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66 Year Old Toyota CEO Resigns; Says, “I’m Too Old”

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Recently, the CEO of Toyota, and grandson of the founder of the car company Akio Toyoda announced that he is stepping down as head of the auto giant. He believes he is too old to understand the consumer sentiments of this generation.

Many were shocked because in the last 14 years, he took the company from a highly conservative, cautious but quality conscious company, to a bold, ambitious, trendy and adventurous one. Reinventing the brand to appeal to younger consumers.
When he took over as CEO, he had a tough time convincing Toyota engineers that he can run the company because first, he has a law and business background; second, he was not a top race driver.

He was told by members of the board that Toyota engineers would not respect him and would not take his ideas serious unless he trains as a top race driver, which will provide him with background knowledge of how a car engine works.
He obeyed, and started training as a race driver, after months of highly intensive training, he qualified and started taking part in race events.. He participated as a driver at events including the 2009 24 Hours Nürburgring race employing the pseudonym Morizo Kinoshita.

He reached the 87th position overall and the fourth position in his class with his LF-A Prototype No. 14. It was the success of the prototype LF-A which helped in the promotion of sports models including the Lexus IS F and Lexus LFA at auto races.
In 2016, Toyoda approved the project that would result in the GR Yaris; during the development of that car, Toyoda (as Morizo) served as a test driver.
Morizo crashed the first test car during a mid-winter test drive at a Hokkaido track; after exiting the car on his own, he remarked that he did not “like the feel of it”. Engineers went back to the drawing board.

His love for racing resurrected the Toyota Supra (GR Supra) which today confidently compares with the Nissan Z and brings back the childhood dream car of many Gen Xers.

Toyoda said that at 66, he is too old to run a company that expected to meet the needs of younger generation as his views, and tastes might be outdated thus the need for the company to have a new management team of younger leaders to navigate the challenges ahead.

Inspite of taking Toyota to leadership position in many areas, the company has faced criticism that it has been too slow to adapt to the rapid rise of EV challengers like Tesla and China’s BYD.

As his replacement, Toyoda presented one of the most loyal insiders in Koji Sato, former president of Lexus, and one of Lexus top engineers/innovators. Koji is presently Toyota’s Chief Branding Officer.
According to the retiring CEO, “Sato is a man who has worked hard to master Toyota’s philosophy, techniques and manners in the field of car manufacturing, he is young, and he loves cars.”

“In order to promote change in an age when the right answers are not known, it is necessary for the top management to continue to be on the frontlines themselves. To do so, physical strength, energy and passion are essential. I think being young is a big attraction in itself.”

A Different Car Company

A major uniqueness of the Toyota philosophy that stood it out from others is also why it builds far more reliable and durable cars; Toyota is run by engineers, while other car companies are run by salesmen and accountants.
To head Toyota, you either have engineering background, or you first get accepted by the engineers because Toyota engineers are renowned for sticking to their ideas.
And two major areas have exemplified this over the last four decades. First are quality materials: Toyota engineers insist on high-quality materials in the manufacturing of their engines, including robust cast iron blocks, durable aluminum alloys, and high-grade steel components.

The second is precision engineering: Toyota has a reputation for precision engineering, which means that each engine is designed and manufactured with extreme care and attention to detail. This helps ensure that every component works together seamlessly to maximize performance, and may work in extreme conditions without replacement for upwards of two decades.

Yo shinai, Yo kangai-Good thinking, Good Product!

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YouTube And Meta To Pay $3M Compensation To Girl Who Got Addicted To Their Platforms

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A jury in Los Angeles has ruled that tech giants YouTube and Meta are liable for negligence in a closely watched case involving a young woman who said she became addicted to their platforms from childhood.

The panel awarded the plaintiff $3 million in compensatory damages, assigning 70 percent of the liability to Meta. Jurors also determined that both companies could face additional punitive damages, with a decision on that yet to be made.

The lawsuit, filed in 2023, alleged that platforms such as Instagram were deliberately designed to create addictive user experiences, particularly for young audiences. According to court filings, the plaintiff began using YouTube at age six and Instagram at nine.

During the trial, a therapist who treated the woman testified that prolonged social media exposure contributed to significant mental health challenges, including social phobia and body image issues.

Both companies have rejected the verdict. Meta argued that teen mental health is influenced by multiple factors and cannot be attributed to a single platform. YouTube, meanwhile, maintained that its service is not inherently addictive.

Legal experts expect both companies to appeal the decision, setting the stage for a potentially influential battle over the responsibility of tech platforms in safeguarding young users.

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Google acquires energy company Intersect for $4.75 billion

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미국 캘리포니아주 마운틴뷰 구글 캠퍼스의 한 건물. /AP 연합뉴스

Google is acquiring energy infrastructure company ‘Intersect’ for $4.75 billion (approximately 7 trillion Korean won) to secure the power needed for its AI (artificial intelligence) data centers. The move aims to address the power issue, the biggest hurdle in expanding data centers. Google, which developed the ‘Gemini’ AI, is a so-called ‘AI full-stack’ company equipped with all AI-related technologies and services, including AI chips and cloud (virtual servers). The strategy is to directly manage the energy infrastructure needed to actually operate AI as well.

Reuters reported on the 22nd (local time) that Google is acquiring Intersect for $4.75 billion in cash. Google already holds a minority stake in Intersect, and through this acquisition, it will also secure the gigawatt (GW)-level energy and data center projects that Intersect is developing and constructing. Intersect is expected to be responsible for building Google’s data center power infrastructure in the U.S., based on its technology linking power generation facilities and power grids.

Sundar Pichai, CEO of Google and Alphabet, said, “Intersect will enable us to build power infrastructure more quickly and flexibly in line with the increasing demand for AI data centers,” adding, “It will also be an important partner in strengthening America’s energy innovation and technological leadership.”

Bloomberg reported that Intersect’s energy assets currently in operation or under construction in the U.S. amount to $15 billion (approximately 22.2 trillion Korean won).

◇Google increasing energy investments

Google has recently been increasing its investments in the energy sector. Although the company possesses AI chips (TPUs), Gemini, and search and cloud services, stable energy supply is essential to support these businesses.

To this end, Google is also investing in nuclear power technology. In October of last year, it signed a long-term cooperation agreement with small modular reactor (SMR) startup ‘Kairos Power’ to secure up to 500 MW (megawatts) of power. It is noted as the first case among big tech companies to publicly declare securing SMR-based power. Additionally, in August, Google and Kairos Power announced plans to build the next-generation SMR ‘Hermes 2’ in Oak Ridge, Tennessee. The goal is to commence operation in 2030.

Google is also restarting previously shut-down nuclear power plants to secure energy. In October, it announced that it will collaborate with ‘NextEra Energy’ to restart the Duane Arnold Nuclear Generating Station in Iowa, which was closed in 2020. The target restart period is between 2028 and 2029.

Google is also investing in renewable energy such as geothermal power. Since 2023, it has been supplying power to data centers through geothermal power generation with ‘Fervo Energy’ in Nevada, U.S.

Google is also actively investing in next-generation energy technologies that are not yet commercialized. In 2022, it made a large-scale investment in ‘TAE Technologies,’ which possesses nuclear fusion technology. Nuclear fusion power generation is a technology that applies the principle of energy creation in the sun, combining atomic nuclei to produce energy. It is called the ‘dream energy’ because it has abundant fuel resources, emits no carbon, and, unlike conventional nuclear power plants, does not produce high-level nuclear waste. However, it is assessed that more time is needed for commercialization due to technical challenges. Recently, TAE Technologies has accelerated the commercialization of fusion energy by merging with Trump Media Group (TMTG).

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“I Lost $1.2 Million To Hackers On One Of My Apps. I Caught One Of The Hackers, And Instead Of Handing Him Over To The Police, I Employed Him To Work For Me.”- BLord

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Anambra Born tech entrepreneur and businessman Linus Williams, popularly known as BLord, has shared an unusual story about how he handled a major cyberattack on one of his applications.

According to BLord, he lost $1.2 million to hackers who infiltrated one of his digital platforms. In the course of tracking the incident, he successfully identified one of the individuals involved in the breach.

Rather than handing the suspect over to security agencies, BLord said he made a strategic decision: he employed the hacker.

He explained that the hacker’s skills, though misapplied, were exceptional and could be redirected towards strengthening his company’s cybersecurity systems.

BLord noted that the decision was driven by a desire to turn a negative experience into an opportunity for growth and to better secure his business infrastructure.

 

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