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News alert: 200 economists warn on AI jobs
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Including 15 Nobel laureates — and some former skeptics.
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More than 200 economists, including 15 Nobel laureates, warn AI could displace workers faster than any previous technology
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More than 200 economists and researchers — including 15 Nobel laureates and notable former skeptics — released a joint statement Monday warning that AI could
reshape the economy at a speed exceeding the Industrial Revolution, and calling on policymakers to act before the disruption outpaces society's ability to respond. "Steam, electricity, and computers each gave societies decades to adapt; AI may give us only a few years," one of the organizers wrote. The statement arrives as white-collar payrolls have contracted for dozens of consecutive months — a stretch researchers say is without precedent outside of a recession.
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The $2 Trillion Asset Class You're Missing
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While retail investors chase volatile tech stocks, institutions like BlackRock and KKR are quietly allocating billions to private credit—a market that's grown 19x since 2006 and now approaches $2 trillion
globally.
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Why? Private credit offers what traditional portfolios increasingly lack: consistent yield potential (Percent's marketplace delivered 14.9% average net returns in 2024), lower correlation to public markets, and shorter investment horizons averaging just 9 months.
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With Percent, accredited investors can now access the same
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SK Hynix stock opens at $170 on Nasdaq after a record offering.
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The newly listed shares climbed 14% above their issue price on their first trading day, capping the largest U.S. share sale by a
foreign company. SK Hynix's shares in Seoul have surged roughly 630% over the past year despite a pullback.
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<div>
<strong style="color: var(--blue-cta-default)">
<a data-linktext="OpenAI's No. 2 executive steps down due to health issues." data-linktype="Normal" style="color:#105C8E" target="_blank">
OpenAI's No. 2 executive steps down due to health issues.
</a>
</strong>
Product chief Fidji Simo's worsening chronic illness derailed her planned return from an April leave. OpenAI President Greg Brockman and two other executives will absorb her duties amid a wider leadership shakeup.
</div>
</td>
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<strong style="color:
var(--blue-cta-default)">
<a data-linktext="Meta enters the AI coding market with a cost-effective model." data-linktype="Normal" style="color:#105C8E" target="_blank">
Meta enters the AI coding market with a cost-effective model.
</a>
</strong>
Meta priced access at $1.25 per million input tokens and $4.25 per million output
tokens, about a quarter of what rivals Anthropic and OpenAI charge. Meta said the model beats Google's Gemini on agent and coding benchmarks.
</div>
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<a data-linktext="Goldman Sachs bans employees from betting on prediction markets." data-linktype="Normal" style="color:#105C8E" target="_blank">
Goldman Sachs bans employees from betting on prediction markets.
</a>
</strong>
The bank's revised policy bars wagers tied to companies, elections, and economic data. Sports betting, however, is still allowed. The change follows a federal insider-trading case tied to Polymarket bets on search rankings.
</div>
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</a>
</td>
<td class="editor-cell-text td100" colspan="4" style="background-color:#EFEFEF;padding:10px;font-size:15px;font-family:Arial,Helvetica,sans-serif;width:66.6667%;line-height:1.4;vertical-align:top;color:#000000;mso-line-height-rule:exactly">
<div>
<strong style="color:#105C8E">
<a data-linktext="Anthropic adds a former Fed chair to its AI oversight board." data-linktype="Normal" style="color:#105C8E" target="_blank">
Anthropic adds a former Fed chair to its AI oversight board.
</a>
</strong>
Ben Bernanke led the Federal Reserve from 2006-14 and won a 2022 Nobel Prize for his research on financial crises. He joins
the trust as its fourth member to help track how AI shapes the economy and jobs, but won't hold an equity stake.
</div>
</td>
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