Finance
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This professor asked his robot clone about the future: ‘I think robots will coexist with people. Robots are the mirror of human beings’
Mechanical hands dexterous enough to thread a needle, childlike dancing robots and adult-sized ones to help with deliveries were on display Thursday as the Humanoids Summit Tokyo opened. Among the dozens of companies taking part, including well-known players like Boston Dynamics and Toyota Motor Corp., the big stars now were clearly the Chinese. Chinese newcomers,…
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Gen Z’s Joe Camel moment: how prediction markets learned to speak in memes
When Rory McIlroy won the Masters for the second year in a row, Kalshi shared a photo of him on Instagram with the words, “Wait he’s goated.” When a video of NBA player Damian Lillard recovering from an injury circulated online, Kalshi’s main competitor Polymarket posted, “The league is cooked.” If you don’t know what…
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SpaceX’s $80 billion IPO has a catch: 78% of the money is already spoken for
A big contributor to the soaring spirits surrounding the pending SpaceX IPO is near-certainty that the offering will raise $80 billion or more in fresh capital. But the S-1 the Space, Connectivity and AI enterprise released the evening of May 20th contains a surprising revelation. SpaceX has already pledged the largest part by far of…
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Top JPMorgan analyst maps 5 ways America’s debt crisis could unfold—and the ‘best case’ is still alarming
Last October, David Kelly, Chief Global Strategist at J.P. Morgan Asset Management, published a note that cut through the noise with a single phrase: America is “going broke slowly.” Markets weren’t panicking yet, Kelly said at the time. The deterioration is real, but gradual enough that investors have been able to look away. This week,…
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Employees using AI are working faster, but the economy isn’t more efficient. A look at what happened in the pre-Internet era might explain why
Two curious things are happening to the economy in 2026. On one hand, economic expansion is still going strong despite job growth slowing to a trickle, suggesting productivity among those currently employed is rising. But by many measures, productivity growth has barely budged in recent years, and slowed in the first quarter of 2026. Those…
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A study finds escaping your income bracket no longer means building wealth. That disconnect may be what’s driving consumer pessimism to record highs
It’s easy to look at the child of a celebrity or power couple and see the leg up their family’s wealth, power, and connections got them in their own separate venture or company. And it’s even easier to label them a nepo baby when they benefit from their parent’s money and clout. But the nepo…
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Even if every California billionaire left tomorrow, it would take 25 years for the state to lose as much as it stands to gain from proposed wealth tax
California’s proposed, one-time billionaire wealth tax has its fair share of critics. From the ultra-rich Californians who have already voted with their feet by leaving the state, to the Trump administration itself, a common line of attack has been that the measure could drive away more billionaires and eventually starve the state of tax revenue.…
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Interest on the national debt is eating a record 19% of federal revenue — and watchdog warns it will get worse
The federal government already spends more on debt interest than on Medicaid, national defense, or all non-defense discretionary programs combined. Now, with the 30-year Treasury yield surging past 5.19% — its highest level in almost 20 years — a leading fiscal watchdog is warning that what was already a crisis could turn into something far…
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S&P 500 sets all-time high, welcomes another company to $1 trillion market cap club
The U.S. stock market rose to records Tuesday as it caught up with climbs for others around the world from the day before, when President Donald Trump said negotiations were “proceeding nicely” with Iran on ending their war. The S&P 500 climbed 0.6% after trading resumed following Monday’s holiday and set an all-time high. The…
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Jamie Dimon said the American Dream was slipping away. JPMorgan just put $40 million on the table to fix it
Jamie Dimon said the American Dream was “slipping out of reach” and he wanted to be part of the solution, so his bank put $40 million on the table. The sheriff of Wall Street laid down a marker in March with the announcement of the American Dream Initiative, saying that the idea that hard work…