Lesaka Technologies 株価情報 (NASDAQ: LSAK)

Lesaka Technologies (NASDAQ:LSAK) 株価情報

Lesaka Technologies

Lesaka Technologies Inc provides payment solutions, transaction processing solutions, and financial technologies. The company operates two reportable segments: Merchant and Consumer. The company operates mainly within South Africa. The Merchant segment that derives majority revenue includes activities related to the provision of goods and services provided to corporate and other juristic entities. It earns fees from processing activities performed for its customers and revenue generated from the distribution of prepaid airtime. The Consumer segment includes activities related to the provision of financial services to customers, including bank accounts, loans, and insurance products. The firm charges monthly administration fees for all bank accounts.

Lesaka Technologies Inc

In a world where work is increasingly mobile, digital, and privacy-conscious, INAIR is redefining how we engage with technology through the lens of augmented reality. As CEO of INAIR—the AR glasses brand under Beijing Duoping Future Technology Co., Ltd.—Kurt Huang is leading the charge to create next-generation, all-in-one AR computing solutions that are portable, efficient, and deeply intuitive.
Since its founding, INAIR has launched two generations of AR hardware that have received both critical acclaim and commercial success on platforms like JD.com and Tmall. Under Kurt&#8217;s leadership, the company is not only delivering sleek and high-performance AR devices but also pushing the boundaries of how immersive hardware can empower people to work more freely and securely.
With a founding team drawn from top internet and tech firms, and with deep expertise in AR software, hardware, and product development, INAIR is positioning itself as a frontrunner in the global race toward a more connected, productive future.
Benzinga's <a href="https://www.benzinga.com/author/bibhu-pattnaik">Bibhu Pattnaik</a> spoke with Huang, who shared his vision for the future of AR in the workplace, what distinguishes INAIR in the growing wearables market, and how the company is redefining the next generation of computing. Here's an excerpt from the interaction. 
What inspired the creation of INAIR, and how did your past experience in AI and system architecture shape its foundation?
We founded INAIR stemming deep insight into the evolution of technology and user needs. During my graduate studies in computer science at Tsinghua University, I focused on distributed systems and heterogeneous computing architecture. I also had stints at Broadcom and Intel where I led the development of multiple generations of chip platforms, overseeing hardware, software, and system-level R&amp;D. In 2016, as AR technology began to mature, I saw the huge potential for practical applications of this technology. That&#8217;s when I began focusing solely on the AR industry.&nbsp;
As the XR (extended reality) market later emerged and fell into the trap of prioritizing extreme displays over interaction, I saw how devices pursued ever-more impressive display specs at the expense of comfort and wearability, or they piled on AI features while neglecting seamless contextual use. This droves us to rethink the entire technology stack using a full-stack mindset. We built a proprietary distributed rendering engine and spatial-awareness algorithms for industry-leading real-time rendering. By deeply integrating cross-device heterogeneous computing (collaboration between phone, PC, and cloud) with natural interaction protocols (gaze, touch, and voice), we ultimately created the world's first Spatial Native Operating System – INAIR OS.
The essence of INAIR is to let technology evolve from being "used" to being "forgotten."
In a rapidly evolving AR landscape, what distinguishes INAIR's Spatial Computer from other solutions on the market?
We are at a turning point in the AR industry, moving from flashy tech demonstrations to deeply integrated real-world scenarios. INAIR is different in three main ways: a focus on different scenarios, system re-architecture, and ecosystem elevation.
Early AR glasses often relied on enterprise (B2B) customers to survive. After 2022, AR glasses saw success in consumer entertainment and video-watching scenarios. But by 2024-2025, differentiation and user experience improvements in entertainment had reached a plateau. We believe AR's next frontier is mobile productivity, providing a lightweight, powerful solution for work on the go, not just entertainment.
Many competing AR devices have app ecosystems that don't work across platforms, prohibiting data transfer. We addressed this with what we call a Spatial Native Architecture to reconstruct the tech stack. We adopted a modular design. The glasses themselves weigh just 77 grams, making them comfortable for all-day wear. They feature a continuously adjustable electrochromic tint (privacy mode) that users love. The compute unit (the "pod") is about the size of a computer mouse, yet packs extremely powerful performance.
We developed our own INAIR OS, which is compatible with Android, iOS, Windows, and Mac ecosystems. Data flows seamlessly across devices. We also include a built-in AI agent that proactively predicts user needs and understands context to provide intelligent responses and assistance.
The entire user interface is in 3D. Users interact naturally using gaze, touch (via our Touchboard accessory), and voice. This depth in interaction makes the experience much more intuitive than traditional 2D screens.
What were some of the key technological or design challenges you faced during the development of INAIR, and how did your team overcome them?
Developing INAIR meant tackling three seemingly contradictory challenges: making the device extremely light but extremely powerful; making interaction very natural yet very precise; and keeping the technology cutting-edge butbroadly accessible.
Demand for lightweight design is paramount as users seem to notice every gram. High-performance computing, however, naturally brings high power consumption, heat, and weight. We had to innovate across the full spectrum, from materials to chip design. For example, out of hundreds of materials, we selected a magnesium-aluminum alloy that allowed us to shave 1.5 grams of weight – a significant achievement at this scale. We also used a modular (split) design, separating the display glasses from the compute pod, enabling the glasses to stay light and comfortable.
Traditional AR devices rely on voice commands or handheld controllers, prohibitive for quick input – especially in a work environment. We realized that for productivity use cases, a keyboard is essential. Therefore, we designed a custom accessory called the INAIR Touchboard. It combines a full-size keyboard with spatial interaction capabilities. This ensures instant, continuous productivity with a natural feel.
One of INAIR's standout features is its seamless integration with Android apps and PC systems—how important was this interoperability in your product vision?
Interoperability is the soul of our product. Our lives are already filled with smartphones, laptops, tablets and other tech devices. Nobody wants to add AR glasses that just create more hassle. The real value comes from seamless integration.
For example, imagine you're on a business trip and get a message from your boss on your phone. With our glasses, you could instantly stream your office computer, open the needed document, and send the file – all without fumbling between devices. This kind of effortless, seamless connectivity is exactly what users need. That's why from day one, we made it a top priority to break down barriers between the Android, iOS, Windows, and Mac ecosystems.
INAIR's native remote streaming technology promises a new kind of productivity—can you elaborate on how this enhances the user experience?
Our remote streaming technology is essentially a "spatial decoupling" of compute power that lets you tap into the most suitable hardware from anywhere. Here's an example: you can leave your laptop at the office or home and travel with only the INAIR glasses and the mouse-sized compute pod. Using our proprietary INAIR OS, the glasses can wirelessly connect to your laptop thousands of miles away, bringing your desktop into the AR space in front of you. At the same time, the local compute pod handles lighter tasks like video conferencing. If you pair a Bluetooth keyboard, you have a full input setup, often with a more seamless experience than if you were using the laptop alone.
What's truly revolutionary is the way this changes ownership of computing power. In the future, you could leave your top-tier GPU at home, and write code on a beach wearing our glasses, with heavy lifting done in the cloud. INAIR is turning "computing freedom" into a basic right for the modern digital nomad.
How has user feedback influenced product iterations, and what insights have surprised or challenged your initial assumptions?
Users are increasingly hungry for immersive 3D experiences. From movies to apps, flat 2D content just doesn't satisfy them anymore. They want to use mature AR hardware (like glasses) to consume and interact with 3D content. For example, spatial videos shot on an iPhone can now be watched on INAIR, and those old 2D photos sitting in your photo album can be converted into 3D views with a single click.
Users aren't happy with just "it works". They expect "imperceptible switching" between tasks and devices. This means we have to constantly improve latency and responsiveness.
Today's large AI models are powerful, but they're often not user-friendly. Many AI apps (like DeepSeek or ChatGPT) just present a simple text box, and different apps each have their own AI assistant, leading to siloed experiences. INAIR's approach is to bake AI capability into the system layer so that you get a unified, intuitive experience no matter what software you're using.
As spatial computing gains traction, how do you see INAIR contributing to or redefining this new computing paradigm?
Our mission is to bring AI+AR technology paradigm shift to mobile productivity. And expect to create a future where work is no longer confined by screens or locations, empowering everyone to collaborate effortlessly in a seamless blend of the physical and digital worlds.
With global expansion on the horizon, what markets are you most focused on?
The North American and European markets are at the core of our global strategy. This decision is based on INAIR&#8217;s own technological layout, scenario adaptability, and long-term market insights.
Users in North America and Europe are highly receptive to cutting-edge technologies, especially the demand of the combination of "lightweight, portable computing" and "high performance." People in these regions have strong needs for working from home and flexible work setups, and they aspire to a liberated, location-independent way of working. This vision aligns closely with INAIR's philosophy.

News

Tech

Interview

Inair Is Turning 'Computing Freedom' Into a Basic Right for the Modern Digital Nomad, Says CEO Kurt Huang

In a fast-evolving landscape where tech giants race to outdo each other with feature-heavy AI and AR glasses, Shenzhen-based startup Even Realities is taking a bold, minimalist stance. Founded in 2023 by industry veteran Will Wang, Even Realities focuses on what truly matters: comfort, simplicity, and essential functionality. The company&#8217;s debut product, Even G1, is a lightweight digital eyewear that forgoes cameras and onboard audio, instead offering intuitive, heads-up information like notifications and translations—blending effortlessly into daily life.
At the helm is Will Wang, CEO &amp; Founder of Even Realities, whose deep experience spans Apple, Anker, Oppo, and JMGO. A driving force behind the development of the iPhone, Apple Watch, and revolutionary smart projectors, Will brings a rare combination of design vision and manufacturing expertise. Now, with Even Realities, he is blending traditional eyewear craftsmanship with cutting-edge consumer tech to deliver a new standard in digital eyewear—one that is elegant, practical, and ready for real-world use.
In this interview with Benzinga, Will shares his journey, vision, and why he believes less can truly be more in the future of wearable technology.
What key leadership lessons have you carried from Apple to Even Realities?
Many Chinese companies tend to follow a competition-driven approach. They identify a successful product in the market—like the iPhone—and aim to build a cheaper or more powerful version of it, setting it as their benchmark. From my experience at Apple, the key is to focus on the fundamentals: understanding why people truly need the product, rather than simply reacting to what's already out there.
In the smart eyewear industry, for instance, many companies look at Meta as the market leader and try to replicate or improve upon what they're doing. However, the real question is: is that the right approach for the customer? Instead of just focusing on competition, it's crucial to define your own product by going back to the fundamentals—identifying what truly solves the customer's needs and delivering an experience that meets those needs in the best possible way.
What inspired you to merge traditional eyewear with advanced tech?
When it comes to smart glasses, the foundation should be a great pair of traditional eyewear—something people actually want to wear daily. If the glasses aren't comfortable, stylish, or practical without being powered on, they won't succeed. Many earlier attempts, like Google Glass, failed because they ignored these fundamentals—people didn't feel comfortable or natural wearing them.
Some newer products, like Meta's Ray-Ban glasses, are closer, but they still have limitations. Ray-Ban focuses on sunglasses, not everyday prescription wear, and features like built-in cameras raise privacy concerns. For smart glasses to truly work, they must look and feel like regular eyewear—while quietly adding useful tech features.
How is innovating in eyewear different from your work in smart projectors?
The core technology behind our smart glasses is deeply rooted in optical display systems—similar to those used in projectors. What we're essentially building is a miniaturized projector, using micro projectors and waveguide displays to create a private, high-resolution visual experience that only the wearer can see. This concept draws heavily from our previous experience in designing smart projectors, and much of the knowledge around optical design, supply chain management, and component engineering has carried over.
What sets this apart, though, is the challenge of miniaturization. With projectors for home use, there's more flexibility—size and weight aren&#8217;t critical. But with wearable tech, especially something that sits on your face, every millimetre and every gram makes a difference. That pushed us to refine the technology down to its smallest, lightest, and most efficient form—without sacrificing display sharpness or performance.
This is where our experience really paid off, allowing us to develop what we believe is one of the most advanced and compact micro-display technologies in the market today—enabling a product that feels natural to wear while still delivering a powerful visual experience.
How does your design approach at Even Realities differ from Apple or Oppo?
While Google was among the first to introduce the concept with Google Glass, they didn't fully respect the fundamentals of the traditional eyewear industry. They reimagined glasses through a tech-first lens but overlooked key elements like design, fit, and the importance of prescription integration.
Eyewear has centuries of history, and experienced designers know which shapes suit different face types. That knowledge can&#8217;t be ignored if you want people to actually wear your product. For most users, glasses are first and foremost a prescription tool—so if you&#8217;re adding a display, it must coexist seamlessly with prescription lenses. That's an area where earlier attempts fell short, and it's something we've worked hard to get right.
Which user segments are you targeting first, and why?
Right now we actually have two user groups.&nbsp;One is still the tech enthusiasts. Obviously, they like new tech and they see new tech products coming out with the state-of-the-art technology. They are the first ones to get it and to try it out.
But the second, actually bigger audience for us that are purchasing our product, they are actually top working professionals. They could be company executives.&nbsp;They could be doctors. They could be lawyers. They could be professors, college professors.&nbsp;They are actually more and more people like them using our product. Because at the end of the day, this is actually not a gadget for fun. It&#8217;s actually a working tool.
There&#8217;s one feature that got added a couple months ago based on requests from the people. With our glasses, you actually can turn the transcription down and then you actually can see the subtitle.
How are you leveraging your supply chain and design experience to scale?
A successful hardware business depends heavily on supply chain management—something often overlooked. My background is in mechanical engineering and operations research, and I started my career managing supply chains at Apple. One key lesson is choosing the right vendors at the right stage of growth—there's no one-size-fits-all solution.
Strategic, long-term relationships with key vendors are crucial, especially for innovation. When we developed our first product, we faced major challenges with light pass-through in lenses. Most were below 80%, while top-quality lenses like Zeiss or Essilor exceed 98%. We aimed to match that level, despite adding multiple functional layers. By carefully selecting materials, coatings, and optical designs, we solved the issue—layer by layer.
When did you launch the product, and what's the current market value, expansion plan, and break-even outlook?
The company was founded in September 2023, and we launched our product in August last year. Thanks to a strong team of industry veterans from Apple, Samsung, and Microsoft, we went from concept to market quickly. Since launch, demand has exceeded expectations—driven in part by influential users who've become unofficial ambassadors.
Sales have been strong across Europe and North America, with recent expansion into Asia, including Hong Kong and Singapore. Most sales come directly from our website, while offline retail is focused on top-tier optician shops—about 300 across Europe.
We&#8217;re committed to staying ahead in innovation, with a strong product roadmap. A new version is coming later this year, followed by a third-generation release next year. Our goal is to bridge the gap between the digital and real world, addressing the imbalance many feel with current tech.
And we think making a pair of smart eyewear, that&#8217;s the perfect way to regain the balance for physical and digital. To help you keep your eyes still on the real world while still being able to absorb the information digitally. So that comes giving them even realities. To find the balance point for physical and digital realities and make both realities even.

Will Wang: With Even Realities Eyewear We Try To Find the Balance Point for Physical and Digital Realities, and Make Both Realities Even

The Trump administration has intensified its critique of Europe's digital regulations, asserting that they pose a risk to free speech <a href="https://www.benzinga.com/25/05/45466937/us-targets-european-digital-rules-in-free-speech-campaign-defending-american-big-tech" target="_blank" rel="noreferrer noopener">and American commercial interests</a>.
The Trump administration forged a preliminary deal with the United Arab Emirates involving importing 500,000 of&nbsp;Nvidia Inc.'s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/government/regulations/25/05/45441791/nvidia-scores-big-as-trump-brokers-major-ai-export-pact-with-uae-and-us-tech-giants" target="_blank" rel="noreferrer noopener">advanced AI chips&nbsp;annually</a>.
Senate Minority Leader&nbsp;Chuck Schumer&nbsp;(D-N.Y.) warned that President&nbsp;Donald Trump&#8217;s&nbsp;support for exporting sensitive U.S. artificial intelligence chip&nbsp;technology to <a target="_blank" href="https://www.benzinga.com/25/05/45459318/chuck-schumer-blasts-trump-for-backing-ai-chip-sales-to-saudi-arabia-uae-warns-deal-risks-us-tech-secrets-falling-into-chinas-hands" rel="noreferrer noopener">Persian Gulf allies&nbsp;could benefit China</a>.
Automobiles &amp; EV
Future Fund LLC&#8216;s&nbsp;Gary Black&nbsp;believes&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) as well as&nbsp;Uber Technologies Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) will benefit from increased EV adoption as well as <a href="https://www.benzinga.com/markets/equities/25/05/45341220/top-bull-gary-black-shares-why-he-is-holding-on-to-uber-and-tsla-our-investment-thesis-on" target="_blank" rel="noreferrer noopener">growth in Autonomous Driving</a>.
Uber announced it has partnered with peer-to-peer car-sharing company&nbsp;Turo&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TURO#NYSE">TURO</a>) to upgrade the&nbsp;Uber Rent <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45450623/whats-going-on-with-uber-stock-on-thursday" target="_blank" rel="noreferrer noopener">experience for users in the U.S</a>.
Future Fund LLC&#8217;s managing director,&nbsp;Gary Black,&nbsp;has shared his thoughts on&nbsp;Pony AI&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PONY#NASDAQ">PONY</a>)&nbsp;stock as the Chinese AV company gears up for the quarterly results slated <a href="https://www.benzinga.com/tech/25/05/45345942/gary-black-weighs-in-on-pony-ais-growth-ahead-of-earnings-report-a-recently-announced-partnership-with-uber" target="_blank" rel="noreferrer noopener">to be released next Tuesday</a>.
Tesla has touted the company&#8217;s FSD (Full Self-Driving) technology ahead of next month&#8217;s <a target="_blank" href="https://www.benzinga.com/tech/25/05/45342188/elon-musks-tesla-teases-fsd-capabilities-ahead-of-june-robotaxi-event" rel="noreferrer noopener">Robotaxi launch in Austin, Texas</a>.
Tesla battery supplier&nbsp;Contemporary Amperex Technologies Co. Ltd., plans to raise over $4 billion through a stock listing <a target="_blank" href="https://www.benzinga.com/25/05/45343633/tesla-battery-supplier-catl-to-raise-4-billion-through-hong-kong-listing-report" rel="noreferrer noopener">on Hong Kong&#8217;s stock exchange</a>.
Technology &amp; Telecommunications
Cisco (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) reported quarterly earnings of 96 cents per share, which beat the analyst consensus estimate of 92 cents and revenue of $14.15 billion, which beat the <a href="https://www.benzinga.com/news/earnings/25/05/45422303/cisco-shares-climb-after-q3-eps-revenue-beat-estimates-details" target="_blank" rel="noreferrer noopener">Street estimate of $14.08 billion</a>.
Samsung Electronics Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>)&nbsp;launched the&nbsp;Galaxy S25 Edge, a 5.8 mm-thin, 163-gram smartphone, just four months after unveiling <a href="https://www.benzinga.com/25/05/45366293/samsung-unveils-ultra-thin-galaxy-s25-edge-in-surprise-launch-amid-slowing-demand-and-tariff-uncertainty-apple-reportedly-plans-to-catch-up-in-september" target="_blank" rel="noreferrer noopener">the rest of the S25 series</a>.
Nvidia is reportedly expanding its research footprint in China with a new Shanghai-based R&amp;D center, signaling a strategic push to retain AI dominance in the region <a href="https://www.benzinga.com/media/25/05/45460918/jensen-huang-led-nvidia-plans-new-shanghai-research-hub-to-stay-competitive-in-china-as-us-export-curbs-threaten-ai-chip-sales-report" target="_blank" rel="noreferrer noopener">amid tightening U.S. export restrictions</a>.
Broadcom Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) announced significant advancements&nbsp;in its co-packaged optics (CPO) technology on Thursday, with the launch of its third-generation 200G per lane <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45448759/broadcom-unveils-next-gen-optical-chip-tech-to-power-ai-data-centers" target="_blank" rel="noreferrer noopener">(200G/lane) CPO product line</a>.
Sony&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) launched on Thursday an upgrade&nbsp;for its wireless noise-cancelling <a href="https://www.benzinga.com/media/25/05/45469713/sonys-new-wh-1000xm6-headphones-use-ai-to-adapt-sound-in-real-time-heres-whats-new" target="_blank" rel="noreferrer noopener">headphones,&nbsp;called the WH-1000XM6</a>.
Smartphones
Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly developing a new artificial intelligence-powered <a href="https://www.benzinga.com/25/05/45367075/apple-reportedly-leans-on-ai-to-solve-iphone-battery-woes-in-ios-19-update-ahead-of-thinner-iphone-17-launch-this-fall" target="_blank" rel="noreferrer noopener">battery optimization tool for</a><a href="https://www.benzinga.com/25/05/45367075/apple-reportedly-leans-on-ai-to-solve-iphone-battery-woes-in-ios-19-update-ahead-of-thinner-iphone-17-launch-this-fall" target="_blank" rel="noreferrer noopener">&nbsp;iOS 19</a>.
Apple has reassured the Indian government of its commitment to continue&nbsp;using India as a major&nbsp;manufacturing base. This assurance comes despite Trump's recent remarks, with government sources emphasizing that there is "no change" <a target="_blank" href="https://www.benzinga.com/markets/25/05/45462006/no-change-in-apples-production-plans-says-india-despite-trumps-little-problem-with-ceo-tim-cook-report" rel="noreferrer noopener">in Apple's investment plans in India</a>.
Also Read:<a target="_blank" href="https://www.benzinga.com/25/05/45339953/apple-exec-says-iphone-users-are-ditching-google-search-now-chamath-palihaptiya-urges-the-tech-giant-to-stop-waiting-for-data-and-start-fighting-models-like-chatgpt" rel="noreferrer noopener"> </a><a target="_blank" href="https://www.benzinga.com/25/05/45339953/apple-exec-says-iphone-users-are-ditching-google-search-now-chamath-palihaptiya-urges-the-tech-giant-to-stop-waiting-for-data-and-start-fighting-models-like-chatgpt" rel="noreferrer noopener">Apple Executive Says iPhone Users Are Ditching Google — Now Chamath Palihaptiya Urges The Search Giant To Stop Waiting For Data And Start Fighting Models Like ChatGPT</a>
Image: Shutterstock/Hepha1st0s

Equities

Large Cap

AAPL

AVGO

CSCO

NVDA

PONY

Sony Group Corporation American Depositary Shares

SONY

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TSLA

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UBER

Consumer Tech News (May 12-May16): Trump's Europe Critique Intensifies, UAE Gets Nvidia AI Chips, Apple To Stay In India & More

Audio recordings from then-President Joe Biden's 2024 interview with special counsel Robert Hur have surfaced publicly for the first time, reigniting debates over Biden's cognitive state <a href="https://www.benzinga.com/news/econ-s/25/05/45479078/moodys-downgrades-us-credit-rating-over-debt-deficit-concerns" target="_blank" rel="noreferrer noopener">during his final year in office</a>.
The details, published by Axios <a href="https://www.axios.com/2025/05/16/biden-hur-tape-special-counsel-audio" target="_blank" rel="noreferrer noopener">on </a>Friday, include moments where Biden pauses for extended periods and appears to struggle <a href="https://www.benzinga.com/news/23/10/35153213/president-joe-biden-reportedly-interviewed-by-special-counsel-over-classified-document-probe" target="_blank" rel="noreferrer noopener">with recalling specific dates and details</a>.
The audio release follows over a year after the transcript was made public as part of the classified documents investigation. Despite the transcript already being available, the audio adds new fuel to political narratives around the president's mental fitness, Politico reports.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/25/05/45185750/dont-piss-down-my-back-and-tell-me-its-raining-says-dave-portnoy-this-is-trumps-market-not-bidens" rel="noreferrer noopener">&#8216;Don&#8217;t Piss Down My Back And Tell Me It&#8217;s Raining,&#8217; Says Dave Portnoy—&#8217;This Is Trump&#8217;s Market, Not Biden&#8217;s&#8217;</a>
With the release coinciding with the upcoming publication of the book "Original Sin: President Biden's Decline, Its Cover-up, and His Disastrous Choice to Run Again," which scrutinizes Biden's alleged decline, Republicans have seized on the audio to reignite claims of a cover-up. Rep. Andy Ogles (R-Tenn.) called the incident the "coverup of the century" and referenced Biden's past access to nuclear codes, Politico adds.
Conservative advocacy groups like Judicial Watch and the Heritage Foundation had previously filed FOIA lawsuits demanding access to the audio.
While the Biden administration had signaled willingness to release the recordings, control over the files remained with the Department of Justice.
Speaking aboard Air Force One, President Donald Trump distanced himself from the release process, saying the matter was "up to Pam and the group," referring to Attorney General Pam Bondi.
Robert Hur concluded his investigation without recommending charges against Biden, noting that the president's recollections were incomplete but not criminal.
Biden previously insisted he did nothing wrong and dismissed criticism of his memory.
His case drew comparisons to Trump's separate classified documents case, which ended after Trump regained office and prosecutors dropped the charges, the report adds.
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Image: Shutterstock/Jonah Elkowitz

Politics

Markets

General

'Coverup of the Century'? Biden Interview Tape Adds Fire to GOP Claims

Thirteen years after Facebook's <a href="https://www.benzinga.com/markets/equities/23/05/32461106/if-you-invested-1-000-in-facebook-stock-at-ipo-11-years-ago-heres-how-much-youd-have-now">IPO, its journey from</a> a Harvard University dorm room to a $1.6 trillion behemoth underscores just how far it has come, especially when compared to early rival Orkut, which 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/GOOGL#NASDAQ">GOOGL</a>) Google shut down in 2014.
What Happened: Facebook, now Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), went public on May 18, 2012, pricing shares at $38 each and raising over $16 billion.
The IPO valued the company at $104 billion, the largest ever at the time for a newly listed U.S. firm. The debut was rocky, but over the years, Facebook scaled rapidly through product innovation, strategic acquisitions like Instagram and a dominant ad business.
See Also: <a href="https://www.benzinga.com/markets/25/05/45160454/mark-zuckerbergs-meta-targets-1-4-trillion-revenue-from-generative-ai-by-2035-court-filing-reveals">Mark Zuckerberg&#8217;s Meta Targets $1.4 Trillion Revenue From Generative AI By 2035, Court Filing Reveals</a>
While Facebook soared, Orkut—a social media site launched just weeks before Facebook in January 2004 by a Turkish Google engineer named Orkut Büyükkökten—failed to gain global traction. Google officially shut it down in 2014.
Google officially shut down Orkut on Sept. 30, 2014, primarily because of its declining user base and slower growth compared to emerging social media giants like Facebook.
Despite enjoying strong popularity in countries such as India and Brazil, Orkut failed to achieve widespread adoption in key markets like the U.S.
On the other hand, Facebook succeeded where early social networks like Friendster, MySpace and Orkut failed by growing slowly, building reliable technology, learning from others' mistakes and mastering PR.
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Rather than chasing fast expansion, the Mark Zuckerberg-led Facebook <a href="https://www.benzinga.com/news/24/05/38860816/mark-zuckerberg-recalls-his-childhood-and-facebooks-early-days-shares-top-8-memories-on-his-40th-bir">started with elite colleges</a>, focused on user experience, and gradually scaled up, all while maintaining a clean interface and robust infrastructure.
It smartly incorporated competitors' best features (like with TikTok), built a powerful ad model based on user targeting and used public relations to manage controversies and user trust—an approach that helped transform it into a $1.6 trillion global tech giant.
Previously, Zuckerberg also acknowledged that Facebook wasn&#8217;t built on a groundbreaking concept, but rather evolved from existing ideas in the social networking space.
"It's not like they had a lack of talent. I mean, we were like a ragtag group of children, and they had serious engineers and serious infrastructure."
So <a href="https://www.benzinga.com/news/24/08/40391576/mark-zuckerberg-explains-why-facebook-beat-google-microsoft-and-yahoo-who-were-fumbling-around-we-we">why did Facebook succeed</a> where tech giants stumbled?
"Large companies are slow. They lack conviction," Zuckerberg explained, suggesting that corporate hesitation held them back from fully embracing social networking.
"The reason is, people doubt new ideas before they come to fruition," he added. "The narrative with social networking was like, ‘Ah, it's just this college kid thing.'"
Why It's Important: Over the years, Facebook has <a href="https://www.benzinga.com/media/18/10/12440084/why-facebooks-recent-hack-is-much-worse-than-cambridge-analytica">faced multiple controversies</a>, from privacy scandals like Beacon and Cambridge Analytica to criticism over misinformation and data practices.
Still, the company adapted, eventually <a href="https://www.benzinga.com/general/education/24/10/41163360/if-you-invested-1-000-in-facebook-stock-when-mark-zuckerberg-changed-name-to-meta-heres-how-muc">rebranding as Meta in 2021</a> to reflect its metaverse ambitions.
Over the past five years, Meta shares have soared 205.33%, with a 36.06% gain over the last 12 months. Year-to-date, the stock is up 7.45%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Meta currently has a consensus price target of $704.19 based on ratings from 43 analysts. The highest target, $935, was issued by Tigress Financial on Feb. 11, 2025, while the lowest, $525, came from Scotiabank on April 21, 2025.
The three latest analyst ratings by RBC Capital, Morgan Stanley and JMP Securities indicate an average price target of $713.33, suggesting an 11.22% potential upside.
Meta holds a growth score of 76.06% in the Benzinga Edge Stock Rankings. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it compares to other top tech stocks</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/quote/META"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16021646/Screenshot-2025-05-16-at-11.46.41%E2%80%AFAM.png" alt="" class="wp-image-917464" /></a></figure>
Photo Courtesy: Koshiro K On Shutterstock.com
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/25/05/45421526/mark-zuckerberg-once-set-up-a-facebook-account-for-brooklyn-nine-nine-star-andy-samberg-then-persona">Mark Zuckerberg Once Set Up A Facebook Account For Brooklyn Nine-Nine Star Andy Samberg, Then Personally Played Tech Support When Things Went A Bit Haywire</a>
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

GOOG

GOOGL

Facebook Vs. Orkut: One Became Meta With A $1.6 Trillion Market Cap, The Other Was Shut Down By Google: Here's Why

The past weekend was a whirlwind of news in the tech and auto industries. From&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) showcasing its Full Self-Driving (FSD) capabilities to&nbsp;Uber&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) doubling down on its autonomy upside, there was no shortage of developments.
Let&#8217;s dive into the top stories.
Tesla Teases FSD Capabilities Ahead Of Robotaxi Event
Tesla is building anticipation for its upcoming Robotaxi event in Austin, Texas, by flaunting its FSD technology. A video surfaced over the weekend showing a Tesla vehicle skillfully navigating through traffic near Los Angeles&#8217;s LAX airport using Supervised FSD.
<a href="https://www.benzinga.com/tech/25/05/45342188/elon-musks-tesla-teases-fsd-capabilities-ahead-of-june-robotaxi-event">Read the full article here.</a>
Gary Black Doubles Down On Uber&#8217;s Autonomy Upside
Gary Black, a fund manager and long-term Tesla bull, has reaffirmed his belief in Uber&#8217;s potential in the autonomous vehicle sector. In a lengthy post, Black reflected on his past views on Tesla and the EV industry, asserting that his predictions have been validated over the years.
<a href="https://www.benzinga.com/25/05/45339797/gary-black-doubles-down-on-ubers-autonomy-upside-reflects-on-tesla-debates-i-was-right-on-volume-pr-and-robotaxis">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/25/05/45481170/as-tesla-stock-witnesses-nearly-45-surge-in-one-month-elon-musk-asks-minnesota-governor-tim-walz-hows-your-day-br" target="_blank" rel="noreferrer noopener">As Tesla Stock Witnesses Nearly 45% Surge In One Month, Elon Musk Asks Minnesota Governor Tim Walz, &#8216;How&#8217;s Your Day Bro?&#8217;</a>
Ross Gerber Praises Waymo&#8217;s Self-Driving Taxis
Investor Ross Gerber has lauded&nbsp;Alphabet Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) subsidiary Waymo&#8217;s self-driving technology, stating that it performs better than human drivers. This could spell increased competition for ride-sharing and autonomous vehicle rivals.
<a href="https://www.benzinga.com/25/05/45341851/ross-gerber-calls-waymos-self-driving-taxis-better-than-human-says-theyre-tough-competition-for-uber-and-tesla">Read the full article here.</a>
Bezos-Backed Slate&#8217;s 100,000 EV Orders Challenge Cybertruck Hype
The Slate electric pickup truck, backed by Amazon.com founder Jeff Bezos, has racked up 100,000 orders, posing a potential challenge to Elon Musk and Tesla&#8217;s Cybertruck. Early demand suggests that the Slate EV pickup truck could be a hit.
<a href="https://www.benzinga.com/news/25/05/45381497/jeff-bezos-backed-slate-hit-100k-ev-reservations-in-2-weeks-how-it-compares-to-cybertruck-launch">Read the full article here.</a>
Republicans Target EV Perks With New Bill
House Republicans have introduced legislation to eliminate the electric vehicle tax credit and repeal fuel efficiency rules. This could disrupt billions in automaker investments and has sparked industry concerns about abrupt policy changes.
<a href="https://www.benzinga.com/markets/equities/25/05/45366272/republicans-target-ev-perks-with-new-bill-ford-tesla-rivian-face-fallout-as-200-billion-in-battery-belt-investments-hang-in-balance">Read the full article here.</a>
Read Next:
<ul class="wp-block-list">
<li><a href="https://benzinga.com/news/global/25/05/45478121/why-a-danish-company-is-telling-elon-musk-thanks-for-the-ride-and-returning-its-tesla-fleet" target="_blank" rel="noreferrer noopener">Why A Danish Company Is Telling Elon Musk &#8216;Thanks For The Ride&#8217; — And Returning Its Tesla Fleet</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>
Photo courtesy: Shutterstock

Media

Elon Musk's Tesla Teases FSD Capabilities, Jeff Bezos-Backed Slate's 100,000 EV Orders Challenge Cybertruck Hype And More: This Week In Mobility

Many people rely on Reddit to navigate confusing financial and government systems — and the r/SocialSecurity subreddit is no exception. One <a href="https://www.reddit.com/r/SocialSecurity/comments/1kfu1mx/my_mom_48_swears_she_was_told_she_cannot_live/">recent post</a> drew attention for highlighting a common but complicated concern: how Supplemental Security Income, or SSI, benefits may be affected if a recipient moves in with family.
A user wrote about their mother, 48, who recently began receiving <a href="https://www.benzinga.com/personal-finance/25/05/45354988/suze-orman-taking-your-social-security-payments-at-62-is-wrong-heres-why">Social Security benefits</a> after a successful disability claim. "She's permanently disabled due to a back injury from a car accident in 2008," the post explained. "My mom swears she was told she cannot live with anyone who has income or she will lose or have her benefits reduced."
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The poster added that the home is under their father's name — the mother's legally separated spouse — and that the poster and their father pay half the mortgage. The mother is hesitant to move in, fearing that Social Security will "look up who owns the house and question why she&#8217;s living at her ex-husband's house," according to the post. "She's so paranoid, but is this true?"
<h2 class="wp-block-heading">Understanding the Confusion Around SSI</h2>
The confusion likely stems from how the <a href="https://www.benzinga.com/25/05/45338754/trumps-new-social-security-commissioner-says-hes-fundamentally-a-doge-person-what-that-could-mean-for-your-benefits">Social Security Administration</a> treats SSI versus Social Security Disability Insurance, or SSDI. Several Reddit users pointed this out in the comments.
"If she's on SSI, the rules are indeed very strict," one commenter explained. "If SSDI, it doesn't matter where she lives or what her assets are."
The distinction is important. SSDI is based on work history and is not income-tested, meaning living with someone who has income — even a family member — usually doesn't affect your benefits. SSI, on the other hand, is a needs-based program for people with limited income and assets. In SSI cases, help with housing can reduce the benefit amount.
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — <a href="https://www.benzinga.com/money/boxabl-scaling-fast-from-spacex-orders-to-600-homes-built-this-60k-foldable-home-may-be-the-future-of-housing">this is your last chance to become an investor for $0.80 per share.</a>
<h2 class="wp-block-heading">How Living Arrangements Can Affect SSI</h2>
According to the <a href="https://www.ssa.gov/ssi/spotlights/spot-living-arrangements.htm">SSA</a>, your living situation can directly impact your SSI benefit. If someone else — like a child or other family member — provides free shelter or pays your rent, your monthly SSI payment may be reduced by up to one-third of the federal benefit rate.
However, there are ways to avoid this reduction. Many Reddit commenters recommended creating a formal rental agreement.
"Do a legal lease," one user advised. "She rents a room and pays. There should be proof of her paying rent. Having a receipt." Several others chimed in to say they use this approach with their own parents who receive SSI.
The SSA's own guidance confirms this approach. As long as an SSI recipient pays their fair share of household expenses — rent, utilities, etc. — they can still receive the full benefit amount.
See Also: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.&nbsp;
<h2 class="wp-block-heading">Policy Changes in 2024</h2>
One key change that may help ease concerns: as of Sept. 30, the SSA has updated how it treats meals provided by others. If someone pays for your food but not your shelter, your SSI will no longer be reduced. However, if someone pays for both your food and shelter, your benefit may still be reduced.
This nuance is likely why the original poster's mother is so worried — and why clear, personalized advice is often needed.
<h2 class="wp-block-heading">Bottom Line</h2>
If you or a loved one receives SSI and is considering moving in with a family member, it's essential to understand the SSA's rules on household contributions. A written lease and proof of payment can make all the difference. SSDI recipients generally have more flexibility, but with SSI, even small changes in living arrangements can impact benefits.
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Image: Shutterstock

Personal Finance

'They'll Take Away My Benefits If I Move In With You': Why One Disabled Mom Fears Living With Her Adult Child

The week has been a rollercoaster ride for Wall Street, with a flurry of events stirring the financial markets. From a macro expert&#8217;s warning about a potential market misreading to Bill Gates&#8217; critique of Donald Trump&#8217;s tariffs, the week was packed with intriguing developments.
Let&#8217;s dive into the top stories that made headlines.
Wall Street&#8217;s &#8216;Sugar Rush&#8217;
Stephanie Pomboy, founder of MacroMavens, expressed skepticism about the recent Wall Street rally following the de-escalation of the U.S.-China trade war. She referred to the rally as a &#8220;headline sugar rush,&#8221; suggesting that the market might be misinterpreting the situation.
<a href="https://www.benzinga.com/25/05/45369770/whos-going-to-buy-2-trillion-worth-of-paper-macro-expert-calls-wall-street-rally-a-headline-sugar-rush-as-treasury-yield-spike-signals-bigger-trouble">Read the full article here.</a>
Bill Gates Criticizes Trump&#8217;s Tariffs
Microsoft Corp. co-founder Bill Gates voiced his concerns about President Donald Trump&#8217;s tariffs and the ensuing market turmoil. Gates warned that the unpredictability of U.S. economic policies could hinder long-term business decisions.
<a href="https://www.benzinga.com/news/25/05/45342962/bill-gates-slams-trumps-tariffs-we-told-china-to-make-their-own-chips-and-theyre-making-great-progress-warns-its-a-bad-time-to-inte">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/25/05/45432465/tom-lee-says-economists-predicting-a-recession-with-certainty-are-dead-wrong-in-my-30-years-ive-never-seen-an-economist" target="_blank" rel="noreferrer noopener">Fundstrat&#8217;s Tom Lee Says Economists Predicting A Recession With Certainty Are &#8216;Dead Wrong&#8217;: &#8216;In My 30 Years, I&#8217;ve Never Seen&#8230;&#8217;</a>
&#8216;Liberation Day 2.0&#8217; Warning
Financial analyst Gordon Johnson sparked a conversation on social media about a potential &#8220;Liberation Day 2.0,&#8221; an event that could trigger a significant equity market downturn. Johnson&#8217;s comments came as the yield on the 30-year U.S. Treasury note is nearing the critical 5% mark.
<a href="https://www.benzinga.com/25/05/45399783/gordon-johnson-warns-of-potential-liberation-day-20-as-30-year-treasury-yields-approach-5-amid-dollar-weakness">Read the full article here.</a>
Trump&#8217;s $600B Saudi Deal
President Donald Trump announced a massive $600 billion investment commitment from Saudi Arabia into the United States. Trump referred to this as a &#8220;golden era&#8221; of U.S.-Middle East economic cooperation.
<a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45390422/trump-unveils-historic-and-transformative-600-billion-saudi-deal-predicts-markets-will-go-a-lot-higher">Read the full article here.</a>
Powell Hints At Changes To Fed Strategy
Federal Reserve Chair Jerome Powell indicated that the central bank is reconsidering its approach to inflation and employment. This comes as part of a major review underway in 2025.
<a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45439079/powell-signals-fed-may-shift-its-inflation-strategy-after-5-year-economic-shake-up">Read the full article here.</a>
Read Next:&nbsp;<a href="https://benzinga.com/markets/equities/25/05/45463291/wall-street-poised-to-open-higher-after-sp-500s-4-day-run-sounds-like-powell-is-expecting-more-frequent-bouts-of-stagflation-cautions-expert" target="_blank" rel="noreferrer noopener">Why Nasdaq, S&amp;P 500 Futures Are Trading Higher Friday</a>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>
Image via Shuttertsock

Economics

Wall Street's 'Sugar Rush,' Bill Gates On Tariffs And A $600 Billion Saudi Deal: Top Economics Updates This Week

<ul>
<li>Deep, durable and consistent reductions in TTR were sustained at two years, following a one-time dose of nex-z</li>
<li>Clinically meaningful improvements in ATTRv-PN related outcomes observed at 24 months compared to baseline, including in patients who were previously progressing on patisiran</li>
<li>Continue to observe generally favorable safety and tolerability data in the full Phase 1 cohort with no new drug-related adverse events within the follow-up period</li>
<li>Enrollment continues to progress well in MAGNITUDE-2, which is designed to measure clinical outcomes (including mNIS+7) and evaluate how a single dose of nex-z can lead to reduction in serum TTR, to potentially support a BLA submission by 2028</li>
</ul>

NTLA

Intellia Therapeutics Announced Two-Year Follow-Up Data from Ongoing Phase 1 Study of Nexiguran Ziclumeran, in Patients with Hereditary Transthyretin Amyloidosis with Polyneuropathy;  Clinically Meaningful Improvements In ATTRv-PN Related Outcomes Observed At 24 Months Compared To Baseline, Including In Patients Who Were Previously Progressing On Patisiran

Ramit Sethi has helped millions of people improve their finances with his book, "I Will Teach You To Be Rich." Many of the strategies he shared in his book still hold value, including automatic investing.
Sethi recently shared an <a href="https://x.com/ramit/status/1921682452893798837">X post</a> that came in response to a question in an online forum. The question revolves around a piece of advice that sounded stupid at first but turned out to be life-changing.&nbsp;
He used the opportunity to tout the benefits of automatically investing 10% of your income.
"If you don't see it, you won't miss it," Sethi explained.&nbsp;
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If it's not broken, you don't have to fix it. Sethi has used this approach for various personal finance strategies, including automatic investing. Here's how it can help you.
<h2 class="wp-block-heading">Live Below Your Means</h2>
Making automatic investments will force you to live below your means. If 10% of your paycheck disappears from your bank account before you have the chance to spend it, you won't think about it.
Keeping the money out of sight also allows your portfolio to compound over time. Some investors do not check their portfolios for several weeks, making them less prone to stressing out about volatility in the stock market.
Living below your means is also a great way to keep spending in control and stay out of bad debt. Automatic investing can also leave you with a sizable nest egg by the time you are ready to retire.
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — <a href="https://www.benzinga.com/money/boxabl-scaling-fast-from-spacex-orders-to-600-homes-built-this-60k-foldable-home-may-be-the-future-of-housing">this is your last chance to become an investor for $0.80 per share.</a>
<h2 class="wp-block-heading">Gradually Increase How Much You Automatically Invest</h2>
Using automatic investing to build wealth can give you more financial flexibility in the future. Sethi recommends investing 10% of your paycheck, but you should strive to raise this percentage by at least one point every year.
For instance, if you contribute 10% of your paycheck this year, you should aim to invest at least 11% of your paycheck next year. These gradual increments won't have substantial ramifications on your ability to cover expenses. You may end up reviewing your budget and removing unnecessary items to make this small accommodation.
However, you don't even have to stop at 11%. If you have the flexibility to go from contributing 10% of your paycheck to 15% of your paycheck in one year, then go for it. An annual 1% bump is the minimum, but feel free to invest as much as you can.
See Also: The team behind $6B+ in licensing deals is now building the next billion-dollar IP empire — <a href="https://www.benzinga.com/money/elf-labs-ym?v=123">invest early at $2.25/share.</a>
<h2 class="wp-block-heading">Keep Things Simple With An ETF</h2>
You can buy individual stocks, but an ETF is a lot simpler. Investors can choose from ETFs that mirror popular benchmarks like the S&amp;P 500 and Nasdaq Composite. While you can outperform indices by selecting good stocks, it's riskier to construct a portfolio of individual stocks.&nbsp;
Buying an ETF instead of individual stocks can also save you a lot of time. You won't feel the need to look at your portfolio and various stocks every day. Instead, you can focus on growing your income while knowing that a percentage of every paycheck is going into ETFs.&nbsp;
Investors do not have to outperform the stock market to achieve their long-term goals. Achieving market returns may be good enough if you practice effective money habits.&nbsp;
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Image: Shutterstock

Ramit Sethi Explains How Automatic Investing Can Grow Your Wealth: 'If You Don't See It, You Won't Miss It'

The past week has been a whirlwind of tech news, with major developments from industry giants like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), as well as emerging players like Super Micro Computer (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>). Here&#8217;s a quick recap of the top stories that made headlines.
Apple Users Ditch Google Search: In a surprising revelation, Apple executive Eddy Cue announced a decline in search volume on the tech giant&#8217;s platform, a first in 20 years. This news was discussed on the All-In Podcast, where venture capitalist Chamath Palihapitiya urged Google to stop waiting for data and start fighting models like ChatGPT.&nbsp;<a href="https://www.benzinga.com/25/05/45339953/apple-exec-says-iphone-users-are-ditching-google-search-now-chamath-palihaptiya-urges-the-tech-giant-to-stop-waiting-for-data-and-start-fighting-models-like-chatgpt">Read the full article here.</a>
SMCI Rated Outperform by Raymond James: Super Micro Computer received an Outperform rating from Raymond James, thanks to its strong standing in the AI-optimized infrastructure sector and swift revenue growth. AI platforms make up about 70% of Supermicro's revenue, making it a dominant player among branded server vendors.&nbsp;<a href="https://www.benzinga.com/markets/25/05/45399438/smci-rated-outperform-by-raymond-james-amid-dominance-in-branded-ai-server-market">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/25/05/45479830/mark-cuban-says-back-in-the-day-bill-gates-stole-his-girls-in-las-vegas-he-was-worth-1-million-but-gates-was-the-mega-rich-king-of-tech" target="_blank" rel="noreferrer noopener">Mark Cuban Says &#8216;Back In The Day&#8217; Bill Gates Stole &#8216;His Girls&#8217; In Las Vegas — He Was Worth $1 Million, But Gates Was The Mega Rich &#8216;King of Tech&#8217; &#8211; Benzinga</a>
Trump Praises Nvidia CEO at Saudi Summit: President Donald Trump singled out Nvidia Corp. CEO Jensen Huang for praise during a U.S.-Saudi Investment Forum, highlighting the chipmaker's planned $500 billion investment in U.S. artificial intelligence infrastructure.&nbsp;<a href="https://www.benzinga.com/markets/equities/25/05/45398595/trump-praises-nvidia-ceo-jensen-huang-at-saudi-summit-tim-cook-isnt-here-but-you-are-controlling-99-of-the-chip-market-thats-not-easy-to-beat">Read the full article here.</a>
Gulf Countries to Become &#8216;Largest Hyperscalers&#8217;: CNBC's Jim Cramer lauded the artificial intelligence deals announced after the U.S.-Saudi Investment Forum and touted Gulf countries to be future hyperscalers.&nbsp;<a href="https://www.benzinga.com/25/05/45433051/jim-cramer-says-gulf-countries-will-become-the-largest-hyperscalers-in-the-world-following-ai-deals">Read the full article here.</a>
Nvidia, Amazon, Tesla, Palantir to Benefit from Saudi Arabia&#8217;s AI Push: Analyst Daniel Ives of Wedbush highlighted that the AI Revolution has found its next major area of penetration: Saudi Arabia. He named Nvidia, Amazon, Tesla, and Palantir as the top beneficiaries of this $1 trillion push.&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45424189/nvidia-amazon-tesla-palantir-among-top-beneficiaries-of-1-trillion-saudi-arabia-ai-push-analyst-says">Read the full article here.</a>
Read Next:&nbsp;<a href="https://benzinga.com/25/05/45466150/trump-decides-to-bypass-individual-trade-dealsnew-tariff-rates-to-be-set-unilaterally-and-notified-through-letter" target="_blank" rel="noreferrer noopener">Trump Decides To Bypass Individual Trade Deals — New Tariff Rates To Be Set Unilaterally And Notified Through &#8216;Letters&#8217;</a>
Image created using artificial intelligence via Midjourney.
 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/navdeep-yadav" target="_blank" rel="noopener">Navdeep Yadav.</a>

SMCI

Apple Users Ditch Google Search, Trump Praises Nvidia's Jensen Huang At Saudi Summit, SMCI Stock In 'Sweet Spot' And More: This Week In Artificial Intelligence

Grant Cardone didn't do well in school, but that didn't stop him from becoming one of the most successful real estate investors in the industry. He saw how school didn't serve him and opted to homeschool his children.&nbsp;
Based on this backstory, it's no surprise that Cardone <a href="https://x.com/onadaily365/status/1921635593320051142">doesn't like the modern education system</a>. He believes it's drawn out and needs to be changed.
"There's no reason to go 12 years, man," he said about the schooling system.
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Cardone's insights, success, and experience with the education system offer plenty of valuable lessons about innovating education.
<h2 class="wp-block-heading">Eight Years Of Education May Be Enough</h2>
Cardone criticized the idea that students have to spend 12 years in grade school, and that doesn't even include a four-year college education. Instead of this long process, Cardone believes six to eight years of education is all that you need.
Cutting down to eight years of education allows children to start working at 14-15 years old. While it may sound far-fetched today, he mentioned that Rockefeller, Vanderbilt, and John Pierpont Morgan were all eighth-grade dropouts. School can help some people become successful, but it can also hold back people.&nbsp;
Cardone advocates for a quicker path to a diploma and the workforce. It's part of the reason why Cardone got his children involved in the business when they were 6 years old.
Trending: Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">Invest before it's too late.</a>
<h2 class="wp-block-heading">Cardone Was Ready To Work At 15</h2>
Cardone's background in education played a key role in shaping his resentment toward the current education system. He was ready to work at 15 years old and help his mom with bills. Cardone's father had passed away a few years earlier, and he felt powerless at the time to help his mother.
He explained that he had to continue showing up to school until he was 23. He was bored in the classes and also succumbed to drug addiction during that stretch. Cardone said that he was ready to knock on doors at 15, but it took him much longer to finally get that opportunity.
Children used to work at factories at much younger ages. However, those factories often produced dangerous work environments. While it was good to get children out of those dangerous workplaces, children must now wait until they are 14 to do any type of non-agricultural work.
Today, there are many jobs that don't require putting children in dangerous or intense workplaces. Cardone had his children work for him when they were young, and he believes it should be more common for children to work in their early teens or even a little before that point.
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<h2 class="wp-block-heading">Give Children Responsibility</h2>
Cardone also mentioned in the video clip that keeping children "stuffed in classrooms" doesn't allow them to develop real skills. For instance, you can learn about selling in a textbook, but you learn the most about sales when you jump on the phone and speak with prospects.
Many schools focus on teaching theory instead of applying knowledge. The education system uses tests to measure success, but those tests often revolve around memorizing facts that most students will forget in a few years instead of actionable skills.&nbsp;
Skills like selling, woodwork, home maintenance, and website design can help people be prepared for the world beyond school. Cardone believes real skills like these should be taught in classrooms.
He believes that teaching real skills and shortening the path to the workplace will give children responsibility. They will know that their work is impacting businesses, whether they are employees or on the path to starting their own companies. Work can also provide a sense of purpose, but students miss out on that opportunity in their early years if they spend too much time in the classroom.
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Image: Shutterstock

Grant Cardone Rips The Modern Education System: 'There's No Reason To Go 12 Years, Man'

This week has been a whirlwind of political and financial news, with President Donald Trump at the center of several controversies. From healthcare to cryptocurrency, Trump&#8217;s policies and actions have sparked heated debates among lawmakers and financial experts. Here&#8217;s a quick recap of the top stories that made headlines over the weekend.
Bernie Sanders Criticizes Trump&#8217;s Budget Bill
Senator Bernie Sanders (I-Vt) delivered a scathing critique of the Republican budget reconciliation bill, labeling it a "death sentence" for millions of Americans. Sanders accused Trump and congressional Republicans of pushing a budget bill that offers a $235 billion estate tax break to the wealthiest 0.2% of Americans, while leaving 99.8% of citizens with no benefit. The bill also proposes to cut $715 billion from Medicaid and the Affordable Care Act, potentially leaving over 13.7 million people without health insurance.&nbsp;<a href="https://www.benzinga.com/general/health-care/25/05/45435914/bernie-sanders-calls-trumps-big-beautiful-bill-a-death-sentence-says-it-delivers-235-billion-tax-break-to-top-0-2-while-99-8-of-americans-get-not">Read the full article here.</a>
Elizabeth Warren Flags Trump-Backed Stablecoin as a Security Risk
Senior Democratic lawmaker Sen. Elizabeth Warren (D-Mass.) expressed concerns about the dollar-pegged cryptocurrency USD1, backed by President Trump. Warren, a known cryptocurrency critic, called the stablecoin a potential threat to national security and a conduit for corruption.&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45399468/elizabeth-warren-calls-out-trump-linked-stablecoin-as-a-national-security-risk-hes-cashing-in-on-foreign-crypto-deals">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/media/25/05/45481159/donald-trump-offers-to-visit-xi-jinping-in-beijing-calls-us-china-ties-important-after-striking-temporary-t" target="_blank" rel="noreferrer noopener">Trump Says He&#8217;s Willing To Visit China To Meet Xi Jinping, Calls US-China Relationship &#8216;Important&#8217; After Striking Temporary Trade Truce</a>
Trump&#8217;s $400 Million Boeing Jet Gift Sparks Controversy
President Trump defended Qatar's offer of a Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) 747-8 jumbo jet reportedly valued at $400 million, despite criticism from former Republican presidential contender Nikki Haley. Haley warned that accepting gifts from foreign nations could threaten intelligence and national security.&nbsp;<a href="https://www.benzinga.com/news/25/05/45400944/as-nikki-haley-slams-trumps-400-million-boeing-jet-gift-from-qatar-bill-ackman-cites-national-security-implications-only-a-fool-would-not-accept-this-says-president">Read the full article here.</a>
Trump Memecoin Adopted by China-Linked Nasdaq Company
Publicly-listed holding company GD Culture Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDC#NASDAQ">GDC</a>) announced plans to raise up to $300 million to build a cryptocurrency reserve made up of Bitcoin and Official Trump. The Nasdaq-listed firm plans to finance this investment through a stock sale to an accredited entity in the British Virgin Islands.&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45397930/trump-memecoin-adopted-by-china-linked-nasdaq-company-as-treasury-reserve-asset">Read the full article here.</a>
Trump Aims to Boost Nuclear Development
President Trump is advancing a series of executive orders aimed at reshaping U.S. nuclear energy policy. The orders aim to accelerate the construction of new nuclear power plants and reduce regulatory barriers, potentially benefiting several companies in the nuclear energy sector.&nbsp;<a href="https://www.benzinga.com/25/05/45378427/trump-wants-to-kickstart-nuclear-development-these-5-stocks-could-boom">Read the full article here.</a>
Read Next:&nbsp;<a href="https://benzinga.com/25/05/45479830/mark-cuban-says-back-in-the-day-bill-gates-stole-his-girls-in-las-vegas-he-was-worth-1-million-but-gates-was-the-mega-rich-king-of-tech" target="_blank" rel="noreferrer noopener">Mark Cuban Says &#8216;Back In The Day&#8217; Bill Gates Stole &#8216;His Girls&#8217; In Las Vegas — He Was Worth $1 Million, But Gates Was The Mega Rich &#8216;King of Tech&#8217; &#8211; Benzinga</a>
 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/navdeep-yadav" target="_blank" rel="noopener">Navdeep Yadav.</a> 
Image Via Shutterstock

Bernie Sanders Slams Trump's Budget Bill, POTUS $400 Million Boeing Jet Gift And More: This Week In Politics

Elon Musk's enthusiasm for electric vehicles is world famous, but it may have once thwarted a college date. In a 2013 interview, the Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO revealed how his obsession with EVs made for a less-than-romantic evening during his time at university.
What Happened: During an <a href="https://www.youtube.com/watch?v=AHHwXUm3iIg">interview</a> with the Computer History Museum, Musk revealed that he went on a date with a woman who later became a writer for Scientific American. "We went on a date, [and] all I was talking about was electric cars," Musk said. He admitted that it was not a "winning conversation." 
"She said the first question I asked her was, ‘Do you ever think about electric cars?'" he shared.
In another <a href="https://www.youtube.com/watch?v=MBItc_QAUUM">conversation</a> that took place in the same year at the Stanford Graduate School of Business, Musk retold the same anecdote, adding that it "wasn't helpful" and that his date had replied "no, I don't" to his question.
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Why It Matters: Musk noted that his once-niche interest has now become a "more effective" conversation starter since his college years. Currently, as Tesla CEO, Musk "leads all product design, engineering and global manufacturing of the company&#8217;s electric vehicles, battery products and solar energy products," according to the company's official website. Musk's net worth has soared to $406.9 billion, according <a href="https://www.forbes.com/profile/elon-musk/?listuri=rtb">to</a> Forbes, in part due to his earnings from Tesla.
Despite multiple <a href="https://www.benzinga.com/25/05/45334371/tesla-workers-told-to-stay-home-as-elon-musks-ev-giant-extends-memorial-day-break-following-13-delivery-drop-and-surging-inventory-report">setbacks</a> and <a href="https://www.benzinga.com/news/25/03/44359267/musk-once-said-he-doesnt-care-if-his-tweets-scare-off-buyers-ill-say-what-i-want-and-if-the-consequence-is-losing-money-so-be-it">controversies</a>, analysts predict that Musk and Tesla are <a href="https://www.benzinga.com/news/25/05/45336172/tesla-bull-gary-black-reaffirms-elon-musks-company-best-positioned-to-capitalize-on-evs-and-autonomo">"best positioned"</a> to capitalize on the evolving trend of EV adoption among drivers.
<a href="https://www.benzinga.com/25/05/45357593/tesla-stock-is-climbing-monday-whats-going-on">Tesla shares rose Monday</a> after reports emerged that the U.S. and China had agreed to temporarily lower most tariffs on each other's products.
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Photo courtesy: Shutterstock

Elon Musk Asked His Date, 'Do You Ever Think About Electric Cars?' — The Date Flopped, But His Obsession Sparked A $400 Billion Journey

The week was abuzz with tech news, from Apple&#8217;s potential shift in production strategy to a shocking response from Elon Musk&#8217;s AI. Here&#8217;s a quick rundown of the top stories that kept the tech world on its toes.
Apple&#8217;s iPhone Production Pivot &#8211; Wedbush analyst, Dan Ives, predicts that Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) could potentially increase its iPhone assembly production in India to 60%-65% by fall, depending on tariff negotiations. However, he also pointed out that the tech giant might revert to a China-driven iPhone strategy based on the tariff situation and deal negotiations. He added that U.S. iPhone production is "not feasible." <a href="https://www.benzinga.com/25/05/45464834/apple-iphone-production-in-us-not-feasible-says-tech-bull-after-donald-trump-tells-tim-cook-to-stay-out-of-india">Read the full article here.</a>
Elon Musk&#8217;s AI Stirs Controversy&nbsp;&#8211; Elon Musk&#8217;s AI, Grok, left users stunned with racially charged commentary about South Africa in response to unrelated questions. This unexpected behavior has sparked concerns about the AI&#8217;s reliability and bias.&nbsp;<a href="https://www.benzinga.com/tech/25/05/45428241/elon-musks-grok-ai-got-asked-how-many-times-has-hbo-changed-its-name-leaves-user-stunned-with-racially-charged-response">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/media/25/05/45481159/donald-trump-offers-to-visit-xi-jinping-in-beijing-calls-us-china-ties-important-after-striking-temporary-t" target="_blank" rel="noreferrer noopener">Trump Says He&#8217;s Willing To Visit China To Meet Xi Jinping, Calls US-China Relationship &#8216;Important&#8217; After Striking Temporary Trade Truce</a>
Gary Black on Pony AI&#8217;s Growth&nbsp;&#8211; Gary Black, managing director of Future Fund LLC, shared his thoughts on&nbsp;Pony AI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PONY#NASDAQ">PONY</a>)&nbsp;as the Chinese AV company prepares for its quarterly results. Black believes that despite the stock being overbought, it is a good way to play future advances in global autonomy.&nbsp;<a href="https://www.benzinga.com/tech/25/05/45345942/gary-black-weighs-in-on-pony-ais-growth-ahead-of-earnings-report-a-recently-announced-partnership-with-uber">Read the full article here.</a>
Samsung&#8217;s Surprise Launch &#8211; Samsung Electronics Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) launched the Galaxy S25 Edge, a razor-thin, 163-gram smartphone, just four months after unveiling the rest of the S25 series. The ultra-slim device features a 6.7-inch display, a dual-camera system, and the company&#8217;s latest AI-powered features. <a href="https://www.benzinga.com/25/05/45366293/samsung-unveils-ultra-thin-galaxy-s25-edge-in-surprise-launch-amid-slowing-demand-and-tariff-uncertainty-apple-reportedly-plans-to-catch-up-in-september">Read the full article here.</a>
Tesla Teases FSD Capabilities&nbsp;&#8211;&nbsp;Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp;showcased the company&#8217;s Full Self-Driving (FSD) technology ahead of next month&#8217;s Robotaxi launch in Austin, Texas. A video posted online showed a Tesla vehicle navigating its way through traffic using Supervised FSD.&nbsp;<a href="https://www.benzinga.com/tech/25/05/45342188/elon-musks-tesla-teases-fsd-capabilities-ahead-of-june-robotaxi-event">Read the full article here.</a>
Read Next:&nbsp;<a href="https://benzinga.com/news/25/05/45457691/its-incredible-the-trump-administration-is-acting-like-this-isnt-a-big-deal-says-fox-host-as-la-port-volume-" target="_blank" rel="noreferrer noopener">&#8216;It&#8217;s Incredible The Trump Administration Is Acting Like This Isn&#8217;t A Big Deal,&#8217; Says Fox Host As LA Port Volume Drops 35% And Layoffs Loom</a>
 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/navdeep-yadav" target="_blank" rel="noopener">Navdeep Yadav.</a> 
Image Via Shutterstock/Akhenaton Images

Apple iPhone Production In US 'Not Feasible,' Samsung's Surprise Launch And More: This Week In Appleverse

At most companies, predicting failure would get you fired. At Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), it <a href="https://www.benzinga.com/news/25/05/45360557/jeff-bezos-built-a-1-97-trillion-empire-by-putting-truth-before-comfort-heres-why-he-thinks-thats-wh">came straight from the founder</a>.
In 2018, Jeff Bezos stood before employees during an all-hands meeting and <a href="https://www.benzinga.com/25/05/45241136/jeff-bezos-says-he-won-the-lottery-with-his-teen-mom-she-had-him-at-17-took-him-to-night-school-then-invested-her-245k-savings-in-amazon">delivered the kind of statement</a> you don't expect from a CEO whose company was making billions: "Amazon is not too big to fail. In fact, I predict one day Amazon will fail. Amazon will go bankrupt."
The comment, first <a href="https://www.cnbc.com/2018/11/15/bezos-tells-employees-one-day-amazon-will-fail-and-to-stay-hungry.html">reported by CNBC</a> from a recorded video of the meeting, wasn't offhand. It was Bezos responding directly to a question about what Amazon had learned from the collapse of legacy retailers like Sears. His answer was blunt: big companies don't live forever—and the clock's always ticking.
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He told employees the real danger isn't outside competition. It's losing focus. "If we start to focus on ourselves, instead of focusing on our customers, that will be the beginning of the end," he said. "We have to try and delay that day for as long as possible."
At the time, Amazon was doing anything but failing. It was growing faster than ever. Alexa was in millions of homes. Amazon Web Services was dominating cloud. Retail was scaling globally. Bezos, still CEO then, had no financial reason to sound the alarm—just a long memory and a clear view of what happens when companies start believing they're bulletproof.
He stepped down as CEO in July 2021, <a href="https://www.benzinga.com/markets/equities/25/04/44943074/amazon-ceo-jassy-reveals-whats-kept-him-at-the-tech-giant-for-nearly-3-decade-heres-how-amzn-stock-has-done-since-he-replaced-bezos">handing the reins to Andy Jassy</a>, but the message hasn't aged. In fact, it's only become more relevant. Amazon <a href="https://ir.aboutamazon.com/news-release/news-release-details/2025/Amazon-com-Announces-Fourth-Quarter-Results/">pulled in $638 billion in net sales</a> in 2024 and generated nearly $60 billion in profit. From the outside, it looks unstoppable. Internally, Bezos knew better.
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And he wasn't wrong to bring it up.
A <a href="https://www.mckinsey.com/~/media/mckinsey/business%20functions/strategy%20and%20corporate%20finance/our%20insights/mckinsey%20on%20finance%20number%2084/mckinsey-on-finance-number-84.pdf">2023 McKinsey study</a> found that the average lifespan of a company on the S&amp;P 500 was 61 years in 1958. Today, it's under 18. The firm predicted that by 2027, 75% of the companies on the list will be gone—acquired, merged, or bankrupt. Size doesn't guarantee survival. In fact, it can make you slower, more bloated, more fragile.
Bezos didn't suggest Amazon was collapsing. He reminded everyone it could. The only way to push back the clock, in his view, was to keep the company focused on customers and paranoid about irrelevance.
It's a rare kind of leadership that warns of failure at the peak of success. But maybe that's the only reason Amazon's still beating the odds.
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AMZN

Jeff Bezos Once Told Employees, 'I Predict One Day Amazon Will Fail. Amazon Will Go Bankrupt' — But His Goal Was To 'Try And Delay' The Inevitable

The week in the financial world was nothing short of eventful. From Bitcoin&#8217;s bullish run to political drama involving meme coins, there was no shortage of headlines. Here&#8217;s a quick recap of the top stories that made waves over the weekend.
Peter Schiff&#8217;s Bitcoin Prediction
Noted economist and market commentator Peter Schiff made a bold prediction about Bitcoin&#8217;s future. Schiff believes that the next Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) pullback could lead to significant unrealized losses for Strategy Inc., led by Michael Saylor. The company has been buying billions in Bitcoin, funded by debt.
<a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45367816/peter-schiff-predicts-fireworks-says-michael-saylors-strategy-will-see-unrealized-loss-during-bitcoins-next-bearish-dip">Read the full article here.</a>
Bitcoin Hits $105,000 Amid US-China Trade Deal
Bitcoin reached a new high of $105,000 for the first time since January, following the announcement of a trade deal between the U.S. and China. Meanwhile, Ethereum held steady, and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) experienced a slight dip.
<a href="https://www.benzinga.com/trading-ideas/movers/25/05/45339289/bitcoin-taps-105000-ethereum-steady-dogecoin-falls-as-us-announces-china-trade-deal-analyst-says-btc-in-for-a-price-discovery-uptrend-if-it-secures-a-weekly-close-above-this-lev">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/trading-ideas/movers/25/05/45342167/why-is-this-dogecoin-clone-surging-on-monday-morning" target="_blank" rel="noreferrer noopener">Why Is This Dogecoin Clone Surging On Monday Morning?</a>
Anthony Scaramucci&#8217;s Bitcoin Forecast
Anthony Scaramucci, founder and CEO of SkyBridge Capital, stated that Bitcoin would be considered a full-fledged asset class, akin to gold, once it hits $500,000. He made this statement at CoinDesk&#8217;s Consensus 2025 conference.
<a href="https://www.benzinga.com/25/05/45427302/anthony-scaramucci-forecasts-bitcoin-will-be-deemed-asset-class-akin-to-gold-when-it-reaches-500000">Read the full article here.</a>
Ark Invest&#8217;s Warning to Bitcoin Treasury Companies
Brett Winton, the chief futurist at ARK Investment Management LLC, warned that Bitcoin treasury companies like&nbsp;Strategy Inc. could face trouble in the long run. He highlighted the risks of funding Bitcoin purchases with debt.
<a href="https://www.benzinga.com/25/05/45465955/bitcoin-treasury-companies-in-focus-as-ark-invest-expert-says-funding-purchases-with-debt-is-a-recipe-for-disaster">Read the full article here.</a>
Chuck Schumer&#8217;s Attack on Trump&#8217;s Meme Coin Connection
Senate Minority Leader,&nbsp;Sen. Chuck Schumer (D-N.Y.), criticized President Donald Trump&#8217;s decision to parole family members of Mexican cartel leaders into the United States. He implied a potential connection to the Official Trump meme coin.
<a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45426516/chuck-schumer-says-trump-is-letting-cartel-members-into-the-us-asks-how-much-memecoin-did-they-pay">Read the full article here.</a>
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<li><a href="https://benzinga.com/markets/cryptocurrency/25/05/45471925/donald-trumps-crypto-ties-could-be-a-banana-skin-for-the-industry-report" target="_blank" rel="noreferrer noopener">Donald Trump&#8217;s Crypto Ties Could Be A Banana Skin For The Industry: Report</a></li>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>
Photo Courtesy: Bukhta Yurii On Shutterstock.com

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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Ark Invest's Warning To Bitcoin Treasury Companies, Peter Schiff's BTC Prediction And More: Top Crypto Updates This Week

Ever feel like you're stuck with yourself—no matter how many vision boards you make or how many "new you" phases you cycle through? According to the late Charlie Munger, that might not be a lack of progress. That might just be biology doing its thing.
Munger, who served as vice chairman of Berkshire Hathaway and was Warren Buffett's right-hand man for over four decades, wasn't one for <a href="https://www.benzinga.com/personal-finance/25/04/45110288/99-year-old-billionaire-charlie-munger-said-iron-rule-of-life-is-everybody-struggles-but-you-have-to-soldier-through-its-your-only-option">sugarplum theories or motivational fluff</a>. He believed people were mostly hardwired from day one—and he had the personal experience to back it up. As the father of eight kids, he'd seen enough personalities unfold in real time to feel confident in his conclusion.
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In a <a href="https://www.cnbc.com/2019/02/22/what-berkshire-hathaways-charlie-munger-learned-about-life-at-age-7.html">2019 CNBC interview</a> with "Squawk Box" host Becky Quick, Munger explained, "I think they come into the world, to a certain extent, pre-made. And you just sit there and watch." He didn't stop there. "The shy baby is the shy adult. The booming, obnoxious, domineering baby is the booming, domineering, obnoxious adult. I've never found a way to fix that."
Munger wasn't offering parenting advice—he was making a much broader point about human nature. Whether you're raising a kid or just trying to navigate your own personal evolution, he seemed to believe the core of who you are doesn't really budge. In his words: "I can be cheerful about it, but I can't fix it. I can change my reaction, but I can't change the outcome."
This mindset was part of a larger life philosophy Munger shared during the interview. When asked by Quick about the secret to a long and happy life, he rattled off <a href="https://www.benzinga.com/news/25/01/43077104/charlie-mungers-3-rules-for-success-dont-sell-what-you-wouldnt-buy-work-for-those-you-admire-partner-with-people-you-enjoy">what he called "simple rules"</a>: don't envy, don't resent, live within your means, stay cheerful, and deal with reliable people. "And all these simple rules work so well to make your life better," he said, "and they're so trite."
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And if you're wondering <a href="https://www.benzinga.com/personal-finance/25/03/44065682/charlie-munger-shared-advice-for-the-young-but-it-applies-to-all-if-youve-got-anything-you-really-want-to-do-dont-wait-until-youre-93">how old he was when he figured that out</a>? "About seven," he replied. Even at that age, he said, he could spot irrationality in the adults around him. "Some older people were a little bonkers," he said. That early observation helped shape a worldview that stayed with him well into his 90s.
So if you've been blaming your quirks on your environment, your parents, or your high school gym teacher—Munger might tell you to look further back. Like, birth. His advice? Don't try to rewrite your wiring. Just figure out how to live with it—and maybe even laugh about it.
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Billionaire Charlie Munger Had 8 Kids And Said Who You Are At Birth Is Who You'll Always Be — 'I've Never Found A Way To Fix That'

Warren Buffett has never made any apologies for his diet—and he certainly isn't starting now.&nbsp;
The 94-year-old investing icon is just as famous for his <a href="https://www.benzinga.com/24/11/42115069/warren-buffett-is-set-to-collect-776-million-in-coca-cola-dividends-but-daughter-says-his-wife-buys-him-the-soda-on-sale">love of Cherry Coke</a> and fast food as he is for picking winning stocks. He drinks multiple cans of Cherry Coke a day, starts his <a href="https://www.benzinga.com/personal-finance/24/10/41230382/warren-buffett-lets-the-stock-market-decide-his-mcdonalds-breakfast-order-when-its-up-he-spends-">mornings with McDonald's</a>, and owns Dairy Queen. If it's loaded with sugar, salt, or nostalgia, there's a good chance it's on Buffett's plate.
In a memorable moment from the 2019 Netflix documentary "<a href="https://www.netflix.com/title/80184771">Inside Bill's Brain: Decoding Bill Gates</a>," Buffett gives viewers a glimpse into the culinary side of the Oracle of Omaha—one that's unapologetically rooted in comfort food and childhood favorites.
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The scene begins with Buffett and Bill Gates playing bridge, a game Buffett has long described as the perfect mental workout and a personal obsession. From there, the pair move on to lunch, where their decades-long friendship plays out not over market talk, but burgers, Cokes, and milkshakes. Two of the world's richest men, <a href="https://www.benzinga.com/24/12/42477114/bill-gates-recalls-the-time-warren-buffett-slept-over-and-ate-oreos-for-breakfast-poor-example-for-young-people-but-it-works-for-him">bonding over greasy food</a> like old college roommates.
In front of Buffett: a hamburger, a Coke, and what looks to be a strawberry milkshake crowned with whipped cream. Buffett immediately pops the top bun off his burger and starts shaking salt over the patty. Then he shakes some more. And some more. It's less seasoning, more snowfall.
Without missing a beat, he shrugs and offers the kind of <a href="https://www.benzinga.com/25/02/43646798/billionaire-warren-buffett-bet-his-kids-10000-he-wouldnt-gain-weight-and-they-tried-to-cash-in-by-sabotaging-him-with-donuts">Buffett logic that only he could get away with</a>: "I really found what I like to eat by the time I was six. Saved a lot of experimenting since then by just continuing to put a lot of salt on hamburgers and go to it."
Gates, watching the ritual unfold, asks if his doctors ever push back on his dietary choices.
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Buffett, grinning and wiping his mouth, replies, "They learned to give up."
But his daughter hasn't. Buffett reveals that she takes a more proactive approach—documenting his meals and keeping his medical team in the loop whether he likes it or not. "My daughter keeps taking pictures. She had a picture of me the other day with a ton of mayonnaise on something, e-mails it to all of my doctors and they all immediately respond."
And it's not just mayo. "She's taking pictures of potatoes with gravy," Buffett adds, raising his hand to mimic a towering pile. "I like to size things."
The conversation eventually shifts to global health, as Buffett asks Gates about progress on polio eradication. But the image that lingers is Buffett, just a couple years shy of 90 at the time, joyfully ignoring medical advice and doubling down on the foods he's loved for decades.
For Buffett, the secret to long life might just be simple: bridge with friends, burgers with extra salt, and <a href="https://www.benzinga.com/personal-finance/25/01/43341020/warren-buffett-would-give-up-a-year-of-his-life-to-eat-whatever-he-wants-his-daughter-confirms-he-still-gets-daily-mcdonalds-breakfast-at-94">absolutely no experiments with kale</a>.
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Warren Buffett Says His Daughter Sends Photos of His Mayo And Gravy-Laden Meals to His Doctors — 'They Learned to Give Up'

You might live in a 5,000-square-foot home in a gated neighborhood. You drive a luxury SUV, vacation somewhere new every summer — maybe Italy, maybe Bora Bora — and swipe your card at Whole Foods without ever checking the total. On paper, your life looks rich. But are you?
That's where things get blurry. Because in today's economy, being rich isn't just about looking the part—it's about <a href="https://www.benzinga.com/personal-finance/25/05/45234639/are-you-upper-class-heres-the-net-worth-you-need-in-your-50s">how your income and net worth stack up</a> against everyone else. And depending on where you live and how you've built your wealth, you might still fall squarely in the upper middle class.
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<h2 class="wp-block-heading">What Do the Numbers Say?</h2>
Geography plays a huge role in lifestyle inflation and how "wealthy" you feel. In San Francisco, a $300,000 income might buy you a two-bedroom condo and a decent latte habit. In the Midwest, it might make you feel like a millionaire.&nbsp;
<a href="https://www.pewresearch.org/short-reads/2024/09/16/are-you-in-the-american-middle-class/">According to Pew Research</a>, middle-income households earn between $56,600 and $169,800 a year, depending on household size and local cost of living.&nbsp;
Many sources, <a href="https://www.gobankingrates.com/money/economy/how-much-you-need-to-earn-to-be-upper-middle-class-in-every-state/">including GoBankingRates</a>, place upper middle class income somewhere between $106,000 and $150,000, though that too varies by region.&nbsp;
According to a <a href="https://smartasset.com/data-studies/top-1-percent-income-2024">2024 SmartAsset study</a>, the income needed to join the top 1% of earners in the U.S. is at least $787,712. In states like Connecticut, Massachusetts, and California, however, the threshold climbs past $1 million a year. In Massachusetts alone, top 1% earners bring in at least $1.13 million.
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When it comes to net worth, the Federal Reserve's latest Survey of Consumer Finances reports that the median net worth for U.S. households is around $192,900, while middle-income households <a href="https://usafacts.org/answers/how-much-wealth-does-the-american-middle-class-have/country/united-states/">typically hover around $480,000</a>.
For upper middle class, the estimate ranges between $500,000 and $2 million, depending on age and assets—data cited by analysts like <a href="https://www.financialsamurai.com/the-average-net-worth-by-age-for-the-upper-middle-class/">Financial Samurai</a>, who aggregate from Federal Reserve studies and IRS data.
So, what's considered rich? According to the <a href="https://www.federalreserve.gov/publications/files/scf23.pdf">Federal Reserve's triennial data</a>, the top 10% of households have a net worth starting at $1.9 million.
The<a href="https://www.benzinga.com/personal-finance/24/12/42659832/does-your-net-worth-make-you-rich-heres-what-it-really-takes-to-be-in-the-top-1"> top 1% households</a> exceed $13 million.&nbsp;
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<h2 class="wp-block-heading">So, Are You Rich?</h2>
Being rich isn't just about hitting a certain number—it's about how you manage it, grow it, and what that money actually lets you do.
Two families could earn the same amount. One is living paycheck to paycheck with luxury tastes and high debt. The other has investments, savings, and options. Wealth isn't just how much you make or own—it's about freedom, control, and long-term security.
If your net worth is under $2 million and your income is under $600,000, statistically, you're probably not rich—you're upper middle class. And in today's world, that still means you're doing very well.
But if <a href="https://www.benzinga.com/money/are-you-rich">you're still asking the question</a>, chances are you're somewhere in that gray zone—the one where life looks rich but the numbers keep you just shy of the line.
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