In business, a Gen Zer working two jobs with the aim of retiring in her 30s has shared her experience, while the Fed is expected to hold interest rates steady after a hot jobs report. In tech, Silicon Valley is being overrun by career managers, putting shareholder value over innovation. OpenAI has appointed two new executives, and AI startup Regard has secured a $30 million Series B funding round. Finally, LinkedIn co-founder Reid Hoffman has criticized business leaders who support Trump, and Walmart is benefiting from three major trends.
Key takeaways:
- Apple's big annual event unveiled its plans for generative AI, called Apple Intelligence, which is designed to retrieve and analyze information across multiple apps for a personalized experience.
- Apple Intelligence will only be compatible with the newest and most powerful iPhones, presenting a unique business opportunity for Apple to encourage users to upgrade their devices.
- Elon Musk has threatened to ban Apple devices at his companies if the startup's software was integrated into the tech giant's operating system.
- Point72 has welcomed its largest-ever group for its Academy Investment Analyst Summer Internship, a first step toward potentially becoming a portfolio manager at Steve Cohen's fund.