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China’s open-weight AI exposes the fiction behind Wall Street’s boom
In July, free software from China set off the worst week for U.S. chip stocks in over a year and briefly cost Nvidia its place as the world’s most valuable company. Wall Street panicked because Chinese firms had matched the leading U.S. artificial intelligence systems. But the selloff exposed something deeper. The AI boom rests […]
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Wall Street and Musk loot workers’ retirement funds
When SpaceX shares began trading on the Nasdaq on June 12, the trap was already set.
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Grindr’s Wall Street hookup: How capitalism is killing gay sex
Grindr has been an economic pioneer; it sparked a whole industry of dating and hookup apps which wasn’t just limited to the sexually subversive. A few years later, for instance, there was Tinder, the “Grindr for straight people,” and dozens more apps have sought to mimic its success among a variety of orientations and identities.
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‘Stripped for Parts: American Journalism on the Brink’
In 2011, a Wall Street hedge fund, Alden Global Capital, started buying up chains of newspapers nationwide. Alden found a way to profit from distressed industries, but the effects on the newspapers’ journalism were disastrous.
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U.S. bank bailout benefited billionaires, exposing corruption: ‘I understand why Americans are angry’
Before it collapsed and its billionaire depositors were bailed out by the U.S. government, Silicon Valley Bank successfully lobbied Congress to remove regulations on it. A senator admitted, “I understand why Americans are angry, even disgusted”.
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If the minimum wage had increased as much as Wall Street bonuses since 1985, it would be worth $44 today
The 2020 bonus pool for 182,100 securities industry employees could pay for more than 1 million jobs paying $15 per hour for a year.
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More important than gold, water should not be traded on Wall Street
Water is essential for life, access to fresh water is a human right, and most importantly, water is sacred. Water is life.