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TheBadPlace
The Bad Place
@TheBadPlace@mastodon.ozioso.online · 1d ago
The Guardian | Wealth of Britain’s 157 billionaires now equal to 22% of country’s GDP by Amelia Hill AI generated summary, Read the full article for complete information. Britain’s 157 billionaires now control just under £670 billion—more than 22 percent of the nation’s GDP—a five‑fold increase since 1990 that the Equality Trust labels “ghost GDP” to illustrate how headline economic growth is increasingly disconnected from everyday life. While politicians point to rising GDP as evidence of a thriving economy, analysts such as Priya Sahni‑Nicholas and economist Gabriel Zucman argue that macro‑level indicators no longer reflect income gains for most people, citing the surge in wealth among the super‑rich and corporate tax‑avoidance tactics that inflate growth figures. The data show that the richest 50 families now possess more wealth than the poorest 34 million Britons combined, and that workers have endured the longest pay squeeze in living memory, highlighting a widening gap between wealth creation and broad‑based prosperity. Read more: https://www.theguardian.com/inequality/2026/may/15/wealth-britain-billionaires-gdp-rich-list-inequality #EqualityTrust #PriyaSahniNicholas #GabrielZucman #SundayTimes #Ireland #Britain #UK #business #economicgrowthgdp #economics #incomeinequality #inequality #poverty #richlists #society #thesuper_rich #PriyaSahniNicholas
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theguardian_us_technology
Technology | The Guardian US
@theguardian_us_technology@halo.nu · 2d ago
‘I didn’t want to be the guinea pig’: inside tech’s AI-fueled manager purge https://www.theguardian.com/technology/2026/may/15/ai-manager-purge-tech #AiArtificialIntelligence #Management #UsWorkCareers #Computing #Technology #Business
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TheBadPlace
The Bad Place
@TheBadPlace@mastodon.ozioso.online · 2d ago
Business Latest | An Engineer’s Post Protesting Laptop Surveillance Is Going Viral Inside Meta by Paresh Dave AI generated summary, Read the full article for complete information. Meta employees in the US and UK are rallying against the company’s new Model Capability Initiative—a mandatory tool that records keystrokes, mouse movements and screen activity to collect data for training AI systems. An internal post by an engineer, seen by thousands of coworkers, described the software as a privacy invasion and warned it could set dangerous norms for how workers are exploited for AI training. The post sparked a petition demanding an end to the non‑consensual data extraction, fueling low morale, union‑organizing efforts—particularly in the UK—and widespread protests such as flyers and delayed installations, as staff question the legality and ethics of employer‑driven surveillance for AI development. Read more: https://www.wired.com/story/meta-employee-protest-mouse-tracking-surveillance-ai-training/ #Meta #ModelCapability #Wired #UnitedTech #AlliedWorkers #business #business_artificialintelligence #internalunrest
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TheBadPlace
The Bad Place
@TheBadPlace@mastodon.ozioso.online · 2d ago
Business Latest | The Real Losers of the Musk v. Altman Trial by Maxwell Zeff, Paresh Dave AI generated summary, Read the full article for complete information. The article examines the broader fallout from the Musk v. Altman trial, arguing that regardless of who wins, the real losers are the employees, policymakers, and public who supported OpenAI’s original nonprofit mission. While the trial focuses on whether Elon Musk’s $38 million investment was conditioned on charitable use and whether OpenAI’s shift to a for‑profit model violated that intent, the case highlights how both Musk and Sam Altman have treated the nonprofit structure as a convenient vehicle for building the world’s leading AI lab, even as it morphed into a multibillion‑dollar company. Critics, including former researchers and nonprofit advocates, contend that the nonprofit façade no longer protects the public interest; OpenAI’s massive funding, aggressive pursuit of AGI, and legal battles over safety, liability, and copyright suggest it now operates much like any profit‑driven tech giant. The trial thus underscores a deeper tension between the declared mission of ensuring artificial general intelligence benefits humanity and the commercial realities that have come to dominate the organization. Read more: https://www.wired.com/story/musk-v-altman-trial-closing-arguments/ #ElonMusk #SamAltman #JillHorwitz #DanielKokotajlo #OpenAI #GoogleDeepMind #Northwestern #business #business_artificialintelligence #modelbehavior
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TheBadPlace
The Bad Place
@TheBadPlace@mastodon.ozioso.online · 3d ago
Business Latest | Meta’s New Reality: Record High Profits. Record Low Morale by Paresh Dave, Lauren Goode, Steven Levy, Zoë Schiffer AI generated summary, Read the full article for complete information. Meta is preparing to cut about 10 % of its workforce—roughly 8,000 jobs—adding to the 25,000 layoffs announced over the past four years, and employees describe the atmosphere as “historically low” morale, with unhappiness widespread except among senior executives. The dip in morale stems from a combination of factors: shrinking compensation (share‑based raises cut for two consecutive years), widening pay gaps, costly AI initiatives, mandatory installation of tracking software that records U.S. staff’s keyboard and mouse activity to train internal AI models, and recent legal setbacks that highlighted the company’s product harms. Workers are protesting the AI surveillance, some are trying to form a UK union with United Tech & Allied Workers, and many hope to be laid off to collect severance and health benefits. While Meta’s ad business continues to generate strong profits—nearly $27 billion in Q1—the company is simultaneously spending billions on AI talent and infrastructure, creating tension between high‑level financial performance and the everyday experience of employees who feel pressured, undervalued, and uncertain about their future. Read more: https://www.wired.com/story/meta-layoffs-bad-vibes-mark-zuckerberg-ai/ #Meta #AndrewBosworth #UnitedTech #AlliedWorkers #ModelCapability #AppliedAI #aipilled #business #business_artificialintelligence
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TheBadPlace
The Bad Place
@TheBadPlace@mastodon.ozioso.online · 4d ago
News Headlines | High Court allows PTSB's EGM to go ahead in July AI generated summary, Read the full article for complete information. The High Court has cleared the way for an extraordinary general meeting of PTSB on July 30, allowing shareholders to vote on a €1.6 billion takeover of the bank by Austria’s BAWAG. A minority group of shareholders holding less than 1 % of the stock, led by Piotr Skoczylas of Scotchstone Capital, had asked the court to consider whether Finance Minister Simon Harris—who controls 57.5 % of PTSB on behalf of the state—should be classified differently from other investors. Justice Mark Sanfey ruled that the issue of shareholder composition can be addressed later when deciding whether to sanction the BAWAG acquisition, refused the request for a stay of the meeting, and noted his decision does not prejudice the minority shareholders, who plan to appeal to the Court of Appeal. Read more: https://www.rte.ie/news/business/2026/0513/1573151-ptsb-egm/ #HighCourt #PTSB #BAWAGgroup #SimonHarris #PiotrSkoczylas #ScotchstoneCapital #MarkSanfey #AppealCourt #business
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TheBadPlace
The Bad Place
@TheBadPlace@mastodon.ozioso.online · 4d ago
The Guardian | GameStop hits the limits of credibility with $55.5bn eBay bid | Nils Pratley by Nils Pratley AI generated summary, Read the full article for complete information. GameStop’s audacious $55.5 billion offer to buy eBay – a bid valuing the auction site at $125 per share and funded half in cash and half by newly issued GameStop stock – was promptly dismissed by eBay’s board as “neither credible nor attractive.” The proposal, championed by CEO Ryan Cohen, harkens back to GameStop’s rise as a “meme stock” after Reddit traders forced a massive short‑squeeze that sent its share price soaring and made Cohen a cult anti‑establishment figure. However, the financing behind the deal is shaky: only $8 billion of cash is certain, while the remaining $20 billion relies on a non‑binding promise from Canadian TD Bank that hinges on GameStop obtaining an investment‑grade rating—a doubtful prospect given the leverage required. With eBay’s own shares up 50 % over the past year and no clear strategic benefit to swapping its stable currency for volatile GameStop stock, the board sees no reason to entertain the bid, even as Cohen vows to keep pressing, hinting at a possible hostile takeover attempt. Read more: https://www.theguardian.com/business/nils-pratley-on-finance/2026/may/12/gamestop-limits-credibility-ebay-bid #GameStop #EBay #RyanCohen #Reddit #business
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TheBadPlace
The Bad Place
@TheBadPlace@mastodon.ozioso.online · 4d ago
ABC News: Top Stories | Musk, Cook and other prominent US executives invited to join Trump on trip to China AI generated summary, Read the full article for complete information. According to a White House official, President Donald Trump has invited several high‑profile U.S. business leaders to accompany him on his upcoming trip to China, including Elon Musk—former head of the short‑lived Department of Government Efficiency and CEO of Tesla and SpaceX—who has been dealing with legal issues and ongoing AI controversies; Tim Cook, the outgoing Apple chief who has navigated tariff negotiations and shifted iPhone production amid Trump’s trade policies; and Robert “Kelly” Ortberg, the new Boeing CEO focused on recovering the aerospace giant while pursuing aircraft sales to Chinese airlines despite steep new Chinese tariffs. The delegation highlights Trump’s emphasis on trade, artificial intelligence and broader economic ties as he prepares to meet President Xi Jinping in Beijing. Read more: https://abcnews.com/Business/wireStory/musk-cook-prominent-us-executives-invited-join-trump-132884855 #ElonMusk #TimCook #DonaldTrump #XiJinping #business #RobertOrtberg #LarryFink #StephenSchwarzman
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TheBadPlace
The Bad Place
@TheBadPlace@mastodon.ozioso.online · 4d ago
The Guardian | GameStop’s $55.5bn bid for eBay rejected as ‘neither credible nor attractive’ by Joanna Partridge AI generated summary, Read the full article for complete information. eBay’s board has turned down GameStop’s unsolicited $55.5 billion offer to buy the online marketplace, calling the proposal “neither credible nor attractive” and citing uncertainty over how GameStop would finance the deal, its borrowing levels, and the operational risks of merging the two companies. GameStop, which has accumulated a 5 % stake in eBay, proposed a price of $125 per share funded by about $9.4 billion of cash and roughly $20 billion of debt financing, leaving a shortfall of around $16 billion relative to its own market value of roughly $12 billion and eBay’s $46 billion valuation. CEO Ryan Cohen, who has been linked to GameStop since 2020, was unable to explain the financing during a CNBC interview and hinted at a possible hostile bid if the board remains unreceptive. The rejection comes amid GameStop’s recent store closures, its meme‑stock legacy, and eBay’s own strategic moves, including a pending $1.2 billion acquisition of the fashion resale app Depop. Read more: https://www.theguardian.com/business/2026/may/12/gamestop-bid-for-ebay-rejected-as-neither-credible-nor-attractive #GameStop #EBay #PaulPressler #RyanCohen #Amazon #Depop #Etsy #CNBC #business #e_commerce #mergersandacquisitions #retailindustry
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TheBadPlace
The Bad Place
@TheBadPlace@mastodon.ozioso.online · 5d ago
ABC News: Top Stories | First wave of tariff refunds will hit some businesses tomorrow AI generated summary, Read the full article for complete information. The first wave of tariff refunds is set to start hitting American businesses’ bank accounts, with U.S. Customs and Border Protection reporting that over 330,000 importers paid $166 billion in tariffs under the International Emergency Economic Powers Act before the Supreme Court ruled the program illegal. By April 26, at least 75,000 firms had applied for refunds through a new online portal, though about 15 % of claims were rejected for errors or ineligible shipments. Large companies anticipate sizable payouts—Walmart reportedly is due $10 billion, Target $2 billion, Nike $1 billion and Macy’s $320 million—and say the money will be used to pay down debt, rehire staff, restock inventory, or possibly lower prices, rather than being passed directly to consumers. Shipping firms such as UPS, FedEx, and DHL will refund customers for packages affected by the tariffs, but shoppers should not expect personal rebates for higher prices paid last year, which the Tax Foundation estimates cost the average household roughly $700. Read more: https://abcnews.com/Business/wave-tariff-refunds-hit-businesses-tomorrow/story?id=132854062 #CBP #SupremeCourt #Walmart #Target #business
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TheBadPlace
The Bad Place
@TheBadPlace@mastodon.ozioso.online · 5d ago
Boston.com | Fidelity reorganizes its workplace with new hires — and a few cuts by Beth Treffeisen AI generated summary, Read the full article for complete information. Fidelity Investments announced a broad restructuring that will bring on thousands of new hires while trimming roughly 1 % of its global workforce—about 800 jobs out of 80,000 associates. The reorganization focuses on revamping its technology and product teams to accelerate tool development, opening 2,000 positions (including 400 tech‑ or product‑related roles) and shifting about 25,000 roles to a new Technology and Product Operating model, with an emphasis on early‑career, hands‑on engineering talent. The layoffs affect a small portion of the staff, though the company has not indicated whether any of its roughly 6,200 Boston employees are impacted. This move follows Fidelity’s recent mandate for a five‑day in‑office schedule and comes as the firm manages $7 trillion in assets—up 19 % from the prior year—and plans to maintain its main corporate office while transitioning workers to a new Commonwealth Pier campus later in the fall. Read more: https://www.boston.com/news/business/2026/05/11/fidelity-reorganizes-its-workplace-with-new-hires-and-a-few-cuts/ #FidelityInvestments #Bostoncom #CommonwealthPier #business
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idiotbusiness
Idiot Business
@idiotbusiness@rockosbasilisk.com · May 10, 2026
Artificial text - On few occasion it's also funny. Meow Hover or focus to reveal Sensitive
Introducing 'Prestige Posture,' the service that rents out inflatable posture correctors for awkward social situations! Imagine confidently facing your in-laws, propped up like a Victorian gentleman... or a very confused pigeon. #business #innovation #awkwardness #posture #fail #BusinessIdea #Business #Ai #LLM
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wired.com
WIRED - The Latest in Technology, Science, Culture and Business [Unofficial]
@wired.com@web.brid.gy · May 08, 2026

Nick Bostrom Has a Plan for Humanity’s ‘Big Retirement’

The philosopher thinks humans should pursue advanced AI and the promise of a “solved world.”
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europesays
Europe Says
@europesays@pubeurope.com · May 08, 2026
https://www.europesays.com/2975284/ Great Western Railway to be renationalised by end of 2026 #business
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idiotbusiness
Idiot Business
@idiotbusiness@rockosbasilisk.com · May 08, 2026
Artificial text - On few occasion it's also funny. Meow Hover or focus to reveal Sensitive
Introducing 'Bushed & Brewed'! We deliver pre-installed bushes directly into your window boxes... accompanied by a small craft beer! Because who has time for gardening AND choosing the right IPA? #bushelife #craftbeer #windowboxgoals #BusinessIdea #Business #Ai #LLM
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europesays
Europe Says
@europesays@pubeurope.com · May 08, 2026
https://www.europesays.com/2974548/ “Trump Just Lost Again”: Federal Court Rules Against Donald Trump’s Tariff Backup Plan #administration #business #CourtOfInternationalTrade #DonaldTrump #SupremeCourt #tariffs #TradeWar #TrumpAdministration
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europesays
Europe Says
@europesays@pubeurope.com · May 08, 2026
https://www.europesays.com/2974546/ With Spirit in liquidation, what happens to its planes : NPR #business
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europesays
Europe Says
@europesays@pubeurope.com · May 08, 2026
https://www.europesays.com/2974550/ IAG €2bn Fuel Hit: British Airways Owner Warns Iran War Will Dent 2026 Profits #business #tariffs #TradeWar
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idiotbusiness
Idiot Business
@idiotbusiness@rockosbasilisk.com · May 08, 2026
Artificial text - On few occasion it's also funny. Meow Hover or focus to reveal Sensitive
Introducing Smicker™! We’re selling custom-smirk stickers - for your forehead! Express yourself with a perfectly placed smirk on command! Great for awkward silences and passive aggressive statements. #BusinessIdea #Business #Ai #LLM
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idiotbusiness
Idiot Business
@idiotbusiness@rockosbasilisk.com · May 07, 2026
Artificial text - On few occasion it's also funny. Meow Hover or focus to reveal Sensitive
Introducing 'Kaks Cozy Corners!' We rent out miniature, hand-knitted koala outfits for your pets - because why not? Guaranteed to confuse both your cat AND your neighbors. 🧶🐨 #BusinessIdea #Business #Ai #LLM
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