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ELEVANCE HEALTH INC

Elevance Health

Elevance Health remains one of the leading health insurers in the US, providing medical benefits to 46 million medical members as of December 2024. The company offers employer, individual, and government-sponsored coverage plans. Elevance differs from its peers in its unique position as the largest single provider of Blue Cross Blue Shield branded coverage, operating as the licensee for the Blue Cross Blue Shield Association in 14 states. Through acquisitions, such as the Amerigroup deal in 2012 and MMM in 2021, Elevance's reach expands beyond those states through government-sponsored programs, such as Medicaid and Medicare Advantage plans, too. It is also an emerging player in pharmacy benefit management and other healthcare services.

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The world was undeniably once in love with Harry Potter. <a href="https://www.benzinga.com/tech/25/05/45428241/elon-musks-grok-ai-got-asked-how-many-times-has-hbo-changed-its-name-leaves-user-stunned-with-racially-charged-response">HBO</a> hopes that it still is, despite its author&#8217;s contentious opinions.
The books have sold 230 million copies in the U.S. and 600 million worldwide, making it the bestselling book series of all time, according to U.S. publisher<a href="https://www.scholastic.com/newsroom/all-news/press-release/scholastic-marks-25-year-anniversary-of-the-publication-of-j-k--.html"> Scholastic</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCHL#NASDAQ">SCHL</a>).<a href="https://www.the-numbers.com/movies/franchises"> The Numbers</a> show the film franchise having grossed over $9.5 billion.
Now, however, the Potter brand has become a lightning rod for debate due to its author, J.K. Rowling&#8216;s<a href="https://www.theguardian.com/books/2025/apr/18/jk-rowling-harry-potter-gender-critical-campaigner"> divisive views</a> on transgender women. As HBO casts for the new <a href="https://www.benzinga.com/general/entertainment/24/12/42257593/harry-potters-ron-weasley-cursed-with-2-3m-tax-bill-after-losing-lawsuit">Harry Potter</a> series, executives have been forced to defend their decision to promote Rowling&#8217;s most famous creation further.
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<h2 class="wp-block-heading">HBO Has Been In Business With Rowling For 25 Years</h2>
&#8220;The decision to be in business with J.K. Rowling is not new for us. We&#8217;ve been in business for 25 years,&#8221; HBO&#8217;s chief content officer, Casey Bloys, said recently on<a href="https://puck.news/podcasts/the-town/"> &#8220;The Town&#8221; podcast</a>. According to<a href="https://variety.com/2025/film/news/john-lithgow-jk-rowling-backlash-hbo-harry-potter-series-1236379724/"> Variety</a>, HBO and the new cast members have already faced criticism for being involved with Rowling.
On the podcast, Bloys was asked if he feared Rowling&#8217;s trans views could affect the show&#8217;s success. &#8220;We already have a show on HBO from her called ‘C.B. Strike' that we do with the BBC,&#8221; he responded, &#8220;It&#8217;s pretty clear that those are her personal, political views. She&#8217;s entitled to them. ‘Harry Potter' is not secretly being infused with anything. And if you want to debate her, you can go on Twitter.&#8221;
<h2 class="wp-block-heading">Rowling Actively Involved In the Harry Potter Reboot</h2>
Rowling&#8217;s role in the new reboot is far from passive. Last year, Bloys<a href="https://variety.com/2024/tv/news/harry-potter-hbo-series-jk-rowling-transphobia-1236215642/"> told reporters</a> that Rowling was &#8220;very, very involved in the process of selecting&#8221; showrunner Francesca Gardiner and director Mark Mylod for the new series.
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&#8220;We are proud to once again tell the story of Harry Potter — the heartwarming books that speak to the power of friendship, resolve and acceptance,&#8221; an<a href="https://variety.com/2024/tv/news/harry-potter-hbo-series-jk-rowling-transphobia-1236215642/"> HBO statement</a> said. &#8220;J.K. Rowling has a right to express her personal views. We will remain focused on the development of the new series, which will only benefit from her involvement.&#8221;
<h2 class="wp-block-heading">Heavy Investment</h2>
HBO is investing heavily in the new series, which it expects to enjoy the same success as its other top-rated shows. &#8220;You know we make shows at this scale with ‘House of the Dragon,' ‘Game of Thrones,'" Bloys told<a href="https://deadline.com/2025/03/harry-potter-tv-series-max-release-date-cast-1235323284/"> Deadline</a> in March. &#8220;I imagine it will be that scale or higher. The shorter answer is whatever it takes to make a quality show.&#8221;
Deadline reported that &#8220;House of the Dragon&#8221; cost nearly<a href="https://deadline.com/2022/08/house-of-the-dragon-hbo-biggest-marketing-campaign-1235096571/"> $200 million with an additional $100 million</a> spent on a marketing campaign for its debut season — the most ever in HBO&#8217;s history.
HBO is clearly hoping for a big return on their investment with Harry Potter. &#8220;We&#8217;ve not been shy about our excitement around Harry Potter,&#8221; David Zaslav, CEO of HBO parent Warner Bros. Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>), told said on the company&#8217;s<a href="https://ir.wbd.com/news-and-events/events-and-presentations/event-details/2025/Warner-Bros-Discovery-Fourth-Quarter-2024-Earnings-Call/default.aspx"> Q4</a> <a href="https://www.rev.com/transcripts/warner-bros-discovery-q4-2023-earnings-conference-call-transcript">earnings call</a> in 2023. &#8220;I was in London a few weeks ago with Casey [Bloys] and Channing [Dungey, chair of Warner Bros Television] and we spent some real time with J.K. and her team,&#8221; he said. &#8220;Both sides are just thrilled to be reigniting this franchise. Our conversations were great.&#8221;
See Also: <a href="https://www.benzinga.com/money/this-ai-imaging-technology-has-been-used-in-more-than-500-surgeries-now-you-can-be-part-of-the-ai-imaging-revolution">Be part of the next med-tech breakthrough for only $350 — 500+ surgeries already done with nView's AI system.</a>
<h2 class="wp-block-heading">Continued Public Appetite For All Things Potter</h2>
The success of the &#8220;Harry Potter and The Cursed Child&#8221; stage production saw Rowling&#8217;s production company earn $10.5 million in 2023, according to Deadline. <a href="https://www.forbes.com/sites/carolinereid/2024/12/30/harry-potter-enchants-theatergoers-as-london-stage-show-sells-more-than-3-million-tickets/">Forbes</a> reported that the London stage show has sold over 3 million tickets, and the Broadway and Chicago shows has grossed over <a href="https://dctheaterarts.org/2023/01/02/broadway-productions-of-harry-potter-and-the-cursed-child-and-chicago-set-new-records/#:~:text=In%20March%20of%202020%2C%20the%20highly%20acclaimed,over%20$250%20million%20since%20opening%20in%202018.&amp;text=It%20also%20set%20a%20new%20single%20performance,of%20Wednesday%2C%20December%2028%2C%202022%2C%20at%20$159%2C106.20.">$250 million</a> to date, showing the continued appetite for Potter-related entertainment.
According to the<a href="https://www.thetimes.com/sunday-times-rich-list/profile/article/jk-rowling-net-worth-sunday-times-rich-list-695xd7kzn"> Times of London&#8217;s</a> &#8220;Rich List&#8221;, Rowling is a billionaire and would be wealthier had she not given away £200 million ($267 million) of her fortune in philanthropy.&nbsp;
Bloys told Deadline he expects the HBO series to arrive in late 2026 or early 2027.
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SCHL

HBO Execs Defend Their Association With J.K. Rowling As New Harry Potter Series Starts Casting. There's A Lot At Stake

High-profile crypto entrepreneur Justin Sun has added a $100,000 Trump-branded watch to his collection of prized possessions. This extravagant gift was presented to him during a special dinner with President Donald Trump.
Sun, the founder of&nbsp;Tron, was among the top 220 supporters of Trump&#8217;s meme coin, $TRUMP. His support earned him an invitation to an exclusive dinner with the president on May 22, where he was presented with the luxury timepiece, reports <a href="https://www.businessinsider.com/everything-you-should-know-about-justin-sun-trump-watch-crypto-2025-5">the </a>Insider. 
Sun, a 34-year-old billionaire with a net worth of around $8.5 billion as per Forbes, is known for his high-profile investments and acquisitions. In 2017, he established Tron, a blockchain firm committed to creating a decentralized internet infrastructure. Tron&#8217;s network currently serves over 308 million users and has facilitated more than 10.4 billion transactions.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43579082/think-tank-calls-for-doj-probe-into-trump-meme-coin-over-possible-anti-bribery-violations">Think Tank Calls for DOJ Probe Into TRUMP Meme Coin Over Possible Anti-Bribery Violations</a>
In 2022, Sun became a member of&nbsp;the Global Advisory Board of&nbsp;the cryptocurrency exchange&nbsp;HTX. His investment portfolio also includes a significant stake in the art world, marked by a $6.2 million acquisition of&nbsp;Maurizio Cattelan&#8217;s conceptual artwork titled&nbsp;&#8220;Comedian&#8221;,&nbsp;a banana duct-taped to a&nbsp;wall.
Despite facing legal issues with&nbsp;the Securities and Exchange Commission&nbsp;(SEC) over accusations of fraud and improper registration of crypto asset securities, Sun remains an influential figure in the crypto and art industries. 
He recently&nbsp;invested an additional $45 million&nbsp;in World Liberty Financial, a venture supported&nbsp;by Trump and his family.
Justin Sun&#8217;s acquisition of the Trump watch underscores his continued influence and financial prowess in the crypto and art worlds, despite legal challenges. 
His recent investments, including the $45 million in World Liberty Financial, indicate his ongoing commitment to high-profile ventures and his confidence in the potential of the crypto market.
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Image: Shutterstock/Kirill Aleksandrovich

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Cryptocurrency

Crypto Mogul Justin Sun Dines With Trump, Then Flexes $100K Watch — What's The Deal?

A 78-year-old South Florida woman named Carolyn is now the face of a crisis quietly growing in one of the country's most expensive regions: senior homelessness.
In a powerful <a href="https://youtu.be/bPjsPaQ0W8M?si=R0oErRr0Pt-pUNe8">segment aired last week by South Florida's WSVN-TV</a>, the longtime resident shared how she's been living in her car for nearly two months because her Social Security check doesn't stretch far enough to cover rent.
Her car, a 22-year-old sedan she calls "my baby," is packed with essentials. Her clothes hang neatly in the back seat. In the trunk, she stores her silks — dry-clean-only garments she hasn't been able to afford to care for in a long time. "I'm a neat freak," she said. "This is my dry cleaning — my silks — which I can't afford right now."
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Carolyn sleeps in the driver's seat, upright, with her legs crunched for hours. "My ankles and legs are swollen from having to sit all the time," she said. She gets by on just one meal a day — "I eat one meal a day for $2.02," she said — and stretches it further with a free senior drink. "I buy a jug of water. It's cheaper," she added.
With no housing, her gym membership through Medicare has become her lifeline. "I do go shower and do my makeup, my hair," she said, still holding on to dignity despite the circumstances.
Her only income is Social Security. Over the years, she's sold off many of her belongings, but the rising cost of living left her without options. "I look at it as a journey," she said, trying to stay hopeful. "I've had many journeys in my life."
Carolyn's story struck a nerve with Cassandra Ratliff, the <a href="https://www.pompanobeachfl.gov/residents/homeless-resources">housing and social services manager</a> for the City of Pompano Beach. "It could be my aunt. It could be my mother," Ratliff said. "It just breaks my heart just how humble Carolyn is."
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Ratliff is now helping Carolyn find permanent housing. For now, the city has temporarily placed her in a hotel after her car started leaking during a recent downpour.
According to Ron Book, chairman of the Miami-Dade Homeless Trust, elderly people living on the streets are especially at risk. "We know if you put vulnerable elderly on the street, they're going to die earlier," he said.
And the numbers are climbing. In 2019, seniors aged 65 and older made up 8% of <a href="https://www.myflfamilies.com/sites/default/files/2024-07/Council%202024%20Annual%20Homelessness%20Report.pdf">Miami-Dade County's homeless population</a>. By 2024, it had jumped to 14%. If trends continue, that number could hit 22% by 2030.
While average rent in Florida has dipped slightly — down $151 from last year, according to <a href="https://www.zillow.com/rental-manager/market-trends/fl/">Zillow — it still sits at $2,349</a>, far outpacing what many seniors can afford. The average monthly Social Security retirement benefit in <a href="https://www.ssa.gov/policy/docs/quickfacts/stat_snapshot/">April was $1,999</a>, leaving a gap too wide for many to bridge.
"The face of homelessness has changed," Book warned. "I want people in our community to think about their mothers and their grandmothers and their grandfathers being homeless for the first time."
See Also: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.&nbsp;
Carolyn echoed the same sobering thought: "It can happen to anyone. Don't think it can't — because I never thought about it."
Despite everything, she's trying to use her voice to help others. "Other people may need somebody to be their spokesperson," she said. "This is the only thing I ever felt ashamed of in my life. And I truly felt ashamed. But this is the right thing to do."
Even while sleeping in her car and surviving on a budget that barely covers food, Carolyn hasn't lost her humor or resilience. "She's falling apart — like me," she joked about her old car.
Now, with a temporary roof over her head and a caseworker fighting for her, Carolyn is hoping this new chapter leads to something better — not just for herself, but for <a href="https://www.benzinga.com/news/25/05/45484392/grant-cardone-proposes-no-property-taxes-for-65-and-over-says-it-would-provide-relief-to-social-security-and-protect-seniors-homes">others silently suffering the same way</a>.
And there are likely many more. According to the <a href="https://www.census.gov/quickfacts/fact/table/FL/PST045224">U.S. Census Bureau</a>, about 22% of Florida's nearly 23 million residents are 64 or older, giving it the third-highest senior population in the country. As that number grows, so does the urgency — because Carolyn's story isn't rare. It's a warning.
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Image: Shutterstock

Personal Finance

78-Year-Old Florida Woman On Social Security Has Been Living In Her Car For Months Because She Can't Afford Rent: 'I Eat One Meal A Day For $2.02'

Tech entrepreneur Elon Musk fondly recalled his infamous decision to briefly swap the Twitter logo for the Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) meme, a move that triggered a significant surge in the meme coin&#8217;s value. Musk later renamed Twitter &#8220;X.&#8221;
What Happened: On Saturday, Musk responded to a post on X from &#8220;DogeDesigner&#8221; who brought up the memorable event from two years prior. He wrote, &#8220;That was awesome.&#8221;
In April 2023, Musk had momentarily replaced the Twitter logo with the well-known Doge meme, the inspiration behind&nbsp;the original meme cryptocurrency DOGE, and its unofficial mascot.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f602; that was awesome
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1926190193503052046?ref_src=twsrc%5Etfw">May 24, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/21/12/23525663/best-of-2021-elon-musk-responds-to-benzinga-report-lots-of-spacex-tesla-workers-own-dogeco">Elon Musk Responds To Benzinga Report: &#8216;Lots Of&#8217; SpaceX, Tesla Workers Own Dogecoin; He Doesn&#8217;t Own Floki, Shiba Inu</a>
The logo switch, which was in place for roughly a week, resulted in a substantial rise in DOGE&#8217;s price. The meme coin&#8217;s value increased by nearly 8%, followed by a swift additional 30% gain. 
This was perceived by the Dogecoin community as Musk&#8217;s attempt to incorporate his favored meme coin DOGE into Twitter.
Why It Matters:&nbsp;Musk&#8217;s playful antics on Twitter have often had a significant impact on cryptocurrency markets, particularly DOGE. 
His decision to replace the Twitter logo with the Doge meme not only demonstrated his influence on social media but also highlighted the volatile nature of meme coins and their susceptibility to external factors. 
This event serves as a reminder of the power of high-profile individuals in shaping market trends and the potential for social media platforms to influence cryptocurrency values.
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Social Media

Tech

$DOGE

Elon Musk Reflects on Twitter's Dogecoin Logo Swap: 'That Was Awesome'

HC Wainwright &amp; Co. analyst Raghuram Selvaraju downgraded the rating on UroGen Pharma Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URGN#NASDAQ">URGN</a>) <a href="https://www.benzinga.com/quote/URGN/analyst-ratings" target="_blank" rel="noreferrer noopener">from Buy to Neutral.</a>
Selvaraju points out that the FDA&#8217;s Oncologic Drugs Advisory Committee voted 5-4 against the benefit-risk profile of UroGen&#8217;s investigational therapy UGN-102 (mitomycin for intravesical solution), intended for patients with recurrent low-grade, intermediate-risk non-muscle-invasive bladder cancer (LG-IR-NMIBC).
According to the analyst, the narrow negative vote significantly lowers the likelihood of UGN-102 receiving timely approval.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/25/04/45047962/urogen-pharma-touts-four-year-response-with-urothelial-cancer-drug-study-highlights-potential-for-bladder-cancer-candidates" rel="noreferrer noopener">UroGen Pharma Touts Four-Year Response With Urothelial Cancer Drug Study, Highlights Potential For Bladder Cancer Candidates</a>
Selvaraju notes that if UGN-102 does receive FDA approval next month — with the only condition being a post-marketing randomized, controlled trial — this scenario would warrant a reassessment of their current rating on the stock.
Selvaraju notes that UroGen concluded the first quarter of 2025 with approximately $200 million in cash, cash equivalents and marketable securities.
According to the analyst, this financial position should be adequate to sustain operations through late 2026, even if UGN-102 fails to secure regulatory approval.
For 2026, the analyst now forecasts a net loss of $2.14 per share, a notable shift from his earlier projection of 27 cents in earnings for the year.
Selvaraju highlights that UroGen is advancing development on UGN-103 and UGN-104, next-generation mitomycin-based formulations for UGN-102 and JELMYTO, respectively.
These candidates combine the company&#8217;s RTGel delivery platform with a novel mitomycin formulation licensed from medac GmbH.
The Phase 3 UTOPIA trial evaluating UGN-103 in patients with low-grade, intermediate-risk non-muscle-invasive bladder cancer is currently enrolling.
Selvaraju anticipates that enrollment will wrap up by mid-2025, with top-line data expected shortly after. If results are positive, a regulatory submission could occur in 2026, potentially leading to FDA approval by 2027.
URGN Price Action: Urogen shares closed at $4.19 on Friday.
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Photo: Shutterstock

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URGN

UroGen Pharma Stock Receives Downgrade As Analyst Cites FDA Panel Setback For Key Bladder Cancer Drug

Citadel CEO Ken Griffin says the secret to building any enterprise boils down to one blunt commandment: learn to sell.
What Happened: Speaking to MBA candidates at Stanford University's Graduate School of Business, the billionaire hedge-fund founder <a href="https://youtu.be/GuF14oKon8A?t=616">recalled</a> visiting an early backer and spotting a gift-shop plaque that read, &#8220;If we're all going to eat, someone has to sell.&#8221;
The $10 tchotchke, he told students, became his career's &#8220;wake-up moment.&#8221; &#8220;You're always selling,&#8221; Griffin said. &#8220;And if you don't like to sell, here's my advice: Get over it.&#8221;
Griffin, now worth roughly $44 billion according to Forbes, urged Gen Z entrepreneurs to exploit their youth. &#8220;When you're in your 20s, what's your worst-case scenario? It's not that bad,&#8221; he said. &#8220;I really deduced that in my 20s, I would take risks in my career. Why not? I have nothing to lose.&#8221; Rejections, he added, are inevitable but invaluable.
The 56-year-old financier also laid out the three traits he prizes in new hires: "intellect, aptitude and communication." Adaptability, he said, separates future founders from also-rans. "The entrepreneurs of any moment in time are the people that have the skill set that is relevant to solve the problems of that moment in time."
See also: <a href="https://www.benzinga.com/25/05/45587151/charlie-munger-said-someone-mailed-him-a-50k-saying-ill-pay-to-work-for-you-he-sent-it-back-but-admired-the-gutsy-move">Charlie Munger Said Someone Mailed Him A $50K, Saying &#8216;I&#8217;ll Pay To Work For You&#8217; — He Sent It Back But Admired The Gutsy Move</a>
Griffin credited his own hedge fund's longevity to collaboration. "Citadel is a team sport," he said. "I am so fortunate to have extraordinarily strong partners that help to create resilience because everyone has a down day, a down week, a down month."
Why It Matters: That team approach has paid off: Citadel has generated about <a href="https://www.benzinga.com/general/24/02/37181785/citadel-is-the-most-successful-hedge-fund-in-history-here-are-its-top-investment-picks">$74 billion in net gains</a> since 1990, making it the most profitable hedge fund on record.
Stalwarts from Silicon Valley to Wall Street keep hammering the same point. Mark Cuban tells founders to <a href="https://www.benzinga.com/news/25/03/44348106/mark-cuban-reveals-the-key-personality-trait-you-need-to-succeed">sell to customers</a> rather than being sold to by them and reminds them that sales numbers don't lie, a mantra he says kept him rich long after his first millions rolled in.
Jeff Bezos lived that lesson in 1995, burning through 60 rejection-filled meetings before persuading 22 believers to buy 20 percent of Amazon for $1 million; he still calls that grind "the <a href="https://www.benzinga.com/news/25/05/45184305/jeff-bezos-says-the-hardest-thing-was-landing-amazons-first-million-says-he-warned-potential-backers">hardest thing</a> I've ever done".
Read next:
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<li><a href="https://www.benzinga.com/25/05/45585881/jim-cramer-says-we-will-have-to-flirt-with-475-10-year-yields-as-one-big-beautiful-bill-moves-to-senate-get-used-to-it">Jim Cramer Warns Of More &#8216;Torture&#8217; Ahead As 10-Year Yields Flirt With 4.75% Amid Trump&#8217;s &#8216;One Big Beautiful Bill&#8217; Moving To Senate: &#8216;Get Used To It&#8217;</a></li>
</ul>
Photo courtesy: viewimage / Shutterstock.com

Management

Success Stories

Citadel Head Ken Griffin Says His Career's 'Wake Up Moment' Proved Everyone's 'Always Selling:' And If You Don't Like It, 'Get Over It'

Warren Buffett, the CEO and chairman of Berkshire Hathaway, has shown a clear preference for stocks over real estate when it comes to long-term investment opportunities.
What Happened: Buffett, during the Berkshire Hathaway annual shareholder meeting, was queried about his continued interest in buying stocks over property. He responded by emphasizing the vast opportunities offered by the US stock market.
&#8220;The security market in the United States presents much more opportunities than real estate,&#8221; Buffett stated.
Buffett underscored his argument by comparing the performance of the stock market and real estate over the past four decades. 
As per the report <a href="https://www.cnbc.com/2025/05/21/warren-buffett-much-more-opportunity-in-stocks-than-real-estate.html">by </a>CNBC, the S&amp;P 500 has seen a rise of 2,218% since 1988, while the S&amp;P CoreLogic Case-Shiller U.S. National Home Price Index has only seen a 374% increase.
Also Read: <a href="https://www.benzinga.com/news/25/05/45185944/warren-buffett-shares-surprising-advice-for-young-investors-and-its-not-about-stocks-who-you-associate-with-is-just-enormously-important">Warren Buffett Shares Surprising Advice for Young Investors—And It&#8217;s Not About Stocks: &#8216;Who You Associate With Is Just Enormously Important&#8217;</a>
Buffett also pointed out the ease and speed of trading stocks as a significant advantage over real estate transactions, which often involve lengthy negotiations and complexities.
&#8220;You can conduct&nbsp;billions of dollars worth of&nbsp;business, completely&nbsp;anonymous, and you can do&nbsp;it in five minutes at the New York Stock Exchange.&nbsp;The trades are complete when&nbsp;they&#8217;re complete,&#8221; Buffett elaborated.&nbsp;&#8220;In real estate, when you&nbsp;make a deal with a&nbsp;distressed lender, when you sign&nbsp;the deal, that&#8217;s just the&nbsp;beginning.&#8221;
Despite Berkshire Hathaway&#8217;s capacity to invest in various types of real estate, Buffett expressed his preference for the simplicity and potential for significant returns offered by the stock market.
Why It Matters: Buffett&#8217;s preference for stocks over real estate is noteworthy, given his significant influence in the investment world. 
His views could potentially shape investor behavior, leading to a shift in investment strategies. The comparison of the performance of the stock market and real estate over the past four decades further highlights the potential of stocks as a long-term investment. 
Buffett&#8217;s comments also underscore the ease and speed of trading stocks, which could be a deciding factor for investors when choosing between these two investment options.
Read Next
<a href="https://www.benzinga.com/news/earnings/25/05/45184120/warren-buffett-warns-tariffs-could-backfire-on-economy-says-trade-should-not-be-a-weapon-its-a-big-mistake-i-dont-think-its-wise" target="_blank" rel="noreferrer noopener">Warren Buffett Warns Tariffs Could Backfire on Economy, Says, ‘Trade Should Not Be A Weapon. It's A Big Mistake, I Don't Think It's Wise'</a>

Real Estate

Warren Buffett Advocates For Stocks Over Real Estate As Long-Term Investments: 'There's So Much More Opportunity In Stock Market Than In Real Estate'

After a nearly four-year break, federal <a href="https://www.benzinga.com/personal-finance/25/04/44890297/married-borrowers-could-see-major-changes-to-student-loan-payments-whats-happening-with-idr-plan">student loan payments</a> have resumed — and for millions of Americans, the financial aftermath has been swift and painful. Borrowers are now facing steep drops in their credit scores, with some seeing declines of more than 100 points in just a matter of weeks.
<h2 class="wp-block-heading">Loan Delinquencies Are Now Showing Up on Credit Reports</h2>
Student loan payments officially resumed in October 2023, but thanks to a one-year "on-ramp" period, missed payments weren't reported to credit bureaus right away. That protection ended in October, and now borrowers who've fallen behind are starting to feel the full impact.
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In the first quarter of 2025, 2.2 million federal student loan borrowers became newly delinquent and saw their credit scores fall by more than 100 points, according to the <a href="https://libertystreeteconomics.newyorkfed.org/2025/05/student-loan-delinquencies-are-back-and-credit-scores-take-a-tumble/">Federal Reserve Bank of New York</a>. More than 1 million of those borrowers saw drops of at least 150 points.
A 100-point drop in a credit score can be extremely damaging. According to LendingTree's chief credit analyst Matt Schulz, recovering from such a hit could take years. "It can literally cost you tens of thousands of dollars over the course of your life in the form of higher interest rates, bigger fees and more," Schulz told <a href="https://www.foxbusiness.com/economy/student-loan-delinquencies-tank-credit-scores-millions-borrowers-how-recover">Fox News</a>.&nbsp;
<h2 class="wp-block-heading">One Borrower Lost 137 Points in Just Weeks</h2>
Kayla Quinones, a 26-year-old borrower from Florida, saw her credit score drop 137 points between January and March — and she didn't even realize she was behind on her payments.
Quinones told <a href="https://www.cnbc.com/2025/05/19/some-student-loan-borrowers-see-credit-scores-drop-over-100-points.html">CNBC</a> that although she received emails from the U.S. Department of Education, she thought they were general updates, not action items. It wasn't until she checked her credit score while preparing to move that she discovered the drop.
"I went back into [my loan servicer] website, took a peek, and was just kind of figuring out what is going on," she said.
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — <a href="https://www.benzinga.com/money/boxabl-scaling-fast-from-spacex-orders-to-600-homes-built-this-60k-foldable-home-may-be-the-future-of-housing">this is your last chance to become an investor for $0.80 per share.</a>
Quinones used her savings to pay off the overdue amount and worked with her servicer to set up a payment plan. But the damage to her credit had already been done.
<h2 class="wp-block-heading">A Delinquency Can Derail Big Financial Plans</h2>
For borrowers like Mervelline Aflata of Dallas, falling behind wasn't just about confusion — it was about survival.
Aflata earned her master's degree in 2023 and planned to resume payments in early 2025. But after undergoing surgery and losing her job, she wasn't in a position to pay. By the time she started working again and attempted to make a payment, her credit score had already dropped 154 points.
"Maybe I could have looked into more options with the loan servicer, but in that moment, I was just worried about living," she told CNBC.
Aflata eventually worked with her servicer to bring her account current and filed a dispute with TransUnion. Within a week, the missed payments were removed from her report and her score rebounded — a relief, since she hopes to buy a home soon.
See Also: Nancy Pelosi Invested $5 Million In An AI Company Last Year — <a href="https://www.benzinga.com/money/elf-labs-ym?v=123">Here's How You Can Invest In Multiple Pre-IPO AI Startups With Just $1,000.</a>
<h2 class="wp-block-heading">Is Recovery Possible?</h2>
While some borrowers have been able to bounce back, others may face a long road to recovery. Schulz told Fox News that rebuilding a <a href="https://www.benzinga.com/markets/25/05/45464783/student-loan-payment-tightening-will-prevent-access-to-credit-and-could-have-a-dramatic-effect-on-ho">credit score</a> after a major hit is "a marathon rather than a sprint."
Still, there are steps borrowers can take:
<ul class="wp-block-list">
<li>Check credit reports for errors.</li>
<li>Request goodwill removals of missed payments from servicers.</li>
<li>Become an authorized user on someone else's credit card.</li>
<li>Ask for higher credit limits, but avoid using the new credit.</li>
<li>Above all, making consistent, on-time payments is key.</li>
</ul>
<h2 class="wp-block-heading">Final Thoughts</h2>
The end of the pandemic-era student loan pause has created confusion and financial stress for many. Whether due to a misunderstanding or tough circumstances, falling behind on student loans now has real consequences.
<a href="https://www.benzinga.com/personal-finance/25/05/45497552/americans-consumer-debt-hits-all-time-high-of-18-2-trillion-experts-say-some-borrowers-will-have-a-much-more-difficult-time-getting-credit-going-forward">Credit damage</a> from student loan delinquency doesn't just affect borrowing; it can influence housing, insurance rates, and job opportunities. Checking in early and often with loan servicers may help avoid surprises down the road.
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<li>‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. <a href="https://www.benzinga.com/money/mode-mobile-2">You can invest today for just $0.30/share with a $1000 minimum.</a></li>
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Image: Shutterstock

After A 4-Year Pause, Student Loans Are Destroying Credit Scores — One Borrower Says It Cost Her 137 Points In Weeks

The activist investor who previously proposed a $6.9 billion buyout offer for&nbsp;Macy&#8217;s Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) is reportedly considering a new takeover bid. This comes nearly a year after Macy&#8217;s rejected the initial offer.
What Happened: Arkhouse, in collaboration with Brigade Capital Management, made the initial bid on July 15, 2024. Despite the offer being&nbsp;more than double Macy&#8217;s current&nbsp;share price, the retail giant declined the proposal.
Arkhouse&#8217;s managing partner, Gavriel Kahane, has expressed ongoing disappointment over the rejection. While he did not reveal the size of Arkhouse&#8217;s current stake in Macy&#8217;s, he did not rule out the possibility of a new takeover bid.
&#8220;Macy&#8217;s is still publicly traded,&nbsp;still mispriced, and still in&nbsp;desperate need of someone coming&nbsp;in to save shareholders,&#8221; Kahane&nbsp;<a href="https://finance.yahoo.com/news/macys-former-activist-investor-doesnt-rule-out-a-new-takeover-campaign-195904239.html?ncid=twitter_yfsocialtw_l1gbd0noiom&amp;guce_referrer=aHR0cHM6Ly90LmNvLw&amp;guce_referrer_sig=AQAAAKWl4jO1Sf9nIWTtzssZtwtgKxqJu_23q4rKCRMzgG1_T47nNXbmtEV24XXNxcytas2unRrXTjyVpLcU_OtKLHyNSF2T4qXBZGIYQevoIDzwoD9S9Tp82f852YNPYfOfYZmtOuby_7JHyGvF2IG_TyOPQ6hyPuCzHf3SBSHwGtbB&amp;guccounter=2">told </a>Yahoo Finance.
At the time of the initial bid, Macy&#8217;s CFO Adrian Mitchell found the offer &#8220;not compelling&#8221; in light of Macy&#8217;s potential. The company chose&nbsp;to focus on its turnaround&nbsp;strategy under CEO Tony Spring instead.
Also Read: <a href="https://www.benzinga.com/markets/equities/24/04/38238422/proxy-fight-concludes-yet-macys-future-remains-in-the-balance-report">Proxy Fight Concludes, Yet Macy&#8217;s Future Remains In The Balance: Report</a>
Macy&#8217;s is scheduled&nbsp;to report its first quarter&nbsp;earnings next Wednesday. Wall Street predicts a 3.65% decline in same-store sales and adjusted earnings per share of $0.14, along with revenue of $4.44 billion.
Why It Matters: The potential new takeover bid by Arkhouse comes at a crucial time for Macy&#8217;s. The company is in the midst of a&nbsp;turnaround strategy under CEO Tony&nbsp;Spring, focusing on improving its financial performance. 
The rejection of the previous bid indicates Macy&#8217;s confidence in its potential and strategic plan. However, the ongoing interest from Arkhouse suggests that external parties still see value in the company and believe they can unlock it. 
The outcome of this situation could have significant implications for Macy&#8217;s future direction and shareholder value.
Image: Shutterstock/NYC Russ

Activist Investor Arkhouse Reconsiders Macy's Takeover Bid — Here's What Lies Ahead

These mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol class="wp-block-list">
<li>D-Wave Quantum Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>) shares jumped 53.47% after the company announced it launched its Advantage2 quantum system to address problems in optimization, <a href="https://www.benzinga.com//node/45518005" target="_blank" rel="noreferrer noopener">AI, and materials simulation</a>.</li>
<li>Regencell Bioscience Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGC#NASDAQ">RGC</a>) stock gained 42.49% last week.</li>
<li>Advance Auto Parts Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) stock increased 38.94%  after the company <a href="https://www.benzinga.com//node/45567507" target="_blank" rel="noreferrer noopener">reported first-quarter results</a>. Several analysts raised the <a href="https://www.benzinga.com/quote/aap/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast on the stock</a>.</li>
<li>Merus N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRUS#NASDAQ">MRUS</a>) stock rose 32.68% after the company disclosed interim clinical data as of a February 27, 2025, data cutoff from the ongoing phase 2 trial of the bispecific antibody petosemtamab in <a href="https://www.benzinga.com//node/45576972" target="_blank" rel="noreferrer noopener">combination with pembrolizumab</a>.</li>
<li>Oklo Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKLO#NYSE">OKLO</a>) shares upped 29.56%, probably due to reports indicating that Trump will sign executive orders to ease regulatory <a href="https://www.benzinga.com//node/45590362" target="_blank" rel="noreferrer noopener">requirements for new reactors</a>.</li>
<li>Sibanye-Stillwater Limited ADS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBSW#NYSE">SBSW</a>) shares were up 29.26%.</li>
<li>BGM Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGM#NASDAQ">BGM</a>) stock gained 27.20% last week.</li>
</ol>
Photo via Shutterstock

Mid Cap

Movers

MRUS

OKLO

QBTS

SBSW

D-Wave Quantum And Advance Auto Parts Are Among Top 7 Mid-Cap Gainers Last Week (May 19-May 23): Are The Others In Your Portfolio?

Even billionaires have regrets—and for Warren Buffett, it wasn't a missed investment or market move. It was personal.
In his authorized biography, "The Snowball: Warren Buffett and the Business of Life," Buffett didn't shy away from reflecting on the <a href="https://www.cnbc.com/2008/09/26/warren-buffett-admits-regret-over-wifes-departure-in-new-biography-ny-daily-news.html">one decision he wishes he could undo</a>: letting his wife, Susan, leave their Omaha home.
"It was preventable. It shouldn't have happened. It was my biggest mistake," Buffett told biographer Alice Schroeder, who spent five years documenting his life with full access to his files, family, and inner circle. "Essentially, whatever I did in connection with Susie leaving would be the biggest mistake I ever made."
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Published in 2008, "The Snowball" offered readers a rare look at Buffett beyond the shareholder letters and stock picks. While many expected an investing playbook, what they got was something closer to a confession booth.
"It was definitely 95% my fault—no question about that," Buffett said. "It may even have been 99% percent. I just wasn't attuned enough to her, and she'd always been perfectly attuned to me."
The Buffetts married in 1952 and had three children. But by 1977, <a href="https://www.dailymail.co.uk/news/article-2086406/Warren-Buffett-breaks-tears-mention-wife.html">after 25 years together</a>, Susan left Omaha for San Francisco. She wanted to pursue her own life—particularly a singing career—and perhaps needed more than a man consumed by balance sheets and annual reports.
"She felt less needed than I should have made her feel," Buffett admitted. "Your spouse starts coming second. She kept me together for a lot of years… She didn't want to be Mrs. Big… She loved me, and she still loves me, and we have an incredible relationship. But still… it shouldn't have happened. And it's totally my fault."
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Despite the separation, the two never divorced. They remained close—so close, in fact, that Susan introduced Warren to Astrid Menks, the woman who would eventually <a href="https://www.benzinga.com/personal-finance/24/10/41380899/warren-buffetts-second-marriage-was-a-frugal-affair-with-a-discounted-ring-dinner-at-bonefish-gr">become his second wife</a>.
That introduction wasn't random. Susan and Astrid had become friends at The French Café in Omaha, where Susan occasionally performed and Astrid worked as a hostess. Knowing Warren's domestic blind spots, Susan asked Astrid to look after him. She moved in soon after. The setup was unconventional, but it worked—for all three of them.
The <a href="https://www.benzinga.com/24/12/42364120/warren-buffett-was-married-to-one-woman-lived-with-another-and-sent-christmas-cards-signed-by-all-3-daughter-says-not-a-bad-thing">trio even sent out joint holiday cards</a> signed, "Warren, Susan and Astrid."
After Susan's death in 2004, Warren and Astrid married in 2006. But even then, the legacy of Susan's presence in his life loomed large.
"She loved him and takes care of him. If Warren didn't have a cent, she'd be with him," his daughter <a href="https://www.nytimes.com/2006/09/01/business/01buffett.html">Susie Buffett told The New York Times in 2006</a>, speaking about Astrid's commitment. She also described the connection between her mother and Astrid: "Astrid and my mother were very close—really loved each other."
See Also: The team behind $6B+ in licensing deals is now building the next billion-dollar IP empire — <a href="https://www.benzinga.com/money/elf-labs-ym?v=123">invest early at $2.25/share.</a>
And of her parents' arrangement, she added, "Unconventional is not a bad thing. More people should have unconventional marriages."
Susan had once told her daughter that she didn't want to simply be known as the wife of a billionaire. "She basically wanted a room of her own," Susie said. "They were very connected in a very deep way. They didn't need to be in the same room."
In the end, Warren Buffett didn't lose Susan. He just lost the version of their relationship that looked traditional on paper. What they built instead was far more complicated—and in many ways, more enduring.
And yes, she introduced him to the woman who would become his partner after her death. It's not your standard love triangle, but nothing about Buffett's life—not even the romance—has ever followed the market.
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</ul>
Image: Shutterstock

Warren Buffett Calls Letting First Wife Move Out His 'Biggest Mistake' — Admits It Was '99%' His Fault, Yet She Introduced Him to His Current Wife

<a href="https://www.benzinga.com/content/43388818/3-stocks-to-gain-from-trumps-family-caregiver-tax-credits">Caregiving is a growing reality</a> for many Americans, with financial, emotional, and professional impacts that are often long-lasting. As more adults take on the responsibility of caring for loved ones, new data reveals the scale of their challenges.
Edward Jones, in partnership with Morning Consult and Age Wave, <a href="https://www.edwardjones.com/us-en/why-edward-jones/news-media/press-releases/caregiver-support#_ftn1">surveyed</a> 3,100 U.S. adults. Here&#8217;s what they found: 
<ul class="wp-block-list">
<li>40% currently identify as family caregivers.</li>
<li>Nearly half of Americans (46%) are expected to become caregivers in the future.</li>
<li>56% of caregivers cite rising costs and inflation as top financial concerns.</li>
<li>95% have at least some level of concern about saving enough for retirement. </li>
<li>Over half (51%) say they've had to cut back on personal spending due to caregiving responsibilities.</li>
</ul>
See Also: <a href="https://www.benzinga.com/markets/25/04/45061911/kevin-oleary-urges-americans-to-rethink-retirement-goals-says-social-security-alone-wont-cut-it-throw-out-your-plan-for-freedom-at-55-or-even-65">Kevin O&#8217;Leary Urges Americans To Rethink Retirement Goals</a>
The emotional impact of caregiving is also notable. According to the report, 89% of caregivers view their role as emotionally significant, with 83% reporting stress and 77% experiencing burnout. Two-thirds say it's difficult to prioritize their own health while managing care for others.
Career impacts are also widespread. One in four caregivers (25%) have <a href="https://www.benzinga.com/money/retirement-planning-guide">left the workforce</a>, while 24% have reduced their hours. Some have taken on debt (22%) or drawn from retirement savings (16%) to cover caregiving costs. Despite these pressures, many caregivers report positive outcomes: 80% say caregiving has strengthened their relationships, and over 80% report feelings of fulfillment and appreciation.
The report notes that 57% of caregivers have not sought <a href="https://www.benzinga.com/money/financial-advisor-vs-financial-planner">professional financial advice</a>, but among those who have, 93% say it increased their confidence about the future. Most Americans—across political lines—support public policies to assist caregivers, including expanded retirement savings options and workplace benefits such as financial support or flexible schedules.
With caregiving needs expected to rise, the report highlights increasing demand for support systems, financial planning resources, and policy changes to better address the needs of caregivers across the country.
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</ul>
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Financial Advisors

How Caregiving Is Reshaping Retirement And Spending Habits

Elon Musk, head of X and CEO of Tesla Inc, has announced his renewed commitment to work on xAI and Tesla technologies amidst recent operational difficulties.
What Happened: In response to a post on X about Saturday&#8217;s outages possibly linked to a data center fire in Oregon, Musk expressed his dedication to improving operations. 
He mentioned spending all his time at work and even sleeping in conference, server, or factory rooms. His post emphasized the need for major operational improvements, particularly in light of the recent uptime issues with XAI.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Back to spending 24/7 at work and sleeping in conference/server/factory rooms. I must be super focused on &#120143;/xAI and Tesla (plus Starship launch next week), as we have critical technologies rolling out. As evidenced by the &#120143; uptime issues this week, major operational…
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1926289580623380780?ref_src=twsrc%5Etfw">May 24, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Also Read: <a href="https://www.benzinga.com/general/social-media/25/01/42805588/elon-musk-announces-changes-to-x-over-negativity-concerns-too-much-negativity-is-being-pushed">Elon Musk Announces Changes to X Over Negativity Concerns: &#8216;Too Much Negativity Is Being Pushed&#8217;</a>
According to Musk, the failover redundancy, a critical aspect of operational stability, did not function as expected. This issue, he suggested, was a key factor in the recent outages.
Why It Matters: Musk&#8217;s post underscores the importance of the upcoming technologies from Tesla and XAI. His commitment to personally oversee these improvements indicates the critical nature of these projects. 
The recent outages and operational issues have highlighted the need for robust and reliable systems, particularly as these technologies continue to roll out.
Furthermore, Musk&#8217;s mention of the upcoming Starship launch next week suggests a busy schedule for the tech mogul. His decision to intensify his focus on these projects at this time underscores the significance of these initiatives for the future of Tesla and XAI.
Read Next
<a href="https://www.benzinga.com/news/24/02/37301290/elon-musk-is-still-attempting-to-defend-hateful-speech-amid-xs-growing-pains-and-public-backlash-rep" target="_blank" rel="noreferrer noopener">Elon Musk Is Still Attempting To Defend Hateful Speech Amid X's Growing Pains And Public Backlash</a>
Image: Shutterstock/JRdes

Elon Musk Commits To Intense Focus on X/xAI and Tesla: 'Back To Spending 24/7 at Work, Sleeping in Conference/Server/Factory Rooms'

These large-cap stocks were the worst performers in the last week. Are they in your portfolio?
<ol class="wp-block-list">
<li>Fair Isaac Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FICO#NYSE">FICO</a>) shares declined 23.05% due to comments from Bill Pulte, director of the Federal Housing Finance Agency. He expressed concerns over the company's decision to raise its wholesale <a href="https://www.benzinga.com//node/45567740" target="_blank" rel="noreferrer noopener">royalty fees for credit scores.</a></li>
<li>Deckers Outdoor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) stock tumbled 21.00% after the company reported fourth-quarter earnings and <a href="https://www.benzinga.com//node/45591758" target="_blank" rel="noreferrer noopener">analysts downgraded the stock</a>.</li>
<li>Booz Allen Hamilton Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>) shares plummeted 16.32% after it reported <a href="https://www.benzinga.com//node/45587393" target="_blank" rel="noreferrer noopener">fiscal fourth-quarter results</a>.</li>
<li>Copart, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>) shares decreased 15.93% after reporting a <a href="https://www.benzinga.com//node/45574729" target="_blank" rel="noreferrer noopener">third-quarter revenue miss</a>.</li>
<li>Hims &amp; Hers Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>) stock declined 15.19% as the U.S. Food and Drug Administration's (FDA) ban on compounded drugs <a href="https://www.benzinga.com//node/45567780" target="_blank" rel="noreferrer noopener">with semaglutide takes effect</a>.</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) stock fell 13.13%. the company announced that it is now taking orders for enterprise AI systems with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) RTX PRO 6000 <a href="https://www.benzinga.com//node/45490921" target="_blank" rel="noreferrer noopener">Blackwell Server Edition GPUs</a>.</li>
<li>Workday, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) shares dipped 12.83% after it reported its fiscal first-quarter results and <a href="https://www.benzinga.com//node/45591957" target="_blank" rel="noreferrer noopener">analysts revised the price forecast</a>.</li>
<li>Burlington Stores, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BURL#NYSE">BURL</a>) shares were down 12.73%. The stock fell on pin action with Ross Stores, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>), which issued second-quarter <a href="https://www.benzinga.com//node/45576055" target="_blank" rel="noreferrer noopener">EPS guidance below estimates</a>.</li>
<li>Aurora Innovation, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUR#NASDAQ">AUR</a>) stock fell 11.34% last week after Uber Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) announced plans to monetize part of its stake in the autonomous vehicle company through a $1 billion <a href="https://www.benzinga.com/news/offerings/25/05/45393539/aurora-innovation-stock-drops-after-the-bell-whats-going-on" target="_blank" rel="noreferrer noopener">conver</a><a href="https://www.benzinga.com//node/45414625" target="_blank" rel="noreferrer noopener">t</a><a href="https://www.benzinga.com/news/offerings/25/05/45393539/aurora-innovation-stock-drops-after-the-bell-whats-going-on" target="_blank" rel="noreferrer noopener">ible note offering</a>.</li>
<li>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) stock fell 11.25% last week after the House <a href="https://www.benzinga.com//node/45568107" target="_blank" rel="noreferrer noopener">passed a tax bill</a> to end clean energy credits.</li>
</ol>
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Super Micro Computer, Hims & Hers And Aurora Innovation Are Among Top 10 Large-Cap Losers Last Week (May 19-May 23): Are The Others In Your Portfolio?

Anthropic chief executive Dario Amodei thinks that the first billion-dollar company staffed by exactly one human will appear as early as 2026.
What Happened: At the Anthropic's Code with Claude developer summit, Amodei was specifically asked when the first billion-dollar company with one human employee would happen, to which he confidently responded, &#8220;2026.&#8221; The answer intrigued a crowd of founders, betting that large-language-model agents can replace whole departments.
Amodei's one-person-unicorn claim landed moments after he unveiled Claude Opus 4 and Claude Sonnet 4, the firm's most powerful models yet. Anthropic, a startup backed by both Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), says Opus 4 can sustain multi-hour coding sprints, reason across sprawling research briefs and even beat vintage Pokémon games.
See also: <a href="https://www.benzinga.com/general/entertainment/25/05/45581252/marvel-delays-robert-downey-jr-starrer-avengers-doomsday-and-secret-wars-to-december-2026-but-disney-has-a-summer-blockbuster-in-store">Marvel Delays Robert Downey Jr. Starrer &#8216;Avengers: Doomsday&#8217; And &#8216;Secret Wars&#8217; To December 2026, But Disney Has A Summer Blockbuster In Store</a>
Amodei also shrugged off concerns that hallucinations will derail lean startups, telling reporters the latest Claude family "probably hallucinate less than humans, but they hallucinate in more surprising ways," responding to a <a href="https://techcrunch.com/2025/05/22/anthropic-ceo-claims-ai-models-hallucinate-less-than-humans/">query</a> by TechCrunch. Still, according to a <a href="https://www.wired.com/story/anthropic-new-model-launch-claude-4/">report</a> by WIRED, Anthropic classed Opus 4 as an ASL-3 safety-level model and said it cut reward hacking behavior by 65 percent versus earlier releases, acknowledging the risks of handing so much autonomy to software.
Why It Matters: If Amodei is right, revenue-per-employee ratios could dwarf anything seen in the dot-com or mobile eras, upending how investors value headcount. The Anthropic CEO has already warned his own staff that AI will "change how they work" long before it replaces them, claims Bloomberg, mirroring the disruption he predicts for the wider labor market.
Amodei's forecast aligns with moves by rivals: OpenAI's <a href="https://www.benzinga.com/25/01/43186741/openai-debuts-operator-ai-agent-that-performs-web-tasks-but-early-error-has-sam-altman-scrambling-for-a-quick-fix">Operator agent</a> promises "hands-free" workflows, while Google just put its <a href="https://www.benzinga.com/tech/25/03/44487389/sundar-pichai-shows-off-googles-most-intelligent-ai-ever-with-a-dinosaur-video-game-that-even-you-could-make-with-a-simple-prompt">Gemini 2.5 Pro</a> model inside Chrome for end-to-end task automation. Venture backers see these rollouts as confirmation that an economy of &#8216;agents&#8217; is around the corner.
Photo Courtesy: Gorodenkoff on Shutterstock.com
Read next: <a href="https://www.benzinga.com/tech/25/05/45581375/microsoft-executive-says-companies-might-be-naming-ai-chiefs-but-they-risk-losing-momentum-in-the-artificial-intelligence-age-if-they-rely-on-individuals">Microsoft Executive Says Companies Might Be Naming &#8216;AI Chiefs&#8217; But They Risk Losing Momentum In The Artificial Intelligence Age If They Rely On Individuals</a>

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Jeff Bezos-Backed Anthropic's CEO Says The First Billion Dollar Company Staffed By One Person Will Appear Next Year — Hallucinations Unlikely To Delay Lean Startups

<h2 class="wp-block-heading">Zinger Points:</h2>
<ul class="wp-block-list">
<li>Harvard's federal funding cuts now total $2.65 billion, with $450 million slashed last week</li>
<li>Eight Ivy League schools face collective cuts surpassing $11 billion</li>
<li>Thirteen universities sue National Science Foundation over research funding caps, citing risks to U.S. innovation</li>
</ul>
The Trump administration has intensified its campaign against elite academic institutions, slashing an additional $450 million in federal grants to Harvard University last week. This follows April's <a href="https://in.benzinga.com/25/04/44804541/trump-administration-halts-2-2-billion-in-harvard-grants-after-university-says-dont-dictate-what-we-can-teach-or-who-we-admit">halt of $2.2 billion</a> in funding after university leaders resisted administration demands over academic policies, bringing total cuts to $2.65 billion.
Harvard President Alan Garber <a href="https://www.harvard.edu/president/news/2025/our-research-enterprise/">said in a statement </a>that the federal government has frozen over $2 billion in awarded grants and begun terminating active research contracts, halting lifesaving projects and threatening years of work. The university has pledged $250 million in central funding to sustain mission-critical projects during a transitional period. While avoiding specifics, Harvard stated that financial constraints will require its schools to adjust research programs and identify necessary savings as it navigates the ongoing disruption in federal funding.&nbsp;
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<h2 class="wp-block-heading">The Ivy League Bloodbath</h2>
Harvard is not alone in facing these financial challenges. Eight other elite universities, including Columbia, Cornell, and the University of Pennsylvania, have collectively faced over $11 billion in federal funding reductions since January, <a href="https://www.npr.org/2025/04/25/nx-s1-5375033/trump-federal-grants-cuts-universities-could-mean">NPR</a> reported.&nbsp;
Massachusetts Institute of Technology President Sally Kornbluth has expressed concern that federal funding cuts could undermine U.S. technological leadership, emphasizing the need for sustained investment to maintain competitiveness. In a <a href="https://president.mit.edu/writing-speeches/response-proposed-cuts-nih">statement</a>, she highlighted potential disruptions to critical research in areas such as semiconductor materials and emerging pathogens, underscoring the importance of continued support for these vital fields.
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — <a href="https://www.benzinga.com/money/boxabl-scaling-fast-from-spacex-orders-to-600-homes-built-this-60k-foldable-home-may-be-the-future-of-housing">this is your last chance to become an investor for $0.80 per share.</a>
<h2 class="wp-block-heading">Legal Action and Market Impact</h2>
In response, Harvard amended its lawsuit against the administration last week, accusing officials of unconstitutional coercion over academic governance, the <a href="https://www.nytimes.com/2025/05/13/us/harvard-trump-lawsuit.html">New York Times</a> reported. Meanwhile, MIT and 12 other top universities—including Princeton, California Institute of Technology, and the University of Michigan—have filed a separate lawsuit challenging the National Science Foundation's decision to cap indirect research cost reimbursements at 15%, a move that could cost MIT alone an estimated $35 million annually. The universities contend that the new caps will severely undermine scientific research and threaten the nation&#8217;s innovation edge, Reuters reported.
These funding reductions signal a dramatic departure from the government-university partnership that powered U.S. innovation for decades. "This fractures the innovation pipeline that shaped entire industries," New York University finance professor Sabrina Howell told NPR, citing breakthroughs like GPS originating from federally funded research.
See Also: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.&nbsp;
<h2 class="wp-block-heading">What's Next?</h2>
Oral arguments in Harvard's lawsuit are scheduled for July, while MIT's case against the NSF could set a precedent for more than 200 U.S. research institutions. <a href="https://president.columbia.edu/news/preserving-columbias-critical-research-capabilities">Columbia has announced</a> 180 layoffs, <a href="https://paw.princeton.edu/article/princeton-braces-budget-cuts-possible-layoffs">Princeton</a> is preparing for up to 10% budget cuts, and <a href="https://president.msu.edu/communications/2025/03182025_Federal-impact-update">Michigan State</a> has warned of significant research losses tied to National Institutes of Health funding.&nbsp;
As tensions mount, the outcome of these legal battles may determine how much influence future administrations wield over academic funding — and whether elite institutions can remain insulated from shifting political priorities.
Read Next:
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<li>Nancy Pelosi Invested $5 Million In An AI Company Last Year — <a href="https://www.benzinga.com/money/elf-labs-ym?v=123">Here's How You Can Invest In Multiple Pre-IPO AI Startups With Just $1,000.</a></li>
<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.30/share!</a></li>
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Image: Shutterstock

Trump Escalates War On Ivy League: Harvard Loses $450M More in Federal Grants

Jon Stewart recently expressed apprehension regarding President Donald Trump&#8216;s actions amidst ongoing lawsuits and tributes from media companies and billionaires.
What Happened: Stewart, on The Bill Simmons Podcast this week, depicted Trump as a &#8220;king&#8221; accepting &#8220;tributes&#8221; from media companies and billionaires. He expressed fear that Trump might opt to &#8220;burn our f&#8212;ing country down for the insurance money.&#8221;
Stewart&#8217;s remarks followed Trump&#8217;s lawsuit against the media house CBS, accusing the network of election interference due to the alleged deceptive editing of an interview with then-Vice President Kamala Harris. CBS has refuted any dishonest editing and is currently in mediation with Trump&#8217;s team.
This lawsuit has triggered significant changes within CBS, including the exit of &#8220;60 Minutes&#8221; producer Bill Owens. This development comes as CBS&#8217;s parent company, Paramount Global, is in the process of seeking approval for a merger with Skydance.
Also Read: <a href="https://www.benzinga.com/news/25/05/45601025/trumps-mar-a-lago-neighbor-lists-home-for-12-5-million-32-times-original-price">Trump&#8217;s Mar-a-Lago Neighbor Lists Home for $12.5 Million — 32 Times Original Price</a>
During the <a href="https://podcasts.apple.com/us/podcast/the-bill-simmons-podcast/id1043699613">podcast</a>, Stewart also highlighted&nbsp;the potential $50 million settlement&nbsp;from the CBS lawsuit, drawing parallels with other large amounts Trump has received, such as the&nbsp;$40 million deal between Amazon&nbsp;and First Lady Melania Trump&nbsp;for a documentary,&nbsp;and the $15 million ABC&nbsp;News paid to Trump in&nbsp;a defamation suit.
Stewart criticized&nbsp;media companies settling with the&nbsp;president, calling it an &#8220;awful precedent,&#8221; and expressed worry about what Trump&#8217;s subsequent actions might be.
Why It Matters: Stewart&#8217;s concerns reflect the growing unease among some sections of the public regarding the influence of media companies and billionaires on political figures. The potential implications of Trump&#8217;s lawsuits and the subsequent settlements could set a precedent for future interactions between media companies and political figures. 
Furthermore, the ongoing legal battles and their outcomes could have significant impacts on the media landscape and the political climate in the United States.
Read Next
<a href="https://www.benzinga.com/tech/24/12/42714387/tech-titans-warm-up-to-donald-trump-who-says-everybody-wants-to-be-my-friend-claims-bill-gates-asked-to-come-to-mar-a-lago" target="_blank" rel="noreferrer noopener">Tech Titans Warm Up To Donald Trump, Who Says ‘Everybody Wants To Be My Friend,' Claims Bill Gates Asked To Come To Mar-a-Lago</a>
Image: Shutterstock/Darwin Brandis

Politics

Jon Stewart: Trump Is a 'King' Accepting 'Tributes' From Billionaires

These large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol class="wp-block-list">
<li>IonQ, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>) stock jumped 30.58% after CEO Niccolo de Masi made bold statements <a href="https://www.benzinga.com//node/45576711" target="_blank" rel="noreferrer noopener">comparing the company&#8217;s trajectory</a> to that of Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).</li>
<li>United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) shares increased by 28.90%. Nippon Steel Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NPSCY#OTC">NPSCY</a>) has pledged to invest $14 billion <a href="https://www.benzinga.com//node/45510183" target="_blank" rel="noreferrer noopener">in the company&#8217;s</a><a href="https://www.benzinga.com//node/45510183" target="_blank" rel="noreferrer noopener"> </a><a href="https://www.benzinga.com//node/45510183" target="_blank" rel="noreferrer noopener">operations</a>.</li>
<li>CoreWeave, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>) shares escalated 27.95%, driven by recent developments <a href="https://www.benzinga.com//node/45570628" target="_blank" rel="noreferrer noopener">and analysts price revisions</a>.</li>
<li>Amer Sports, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AS#NYSE">AS</a>) shares rose 18.95% after the company reported first-quarter FY25 results, and analysts <a href="https://www.benzinga.com//node/45545012" target="_blank" rel="noreferrer noopener">boosted their forecast on the stock</a>.</li>
<li>Venture Global, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VG#NYSE">VG</a>) stock grew 16.34%.</li>
<li>GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) shares rose 16.10%, potentially driven by renewed retail enthusiasm and rising crypto market momentum, as Bitcoin (CRYPTO: BTC/USD) <a href="https://www.benzinga.com//node/45569674" target="_blank" rel="noreferrer noopener">hit a record high above $111,000</a>.</li>
<li>Korea Electric Power Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEP#NYSE">KEP</a>) stock upped 14.54%.</li>
<li>Cameco Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCJ#NYSE">CCJ</a>) shares grew 14.47% on reports indicating Trump will sign executive orders to ease regulatory <a href="https://www.benzinga.com//node/45590362" target="_blank" rel="noreferrer noopener">requirements for new reactors</a>.</li>
<li>Ryanair Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RYAAY#NASDAQ">RYAAY</a>) shares increased 12.06%.</li>
<li>Gold Fields Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFI#NYSE">GFI</a>) stock upped 11.87% as gold and silver prices gained following President Trump&#8217;s EU tariff threat.</li>
<li>Agnico Eagle Mines Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>) stock rose 10.49% as gold and silver prices gained following President Trump&#8217;s EU tariff threat.</li>
</ol>
Image Via Shutterstock

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GameStop, IonQ, And CoreWeave Are Among Top 11 Large-Cap Gainers Last Week (May 19-May 23): Are The Others In Your Portfolio?

The past week in tech has been a whirlwind of AI-related news. From Marc Andreessen&#8217;s optimistic outlook on AI&#8217;s economic potential to Mark Cuban&#8217;s skepticism about corporate adoption, the conversation around artificial intelligence is heating up. In the meantime, Oracle is making big investments in Nvidia&#8217;s AI chips, Alphabet is leveraging AI for Google Search dominance, Microsoft and Nvidia are deepening their supercomputing alliance, and Elon Musk&#8217;s Grok AI is raising eyebrows in government agencies. Here&#8217;s a recap of the top stories.
Andreessen&#8217;s AI Optimism Meets Cuban&#8217;s Corporate Realism&nbsp;&#8211; Venture capitalist&nbsp;Marc Andreessen&nbsp;has previously touted AI as a potential economic catalyst, a viewpoint that billionaire entrepreneur&nbsp;Mark Cuban&nbsp;has challenged, citing corporate resistance to freely allowing AI to flourish.&nbsp;<a href="https://www.benzinga.com/tech/25/05/45560085/marc-andreessen-once-predicted-that-ai-could-save-the-economy-but-mark-cuban-thinks-corporations-will-fight-to-keep-profits-high">Read the full article here.</a>
Oracle&#8217;s $40 Billion AI Investment &#8211; Tech giant Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) is reportedly planning to spend a whopping $40 billion on 400,000 of Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) GB200 AI &#8220;superchips&#8221; for a new data center in Texas, part of a massive AI infrastructure project. <a href="https://www.benzinga.com/markets/equities/25/05/45599854/oracle-to-spend-40-billion-on-nvidia-gb200-chips-for-openais-texas-data-center-report">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/25/05/45582499/gary-black-slams-teslas-unsupervised-autonomous-driving-ahead-of-austin-robotaxi-launch-i-have-warned" target="_blank" rel="noreferrer noopener">Gary Black Slams Tesla&#8217;s Unsupervised Autonomous Driving Ahead Of Austin Robotaxi Launch: &#8216;I Have Warned&#8230;&#8217;</a>
Alphabet&#8217;s AI-Driven Google Search Dominance &#8211; Analysts are optimistic about the potential impact of new products and features from Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) following the company&#8217;s I/O developer conference, seeing AI disruption as a tailwind for the tech giant. <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45548615/alphabet-well-positioned-for-google-search-dominance-analyst-says-can-navigate-the-shift-to-ai-search">Read the full article here.</a>
Microsoft and Nvidia&#8217;s Supercomputing Alliance &#8211; Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Nvidia Corp. are expanding their supercomputing partnership, with CEOs Satya Nadella and Jensen Huang touting a &#8220;40x speed-up&#8221; in Azure-powered AI infrastructure. <a href="https://www.benzinga.com/markets/equities/25/05/45510847/jensen-huang-satya-nadella-tout-40x-speed-up-in-azure-powered-ai-as-microsoft-nvidia-deepen-supercomputing-alliance">Read the full article here.</a>
Musk&#8217;s Grok AI Raises Privacy Concerns&nbsp;&#8211;&nbsp;Elon Musk&#8217;s&nbsp;AI chatbot, Grok, is reportedly being deployed across U.S. government agencies, raising concerns about potential privacy law breaches and conflicts of interest.&nbsp;<a href="https://www.benzinga.com/25/05/45599514/elon-musks-grok-ai-is-quietly-being-deployed-across-us-government-agencies-experts-warn-it-could-breach-privacy-laws-and-create-serious-conflicts-of-interest-report">Read the full article here.</a>
Read Next:
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<li><a href="https://benzinga.com/markets/25/05/45599817/apple-would-rather-absorb-a-25-iphone-tariff-than-move-production-to-the-us-says-analyst-no-guarantee-the" target="_blank" rel="noreferrer noopener">Apple Would Rather Absorb A 25% iPhone Tariff Than Move Production To The US, Says Analyst: &#8216;&#8230;No Guarantee They Won&#8217;t Face Repeated Tariff Threats During His Term&#8217;</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>
Photo courtesy: jamesonwu1972 / Shutterstock.com

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As <a href="https://www.benzinga.com/news/25/05/45473268/elon-musk-calls-it-painful-and-difficult-why-teslas-full-self-driving-buyers-may-need-a-surprise-hardware-swap">self-driving cars</a> inch closer to the mainstream, one of the biggest unanswered questions isn't just how they'll navigate traffic—but how they'll reshape risk. If there's no driver behind the wheel, is it still "driver error"? And if the software crashes, will the insurer or the carmaker pick up the tab?
Earlier this month at the Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>, BRK.B)) annual shareholders meeting, that question was posed to Warren Buffett and Ajit Jain, the company's vice chairman of insurance.
"Wouldn't what we call <a href="https://www.benzinga.com/personal-finance/25/01/43030050/warren-buffett-says-insurance-is-the-most-important-business-and-the-engine-driving-berkshires-success-since-1967">auto insurance today </a>just become product liability for autonomous vehicles and autonomous software companies?" the attendee asked.
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Ajit answered first, laying it out clearly:
"There's no question that insurance for automobiles is going to change dramatically once self-driving cars become a reality," he said.&nbsp;
"Most of the insurance that is sold and bought revolves around operator errors… To the extent these new self-driving cars are more safe and are involved in fewer accidents, that insurance will be less required. Instead, it'll be substituted by, as you mentioned, product liability."
He confirmed that Geico and other insurers are already trying to prepare for the shift—from covering human mistakes to covering technology failures.
"We move from providing insurance for operator errors and be more ready to provide protection for product errors and errors and omissions in the construction of these automobiles," he said.
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Buffett followed up with a bigger-picture take on how Berkshire thinks about change—across all its businesses.
"We expect change in all our businesses," Buffett said. "If the game didn't change at all, it really wouldn't be very interesting."
He compared the need for change to sports: if every swing in baseball resulted in a home run, or every golf shot became a hole-in-one, the game wouldn't be worth playing. Challenges keep it engaging—and thinking through those challenges is part of what keeps companies and people sharp.
"Your brain would turn to mush if you didn't have a few problems now and then," he added.
Buffett acknowledged that while auto insurance will change, it's striking how little it has changed so far. He noted how transportation itself evolved drastically over the last two centuries, and no one really knows how it will look in the next hundred years.
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But while driving deaths have dropped dramatically—from six per 100 million miles driven to just over one—insurance costs have skyrocketed. He recalled walking into Geico's office in 1950 when the average policy cost was "around 40 bucks a year." Now? It's not unusual to see policies climb into the $2,000+ range—and higher in urban areas.
Jain chimed back in with one more important point: autonomous driving might reduce accidents overall, but it <a href="https://www.benzinga.com/personal-finance/25/01/43083417/charlie-munger-said-he-and-warren-buffett-skip-insurance-and-all-rich-should-too-i-can-so-easily-rebuild-a-house-that-would-burn-down">doesn't mean insurance will get cheaper</a>.
"The number of accidents will drop dramatically because of automatic driving," he said. "But on the other hand, the cost per repair every time there's an accident will go up very significantly because of the amount of technology that's going into the car."
So while Geico and others may sell fewer policies for human error, the cost of insuring the tech itself could be just as complex—if not more.
Buffett closed the conversation with a philosophical note about change and uncertainty:
"You deal with the world as it develops. You never reach an answer in this business—you reach a point of action that you take."
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Warren Buffett Was Asked If Self-Driving Cars Will Shift Insurance To 'Product Liability' — 'There's No Question… It's Going to Change Dramatically'

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