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Read previewThe AI boom resembles the dot-com bubble — but there's one big difference that makes this craze far more dangerous, says one expert. "Many dot-com companies that drove the internet change went broke doing it. Many AI companies driving as big a change will go broke or lose half their value." "The giant AI pioneers won't go broke, but if AI losses drive their stock prices down, lots of investors will suffer," Gordon said. He's previously drawn a line between the dot-com bubble and the tech-stock boom.
Persons: , Erik Gordon, Gordon, He's Organizations: Service, Business, University of Michigan's Ross School of Business, Nvidia, Microsoft, Big Tech
CNN —Tom Brady took some major hits by his former teammates, comedians and even Kim Kardashian during Netflix’s “The Greatest Roast of All Time” on Sunday. Boston-native and Brady fan Ben Affleck revealed that while the two were filming a Super Bowl spot, Brady asked the actor and director to look at his social media comments. #TomBradyRoast pic.twitter.com/Mp0mYZXdn3 — Netflix (@netflix) May 6, 2024Brady may have seen certain defeat on Sunday but his decades-long NFL career is nothing short of remarkable. He is also a five-time Super Bowl MVP and won three NFL MVP awards. At the end of the roast, Brady finally had the chance to defend himself, saying that people had asked him why he agreed to do the event.
Persons: Tom Brady, Kim Kardashian, Netflix’s, Kevin Hart, Gisele Bündchen, “ deflategate ”, Jeff Ross, Brady, Kardashian, “ I’d, I’d, , Ben Affleck, ” Affleck, ” Will Ferrell, Ron Burgundy, , ” Brady, Rob Gronkwoski, Julian Edelman, Randy Moss, Drew Bledsoe, Bill Belichick, Peyton Manning, Robert Kraft, Gronkowski, Belichick, Bert Kreischer, Tom Segura, Nikki Glaser, Andrew Schulz, Tony Hinchcliffe, Sam Jay, Glaser, Tom, I’ve Organizations: CNN, Netflix, NFL, New England Patriots, Patriots, Sunday, Rings, Tampa Bay Buccaneers Locations: Boston, Denver, Louisiana
Both rappers released diss tracks that took blistering personal shots on Friday night. "He doesn't have the heart for the lying, disrespect, and animosity it requires to make an effective diss track," Pierre wrote. Later in the track, Drake references Cole's diss track and apology. At the end of the track, Lamar samples a 1994 Tupac interview to simulate a conversation between the two rappers. "6:16 in LA" also parodies Drake's song titles, which often feature location names and timestamps.
Persons: Kendrick Lamar, Drake's, Drake, , Lamar's fiancée Whitney Alford, Lamar, Aubrey Drake Graham —, Lamar dissed Drake, J, Cole, Rick Ross, Cole —, Taylor, Joseph Okpako, WireImage Lamar, Jermaine Cole, Big, Wale, Pusha, Meek Millz, Big Sean, Jay, Tyler, Mac Miller, Kunta, Lamar hasn't, Meek, Getty, Tim Mosenfelder, Aubrey, Muhammad Ali, Michael Jackson, Jackson, Prince, Mike Jack, Prince . Prince, , rics, Organizations: Metro Boomin, Service, Future, Metro, HBO, Drake, Wireless, Lamar, Big, Rocky, Rap Locations: Drake's, Lamar, LA, Florida
Opinion | What Medical Stories Do We Trust?
  + stars: | 2024-05-04 | by ( Ross Douthat | ) www.nytimes.com   time to read: +1 min
Let me tell you a medical story; you decide what you make of it. A person has a routine medical experience, the kind that all their neighbors have had as well. The medical system can’t help them, so they join online communities that provide validation but not a cure. The routine medical experience that preceded his mystery illness was his taking — because his employer required it — the Covid vaccine. Are you suddenly forming a theory of what’s wrong with him?
Organizations: Fox News Locations: Indiana
But this year’s event will be the first without Munger, who died in November at age 99 — and comes amid growing questions about Berkshire post-Buffett, who’s 93. Buffett will have a different crew answering questions alongside him on Saturday. Berkshire’s vice chairmen, Greg Abel and Ajit Jain, will be on hand for much of the day. Shareholders most likely will be focused on what Abel, Buffett’s appointed successor as C.E.O. In Buffett’s annual letter to investors, he noted challenges to Berkshire’s biggest businesses, including the BNSF railroad (falling shipment volumes) and its utility business (forest fires).
Persons: Warren Buffett, Charlie Munger, Munger, Buffett, Greg Abel, Ajit Jain, Abel, Buffett’s Organizations: Berkshire, Shareholders Locations: Berkshire, Omaha, Woodstock, America
My weekend column used this season of campus protest as an opportunity to discuss the evolution of Columbia’s core curriculum, whose readings on contemporary politics, I argued, usefully distill the core of contemporary progressivism while leaving a great deal else by the wayside. I included some examples of ideas and writers that the present Columbia syllabus leaves out, but I wanted to give a little more attention to the question of what a supplement to the progressive approach would look like. If you were trying to bring a great-books program all the way up to the present and you wanted to widen the ideological aperture beyond Columbia’s progressive focus, what would you have your students read? One answer is that the very idea of being up-to-date is a mistake because readings oriented explicitly to the present are everywhere in education and the point of a core curriculum is to stand a little bit apart, to connect you to the riches of the past — riches that have been sifted in a way that just isn’t possible with the publications and arguments of the past few generations. I have some sympathy with this idea: If I were designing a core humanities program for high school students (not that I’ve ever thought about this or anything), my strong impulse would be to just hit “stop” at World War II or 1965 and decline to make any judgment on what will be remembered as the great books of the recent past and present.
Persons: Locations: Columbia
ImageHERE’S WHAT’S HAPPENINGExxon Mobil strikes an agreement to win regulatory approval of its $60 billion megadeal. Elsewhere, shares in Shell were up after the producer reported $7.7 billion in adjusted quarterly earnings, beating analyst expectations. The U.S. imposes sanctions on Chinese companies over military support for Russia’s war effort. The Biden administration announced on Wednesday nearly 300 sanctions, including on more than a dozen Chinese businesses, aimed at disrupting Moscow’s full-scale invasion of Ukraine. The culprit: pressure on prices, amid growing competition from Eli Lilly’s Zepbound, supply constraints and scrutiny from lawmakers.
Persons: Scott Sheffield, Biden, Janet Yellen, Antony Blinken, Eli Lilly’s Zepbound, James Comer, Comer Organizations: Labor Department, Exxon Mobil, Natural Resources, Wall Street, Novo Nordisk, Republican, European Commission Locations: Shell, U.S, Ukraine, Danish, Kentucky, iRobot
Trump repeatedly attacked Kennedy over social media this past weekend, despite the former president's claim that he knows little about Kennedy. Trump's refusal to debate Kennedy may not be entirely in his hands. But Trump and his allies have been harshly critical of the debate commission. AdvertisementBiden recently told radio host Howard Stern that he would like to debate Trump, but there is rampant speculation such a debate will never occur. The second debate was canceled after Trump refused to accept a virtual format after the then-president tested positive for COVID-19.
Persons: , Donald Trump, Robert F, Kennedy Jr, Trump, Kennedy, Biden, He's, Nicole Shanahan, MAGA, Joe Biden, Ross Perot, Howard Stern Organizations: Service, RFK, Business, NBC News, Trump voters, Capitol, Politico, Republican National, Texas State University, Trump Locations: Manhattan, Texas, San Marcos , Texas
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCyclicals are being driven by fundamentals, not the rate cut outlook, says Ross MayfieldRoss Mayfield, Investment Strategy Analyst at Baird, discusses how the latest Fed decision impacts the markets.
Persons: Ross Mayfield Ross, Baird Organizations: Investment
CNN —Danny DeVito had the opportunity to know way more about Drew Barrymore than the rest of us. On Wednesday’s episode of “The Drew Barrymore Show,” the daytime host was joined by Ross Matthews and “the boys” of “CBS Mornings,” Tony Dokoupil, Nate Burleson, and Vladimir Duthiers. I left it at someone’s house.”That someone happened to be Danny DeVito, Barrymore revealed, who at the time was directing a movie titled “Duplex” in which Barrymore was costarring and producing. “I did admit it to him,” Barrymore told the group. I never saw it,” he told Barrymore and the audience.
Persons: Danny DeVito, Drew Barrymore, , Ross Matthews, Tony Dokoupil, Nate Burleson, Vladimir Duthiers, they’ve, Barrymore, , ” Barrymore, , ’ ”, DeVito Organizations: CNN, CBS, Independent
A flicker of hope for the weed businessFor years, the dreams of the cannabis industry looked like they might go up in smoke, with the U.S. government classifying marijuana as a drug as dangerous as heroin. But the multibillion-dollar industry now has some hope that could change. The bet is that this will give the industry a new lease on life — though it shouldn’t expect big changes immediately. Shares in Tilray, a giant in the industry, jumped 39 percent on Tuesday, while those in Canopy Growth leaped nearly 79 percent. That’s welcome news for investors in both companies: Canopy Growth’s stock is down 97 percent over the past five years, while those in Tilray are down 95 percent.
Persons: Biden Organizations: U.S, Justice Locations: Tilray
In February, there was a flurry of discussion about whether Joe Biden’s advancing age and seeming weakness in a matchup with Donald Trump meant that he should step aside. “The Drumbeat for Biden to Step Aside Will Only Grow Louder” ran one headline from that period, from Robert Kuttner in the American Prospect. All it took was Biden giving a passable State of the Union address: Thereafter his poll numbers marginally improved, the optimists on the Democratic side seized the rhetorical initiative, and the “should Biden step aside?” discourse faded into background noise. But it’s also quite consistent; since last fall, both candidates are bouncing around within a very narrow range. ), because voters aren’t paying close attention yet (but don’t they already know both of the candidates quite well?
Persons: Joe Biden’s, Donald Trump, Biden, Nate Silver, Ezra Klein, Robert Hur, Robert Kuttner, Kuttner, Robert F, Kennedy Jr, it’s, he’s Organizations: Democratic, Trump, Electoral College Locations: Georgia, Michigan, Arizona , Nevada , Pennsylvania, Wisconsin
Amazon Why we own it : Amazon may be widely known for online shopping, but its cloud business is the real breadwinner. While an International e-commerce sales increase of 10% to $31.94 billion missed estimates, the segment saw $903 million in operating income. Guidance Amazon expects second-quarter net sales to be between $144 billion to $149 billion, growing 7% to 11% year over year. However, thanks to disciplined cost management, operating income guidance is expected to come in much closer to the mark at $10 billion to $14 billion versus $12.73 billion expected. The midpoint of the sales and operating income estimates point to an operating margin target of 8.2%, which compares with an 8.5% estimate for the second quarter.
Persons: it's, Andy Jassy, Jassy, we're, That's, Jim Cramer's, Jim Cramer, Jim, CNBC's Andrew Ross Sorkin Organizations: Amazon, LSEG, Walmart, Target, Microsoft, Services, Web Services, CNBC Locations: Amazon, America, North America
Paramount’s cloudy futureThe boardroom intrigue at Paramount Global — the drama that has gripped the corporate world — just got messier. Bob Bakish is out as C.E.O., replaced by three subordinates who will form an “office of the C.E.O.” His departure caps a year of rising tension between him and Shari Redstone, Paramount’s controlling shareholder, who is pushing for a deal with David Ellison’s Skydance. Bakish’s exit removed an executive who didn’t support that transaction, but it doesn’t resolve all of the big questions hanging over the company’s future. Why Bakish was pushed out: Redstone picked the low-profile company veteran to lead Paramount after years of internal strife, but they still ended up clashing.
Persons: Bob Bakish, , Shari Redstone, David Ellison’s Skydance, Bakish Organizations: Paramount Global, Redstone, Paramount
5 ways to attack the climate crisis
  + stars: | 2024-04-29 | by ( Andrea Kane | ) edition.cnn.com   time to read: +8 min
The climate crisis impacts Earth — its land, its atmosphere and its bodies of water — and it also profoundly affects the health and behavior of the planet’s inhabitants large and small, including humanity. And CNN Chief Climate Correspondent Bill Weir has a front-row seat to the ever-evolving situation. “Five million people die prematurely every year just to, just from particulate pollution of burning fossil fuels around the world,” Weir said. “It is taking care of water and soil and air… (that) fills those (Maslow) needs in ways that we can’t imagine in our modern, convenient world,” he said. “I just want folks to connect with each other and nature in the best possible ways,” he said.
Persons: Bill Weir, Weir, Olivia, , , ” Weir, Sanjay Gupta, it’s, Abraham Maslow’s, , Elisabeth Kübler, Rogers, “ There’s, he’s, Maslow Organizations: CNN, Earth Locations: Hope, America, Charleston , South Carolina, Miami, thrivers, United States, Maine, Canada, Asia, Lahaina,
Why Elon Musk went to ChinaJust days after Secretary of State Antony Blinken traveled to Beijing and warned China about unfair trade practices, Elon Musk landed in the Chinese capital. 2 official may have paid off: Musk reportedly cleared two obstacles to introducing a fully autonomous driving system in the world’s biggest car market. Musk is betting big on self-driving, and China is key. Tesla last week reported its worst quarter in two years as a price war hurts profit. Fully autonomous driving is also crucial.
Persons: Elon Musk, Antony Blinken, Tesla, China’s, they’ve, Musk, Organizations: Elon Locations: China, Beijing
On any given evening, Ewing receives emails informing him that some fan in a far-flung location – say, Los Angeles – has just invested in his tiny Scottish soccer club, the Caledonian Braves. “A community club, most people would think, is a local community bound by a certain geography,” says Ewing. National Basketball Association/Courtesy Caledonian BravesAgainst this backdrop, fan ownership has emerged as somewhat of a utopian panacea for some fans. As time went by, the academy’s first team started playing in the Scottish soccer leagues and separated to form the Caledonian Braves in 2019. “You can be anyone really from anywhere and you can also own a football club for as little as £10 ($13).”
Persons: Ted Lasso ”, Ryan Reynolds, Rob McElhenney’s, , Chris Ewing, Ewing, Los Angeles –, ’ ” Ewing, , , Mujtaba Elgoodah, Elgoodah, braving, ” Elgoodah, Alastair Ross, Nassir Criss, Elizabeth Ball, Kristen Hamilton, Hailie Mace, Isaiah Covington, ” Covington, ” Hamilton, that’s, , , ” Criss, Mutjaba Elgoodah, Kiera Burns, ” Ball, Tom Brady, Matthew McConaughey Organizations: CNN — Soccer, Welsh soccer, Scottish soccer, Caledonian Braves, CNN Sport, Scottish, Scottish Premier League, NBA, US, Super League, Golden State Warriors, National, Players ’ Association, Braves, Twitter, Kansas City, Boston Celtics, NFL, National Basketball, English Premier League, St Mirren, Motherwell, Rangers, Celtic, , Edusport Academy Locations: Wrexham, , Los Angeles, Scottish, Australia, Motherwell, Glasgow, – Wyoming, Kansas, Scotland, Heart of Midlothian, France
NBA stars are scoring big in the fashion world
  + stars: | 2024-04-29 | by ( Nick Remsen | ) edition.cnn.com   time to read: +9 min
Basketball players’ style — largely in the men’s league, but increasingly the women’s too — has become a bonafide pillar in fashion media and consumption. Basketball players’ style has more eyes on it than any other sport, the Pulitzer Prize-winning author Mitchell S. Jackson told CNN. “(The league) was the first to embrace it,” Jackson, author of the recently released photobook “Fly: The Big Book of Basketball Fashion,” explained. “Basketball players are so much a part of American culture. Bettman/Getty Images/Courtesy Workman“We talk a lot about current NBA tunnel style, but the league has been America’s most stylish for decades,” Schube continued.
Persons: Tyrese Haliburton, Pepper Robinson, Ron Hoskins, NBAE, — Tyrese Haliburton, , Pharrell Williams, Birkin, it’s, Shai Gilgeous, Alexander, Russell Westbrook, LeBron James, Josh Giddey, Tyler Herro, , Marcus Paul, Luka Dončic, ” There’s, Caitlin Clark, Prada, Sam Schube, Thom Browne, AJ Mast, Tyler Ross, Workman, Virgil Abloh, Louis Vuitton, Williams, Kim Kardashian’s, Donovan Clingan, Caleb Love, Hunter Dickinson, Jared McCain, Duke, Robert Dillingham, Paxson Wojcik, Mitchell S, Jackson, ” Jackson, , LeBron, Michael Jordan, Jordan, Jackson’s, Peggy Sirota, who’ve, Stephen “ Steph ” Curry, Curry, Steph Curry, Jed Jacobsohn “, ’ ” Curry, ” Curry, “ I’m, Kyle Kuzma, Timothée, Johnson, Andrew D, Bernstein, Walt Frazier, Bettman, ” Schube, “ Allen Iverson, Phil Jackson, Pat Riley, Armani, Walt Fraziers, Wilt Chamberlain’s, Fatih Aktas, , ’ ”, , they’d, ” Gilgeous, Alexander —, haven’t Organizations: Indiana Pacers, Basketball, Gilgeous, CNN, GQ, Cleveland Cavaliers, New York Times, Los Angeles Lakers, Oklahoma City Thunder, NBA, UConn, UNC, “ Basketball, Golden State Warriors, Fashion Council, Savant, State, GQ Sports, , Workman New York Knicks, Royce, Anadolu Agency, Getty, Civil, Nike Locations: Haliburton, Arizona, Kansas, Robert Dillingham ( Kentucky, Chicago , Illinois, Gilgeous
AdvertisementSome royal fans think the Duchess of Sussex and Buckingham Palace are in a jam — specifically strawberry. Speculation that Buckingham Palace and Meghan Markle might be battling it out via fruit preserves began on Wednesday. Buckingham Palace. AdvertisementIt didn't take long for online users to draw comparisons between Buckingham Palace and American Riviera Orchard. AdvertisementAmerican Riviera Orchard and Buckingham Palace haven't commented on the speculationRepresentatives for Markle and Buckingham Palace did not immediately respond to a request for comment from Business Insider.
Persons: Meghan Markle's, Buckingham, , Duchess of, Meghan Markle, Markle, Prince Harry, Duke of Sussex, influencers, Tracy Robbins, Delfina Blaqier, Chrissy Teigen, we've, Mindy Kaling, Tracee Ellis Ross, haven't, King Charles III, Queen Camilla Organizations: Markle, Service, Variety, Buckingham Palace, America, Business, Palace Locations: Duchess of Sussex, Buckingham, Buckingham Palace, Montecito, Orchard
Opinion | What Students Read Before They Protest
  + stars: | 2024-04-27 | by ( Ross Douthat | ) www.nytimes.com   time to read: +1 min
When I was a college undergraduate 25 years ago, the fancy school that I attended offered what it styled as a “core curriculum” that was really nothing of the sort. Instead of giving students a set of foundational courses and assignments, a shared base of important ideas and arguments, our core assembled a grab bag of courses from different disciplines and invited us to pick among them. The idea was that we were experiencing a variety of “approaches to knowledge” and it didn’t matter what specific knowledge we picked up. Against the belief that multiculturalism required dismantling the canon, Columbia insisted that it was still obligatory to expose students to some version of the best that has been thought and said. That approach survives today: The Columbia that has become the primary stage for political drama in America still requires its students to encounter what it calls “cornerstone ideas and theories from across literature, philosophy, history, science and the arts.”
Persons: Helen Vendler’s, Organizations: Women Writers, , Columbia University Locations: Imperial China, Columbia, America
Opinion | Left and Right on the Happiness Scale
  + stars: | 2024-04-27 | by ( ) www.nytimes.com   time to read: +1 min
To the Editor:Re “Can Those on the Left Be Happy?,” by Ross Douthat (column, April 7):Mr. Douthat thinks, citing no evidence, that people on the left are “by nature” unhappier than moderates or conservatives, in part because he thinks we don’t believe in God anymore. The left is not “by nature” unhappy; we are often brutally honest with ourselves and unavoidably empathetic to the plights of those who suffer. If we feel more unhappy these days, it’s not because it’s in our genes. We see it all with clarity and are therefore motivated to change it. I’m a proud liberal who is determined and hopeful, and happy most of the time.
Persons: Ross Douthat, Douthat, , it’s, I’m, Jesus
Beyond Pulling Donations
  + stars: | 2024-04-27 | by ( Andrew Ross Sorkin | Bernhard Warner | Ravi Mattu | ) www.nytimes.com   time to read: +1 min
Many business leaders have told me they are deeply concerned about incidents of harassment against Jewish students that have taken place at and around universities like Columbia and appear to be increasing. Inside corner offices, there has been a lot of hand-wringing about the most blatant examples, like antisemitic signs and chants or the assault of an Israeli student. But there has been little action from corporations, which have a synergistic relationship with the schools where they recruit employees. Some executives are privately pondering what they can do. The most common course of action so far has been to pull back on individual donations.
Persons: Robert Kraft Organizations: New England Patriots, Columbia University, Locations: Columbia
Opinion | Taylor Swift Needs to Become Other People
  + stars: | 2024-04-26 | by ( Ross Douthat | ) www.nytimes.com   time to read: +3 min
Which are the 12 best songs — not just in absolute terms, but in terms of the whole (the album) being constructed out of the parts (the songs)? Which of these songs do they want to play live dozens of times on their upcoming concert tour? For a very different analysis of Swift, consider these comments on X from Katherine Boyle, an Andreessen Horowitz venture capitalist, repurposing a take she offered in 2023. In our cultural environment, Boyle argues, being prolific is everything: “You can’t cede ground to competitors. If Taylor writes 31 songs and 3 are memorable, she’s written three epic songs.
Persons: , Taylor Swift’s, Swift, you’re, , Damon, Bruce Springsteen, Springsteen, Katherine Boyle, Andreessen Horowitz, Boyle, ” Boyle, Taylor
An effort to give Trump more say on ratesThis week, investors had planned to examine the latest inflation data, due out at 8:30 a.m. Eastern on Friday, for clues about when the Fed would start cutting interest rates. The Wall Street Journal reports that allies of Donald Trump are devising ways of watering down the central bank’s independence if he is re-elected president. But it also raises questions about whether such a plan is possible — or whether Trump’s Wall Street supporters would back it. Among the most consequential would be asserting that Trump had the authority to oust Jay Powell as Fed chair before Powell’s term is up in 2025. While Trump gave Powell the job in 2017, he has since soured on his pick for raising rates, and has publicly said he wouldn’t give Powell a second term.
Persons: Donald Trump, Trump, Jay Powell, Powell, wouldn’t Organizations: Trump, Street Journal, Wall
Microsoft and a major chemical stock were among Friday's biggest analyst calls. He also lowered his price target by $1 to $25, which implies shares can fall roughly 19% from Thursday's close. Sandler increased his price target by $27 to $200, which implies 26.6% potential upside. JPMorgan: Analyst Mark Murphy added $30 to his price target, which is now at $470. He also hiked his price target to $61 from $55, which implies upside of 8% going forward.
Persons: Morgan Stanley, Mobileye, Adam Jonas, Jonas, — Pia Singh, Stifel, Stanley Elliot, Elliott, Alphabet's, Oppenheimer, Jason Helfstein, Ross Sandler, Sandler, Brent Thill, Google's, Justin Post, Post, Wall, Raimo Lenschow, Wells, Michael Turrin, MSFT, Turrin, Mark Murphy, Murphy, Keith Weiss, Weiss, Jeffrey Zekauskas, Zekauskas, Dow, Fred Imbert Organizations: CNBC, Microsoft, JPMorgan, Dow Inc, TAM, Caterpillar, Google, Barclays, , Jefferies, Bank of America, DOW Locations: Israel, Thursday's, reaccelerate, Wells Fargo
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