Author: Truth & Hammer

  • End to China trade war could bring back Apple’s $1 trillion valuation

    End to China trade war could bring back Apple’s $1 trillion valuation

    Wedbush Securities analyst Daniel Ives thinks that a resolution to the burgeoning trade war between China and the U.S. would bump Apple back up to $1 trillion in value.

    Apple is currently trading at $191.33. Another $28 a share would take Apple back to the 13 figure milestone it managed last year. In a note to investors, Ives noted that a resolution to the trade war would, “take away the primary China risk which is a dark cloud over the stock now.”

    Ives thinks that Apple is currently the safest of the FAANG stocks, which also include Facebook, Amazon, Netflix and Google. That’s because it is unlikely, in his view, to be hit with a successful antitrust case. Recently, I broke down some of the potential monopoly arguments which could be made about big tech. Apple does not appear to contravene them.

    The only thing Ives thinks could hurt Apple would be the U.S. increasing tariffs on China. This could be a “game changer” for the company, and cause it to increase the price of iPhones. However, multiple suppliers are currently working to de-risk this by moving manufacturing out of China. Foxconn, which assembles many of Apple’s products, has said that it could produce all U.S. iPhones outside China. Apple made history like summer

    Apple hit the $1 trillion milestone last summer. This made it the world’s first public company to reach this valuation. Since then, both Microsoft and Amazon have also achieved this benchmark.

    In May, it was reported that Apple had returned to $1 trillion+ in market cap. However, this was incorrect: the result of misinformation about the number of outstanding shares. Due to Apple’s share buyback program, there were fewer shares around. As a result, they had to hit a higher valuation to take Apple into $1 trillion territory.

    Going by Apple’s current trading price, the company is valued at $876.6 billion.

    This content was originally published here.

  • Government Running Biggest Budget Deficit in History

    Government Running Biggest Budget Deficit in History

    If you were thinking federal government spending might slow down a bit after the national debt crossed the $22 trillion mark – well, it didn’t.

    Last month, the federal budget deficit came in at $208 billion, according to Treasury Department data. It was the largest May deficit in history.

    Uncle Sam spent $440 billion last month, up 21% year-on-year. Receipts increased to $232 billion, up 7% from May 2018.

    There were some calendar effects that shifted about $50 billion in payments from June into May. Even so, the May deficit reflects a broader trend. The deficit for the fiscal year to date stands at $739 billion. That compares with $532 billion through the same period in fiscal 2018 — a 38.8% increase.

     


    Mike Adams exposes the agenda of the private Fed as a war against the prosperity of Americans that simply want to make America great.

    The current budget deficit is well ahead of Congressional Budget Office projections. The CBO estimated the 2019 budget deficit (government spending over revenue) would come in at $897 billion. That would be a 15.1% increase over the 2018 deficit of $779 billion.  (If you’re wondering how the debt can grow by a larger number than the annual deficit, economist Mark Brandly explains here.) According to the CBO, the deficit will hit $1 trillion by 2022 and remain at that level or higher through 2029. Keep in mind, the CBO tends toward conservative projections. At the current rate, the federal government may well run a $1 trillion deficit this year. In fact, the Treasury Department’s deficit projection for fiscal 2019 was higher than the CBO’s, coming in at $1.085 trillion.

    Commentators tend to place the blame for surging deficits on Trump tax cuts, but spending is the biggest factor. For the first time in US history, the federal government spent more than $3 trillion in the first eight months of the fiscal year. Spending is up 9.3% on the year so far.

    Although the economy is supposedly in the midst of a boom, US government borrowing looks more like we’re in the midst of a deep recession. The only other time the federal government has run deficits this high was during the four years from 2009 through 2012 when the Obama administration boosted spending to grapple with the 2008 financial crisis.

    Meanwhile, revenues have risen modestly by 2.3%.

    The boost in receipts last month came primarily from Trump’s tariffs. Gross tax revenues from corporations fell to $6 billion in May from $7 billion a year earlier.

     

    (Photo by Henry Han / Wiki)

     

    As the debt spirals upward, the cost of servicing that debt goes up as well. Interest on the $22 trillion-plus national debt ranks as one of the fastest growing budget items.  Net interest payments totaled $268.3 billion last month, up 15.6% from a year ago.

    Growing debt coupled with soaring interest payments creates a vicious upwardly spiraling cycle. As debt grows, it costs more money to service it. That requires more borrowing, which adds to the debt, which increases the interest payments — and on and on it goes. At the current trajectory, the cost of paying the annual interest on the US debt will equal the annual cost of Social Security within 30 years, according to a report released by the Congressional Budget Office last year.

    The enormous US debt is an underlying reason why the Federal Reserve cannot normalize interest rates.

    Republicans insist that tax cuts will eventually pay for themselves by generating faster economic growth But as we have said repeatedly, high levels of debt retard economic growth. Several studies estimate that economic growth slows by about 30% when the debt to GDP ratio rises to about 90%. The CBO projects the US will hit 106% debt to GDP ratio in the next decade, but many analysts say the US economy is already in the 105% range. Ever since the US national debt exceeded 90% of GDP in 2010, inflation-adjusted average GDP growth has been 33% below the average from 1960–2009, a period that included eight recessions.

    And yet the politicians and bureaucrats in Washington D.C. have absolutely no intention of addressing the spending issue. They just keep kicking the can down the road. Of course, at some point, the will run out of road.

     

    This content was originally published here.

  • Economists find no hope in Uganda’s 2019/20 budget

    Economists find no hope in Uganda’s 2019/20 budget

    Senior Economists have indicated that Uganda’s 2019/20 budget that was read by the Finance Minister Matia Kasaija on Thursday evening predicts no bright future for Uganda going forward.

    Dr. Fred Muhumuza, a Former Senior Economist at the Ministry of Finance and now working at the Makerere University-based Economic Policy Research Centre (EPRC) said that since in the budget, there was less money put into the agriculture sector, which is Uganda’s backbone and employs the majority of the people, industrialization for job creation and shared prosperity cannot be achieved.

    “You can’t continue to do the same thing over and over again and expect different results. It’s a structural issue, not a budget issue.

    “The reason being given to us for putting too much money in infrastructure development is to bring down the cost of doing business, has the cost of doing business ever gone down? Is the price of electricity down?

    “Without investing more money in Agriculture where the majority of the population is, there will never be a transformation in Uganda,” said Muhumuza at a budget breakfast that was organized by Ernst and Young to shed more light on Uganda’s 2019/20 Budget at Kampala Serena Hotel.

    Finance Minister Matia Kasaija, under the theme “Industrialization for job creation and shared prosperity” read a Ushs40.487 Trillion ($10.81b) budget where about Ush6.46 trillion was allocated to the Ministry of Works and Transport, Education and Sports (Ush3.3 Trillion), Energy and Minerals (Ush3 Trillion), Health (Ush2.6 Trillion) and Security (Ush3.6 Trillion).

    Agriculture ranked eleventh among the top earners in the budget at Ush1.052 trillion or 3.2% of the total budget.
    Agriculture ranked eleventh among the top earners in the budget at Ush1.052 trillion or 3.2% of the total budget.

    Agriculture ranked eleventh among the top earners in the budget at Ush1.052 trillion or 3.2% of the total budget. This, according to Muhumuza is too little to have an impact or transform Uganda into a middle-income country.

    In the Budget, Uganda Revenue Authority is targeted to collect revenue of Ush20.895 Trillion or ($5.58b) which is 51.6% of the total resource envelope.

    Ushs12.2 trillion will be raised through internal and external borrowings while the remaining Ushs7.3 Trillion covering 18.1% will be obtained from General Budget Support, General Re-financing and Appropriation in aid.

    Gideon Badagawa the Executive Director Private Sector Foundation Uganda (PSFU) who was also among the discussants of budget and tax highlights, noted that the target to generate 600,000 jobs per through industrialization can’t be attained at a 6.1% growth rate.

    “If the country wants to attain that, maybe in 400years at a 25% growth rate. That’s when the GDP per Capita of $9000 per person per year can be attained. The World Bank also estimates that Uganda can only reach lower middle-income status at a growth rate of 12% sustained for not less than 10 consecutive years,” said Badagawa.

    Badagawa also advised all concerned to get politics out of leadership and get leadership into politics.

    VG Somasekhar, the Managing Director of Airtel Uganda also discussed the progress of the telecom industry last year, where he said that they experienced the worst growth in a number of years.

    “The mobile money tax wiped out almost a year’s growth progress. 35% of all the mobile money agents left the business,” said Somasekhar.

    The post Economists find no hope in Uganda’s 2019/20 budget appeared first on East African Business Week.

    This content was originally published here.

  • India and Brexit: How New Delhi Can Position Itself to Maximize Benefit | The Diplomat

    India and Brexit: How New Delhi Can Position Itself to Maximize Benefit | The Diplomat

    The United Kingdom’s planned exit from the European Union, Brexit, keeps getting messier by the month. It led Theresa May to resign, just like David Cameron before her. It may end up making Boris Johnson the U.K.’s next prime minister, or be the cause of him facing judicial consequences. Brexit also led to the creation of the Brexit party, which got the largest vote share in recent European elections. So we now have British representatives in the EU who don’t want to be there. As of now, it shows no signs of getting better for the U.K.

    What does this mean for India and why does it matter? The short answer is that Brexit may end up being good for India’s relations with the U.K. and the EU. The long answer, however, is a bit more complex. To get there, let’s put Brexit into context for India.

    India and the U.K. share strong trade relations. There is a sizable Indian diaspora in Britain, which means India receives a lot of remittances from the U.K. As per previous estimations, the U.K. sends approximately $4 billion to India through formal and informal channels. Indians are among the most common non-British nationalities in the U.K., with 832,000 residents. India sees the U.K. as a lucrative market in itself and a gateway to the European Union. Between 2000 and 2018, total foreign direct investment (FDI) that flowed into India from all channels from the U.K. is estimated at $50.57 billion. Of this, the U.K. directly invested $26.09 billion in India – increasing its investment by $847 million between 2017 and 2018 – representing 7 percent of all FDI coming into the country.

    India also shares strong relations with the EU that could be developed further. The EU is India’s largest trading partner and India was the EU’s ninth largest trading partner in 2015. The EU accounted for 92 billion euros worth of trade in goods in 2018 or 12.9 percent of total Indian trade, ahead of China (10.9 percent) and the United States (10.1 percent). The EU is also a leading destination of choice for Indian exports. Eighteen percent of total Indian exports are to the EU. The relationship is set to become stronger as both parties have been considering entering into a free trade agreement, which would reduce tariffs and barriers to bilateral trade.

    How is Brexit likely to affect India’s economic relations with both these parties? A lot of it depends on whether there is a “soft” Brexit or a “hard” Brexit. In simpler terms, it depends on whether or not the U.K. leaves the single market. The EU imported around 44 percent of U.K. exports in goods and services in 2017 — 274 billion British pounds’ worth, out of 616 billion pounds of total exports. Should the U.K. leave the single market, it may have to look for other buyers for its goods and services. In a post-Brexit world, India could benefit from this. South Korea did exactly that recently, by agreeing to sign a free trade deal with the U.K. The timing is no coincidence. The U.K. needs trading partners and leaving the single market will give London strong incentive to expand in markets elsewhere, particularly the Commonwealth.

    India is one of the biggest economies in the bloc and has strong trade relations with the U.K. Moreover, Brexit may devalue the pound, which could be a boost to trade volumes between India in the U.K., providing a strong base to build upon. The timing is also ripe for India, with a new government coming in. A flagship trade deal with the U.K. would serve as great news in times where trade wars dominate the news. This is not to say that an FTA is the only way to go. Another feature of Brexit may be that European labor workers might need to leave the EU or stay on different visa requirements should Brexit turn out this way. India could also take advantage of this to incentivize movement of labor between the two countries.

    A hard/soft Brexit could also mean stronger ties between India and the EU. With the U.K.’s departure, the EU is likely to want to fill that economic gap. As far as trade with India is concerned, the first order of business might be to work toward finalizing the free trade agreement. If the U.K. can no longer serve as a gateway to Europe, Indian companies might also consider diversifying their current investments in London. An attractive destination could be Ireland, because of its close proximity to the U.K. and membership to the EU. This could also mean investments in other EU trade capitals, such as Frankfurt and Paris. Doing so would benefit the EU as a bloc in a post-Brexit world.

    While the full impact of Brexit spans across sectors, the changing nature of the U.K.’s involvement in the single market is what India should be concerned with. While trade relations between India and the EU/U.K. have been strong historically, Brexit could be the catalyst that makes them stronger. As the EU and the U.K. both look for new trade opportunities elsewhere, India could emerge as a beneficiary of this new arrangement. The reshuffle that Brexit brings with it is something the Indian economy should welcome, soft Brexit or otherwise.

    Rohan Seth is a project manager at the Takshashila Institution.

    This content was originally published here.

  • Fiverr shares climb 90% in first day of trading – TechCrunch

    Fiverr shares climb 90% in first day of trading – TechCrunch

    Freelance marketplace Fiverr had a good first day on the New York Stock Exchange.

    The company priced its IPO at $21 per share last night, raising around $111 million. It then started trading this morning at $26, with shares climbing for most of the day and closing at $39.90 — up 90% from the IPO price.

    Fiverr is one of the most well-known companies facilitating the so-called gig economy. When it filed to go public last month, the company said it has facilitated 50 million transactions between 5.5 million buyers and 830,000 freelancers.

    Investors seem willing to bet on the company despite the fact that it’s losing money, reporting a net loss of $36.1 million on revenue of $75.5 million in 2018. In an interview this afternoon, founder and CEO Micha Kaufman noted that the company’s negative EBITDA is shrinking (at least when you compare the first quarter of 2019 to Q1 2018).

    “We are on the path to profitability,” Kaufman said. “That’s the balance we’re trying to keep — focusing on growth while building a business that would be profitable in the long term.”

    I’ll have a full story on our interview tomorrow morning.

    This content was originally published here.

  • Joe Biden’s fight with Amazon sums up battle over corporate taxes

    Joe Biden’s fight with Amazon sums up battle over corporate taxes

    This was not the result Republicans were going for when they drove the overhaul of the tax code through Congress two years ago with party-line votes in both chambers. The legislation, which President Donald Trump signed into law in late 2017, lowered the corporate tax rate from 35% to 21% and allowed companies to immediately expense their capital investments.

    On the flip side, the new law offset some of the cost of those cuts by requiring companies to pay taxes on overseas earnings, a move intended to incentivize investing in America instead.

    Republicans touted the tax cut as fuel for a new era of prolonged economic growth that would eventually cover the cost of not only the corporate rate cuts, but also steep reductions in individual tax rates.

    That scenario has yet to materialize. GDP has surpassed projections by continuing to grow at a 3% rate. But it has come at a price: ballooning deficits and dwindling corporate tax revenue.

    The Congressional Budget Office estimates the deficit to be $738 billion so far this fiscal year, up nearly 39% from the same period last year. Corporate tax receipts were down $11 billion, or nearly 9%.

    “Well that’s what happens when you cut the rate by 40%,” said William Gale, co-director of the nonpartisan Urban-Brookings Tax Policy Center. “You would need heroic growth to make up the difference.”

    But the pace of decline has been taken even the experts by surprise. As recently as January, the CBO had projected that corporate tax revenue would rebound this year, as some of the immediate benefits of the new law wore off.

    Instead, the opposite has occurred, and no one is really sure why.

    “Corporate revenue has fallen off a cliff faster than I think anyone has anticipated,” said Seth Hanlon, senior fellow at the Center for American Progress and a former adviser to President Barack Obama.

    Perhaps it’s because companies have not repatriated their overseas profits as quickly as forecast. Maybe tariffs are reducing corporate income and thereby lowering corporate tax receipts. (Side note: Revenue from customs duties are up more than 80 percent this year to nearly $45 billion.)

    No matter the reason, the numbers add up to a giant headache for Republicans and a guarantee that cases like Amazon will remain political punching bags well into the 2020 election.

    Correction: This story was updated to reflect correct deficit and corporate tax receipt data for the fiscal year.

    This content was originally published here.

  • Physicists See a Quantum Leap, Halt It, and Reverse It | WIRED

    Physicists See a Quantum Leap, Halt It, and Reverse It | WIRED

    When quantum mechanics was first developed a century ago as a theory for understanding the atomic-scale world, one of its key concepts was so radical, bold and counter-intuitive that it passed into popular language: the “quantum leap.” Purists might object that the common habit of applying this term to a big change misses the point that jumps between two quantum states are typically tiny, which is precisely why they weren’t noticed sooner. But the real point is that they’re sudden. So sudden, in fact, that many of the pioneers of quantum mechanics assumed they were instantaneous.

    Quanta Magazine

    Original story reprinted with permission from Quanta Magazine, an editorially independent publication of the Simons Foundation whose mission is to enhance public understanding of science by covering research develop­ments and trends in mathe­matics and the physical and life sciences.

    A new experiment shows that they aren’t. By making a kind of high-speed movie of a quantum leap, the work reveals that the process is as gradual as the melting of a snowman in the sun. “If we can measure a quantum jump fast and efficiently enough,” said Michel Devoret of Yale University, “it is actually a continuous process.” The study, which was led by Zlatko Minev, a graduate student in Devoret’s lab, was published on Monday in Nature. Already, colleagues are excited. “This is really a fantastic experiment,” said the physicist William Oliver of the Massachusetts Institute of Technology, who wasn’t involved in the work. “Really amazing.”

    But there’s more. With their high-speed monitoring system, the researchers could spot when a quantum jump was about to appear, “catch” it halfway through, and reverse it, sending the system back to the state in which it started. In this way, what seemed to the quantum pioneers to be unavoidable randomness in the physical world is now shown to be amenable to control. We can take charge of the quantum.

    All Too Random

    The abruptness of quantum jumps was a central pillar of the way quantum theory was formulated by Niels Bohr, Werner Heisenberg and their colleagues in the mid-1920s, in a picture now commonly called the Copenhagen interpretation. Bohr had argued earlier that the energy states of electrons in atoms are “quantized”: Only certain energies are available to them, while all those in between are forbidden. He proposed that electrons change their energy by absorbing or emitting quantum particles of light—photons—that have energies matching the gap between permitted electron states. This explained why atoms and molecules absorb and emit very characteristic wavelengths of light—why many copper salts are blue, say, and sodium lamps yellow.

    Bohr and Heisenberg began to develop a mathematical theory of these quantum phenomena in the 1920s. Heisenberg’s quantum mechanics enumerated all the allowed quantum states, and implicitly assumed that jumps between them are instant—discontinuous, as mathematicians would say. “The notion of instantaneous quantum jumps … became a foundational notion in the Copenhagen interpretation,” historian of science Mara Beller has written.

    Another of the architects of quantum mechanics, the Austrian physicist Erwin Schrödinger, hated that idea. He devised what seemed at first to be an alternative to Heisenberg’s math of discrete quantum states and instant jumps between them. Schrödinger’s theory represented quantum particles in terms of wavelike entities called wave functions, which changed only smoothly and continuously over time, like gentle undulations on the open sea. Things in the real world don’t switch suddenly, in zero time, Schrödinger thought—discontinuous “quantum jumps” were just a figment of the mind. In a 1952 paper called “Are there quantum jumps?,” Schrödinger answered with a firm “no,” his irritation all too evident in the way he called them “quantum jerks.”

    The argument wasn’t just about Schrödinger’s discomfort with sudden change. The problem with a quantum jump was also that it was said to just happen at a random moment—with nothing to say why that particular moment. It was thus an effect without a cause, an instance of apparent randomness inserted into the heart of nature. Schrödinger and his close friend Albert Einstein could not accept that chance and unpredictability reigned at the most fundamental level of reality. According to the German physicist Max Born, the whole controversy was therefore “not so much an internal matter of physics, as one of its relation to philosophy and human knowledge in general.” In other words, there’s a lot riding on the reality (or not) of quantum jumps.

    Seeing Without Looking

    To probe further, we need to see quantum jumps one at a time. In 1986, three teams of researchers reported them happening in individual atoms suspended in space by electromagnetic fields. The atoms flipped between a “bright” state, where they could emit a photon of light, and a “dark” state that did not emit at random moments, remaining in one state or the other for periods of between a few tenths of a second and a few seconds before jumping again.

    Since then, such jumps have been seen in various systems, ranging from photons switching between quantum states to atoms in solid materials jumping between quantized magnetic states. In 2007 a team in France reported jumps that correspond to what they called “the birth, life and death of individual photons.”

    In these experiments the jumps indeed looked abrupt and random—there was no telling, as the quantum system was monitored, when they would happen, nor any detailed picture of what a jump looked like. The Yale team’s setup, by contrast, allowed them to anticipate when a jump was coming, then zoom in close to examine it. The key to the experiment is the ability to collect just about all of the available information about it, so that none leaks away into the environment before it can be measured. Only then can they follow single jumps in such detail.

    The quantum systems the researchers used are much larger than atoms, consisting of wires made from a superconducting material—sometimes called “artificial atoms” because they have discrete quantum energy states analogous to the electron states in real atoms. Jumps between the energy states can be induced by absorbing or emitting a photon, just as they are for electrons in atoms.

    Michel Devoret (left) and Zlatko Minev in front of the cryostat holding their experiment.
    Yale Quantum Institute

    Devoret and colleagues wanted to watch a single artificial atom jump between its lowest-energy (ground) state and an energetically excited state. But they couldn’t monitor that transition directly, because making a measurement on a quantum system destroys the coherence of the wave function—its smooth wavelike behavior—on which quantum behavior depends. To watch the quantum jump, the researchers had to retain this coherence. Otherwise they’d “collapse” the wave function, which would place the artificial atom in one state or the other. This is the problem famously exemplified by Schrödinger’s cat, which is allegedly placed in a coherent quantum “superposition” of live and dead states but becomes only one or the other when observed.

    To get around this problem, Devoret and colleagues employ a clever trick involving a second excited state. The system can reach this second state from the ground state by absorbing a photon of a different energy. The researchers probe the system in a way that only ever tells them whether the system is in this second “bright” state, so named because it’s the one that can be seen. The state to and from which the researchers are actually looking for quantum jumps is, meanwhile, the “dark” state—because it remains hidden from direct view.

    The researchers placed the superconducting circuit in an optical cavity (a chamber in which photons of the right wavelength can bounce around) so that, if the system is in the bright state, the way that light scatters in the cavity changes. Every time the bright state decays by emission of a photon, the detector gives off a signal akin to a Geiger counter’s “click.”

    The key here, said Oliver, is that the measurement provides information about the state of the system without interrogating that state directly. In effect, it asks whether the system is in, or is not in, the ground and dark states collectively. That ambiguity is crucial for maintaining quantum coherence during a jump between these two states. In this respect, said Oliver, the scheme that the Yale team has used is closely related to those employed for error correction in quantum computers. There, too, it’s necessary to get information about quantum bits without destroying the coherence on which the quantum computation relies. Again, this is done by not looking directly at the quantum bit in question but probing an auxiliary state coupled to it.

    The strategy reveals that quantum measurement is not about the physical perturbation induced by the probe but about what you know(and what you leave unknown) as a result. “Absence of an event can bring as much information as its presence,” said Devoret. He compares it to the Sherlock Holmes story in which the detective infers a vital clue from the “curious incident” in which a dog did not do anything in the night. Borrowing from a different (but often confused) dog-related Holmes story, Devoret calls it “Baskerville’s Hound meets Schrödinger’s Cat.”

    To Catch a Jump

    The Yale team saw a series of clicks from the detector, each signifying a decay of the bright state, arriving typically every few microseconds. This stream of clicks was interrupted approximately every few hundred microseconds, apparently at random, by a hiatus in which there were no clicks. Then after a period of typically 100 microseconds or so, the clicks resumed. During that silent time, the system had presumably undergone a transition to the dark state, since that’s the only thing that can prevent flipping back and forth between the ground and bright states.

    So here in these switches from “click” to “no-click” states are the individual quantum jumps—just like those seen in the earlier experiments on trapped atoms and the like. However, in this case Devoret and colleagues could see something new.

    Before each jump to the dark state, there would typically be a short spell where the clicks seemed suspended: a pause that acted as a harbinger of the impending jump. “As soon as the length of a no-click period significantly exceeds the typical time between two clicks, you have a pretty good warning that the jump is about to occur,” said Devoret.

    That warning allowed the researchers to study the jump in greater detail. When they saw this brief pause, they switched off the input of photons driving the transitions. Surprisingly, the transition to the dark state still happened even without photons driving it—it is as if, by the time the brief pause sets in, the fate is already fixed. So although the jump itself comes at a random time, there is also something deterministic in its approach.

    With the photons turned off, the researchers zoomed in on the jump with fine-grained time resolution to see it unfold. Does it happen instantaneously—the sudden quantum jump of Bohr and Heisenberg? Or does it happen smoothly, as Schrödinger insisted it must? And if so, how?

    The team found that jumps are in fact gradual. That’s because, even though a direct observation could reveal the system only as being in one state or another, during a quantum jump the system is in a superposition, or mixture, of these two end states. As the jump progresses, a direct measurement would be increasingly likely to yield the final rather than the initial state. It’s a bit like the way our decisions may evolve over time. You can only either stay at a party or leave it—it’s a binary choice—but as the evening wears on and you get tired, the question “Are you staying or leaving?” becomes increasingly likely to get the answer “I’m leaving.”

    The techniques developed by the Yale team reveal the changing mindset of a system during a quantum jump. Using a method called tomographic reconstruction, the researchers could figure out the relative weightings of the dark and ground states in the superposition. They saw these weights change gradually over a period of a few microseconds. That’s pretty fast, but it’s certainly not instantaneous.
    What’s more, this electronic system is so fast that the researchers could “catch” the switch between the two states as it is happening, then reverse it by sending a pulse of photons into the cavity to boost the system back to the dark state. They can persuade the system to change its mind and stay at the party after all.

    Flash of Insight

    The experiment shows that quantum jumps “are indeed not instantaneous if we look closely enough,” said Oliver, “but are coherent processes”: real physical events that unfold over time.

    The gradualness of the “jump” is just what is predicted by a form of quantum theory called quantum trajectories theory, which can describe individual events like this. “It is reassuring that the theory matches perfectly with what is seen” said David DiVincenzo, an expert in quantum information at Aachen University in Germany, “but it’s a subtle theory, and we are far from having gotten our heads completely around it.”

    The possibility of predicting a quantum jumps just before they occur, said Devoret, makes them somewhat like volcanic eruptions. Each eruption happens unpredictably, but some big ones can be anticipated by watching for the atypically quiet period that precedes them. “To the best of our knowledge, this precursory signal [to a quantum jump] has not been proposed or measured before,” he said.

    Devoret said that an ability to spot precursors to quantum jumps might find applications in quantum sensing technologies. For example, “in atomic clock measurements, one wants to synchronize the clock to the transition frequency of an atom, which serves as a reference,” he said. But if you can detect right at the start if the transition is about to happen, rather than having to wait for it to be completed, the synchronization can be faster and therefore more precise in the long run.

    DiVincenzo thinks that the work might also find applications in error correction for quantum computing, although he sees that as “quite far down the line.” To achieve the level of control needed for dealing with such errors, though, will require this kind of exhaustive harvesting of measurement data—rather like the data-intensive situation in particle physics, said DiVincenzo.

    The real value of the result is not, though, in any practical benefits; it’s a matter of what we learn about the workings of the quantum world. Yes, it is shot through with randomness—but no, it is not punctuated by instantaneous jerks. Schrödinger, aptly enough, was both right and wrong at the same time.

    Original story reprinted with permission from Quanta Magazine, an editorially independent publication of the Simons Foundation whose mission is to enhance public understanding of science by covering research developments and trends in mathematics and the physical and life sciences.

    More Great WIRED Stories

    This content was originally published here.

  • Johnny Depp Signs With Global Artist Management, Nothing Matters | The Mary Sue

    Johnny Depp Signs With Global Artist Management, Nothing Matters | The Mary Sue

    Talking about Johnny Depp is a complicated game. He’s currently going through lawsuits against his ex-wife, Amber Heard, for defamation over her account of alleged assault. While we don’t know the truth of the case or really what is going on with it, one thing that is frustrating is Depp’s continual presence on our screens. Now, he’s signed with Global Artist Management to make sure he’s everywhere else in our entertainment world, too, as they’ll handle the non-film parts of his career.

    He continues to work and hasn’t stopped since these allegations have come out against him, and he’s even had some disappointing high-profile defenders. We’ve continually seen Depp in movie after movie, and now his band, Hollywood Vampires, has a new record coming out, which honestly just feels like too much.

    According to Deadline,

    Hollywood Vampires is releasing their second album Rise on June 21st which features Depp on lead vocals on the recently released single “Heroes”, a cover the David Bowie track. The band recently completed a triumphant seven-city North American tour which included a sell-out show at the famous Greek Theatre in Los Angeles and were voted “best performance” of 2018 at London’s Wembley Arena. Depp is embarking on a PR tour with the Hollywood Vampires and will be performing “Heroes” with the band on Jimmy Kimmel Live on June 19.

    The back-and-forth of Depp and Heard’s legal battles has been confusing at times, but what I truly don’t understand is why there seems to be an influx of Johnny Depp content since all of this has come out. It’s as if Hollywood (and now the music industry) is giving him more and more support despite the allegations against him.

    Sure, I guess innocent until proven guilty, but I’d think there would be a bit more trepidation surrounding jumping on board with Johnny Depp.

    (via Deadline, image: John Phillips/Getty Images)

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    This content was originally published here.

  • ‘Baywatch’ Actress Kelly Rohrbach Marries Walmart Heir Steuart Walton | TMZ.com

    ‘Baywatch’ Actress Kelly Rohrbach Marries Walmart Heir Steuart Walton | TMZ.com

    You can call Kelly Rohrbach Mrs. Baewatch now … although she’d probably prefer Mrs. Walton, because TMZ has learned she’s married into the freakin’ Walmart fortune!!!

    Some would say Steuart Walton is the one who hit the jackpot when he and the “Baywatch” actress tied the knot. Our sources say they did the deed down in Florida a couple of weeks ago.

    They’ve settled into married life well, apparently — we’re told they were spotted at a friend’s wedding recently … and both were sporting wedding bands.  

    Back in March, the happy couple was spotted grabbing coffee and she seemed ecstatic. The massive engagement diamond weighing down Kelly’s hand probably didn’t hurt her mood.

    Steuart and Kelly started dating about 2 years ago. Both attended Georgetown — she went for undergrad, and he went to the law school.

    His grandfather, Sam Walton, opened the first Walmart in 1962, and the fam’s net worth was about $163 BILLION in 2017 … when Bloomberg’s Index named them America’s richest family.

    Kelly — who used to date Leonardo DiCaprio and once went on a date with Packers QB Aaron Rodgers — was Rookie of the Year in 2015 for SI’s Swimsuit Edition.

    Yeah, this one’s a win-win, for sure. Congrats to the newlyweds!!!

    This content was originally published here.

  • Dude Who Married His Best Mate’s Mum Just To Piss Him Off Has Filed For Divorce – Sick Chirpse

    Dude Who Married His Best Mate’s Mum Just To Piss Him Off Has Filed For Divorce – Sick Chirpse

    A YouTuber who married his best friend’s mum just to troll him has filed for divorce just one month after tying the knot.

    Featured Image VIA

    22-year-old David Dobrik married his buddy Jason Nash’s mum Lorraine last month and broke the news to his mate and the world on Instagram:

    A post shared by DAVID DOBRIK (@daviddobrik) on

    He continued to troll Jason on Twitter:

    My friend told me I would never find love and get married. So I flew to his moms house and married her on the spot. Now that same friend is my stepson. True love always wins pic.twitter.com/OQ3p0ONGkV

    — DAVID DOBRIK (@DavidDobrik) May 18, 2019

    He was relentless in sharing photos and videos online:

    In all the history of pranks and trolls we’ve covered on this site I honestly don’t think I’ve ever heard of anyone taking a prank to this level. I mean it’s one thing to blackmail your pal over an embarrassing photo or secret, or to cover them in peanut butter when they have a severe peanut allergy, but to actually fly your buddy’s mum to Vegas and marry her? There’s really no comeback for that.

    The only question that remains is did David fuck Jason’s mum? You would have to assume so. OK she might be way older than him but if he was really trying to take the troll to the max, you have to think he shagged her on their wedding night at least.

    Still, it’s not as weird as the YouTuber who snogged his own sister on camera. Yikes.

    This content was originally published here.