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- $14 billion hire
$14 billion hire
Meta just spent $14 billion hiring a college dropout.
Meta spends big.
The army marches.
AI is human?
Markets
PAST WEEK | YEAR-SO-FAR | |
|---|---|---|
Nasdaq | -0.7% | +0.7% |
S&P500 | -0.3% | +1.9% |
MSCI Emerging Markets | -0.1% | +12.9% |
Bitcoin* | -0.4% | +12.7% |
Ethereum* | +1.3% | -23.8% |
Stock of the week: | +23.5% | +51.5% |
Crypto of the week: | +35.4% | +9,290.4% |
*Source: CoinGecko.com As of 7:41PM June 15, 2025
World news
Top news stories of the past week
1) Meta buys AI co. & CEO: Meta, AKA Facebook, just bought Scale AI. Scale AI provides labeled data to help companies build and improve artificial intelligence models. The acquisition also means their 28-year-old CEO is joining Meta to support their AI efforts. Crazy stat - this $14 billion acquisition is Meta’s second largest after their purchase of Whatsapp ($19 billion).
Scale AI’s 28-year-old CEO and Founder, Alexandr Wang
2) Trump throws a parade: Washington, D.C. prepared for its first military parade in over three decades, marking the U.S. Army’s 250th anniversary. The event was scheduled to go on despite thunderstorms and anti-Trump demonstrations, and included thousands of soldiers, tanks, parachute jumpers, rocket launchers, and vintage warplanes. The cost of the parade is estimated at $40 million. I wonder what DOGE has to say about this…then again, it was sponsored by the UFC (actually).
3) Air India tragedy: An Air India Boeing 787-8 Dreamliner crashed shortly after takeoff on Thursday, claiming at least 270 lives. India’s government is urgently inspecting all Boeing 787s and are looking at all possible theories as to what led to the crash. Against all odds, the lone survivor of the crash, seated in emergency exit row 11A, walked away from the accident and is now recovering in hospital.
Top WEIRD stories of the past week
1) The TSA has issued a reminder that Costco cards are not a valid form of ID at airport security checkpoints. This is news to me.
2) The AI company Builder.ai has filed for bankruptcy, after being exposed for passing off the output of human workers as being AI generated. So now humans are stealing robot jobs? How the tables have turned.
3) A truck carrying 14 million bees was overturned at the US-Canada border. So THAT’S where all the bees went.
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Chart
You like charts? Graphs? Ya you do
Emerging Asia is expected to account for 60% of global economic growth in 2025, up from 56% in 2024, solidifying its role as the world’s economic engine.
History
On this day…
…in 1779, Spain declared war on Great Britain, starting the Great Siege of Gibraltar. This three-year, seven-month siege was the longest endured by the British Armed Forces, and one of the longest in history. I would be so sleepy by the end.
Money line on the Brits (I don’t gamble and have no clue what that means).
Music
Banger of the week
Most important thing
Meme? Nah. Art.
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