Mark Zuckerberg, CEO of Meta, has hired three researchers from OpenAI to bolster his company’s work on artificial intelligence. This strategic move aims to guide Meta Platforms through its current AI challenges. The social-media corporation brought aboard Lucas Beyer, Alexander Kolesnikov, and Xiaohua Zhai, all of whom previously held positions at OpenAI’s branch in Zurich, as per sources privy to this information. These individuals established OpenAI’s location in Zurich towards the end of last year. Prior to their time at OpenAI, they collaborated closely within Google DeepMind, which is the organization’s artificial intelligence division. A representative from OpenAI verified that the three scientists have departed from the organization. Zuckerberg has been on an intense recruiting drive To correct the company’s AI initiatives following the underwhelming reception of its most recent model, he has sometimes proposed giving researchers up to $100 million to become part o...
On Tuesday, June 24, the Los Angeles Unified School District board plans to vote on an $18.8 billion operating budget for the upcoming fiscal year. This vote takes place as the district gets ready to start repaying several hundred million dollars in bond debts incurred to fund legal settlements related to long-standing sexual abuse allegations from past decades. increasing oversight regarding the allocation of state funds for arts education .
Earlier this month, the board agreed to utilize up to $500 million from judgment obligation bonds to assist in financing a series of legal settlements with ex-students who claim they faced sexual abuse at the hands of school staff members.
In order to alleviate the immediate fiscal burden, the district intends to amortize the expense over a period of fifteen years. Officials stated last week that they will first issue approximately $303.6 million in bonds to repay interim loans which were previously utilized for funding settlements. The complete repayment could amount to as much as $765 million when accounting for accumulated interest.
The district is also encountering a legal challenge due to The utilization of $76.7 million from Proposition 28 for arts education funding , which is part of the updated budget.
A number of students along with ex-LAUSD Superintendent Austin Beutner have claimed that LAUSD is improperly utilizing these funds by allocating them to sustain current roles rather than bringing aboard additional arts teachers, which the voter-supported initiative mandates.
The suggested budget proposal for the upcoming fiscal year encompasses anticipated revenues of $15.9 billion alongside projected expenses totaling $18.8 billion.
Although the district has enough reserves to cover the next budget, officials have cautioned that LAUSD will likely confront an estimated $2.2 billion deficit by the 2027–28 academic year. In order to adhere to state regulations, authorities are formulating a financial stability strategy aimed at pinpointing $1.6 billion worth of reductions—this sum represents the bare minimum required for balancing the budget in that specified period.
“The total stabilization plan only accounts for $1.6 billion,” Chris D. Mount-Benites, LAUSD’s Chief Financial Officer, mentioned at a budget presentation on June 17, "If you're wondering, 'Isn’t our present shortfall $2.2 billion? So why does the stabilization strategy only account for $1.6 billion?'”
He stated that the stabilization plan merely outlines the bare essential reductions needed to comply with the state’s mandate for achieving a balanced budget by the last year covered in the district’s several-year financial projection.
Even though there are significant long-term issues, Superintendent Alberto Carvalho emphasized that the 2025–2026 budget does not foresee "any layoffs or staff cuts."
He recognized the legal obligation to present a fiscal stabilization strategy; however, he encouraged both the board members and the public to view this measure as a safety net rather than an assurance of upcoming cuts.
We are expending more funds than we receive," Carvalho stated. "Initially, this isn’t an issue since you can rely on your savings. However, should you persistently allocate far more than what’s available to you, those reserves will dwindle over time until ultimately, the grim truth sets in.
The fiscal year 2026 spans from July 2025 until June 2026.
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