OpenAI in Talks With California To Become For-Profit
The Sam Altman-led AI research organization, OpenAI, is in the early phase of talks with California’s Attorney General’s office to change its corporate structure from a non-profit to a for-profit organization, Bloomberg News reported Monday after discussing the matter with two individuals familiar with it. This will mark a big shift in the corporate and…
John David
Jeff Bezos Just Made a Fortune Selling Amazon Shares
Jeff Bezos, the founder of Amazon, sold 16 million of his shares in the company after the share price reached an all-time high of $200 per share. This recent increase of 7% in the share price of Amazon’s share, followed by the better-than-expected third-quarter earnings report, added $42.8 billion to Bezos’s net worth, making his…
Curbs on Chinese Investment Finalized by Biden Admin
The Biden administration has finalized restrictions on US individuals’ investment in Chinese businesses. US individuals are now prohibited from investing in companies with advanced technology in China, including semiconductors, quantum computing, and artificial intelligence. The new rule, which came after a long deliberation of more than a year, banned investments in some Chinese companies while…
New Chairman at Helm: A New Direction for Disney
Disney has been having a tough time lately. Now, it is about to have its fourth board chair in the last three years as the company continues to navigate the challenges presented by the media industry. According to the company, chairman Mark Parker will step down by the end of 2024. Meanwhile, James Gorman, the…
Rising Housing Costs Problem For Both Parties in the USA
Americans have been facing high housing costs for the past few years, 2019, to be precise. However, this multiyear surge in home prices has hit the hardest in the swing states expected to determine the outcome of 2024. This is very odd, considering that swing state voters are generally considered the most important ones for…
Two Dozen Employees Get Fired From Meta, Here’s Why
In a wild turn of events, Meta, one of tech giants in the world, has fired around two dozen employees from its Los Angeles office for misusing company meal credits for personal things like buying laundry detergent, wine glasses, and acne treatment pads. Many of Meta’s corporate offices offer elaborate food services to its employees…
Airbus To Cut 2500 Jobs In Space and Defense Division
Airbus, the world’s largest airliner producer, has announced that it will cut up to 2,500 jobs in the defense and space division. They cited the “complex business environment” and “rapid changes in Warfare” as the main reasons to cut off the jobs. The company said on Wednesday that it aims to complete this transition by…
Meta To Face Teen Social Media Addiction Lawsuits
The Facebook Parent Company, Meta Inc., was facing accusations from the U.S. states for fueling mental health problems among teens with social media addiction. Now, a federal judge with 34 attorneys general in California has ruled that Meta must face lawsuits from the U.S. states. Oakland-based U.S. District Judge Yvonne Gonzalez Rogers, who issued the…
America Gets Three New Nobel Laureates In 2024
The Nobel Memorial Prize in Economic Sciences was awarded on money to two MIT and one University of Chicago scientist. The scientists Daron Acemoglu, Simon Johnson, and James Robinson, respectively, received the Nobel in Economics for their top-tier research on how institutions around the world shape which country becomes wealthy and prosperous. Their research also…
Machinist Strike Continuous, Boeing Still Struggling
Recently, Boeing announced that it would be laying off 10 percent of its workforce, roughly 17,000 people. This is mainly because of the tug-of-war between Boeing and its financial situation, which includes mounting losses and supply chain disruptions as its machinist strikes continue through the fifth week. The company reported its third-quarter earnings, revealing that…