News Gist .News

Articles | Politics | Finance | Stocks | Crypto | AI | Technology | Science | Gaming | PC Hardware | Laptops | Smartphones | Archive

Mark Cuban Offers to Fund Government Tech Unit in Crisis

Billionaire investor Mark Cuban has offered to support newly laid-off federal workers who were part of the government's technology unit, 18F. The company would provide consulting services and potentially invest in startups founded by former employees. This development presents an intriguing possibility for the future of civic tech, as displaced workers may band together to build their own expertise.

See Also

Mark Cuban Warns ‘This Is How Recessions Start’ as Federal Cuts Ripple Through Δ1.80

Mark Cuban has warned that the federal government's massive cuts are having spillover effects across the economy, eventually leading to a downturn. The latest jobs report showed solid gains, but it pointed to early effects of DOGE cuts and didn't capture the wave of layoffs that have come more recently. Billionaire investor Mark Cuban has issued a warning about the consequences of federal cuts, highlighting the impact on families, landlords, cities, and towns.

Mark Cuban Says 'I'm Dumb, I Can't Figure Out How To End World Hunger' But Promises To Keep Pushing Δ1.74

Mark Cuban candidly admitted his limitations in addressing world hunger while emphasizing his commitment to reforming the U.S. healthcare system. Responding to criticisms about his wealth and its potential impact on hunger, he shifted focus to his efforts with Cost Plus Drugs, which aims to make medications more affordable. Cuban's approach highlights the complexities of philanthropy and responsibility among wealthy individuals, as he seeks to navigate systemic healthcare issues instead.

Demographic Changes at Irs Affect Tax Filing Services Δ1.73

The Trump administration's Department of Government Efficiency (DOGE) team led by Elon Musk has fired the 18F tech team responsible for building the free tax-filing service and revamping government websites, citing them as "non critical." The move follows a public feud between Musk and the 18F team, with Musk calling them a "far-left" group. This change in leadership may impact the development and maintenance of the IRS's digital services.

Tech Industry Unites to Provide Laptops and Internet for Wildfire Survivors Δ1.72

More than 400 residents affected by recent wildfires will receive free laptops and internet access as part of a major relief effort, marking a significant contribution from the tech industry to support those in need. Human-I-T, a nonprofit dedicated to closing the digital divide, has partnered with the City of Pasadena, Laserfiche, and other organizations to provide critical technology. The initiative aims to help affected residents stay connected, access essential resources, and begin rebuilding their lives.

Tech Giants Have Pledged Over $1 Trillion in US Investment, So Far Δ1.72

US Tech Investments Are Ramping Up Under Trump's Watch With the latest pledge from Taiwan Semiconductor Manufacturing Co., a growing list of major tech companies has committed to a combined total of over $1 trillion in investments for manufacturing facilities and research centers across America. These massive pledges demonstrate the President's successful ability to promote business investment, which can be seen as an accomplishment of his 'America First' agenda. Notably, many of these commitments have come from Taiwanese firms like TSMC, underlining Trump's diplomatic efforts.

US Government Cuts Key Software Division without Warning. Δ1.72

The US government's General Services Administration department has dissolved its 18F unit, a software and procurement group responsible for building crucial login services like Login.gov. This move follows an ongoing campaign by Elon Musk's Department of Government Efficiency to slash government spending. The effects of the cuts will be felt across various departments, as 18F collaborated with many agencies on IT projects.

TSMC to Invest $100B as Trump Demands More US-Made Chips, Report Says Δ1.72

TSMC is set to invest $100 billion in expanding its semiconductor manufacturing capabilities in the United States, according to a recent report. This move comes as President Trump pressures the company to increase domestic production, citing national security and economic concerns. TSMC's expansion plans aim to bolster the US technology sector and mitigate potential losses due to trade tensions.

Government Backs Billions In Contracts For Elon Musk Businesses Δ1.72

A recent Washington Post analysis found that Elon Musk's companies have received at least $38 billion in government contracts, loans, subsidies, and tax credits over the past two decades. While Musk has often pushed for cutting government spending, his businesses have benefited enormously from taxpayer money. Nearly two-thirds of the funds Musk's businesses received came in just the last five years.

Exclusive: Dealmaker Michael Grimes Expected to Lead New US Sovereign Wealth Fund, Sources Say Δ1.72

Michael Grimes is poised to helm a new U.S. sovereign wealth fund, with plans to be financed through tariffs imposed on foreign countries, which could potentially create a precedent for similar investment vehicles in other countries. The fund's creation and operation will require congressional approval and careful navigation of competing priorities and big personalities within the Trump administration. Grimes' experience leading high-profile tech IPOs at Morgan Stanley and advising Elon Musk on deals involving Tesla and Twitter positions him well to spearhead the effort.

Mass Layoffs to Hit Veterans' Affairs as Early as June Δ1.72

The Department of Veterans Affairs will begin mass layoffs, targeting more than 80,000 workers, in an effort to reduce the agency's size by at least a fifth. The planned cuts, which could be finalized by June, have been met with criticism from Democrats and some Republicans, who argue that they threaten veterans' health benefits. The layoffs are part of a broader effort by President Donald Trump and billionaire adviser Elon Musk to slash the federal government's workforce.

Federal Worker Layoffs: A Growing Concern Among Americans Δ1.72

A near-record number of federal workers are facing layoffs as part of cost-cutting measures by Elon Musk's Department of Government Efficiency (DOGE). Gregory House, a disabled veteran who served four years in the U.S. Navy, was unexpectedly terminated for "performance" issues despite receiving a glowing review just six weeks prior to completing his probation. The situation has left thousands of federal workers, including veterans like House, grappling with uncertainty about their future.

Elon Musk's DOGE May Bring Some Pain to These 4 High-Growth Restaurant Stocks Δ1.72

Elon Musk's initiatives to reduce government employment through his Department of Government Efficiency (DOGE) are projected to adversely affect sales at fast-casual restaurants like Cava, Shake Shack, Chipotle, and Sweetgreen, particularly in the Washington, D.C. area. Bank of America analysts highlight that a significant portion of these chains' business relies on government workers, whose diminished presence due to layoffs could lead to reduced foot traffic and sales. The ongoing decline in jobless claims in D.C. signals a challenging environment for these restaurants as they adapt to shifting consumer behavior driven by workforce changes.

US Invests Heavily in Chip Manufacturing with TSMC Δ1.71

The U.S. government, led by President Donald Trump, has announced a significant investment of at least $100 billion in chip manufacturing capabilities through Taiwanese company TSMC, with plans to build three new facilities and generate 20,000-25,000 jobs. The move is seen as crucial to strengthening the country's domestic manufacturing footprint amid rising tensions between the U.S. and China. This investment will also enable TSMC to expand its production of advanced AI chips for major tech firms.

Palantir's Government Contracts Boost Amid Pentagon Cuts Δ1.71

Palantir has announced a significant contract win with the U.S. government, marking a major victory for the company in a period of reduced defense spending. The recent selloff in Palantir stock was misguided due to the company's "unique software value proposition," according to analysts, who predict that initiatives by Elon Musk's Department of Government Efficiency will actually boost demand for Palantir's services. With many existing contracts at high priority and not at risk of getting cut, Palantir stands to gain from the Trump administration's focus on AI.

Tsmc and Trump Announce $100 Billion Investment in the Us, Including Three Fabs Δ1.71

TSMC is investing $100 billion in the United States, with a focus on building three fabrication facilities (fabs), two packaging facilities, and a research and development center. The investment will primarily be located in Arizona, with plans to create tens of thousands of high-paying jobs. TSMC's move to the US is seen as a response to global supply chain disruptions and geopolitical tensions.

Federal Workers Hit with Second Wave of Emails Demanding Job Details Δ1.71

The Trump administration has sent a second wave of emails to federal employees demanding that they summarize their work over the past week, following the first effort which was met with confusion and resistance from agencies. The emails, sent by the U.S. Office of Personnel Management, ask workers to list five things they accomplished during the week, as part of an effort to assess the performance of government employees amid mass layoffs. This move marks a renewed push by billionaire Elon Musk's Department of Government Efficiency team to hold workers accountable.

TikTok Bid Adds Strategic Depth with Alexis Ohanian's Involvement Δ1.71

Reddit co-founder and investor Alexis Ohanian has joined billionaire Frank McCourt's bid to acquire TikTok, bringing strategic advisory expertise in social media. The move comes as part of a consortium called The People's Bid, which aims to purchase the U.S. assets of TikTok. This acquisition would allow users to control how their data is used and stored.

Donating to the Police: Cybertruck Fleet Gift Raises Questions About Influence and Transparency Δ1.71

Ben Horowitz's donation of a fleet of Tesla Cybertrucks to the Las Vegas Metropolitan Police highlights the blurred lines between corporate giving and executive influence. The move comes as Horowitz has previously donated millions to the department through its nonprofit foundation, raising concerns about transparency and accountability in police funding. As the relationship between tech giants and law enforcement agencies deepens, it remains unclear whether such donations can be effectively regulated.

NGO's Newspaper Ad Asks Americans for Donations After Trump's Drastic Aid Cuts Δ1.71

The International Rescue Committee (IRC) has launched a full-page advertisement in the New York Times, urging Americans to donate to support hundreds of millions of people in need following drastic cuts in U.S. foreign aid. The IRC claims that 46 government grants have received termination notices, which would deny critical services to at least 2 million people across multiple crisis zones. This move highlights the severe consequences of the Trump administration's "America First" policy on humanitarian aid.

The Crypto Industry Got What It Paid For Δ1.71

President Donald Trump's proposal for a U.S. Crypto Reserve aims to reward his billionaire crypto donors while potentially undermining the U.S. dollar's position as the world's reserve currency. Critics argue that this initiative could lead to taxpayer-funded bailouts for volatile cryptocurrencies, which are often associated with criminal activities and speculative trading. The proposal raises concerns about the implications for fiscal policy, economic stability, and the effectiveness of U.S. regulatory authority over digital assets.

CPFB Under Siege: Trump's Plan to Fire Nearly All Employees and Wind Down Agency Δ1.71

The Consumer Financial Protection Bureau (CFPB), a key regulator of the financial industry, is facing a critical threat from the Trump administration and Elon Musk's Department of Government Efficiency (DOGE). The CFPB plans to fire nearly all 1,700 employees while "winding down" the agency, according to testimony from employees. This move aims to restore full founder ownership and maintain KAYALI's independence under Kattan's leadership.

Venture Capital to Women-Founded Startups Declines but Finds Glimmer of Hope Δ1.71

Despite a decline in venture capital funding for women-founded startups, which dropped by 12% in 2024, the report found that female founders are increasingly successful in deep tech sectors. According to Female Foundry's report, women who founded deep tech startups are raising more than men in this area, and these startups are securing significant investments. The report also highlights areas of innovation such as synthetic biology, generative AI, and drug development.

Bill Gates' $100 Billion Donation Pledge: A New Era for Philanthropy Δ1.71

We've compiled a list of stocks that Bill Gates recommends investing in, with Microsoft Corporation (NASDAQ:MSFT) standing out as one of the top choices. As one of the wealthiest individuals, Gates has dedicated his fortune to charitable causes and philanthropic efforts through the Bill & Melinda Gates Foundation, which boasts a significant impact on public health, poverty reduction, education, and climate change initiatives. The foundation's substantial donations have contributed to major breakthroughs in vaccine research and immunization efforts worldwide.

Tariffs Take a Toll on Tech Stocks Δ1.70

Nvidia's shares fell on Monday as concerns mounted over AI-related spending and the impact of new tariffs set to take effect. Shares of Palantir were up on Monday as Wedbush analyst said the company's unique software value proposition means it actually stands to benefit from initiatives by Elon Musk's Department of Government Efficiency. The chip manufacturer seems cautious about limitations on the export of AI chips.

US to Name Morgan Stanley Banker to Lead Sovereign Wealth Fund Δ1.70

The Commerce Department is appointing Michael Grimes, a former Morgan Stanley banker, as the lead executive for a planned sovereign wealth fund, marking a significant development in President Trump's efforts to create a US-based investment vehicle for national security projects. The fund, which remains in its early stages, would aim to promote American investments in key sectors such as critical minerals, rare earths, and defense technology. Grimes' appointment underscores the administration's commitment to leveraging private sector expertise to drive strategic investments.