Ornn, an Andreessen Horowitz-backed startup, raised a $33 million seed round to build a marketplace for trading the computing power that underpins today's AI boom, similar to what exists for oil traders. Why it matters: Investors increasingly want to trade compute like a commodity, betting it could make the historically expensive AI buildout more sustainable and efficient. Catch up quick: Commodity markets let companies use futures contracts to lock in prices for volatile raw materials. - Think airlines locking in jet fuel prices or manufacturers hedging metals prices, which helps them reduce the risk of price fluctuations. - But AI companies don't have an equivalent market for compute, a problem the 20-something founders of Ornn and a…
Liberal economist Paul Krugman is finally discovering what President Trump warned about for years—that unchecked Chinese trade hollows out Western industry. In a recent Bloomberg Television interview, Krugman said conditional tariffs on Chinese cars are “probably going to be necessary” in Europe, arguing that they cannot allow its auto industry to be wiped out by […] The post Liberal Economist Now Admits Tariffs are Necessary appeared first on StoneZone .
Liberal economist Paul Krugman is finally discovering what President Trump warned about for years—that unchecked Chinese trade hollows out Western industry. In a recent Bloomberg Television interview, Krugman said conditional tariffs on Chinese cars are “probably going to be necessary” in Europe, arguing that they cannot allow its auto industry to be wiped out by Beijing-backed competition. That is a remarkable shift from one of the left’s most prominent voices for neoliberal free trade. Krugman has repeatedly attacked President Trump’s tariff agenda, calling parts of it chaotic, illegal, and economically misguided. But when it comes to Chinese vehicles flooding Western markets, even Krugman now admits the old globalization…Open
State of the Union: A third consecutive increase in consumer price inflation was driven primarily by rising energy prices. The post Inflation Soars to Highest Level Since April 2023 appeared first on The American Conservative .
Inflation rose to 4.2 percent year-over-year in May, the highest level since April 2023, according to the Bureau of Labor Statistics consumer price index report. Energy shocks from the Iran War accounted for 60 percent of the price increases. Energy prices continued to soar, rising by 3.9 percent, following a 3.8 increase in April and 10.9 increase in March. Exempting volatile items like food and energy, inflation rose 2.9 percent, still above the Federal Reserve’s 2 percent target. This report marks the third consecutive increase in consumer price inflation, which had stabilized in the months before the war in Iran began. The Federal Reserve group responsible for monetary policy is scheduled to meet on June 16-17, as financial…Open
Reports that President Trump is considering a deal that would allow China to invest $1 trillion in the U.S. are setting off alarm bells among conservative Republicans. China last October reportedly offered to ramp up investment in the U.S. in exchange for the Trump administration rolling back national security restrictions on Chinese deals and providing a break on tariffs for any factories built on American soil, according to Bloomberg. #Trump #China #XiJinping #Tariffs #Technology #Beijing
Data: BoardEx via "Aging at the very top," published by NBER ; Note: Sample includes 50,510 CEOs in U.S.; Chart: Emily Peck/Axios It's not just Congress — the corner office is graying, too, with the average American CEO now 61, up from around 51 two decades ago, a new working paper finds. Why it matters: It's a mixed bag: Older leaders tend to manage businesses that grow more slowly and are less likely to radically innovate, the study finds, in line with prior research. But they also appear to be better at managing companies through more uncertain economic times. By the numbers: The researchers looked at a database of more than 50,000 leaders. They found that the tendency to hire older leaders is more predominant among smaller,…
Your doctor's new prescription might be for a fishing rod, or other goods or services you won't find at a pharmacy. The big picture: With the rise of "social prescribing," physicians are sending patients to choirs, art studios, walking clubs and lakesides. Overstretched health systems and a worsening loneliness epidemic are forcing a hard look at how social interventions can improve mental and physical health. - "The hope is that the care might not merely help address crises such as hospital waitlists and overreliance on prescription medications, but also tackle broader problems including social isolation," Andrew Dickson writes for Bloomberg (gift link ). - The term can encompass anything from programs that connect people with access to…
Bloomberg, moreover, reported that Trump's imposition of the blockade had prompted a greater drop, with only four ships attempting to leave the Strait of Hormuz before the 10 a.m. deadline.
Senate President Mary Felzkowski, R-Tomahawk, said that the attorneys had salary and benefits paid by the Michael Bloomberg-funded New York University State Energy & Environmental Impact Center.
The president has tried to contain economic turmoil by creating a false impression of diplomatic progress. The post As Iran War Spirals, Trump Can’t Fool Markets Forever appeared first on The American Conservative .
Foreign Affairs As Iran War Spirals, Trump Can’t Fool Markets Forever The president has tried to contain economic turmoil by creating a false impression of diplomatic progress. One of the most bizarre contradictions of Trump’s war on Iran has been the wide gap between the scale of the war’s disruption to energy infrastructure and shipping and the surprisingly muted response from financial markets. Iran has made clear that its strategy is to impose severe economic pain on the United States, Israel, and the wider global system by keeping the Strait of Hormuz shut. If that threat were being fully priced in, argues the author Matt…Open
Bloomberg journalist Katrina Manson discusses the Pentagon's secretive campaign to build America's AI warfare capabilities and the obsessive Marine colonel behind it. Her new book is Project Maven.
