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BI spoke with federal workers who voted for Trump. Some have come to regret it.

BI spoke with federal workers who voted for Trump. Some have come to regret it.

Yahoo17-03-2025

This post originally appeared in the Business Insider Today newsletter.
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Good morning. The backlash Tesla owners are facing over Elon Musk has crossed the pond. Here in London, a man says he was aghast when he was confronted about his vehicle in a parking lot.In today's big story, BI spoke with 10 federal workers who voted for Trump. Months later, some of them now regret it.
What's on deck
Markets: Rob Arnott thinks the market's tech stock sell-off isn't over.
Tech: BI reviewed a leaked ByteDance document showing TikTok staff being evaluated on their "ByteStyle" and more.
Business: Needy hospitals are trapped in a cycle of corporate plunder, Bethany McLean writes.
But first, some voters feel hoodwinked."I feel betrayed. This is not what I wanted, to let everybody lose their job."
That's what a two-time Trump voter who works for Veterans Affairs told BI. "You're fired. You're fired. You're fired. This is not 'The Apprentice.'"
So far, tens of thousands of workers have already lost their jobs as a result of DOGE's efforts to reshape the federal workforce.
With Elon Musk as de facto leader, the DOGE office initiatives have ranged from dismantling agencies like USAID to slashing budgets and sweeping layoffs — some of which have been reversed by court order.
Just a few months ago, some of the workers impacted by the cuts may have been celebrating Trump's election victory. They voted for a better economy, lower prices, or more stringent border controls.
What they didn't expect was an existential threat to their careers.
BI spoke to current and former federal workers who voted for Trump — and some have come to regret it.
"If I knew I was going to lose my job because Trump became president, no, I would not vote for him," one worker said.
Betrayal. Anger. Regret. You can read what all the workers told BI here.
For federal workers hoping to now pivot to the private sector, things might be tricky.
Lackluster corporate hiring, a shrinking middle-management job market, and pullbacks by universities are making the route to employment beyond federal agencies trickier to navigate, BI's Tim Paradis writes.
Federal workers also face a unique hurdle. Recruiters and career coaches told BI that many federal workers have the know-how to succeed in private industry, yet they might struggle to make that clear.
Adopting a key new skill might help them: translation.
1. Rob Arnott says the sell-off in tech stocks isn't over. "We're seeing the unwinding of a bubble," Arnott, the founder of Research Affiliates, told BI. He compared the current market to the peak of the dot-com bubble in 2000 and warned that the Magnificent Seven stocks are set to slide further.
2. Why China looks investible again. Just a year ago, investors fled the country in droves as they lost faith in its post-pandemic economy, with the CSI 300 dropping over 45%. Now, the country's stocks are rallying, thanks to a pro-tech shift from Beijing — and analysts are paying attention.
3. Follow these leaders for sharp insights on recessions. Leading economists are bracing for a recession, although there's been no official call yet. BI compiled a list of the best commentators on recessions, and the warning signs they're watching.
1. Amazon's DeepSeek scramble. When DeepSeek debuted in January, customer demand was so high Amazon rushed to add the AI to its development tool Bedrock. Now, Amazon wants to promote its products as an alternative to DeepSeek and is telling employees to point out its privacy and security issues, according to internal guidelines seen by BI.
2. Meet the Palantir Mafia. The software company's alumni have collectively raised more than $6 billion for their own startups, which include the social-gathering app Partiful and the defense-tech company Anduril. See BI's list of 30 Palantir alums who struck out on their own.
3. How TikTok scores employees. It's performance review season for TikTok employees, and BI viewed a rubric to see how they're scored. Workers are measured on Output, Leadership Principles, and ByteStyles — i.e. a set of workplace values. If an employee receives a low rating, though, they could end up on a PIP.
1. How wealthy investors keep bankrupting needy hospitals. As Steward Health Care closed hospitals and cut corners on care, its top officers got richer, and the profits kept flowing to its private-equity owner Cerberus. Now, its bankruptcy reveals a deeper flaw in America's healthcare infrastructure: Facilities that have been plundered can only be sold to others who are likely to continue the plundering, Bethany McLean writes.
2. Older Americans on the shifting job market. Some are taking blue- collar jobs, while others are navigating unemployment. Many told BI that ageism, technology changes, and economic shifts have affected their retirement plans.
3. The ghosted generation. College app rejections. No-show dates. Job apps sent into the void. No one has been more rejected in both their personal and professional lives than Gen Z, writes Delia Cai. It's led young people to adopt a blasé attitude in order to protect themselves — and it could turn them into a generation of incredibly risk-averse adults.
A veteran Tesla engineering manager has joined DOGE, and he's set to attend a NASA layoffs meeting.
Trump says he'll talk to Putin on Tuesday: 'We want to see if we can bring that war to an end'.
Investing tips for finding cheap stocks from David Booth, the Eugene Fama pupil who built a $777B firm.
Everything we know about Elon Musk's 'more affordable' Tesla.
Shopify has acquired Vantage Discovery, an AI search company founded by former Pinterest engineering leaders.
At HumanX, a new conference focused on AI, people wanted human connections (and to pet dogs).
Dealmaking slumps over Trump's tariff turmoil. 'It's almost as bad as Covid.'
The 10 housing markets with the highest turnover, where homes are likely to go on sale faster.
Nvidia GTC AI conference begins in San Jose, California.
It's St. Patrick's Day. Don't forget to wear green.
The Business Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York (on parental leave). Hallam Bullock, senior editor, in London. Grace Lett, editor, in Chicago. Amanda Yen, associate editor, in New York. Lisa Ryan, executive editor, in New York. Ella Hopkins, associate editor, in London. Elizabeth Casolo, fellow, in Chicago.
Read the original article on Business Insider

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I tried 2 ways of investing in bitcoin. One thrived and one failed miserably, teaching me a valuable lesson.
I tried 2 ways of investing in bitcoin. One thrived and one failed miserably, teaching me a valuable lesson.

Business Insider

time21 minutes ago

  • Business Insider

I tried 2 ways of investing in bitcoin. One thrived and one failed miserably, teaching me a valuable lesson.

Back in December of 2024, I decided to hop aboard the bitcoin train and add some crypto exposure to my portfolio. Markets were flush off of the recent Trump victory, there were whispers of a national bitcoin reserve, and bitcoin had recently broken the $100,000 threshold for the first time. The cryptocurrency had gone mainstream enough for late adopters like myself to deem it investable. For my first foray into bitcoin, I purchased a share of Blackrock 's iShares Bitcoin Trust Trust (IBIT). I later added a share of Semler Scientific (SMLR), a healthcare technology company that holds bitcoin on its balance sheet. I wanted to try multiple methods of investing in bitcoin. In hindsight, I realize I committed the classic retail investor impulse: buying in because of FOMO. Sure, positive investor sentiment led to gains in bitcoin, as well as the ETF I bought that was designed to track the crypto. But my stock purchase proved ill-timed. Almost six months later, bitcoin has crossed new all-time-highs, and I have mixed feelings on my investment. Bitcoin ETFs are a beginner-friendly way to get exposure I opted to buy IBIT instead of actual spot bitcoin because it was a more accessible way to get exposure. I didn't want the hassle of setting up a Coinbase account. Plus, buying a single share in an ETF was more psychologically appealing than buying a tiny fraction of a bitcoin (I did not have a spare $100,000 or the risk tolerance to buy an entire bitcoin). The performance has been encouraging. Year-to-date, IBIT is up about 14%, outpacing a 12% gain for bitcoin itself. It's done its job of tracking the crypto, and even added a little extra. And it's far outperformed the S&P 500, which is up just 2% in 2025. ETFs can experience slight tracking differences due to management fees, operational costs, and the timing of inflows and outflows. But if you want a rough proxy of bitcoin performance without actually owning the underlying asset, IBIT gets the job done. A year and a half over its launch, IBIT has gained incredible popularity, growing to over $70 billion in assets under management. Robert Cannon, a financial advisor at Experity Wealth with a specialization in alternative assets, recommends his bitcoin-curious clients to start with the ETF. "It's the easiest, cleanest representation of bitcoin, compared to some of the other strategies that are a bit esoteric," Cannon told me. The ETF wrapper has really helped bitcoin adoption take off in the last year, Rahul Sen Sharma, president and co-CEO at the custom index provider Indxx, told me. Sharma's seeing a surge in interest for bitcoin and digital asset ETFs, and he believes Trump's continued support for crypto will pave the way for more mainstream adoption. Be careful with bitcoin treasury companies Getting bitcoin exposure through other methods was indeed more esoteric — and much less profitable. I added Semler Scientific to my portfolio on January 8, 2025, and it's down more than 40% since then. There's a growing trend among companies to add bitcoin to their balance sheets, with Strategy, Tesla, and GameStop being one of the most prominent examples. The president's own Trump Media and Technology Group has recently raised $2.5 billion to buy bitcoin. Semler Scientific started adding bitcoin to its balance sheet in May of last year and now holds over 4,000 bitcoins. It sounds like a good idea in theory: holding bitcoin as a reserve asset could be a hedge against inflation and dollar weakness, and could also lead to capital appreciation as bitcoin takes off. Some companies like Strategy have had tremendous success. The firm has accumulated over half a million bitcoins, and the stock has outperformed the underlying crypto year-to-date. However, it's hard to replicate the scale and expertise of Strategy. While many of Cannon's clients often inquire about bitcoin treasury companies like Strategy, he usually recommends they stick to the basics with an ETF. There were also company-specific headwinds for Semler Scientific. The company had been under investigation from the Department of Justice for allegedly misleading claims about one of its medical devices. My takeaway from the experience is that buying a single stocks as a bitcoin proxy is probably not a good idea. When you buy into a bitcoin treasury company, you're also inheriting all of its company-specific risks. That includes everything from management decisions and financial health to legal exposure, product performance, and market sentiment around the core business. As a result, the benefits of diversification with bitcoin are watered down. If you're looking for bitcoin exposure, either buying the real thing or a spot ETF is your best bet. Maybe the strategy from here on out is to close out of my position in SMLR and do some tax-loss harvesting this year.

First direct flight from US to Greenland since 2008 lands on Trump's birthday

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First direct flight from US to Greenland since 2008 lands on Trump's birthday

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Trump curbs immigration enforcement at farms, meatpacking plants, hotels and restaurants

WASHINGTON -- The Trump administration directed immigration officers to pause arrests at farms, restaurants and hotels, after President Donald Trump expressed alarm about the impact of aggressive enforcement, an official said Saturday. The move follows weeks of increased enforcement since Stephen Miller, White House deputy chief of staff and main architect of Trump's immigration policies, said U.S. Immigration and Customs Enforcement officers would target at least 3,000 arrests a day, up from about 650 a day during the first five months of Trump's second term. Tatum King, an official with ICE's Homeland Security Investigations unit, wrote regional leaders on Thursday to halt investigations of the agricultural industry, including meatpackers, restaurants and hotels, according to The New York Times. A U.S. official who was not authorized to comment publicly and spoke on condition of anonymity confirmed to The Associated Press the contents of the directive. The Homeland Security Department did not dispute it. 'We will follow the President's direction and continue to work to get the worst of the worst criminal illegal aliens off of America's streets,' Tricia McLaughlin, a Homeland Security spokesperson, said when asked to confirm the directive. The shift suggests Trump's promise of mass deportations has limits if it threatens industries that rely on workers in the country illegally. Trump posted on his Truth Social site Thursday that he disapproved of how farmers and hotels were being affected. 'Our great Farmers and people in the Hotel and Leisure business have been stating that our very aggressive policy on immigration is taking very good, long time workers away from them, with those jobs being almost impossible to replace,' he wrote. 'In many cases the Criminals allowed into our Country by the VERY Stupid Biden Open Borders Policy are applying for those jobs. This is not good. We must protect our Farmers, but get the CRIMINALS OUT OF THE USA. Changes are coming!' While ICE's presence in Los Angeles has captured public attention and prompted Trump to deploy the California National Guard and Marines, immigration authorities have also been a growing presence at farms and factories across the country. Farm bureaus in California say raids at packinghouses and fields are threatening businesses that supply much of the country's food. Dozens of farmworkers were arrested after uniformed agents fanned out on farms northwest of Los Angeles in Ventura County, which is known for growing strawberries, lemons and avocados. Others are skipping work as fear spreads. ICE made more than 70 arrests Tuesday at a food packaging company in Omaha, Nebraska. The owner of Glenn Valley Foods said the company was enrolled in a voluntary program to verify workers' immigration status and that it was operating at 30% capacity as it scrambled to find replacements. Tom Homan, the White House border czar, has repeatedly said ICE will send officers into communities and workplaces, particularly in 'sanctuary' jurisdictions that limit the agency's access to local jails. Sanctuary cities 'will get exactly what they don't want, more officers in the communities and more officers at the work sites,' Homan said Monday on Fox News Channel. 'We can't arrest them in the jail, we'll arrest them in the community. If we can't arrest them in community, we're going to increase work site enforcement operation. We're going to flood the zone.'

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