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The math behind Silicon Valley’s  millionaire factory

New Levels.fyi analyses show how equity grants at frontier tech companies have turned into life-changing sums.A SpaceX Software Engineer II offer from August 2022 included a $155,000 salary and a $365,000 equity grant that vested over five years. At SpaceX’s IPO valuation, that grant is estimated to be worth more…

Replika founder predicts ‘crazy protests’ over AI: ‘People are really struggling to find jobs’

The founder of the AI chatbot startup Replika says fears about AI eliminating jobs are “justified” — and could eventually trigger widespread backlash and protests.Eugenia Kuyda, who is also the CEO and founder of AI-powered mini-app platform Wabi, said during a recent live episode of the Platformer podcast that she believes “crazy protests around jobs and AI are going to start happening.””We’ll live in this very optimistic city where it’s all about like future, future,…

Business

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JPMorgan, Citigroup Named in DOJ Probe of Iran Leader’s Business Network

The Department of Justice is investigating transactions tied to a business network linked to Iranian Supreme Leader Mojtaba Khamenei that reportedly had exposure to major U.S. financial institutions, according to a Bloomberg News report. Bloomberg reported federal investigators are examining how companies connected to Khamenei built a global investment portfolio…

Investing

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