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We Must Act Now Letter.

We Must Act Now
Statement on AI’s Transformation of the Economy

AI may become radically more powerful over the next 10 years.
This could drive an unprecedented transformation of our economy, larger than the Industrial Revolution, but unfolding over a vastly shorter time frame. It could bring risks, including large-scale job displacement, as well as opportunities such as major gains in living standards.

Economists, policymakers and technology leaders must act now to understand the economics of transformative AI and to build the incentives, guardrails, and institutions needed to steer AI in a direction that complements humans and benefits society.

Signatories

Erik Brynjolfsson, Stanford University

Ajay Agrawal, University of Toronto

Anton Korinek, University of Virginia and Anthropic

Tom Cunningham, METR

Michael Spence, New York University*

Daron Acemoglu, MIT*

Diane Coyle, University of Cambridge

Chad Jones, Stanford University

David Autor, MIT

Joseph Stiglitz, Columbia University*

Niall Ferguson, Stanford University

Jason Furman, Harvard University

Simon Johnson, MIT*

Christopher A. Pissarides, London School of Economics*

Paul Milgrom, Stanford University*

George Akerlof, Georgetown University and University of California, Berkeley*

Philippe Aghion, INSEAD*

Dan Hendrycks, Center for AI Safety

Eric Schmidt, Former CEO of Google

Peter Howitt, Brown University*

Oliver D. Hart, Harvard University*

Bengt Holmstrom, MIT*

Alvin Roth, Stanford University*

Michael Kremer, University of Chicago*

Roger B. Myerson, University of Chicago*

Paul Krugman, Graduate Center of the City University of New York*

Ben Bernanke, Brookings Institution*

Robert J. Shiller, Yale University*

Pascual Restrepo, Yale University

Jaan Tallinn, University of Cambridge

Daniel Susskind, Gresham College

Yoshua Bengio, Université de Montréal, LawZero and Mila

Gillian Hadfield, Johns Hopkins University

Raffaella Sadun, Harvard Business School

Tyler Cowen, George Mason University

Reid Hoffman, Greylock

Wojciech Zaremba, OpenAI Foundation

David J. Deming, Harvard University

Jack Clark, Anthropic

Ronnie Chatterji, OpenAI

Dean Ball, OpenAI

Jeff Dean, Google

Joshua Gans, University of Toronto

Abhishek Nagaraj, University of California, Berkeley

Jeffrey Sachs, Columbia University

Peter McCrory, Anthropic

Alex Imas, University of Chicago

Stephanie Bell, Partnership on AI

Rebecca Finlay, Partnership on AI

Gina Raimondo, RAISE US

Yann LeCun, Advanced Machine Intelligence Labs

John McHale, University of Galway

Oskar Nordström Skans, Uppsala University

Ebehi Iyoha, Harvard Business School

Kevin Bryan, University of Toronto

Judy Chevalier, Yale University

Shannon Liu, University of Toronto

Shai Bernstein, Harvard Business School

Alexander Oettl, Emory University

Benjamin Jones, Northwestern University

Scott Stern, MIT

Hong Luo, University of Toronto

Amir Sariri, Purdue University

John List, University of Chicago

Rebecca Henderson, Harvard Business School

Ben Weidmann, University College London

Kristina McElheran, University of Toronto

Basil Halperin, University of Virginia

Christian Catalini, MIT

Rembrand Koning, Harvard Business School

Lee Lockwood, University of Virginia

Daniel Trefler, University of Toronto

Annie Liang, Northwestern University

Anders Humlum, University of Chicago

Jonathan Colmer, University of Virginia

Maria del Rio-Chanona, University College London

Janice Stein, University of Toronto

David Yanagizawa-Drott, University of Zurich

Frank Neffke, Complexity Science Hub

Eva Vivalt, University of Toronto

Doh-Shin Jeon, Toulouse School of Economics

Adam Posen, Peterson Institute for International Economics

Jakub Growiec, SGH Warsaw School of Economics

David Hémous, University of Zurich

Elliott Ash, ETH Zurich

Klaus Prettner, Vienna University of Economics and Business

Donghyun Suh, Bank of Korea

Benjamin Moll, London School of Economics

Philipp Schmidt-Dengler, University of Vienna

Olivier Blanchard, Peterson Institute for International Economics

Emilio Calvano, LUISS University of Rome

John Van Reenen, London School of Economics

Maryam Farboodi, Cornell University

Sholto Douglas, Anthropic

John Schulman, Thinking Machines

Martin Beraja, University of California, Berkeley

John Fernald, INSEAD

Boaz Barak, Harvard University and OpenAI

Arnaud Costinot, MIT

Noam Brown, OpenAI

Anna Salomons, Tilburg University and Utrecht University

Olivier Jeanne, Johns Hopkins University

Neil Thompson, MIT

Simone Daniotti, Utrecht University

Jerry Yang, AME Cloud Ventures

Leonardo Gambacorta, Centre for Economic Policy Research

Daniel Kokotajlo, AI Futures Project

Michiel Bakker, MIT and Google DeepMind

Manuel Trajtenberg, Tel Aviv University

Giacomo Calzolari, European University Institute

Jeff Wilke, Re:Build Manufacturing

Jacques Crémer, Toulouse School of Economics

Danny Yagan, University of California, Berkeley

Beatrice Weder di Mauro, Centre for Economic Policy Research

Max Tegmark, MIT

Vinod Khosla, Khosla Ventures

Benjamin Shiller, Brandeis University

Oren Etzioni, University of Washington

Martin Ford

Oded Galor, Brown University

Sarah Friar, OpenAI

Marc L. Busch, Georgetown University

Walid Hejazi, University of Toronto

Dilip Soman, University of Toronto

John Danaher, University of Galway

Thomas Astebro, HEC Paris

Alex Tabarrok, George Mason University

Alberto Galasso, University of Toronto

Alfonso Gambardella, Bocconi University

Reza Satchu, Harvard Business School

Alex Whalley, University of Calgary

Tom Davidson, Forethought Center for AI Strategy

Laurina Zhang, Boston University

Andrew Scott, University of Oxford

Jean-Etienne de Bettignies, Queen's University

Sam Manning, GovAI

Joel Blit, University of Waterloo

Sampsa Samila, IESE Business School

Roshni Raveendhran, University of Virginia

Liz Lyons, University of California, San Diego

Ramana Nanda, Imperial College London

Marianne Bertrand, University of Chicago

Arnaldo Camuffo, Bocconi University

Maxim Massenkoff, Anthropic

Petra Moser, New York University

Shivaji Sondhi, University of Oxford and Princeton University

Danny Buerkli, Windfall Trust

Carles Boix, Princeton University

Anna Yelizarova, Windfall Trust

Ken Ono, Axiom Math and University of Virginia

Isaiah Andrews, MIT

Anders Sandberg, University of Oxford

Martin Chorzempa, Peterson Institute for International Economics

Gita Gopinath, Harvard University

Zoë Hitzig, Anthropic

Lawrence Katz, Harvard University

Nathan Wilmers, Anthropic

Sebastian Becker, HEC Paris

Markus K. Brunnermeier, Princeton University

Sebastian Mallaby, Council on Foreign Relations

Adrian Brown, Windfall Trust

Sonia Sennik, Creative Destruction Lab

Ioana Marinescu, University of Pennsylvania

Nicholas Bloom, Stanford University

Johannes Hermle, Anthropic

Ashesh Rambachan, MIT

Brian Jabarian, Carnegie Mellon University

Lukas Althoff, Stanford University

Soumitra Shukla, Harvard Business School

Andrey Fradkin, Boston University

Andrew Koh, Columbia University

Prasanna Tambe, University of Pennsylvania

Cheryl Wu, Yale University

Albert Wenger, Union Square Ventures

Gigi Danziger, Eutopia

Chris Tonetti, Stanford University

Justin Bullock, Americans for Responsible Innovation

Bryan Seegmiller, Northwestern University

Betsey Stevenson, University of Michigan

Stefanie Stantcheva, Harvard University

Justin Wolfers, University of Michigan

Eva Lyubich, Anthropic

Chrishan Thuraisingham

Szymon Sacher, Anthropic

Thomas Houlden, Columbia University

Ben Golub, Northwestern University

Carlos J. Serrano, HEC Paris

Heski Bar-Isaac, University of Toronto

William Strange, University of Toronto

Jen Baggs, University of Victoria

Victor Aguirregabiria, University of Toronto

Melissa Lynne Dell, Harvard University

Jasmine Sun

Rob Reich, Stanford University

James Landay, Stanford University

Anousheh Ansari, XPRIZE Foundation

Fiona Chen, Harvard University

Michael Nayak, XPRIZE Foundation

George Williamson, The Alan Turing Institute

Michael Chui, McKinsey

Gabriel Unger, Stanford University

Katya Klinova

Parker Whitfill, METR

Arvind Karunakaran, Stanford University

Georgios Petropoulos, University of Southern California Marshall School of Business

José Ramón Enríquez, Stanford University

Christos Makridis, Arizona State University

Luca Vendraminelli, Stanford University

Alvin Wang Graylin, Stanford University

Sophia Kazinnik, Stanford University

Christina Langer, Stanford University

Riitta Katila, Stanford University

Lynn Wu, University of Pennsylvania

Matt Beane, University of California, Santa Barbara

David Nguyen, Stanford University

Avinash Collis, Carnegie Mellon University

Pamela Mishkin, Stanford University

Andy Haupt, Stanford University

Neale Mahoney, Stanford University

Robb Willer, Stanford University

Sinan Aral, MIT

Thomas W. Malone, MIT

Wajeeha Ahmad, Stanford University

Diyi Yang, Stanford University

Mary MacLennan

Wang Jin, Chapman University

Arjun Ramani, MIT

Glen Weyl, Microsoft Research

J. Frank Li, University of British Columbia

Jeremy Howard, fast.ai

Matt Gentzkow, Stanford University

Bharat Chandar, Stanford University

Jiaxin Pei, Stanford University

Sarah Bana, Chapman University

Ramiz Razzak

Molly Kinder, Breakwater Initiative

Arvind Narayanan, Princeton University

Laura Tyson, University of California, Berkeley

Tristan Harris, Center for Humane Technology

Christie Ko, Stanford University

Susan Young, Stanford University

  • Nobel laureate

New Policy for H1Bs

Big development in the H1B scam. Every Software Engineer position at Capital One contains this text:

At this time, Capital One will not sponsor a new applicant for employment authorization, or offer any immigration related support for this position (i.e. H1B, F-1 OPT, F-1 STEM OPT, F-1 CPT, J-1, TN, E-2, E-3, L-1 and O-1, or any EADs or other forms of work authorization that require immigration support from an employer).


Bank of America ends back-to-back remote days for hybrid staff

https://www.msn.com/en-us/money/other/bank-of-america-ends-back-to-back-remote-days-for-hybrid-staff/ss-AA2a63P6?ocid=msedgntp&pc=ACTS&cvid=6a7f22320f7f47b794912555dfdf4ad7&ei=26

The revised hybrid work policy, including the ban on consecutive remote days and the three-day in-office requirement, will be implemented across all Bank of America offices in the United States. The bank has not disclosed the number of employees who will be affected by this change.


Make this make sense

Forged Fiber is hiring for remote positions. AT&T’s own careers site currently shows remote and virtual openings.

So apparently remote work is good enough for some parts of the company, but the rest of us need to be in the office five days a week.

Same company. Same technology. Same Teams calls. Same internet. Yet two completely different sets of rules.

I guess they finally figured out that telling candidates they have to report to an office five days a week isn’t exactly a great way to attract talent. But somehow the employees already here are still being told that five-day RTO is essential.

If a job can be done remotely when you’re trying to hire someone, why can’t it be done remotely after you’ve hired them?

This is exactly why people don’t buy the BS argument that 5x RTO is about productivity. It’s a policy choice.

And apparently even AT&T knows when it needs to make a different choice to get the talent it wants. This place is really a joke.


What if we just stopped?

At what point do we employees just stop playing along with this ridiculous RTO policy?

Seriously, what happens if we collectively decide that enough is enough and stop treating 5x RTO like it’s some sacred commandment?

They can’t fire everybody. And if they tried, they’d have an even bigger problem on their hands - like a massive talent and productivity disaster worse than we are already seeing.

The irony of this whole thing is “leadership” has created a policy so unpopular that the only thing keeping it functioning may be the assumption that everyone has to comply individually.

Maybe it’s time to start asking what happens when employees realize they have leverage too.

Five-day RTO isn’t inevitable. It’s a BS policy no others in the industry follow. A policy we didn’t even follow ourselves for decades before Covid, and policies can be changed. Maybe that’s what it takes.


WPE Policy Changes

Does anyone have manager-level insight into the new WPE policy? My manager gave a presentation that was clearly built with Copilot based on what they learned in manager training, and the rules seem pretty aggressive. For example, even if your kid, a dependent, or a pet is sick, you’re still required to come into the office — no exceptions carved out for that. On top of the inflexibility, we’re expected to absorb whatever extra costs come with that (childcare, pet care, etc.) on pay that’s already not great.

When we tried to ask clarifying questions, my skip-level shut it down, saying that asking questions suggests you’re trying to get around the policy rather than follow it.

I’m not looking to fight this — I want to understand it well enough to actually comply, without getting flagged as difficult just for asking how it works. Has anyone found a way to get real answers without triggering that reaction?


Campus dress code policy!

What happened to the Campus dress code policy, i've been wearing complete Nike attire since i joined. I rarely see women employees wearing Nike attire. Especially in tech side ladies wear sandals and their like dresses, feel bad for mens! Some FTEs even wearing big lettered competitive brands attire!


Researchers examined RTO mandates and found no improvement in financial performance or value, but a clear fall in employee satisfaction

When researchers examined return-to-office mandates across S&P 500 companies, they found no significant improvement in financial performance or firm value, but a clear fall in employee satisfaction — making the policy’s measurable human cost easier to find than its promised economic benefit

https://siliconcanals.com/t-return-office-mandates-firm-performance-employee-satisfaction/


US Immigration Policy Tightens for Skilled Workers

New US immigration policies are creating significant challenges for Indian professionals. USCIS guidance now allows for petition rejections without prior requests for evidence. Additionally, a proposed rule aims to eliminate the 60-day grace period for H-1B visa holders after job loss. These changes could lead to more immediate departures for affected workers. Experts are observing increased interest in alternative long-term visa options.

United States

https://www.latestly.com/us/h-1b-visa-holders-face-tougher-us-immigration-rules-amid-policy-shifts-report-7551741.html/amp


Student Loan Limits Tighten

New federal borrowing caps are creating significant funding gaps for students pursuing higher education. An expert warns that soaring tuition costs combined with these new loan limits will force many students to seek private loans. This situation is particularly challenging for graduate students who previously relied on the Federal Direct Grad Plus Program. Experts advise students to carefully compare lenders and repayment plans to avoid financial pitfalls. The article suggests that the core issue is tuition costs, not student debt itself.

Eatontown, New Jersey

https://nj1015.com/student-loans-repayment-tips/


Ooops, I did it again

Once again, left 1/2 day, might even telecommute tomorrow, didn't update MOOSE, but my boss won't know, because they aren't here. I won't get in trouble but still getting paid. People get mad, but it's just because they are jealous that I am one of the boss's favorites


July 26: Adjusted Possible working days should be 22 NOT 23 (Independence day)

The July total possible working days appear to be overstated. With Independence Day observed on 07/03/26, the total should be 22 working days; however, it is currently posted as 23. This discrepancy suggests that U.S. Bank may no longer be observing the country’s Independence Day.


Dont be me

USE ALL OF YOUR PTO AND SICK TIME WHILE YOU CAN!

Unfortunately, I live in a "use it or lose it" state. I have 120 hours of sick time and 66 hours of PTO that I need to use within the next two weeks. To make matters worse, my PL said we're not allowed to request time off during the first and last weeks of August and the beginning of September because those weeks are blocked by the company. This literally only leaves the week of 8/10 & 8/17 to use it and with sick time, i would need a drs note for anything more than 3 days smh...

It really su-ks. That's a lot of earned time—and a lot of money—I may end up leaving on the table.


Time Off

I had heard but it’s not been verified that for those of us leaving 9/4 that we should be careful and not use all our vacation time left because we haven’t actually earned time for Oct, Nov or Dec. Can someone co firm? I know we can’t take time last 2 weeks because that’s clearly written on the FAQ.


2nd Job

I’m thinking about secretly taking a non IT job without Fidelity knowing, as I don’t think it’s any of their business. Has anyone done this?

Will they find out, and if they do, what are the repercussions?

I really need the extra income. My husband left and between the bills and the mortgage, I’m struggling to make ends meet.


Current WFH Policy By Location

Current WFH by Major Location
Alpha = 15 Flex days
BH=2 days per week + 15 Flex days = 104 days + 15 = 119 Days Per Year (*flagship location with not enough parking that floods. We'll done team. Must have gotten a fat bonus for picking that select piece of real estate).
Omaha - 15 Flex days
Others on permanent work from home, no rhyme or reason, no explanation, It's just that way. Don't ask, Don't tell.


Company policy explicitly says that 2 people must be in the store at all times

Here's a pet peeve. Why isn't company policy being enforced? Company policy explicitly says that 2 people must be in the store at all times. Why is this policy not being enforced? And why are DL's conveniently looking the other way on this? Strictly following this policy would help a lot, because then corporate would see how bad things really are when they see the amount of stores that would open late and close early every day.


MN RTO bemoaners: If you don't want to go to the office, quit.

Sick of all the complaining about RTO as though it's somehow outrageous for a company to ask employees to work the way they were originally hired to work.

Companies are generally entitled to make reasonable changes to how work is performed. They can reasonably change your responsibilities, raise performance expectations, require compliance with workplace policies, and require employees to work from the office if that's what they believe is best for the business.

You don't have to agree with that philosophy, and it's perfectly reasonable to prefer remote work. But framing every RTO decision as the product of greedy executives or some malicious agenda ignores the fact that businesses make these decisions for a variety of reasons. Most companies would rather adopt policies that are popular with employees. When they see that a particular arrangement isn't delivering the results they expected -or isn't worth the cost- they change course.

In MN's case, employees are relatively expensive compared with many other locations. One of the main reasons those roles were based in MN was proximity to the company's headquarters and leadership. If employees are rarely in the office, that advantage is essentially gone. At that point, it's fair to ask why the company should continue paying MN labor costs instead of hiring elsewhere.

You may disagree with the decision, but it's not irrational. It's a business judgment about cost, collaboration, and the purpose of maintaining a headquarters workforce.

If in-office work is a condition of employment, your choices are to accept it, negotiate, or find another job. You'll be happier than complaining on here constantly.

That's not cruelty-it's how employment works.


U.S. Bank CEO Gunjan Kedia announced remote employees are grandfathered in during today's All Company Townhall!

While the bank is seemingly pursuing a direction where employees must return to an office for 60%+ of their time, during today's All Company Townhall CEO Gunjan Kedia announced that remote employees are "grandfathered in". It is unclear the extent of this decision from the leader of the 5th largest bank in the country, and whether employees who were remote but have since been forced into an office in conflict with their own wishes will have the option to return to remote work.

Many employees have been speculating that groups within the company will begin forcing remote employees to pick a home hub location or face termination with cause by end of this year. Will this new direction from the CEO help assuage these fears? Kedia very clearly outlined that remote roles are no longer being hired for with the exception of Customer Service representatives, which apparently is cost effective enough for the bank that the Managing Committee couldn't be bothered to upset these employees lives for the sake of their own commercial real estate investments.

Kedia was also proud to note that the bank is continuing to honor remote employees who have a legitimate medical accommodation, but did not note that this is a legal requirement under the ADA.

https://www.reddit.com/r/USbank/comments/1v4lw50/us_bank_ceo_gunjan_kedia_announced_remote/