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- What this bankruptcy says about AI startups
- Trump's student loan overhaul could lead to more bankruptcy filings, former judge says
Former bankruptcy judge Sarah Sharer Curley, who presided over cases for nearly three decades, recounts in her new book a 73-year-old woman who in 2012 had a student loan balance of more than $584,000 dating back to the 1970s. She says strict bankruptcy laws make discharging student loans nearly impossible; in this case, the federal government would not agree to any settlement, so she could only credit seven years of public service, reducing the remaining repayment to three years. Curley argues the Education Department was gutted in 2025, leaving few if any staff who could approve debt modifications, which makes settlements harder to reach. Citing the Administrative Office of the U.S. Courts, she notes more than half a million personal bankruptcy cases were filed in 2025, an almost 50% rise from three years earlier. She stresses that many filers are not unemployed but live paycheck to paycheck, with job loss, chronic illness and rising medical or education costs among common causes.
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- Meta Q3 earnings to test Wall Street's stomach for AI spending
Meta is set to report third-quarter results after the bell on Wednesday, kicking off Big Tech's earnings season. Bloomberg analyst consensus expects EPS of $3.56 on revenue of $63.3 billion, versus $1.05 and $51.2 billion a year earlier, while capital expenditures are projected to rise 117% to $41 billion. Reality Labs is expected to post a $5.2 billion operating loss. The results come as investors weigh AI spending, including CoreWeave's (CRWV) debt load, and Meta stock is down more than 3% over the past year. Meanwhile, its Muse AI agent reached 10 million downloads 40 days after its US launch, faster than ChatGPT and Claude, and BofA says Meta has the least risk of AI disruption to its core business.
- General Mills Stock Is Down 30%, and Wall Street Analysts Keep Cutting Their Price Targets. Here's Why History Says They're Missing the Bigger Picture.
General Mills shares are down around 30% over the past year, while the average consumer staples stock is up nearly 10%, and Bank of America and Evercore ISI cut their price targets after fiscal first-quarter 2027 results. Sales fell 3% and organic sales were flat, an improvement from the 5% drop and 2% organic decline a year earlier, with food service and international businesses growing. The article says the company is adjusting after cutting prices in fiscal 2026, but the dividend is a risk: adjusted EPS of $0.75 against a $0.61 dividend implies a payout ratio of roughly 80%. With a 7.3% yield, investors are paid while they wait for a turnaround, and a 27-year company veteran becomes CEO at the start of 2027.
- Opendoor Is Now Down 64% This Year: Is OPEN Stock a Falling Knife or Poised for a Comeback?
Opendoor shares rose 2% to $2.09 in afternoon trading but remain down 64% year to date, while the SPDR S&P 500 ETF Trust is up 13%, as its balance-sheet-heavy iBuying model faces a frozen housing market. The 10-year Treasury yield, which guides mortgage rates, stood at 5.09% on October 16. Q2 2026 revenue fell 43.6% YoY to $883 million and the GAAP net loss grew to $162 million, though acquisition volume is rising and homes listed over 120 days fell to 9% from 36%. Management expects Q3 2026 revenue to grow at least 20% YoY and targets positive adjusted net income by year-end, and the upcoming report will show whether the stock bounces or keeps falling.
- Bitcoin ETFs Post Their Best Day in Nearly a Month as BlackRock Does All the Buying
U.S. spot Bitcoin ETFs drew $526.7 million on Oct. 19, their largest single-day inflow since $714.7 million on Sept. 22, ending two weeks of selling that shed about $910 million. BlackRock's IBIT took in $665.2 million, while Fidelity's FBTC lost $83.6 million and Grayscale's GBTC lost $54.9 million, cutting October's net outflows to roughly $88 million from about $615 million. Ethereum ETFs lost $103 million and Solana ETFs $6.7 million the same day, while Bitcoin hovered near $82,000, close to the $82,300 average cost basis estimated for ETF holders. The article links the broader pressure to expected Federal Reserve rate hikes, citing a 3.7% CPI rise over 12 months, a 20.4% jump in energy prices, and a 10-year Treasury yield above 5% that competes with yield-free Bitcoin.
- Ten Million Downloads in Six Weeks: The Fight for the AI Agent in Your Pocket Has Started
A new personal AI agent launched on September 8 has been downloaded 10.9 million times in six weeks, according to Sensor Tower data, with more than 10.2 million downloads in the U.S. Its daily active users reached about 2.5 million for the first time on October 16, up 15% week over week, and Sensor Tower says only 11 other apps have hit 10 million U.S. downloads within 40 days. Over the past 30 days, U.S. downloads of a leading chatbot app fell 25%. A Deutsche Bank analyst projected the product could account for up to 8% of its parent company's revenue by 2030, roughly $36 billion, with a low-end estimate of $2.4 billion. The article notes that Meta, Yelp, Snap, SoundHound and Nextdoor are also building their own AI agents.
- Amazon Creates Over 300,000 New U.S. Jobs This Holiday Season with Increased Pay and Expanded Benefits
Amazon is hiring more than 300,000 people for seasonal, part-time and full-time roles across its U.S. core operations network this holiday season. Starting January 1, 2027, eligible seasonal employees working at least 30 hours a week will get healthcare coverage from their first day, with plans starting at $5 a week and $5 copays. Seasonal workers earn an average of $20 an hour, while full-time core operations employees start at a minimum of $20 an hour, with average pay nearly $24 and total compensation including benefits exceeding $32 an hour. Amazon also cites more than $1.5 billion in higher pay for its U.S. core operations workforce, plus uncapped discounts of 10% on eligible groceries and essentials at Amazon.com and Whole Foods online, and 20% at Whole Foods stores.
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