In other news, Tesla is laying off more than 10% of its workforce, healthcare startup valuations are adjusting, and Apple's AI-focused chip could potentially save a rough year for the tech giant. The impact of people moving away from big cities during the pandemic is becoming apparent, with potential negative effects on careers. The office apocalypse fallout is starting to hit as federal funds dry up and remote work affects revenue. Finally, Iran's attack on Israel could negatively affect Russia's arms supplies and boost China's influence in the Middle East.
Key takeaways:
- The US presidential election surpassed the AI race in the business, tech, and innovation bracket.
- JP Morgan CEO Jamie Dimon warned of persistent inflationary pressures and the unknown effects of quantitative tightening on a large scale.
- Tesla is laying off more than 10% of its workforce, according to an internal memo from CEO Elon Musk.
- Iran's attack on Israel could potentially hamper Russian arms supplies and boost China's influence in the Middle East.