Justine Bateman — the actor, filmmaker and author who is adviser on AI to SAG-AFTRA, the motion picture performers' union — told Axios' Ina Fried that AI is "not about solving problems for people. It's about money. It's about greed."
Driving the news: Speaking at Axios' AI+ Summit in San Francisco, Bateman drew a clear line on the use of generative AI in Hollywood, where SAG-AFTRA has been on strike since July, in part over disputes over AI-related rights.
Life insurance is boring, which is just what bitcoin needs, according to Zac Townsend, the CEO of Meanwhile.
Why it matters: Building classic financial services on newfangled digital assets is a road to building out crypto's original vision: An alternative financial system based on a monetary system that's not subject to the whims of politicians.
America's seniors continue to be a key driver of consumer spending.
Why it matters: Their spending power may play an important role in the resiliency of the economy, as Gen X, millennials and younger consumers slow down.
Disney's stock jumped 3% on Wednesday after the media giant beat analyst expectations on earnings and significantly reduced losses within its streaming division.
Why it matters: Disney is under enormous pressure from investors to make its streaming division profitable by its 2024 deadline.
A slew of companies that were wobbling when 2023 started have crashed into bankruptcy in recent weeks.
Why it matters: The pileup illustrates the real-world consequences of the end of the free-money era, when lower interest rates made financing a cinch, providing Band-Aids for problems and extending the lives of otherwise flawed operations.
Pity anybody who ever had to work for Ray Dalio. That's the main message of "The Fund," Rob Copeland's definitive history of Bridgewater, the hedge fund that was founded by Dalio and rose to become the largest in the world.
Why it matters: Beyond the fact that Copeland depicts Bridgewater as a terrible place to work, the big question is whether the psychological torture inflicted by Dalio was in any way necessary for the fund's investment returns. Per the book, the answer seems to be a resounding "no."
Black Friday and Cyber Monday sales aren't just about shopping for holiday gifts — 64% of consumers plan to treat themselves, according to a new Shopify-Gallup survey.
Why it matters: The all-important holiday shopping season can be make-or-break for retailers and consumers are feeling pressure from inflation.
