Readit NewsI suspect he may end up buying the assets himself or someone in this circle.
“‘It seemed doomed almost from the moment they decided to go to a sealed bid,’ Judge Lopez said.”
is nonsense from an auction theoretical perspective.
First-price sealed-bid auctions are a vetted auction system [1]—almost all real estate and corporate mergers, for example, are sold like this, as are government tenders [2]. (They’re not as efficient as Vickrey auctions [3], but nobody actually does that.)
The bankruptcy estate is selling the asset. Not Alex Jones. The creditors should be deciding who buys their stuff. Not a judge. (The judge is there to coördinate the creditors, not substitute his judgement for theirs.)
[1] https://en.m.wikipedia.org/wiki/First-price_sealed-bid_aucti...
[2] https://www.investopedia.com/terms/s/sealed-bid-auction.asp
The other creditors get more cash from The Onion's offer. It was specifically structured to give better-than-next-offer remuneration to minority creditors.
That is the most farcical bit. When you strip away all the legalese, the offer was literally formulated as "next best offer + $". That is not a valid sealed-bid offer.
In 2016 Waymo reported their safety drivers intervening once for every 5,100 miles driven [1] - which implies to me that 99% of journeys nobody touched the wheel or pedals.
The problem is 99% isn't enough, as there are tremendous numbers of cars out there, and a busy bit of freeway would get a disengagement per minute.
[1] https://driverless.wonderhowto.com/news/2016-disengagement-r...
It depends how you look at it, but in the (super limited) cases where you can use Mercedes Drive Pilot you can legally and safely read a book, watch a movie, or work while in the driver's seat. [1] That's not the case with any Tesla product.
https://lean-lang.org/lean4/doc/faq.html