On this lazy Thursday, we’ve discovered that the machines really are taking over. Here are some need-to-know numbers to cap off your day.
Ray Dalio, founder of the world’s largest hedge fund, stopped by to chat with us about why interest rates are running close to zero, the wealth gap, and how he thinks we would cope in the face of another recession. The Bridgewater Associates CEO said “anger” is reflected in our current politics, creating tensions that make us especially vulnerable to a downturn. “People have to be calm. We have to have a country in which people are together,” Dalio said.
Financial unrest currently exists over pension programs, an issue that many parts of the country are experiencing. In Philadelphia, a task force is pushing the city’s mayor to find a solution to its $6 billion pension deficit. Various cities and states have made promises about “generous pension packages” that they can’t keep anymore, wrote Marketplace’s Andy Uhler. Now, according to one economic expert, they’re going to have to move to 401(k)s.
Despite all this financial chaos, a decades-old delivery chain has been excelling in the pizza market. Domino’s made an estimated $4.7 billion in digital sales last year. Its latest foray into the technology world is a new app called Zero Click, which — you guessed it — will let users order pizza without a single click. After opening it, it’ll automatically place an order for your favorite pizza after a 10-second period.
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