Millennials are making a massive mistake with their money
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Welcome back to our Sunday edition, a roundup of some of our top stories.
Ford’s CEO took a different route to landing his most recent ride: flying it in from Shanghai . Here’s the lowdown on the Xiaomi Speed Ultra 7 , the car Jim Farley doesn’t want to give up.?
The United States of Automobiles
You are what you drive — and we’ve got the data to prove it. Business Insider combed through 1.7 million listings and analyzed thousands of makes and models to understand what drives America.?
From our political affiliations to aesthetic preferences, our interactive data provides a comprehensive road map of America’s automotive psyche. No other choice we make as consumers conveys more information about how we see ourselves and how we wish to be seen.
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Millennial money mistake
Thanks to the popularity of meme-stocks trading and zero-day options, young investors are often labeled as wild speculators. Data from the Federal Reserve paints a different story. As of June 30, millennials had 19% of their total financial assets in cash, the most of any generation.?
Despite being in their prime investing years, the Great Recession and the COVID-19 pandemic have made millennial investors risk-averse — and that could set them back in the long run.
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The AI Power List
For the second year running, Business Insider released its list of the most powerful people in artificial intelligence and machine learning. The 2024 AI Power List honors people hoping to effect change and solve problems across the industry.
From Google to Groq, and OpenAI to xAI, the nominees are working on challenges and opportunities across AI: Making computing infrastructure more efficient, overcoming energy constraints, and guiding how this technology will change the world.
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Convenient no more
Last week, Walgreens announced it would shutter 1,200 stores over the next three years, the latest casualty of a nationwide “retail apocalypse.”?
A perfect storm of external factors — like the rise of e-commerce and the convoluted way Americans pay for healthcare — helped usher in the corner drugstore’s demise. It’s turning the country into a shopping wasteland.
RIP, OTC .
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More of this week’s top reads:
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This is a shorter version of our flagship newsletter, which brings you in-depth analysis and summaries of the top stories from Wall Street to Silicon Valley.
OK Bo?tjan Dolin?ek
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2 周https://www.dhirubhai.net/posts/siimurgh_plz-plz-tell-your-entrepreneurship-inspirations-activity-7257993038281515009-y4e0?utm_source=share&utm_medium=member_android
Project Management | Strategy | Research | Customer Experience | Sustainability
3 周I think "Cash is king" as it provides the liquidity needed to seize opportunities and navigate financial downturns without relying on debt. Cash reserves enhance stability and flexibility, enabling individuals to respond quickly to unforeseen expenses or market changes. It is crucial in uncertain economic times that makes it a central component of financial resilience and strategic agility.
Business Operations | Project Management | Administrative Coordinating
3 周What money??? I live paycheck to paycheck…
Finance | Systems Integration | Process Modernization
3 周In fact, we’re saving for the houses that we can’t afford since housing has gone from 2x income to 5x. Not wise to invest funds you want to deploy in the next 2-3 years. And always wise to invest in physical assets.