🥔 Chips and Chiplets

TOGETHER WITH

Tailwinds. That’s what they call it when you roll off a holiday weekend into a month end close! Let’s go fam!!

Keep Pushing Back
-Paul, Kyle, & Chris

P.S. Did we mention we really think you should check out MoreThanCars.tv!?

DEALERS

Boxes of Kindness

💪 The champions over at Cavender Auto are passing out kindness by the box full! 🏆

👟 The team delivered record-breaking 800+ shoeboxes filled with basic needs for families through the United Way Shoebox Program. 📦

🤝 It was a joint effort between the Cavender Toyota, Audi Dominion, Cavender Carquest, CAVCO Insurance, and Headquarters teams. 🙋🙋‍♀️🙋‍♂️

🙌 Owner, Rick Cavender, was pretty pumped to share the new record on LinkedIn, and we can see why. 👏

Telling it like it is - It is a special joy we see on the faces of the folks giving in these stories. Thanks for leading by example, Cavender Team! 😊

AUTOMOTIVE

Nvidia x MediaTek

More and more automakers are courting tech companies in an effort to keep up with increasingly complex digital demands being required of cars.

Leveraging this knowledge, Nvidia and MediaTek are coming together to create a powerhouse partnership, developing technology for advanced vehicle infotainment systems that utilize AI and enable features such as video streaming and gaming. 🕹️

Under the agreement, MediaTek will integrate an Nvidia graphic processing unit chiplet and Nvidia software into the system-on-chips it supplies to automakers for infotainment displays.

Vehicles utilizing MediaTek will become compatible with Nvidia-based automated driving systems and dashboard displays, and expand Nvidia's reach in the $12B infotainment system-on-chip market. 💰

Telling it like it is - And here we thought system-on-chips was just what we call ourselves when it’s well past lunchtime and we’ve only eaten half a bag of Lay’s all day.

TOGETHER WITH RAMP

Spending Should Be The Easy Part…

Done dining and found a Rubik's cube instead of cash?

That's how complex managing business expenses feels without help!

Ramp ensures your money is easy to handle, and expense tracking is a breeze. Focus on travel, ad campaigns, or landing your next client; Let Ramp automate the drudgery, curb spending, and save time.

AUTOMOTIVE

Motor Morsels: Minivans, No Thanks, Canadian Lightning, Fixin’, HELP, and Scouting The Market

🚙🍦😎

Make Minivans Cool! Why did the minivan go out of style in Europe? It got overshadowed by crossovers, SUVs, and small passenger vans. So automakers had to transform them or say goodbye. But there's hope for the minivan's electric comeback with the VW ID Buzz.

👎⛽️☁️

"Wait... these new rules apply to us??" Renault's CEO is worried about the proposed Euro 7 emissions rules. Good thing Italy is opposing them, aligning with the industry's fight. Discussions are happening to tighten vehicle emission limits in the EU.

🇨🇦🚌⚡️

Electric Moose. Canada is going green with a CA$1.9B investment in 1,229 electric buses. Ten transit organizations are getting on board for a 100% electric fleet. Nova Bus will manufacture the buses, supporting the local economy and the environment.

🧑‍🔧🤕🛠️

Should you "fix" it if it ain't broke? Ford might ditch haggling and set fixed vehicle prices in hopes of improving the customer experience. They're also focusing on iconic cars and cutting investment in hypercompetitive segments.

👮‍♀️🆘📻

As long as they don't tell anybody how fast I was going... Stellantis is revolutionizing vehicle safety with systems like EVAS and HELP. These use connectivity and technology to warn drivers about emergencies and disabled vehicles, making the roads safer.

🔭🚙🤺

Scouting out the truck battlefield. Volkswagen plans to relaunch the Scout brand as an American off-road electric vehicle. They want a bigger share of the SUV and pickup truck market, challenging GM and Ford. With a new plant in South Carolina and American branding, they're ready to roll.

CULTURE

Debt Ceiling Debrief

On Sunday, President Biden and House Speaker Kevin McCarthy approved a deal to temporarily suspend the debt ceiling and impose spending limits to prevent a default.

The agreement suspends the $31.4T debt ceiling until January 1, 2025, allowing the government enough time to (hopefully) catch up on its bills. Though it still has to pass the US House and Senate before being finalized, here is a bit of what’s currently included in the bill:

📜 Defense spending will increase to $886B, a 3% increase from the current budget.

📜 New rules will make it easier for energy projects to gain permit approval.

📜 Unused COVID relief funds, estimated to be between $50-$70B, will be reallocated to other funding and assistance programs.

📜 A budgeting system called "PAYGO” will be instituted, requiring all new government actions affecting revenues and spending to be offset by savings (why hasn’t this always been a requirement??)

📜 No changes to Medicaid, but stricter work requirements for low-income individuals receiving food assistance.

📜 Student loan repayments and interest to begin again by late August (though the plan to forgive $430B in student debt is still under review by the Supreme Court).

Telling it like it is - Oh, the classic debt ceiling debacle. A delicate mix of a little compromise and a lot of kicking the can down the road. 🥫

Quick Hits

• The highly anticipated live-action remake of The Little Mermaid made $118M in its opening weekend. 🧜🏻‍♀️

• State Farm will no longer provide homeowners insurance to new Californians due to wildfires and rising construction costs. 🔥

• The series finale of HBO’s Succession ended on a blistering and brilliant note of backstabbing. 🔪

History

• 1806: Future US President Andrew Jackson kills Charles Dickinson in a duel after Dickinson accused him of cheating on a horse race and insulting his wife. ⚔️

• 1868: Decoration Day, later renamed Memorial Day, is first observed in the Northern US. 🎖️

• 1967: On his motorcycle, daredevil Robert "Evel" Knievel jumps sixteen cars in Gardena, California. 🏍️