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In an interview with Bloomberg on Wednesday, JPMorgan CEO Jamie Dimon said that every job will feel the effects of AI—including bankers. “I think [AI will] reduce some of our jobs down the road,” Dimon told Bloomberg’s Haslinda Amin. “I think we’ll be hiring more AI people and probably less bankers in certain categories.” Dimon said that AI will cause reductions and downsizing at the company, but he said, “that’s been happening my whole life.” As AI changes jobs, the billionaire CEO said JPMorgan will retrain and redeploy employees, and in some cases, offer early retirement. Dimon also said that society needs to “get prepared” for how AI will change the workforce.…

JPMorgan Chase unveiled its new 60-story headquarters to the public on Monday, one of the first major office buildings to be constructed after the COVID-19 pandemic and one that will remake the New York City skyline for decades. The bronze and steel tower at 270 Park, which reportedly cost $3 billion, replaced the Union Carbide Building, which sat on a full city block at 48th Street and Park Avenue for nearly 60 years. JPMorgan expects to house roughly 10,000 of its 24,000 New York-based employees in the new building, with employees starting their first workday at the tower at the same time as the company holds its ribbon cutting ceremony. “For 225 years, JPMorgan…

In 2024, JPMorgan Chase applied to receive financial assistance from Rockland County, New York, in order to expand a data center in Orangeburg, a hamlet of under 4,300 people. The development agency approved the assistance, which totaled nearly $77 million in state and local tax breaks for the project. In return, documents show, the company said the expansion would create just one full-time job. Now, government accountability group Reinvent Albany has called out the deal as “the largest government subsidy ever recorded within the United States,” prompting questions about how much public money goes to projects that don’t create meaningful jobs for communities. …

JPMorgan Chase will directly invest up to $10 billion in U.S. companies with crucial ties to national security. The investment plan revealed Monday will focus on four areas: supply chain and advanced manufacturing in critical minerals, pharmaceutical precursors, and robotics; defense and aerospace; energy independence, with investments in battery storage and grid resilience; and strategic technologies, including artificial intelligence, cybersecurity, and quantum computing. The investment is part of the bank’s Security and Resiliency Initiative, a $1.5 trillion, 10-year plan to facilitate, finance, and invest in industries critical to national security. “It ha…

Stablecoins that offer interest-bearing rewards may increasingly resemble bank deposits. But unlike traditional deposits, they lack the regulatory safeguards that undergird the banking system. That gap, according to JPMorgan CFO Jeremy Barnum, risks creating what he calls a “parallel banking system.” The issue is already on lawmakers’ agenda. During JPMorgan’s fourth-quarter 2025 earnings call, Evercore analyst Glenn Schorr noted that Congress is preparing to debate stablecoin policy, referencing a letter from the American Bankers Association that underscores the urgency of addressing a loophole around interest on stablecoins. Schorr added that Treasury estimated “$6.…

“Welcome to the future!” David Arena, head of global corporate real estate for JPMorganChase, is standing on a sweeping staircase in a soaring travertine-clad lobby addressing a crowd. He’s there to welcome visitors to the ribbon cutting of 270 Park Ave., the banking behemoth’s new global headquarters in Manhattan. Behind him, an American flag hitched to a fluted bronze mast flies vigorously (it’s propelled by an artificial breeze that required a remarkable amount of fine-tuning). Standing next to him are the people who helped design and build the $3 billion, 2.5 million-square-foot supertall: JPMC CEO Jamie Dimon, British architect Norman Foster, developer Rob …

A daunting stream of testimony and evidence has been presented in a New Mexico case that explores what the social media conglomerate Meta knew about the effects of its platforms on children. State prosecutors allege Meta failed to disclose the risks that its platforms pose for children, including mental health problems and sexual exploitation. Meta’s attorneys have said the company has built-in protections for teenagers and weeds out harmful content but the company acknowledges some dangerous content gets past its safety nets. Attorneys prepared for closing arguments to jurors next week after Meta on Friday closed out its showing of testimony and evidence and the …

The U.S. Justice Department is doubling down on its attempt to break up Google by asking a federal judge to force the company to part with some of the technology powering the company’s digital ad network. The proposed dismantling coincides with an ongoing federal effort to separate Google’s Chrome browser from its dominant search engine. The government’s latest proposal was filed late Monday in a Virginia federal court two-and-half weeks after a federal judge ruled that its lucrative digital ad network has been improperly abusing its market power to stifle competition to the detriment of online publishers. In a 17-page filing, Justice Department lawyers argued tha…

Andreessen Horowitz investors (and identical twins) Justine and Olivia Moore have been in venture capital since their undergraduate days at Stanford University, where, in 2015, they cofounded an incubator called Cardinal Ventures to help students pursue business ideas while still in school. Founding it also gave the Moores an entry point into the broader VC industry. “The thing about starting a startup incubator at Stanford is all the VCs want to meet you, even if you have no idea what you’re doing, which we did not back then,” Olivia says. At the time, the app economy was booming, and services around things like food delivery and dating proliferated, recalls Just…

The notion of instant on-the-go translation is nothing new for most of us, thanks to the now-ubiquitous Google Translate service. But a scrappy Google competitor thinks it can do better. ➜ This month, a company called Kagi​ is officially launching its ​Kagi Translate app for both Android​ and iOS. 💡 The app mirrors most of the same features Google Translate offers, with a few interesting new touches and one key point of distinction: It is all about protecting your privacy—with no ads, no trackers, and no data being monetized or repurposed in any way. Oh—and it’s free, too. ⌚ You’ll need all of two minutes to take it out for a test-drive. Psst: If y…

Kai Cenat is launching a “streaming university.” Cenat announced his plans during a February 13 stream, explaining how he wants to help streamers both big and small learn from his success. “I’m going to rent out a university over a course of a weekend. It will be streaming university. Okay? I’m going to rent it out,” Cenat said during his Twitch stream. “I’m going to put out enrolls and applications of people to enroll into the university, no matter if you’re big, no matter if you’re a small streamer, you can stream the entire weekend.” Cenat will install himself as school principal. Just like a real university, there will be dorms; unlike a real university, ther…

Time magazine has named the “Architects of AI” as its 2025 Person of the Year, a decision that has sparked significant backlash from gamblers who lost out on semantics. The companies behind AI tools and infrastructure aren’t “AI” in the literal sense, so prediction markets Kalshi and Polymarket ruled that anyone betting on “AI” doesn’t win. As author Parker Molloy pointed out on Bluesky, gamblers on the site are not pleased. “Someone please explain to me how this is not a trick?” one user complained after betting on billionaire Elon Musk on Kalshi. “Person of the year is a singular title…” “ThE aRcHiTeCtS oF AI,” another user wrote. “Fuck you pay me.” Oth…

Usually, when Washington, D.C., commuters are inundated with mint green-tinted ads in March, it means the Shamrock Shake is back at McDonald’s. This year, the eye-catching color instead appears in a full-court-press ad campaign for prediction market platform, Kalshi, which uses that shade in all its branding. Unlike seasonal milkshake ads, though, the targeted barrage of billboards, bus stop signs and metro station posters isn’t meant to reach all residents within the nation’s capital; just lawmakers and their staffers. It’s all part of a big bet by Kalshi to avoid regulation—one that seems destined to not pay out. Kalshi has launched an advertising blitz in …

Can ChatGPT dethrone Gemini? Is Tim Cook capable of leading Apple into the next wave of AI? As 2025 winds down, journalist and podcast host Kara Swisher cuts through the noise and decodes what’s really happening across OpenAI, Meta, Google, and more. Then, Swisher sizes up the state of Disney, Netflix, and the escalating bidding war for Warner Bros. Discovery. This is an abridged transcript of an interview from Rapid Response, hosted by former Fast Company editor-in-chief Robert Safian. From the team behind the Masters of Scale podcast, Rapid Response features candid conversations with today’s top business leaders navigating real-time challenges. Subscribe to Rapid R…