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Can the grid support EVs’ rise?
August 07, 2023

Tech Brew

Virtuix

It’s Monday. Feel confident in your tech knowledge and less confident in your ability to craft an effective business plan? We get it—and it’s exactly why we created our newest course, Strategic Planning. Stay on top of more than just tech trends and learn to plan for the weeks, months, or years ahead with purpose. Kickoff is August 14—reserve your seat today!

In today’s edition:

Patrick Kulp, Annie Saunders

CLIMATE

Grids, unlocked

Electric Vehicle drawing electricity from power lines Francis Scialabba

With data predicting a coming jump in the number of electric vehicles on the road in New York State, the New York Power Authority has been scrambling to dot the state’s highways with new fast-charging stations, according to John Markowitz, senior director of e-mobility at the state agency.

But the effort has faced its share of roadblocks, including power grid infrastructure that’s not always up to the task, Markowitz said.

“When we first launched the program, it was really hard to even find a place to put [fast chargers], because they just use a lot of power,” Markowitz told Tech Brew. “We knew where we wanted them to be on the interstates…but sometimes that dot on the map is in an area where the power grid just can’t take that kind of power.”

That is just one of many coordination difficulties that utilities, regulators, and tech companies across the country are facing as they rush to bolster the nation’s energy infrastructure for a pending boom in EV adoption.

Keep reading here.—PK

     

TOGETHER WITH VIRTUIX

The explosive gaming industry’s next big leader?

Virtuix

Wanna hear something crazy?

The $195b video game industry is 3–4x bigger than the sports, music, and movie industries combined.

So when Virtuix delivered the ultimate gaming experience—an omni-directional treadmill that lets players walk and run 360 degrees inside video games—investors started lining up.

Investors like Mark Cuban and Scout Ventures, to be exact. And now you have the chance to join them.

Virtuix is ready to scale massively by bringing their tech to the home. Their 35k-person waitlist alone is a potential $100m opportunity.

You can become a Virtuix shareholder too, but hurry, the opportunity ends in just 3 days (Aug. 10), and they’ve nearly reached their funding target. Invest today.

AI

Risky business

Person in a suit walking a tightrope over treacherous AI code Francis Scialabba

Companies have rushed headlong into adopting the latest AI tools with little preparation for the risks such technology might pose.

That was one of the takeaways from a McKinsey survey this week that examined the state of generative AI tech since ChatGPT first kicked off a frenzy around large language models late last year.

The consultancy polled 1,684 respondents across different businesses, regions, and industries. Around a third said their organization uses generative AI regularly in at least one area, and 22% said they routinely interact with it at work.

Yet just 21% of those who reported using AI at work said their employers have put policies in place for how employees use AI. And only 32% said their company was working to mitigate the risk of inaccurate information, while 38% said their organization was taking steps to deal with cybersecurity threats.

The report authors said the failure to address risks around AI has been a consistent trend in its reports on the state of AI adoption among businesses.

Keep reading here.—PK

     

READER SPOTLIGHT

Coworking with Tony Tiscornia

Graphic featuring a headshot of Coupa CFO Tony Tiscornia Tony Tiscornia

Coworking is a weekly segment where we spotlight Tech Brew readers who work with emerging technologies. Click here if you’d like a chance to be featured.

How would you describe your job to someone who doesn’t work in tech?

CFOs work closely with the leaders managing all the different functions in a business, with a focus on planning, forecasting, strategy, and many other areas. At Coupa, I oversee all financial responsibilities for the business, including capital position and financing, capital allocation and investments, financial operations, and reporting and investor relations.

But the job is more than just numbers and reporting. What I love most is using financial data to tell a story—whether it’s to help my teams make smarter, data-driven decisions for the business or to contextualize our financials for the investor community. I also interact with Coupa customers and prospects, many of which include CFOs, to help them understand the value they can glean from our business spend management platform.

Keep reading here.

     

BITS AND BYTES

Stat: 3.6%. That’s how much Apple’s stock price dropped on Friday, nudging it below $3 trillion in market cap, Bloomberg reported.

Quote: “This isn’t fixable…It’s inherent in the mismatch between the technology and the proposed use cases.”—Emily Bender, director of the University of Washington’s Computational Linguistics Laboratory, to the Associated Press in a story about AI’s tendency to “hallucinate”

Read: The chip titan whose life’s work is at the center of a tech cold war (the New York Times)

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Written by Patrick Kulp, Annie Saunders, and Jordan McDonald

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