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‘A moral dilemma’: Tech startups wrestled with taking coronavirus bailout loans

May 5th, 2020 at 11:29 am » Comments Off

Some startup founders hesitated to apply for the SBA’s PPP loans because they feared Main Street businesses may need them more. Now, the pot of money has run out. In the past few weeks, Silicon Valley startups have grappled with a confusing, ethical quandary: whether to take money from the government to weather the economic […]

Start-ups pursue ‘free money’ with relief funds, prompting backlash

April 27th, 2020 at 12:18 pm » Comments Off

Domio, a startup that offers short-term rentals, has its headquarters in a New York City loft that features beer on tap, a game room and a wall of house slippers for visitors. The fast-growing and unprofitable company has raised $117 million in venture capital, including $100 million in August. When the coronavirus pandemic caused Domio’s […]

Chime is piloting instant stimulus check disbursals

April 25th, 2020 at 12:46 pm » Comments Off

US neobank Chime is running a pilot in which it gives customers their $1,200 federal stimulus checks before the government begins disbursing the payments, CNBC reports. The neobank selected 1,000 customers who received their payments instantly on Thursday through Chime’s SpotMe feature, which usually acts as an overdraft protection feature, allowing customers to go negative […]

Indiana man checked his bank account for his $1,700 stimulus check and found $8 million had been deposited by the feds

April 16th, 2020 at 5:20 pm » Comments Off

A man from Indiana ended up receiving what appeared to be a lottery win rather than a stimulus check. Charles Calvin, a volunteer firefighter was expecting a payment for $1,700. Upon checking his bank account he found there was a payment for $8 million. Each time he checked the ATM machine he was given the […]

Bitcoin exchanges see massive surge in new users this month

April 14th, 2020 at 11:56 am » Comments Off

Stuck in the coronavirus lockdown, people have flocked to exchanges to start trading Bitcoin. But trading volumes tell a different story. In brief: Five exchanges reported an uptick in new users. Kraken saw an 83% increase in users, while Paxful doubled its signup rate. On the other hand, Bitcoin is moving away from exchanges. Many […]

How economists calculate the costs and benefits of COVID-19 lockdowns

April 5th, 2020 at 11:33 am » Comments Off

Value of Saving One Statistical Life, by Age There is a huge public debate whether the economic costs of actions designed to arrest the spread of COVID-19 are worth the potential health benefits achieved. Literally trillions of dollars in lost economic output and uncounted lives hang in the balance. No rational discussion of this weighty […]

What should the government spend to save a life?

March 28th, 2020 at 10:00 am » Comments Off

Economists have a way of measuring the cost of protecting people from COVID-19. Economists have done the math. The staggering economic toll of the new coronavirus is becoming abundantly, unavoidably clear. On Thursday, a Department of Labor report showed that a record-shattering 3.3 million people applied for initial unemployment claims last week. And with entire […]

For the first time, Uber drivers and other gig workers qualify for unemployment insurance as part of the Senate’s $2 trillion coronavirus stimulus bill

March 27th, 2020 at 12:16 pm » Comments Off

A protester outside Uber’s office in Massachusetts. The Senate’s $2 trillion coronavirus economic bailout bill includes help for gig-economy workers, like Uber and Lyft drivers, who have seen their livelihood dissolve during the coronavirus crisis. For the first time, these workers would qualify for unemployment insurance. They would also qualify for the additional four months […]

The finance robots are coming: 73% of organizations plan to replace humans with machines this year

March 19th, 2020 at 10:08 am » Comments Off

Even finance is being affected by the onslaught of human vs. machine with a recent Deloitte survey revealing some startling stats. The finance function is experiencing rapid change, and a recent Deloitte survey found that 73% percent of respondents are planning to implement technology to replace humans in their workforce this year—up from 58% a […]

French court recognises Bitcoin as “money”

March 12th, 2020 at 11:42 am » Comments Off

The ruling, the result of a dispute between Bitcoin marketplace Paymium and crypto investment firm BitSpread, could benefit the French crypto market. A French court has ruled that Bitcoin is money, for the first time. The result of the ruling could lead to more action in the French Bitcoin market. It’s the first time a […]

Bitcoin’s guardian angel : Inside Coinable billionaire Brian Armstrong’s plan to make crypto safe for all

March 8th, 2020 at 10:03 am » Comments Off

Near the foot of San Francisco’s California Street stand the august stone pillars of a bank dating to the 19th century. A few paces away sit the offices of Coinbase, the largest American exchange for cryptocurrencies like bitcoin. It’s a beehive of software engineers and young marketing executives. There, the worlds of by-the-books banking and […]

Why aren’t more highly intelligent people rich?

February 20th, 2020 at 1:02 pm » Comments Off

 A Nobel Prize-Winning Economist Says Another Factor Matters a Lot More Intelligence is important, but intelligence without effort is sometimes wasted. Nobel Prize-winning economist James Heckman likes to ask people how great a role innate intelligence plays in financial success. Like how much the difference between my income and yours, for example, is based on […]

are certificates more valuable than college degrees?