What we’re reading (6/15)
“The Good Economic News This Week Was Just That … Good News” (CNN Business). “When economic reports are released that are solid, they have all too often been clouded with concerns that good news for the economy actually means a longer wait before the Federal Reserve rolls out rate cuts. This week, a string of good news was actually good news: Closely watched inflation gauges showed prices had cooled more than anticipated; Americans’ financial outlooks were rosier than they have been in years while their inflation expectations dipped; and, on Friday, US import prices reversed course and fell sharply, adding fuel to the disinflationary fire.”
“Southwest Changed Flying. Now It Can’t Change Fast Enough.” (Wall Street Journal). “Elliott Investment Management, the influential New York hedge fund, says Southwest is stuck in the past. The activist investor says it has amassed a $1.9 billion stake, which amounts to an approximately 11% economic interest in the airline, making it one of Southwest’s biggest shareholders—and its most vocal critics. This past week it demanded Southwest oust its CEO, overhaul the board, and consider shaking up its business model. Southwest became the biggest U.S. airline by domestic passengers by doing things its own way. Trouble is, that’s no longer working so well.”
“The AI Bill That Has Big Tech Panicked” (Vox). “If I build a car that is far more dangerous than other cars, don’t do any safety testing, release it, and it ultimately leads to people getting killed, I will probably be held liable and have to pay damages, if not criminal penalties. If I build a search engine that (unlike Google) has as the first result for ‘how can I commit a mass murder’ detailed instructions on how best to carry out a spree killing, and someone uses my search engine and follows the instructions, I likely won’t be held liable, thanks largely to Section 230 of the Communications Decency Act of 1996. So here’s a question: Is an AI assistant more like a car, where we can expect manufacturers to do safety testing or be liable if they get people killed? Or is it more like a search engine?”
“How Jeff Bezos Is Trying To Fix The Washington Post” (New York Times). “Mr. Bezos, aware of the growing business problems, started paying more attention to his purchase last year. In June, the company announced that Fred Ryan, the chief executive since 2014, would be stepping down and that Patty Stonesifer, a veteran technology executive and a confidante of Mr. Bezos, would temporarily take over.”
“Wells Employees, So Adept At Forging Signatures And Altering Time Stamps Discover Power Automate” (Dealbreaker). “For years, Wells Fargo has been very clear: It does the screwing over of other people/places/things. It does not get screwed over itself! Not by its vendors, and certainly not by its employees. And yet those employees continue to (allegedly) find new ways to screw Wells Fargo over.”
