Posts Tagged: huge

Peloton’s huge loss highlights how hard it’ll be to turn things around

Peloton has posted a heavy quarterly loss for the first quarter, indicating that it has a lot of work to do in order to correct course. The company made a net loss of $ 757.1 million in the first three months of the year (Q3 of Peloton's 2022 fiscal year). Not only was that a worse result than expected, it's a massive decrease from the $ 8.6 million loss it posted for the same period in 2021.

Revenue dropped from $ 1.262 billion a year ago to $ 964 million. Operating expenses, meanwhile, grew by 101 percent year-over year to $ 920 million. Peloton says those represented 95.4 percent of total revenue for the quarter, compared with 36.3 percent a year earlier.

One of the company's biggest challenges has been handling its stockpile of connected fitness equipment in the wake of a sales decline as more people return to office life. "We have too much [inventory] for the current run rate of the business, and that inventory has consumed an enormous amount of cash, more than we expected, which has caused us to rethink our capital structure," CEO Barry McCarthy, who took on the job in February, wrote in a letter to shareholders. "We believe the inventory will sell eventually, so this is primarily a cash flow timing issue, not a structural issue."

Around the time McCarthy was appointed, Peloton announced it would cut 2,800 jobs, or around 20 percent of the corporate workforce. Rumors swirled in February that the company was an acquisition target for several suitors, with the likes of Amazon and Nike said to be interested.

Although it won't be easy for the company to get back on track, Peloton at least has a plan to turn things around. It aims to return to positive free cash flow in its 2023 fiscal year.

Last month, it announced an upcoming increase to subscriptions along with price cuts for many of its connected fitness machines. There are several reasons why Peloton is banking more heavily on subscriptions. For one, subscription revenues rose by 55 percent year-over-year to $ 369.9 million. The company now has 7 million members, and McCarthy has a long-term goal of reaching 100 million. "Our users are highly engaged, and our subscriber churn rate is less than 1 percent, which is the best I’ve seen," McCarthy, a former Netflix and Spotify executive, said.

McCarthy said the pricing changes could help the company deliver "roughly $ 40 million of incremental revenue monthly." The increased cost of the All-Access plan doesn't kick in until June 1st, but McCarthy says there's only been a small increase in user attrition and the move will generate an extra $ 14 million in revenue each month if that level of churn holds.

Cutting prices on some hardware models has led to a 69 percent increase in daily unit sales too. So far, that move has increased revenue by $ 25 million per month. The company also plans to keep testing a program that will combine an All-Access subscription plan with rentals of its equipment.

McCarthy noted that Peloton is revamping its workforce as it shifts from a hardware- to a software-focused company. The recent job cuts factor into the company's plan to increase annual run-rate savings to at least $ 800 million by its 2024 fiscal year. It also signed a binding commitment letter to borrow $ 750 million in five-year term debt from JP Morgan and Goldman Sachs.

Meanwhile, Peloton says more than half a million users have tried Lanebreak, its first gamified workout, on Bike and Bike+. The company expects to lean "more into gaming content in response to the success of Lanebreak."

Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics

Hitting the Books: The mad science behind digging really huge holes

Sure you could replace the President with a self-aware roboclone, take the moon hostage, threaten to release a millennia-old Eldritch horror to wreak unspeakable terror upon the populace, or just blew up a few financial servers in your pursuit of global dominion, but a savvy supervillain knows that the true path to power is through holes — the deeper, the better. 

In the excerpt below from his newest book, author Ryan North spelunks into the issues surrounding extreme mining and how the same principles that brought us the Kola Superdeep Borehole could be leveraged to dominate humanity, or turn a tidy profit. And, if you're not digging the whole hole scheme, How to Take Over the World has designs for every wannabe Brain, from pulling the internet's proverbial plug to bioengineering a dinosaur army — even achieving immortality if the first few plans fail to pan out.

How to Take Over the World cover
Riverhead Books

From HOW TO TAKE OVER THE WORLD: Practical Schemes and Scientific Solutions for the Aspiring Supervillain by Ryan North published on March 15, 2022 by Riverhead, an imprint of Penguin Publishing Group, a division of Penguin Random House LLC. Copyright © 2022 Ryan North.


The world’s deepest hole, as of this writing, is the now-­abandoned Kola Superdeep Borehole, located on the Kola Peninsula in Russia, north of the Arctic Circle. It’s a hole 23 centimeters (cm) in diameter, and it was started in May 1970 with a target depth of 15,000m. By 1989, Soviet scientists had reached a depth of 12,262m, but they found they were unable to make further progress due to a few related issues. The first was that temperatures were increasing faster than they’d expected. They’d expected to encounter temperatures of around 100°C at that depth but encountered 180°C heat instead, which was damaging their equipment. That, combined with the type of rock found and the pressure at those depths, was causing the rock to behave in a way that was almost plastic. Whenever the drill bit was removed for maintenance or repair, rocks would move into the hole to fill it. Attempts to dig deeper were made for years, but no hole ever made it farther than 12,262m, and the scientists were forced to conclude that there was simply no technology available at the time that could push any deeper. The Soviet Union dissolved in 1991 in an unrelated event, drilling stopped in 1992, the site was shut down, and the surface-­level opening to the hole was welded closed in 1995. Today, the drill site is an abandoned and crumbling ruin, and that still-­world-record-­holding maximum depth, 12,262m, is less than 0.2% of the way to the Earth’s center, some 6,371 km below.

So, that’s a concern.

But that was back in the ’90s, and we humans have continued to dig holes since! The International Ocean Discovery Program (IODP) has a plan to dig through the thinner oceanic crust, hoping to break through to the mantle and recover the first sample of it taken in place — but this project, estimated to cost $ 1 billion USD, has not yet been successful. Still, a ship built for the project, the Chikyū, has briefly held the world record for deepest oceanic hole (7,740m below sea level!), until it was surpassed by the Deepwater Horizon drilling rig, which dug a hole 10,683m below sea level and then exploded.

The evidence here all points to one depressing conclusion: the deepest holes humanity has ever made don’t go nearly far enough, and they’ve already reached the point where things get too hot — and too plastic — to continue.

But these holes were all dug not by supervillains chasing lost gold but by scientists, a group largely constrained by their “ethical principles” and “socially accepted morals.” To a supervillain, the solution here is obvious. If the problem is that the rocks are so hot that they’re damaging equipment and flowing into the hole, why not simply make a hole wide enough that some slight movement isn’t catastrophic, and cool enough so the rocks are all hardened into place? Why not simply abandon the tiny, 23cm-­diameter boreholes of the Soviets and the similarly sized drill holes of the IODP, and instead think of something bigger? Something bolder?

Something like a colossal open-­pit mine?

Such a mine would minimize the effects of rocks shifting by giving them a lot more room to shift — and us a lot more time to react — before they become a problem. You could keep those rocks cool and rigid with one of the most convenient coolants we have: cold liquid water. On contact with hot rocks or magma, water turns to steam, carrying that heat up and away into the atmosphere, where it can disperse naturally — while at the same time cooling the rocks so that they remain both solid enough to drill and rigid enough to stay in place. It would take an incredible amount of water, but lucky for us, Earth’s surface is 71% covered with the stuff!

So if you build a sufficiently large open-­pit mine next to the ocean and use a dam to allow water to flow into the pit to cool the rocks as needed, then you’ll be the proud owner of a mine that allows you to reach greater depths, both literal and metaphorical, than anyone else in history! This scheme has the added benefit that, if we’re clever, we can use the steam that’s generated by cooling all that hot rock and magma to spin turbines, which could then generate more power for drilling. You’ll build a steam engine that’s powered by the primordial and nigh-inexhaustible heat of the Earth herself.

The exact dimensions of open-­pit mines vary depending on what’s being mined, but they’re all shaped like irregular cones, with the biggest part at ground level and the smallest part at the bottom of the pit. The open-­pit mine that’s both the world’s largest and deepest is the Bingham Canyon copper mine in Utah: it’s been in use since 1906, and in that time it has produced a hole in the Earth’s crust that’s 4km wide and 1.2km deep. Using those dimensions as a rough guide produces the following chart:

How to take over the world
Penguin Randomhouse

… and here we have another problem. Just reaching the bottom of the crust needs a hole over five times the length of the island of Manhattan, dozens of times wider than any other hole made by humanity, and easily large enough to be seen from space. Reaching the bottom of the lower mantle would require a hole so huge that its opening would encompass 75% of the Earth’s diameter, and to do the same with the outer and inner cores requires holes that are wider than the Earth itself.

Even if you could turn almost half the Earth into an open-­pit mine cooled by seawater, the steam created by cooling a pit that size would effectively boil the oceans and turn the Earth into a sauna, destroying the climate, collapsing food chains, and threatening all life on the planet — and that’s before you even reach the hostage-­taking phase, let alone the part where you plunder forbidden gold! Things get even bleaker once you take into account the responses from the governments you’d upset by turning their countries into hole; the almost inconceivable amount of time, energy, and money required to move that much matter; where you’d put all that rock once you dug it up; or the true, objective inability for anyone, no matter how well funded, ambitious, or self-­realized, to possibly dig a hole this huge.

So.

That’s another concern.

It pains me to say this, but… there is absolutely no way, given current technology, for anyone to dig a hole to the center of the Earth no matter how well funded they are, even if they drain the world’s oceans in the attempt. We have reached the point where your ambition has outpaced even my wildest plans, most villainous schemes, and more importantly strongest and most heat-­resistant materials. Heck, we’re actually closer to immortal humans (see Chapter 8) than we are to tunneling to the Earth’s core. It’s unachievable. Impossible. There’s simply no way forward.

It’s truly, truly hopeless. It’s hard for me to admit it, but even the maddest science can’t realize every ambition.

I’m sorry. There’s nothing more I can do.

. . . for that plan, anyway!

But every good villain always has a Plan B, one that snatches victory from the jaws of defeat. And heck, if you’ve got your heart set on digging a hole, making some demands, and becoming richer than Midas and Gates and Luthor in the process—who am I to stop you?

You’re going to sidestep the issues of heat and pressure in the Earth’s core by staying safely inside the crust, within the depth range of holes we already know how to dig. And you’re going to sidestep the issues of legality that tend to surround schemes to take the Earth’s core hostage by instead legally selling access to your hole to large corporations and the megarich, who will happily pay through their noses for the privilege. Why?

Because instead of digging down, you’re going to dig sideways. Instead of mining gold, you’re going to mine information. And unlike even the lost gold of the Earth’s core, this mine is practically inexhaustible.

It all has to do with stock trading. In the mid-­twentieth century, stock exchanges had trading floors, which were actual, physical floors where offers to buy and sell were shouted, out loud, to other traders. It was noisy and chaotic, but it ensured everyone on the trading floor had, in theory, equal access to the same information. Those floor traders were later supplemented by telephone trading, and then almost entirely replaced by electronic trading, which is how most stock exchanges operate today. At the time, both telephone and electronic trading could be pitched as simply a higher-­tech version of the same floor trading that already existed, but they also did something more subtle: they moved trading from the trading floor to outside the exchanges themselves, where everyone might not have access to the same information.

Turns out, there’s money to be made from that.

Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics

The Samsung Galaxy Watch 3 Just Got a HUGE Price Cut at Amazon

If you’re in the market for a smartwatch, we’re excited to tell you that you can pick up the Samsung Galaxy Watch 3 on Amazon at a massive discount.
Wearables | Digital Trends

After a huge change of heart, the US will allow US companies to work with Huawei on 5G standards

The US and Huawei have had an insane saga of trade bans, negotiations, and legal proceedings this past year. It’s been one of the most widely reported feuds ever between two entities, and at this point you have to assume there’s just too much bad blood to really work anything out. Except now it turns […]

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Xiaomi’s 2019 financial report is in, signals huge growth

Xiaomi published its 2019 financial report. Even with plenty of hurdles in 2019, the company is reporting significant growth. Yearly revenue came in at CNY 205.8 billion — (USD $ 29 billion) — marking the first time that Xiaomi has passed the 200 billion milestone. Revenue is great — it means the company is doing more […]

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Xiaomi makes the Redmi Note 9 Pro and Pro Max official, packing quad cameras and huge batteries

Xiaomi’s Redmi Note line of budget-friendly phones has just gotten a pretty serious upgrade, delivering great hardware at an affordable price. As usual, these phones are geared at the price-conscious Indian market, but both of them look like some pretty great options for anyone in the market for upgrades. Redmi Note 9 Pro Max announced […]

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Redmi Note 7 is official with a huge 48MP camera, 6.3-inch Full HD display and 4,000mAh battery

Known for producing budget-conscious handsets for Xiaomi in previous years, Redmi has officially launched its very first handset as an independent entity. The newly announced Redmi Note 7 features a metal and glass design, along with a 6.3-inch display, a massive 48MP rear camera, and a big 4,000mAh battery.  Besides being the first phone to be […]

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Millions of dollars stolen in huge ad scam using Android apps

Hundreds of millions of dollars have been stolen through a fraudulent advertising network comprised of over 125 Android apps and websites. A report from BuzzFeed exposed the scheme in which scammers from “We Purchase Apps” took possession of established apps from developers and transferred them to front and shell companies in Cyprus, Malta, British Virgin Islands, […]

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Pocket Casts is getting a huge Material re-Design very soon

Google has big plans for podcasts soon, but that doesn’t mean you have to abandon your third-party apps. Pocket Casts is still by far one of the most popular options, and with good reason. But you know what would make it just a bit better? A slick new Material Design interface. One of Google’s partner […]

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Vizio is filing a huge $100 million lawsuit against a flailing LeEco

LeEco is going out with a bang, not a whimper. After trying and failing to acquire Vizio, the company started tumbling downhill in the financial department pretty quickly. We’ve seen desperate financing attempts, layoffs, and all kinds of other moves that paint a pretty clear picture that LeEco is in deep trouble. To make matters […]

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Small text won’t be an issue with Virgin Media’s huge 14-inch TellyTablet

British company Virgin Media unveiled the TellyTablet, an Android tablet equipped with a huge 14-inch display. The company positions the tablet as a “personal” smart TV that has access to Google Play.

The post Small text won’t be an issue with Virgin Media’s huge 14-inch TellyTablet appeared first on Digital Trends.

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[TA Deals] Don’t miss out on this huge sale for the Comprehensive Android Development Bundle

Want to learn how to build Android applications, but have no idea where to start? Then you might want to check out the Comprehensive Android Development Bundle from our online store. In it, you’re going to learn everything from Android 4.4 KitKat to Android 6.0 Marshmallow. Not only that, but you’ll learn some advanced techniques […]

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Uber just lost a huge case — U.K. drivers now considered workers

In a court case that may have ramifications in the U.S., U.K. Uber drivers are now considered workers entitled to minimum wage and paid time off. Uber said it will appeal, stating the majority of its drivers prefer to be self-employed.

The post Uber just lost a huge case — U.K. drivers now considered workers appeared first on Digital Trends.

Mobile–Digital Trends

This crazy inventor just built – and tried out – a huge 360-degree swing in his yard

Briton Colin Furze has made a name for himself in recent years inventing crazy contraptions and putting them on YouTube. His latest work? A swing taller than his house that turns all the way around. With him on it.

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Lenovo’s Vibe P1 and P1m handsets to launch in India on October 21st with huge batteries in tow

lenovo_logo_2015_sign_1_TA

Some manufacturers follow the strategy of slimming down the handset’s battery to make the device as thin as possible, often, seemingly, to the detriment of the user experience. Lenovo is bucking that trend, though, with its Vibe P1 and Vibe P1m handsets sporting batteries with capacities of 5,000mAh and 4,000mAh respectively. According to a media invite sent out earlier, Lenovo is launching both handsets in India on October 21st.

Lenovo_VIBE_P1_Front_Back_Side

Let’s take a look at the larger of the two handsets first, the Vibe P1. Lenovo has bundled in features such as Rocket Charge, which seems to be very much like Qualcomm’s Quick Charge 2.0 technology, delivering 2.8 hours of talk-time for just 5 minutes of charge. There’s also a physical switch that enables the OneKey Power Saver function, extending battery life. The Vibe P1 will launch in India for around Rs. 17,500 ($ 270) on October 21st.

  • Android 5.1 Lollipop with Vibe UI
  • 5.5-Inch Full LD IPS display (Gorilla Glass 3)
  • Snapdragon 615 Octa-core processor @ 1.5GHz (64-bit)
  • 2GB RAM
  • 32GB Internal storage
  • MicroSD card support (up to 128GB)
  • 13MP Rear camera with dual-focus and dual LED flash
  • 5MP Front camera
  • Fingerprint sensor built-in to the Home button
  • Dual-SIM standby
  • 4G/LTE
  • Bluetooth 4.1 LE/ NFC/WiFi 802.11 b/g/n/ac
  • Battery: 5,000mAh (non-removable)
  • Dimensions: 152.9 75.6 x 9.9mm
  • Weight: 189 grams
  • Available in Platinum or Graphite Grey.

 

Lenovo_VIBE-P1m

On to the mini version of the Vibe P1, if you will, the 5-inch Vibe P1m, and here we see a more budget-friendly offering from Lenovo. The Vibe P1m doesn’t have NFC connectivity, bit it does apparently have a nano-coating to help it withstand accidental spills, as well the physical OneKey Power Saver switch, which helps extend battery life. Check out the rest of the specifications below.

  • Android 5.1 lollipop with Vibe UI
  • 5-Inch IPS display with 1280 x 720 resolution
  • MediaTek MT6735P quad-core processor @ 1.0GHz
  • 2GB RAM
  • 16GB Internal storage
  • MicroSD card support (up to 32GB)
  •  8MP Rear camera with autofocus and LED flash
  • 5MP Front camera
  • Dual-SIM support with 4G/LTE connectivity
  • Bluetooth 4.1 LE/ WiFi/ GPS/GPS-A
  • Battery: 4,000mAh (non-removable)
  • Dimensions: 141 x 71.8 x 9.3mm
  • Weight: 148 grams
  • Available in Onyx Black and Pearl White

The Vibe P1m will launch in India on October 21st, with a price tag of around Rs. 10,000 ($ 154). What do you think of Lenovo’s Vibe P1 and P1m handsets? Have they been priced keenly enough for India’s congested smartphone market?

 

Source: Phone Radar

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Android News, Rumours, and Updates

Fallout Shelter gets a huge update, hits Android

Fallout Shelter is a runaway hit on iOS, and the game is now available on Android along with a massive update. New enemies to kill your Vault Dwellers and a free robot butler are some of the biggest additions.

The post Fallout Shelter gets a huge update, hits Android appeared first on Digital Trends.

Android Army»Digital Trends

Is Apple plotting a huge event for Sept. 9?

Unofficial reports say September 9 is the date that Apple has chosen to show off this year’s batch of iPhones — and iPads and a brand new Apple TV are said to be arriving at the same time.

The post Is Apple plotting a huge event for Sept. 9? appeared first on Digital Trends.

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