“Data-Geddon”…. How do we solve this problem?
Yes, it’s not quite Friday, but hey, we’re getting there…
Last night, I went out for dinner with the management of Weebit Nano (vending into RAD), an Israeli tech company “disrupting” Flash memory.
Did you know that over 2% of America’s total energy usage is being used by data centres?
Photos, videos, Instagram, emails….
The “cloud” is not somewhere in space…
Your data is currently being stored in physical data centre, that are using more power than 8,000,000+ MCG worth of megawatts, daily…
This is a huge problem, as we are in a “data-geddon”….. and this problem will only get larger as more devices are connected to the internet (internet of things)…
So imagine a micro chip that is less than 16mm in size, made out of sand (Silicon Oxide), being used to store all this data….
Not only was I impressed, but Dadi Permutter was also impressed, and has joined as executive chair (Dadi used to be 2nd in charge in Intel)…
Keep a look out for the opportunity next week….
So what happened last night?
US stocks fell again (Dow -99 points), with the S&P 500 remaining at a three-week low, amid mixed data and lingering concerns weak global growth will weigh on the American economy.
Bank shares were among the biggest losers for a second day, while energy and raw-material producers
"We had several economic numbers that came out, and ADP in particular was weaker than expected, which is negative for the market," said Richard Sichel, chief investment officer at Philadelphia Trust Co, which oversees $US2 billion.
What's on today?
Local data: Trade and retail sales, HIA new home sales
Local earnings: National Australia Bank, News Corp
Central bank watch: St Louis Fed chief James Bullard in California; Fed presidents James Bullard, Robert Kaplan, Dennis Lockhart and John Williams a panel discussion on "International Monetary Policy and Reform in Practice" in Stanford
Overseas data: China Caixin services/composite PMIs; ECB's monthly economic bulletin; UK services PMI April; US jobless claims weekly, US energy association annual meeting in Washington
Overseas earnings: Kellogg, Activision Blizzard, Occidental Petroleum, Merck & Co, Discovery Communications, Chesapeake Energy, Square Inc, Alibaba Group Holding, Repsol, BT Group, Finmeccanica, Banca Monte dei Paschi di Siena
Stocks in focus
National Australia Bank, BHP Billiton
The SPI is down 15 points this morning.