The chapter investigates the unethical tactics of I am Academy, a company that preyed on teenagers during the pandemic by offering false promises of wealth through online trading schemes. It exposes the manipulative strategies of the company, from using a non-functional algorithm to promoting a lavish lifestyle on social media through influencers. The discussion also addresses the legal implications of the company's misleading practices and the repercussions faced by young individuals who fell victim to their fraudulent schemes.
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Bloomberg News AI Reporter Rachel Metz discusses OpenAI launching a faster and cheaper version of the artificial intelligence model that underpins its chatbot, ChatGPT, as the startup works to hold on to its lead in an increasingly crowded market. Jon Weiss, Co-CEO of Wells Fargo CIB, talks about the firm’s appreciation of and commitment to US military veterans. Bloomberg News Personal Finance Reporter Alice Kantor shares the details of her Businessweek Magazine story ‘Harvard of Trading’ Ruined Thousands of Young People’s Lives. Dr. Kelly Monahan, Managing Director at Upwork Research Institute, breaks down a new report on Gen Z’s shifting preferences and expectations when it comes to careers and the world of work. And we Drive to the Close with Michael Riley, Co-Head of Markets at Wells Fargo Corporate & Investment Bank.
Hosts: Carol Massar and Barry Ritholtz. Producer: Paul Brennan.
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