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Energy

Arkansas will be the new HQ of lithium mining

Arkansas hasn’t seen this much attention since the Civil War. On Monday, scientists from the Arkansas government and the US Geological Survey (USGS) said that they had discovered an enormous quantity of lithium, an essential component of batteries for electric cars.

Researchers found a limestone deposit called the Smackover Formation (yes, that's the actual name) may contain 5 to 19 million tons of lithium, which is enough to meet the world's demand for the metal... with a lot left over.

Ample EVs

Finding such a deposit in the mainland is huge for the US, as Australia and South America supply the majority of the world's lithium. The vast bulk of it is then processed in China (which dominates battery production), but with this new discovery, that is sure to change.

• David Applegate, director of the UGCS, stated that finding the deposit will have large implications for “employment, manufacturing, and supply-chain resilience,” in the US.

Time to mine: Five other companies have scouted the area, including Exxon Mobil, which has already begun drilling preliminary holes to figure out if it can cost-effectively mine the lithium and understand the “supply-and-demand picture.” It plans to start mining around 2027.

However, since the water the lithium resides in is so salty, Exxon and others are looking into direct lithium extraction (DLE), an expensive technique that offers more efficient and safer extraction than current options.

Technology

US startup will let couples pick “higher IQ” babies

If everyone is going to be smart who’s gonna buy the lottery tickets? By genetically screening embryos, US startup Heliospect Genomics promises future parents a smarter child. But is it ethically sound?

The expensive and controversial technology has raised red flags regarding the ethics of genomic enhancement and the implications of letting parents pick out “superior” children.

Selective Superiority

A child's IQ can be raised by at least six points by Heliospect Genomics, which reportedly charges up to $50,000 to examine 100 embryos for genetic markers associated with higher intellect.

• According to the creators, by the end of last year, five couples had already chosen embryos using its genomic prediction technology.

• Experts that the practice represents an “ethical minefield” although the company assured them it is following all laws and regulations in the US.

“One of the biggest problems is that it normalizes this idea of ‘superior’ and ‘inferior’ genetics,” Katie Hasson, associate director of the Center for Genetics and Society in California, told The Guardian.

It’s a gamble anyway: In a recent publication, Japanese researchers concluded that screening for desirable genetic features in embryos is redundant since attributes like IQ aren't produced by a single genetic mutation.

Law

Former A&F CEO arrested on sex trafficking charges

Is it a huge surprise that the CEO of a retailer that had shirtless young men everywhere is a creep? Mike Jeffries, the former CEO of Abercrombie & Fitch, was arrested on Tuesday on federal counts of interstate prostitution and sex trafficking.

According to a federal indictment, Jeffries and two others exploited his money, status, and network of staff members to satisfy the couple's sexual fantasies and hide everything for nearly two decades.

The indictment

According to the 16-count indictment, Jeffries, his partner Matt Smith, and his business associate, Jim Jacobson, are accused of running a global prostitution and sex trafficking enterprise that recruited young men for “sex events” both locally and overseas.

• The victims were given liquor, sedatives, Viagra, and various other substances at the functions, according to the indictment (see here).

• The retailer was also the target of a lawsuit brought by an alleged victim soon after the report.

  • Jeffries has had no comment regarding his involvement in the crimes.

The news comes over a year after an investigation by the BBC claimed Jeffries used the retailer to set up a sex trafficking ring between 2008 and 2015, luring young men to attend parties where they were forced to engage in sexual acts in exchange for a modeling position.

Jeffries, Jacobson, and Smith tricked the men, some as young as 19, into thinking they would be promised jobs, and that if they didn’t perform the illicit acts it would deteriorate their prospects.

• Prosecutors said Jacobson often acted as a recruiter for Jeffries and Smith, and the victims would have “tryouts” with him before moving on.

Prosecutors and the FBI have urged other victims to come forward, as they believe there are many more involved. US attorney Brian Peace stated that prosecutors have "a lot of evidence," which includes witness and accuser testimony, financial records, and travel logs.

Where are they now? Jeffries smiled after posting his $10 million bond and was released Tuesday. Smith is still detained as prosecutors are concerned he may flee the country. Jacobson also posted a $500,000 bond, saying “I understand what they claim,” as he left the courthouse.

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Grab Bag

Need a hotel room? Call an Uber

Uber is looking to be the ultimate drunk convenience. In a move that would expand the company’s horizons beyond just travel and food delivery, Uber discussed buying travel booking site Expedia last week.

According to someone familiar with the process, Uber's interest in the travel platform is "very early stage," and no talks are currently in progress, according to the FT.

New Direction

Buying Expedia, which has a market value of over $20 billion, would be a big gamble for the ride-hailing company... and not a cheap one. It would be Uber's largest acquisition ever.

However, Uber has been taking long strides lately and is no longer focused on taking baby steps. With a market valuation of around $170 billion, its share price has risen 85% in the last year. In February, it announced its first-ever annual profit.

Back to the beginning: Uber CEO Dara Khasrowshahi was also the CEO of Expedia from 2005 to 2017, where he left the company to turn what was then a struggling ride-sharing business into the giant it is today.

• Khasrowshahi has said he wants to turn Uber into a “super app”, similar to China’s WeChat, echoing similar ambitions to Elon Musk and X.

Experts say that an acquisition of Expedia would be a “major strategic home run,” and offer more monetization opportunities to Uber, on top of their food delivery, ride-hailing (which now includes helicopters and yachts), and freight businesses.

Super app inbound? If the acquisition takes place, Uber could be a one-stop shop for all of your travel plans. Drive you to the airport, pick you up, and book your hotel all on the same interface. One trip, one app, no migrane. That sounds one step closer to the coveted “super app” label to me.

College is only going to get more expensive

Not that it’s a surprise, but more prospective college students are skipping out. As US high school students have run the gauntlet of trying to get high ACT/SAT scores, volunteer hours, extracurricular activities, and great GPAs, many are starting to wonder if college is worth the effort and the cost.

It’s Too Expensive

According to the most recent College Board data, the average price tag for tuition, fees, housing, and meals at a four-year institution is $56,190 for private, nonprofit colleges and $28,840 for in-state students at public colleges.

• A four-year university's average cost increased by 155% between 1963 and 2021, according to the National Center for Education Statistics.

But why the big sticker price? It’s a combined number of factors like rising demand, inflation, and expenses, along with withering enrollment numbers, and increased competitiveness that have created an increasingly expensive college career.

Gen Z is done

The cost of college doubling in the 21st century has driven young Americans to flock toward trade jobs, where job security, which is one of the highest-ranked factors young people consider when choosing a job, is better than the tech industry.

• According to a survey by New America, more than half of Gen Z think that it’s possible to get a high-paying job with only a high school diploma.

Big picture: More young people are seeing a better return on investment in blue-collar fields as well, as a two-year course can offer a lifetime job with a high starting salary for positions that are in desperate need of filling.

Fast Facts

Chemical Chillers: According to a recent study in the journal Science of the Total Environment, bumblebee queens prefer to hibernate in soil containing pesticides to soil that doesn’t.

Dorito Den: The Crypto.com arena in LA opened a new restaurant named Doritos After Dark, which unsurprisingly serves Doritos-inspired dishes like a Flamin’ Hot margarita and a Dorito/ramen burrito hybrid. Put this on college campuses immediately.

Fashion Forward: Together with Axiom Space, Prada showcased the spacesuit design that NASA astronauts are going to use when they set foot on the moon in 2026.

Stocking Steel: According to a Saudi official, the construction of the gigacity, named "The Line", will use one-fifth of the world’s steel. It also apparently accounts for 5% of the global logistics market.

Bunny Buyback: Cooper, the youngest son of Hugh Hefner, wants to repurchase the Playboy brand for $100 million.