Hey guys, it's sasha, we have a lot to unpack today. The new york post just reported that palantir systems had a glitch that leaked fbi. Data palancia share priced it by four percent. So how serious is this glitch? Well we're going to talk about it.

Tesla is being investigated by the netser in the u.s senate, we're going to discuss how bad this may be for tesla's share price. What the implications are. Jerome powell, chair of the fed is apparently about to announce. Tapering of the federal reserve bond buying.

Analysts are concerned that inflation may be here to stay, so will this send the stock market plunging and lucid motors has just set a bunch of records on electric range and power we're going to be covering what this means for the stock. So a lot to go through so first up, let's talk about palantir, because this news broke yesterday afternoon, the new york post published an article with the title fbi: palantir glitch allowed unauthorized access to private data. That sounds pretty bad right. A data company leaking fbi data would be really bad news that could send the stock price down.

So what actually happened? Well, the problem here is that the new york post, which some people would argue, is a respectable publication, specifically lied in the title to get some clickbait views and it worked. It went all over social media. It was crazy and valencia share price immediately tanked. You can see it on the chart from yesterday.

You don't even have to look very far to see why this article is a blatant lie. Just reading the text below in that very article is enough. Apparently some fbi agents had access to data on the palantir system. About a case that they shouldn't have had access to and the reason for that.

Well, the prosecutor said that when the data is loaded onto the platform, the default setting is to permit access to the data to other fbi personnel, otherwise authorized to access the platform. So there was no glitch. There was no leak of the data. There was no data access by anyone who wasn't authorized some dumbass fbi agent, loaded data into the system and forgot to set restrictions and the right permissions on it, so that person obviously got it wrong.

So it was available as a result to other fbi agents on the same system. So the new york post took a basic case of user error and made it into a new story. It's a bit like somebody blaming google because they send rude drunken texts to their ex when they were on a night out from an android phone further down in the same article they actually quoted the panel here spokesman, saying there was no glitch in the software. Our platform has robust access and security controls.

The customer also has rigorous protocols established to protect search warrant returns, which in this case the end user did not follow so the new york post knew they were printing a completely false title, but did it anyway? Let's move on to tesla in the last few days there has been a giant bucket load of negative press poured all over tesla, it's kind of interesting how it all coincided. Now the national highway traffic safety administration, known as the nitzer, is investigating tesla, because there were a small number of cases of cars on autopilot that reportedly drove into parked emergency vehicles, and a group of us senators at the same exact time are pushing for an investigation By the ftc into tesla's autopilot and full self-driving technology, it's not looking good as a result, tesla's share price last week got hit really hard for a few days, but here is why this investigation is a giant pile of trash. For some reason, tesla systems are being compared to a theoretical, fully autonomous, perfect car and people are finding fault and saying that you know it's not as good as it could in theory, one day in the future be and they're blaming tesla. As a result, all of tesla's current driver assist technology requires the driver to be alert and pay attention at all times.

It says as much it controls whether drivers are actually paying attention, or you know some drivers trying to trick the system, but the driver always has to be there ready to take control when needed, just like with any other driver, assist system. If you're driving a car that is approaching emergency vehicles - and you happen to notice that the car is not slowing down, then you should slow down. If you don't, then clearly you're, not even looking at the road you're, not paying attention and i'm assuming that these emergency vehicles are going to be relatively straightforward to see now, tesla has apparently fixed whatever the software issue was through software this, but here's the real problem. Imagine that same driver was driving any other car, not a tesla, and used that car as a driver assist feature which, for example, would be just some form of cruise control or maybe adaptive cruise control.

If that driver paid as much attention to the road and was driving on cruise control, what would be the outcome, but for some reason, cruise control on every other car is not being investigated. Even though people crash, while driving on cruise control, literally thousands of times every single day now, there definitely seems to be an agenda here, especially with joey biden, refusing to invite tesla to a discussion about electric vehicles. It's not like they are the only company in the world that has actually mastered scale production of electric cars. Now, while all this is going on in the news, tesla has quietly been unloading.

Massive ships full of model y cars in europe. So it sounds like all the rumors of production issues over in the shanghai plant are not really as accurate as they are being reported and tesla is now confirming that they still expect the berlin factories to start production cars. The production of cars this year, not just this year, but in october this year, and that's only a few weeks away so that'll be a really interesting period as well. All right.

Let's move on to jerome powell tomorrow, jerome powell, chair of the federal reserve, is giving a speech in jackson hole. A lot of people thought that this would be the time when the fed will announce a tapering in his bond buying program, which has been largely printing money through this bond buying process, to prop up the u.s economy over the last 18 months. But as the delta variant is hitting the u.s economy harder than maybe some people predicted and with the outlook over the next few months, turning worse by quite a stretch than maybe people expected a few weeks ago, i am really not sure that that is going to Happen - i am not expecting anything of that magnitude happen in that speech. I don't actually even think it's going to be happening in september either we are seeing a massive erosion in confidence we if they are going to be announcing tapering too soon.

That can start a panic, driven inflationary spiral that the same fed will then find much harder to get out of now. Talking of inflation, some really important news. Just came out of south korea. The whole world is having the same issues largely with inflation rates rising, but countries not wanting to start increasing interest rates because of the ongoing concerns.

What was about what's going to happen with the pandemic? But today, south korea has raised their interest rates from 0.5 to 0.75 percent, and this is super important because they are the first major economy to take that step and the reason this is important is because everybody else will be watching this, and this may give the Push that central bankers in the us, uk and other countries needed to make this step now. They all know that they're gon na have to increase those rates. At some point, the question is: when so, will this move from south korea today started chain effect is definitely going to be a nervy few weeks, although the rate of inflation growth does look scary, we actually have two big reasons why i think it is not going To be as big of an issue, as some people fear, the first of these is that it may well actually be a transitory effect of this year, looking very different to last year in how countries are managing the response to the pandemic and as a result of How confident people are and how the economy is being affected? We also have the potential impact of the delta variant, which kind of sends things the other way and any other variants that might turn up. I don't know what the names of them going to be during the next few months going into the winter if these new variants result in increased restrictions once again in major economies.

If that causes further disruptions to supply chains, we could see another economic contraction of some form coming and if that is on the way, then raising interest rates too early may be a little premature. Okay, let's talk about lucid motors now, because some seriously exciting news has been coming out from lucid over the last few hours. Lucid has confirmed that they will be releasing two versions of their air dream edition. This is the first car that they're going to be selling to the public.

One will have more power, precisely 1111 horsepower, which the ceo has actually been hinting at. By holding up four fingers in recent photo ops and the other one will have more range. The company is expecting it to be over 500 miles when the official numbers are confirmed, and this is crucial, because these are record-breaking numbers, tesla's, most powerful car, the model s plaid has a 1020 horsepower and the long-range version of the model. S currently has a range of just 405 miles now.

Lucid has yet to actually deliver a single car, so there are a lot of hurdles for them to overcome if they want to get absolutely anywhere near tesla and get any slice of the market. But these are incredibly promising numbers, and these are real numbers. This week, lucid, let a journalist drive their car for the first time. This is the first time somebody drove the lucid car who is not a lucid employee, and that, i think, is a really important big thing.

Johnny lieberman, from motor trend drove a lucid air all the way, from los angeles to san francisco on one charge now peter rollinson, the ceo of lucid motors, drove another lucid air just behind him and they covered 409 miles worth of driving with a stop for lunch. In the in the middle, mostly at highway speeds, which is important because that also affects range johnny's car has still had 69 miles remaining, while peters had 107 left in the tank at the end and i'm guessing, the journalist was probably testing out a few more entertainment And other features on the way, but that is really incredible, because these are real world numbers and and after doing that, amount of driving, they then drove another 36 miles to lucas's hq near san francisco, which is, incidentally, just 15 minutes away from tesla's fremont factory. Now those dream edition cars are ridiculously expensive, they cost something like 170 000 and deliveries may still be weeks or maybe even months away. Maybe it'll be right at the end of this year, but it is looking like lucid will become the second new, fully electric manufacturer of real evs being sold and being driven on the road after tesla, and that should make for a really pretty exciting future.

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