A Senate committee is investigating whether cryptocurrency investor Dan Morehead violated federal tax law after moving to Puerto Rico to save hundreds of millions of dollars, utilizing a special tax break for residents. Senator Ron Wyden sent a letter to Morehead requesting information on $850 million in investment profits made in Puerto Rico, suspecting that U.S. source income may have been improperly treated as exempt from taxes. The investigation is ongoing, focusing on wealthy Americans abusing the Act 60 tax break, with the IRS identifying potential tax evasion cases and regulators cracking down on the crypto industry.
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Netflix CEO Counters Cameron's AI Cost-Cutting Vision: 'Make Movies 10% Better'
Netflix CEO Counters Cameron's AI Cost-Cutting Vision Netflix Co-CEO Ted Sarandos disagreed with director James Cameron's claim that AI could reduce film production costs by half, advocating instead for enhancements in quality during Netflix's Q1 earnings call. Sarandos highlighted Netflix's use of AI in various filmmaking processes, noting advancements exemplified by the cost-effective AI-powered de-aging technology used in "Pedro Paramo" compared to the expensive techniques in "The Irishman." He emphasized that the focus should be...
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