Archives for July 17, 2019

Elon Musk’s Neuralink hopes to put sensors in human brains next year

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A ‘sewing machine-like’ robot implants threads directly into the brain.

While we wait for Neuralink to present the progress it’s made over the last couple of years in brain-computer interface technology, the New York Times has already published information from an early briefing and it’s stuff that’s straight out of science fiction. The Elon Musk-backed company claims its “sewing machine-like” robot can implant threads deep into a human brain.

Neuralink

The results so far come from testing on lab rats implanted with as many as 1,500 electrodes, which, everyone should be warned, may or may not transfer smoothly to work on humans. If it does work, Neuralink says its intention for the technology at first is to do things like help amputees, or restore the ability to see, talk and listen. Of course, as Elon has said previously, he believes that connecting our brains to computers will eventually be the only way to keep up with the progression of artificial intelligence, so while things may start here the plan is for something much more powerful.

One big reveal is that it “hopes” to begin working on human subjects as soon as the second quarter of next year. In the picture above, that was shown during the presentation, that small protrusion at the bottom right with the arrow pointing to it, is the size of the thread that it actually hopes to implant.

Neuralink

According to the article, its bundles of flexible threads are about one quarter the diameter of a human hair, implanted using needles to avoid blood vessels on the brain’s surface. Then the embedded sensors capture information and send it to a receiver (the chip above) on the surface of the skull. From there it transmits wirelessly — Elon Musk said it could Bluetooth the information to your skull. Right now implantation requires drilling holes, but researchers hope in the future they can use lasers to avoid “unpleasant” vibration.

The pod itself is worn behind the ear, with the wireless, battery and other hardware in there.

Whether or not this can work in humans is, again, still unproven, and also whether or not the wires can hold up over time. Whenever tonight’s event at the California Academy of Sciences actually begins, hopefully we’ll find out a few more answers. You can watch the livestream embedded below.

According to Musk, its current v1 4x4mm chip is capable of 10,000 electrodes with “read and write” capability, which he says is more than 1,000 times the number of the best deep brain interface currently available for Parkinson’s treatment.

Neuralink president Max Hodak went on to explain why it’s embedding sensors directly into the brain, near but not in neurons. Simply, it’s the only way to send and receive the information necessary, from “spikes” of activity. A neurosurgeon is also part of the presentation, showing off some videos of the implantation technology, and how its robot can install thousands of wires directly into the brain while avoiding tissue damage and bleeding. Eventually, they’d like to do it without shaving the patient’s head, although he acknowledged that the first operations will be more like current deep brain implants.

Further presentations explained even more about how all the technology works, and a paper will be released shortly with more data on what they’ve achieved so far. One note Musk revealed during a Q&A session is that “a monkey has been able to control the computer with its brain,” in response to a query about animal testing and the results so far.

Microsoft starts testing Internet Explorer mode for Edge

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It’s giving enterprise users the go-ahead to test the Chromium browser.

Microsoft’s ever-expanding tests for its Chromium-based Edge browser have reached the corporate crowd. The software firm has started enabling enterprise features in Edge’s Dev builds, most notably the vaunted Internet Explorer mode. If a company absolutely needs IE 11 to visit a legacy site, you can try the option without having to switch browsers or give up the creature comforts of the modern web. IT managers can even create a site list that automatically flips to the legacy mode.

The release also brings office-friendly features like group policy support, stricter security measures and “enterprise-grade” PDF viewing. Microsoft is starting to roll out some features that will be ready over the course of “several weeks,” including integrated search for people, a business-focused new tab page with Office 365 links and secure data syncing.

Dev builds are very early and likely to include bugs. You won’t want to use this as your main browser for work or pleasure if you absolutely depend on a glitch-free experience. It brings the revamped Edge one step closer to fruition, though, and should prove sweet news for IT admins who want to be sure IE mode handles their needs.

Tiny vibration-powered robots could repair your body from the inside

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The ‘bristle-bots’ don’t need batteries to move quickly.

There are many challenges to developing robots that could operate within your body, not the least of which is finding a power source — you can’t exactly strap a big battery on them. That might not be an issue thanks to Georgia Tech researchers. They’ve developed minuscule “bristle-bots” that move by tapping vibration from a variety of sources, whether it’s ultrasound or a nearby speaker. The trick was to mate a tiny piezoelectric actuator to a 3D-printed polymer body whose bristle-like legs are angled to move in specific directions in a resonant response to vibrations.

The bots are only 2mm (about 0.08in) long and weigh just 5mg (less than 0.0002oz), but they can move relatively briskly at about 8mm (just over 0.31in) per second. They’re flexible, too. The actuators are made out of lead zirconate titanate that can turn voltage into vibration for movement, or the reverse if they need to power sensors.

Georgia Tech’s existing design wouldn’t be much useful in its current form. It can only move in one direction, and there isn’t a payload. Movement could be solved by combining robots together to respond to different frequencies, though, and the creators hope to develop bots that can jump or swim. If the technology continues to advance, though, you could see unintrusive bots that could fix health problems from within, or achieve simpler feats like tracking environmental conditions and moving small objects.

You’d Be Better Off Just Blowing Your Money: Why Retirement Planning Is Doomed

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I know this is a bold, and possibly controversial title, but retirement planning is broken and leaving people broke.

The destructive narrative is, “work hard, save money in a retirement plan, wait and it will all work out in the long run.”

The reality is, without the ingredients of responsibility and accountability, there is no easy solution for retirement. Meaning, if we just work hard and set money aside, we are putting money into a market we have no control over.

The institutions are winning though. Taking fees along the way. Convincing us to separate ourselves from our hard earned money, encouraging us to take it out of the business we know and put it into investments we don’t.

Low interest rates are great for those borrowing money, but terrible for those wanting to take income from a retirement plan. Those low interest rates are not providing enough cash flow, so that even if you’re a millionaire on paper, you still may be living like a pauper. For example, if you could find 4% interest in a fixed income account, that is only 40,000 dollars a year per million in your retirement account. Oh, and that income is taxable if it isn’t coming from a Roth IRA.

The concept of retirement has robbed the public of the responsibility and accountability required with personal finance. It has become too easy to hand money over to so-called experts due to the busyness of business, kids, hobbies, and other obligations competing for our time.

The reality is, we have more opportunity for time now than ever. For thousands of years people were limited and constrained with the monumental duty of providing for their family by having to hunt, farm or provide shelter with less technology, efficiency and access to resources. We have become addicted to saying yes to things less important than financial stability and freedom.

Instead we run our kids back and forth to numberless activities and programs, we join groups, clubs, spend hours on social media, and worry ourselves with countless meetings and events. There is time for our finances, but the subtle lie that it is overwhelming, too complicated, or you can just set it and forget it by leaving it up to the experts has failed us and failed us big.

When we abdicate responsibility in finance, there is little hope for economic independence. When I was writing Killing Sacred Cows I found a statistic from the U.S. Department of Labor that 95% of Americans were not able to retire at age 65. Retirement plans combined with Social Security and the like couldn’t cover their basic living expenses. That looks like a failed financial experiment to me.

There are those that it has worked tremendously for though. Look to the financial institutions and Wall Street. They are not living by the philosophies of “high risk equals high return” or “it takes money to make money.” You are the one who is taking the risk. They are making money on your money. Do you feel Wall Street is going to take care of our funds? Does anyone think to themselves “Wall Street, they’ve got my best interests at heart.” Yet, that’s where most of the retirement funds are invested.

The answer? It is essential for you to discover your Investor DNA and take personal responsibility.

People fund retirement plans blindly. They don’t focus on cash flow, they focus on accumulation. And when it’s time for cash flow, they’re heavily disappointed. They are being guilted into doing these things regardless of the amount of debt load they have. Small business owners may think it’s too risky to invest in their business because everybody else is putting their money in the bigger establishments and businesses. But remember- those businesses still have risk, the only difference is you have less control over them.

My main message here is this: how, if it has been failing for so long, are we still buying into this? This retirement plan notion, that focuses on accumulation and setting money aside; and then one-day, someday, you might actually retire. It hasn’t worked and it won’t work.

It is time to get clear about your finances. You don’t have to know all the different types of investments available, just know your Investor DNA. What do you have the ability, knowledge, and interest in? Where can you gain expertise and focus rather than relying on risk and Wall Street?

You could even focus on your business, grow it and then secure that wealth with the least amount of risk possible by transferring your business wealth to personal wealth. Pay off loans if the interest is higher than your earnings. Automate your savings and then deliberately invest. Keep control of your cash and focus on cash flow. Learn to manage and mitigate risk so you don’t have to start over or deal with major hits to your wealth. If you don’t know where to invest, invest in yourself.

Rookie investors always stay invested. The pros sit on the sidelines and provide cash to those in a cash crunch so they can buy at a deep discount, find value and profit upfront.

We have an epidemic; a problem. People are not prepared for retirement. And the truth is, they are not going to be; because they don’t want to be responsible, they don’t want to take accountability. They want to hand their money over, and hope for the best. The reality, however, is wealth doesn’t work that way. Handing your money over will just end up making other people rich at your own expense. Others are getting your fees, whether the market goes up or down, and commissions are creating hits to your account as well.

How can we have such massive failure, yet so much compliance? It is time to ask new questions, to demand results and take back control of your finances.

Question the conventions of a system that has shown time and time again it doesn’t work, and instead, make sure your money works for you

Hackers broke into Sprint accounts through Samsung’s website

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It’s unclear how many people were affected.

Sprint’s security team is having a very, very lousy 2019. On top of the earlier Boost Mobile breach, the carrier has revealed that hackers obtained “unauthorized access” to an unspecified number of Sprint accounts through Samsung’s “add a line” website. The provider said that the data didn’t pose a “substantial risk” for fraud or identity theft and didn’t include credit card or social security numbers, but there’s still good reason for concern. Intruders may have seen names, billing addresses, phone numbers, device IDs and account numbers, among other sensitive details.

The network found out about the breach on June 22nd, and reset PIN codes for all the affected accounts on June 25th. In a statement to CNET, Samsung said the attempts were using Sprint login details that “were not obtained from Samsung.” The phone maker also rolled out additional “measures” to reduce the chance of future breaches.

We’ve asked Sprint for more info, including when it believes the breach took place, the number of affected users and whether or not there’s evidence the account data was changed or used. The access through Samsung’s portal suggests the scale was limited (it’s not the same as attacking Sprint directly). Regardless, it’s really not what the network likely wanted to report — especially not with its T-Mobile merger already hanging in the balance.

Why seniors should avoid the temptation to sell their investment property — even if it’s soared in value

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Prices in many real estate markets have regained their pre-financial-crisis levels. Prices in some areas have surpassed those levels and are still going up. That means many real estate investors now own properties that are worth way more than their tax basis. That’s especially likely with a rental property for which you’ve claimed depreciation deductions over the years. Those depreciation write-offs reduced your tax basis in the property, resulting in a bigger taxable gain if you sell.

Here’s the message: If you are a well-seasoned individual who owns real property that would trigger a big taxable gain if sold, please think long and hard about not selling. Why? Because simple inaction or arranging for a tax-free Section 1031 exchange, instead of a sale, could be tax-smart strategies.

This column explains why, after first covering some necessary background information. Let’s get started.

Tax basics for greatly-appreciated real estate

If you sell a greatly-appreciated property, you will probably pay the maximum 20% federal long-term capital gains rate on your whopping big profit. If we are talking about a rental property, you will probably pay a 25% federal rate on the portion of the gain that’s attributable to depreciation write-offs. You’ll probably owe the dreaded 3.8% net investment income tax too. If you live in a state with a personal income tax, you can pile that tax rate on top of what you’ll owe the Feds. When you add up all the rates, the total could be an unacceptably high percentage of the sale price (see below). What to do? Please keep reading.

Tax-saving solution: hang onto your property until the bitter end

The simplest tax-saving strategy in the greatly-appreciated real property scenario is to do nothing. Hang onto the property. Don’t sell it. Here’s why. For federal income tax purposes, the tax basis of real property that you still own when you depart this cruel orb is stepped up (increased) to fair market value (FMV) as of: (1) the date of your death or (2) six months after that date, if the executor of your estate chooses the later date, according to Internal Revenue Code Section 1014(a).

* If you are unmarried, the basis step-up rule applies to your entire ownership interest in the property. So when your heirs sell the property, federal capital gains taxes will only be due on the additional appreciation (if any) that occurs after the magic date.

* If you are married and your spouse own the property together, the tax basis of the portion you own is stepped up when you die. The basis of the remaining portion is stepped up when your spouse dies. Once again, your heirs will probably owe little or nothing to Uncle Sam when the property is sold.

* If you and your spouse own real estate as community property in one of the nine community property states, the tax basis of the entire property is generally stepped up to FMV when the first spouse dies — not just the half that was owned by that person, according to Internal Revenue Code Section 1014(b)(6). This strange-but-true rule means the surviving spouse can then sell the property and owe little or nothing to the Feds.

* If the taxpayer-friendly basis step-up deal is also available under applicable state income tax rules, the hang-onto-the-property strategy works the same tax-saving magic for state income tax purposes.

Alternative tax-saving solution: arrange Section 1031 exchange and hang onto the replacement property

You may love the idea of avoiding taxes on your greatly-appreciated investment real estate, but you might want to unload your current property and reinvest in other property that you think has more potential for future appreciation. In that case, consider doing a tax-free Section 1031 exchange. You swap your current property for replacement property that you think has more upside. With proper planning and attention to detail, the Section 1031 exchange rules allow you to avoid most or all of the tax hit from unloading the current property. The untaxed gain from the current property reduces your tax basis in the replacement property. So you start off with a built-in tax gain on the replacement property. But if you hold that property until the bitter end, the aforementioned basis step-up rule can work its tax-saving magic for your heirs.

Adding up the tax hits on a big gain from selling investment real estate

If you have a large taxable gain on sale of investment estate, the taxes can add up like this:

* 25% federal rate on long-term gain attributable to depreciation deductions claimed for a rental property.

* 20% federal rate on remainder of long-term rental property gain or long-term land-sale gain.

* 3.8% federal net investment income tax rate.

* State income tax rate, if applicable. If you live in California or New York City, the state and local tax hit on a whopping real property gain could around 13%, which could result in a combined federal, state, and local tax rate in the 37% to 40% range. Yikes. While tax rates in other jurisdictions are lower, they can still be painful.

The bottom line

Doing nothing is not usually a good tax planning strategy, but the greatly-appreciated real property scenario is an exception — if you hang onto the property until death. The other tax-saving strategy is to arrange a tax-free Section 1031 exchange, and then hang onto the replacement property until you depart. If you are interested in the Section 1031 exchange idea, consult a pro who handles these deals on a regular basis. Section 1031 exchanges are not good DIY projects, but the tax savings can be huge.