money

falsify expense notes and make money with them

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Artificial intelligence is becoming a real headache for the accounting departments of many companies, and not precisely because of the automation of tasks that it requires. can leave you without work. Now, the big threat comes from an unexpected source: the ease with which fake expense receipts can be generated thanks to the skills of generate images hyperrealistic with AI. AI at the service of fraud. Until recently, expense fraud was concentrated in already known areas: small traps in subsistence, transportation or purchase receipts that employees presented for reimbursement. However, as highlighted by a published article in it Financial Timesthe number of refund requests based on falsified receipts has increased dramatically in recent months. As detailed in the analysis From AppZen, since OpenAI launched ChatGPT and Google launched its Gemini with image generative AI, expense receipt fraud has increased by 14%. The problem is not that they have increased since then, but that they have improved their quality so much that each time it is more difficult to detect them. “These receipts have gotten so good that we tell our customers, ‘don’t trust your eyes,’” Chris Juneau, senior vice president and director of product marketing at SAP Concur, told Financial Times. Indistinguishable receipts. As they practically showed on the podcast The Accounting Podcastgenerating receipts for fraudulent expenses that can pass as authentic, is within anyone’s reach. It’s not even necessary be a paying user from ChatGPT or Gemini. With just a handful of commands entered with a natural language In ChatGPT, the ticket obtained would fit perfectly as one of the thousands of receipts for food or transportation expenses that companies process daily. AI to detect AI. It may seem that the problem of counterfeit tickets is a minor problem because they involve relatively small amounts. However, the average economic loss from false receipt fraud in the US is $133,000 on average, according to a survey prepared by Medius in 2024 to senior financial executives. The expansion of this type of financial fraud has reached the ears of OpenAI, one of the main generators of these receipts, has taken letters in the subject including metadata in your images to identify that it is AI-generated content. This has allowed fintech companies like Ramp to develop AI-based tools that analyze the metadata of this type of receipts to stop fraud. The fintech claimed that with this software it had detected false receipts worth one million dollars in just 90 days. The law is made, the trap is made. Faced with this movement to detect fraudulent receipts through metadata, “cheating” employees have also chosen to refine their techniques using more ingenuity: take a photo of the receipt generated by AI and attach it as a receipt, just as you would do as a real receipt. That way, the image no longer includes the AI ​​agent’s metadata, returning to square one. “It will be a continuous arms race. We just have to stay ahead,” he said. in statements to Bloomberg Karim Atiyeh, co-founder and CTO of Ramp. Spending patterns. In response to this new strategy, AI uses what it does best: analyze patterns. These expense receipt “verifier” agents take into account the context in which these receipts could have been generated if they were authentic (travel schedules, date coincidences, repetition of names, etc.). Based on this data, the system determines whether the receipt is false or not, without needing to verify the metadata. “Technology can analyze everything in such detail, so much so that humans, after a while, miss things; they are human,” he assured the Financial Times Calvin Lee, Senior Director of Product Management at Ramp In Xataka | 81% of interviewers suspected AI cheating in interviews: 31% confirmed it without a doubt and put a stop to it Image | Gemini

Anthropic is spending much more money than it brings in. The question is how long can it continue like this?

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How much does AI cost? That question can be answered by AWS, which has billed Anthropic a whopping $2.66 billion so far this year. The problem is twofold, because in that same period it is estimated that Anthropic has earned 2.55 billion dollars, so with that alone it has spent more than it earns. But Anthropic has many more expenses and the accounts, once again, do not work out in the AI ​​segment. Why is it important. The data revealed by Ed Zitron confirms the problem they face all AI startups: They spend (much) more than they earn, and that trend does not seem to be reversing. In fact, although these companies are growing in revenue, they are also growing proportionally in expenses. And the question, of course, is whether this pace is sustainable. The Anthropic case. According to Zitron data, in 2024 Anthropic earned between $400 and $600 million, but spent $1.35 billion on AWS, that is, 226% of its income. The trend appears to continue in 2025, because the share of spending on AWS is 104% of its revenue. It seems that things have improved, but that expense does not include what it costs Anthropic use Google Cloud infrastructureanother of its partners in all its operations. The expenditure on it is also likely to be enormous, which complicates the situation. The mystery of unexplained costs. The unaccounted cost gap is also enormous. In 2024 Anthropic’s total spending was estimated at 6.2 billion dollars. If we know that he spent $1.35 billion on AWS, there is $4.85 billion left that is not explained. That suggests that spending on Google Cloud and other operational costs is absolutely astronomical. In fact, computing costs may be much higher than we thought. Another startup desperate for investment. Meanwhile, Anthropic continues to raise capital. Zitron analysis reveals that between 2023 and 2025 achievement raise investment rounds for a total of 37.5 billion dollars (20,000 of them in 2025 alone). A good part of that money came precisely from the companies that provide infrastructure: Amazon and Google. Despite that funding, Anthropic appears as desperate as OpenAI to raise new rounds of investment. The company run by Dario Amodei recently resorted to money from Middle Eastern countries, for example. Spending continues to skyrocket. The study figures further reveal that Anthropic spends more the more time passes. In January 2024, it spent $52.9 million on AWS, but in December 2024 that amount rose to $176.1 million. In September 2025, it is estimated that spending on AWS was no less than $518.9 million: the escalation in costs is very notable. And he tightens the screws on Cursor. One of Anthropic’s most important clients is the startup vibe coding Cursor. This company has clearly been affected by that situation, and Cursor’s costs on AWS doubled from $6.19 million in May 2025 to $12.67 million in June. Just in those Anthropic months implement the so-called “Service Levels” with which it forced business customers to spend a minimum amount and pay higher rates for prompt caching, a special component designed for startups that use generative AI models for programming. What did Cursor do? Increase prices (and apologize for it) of your customer subscriptions. This can’t go on like this forever. For Zitron, always very critical of this reality of AI companies, the conclusion is clear: Anthropic’s costs are out of control. In fact, he argues that they increase practically linearly with respect to revenue, which makes their business model unsustainable. The only solution is to increase prices drastically (possibly 100%) to become profitable. The problem is that the market accepts paying twice as much at once for AI as it currently pays for. Image | Anthropic | Taylor Vick In Xataka | Anthropic says Claude Sonnet 4.5 can clone a service like Slack in 30 hours. The reality is more complicated

give you money to buy a house

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In a context in which the housing is one of the main actors of territorial inequality In Spain, some rural municipalities have decided to intervene by directly offering money to whoever is willing to move and buy. We are not facing a “return to the countryside”, but rather public programs with specific amounts designed to reverse decades of population loss and to reactivate areas where the demographic decline has already had visible consequences in services, economic activity and social structure. National panorama. It is estimated that more than 3,400 municipalities Spaniards have been at structural demographic risk for years. They occupy almost the entire interior territory, but they barely concentrate the 10% of the population. The cumulative output of inhabitants deteriorated schools, commerce and employment, which in turn accelerated emigration to large cities. That loop has been difficult to reverse with soft incentives. Hence, the novelty of the current moment is the leap to material incentives to try to generate real population movement in the opposite direction for the first time in decades. Urban crisis and opportunity. While the rental and purchase markets in capitals such as Madrid, Barcelona or Malaga have become directly prohibitive For average incomes, much of inland Spain has a inverse problem: abundance of empty houses, low demand and shrinking economic bases. Urban pressure and rural emptying are not separate phenomena, but rather two sides of the same territorial asymmetry. And that is where the logic of pay to move: displace population where there is idle capacity and alleviate, at least on the margin, the residential saturation of metropolitan areas. An idea that already we had seen beforenot only in Spain, also in Italy. The DIVA program. He DIVA plan in the north of Cáceres it is possibly the clearest and most quantified initiative. Offers up to 15,000 euros to people who move to the towns in the region and telework from there, yes, with a minimum registration obligation of 24 months (and 36 for full payment) and accredited continuity of remote work activity. The overall endowment amounts to 200 million and its stated goal is to attract about 200 new stable residents. It does not finance residential tourism or second homes: it requires effective permanence and sustained employment relationships over time. Castilla y León. Here the Board grants up to 2,000 euros to families who move to small municipalities and acquire housing there. The amount starts at 1,000 euros for units without children and goes up to 2,000. for families with minors. The aid is processed after registering and requires establishing residence effective in the municipality. The objective is to induce purchase and roots in localities that have been losing density for decades, reinforcing stable tenure as a mechanism of permanence. Valladolid. The Provincial Council guide the program to young people from 18 to 36 years old in towns with less than 20,000 inhabitants, with income limits of up to 33,600 euros per year. For purchase with a mortgage it covers up to 10 installments (maximum €4,000), and for rehabilitation it covers up to 80% of the technical fees also with a limit of €4,000. The design seeks to lower the initial financial entry barrier to rural property among profiles that, without incentive, would choose to remain in stressed metropolitan areas. Rioja. He Revive Plan grants between 20,000 and 40,000 euros to those who buy housing in municipalities with less than 5,000 inhabitants and occupy it as their habitual residence. The maximum amount is reserved for towns of up to 500 inhabitants where depopulation is more acute. The property cannot exceed 180,000 euros and it must be inhabited within a maximum period of time after the purchase, maintaining a minimum residence of five years. The incentive does not finance rotation: it requires roots measurable in time. Navarre. Navarre guide the help to those under 35 years of age who buy housing in towns with less than 5,000 inhabitants or in non-urban areas up to 20,000. The subsidy is calculated as a percentage of the price with limits per square meter, so that an 80 m² apartment below 153,827 euros can be partially subsidized. The final requirement is habitual residence. The program is not about subsidized rent, but rather about establishing ownership as a mechanism for demographic return. Conditions, intention and limits. All programs share or repeat two traits: They seek continuous residence, not opportunistic mobility, and subordinate the aid to documentary proof of real roots (registration, habitual use, periods of permanence and, in the case of Ambroz, effective teleworking). The design, as we said at the beginning, seeks to induce functional repopulationnot symbolic. Of course, its scope is limited in scale, but it represents a phase change: for the first time there is competition for population with direct incentives. In a country where the cities seem to be expelling the citizens for the cost, and the interior collapses due to vacuumpaying to move stops being an anecdote and becomes an instrument of territorial policy. Image | Diego Delso In Xataka | The pistachio has worked an unexpected wonder: generating thousands of jobs in the fields of Castilla-La Mancha In Xataka | In rural Salamanca someone has had an idea to revitalize the towns: give you the bar

“I told Musk not to donate his money, it would end up in organizations chosen by Bill Gates”

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Peter Thiel is one of the most influential and controversial names in the technology world, known both for his business success with projects such as PayPal or Palantir, and for his unconventional ideas. about education either religion. Recently, Thiel has generated a lot of debate after Reuters had access to recordings of a series of private conferences in which he warned Elon Musk about where his fortune could end up if he donated it to the wrong people. Peter Thiel and his influence in Silicon Valley. Peter Thiel is a key figure in Silicon Valley, being one of the founding members of the so-called “PayPal mafia“, a group of businessmen who revolutionized technology and currently accumulate great economic and political power. Their role as mentor and investment partner of other majors in the sector, like Mark Zuckerberghas allowed him to control venture capital funds that drive many decisive companies in the San Francisco Bay Area. One of the figures with whom Thiel has had a particularly complex relationship is Elon Musk, with whom he founded the company PayPal. In transcripts seen by Reuters of Thiel’s private talks, he explained how he warned Musk against donating his fortune to Bill Gates through The Giving Pledgean agreement by which millionaires agree to donate a large part of their assets to social causes. Thiel told his audience: “I told (Elon Musk) that his money would end up in the hands of organizations selected by Bill Gates.” In response to this message, the millionaire said that Musk responded: “What am I supposed to do, give it to my children? It would be worse to give it to Bill Gates,” is recorded in the leaked transcripts. Then Musk ruled out Gates. A few years ago, Bill Gates and Elon Musk held a series of meetings in which Gates proposed a series of impact investments in which the founder of Space X could be interested in investing philanthropically through the Gates Foundation. Within the framework of this approach, the founder and his son Rory They even visited the Tesla factory in Austin. However, when Musk’s donation commitment seemed to come to fruition, the South African millionaire suddenly changed his mind and he sent Gates away in bad waysblaming him for how incoherent that someone who claims to fight against climate change would have short positions (at losses) of a company like Tesla, which worked to reduce fossil fuels. From that moment, the relationship between Musk and Gates they have been like water and oil. Thiel’s story in which he advised Musk to distance himself from Gates, and the abrupt breakdown of philanthropic talks with the Microsoft founder could be related. The fear of global power and the figure of the “Antichrist”. According what was published by Guardianthe transcripts also revealed other concerns of Thiel, who in his workshops warned about the risk of the emergence of a figure of global power, which he figuratively called “Antichrist”, who could emerge from the dominance growing of artificial intelligence. According to Thiel, this entity, which represents a form of power, could be presented as a solution to face global crises such as the climate change or nuclear threatsbut in reality it would end up limiting individual freedoms and promoting a uniformity of thought. As and as pointed out Fortunethis concern is based on his personal interpretation of the biblical text and what he considers the danger of developing science without a solid ethical basiswhich could generate a global system that demands obedience in exchange for order and security. Technology will set you free. Peter Thiel argues that large technological fortunes should not be donated to charitable causes, but rather, in his words, “large technological fortunes should be used to protect human freedom” from the risk of a centralized global system that controls the flow of capital and innovation. The millionaire warns that, if governments and international institutions control investments and innovation, could curb creativity and human potential under the pretext of global security. The Twitter purchase on the part of Elon Musk, his involvement in the Trump campaign and his subsequent role in DOGEshow that Thiel’s words have influenced Musk to reconsider his commitments and think about how to protect the legacy of his fortune in the face of these concerns. In Xataka | Some millionaires didn’t like the ideology of universities, so they created their own university: an “Anti-Woke” Image | Flickr (Gage Skidmore, Statsministerens kontor)

Amazon kept losing money on its Echo devices. He has found a way to stop the bleeding: flood us with ads

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Amazon has been losing a fortune with their Amazon Echo devices. Connected speakers and displays are in millions of homes, but they have never been profitable. The company’s hope was that they would become a vehicle to sell more products on its e-commerce platform, but that goal was never met. Now Amazon has found a way to get a lot out of them: to put advertising in them for good. Lots of advertising. Why is it important. Amazon has just launched on the market your new Echo Show and Eco Dot. Prices have risen in all cases, but they also arrive with Alexa+ —although not in Spain at the moment—, the AI ​​assistant that the company has been working on for several months. These products are supposed to offer important advantages in the user experience, but at the moment what is happening is that these devices are displaying advertisements frequently. Wasted. Between 2017 and 2021 Amazon lost more than $25 billion with its Amazon Echo. The idea seemed good: they could sell them at a loss if they later amortized them by converting them into products to sell us things. Instead, users ended up taking advantage of them for little more than setting timers and musicand that has ended up being a huge problem for Amazon. Ads everywhere. There are several users of Amazon’s connected screens—the Echo Show—who are seeing surprise ads appear on these screens. a user Reddit account how the alarm clock feature on your Echo Show 5 became an annoying ad. Other user checked that in addition to one advertisement, songs that he had not specified were playing, while another he complained about how his Echo Show kept advertising the Amazon Plus service. Ads now appear more frequently on Prime Video. Source: Xataka. Flooded with advertising. These screens don’t stop showing ads, match other users, but in addition none of those users accepted that their devices could be used to display advertising, and there is no switch or configuration parameter that stops this behavior. Even people who are paying $20 for Alexa+, Amazon’s new AI assistant, are complaining from all that advertising avalanche. Also on Prime Video. Personally, I don’t have an Echo Show, but I have noticed that when enjoying series and movies on Prime Video, advertisements are broadcast with greater frequency and duration. I am not he only (not much less). Amazon allows customize preferences regarding advertising, but those who have done it affirm that this does not hardly reduce the frequency with which advertisements appear. What Amazon says. An Amazon spokesperson stated the following: at Ars Technica: “Advertising is a small part of the experience and helps customers discover new content and products they may be interested in. If customers don’t like a suggestion, they can swipe to the next card on the screen or directly provide feedback by tapping the info icon or tapping the screen.” If you move away, I announce to the song. The Amazon Ads website details the ad formats, and the text explains that “The ad viewing experience dynamically adapts based on the customer’s proximity to the device.” Once it is detected that the user is more than 1.2 meters away from their device, “the ads are displayed in full screen alternating with other content, such as the weather, recipes, sports and news.” This seems to be getting worse. The latest comments seen on Reddit or on X (formerly Twitter) seem to make it clear that Amazon is increasing the amount of advertising it displays on its devices and services. The question, of course, is how far they will go… and how that will impact both sales of their devices and subscriptions to their platforms. In Xataka | Amazon missed the AI ​​train, but it wants to catch it back. The new Alexa with AI will arrive this month to try it

Ten banking giants are going after stablecoins. They are trying not to miss the digital money train

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A consortium of ten of the world’s largest banks, including Bank of America, Goldman Sachs, UBS, Santander and BNP Paribas, have announced that they are exploring creating their own stablecoins, according to Reuters. Why is it important. It is the first time that a consortium of this magnitude has officially reacted to the threat posed by stablecoins (stablecoins) for your business. What has happened. The consortium has made this announcement regarding this development. They would be digital assets anchored 1:1 to the main G7 currencies (dollar, euro, pound, etc.) and, key, they would work on public blockchains, the same technology used by the crypto world. The advertisement seeks to stand up to the absolute dominance of Tethera single company that currently manages a volume of 179 billion dollars outside the traditional banking system. The small print. This movement does not come so much in a context of innovation as in a crisis management room: The money that Tether moves is money that escapes the control and commissions of the SWIFT system. The bank is not creating something new, it is trying to build its own version of something that already exists, works on a large scale and is taking over their ground. The great contradiction is that, to compete, they must use a technology (blockchain) designed explicitly to eliminate intermediaries. The business model of a bank is, precisely, to be that intermediary. They are forcibly adopting the foundations of technology that threatens to erode an increasing part of their business. And now whatand. The ball is now in the court of governments and central banks. For a regulator, a stablecoin issued by a private bank continues to be a threat to monetary sovereignty. This movement only serves to hurry them up in the development of their own digital currencies (the famous CBDC). A CBDC controlled by the European Central Bank or the Federal Reserve could, in the long term, render obsolete both stablecoins of Tether as those now proposed by banks. The banking consortium, in its attempt not to be left behind, may have only managed to accelerate the arrival of a much more powerful competitor: the State itself. In Xataka | It is not bitcoin or Ethereum: Tether is the stablecoin that has turned its creators into emperors of finance Featured image | Alicja Ziajowska

This is how the money is distributed in the neighborhoods and municipalities of Spain

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On the streets of Spain, the standard of living can change radically from one apple to another. The environment that a person finds when leaving home, the parked vehicles, the diversity of stores or the simple appearance of the buildings tell part of a deeper and more complex story. Behind these everyday differences, the data reflects the extent to which geographic location reflects economic level and the well-being of its inhabitants. The published statistics This week by the Tax Agency they show a growing gap that crosses cities and neighborhoods, making it clear that wealth and poverty do not usually live in the same zip code. Where wealth is concentrated. The richest neighborhoods in Spain They are recorded in residential areas on the outskirts of the large urban centers of Madrid and Barcelona. La Moraleja (Alcobendas, Madrid) stands out for another year with 196,429 euros of average gross income, followed by Ciudalcampo (San Sebastián de los Reyes, Madrid) with 121,838 euros and Fuente del Fresno (also in San Sebastián de los Reyes) with 108,354 euros. Outside the capital, the Vallvidrera-Tibidabo i Les Planes neighborhood, on the eastern edge of Barcelona, ​​occupies fourth place with 107,513 euros. Without leaving the city of Barcelonathe neighborhoods of Muntaner (106,734 euros) and Pedralbes-Sarriá (104,963 euros) complete the list of the richest in Spain. We have to reduce several tens of thousands of euros in rent to find a neighborhood outside the scope of these two cities, until we reach the Valencian Massarrochos-Santa Bárbara, with an average gross income of 81,807 euros. The neighborhoods with the least income. The opposite extreme is represented by Torreblanca, in Seville, which according to records According to the Tax Agency, it was ranked as the area with the lowest average gross income in all of Spain during the year 2023, reaching only 11,354 euros annually. Despite this figure, the neighborhood itself improves slightly compared to previous years. However, the gap between the highest and lowest average income centers remains abysmal, standing at over 185,000 euros difference. Other neighborhoods with low income are Nou Alacant (Alicante, 16,868 euros), Cortijos de Marín (Roquetas de Mar, Almería, 17,210 euros), Carrús-Plaza Barcelona (Elche, 17,670 euros) and Ciudad Jardín (Alicante, 19,000 euros). Given these data, it is worth highlighting the enormous gap that exists between the neighborhoods with the highest and lowest incomesreaching a difference of up to 185,000 euros on average between La Moraleja and Torreblanca. Origin of wealth in the neighborhoods. The nature of wealth also changes depending on the neighborhood in which you live. For example, only 58.55% of the income of the residents of the richest neighborhoods comes from a salary, while 17.79% corresponds to capital returns, 10.68% is earned from economic activities and 11.53% comes from of capital gains. However, in lower-income neighborhoods there is a greater dependence on labor income direct and there is very little generation of passive or patrimonial income. The salary of the residents of these humble neighborhoods represents more than 75% of the total average annual income. In the case of Torreblanca, the poorest neighborhood in Spain, the weight of salaries in the total declared income reaches 75.18%. For its part, capital income barely represents 0.22%, economic activities 1.83% and capital gains only 0.47%. Wealth and poverty in the shadow of big cities. It is enough to open the focus a little more to discover that the municipalities with the highest average income are clearly concentrated in the communities of Madrid and Catalonia. Pozuelo de Alarcón, in Madrid, repeats as the richest municipality in Spain with an average income of 88,011 euros in 2023, 3.15% more than the previous year. They are followed by Boadilla del Monte (Madrid) with 70,869 euros and Sant Just Desvern, in Barcelona, ​​with 67,265 euros. In total, five Madrid and four Catalan municipalities appear among the top ten on this list. At the other extreme, the municipalities with the lowest incomes are located mainly in Andalusia and Extremadura. Benamargosa, in Malaga, is the poorest, with an average income of only 13,831 euros. It is followed by other Andalusian municipalities such as Guadahortuna and Colomera, both in Granada, with around 14,000 euros of average income. The difference between Pozuelo de Alarcón and Benamargosa is 74,180 euros, which, as we already saw in the breakdown of the neighborhoods, also shows great economic inequality between areas of the country. In Xataka | The list of the richest people in Spain in 2025: many changes in the figures, but not in the protagonists Image | Unsplash (Yzy Pop, John Fornander)

not for money, but to feel useful again at work

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In recent years, something surprising is happening among those who occupy management positions in companies: many leaders no longer want to continue promoting or change companies and prefer to return to find motivation in his own position. The latest report ‘2025 Workplace Engagement Report’ made by Kahoot! points out that 46% of the managers consulted would be willing to leave their position in the company simply to feel comfortable again. committed to his daily work. This trend coincides with an environment in which motivation and a sense of purpose are becoming a priority for employees. Being in a thousand things, but not being in any. One of the effects of “hustle culture” is that excess workload or responsibilities overshadows the real motivation for the work being done, creating a kind of abstraction among those who lead teams. The data obtained by Kahoot! They point out that only 47% of the leaders surveyed consider themselves “completely involved” in their work, although 79% believe that their team sees them as having sufficient energy. As and how they stand out in Inc.comthis contrast shows that the disconnection begins with the managers themselves and can filter down to the rest of the employees. Furthermore, more than a quarter of leaders have thought about resigning during the last year. Burnout and demotivation in record numbers. The appearance of burnout (emotional exhaustion from work) is especially common among those who manage teams: 34% of those who occupy these positions acknowledge feeling exhausted daily or suffering from this exhaustion frequently. The report ‘State of the Global Workplace 2025’ prepared by the consulting firm Gallup confirms this trend, with a drop to 27% in manager commitment. In this context, it is striking that only 17% of companies offer their leaders the tools they consider useful to keep motivated of your team. 57% have never received adequate leadership training to re-involve their colleagues when the first symptoms of demotivation appear or tension increases. Only 38% admit that they have only received partial training. Given this, 40% of those responsible say that they would resign from their role as head of the team if it guaranteed that employees were committed again. Feel useful and valued. In recent months, a good part of the layoffs in large companies have been aimed at intermediate positionswhat have they seen underestimated his work within companies. Therefore, most managers are not asking for a raise or more power, but for something much more important to them: 69% indicate that what they need to feel more involved is to have their work recognized. In fact, the lack of recognition appears as the main element that 21% of these professionals miss. On a personal level, the managers surveyed for the Kahoot! say they would regain engagement if their days had more energy, creativity or fun (58%), more opportunities to learn and grow (52%) or better technology to connect with the team (48%). What all of this data reflects is that managers no longer aspire to just be promoted, but rather to more real and tangible jobs that allow them to be more creative and develop their skills. Bosses looking for a new role. Faced with these challenges, more and more organizations are criticizing rigid hierarchy models, valuing more those who facilitate work and encourage creativity from any position, regardless of the position. “If leaders are willing to trade their title for the opportunity to feel engaged, this is a sign of something deeper,” said Eilert Hanoa, CEO of Kahoot! in the report. According what was published According to Inc.com, today’s leaders prefer to act as companions to their teams, more attentive to the real work than to the office or the corporate hierarchy. The flexible structures they start to gain strengthpossibly driven by the arrival of generation Zencouraging the exchange of ideas and the active participation of the entire team in decision-making. In Xataka | At the end of this year, one in three young people will have changed jobs: it’s nothing personal, it’s just salary Image | Unsplash (Vitaly Gariev)

Tether is the great cover of the world of crypts. Aspires to value 500,000 million for doing something simplistic: save foreign money

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Tether Holdings SA is the company responsible for issuing and controlling the most important stablcoin in the world – also called “Tether” (USDT) -. And those responsible are in negotiations with investors for lift up to 20,000 million dollars. If that round becomes effective, Tether would become a company with an assessment of 500,000 million dollars, and the question is obvious: how can a company be worth so much that nobody has heard? What is Tether (USDT). Launched in 2014, Tether is a cryptocurrency With its own block chain. It is designed to facilitate the use of Fiat currencies (such as the dollar or the euro) digital. Tether is specifically A stablecoina cryptocurrency whose value is strongly linked to the US dollar, which makes its volatility virtually nil. One would think that it is much more interesting to operate with Bitcoins or Ethereum, but care: Tether is a giant for a much simpler reason than it seems. As big as Netflix. If this investment round is confirmed, Tether would be at the level of companies such as Netflix, the 18th company for market capitalization According to Companies Market Cap. Unlike other technological companies focused on future innovation, Tether is a company whose business model is strongly tied to current cash flow. Sources close to negotiations talk that this investment round could be “significantly lower”, so the estimated assessment could be much lower. Interest gains. This is Tether’s main source of income. For each USDT token, the company keeps an equivalent amount in reservations, and does so largely in assets that generate interest, such as US Treasury Bonds. Its current market value is 173,000 million dollars, and thanks to that you can invest those huge reserves and obtain mass profits. In fact Tether is currently one of the great debt holders of the United States government. Extraordinary benefit margin. The CEO of Tether, Paolo Ardoino, He has affirmed Recently the company has a 99%benefit margin. That means that their COESTE operations are incredibly low compared to their income. Tether Holdings Sa is an efficient money to make money. The reference stable. Its success is also based on having become the most popular stablcoin in the cryptodivsis market. Thus, while the current market assessment of Tether S of 173,000 million dollars, the following stablecoin in relevance is USDC, with an assessment of 74,000 million, less than half. But. Although the company has a privileged position and an apparently promising future, Tether He had problems in the past that also threaten their projection. Thus, in 2021 He had to pay A fine of 41 million dollars for a lawsuit for misrepresenting its reserves. The company has also been criticized for the opacity of its reserves: although it publishes quarterly reports, these are not audited by any of the Big Four (such as PWC or Deloitte), but by less recognized signatures. Regulation. The true Damocles sword for Tether is the regulatory tensions. That has left her out of the US market for years, but the company has moved a card hiring a former White House official and it seems that there is now a clear and favorable approach Bajo Trump. However, the US continues Approve laws that will force Tether to restructure its model to access that market. In Xataka | In 2011 a group of investors bought 80,000 bitcoins. They have been sold by 17,000,000% more expensive

India will spend a fortune on having its own chips industry. The problem is not just money

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India has approved An investment of 18.2 billion dollars To develop ten semiconductor projects and thus create an entire chip industry from scratch. The country wants to reduce its dependence on imports and compete with powers such as Taiwan and United Statesbut the country will be necessary for more than money to execute its strategy. Ambition is disproportionate. India is one of the largest consumers of electronic devices in the world, but it does not practically No local chips industry. Its implementation in the semiconductors aims to create the entire supply chain, from the design to the manufacture, tests and packaging, in the region. The approved projects include two manufacturing plants of semiconductors and multiple test and packaging factories. The opportunity of India. The race began in 2022, when the United States restricted chips exports of advanced to China. This triggered a global competition for self -sufficiency in semiconductors, and for India was a golden opportunity to reduce imports and capture a greater share of the global market of electronic devices that moves away from China. Beyond money. Stephen Ezell, Vice President of Global Innovation Policy in Information Technology and Innovation Foundation, Explain which India needs “more than a few semiconductor factories.” The Executive explains that leading manufacturers “consider up to 500 different factors before investing billions in a plant”, including talent, fiscal policies, labor regulations, technological infrastructure and customs policies, areas in which India still has pending work. The Government changes strategy. New Delhi has modified its approach initial. In 2022 he focused only on advanced chips of 28 nanometers or less, but this did not help develop the nascent Indian industry. Now the government finances 50% of the costs of all manufacturing projects, regardless of the size of the chip, and also supports the test and packaging units. Star projects are already underway. The largest current project is the semiconductor manufacturing plant of 11,000 million dollars That Tata Electronics builds in Gujarat, in association with the Taiwanese Powerchip Semiconductor Manufacturing Corp. The installation will produce chips for energy management, screen controllers and microcontrollers that can be used in AI, automotive and data storage. Talent exists, but it is limited. India has a reserve of engineers who already work for global chips design companies since the 90s. However, Jayanth BR, recruiter with more than 15 years of experience in the sector, Explain that international companies only subcontract design validation work “at the block level” to India. The central design remains in the United States or Singapore. Intellectual property is the great challenge. Sajai Singh, partner of the Jsa Jsa Advocates & Requests, Point out that India must update its intellectual property laws and improve application mechanisms. “Our competition is with countries like the United States, Europe and Taiwan, which not only have solid Pi laws, but also a more consolidated ecosystem for chips design,” he explains. And now what. The next three or four years will be decisive for the objectives of semiconductors of India, according to Sujay Shetty, general director of semiconductors at PWC India. There are still factors that India must stop, since manufacturing plants require specific locations without flooding or vibrations, with reliable road connections and suppliers of specialized chemicals that meet standards of ultraralta purity. India is still far from producing 2 nanometers avant -garde chips, but could find its niche in assembly and semiconductor tests, a sector with lower capital requirements and better margins. Cover image | Brian Kostiuk and Naveed Ahmed In Xataka | The undisputed winner of the aggressive competition of TSMC, Intel and Samsung is a European company: ASML

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