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- Trump sides with Elon Musk in MAGA fight over immigrant workers
Trump sides with Elon Musk in MAGA fight over immigrant workers
Bay Area Times
December 30, 2024
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Top stories today:
- Trump sides with Elon Musk in GOP fight over legal immigration
- OpenAI lays out for-profit transition plans
- Trump asks Supreme Court to pause law threatening TikTok ban
- U.S. economic growth set to top G-7 peers
- U.S. credit card defaults hit $46B in 2024, highest in 14 years
- Global cleantech funding -33% YoY to $29.7B in YTD 2024
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All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing today’s newsletter (beware of the few hallucinations):
1. Trump sides with Elon Musk in GOP fight over legal immigration
“Always liked” H-1B visas, Trump told the New York Post on Sat.
Trump spoke after Elon Musk’s clash with MAGA allies over immigrant workers.
Trump moved to restrict the H-1B visa program during his first term.
H-1B research “complement U.S. workers, fill employment gaps in many STEM occupations, and expand job opportunities for all,” empirical research and economic theory suggest.
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3. OpenAI lays out for-profit transition plans
Existing for-profit arm will become a Delaware-based public benefit corporation to “raise more capital than we’d imagined,” OpenAI said.
PBC “will run and control OpenAI’s operations and business.”
Nonprofit “will hire a leadership team and staff to pursue charitable initiatives,” OpenAI said.
Elon Musk, one of OpenAI’s co-founders, has sought an injunction to block its for-profit shift.
Encode, a nonprofit co-sponsoring SB 1047, has also moved to block the transition.
The outlined plan has also been criticized by OpenAI’s longtime policy researcher Miles Brundage
How OpenAI would “advance safety and good policy,” Brundage questioned.
Nonprofit would become a side thing, he worried.
4. Trump asks Supreme Court to pause law threatening TikTok ban
