Good morning, Quartz readers!
Here’s what you need to know
McDonald’s won’t charge extra for eggs, yet. The restaurant chain said it won’t add surcharges on eggs, even as others do and prices hit record highs.
Meanwhile, Trump will shell out $1 billion to solve the egg crisis. The administration just announced its five-point plan to lower prices.
Tesla and GM car owners are loyal. New research from S&P Global revealed that the two car makers have the highest brand loyalty.
Bitcoin’s downward trend worsens. Bitcoin ETFs saw a record $1 billion outflow in just one day.
Amazon’s Alexa got an AI update. The tech giant unveiled Alexa Plus, a generative AI upgrade, that’s free for Prime users or $19.99/month.
iPhone bug types ‘Trump’ in place of ‘racist.’ Apple is fixing the bug after it went viral on social media.
Tesla stock is crashing out
Tesla stock surged after President Donald Trump’s election due to his ties with CEO Elon Musk, but those gains have largely vanished.
The stock closed at $302.80 on Tuesday, down 37% from its mid-December peak of $479.86. This marks Tesla’s lowest close since Nov. 7, two days after the election, bringing its market cap below $1 trillion. While the stock had been slowly declining, the latest drop was partly due to a sales slump abroad.
How much did Tesla sales fall? Quartz’s William Gavin breaks it down.
AI is transforming the world
Technological disruptions will speed up in the next five years as AI adoption grows, requiring more resources, especially electricity and infrastructure, but possibly less labor, according to Bank of America Institute’s “The World in 2030, Part I” report.
Up to 2 billion jobs could be lost globally, prompting a massive re-skilling effort for up to a third of the workforce. And People may spend more time on social media alone.
How else will AI change the world in 2030? Quartz’s Josh Fellman has the details.
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