A mounting body of research is making it harder for companies to justify what most of them still do -- push experienced workers out the door just as they're hitting their professional peak. A 2025 study published in the journal Intelligence analyzed 16 cognitive, emotional and personality dimensions and found that while processing speed declines after early adulthood, other capabilities -- including the ability to avoid distractions and accumulated knowledge -- continue to improve, putting peak overall functioning between ages 55 and 60. AARP and OECD data back this up at the firm level: a 10-percentage-point increase in workers above 50 correlates with roughly 1.1% higher productivity. A 2022 Boston Consulting Group study found cross-generational teams outperform homogeneous ones. UK retailer B&Q staffed a store largely with older workers in 1989 and saw profits rise 18%. BMW implemented 70 ergonomic changes at a German plant in 2007 and recorded a 7% productivity gain. Yet an Urban Institute analysis of U.S. data from 1992 to 2016 found more than half of workers above 50 were pushed out of long-held jobs before they chose to retire.

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Image:国税庁ますます紙の書類派には厳しい時代ですが…。いよいよ今年も確定申告のシーズンです。もう以前からe-Taxの電子申告を利用してきたという人には無縁のことかもしれませんけど、どうやら紙の確定申告が大きな節目を迎えようとしているみたいです。紙の申告書類がもらえない？e-Taxでの電子申告をしていない人にとって一般的なのは、書面で申告書を提出するため、まず確定申告用紙を入手するというステッ

Image:Rentahuman.aiAIが人間を雇う時代が来た？イーロン・マスクは「この先AIが高い生産性と効率を持ち、人間は『ユニバーサル・ハイ・インカム（雇用に関係なく得られる収入）』を得られるようになるため、貯蓄なんてする理由はない」と語っています。でも最近、「人間がAIエージェントに雇われる」というウェブサイトが公開されました。AIがもっとパワーを持つ未来では、こっちのほうが現実になるか

JASM（TSMCが過半数を出資）の工場入口にあった看板Photo:かみやまたくみ2024年4月4日に公開された記事を再掲しております。ご存知ですか？熊本県の菊陽町（きくようまち）。世界的な半導体メーカーTSMC（TaiwanSemiconductorManufacturingCompanyLimited）の工場が来た町です。TSMCといえばApple（アップル）のiPhoneのチップを作っている

An anonymous reader shares a report: Republicans' tax cuts shaved billions off Amazon's tax bill, new government filings show. The company says it ran a $1.2 billion tax bill last year, down from $9 billion the previous year, and even as its profits jumped by 45% to nearly $90 billion. That's largely because of the generous new depreciation breaks GOP lawmakers included in their One Big Beautiful Bill, something that's particularly important to Amazon which -- in addition to maintaining a vast infrastructure for its ubiquitous delivery business -- has been spending billions to build out artificial intelligence data centers. Also helping, though less important: The law's expanded breaks for businesses research and development expenses. The company has long been criticized by Democrats for paying little in tax, and it appeared to be bracing for criticism in the wake of the report to the Securities and Exchange Commission.

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Kalshi, the largest U.S. prediction market, accused a small data startup called Juice Reel of "extortion" after a stock analyst used the company's transaction-level data to argue that prediction market users lose money faster than gamblers on traditional betting apps -- then walked the allegation back hours later. The equity research analyst Jordan Bender at Citizens found that the bottom quarter of prediction market users lost about 28 cents of every dollar wagered in their first three months, compared to roughly 11 cents per dollar on sites like FanDuel and DraftKings. Kalshi's head of communications told Bloomberg the report was "flat-out wrong" and called the data an extortion attempt. Juice Reel CEO Ricky Gold said Kalshi had actually pressured him to tell Bloomberg the data was inaccurate. Kalshi later issued an updated statement saying it continued to dispute the findings but "after further review, we don't believe the intention was extortion." The company did not provide any data to counter the analysis.

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Pinterest has sacked two engineers for tracking which workers lost their jobs in a recent round of layoffs. BBC: The company recently announced job cuts, with chief executive Bill Ready stating in an email he was "doubling down on an AI-forward approach," according to an employee who posted some of the memo on LinkedIn. Pinterest told investors the move would impact about 15% of the workforce, or roughly 700 roles, without saying which teams or workers were affected. But then "two engineers wrote custom scripts improperly accessing confidential company information to identify the locations and names of all dismissed employees and then shared it more broadly," a company spokesperson told the BBC. "This was a clear violation of Pinterest policy and of their former colleagues' privacy," the spokesperson added. The script written by the Pinterest engineers was aimed at internal tools used at the company for employees to communicate, according to a person familiar with the firings who asked not to be identified. The person said the script created an alert for which employee names within a tool like the team communication platform Slack were being removed or deactivated, giving some insight into who at the company was impacted by the layoffs.

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Walmart's market cap surpassed $1 trillion on Tuesday, putting the largest U.S. retail chain in an exclusive club dominated by tech groups. Bloomberg adds: The Bentonville, Arkansas-based chain -- a longtime favorite of bargain-hunting consumers -- has flexed its massive scale and supplier network to keep prices low and grab market share across the income spectrum. While Walmart has maintained its appeal to households looking for value, its online offerings are drawing new, wealthier shoppers seeking convenience.

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An anonymous reader shares a report: By now, the Forbes 30 Under 30 list has become more than a little notorious for the amount of entrants who go on to be charged with fraud.[...] Gokce Guven, a 26-year-old Turkish national and the founder and CEO of fintech startup Kalder, was charged last week with alleged securities fraud, wire fraud, visa fraud, and aggravated identity theft. The New York-based fintech startup -- which uses the "Turn Your Rewards into [a] Revenue Engine" tagline -- says it can help companies create and monetize individual rewards programs. The company was founded in 2022, and offers participating firms the opportunity to earn ongoing revenue streams via partner affiliate sales, Axios previously reported. Guven was featured in last year's Forbes 30 Under 30 list. The magazine notes in the writeup that Guven's clients included major chocolatier Godiva and the International Air Transport Association, the trade organization that represents a majority of the world's airlines. Kalder also claims to have enjoyed the backing of a number of prominent VC firms. The U.S. Department of Justice alleges that, during Kalder's seed round in April of 2024, Guven managed to raise $7 million from more than a dozen investors after presenting a pitch deck that was rife with false information. According to the government, Kalder's pitch deck claimed that there were 26 brands "using Kalder" and another 53 brands in "live freemium." However, officials say that, in reality, Kalder had, in many cases, only been offering heavily discounted pilot programs to many of those companies. Other brands "had no agreement with Kalder whatsoever -- not even for free services," officials said in a press release announcing the indictment. The pitch deck also "falsely reported that Kalder's recurring revenue had steadily grown month over month since February 2023 and that by March 2024, Kalder had reached $1.2 million in annual recurring revenue." The government also accuses Guven of having kept two separate sets of financial books.

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Elon Musk's SpaceX has acquired his AI startup xAI in an all-stock deal that values the combined entity at $1.25 trillion, ahead of what would be the largest initial public offering in history. SpaceX pegged its own valuation at $1 trillion -- a markup from the $800 billion it commanded in a December secondary stock sale -- and priced xAI at $250 billion based on a recent $20 billion funding round that valued the two-year-old AI company at $230 billion. SpaceX CFO Bret Johnsen told investors on a call Monday that shares in the combined company would be priced at $527 and that xAI shares would convert into SpaceX stock at a roughly seven-to-one exchange rate. The company is still targeting a June IPO expected to raise as much as $50 billion, surpassing Saudi Aramco's $29 billion listing in 2019. Musk said the least expensive way to do AI computation within two to three years will be in space. "Global electricity demand for AI simply cannot be met with terrestrial solutions, even in the near term, without imposing hardship on communities and the environment," he wrote. SpaceX filed last Friday for permission to launch up to a million satellites into Earth's orbit. xAI merged with Musk's social media platform X last March in a $113 billion deal, and Tesla announced a $2 billion investment in xAI last week.

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The owners of Leica Camera AG -- Austrian billionaire Andreas Kaufmann and private equity giant Blackstone -- are considering a sale of a controlling stake in the German camera maker in a deal that could value the company at about $1.2 billion, Bloomberg reported, citing people familiar with the matter. HSG, formerly known as Sequoia Capital China, and Altor Equity Partners are among a handful of bidders. The Kaufmann family could re-invest following a transaction. Leica traces its roots roughly 150 years to Ernst Leitz's microscope company and was publicly traded on the Frankfurt stock exchange until the Kaufmann family took it private in 2012.

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A new study [PDF] examining the United States between 1850 and 1920 found that expanded market access -- driven largely by railroad expansion -- made Americans more trusting of strangers and more outward-looking, but weakened family-based care for the vulnerable. Researchers Max Posch of the University of Exeter and Itzchak Tzachi Raz of Hebrew University compared places and people gaining different levels of commercial connectivity. In better-connected regions, Americans became more likely to marry outside their local communities, and parents more likely to pick nationally common names for children. Trust toward others rose, as measured through language in local newspapers. The researchers used multiple tests to rule out the possibility that these shifts simply reflected places getting richer. The cultural changes were concentrated among migrants in trade-exposed industries; workers in construction and entertainment showed no effect. But market access also meant orphans, the disabled, and the elderly became less likely to be cared for by relatives at home.

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Apple's call-screening feature, introduced in iOS 26 last year, was designed to combat the more than 2 billion robocalls placed to Americans every month, but as WSJ is reporting, it is now creating friction for the rich and powerful who find themselves subjected to automated interrogation when dialing from unrecognized numbers. The feature uses an automated voice to ask unknown callers for their names and reasons for calling, transcribes the responses, and lets recipients decide whether to answer -- essentially giving everyone a pocket-sized executive assistant. Venture capitalist Bradley Tusk said his first reaction when encountering call screening is irritation, though he understands the necessity given the spam problem. Ben Schaechter, who runs cloud-cost management company Vantage, said the feature "dramatically changed my life" after his personal number ended up in founding paperwork and attracted endless sales calls.

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The private equity industry is experiencing a quiet reckoning as hundreds of midsize firms find themselves trapped between investors who have lost patience and portfolios of companies they cannot sell at acceptable prices. "There is existential risk for a number [of funds] because of the fundraising environment," said Sunaina Sinha Haldea, global head of private capital advisory at Raymond James. "If existing investors don't come and support them, new investors are highly unlikely to." According to data from Preqin, the average buyout fund that closed in 2025 spent 23 months fundraising, up from 16 months in 2021, and the total number of funds raised fell to 1,191 from 2,679 over the same period. New York's Vestar Capital scrapped plans for its eighth fund in late 2024 and has not invested in a new portfolio company since 2023. The firm's assets under management dropped from $7 billion fifteen years ago to $3.3 billion in 2024. Three-year annualized returns through June 2025 for the Cambridge Associates U.S. Private Equity Index stand at 7.4%, trailing the MSCI World stock index by 11 percentage points annually. The average holding period for buyout deals has stretched to 6.3 years from 5.1 years in 2020. Blue-chip megafunds continue raising capital normally, but smaller firms face existential pressure.

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An anonymous reader quotes a report from Bloomberg: Investors are souring on the bonds of software companies that service industries ranging from automotive to finance as fast-paced artificial intelligence innovations threaten to upend their business models. [...] Bond prices tumbled as advances in artificial intelligence rack up. Google announced plans to launch an AI assistant to browse for internet surfers Wednesday while a customer support startup, Decagon AI Inc., raised a new round of funding. Such developments are further stoking the angst about AI displacing enterprise software companies, driving a selloff in the sector's stocks and bonds across the globe. [...] Some say the AI fears weighing on software companies are overdone. "While point-solution software faces disruption risk, large company platforms with complex workflows and proprietary data are better positioned to benefit from AI-driven automation," wrote Union Bancaire Prive in its investment outlook for 2026 released this week. But a recent report by EY-Parthenon flagged that in the UK last year, software and computer services firms issued the highest number of warnings on earnings among listed firms. "Software multiples have compressed amid uncertainty around whether incumbents can defend pricing power and sustain growth in an AI-first work-flow environment," wrote Bruce Richards, chief executive officer and chairman of Marathon Asset Management, in a LinkedIn post last week.

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The housing shortages plaguing Western cities today stem partly from the abandonment of a 19th century urban governance model that enabled cities like Berlin, New York and Chicago to expand rapidly while keeping real house prices flat and homes increasingly affordable. A new analysis by Works in Progress argues that Victorian-era urban management wasn't laissez-faire but rather a system carefully designed to align private profit with public benefit. Infrastructure monopolies -- whether privately franchised, operated as concessions or municipally owned -- funded themselves entirely through user fees rather than public subsidies, and were structured so that building more capacity was the path to greater returns. Landowners enjoyed a fundamental right to build when profitable, and height limits applied uniformly across entire cities rather than varying by neighborhood, meaning dense development remained legal everywhere. The system began collapsing after 1914, however. Inflation proved fatal to self-funding transport because governments found it politically impossible to raise controlled prices year after year. By the 1960s, trams had vanished from Britain, France and the U.S. Meanwhile, differential zoning gradually banned densification in established neighborhoods, and rent controls decimated private homebuilding in many countries. In Britain, average house prices fell from twelve times earnings in 1850 to four times by 1914. They have since climbed back to nine times earnings. The article argues roughly 80% of postwar price increases trace directly to restrictions on building.

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When asked directly whether people actually like Experian, Alex Lintner, the credit bureau's CEO of Software and Technology, offered an unusual defense in an interview: "First of all, we're not Palantir, so we don't do reputation scores." Speaking on The Verge's podcast, Lintner conceded that consumers who have poor credit scores through "life's circumstances" sometimes direct their frustration at Experian, though he argued the company enables vital access to credit for 247 million Americans. The 10-year company veteran said Experian has built its own large language model and about 200 AI agents for internal use, but consumer data remains entirely walled off from public AI systems. On security, Lintner said Experian hasn't experienced a data breach in a decade -- the last occurred two weeks into his tenure. When competitor Equifax suffered its massive breach, Equifax actually paid Experian to help protect affected consumers' identities.

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UPS said today it plans to eliminate an additional 30,000 operational jobs this year as the shipping giant continues to wind down its partnership with Amazon -- previously its largest customer -- and push forward a broader turnaround strategy under CEO Carol Tome. CFO Brian Dykes said on an earnings call that the cuts will be accomplished through attrition and a voluntary separation program for full-time drivers. The company also plans to further deploy automation across its network. UPS has identified 24 buildings for closure in the first half of 2026 and expects to reduce operational hours by approximately 25 million as the Amazon relationship unwinds. Last year, UPS eliminated 48,000 jobs -- 34,000 operational and 14,000 management -- and closed 93 buildings. The company expects $3 billion in total savings from the Amazon unwind.

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Amazon announced on Wednesday that it is eliminating approximately 16,000 roles across the company as part of organizational changes that began in October 2025 and are only now being finalized by certain teams. Senior Vice President Beth Galetti shared the news in a memo to employees, framing the reductions as an effort to reduce layers, increase ownership, and remove bureaucracy. The memo follows another memo that the company accidentally sent to employees.

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Amazon appears to have prematurely acknowledged layoffs inside AWS after an internal email referencing "organizational changes" and "impacted colleagues" was mistakenly sent to cloud employees. CNBC reports: "Changes like this are hard on everyone," Colleen Aubrey, senior vice president of applied AI solutions at Amazon Web Services, wrote in an email viewed by CNBC. "These decisions are difficult and are made thoughtfully as we position our organization and AWS for future success." The note also references a post from Amazon's HR boss Beth Galetti and said the company notified "impacted colleagues in our organization." The subject of the email mentions "Project Dawn," and the email says it was "canceled," possibly indicating it was recalled by the sender after the fact. It's unclear what Project Dawn refers to. The job cuts come after Amazon announced in October that it would lay off 14,000 corporate employees. At the time, the company indicated the cuts would continue in 2026 as it found "additional places we can remove layers." Amazon CEO Andy Jassy said the layoffs were meant to reduce management layers and bureaucracy inside the company. He also predicted last June that efficiency gains from AI would shrink Amazon's corporate staff in the coming years.

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