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Uber president Andrew Macdonald (pictured) says its “hard to draw a line” between AI spending and deliverable features. | Photo: Zed Jameson/Bloomberg via Getty Images After reportedly exhausting its annual AI budget just four months into 2026, Uber is now questioning whether it's actually seeing meaningful returns on its investments. In an interview with Rapid Response, Uber president and chief operating officer Andrew Macdonald said the company isn't seeing a connection between rising token consumption for Claude Code and more useful features being delivered to consumers. "That link is not there yet, right? I think maybe implicitly there is more that is getting shipped, but it's very hard to draw a line between one of those stats and, 'Okay, now we're actually producing 25 percent more useful consumer f … Read the full story at The Verge.
Read full articleUber has introduced a $1,500 monthly cap per employee on agentic coding tools — including Anthropic’s Claude Codeand Cursor — after the company exhausted its entire annual AI budget within four months of the year. Employees can track usage through an internal dashboard, with exceptions permitted on a case-by-case basis. The overspend followed an internal culture of encouraging staff […]
Uber's cutback has occurred after the company had reportedly encouraged staff to use AI as much as possible.
The post Elon Musk Says Bloomberg SpaceX IPO Valuation Report Is False appeared on BitcoinEthereumNews.com. Elon Musk replied “False” to a report claiming SpaceX lowered its IPO valuation target. Bloomberg reported that SpaceX is targeting at least $1.8 trillion in its IPO. The report said SpaceX may seek to raise as much as $75 billion. Elon Musk has denied a report that SpaceX lowered its initial public offering valuation target ahead of its expected market debut. Musk replied “False” on X after a post cited Bloomberg’s report that SpaceX was now targeting a valuation of at least $1.8 trillion. The response added fresh attention to one of the most closely watched IPO plans in global markets. SpaceX is expected to list under the ticker SPCX, with investors tracking its valuation, fundraising size, and listing timeline. Musk Pushes Back on Valuation Report Bloomberg reported that SpaceX is currently targeting a valuation of at least $1.8 trillion in its planned IPO. The report cited pe
The post Fed’s Powell says credibility lost if President can fire officials appeared on BitcoinEthereumNews.com. Former Federal Reserve (Fed) Chair Jerome Powell said the US central bank would damage public trust that’s required to support a strong and stable economy if any president were free to dismiss Fed officials over policy disagreements, Bloomberg reported on Monday. Powell’s remarks came as the US highest court is deliberating the fate of Fed Governor Lisa Cook, whom US President Donald Trump has sought to fire over unproven mortgage fraud allegations. Cook has denied the charge. Key quotes If any administration finds a way to remove Fed officials over policy differences, then future administrations will do so as well. The Fed’s credibility would be lost. Our credibility has been built and sustained over many decades, and we have a duty to safeguard that priceless asset for our fellow citizens and for generations to come. Market reaction At the time of writing, the US Dollar I
The post Gold rebounds to near $4,500 after US and Iran reach outline ceasefire deal appeared on BitcoinEthereumNews.com. Gold price (XAU/USD) edges higher to near $4,500 during the early Asian session on Friday. The precious metal rebounds from a two-month low hit in the previous session after reports that the United States (US) and Iran had reached a ceasefire extension agreement. Bloomberg reported on Thursday that Washington and Tehran have reached a tentative deal to extend a ceasefire by 60 days and launch further talks on Iran’s nuclear program, raising hopes the three-month conflict could be nearing a resolution. US President Donald Trump has yet to agree to the terms. Both countries have previously hailed progress, with Trump emphasizing the US was close to securing an agreement, but the delay has continued. Data released by the US Bureau of Economic Analysis (BEA) on Thursday showed that the US Personal Consumption Expenditures (PCE) Price Index climbed by 3.8% YoY in April
Apple's long-awaited Siri overhaul, expected to arrive in iOS 27, might look a lot like ChatGPT with a splash of Liquid Glass. Renders from Bloomberg offer a preview of iOS 27, including the new app and chat interface for Siri. The renders are "based on information viewed by Bloomberg and people with knowledge of [Apple's] plans," and could differ from Apple's final designs, which Bloomberg's Mark Gurman says Apple will reveal at WWDC in June. The images show a new pill-shaped Siri chat bubble popping out of the Dynamic Island with a drop down menu containing options for Ask, Siri, and ChatGPT. According to Gurman, you'll be able to open t … Read the full story at The Verge.
The post New York passes Mamdani’s pied-a-terre tax. Who pays and how much appeared on BitcoinEthereumNews.com. The 220 Central Park South building, center, stands in New York, U.S., on Wednesday, Jan. 23, 2019. Just days after buying one of the most expensive residential properties in London, Citadel founder Ken Griffin set a U.S. record with the $238 million penthouse at 220 Central Park South. Jeenah Moon | Bloomberg | Getty Images New York City’s new tax on second homes will more than double property taxes owed by many wealthy luxury apartment owners, according to tax experts. State lawmakers on Wednesday passed the tax on non-primary residences in order to help close the city’s budget gap. The so-called pied-a-terre tax will be imposed on second homes valued at $1 million or more. It’s expected to raise $500 million in revenue. Details on the tax obtained by CNBC show that the property tax would take effect in two different phases. In the first two years – the tax years 2026-2027
The post CVS restores Zepbound coverage, adds Eli Lilly’s obesity pill Foundayo appeared on BitcoinEthereumNews.com. An Eli Lilly & Co. Zepbound injection pen arranged in the Brooklyn borough of New York, US, on Thursday, March 28, 2024. Shelby Knowles | Bloomberg | Getty Images CVS Health on Thursday said it will restore coverage of Eli Lilly‘s blockbuster weight loss injection Zepbound and start covering its new obesity pill on its standard drug plans – a win for the drugmaker and certain patients who will be able to access more treatment options. CVS will add Zepbound coverage on Oct. 1, and start covering Lilly’s newly approved Foundayo pill on June 1. The move will boost Lilly’s efforts to maintain its dominance over Novo Nordisk in the blockbuster weight loss drug market, as it puts the two drugmakers on equal footing in major plans. It comes a year after CVS struck a deal with Novo Nordisk to make its drug Wegovy the preferred obesity treatment on its standard plans, while dro
