The Global Economy is STRUGGLING & Duolingo Ditches Contractors for AI
Jan 10, 2024
28:40
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The podcast discusses the World Bank's forecast of a slowing global economy. It also covers the dangerous trend of 'swatting' politicians, the ongoing battle between grocery chains and food suppliers, Duolingo's move to AI, the ban on dog meat in South Korea, and the significance of 'The Sopranos' for TV.
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Quick takeaways
The global economy is predicted to experience a weak stretch of growth, signaling a wasted decade due to factors such as the pandemic recovery and inflation.
South Korea has unanimously passed a law banning the breeding, slaughter, and sale of dogs for human consumption, reflecting changing cultural attitudes toward dogs as pets and the desire to protect animal welfare.
Deep dives
The SEC's Fake Bitcoin ETF Tweet and Cybersecurity Incident
The Security and Exchange Commission (SEC) tweeted that it had approved a spot-Bitcoin ETF, but it turned out to be a cybersecurity incident involving the SEC's hacked account. The incident highlighted the need for improved cybersecurity measures, as the SEC did not even have two-factor authentication enabled. The incident caused a brief celebration in the cryptocurrency market before the truth was revealed.
World Bank Warns of Wasted Decade for Global Economy
The World Bank predicts a weak stretch of growth in the global economy and warns of a wasted decade. Factors such as the recovery from the global pandemic and inflation have contributed to the bleak economic outlook. Growth in world output is expected to continue declining, reaching 2.4% in 2024 compared to an average of 3.1% in the 2010s. This disappointing forecast contrasts with earlier predictions of a transformative decade for development.
Outlawing Dog Meat Consumption in South Korea
South Korean lawmakers unanimously passed a law that outlaws the breeding, slaughter, and sale of dogs for human consumption. Consumption of dog meat had been declining over the years, with younger generations rejecting the practice. However, there was still a robust industry around dog meat, which will now transition as the law takes effect with a three-year grace period. The ban reflects changing cultural attitudes toward dogs as pets and the desire to protect animal welfare.
Episode 232: Neal and Toby talk about the World Bank’s latest forecast indicating a slowing global economy for the third straight year. Then, politicians are the latest being ‘swatted’ — a scary trend that has its roots from Twitch. Plus, the battle between grocery chains and food suppliers has each side blaming the other as the problem. Finally, Duolingo cuts its workforce for AI, dog meat is banned in South Korea, and what ‘The Sopranos’ meant for TV 25 years later. Bada bing!