Cronyism
Search documents
X @Nick Szabo
Nick Szabo· 2025-10-08 01:19
RT Matt Forney (@realmattforney)NEW: a former Kohl's employee details how he quit his job in protest of his Indian hiring manager's discriminatory, anti-American hiring practices.According to the whistleblower, his IIT-educated Indian hiring manager had an explicit policy of only hiring fellow Indians on H-1B visas. The whistleblower was the sole non-Indian on his team and was largely there to "prove" that the hiring manager was not engaging in illegal hiring discrimination.When the whistleblower brought up ...
Palantir cofounder on the US taking a stake in Intel: 'The whole thing is very weird'
Business Insider· 2025-09-04 16:52
Core Viewpoint - The US government's $8.9 billion investment in Intel raises concerns about cronyism and the unusual nature of government stakes in private companies, especially outside of national emergencies [1][4]. Group 1: Government Investment - The investment is part of the US CHIPS and Science Act, which allocates $52 billion in subsidies and tax incentives to promote domestic chip production and factory construction [2]. - Intel's equity stake will be funded by $5.7 billion in grants from the US CHIPS and Science Act and $3.2 billion from the Secure Enclave program aimed at expanding US semiconductor manufacturing [3]. Group 2: Precedent and Future Implications - It is uncommon for the US government to acquire stakes in private companies, typically occurring during crises like the 2008 financial crisis, suggesting this investment could set a new precedent [4]. - National Economic Council Director indicated that more investments in other companies may follow, comparing the Intel stake to a sovereign wealth fund model [5]. Group 3: Public Benefit Consideration - Concerns were raised about the necessity of the investment unless it serves a broader public benefit, such as enhancing national security [6].