Will Lewis, the Publisher and CEO of The Washington Post, stepped down from his position days after the outlet laid off nearly one-third of its staff, according to Variety. The news came as markets experienced volatility, with AI company Anthropic's new add-ons to Claude causing shares of software-as-a-service companies like Adobe, Intuit, and Salesforce to decline sharply, as reported by Time. Meanwhile, research suggests that high earners, not a lack of housing supply, are the primary drivers of the housing affordability crisis, Fortune reported.
Lewis's departure was announced shortly after the layoffs at The Washington Post, with current CFO Jeff D'Onofrio taking over his role immediately, Variety noted. Lewis stated in a written statement that "after two years of transformation at The Washington Post, now is the right time for me to step aside."
The market's reaction to Anthropic's advancements was significant. Time reported that a trillion dollars in market cap was wiped out in a week before regaining some ground on Friday. The article also noted that legacy tech giants with large AI businesses like Microsoft, Amazon, and Google were also affected.
In the realm of housing, research challenged the conventional wisdom surrounding affordability. According to Fortune, a study by UC Irvine PhD student Schuyler Louie and San Francisco Fed researchers John Mondragon, Rami Najjar, and Johannes Wieland found a strong correlation between average income growth and house price growth. The research indicated that housing supply growth primarily relates to population growth, suggesting that income disparities are the main factor in housing affordability issues.
In other news, Haitians in America are worried about being Donald Trump's next target, Vox reported. Trump, during his last campaign, falsely accused Haitians of Springfield, Ohio, of eating pets and derided their place of birth.
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