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The Latest Breaking News from Larry Summers

The finance world mostly agrees: Trump’s tariffs are bad news

The president himself said there might be some pain. He has delivered it.

Fortune

Larry Summers warns bubbling asset prices are hitting levels of froth last seen prior to the financial crisis

Investors have become complacent about risk, Summers says, succumbing to the kind of exuberance that preceded the 2008 crash or the dotcom collapse.

Fortune

Lawless IV: Leadership Failures Old and New

The pandemic showed the weakness of the leadership class. [UPDATE: Inadvertently posted it under my byline, but it's of course Ilya Shapiro's post, as the byline now reflects. -EV]

Reason

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read the most diverse news in one place.

Former Harvard president Larry Summers slams Ivy League schools for putting ‘social justice’ over excellence

The majority of Harvard’s Gen Z students are graduating with straight A’s. Here’s why that’s a workplace problem in Larry Summers’ eyes

Fortune

For roughly $30,000, this company gives you a 98% chance of getting into Harvard and the Ivy League

College is already expensive, and Crimson Education believes paying extra for top-notch admissions help is worth it.

Fortune

Trump's plan to create a national Bitcoin reserve is 'crazy' says former Treasury Secretary

President-elect Trump proposed creating a strategic Bitcoin reserve, in part to beat out China.

Fortune

Cathie Wood Bets On Thriving IPO Market Under Trump: 'Will Give...Liquidity Events That They Have Not Enjoyed During The Last Four Years'

Her comments, made during a session released last Friday, comes at a time when the market is experiencing increased volatility that anticipated the effect of a second term of Trump on the Wall Street.

Benzinga

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Walmart Alerts Shoppers: Expect Price Hikes If Trump's $3 Trillion Tariff Plan Takes Effect

Walmart highlighted during its recent Q3 earnings call that it could raise prices on several of its products if Trump's plan to raise tariffs by 10% on all US imports is implemented during his second term.

International Business Times UK

Will Trump's economic policies really cause 'the mother of all stagflations'? Here’s what experts say

Unlimited Funds' Bob Elliott argues only part of Summers’ forecast seems valid: “Tariffs, at their core, are a regressive tax that is inflationary...But they're also a modest support to U.S. economic conditions.”

Fortune

Kevin O'leary Proposes ANWR Oil Royalty Plan To Reduce Debt

Larry Summers warns of inflation risks under Trump's policies and proposes emulating Norway's oil wealth management to reduce U.S. debt.

Top News

Anthropic's position on AI safety is helping it attract researchers from OpenAI

Anthropic's stance on AI safety is helping it lure AI researchers away from OpenAI, whose trust and safety credentials taken a battering in recent weeks.

Fortune

Most Americans Aren't Buying Biden's Misleading Narrative That the Economy Is Getting Better

The question of how best to measure inflation has no single and straightforward answer, but most people know that the president's economic claims aren't true.

Reason

Here's a big reason why people may be gloomy about the economy: the cost of money

Former Treasury Secretary Larry Summers argues that high interest rates are contributing to people's gloomy economic mood. Sentiment may improve, though, if the Federal Reserve begins to cut rates.

WEKU

The 'Vibescession' Will Continue Until Interest Rates Fall

A new economic paper explains why interest rates are the missing piece to understanding why people are unhappy about a seemingly strong economy.

Reason

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International Business Times UK

OpenAI Delays Launch Of Custom GPT Store, Here's Why

One of the recently appointed board members at OpenAI, Larry Summers has emphasised the importance of operating as a corporation with a conscience.

Windows Central

Strange Sam Altman saga concludes with Altman back as OpenAI CEO and Microsoft holding a non-voting seat on the board

OpenAI co-founder Sam Altman is back at the company as CEO after being fired earlier this month. The move coincides with a major restructuring of the OpenAI board, which now includes Microsoft as a non-voting member.

Fortune

3 problems with the new OpenAI board and what the company needs to do next

Diversifying the board may be the most urgent issue facing OpenAI's directors.

Fortune

Sam Altman is back at OpenAI. Where are the women?

The two women on the leading AI company's board are out. Three men are in.

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news in one place.

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Fortune

Larry Summers, who more and more thinks 'ChatGPT is coming for the cognitive class,' just joined OpenAI's board to seal Sam Altman's triumphant comeback

The former Treasury secretary told Bloomberg months ago that "the people who write articles and their friends" are more at risk from tech this time around.

PC Gamer

OpenAI co-founder makes spectacular return mere days after ousting, with the board that fired him mostly swept away

Don't mess with Microsoft.

Windows Central

Sam Altman is back at the helm as CEO after a chaotic weekend-long fiasco for OpenAI

OpenAI's weekend-long fiasco seems to have ended after the company issued a statement announcing the reinstatement of Sam Altman as the company's CEO with a new initial board.

Al Jazeera

OpenAI averts internal crisis with return of CEO Sam Altman

The AI research firm is restoring Altman as CEO after his sacking last week threatened a mass exodus from the company.

Tom’s Hardware

Sam Altman and Greg Brockman to return to OpenAI just days after being fired

Sam Altman returns to OpenAI after being ousted, Microsoft's Satya Nadella welcomes the move.

The Guardian - UK

Government may sell its NatWest stake to UK public; Grangemouth oil refinery to shut – as it happened

‘It’s time to get Sid investing again,’ Hunt says; Scotland’s sole oil refinery at Grangemouth is due to cease operations in 2025

Fortune

Sam Altman returns as OpenAI CEO, adds Larry Summers to new board

The ChatGPT developer will have a new board, after its former directors agreed to unceremoniously fire Sam Altman as CEO.

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