Forbes Daily: A Major Jobs Revision Ahead Of Next Week’s Fed Meeting

Company Overview - Apple has unveiled its latest products, including the iPhone 17 and iPhone Air, with the iPhone 17 featuring improved camera quality and a new A19 chip, but with a price increase of $100 compared to the iPhone 16 [2] - The iPhone Air is noted to be the thinnest iPhone ever at 5.6 millimeters [2] - The new AirPods Pro will utilize AI technology for real-time conversation translation [2] Market Reaction - Despite the excitement surrounding the new product launches, Apple's stock price fell by nearly 1.5% on the day of the announcement [3] Financial Insights - Aven, a fintech lender, has raised $110 million at a valuation of $2.2 billion, significantly up from $1 billion a year ago, indicating strong growth in the fintech sector [5] - Elon Musk has topped the Forbes 400 list for the fourth consecutive year, with a net worth of approximately $428 billion, reflecting the increasing value of his assets [6] Industry Trends - The U.S. job market has seen downward revisions, with nearly a million fewer jobs added over the past year, which may influence Federal Reserve policy decisions [4] - The U.S. now has a record 900 billionaires, highlighting the increasing wealth concentration in the country [7] Technological Developments - SpaceX's acquisition of spectrum from EchoStar for $17 billion aims to enable full 5G service from space, contingent on the successful launch of more powerful satellites [8] - OpenAI is preparing for a significant employee share sale, with its cofounder selling a $49 million estate in Hawaii [17][18]