Marketplace Tech

Marketplace Tech

Monday through Friday, Marketplace demystifies the digital economy in less than 10 minutes. We look past the hype and ask tough questions about an industry that's constantly changing.

  1. A battery farm in the Bronx could help clean up New York's power grid

    6 DAYS AGO

    A battery farm in the Bronx could help clean up New York's power grid

    One of the most powerful tools in the fight against climate change is the money sitting in investment portfolios - especially the trillions of dollars invested on behalf of public retirees. That’s money that could continue to fund fossil fuel development, or help pay for  climate solutions instead. New York City has implemented an ambitious Net Zero plan for its public pensions. That plan includes divesting from some fossil fuel companies and investing billions of dollars in climate solutions. One company benefiting from that investment is NineDot Energy.    Wedged between an elementary school and a big box shopping center in the Northeast Bronx, NineDot Energy is operating a battery farm that the city’s utility company, Con Ed, can call on to help relieve the grid when it gets overstressed. “The batteries hold a combined three megawatts of battery storage. That’s enough to power about 3,000 New York City households for four hours on a hot summer day. Last summer, the battery farm was called half a dozen times, which was enough to reduce greenhouse gas emissions by a combined 24 metric tons. That’s the equivalent of nine thousand car trips on the Cross Bronx Expressway. Currently, the city has the dirtiest energy grid in the state. More than 90% of its power comes from fossil fuels. NineDot Energy is still in growth mode, but battery farms like this could eventually help the grid transition to renewable sources, like wind and solar. “The sun only shines when nature tells it to; the wind only blows when nature tells it to, but people use electricity when they decide to,” explained Adam Cohen, co-founder of NineDot Energy. “A battery helps mediate that process. It pulls in the extra power when it's available, and then puts it back out when people call for it.”  On a recent visit to the Bronx facility, 12-year-old Virtue Onoja showed off a mural she helped paint along with other students from the elementary school across the street, envisioning a future powered by cleaner energy. “One thing about me, I'm definitely an artist,” she said. “I drew a clear blue sky, no pollution, no nothing [and] beautiful yellow flowers and the sun.” There are also drawings of windmills and electric school buses. “There's still a lot of pollution, not just in the Bronx, but just in New York in general,” Onoja said. “All of this is the goal that we want to achieve.” This is an excerpt from the latest season of How We Survive. Listen to the full episode here.

    4 min
  2. Bytes: Week in Review - OpenAI's for-profit troubles, FTC sues Uber and how VCs are weathering Trump tariffs

    25 APR

    Bytes: Week in Review - OpenAI's for-profit troubles, FTC sues Uber and how VCs are weathering Trump tariffs

    It's the last Friday in April and it's time for Marketplace Tech Bytes Week in Review. This week, we'll talk about how the Federal Trade Commission is suing Uber over its subscription service. Plus, how the VC world is navigating the uncertainty created by the trade war. But first, a nonprofit pivot is facing some challenges. Open AI, the maker of ChatGPT was founded about a decade ago as a nonprofit research lab. It's now looking to restructure as a for-profit — specifically, a public benefit corporation But that transformation is facing resistance. About 10 former Open AI employees, along with several Nobel laureates and other experts, have written an open letter asking regulators in California and Delaware to block the change. They argue that nonprofit control is crucial to Open AI's mission, which is to “ensure that artificial general intelligence benefits all of humanity." Marketplace’s Stephanie Hughes spoke with Jewel Burks Solomon, managing partner at Collab Capital, about how unusual it is to see this kind of conversion. YouTube Video of Marketplace Tech Bytes More on everything we talked about An Open Letter - Not For Private Gain Ex-OpenAI workers ask California and Delaware AGs to block for-profit conversion of ChatGPT maker - from the Associated Press OpenAI’s Latest Funding Round Comes With a $20 Billion Catch - from the Wall Street Journal FTC Takes Action Against Uber for Deceptive Billing and Cancellation Practices - from the Federal Trade Commission FTC sues Uber over difficulty of canceling subscriptions, “false” claims - from ArsTechnica White House Considers Slashing China Tariffs to De-Escalate Trade War - from the Wall Street Journal VC manufacturing deals were already declining before tariffs entered the picture - from Pitchbook

    13 min

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Monday through Friday, Marketplace demystifies the digital economy in less than 10 minutes. We look past the hype and ask tough questions about an industry that's constantly changing.

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