Mark Cuban is <a href="https://www.benzinga.com/personal-finance/25/03/44476775/mark-cuban-we-all-want-to-eliminate-corruption-but-what-corruption-do-social-security-office-closures-actually-solve">calling out the federal government</a>—and he's not holding back.



In a <a href="https://bsky.app/profile/mcuban.bsky.social/post/3lkqq3pgofk2n">blunt post on BlueSky</a>, the billionaire investor said what many seniors may soon be thinking:



"The administration is removing phone support for [Social] Security recipients. Making it more difficult for seniors to get their checks. It's a back door way to cut SS benefits. Horrific."



Cuban's frustration comes in response to a sweeping overhaul of Social Security operations by Elon Musk and the Department for Government Efficiency. The agency says it's <a href="https://www.benzinga.com/personal-finance/25/03/44484549/mark-cuban-on-doge-government-cuts-this-isnt-a-corporate-turnaround-this-is-the-united-states-of-america">cracking down on fraud</a>, citing claims that tens of millions of deceased individuals are still receiving payments.



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<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>



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But Cuban, along with a growing number of critics, says the so-called "efficiency" push is <a href="https://www.benzinga.com/personal-finance/25/02/43592816/social-security-beneficiaries-have-every-reason-to-be-alarmed-by-musks-access-to-u-s-department-of-treasury-payment-system">less about fraud prevention</a> and more about slashing support while pretending it's reform.



<h2 class="wp-block-heading">No Phone, No Office, No Check?</h2>



Among the most controversial moves: eliminating phone support and shutting down dozens of Social Security offices. In short, if seniors want to access their benefits, they'll need to go online.



That sounds fine—until you consider the reality: many elderly Americans don't have reliable internet access, don't use smartphones, and wouldn't know where to begin with a benefits portal. Some don't even have transportation to reach the nearest Social Security office—especially now that so many are being shut down.



Trending: BlackRock is calling 2025 the year of alternative assets. <a href="https://www.benzinga.com/money/masterworks">One firm from NYC has quietly built a group of 60,000+ investors who have all joined in on an alt asset class previously exclusive to billionaires like Bezos and Gates.</a>



What happens to a 78-year-old who lives alone and can't get to the next county just to ask a question in person? Or someone who's never sent an email being asked to upload income documents online just to keep their check?



"Make Grandma and Grandpa finally get online to confirm their payments," Cuban wrote sarcastically <a href="https://x.com/mcuban/status/1902418507901628602">in a post on X</a> last week, expressing concern over the topic. "Gotta give Doge credit for being the first to cut entitlements," he said.&nbsp;



<h2 class="wp-block-heading">A Digital Wall Around Benefits?</h2>



Supporters of the changes say digitizing the system is long overdue. DOGE claims this is about eliminating "waste" and stopping fraud, but for those on the outside looking in, it feels like a digital wall around one of the country's most important safety nets.



See Also: Have $200K saved?<a href="https://www.benzinga.com/money/have-200k-saved-heres-how-to-turn-it-into-lasting-wealth"> Here's how to turn it into lasting wealth</a>



Cuban's warning taps into the growing fear that this isn't just red tape—it's intentional.



"What an amazing back door way to cut payments!" he posted. "Gonna be some upset seniors at town halls!"



This isn't just about a phone line or an office location. It's about access. It's about whether the people who paid into the system their entire lives can still get what they were promised—without being forced to navigate apps, websites, or lengthy bus rides just to stay afloat.



Whether DOGE sees this as progress or not, one thing's clear: Cuban isn't buying it. And neither will the <a href="https://www.benzinga.com/25/03/44153127/will-social-securitys-restructuring-impact-your-monthly-benefits-heres-what-to-know">millions of seniors</a> who suddenly find themselves locked out of the system—digitally, physically, and financially.



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<li><a href="https://www.benzinga.com/money/mark-cubans-advice-for-lotto-winners">Many are surprised by Mark Cuban's advice for lotto winners: Cash or annuity?</a></li>



<li>Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a></li>
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Personal Finance

Mark Cuban Says Closing Social Security Offices and Ending Phone Support Is Just A 'Back Door Way' to Cut Benefits—Calls It 'Horrific' for Seniors

On Wednesday, Chamath Palihapitiya, a well-known investor and former Facebook executive, shared a bleak outlook for the role of engineers in the near future. 



What Happened: The venture capitalist stated, &#8220;Unfortunate but accurate in response to a post on X, which stated, &#8216;I No longer think you should learn to code.&#8221; The engineer's role will be supervisory, at best, within 18 months. Building tools for them will be roadkill for the model makers product roadmap.&#8221; 



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Unfortunate but accurate. The engineer's role will be supervisory, at best, within 18months. Building tools for them will be roadkill for the model makers product roadmap. <a href="https://t.co/B0AoVjDdwN">https://t.co/B0AoVjDdwN</a>&mdash; Chamath Palihapitiya (@chamath) <a href="https://twitter.com/chamath/status/1905270472947704141?ref_src=twsrc%5Etfw">March 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



In the same thread, Palihapitiya advised parents to encourage their children to focus on fields like philosophy, psychology, history, physics, and English writing, hinting at the changing landscape of valuable skills due to AI&#8217;s rise.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Philosophy, psychology, history, physics and English writing&mdash; Chamath Palihapitiya (@chamath) <a href="https://twitter.com/chamath/status/1905286323977720285?ref_src=twsrc%5Etfw">March 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



An X user noted that &#8220;coherently explaining&#8221; business rules poses the most significant challenge in software design, a point with which Palihapitiya wholeheartedly agreed.



See Also: <a href="https://www.benzinga.com/media/25/03/44507360/alibaba-chairman-questions-future-of-humanoid-robots-after-nvidia-ceo-jensen-huang-predicts-factory-adoption-within-5-years-dont-need-machines-to-replace-humans">Alibaba Chairman Questions Future Of Humanoid Robots After Nvidia CEO Jensen Huang Predicts Factory Adoption Within 5 Years: &#8216;Don&#8217;t Need Machines To Replace Humans&#8217;</a>



Why It Matters: Palihapitiya&#8217;s comments come amidst a broader discussion on the future of work in an AI-dominated world. His <a href="https://www.benzinga.com/news/24/01/36629811/billionaire-investor-chamath-palihapitiyas-new-ai-venture-could-kill-software-companies-mark-cuban-s">new AI venture</a> has been highlighted as a potential game-changer that could disrupt the software market.



Moreover, his prediction aligns with sentiments from other tech leaders, including Mark Zuckerberg of Meta, who recently suggested that AI could soon <a href="https://www.benzinga.com/startups/25/01/43196923/ai-can-write-the-code-zuckerberg-says-metas-midlevel-engineers-earning-six-figures-may-soon-be-replaced">replace midlevel software engineers</a>.



AI prompt engineers, who train chatbots like ChatGPT, are in high demand, with salaries <a href="https://www.benzinga.com/news/23/05/32323519/you-dont-need-coding-experience-or-a-tech-background-to-land-this-ai-job-paying-well-over-6-figures">reaching up to $335,000</a>. The role does not require a tech background, but strong logical thinking and basic computer skills are beneficial. As AI adoption accelerates, companies are prioritizing skills over experience in hiring, according to a previous report.



Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.



Photo by Featureflash Photo Agency on Shutterstock



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<li><a href="https://www.benzinga.com/news/25/03/44521302/steve-jobs-warned-34-years-ago-about-america-being-hollowed-out-by-foreign-manufacturing-a-concern-t">Steve Jobs Warned 34 Years Ago About America Being &#8216;Hollowed Out&#8217; By Foreign Manufacturing — A Concern Trump Now Echoes</a></li>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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Chamath Palihapitiya Agrees You Should No Longer Learn To Code, Says Parents Should Advise Their Kids To Focus On These Subjects Instead

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas" target="_blank" rel="noreferrer noopener"> many investors' favorite stocks</a> over the last week — here's a look at some of our top stories.



U.S. stock markets declined this week amid escalating trade tensions and inflation concerns. The S&amp;P 500 fell 2%, the Dow Jones Industrial Average dropped 1.7%, and the Nasdaq Composite decreased by 2.7%, marking one of the worst weeks in recent years.



President Donald Trump's announcement of a 25% tariff on imported automobiles and parts contributed to market volatility. Automotive stocks were notably impacted; General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) tumbled over 7%, and Ford (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) slid 3.9%. Conversely, electric vehicle manufacturers like Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) edged up 0.4%, as their U.S.-based production is less affected by the tariffs.



Beyond the auto sector, economic indicators added to investor unease. The Federal Reserve's preferred inflation gauge, the core Personal Consumption Expenditures (PCE) price index, rose 0.4% in February, bringing the annual rate to 2.8%, above the Fed's 2% target. Additionally, consumer spending data fell short of expectations, exacerbating fears of economic slowdown amid President Trump's tariff policies.



Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.







The Bulls



<a href="https://www.benzinga.com/trading-ideas/long-ideas/25/03/44512999/chevron-hits-52-week-high-warren-buffetts-5th-largest-holding-is-on-fire-but-should-you-buy">"Chevron Hits 52-Week High: Warren Buffett's 5th Largest Holding Is On Fire — But Should You Buy?"</a>, by Surbhi Jain, reports that Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) hit a 52-week high as rising oil prices and Warren Buffett's ongoing support strengthened investor confidence.



<a href="https://www.benzinga.com/media/25/03/44515782/microsoft-halts-expansion-plans-yet-analysts-still-rank-it-among-top-investment-picks">"Microsoft Halts Expansion Plans, Yet Analysts Still Rank It Among Top Investment Picks"</a>, by Anusuya Lahiri, explains why analysts remain bullish on Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) despite the tech giant pausing major data center expansions amid concerns of AI overcapacity.



<a href="https://www.benzinga.com/analyst-ratings/upgrades/25/03/44477982/carvana-analyst-says-its-time-to-buy-the-potential-amazon-of-auto-retail">"Carvana Analyst Says It's Time To Buy The Potential ‘Amazon Of Auto Retail'"</a>, by Adam Eckert, reports that Morgan Stanley analyst Adam Jonas upgraded Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) from Equal-Weight to Overweight, raising the price target from $260 to $280, citing the company's potential to dominate auto retail akin to Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).



For additional bullish calls of the past week, check out the following:



<a href="https://www.benzinga.com/news/earnings/25/03/44504468/concentrix-shares-pop-on-strong-q1-results-raised-revenue-guidance">Concentrix Shares Pop On Strong Q1 Results, Raised Revenue Guidance</a>



<a href="https://www.benzinga.com/trading-ideas/technicals/25/03/44517249/stock-of-the-day-will-the-move-higher-in-sysco-continue">Stock Of The Day – Will The Move Higher In Sysco Continue?</a>



<a href="https://www.benzinga.com/trading-ideas/technicals/25/03/44460563/tesla-jumps-10-on-china-fsd-optimism-tariff-easing-hopes">Tesla Jumps 10% On China FSD Optimism, Tariff Easing Hopes</a>







The Bears



<a href="https://www.benzinga.com/general/biotech/25/03/44500068/novo-nordisk-stock-sinks-to-52-week-lows-weight-loss-boom-losing-steam">"Novo Nordisk Stock Sinks To 52-Week Lows: Weight Loss Boom Losing Steam?"</a>, by Surbhi Jain, reports that Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) shares have plunged 44% year-over-year, hitting a 52-week low amid investor concerns over competition from Eli Lilly and Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) and the company's recent $2 billion acquisition of rights to a Chinese obesity drug.



<a href="https://www.benzinga.com/trading-ideas/technicals/25/03/44513787/nike-stock-hits-52-week-lows-is-the-sneaker-king-losing-its-step">"Nike Stock Hits 52-Week Lows: Is The Sneaker King Losing Its Step?"</a>, by Surbhi Jain, shows Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) tumbling to a 52-week low as slowing sales in China and rising competition challenge the global sneaker giant's dominance.



<a href="https://www.benzinga.com/25/03/44475805/homebuilders-kb-home-lennar-cut-prices-as-homebuyer-demand-has-slowed-materially">"Homebuilders KB Home, Lennar Cut Prices As Homebuyer Demand Has Slowed Materially"</a>, by Erica Kollmann, reports that KB Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBH#NYSE">KBH</a>) and Lennar Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) are reducing home prices and offering incentives as elevated mortgage rates have significantly dampened buyer demand.



For more bearish takes, be sure to see these posts:



<a href="https://www.benzinga.com/25/03/44517020/ev-maker-mullen-automotive-to-further-cut-costs-and-slash-workforce">EV Maker Mullen Automotive To Further Cut Costs And Slash Workforce: Details</a>



<a href="https://www.benzinga.com/25/03/44465410/snow-white-disappoints-at-box-office-will-remake-hurt-disneys-marvel-magic-in-2025">‘Snow White' Disappoints At Box Office: Will Remake Hurt Disney's Marvel Magic In 2025?</a>



<a href="https://www.benzinga.com/news/offerings/25/03/44511664/why-is-teslas-chinese-rival-nio-stock-diving-today">Why Is Tesla's Chinese Rival NIO Stock Diving Today? (UPDATED)</a>







Keep up with all the latest breaking news and trading ideas by following <a href="https://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener">Benzinga</a><a href="http://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener"> on X</a>.



Image created using artificial intelligence via Midjourney.

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TSLA

Benzinga Bulls And Bears: Chevron, Microsoft, Nike — And Tariffs Have Automotive Sector Reeling

Risk sentiment deteriorated sharply in the second half of the week after President Donald Trump announced sweeping tariffs on imported automobiles, compounding concerns <a href="https://www.benzinga.com/markets/equities/25/03/44506717/trumps-25-auto-tariff-raises-will-cast-shadow-on-interest-rates-says-economist-tesla-investor-gary-black-says-president-found-further-ways-to-push-the-economy-into-recession-today">about rising inflationary pressures.</a>



On Wednesday evening, the White House revealed plans to impose a <a href="https://www.benzinga.com/government/regulations/25/03/44517885/trump-slaps-25-tariffs-on-autos-what-it-means-for-your-next-car-purchase">25% tariff on auto imports,</a> in addition to a set of reciprocal tariffs expected to be unveiled next week. The administration cited national security risks as the justification for the measures, which may also extend to auto parts by May.



The policy shift sent shockwaves across the automotive industry. Michigan-based giants General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) posted steep losses in the wake of the announcement. In contrast, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) — both of which manufacture all their vehicles domestically — proved more resilient.



According to Goldman Sachs estimates, the tariffs could push vehicle prices up by $5,000 to $15,000, adding significant cost <a href="https://www.benzinga.com/25/03/44515578/trumps-25-tariff-set-to-hike-imported-car-prices-up-to-15000-higher-goldman-sachs-warns">pressure on American consumers.</a>



The market impact didn't stop at autos. Broader sectors were also dragged lower amid fears Trump could escalate trade tensions next week with key commercial partners, especially as the U.S. trade deficit <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44513963/us-gdp-growth-upwardly-revised-in-q4-trade-deficit-slightly-narrows-as-auto-exports-soar-in-february">remains near record highs.</a>



Tariff tensions are now bleeding into inflation data. The Fed's preferred inflation gauge — the core Personal Consumption Expenditures price index — rose 2.8% year-over-year in February, surpassing expectations of 2.7%. The unexpected acceleration further complicates the Federal Reserve's case for near-term rate cuts.



But the worst surprise came Friday. The University of Michigan's consumer survey revised inflation expectations even higher. Americans now expect inflation to average 4.1% over the next five years, up 0.2 percentage points from earlier estimates and the highest <a href="https://www.benzinga.com/25/03/44537936/consumer-inflation-expectations-skyrocket-in-march-hit-highest-levels-in-32-years">level since February 1993.</a>



Overall consumer sentiment plunged to its lowest level since November 2022, as households grow increasingly uneasy about the labor market outlook.



Amid the prevailing uncertainty, gold reaffirmed its status as a safe-haven asset, climbing to new record highs by week's end.



Meanwhile, the <a href="https://www.benzinga.com/government/regulations/25/03/44524354/us-debt-to-explode-past-world-war-ii-highs-threatens-growth-for-decades-cbo-says">Congressional Budget Office delivered</a> another wake-up call: there&#8217;s no end in sight to America's growing debt burden. The national debt is projected to surpass its World War II peak by 2029, and soar to 156% of GDP by 2055 — with no signs of slowing thereafter.



Read now: 



<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44542821/inflation-will-accelerate-in-coming-months-if-april-2-tariffs-take-effect-economist-warns">&#8216;Inflation Will Accelerate In Coming Months&#8217; If April 2 Tariffs Take Effect, Economist Warns</a></li>
</ul>



Photo: janews via Shutterstock

Economics

RIVN

Trump's 25% Auto Tariffs Rattle Wall Street, Fed's Favorite Inflation Gauge Surges, Consumer Price Worries Rocket: This Week In Markets

On Friday, March 28, 2025, Cathie Wood-led Ark Invest made substantial trades involving several prominent companies, including Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), Roblox Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>), and CoreWeave Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>)



The Robinhood Trade:&nbsp;Ark Invest&#8217;s Ark Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) purchased a substantial 249,423 shares of&nbsp;Robinhood.



Based on the closing price of $41.92 on the day of the trade, the value of this purchase is estimated to be around $10.45 million.



The Roblox Trade:&nbsp;On the same day, Ark Invest&#8217;s ARKK and ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) sold a combined total of 350,177 shares of&nbsp;Roblox Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>).



Given the closing price of $59.07, the value of the sold shares is approximately $20.7 million.



The CoreWeave Trade: Ark Invest&#8217;s ARKW ETF also bought a significant 411,875 shares of Nvidia Corp.-backed CoreWeave Inc.



Given the closing price of $59.07, the value of the sold shares is approximately $16.47 million.



Other Key Trades:



<ul>
<li>Ark Invest&#8217;s ARKW ETF sold 224,052 shares of Genius Sports Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GENI#NYSE">GENI</a>).</li>



<li>ARKW also sold 50,666 shares of Roku Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>).</li>



<li>ARKW sold 6,625 shares of Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>).</li>



<li>Ark Invest&#8217;s ARK Genomic Revolution ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#BATS">ARKG</a>) sold 46,940 shares of Repare Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPTX#NASDAQ">RPTX</a>).</li>
</ul>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/03/44549941/elon-musk-to-visit-cia-for-government-efficiency-talks-after-department-of-defense">Elon Musk To Visit CIA For Government Efficiency Talks, After Department Of Defense</a></li>
</ul>



Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: Ark Invest

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ARKK

ARKW

CRWV

GENI

HOOD

RBLX

ROKU

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Cathie Wood's Ark Invest Loads Up On Robinhood, Nvidia-Backed CoreWeave: Offloads Spotify, Roku

Vice President JD Vance&nbsp;has raised concerns over Denmark&#8217;s ability to protect Greenland, suggesting that the U.S. could provide better security for the region.



What Happened: Vance made these remarks during a visit to the&nbsp;U.S. military base at Pituffik&nbsp;in Greenland, emphasizing the strategic importance of the Arctic territory, according to a Reuters report.



"Denmark has not kept pace and devoted the resources necessary to keep this base, to keep our troops, and in my view, to keep the people of Greenland safe from a lot of very aggressive incursions from Russia, from China and other nations," Vance said.



Vance stated that while there are no immediate plans to increase the U.S. military presence in Greenland, the U.S. intends to invest in resources like naval ships.



He stressed the importance of respecting Greenland&#8217;s sovereignty but suggested that a partnership with the U.S. could be beneficial.



"We can make them much more secure. We could do a lot more protection. And I think they'd fare a lot better economically as well."



See Also: <a href="https://www.benzinga.com/25/03/44508234/ontario-premier-doug-ford-supports-retaliatory-tariffs-amid-us-auto-levy-inflict-as-much-pain-as-possible">Ontario Premier Doug Ford Supports Retaliatory Tariffs Amid US Auto Levy: &#8216;Inflict As Much Pain As Possible&#8217;</a>



Vance accused Denmark of not allocating sufficient resources to protect Greenland from potential threats posed by countries like Russia and China. However, he did not provide specific details on these threats.



His comments were met with criticism from the Danish prime minister, who labeled them as unfair.



Danish&nbsp;Foreign Minister Lars Lokke Rasmussen&nbsp;acknowledged some shortcomings but noted that the U.S. had reduced its military presence in Greenland since the Cold War.



Why It Matters: The strategic importance of Greenland has been a topic of international discussion, particularly in light of&nbsp;<a href="https://www.benzinga.com/25/03/44532485/putin-alarms-about-trumps-serious-plans-to-annex-greenland-these-plans-have-long-standing-historical-roots">President Trump&#8217;s interest</a>&nbsp;in acquiring the territory.



Russian President Vladimir Putin <a href="https://www.benzinga.com/25/03/44532485/putin-alarms-about-trumps-serious-plans-to-annex-greenland-these-plans-have-long-standing-historical-roots">has voiced concerns</a> over the U.S.&#8217;s intentions, suggesting that the Arctic could become a potential conflict zone. This underscores the geopolitical significance of Greenland in global security dynamics.



Furthermore,&nbsp;<a href="https://www.benzinga.com/news/25/01/43160471/greenland-mining-minister-warns-trumps-rhetoric-could-be-devastating-for-investors">Greenland&#8217;s mining sector</a>&nbsp;has also been affected by Trump&#8217;s rhetoric, with investors expressing concerns over the stability of the region. The uncertainty surrounding Greenland&#8217;s future has raised red flags for potential investors, impacting its economic prospects.



Trump&#8217;s statements about not ruling out military force to acquire Greenland have further fueled tensions, as highlighted in a&nbsp;<a href="https://www.benzinga.com/news/global/25/01/42864556/trump-does-not-rule-out-military-force-to-acquire-panama-canal-greenland-we-need-them-for-economic-security">press conference</a>&nbsp;earlier this year.



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Photo courtesy: Shutterstock

Politics

Global

JD Vance Slams Denmark For Not Keeping Greenland Safe From Russian, Chinese Incursions: 'We Can Make Them Much More Secure'

Elon Musk, a key advisor to President Donald Trump, is set to meet with CIA Director John Ratcliffe on Monday. The meeting will focus on enhancing government efficiency.



What Happened:&nbsp;The visit comes amid significant workforce reductions within the federal government,&nbsp;overseen by Musk and his&nbsp;Department of Government Efficiency. The CIA has recently terminated several new hires as part of these reductions, according to a Reuters report.



Earlier, Musk&nbsp;visited the Department of Defense,&nbsp;where his companies hold numerous contracts. During this visit, he met with Defense Secretary&nbsp;Pete Hegseth.



A previous report said that Musk would receive a briefing&nbsp;on secret war plans for&nbsp;China, a claim that both Trump and Musk have refuted.



Musk labeled the report as &#8220;pure propaganda&#8221; and called for legal action against those responsible for the leaks.



See Also: <a href="https://www.benzinga.com/25/03/44508234/ontario-premier-doug-ford-supports-retaliatory-tariffs-amid-us-auto-levy-inflict-as-much-pain-as-possible">Ontario Premier Doug Ford Supports Retaliatory Tariffs Amid US Auto Levy: &#8216;Inflict As Much Pain As Possible&#8217;</a>



Why It Matters: Musk&#8217;s role in the federal workforce reduction aligns with <a href="https://www.benzinga.com/markets/equities/25/03/44533305/elon-musk-says-were-going-to-go-after-people-behind-tesla-vandalism-the-presidents-made-it-clear">his previous statements</a> about targeting those spreading misinformation about Tesla Inc. He emphasized that the real villains are those pushing propaganda against the company.



Meanwhile,&nbsp;President Trump&nbsp;has been involved in other significant appointments, such as nominating&nbsp;<a href="https://www.benzinga.com/politics/25/03/44482110/musks-doge-vs-ssa-trumps-nominee-frank-bisignano-tackles-social-security-crisis-amid-privatization-debate">Frank Bisignano</a>&nbsp;to lead the Social Security Administration.



Bisignano, known for his crisis management skills, faced scrutiny over potential privatization during a Senate hearing.



Additionally, <a href="https://www.benzinga.com/news/25/03/44448709/elon-musk-warns-pentagon-leakers-following-expose-on-alleged-secret-china-war-briefing-they-will-be-found">Musk&#8217;s recent warning</a> to Pentagon leakers, following an exposé on alleged secret China war briefings, underscores the tension surrounding national security and information leaks. Both Trump and Pentagon officials have denied any discussions about China, dismissing media reports as falsehoods.



In a related development,&nbsp;Mark Cuban&nbsp;<a href="https://www.benzinga.com/tech/25/03/44433297/mark-cuban-says-he-supports-cutting-government-costs-but-hits-out-at-doge-i-would-have-a-plan-ready-fire-aim-is-not-a-plan">has expressed support</a> for reducing government costs but criticized Musk&#8217;s drastic cuts under the Department of Government Efficiency. Cuban&#8217;s stance highlights the ongoing debate over the balance between efficiency and maintaining essential government functions.



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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: Shutterstock

Elon Musk To Visit CIA For Government Efficiency Talks, After Department Of Defense

President Donald Trump&nbsp;and&nbsp;Canadian Prime Minister Mark Carney&nbsp;engaged in a productive dialogue on Friday. The conversation marked the first interaction between the two leaders since Carney assumed leadership of Canada&#8217;s&nbsp;ruling Liberals on March 9.



What Happened: Trump expressed optimism about future collaborations, stating on Truth Social that they would meet after Canada&#8217;s upcoming election to discuss politics, business, and other areas.



&#8220;It was an extremely productive call, we agree on many things, and will be meeting immediately after Canada&#8217;s upcoming Election to work on elements of Politics, Business, and all other factors,&#8221; Trump wrote on his social media platform Truth Social.



Despite the positive tone, Carney announced Ottawa&#8217;s plan to impose retaliatory tariffs next week.



Carney, addressing a press conference in Montreal, highlighted the cordial nature of the call and emphasized that Canada&#8217;s sovereignty was respected by Trump.



See Also: <a href="https://www.benzinga.com/25/03/44508234/ontario-premier-doug-ford-supports-retaliatory-tariffs-amid-us-auto-levy-inflict-as-much-pain-as-possible">Ontario Premier Doug Ford Supports Retaliatory Tariffs Amid US Auto Levy: &#8216;Inflict As Much Pain As Possible&#8217;</a>



He reiterated Canada&#8217;s intention to implement counter tariffs to safeguard its economy and workers following the U.S.&#8217;s planned trade actions on April 2, according to a report by Reuters.



Relations between the U.S. and Canada have been strained since Trump took office, but both leaders agreed to initiate comprehensive negotiations on&nbsp;a new economic and security&nbsp;relationship post-election.



Carney also mentioned the possibility of including Mexico in these discussions, aligning with&nbsp;the United States-Mexico-Canada free trade&nbsp;deal.



He further outlined plans for&nbsp;a C$5 billion trade diversification&nbsp;fund to reduce Canada&#8217;s economic reliance on the U.S.



Why It Matters: The backdrop to this conversation includes a series of escalating trade tensions between the U.S. and Canada.



Recently,&nbsp;<a href="https://www.benzinga.com/25/03/44506345/trump-imposes-25-tariffs-on-auto-imports-says-this-will-continue-to-spur-growth-canada-eu-slam-the-move">Trump imposed a 25% tariff on auto imports</a>, a move criticized by both Canada and the EU. This tariff, effective April 3, aims to boost domestic production but could financially strain automakers reliant on global supply chains.



In response,&nbsp;<a href="https://www.benzinga.com/markets/25/03/44488018/canada-bars-tesla-from-ev-rebates-programs-in-response-to-illegitimate-and-illegal-us-tariffs">Canada suspended</a> Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) from its EV rebate programs, citing the tariffs as illegitimate and illegal. This suspension will remain until each rebate claim is thoroughly verified.



Additionally,&nbsp;<a href="https://www.benzinga.com/25/03/44451332/canadas-pm-mark-carney-calls-for-snap-election-amid-tense-us-relations-asks-for-strong-positive-mandate-to-deal-with-president-trump">Carney called for a snap election</a>&nbsp;on April 28, seeking a strong mandate to address these trade challenges. The election announcement followed his recent assumption of office after Justin Trudeau&#8217;s resignation.



Moreover, <a href="https://www.benzinga.com/news/global/25/03/44370451/canada-re-evaluates-lockheeds-f-35-order-amid-us-trade-tensions-we-are-also-examining-other-alternatives">Canada is reconsidering</a> its order for F-35 fighter jets from&nbsp;Lockheed Martin Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) due to these strained relations.



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Trump Says He Had An 'Extremely Productive Call' With Canadian PM Mark Carney Amid Heightened US-Canada Tensions

President <a href="https://www.benzinga.com/topic/donald-trump">Donald Trump</a> signed an executive order titled "Making the District of Columbia Safe and Beautiful" on Friday.



In so doing, Trump <a href="https://www.whitehouse.gov/presidential-actions/2025/03/making-the-district-of-columbia-safe-and-beautiful/">established</a> a task force to revitalize the nation's capital, which included a fact sheet that listed cannabis decriminalization as a failed policy that &#8220;opened the door to disorder.&#8221;



The "D.C. Safe and Beautiful Task Force" will comprise members from various government agencies that will &#8220;Surge law enforcement officers in public areas and strictly enforce quality-of-life laws in public areas like drug use, unpermitted demonstrations, vandalism, and public intoxication.&#8221; 



To that end, per the President's order, a lengthy list of federal agencies will collaborate with "local law enforcement to facilitate the deployment of a more robust local law enforcement presence as appropriate in areas in or about" the nation&#8217;s capital.



While Trump's executive order did not specifically mention marijuana, the accompanying <a href="https://www.whitehouse.gov/fact-sheets/2025/03/fact-sheet-president-donald-j-trump-works-to-make-our-nations-capital-safe-and-beautiful/">fact sheet</a> did.



"D.C.'s failed policies opened the door to disorder—and criminals noticed," it says, citing "marijuana decriminalization" as well as DC's abandoning of pre-trial detention that allows "rioters run loose even if they vandalize property and assault police."



Despite D.C. voters having overwhelmingly approved cannabis&nbsp;legalization in 2014, the district government has consistently been&nbsp;prevented by a <a href="https://www.benzinga.com/markets/cannabis/22/03/26336856/why-is-president-biden-blocking-washington-dc-from-undertaking-legal-cannabis-sales-which-it-has">legislative rider&nbsp;</a>from implementing regulated cannabis sales each time the budget comes up. Failing to remove the D.C. rider has prevented the nation&#8217;s capital from&nbsp;using local tax dollars to implement its legal cannabis program all these years. 



The first Trump administration (and continued during both Biden terms in the White House) maintained the rider.



<h2 class="wp-block-heading">Still Holding Out Hope?</h2>



While there are cannabis industry members who are holding out hope that Trump will, at the very least, undertake cannabis banking reform, which he endorsed during this recent electoral campaign, linking cannabis decriminalization to disorderly and disruptive behavior is not a very encouraging signal.



Marijuana Moment <a href="https://www.marijuanamoment.net/trump-white-house-says-marijuana-decriminalization-opened-the-door-to-disorder-in-washington-d-c/">cited</a> the prohibitionist group Smart Approaches to Marijuana, which crowed loudly on the news. "Washington DC did not just decriminalize private marijuana use for adults—it's opened the door to total legalization, which can be smelled on virtually every street today."



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Photo: Shutterstock

Cannabis

Government

Trump Links Cannabis Decriminalization To 'Disorder' In DC, Establishes Law Enforcement Task Force

A planned nationwide protest known as "Tesla Takeover" is happening on Saturday with the goal of pushing Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk out of the government in his current role helping the <a href="https://www.benzinga.com/markets/25/03/44242181/elon-musk-admits-juggling-between-tesla-doge-is-difficult-says-running-businesses-with-great-difficulty-a">Department of Government Efficiency.</a>



An event organizer told Benzinga about the reasons behind the protests, the changes they are advocating for, and their concerns that non-violent protesters are being unfairly linked to violent demonstrators and criticized by Musk and President Donald Trump.



About Tesla Takedown: While many have heard about the keying of Tesla vehicles and <a href="https://www.benzinga.com/news/25/03/44403377/elon-musk-calls-it-extreme-domestic-terrorism-after-website-publishes-data-on-us-tesla-owners">lighting Tesla vehicles </a>on fire at a select number of Tesla dealerships across the country, Americans may be unfamiliar with the non-violent Tesla protests happening weekly or biweekly at dealerships.



Adam Sheridan, a volunteer organizer with the Cooper River Indivisible<a href="https://www.cooperriverindivisible.org/"> non-profit</a>, told Benzinga that Tesla Takedown is the result of organic growth of nationwide protests.



"Tesla Takedown was something a lot of people were thinking of on their own," Sheridan told Benzinga.



Sheridan said the goal of <a href="https://actionnetwork.org/event_campaigns/teslatakedown">Tesla Takedown</a> and his group is to get Musk out of the government. On March 29, protests will happen at Tesla dealerships across the country.



Benzinga reached out to Tesla to comment on this story and did not hear back at the time of publication.



"Elon Musk seems to have purchased the American government," Sheridan said.



Believing Musk's influence stems largely from his wealth, particularly through Tesla, protesters chose Tesla dealerships as their primary demonstration sites.



"We wanted to bring that fight directly to the front lines," Sheridan added.



Sheridan said the protests are growing in number and the initial Feb. 22 event had 350 people, blowing past his expectations of 20 people.



"We knew we were onto something there."



Read Also: <a href="https://www.benzinga.com/markets/equities/25/03/44455245/tesla-vandalism-no-coordinated-efforts-detected-experts-dispute-elon-musk-and-trumps-allegations">Tesla Vandalism: No Coordinated Efforts Detected, Experts Dispute Elon Musk And Trump&#8217;s Allegations</a>



Fighting Against Elon Musk: Sheridan told Benzinga that it&#8217;s important to emphasize that the protest is against Elon Musk, not Tesla, its workers, or its shareholders.



"It's a protest against Elon Musk. What we want is we want Elon Musk out of the government," he said.



Sheridan said that Musk is "unelected" and nobody voted for him in the 2024 election.



The protest organizer said that groups are supportive of electric vehicles and some protestors even drive Tesla vehicles as they can't afford to trade them in currently. Sheridan drives a Ford F-150 Lightning himself and says his wife drives a Honda Prologue.



If Tesla were to fire Musk, Sheridan said the protests might stop and protestors could become customers.



Sheridan also said that hurting Tesla's stock price isn't a goal, noting that Tesla's stock price has been "divorced from market fundamentals" for a while, given its premium price-to-earnings ratio compared to competitors and similar companies.



After several weeks, Sheridan said the protests are "definitely working" and have caught the attention of Musk and others.



Sheridan said the goal is to make the case publicly that Musk is a "malignant influence in our government." The protest organizer cited Musk&#8217;s involvement in cuts to programs such as Social Security, Medicare, and the Department of Education.



The March 29 Tesla Takedown Day represents the growth of individual events and the desire to present a united front, Sheridan said.



Who Funds the Protests?: Sheridan said he and other protest leaders get a good laugh out of rumors that billionaires are funding their efforts against Musk.



"It's really funny to us when we hear Elon say George Soros is funding us," Sheridan told Benzinga.



Sheridan said he's been a volunteer for years for various causes and doesn't get paid and even has to pay for his own food and protests signs.



The protest leader brushes off Musk's notion that ActBlue is funding the protests, saying Musk is a smart guy who founded PayPal, which means he should know that ActBlue is a payment processor.



"I know he knows this. He's just spreading the propaganda. His general strategy is just dishonesty."



Non-Violent Protests: Sheridan is quick to highlight the difference between his group and other Tesla protests versus the violent acts being committed at select locations in a limited fashion.



"We absolutely condemn any acts of violence or vandalism," Sheridan said.



Sheridan said his group draws inspiration from the Civil Rights Movement and believes those engaging in violence and vandalism are hurting his and others&#8217; cause.



At Tesla Takedown events and other non-violent protests, guidelines are handed out to participants. Sheridan said there are also de-escalators to manage interactions with counter-protesters and safety personnel to ensure people stay off roads and don't impede traffic.



As the Tesla protests gain steam and get more coverage, Sheridan said concerns about counter-protesters and retaliation have grown.



"We do worry a lot about violence against us."



While many protests against Tesla have remained non-violent, President Trump and Attorney General Pam Bondi have criticized them. Sheridan said the characterization of non-violent protesters as domestic terrorists &#8220;fuels people&#8221; to continue protesting.



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Photo: Chris Allan/Shutterstock

Exclusives

Interview

EXCLUSIVE: Tesla Protest Organizer Says 'Elon Musk Seems To Have Purchased The American Government'

More than a year after Tesla&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) flashy Cybertruck hit the market, the numbers aren&#8217;t exactly backing up the hype. Elon Musk once claimed that the company had racked up &#8220;over 1 million&#8221; reservations. But according to <a href="https://www.benzinga.com/markets/equities/25/03/44414187/elon-musks-tesla-recalls-over-46000-cybertrucks-due-to-safety-concerns">recent recall data</a>, only 46,096 Cybertrucks have actually been sold since customer deliveries began in late 2023.



That's a big gap from the 250,000 units per year Musk said the company would sell. As Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, <a href="https://www.benzinga.com/markets/equities/25/03/44429500/teslas-cybertruck-sales-at-just-47k-is-really-bad-for-250k-target-says-ross-gerber-amid-recall-troubles">put it on X</a>: "Tesla has sold only 47k Cybertrucks total according to the recall notice. This is really bad for a product that was supposed to sell 250k units a year."



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Tesla has sold only 47k Cybertrucks total according to the recall notice. This is really bad for a product that was supposed to sell 250k units a year. <a href="https://twitter.com/search?q=%24tsla&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$tsla</a>&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1902812229172596943?ref_src=twsrc%5Etfw">March 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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<h2 class="wp-block-heading">Sluggish Sales, High Expectations</h2>



Before deliveries began, Musk tried to lower expectations during a 2023 earnings call, saying the Cybertruck would take "a year to 18 months" to become a positive cash flow contributor. Still, he added, "The demand is off the charts."



But many of those $100 reservations didn't result in actual sales. Industry expert Stephanie Valdez Streaty, director of industry insights for Cox Automotive, told <a href="https://www.wired.com/story/where-did-the-one-million-people-who-wanted-a-cybertruck-go/">Wired</a> that carmakers typically see a reservation-to-sale conversion rate of 2% to 16%. For Tesla, the rate appears to be under 5%.



<h2 class="wp-block-heading">Quality Issues and a Bumpy Launch</h2>



From the start, the <a href="https://www.benzinga.com/startups/24/10/41642511/frustrated-by-teslas-inability-to-repair-his-cybertruck-man-used-a-12-part-heres-how-he-solved-the-i">Cybertruck faced issues</a>. It was hit with multiple recalls—eight in just over a year—including problems with windshield wipers, stuck accelerator pedals, and most recently, trim panels that can fall off while driving. Tesla service centers are replacing the affected parts at no cost, but the constant fixes have hurt the vehicle's reputation.



Trending: This startup is on the brink of a huge disruption to a $654 billion industry – <a href="https://www.benzinga.com/money/venhub-adv">invest in it for under $10 before it's too late</a>.



There were also viral videos of the <a href="https://www.benzinga.com/startups/24/09/40750931/cybertrucks-are-a-disaster-now-but-winter-will-be-a-nightmare-heres-why-cybertruck-owners-should-be">Cybertruck getting stuck in snow and sand</a>. Musk's political involvement, including his work in President Donald Trump's administration, has fueled <a href="https://www.benzinga.com/markets/equities/25/03/44455245/tesla-vandalism-no-coordinated-efforts-detected-experts-dispute-elon-musk-and-trumps-allegations">public backlash and protests at Tesla</a> stores.



Even when sales appeared strong in mid-2024, analysts noted that the numbers may have come from Tesla fulfilling a backlog of old orders—not new demand.



<h2 class="wp-block-heading">Prices Jumped, Demand Dropped</h2>



When first unveiled in 2019, the Cybertruck was promised to start at $39,900. But the base model ended up costing $60,990, and early Foundation Series versions went for nearly $100,000. That steep price increase turned off many early fans.



&#8220;With the events of the last couple of years, and especially the last couple of months, I would never now consider buying a Tesla vehicle,&#8221; one former reservation holder told <a href="https://www.wired.com/story/where-did-the-one-million-people-who-wanted-a-cybertruck-go/">Wired</a>.



Used Cybertrucks are piling up on dealer lots, with prices trending down. Tesla has even reportedly buffed off the Foundation Series badging to quietly resell unsold trucks as regular models.



See Also: <a href="https://www.benzinga.com/money/elon-musk-told-the-u-n-if-they-could-show-a-plan-for-ending-world-hunger-hed-donate-6-billion-i-will-sell-tesla-stock-right-now-and-do-it">Elon Musk Told The U.N. If They Could Show A Plan For Ending World Hunger He'd Donate $6 Billion – ‘I Will Sell Tesla Stock Right Now And Do It'</a>



<h2 class="wp-block-heading">A Missed Opportunity</h2>



Some analysts argue that Tesla missed the mark. Instead of building on the success of the Model Y with a more affordable electric vehicle, the company launched a niche, high-priced lifestyle vehicle that hasn't gained mass-market traction.



"Tesla has had a big volume hit, the Model Y is in the top five selling vehicles in the U.S.,"&nbsp; Kevin Roberts, director of economic and market intelligence at CarGurus, told <a href="https://www.theverge.com/2025/1/3/24334954/tesla-cybertruck-sales-demand-expectation-elon-musk">The Verge</a>. "The Cybertruck just hasn't been that."



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'Demand Is Off The Charts'—Elon Musk Claimed Tesla Had 'Over 1 Million' Cybertruck Reservations. Just 46,096 Have Been Sold In 14 Months

Financial advisors are drowning in paperwork, outdated tech and inefficiencies. Enter Savvy Wealth, the digital-first platform <a href="https://www.benzinga.com/topic/wealth-management">revolutionizing wealth management</a>.



In an exclusive Benzinga interview at Future Proof CityWide in Miami, Florida, CEO Ritik Malhotra explained how Savvy is modernizing financial advice and why the industry desperately needs it.



<h1 class="wp-block-heading">A &#8216;Business In A Box&#8217; For Advisors</h1>



Wealth management is a <a href="https://www.crunchbase.com/organization/savvy-wealth">$545</a> billion industry, yet much of it still operates with pen, paper and Excel spreadsheets. Seventy-five percent of advisors don't offer any digital communication beyond email, and 62% manually conduct financial planning. The result? Poor client experience and advisors bogged down with non-client-facing tasks.



Savvy Wealth is tackling this problem head-on, offering financial advisors a complete, plug-and-play platform. &#8220;We help automate and take away all of the work related to middle and back office, help with marketing support, figure out all the things around financial services so that advisors can focus on the number one thing — spending more time with clients,&#8221; said Malhotra.



Read Also: <a href="https://www.benzinga.com/news/events/25/03/44520918/andrew-pitcairn-on-multi-generational-wealth-think-in-50-year-increments">Andrew Pitcairn On Multi-Generational Wealth: &#8216;Think In 50-Year Increments&#8217;</a>



<h1 class="wp-block-heading">From Snail Mail To AI-Powered Wealth Management</h1>



Malhotra's journey into fintech was personal. After selling his first startup to Box, he found himself suddenly wealthy and in need of a financial advisor. The experience was &#8220;quite antiquated&#8221; he said. &#8220;I was snail-mailing documents&#8230; DocuSign wasn't allowed for certain things.&#8221; Malhotra was clear this industry needed a serious upgrade.



His solution? Savvy Wealth. More than just another fintech platform, it provides an end-to-end solution, handling automation, compliance, marketing and operational headaches so advisors can scale efficiently. &#8220;We spoke to 100 financial advisors over the years, and they all basically pointed to one problem&#8221; — they lack the right tools to provide a modern experience to clients. So, Malhotra decided to fix that.



<h1 class="wp-block-heading">The AI Revolution In Finance</h1>



Savvy Wealth is also leaning hard into artificial intelligence, using it to streamline back-office tasks, automate marketing, and even generate financial plans. AI can &#8220;automate 90% of document filling&#8221; and help advisors &#8220;with generating marketing collateral.&#8221; The excitement, thought, is in scenario planning — advisors can dictate a client&#8217;s goals and risk profile and AI can generate an actionable financial plan instantly.



Don&#8217;t expect robo-advisors to replace humans anytime soon, Malhotra cautioned. Wealth management is going to be &#8220;human-powered first.&#8221; Robo-advisors have their place, but the advisor is the most important part of the financial equation. The company&#8217;s goal is to give them their own &#8220;Iron Man suit&#8221; — the technology that helps them be the best version of themselves, he said.



<h1 class="wp-block-heading">Investor Takeaway: The Future Is Digital</h1>



For investors, Savvy Wealth represents a prime example of fintech's growing role in transforming legacy industries. As AI and automation continue to reshape financial services, companies such as Savvy Wealth are positioned to benefit from the shift.



The traditional wealth management firms clinging to outdated methods may struggle, while those embracing digital transformation could see exponential growth.



As Malhotra puts it, &#8220;If the advisor is the superhero for the client, then we want to maximize that amount of time and actually minimize all that other work.&#8221;



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EXCLUSIVE: This FinTech Disruptor Is Giving Financial Advisors Their Own 'Iron Man Suit' — Here's How

ARK Invest CEO Cathie Wood believes small businesses are poised for a resurgence, despite facing prolonged struggles since the COVID-19 pandemic. 



What Happened: In the March edition of &#8220;In The Know,&#8221; Wood emphasized historical patterns, pointing to deregulation, tax cuts, and revived entrepreneurial spirit as catalysts for recovery. 



Comparing the current climate to the mid-1990s, Wood noted that after an early-decade surge in commodity prices hurt small businesses, the telecom revolution, productivity gains, and policy changes led to a strong rebound.



&#8220;We're pretty excited about what the next few years are going to hold for smaller businesses,&#8221; Wood said. 



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Small businesses are down, but are they out? <a href="https://twitter.com/CathieDWood?ref_src=twsrc%5Etfw">@CathieDWood</a> reveals why history says a comeback could be on the horizon in the March edition of &quot;In The Know.&quot;&mdash; ARK Invest (@ARKInvest) <a href="https://twitter.com/ARKInvest/status/1905276122071470096?ref_src=twsrc%5Etfw">March 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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Meanwhile, Fundstrat Global Advisors' Tom Lee remains optimistic about a sharp market recovery. He highlighted in an <a href="https://www.cnbc.com/video/2025/03/27/odds-of-a-v-shaped-recovery-in-stocks-that-come-after-april-2-is-extremely-high-fundstrats-tom-lee.html?__source=sharebar%7Ctwitter&amp;par=sharebar">interview</a> on CNBC that investor sentiment, which collapsed during previous downturns like 2018, has already followed a similar trajectory. 



Lee pointed to the $850 billion in cash parked in money market accounts and the possibility of further tax reforms in the second half of the year as reasons for optimism. He asserted that the odds of a V-shaped stock market recovery after Apr. 2 are &#8220;extremely high,&#8221; drawing parallels to past market rebounds.



See Also: <a href="https://www.benzinga.com/personal-finance/25/03/44527315/warren-buffett-told-students-how-he-got-rich-without-raising-a-dime-then-said-youre-already-living-better-than-john-d-rockefeller">Warren Buffett Told Students How He Got Rich Without Raising a Dime — Then Said: You&#8217;re Already &#8216;Living Better Than John D. Rockefeller&#8217;</a>



Why It Matters: Lee also identified Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) as a <a href="https://in.benzinga.com/analyst-ratings/analyst-color/25/03/44440083/tom-lee-predicts-stock-market-rebound-amid-tariff-fed-policy-shifts">key indicator of market recovery</a>. The stock has been volatile, impacted by political scrutiny and concerns over CEO Elon Musk's influence. However, Tesla has already rebounded more than 15%, which Lee sees as a bullish signal for the broader market, including the Magnificent Seven tech stocks. 



The backdrop for these predictions includes President Donald Trump's recently announced 25% auto tariffs, which rattled markets. Trump dismissed <a href="https://in.benzinga.com/general/market-summary/25/03/44508744/donald-trump-reacts-to-selloff-following-auto-tariffs-that-can-take-care-of-itself-in-one-day-two-days-or-one-week">concerns about the market selloff</a>, stating it would &#8220;take care of itself in one day, two days, or one week.&#8221; 



However, Musk warned that the tariffs would have a &#8220;significant&#8221; cost impact, potentially <a href="https://in.benzinga.com/25/03/44507598/elon-musk-warns-of-significant-impact-on-tesla-due-to-trumps-auto-tariffs-the-cost-impact-is-not-trivial">affecting pricing and supply chains</a>. With uncertainty surrounding regulatory policy, tariffs, and tax reform, Wood and Lee argue that shifting sentiment and renewed business investment could drive a strong economic and market rebound in the coming months.



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Image via Shutterstock



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Cathie Wood Sees Small Business Recovery Ahead, Tom Lee Predicts 'Extremely High' Odds Of A V-Shaped Market Rebound

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