LeaderShares Equity Skew ETF (ARCA: SQEW)

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The Fund is an actively managed exchange traded fund (ETF) that normally invests at least 80% of its net assets, including any borrowings for investment purposes, in equity securities. The Fund defines equity securities to include investments in other investment companies, such as ETFs, that invest primarily in equity securities. The Fund employs a contrarian strategy seeking to buy underperforming asset classes and/or factors and sell outperforming asset classes and/or factors based on quantitative research. The primary equity style exposure and factors are large cap growth, large cap value, small cap growth, small cap value, and emerging market equities. The weightings to these equity style exposures represented by equity securities, are determined using proprietary quantitative methodologies that include statistical skew. Skew or skewness measures the asymmetry of a return distribution between different constituents in a group. Measuring the skewness allows the Adviser to take five groups of stocks (Large Cap Growth, Large Cap Value, Small Cap Growth, Small Cap Value and Emerging Markets) and determine the relative weightings of each of these five groups based on how recent returns of such group fits into its historical distribution of returns. This measure of skewness generally leads to security groups that have recently outperformed to have reduced exposure and security groups that have recently underperformed to have increased exposure at each re-balance. The Fund will invest in equity securities with a market capitalization of at least $1 billion.

Spdr S&P 600 Sma

Spdr Portfolio S&p 500 Value ETF

Spdr S&p 600 Small Cap Growth ETF

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Vanguard Ftse Emerging Markets ETF

Ishares Russell 2000 Index ETF

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Ishares S&p Small-cap 600 Value ETF

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Ishares S&P Small-Cap 600

LeaderShares Equity Skew ETF

A millennial woman on <a href="https://www.reddit.com/r/Millennials/comments/1lpfh5b/be_honest_how_many_of_you_still_get_help_from/">Reddit</a> recently asked a simple question: &#8220;Be honest — how many of you still get help from your parents/family?&#8221;
Her husband is firmly against it, insisting they don&#8217;t accept any financial support from relatives. But she's surrounded by friends who've gotten major help with everything from student loan payments to <a href="https://www.benzinga.com/personal-finance/25/02/43741282/dave-ramsey-says-parents-shouldnt-buy-their-teenagers-cars-it-creates-ridiculous-expectations-for-life">free cars</a> and child care.
<h2 class="wp-block-heading">Millennials Sound Off</h2>
The post sparked a flood of deeply personal replies. While a few agreed with her husband's stance, the overwhelming theme was that help from family is either a lifesaver or a painful, complicated mess.
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&#8220;Quite the opposite. I have supported them,&#8221; one person wrote, summarizing what many others echoed. A number of millennials said they've taken on financial responsibility for their parents or other relatives, sometimes at great personal cost.
One commenter said, &#8220;I&#8217;ve ended up drowning in debt because of my parents. And then they&#8217;ll get mad when I can&#8217;t help them because I&#8217;m -40 bucks in my bank account.&#8221;
<h2 class="wp-block-heading">No Help At All, Or Strings Attached</h2>
Many said they receive no support at all. Some parents couldn't afford to help. Others used money as a weapon. &#8220;My mom thinks financial help = control,&#8221; one wrote.
&#8220;My parents would LOVE for me to come ask them for money,&#8221; someone added. &#8220;They would have so much fun forcing me to grovel, pulling up my bank account and shaming me for <a href="https://www.benzinga.com/25/05/45655593/just-realized-i-spent-1089-at-starbucks-in-7-months-a-middle-class-coffee-addict-wonders-if-blowing-a-mortgage-payment-on-lattes-is-normal">buying a coffee</a>, making me write out a business plan with detailed payback dates etc. I&#8217;d rather live in my car.&#8221;
A common thread was the trauma of growing up with financially comfortable parents who made them feel like a burden. One person said, &#8220;Not a day went by in my childhood where my parents didn&#8217;t complain about how much money I cost them.&#8221;
Trending: Tired of Grid Failures and Charging Deserts? This Startup Has a Solar Fix and $25M+ in Sales — <a href="https://www.benzinga.com/money/meet-the-company-seeking-to-give-americans-energy-independence-and-learn-how-you-can-become-an-early-investor">Now Raising at $3/Share</a>
<h2 class="wp-block-heading">For Others, Help Is Freely Given</h2>
On the flip side, many users shared heartwarming stories of parents or in-laws who offer help without expectations.
&#8220;My mom picks my kid up off the bus three afternoons a week and it saves me $70 a week. I'm very grateful,&#8221; one wrote. Another said, &#8220;My dad will take my car and fill it up with gas [when we visit]. We&#8217;re geriatric millennials. It's quite funny.&#8221;
One commenter explained that their in-laws help with school expenses and even make dinner when they visit. &#8220;It's very nice. I should really tell them more how nice it is.&#8221;
Several said their parents want to help now, while they're alive, instead of <a href="https://www.benzinga.com/personal-finance/25/03/44235244/inheritance-boom-the-6t-windfall-reshaping-wealth-in-2025">leaving an inheritance</a> later. One person reflected: &#8220;They want to see my sibling and I enjoying our lives, not just leave us money when they die.&#8221;
See Also: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — <a href="https://www.benzinga.com/money/americans-spend-1000-per-year-on-plastic-water-bottles-kara-pod-gives-you-clean-drinking-water-by-pulling-moisture-from-the-air">And You Can Invest At Just $6.37/Share</a>
<h2 class="wp-block-heading">Childcare Is A Game-Changer</h2>
Free or subsidized <a href="https://www.benzinga.com/news/25/04/44999168/reason-people-dont-have-kids-earlier-is-theyre-expensive-says-kevin-oleary-however-time-is-the-one-thing-money-cant-buy">childcare</a> came up repeatedly. As one person said, &#8220;Parents of young children have no idea how much they're living life on easy mode when they have their own parents around to step in as babysitters.&#8221;
One person said they bought a house next to their in-laws in hopes of getting help once kids arrived. Others said grandparents caring for kids helped them survive illness, cancer recovery, or high daycare costs.
But others noted that even retired grandparents can be completely uninvolved. &#8220;None of my kids' grandparents work, and none of them offer to help with my kids, and I mean never.&#8221;
Millennials aren&#8217;t all in the same boat. Some are getting a financial cushion from their families, while others are giving everything they have just to keep their families afloat. For many, any help, whether it&#8217;s money, time, or kindness, can mean the difference between drowning and staying above water.
If that help is healthy and freely given, more than a few people say: take it.
Read Next: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
Image: Shutterstock

Personal Finance

A Millennial Asked, 'Do You Still Get Help From Family?' Her Husband Refuses But Friends Get Free Cars And Daycare Or Paid Off Student Loans

You've probably wondered it. Maybe even scrolled through Reddit hoping to find a hint: Am I <a href="https://www.benzinga.com/personal-finance/24/09/41075540/is-your-401-k-balance-above-average-find-out-if-youre-beating-most-savers">actually on track for retirement</a>—or falling behind everyone else I know?
Whether you're 40, 50, or staring down 60, the question nags at almost everyone: How much should I have saved by now? And more importantly—how do I stack up?
The good news? You don't need to guess. Financial experts have laid out clear retirement savings benchmarks. The even better news? If you're checking in now, you're already ahead of the many who avoid this question altogether.
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<li>Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wiseradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation. </a></li>
<li>Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. <a href="https://www.benzinga.com/money/this-company-may-have-found-a-way-to-treat-cancer-by-tricking-the-bodys-immune-system-and-early-studies-show-some-promise-find-out-how-you-can-invest-in-the-future-of-cancer-treatment">Back a bold new approach to cancer treatment with high-growth potential.</a></li>
</ul>
<h2 class="wp-block-heading">What You Should Have Saved by Now</h2>
According to Fidelity's retirement guidelines, you should aim to have saved three times your annual salary by age 40, six times by 50, and eight times by 60. By retirement age—typically around 67—they recommend hitting ten times your salary to comfortably maintain your lifestyle.
If you're earning $70,000 a year, that means you should have about $210,000 by 40, $420,000 by 50, and $560,000 by 60. These numbers assume you're saving consistently, investing for growth, and planning to replace roughly 70% to 80% of your pre-retirement income when you stop working.
If your savings line up with those numbers—or even exceed them—you're likely ahead of the curve. But how do these ideal targets compare to what most people have actually saved?
Trending: GoSun's Breakthrough Rooftop EV Charger Already Has 2,000+ Units Reserved — <a href="https://www.benzinga.com/money/meet-the-company-seeking-to-give-americans-energy-independence-and-learn-how-you-can-become-an-early-investor">Become an Investor in This $41.3M Clean Energy Brand Today</a>
<h2 class="wp-block-heading">What People Actually Have in Retirement Accounts</h2>
According to the <a href="https://www.federalreserve.gov/econres/scfindex.htm">Federal Reserve's 2022 Survey of Consumer Finances</a>, as well as recent analysis from SmartAsset and Synchrony Bank, the typical American household falls well below those expert targets.
The median retirement savings for people aged 35 to 44 is about $45,000. For those aged 45 to 54, it's approximately $115,000. By age 55 to 64—the decade when most people are eyeing retirement—it rises to around $185,000.
These are medians, not averages, which means they represent the midpoint—not inflated figures thrown off by <a href="https://www.benzinga.com/personal-finance/25/01/43076826/how-does-your-nest-egg-stack-up-heres-what-it-takes-to-be-in-the-top-10-of-retirement-savers">a few very high balances</a>. In other words, they reflect what most people actually have.
So if you're looking at your retirement account and seeing numbers well above those medians, you're not just keeping up—you're outperforming a large percentage of your peers. If you're below them, you're not alone, but it may be time to reevaluate your savings pace.
See Also: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — <a href="https://www.benzinga.com/money/americans-spend-1000-per-year-on-plastic-water-bottles-kara-pod-gives-you-clean-drinking-water-by-pulling-moisture-from-the-air">And You Can Invest At Just $6.37/Share</a>
<h2 class="wp-block-heading">What to Do If You're Behind</h2>
If your current savings fall short of the benchmarks, don't panic. There's still time to make a meaningful shift.
Start by automating contributions to your 401(k) or IRA. If you're over 50, take advantage of catch-up contribution limits to increase how much you can put away tax-deferred. Even small, consistent increases in savings—especially when invested for growth—can have a major impact over time.
Revisit your budget and see where you might free up extra cash. And if needed, consider adjusting your retirement timeline. Working a few more years can help you save more and reduce the number of years your savings will need to support you.
Whether your <a href="https://www.benzinga.com/money/smartasset">retirement account is ahead of the curve</a> or still playing catch-up, the most important move isn't hitting the perfect number—it's making sure you're moving in the right direction.
Read Next: Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>
Image: Shutterstock

Here's How Much You Should Have Saved for Retirement by 40, 50, or 60 — Are You Ahead of the Curve or Falling Behind?

Demonstrators gathered inside and outside of New York City's 5th Avenue Apple store on Sunday to denounce big tech companies for backtracking on their previous support of the Paris Climate Agreement and to protest the <a href="https://www.benzinga.com/topic/trump-administration">Trump administration</a>, which protestors say is funneling billions of dollars to fossil fuel companies.
Inside the store, a group led by Extinction Rebellion NYC unfurled a banner and chanted "Dump Trump, Apple!" Police officers were called and quickly ejected the protesters. At least one person was arrested, <a href="https://www.amny.com/news/activist-arrested-midtown-apple-store-protest-07062025/">per</a> local media.
Outside the popular Apple Store, more activists were spray-painting the words "Boycott" and "Tim + Trump = Toxic," referencing Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO <a href="https://www.benzinga.com/topic/tim-cook">Tim Cook</a>.
<h2 class="wp-block-heading">What Say You, Mr. Cook?</h2>
In an <a href="https://x.com/tim_cook/status/1701732427897491578?lang=en">X post</a> in September 2023, Cook seemed to be down with the cause. "At Apple, we believe that climate change is one of the world's most urgent priorities and we are deeply committed to doing our part. Today we had a special guest—a real force of nature—stop by to check on our progress."
Then things changed when Trump was elected. 
"Every policy, every business decision, every vote must confront the reality that our planet's future is on the line. Big Tech promised leadership, but when the heat was on, they sat silent—front and center at Trump's inauguration, funding a regime that's gutting climate protections," said Devin Lilly, a spokesperson for Extinction Rebellion.
<h2 class="wp-block-heading">Texas Floods And Climate Change</h2>
The Sunday protest occurred as the death toll from flooding in Central Texas rose to at least 67 lives. Some state officials are blaming the tragedy on a faulty forecast by the new National Weather Service, which was gutted by Trump-Musk-DOGE cost cuts and the firing of the agency's most experienced personnel.
"The original forecast we received on Wednesday from the National Weather Service predicted 3-6" of rain in the Concho Valley and 4-8" of rain in the hill country,&#8221; <a href="https://www.meidasplus.com/p/texas-officials-blame-agency-gutted?fbclid=IwY2xjawLXvRxleHRuA2FlbQIxMQBicmlkETExa0d5dmRIWUxITDU5NW9EAR6q2SJRxRFymeXTdQNHEsS9yeRoQzFcN0cnnrHQbgBcp8R00sZCNIT68f4dlQ_aem_MR5AnNnyJjK2771oaw5UQQ">said</a> one official, adding that the amount of rain that fell in these locations was never in any of their forecasts.
<h2 class="wp-block-heading">Climate Change: Data Centers To Blame?</h2>
Data centers, which power artificial intelligence models and cloud computing, consume <a href="https://www.benzinga.com/partner/commodities/24/05/38814247/ai-data-center-power-requirements-increasing-demand-for-critical-materials-like-copper-and-ur">vast amounts of electricity</a>, much of it sourced from fossil fuels.
A study <a href="https://www.benzinga.com/25/02/43906562/google-microsoft-and-meta-linked-to-54-billion-in-health-costs-as-ai-data-centers-fuel-pollution-crisis-in-the-us-report">reported</a> by Benzinga found that pollution from Big Tech's data centers has cost the U.S. public health system an estimated $5.4 billion over the past five years. Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google, Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) are among the biggest contributors.
Microsoft, Alphabet, Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and Meta <a href="https://in.benzinga.com/trading-ideas/long-ideas/25/02/43564458/big-techs-2025-ai-bill-is-320-billion-and-counting-can-investors-stomach-it">expect to spend over $320 billion</a> on AI this year, up from $151 billion in 2023 and $246 billion in 2024. 
Photo: Courtesy Extinction Rebellion NYC&nbsp;

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Anti-Trump Climate Protesters Storm NYC Apple Store, Confront CEO Tim Cook Amid Texas Flood Crisis

Sam Altman, the CEO of OpenAI, has been credited with a significant sales boost for crib manufacturer Cradlewise, following his endorsement of the product.
What Happened: Altman, who became a father in February, shared his parenting supplies recommendations in an April 13 post, which included a shout-out to Cradlewise. &#8220;Definitely I recommend a Cradlewise crib,&#8221; he stated.
Following Altman&#8217;s endorsement, Cradlewise experienced a surge in organic site traffic by over 30% and a notable increase in daily sales, Cradlewise&#8217;s co-founder and CEO, Radhika Patil, <a href="https://www.businessinsider.com/sam-altmans-influence-boosted-crib-sales-ceo-says-2025-7">told </a>Insider.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">we bought a lot of silly baby things that we haven&#39;t needed but definitely i recommend a cradlewise crib and a lot more burp rags than you think you could possibly need
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1911496563157000568?ref_src=twsrc%5Etfw">April 13, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Google Trends data revealed that searches for Cradlewise peaked on the day of Altman&#8217;s post. The company has since featured Altman&#8217;s endorsement on its official website.
Also Read: <a href="https://www.benzinga.com/trading-ideas/technicals/25/06/46160081/sam-altman-warns-users-not-to-blindly-trust-chatgpt-despite-its-rising-fame-says-ai-hallucinates-it-should-be-the-tech-that-you-dont-trust-that-much">Sam Altman Warns Users Not To Blindly Trust ChatGPT Despite Its Rising Fame, Says &#8216;AI Hallucinates, It Should Be The Tech That You Don&#8217;t Trust That Much&#8217;</a>
The Cradlewise crib, retailing at $1,999, is known for its unique features such as a built-in baby monitor, sound machine, and the ability to convert&nbsp;from a bassinet into a&nbsp;crib.
&#8220;Sam Altman&#8217;s mention of Cradlewise&nbsp;was a surreal and humbling&nbsp;moment for our team,&#8221; Patil&nbsp;said.
Why It Matters: The power of celebrity endorsements is well-documented, and Altman&#8217;s influence in the tech industry is significant. 
His endorsement not only increased sales but also boosted the brand&#8217;s visibility, as evidenced by the spike in Google Trends. 
This incident highlights the potential impact of influential figures on consumer behavior and the success of a product in the market.
Read Next
<a href="https://www.benzinga.com/news/25/05/45366262/openais-sam-altman-reaches-out-to-elon-musk-amid-ongoing-social-media-spat-lets-be-friends">OpenAI&#8217;s Sam Altman Reaches Out to Elon Musk Amid Ongoing Social Media Spat: &#8216;Let&#8217;s Be Friends&#8217;</a>
Image: Shutterstock

News

Sam Altman's Endorsement Skyrockets Crib Sales, Cradlewise CEO Reveals

Billionaire entrepreneur&nbsp;Mark Cuban&nbsp;once shed light on the challenges of raising children amidst substantial wealth. He emphasized the significance of individual success and self-reliance.
What Happened:&nbsp;Cuban, who boasts&nbsp;an estimated net worth of&nbsp;$5.7 billion, voiced his concerns about the expectations his wealth imposes on his children. These comments were made during a discussion with TikToker Bobbi Althoff on &#8220;The Really Good Podcast.&#8221;
Cuban, a father to three children aged between 13 and 20, expressed that his wealth often leads to assumptions about his children. He aspires for his children to carve out their own paths and careers without being perpetually compared to him.
&#8220;Sometimes I think [the money&nbsp;is] the part they don&#8217;t&nbsp;like,&#8221; Cuban&nbsp;<a href="https://www.youtube.com/watch?v=keN-qiRfU3c">said </a>during the interaction. &#8220;Not that they want&nbsp;to be poor, but it&nbsp;sets an expectation &#8230; it&#8217;s&nbsp;how other people see them.&#8221;
Also Read: <a href="https://www.benzinga.com/personal-finance/financial-advisors/25/06/45939593/mark-cuban-challenges-concept-of-work-life-balance-for-high-achievers-not-working-would-be-a-sacrifice">Mark Cuban Challenges Concept of Work-Life Balance for High Achievers: Not Working &#8216;Would Be a Sacrifice&#8217;</a>
Known for his entrepreneurial endeavors and investments, Cuban has always championed his children to achieve&nbsp;their own successes, rather than&nbsp;leaning on his reputation or wealth. He motivates his children&nbsp;to use their own money, earned from chores or jobs, for buying non-essential items.
He also revealed that his 13-year-old son is treading his entrepreneurial path, selling candy bars to classmates and understanding business costs.
Why It Matters: Cuban&#8217;s comments highlight the unique challenges faced by the children of wealthy individuals. The expectations set by their parents&#8217; success can often lead to undue pressure and scrutiny. 
Cuban&#8217;s approach to parenting emphasizes the importance of self-reliance and individual success, values that he hopes will guide his children in their own journeys. 
His son&#8217;s entrepreneurial endeavors indicate that Cuban&#8217;s values are already having an impact, potentially shaping the next generation of business leaders.
Read Next
<a href="https://www.benzinga.com/news/25/03/44348044/mark-cuban-reveals-what-hed-do-as-a-gen-zer-to-get-ahead-even-while-sleeping-if-i-was-16-18-20-21-starting-today-i-would-spend-every-waking-minute-learning-it" target="_blank" rel="noreferrer noopener">Mark Cuban Reveals What He'd Do As A Gen Zer to Get Ahead—Even While Sleeping: ‘If I Was 16, 18, 20, 21 Starting Today, I Would Spend Every Waking Minute Learning It'</a>
Image: Shutterstock

Mark Cuban Says His Children Struggle With the Downsides of His Wealth: 'Not That They Want To Be Poor, But It Sets An Expectation'

Bolt CEO Ryan Breslow says it&#8217;s time to stop pretending unlimited vacation is working.
<h2 class="wp-block-heading">The Promise Isn&#8217;t Living Up To The Hype</h2>
In a recent LinkedIn <a href="https://www.linkedin.com/posts/ryanbreslow_we-just-killed-unlimited-pto-at-bolt-it-activity-7345775765600235521-XFVB/">post</a>, Breslow announced that his online checkout company is officially ditching its unlimited paid time off policy, joining the ranks of Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) and Kickstarter. The move comes after realizing the policy wasn't helping the team; it was actually hurting it.
&#8220;It sounds progressive, but it&#8217;s totally broken,&#8221; Breslow wrote. &#8220;When time off is undefined, the good ones don&#8217;t take PTO. The bad ones take too much.&#8221;
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The result? &#8220;A-performer burnout. B-performer luxuries. And feelings of unfairness across the board,&#8221; he said.
Bolt is now offering four weeks of mandatory paid vacation, with additional time accruing based on tenure. According to Breslow, this shift brings clarity and fairness, which he believes are crucial if the company is asking employees to &#8220;move fast, build hard, and operate at the highest level.&#8221;
&#8220;Execution requires clarity. That applies to PTO, too,&#8221; he added.
<h2 class="wp-block-heading">Bolt Isn&#8217;t Alone</h2>
While unlimited vacation policies sound like a dream, experts say they often benefit employers more than employees. CBS MoneyWatch <a href="https://www.cbsnews.com/news/unlimited-vacation-bad-deal-companies-save-billions/">reported</a> in 2023 that such policies allow companies to erase unused vacation day liabilities from their balance sheets, saving them billions.
Trending: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wiseradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation.&nbsp;</a>
Wharton School Professor Peter Cappelli told CBS MoneyWatch that shifting to unlimited time off means companies go from a &#8220;contractual obligation to a kind of moral obligation.&#8221; He estimated that U.S. businesses are saving about $224 billion by doing this.
&#8220;Conscientious employees aren&#8217;t likely to take advantage of their access to unlimited time off, but less-motivated employees&#8230; can be far more inclined to take off as much time as they can get away with,&#8221; workplace consultant Alison Green told CBS MoneyWatch.&nbsp;
Bolt recently made another controversial <a href="https://www.linkedin.com/posts/ryanbreslow_bolt-has-eliminated-its-hr-department-activity-7340377688517365761-0TcL/">change</a>—eliminating its human resources department entirely. Breslow said the company has replaced it with &#8220;people ops,&#8221; which he claims is more <a href="https://www.benzinga.com/news/24/09/41079963/decoding-zuckerbergs-efficiency-mantra-a-wifi-password-speaks-volumes">focused on efficiency</a> and gives managers more power.
&#8220;We believe there&#8217;s a better way to do it; and one without middlemen getting in the way of our teammates and their managers,&#8221; he wrote. &#8220;After several experiments, including Conscious Culture, I've concluded that HR is the wrong energy, format, and approach. People ops empowers managers, <a href="https://www.benzinga.com/markets/25/03/44077254/i-dont-know-may-be-the-key-to-smarter-investing-decisions">streamlines decision making</a>, and keeps the company moving at lightning speed.&#8221;
That shift is part of a broader theme at Bolt: cutting unnecessary complexity and putting clearer systems in place. In Breslow&#8217;s view, that includes ditching unlimited vacation.
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Image: Shutterstock

NFLX

Another Company Is Scrapping Unlimited Time Off For Their Employees—'The Good Ones Don't Take PTO. The Bad Ones Take Too Much'

When one millennial asked on <a href="https://www.reddit.com/r/Millennials/comments/1loh3ot/do_you_personally_know_any_millennial/">Reddit</a>, &#8216;Do you personally know any millennial millionaires?&#8217; they probably weren't expecting hundreds of real answers. But the replies came fast and honest—yes, they exist, and they're not as rare as people might think.
<h2 class="wp-block-heading">From Tech Jobs To Inheritance, There&#8217;s No Single Path</h2>
A large chunk of the thread was filled with stories of people who got into tech early. &#8220;The one from college went into computer science, ended up working at FAANG right out of school,&#8221; the original poster wrote. FAANG refers to Facebook, Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) and Google. After more than 12 years of saving and investing, their friend <a href="https://www.benzinga.com/real-estate/25/06/46092317/are-you-one-of-the-1000-people-per-day-who-recently-became-a-millionaire-dont-make-this-one-mistake-that-sends-most-back-to-square-one">hit millionaire status</a>.&nbsp;
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Another added, &#8220;Every single engineer I know became a millionaire by around 30.&#8221;
Some became millionaires the long, slow way. &#8220;I am, but low level with a worth of about $1.5M,&#8221; one person wrote. &#8220;No magic sauce to my methods, I've just <a href="https://www.benzinga.com/news/25/05/45578789/kevin-oleary-says-this-one-habit-alone-could-make-you-a-millionaire-and-you-dont-even-have-to-bother">consistently contributed</a> to my accounts over the years and busted my butt working on the house which is now worth 3x what I paid.&#8221;
<a href="https://www.benzinga.com/personal-finance/24/06/39402040/ramit-sethi-says-becoming-a-multimillionaire-is-simple-invest-10-of-your-salary-every-year-with-">Index funds and time</a> were a recurring theme. &#8220;Once I hit around $150K I noticed exponentially growing,&#8221; a commenter shared. Others said they were well on their way just by investing early and often, even on modest salaries. &#8220;I'm a mechanical engineer&#8230; I just make good money but not incredible and always lived on about the US median or less,&#8221; one person said. &#8220;We've had an insane bull run since I graduated in the mid-2010s.&#8221;
Location mattered too. &#8220;A lot of my friends on the west coast are [millionaires], just because of higher salaries and housing,&#8221; one said. Others mentioned they felt wealthy in their communities even if they'd be average in places like the San Francisco Bay Area.
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Of course, plenty got there through inheritance or generational wealth. &#8220;I do. Their parent died, and they inherited a lot of money plus life insurance money, and sold the parent's $1.6M home,&#8221; one commenter wrote. Another admitted, &#8220;Me and all of my brothers, but just because our parents established trust funds for each of us.&#8221;
Still, many were self-made through business ownership. &#8220;Buddy is a convict and couldn't get a job. He started his own concrete business. It's hard work but he easily makes $600K a year.&#8221; Others succeeded in less expected ways: OnlyFans, YouTube, or founding companies and selling them off.
Some reminded others that being a millionaire today isn't what it used to be. &#8220;Literally about a third of the wealth of a millionaire in 1984,&#8221; someone pointed out. &#8220;Meaning you really need to have $3 million to have the lifestyle of a millionaire we think of.&#8221;
But there was a shared thread across most responses: they lived below their means, stayed consistent, and had a long time horizon. As one person put it, &#8220;Simple but not easy is really it.&#8221;
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</ul>
Image: Shutterstock

A Millennial Asked, 'Do You Personally Know Any Millennial Millionaires?' Turns Out, They're All Around Us—As It Should Be

In the midst of a public spat with President Donald Trump, Elon Musk, CEO of Tesla Inc., has received an unexpected offer of support from Michael Cohen, <a href="https://www.benzinga.com/news/24/06/39243630/a-prosecutor-made-a-key-allegation-in-donald-trumps-hush-money-case-except-it-doesnt-seem-to-add-up">Trump&#8217;s former personal attorney.</a>
What Happened: Last month Cohen reached out to Musk following a series of heated exchanges between the Tesla CEO and President Trump on social media. 
Musk, who was once a strong supporter of Trump and even headed the Department of Government Efficiency, publicly denounced Trump&#8217;s &#8220;One Big Beautiful Bill.&#8221;
Musk&#8217;s criticism of Trump, which included allegations of the president&#8217;s involvement in the Epstein files, and his claim that the&nbsp;Republicans would not have won&nbsp;the 2024 elections without his support, could have far-reaching effects on the tech industry, the business world, and American politics, considering the significant influence wielded by both Trump and Musk.
Cohen, who had his own public disagreement with Trump and served a prison sentence for various charges, has since become a vocal critic of the president. 
Also Read: <a href="https://www.benzinga.com/news/politics/25/07/46264859/ex-trump-family-attorney-raises-alarms-over-trumps-actions-as-president-i-have-never-been-as-concerned">Ex-Trump Family Attorney Raises Alarms Over Trump&#8217;s Actions as President: &#8216;I Have Never Been As Concerned&#8217;</a>
He reached out to Musk on X, with a message: &#8220;@elonmusk I told you this would happen. If you want to know how to fight political guerrilla warfare, DM me! Otherwise, you lose.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">. <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> I told you this would happen. If you want to know how to fight political guerilla warfare, DM me! Otherwise, you lose. <a href="https://t.co/FN8uFS51te">https://t.co/FN8uFS51te</a>
&mdash; Michael Cohen (@MichaelCohen212) <a href="https://twitter.com/MichaelCohen212/status/1930781215076040850?ref_src=twsrc%5Etfw">June 6, 2025</a></blockquote>
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In a subsequent Substack post, Cohen cautioned Musk that Trump has &#8220;the full weight of the federal government behind him,&#8221; and that Musk &#8220;made the classic mistake of believing he was untouchable.&#8221; 
&#8220;Let me make something crystal clear: no one; not Bannon, not Jared, not Rudy, not me, and definitely not Elon, has ever been more important to Trump than Trump. The &#8216;bromance&#8217; is never about you. It&#8217;s about what he can extract from you. Your loyalty. Your power. Your credibility. Your money. And when it&#8217;s over, it&#8217;s not just over; it&#8217;s scorched earth,&#8221; he wrote in the Substack.
The public feud between Musk and Trump is not just a personal disagreement. It has the potential to impact the tech industry and the broader business sector, given the substantial influence both individuals have. 
Cohen&#8217;s offer to assist Musk in navigating this political minefield could signal a shift in alliances and power dynamics, with potential implications for future political and business developments.
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Politics

TSLA

Ex-Trump Lawyer Sent This Message To Elon Musk After Feud With Donald Trump Erupted

Long before she wrote a memoir or inherited millions, Lisa Brennan-Jobs was just a 9-year-old hoping her dad might give her his old Porsche.
In an <a href="https://www.vanityfair.com/news/2018/08/lisa-brennan-jobs-small-fry-steve-jobs-daughter">excerpt from her memoir, "Small Fry," in Vanity Fair</a> in 2018, she recalled a moment that stuck — not because of the car, but because of what it revealed.
She'd heard that her father, <a href="https://www.benzinga.com/markets/tech/25/06/46159877/steve-jobs-once-spent-two-weeks-choosing-a-washing-machine-for-his-palo-alto-home-and-he-got-more-thrill-out-of-it-than-any-piece-of-high-tech-in-ages">Steve Jobs</a>, liked to <a href="https://www.benzinga.com/general/education/24/10/41196286/apple-founder-steve-jobs-swapped-porsches-every-6-months-heres-why">trade in his Porsches</a> anytime one got scratched. So she asked, half-curious, half-hopeful: Could she have one when he was done with it?
"‘Absolutely not,' he said in such a sour, biting way that I knew I'd made a mistake," she wrote. "‘You're not getting anything,' he said. ‘You understand? Nothing. You're getting nothing.'"
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She remembered the sting more than the words. "His voice hurt — sharp, in my chest."
It was one of many moments she describes in her memoir — not to attack her father, but to reckon with the complexity of who he was. She doesn't flatten him into a villain. But she doesn't soften the pain either.
Before Apple made him a household name, Jobs denied paternity when Lisa was born in 1978. He even told <a href="https://time.com/4063996/steve-jobs-movie-time-magazine-profile/">Time magazine</a> in 1982 that "28% of the male population of the United States could be the father." A court-ordered test later found a 94.1% chance that he was.
Her mother, Chrisann Brennan — a painter and early Apple employee — raised Lisa alone, often relying on welfare. Jobs didn't start paying child support until the results came in, and even then, it started at just $385 a month.
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In 2015, <a href="https://fortune.com/2015/08/06/steve-jobs-apple-girlfriend/">Fortune reported</a> that Jobs eventually did more. He bought Brennan two cars, purchased a $400,000 home for her, paid for Lisa's private school tuition, and gradually increased monthly support to $4,000. Still, Brennan reportedly said, "He was cheap as he could be. He under-provided for everything. It was always like pulling teeth to get him to step up."
Lisa recalled other emotional gaps too — like when she asked why he didn't keep any baby photos of her. She wondered aloud if she'd been an ugly baby. He didn't respond.
When she got to Harvard, Jobs reportedly refused to pay for her senior year. Family friends covered it instead. He reimbursed them years later.
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After his death in 2011, Fortune also reported that Jobs left Lisa a multimillion-dollar inheritance — though the vast majority of his $10.8 billion fortune went to his wife, Laurene Powell Jobs. She later said she had no plans to pass that wealth on to his other three children. "If I live long enough, it ends with me," she told <a href="https://www.nytimes.com/2020/02/27/business/laurene-powell-jobs-corner-office.html">The New York Times in 2020</a>, noting that Steve never cared much about accumulating money.
Some critics praised Lisa's memoir as thoughtful and restrained. Others saw it as a raw portrait of a father who could be emotionally absent, even cruel.
Lisa never claimed her intention was to settle scores. But the story she told — of asking for a used Porsche and being told she'd get "nothing" — made it hard to ignore just how much she had longed for something more.
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Image: Shutterstock

Steve Jobs' Daughter Says He Refused To Give Her His Old Porsche When She Was 9 —'You're Not Getting Anything. You Understand? Nothing'

President Donald Trump&#8216;s approval rating among Baby Boomers has seen a significant surge, potentially solidifying his political base as we approach the 2026 midterm elections.
What Happened:&nbsp;The latest Quantus Insights poll shows a significant shift in&nbsp;Trump&#8217;s approval rating among baby&nbsp;boomers. Last month, the approval and disapproval ratings were evenly split at 49 percent. 
However, this month&#8217;s poll reveals a 15-point swing in Trump&#8217;s favor, with 56 percent approval and 41 percent disapproval.
Despite declining approval ratings among younger Americans and other key demographics, this turnaround emphasizes Trump&#8217;s enduring appeal among older conservatives. Baby boomers, who were instrumental in Trump&#8217;s 2024 victory, continue to be a vital part of his political base.
While the Quantus Insights poll&nbsp;indicates a surge in boomer support for Trump, other polls suggest&nbsp;that his approval rating among&nbsp;this demographic has remained relatively&nbsp;consistent in recent months. 
Also Read: <a href="https://www.benzinga.com/news/25/05/45482902/poll-shows-trumps-approval-rating-underwater-on-nearly-everything-from-economy-to-abortion">Poll Shows Trump&#8217;s Approval Rating Underwater on Nearly Everything From Economy to Abortion</a>
A&nbsp;YouGov/Economist poll found Trump&#8217;s rating&nbsp;among over-65s holding steady at&nbsp;45 percent approve/53 percent disapprove&nbsp;in June—barely changed from May&#8217;s&nbsp;numbers of 45/51.
Why It Matters: Trump&#8217;s standing with boomers, however, could be jeopardized in the coming months following the passage of Trump&#8217;s &#8220;Big Beautiful Bill&#8221; last Thursday. 
This legislation is set to slash approximately&nbsp;$1.1 trillion in health care&nbsp;spending and result in 11.8&nbsp;million people losing Medicaid health&nbsp;insurance over the next decade,&nbsp;according to&nbsp;estimates from the nonpartisan Congressional&nbsp;Budget Office.
Recent polls show&nbsp;that a majority of Americans&nbsp;oppose Trump&#8217;s One Big Beautiful&nbsp;Bill Act. A Quinnipiac poll&nbsp;conducted June 22-24 found that&nbsp;55 percent of Americans oppose&nbsp;the bill. 
A Fox News&nbsp;survey from June 13-16 put&nbsp;opposition even higher, at 59&nbsp;percent. This opposition, particularly from a demographic reliant on healthcare, could potentially impact Trump&#8217;s approval ratings in the future.
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Donald Trump's Approval Rating Jumps Among Baby Boomers — Here's What's Driving It

In the wake of President Donald Trump&#8216;s budget bill approval, billionaire and financial advisor Ray Dalio anticipates serious economic repercussions.
What Happened: Dalio has voiced serious apprehensions about the financial future of the US. President Trump&#8217;s &#8220;One Big Beautiful Bill&#8221; is projected to escalate the national debt from roughly $230,000 per household to $425,000 within the next decade.
In a post on X, Dalio cautions that this national debt surge will have severe consequences. The&nbsp;bill is expected to lead&nbsp;to an annual expenditure&nbsp;of about $7 trillion against an income of approximately $5 trillion. 
As a result, the debt, currently 6x of the income,&nbsp;100% of GDP, and about&nbsp;$230,000 per family, will increase to about 7.5x the income, 130% of GDP, and $425,000 per family over the next decade.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Now that the budget bill has passed Congress, we can see what the projections look like for deficits, government debt, and debt service expenses. In brief, the bill is expected to lead to spending of about $7 trillion a year with inflows of about $5 trillion a year, so the debt,…
&mdash; Ray Dalio (@RayDalio) <a href="https://twitter.com/RayDalio/status/1940842227409748385?ref_src=twsrc%5Etfw">July 3, 2025</a></blockquote>
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This rise will elevate the&nbsp;interest and principal payments on&nbsp;the debt from about $10&nbsp;trillion to roughly $18 trillion, resulting in significant spending cutbacks, unprecedented tax increases, or extensive money printing and devaluation.
Also Read: <a href="https://www.benzinga.com/personal-finance/financial-advisors/25/06/46159972/us-faces-financial-heart-attack-ray-dalio-warns-shares-investment-strategies-the-safest-investment-that-you-can-get-right-now-is-an-inflation-indexed-bond">US Faces &#8216;Financial Heart Attack,&#8217; Ray Dalio Warns — Shares Investment Strategies: &#8216;The Safest Investment That You Can Get Right Now Is An Inflation-Indexed Bond&#8217;</a>
Dalio proposes that the solution to this looming fiscal crisis&nbsp;is to cut spending and&nbsp;raise taxes to decrease the annual deficit to GDP ratio. 
He warns that if these measures are not soon implemented, &#8220;big, painful disruptions will likely&nbsp;occur.&#8221;
Why It Matters: The forecasted doubling of the US national debt over the next decade is a serious concern. 
The predicted consequences of this increase, including significant spending cutbacks, unprecedented tax hikes, and potential money devaluation, could have far-reaching implications for the US economy. 
Dalio&#8217;s warning serves as a stark reminder of the need for fiscal responsibility and strategic economic planning to mitigate these potential disruptions.
Read Next
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Image: Shutterstock

Ray Dalio Forecasts 'Big, Painful Disruptions' as US National Debt Set To Swell Over Next Decade

When a listener named Laura wrote into the "<a href="https://omny.fm/shows/suze-ormans-women-and-money/ask-kt-suze-anything-throwing-money-at-a-problem-does-not-always-solve-it">Women &amp; Money</a>" podcast with a complicated family dilemma, Suze Orman didn't hesitate to break it down. The story involves a 72-year-old woman, recently divorced, who now works full time in a Montessori school just to get by. But the financial fallout extends beyond her personal situation — it's rippling through the entire family.
<h2 class="wp-block-heading">A Retirement Lost to a Risky Gamble</h2>
A listener, Laura, wrote into Orman's show and shared that her 72-year-old sister-in-law recently emptied out her entire retirement account to support her son's efforts to become a day trader — a gamble that failed. Not only did this leave her <a href="https://www.benzinga.com/personal-finance/management/25/06/45719038/how-this-investor-went-from-being-50-years-old-with-no-savings-to-a-comfortable-retirement-at-65">without savings</a>, but it also triggered unexpected tax consequences, which further complicated her financial position.
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Now, at an age when many are winding down their careers — if not fully retired already — she's working full time and living in a one-bedroom apartment. To help her make ends meet, Laura and other family members contribute $1,000 a month.
<h2 class="wp-block-heading">Meanwhile, the Ex-Husband Is Living Large</h2>
Here's where it gets even more complex: Laura's brother — the woman's ex-husband — has moved on. He's remarried and owns homes in multiple cities, including Rio de Janeiro and Chicago, and is considering buying a third property with another sibling.
While he meets the minimum requirements of his divorce settlement, Laura feels that he is neglecting a moral responsibility to help his former spouse, especially given her vulnerable position. This has led to tension within the family — and between Laura and her own husband, who is content to continue providing financial support without raising concerns.
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<h2 class="wp-block-heading">Orman's Take: Separate the Issues</h2>
Orman was quick to point out that this is really two separate problems: Laura's frustration with her husband, and the larger issue of her sister-in-law's <a href="https://www.benzinga.com/personal-finance/25/03/44348164/why-millions-of-americans-are-tapping-their-401k-savings-early">financial hardship</a>.
First, Orman encouraged Laura to be understanding of her husband's stance. He may be avoiding conflict, or he might not feel a deep connection to her brother and his ex-wife.&nbsp;
"If I were you, forget your husband in terms of him not wanting to do it," Orman said. "That&#8217;s fine. Understand that and don&#8217;t take it personally. It&#8217;s not damaging your relationship in reality. It&#8217;s just in your head."
<h2 class="wp-block-heading">The Bigger Problem: Why Aren't the Men Stepping Up?</h2>
The larger issue, Orman noted, centers on the ex-husband and the adult son — both of whom are absent from the woman's financial support system. Orman stressed that while the brother is legally in the clear, the emotional and ethical impact of his choices shouldn't be ignored.
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The woman emptied her retirement account to help her son. Orman asked, "Is he working and why isn't he helping her?"
Orman recommended that Laura have two separate, honest conversations: one with her brother and one with her nephew. With her brother, Orman advised sharing how painful it's been to watch his ex-wife struggle and asking, without blame, if he'd be willing to do more to help, even if the <a href="https://www.benzinga.com/news/entertainment/25/06/46107000/jeff-bezos-first-marriage-ended-in-a-38-billion-divorce-now-as-the-amazon-founder-plans-to-marry-lauren-sanchez-hes-reportedly-ring-fencing-his-233-billion-fortune">divorce agreement</a> doesn't require it.&nbsp;
With the nephew, Orman suggested asking whether he's financially stable and aware that the rest of the family is covering his mother's expenses — and what he plans to do to contribute to her care going forward.
<h2 class="wp-block-heading">A Family Matter That's Not Going Away</h2>
While the woman's financial struggles began with a divorce and a risky investment, her situation has become a family-wide issue. Orman's advice? Keep compassion at the center of every conversation, and don't be afraid to ask tough questions — especially to those who may not be pulling their weight.
Read Next: <a href="https://www.benzinga.com/money/gbr-savings-by-age">If You're Age 35, 50, or 60: Here&#8217;s How Much You Should Have Saved Vs. Invested By Now</a>
Image: Shutterstock

Divorce At 72 Leaves Woman Working Full Time To Make Ends Meet, But That's Not All - Suze Orman Weighs In

Aluminerie Alouette, Canada's largest aluminum smelter and a key supplier to the U.S. market, announced a CA$1.5 billion ($1.1 billion) investment in its northern Québec facilities. The firm, owned by a Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>)-led consortium, is making this commitment despite growing pressure from <a href="https://www.benzinga.com/topic/tariffs">U.S. tariffs</a> and global trade uncertainty.
"Today's announcement, which we have been working on for several months, paves the way for the coming decades for our current and future employees, our communities and our business partners," <a href="https://www.alouette.com/en/media/press-releases?id=3201&amp;pg=0">said</a> Claude Gosselin, President and CEO of Aluminerie Alouette.
"We sincerely appreciate the collaboration of the Quebec government and Hydro-Québec for their unwavering confidence in the essential role that primary aluminum plays in the economic vitality of both our region and the province," he added.
The investment follows a newly signed long-term power agreement with Hydro-Québec that will guarantee electricity supply through 2045. With an annual capacity of 630,000 metric tons, the Sept-Îles facility is critical to North American aluminum supply chains.
Owned by a consortium that includes Rio Tinto (40%), Hydro Aluminium (20%), AMAG Austria Metall (20%), Marubeni (13.33%), and QUALIUM (6.67%), Aluminerie Alouette employs around 950 people and represents the largest private employer in the region.
Aluminum produced in Québec is particularly important to the United States, which has only four operating primary aluminum smelters, which are insufficient for domestic needs. Canada supplies approximately 2.7 million metric tons of aluminum to the U.S. annually, supporting sectors from automotive and aerospace to food packaging. The U.S., however, has threatened tariffs of up to 50% on Canadian aluminum, a move widely criticized as counterproductive.
"The United States needs Quebec to meet its demand, especially since we produce 70% of all aluminum in North America," Quebec's Economy Minister Christine Frechette said, according<a href="https://www.bloomberg.com/news/articles/2025-07-02/rio-tinto-backed-aluminum-firm-to-invest-1-1-billion-in-canada-smelter"> to</a> Bloomberg. Still, with U.S. tariffs pushing Canadian aluminum out of the market, American manufacturers face <a href="https://www.benzinga.com/25/03/44338152/can-manufacturers-warn-about-tariffs-ask-for-targeted-relief">rising costs for essential goods</a>, while Canada&#8217;s producers look to Europe for alternative buyers.
The Canadian aluminum industry has taken steps to protect its market integrity, including supporting Finance Canada&#8217;s new import monitoring system and the "Country of Smelt and Cast" provisions designed to block unfair trade. Jean Simard, President of the Aluminium Association of Canada, <a href="https://www.benzinga.com/markets/commodities/25/06/45766967/us-aluminum-tariffs-risk-supply-chain-and-food-security-industry-insiders-warn">noted</a> that Canadian aluminum "is not—and will not be—a backdoor for unfair trade," pointing to Canada's leadership in traceability and sustainability.
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Financing

Commodities

Legal

Markets

Aluminerie Alouette to Invest $1.1 Billion in Major Canadian Aluminum Revamp

Author and investor Robert Kiyosaki, best known for his book &#8220;Rich Dad Poor Dad,&#8221; is once again sounding the alarm on what he sees as a major threat to the financial stability of millions: artificial intelligence.
<h2 class="wp-block-heading">AI Will &#8216;Cause Massive Unemployment&#8217;</h2>
In a July 1 <a href="https://x.com/theRealKiyosaki/status/1940127375217303621">post on X</a>, Kiyosaki called AI the &#8220;Biggest change in modern history&#8221; and warned that it will result in massive job losses, even for high-performing students. &#8220;AI will cause many &#8216;smart students&#8217; to lose their jobs,&#8221; he wrote. &#8220;AI will cause massive unemployment.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BIGGEST CHANGE in MODERN HISTORY AI will cause many "smart students" to lose their jobs. AI will cause massive unemployment. Many still have student loan debt. AI cannot fire me because I do not have a job. If you are in this category please take proactive action. Please do…
&mdash; Robert Kiyosaki (@theRealKiyosaki) <a href="https://twitter.com/theRealKiyosaki/status/1940127375217303621?ref_src=twsrc%5Etfw">July 1, 2025</a></blockquote>
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He emphasized that those still <a href="https://www.benzinga.com/25/05/45260074/student-loan-debt-hits-1-77-trillion-dave-ramsey-blames-parents-not-policies-its-not-a-student-loan-crisis-we-have-a-parenting-crisis">carrying student loan debt</a> are especially vulnerable. &#8220;AI cannot fire me because I do not have a job,&#8221; Kiyosaki said, pointing to his own path as an entrepreneur.
Instead of following traditional advice like going to school, getting good grades, landing a job, and <a href="https://www.benzinga.com/money/types-of-alternative-investments">investing in a diversified portfolio</a>, Kiyosaki said he chose to build wealth through entrepreneurship, real estate, and hard assets. &#8220;I have been saving real gold, silver, and today Bitcoin,&#8221; he wrote.
&#8220;Please take proactive action. Please do not be a victim of this &#8216;time in history,'&#8221; he urged.
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<h2 class="wp-block-heading">A Longstanding Critic Of &#8216;Fake Fiat Money&#8217;</h2>
Kiyosaki has been outspoken about what he views as an unstable financial system. In last month&#8217;s <a href="https://x.com/theRealKiyosaki/status/1936989017079238876">post</a>, he warned of a coming global monetary collapse fueled by what he calls the &#8220;biggest debt bubble in history.&#8221;
&#8220;Will you be richer or poorer when the <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46045741/rich-dad-poor-dad-author-robert-kiyosaki-warns-of-global-debt-collapse-urges-buying-gold-silver-bitcoin">biggest debt bubble in history</a> bursts?&#8221; he asked.&nbsp; &#8220;Biggest losers will be savers of fake fiat money and especially bonds.&#8221;
Kiyosaki&#8217;s message is that traditional saving strategies won't protect you, and now is the time to pivot. His advice is to <a href="https://www.benzinga.com/money/is-gold-a-good-investment">own gold</a>, <a href="https://www.benzinga.com/money/how-to-invest-in-silver">silver</a> and <a href="https://www.benzinga.com/money/crypto/bitcoin">Bitcoin</a>.
See Also: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wiseradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation.&nbsp;</a>
<h2 class="wp-block-heading">Entrepreneurship Over Job Security</h2>
Kiyosaki has also <a href="https://www.benzinga.com/news/25/04/44886845/robert-kiyosaki-says-millions-could-be-out-of-work-heres-his-game-plan">voiced concern</a> about the rapidly changing job market. In April, he <a href="https://x.com/theRealKiyosaki/status/1912508493338157069">posted</a>: &#8220;In the last two years&#8230; millions have lost their jobs. In the next few years&#8230; millions more will lose their jobs.&#8221;
He recommended that those feeling uncertain about their employment prospects start preparing now. &#8220;Turn a bad event to a great opportunity to stop being an employee clinging to job security and <a href="https://www.benzinga.com/general/entrepreneurship/24/05/38847195/want-to-start-a-business-now-might-be-the-best-time-for-startups-in-decades">become an entrepreneur</a> working for financial freedom,&#8221; he wrote.
He also floated the idea of joining a network marketing company as a low-cost way to gain entrepreneurial experience, acknowledging that the path comes with risks like rejection and income instability.
Whether or not you agree with his approach, Kiyosaki remains consistent: invest in yourself, question conventional financial advice, and prepare for a future that may look very different from the past.
Read Next: <a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.
Image: Shutterstock

Robert Kiyosaki Calls AI The 'Biggest Change In Modern History.' He Warns You Need To Take Proactive Action To Avoid Becoming A 'Victim'

In a bid to curb semiconductor smuggling into China, the US government is considering restrictions on the export of AI chips, including those produced by&nbsp;Nvidia Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), to Malaysia and Thailand.
What Happened: According to a report, a&nbsp;draft rule from the Commerce&nbsp;Department is aimed at preventing China, which has been effectively barred from purchasing advanced AI processors from Nvidia, from acquiring these&nbsp;components through intermediaries in the&nbsp;two Southeast Asian countries. 
The rule is still under consideration and may undergo changes.
The US officials plan to couple the controls on Malaysia and Thailand with a formal withdrawal of global restrictions&nbsp;from the so-called AI diffusion&nbsp;rule, which had faced resistance&nbsp;from US allies and tech&nbsp;companies, including Nvidia.
This proposed rule marks the first formal step in Trump&#8217;s promised overhaul of his predecessor&#8217;s AI diffusion approach, <a href="https://www.bloomberg.com/news/articles/2025-07-04/us-plans-ai-chip-curbs-on-malaysia-thailand-over-china-concerns?srnd=homepage-asia">reports</a> Bloomberg.
However, it does not provide a comprehensive replacement, leaving open&nbsp;questions about security conditions for&nbsp;the use of US chips&nbsp;in overseas data centers.
Also Read: <a href="https://www.benzinga.com/news/24/09/41082667/heres-why-china-is-urging-its-companies-to-forgo-nvidias-chips">Here&#8217;s Why China is Urging Its Companies to Forgo Nvidia&#8217;s Chips</a>
The Commerce Department did not&nbsp;respond to a request for&nbsp;comment, and Nvidia declined to comment. The Thai and Malaysian governments also did not respond.
Why It Matters: The US has been grappling with the question of which countries should be allowed&nbsp;to import American AI chips&nbsp;and under what conditions. 
The fear is that once these&nbsp;semiconductors leave American and allied&nbsp;shores, they could potentially end up in China or benefit Chinese AI companies via&nbsp;remote access to data centers&nbsp;outside China. 
This move is part of a broader strategy to protect US technology and intellectual property from potential misuse.
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NVDA

US Plans To Restrict AI Chip Exports to Malaysia, Thailand To Curb Diversion to China

Valdez &#8220;V.J.&#8221; Edgecombe Jr., a young basketball player who once lived without electricity for seven years, is now on the verge of signing a contract worth $50.4 million.
What Happened: Edgecombe,&nbsp;the No. 3 pick in&nbsp;the 2025 NBA Draft, is expected to sign a lucrative contract with the Philadelphia 76ers soon. 
The 19-year-old shooting guard comes from Bimini, a tiny&nbsp;island chain in The Bahamas, where he and his family grappled with basic necessities like food and electricity.
&#8220;I ain&#8217;t have no electricity&nbsp;— I lived off a&nbsp;generator for seven years,&#8221; Edgecombe shared&nbsp;in an interview <a href="https://www.tiktok.com/@bleacherreport/video/7520281486017285406">with</a> NBA&nbsp;TV. He attributed his success to his single mother, saying,&nbsp;&#8220;Seeing what she had to&nbsp;go through to feed us?&nbsp;It&#8217;s crazy.&#8221;
While Edgecombe has not yet finalized&nbsp;a contract with the 76ers, NBA rookie contracts are determined by draft position. The No. 3 slot carries&nbsp;a maximum contract of $50.4&nbsp;million over four years, including&nbsp;two team option years.
Edgecombe, who played&nbsp;at Baylor University for one&nbsp;season, has already signed name, image,&nbsp;and likeness (NIL) deals with&nbsp;companies including PSD Underwear and&nbsp;Panini America. He also recently formed a partnership with Adidas.
Also Read: <a href="https://www.benzinga.com/news/25/05/45338404/charlie-mungers-financial-success-advice-i-avoided-standard-ways-of-failing-because-my-game-in-life-was-always-to-avoid-all-standard-ways-of-failing">Charlie Munger&#8217;s Financial Success Advice: &#8216;I Avoided Standard Ways Of Failing, Because My Game in Life Was Always To Avoid All Standard Ways of Failing&#8217;</a>
Despite his potential earnings, Edgecombe has already contributed to his community, offering scholarships to his former school in The Bahamas, Gateway Christian Academy.
&#8220;I came to America to&nbsp;play basketball, knowing I&#8217;ve got&nbsp;to feed my family and&nbsp;all of that. That&#8217;s definitely&nbsp;helped me and the person&nbsp;that I am right now.&nbsp;Just work harder than everybody&nbsp;else,&#8221; Edgecombe expressed.
Why It Matters: Edgecombe&#8217;s journey from a life of hardship to the brink of an NBA contract is not just inspiring, but also highlights the transformative power of sports. 
His story serves as a beacon of hope for young athletes facing similar adversities. Furthermore, his early philanthropic efforts underscore the potential of sports figures to drive positive change in their communities.
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Sports

Success Stories

Once Powerless, Now Priceless: V.J. Edgecombe's Journey From No Electricity to $50.4M NBA Future

There might be another compelling reason to visit Costco (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>), aside from its affordable pizza and industrial-sized condiments. The much-loved bulk wholesaler is entering the <a href="https://www.benzinga.com/markets/large-cap/25/06/45768838/rivian-evs-just-got-smarter-new-app-tracks-energy-use-and-speeds-up-charging">EV charging</a> business and recruiting SpaceX engineers to help them achieve it.
According to electric vehicle news site <a href="https://electrek.co/2025/06/19/spacex-alums-just-supercharged-ev-charging-at-costco/">Electrek</a>, Costco will open its first EV charging stall at its Northport, Florida location in conjunction with an electric charging company Electric Era. If it were to implement the practice nationwide, it could significantly impact electric car sales in the U.S.
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<h2 class="wp-block-heading">Using SpaceX Engineers For Fast EV Charging</h2>
One of the drawbacks to EV adoption in the U.S. is the limited charging infrastructure and slow charging speeds. That's why the big box warehouse has collaborated with Electric Era, which was founded by former SpaceX engineers. The company provided Costco with six EV fast-charging stalls in just 54 days, according to Elektrek, capable of charging most car and SUV batteries in 20-60 minutes, just enough time to fill a shopping cart full of jumbo-sized groceries and fill a prescription or two.&nbsp;
<h2 class="wp-block-heading">Trump's Cut In EV Charging Funding Was A Major Blow</h2>
Electric vehicle sales have been steadily rising in the U.S., but President Donald Trump's decision to <a href="https://www.theguardian.com/us-news/2025/feb/07/trump-electric-vehicle-charging-station-program">cut funding for new EV charging infrastructure</a> was a significant drawback for EV adoption in the U.S. Bloomberg reduced its expectations for installations from 360,000 to 285,000 units.
"If we continue in this direction, [<a href="https://www.bloomberg.com/news/articles/2025-05-20/trump-s-attacks-evs-as-charging-installations-drop?embedded-checkout=true">BloombergNEF</a>'s] outlook for annual US charger installations in 2030 could be adjusted downward by 30% or more,"<a href="https://www.bloomberg.com/news/articles/2025-05-20/trump-s-attacks-evs-as-charging-installations-drop?embedded-checkout=true"> Bloomberg analyst Ash Wang</a> said, pointing to a possible long-term impact if the current pace doesn't pick up.&nbsp;
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However, the question of infrastructure funding remains unresolved, after a federal judge recently ordered the Federal Highway Administration to<a href="https://www.independent.co.uk/news/trump-joe-biden-new-york-sacramento-district-of-columbia-b2776374.html"> resume distributing funds</a> to install EV chargers in 14 states.
<h2 class="wp-block-heading">Tesla Still Has A Monopoly On EV Charging</h2>
The lack of charging infrastructure in the U.S. beyond <a href="https://www.benzinga.com/markets/large-cap/25/06/46161226/gary-black-warns-tesla-q2-deliveries-will-disappoint-says-cheaper-models-could-cannibalize-sales-and-see-ideal-re-entry-22-below-current-levels">Tesla</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) chargers has made many drivers<a href="https://evxl.co/2025/05/27/ev-buyers-hesitate-costs-charging-woes/"> hesitant to buy EVs</a>. However, installing fast chargers at grocery stores has proven to be a winning strategy, with retailers turning a profit on charging stations for the first time since installing them, according to<a href="https://evchargingsummit.com/blog/7-mind-blowing-developments-in-ev-charging-in-2025/"> EV Charging Summit</a>. Thus, it makes sense for Costco to take action with their nationwide reach and massive popularity. As of June 15, there were <a href="https://www.costco.com/WarehouseListByStateDisplayView">630 Costco warehouses</a> in the U.S.
<h2 class="wp-block-heading">Tesla And EV Adoption</h2>
Despite Tesla CEO Elon Musk's flirtation with politics, Tesla is by far the most popular EV car manufacturer in the U.S., according to<a href="https://cleantechnica.com/2025/04/15/auto-brands-leading-the-us-ev-revolution-charts/"> CleanTechnica</a>. Its fast chargers limit charging times and are in strong demand, which is why it <a href="https://www.consumerreports.org/cars/hybrids-evs/tesla-superchargers-open-to-other-evs-what-to-know-a9262067544/">has partnered</a> with Hyundai, Kia, Chevrolet, Cadillac, Honda, Acur, and others to allow them to use their chargers with the use of an adapter. This is particularly useful for EV car owners who don't have a home charger. Costco's vast parking lots could become an essential component in winning the EV charging battle.&nbsp;
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Costco's EV Charging Has Been Developed By SpaceX  Engineers — Its Low Prices Could Usher In A New Wave Of Car Buyers

In a landmark move, California&#8217;s lawmakers have exempted most urban housing&nbsp;development from the California Environmental&nbsp;Quality Act (CEQA), potentially transforming the landscape of housing development in the state.
A long-standing political struggle between housing developers and advocates of California&#8217;s primary environmental law has likely reached a resolution with the approval&nbsp;of a state budget-related housing&nbsp;bill. 
This new legislation makes CEQA inapplicable to a significant portion&nbsp;of urban residential development in&nbsp;the state.
According to reports, the implications of this development are far-reaching. Most&nbsp;new apartment buildings will no&nbsp;longer face threats of environmental litigation. Urban developers will no longer need to assess, predict, and mitigate potential impacts of new housing on&nbsp;local traffic, air pollution, flora&nbsp;and fauna, noise levels, groundwater&nbsp;quality, and objects of historical or archaeological significance.
Assemblymember Buffy Wicks, an Oakland Democrat who introduced the CEQA law as a separate bill in March, said to Cal Matters, &#8220;Saying &#8216;no&#8217; to housing in my community will no longer be state sanctioned.&#8221;
She added that while this won&#8217;t solve all housing issues in the state, it will eliminate the most substantial hurdle to building environmentally friendly housing.
Also Read: <a href="https://www.benzinga.com/personal-finance/financial-advisors/25/04/44890729/homes-prices-slashed-in-certain-markets">Homebuilders Are Slashing Prices — But Only In Certain Markets</a>
The new law states that urban &#8220;infill&#8221; housing developments — housing constructed&nbsp;in and around existing development&nbsp;— are no longer subject&nbsp;to CEQA. There are a few exceptions and qualifiers, but they are considered relatively minor by development advocates.
The bill applies&nbsp;to projects under 20 acres,&nbsp;mainly affecting large&nbsp;multi-block-spanning mega developments. A certain&nbsp;level of density is required,&nbsp;effectively excluding&nbsp;the policy for single-family home&nbsp;construction. 
Before any project can&nbsp;proceed, affiliated tribal governments must be notified,&nbsp;but the consultation is put&nbsp;on a short timeline. To&nbsp;qualify for the exemption, a&nbsp;proposed project must also comply with local zoning regulations.
Gov. Gavin Newsom (D), who spent much of last week persuading the Legislature to pass the bill as part of his budget package, signed it last week. The key question now is whether this significant political and policy shift will result in more homes being built in California&#8217;s cities.
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California Urban Housing Development Exempted From CEQA: A Game Changer?

It's no secret that investing can be stressful, <a href="https://www.benzinga.com/news/25/05/45185944/warren-buffett-shares-surprising-advice-for-young-investors-and-its-not-about-stocks-who-you-associate-with-is-just-enormously-important">but for younger investors</a>, that pressure may be building faster than expected. Despite having more time to weather market cycles, many investors under 35 report feeling financially insecure, dissatisfied and uncertain about their financial future.
A recent <a href="https://www.investopedia.com/survey-shows-stress-compounds-among-young-investors-4685903">survey</a> conducted by Janus Henderson, the Financial Planning Association, and Investopedia set out to measure stress levels among both investors and financial advisors. The results showed clear generational differences. Investors under 35 were far more likely to say they're struggling to get ahead financially. Many reported earning just enough—or not enough—to cover basic expenses, which leaves little room for saving or investing.
Major factors <a href="https://www.benzinga.com/topic/student-debt">like student debt</a>, flat wage growth and economic aftershocks from the 2008 financial crisis seem to be contributing the most. While unemployment has declined in recent years, wages for younger workers haven't kept pace. Inflation-adjusted starting salaries for college grads still lag behind pre-crisis levels, and that gap may be shaping how younger investors think about their finances.
The stress isn't limited to money. Many younger respondents said financial pressure spills into their day-to-day lives, affecting their mood, focus and ability to make decisions. Research suggests that long-term stress can actually impair the brain's ability to weigh risk or adapt to changing circumstances, which could influence financial behavior over time.
Still, the survey offered one encouraging takeaway. Investors of all ages who had a written financial plan and <a href="https://www.benzinga.com/money/what-is-financial-planning">set long-term goals</a> reported lower levels of stress overall. While a plan may not solve every issue, it appears to offer some reassurance, especially for those in the earlier <a href="https://www.benzinga.com/money/asset-allocation-by-age">stages of building wealth</a>.
As economic trends continue to shift, tools that promote planning and clarity may become even more important for younger investors looking to feel more secure.
Photo: Shutterstock

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