David Lidsky's Blog, page 313

Most Americans don’t expect to ever get rich, but they think the next generation will

A new survey from Fidelity finds Americans at all income levels worry about losing their money, and most don’t see themselves as wealthy.

While inflation has slowed to 2%, prices are still 20% higher than they were four years ago. Fidelity released the findings of its 2024 State of Wealth Mobility study, which consisted of 1,900 American adults over the age of 18, and set out to identify their thoughts on managing their money and meeting their financial goals. Here are some of the key highlights:

‘PDF to brainrot’ tools are bringing TikTok visuals to Gen Alpha’s academics

Companies such as Coconote and StudyRot are now letting users turn their study guides into brainrot videos.

If you’ve never heard the term “skibidi” or “sigma,” congratulations, your brain is not yet rotted. Brainrot is a term used to describe low-quality internet content and the effects of spending too much time consuming it. Otherwise known as, being terminally online. However, several AI-based study tools are putting it to good use. 

Why celebrity look-alike contests are all the rage right now

Organic, powered by word of mouth, and so far uncorrupted by corporate sponsors, a new wave of doppelgänger competitions might just be too good to last.

Idolizing celebrities is so pervasive in pop culture that it is considered a high compliment for a friend or stranger to tell you that you resemble a famous athlete, singer, or actor.

Study: This is how much money you need to earn to be financially successful

A study by the financial services company Empower found that this is the annual income that indicates financial success. But respondents also said success was about more than just wealth.

For years, researchers have tried to pinpoint the amount of money Americans need to earn in order to feel happy. One oft-cited study from 2010 put that number at just $75,000, but subsequent research has found that happiness can actually keep increasing until your income crosses $100,000.

$4 billion more: Amazon deepens its bet on generative AI with Anthropic

Anthropic’s safety-first approach to AI development aligns with Amazon’s strategy to lead in both innovation and ethical AI.

Competition among generative AI companies is heating up. On Friday, Amazon announced it would invest another $4 billion in the generative AI company, Anthropic. In little more than a year, the tech giant has now dumped at least $8 billion into the brand.

Phillips 66 accused of violating the Clean Water Act in California

The company allegedly dumped wastewater from its Carson oil refinery into the Los Angeles County sewer system in 2020 and 2021 and did not report the violations, DOJ prosecutors said.

Oil company Phillips 66 has been federally indicted in connection with alleged violations of the Clean Water Act in California, authorities said Thursday.

Northvolt files for bankruptcy—putting the breaks on Europe’s EV dreams

Northvolt transformed in a matter of months from Europe’s best shot at a homegrown electric-vehicle battery champion to a struggling company.

Northvolt, the Swedish maker of battery cells for electric vehicles, said on Thursday it has filed for Chapter 11 bankruptcy protection in the U.S., dealing a blow to Europe’s hopes that its most developed battery player would reduce Western car makers’ reliance on Chinese rivals.

‘As expected, it has attracted attention’: Jaguar says ad that prompted anti-woke backlash did its job

The carmaker’s boundary-pushing commercial has been controversial, but the company says that’s hardly surprising.

Tens of thousands of people on social media are criticizing luxury automaker Jaguar’s new controversial rebranding, calling it confusing and out of touch with today’s consumers. The new ad campaign leaves out the main attraction—its new electric cars, and also ditches its iconic big cat logo.

The Bahamas to refinance debt to protect its waters

It is the fifth such debt-for-nature swap in the world, with the Bahamian government signing the deal with The Nature Conservancy, the Inter-American Development Bank and other financial partners.

The Bahamas announced Friday that it will refinance $300 million of its external debt to free up more than $120 million for marine conservation projects and climate change mitigation.

‘Throning’: Dating apps have given new life to this old-school trend

Think Kim Kardashian and Kanye West or “Industry” leads Yasmin and Henry.

It’s no secret that connections can open doors. Well, the same applies to romantic connections, and a new dating trend seems to be taking that advice and running with it.