Read this Friday's edition of the FolhaMercado newsletter (26) - 05/26/2023 - Market

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The plan to make cars cheaper

The Lula government announced this Thursday (25) the plan to reduce the prices of new popular cars in the country.

Final price cuts for vehicles will vary from 1.5% until 10.96% —the cheaper, the bigger the discount.

Understand: the IPI and PIS/Cofins reduction will apply only to vehicles up to BRL 120 thousand. In addition to price, the government says it will take into account two other factors to define the discount:

Energy efficiency;

National production.

The package with more details about the discounts should be announced in 15 days, when a provisional measure will be edited, said Vice President Geraldo Alckmin (PSB).

After all, how much will it change? The government and the automakers association say there is a possibility that the prices of the cheapest cars will fall below BRL 60 thousandas was President Lula’s initial idea.

See here how much the price of the 10 cheapest cars in the country can drop.

Reviews:

– Encouraging the automotive industry holds Brazil back in the past, with measures that go against the grain of combating the climate crisis, says Emanuel Ornelas, professor at FGV.

– When a left-wing government gives up collecting taxes to benefit those who have up to R$ 120,000 to buy a car, it sends a clear signal that the horrible Brazilian inequality will not fall any time soon, writes the special reporter of the Sheet Fernando Canzian.

– Thinking about the economy as a whole, this package of measures makes no sense, says columnist Bernardo Guimarães.

– Vinicius Torres Freire talks about who wins and who loses with Lula’s popular car plan, which barely exists.

Sam Altman project raises $115 million

Worldcoin, a project co-founded by Sam Altman, the CEO of the company that owns ChatGPT, received funding from $115 million (BRL 574 million) in a series C round.

The announcement was made this Thursday by Tools for Humanity, the company behind the project.

Understand: the project co-created by Altman has an idea as ambitious as it is controversial involving digital identity.

The objective is to collect the iris of all the inhabitants of the planet, who would receive Worldcoin cryptocurrency tokens in exchange.

This virtual currency would be used for payments worldwide, without the intermediation of governments – a common feature among cryptos.

Still in the testing phase, the project has already registered the iris of almost 2 million people, the company told CoinDesk. Worldapp, the first wallet for Worldcoin, was launched this month and is available for download in Brazil.

Investor Spencer Bogart, who led the funding round, said on twitter who first thought the Worldcoin idea was a dystopian nightmare, but who changed his mind after his team spent “hundreds of hours” evaluating the project.

“Worldcoin has a unique opportunity to establish and scale a new privacy preserve on the internet that allows any application to easily differentiate machines (robots) from humans.”

Three fronts: in addition to Worldcoin and OpenAI, Altman is also involved in another project, as recalled by columnist Ronaldo Lemos.

He is also behind Helion, a nuclear fusion company. The company promises next year to carry out the definitive test of the technology, capable of generating clean, cheap and unlimited energy.

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