Milken Conference: Elon Musk asks US govt to use AI to replace functions of some workers
Bloomberg
Published 5 May 2025, 04:10 PM IST
Elon Musk called the US government inefficient and said artificial intelligence should be used to replace the functions currently done by some public workers, according to a person who attended the closed-door session at the Milken Institute Global Conference.
In a wide-ranging conversation on Sunday with financier Michael Milken, Musk also spoke about his brain-implant company, Neuralink, and ongoing developments at SpaceX, according to the person.
Musk's comments come as he prepares to wind down his role leading the Department of Government Efficiency, or DOGE — the flagship Trump administration project aimed at shrinking the federal workforce, cutting costs, and dismantling agencies including the US Agency for International Development. Musk, the world's richest man, has said in recent weeks that his work with DOGE is nearly complete.
The Tesla CEO is facing increasing pressure to refocus on the electric carmaker as sales decline and investor concerns mount over his divided attention. On a recent earnings call, Musk said he will devote far more of his time to Tesla beginning in May.
Now in its 28th year, the Milken conference brings together top financial leaders, policymakers and celebrities in Beverly Hills to explore the intersection of business and global challenges. Treasury Secretary Scott Bessent is scheduled to kick off the sessions on Monday with a talk on global capital markets.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time of India
an hour ago
- Time of India
Trump vs Musk: Billionaire investor Michael Moritz' advice to Silicon Valley, 'One of them is a medical monarch...'
Silicon Valley investor Michael Moritz took Elon Musk's side and said Trump's budget truly is abomination. Longtime Silicon Valley investor Michael Moritz said the tussle between Donald Trump and Elon Musk was inevitable as one of them is a medieval monarch and another is a revolutionary. In his column on Financial Times, Mortiz wrote that one man approached the government like a company and the other considers the government his company and Silicon Valley knows which to choose. Calling the eruption between Elon Musk and Donald Trump mortifying for those in Silicon Valley, Moritz backed Musk and said he is right in calling Donald Trump's budget an abomination. "I feel more than a tinge of sympathy for Musk. Unlike others, I don't believe he threw himself into this battle for personal gain or to wangle deals for his companies. He, like many, was disenchanted with a Democratic party that had lost its moorings, mismanaged California and whose leader, Joe Biden, let vanity conquer virtue. Sadly, he misjudged the character of the man with whom he threw in his lot," Mortiz wrote. Elon Musk is undoubtedly the most accomplished business builder of his generation, Moritz said. "But the government is not a company". Moritz said Musk failed to understand that Trump was more interested in the daily news cycle than in reform. "Musk is the revolutionary, the president the monarch". Musk also underestimated the way in which Trump's "cabinet and advisers, and all the targets in his crosshairs, were determined to fight him. He was the outsider. They were the occupants of the swamp." "What is the result of this meeting of company builder and medieval monarch? It's the opposite of what was promised: a US budget that has ballooned, debt levels that will only rise and crushing interest payments that make the country vulnerable to its largest creditors — Japan and China." Moritz took Elon Musk's side and said his reputation is now tarnished and his business interests hurt but Donald Trump's family business inked deals for new hotels and golf courses around the world. "One word of advice for those in Silicon Valley who followed Musk's lead and sided with Trump. Leave. Don't delude yourself that you are working to make crypto a part of global finance, minimising artificial intelligence regulation, helping start-up companies or protecting the interests of Silicon Valley. You have no sway. You are just cannon fodder," Moritz said.


Economic Times
an hour ago
- Economic Times
US stock market today: S&P 500 flat, Dow Jones down, Nasdaq‑100 up— biggest gainers, losers as Wall Street eyes US-China trade talks and potential tariff deal
How are the major indices performing? S&P 500 (SPY): Sitting steady at about 599.15, virtually unchanged from the previous close, remaining just under the 6,000 mark. Sitting steady at about 599.15, virtually unchanged from the previous close, remaining just under the 6,000 mark. Dow Jones Industrial Average (DIA): Dropping roughly 0.21% to 427.47, reflecting some investor caution. Dropping roughly 0.21% to 427.47, reflecting some investor caution. Nasdaq-100 (QQQ): Climbing around 0.16% to 530.77, fueled by strength in the tech sector. Which stocks are making the biggest moves? Warner Bros Discovery: Surging 7-9% following news of a company split. Surging 7-9% following news of a company split. IonQ: Up about 3% after announcing an acquisition of Oxford Ionics. Up about 3% after announcing an acquisition of Oxford Ionics. Merck: Rising 1.1%, boosted by positive trial results. Rising 1.1%, boosted by positive trial results. Nvidia: Gaining between 1.3% and 2.3%, riding the wave of AI enthusiasm. Gaining between 1.3% and 2.3%, riding the wave of AI enthusiasm. Qualcomm: Jumping 4.4% on completion of its Alphawave IP purchase. Jumping 4.4% on completion of its Alphawave IP purchase. Apple: Adding 0.7%, supported by new AI features unveiled at the WWDC event. Robinhood: Dropping 7.4% after being excluded from the S&P 500 index. Dropping 7.4% after being excluded from the S&P 500 index. Tesla: Down between 0.3% and 2%, impacted by a recent downgrade and fallout from Musk-related news. Down between 0.3% and 2%, impacted by a recent downgrade and fallout from Musk-related news. EchoStar: Falling 8.2% amid bankruptcy rumors. Live Events Why are the US and China meeting now — and what's at stake for the stock market? What's driving the stock market recovery in 2025? Are tariffs still in effect, and why does it matter now? Could US-China trade deals shape the next market trend? What's driving the market today? Trade talks between the U.S. and China in London continue to shape investor sentiment, contributing to the Dow's decline and a slight Nasdaq boost. in London continue to shape investor sentiment, contributing to the Dow's decline and a slight Nasdaq boost. Inflation concerns remain front and center , with traders awaiting this week's CPI and core PCE data releases. Expectations suggest the Federal Reserve may hold interest rates steady for now. , with traders awaiting this week's CPI and core PCE data releases. Expectations suggest the Federal Reserve may hold interest rates steady for now. Sector trends show technology stocks powering the gains, while healthcare lags behind. What should investors watch next? FAQs: (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The US stock market opened slightly weaker on Monday, June 9, as Wall Street turned its attention to critical trade talks between the United States and China. Early trading saw the Dow Jones Industrial Average fall by 185 points, or about 0.5%, marking a cautious start to the week. The S&P 500 dipped 0.1%, while the Nasdaq Composite edged up slightly by 0.1% around 9:35 a.m. Eastern are closely watching the developments in London, where senior officials from both countries are meeting to ease long-standing trade tensions. The discussions aim to address a range of economic disputes and possibly roll back mutual tariffs that have been weighing on global supply chains for week's US-China trade talks are seen as pivotal for the global economy. Tariffs imposed in past years have disrupted everything from electronics to heavy equipment. Though those tariffs are currently paused, no permanent deal has been believe that progress in these talks could help avoid a potential economic slowdown or even a recession, especially if they result in the reduction or removal of tariffs on both sides. A positive outcome could also reignite investor confidence and fuel another leg up in the US stock market modest moves reflect investor hesitancy. Market players are clearly waiting for concrete news before making big decisions. The S&P 500 remains just 2.5% below its all-time high, buoyed by hopes that the US may reach trade agreements that roll back tariffs major factor behind the stock market's strong recovery has been the belief that President Donald Trump will reduce trade barriers as part of broader global deals. After plunging by nearly 20% from its peak two months ago, the S&P 500 has made a swift optimism is largely driven by expectations that smoother trade relations — particularly with major economies like China — will relieve pressure on multinational companies and bring stability back to supply both the US and China have put a pause on new tariffs, but existing ones remain. These tariffs have cost industries billions, increased consumer prices, and created uncertainty for global important now is whether these paused tariffs are finally lifted. This could significantly improve the flow of goods, lower costs, and potentially lead to more business investments, especially in sectors like tech, agriculture, and Any meaningful breakthrough in US-China trade negotiations could serve as a key catalyst for markets. Investors are looking for long-term clarity, not just temporary Monday's talks in London show signs of real progress, we could see increased investor confidence, reduced market volatility, and fresh momentum across Dow Jones, S&P 500, and without a deal, continued uncertainty could weigh on the markets in the coming should keep a close eye on the statements or outcomes from the US-China meetings. Any mention of progress on tariff rollbacks, trade agreements, or economic cooperation could trigger immediate market also worth noting that the Federal Reserve's next move, broader economic indicators, and the 2024 US election climate remain in focus as secondary factors influencing the market Dow Jones dropped due to investor caution ahead of the US-China trade talks aim to ease tariffs and settle long-running trade disputes affecting the global economy.

Mint
an hour ago
- Mint
Apple WWDC 2025 LIVE Updates: Revamped iOS 26, SIRI upgrades and what more to expect
Apple WWDC 2025 Live updates: iPadOS and macOS serve different devices—iPads and Mac computers—and have traditionally offered varying levels of functionality. Despite consistent hardware upgrades, iPad users have often voiced concerns about the software not keeping pace, especially when it comes to productivity tools. However, this year, Apple is expected to enhance multitasking capabilities and introduce improvements in app window management on iPadOS. The key question remains: will these updates bring the iPad experience closer to the versatility of a Mac? Apple WWDC 2025 Live updates: Although Apple is unlikely to unveil any new hardware — including the anticipated iPhone 17 lineup — during WWDC, recent leaks have shed light on what we might expect from the upcoming models. One such report suggests that the iPhone 17 Pro and iPhone 17 Pro Max may introduce support for dual video recording in iOS 26. This functionality would allow users to capture footage from both the front and rear cameras at the same time. While this capability has been available on various Android devices for some time, its arrival on iPhone could prove especially beneficial for vloggers and content creators seeking more dynamic shooting options. Apple WWDC 2025 Live updates: Apple could offer a glimpse into its next era of user experience at the Worldwide Developers Conference (WWDC) today. The company is expected to unveil iOS 26, a major visual overhaul that signals the company's boldest interface shift in more than a decade. The new operating system, expected to debut this autumn, could introduce what Apple reportedly calls a 'Liquid Glass' interface — a glossy, translucent design language that moves away from the flat minimalism first seen in iOS 7. The move is expected to mark a return to visual storytelling in Apple's software, under the leadership of human interface chief Alan Dye. Unlike the skeuomorphic era of early iPhones — when apps mimicked physical objects — this next iteration is said to evoke a more fluid, immersive experience. Industry analyst Mark Gurman, writing for Bloomberg, described it as Apple's most dramatic visual update since 2013. Apple WWDC 2025 Live updates: A recent media report reveals that Apple plans to let third-party developers add their own widgets to the Control Centre on watchOS. This update would allow users to create shortcuts for specific actions that can be quickly accessed by pressing the side button on their Apple Watch. Last year, with the release of iOS 18, Apple introduced similar functionality on iPhones, enabling users to add third-party buttons and widgets to the Control Centre, as well as resize and rearrange them for a customised layout. Apple WWDC 2025 Live updates: Apple is anticipated to introduce iOS 26, macOS 26, iPadOS 26, and other platform updates, along with enhancements to its native apps and services. These new software versions will likely initially be made available to developers for early testing. In the following weeks, public beta testers enrolled in Apple's pre-release programme may also gain access. After a testing period—typically lasting around three months—the final versions are expected to be released to users with compatible devices. Based on past patterns, the official rollout will likely take place in September. Apple WWDC 2025 Live updates: At WWDC 2024, Apple introduced a suite of AI-driven tools under the banner of Apple Intelligence. While several of these features have gradually made their way to compatible iPhones and Macs over the past few months, the most highly anticipated upgrade—a more conversational, AI-enhanced version of Siri—has yet to launch. This revamped Siri is expected to offer improved contextual awareness by drawing information directly from the user's device. However, recent reports indicate that Apple may not place significant emphasis on Apple Intelligence during this year's WWDC keynote, as development on the remaining features continues behind the scenes. Apple WWDC 2025 Live updates: Each year, Apple honours outstanding apps and games through its prestigious Design Awards, recognising innovation and excellence across multiple categories. For 2025, the company has named 12 winners, showcasing standout creations from developers around the world. Among the winners, Speechify was recognised in the Inclusivity category, while the game Balatro took home the award for Delight and Fun. Apple WWDC 2025 Live updates: While major updates to iOS, macOS, and other operating systems are anticipated at WWDC, a recent report suggests that Apple may also unveil a few smaller yet noteworthy enhancements. The Messages app is likely to receive a new feature enabling automatic translation of messages. Meanwhile, the Apple Music app on iOS 26 could introduce support for animated album artwork on the Lock Screen, adding a more dynamic visual element to the listening experience. Apple WWDC 2025 Live updates: Apple is set to kick off its annual Worldwide Developers Conference (WWDC) at Apple Park in Cupertino later today, where the tech giant is expected to unveil a host of software upgrades across its device ecosystem. The keynote, scheduled to begin at 10 AM Pacific Time (10:30 PM IST), will be streamed live via YouTube, Apple's website, and the official Apple app, with playback available on demand afterwards. This year's WWDC arrives at a critical juncture for the company. Despite Apple's global dominance in hardware, it has struggled to keep pace with rivals in the rapidly evolving AI space. Its rollout of Apple Intelligence features has faced delays and inconsistent implementation across devices, prompting growing scrutiny. However, today's announcements aim to refocus the conversation around innovation and future strategy. Apple WWDC 2025 Live updates: Perhaps the most symbolic shift will likely be the change in how Apple labels its software versions. Instead of continuing with the traditional numerical progression (which would have introduced iOS 19), Apple is expected to align its operating system names with the calendar year. This means that the upcoming versions could be titled iOS 26, iPadOS 26, macOS 26, and so on—marking a fresh start and a more intuitive naming system for users and developers alike. Apple WWDC 2025 Live updates: According to Bloomberg's Mark Gurman, the most eye-catching change could be a comprehensive redesign of the user interface across Apple's platforms. Borrowing heavily from visionOS, the new UI is expected to incorporate translucent layers and more pronounced lighting effects—what has been described internally as 'digital glass'. This aesthetic will bring a cleaner, more futuristic appearance, with redesigned toolbars, tab layouts, and app icons. Users may also gain access to context-sensitive controls, with buttons triggering quick menus of relevant actions—streamlining interaction and improving productivity across apps. Apple WWDC 2025 Live updates: Apple is also reportedly revamping key apps such as Phone, Safari, and Camera, particularly on iOS and iPadOS. The Camera app could see enhanced manual controls and AI-powered image optimisation, while Safari may get smarter web content summarisation and reading modes. Notably, AI will play a more prominent behind-the-scenes role this year. While Apple has so far taken a more conservative approach to generative AI compared to competitors, it is expected to introduce system-level AI improvements. These include features aimed at extending battery life by intelligently managing background tasks and optimising app performance. Apple WWDC 2025 Live updates: While hardware is not expected to take centre stage at this year's event, WWDC 2025 may serve as a crucial moment for Apple to reassert its relevance in a rapidly shifting tech landscape. With a reimagined user interface, deeper AI integration, and a strategic reset in branding, Apple hopes to convince both developers and consumers that its next chapter is just beginning.