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Spending on AI infrastructure is now contributing more to U.S. GDP growth than the entire consumer economy, according to new data from the Bureau of Economic Analysis. The comparison, which was posted to Twitter (X) by economist Heather Long on Monday, suggests that hype may not be the only thing propping up the high stock prices and valuations of AI companies such as Nvidia and OpenAI. Here, “consumption” means consumer spending on goods and services for personal use, which traditionally contributes about 70% of U.S. gross domestic product. “AI Spending” means business investment in software and information processing equipment, including data center construction, c…

An experimental medication made from marijuana successfully reduced back pain in a new study, offering further support for the drug’s potential in treating one of the most common forms of chronic pain. The 800-patient study by a German drugmaker is the latest evidence of the therapeutic properties of cannabis, which remains illegal under U.S. federal law even as most states have made it available for medical or recreational use. Health officials in Canada and Europe have previously approved a pharmaceutical-grade form of cannabis for several types of pain, including nerve pain due to multiple sclerosis. In the U.S., the Food and Drug Administration has approved a …

Comcast said on Monday it will appoint President Michael Cavanagh as co-CEO, adopting a dual chief executive model as the company prepares to spin off several NBCUniversal cable networks as part of a restructuring. Cavanagh will take up the new role in January and also join the company’s board, serving alongside Brian Roberts, who will continue as chairman and co-CEO. Several high-profile firms such as Oracle and Netflix have adopted a co-CEO model to better manage their operations as they become more complex and globally diversified. Comcast plans to spin off its NBCUniversal cable channels, including USA Network and CNBC, into a new company called Versant la…

CSX railroad announced Monday that it had replaced its CEO less than two months after an investment fund urged it to either find another railroad to merge with to better compete with the proposed transcontinental Union Pacific railroad or fire outgoing CEO Joe Hinrichs. The outgoing CEO, who came to the railroad in 2022 after a long career with Ford, focused on repairing CSX’s relationship with its workers and labor unions and unifying the team after a bitter contract fight. But Ancora Holdings, which helped spur major changes at Norfolk Southern, said CSX’s operating performance deteriorated significantly under Hinrichs’ leadership. Hinrichs resigned to clear the way…

Lufthansa announced on Monday it plans to cut thousands of workers as it aims to increase profitability and efficiency, in part by relying more heavily on artificial intelligence. The airline group said it will eliminate a total of 4,000 jobs worldwide by 2030, the majority of which will be in Germany—with a focus on administration roles, not operational ones. “The Lufthansa Group is reviewing which activities will no longer be necessary in the future, for example due to duplication of work,” the company said in a statement. “In particular, the profound changes brought about by digitalization and the increased use of AI will lead to greater efficiency in many are…

Electronic Arts has announced plans to go private in what will be the largest leveraged buyout in history. The $55 billion purchase of the entertainment giant behind franchises that include Madden NFL and Battlefield is set to close in the first quarter of fiscal year 2027. Saudi Arabia’s Public Investment Fund (PIF) will be, by far, the majority investor in EA, one of the largest third-party publishers of video games. Silver Lake and Affinity Partners (whose CEO is Donald The President’s son-in-law Jared Kushner) will own minority interests. CEO Andrew Wilson will continue to head EA. The all-cash deal calls for a buyout of EA stock at a price of $210 per share. …

On September 25, Starbucks CEO Brian Niccol informed his employees in a public memo that the company would be cutting 900 corporate roles and closing down stores. However, the memo didn’t share exactly how many stores would close and where they’re located—leaving employees scrambling to compile that information on their own. Starbucks is framing the restructuring as a part of Niccol’s broader “Back to Starbucks” plan, a sweeping initiative designed to return Starbucks to its heyday in the mid-2010s. That includes redesigning store interiors, rethinking menus, and making the ordering experience feel less “transactional.” As of right now, Starbucks is still on …

Burger King is getting into the Halloween spirit. The fast food chain just introduced its first-ever Monster Menu to kick off spooky season. According to a news release, the vamped up menu will drop on Sept. 30. “BK fans have come to expect something spirited from us during the Halloween season, and each year we try to bring even more fun to families,” said Joel Yashinsky, chief marketing officer, Burger King US&C in the release. Yashinsky continued, “This year, we’ve dialed up the fun and flavor, not only with our ‘Monster Menu’ line-up complete with themed menu innovation, packaging and a special crown, but also with collectible buckets and Scooby-Doo toys—…

In the absence of stronger federal regulation, some states have begun regulating apps that offer AI “therapy” as more people turn to artificial intelligence for mental health advice. But the laws, all passed this year, don’t fully address the fast-changing landscape of AI software development. And app developers, policymakers and mental health advocates say the resulting patchwork of state laws isn’t enough to protect users or hold the creators of harmful technology accountable. “The reality is millions of people are using these tools and they’re not going back,” said Karin Andrea Stephan, CEO and co-founder of the mental health chatbot app Earkick. ___ ED…

Do you suffer from time anxiety? Before you answer, consider if any of the following scenarios sound familiar: You get a late start, and the whole day you’re running behind. You always feel rushed, to the point that you start to get panicky. You look at your task list at the end of the day, and you’ve only finished half of what you planned. You constantly feel that time is slipping away. In other words, you’re constantly battling the feeling that there’s simply not enough time. But what if you could reframe the way you think about time? Well, you can. It involves learning a little ancient Greek, and getting to know that society’s approach to …

I vividly remember the first time that I buckled my 8-year-old son into a 4,000 pound, AI powered robot, pressed a button, and sent us careening through the streets of San Francisco with no one behind the steering wheel. We were riding a Waymo, one of the first self-driving cars to offer public rides in selected U.S. cities, our own city of San Francisco included. After a few minutes of riding, I asked my son what he thought. “I feel . . .” he said, taking a long pause before responding, “. . . uncomfortable. But, it’s really cool!” I suspect he’s not alone in feeling that way. According to data from AAA, 61% of Americans consider themselves “afraid” to ri…

New York City Mayor Eric Adams ended his struggling reelection campaign Sunday, an acknowledgment that he was no longer a credible contender after a year of scandal and political turmoil. In a video released on social media, Adams spoke proudly of his tenure as mayor. But he said his now-dismissed federal corruption case left voters wary of him, and “constant media speculation” about his future made it impossible to raise enough money to run a serious campaign. “Despite all we’ve achieved, I cannot continue my reelection campaign,” he said. Adams did not endorse any of the remaining candidates in the race, but he warned of “insidious forces” using local government to “…

Today (Monday, September 29) is National Coffee Day. To celebrate, many coffee shops and eateries are promoting discounts and freebies. Keep these National Coffee Day deals and freebies in mind when stopping to get your daily dose of caffeine. Bruegger’s Bagels Rewards members can get a free hot or iced coffee with a purchase when ordering in the app. Burger King Burger King Royal Perks rewards members can get a free medium iced coffee with a minimum purchase of $1 when ordering through the Burger King app. Members must activate the offer before placing an order. Caribou Coffee On September 29, receive a free medium hot or iced classic latte with …

I revisited my definition of strategy several years ago and realized recently that I hadn’t written about it—just presented it privately to executive teams in the context of my strategy work with them. I decided to rectify that oversight by writing this Playing to Win/Practitioner Insights (PTW/PI) piece on it called Revisiting my Definition of Strategy: Compelling Desired Customer Action. And as always, you can find all the previous PTW/PI here. Need for a DefinitionFor any field to develop, the terms used in the field must be defined. Otherwise, participants can’t discuss the field intelligently, and it is therefore hard for the field to advance. I experienced that phen…

The U.S. Centers for Disease Control and Prevention (CDC) has updated and expanded a food safety alert regarding possible Listeria contamination in several prepared pasta meal products. The extent of the outbreak is now known to have occurred in at least 15 states and has unfortunately resulted in multiple deaths. Here’s what you need to know. What’s happened? On Friday, the CDC issued a new alert along with an expanded list of prepared pasta meal products that may be contaminated with Listeria, a potentially deadly bacterium. According to an accompanying CDC tracking page, there have now been 20 cases of Listeria believed to be related to the outbreak. Th…

A few years back, Deanna Conley had just moved to Newport, Rhode Island with a 3-month-old and 3-year-old. She soon joined a focus group for a new type of club forming in her area. This club—part daycare, part adult coworking space, and a little bit gym—would fulfill Conley’s post-moving needs: It offered community in a town where she knew no one, a space to work as a small business owner without an office, and affordable childcare. “The cost of a nanny was really prohibitive for us,” Conley says. Her older son had been in traditional daycare prior to the family’s move, but Conley thought this club might be a bit different. “I was really interested in and excite…

Hello and welcome to Modern CEO! I’m Stephanie Mehta, CEO and chief content officer of Mansueto Ventures. Each week this newsletter explores inclusive approaches to leadership drawn from conversations with executives and entrepreneurs, and from the pages of Inc. and Fast Company. If you received this newsletter from a friend, you can sign up to get it yourself every Monday. When Mary Beth Laughton became president and CEO of Recreational Equipment, Inc. (REI) earlier this year, she inherited an organization with a rich heritage: REI was founded in 1938 by Lloyd and Mary Anderson, who joined some fellow outdoor enthusiast friends to buy ice axes that were only availabl…

Delivering feedback as a leader can feel challenging, but with the right training and awareness, you can set yourself up for success. In this article, industry leaders share the common mistakes they’ve observed and practical tips that can help you communicate feedback more effectively and constructively to foster a more productive work environment. Focus on Behavior, Not Character When feedback judges the individual—and not the action—a poor outcome is almost guaranteed. “You’re not a team player” is an example of feedback that makes an assertion about a person’s character. The receiver of this feedback is likely to experience a “fight, flight, or freeze” response …

Here are two high-level truths essential to understanding the present and future of robotics. First, we want robots to work for us. Second, when it comes to work, humans have three historical blueprints for recruiting labor: animals, through the process of domestication; other humans, through employment, but also subjugation and outright enslavement; and machines, through the development of physical systems for performing actions. Why does this matter to understanding the present and future of robotics? While we’ve created an astonishing diversity of machines in the broadest sense, those first two blueprints for recruited labor—animals and other humans—have so far do…

Despite being one of the most celebrated and influential architects of all time, Frank Lloyd Wright has never had what may be one of the top indicators of cultural importance: a Hollywood biopic. That may soon change, as the Frank Lloyd Wright Foundation has recently struck a licensing deal with Hollywood production company Galisteo Media to bring Wright’s story to the big screen as a movie. “He was the greatest American architect. He was incredibly ambitious and headstrong and visionary. He also was a flawed person, and his life was filled with triumph and tragedy,” says Rob Rosenheck, cofounder of Galisteo Media. “This is a big gap in American popular culture that w…