Investing legend Warren Buffett on Saturday delivered a stark warning about artificial intelligence, likening the technology's rise to the development of nuclear weapons in World War II.
Why it matters: While it's not the first time Buffett has weighed in on AI risks, it comes at a time when AI is already creating vast amounts of paper wealth and stoking expectations about how the technology will upend everyday life.
The National Association of Realtors recently agreed to settle a big lawsuit that questions how real estate agents are paid — and who foots the bill.
The big picture: If approved, come summer, agents won't be able to make offers of compensation in the Multiple Listing Service, the database where real estate agents post homes for sale.
Why it matters: The seemingly tiny change is causing major confusion.
Coinbase Global just showed how well it can perform when crypto markets are good with Thursday's earnings results, but comments from the C-suite point to what could become its next, more meaningful growth driver.
Why it matters: The U.S's largest crypto exchange is a barometer for how the industry is doing, and where it's going. Where it's going, it appears, is payments.
The labor market isn't the turbocharged hiring machine of the last couple of years. Instead, hiring looks to be moderate, steady and solid.
Why it matters: Friday's employment report should ease fears that the job market is reaccelerating — while offering reassurance that it's still healthy, with few signs the economy is in trouble.
The fact that Telegram is based in Dubai has made a cryptocurrency linked to the mega-messaging app attractive to the original hedge fund for blockchain investment.
Between the lines: Pantera Capital yesterday announced it was backing the TON network, done through an eight-figure investment entirely in TON tokens, according to a person familiar with the matter.
Long-time media executive Kimberly Bernhardt has joined the Lede Company to support strategic marketing and communications.
Why it matters: The Lede Company — founded in 2018 by Sarah Levinson Rothman, Christine Su, Meredith O'Sullivan and Amanda Silverman — works with celebrity clients like Rihanna and Will Smith, Emma Stone and the Obama's production company, Higher Ground.
Bernhardt, who held previous communications roles at The Messenger, Bustle Digital Group and Condé Nast, will help the firm expand its client base within the media sector.
What she's saying: "As corporations, brands and executives confront a multitude of intricate challenges — from societal issues and world conflict to internal dynamics — the art of crafting strategic narratives has never been more complex," Bernhardt says.
The fire sale of Silicon Valley Bank is nearly complete, a scant 14 months after the lender's spectacular collapse.
Why it matters: This concerns the fate of SVB's venture capital business, called SVB Capital, which still manages around $9.8 billion in assets for limited partners.
The U.S. economy added 175,000 jobs in April, while the unemployment rate ticked up to 3.9% from 3.8%, the Labor Department said on Friday.
Why it matters: Jobs growth slowed from the prior month's hot pace, but the data suggests that the labor market is still chugging along with healthy demand for workers.
Why it matters: Newly released House and Senate documents shed fresh light on companies' motivations for providing funding for external research programs — a practice long accepted and disclosed, but nonetheless opaque.
The full spectrum of inequality within the U.S. is on display in an updated dataset released Friday by the Ludwig Institute for Shared Economic Prosperity (LISEP).
Why it matters: Boom towns like Denver, Nashville and Dallas are seeing very low levels of unemployment— in stark contrast to areas with large numbers of low-wage jobs, such as El Paso, Fresno and New Orleans.
In the U.S., where it's celebrated with tacos, tequila and margarita specials, Cinco de Mayo is often incorrectly believed to be Mexico's Independence Day.
Reality check: Cinco de Mayo — or, in English, May 5 — marks a Mexican victory over France 50 years after Mexico's independence.
Major news outlets are taking opposite approaches toward future-proofing their businesses against the threat of AI — some are opting to partner with AI firms, and others are suing them.
Why it matters: Unlike music and book publishers, news outlets are struggling to present a unified front in their fight for copyright protection, and that could weaken their leverage in negotiations with Big Tech to license their content.
The publishers and top editors at the Wall Street Journal, Washington Post and New York Times on Friday ran a joint letter as an ad in all three of their papers, calling attention to journalists around the globe who are being persecuted for doing their jobs.
Why it matters: The ad, coinciding with World Press Freedom Day, comes as Wall Street Journal reporter Evan Gershkovich marks more than 400 days detained in a Russian prison on espionage charges that the Journal and U.S. government have vehemently denied.
The captain of a scuba dive boat that caught fire and killed 34 people off California's coast in 2019 was sentenced to 48months in federal prison on Thursday.
The big picture: Jerry Nehl Boylan was found guilty last November of one count of misconduct or neglect of ship officer over the deadliest maritime disaster in recent U.S. history over the federal offense that's colloquially referred to as "seaman's manslaughter."
Anatolii Tarasiuk — the Ukrainian abstract artist we told you about last year, who learned he had cancer as he was fleeing the war — has been undergoing chemotherapy in North Carolina. A recent scan showed cancer in his liver.
Anatolii will have another major surgery in two weeks. He and his wife have three small children.
Why it matters: Tarasiuk is a wonderfully creative man and artist — and is still painting to support his family and cover medical bills.
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