News
The Iran conflict will be the 'straw that breaks the camel's back' of the U.S. economy if it goes on much longer, Nobel laureate Paul Krugman warns
4+ hour, 20+ min ago (414+ words) The U.S. economy has been on unsteady footing for a while now, but the catalyst to tip it over the edge could be an event playing out on the other side of the world. "It isn't occurring in isolation," Krugman wrote....
China just set its lowest economic growth target since 1991
14+ hour, 47+ min ago (794+ words) China has signaled continuity rather than change for its economy, setting a slightly lower target for growth this year in the midst of a property slump and other'headwinds at home'and growing uncertainty abroad. Premier Li Qiang announced a target of…...
Trump touts tariffs as a budget fix. But the brutal truth is ‘they’re very weak’ and barely dent the $39 trillion national debt
18+ hour, 10+ min ago (380+ words) As a revenue tool, they're very weak," Kyle Pomerleau, an international tax policy expert and a senior fellow at the American Enterprise Institute, told Fortune. They do raise some revenue, but just not enough to really move the needle one…...
Now, even six-figure earners say buying a house is unattainable—half of Americans can't even afford to eat out or go on vacation right now
20+ hour, 29+ min ago (449+ words) Many Americans are feeling the pinch as employees dish out low "peanut butter" raises, housing costs remain bleak, and grocery prices balloon to unaffordable highs. The cost of living crisis is spilling over into the lives of all Americans, even…...
A shiny new Fed Chairman will be keen to make an entrance with a base rate cut—yet the committee is only growing more hawkish due to Iran
1+ day, 51+ min ago (298+ words) But to deliver that cut would be no mean feat. Trump's military escapades with Israel in Iran are only likely to push an already skittish FOMC into a more hawkish stance, analysts believe. That's because the biggest economic fallout from…...
'The ideal number of human employees inside of any company is zero': why AI gives company owners what they think they want
1+ day, 1+ hour ago (667+ words) Daniel Miessler has spent 25 years in technology'advising Fortune 10 companies, building open-source security tools used by penetration testers worldwide, and leading cybersecurity operations at firms like Apple and Robinhood. But his most provocative argument isn't about malware or zero-day exploits. It's…...
The housing paradox: why banning institutional investors could make affordability worse
1+ day, 2+ hour ago (315+ words) Nationally, single-family renters are meaningfully younger than homeowners, averaging 43 years old compared to 54. Black and Hispanic households represent 40% of single-family renters but only 20% of homeowners, highlighting a clear divide in who rents versus who owns." These patterns are reinforced across…...
Top AI economist who found 'significant and disproportionate impact' on entry-level jobs finds link between robots and minimum wage hikes
1+ day, 14+ hour ago (443+ words) Erik Brynjolfsson has spent the last several years building one of the most detailed empirical pictures of how technology is reshaping the American workforce'and the picture keeps getting darker for workers at the bottom of the corporate ladder. Now, in…...
Famed investor Vinod Khosla predicts free AI labor will lead to an era of few jobs and great abundance
2+ day, 1+ hour ago (584+ words) Good morning. What will life be like in 2040? Pretty awesome, according to famed Silicon Valley investor Vinod Khosla. All of this is to say, Khosla's track record for accurately predicting the future has been pretty good. So I flew to…...
OpenAI investor Vinod Khosla predicts today’s five year olds won’t ever need to get jobs thanks to AI
2+ day, 2+ hour ago (617+ words) Billionaire investor Vinod Khosla sees an AI-powered labor transformation so massive it will eliminate the need for today's five year olds to have jobs. Khosla bet early on AI, and his venture capital firm Khosla Ventures was one of OpenAI's…...