‘People thought I was a communist doing this as a non-profit’: is Wikipedia’s Jimmy Wales the last decent tech baron?

Samsung and Google have launched the Galaxy XR headset, a groundbreaking device priced at $1,799 that combines artificial intelligence, various applications, and immersive computing into a single sleek package. This innovative headset aims to redefine how we interact with technology, making it a significant development in the tech industry that could change the way we experience digital content.

Amkor Technology has reported record revenue for Q3 2025, largely fueled by strong demand in the communications and AI sectors. This impressive financial performance highlights the company's strategic positioning in rapidly growing markets, showcasing its ability to adapt and thrive amidst technological advancements. Such growth not only reflects Amkor's operational efficiency but also signals a positive trend for the semiconductor industry as a whole, making it a significant development for investors and stakeholders.

Chegg, an edtech company, is undergoing significant changes as it faces challenges from AI advancements. The firm has announced job cuts and appointed a new CEO in an effort to adapt to the evolving educational landscape. This overhaul is crucial as it highlights the impact of technology on traditional learning platforms and raises questions about the future of education and employment in the sector.

Amazon is set to cut around 30,000 corporate jobs across various departments, including logistics and cloud computing, which raises concerns about the company's future and employee morale. This news comes at a time when Qualcomm is making headlines for its successful launch of new chips aimed at the AI data center market, positioning itself as a competitor to Nvidia. The juxtaposition of job losses at Amazon and Qualcomm's growth highlights the contrasting fortunes within the tech industry, making it a significant development for both employees and investors.

Celestica's shares have surged following a strong earnings report that exceeded expectations, driven by a growing demand for AI technologies. This positive momentum not only highlights the company's robust performance but also reflects the broader market trend towards AI integration, making it a significant player in the tech industry. Investors are optimistic about the raised outlook, indicating confidence in Celestica's future growth prospects.

In a significant development, Treasury Secretary Scott Bessent has unveiled a shortlist of five candidates to succeed as Fed Chair, with a decision expected by year-end. This news is crucial as it could shape the future of U.S. monetary policy. Bloomberg's Michael McKee provides insights on the implications of this shortlist, while VanEck CEO Jan van Eck discusses market reactions ahead of the Fed's upcoming decision. Additionally, Wikipedia Founder Jimmy Wales shares insights from his new book, 'The Seven Rules of Trust,' adding depth to the conversation.

The ongoing AI race is increasingly tied to energy resources, with natural gas emerging as the leading power source for AI infrastructure. This shift is significant as it highlights the importance of energy in technological advancements, and regions rich in natural gas are poised to benefit economically and strategically. As governments and companies invest heavily in AI, the reliance on natural gas could reshape energy markets and influence global competitiveness.

Wikipedia founder Jimmy Wales emphasizes the importance of trust in the digital age, contrasting his platform's mission of building an encyclopedia with the often chaotic nature of social media. In his new book, 'Seven Rules of Trust,' he advocates for a return to a society grounded in reliable information and facts. This message is particularly relevant today as misinformation spreads rapidly online, making Wales' insights crucial for fostering a more informed public.

Romi Savova, the CEO of PensionBee, is making waves in the retirement investment space by helping consumers streamline their retirement savings into a single online account. This approach not only simplifies managing multiple funds but also empowers individuals to take charge of their financial futures. During her conversation on 'The Close' with Romaine Bostick and Katie Greifeld, she emphasized that ETFs are the way forward for financial services, highlighting a shift towards more accessible and efficient investment options.

Top economists, including Tarun Ramadorai from the Reserve Bank of India, are raising concerns about the personal finance system, which is currently focused on selling unnecessary products rather than meeting genuine needs. This misalignment of incentives is problematic and calls for urgent reforms to ensure that financial services truly benefit consumers. Understanding these issues is crucial as they affect how individuals manage their finances and make informed decisions.

Rivernorth Financial has made a strategic move by acquiring shares in Rivernorth Opportunistic Municipal Income. This acquisition is significant as it reflects Rivernorth's commitment to enhancing its investment portfolio and providing better returns for its investors. Such actions can boost investor confidence and potentially lead to increased market activity, making it a noteworthy development in the financial sector.

Canary Capital and Bitwise are set to launch the first altcoin ETFs in the US, marking a significant milestone in the cryptocurrency market. This development is particularly noteworthy as it comes despite recent challenges and shutdowns in the sector, indicating a resilient push towards innovation and investment opportunities in digital assets. The introduction of these ETFs could attract a new wave of investors looking to diversify their portfolios with altcoins, potentially reshaping the landscape of cryptocurrency investments.

The UK is grappling with a staggering $26.8 billion gap in public finances, primarily attributed to a decline in productivity, according to a report by the Financial Times. This significant shortfall raises concerns about the country's economic stability and its ability to fund essential services. As productivity plays a crucial role in driving economic growth, this decline could have long-term implications for the UK's financial health and public welfare.

Amazon has announced plans to lay off up to 30,000 corporate workers, which could represent about 10% of its workforce. This significant reduction highlights the challenges the company is facing in the current economic climate and raises concerns about job security in the tech industry. Such layoffs not only impact the employees directly affected but also reflect broader trends in the market, making it a critical issue for many.