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Uber and Lyft almost shut down their services due to California’s anti-freelancer law

Economically, speaking there are a few possibilities that will come out requiring gig companies like Uber to classifying drivers as employees. Either a lot of drivers will go out of job if Lyft and Uber decides to cut their workforce. Uber and Lyft will raise prices for consumers. Or worse yet Uber and Lyft will shut down services altogether. And if employment and prices are to stay the same, drivers will make less money and so will Uber and Lyft. Essentially, in the long run, in one way or another, enforcing AB5 will result in a gigantic loss for the...

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Jeff Bezos’ wealth grew because people were using Amazon much more than usual during the pandemic

Senator Bernie Sanders wants to impose a 60% tax on the wealth that billionaires made during the duration of the pandemic. But setting aside the damaging impacts of wealth taxation, and all the other issues regarding the feasibility and sustainability of imposing a wealth tax to pay for government programs, statements implying that big corporations took advantage of the coronavirus pandemic are simply untrue. During the coronavirus, people shifted to online shopping. Amazon and other corporations like Walmart happened to be well-positioned to satisfy this surge in online demand for goods and services. It does not take a lot of math...

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Xcel Energy warns of possible power outages similar to South Australia due to growing renewable presence

Buried within Xcel Energy’s latest resource planning documents lies a dire warning about the rapidly growing presence of wind and solar energy sources on Minnesota’s electrical grid. [Appendix J of the document]. According to the state’s largest electric utility company, Minnesota’s race to dismantle large power facilities - like coal facilities such as Sherco and AS King, and even some hoping for the toppling of the state's two carbon-free nuclear facilities - in favor of intermittent renewable energy sources like wind and solar is creating conditions more susceptible to state-wide power outages. Xcel warns that the growing presence of remote energy sources like wind and...

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