Episode 398: IBM's Market Collapse, AI Hardware Wars, and the Great Wealth Flight

In this episode, we unpack a dramatic news cycle: IBM's worst trading day since 1987 after missing earnings despite recent government quantum funding; Trump's reversal of his Strait of Hormuz toll plan amid escalating US-Iran tensions; OpenAI's upcoming Jony Ive-designed screen-free AI speaker facing Apple's $6.4B trade-secrets lawsuit; New York's first-in-nation data center construction ban; Demis Hassabis's proposal for independent AI safety oversight; JPMorgan's disclosure of 40% workforce cuts enabled by AI; China's expulsion of New York Times correspondent Vivian Wang; surging foreign Treasury holdings; and a 183% surge in dual citizenship applications among wealthy Americans. We explore what these stories reveal about market confidence, geopolitical instability, the acceleration of AI-driven displacement, and growing anxiety among the wealthy about the future. Hosted on Acast. See acast.com/privacy for more information.