🤖 Fed chief says the "AI hiring apocalypse" is real

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Greetings! Your latest quick tech update is here:

☀️ On this day: On October 31, 2008, an individual (or group) using the pseudonym Satoshi Nakamoto published the white paper “Bitcoin: A Peer-to-Peer Electronic Cash System.” This document introduced the concept of Bitcoin and the underlying blockchain technology, laying the foundation for the modern cryptocurrency revolution.

What’s happening:

• 🤖 Fed chief says AI cuts hiring to near zero

• 🎶 AI “artists” are taking over Billboard charts

• 🎨 Canva launches its own AI design model

• 💰 OpenAI plans $1T IPO as early as next year

• 📺 YouTube launches voluntary exit program in U.S.

• + 📊 Daily poll and results

• + 📈 Trending tools and resources

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Hand-picked news:

🤖 Fed chief says AI cuts hiring to near zero ↗️LINK

• What: Fed Chair Jerome Powell warned that U.S. job creation has “pretty much hit zero,” linking the slowdown to AI-driven efficiency. Despite a 4.3% unemployment rate, he said many firms are freezing hiring or cutting staff as automation boosts productivity. Nearly 946,000 layoffs have been announced in 2025—17,000 tied directly to AI.

• Why: AI lets companies “do more with fewer people,” creating strong investment in data centers but weak labor demand. The Fed cut rates to 3.75–4% to counter “downside risks to employment.”

• Impact: The U.S. economy is splitting in two—AI-rich firms thrive while lower-income workers struggle, forcing the Fed into a tough balancing act between inflation and jobs.

🎶 AI “artists” are taking over Billboard charts ↗️LINK

• What: AI-generated musicians are now making steady appearances on Billboard’s charts. In the past month, AI acts like Breaking Rust, Juno Skye, and Enlly Blue have each debuted new songs across country, Christian, and rock charts. Leading the trend is Xania Monet, whose AI vocals—created with Suno—have earned over 44 million U.S. streams and multiple chart-topping hits.

• Why: Platforms like Suno make it easy for creators to produce lifelike vocals and songs quickly, blurring lines between human and machine artistry.

• Impact: AI’s rise in mainstream music is challenging copyright laws and redefining what it means to be a “recording artist.”

🎨 Canva launches its own AI design model ↗️LINK

• What: Canva launched a new AI-powered “design model” that understands layers and formats, enabling editable designs across social posts, presentations, and websites. The update adds 3D object creation, style transfer, and an upgraded Canva AI assistant integrated throughout the platform.

• Why: The company aims to make visual creation easier by combining prompting with hands-on editing. It also introduced data-linked widgets, email design tools, and “Canva Grow,” an AI-driven marketing platform.

• Impact: By merging its Affinity suite and new AI tools, Canva is positioning itself as a major rival to Adobe, uniting professional design, data, and automation under one ecosystem.

💰 OpenAI plans $1T IPO as early as next year ↗️LINK

• What: Reuters reports that OpenAI is preparing for an IPO valued at up to $1 trillion, potentially by late 2026 or 2027. The move follows its transition from a nonprofit to a for-profit structure, signaling ambitions to become a top-tier public company.

• Why: CEO Sam Altman says OpenAI’s massive data center expansion—costing up to $20B per gigawatt—will require unprecedented capital. Going public could fund its push toward “hundreds of billions” in annual revenue.

• Impact: If realized, OpenAI would rank among the world’s most valuable companies, but public scrutiny could expose financial pressures and test whether its AI dominance can translate into real profit.

📺 YouTube launches voluntary exit program in U.S. ↗️LINK

• What: YouTube has launched a “voluntary exit program” for its U.S. employees, offering severance packages. CEO Neal Mohan announced the move in a memo outlining a reorganization that splits product teams into three new groups: Subscription Products, Viewer Products, and Creator & Community Products.

• Why: The restructuring aims to streamline YouTube’s operations and focus on subscriptions, user experience, and creator support. The company says no roles are being cut directly.

• Impact: The move comes as YouTube’s ad revenue rose 15% to $10.26B, suggesting the company is preparing for long-term efficiency while staying profitable.

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Today’s Poll:

Vote and find out about the result tomorrow.

Yesterday’s Poll Result:

Do you think teens under 18 should be banned from using AI chatbots?

• A) Yes – It’s necessary to protect minors - 47%

• B) No – It’s an overreach that limits access - 53% 🏆

Reader’s opinions:

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