Sam Ro 📈 retweeted
SCOOP: Major U.S. banks are detecting unauthorized third-party AI agents inside customer accounts, including some attempting to take actions that appear to be independent of user instructions, sources told Axios.
The findings have alarmed banking executives, who are racing to restrict access to their systems as AI moves at a velocity faster than financial institutions can respond, multiple industry and bank executives told Axios.
Several banks are now preparing for worst-case and even “day after” scenarios, including how to rapidly secure or restore customer accounts if things go wrong, the people said.
Several bank executives told Axios they're struggling to distinguish between human users and AI agents. One executive said banks also struggle to determine whether agents are authorized by customers or potentially operating without their permission, more akin to rogue agent behavior.
Read my latest for Axios here: axios.com/2026/10/22/ai-agen…
Sam Ro 📈 retweeted
whatever your thoughts: tweet of the day @PIIE
What amazes me is the attitude of so many of the centibillionaires.
A 5% tax will not make any difference to the way they live. Their spending may be extravagant, but it is still much less than their (correctly measured) income.
They know that, as gifted as some of them indeed are, they have benefited from extreme luck (and the help of the state, and, to speak like an economist, monopoly rents).
They know that their effective tax rate is low, relative to what many others pay.
They know that extreme inequality is extremely unpopular, and can lead to political unrest, backlash, or worse.
They must admit that, morally, it is hard to argue for a society in which some become obscenely wealthy, while so many are poor and see their income stagnate.
They typically have not indicated that they are building their wealth to eventually make the world a better place.
But they are still willing to fight the tax, spending hundreds of millions in California to avoid paying the tax. Why?
They simply think what is theirs is theirs, end of story.
They believe in the slippery slope, and if they do not take a stand on this levy, the government will come back for more.
They hate the state and the notion that their money will be misused?
Or?
Sam Ro 📈 retweeted
A group dispatched by Hegseth's team in February attempted to move the historic globe, said to be used by Eisenhower during World War II.
They lifted it from its home in an Army office in the Pentagon ... and dropped it.
Sam Ro 📈 retweeted
FT: Treasury secretary Scott Bessent told investors in a private meeting that he did not see a “systemic problem” with the AI boom, downplaying concerns that the industry is in a bubble like the one that preceded the dotcom bust.
“I’m good at figuring out when there are problems in systems,” Bessent, said when asked about AI in an interview with Bridgewater chief executive Nir Bar Dea, according to three people who were present at the event. “I don’t see a systemic problem.”
Some big personal news: I'm moving to join Works in Progress as executive editor, starting next month. I have been hoping for an opportunity to work with @bswud and @s8mb for more than a decade, and I'm incredibly excited to finally have one.
WIP is expanding on every front right now. We'll soon begin coverage of business and finance, as well as putting out more reported features. To that end, we'll be hiring more writers and reporters in the year to come. I'm planning to remain based in the US to help build out our presence here.
The print edition of WIP has existed for less than 12 months, but sometime in the next week or so we will reach our 10,000th paying print subscriber. It's a group that now includes people who've been at the highest echelons of government and who run the world's biggest public companies. We’re already on track to 3x that number next year. We'll be in store at Barnes & Noble, Hudson News and independent newsagents next week too.
I think WIP is providing something that people are craving from physical media right now: fewer, extremely well-crafted pieces in a beautifully designed form. Issues now feature an amazing group of columnists, including Tyler Cowen, Dan Wang and Stephen Kotkin. Each edition is better than the last.
You'll see us in more and more places next year too. In January, our new weekly documentary films will launch on YouTube. We're expanding into the events space, with a new series in North America. The sky is the limit from here on out.
Sam Ro 📈 retweeted
As Daylight Saving Time ends on November 1, sunset times across the U.S. will shift significantly earlier. Many major cities will see the sun go down before 5:00 PM.
I was out of Taijin, so I sprinkled lemon pepper seasoning on some sliced fruit. It's not the worst!
Sam Ro 📈 retweeted
We ran the numbers and found why certain stock pickers are having a terrible year.
Active managers in Morningstar's large-blend category started the year **underweight** AI stocks compared with the S&P 500 by more than 8 percentage points, with a 28.4% holding compared with the index’s 36.5%
Being an AI skeptic has burned many of them
@GZuckerman @WSJmarkets
wsj.com/finance/stocks/stock…
