It is up to the federal government to make sure America embraces rapid technological change in a way that is “positive for as many of our citizens as possible,” said Rep. John Delaney (D-MD).
In an interview with Cheddar, the Congressman said he doesn’t believe such progress is a threat to the labor market.
“Innovation generally creates more jobs than it displaces,” said Delaney. “But the problem is oftentimes the jobs that get created by innovation are not located in the same places where the jobs that were displaced are located.”
He pointed out that 80 percent of venture capital in this country goes to just California, New York, and Boston, which means that innovation and job creation is highly concentrated in and around those places.
“I think that will continue unless policymakers do things to make sure more of our country has the opportunity to have people invest in their communities and kind of benefit from this innovation.”
Delaney founded the A.I. Caucus to do just that. Comprised of lawmakers from both sides of the aisle, the group strives to work with the private sector to come up with policy ideas that can help the country keep up with technological change.
“I just want to make sure we don’t leave huge parts of the country behind,” he said.
The settlement forces the Sackler family to give up control of the Stamford, Connecticut-based business, according to the Associated Press, while the company will pay up to $12 billion over time.
Assembly Bill 5, which the state Senate approved on Tuesday, would require employers to treat independent contractors — like Lyft and Uber drivers — as regular employees.
JPMorgan has developed a new index to track the impact that President Trump's tweets have on the market. The so-called Volfefe Index will specifically examine how the president's tweets affect U.S. Treasury yields.
These are the headlines you Need 2 Know for Monday, September 9, 2019.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Powell's optimistic remarks come amid a growing concern by economists, investors, and business leaders that a slowing of the U.S. economy is imminent.
Despite the economy's sustained growth, the jobs added in August were less than the nearly 160,000 expected by analysts. Monthly employment growth so far this year now averages 158,000, which remains well below 223,000 average monthly gains in 2018.
British lawmakers are set to vote again Monday on whether or not to hold a general election next month as the UK continues to wrestle with the looming Brexit deadline.
Ten of the top Democratic candidates for president presented their plans to tackle climate change during a marathon, seven-hour town hall broadcast live on CNN Wednesday.
These are the headlines you Need 2 Know for Thursday, September 5, 2019.
