Prediction #3 — 2018 foreign profit repatriation is a $591.8 BILLION taxpayer ripoff

When I started this series of 2018 predictions I said the recently passed U.S. tax law was going to have a profound impact on upcoming events. Having had a chance to look closer at the issue I am even more convinced that this seismic financial event is, as I wrote above, a $591.8 billion taxpayer ripoff. This is not to say there aren’t some possible public benefits from the repatriation, but it’s fairly clear that the public loses more than it will ever gain.

In case you don’t follow these things, multinational U.S. companies have, since 2005, squirreled away about $2.5 TRILLION in profits overseas because U.S. tax law […]

The Robots are Coming!

Elon Musk thinks he can increase the speed of his Tesla production line in Fremont, California by 20X. I find this an astonishing concept, but Musk not only owns a car company, he also owns the company that makes the robots used in his car factory. So who am I to say he’s wrong? And if he’s right, well then the implications for everything from manufacturing to the economy to geopolitics to ICBM targeting to your retirement and mine are profound. We may be in trouble or maybe we’re not, but either way it’s going to be an interesting ride.

My friend Jerry Kew from the UK brought this […]

How to Get Rich Trading Bitcoin

Bitcoin_accepted_hereAs an observer of the Bitcoin market as long as this original cryptocurrency has existed, it never made much sense to me from an investment perspective. Bitcoin prices were too volatile and the volatility seemed too random. Volatility can be a good thing for traders, mind you, but only if you think you have an idea why the price goes up and down the way it does. Otherwise it is just a good way to lose all your money. But a couple of recent events have changed my view of Bitcoin. I now think I can explain its volatility and predict it well enough for profitable trading. And the best part is […]

The self-driving car is old enough to drink and drive

RCAdriverlessTwenty-one years ago, when we were shooting Triumph of the Nerds, the director, Paul Sen, introduced me to his cousin who was working at the time on a big Department of Transportation research program to build self-driving cars. Twenty-one years ago! Yet what goes around comes around and today there is nothing fresher than autonomous cars, artificial intelligence. You know, old stuff.

As you can see from this picture, driverless cars were tested by RCA and General Motors decades earlier, back in the 1950s.

What changed from 1995 until today in my view comes down to three major things: 1) 21 years of cumulative automotive research; 2) demographic changes that might […]

Remembering Brentrance (not Brexit) and Steve Jobs returns to Netflix

HeathBritons are today voting whether to remain a part of the European Union, their so-called Brexit referendum. Watching the coverage on television makes me recall a night back in 1973 when I stood in a crowd outside the Houses of Parliament while inside the chamber was being held the vote that made the UK part of what was called back then the Common Market. If today’s vote is for Brexit, that night 43 years ago was the Brentrance.

It wasn’t clear that night which way the vote would go. The Tory government of Prime Minister Edward Heath was all for the Common Market and so that’s how the vote went sometime before midnight. The […]