The effects of the fatal bridge collapse in Baltimore will be felt for months

The effects of the fatal bridge collapse in Baltimore will be felt for months
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An illuminated bridge reflecting over a body of water in Chengdu, China.
Chengdu, China.

Welcome back to our Sunday edition, a roundup of some of our top stories.

Are you an early riser? I’m not, so I was impressed when a colleague set out to replicate Apple CEO Tim Cook’s daily routine, setting an alarm for 4.45am. She finished the week exhausted and with a budding caffeine addiction.

On the agenda today:

But first: The effects of the fatal bridge collapse in Baltimore will be felt for months. Here’s a rundown in under 200 words.

Enjoying our minute-long recaps of major news events? Let me know here.

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In an aerial view, the cargo ship Dali sits in the water after running into and collapsing the Francis Scott Key Bridge on March 26, 2024 in Baltimore, Maryland.
The Francis Scott Key Bridge collapsed on Tuesday.

This week’s dispatch

A disaster in Baltimore

At 1:28 a.m. ET Tuesday, the 984-ft long container ship Dali crashed into the Francis Scott Key Bridge in Baltimore, bringing it down.

The ship had lost power and called in “mayday.” On-site officers can be heard holding traffic from the bridge in dispatch audio. The impact was captured on a livestream. A small construction crew had been fixing potholes on the bridge itself. Six are presumed dead.

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The Port of Baltimore is now closed “until further notice,” halting some $15 million in daily economic activity. Cruise ships have been rerouted. The auto industry is facing supply chain concerns, with the port the top US handler for auto imports and exports.

There are environmental concerns. The ship carried 764 tons of hazardous material, and some containers have been breached.

And there’s a bill to pay. The ship’s owner is expected to invoke an 1851 law to limit its liabilities. A historic market in London will face billions in claims.

The crash was a tragic accident. It’s also what happens when 95,000 tons of modern cargo ship meets America’s aging infrastructure. And it’s a reminder of the precarity of just-in-time supply chains and global trade.

Sam Altman
Sam Altman will be keen avoid Facebook’s election mistakes.

VCs are over Sam Altman

The critics are quietly coming for one of the biggest names in tech.

Few in the business world have seen their star rise as quick and as high as Sam Altman, OpenAI’s CEO. But some venture capitalists are growing tired and skeptical of what they view as self-mythologizing from Altman.

The criticism, though, mostly takes place behind the scenes, as VCs recognize the power Altman holds in the industry.

Sam Altman’s act is wearing thin on some.

An office chair with a ball and chain attached to it.

America’s retirement crisis

Older Americans are having a tough time walking away from work due to their financial situation.

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Just under 20% of Americans 65 and older were employed last year, compared to 11% in 1987, according to a Pew report. And conditions could worsen as young people struggle to save while paying off homes and student loans.

As one worker in her 70s put it: “I think I’m going to die in this job. I’m going to die in this office because I have no way to get out.”

Meet the Americans who can’t retire.

Also read:

copilot collage with open AI and microsoft ceo

Microsoft’s Copilot conundrum

Microsoft is facing a common complaint among users of its AI tool, Copilot: It doesn’t work as well as ChatGPT.

Feedback for the tool has been mixed to leaning positive, but comparisons with ChatGPT continue to pile up, according to Microsoft employees who spoke to BI.

One of the problems, according to Microsoft, is that customers aren’t using the new tools properly. That’s why the company is paying a partner to create videos to teach users how to write better prompts.

How Microsoft’s navigating Copilot complaints.

Japan’s recovery is a warning shot for China

Japan is finally climbing out of an economic hole it dug in the early 1990s due to a real-estate implosion. The country’s stock market exceeded all-time highs, and Wall Street sees more promise.

Now, China is in a similar situaJtion as Japan once was, as it stares down a property market collapse. But Japan’s recovery won’t be easy to replicate for China, which has resisted stimulus packages and faces a difficult trade market.

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Why China might struggle to replicate Japan’s turnaround.

This week’s quote:

“You should figure out how to do this.”

Mark Zuckerberg in an email to one of his employees

More of this week’s top reads:

Read the original article on Business Insider


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