CAPITALISTS
YouTuber JerryRigEverything couldn’t justify spending $20,000 on an off-road wheelchair, so he welded two e-bikes together to build one for his paralyzed girlfriend. Now, his company sells $999 wheelchair
Zack Nelson's journey from losing his job at a cell phone store to launching his YouTube channel, JerryRigEverything, has been inspiring. Motivated by his wife Cambry, he created NotaWheelchair, producing innovative off-road wheelchairs like The Rig and the Paradox Project, focusing on affordability. His mission is to revolutionize mobility solutions while achieving financial sustainability by late 2026, prioritizing the needs of individuals with disabilities over profits.
AI stocks: Are the days of easy money over? Aswath Damodaran warns investors of a new market reality ahead of Anthropic IPO
NYU professor Aswath Damodaran warns that broad-based gains from AI stocks may be fading as investors become more selective. He highlights diverging business models, rising infrastructure costs, uncertain monetisation and valuation risks, urging greater investment discipline.
AI training startup Mercor valued at $20 billion in latest funding round
Mercor said on Tuesday it had raised $750 million in a funding round that valued the AI training startup at $20 billion. The Series D round drew participation from Benchmark, Felicis, Fundomo, Nvidia and funds managed by affiliates of Apollo, among others.
India fallen way down list of nations deemed liberal democracies under Modi govt: Sonia
Sonia Gandhi, in her memoir, critiques the Modi government's impact on India's democratic institutions and social fabric. She highlights the growing wealth disparity and lack of transparency in governance under the current regime. Gandhi expresses concern over the media's loss of independence and the suppression of dissenting voices in society.
Anthropic wants to create new billionaires through its IPO, but American voters are growing tired of Big Tech's wealth explosion
Anthropic is preparing for a significant IPO amid growing public resistance to AI-related infrastructure projects. Investors are discussing a valuation between $1 trillion and $1.5 trillion for the Nasdaq listing. Communities express concerns over environmental impacts and rising electricity costs linked to data centres. Public sentiment is shifting against technology companies, raising questions about economic benefits versus local costs.
Lal Salaam, but from a safe distance
In a remarkable turn of events, Nithya Raman and Zohran Mamdani have been elected mayors of New York City and Los Angeles, showcasing the rise of Indian politicians in the American political landscape. Their journeys prompt reflection on the opportunities they might have encountered had they pursued careers in India.
L&T Finance Pitch Point 2.0: Where an AI startup’s big idea meets enterprise scale
Pitch Point, L&T Finance’s contest for AI startups, is back for a second edition. Last year’s winners, Arrowhead AI and SpoofSense, talk about what they got out of it and what they would tell this year’s new applicants.
California could become the first state to tax billionaires' wealth
The state of California is deliberating on a proposed one-off 5% tax on the net worth of billionaires via Proposition 40. The initiative encounters significant pushback from wealthy opponents and considerable financial resources aimed at defeating it. Governor Gavin Newsom warns that it might trigger a tax flight among the richest residents.
US Midterms 2026: Cost of living and government corruption are top issues, AP Voter Poll says
Voters are participating in Election Day to influence control of the U.S. House and Senate. Many electorate members express dissatisfaction with the current economic situation attributed to Trump's policies. Polls indicate a significant desire for checks and balances on the presidency from Congress. Various gubernatorial candidates, along with major ballot measures, also shape the election landscape. Early voting statistics show heightened engagement compared to previous elections and reflect voter concerns.
X factor in Musk cocktail: AI synergies are real, but the proposed SpaceX-Tesla merger has red flags for shareholders
Elon Musk is exploring a potential merger between Tesla and SpaceX amidst rising valuations and technological collaboration. Both companies aim to enhance their capabilities in AI and related technologies while managing significant capital expenditures. However, the merger raises concerns about shareholder control and scrutiny over company operations. Additionally, the merger could face political scrutiny from both Beijing and Washington due to data privacy issues.
‘Facing ‘gerontonomia’, the West’s young opt for political extremes’
Tim Vlandas analyzes the influence of aging populations on electoral politics in advanced capitalist nations like Europe. Older voters display different policy preferences, emphasizing pensions over issues of younger demographics. Consequently, governments often allocate more resources to pension spending rather than investing in education and infrastructure. Young voters may become politically disenchanted, leading to radical shifts towards extreme parties.
Michigan Senate race a test of attacks on Muslim candidate, progressive agenda
Michigan’s open Senate race between Republican Mike Rogers and Democrat Abdul El-Sayed has become a test of both party control and political identity, with El-Sayed seeking to become the first Muslim US senator. The campaign has been marked by Republican attacks linking him to Islamist extremism, which he denies, while El-Sayed has focused on affordability and progressive economic policies in a closely contested battleground state.
SC pulls up Centre over soaring medicine costs
The Supreme Court expressed concern over the government's role in allowing steep medicine prices to persist. Justices Vikram Nath and Sandeep Mehta questioned the justification for significant price discrepancies faced by patients. The court highlighted a lack of accountability regarding how drug manufacturers benefit from inflated prices. Government representatives stated that regulatory measures should not encompass the entire drug pricing ecosystem.
How Databricks’ $2.2 billion Tabular deal helped Tim Chen’s Essence VC nearly return its entire fund
Tim Chen wasn’t planning to raise a new venture capital fund when investors began approaching him. His investment in Tabular, acquired by Databricks in 2024, helped put Essence VC on the map. The interest eventually helped Chen close a $41 million fourth fund, even before he had prepared a pitch deck.
US midterms: Two Indian-origin face-offs to watch, and why they matter
US Midterm election 2026: Two US House races in the 2026 midterms feature Indian-origin candidates competing against each other, with Ro Khanna facing Republican Ritesh Tandon in California and Pramila Jayapal taking on Republican Nirav Sheth in Washington. Neither seat is considered a major battleground, but the contests highlight the growing political diversity of Indian Americans and contrasting positions on immigration, taxes, technology, affordability and the role of government.
AI bubble to burst soon? Artificial Intelligence meltdown in China but Anthropic IPO at US Stock Market tell interesting stories of AI boom
Amid the billions — even trillions — at stake, worries about an AI boom are looming in the background along with concerns about keeping the technology under human control.
Tech reporter’s remarks on Indian VCs set off debate on India’s deeptech startup scene
The discourse surrounding Ashlee Vance's comments on Indian VC risk aversion has generated a flurry of insights online. Vance suggested that Indian venture capitalists often overlook startups with immense potential, such as Ather, valued at nearly $7 billion. Anu Hariharan’s analysis pointed to operational issues deterring investors from engaging in India's startup scene.
Unilever's Ruby Lu resigns from Board effective October 24
Ruby Lu has announced her resignation from Unilever's Board, effective October 24, 2026. She joined the company as a Non-Executive Director in November 2021, contributing to various committees. Her resignation comes after five years of service and involvement with the Audit and Corporate Responsibility Committees. Ian Meakins, Unilever's Chair, expressed gratitude for her contributions during her tenure.
Unacademy cofounder Gaurav Munjal pushes back against criticism of Indian VCs
Munjal cited companies such as Astrotalk, Airbound and Sarvam AI as examples of startups that have been able to raise capital and grow quickly. He also pointed to the success of companies such as Groww, Eternal and Meesho.
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