Secure Your Future | Weekly Business Briefs w/ Martin Perdomo

Social Security recipients finally have reason to celebrate. The SSA has dramatically changed course on its overpayment recovery approach, moving from the potential withholding of 100% of benefits to a default of just 10%. Commissioner O'Malley calls it a step toward "fairness and compassion" – but for millions of Americans who rely on these payments, it represents the difference between stability and financial disaster. This policy shift brings immediate relief, allowing those currently missing payments to request the reduced rate and restore their financial footing.

Former President Trump has sparked a constitutional debate with recent remarks questioning whether people in the United States are entitled to due process. When discussing immigration enforcement, Trump highlighted the practical impossibility of providing individual hearings for millions of people, suggesting it would take "340 years" to process everyone. While his comments point to real logistical challenges, they've prompted serious concerns from legal experts about fundamental rights. The real-world impact is already evident, with reports of hardworking individuals being deported for minor traffic violations – highlighting the complex balance between enforcement efficiency and constitutional protections.

Meanwhile, OpenAI has confirmed it will maintain its unique structure with nonprofit board oversight despite impressive financial growth. The company generated $2 billion in revenue last year and projects doubling that by 2025, yet remains committed to its capped profit model that allows investors substantial returns while prioritizing safety. Their new "preparedness framework" introduces stricter evaluation protocols and risk assessment processes for AI models, demonstrating a commitment to responsible innovation as the technology grows increasingly powerful. These developments reflect OpenAI's attempt to balance profitable growth with ethical guardrails in an industry facing mounting scrutiny.

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• 0:00 Welcome to Wealthy AF Business Brief

Transcript

Speaker 1: 0:00

Welcome back to Wealthy AF Business Brief, where we break down the latest business and economic trends that impact your investments and entrepreneurship journey. I'm your host, the lead strategist, martin Perdomo, and today we've got three major stories making headlines, so let's dive right on in. The Social Security Administration is changing course on how it recovers overpaid benefits. Until now, the agency could withhold 100% of beneficiaries' monthly payment to recoup overpayments often caused by internal errors. This policy left many recipients, including retirees and disabled Americans, with no income. Under the new rule, the SSA will default to withholding just 10% of monthly benefits unless a higher rate is requested. Commissioner Martin O'Malley called the change a step towards fairness and compassion. This shift not only reflects growing political and public pressures, but also impacts financial planning for millions who rely on these payments millions who rely on these payments. The change applies immediately and beneficiaries already subject to withholdings can request the reduced rate, beginning bringing relief and a bit more stability to their financial lives. So if you're listening to this and you know someone that's getting crushed by social security because of a mistake that they did and they're not getting their social security checks, make sure you pass this information on to them immediately and so that they can make the request so that they can start getting payments again. This is really really good news for the American people, for those on Social Security Next up, president Donald Trump is once again making headlines, this time time not just for policy, but for remarks that are raising eyebrows.

Speaker 1: 1:46

In a recent interview, trump said he was unsure whether people in the US are entitled to due process when asked about how his proposed immigration and security measures would affect constitutional rights. It's a comment that's drawn immediate reaction, particularly from legal experts and civil rights groups. Though it's unclear whether the comment reflects a change in policy thinking or just rhetoric, it has already reignited debate about the balance between national security and individual rights. So we'll have to see. So we'll have to see. And actually, what he said was he actually said that these people are illegally, illegal criminals and illegal immigrants, and you had 20. I saw the interview and you had 21 million illegal immigrants, or some are criminals. If you, if each one required a hearing, it would take 300, and each hearing was two weeks. It would take 340 years to get done, which, in a way, does make sense. However, there needs to be a balance for this, and I recently know of some guys were hardworking guys that recently got deported. Guys that are here doing work recently got deported for a minor traffic violation. So this policy is are affecting good working people in our country and, at the same time, it had to be done because we have a lot of criminals that were breaking the law in our country and, unfortunately, along with it, we're going to see some good people get caught up.

Speaker 1: 3:34

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Speaker 1: 4:20

Now back to the updates. Open. Ai, the company behind chat gpt, has confirmed it will remain under control of the nonprofit board while undergoing internal restructuring. This follows a month-long review and the brief but dramatic ousting of CEO Sam Altman in November 2023. Despite generating $2 billion in revenue in 2023 and projecting that to double by 2025, to double by 2025, openai will continue operating under its capped profit model, allowing investors up to 100x returns while maintaining board oversight Crazy.

Speaker 1: 5:16

As part of this shift, openai is launching a preparedness framework framework to manage risk from increasingly advanced ai. This includes a safety advisory group, stricter evaluation protocols and a formal risk informed development policy, all aimed at deciding whether powerful new models are safe for release. The changes underscore openAI's push to match rapid innovation with strong governance amid growing scrutiny for regulators and the public. Well, that's it for today's business brief. As always, stay sharp, stay informed to keep your business ahead of the curve. Thank you for tuning in and we'll see you next week with more insights, updates from the world of finance and economics. Appreciate you being here. Peace out.