Minimum wage argument CRUMBLES after Minneapolis Fed study

• Cerebras Systems (CBRS) IPO priced at $185, but debuted at $385, then traded around $337-$340, indicating strong investor appetite for AI.
• A Minneapolis Fed study revealed that minimum wage increases in the Twin Cities (Minneapolis minimum wage $16.37 as of Jan 1) were associated with job losses and reduced hours for low-wage workers.
• The study found Minneapolis lost approximately 5500 jobs and St. Paul lost 3800 jobs between 2017-2021 due to these wage hikes, even after accounting for other disruptions like COVID and unrest.

The video covers the surprising debut of Cerebras Systems (CBRS) on Nasdaq, which saw its stock price nearly double from its IPO price, reflecting strong investor interest in AI. It also delves into a Minneapolis Fed study that found minimum wage hikes in the Twin Cities led to job losses and reduced hours, negatively impacting low-wage workers and local businesses.