Former Russian banking tycoon Oleg Tinkov says a single Instagram post condemning the war in Ukraine cost him nearly $9 billion, after he was forced to sell his stake in his bank for a fraction of its real value. He described the episode as a “hostage” situation that shows how dissenting billionaires are brought to heel in Vladimir Putin’s Russia. Tinkov, the founder of Tinkoff Bank, was once celebrated as one of Russia’s wealthiest bankers. That status changed dramatically in April 2022, when he used Instagram to denounce the war as “insane” and to criticize Russia’s military as poorly prepared and riddled with corruption. As CNBC reported at the time, Tinkov claimed 90% of Russians opposed the war, and the remaining 10% were “morons.” He urged an immediate and “face-saving” end to the war. Tinkov told the BBC recently that within a day of that post, senior executives at his bank received a call from officials linked to the Kremlin, delivering a stark ultimatum. Either Tinkov’s stake would be sold and his name scrubbed from the brand, or the bank—then one of Russia’s largest lenders—would be nationalized. Read more: https://trib.al/pI3V13X

“It seems very likely to a large number of people that we will get massive unemployment caused by AI,” Geoffrey Hinton, the British computer scientist widely known as the “Godfather of AI,” said.⁠ ⁠ “And if you ask where are these guys going to get the roughly trillion dollars they’re investing in data centers and chips… one of the main sources of money is going to be by selling people AI that will do the work of workers much cheaper. And so these guys are really betting on AI replacing a lot of workers.”⁠ ⁠ Hinton has grown increasingly vocal about what he sees as Big Tech’s misplaced priorities.⁠ Read more: https://trib.al/3oHFvDa