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Fewer Players, Fewer Choices: How the Collapse of Broker-Dealers and Public Companies Is Quietly Locking Ordinary Americans Out of the Market

Let’s start with a number that doesn’t get nearly enough attention: 8,090. That was the total number of publicly traded companies listed on U.S. exchanges at the market’s peak in 1996. Today, that number has been cut nearly in half — sitting just under 4,000. Meanwhile, the firms responsible for connecting investors to those companies — broker-dealers — have followed...

The Perfect Storm:

The Perfect Storm:

When AI Job Destruction Meets the Baby Bust — Is College a Trap? In Part I of this series, we documented the demographic freight train bearing down on America’s college campuses — a declining birth rate, shuttering institutions, and a generation of students that simply never arrived. But while administrators have been laser-focused on the enrollment cliff ahead, a second...

The Human Cost of the Machine: AI, Public Companies, and the Soul of Capitalism

The Human Cost of the Machine: AI, Public Companies, and the Soul of Capitalism

Let’s start with a number: 4,000. That’s how many people Jack Dorsey just told to clean out their desks at Block — the company behind Square, Cash App, and Afterpay. Forty percent of the entire workforce, gone in a memo. And here’s the kicker: the company’s business is doing just fine. Gross profit up 24% year-over-year. Stock jumped 24% on...

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