Monday, July 6th Edition |
How was your Fourth? I definitely ate a few too many hot dogs.
Let’s dive in today …
Today’s Big Story
AI Is Reshaping the Economy
We know that … we just don’t know exactly how yet

Can you think of any industry not using, flirting with or even just acknowledging artificial intelligence? Yeah, me neither. Everyone basically agrees that AI will reshape the economy in the coming decades. And plenty say it’s happening right now, but no one is sure what effect the technology is having right now. Is it just too soon?
According to some measures, AI is contributing to high unemployment rates among new graduates and might already have destroyed tens of thousands of jobs. Other sources suggest companies might actually be adding workers as a result of the technology. Some believe that it’s contributing to America’s inflation problem (while others say it’s part of the solution to it). It might be responsible for a recent pickup in productivity growth, or might be playing virtually no role—or the productivity boom itself might be a mirage.
The New York Times reports that researchers can’t even agree on basic questions like how many companies are using AI or which workers are most vulnerable to the disruptions it could cause. “The conflicting signals partly reflect the challenge of detecting economic shifts in real time. Government statistics are inherently backward looking, and they are better at measuring broad trends than developments in specific sectors or regions. New technologies that might lead to the emergence of new products, jobs or entire industries can be particularly difficult to measure.”
Of course, what really makes this situation different is the speed of AI’s spread through the economy. It’s taken less than four years for the technology to go from a novelty useful mostly for writing limericks to a powerful tool adopted by the world’s largest corporations. Economists have become convinced that the technology will have profound implications for workers and the economy, even as they disagree about what those implications will be. By the time the data is clear, they warn, it could be too late for policymakers to figure out how to respond.
FYI:
Elon Musk says AI is the only way to fix the $40 trillion U.S. debt crisis—but a new study says even the most optimistic scenario won’t fill the hole.
America Celebrates 250 Years
Fireworks, festivities and all the hallmarks of a Trump rally
Despite nodding off for part of it, President Trump praised Saturday’s fireworks show in Washington, D.C., describing the explosive display across the night sky as the “best” ever. He also added that he personally overruled a recommendation to cancel the July Fourth “Salute to America” event on the National Mall after approaching storms forced a chaotic evacuation of hundreds of thousands of revelers and triple-digit heat cast a sweltering pall over much of the day.
In the end, the Washington Post says Trump got the July Fourth rally and pyrotechnic show he wanted. And much like the event itself, which effectively supplanted earlier plans for Washington’s July Fourth celebrations that had been in the works for years, it happened primarily through his own sheer force of will. Just before midnight, he gave a speech that blended American history, tales of old war heroes, happy patriotic talk and a handful of political chum. There was some rally-ish talk to scaremonger about Democrats four months before the midterms (he talked a lot again about “communism”) and demand that Congress pass an act that would make it harder to vote. House Democrats accused Trump of “hijacking” America’s milestone for his own gain.
Earlier, in the midst of the celebrations, masked people in gear associated with the white nationalist group Patriot Front rode the Metro and marched in front of Union Station, with some carrying Confederate flags. And then the night ended with DC experiencing a severe “Code Red” air quality after the massive fireworks display. But it sure made for some interesting photos, that’s for sure.
Meanwhile:
The Atlantic reports that our capital is currently a mess. “Chain-link fences, construction cranes, armed guards, and portable toilets everywhere.”
A Dupe Explosion
Have you noticed there are replicas everywhere now?
Any savvy shopper knows the term “dupe” now. While it used to be embarrassing to own a fake, that’s no longer the case, right? Today, if you can find a cheaper, reliable knock-off, it’s not considered a tacky alternative, it’s almost seen as a life hack.
In our online age, social media and online shopping exist awash in copies, dupes, and knock-off versions of name-brand products. Rather than outright counterfeits, these products carefully step around trademark and copyright rules with the express purpose of offering consumers cheaper alternatives to everything fashion and jewelry to gear and gadgets something a different brand created. It’s become an entire industry, embraced by influencers and companies like Quince.
And Vox says it’s everywhere. TikTok has a feature where if you pause a video, it will highlight products in the video and you can click those products and find similar-looking dupes on TikTok Shop. In her recent piece, “Knock It Off!,” Mia Sato, a senior reporter at The Verge, says our current algorithm-driven feeds make it so that copying someone or recreating something is not just easier, but it actually sometimes makes more sense. “I have dupes of stuff in my house that I didn’t even know were dupes. They’re all over, and sometimes you buy a dupe without even realizing it.”
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