Gabor Steingart

Tour operators criticize the German Travel Security Fund Deutscher Reisesicherungsfonds GmbH (DRSF) for being too expensive. Yet the DRSF would have sufficient financial resources to reduce the fees. At least that is the accusation made by the travel agency association VUSR. What is the DRSF's response to this? fvw | TravelTalk asked. #drsf #customermoneyprotection #touroperators #travelindustry #fvwtraveltalk

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It was an interesting conference. Last week, I went to the #GoogleMarketingLive at the tech giant's new Bay View campus in Mountain View. 5,000 employees work here on a good 100,000 square meters, primarily on the ad business, Google's most important revenue stream. And thus on nothing less than the #internet of the future. There, AIs will soon be tracking users incessantly. Advertisers are delighted, data protectionists alarmed ... 💡 "We are all going through another transformative moment together today, perhaps the most transformative to date," said Google SVP Philipp Schindler on the big stage. "Of course I'm talking about the new #AI era." 💡 The "Marketing Live" takes place a week after the I/O developer conference, at which CEO Sundar Pichai presented the company's new achievements in AI. While I/O is the conference for the headlines, "Marketing Live" is for business. Google has invited hundreds of its closest customers: Advertising and creative agencies, large corporations and family businesses. All of them earn their money with and around Google's advertisements, which generated around 62 billion dollars for the tech giant last quarter. 💡 Now, Google wants to fundamentally transform the online advertising world. Three developments make this possible: 1. The end of cookies 2. AI-generated advertising is becoming omnipresent 3 AI predicts user behavior Full story in Handelsblatt including insights from Brendon Kraham, Karen Stocks, Sebastian Küpers, Daniel Ives and Nader Henein:

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How to lower CO2-Emissions of the Transportation Sector   „Innovation instead of instruments of torture against car users” is the title of my editorial on the German debate on CO2 emissions of the transportation sector. https://lnkd.in/ec8sGv7g For many weeks, the liberal German Transport Minister Volker Wissing has been criticized for not reaching the targets for lowering CO2-emissions by the transportation sector.   The Public German Environment Agency (Umweltbundesamt) presented a report on “Getting the Transportation Sector on Course” (Report 59/2024) with suggestions for lowering the emissions of the transportation sector. These seem like a list of torture instruments for individual transport, car users and freight transport by lorry: Speed limits would be only a minor thing. What is asked for would be a tax called “Malus for combustion engines”, to be paid with the road tax of the first year. From 2025 onwards, for a simple Volkswagen Golf with a petrol engine of 150 horsepowers (110 kW), there would be an additional tax of 2760 Euro, from 2030 onwards a tax of 30.240 Euro, then mercifully reduced to half of the price of the car. On top, for all private cars, there is the request of a tax on every kilometer covered, initially 1,3 Eurocent, later more than 7 Eurocent per kilometer. Thus, individual transport should be cut by one quarter. Also freight transport should pay more, with tolls for all lorries and roads, which should be drastically increased.   The reason for these drastic measures should be the inability of the transport minister to increase the number of electric cars on the roads. But it is not his fault that there are not enough possibilities to charge cars at home or at work or that there is not enough green energy to charge the cars. This is the responsibility of the Green Minister for the Economy and Climate, Robert Habeck.   The general problem of German climate activists is that they want to make an example of Germany, forgetting the rest of the world. In Germany, in general, CO2-emissions have shrunk by 37 per cent from 1990 to 2022, in the EU by 27 per cent, while they have risen by 62 for the whole world, in China by 285 per cent. During the same period, the emissions of the German transportation sector have shrunk by 10 per cent, while they rose by 19 per cent in the EU, globally by 72 per cent.   Lowering the German contribution to the World CO2 emissions – 1,4 per cent in general and 0,27 per cent for the German transportation sector – will not save the climate. While German climate activists seem to desire the end of the local car industry, the opposite would be necessary: Innovations of the car industry, clever regulation, and openness of consumers for change would offer the chance for a contribution to lower global emissions.

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Wolfgang Münchau – in his latest book KAPUT The End of the German Miracle – is trying to summaries reasons for a systemic crisis of German economy. Wolfgang Münchau - co-founder and director of Eurointelligence. He writes a weekly column on European affairs, syndicated to El Pais, Corriere della Sera and Handelsblatt. He was a Financial Times columnist from 2003 until 2020 and co-founder and editor-in-chief of Financial Times Deutschland. Münchau is trying to diagnose a crisis in German economy. He indicates many reasons for a systemic crisis but I think he misses a few important ones. 1)   Germany gained a lot on being a EU member: a.   Moving some manufacturing and services to CEE (mainly Poland) gained its competitive advantage and margin. At present average salary level raised as well as electricity prices. Poland has highest electricity prices within EU mainly due to carbon tax transfers. b.   EURO zone – was a way to transfer funds to Germany and to keep competitiveness of German economy due to relatively low exchange rate EURO against other currencies. Germany (mainly) and the Netherlands were the only beneficiaries of European economies. 2)   Green Deal was imposed all other EU member states in order to centralize power under German-French helm in order to transfer funds from peripheries into the central economies. Exerpts from Münchau’s book: (…) Modern Germany has never known anything other than corporatist industrial society. There is a degree of managed friendly conflict between trade unions and employers, but both ultimately operate within the same system. On the big questions, they agree. Successive governments have regarded it as a priority of German foreign policy to help German companies secure orders and to support the interests of domestic industry at home, in Brussels and abroad.   Scholz and his government did not see this crisis coming. Even the Greens were fully paid-up subscribers to the corporatist industrial model. For all their political differences, they all agreed on this. Industry was good. The right wanted industrial profits. The left wanted industrial jobs. The Greens dreamt of a green industry. Nobody questioned the over-reliance on industry itself. Instead of diversifying away from traditional industry towards other sectors, Germany doubled down.   It was the only system they ever knew.

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Reports out of #Germany that Chancellor Scholz (Social Democrats, SPD) fired Finance Minister Lindner (Liberals, FDP). The coalition government has collapsed. New elections unavoidable. -> Not a great time to call election from standpoint of Social Democrats, as their latest poll numbers are depressed and at same level as far-right Alternative for Deutschland (AfD). => Implications on fiscal stance: Lindner was the last resistance against higher fiscal spending. Potentially positive for growth, probably welcomed by Club Med countries (fiscal deficits already exceeding Maastricht criteria by far) as they might face less punishment, potentially weaker for Euro (unless ECB will tighten monetary policy to counterbalance fiscal largesse). => "Buendis Sarah Wagenknecht" (BSW), formerly far-left party "The Left), might play a role in national politics as her party currenly polls above the 5%-hurdle. She is in favor of ending the war in Ukraine and has an anti-immigration stance. => Seems suicide for Liberals as they are currently polling below the 5% hurdle. => Big winner could be the center-right (CDU), currently leading the polls (and would therefore get a change to form a coalition). Looks like Germany will move politically to the right. -> We observe little or no spread widening between German and other Euro-area government debt as a reaction (which came after markets closed in Europe). The German 10-year stands at 2.41%. France and Spain at clear premium at 3.18%, followed by Greece (!) at 3.40% and Italy at 3.73%. Italy (135% debt-to-GDP) and Greece (162%) pay lower interest rates than UK (98%) and US (122%). This is only thanks to the assumption that the political will to keep the Euro-area together would galvanize politicians into further bailouts of countries should the need arise.

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Thanks Philipp Stauffer - for the shout-out and for sharing your insights with me for the story. The article is now also available in English: https://lnkd.in/d76tsd8M

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Interesting question at the #NITDA24 „Business of Journalism Summit“ from FT Strategies und der Google News Initiative: „Where will you be consuming news in 2030?“ My take: We will not be able to know! Why? Slide back 6 years to 2018 - there Tiktok was still consumed as „musical.ly“ 😇😎🤣 Anyway: Amazing speculative takes from Sarah Marshall and Nick Petrie: How do we develop muscles for innovation? Why have we struggled to develop those muscles? Plus: Three great preparation slides from Condé Nast by Sarah!

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+++ 📈 The EU HY market has switched the clock back to three years ago. Issuance in the opening of Q2 reached volumes not seen since 2021, according to 9fin data. Debacles in Altice Group and Intrum haven’t affected investor appetite as 9fin data shows we've just had the highest volume in a single week since October 2021. However, new money supply is still lagging as the narrative is stuck on refinancings +++ 9fin's subscribers can read our new report here: https://lnkd.in/dWtPEnV7

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According to a report published in the Tagesspiegel on 19 April 2024, the German government is considering setting up a citizens' assembly to review COVID-19 policy. "As a first step, we are proposing a citizens' assembly in which randomly selected people can describe their experiences and make recommendations for the future," Katja Mast, First Parliamentary Secretary of the SPD-Bundestagsfraktion in the Bundestag, told the Tagesspiegel. According to the report, the BÜNDNIS 90/DIE GRÜNEN and FDP Freie Demokraten are also open to the idea. "For us Greens, it is crucial that we clarify quickly and, if possible, in consensus with the other democratic parliamentary groups how we can come to terms with the COVID-19 period," Irene Mihalic, First Parliamentary Secretary of the Greens, told the newspaper. Several instruments are conceivable for this, in addition to a commission of enquiry in parliament, this also includes the idea of a citizens' assembly. The Liberals were also in favour of the idea of a Citizens' Assembly, but they maintained their wish for the establishment of a commission of enquiry. This would be the "gold standard for having highly complex legal and scientific issues analysed by independent experts", said Christine Aschenberg-Dugnus, Parliamentary Secretary and health expert for the FDP parliamentary group in the Bundestag. However, her party is open to "further bodies such as a citizens' assembly". „A citizens' assembly and a newly created commission offer the opportunity to hold these debates without foaming at the mouth," SPD parliamentary group leader Mast told the Tagesspiegel newspaper. In this way, the rifts caused by the pandemic could be overcome. According to the report, the parliamentary group leaders want to agree on a common approach in the coming week. According to the "Tagesspiegel", the CDU/CSU-Bundestagsfraktion is sceptical about a reappraisal.

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Read now!   #Deloitte #FinancialAdvisory #AIS #ActuarialInuranceServices #Innsurance #Versicherung #Höchstrechnungszins #Garantiezins #ZukunftGestalten

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🚀 AI revolution at Axel Springer's Welt 2/n 🚀 Fewer ties, more beards, and a woman (CEO Carolin Hulshoff Pol) as the boss: But apart from that, the photo below resembles an image that is missing from no WELT chronicle. In December 2012, Oliver Michalsky pressed the button that activated the paywall on Welt.de - the entry into the monetization of digital content through subscriptions, which is economically crucial for publishers. Yesterday, it was Jean Mikhail (left) who pressed the button - thus lifting WELTgo! onto the website. WELTgo!, the new AI-powered digital assistant, helps our users retrieve useful or otherwise interesting information in various topic areas. Interactive, personalized, of high quality through integration with the WELT archive - and completely free for WELT digital subscribers. Try it yourself: https://go.welt.de/ Feedback is welcome to me ([email protected]), product owner Moritz Seyffarth ([email protected]) or Martin Kohls ([email protected]).

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Journalists like to focus on things that are not going well. And rightly so. But at the same time, it's also valuable to highlight positive examples and recognize those who contribute to improving the world. That's exactly what Handelsblatt is doing with our current "Zukunftsausgabe" ("Future Edition"). Sebastian Matthes came up with the idea for a special issue that focus on "places of the future" – on companies, pioneers and communities that show what can be done if we stop complaining and start building. One sector that I find especially fascinating is #biotech. Nowhere else does technology improve our lives so directly. The oldest biotech company of the world is Genentech in South San Francisco, so right on my doorstep. It was exciting to visit the Roche subsidiaries' labs, to talk to CEO Ashley Magargee, lab chief Lluc Mosteiro and many others... The two founders (see picture below) could not have been more different: Robert Swanson was a venture capitalist; Herbert Boyer was a biochemist. In 1973, he was the first to show that #enzymes can be used as a kind of "scissors" to cut out and replace #DNA fragments: gene therapy was born. In the following decades, Genentech changed medicine with new procedures. And it has found a way to remain #innovative even after almost 50 years and with over 12,000 employees. How? Take a look at #Handelsblatt! And read the other stories of the "Future Edition", curated by Christian Rickens, too! Link in the comments.

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I talked to the famous #energy expert Daniel Yergin about what the #AI boom means for the energy transition. And you might not like what he has to say. “AI is a very hungry caterpillar” and it will take longer than planned to get rid off fossil fuels. He also has some advice for #Germany... Energie-Koryphäe Daniel Yergin: „Fossile Brennstoffe werden bis 2050 auf keinen Fall verschwinden“ -

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Beirat für Startups #34 Ein Beirat kann grundsätzlich für Startups von großem Vorteil sein. Wie immer, ist es eine Entscheidung, in der es auf den Einzelfall ankommt. 🛣 Einige Gründe hierzu behandele ich wöchentlich in meiner Beitragsreihe : Zum letzten Post der Reihe: https://lnkd.in/dfQsdEuf The Benefits of a Biotech Advisory Board 🧪🔬 As a leader in the biotech industry, I'm excited to share the advantages of having a strong advisory board with expertise in biotechnology. 💡 Cutting-Edge Insights 🔍 An advisory board composed of seasoned biotech professionals can provide invaluable, up-to-date insights into the latest industry trends, technological advancements, and regulatory changes. Their deep knowledge and experience can help guide your strategic decision-making and ensure your company stays ahead of the curve. 🧠 Specialized Expertise 🔬 Biotech advisory board members bring a wealth of specialized expertise across various disciplines, such as drug development, clinical trials, regulatory affairs, and commercialization. Their diverse backgrounds can help you navigate the complex and ever-evolving biotech landscape more effectively, ultimately driving your company's success. 🧪 Networking and Connections 🤝 A well-connected biotech advisory board can open doors to new partnerships, collaborations, and funding opportunities. Their extensive industry networks can introduce you to key stakeholders, potential investors, and strategic partners, expanding your reach and unlocking new avenues for growth. 🌐 Credibility and Validation 👍 Having respected biotech experts on your advisory board can significantly boost your company's credibility and validation in the eyes of investors, regulatory bodies, and potential partners. This can be particularly valuable when seeking funding, navigating the regulatory landscape, or engaging with industry leaders. 🏆 Objective Guidance 🧭 An advisory board provides an outside perspective and objective guidance, which can be invaluable in navigating complex business decisions. Their impartial insights can help you identify blind spots, mitigate risks, and make more informed choices that align with your company's long-term goals. 🧠 By leveraging the expertise and experience of a biotech advisory board, you can unlock a competitive edge, drive innovation, and accelerate your company's growth in the dynamic biotech industry. 🚀 #advisoryboard #board #scaleup

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AI: Hopes and Challenges for the Content Industry - that could have been the title of my recent tech column for the German edition of MIT Technology Review DE (if I had written it in English, article linked in the comments. Artificial intelligence (AI) is revolutionizing the content industry, particularly in the realm of #manga and #anime. While AI-generated images pose a significant challenge in terms of potential copyright infringements, they also offer hope for preserving cultural heritage and accelerating the creative process. The Japanese newspaper Nikkei examined over 90,000 images on popular AI platforms and found that in over 2,500 cases, the shared images resembled characters from well-known manga and anime series. This highlights the potential for economic damage through AI-generated copyright violations, especially for Japan's content industry. However, AI is not solely a tool for plagiarism. It can also serve as a creative assistant. Last year, an unknown artist developed and launched a manga using various AI tools, claiming to have completed the work in just six weeks instead of the usual twelve months. Additionally, the heirs of the late manga legend Osamu #Tezuka plan to use AI to create a new, posthumous episode of the famous "Black Jack" series, demonstrating how AI can help preserve cultural heritage while opening up new creative possibilities. Another company wants to unleash a flood of English manga by the help of AI translation. Furthermore, AI can accelerate the creative process, as demonstrated by the South Korean startup Toonsquare, a company focusing on webtoons. By using AI to convert sketches into sophisticated drawings and offering libraries of action and fight scenes, the company aims to reduce the working time for a webtoon from 60 to six hours. This showcases AI's potential to support artists and boost productivity. My ultimative question remains whether #AI will simply contribute to a greater quantity of content or if it will also enhance the quality of the works produced. For me, the jury is still out about the future of AI: I believe it has the potential to uplift mankind with its rise, or dumb it down, depending of the value system in which it is employed. More about this question in my interview with Kaname Hayashi, the founder of Groove X that I shared on Monday. (By the way, the image is AI generated, based on my vision, of course)

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Communication departments need to sharpen their profile Study reveals significant room for improvement in the perception and positioning of corporate communications A team of researchers from Leipzig University investigated the perception and positioning of communication departments in large companies. 1,147 top executives, middle managers, and employees without leadership responsibilities in Germany—the largest European country—were surveyed about their perceptions of the objectives, tasks, and relevance of their communication departments. The results show that there is still much room for improvement. Only 50% of top managers and 36% of middle managers are convinced that communicators' work helps them fulfill their tasks. Nearly every second manager doubts that the resources and budgets spent on communications in their own company are justified. A majority of all respondents call for communication departments to better explain what they do and how they create value. The study reveals possible courses of action. https://lnkd.in/dys_hE5y

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https://lnkd.in/etFBZHiq #Arteetude 257 is here! Join #DetlefSchlich and #Sophia as they unravel the transformative impact of writing on #humancognition and society. What started as #ancientpictographs became the foundation of #moderncommunication—and eventually, #thepathtoAI. Summary: In this thought-provoking episode, Detlef Schlich and his AI co-host Sophia explore the monumental cognitive leap of the invention of writing. From its humble beginnings as pictographs to the complex cuneiform scripts of Mesopotamia, writing forever changed how humanity stored, shared, and expanded knowledge. But this isn’t just a history lesson—it’s a journey into how these early innovations reshaped our brains and societies, setting the stage for AI as the next cognitive frontier. So welcome to Arteetude 257 – The Evolution of Writing: How Symbols Became the Seeds of AI. Together, they examine parallels between ancient milestones and today’s rapid technological advancements, all while teasing the intriguing possibility of a collective consciousness in humanity’s future. #Podcast #WritingHistory #HumanEvolution #AI #ArtificialIntelligence #Cognition #Neuroscience #Culture #ArtPodcast #WestCork #CollectiveConsciousness #TechEvolution #HistoryOfWriting #Mesopotamia #CreativeThinking #CognitiveLeap #DigitalAge #Chartitude #ArtAndTechnology #BrainEvolution #CulturalChange #InnovativeThinking #KnowledgeIsPower #Futurism #SilentReading #TechPodcast #GlobalCommunity #Inspiration #StoryOfWriting

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First the exodus of advertisers from Twitter, now the fleet/company car boycott of Tesla? German drugstore chain Dirk Rossmann GmbH says no more Teslas in its fleet, as Musk's support for a climate change denier in Trump doesn't fit what it's trying to achieve through electrification. The big surprise here is probably that it's taken so long for a corporate to publicly abandon Tesla. Given a core element of a firm going electric (as well as the fuel savings) is around ESG, doing that through a company led by a swivel-eyed loon advocating race war in Europe isn't exactly going to keep ticking the boxes. We all know what a driver fleet is of BEV adoption in many European markets. Plus, just as in the US, private BEV buyers aren't often found amongst the ranks of the far right. Just another Tesla headache. Time for the institutional investors (as the puppet board isn't going to do jack) to start making it clear Musk has to go as CEO? https://lnkd.in/eDwMj-Dn

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