Today in Labor History March 29, 1948: Police attacked striking members of the United Financial Employees’ Union and arrested forty-three in the “Battle of Wall Street.” This was the first and only strike in the history of the New York or American Stock Exchanges.

#workingclass #LaborHistory #union #strike #policebrutality #wallstreet #stockexchange #police

"Alvin Nguyen, an analyst at Forrester, says the fears that shook the stock market are based on sentiment and not evidence: no one has had time to evaluate the performance of an Opus 4.6-powered wealth manager.

“It’s a kneejerk reaction,” he said. “How true is it? Look, there’s plenty of leaders out there who thought, I can replace people with AI at the beginning. And a lot of people acted on that. And I think one of the things that’s being found out is that for a lot of cases, no, it hasn’t panned out.”

Aaron Rosenberg, a partner at venture capital firm Radical Ventures, – whose investments include leading AI firm Cohere – and former head of strategy and operations at Google’s AI unit DeepMind, says the impact of AI is being underestimated in the long term but adoption of groundbreaking models will not be uniform.

“History shows a repeated pattern of there being a significant lag between a technology working in a lab and it permeating the wider economy, as well as a chasm between early adopters and the majority of users,” he says."

https://www.theguardian.com/technology/2026/feb/13/ai-effects-on-business-industry-evidence-to-allay-investor-fears

#AI #GenerativeAI #Stocks #StockExchange #AIBubble #MassUnemployment

Today in Labor History February 11, 1918: Tens of thousands of unemployed Danish syndicalists stormed the Stock Exchange in Copenhagen. Only the leaders knew where the demonstration march was heading. To trick the police, they leaked that their target was the Pork Hall, which they were going to loot. Participants, armed with clubs, attacked the stockbrokers. Later, they attacked police with rubble from a construction site. Media sources compared the storm with the ravages of the Red Army and looting in the Finnish Civil War,

#workingclass #LaborHistory #anarchism #union #denmark #unemployment #police #looting #stockexchange

The NYSE has announced it will launch a new crypto trading platform to enable tokenized trading experiences with 24/7 operations, instant settlement, orders sized in dollar amounts, and stablecoin based funding. Plan is to go live later in 2026.

The platform will use technology to match buyers and sellers, combined with private blockchain networks, to provide real-time tokenized securities trading. https://www.coindesk.com/markets/2026/01/19/nyse-to-launch-24-7-blockchain-powered-tokenized-stock-and-etf-trading #NYSE #StockExchange #Trading #Crypto #Stablecoins #BlockChain #TokenizedAssets #DigitalAssets #CryptoTrading

"The stages of enshittification usually involve some sort of devil’s deal.

- In Stage 1, things are good for users: the platform is free, things are easy-to-use, and thus it’s really simple for you and your friends to adopt and become dependent on it.

- In Stage 2, things become bad for consumers, but good for business customers: the platform begins forcing users to do “profitable” things — like show them more adverts by making search results worse — all while making it difficult to migrate to another one, either through locking in your data or the tacit knowledge that moving platforms is hard, and your friends are usually in one place. Businesses sink tons of money into the platform, knowing that users are unlikely to leave, and make good money buying ads against a populace that increasingly stays because it has to as there are no other options.

- In Stage 3, things become bad for consumers and businesses, but good for shareholders: the platforms begin to deteriorate to the point that usability is pushed to the brink, and businesses — who are now dependent on the platform because monopolies have pushed out every alternative platform to advertise or reach consumers — begin to see their product crumble, all in favour of shareholder capital, which only cares about stock value, net income and buybacks.

We have now entered Enshittification Stage 4, where businesses turn on shareholders.

Analysts and investors have become trapped in the same kind of loathsome platform play as consumers and businesses, and face exactly the same kinds of punishment through the devaluation of the stock itself. Where platforms have prioritized profits over the health and happiness of users or business customers, they are now prioritizing stock value over literally anything, and have — through the (...) growth of tech stocks (...) — created a placated and thoroughly whipped investor and analyst sect..."

https://www.wheresyoured.at/the-enshittifinancial-crisis/

#Enshittification #FinancialCrisis #Stocks #StockExchange