Technology and Science

Elon Musk To Step Back From Tesla And SpaceX, Jumps on Quantum Computing Financial Tech

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Real life ironman – Elon Musk, has finally announced why he’s stepped back from Tesla and SpaceX, his most beloved companies. His new venture, called Quantum AI has seen invest over 2 billion dollars in just the past 2 years – to develop and code Quantum AI

Before we go into the details of what Quantum AI is, let’s talk about who Elon Musk is. Elon Musk is a visionary. Some call him the smartest entrepreneur of our century. He believes in renewable energy, living in Mars, and pushing the envelope of what’s possible. Although his ideas often seem too radical and impossible to many people, Elon is proving them wrong year after year. He has made it his agenda to make the world greener and bring humankind to new possibilities. Some of his ventures include PayPal, Tesla, Boring Company and now OpenAI.

But now, Elon has decided to partly withdraw from running Tesla and SpaceX, in order to focus on his new venture in the financial sector. That’s why he’s acquired Quantum AI.

What exactly is Quantum AI ? Quantum AI is an upgrade from computers as you know them. In fact, Elon beat IBM, Microsoft and few others who have been developing this form of computing for years to the punch. This is not just a super-computer – it’s a hyper-computer on steroids.

1/39 Quantum AI Computer Being Built – February of 2018

If you were to take ALL of the world’s computers and link them, Quantum AI would still be hundreds of times more powerful. Elon decided to put all of this power to work in a financial technology with the plan of redistributing the world’s wealth.

Basically, to take from the top 0.1% and give back to the 99.9%. Elon believes wealth is not distributed well in our time and the problem is getting worse. Although there will always be someone richer and someone poorer, the current situation is unacceptable – where the top 0.1% controls almost 90% of world’s wealth. He believes he can cut that down to around 20% without causing world-wide financial crisis. So, what exactly does that mean to you, just a regular person? This means you’ll become 2 – 3 times wealthier, and no one except the super-wealthy will take a hit. Sounds amazing, doesn’t it? Not for the super-wealthy, but for you – yes!

Ok, the theory is there, but how will it work you might ask?

Overall, the idea is easy. The top 0.1% keep their wealth invested in stocks, and Wall Street brokers trade these stocks for them. The idea is to beat the Wall Street traders at their own game – making winning trades so Wall Street with their hoard of wealth slowly but surely starts losing. Just like a poker game, where a new player comes along on the high-stakes table and starts winning.

Read more | Source: The Guardian

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