Amazon was revealed to be laying off 14,000 managers; Nvidia CEO Jensen Huang is worth more than Intel's market value, reaching $109.2 billion

编辑&整理|Steven Lee

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Consumer technology

Amazon was revealed to be laying off 14,000 managers, and according to a Morgan Stanley report cited by the media, Amazon plans to cut 14,000 management positions by early next year, saving about $3 billion a year. According to the report, the move is part of a strategy proposed by Amazon CEO Andy Jassy to improve operational efficiency by increasing the ratio of individual contributors to managers by at least 15% by March 2025. Jassy emphasized the importance of nurturing a culture characterized by a sense of urgency, responsibility, quick decision-making, resourcefulness, frugality, and collaboration, with the goal of positioning Amazon as the world's largest startup. The report also mentions that Jassy has launched a "bureaucratic whistleblowing hotline" that allows employees to report unnecessary procedures that hinder their work. Morgan Stanley estimates that the layoffs could reduce Amazon's global manager count from about 105,770 to about 91,936, as the estimated annual cost per manager is between $200,000 and $350,000, which could save $2.1 billion to $3.6 billion per year, or about 3% to 5% of Amazon's projected operating profit in 2025. Amazon acknowledged that it had recently expanded its management team, and that the company had not specified any clear plans for layoffs, the report said. The restructuring aims to streamline operations and minimize bureaucratic hurdles, with the potential to achieve the desired rate change through redistribution rather than outright layoffs. At the same time, Amazon also announced plans to require employees to return to the office full-time (five days a week) starting in January next year. Saudi Arabia's Public Investment Fund Considers Increasing Stake in Nintendo's Shares Shares Surged 3.9% on Monday after Saudi sovereign wealth fund executives said they were considering increasing their stakes in Japan gaming companies. According to Kyodo News, Saudi Arabia's Public Investment Fund (PIF) is considering pouring more money into Nintendo and its peers. The Saudi government is eager to shape the country as a player in the global gaming industry and diversify its portfolio to reduce its dependence on oil. The country is investing $38 billion in hopes of becoming the next hub of the video game industry and has been investing in content providers in Japan and Korea. According to data compiled by Bloomberg, PIF is already one of Nintendo's largest shareholders, with a stake of 8.6%. The fund has also made billions of dollars in investments in other gaming companies, including Tencent Holdings Ltd., Activision Blizzard, and Kakao Entertainment Corp. The real estate developer, backed by PIF, has also developed a theme park outside Riyadh featuring characters from the fictional world of the popular Japan manga and anime series Dragon Ball. Player-made mods make Black Myth: Wukong a first-person shooterDeveloped by Game Science, Black Myth: Wukong has attracted the attention of many players since its release, and its popularity has also made mod makers eager to try and add new elements to the game. RECENTLY, A PLAYER CREATED A FANCY MOD THAT TURNED THIS ACTION-ADVENTURE GAME INTO A FIRST-PERSON SHOOTER (FPS) GAME. The MOD demo video released by the user of station B f Bubu shows that the protagonist Destiny uses an assault rifle to engage in a fierce battle with the first boss in the game, Erlang Xiansheng Zhenjun. In the video, we can also see the player taking out various mobs from a distance, the mobs are strafed by a dense barrage of bullets and fall to the ground in an instant, and early bosses like Wraith are unable to withstand the attacks of AK-47. This MOD is quite well made, almost making it feel like the developers themselves have hidden AK-47 and first-person mode. Nvidia CEO Jensen Huang's personal worth exceeds Intel's market capitalization, reaching $109.2 billionNvidia CEO Jensen Huang's personal net worth now reaches $109.2 billion, surpassing Intel's market capitalization ($96 billion). With the AI boom and Nvidia's stellar performance as a leading maker of AI GPU accelerators, its stock price soared, even becoming the world's most valuable company at one point in June last year. While its share price has since recovered and is down about 10% from its all-time high, it still ranks among the top five companies in the world, behind tech giants such as Apple, Microsoft, Alphabet (Google) and Amazon. The rise in the stock price has also brought Huang a huge fortune, with more than 75 million shares of Nvidia stock directly owned and another 786 million shares held through various trusts and partnerships. Although he has cashed out more than $700 million this year by selling 6 million shares, this is a drop in the bucket compared to the total valuation of his Nvidia stock holdings. Huang's growing wealth has seen him jump to No. 11 on the Forbes Real-Time Rich List, just $20 billion shy of entering the top 10. Intel, on the other hand, has not had a good year and currently has a market capitalization of $96.39 billion. Its share price is $22.59 per share at the time of writing, less than half of its all-time high of $50 in late 2023. In early August, Intel's financial woes came to light, causing its market value to shrink by $39 billion overnight, and there were rumors that it could be excluded from the debut Jones Industrial Average due to a decline in market capitalization. Ministry of Industry and Information Technology: From January to August, the output of mobile phones in mainland China reached 1.015 billion units, a year-on-year increase of 8.8% According to media reports, the Ministry of Industry and Information Technology recently released the operation of the electronic information manufacturing industry from January to August 2024. Among them, from January to August, the added value of the electronic information manufacturing industry above designated size increased by 13.1% year-on-year, and the growth rate was 7.3 and 4.2 percentage points higher than that of the industrial and high-tech manufacturing industries in the same period, respectively. In August, the added value of the electronic information manufacturing industry above designated size increased by 11.3% year-on-year. According to the data, from January to August, the output of mobile phones in mainland China reached 1.015 billion units, a year-on-year increase of 8.8%, of which the output of smartphones was 751 million units, a year-on-year increase of 10.4%; the output of microcomputer equipment was 217 million units, a year-on-year increase of 2.9%; The output of integrated circuits was 284.5 billion, a year-on-year increase of 26.6%. In addition, the data also pointed out that from January to August, the cumulative export delivery value of the electronic information manufacturing industry above designated size increased by 1.2% year-on-year, an increase of 0.6 percentage points from January to July. In August, the export delivery value of the electronic information manufacturing industry above designated size increased by 3.4% year-on-year. According to China News Network, four days before this year's National Day holiday (October 1~4), the amount of Alipay consumption by inbound Chinese tourists increased by about 120% compared with the same period last year. In addition to "Beijing, Shanghai, Guangzhou, Shenzhen and Hangzhou" and other travel cities that inbound tourists have been keen on, during this year's National Day holiday, the top 10 cities where inbound tourists spent on Alipay compared with the same period last year include: Qinhuangdao City, Sanya City, Huzhou City, Jinhua City, Nanchang City, Haikou City, Chongqing City, Shenyang City, Changsha City, and Kunming City. As of 9 o'clock today, a total of 164 million tickets have been sold during the National Day Golden Week, and the national railway has ushered in the peak of return passenger flow, and as of 9 o'clock today, Railway 12306 has sold a total of 164 million tickets during the Golden Week transportation period. Judging from the pre-sale of 12306, the passenger flow of visiting relatives, students, and tourism is intertwined and superimposed, forming a peak of return passenger flow, and the contradiction between capacity and demand is prominent. According to the news, Apple has abandoned the development of smart rings, although it has been exploring internally for many years, according to the media, citing Bloomberg's Mark Gurman, Apple has abandoned the plan to develop smart rings. The decision was made after years of internal exploration of the concept, but ultimately Apple chose not to take it to fruition. Correspondingly, Apple's competitor - Samsung has launched the Galaxy Ring smart ring accessory, priced at 3099 yuan in China, the ring has built-in health sensors, which can monitor health indicators such as heart rate, stress levels, body and skin temperature, and can even predict women's menstrual cycles and ovulation through monitoring information, providing health management solutions for wearers. The media said that these features sound somewhat overlapping with the role of the Apple Watch, and the Apple Watch is a very successful product, whether Apple's launch of smart rings will affect the sales of the Apple Watch, this is a question that needs to be considered. In addition, the smart ring market is still relatively niche, and it is uncertain whether there will be enough demand to warrant Apple's entry.

sustainable development

The Xpeng P7+ will be unveiled on October 10, and the Xpeng P7+, positioned as the "world's first AI car", will make its debut at the 2024 Apsara Conference on October 10. According to the official introduction, the car is "the world's first AI car". It is reported that Xpeng Motors will participate in the 2024 Paris Motor Show, which will open on October 14, and it is expected that Xpeng P7+ is also expected to be unveiled at the Paris Motor Show. The Xpeng P7+ is the first model equipped with Xpeng's next-generation autonomous driving hardware platform, and is expected to be officially launched in the fourth quarter. The new car has previously been declared by the Ministry of Industry and Information Technology, and the internal code name is F57. In terms of power, according to the previous declaration information, the new car only has a single-motor version, with a maximum power of 180kW and 230kW respectively, a maximum speed of 200km/h, and a lithium iron phosphate battery pack for the battery. Mitsubishi celebrates the 100,000th electric mini vehicle off the assembly line Mitsubishi Motors announced that the cumulative production of the Mitsubishi eK X EV and the Nissan Sakura electric mini vehicle has reached a record 100,000 units. Production of the eK X EV and Nissan Sakura began at Mitsubishi Motors' Mizushima Plant in May 2022 and has achieved production of 100,000 units in approximately 2 years and 5 months. The eK X EV and Nissan Sakura were born from the expertise of Mitsubishi Motors and Nissan, both pioneers in the field of electric vehicles, which have won numerous automotive industry awards and are recognized as the ideal way to accelerate Japan's decarbonization. As a symbol of the successful partnership with Nissan, Mitsubishi Motors is committed to further improving the production quality of the eK X EV and Nissan Sakura so that more customers can experience these vehicles. Volkswagen ID.7 Pro S 794 km on a single charge Volkswagen Switzerland team drives the new all-electric ID.7 Pro S