billionaire, whose tenure in the administration ended. "This will be his last day, but not really, because he will, always, be with us, helping all the way," Trump said in a post on Truth Social. "Elon is terrific!" The president said the press conference will be held in the Oval Office on Friday. Musk announced he was stepping down from his White House stint on Wednesday, giving Tesla investors some succour after shares slumped this year in part due to the backlash to his support of Trump and right-wing parties in Europe. The billionaire spearheaded Trump's so-called Department of Government Efficiency(DOGE), charged with cutting federal spending. On Tuesday, Musk criticised the price tag of Republicans' tax and budget legislation making its way through Congress. In addition, he had recently pledged to spend less money on politics after he plunked down nearly $US300 million on Trump's presidential campaign and on other Republican candidates last year. A former DOGE staffer said without Musk in the Trump administration, his cost-cutting Department of Government Efficiency project is likely to sputter out. Software engineer Sahil Lavingia, who spent almost two months working for the group of pro-Musk technologists, said he expects DOGE to quickly "fizzle out." "It'll just die a whimper," Lavingia, who was fired from DOGE earlier this month, told Reuters. "So much of the appeal and allure was Elon." He said he expected DOGE staffers to "just stop showing up to work. It's like kids joining a startup that will go out of business in four months." That would cap a remarkable undoing for DOGE, which Musk initially vowed would cut $US2 trillion in federal spending. Instead, DOGE estimates its efforts have saved around $US175 billion so far and the group's tallies have been riddled with errors. Lavingia, the 32-year-old founder and CEO of creator platform Gumroad, said he was recruited by DOGE through a personal contact and joined the team in March.
Perth Now
2 days ago
- Business
- Perth Now
Trump hails Musk as he announces joint press conference
US President Donald Trump has praised Elon Musk and says he will hold a press conference with the tech billionaire, whose tenure in the administration ended. "This will be his last day, but not really, because he will, always, be with us, helping all the way," Trump said in a post on Truth Social. "Elon is terrific!" The president said the press conference will be held in the Oval Office on Friday. Musk announced he was stepping down from his White House stint on Wednesday, giving Tesla investors some succour after shares slumped this year in part due to the backlash to his support of Trump and right-wing parties in Europe. The billionaire spearheaded Trump's so-called Department of Government Efficiency(DOGE), charged with cutting federal spending. On Tuesday, Musk criticised the price tag of Republicans' tax and budget legislation making its way through Congress. In addition, he had recently pledged to spend less money on politics after he plunked down nearly $US300 million on Trump's presidential campaign and on other Republican candidates last year. A former DOGE staffer said without Musk in the Trump administration, his cost-cutting Department of Government Efficiency project is likely to sputter out. Software engineer Sahil Lavingia, who spent almost two months working for the group of pro-Musk technologists, said he expects DOGE to quickly "fizzle out." "It'll just die a whimper," Lavingia, who was fired from DOGE earlier this month, told Reuters. "So much of the appeal and allure was Elon." He said he expected DOGE staffers to "just stop showing up to work. It's like kids joining a startup that will go out of business in four months." That would cap a remarkable undoing for DOGE, which Musk initially vowed would cut $US2 trillion in federal spending. Instead, DOGE estimates its efforts have saved around $US175 billion so far and the group's tallies have been riddled with errors. Lavingia, the 32-year-old founder and CEO of creator platform Gumroad, said he was recruited by DOGE through a personal contact and joined the team in March.
