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Yahoo
22 minutes ago
- Yahoo
'We've Been Served': Paul Tudor Jones Warns AI Could Be a 'Cookbook' For Humanity In A Chilling 'Twilight Zone' Warning
"This is obviously the most disruptive technology in the history of mankind," billionaire investor Paul Tudor Jones said last month. "We've been served," Jones warned during an appearance on "Bloomberg Open Interest," casting artificial intelligence as a force that demands urgent scrutiny. His remarks sparked debate over looming job losses, classroom breakthroughs, and whether Congress can craft guardrails before machines outrun lawmakers. The Twilight Zone Cookbook Warning Jones invoked the 1962 "Twilight Zone" episode "To Serve Man," where grateful earthlings later learn the aliens' gift is a cookbook. "It seemed humanitarian, but it turns out to be a cookbook," he said, arguing that a helpful-looking algorithm could hide a deadly recipe. Don't Miss: Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Many are rushing to grab Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — Tesla (NASDAQ:TSLA) CEO Elon Musk echoed the fear during a February appearance on "The Joe Rogan Experience", estimating a 20% chance AI could wipe out humanity—a risk Jones said should "set off alarm bells throughout the world." Jobs Forecast Sparks Economic Alarm Anthropic CEO Dario Amodei told Axios in late May that U.S. unemployment could vault from about 4 % to between 10%-20 % within five years as large-language models automate routine white-collar roles, including contract drafting and balance-sheet analysis. He added that junior analysts, paralegals, and entry-level coders face the greatest risk because their duties mirror model-training data almost verbatim. The projection tracks with the World Economic Forum's Future of Jobs Report 2025, which expects automation to reshape 85 million positions globally by 2027. Jones warned that banking, consulting, law, and media tasks are "already being done faster, sometimes better, by machines," raising the chance of simultaneous layoffs that could test social-safety nets. Trending: $100k+ in investable assets? – no cost, no obligation. Tutors Bills And The Race To Regulate Even so, Jones said AI's upside "can be profound" in classrooms. The U.S. Department of Education's proposed fiscal 2025 budget includes nearly $500 million for adaptive-learning pilots. A Stanford-led study from 2024 found that students using AI-assisted tutoring were 4 percentage points more likely to master math concepts, with the largest gains—up to 9 percentage points—among those paired with lower-rated human tutors. Supporters argue that virtual tutors, available around the clock, could narrow stubborn achievement gaps. Regulation remains the wild card. Jones criticized President Donald Trump's so-called One Big Beautiful Bill for including a moratorium on new AI rules, saying it risks letting the "cookbook" publish itself. Senate Minority Leader Chuck Schumer (D-NY) is instead championing an independent oversight agency and at least $32 billion in emergency funding. Meanwhile, the National Institute of Standards and Technology released the AI Risk Management Framework in January 2023, yet Jones called voluntary guidance "nowhere near sufficient." Read Next: This AI-Powered Trading Platform Has 5,000+ Users, 27 Pending Patents, and a $43.97M Valuation — Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? TESLA (TSLA): Free Stock Analysis Report This article 'We've Been Served': Paul Tudor Jones Warns AI Could Be a 'Cookbook' For Humanity In A Chilling 'Twilight Zone' Warning originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22 minutes ago
- Yahoo
Circuit-Board Maker Victory Giant Is Said to Consider Hong Kong Listing
(Bloomberg) -- Victory Giant Technology (Huizhou) Co. is considering a listing in Hong Kong that could raise about $1 billion, according to people familiar with the situation. Why the Federal Reserve's Building Renovation Costs $2.5 Billion Milan Corruption Probe Casts Shadow Over Property Boom How San Jose's Mayor Is Working to Build an AI Capital The maker of printed circuit boards is working with advisers on a potential second share sale that may take place as soon as this year, the people said, asking not to be identified because the information is private. Considerations are preliminary and details such as the size and timing of an offering could change, the people added. 'The company is currently in discussions with relevant intermediaries regarding its proposed H-share issuance and listing,' Victory Giant Technology said in a filing to the Shenzhen stock exchange after the Bloomberg News report. Details have not been finalized yet, the company added. Founded in 2006, Victory Giant Technology has traded on the Shenzhen stock exchange for about a decade. Its shares are up 270% this year, giving the company a market capitalization of about 134 billion yuan ($19 billion). Companies listed on mainland Chinese exchanges have been flocking to Hong Kong for fundraising, helping to drive a sixfold increase in share sales in the city in the first half of the year. With Chinese regulators signaling support for the moves, so-called A-H listings accounted for the majority of Hong Kong's proceeds from first-time share sales in the six months through June. Victory Giant Technology's first-quarter net income surged 339% from a year earlier to 921 million yuan, boosted by the artificial intelligence boom. --With assistance from Dong Cao. (Adds comment from Victory Giant in fourth paragraph) A Rebel Army Is Building a Rare-Earth Empire on China's Border Elon Musk's Empire Is Creaking Under the Strain of Elon Musk Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All What the Tough Job Market for New College Grads Says About the Economy ©2025 Bloomberg L.P. Sign in to access your portfolio
Miami Herald
23 minutes ago
- Miami Herald
Amazon's quiet pricing twist on tariffs stuns shoppers
We've all had that moment when you're scrolling through an Amazon (AMZN) Prime Day deal, scoop something cheap, and feel like you're winning. Well, hold that thought. Though Amazon may still be handing out headline discounts, something a little less obvious is unfolding behind the scenes. Don't miss the move: Subscribe to TheStreet's free daily newsletter It turns out that arguably the biggest name in retail just made a subtle move. Though shoppers might not have noticed that right away, the reasons behind it have everything to do with politics, and a promise that suddenly feels a little slippery. Image source: Bloomberg/Getty Images Tariffs may sound like a win for American industry. In reality, though, they often end up costing regular people the most. When policymakers slap duties on imports, they say they're looking to protect domestic producers. However, history has shown that those taxes almost always impact consumer prices. In 1930, the Smoot–Hawley Tariff Act raised U.S. import taxes by over 50%. The result was that prices on clothing and home goods spiked, global trade tanked, and the Great Depression worsened. Fast forward to 2002. President George W. Bush imposed steel tariffs as high as 30%. That helped steelmakers but weighed down automakers, appliance brands, and construction companies. Related: Top economist drops 6-word verdict on Trump tariffs, inflation On top of that, we saw a marked increase in unemployment, prices climbed, and economic growth took a hit. Even "niche" tariffs ripple far. In 2018, washing machine duties led to a 12% jump in prices for washers and dryers (those weren't taxed). The University of Chicago estimated that it cost U.S. consumers a whopping $1.5 billion per year. That's because businesses can only respond to tariffs in three ways: stomach the cost, move production, or pass it down the line. Most opt for the third, which leaves shoppers holding the bag, especially when smaller businesses aren't able to negotiate better deals or spread out the pain. More News: Bank of America quietly reboots Microsoft stock price targetJPMorgan reveals 9 stocks with major problemsRigetti shakes up quantum computing with bold advance President Donald Trump's tariffs today follow a similar pattern. The goal is to boost domestic output significantly, but it's likely to end up shrinking choice while hiking costs for shoppers. And when other countries hit back with their own tariffs, American exporters also feel the heat. Though Amazon insists it's committed to keeping costs low, a recent report suggests otherwise. According to the Wall Street Journal, the e-commerce giant has been quietly raising prices on hundreds of essential items since President Trump's tariffs were announced in April. From deodorants to pet food, shoppers are feeling the squeeze, even if they haven't noticed yet. Amazon tariff prices on low-cost goods increased by an average of 5% from April to July, the report said. That may sound relatively low, but individual items paint a different picture. Related: Major analyst revamps Nvidia stock price target after China surprise For instance, a single can of Campbell's clam chowder jumped nearly 30%. That's far from being a rounding error. It stings a lot more because Amazon CEO Andy Jassy had pledged to shield consumers from the fallout of Trump administration tariffs. They even doubled down during Amazon Prime Day deals, underscoring the importance of savings and affordability. However, in reality, it seems Amazon is absorbing costs on higher-ticket items while quietly letting prices climb on everyday goods. What's surprising is that Amazon sellers say they haven't upped their wholesale prices, suggesting the retail giant is looking to make a call on its end. Still, Amazon's rivals aren't following suit. Walmart recently lowered prices on comparable products, while Target is finding other ways to cut costs before touching prices. All of these positions put Amazon in a tricky spot. While it's still offering discounts on big-ticket items, its strategy on essentials offers an entirely different take, one shaped more by tariffs than consumer relief. As the Trump administration's trade policies evolve, shoppers may want to look at their carts as closely as their savings. Related: Bank of America makes its boldest AMD call yet The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
