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AI Creates Photo Evidence Of 2001 Earthquake That Never Happened



AI Creates Photo Evidence Of 2001 Earthquake That Never Happened

Fake image created with AI depicting the fictional Cascadia earthquake of 2001, published with the … [+] caption “Amateur video captures the moment a magnitude 9.1 earthquake strikes off the coast of Oregon on April 3rd, 2001”

Midjourney / Reddit

Do you remember the Great Cascadia earthquake and tsunami that hit the Pacific Northwest in 2001? Well, you shouldn’t, because it never happened. But there are now photos of this completely fake event circulating on the internet. And it’s a great case study in how images created with artificial intelligence tools like Midjourney can rewrite history with minimal effort.

Photo-realistic images of the fake tragedy were posted to the Midjourney forum on Reddit a few days ago, where people who experiment with AI art share their creations. The post became so popular that it was pushed to the so-called “front page” of Reddit, where some people who didn’t realize they were looking at AI-generated images admitted they thought it must be real.

“I was immediately convinced because I didn’t have my guard up at all. I use the software often, edit art & photography for my current job, and have a healthy dose of fear of the singularity and STILL, my brain gave off zero ‘This ain’t real’ signals,” one user commented.

Fake devastation in Seattle from a fake earthquake imagined by AI-image creator Midjourney, … [+] published with the caption, “Major segments of the Alaskan Way Viaduct in Seattle suffered major damage, if not a complete collapse”

Midjourney / Reddit

The completely fake Great Cascadia earthquake registered as a 9.1, according to Reddit, and the photos of the devastation look terrible. The Reddit post has 20 images that could easily pass as a real historical event. But, again, these aren’t real photos. None of this happened.

The photos even have captions that explain the fake events, such as, “Rescue workers in Vancouver, BC, pull trapped survivor from the rubble of a collapsed bookstore.” The details give the whole thing an air of legitimacy, despite the fact that it’s all a complete fiction.

Some of the images are chilling just for how much they resemble the aftermath of the very real terror attacks on September 11, 2001. The AI image creators clearly drew inspiration from that day for these fake photos.

Fake images created with AI that depict the aftermath of an earthquake that never happened.

Midjourney / Reddit

As countless internet sleuths have learned, the quickest way to tell if you’re looking at an image that’s been created with AI is to look at the hands and teeth. AI still struggled with creating hands for some reason.

For example, take a look at the fake photo below. Notice anything weird about the visible hand?

Fake image posted to Reddit with the caption “Resident in Tofino, BC, recovers a Canadian flag from … [+] the piles of debris following the tsunami.”

Midjourney / Reddit

That person is facing away from the camera, but their hand is holding that Canadian flag in a way that would perplex even the most skilled circus contortionist.

Closer view of the backwards hand in this AI-created image.

Midjourney / Reddit

As another commenter points out, for some reason these images aren’t being flagged by AI-detection software, like the site at Hugging Face. For example, I ran that Canadian flag image through the Hugging Face AI Detector software and it only came back with a 54% likelihood that it was fake. The second image in this post came back as 86% real, which it most certainly is not.

Midjourney lets anyone create incredibly realistic images by merely typing out text, and the photo-realistic images are created in mere minutes, which has led to confusion on social media in recent months. We’ve seen everything from Donald Trump getting arrested to Pope Francis wearing an enormous puffer coat.

Trump even shared a fake photo of himself praying, but it was actually generated using the same artificial intelligence tools that created the fake Cascadia earthquake of April 3, 2001. Another president—this time George W. Bush—got the AI treatment in his fake visit to Tacoma, Washington after the fake quake.

Fake image created with AI depicting “President George W. Bush meeting with the Mayor of Tacoma, WA”

Midjourney / Reddit

While it’s one thing to be creating fake news, creating fake history that humans may or may not remember is definitely a new wrinkle for those of us who live so much of our lives online. And as this technology proliferates, it’ll only get harder to tell which images are real and which are fake.

The machines will figure out how to create better human hands sooner or later. And when that day comes, we’ll all be left to wonder if we really trust our lying eyes.

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Cody Kerns On Supporting Companies as a Fractional COO




In the ever-changing digital landscape where businesses either thrive or face market decline, building a successful business requires a competent team of experts and potential clients. To scale up your business, there is a crucial involvement of business consultants who possess marketing knowledge and an understanding of operational planning and execution. It is beneficial to have Fractional COOs in your organizational structure which contributes to the overall team development which further leads to the success of the business. This is where the significance of a Fractional COO becomes apparent, offering one of the esteemed services provided by Kerns Marketing.


Fractional COO and Its Advantages

A Fractional Chief Operating Officer (COO) is a type of business consultant who works part-time, delivering on-demand COO services to industry professionals. Operating collaboratively with various clients, a fractional COO allocates a portion of their expertise to each one of them accordingly. 

These Fractional COOs are experienced executives with profound knowledge of business and marketing operations, contributing to the business growth. They bring a fresh perspective to the table due to their knowledge and expertise and also leverage their diverse experience as they’ve already worked with many clients across the industries. Their adaptability allows them to quickly understand the situation and find solutions that are tailored according to the needs of the client.

Fractional COOs specialize in enhancing operational efficiency and profitability, assisting in the planning and implementation of operational marketing strategies, overseeing team performances, and streamlining workflows.

The benefits of having a Fractional COO include collaboration with the business development team to plan and execute operational marketing strategies aligned with the overall goals of the company. They delegate leadership duties to team members, improving efficiency and communication. This plays a crucial role in overall development. Additionally, they manage the financial aspects, such as budgeting and financial reporting, and oversee the technology infrastructure, providing insights into potential risks for refined future planning and overall company performance.

Kerns Marketing

Kerns Marketing is the entrepreneurial journey of accomplished leaders, including the CEO Cody Kerns, COO Sergio Troconis, and VP Justin Freishtat. They are a well-known figure in business marketing and the digital domain. Building an 8-figure business and achieving 8-figure milestones within the first year of launch. Cody has established a broad network and valuable connections, ensuring high-quality services and long-term client relationships. Specializing in digital marketing platforms, Kerns Marketing excels in building and promoting brands to diverse audiences.

Methodology of Kerns Marketing

Kerns Marketing employs the Six Sigma methodology to enhance efficiency in the marketing system. The process begins with defining the problem, followed by a thorough analysis to understand the root causes of poor performance. Addressing and eliminating these root causes results in improved performance and refined future processes.


In this ever-changing digital domain where businesses exist or face a decline in the market, to grow your business, one needs to have a proper team of experts and potential clients, here the significance of a Fractional COO becomes evident, representing one of the esteemed services offered by Kerns Marketing.

Elevate your business with Fractional COO services from Kerns Marketing. Visit their site today and embark on a journey towards enhanced efficiency, profitability, and sustainable growth.

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Capital One is set to acquire Discover, forming a massive consumer lending company




In a deal that would combine two of the biggest credit card firms in the country, Capital One said on Monday that it will buy Discover Financial Services for $35.3 billion in all-stock.

According to Matt Schulz, chief credit analyst at LendingTree, “a space that is already dominated by a relatively small number of megaplayers is about to get a little smaller.”

One of the biggest banks in the country, Capital One has $479 billion in assets and offers credit cards through networks managed by Mastercard and Visa. By acquiring Discover, it will increase its client base to over 100 million by gaining access to a credit card network with 305 million cards.

Capital One said on Monday that it will acquire Discover Financial Services for $35.3 billion in all-stock, combining two of the largest credit card companies in the nation.

The head credit analyst at LendingTree, Matt Schulz, states that “a space that is already dominated by a relatively small number of megaplayers is about to get a little smaller.”

With $479 billion in assets, Capital One is one of the largest banks in the nation and provides credit cards through networks run by Visa and Mastercard. By purchasing Discover, it will get access to a credit card network that has 305 million cards, growing its customer base to over 100 million.

Following the announcement last month by the Office of the Comptroller of the Currency that it planned to slow down merger and acquisition approvals, Capital One’s acquisition will mark one of the first trials of regulatory scrutiny on bank transactions.

Mr. Schulz stated, “It’s hard to know which way it would go, but given the money and size of the companies involved, there will definitely be a lot of attention paid to this deal.”

According to David Schiff, a senior partner at West Monroe, a digital services consulting firm, other financial dealings have come under more scrutiny, which has complicated the situation.

Among them is the billions of assets that New York Community Bank bought from Signature Bank during the previous year’s regional banking crisis.

After posting a significant loss for the most recent quarter, New York Community Bank said that it will increase its capital reserves to serve as a safety net against potential issues. Although the declining commercial real estate market is mostly to blame for its problems, Mr. Schiff noted that politicians may use the acquisition as an example of a regulator that moved too quickly to approve it.

A 26 percent premium, based on the closing stock price of Discover on Friday, will be paid by Capital One to Discover stockholders as part of the transaction.

Approximately 60% of the merged business will be owned by Capital One shareholders upon the deal’s closing, which is anticipated in late 2024 or early 2025 and is pending regulatory clearance. The remaining 40% will be owned by Discover shareholders.

At Friday’s market closing, Discover was valued at roughly $28 billion, while Capital One was estimated to be worth over $52 billion.

The agreement is a component of Capital One’s plan to establish a worldwide payments network that would enable it to collaborate directly with small and independent retailers. Additionally, it offers Discover more size to rival other credit card providers. According to Capital One, the agreement would result in pretax savings of $2.7 billion.

Richard Fairbank, the founder, chairman, and CEO of Capital One, stated in a statement, “Our acquisition of Discover is a singular opportunity to bring together two very successful companies with complementary capabilities and franchises, and to build a payments network that can compete with the largest payments networks and companies.”

Velocity Black is a digital concierge that combines travel, entertainment, dining, and shopping options for customers. Capital One purchased the company in June.

Discover is coming out of a turbulent time. In August, Roger Hochschild, the company’s former CEO, announced his resignation in the midst of a regulatory investigation into credit accounts that had been misclassified. The business announced Michael G. Rhodes as its new CEO in December after announcing in October that it was improving corporate governance. In comparison to the same period the previous year, the company’s earnings in the fourth quarter of 2023 decreased by 62 percent.

In 1985, the Discover card was launched by the former massive retailer Sears. Later, Discover joined Morgan Stanley, and in 2007 the investment bank separated it through an IPO of its own shares.

“Regulators view this as a white knight coming in to help fix a troubled player in the market or whether they view this as a limitation of competition — and therefore something to avoid,” Mr. Schiff said, referring to Discover’s recent difficulties.

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Sun Day Red, Tiger Woods’ New Brand, is Unveiled





Even for people who have only a casual interest in golf, one of the most iconic pictures from the game is of Tiger Woods winning a major tournament while donning a red polo shirt with a white Nike swoosh.

But that image is now firmly in the past. Mr. Woods made the announcement in January that his 27-year contract with Nike, which had brought him hundreds of millions of dollars, was ending. Not to mention the red Nike shirts that Mr. Woods wore during the final rounds, the alliance was characterized by iconic advertisements.

Mr. Woods stated there would “certainly be another chapter” when he revealed the breakup with Nike. He and his new brand sponsor, TaylorMade Golf, made it plain on Monday that a red polo shirt would be part of the next chapter once more. It will be embroidered with Sun Day Red, his new TaylorMade brand, and a tiger in the middle as the emblem.

According to David Abeles, chief executive of TaylorMade, Sun Day Red is positioned as a “lifestyle brand” for both sports enthusiasts and non-athletes. It will feature shoes and clothing, including cashmere jumpers, in an interview. (Mr. Woods moved from Nike to FootJoy shoes following his 2021 vehicle accident.)

Although it was unclear how much design would be included in that clothing, Mr. Abeles stated that “the design language of the products is completely different” from what Mr. Woods wore in his previous sponsorship agreement. The brand’s initial promotional images featured a new logo: a black, long-sleeve T-shirt with Sun Day Red, the brand’s name; a tiger with 15 stripes, representing the number of major championships Mr. Woods has won; and its take on the red polo, which is on the darker end of the red spectrum and has black buttons, suggesting attention to detail. (To be honest, a polo can only be used for so much.)

Red has special meaning in Thailand, where Mr. Woods’ mother is from, which explains his fondness for the color.

“We went over what he thinks is the red that goes best with his color scheme,” Mr. Abeles stated. “He chose the color red because it is the most noticeable and most in line with the color red that he feels has inspired him.”

Regarding the gap between “Sun” and “Day,” Mr. Abeles explained that it was intended to emphasize the brand’s status as more than just a weekly fit.

He remarked, “You know, Tiger has made Sunday red extremely famous on Sundays.” However, Mr. Abeles noted that Mr. Woods “plays golf more than just Sunday.”

Sun Day Red’s goal, if not design, speaks to a growing trend in which sportsmen perceive long-term promise in the growing combination of sports and fashion into a single “lifestyle” category.


Initial promotional images from TaylorMade to promote the new Sun Day Red brand the company is working on with Tiger Woods. Credit…Sun Day Red


Sun Day Red











As a result, a lot of them want more ownership and control over their own brand and are less interested in being walking billboards for sponsors. In 2019, Roger Federer joined the Swiss sneaker firm On as an investor and guest designer. In 2022, Tom Brady launched Brady, a menswear line created in collaboration with Jens Grede, the designer of Kim Kardashian’s Skims. Additionally, Serena Williams owns her own clothing brand, S by Serena.

If Mr. Woods owned stock in the brand, Mr. Abeles would not say.

Within TaylorMade, Sun Day Red will function as a separate brand with a dedicated staff of designers and a separate headquarters. Brad Blankinship, formerly of Quiksilver, has been chosen by the company to manage day-to-day operations.

On May 1, Sun Day Red will launch its products for online purchase, with plans to eventually go global. $115 to $175 will get you a polo shirt, while $250 to $350 will get you a cashmere sweater.

Since Nike closed its equipment business in 2017, Mr. Woods and TaylorMade have an equipment agreement. Over the past few months, the business has approached Mr. Woods about expanding their partnership, according to Mr. Abeles. The TaylorMade team gave Mr. Woods a pitch video that “really connected with his legacy, his greatness, his values, and his future” during one of their visits to his Jupiter, Florida, boardrooms.

Nearly five years after winning his last major tournament, Mr. Woods is now, in many ways, starting a new chapter in his professional life. He became a significant member of the PGA Tour’s board of directors last year, and he has been involved in discussions regarding the tour’s future.

On Monday, while he was in Southern California hosting the Genesis Invitational tournament, Mr. Woods made the announcement about the TaylorMade partnership.

Mr. Woods stated in a statement, “I have a lifetime of experience adjusting my clothes and shoes to help me play better based on its construction. I have learned so much over the years.” I could tell you about things I’ve done over the years that nobody has ever known about. I’m prepared to reveal those secrets to everybody.

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Lawmakers Discover That US Companies Spent $1 Billion on Chinese Chips




Five American venture capital firms have spent more than $1 billion in China’s chip industry since 2001, according to a congressional probe. This has fueled the expansion of a sector that the US government now views as a national security concern.


More than 150 Chinese companies received funding from the five firms—GGV Capital, GSR Ventures, Qualcomm Ventures, Sequoia Capital, and Walden International—according to a report released on Thursday by the House Select Committee on the Chinese Communist Party, which included both Democratic and Republican members.


Approximately $180 million of the investments went to Chinese companies that, according to the committee, either directly or indirectly backed Beijing’s armed forces. The U.S. government has stated that certain corporations, such as Semiconductor Manufacturing International Corporation (SMIC), China’s largest chipmaker, supply chips for China’s military research, equipment, and weaponry.


The House committee’s report centers on investments made prior to the Biden administration enacting broad regulations meant to prevent China from receiving finance from the United States. It makes no accusations of illegality.


The Biden administration prohibited American venture capital and private equity firms from making investments in Chinese sophisticated semiconductors, artificial intelligence, and quantum computing in August. Additionally, it has placed global restrictions on the supply of sophisticated semiconductors and chip-making equipment to China, claiming that such technologies could enhance the capabilities of China’s intelligence services and armed forces.


The group, which was founded a year ago, has advocated for more tariffs on China, criticized Ford Motor and other companies for doing business with Chinese firms, and brought attention to issues with forced labor involving Chinese e-commerce sites.


The report proposed that Congress limit investments in parent firms and subsidiaries of all Chinese entities that are listed as federal “red flag” entities or that are subject to specific trade restrictions in the United States. This would include businesses that have connections to forced labor in China’s Xinjiang province or collaborate with the Chinese military. The ranking Democratic member of the committee, Representative Raja Krishnamoorthi of Illinois, stated that the federal government ought to think about enforcing regulations on other sectors of the economy, such as biotechnology and fintech.


Prior to the committee announcing its probe into private finance, Sequoia declared in June that it would rebrand its China division as HongShan and split it apart from its American operations. A few months later, GGV Capital announced that it will split off its company centered in Asia.


A request for comment from Walden was not answered. An official from GSR declined to provide a statement. GGV said that the report had complied with all relevant legislation and included a list of clarifications and revisions. Moreover, GGV is attempting to sell its interests in the three businesses covered in the report.


According to a representative for Sequoia, the company has always had procedures in place to guarantee adherence to US law and national security concerns. On December 31, the company completed its separation from HongShan.


According to a Qualcomm representative, the company’s investments accounted for less than 2 percent of the total investments covered in the report, making them modest in comparison to venture capital firms’ holdings.


Washington officials argue that China has attempted to use the private sector’s experience to modernize its military, making them view economic relationships—even with private Chinese technology companies—as worrisome.


The chairs of the committee acknowledged that a large number of these investments were made during a period when the US was pushing for increased trade with China.

“We all placed this wager on China’s assimilation into the world economy two decades prior, and it made sense,” the committee’s chairman, Wisconsin Representative Mike Gallagher, said. “It just so happened to not work out.” “Now, I just think there’s no excuse anymore,” he continued.


The 57-page report is based on interviews with senior executives at many corporations and information concerning investments that the firms gave the committee.


The committee’s findings examined a small portion of the money going to China. According to start-up funding tracker PitchBook, Chinese semiconductor businesses raised $8.7 billion in deals between 2016 and July 2023, with the participation of US investment firms. 2021 was the investment’s peak year.


For several decades, venture capital firms actively targeted worldwide expansion, with a particular focus on Asia. However, they have anticipated that investments in Chinese enterprises would come under more scrutiny ever since the Trump administration adopted a more assertive posture toward China.


An investor at the venture capital firm Kyber Knight, Linus Liang, stated, “Nobody is touching China now.”


The committee’s worries that American funding and technology will wind up in Chinese enterprises might not be allayed by breaking up investment entities with ties to China, as Sequoia and GGV did, the article said. Among its supporters are American investors in HongShan, the recently split Chinese company of Sequoia. Furthermore, the report stated that GGV Asia and HongShan could continue to invest in U.S. start-ups.


The corporation Walden International, based in California, is mostly the subject of the article. It was among the first and most significant foreign investors in the Chinese semiconductor industry. Lip-Bu Tan, a current board member of Intel and the former CEO of chip design company Cadence Design Systems, is in charge of Walden.


According to the article, Walden International collaborated with the Chinese government and state-owned enterprises in China, including a well-known military supplier, to establish a number of funds for the semiconductor industry.


It was one of the original investors and sources of funding for SMIC, which is currently bound by trade restrictions imposed by the United States due to its connections to the Chinese military.


He is recognized for providing SMIC and other businesses with capital, resources, and patents for chip design in addition to lucrative client relationships.


Although SMIC was designated as a “trusted customer” by the US government in 2007, doubts about the company’s operations have increased in Washington in more recent times. The business is now essential to China’s goals of developing a robust semiconductor industry and reducing its reliance on the US.


Tens of millions of dollars were invested in Advanced Micro-Fabrication Equipment, or AMEC, a Chinese business that manufactures the machinery required to fabricate semiconductors, by Walden and Qualcomm Ventures, the chipmaker Qualcomm’s investment arm. After the US imposed limitations on supplying China the most cutting-edge chip-making machinery, AMEC, a supplier to SMIC and other Chinese chipmakers, became essential to China’s efforts to expand its chip-making business.


The government of China provides substantial funding to its semiconductor industries. However, connections with American venture capital firms give Chinese businesses access to technology, the American and European markets, and managerial know-how. Additionally, American venture capital firms have attempted to influence American authorities and regulators in favor of Chinese enterprises that are part of their portfolio.


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New York Community Bancorp: From Crisis Winner to Current Setback




When New York Community Bancorp pounced to seize the majority of the failing Signature Bank’s assets and surged to over $100 billion in assets less than a year ago, it appeared to be among the major winners of a crisis among its peers.


The bank, which has 420 branches, announced a $252 million loss in its most recent quarter, cut its dividend, and set aside a sizable amount of reserves to cover any future losses. These actions came at a cost to the bank on Wednesday. Its stock fell 38% to a 25-year low, causing the average share price of other regional banks to fall by 6%.


Although the bank is now significantly larger than it was prior to the Signature acquisition, New York Community Bancorp attempted to put on a brave front with the news by titling the accompanying statement “Record Results for 2023.” However, analysts and investors swiftly pointed out the bank’s shortcomings.


It was a jarring reminder of the turmoil that occurred in March of last year, when issues at Silicon Valley Bank spread throughout the sector and brought down banks like Signature, which was well-known for lending bitcoin, real estate, and legal services. From federal receivership, New York Community Bancorp purchased a large portion of Signature


While some of New York Community Bancorp’s issues are directly related to its acquisition of Signature, others are the result of its own actions. Executives at the bank announced that, in part due to a deteriorating investment climate for office space, they would need to set aside additional funds to cover losses on loans in the commercial real estate sector. There was “no real property activity happening right now,” according to one executive.


When contacted for comment, the bank remained silent.


During the bank’s routinely scheduled call to assess earnings, analysts grilled the officials, and the questioning became especially pointed. J.P. Morgan’s Steven Alexopoulos questioned why the bank would not provide additional information regarding the impact on its potential future profitability.


Give us the number, please. Alexopoulos enquired. “This is a 25-year low for your stock. I doubt that you’re content with this. “I don’t understand why you wouldn’t use this chance to level-set expectations,” he continued.


Executives often refrained from providing details, attributing their problems to rules requiring banks with assets above $100 billion to maintain a higher level of reserves than smaller lenders, such as New York Community Bancorp. Thomas R. Cangemi, president of the bank, stated, “There’s no question that this was a difficult decision as a firm, but clearly necessary,” in reference to the dividend reduction.


There is a key distinction between the crisis of the previous year and the current one affecting New York Community Bancorp: Deposits at the bank seem to remain steady overall. In the fourth quarter, deposits decreased by 2% to $81.4 billion


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Tech Industry Layoffs 2024 Spotlight on Strategic Cuts



Tech Industry Layoffs 2024 Spotlight on Strategic Cuts

In the fast-paced world of technology, the year 2024 has dawned as a harbinger of change, marked by significant workforce adjustments within the tech industry. This article delves into the intricate details of the situation, exploring the reasons behind the layoffs and the strategic approaches adopted by industry giants.

Tech Industry Layoffs 2024

A Macro Perspective The tech industry, once perceived as recession-resistant, is experiencing a paradigm shift in 2024. The echo of Mark Zuckerberg’s proclamation of 2023 as a “year of efficiency” resonates through the corridors of tech giants like Meta, Amazon, Google, and Microsoft. These behemoths, which collectively employ tens of thousands, have not shied away from making tough decisions to optimize their operations.

Strategic Workforce Reduction

A New Trend The landscape of layoffs in 2024 reflects a departure from the conventional approach. Unlike the widespread job cuts witnessed in the previous year, the current trend is characterized by strategic workforce reductions. The largest firms are making targeted trims, focusing on key products such as artificial intelligence while streamlining operations for improved efficiency.

Categories of Layoffs

Understanding the Nuances Nabeel Hyatt, a general partner at Spark Capital, identifies three distinct categories of layoffs within the tech industry. The first includes big tech oligopolies seeking more growth and profit. The second comprises medium-size companies that over-hired during boom times. The third consists of smaller start-ups fighting for survival, aiming to gain the necessary runway in a highly competitive market.

The Evolution of Layoff Stigma Historically, Silicon Valley viewed layoffs with a certain stigma. However, the narrative is changing in 2024. More tech executives are openly admitting to over-hiring during the pandemic, contributing to a more pragmatic view of layoffs as a necessary corrective measure. The largest companies are making cuts strategically, eliminating roles that are no longer essential to their evolving business models.

Also Read: U.S. GDP Growth Soars, Economy Shows Strength

The Meta Example

Targeted Job Trims Examining Meta’s trajectory provides a microcosm of the broader layoff landscape. In 2023, Mark Zuckerberg initiated layoffs by eliminating “managers managing managers.” In 2024, the company’s approach is more refined, specifically targeting “technical program manager” roles across Instagram. This strategic focus reflects the company’s commitment to operational efficiency.

Amazon, Google, and Microsoft: Similar Strategies, Different Paths Echoing Meta’s approach, other tech giants like Amazon, Google, and Microsoft are adopting similar strategies of smaller, targeted job trims. Amazon recently shed hundreds of jobs in its streaming arm, including Prime Video, MGM Studios, and Twitch. Google made cuts across divisions, with CEO Sundar Pichai hinting at ongoing restructuring for streamlined execution.

Medium-Size Start-Ups: Balancing for IPOs Medium-size start-ups, facing the prospect of initial public offerings (IPOs), are also recalibrating their workforce. These companies are reassessing their finances, realizing the market values profits. Balancing their workforce to achieve profitability becomes paramount, aligning with the market’s expectations and demands.

Also Read: The economy is improving for Americans. Does That Benefit Biden?

Sector-Specific Impact

Video Game Industry Certain sectors are witnessing more pronounced layoffs, such as the video game industry. Unity Software, Riot Games, Eidos-Montréal, and Microsoft’s Activision Blizzard and Xbox have recently downsized. Analysts attribute these cuts to a consolidation of game studios, coupled with a relatively muted slate of game titles expected in the coming year.

The Ripple Effect: Discord’s Efficiency Drive Even popular platforms like Discord, a social networking and group chat app, are not immune to the wave of efficiency. Discord, after increasing its headcount fivefold since 2020, recently cut 17 percent of its staff. CEO Jason Citron acknowledged the need for increased efficiency, stating, “We took on more projects and became less efficient in how we operated.”

The Road Ahead

Consolidation and Reckoning As the dust settles on the initial flurry of layoffs in 2024, the tech industry anticipates a continued wave of consolidation. Start-ups, once buoyed by easy access to venture dollars, now face a reckoning as interest rates rise. Many are cutting staff and narrowing their focus on fewer products, signaling a maturation process in an industry accustomed to rapid expansion.


Tech Industry Layoffs 2024 encapsulate a pivotal moment in the evolution of the technology sector. The strategic workforce reductions by industry giants, coupled with the recalibration of medium-size start-ups and sector-specific impacts, paint a nuanced picture of an industry navigating a new normal. As the tech landscape continues to transform, adaptability and strategic decision-making emerge as key drivers of success in this dynamic environment.

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U.S. GDP Growth Soars, Economy Shows Strength



U.S. GDP Growth Soars, Economy Shows Strength

In a remarkable turn of events, the U.S. economy showcased its resilience and strength by continuing to grow at a healthy pace throughout 2023. The final quarter of the year witnessed a 3.3 percent annual growth in Gross Domestic Product (GDP), as reported by the Commerce Department. While this figure was a slight dip from the 4.9 percent rate in the third quarter, the U.S. GDP Growth forecasters’ expectations, solidifying the recovery from the economic upheaval caused by the pandemic.

U.S. GDP Growth

The standout keyword in our analysis is “U.S. GDP Growth.” The data reveals that for the entire year, from the end of 2022 to the end of 2023, the GDP grew at an impressive rate of 3.1 percent. This marked a significant improvement from the previous year’s growth of less than 1 percent and outpaced the growth in the five years before the pandemic. The strong performance continued into the fourth quarter, emphasizing the economy’s robustness.

Federal Reserve Interest Rates

At the beginning of 2023, economists anticipated that the Federal Reserve’s aggressive campaign of interest-rate increases might reverse the U.S. GDP growth trend. Contrary to expectations, the growth not only persisted but accelerated. The Federal Reserve’s move to increase interest rates was seen as a potential risk, yet the economy not only weathered the storm but thrived. This unexpected turn of events challenges conventional wisdom and prompts a reevaluation of economic forecasting models.

Inflation Trends 2023

Another critical aspect of the economic landscape in 2023 was the cooling of inflation. Consumer prices rose at a modest 1.7 percent annual rate in the final quarter, below the Fed’s long-run target of 2 percent. This reduction in inflation not only brought relief to households affected by two years of rising prices but also provided the Federal Reserve with greater flexibility. With inflation in check, the Fed could potentially cut interest rates to sustain the recovery, making a recession less likely.

Economic Indicators and Recovery

The fourth-quarter data provides compelling evidence that the recovery remains on solid footing. Consumer spending, a cornerstone of the U.S. economy, grew at a 2.8 percent annual rate, only slightly slower than the previous quarter. The housing sector, battered by high interest rates in 2022 and early 2023, showed signs of recovery for the second consecutive quarter. Businesses increased their investment in equipment, and personal income outpaced prices, benefiting workers in the strong job market.

The economy is improving for Americans. Does That Benefit Biden?

President Biden’s Economic Policies

President Biden hailed the latest economic data as proof that his economic policies were effective. He pointed out that wages, wealth, and employment were higher than pre-pandemic levels, providing good news for American families and workers. This endorsement from the nation’s leader adds a political dimension to the economic narrative, emphasizing the interconnectedness of policy decisions and economic outcomes.

Challenges and Potential Risks

Despite the positive indicators, potential risks and challenges loom on the economic horizon. New filings for unemployment benefits rose, signaling potential weaknesses in the job market. Consumer spending, fueled by credit cards and other forms of borrowing, poses a sustainability concern, especially if the job market weakens. High-interest rates and global developments, such as conflicts in the Middle East and economic weaknesses in China, could have domestic consequences, reminding us of the interconnectedness of the global economy.

Also Read: Mastering the Art of Amazon FBA: Building a Sustainable Business

Investor Confidence and Business Growth

Investors, however, seem undeterred by these potential risks, pushing the stock market to record highs. Businesses, too, are displaying increased confidence, stepping up their investment after a year of cautious preparation for a possible downturn. This shift in sentiment aligns with a broader sense of optimism, reinforcing the belief that the fears of an economic downturn are behind us.

Long-Term Sustainability

For many businesses, the frenetic pace of the early reopening period has transitioned into a more sustainable phase. The slightly cooler labor market and the adoption of technologies and business-model changes during the pandemic have led to improved productivity. This improved productivity allows for faster growth with less inflation, creating a scenario reminiscent of the late 1990s when strong productivity growth spurred rising wages across the income spectrum.


In conclusion, the U.S. economy’s performance in 2023, marked by robust GDP growth, challenges preconceived notions and defies expectations. The unexpected acceleration in economic growth, coupled with the cooling of inflation, paints a picture of resilience and adaptability. While challenges persist, the overall sentiment remains optimistic, with businesses and investors expressing confidence in the sustained growth of the U.S. economy. As we navigate the uncertainties of the future, the lessons from 2023 will undoubtedly shape the way economists approach forecasting and policy-making in the years to come.

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The economy is improving for Americans. Does That Benefit Biden?



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President Biden has been plagued by low popularity ratings and extremely low consumer confidence numbers for several months now, which is concerning for the White House as the nation approaches a year with a presidential election. However, new evidence indicates that things are starting to change.

By several indicators, Americans’ confidence in the economy is higher now than it has been in years. Preliminary data suggests that they expect inflation to continue declining and that rates of interest will shortly reduce.

If the renewed optimism lasts, it would help Mr. Biden’s chances of winning reelection and complicate matters for Republican front-runner Donald J. Trump, who has been disparaging the Democratic incumbent’s economic record.

It’s too soon for Democrats to celebrate the most recent economic data and confidence ratings, according to economists, political scientists, and consumer sentiment specialists. Numerous financial hazards yet exist that could impede the seeming advancement. In fact, there’s presently no clear winner come November according to algorithms that attempt to forecast election results based on economic statistics.

Recovering confidence could help Mr. Biden, said Neil Dutta, an economist at Renaissance Macro, especially if consumer sentiment continues to pick up this year as he expects.

If sentiment simply hovered at today’s levels, he said the simple historical relationship between consumer confidence readings and incumbent vote share would give Mr. Biden about 49 percent of the vote. But the job market is strong, gas prices are moderate and the stock market just hit a new record, all of which could drive further improvement

Why does this model forecast such closeness in the race during a period of stable economic growth? Inflation is the main factor. According to Mr. Fair, voters typically have a lengthy memory of price hikes. They consider more than just the most recent inflation figure; they also consider the amount that prices have climbed during a president’s term.

This means that voters are likely to recall 2022 and late 2021, when prices were rising quickly, even though prices have increased over the past six months at what is historically a fairly average pace.

“People look farther back than that; what voters are noticing is that prices have increased since Biden assumed office,” Mr. Fair stated.

Nevertheless, Mr. Trump’s performance in 2016 and 2020 was below expectations based only on the status of the economy, which presented two significant challenges to Mr. Fair’s model. Thus, even with higher costs, it’s feasible that a replay of this drag may help Mr. Biden gain a larger vote share if there is what Mr. Fair referred to as a “negative Trump residual.” (But Mr. Fair cautions on his website that there aren’t enough data points to test that theory.

Regarding how this election’s results will be influenced by consumer confidence and the state of the economy overall, there are also a lot of unknowns. The state of the economy will undoubtedly have an impact, according to University of Iowa political scientist Michael Lewis-Beck.

He remarked, “The economy plays a role that is as fundamental as it gets—it’s like rivers flowing to the sea.”

However, Mr. Lewis-Beck noted that other elements could cloud how closely economic data and election results track one another. These elements include the sense of isolation that has plagued many people since the coronavirus and the fact that Mr. Trump is a former president and may be viewed by voters as a “quasi-incumbent.”

Even still, Americans’ sentiments will probably change as election day approaches later in the year based on the state of the economy throughout the following six months.

This might be detrimental to the White House if the economy slows. For example, the economy may start to suffer after several months of rising Federal Reserve interest rates, or gas costs may rise due to Middle East geopolitics

However, most analysts predict that in 2024 the Fed will start lowering interest rates and that the economy will progressively contract. According to forecasters in a Bloomberg survey, by year’s end, unemployment will increase by roughly 0.5 percentage points, inflation will keep down, and economic growth will decelerate but stay positive.

This rather optimistic perspective could be the reason behind Mr. Biden’s administration’s recent emphasis on the increasing consumer mood statistics, which has historically lagged behind improvements in the actual economy. In a speech on Friday, Mr. Biden mentioned the most recent increase and stated, “We’ve got more to do,” while also highlighting recent advancements in the economy.

All of these things are being observed by people, Mr. Lewis-Beck stated. Mr. Biden “should stay on message, and I think it will eventually get through,” if he hopes to persuade people.

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Mastering the Art of Amazon FBA: Building a Sustainable Business





In 2006, Amazon introduced a clever trade maneuver for supporting small businesses, named Fulfillment by Amazon aka FBA. It is a remarkable service provided by Amazon that automates order fulfillment for third-party sellers – offering cost advantages, global reach, and operational simplification. What’s more, it even proves resilient during terribly tough times, like a global pandemic. In this article, you will learn everything to get you started in the zone and how to become successful selling on Amazon.

Perks of Selling Through Amazon FBA

Before we delve into the how, let’s understand the why. Why should you go for Amazon FBA? The best part of selling this way is how convenient the tech giant makes everything for the seller. They provide you with several benefits, as you will find below:

  • Outstanding Supply Chain Management: Once you dispatch your products to Amazon’s warehouse, forget shipping hassles. FBA completely relieves you from the burden of shipping and packaging, plus offers unlimited space for storage, saving significant costs on warehouse expenses.


  • Speedy Shipment & No-Cost Delivery: Amazon Prime ensures swift, free shipping, enabling orders within days, leading to positive customer reviews and enhanced business prospects on a global scale.


  • Superior Customer Service: Once your business is on Amazon, you’re free from all customer communication duties. Amazon’s 24/7 support ensures a seamless, stress-free customer experience.


  • Enhanced Digital Presence: FBA sellers enjoy an automatic higher visibility in Amazon’s search results. With over 200 million people using Amazon Prime worldwide, you get the aid of an extensive platform for your products. Plus, as your products are listed by price/shipping method, it will give you a competitive edge, especially with the trust associated with Prime. 


  • High scalability: Selling with Amazon offers unlimited scalability for your business, with Amazon’s vast user base offering unprecedented growth potential.
  • Free time for Business Development: As Amazon handles all inventory and logistics, you get to focus purely on sourcing new inventory, market research, and building supplier partnerships for your business growth. 


  • Freedom for sellers: Beginning an online venture like FBA grants you complete autonomy. Here you can select products, customers, and prices freely, enjoying continuous freedom.

How do you become an Amazon FBA Seller?

The steps below will guide you to become an Amazon FBA seller.

Subscribe: Begin by creating a seller account on Amazon and choosing the FBA program between Individual and Professional plans, based on your budget and business goals.

Exploration: Conduct thorough market research to identify products with high demand, high profitability, and low competition. There are online tools available that’ll help you streamline the process.

  • Display your merchandise: Once registered, access your seller central account to select products cautiously for profitability. Amazon FBA Wholesale eliminates the need for adding product details; all essential details like title, description, photos, and reviews are readily available in the listing. All you have to do is look up the ASIN in Amazon’s catalog and set your price and you’re done.
  • Track your inventory: Regularly review your inventory, focusing on high demand and profitability products. Negotiate with suppliers for better discounts.

So How does the Amazon FBA Business Process work?

To build a sustainable business with Amazon that will ensure profits for you in the long term, you need to follow a carefully calculated, systematic process. 

  • For newcomers, the initial step involves establishing the business infrastructure – securing the LLC, reseller’s permit, and EIN. 
  • The next phase is choosing the right products to sell. You must do thorough product research using specialized tools, scrutinizing supplier inventories, and assessing product performance on Amazon. 
  • Once you have the products in mind, you find your suppliers. Remember, you will need to build strong connections with suppliers because as your business matures, these connections will eventually evolve into solid partnerships, ensuring a steady supply of winning products for you. 
  • The final step involves reviewing and selecting the most promising products, purchasing inventory, and efficiently shipping it from suppliers’ warehouses to Amazon’s fulfillment centers. 

The initial 90 days are crucial for establishing your business on Amazon. Optimize productivity during this period to signal to Amazon that your products deserve priority.

Caution! Avoid this at all costs

A very important issue that is causing havoc in the lives of Amazon sellers is the use of outdated techniques like retail arbitrage, even though many fraudulent mentors still recommend it. Retail arbitrage entails purchasing retail items at reduced prices and reselling them on Amazon at higher prices. Now, this practice is not explicitly banned by Amazon, which may be confusing, but their seller performance team outright rejects regular store receipts as proof. Amazon restricts even online arbitrage, like drop-shipping from big stores, and might close your account.

If you’re looking long-term for your Amazon business and wish to make it sustainable, the wholesale model is a much safer alternative. However, if you have to go for retail arbitrage, remember to produce receipts only from manufacturers or distributors. Otherwise, you will have to keep the purchased items in your storage before you repackage and ship them to the customers.


Building a successful Amazon FBA business involves strategic steps, from initial registration to product listing, inventory management, and establishing strong supplier relationships. An experienced and honest mentor makes navigating this journey – emphasizing sustainable practices and steering clear of pitfalls like outdated, dangerous techniques – easier for aspiring sellers. Recognizing the dire need of the sellers, Leon Vartanian, an authority in Amazon FBA, launched Vartanian Capital LLC in 2018, and since then he has guided numerous clients to overcome account suspensions and achieve over $10k in monthly earnings on Amazon FBA. Explore his website for strategies to enhance your eCommerce business through Amazon.

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Bitcoin ETFs Unveiled: Strategies, Risks, and SEC’s Cautionary Stance



Bitcoin ETFs Unveiled Strategies, Risks, and SEC's Cautionary Stance

In the realm of investment opportunities, the landscape can be as diverse as the financial markets themselves. Exchange-traded funds (ETFs) stand out as versatile instruments, ranging from plain vanilla, diversified index funds to more niche and specialized options. This article aims to explore the intriguing world of ETFs, with a particular focus on the recent approval of “Bitcoin ETFs” by the Securities and Exchange Commission (SEC).

Bitcoin ETFs have gained significant attention, heralded as a milestone that legitimizes Bitcoin as an asset class. However, as we delve into the intricacies of these ETFs, it’s crucial to understand the risks associated with them and the broader context of investment strategies.

Bitcoin ETFs: The Game Changer?

The recent SEC approval of 11 new ETFs tracking the price of Bitcoin has sparked enthusiasm among Bitcoin enthusiasts and ETF promoters. The belief is that this approval signifies a pivotal moment, elevating Bitcoin to the status of a mainstream asset class. However, a closer examination reveals that this approval, while a significant development, doesn’t inherently change the nature of Bitcoin as an investment.

The SEC’s decision adds Bitcoin funds to a long list of legal and easily accessible ETFs, but this doesn’t automatically categorize them as suitable for everyone’s core portfolio. It’s reminiscent of other specialized ETFs, such as the Inverse Cramer Tracker, which allows investors to bet against the stock picks of Jim Cramer but has proven to be a money-loser since its inception.

FOMO Investing and Bitcoin: A Risky Affair

The allure of Bitcoin often stems from the fear of missing out (FOMO). Despite being highly speculative and challenging to categorize, Bitcoin continues to attract investors seeking quick gains. The SEC, while approving Bitcoin ETFs, has issued explicit warnings against FOMO investing in digital assets. Lori Schock, director of the SEC’s Office of Investor Education and Advocacy, emphasizes that just because others are investing in such opportunities doesn’t mean it’s a prudent strategy.

The Quirks of Bitcoin and Blockchain Technology

To make sense of Bitcoin, it’s essential to consider its underlying structure. While some experts acknowledge the potential importance of concepts embedded in Bitcoin, such as blockchain technology, opinions on Bitcoin itself remain diverse. Bryan Armour, who directs research into index fund strategies at Morningstar, suggests that Bitcoin is still in the price discovery stage, and its true value is yet to be determined.

Blockchain, the decentralized, peer-to-peer structure, and complex mathematical code behind Bitcoin demand respect. Notably, not believing in Bitcoin ETFs as a good investment doesn’t negate the utility of blockchain as a useful technology.

Also Read: From Gains to Trends: The Landscape of U.S. Job Growth 2023

Navigating the Risks: A Cautionary Tale

For large corporations and institutional investors, the new Bitcoin ETFs might offer a convenient option to gain exposure to Bitcoin. Samara Cohen, CIO of ETF and index investments at BlackRock, sees it as the start of a journey for such investors. However, for individual investors planning for significant life events like retirement or education, caution is advised.

The history of Bitcoin’s volatility is a stark reminder of its risky nature. A study by Madeline Hume at Morningstar indicates that even a 2 percent holding of Bitcoin can significantly increase the risk profile of a conservative stock-bond portfolio. Bitcoin’s price volatility, compared with other assets, is akin to kerosene rather than kindling.

Bitcoin and Portfolio Exposure: Unintended Holdings

Interestingly, even without the new Bitcoin ETFs, many investors may already have exposure to Bitcoin in their portfolios. The majority of these ETFs rely on platforms like Coinbase for essential functions. Coinbase, a publicly traded company, is often held by mutual funds and ETFs managed by industry giants like Vanguard, BlackRock, State Street, and Fidelity.

This unintended exposure extends beyond Coinbase to companies like MicroStrategy and others involved in Bitcoin mining. The social and environmental implications of Bitcoin mining, as highlighted in a 2022 White House report, add another layer of complexity to the Bitcoin investment narrative.

Conclusion: Prudence in the Bitcoin Era

In conclusion, while the approval of Bitcoin ETFs by the SEC may signal a new chapter in the cryptocurrency’s journey, it doesn’t fundamentally change its nature. Bitcoin remains a speculative investment with inherent risks. The comparison to traditional assets like gold is met with skepticism, as Bitcoin lacks historical cachet, widespread use as money, and commercial applications.

For individual investors, particularly those focused on long-term financial goals, a cautious approach is recommended. Bitcoin’s unpredictable trajectory and its potential impact on investment portfolios warrant careful consideration. As major financial services companies embrace Bitcoin ETFs, investors should weigh the allure of potential gains against the backdrop of considerable risks.

In navigating the evolving landscape of Bitcoin ETFs, it’s essential to remain informed, exercise prudence, and recognize that not all that is legal aligns with a sensible investment strategy. Bitcoin, for now, remains a captivating yet uncertain element in the broader tapestry of investment options.

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