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Legendary investor Jeremy Grantham raised the alarm on an AI bubble, revealed a pandemic bet that didn’t pay off, and recommended young people steer clear of Wall Street in a memoir published last month.The GMO cofounder wrote in “The Making of a Permabear: The Perils of Long-term Investing in a Short-term World,” which he coauthored, that ChatGPT’s release in late 2022 shored up a crumbling stock market and created a “bubble within a bubble.” There’s “no clear historical analogy to this strange new beast,” Grantham wrote, but the AI bubble is likely to “at least temporarily deflate,” allowing the original market bubble…

The economist who first warned the US about the K-shaped economy says he sees the potential for the situation to get worse.Peter Atwater, the economist who’s often credited with popularizing the idea of a K-shaped recovery—in which high earners thrive while lower-income Americans struggle—said one of his biggest concerns about the growing divide between the upper- and lower-income households is that the situation leads to a “caste system,” he told Business Insider.”What sustains a caste system is the absence of rungs in the ladder of upward mobility for the US,” Atwater said of such a future. “That could easily be…

The former “Real Housewives of New York City” star Bethenny Frankel built her public persona in the Big Apple, but after moving to Florida in 2025, she says the Sunshine State is the new cultural hub for America’s rich and famous.”Miami is the new LA,” Frankel, 55, told Business Insider. “In the way that LA was the cool place to be, and aspirational people wanted to be there.”Last March, the reality TV veteran, entrepreneur, and social media influencer joined a wave of New Yorkers relocating to South Florida, settling on the coast with her teenage daughter.She’s one of many Americans…

Two Alexander brothers had sex with a protesting woman in the backyard of a Hamptons rental as other partygoers joined in or watched, according to testimony in the third week of the siblings’ Manhattan sex trafficking trial.”She was over and over and over asking them to stop,” a witness told the jury of an unnamed woman she described as intoxicated and “screaming” for help in a hot tub.It was Saturday night on Memorial Day weekend in 2009. Tal Alexander and “one of the twins” — the witness couldn’t say if it was Alon or Oren Alexander — were among those…

California’s proposed wealth tax may command the spotlight, but a broader push by states to adopt so-called “millionaire taxes” could have a much larger impact on the nation’s top earners.Processing ContentCurrently, six states plus the District of Columbia have enacted some form of a millionaire tax, while seven more are actively considering proposals. Together, these 14 jurisdictions are home to more than half of the nation’s millionaire earners, according to IRS data and a Financial Planning review of state legislation. While wealthy residents are unlikely to support such taxes, financial advisors say there’s generally “more of a stomach” for additional…

This as-told-to essay is based on a conversation with Tyler Smith, founder of Hundred Health. It has been edited for length and clarity.I used to brag about how little sleep I got. It felt like a superpower: I could sleep just three or four hours a night, and still operate at a very high level.That helped me get ahead early on. As a teen, I bused tables and sold firewood. By the time I was 19, I bought a house (which was possible because it was the subprime mortgage days). Having a mortgage gave me real responsibility at a young…

Sometimes the recent past is a useful guide for what to expect in the future. Many of the themes that defined the Canadian labour market in 2025 have been in place since at least 2022, and it’s a safe bet that many will continue into 2026. Still, more recent, fast-moving trends related to trade, immigration, and the new AI era will also leave their marks on the year ahead.The labour market was soft but fairly stable amid a tumultuous 2025 for the Canadian economy. These developments filtered into employer demand, although the response wasn’t dramatic: the job vacancy rate fell…

LTK, a Softbank-backed startup and creator economy unicorn, let go of some staff on Thursday as part of a reorganization, a company spokesperson confirmed to Business Insider.The cuts were designed to refocus LTK’s business around its revamped brand platform and to account for structural changes to internal teams like marketing, according to the company.The job reductions, which hit a variety of roles including software engineers and staffers who worked with creators, affected a low single-digit percentage of LTK’s overall head count, which numbers over 550 employees, they said.”LTK recently completed a targeted organizational restructure to ensure we are aligned around…

Two of our longtime cherished colleagues at Accounting Today have passed away: Roger Russell and Jeff Stimpson.Processing Content Roger Russell We bid goodbye today to Roger at a funeral service in Lynbrook, Long Island. Roger had been covering tax for Accounting Today since 2000, bringing his legal expertise and tax knowledge to our magazine and website for decades. Roger was born in Niagara Falls, New York, in 1942 and he maintained a devotion to sports teams upstate, especially the Buffalo Bills. He continued working for Accounting Today as a senior editor until just recently at the age of 83. A Vietnam…

In a new viral AI video, Brad Pitt and Tom Cruise pummel each other on a rooftop in a cinematic action sequence.It’s not a trailer for a new blockbuster, and it’s not actually Pitt and Cruise, though it looks a lot like them. The video is so realistic, in fact, that the clearest sign it’s made with AI is the dialogue.”You killed Jeffrey Epstein, you animal! He was a good man!” Pitt says as he punches Cruise.”He knew too much…” Cruise replies.You can see why Hollywood’s most prominent trade organization is not happy about it. Every time Lakshmi publishes a…