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Elon Musk expressed support for the U.S. to exit both the United Nations and NATO, aligning with sentiments from some Republican figures. His comments come amid significant changes in U.S. foreign policy under the Trump administration, which has included cuts to international aid and a shift in relations with Russia. Critics argue that both organizations have failed to effectively prevent conflicts, while Musk's recent actions have raised concerns about U.S. credibility on the global stage.
Elon Musk has expressed support for the U.S. to withdraw from NATO and the UN, endorsing a call from a social media user. This endorsement aligns with growing skepticism within the Trump administration regarding international alliances, as Trump has consistently urged NATO allies to increase defense spending. The comments come amid heightened geopolitical tensions and a recent contentious meeting involving Trump and Ukrainian President Zelensky.
This week in startups saw a mix of positive and negative developments. Proxima Fusion gained credibility with plans for a reliable fusion power plant, while Y Combinator faced backlash after deleting posts about Optifye.ai, criticized as "sweatshops-as-a-service." Notable funding rounds included Quantum Machines' $170 million Series C and Shop Circle's $60 million Series B, highlighting significant investor interest in innovative technologies.
Investor sentiment has declined amid new tariff announcements and concerns over NVIDIA's growth, with only 19% of investors expecting stock gains in the next six months, the lowest since 1987. Despite this, the bull market remains intact, and capital preservation strategies, along with quality bonds and gold, are recommended to navigate upcoming volatility.
DBS Group plans to cut around 4,000 temporary jobs over the next three years, with some tasks being automated through artificial intelligence. Meanwhile, Tesla's new registrations in Europe have halved despite a 33% increase in overall electric car sales. Zürcher Kantonalbank is restructuring to create a new "Private Clients" unit, appointing Susanne Thellung as head, effective June 1, 2025. The Swiss economy showed a slight growth of 0.5% in Q4 2024, while Raiffeisen Group reported lower profits due to changing interest rates.
Starlink, owned by Elon Musk, is reportedly being used by scam compounds in Myanmar, where around 120,000 trafficking victims are forced to commit online fraud. Despite being banned in the country, data shows extensive Starlink usage at these sites, raising concerns about its role in facilitating modern slavery and organized crime. Efforts to address this issue have been met with silence from SpaceX, even as officials call for collaboration to shut down these operations.
In Q4 2024, Switzerland's GDP contracted by 0.2%, while the SMI stock index reached a record high above 13,000 points. Raiffeisen Group reported a 13.1% drop in profit due to a challenging interest rate environment, despite growth in the mortgage market and corporate client business. Meanwhile, the German economy faced a decline, impacted by weak exports and production in key sectors.
The US's trade surplus with Australia has shielded Australian agricultural exports from new tariffs, according to Rabobank. While Australia enjoys a favorable trade balance, the US remains a crucial market for its beef, lamb, and wine, with potential tariffs posing risks to these sectors. The report outlines nine waves of US tariffs impacting global food and agriculture, highlighting significant disruptions for countries with trade deficits with the US.
During his first Cabinet meeting, President Trump welcomed Elon Musk, co-chair of the 'department of government efficiency' (DOGE), who emphasized his role in cutting government spending. Musk's team faces backlash over a controversial email demanding federal staff report their weekly work, with threats of termination for non-compliance. Trump also confirmed Ukraine's President Zelenskyy's upcoming visit to sign a minerals deal but ruled out any security guarantees for Ukraine, stating NATO inclusion is off the table.
During his first Cabinet meeting of a second term, President Trump announced a 25% tariff on imports from Canada, Mexico, and the EU, claiming the bloc was designed to disadvantage the US. He also dismissed Ukraine's NATO aspirations, stating they could "forget about" joining the alliance amid ongoing conflict with Russia.Elon Musk, attending the meeting, emphasized the importance of the Department of Government Efficiency (DOGE) in addressing the US deficit, warning that without it, "America will go bankrupt." Musk defended his controversial management practices, including requiring government workers to justify their work weekly.
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elon musk advocates for us withdrawal from nato and un
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14:04 02.03.2025
Elon Musk endorses US withdrawal from NATO and United Nations
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