Major Apple supplier "Foxconn Technology Group ... pledged to invest $10 billion to build a display panel plant in [southeastern] Wisconsin that could employ up to 13,000 workers and draw up to $3 billion in subsidies from state taxpayers — a deal that could ripple through the economy and 2018 elections," per the Milwaukee Journal-Sentinel.
In an unusual statement, Toyota says it is nearing a breakthrough in a type of lithium-ion battery system that has vexed researchers for decades, and that it will unveil a family of electric cars with a jump in currently available range in the early 2020s.
Why it matters: Given the high stakes and risk of embarrassment if something goes wrong, Japanese companies virtually never flag a big tech breakthrough before it is actually produced and delivered to the market. Hence, Toyota's comparatively specific announcement suggests it is reasonably confident that it really has mastered a new battery technology, said Venkat Viswanathan, a professor at Carnegie Mellon University.
Amazon announced on Wednesday 50,000 open positions across its nationwide fulfillment network, and that it is opening up 10 of its fulfillment centers on August 2 for a "jobs day," where prospective workers can participate in information sessions and tours of the facilities. The firm plans "to make thousands of on-the-spot job offers" to candidates who apply in person at fulfillment centers participating in the jobs fair, like those in Baltimore, Maryland; Hebron, Kentucky; and Kent, Washington.
Why it matters: Six months ago, when Amazon pledged to hire 100,000 workers for full-time positions, it was positioning itself to succeed in hiring the best workers in an increasingly tight labor market. The decision has proved prescient, as since that time the unemployment rate has fallen from 4.8% to 4.4%, while the number of American workers who have part-time jobs but want full time work has fallen 10%.
"Why Hollywood Studios Are Slow to Embrace Virtual Reality ... 'The big elephant in the room is: How do you monetize this?'" — The Wrap's Matt Donnelly and Matt Pressberg, with Sharon Taxman:
"So far the audience is tiny. While Greenlight projects 100 million VR devices will be shipped to consumers by 2021, Facebook's Oculus Rift and the HTC Vive shipped less than 1 million units combined in 2016. Both product launches fell behind projections ...
"The vast majority of VR revenue so far comes from sales of equipment — rather than content for that gear that studios and gaming companies might create. That may change, but it will be a gradual one. ...
"VR content doesn't come cheap ... The technology is still young — and sometimes glitchy ... Theater owners are leery ... No star power ... Early experiments are cool, but where's the 'Avatar' of VR?"
