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The stock prices of quantum computing companies are surging in premarket trading this morning after Microsoft unveiled a new type of quantum computing chip yesterday, the Majorana 1. Heres what you need to know about Microsofts breakthrough and its impact on the stock prices of quantum computing companies. What is Microsofts Majorana 1 chip? Things can get very complicated when discussing anything about quantum computing because the technology involves quantum physicsnever a straightforward subject to discuss. However, in brief, quantum computing is a burgeoning field of computing that uses the properties of quantum physics to carry out computations. In classical computing, classical computerswhich include your Android phone, your MacBook, and todays most powerful supercomputers that currently power AI platformsoperate using bits, each bit being a one or a zero. But Quantum computers operate using qubits. Due to the properties of quantum physics, a qubit can be a one and a zero at the same time, meaning quantum computers can carry out computations nearly infinitely faster than classical computersprovided they have enough quantum bits. Right now, most quantum computers have far fewer than 100 qubits, and experts think that a quantum computer will need to have at least a million qubits in order to easily process and solve complex problems (such as coming up with a cure for all cancers or creating self-healing materials). This current lack of qubit computing power is why many experts think practical quantum computers are still decades awayor at least they were. Yesterday, Microsoft announced that it has created a new type of quantum computing chip called the Majorana 1. The chip uses an entirely new form of matter, called a topoconductor, that makes it much easier to scale qubits. Right now, the Majorana 1 only has 8 qubits, but Microsoft says the chips topoconductor matter offers a path to fit a million qubits on a single chip. Because of the Majorana 1, Microsoft now says that quantum computers that can solve meaningful, large-scale problems could be on the market in years, not decades. Quantum computing stocks surge The fact that Microsofts breakthrough seems to suggest we are just years and not decades away from a reliable quantum computer has lit a fire under quantum computing stocks this morning. If practical quantum computers are just years away, then quantum computing companies stand to start growing revenues and making profits much sooner than expectedat least, thats the hope. And it seems that hope is causing some investors to buy into existing quantum computing shares. At the time of this writing, D-Wave Quantum Inc. (NYSE: QBTS), Quantum Computing Inc. (Nasdaq: QUBT), and Rigetti Computing, Inc. (Nasdaq: RGTI) are all up over 10% in premarket trading. IonQ, Inc. (NYSE: IONQ) is up around 4%. While those companies aren’t directly tied to the Majorana 1, it seems that their stock price jump is a case of a rising tide lifts all boats. If commercial quantum computing is closer than expected, companies operating in the space have a chance to gain sooner than once thought. But the stocks remain volatile While the four major public quantum computing companies are seeing their stock prices rise today in the hope that the quantum computing world is much nearer than once believed, its important to note that shares in quantum computing companies have been highly volatile over the past year. For example, while shares of QBTS are up 275% over the past 12 months as of yesterdays stock market close, its share price has dropped 22% since the beginning of the year. Likewise, QUBT shares are up 784% over the past 12 months, but they are down over 51% since 2025 began. RGTI shares are up 552% over the past 12 months but down 27% year-to-date. IONQ shares are up over 215% over the last year but down over 18% since this year began. And lately, it is not uncommon to see the share prices in these companies surge or fall by double-digit percentages in a single trading session. The point is, there is a lot of excitement around quantum computing, but also a lot of speculation. Investors are looking for the next Nvidiaa company that can quickly go from being worth billions to trillions of dollars. While Microsofts latest chip advancement is a huge step forward for the industry, there remains no certainty on where quantum computing goes from here, or how quickly everyday usage of quantum computers arrive.
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The IRS will lay off roughly 7,000 workers in Washington and around the country beginning Thursday, a person familiar with the plans told the Associated Press.The layoffs affect probationary employees with roughly one year or less of service at the agency and largely include workers in compliance departments, according to the person, who was not authorized to disclose the plans and spoke on condition of anonymity Wednesday. Compliance work includes ensuring that taxpayers are abiding by the tax code, filing their returns, and paying their taxes, among other duties.The layoffs are part of the Trump administration’s intensified efforts to shrink the size of the federal workforce through the Department of Government Efficiency by ordering agencies to lay off nearly all probationary employees who have not yet gained civil service protection. They come despite IRS employees involved in the 2025 tax season being told earlier this month that they would not be allowed to accept a buyout offer from the Trump administration until mid-May, after the taxpayer filing deadline.It’s unclear how the layoffs may affect tax collection services this year. As the nation’s revenue collector, the IRS was tasked during the Biden administration with targeting high-wealth tax evaders for an additional stream of income to the U.S., which is $36 trillion in debt. By the end of 2024, the IRS collected over $1.3 billion in back taxes from rich tax dodgers.The IRS has roughly 90,000 employees total across the United States, according to the latest IRS data. Racial minorities make up 56% of the IRS workforce, and women represent 65%.In addition to the planned layoffs, the Trump administration intends to lend IRS workers to the Department of Homeland Security to assist with immigration enforcement. In a letter sent earlier this month, DHS Secretary Kristi Noem asked Treasury Secretary Scott Bessent to borrow IRS workers to help with ongoing immigration crackdown efforts.Representatives from the IRS and U.S. Treasury did not respond to requests for comment from the AP. Fatima Hussein, Associated Press
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In The Mindset of Making, Oliver Jeffers shared a compelling invitation: Simply make as an extension of being alive. His wisdom ignited my imagination. Too often, we associate creativity with being an artist, when all of us are creators. What might the world look like if we tapped into our innate creativity? The world is a result of all of us as creators and storytellers, Jeffers shares. All human beings are is a collection of stories: There are the stories that we’re told, the stories that are told about us, and then the stories that we tell. Were all born with this sense of surviving and then makingthat is the reason that civilization flourished in the first place, he adds. So, to say that creativity is just for artistsor it’s just decoration or entertainmentis to fundamentally misunderstand the purpose of creativity. Jeffers is a visual artist and author, renowned across mediums from painting to performance, sculpture to bookmaking. Hes created 21 award-winning picture books, while presenting first of their kind art exhibits around the world. His answer reflected the spirit that he creates his own art with: an unafraid curiosity to explore both the beauty and complexity of our life on Earth. Then, an invitation to write a better story about it. In our conversation, Jeffers illuminates questions and a road map to begin doing so, individually and collectively. He shares how to trust yourself as a creative, master the art of simplicity, and ask questions to design a brighter future. This interview has been edited for length and clarity. [Image: Philomel books] Fast Company: Youve described your work as making books about what it means to be a human being. What questions do you ask yourself every day to uncover the heart of that? What answers have you discovered? If I’m talking about me as an individual, or anybody as an individual, its one set of questions. If were talking about society at large, it’s a different set of questions. With me, its: What is it that I actually want? If I can answer that question honestly, then pair it with who it’s for, it’s a unique way of understanding my own set of circumstances: Why am I doing any of this? What is it for? The question that I get asked when I’m speaking at art colleges with young adult students is: What do you do when you’re trying to find your style? Or, when you face rejection or artist’s block? When you really sit down and questionWhose validation is it you’re seeking?you probably can’t come up with an answer with a person. If you can, you probably won’t like that answer. You only get one crack at this business of being alive. So, the question to yourself is: What do you want to do with that time? What is it all for? Who is it all for? When you were talking about your books, you shared that they are distilled down to such a pure form that I have to know what theyre saying . . . What is the fewest amount of words you can use and the sparsest artwork that fully conveys the emotion and structure of the story? What is essential in the art of simplicity? How do you practice that discipline? By thinking a lot about: What is the why behind the why? What is the simpler way to say this? What is the feeling that I’m trying to convey, with as little information as possible, but with as little distortion as possible? Theres the classic line about storytelling: Give the audience what they want, just not the way they expect it. Whenever you pander to what you think people want, you end up making work that’s derivative or dry. Making art is effectively about being very, very openly vulnerable. When Im thinking about the books that arent simple stories, but about my observations in the world, say it’s a book about greed thats a comment on capitalism like The Fate of Fausto. Its not really about that. Its about: Why do we have that in the first place? Why is more always better? What is our fundamental relationship with nature all about? Its getting deeper and simpler to the point of the cogs of the wheelthe center of the wheel so to speakwhere any little movement at that zoomed-in level has a massive amplification when you magnify it. You shared a great mantra: Be the river, not the rock. What does this mean to you and how does it guide you? Its the comparison between the river and the rock specifically, because the rock is unbending and unwilling to move. It seems strong and rigid. But, the water, in its own meandering way, will find a way around it and the rock will eventually get eroded down. Do you have other mantras? Another one is when I get creative block, how I get over it is to remember that I’ll be dead soon. Thats the creative kick in the arse that anybody ever really needs. Nobody is going to do the work for you. If you want it to happen, what are you waiting for? In describing your portraiture work, you said every time I start a new painting or go into a direction of a body of work, I say: Im going to be loose this time. I want to be big and loose. I invariably keep getting back to being tighter at that skill. I somehow cant find the freedom and energy that happens intuitively with the book art on a large scale painting. Im still learning to trust myself. What have you learned about staying loose in the creative process, especially when youre simultaneously trying to improve? It was a comment on when I first set off post university. In my final years at art college, I wanted to be a painter. I wanted to be in the fine art world. Thats what I set off to do. Then, the books were a tangent from that, but the books exploded. I wanted to prove to the art world: Look, Im a real artist. So, the early paintings I was making, I discovered that I did have a talent for figurative painting. I used that to my advantage quite well. But, then I couldn’t escape from that, because I kept trying to prove to people that I can paint. The looseness and freedom is not just a visual aesthetic term. It’s about the process and the project as well. Ive been getting that with worrying less about the outcome and enjoying the act of making. So, its starting to happen. A big part of it is both literally using a bigger paintbrush. But, trusting yself and trusting the right moment, because some days it flows and some days it doesnt; And, not beating myself up on the days when it doesn’t. Lets talk about your Dipped Painting Project: You paint a portrait of someone in your studio. Then, conduct a performance where you dip it into paint for a small audience. Theyre the only people who ever see the painting. It evokes the nonattachment notions of Buddhist sand mandalas, when they create sand art and then destroy it. Tell us about the value of nonattachment in creativity and in life. How do you cultivate it? A lot of people did compare the Dipped Paintings to the monks and the sand. But, there’s one difference: They intentionally said that they destroyed the work afterwards, whereas that’s not what I’m doing. There’s a fine line between creation and destruction. What I’m actually doing is completing the creation, because it was always the intention to do that. There is still a thing that you look at. It just has a very different set of expected properties. It still looks like a beautiful object in the end, as opposed to the sand, which is scattered to the wind. I consider those paintings incomplete until they’re dipped, not completed and destroyed. Its all about intent and motivation. Language is a funny thing. Motivation can often be the nuance in language. This question may be irrelevant, given that its your intention. But, after working so hard on it, does it hurt when you dip it into paint? It doesnt, because at that point it’s a piece of performance, almost like a theatrical ceremony where there’s a lot that I’m thinking of. Theres a poem that I recite and a speech that I give. There’s a lot of choreography. I’m not thinking about the painting. I barely look at it during the ceremony. No photographs ever exist, but I have my moments with it during the process of the creation. I’ll be painting a hand, finger, or ear. I know its going to get covered. I’ve learned to appreciate that one little moment in that time. It’s like watching a sunset. Theres no point in taking a photograph of the sunset: A) Because they’re very hard to photograph; B) You never look at them again; C) Thats not what it’s about. It’s not about how it looks. It’s about how it feels. You talked about that earlier, where you’re trying to find these beautiful moments throughout the week. I’ve always been like this, where I see beauty all around me, all the time. There could be myriad reasons for that. Im very comfortable with my own mortality. I’m very comfortable with having everything or having nothing. I’m very comfortable with change and other people’s expectations. Hell, I’m just along for the ride. [Image: Philomel books] Shifting gears to your mission, this Wayne Dyer quote feels reflective of your work and the questions you have us ask: When you change the way you see things, the things you see change. What does that mean to you and what helps you embody that? Its absolutely right. It’s about perspective. There’s the theory of duality, which is a mathematical equation that shows that light, if it’s measured in particles, becomes a particle. If it’s measured in waves, it becomes a wave. How can light be both a particle and a wave? What this is really saying is: By how we choose to look at something, we define what it is. Perspective is everything. It reminds me of when I was doing research for Here We Are and looking into the overview effect and cosmology. The astronauts on Apollo 8they were the ones who took that famous Earthrise photographwhen they turned the camera around and looked at Earth, what’s less talked about is that they saw this giant landmass. But, they couldnt work out what landmass they were looking at. It was the entire bottom half of Africa, but they didn’t recognize it because it was sideways. We’ve been so conditioned to think of the map with north at the top and south at the bottom. But, that’s a perspective. The reality is that Earth is a ball floating through space. There is no up and there is no down. Therein, if you take a map of the world, turn it upside down, and label everything the right way up, which I have done, it makes everything that seems very familiar suddenly seem very foreign. Its an exercise that you can do at any point. You described that your book Begin Again was saying: Heres a key. You can get inside yourself and turn the steering wheel a little bit. Expand on that intention for us. If you go back to: What is it that you’re doing and why? If you were to take, say the division in America right now, a lot of it is about building the wall and other peopleWhat do you want? Why do you feel that this is so important? Is it because you don’t like the people that you’ve defined as your enemy and that they might be right? Or, is this what you actually want your fight to be about? When you think about: If this is the one goal that I get of being alive, do I want to spend my time proving somebody wrong? Or, do I want to spend my time enjoying beauty? When you think about it in those simple terms, what are these fights about? That’s what I mean. It was: You alone have access to that steering wheel of what your goals and motivations are. Nobody else will ever know. What does it matter that you change that? It’s not about being right and wrong. It’s about being better. Lets expand on that, because you created an entry point to have a different conversation about the moment that were in when you said: We prioritize being right over wrong more than anything else. But, if we replace the words right or wrong in any conflict or debate with better or worse, it suddenly becomes very clear what needs to happen. Its not about the ego, self, or justifying the past. Its about: What do we do now? How do we make this better? Tell us about the power of the questions that we ask to shape our conversations and the outcomes of those conversations. Most people in the USA, if you ask them what is the world that they want, without mentioning anything that they dont wantanybody who is a Democrat, Republican, or anywhere in between. No matter where they’re fro, people tend to answer the same things when they talk about what they do want, rather than what they don’t want. So, if that is where we want to be, that would be better. What are the practical ways to get there? Forgetting about right and wrong, how do we get to better? It massively changes the discourse and the route that we’re currently on. [Image: Philomel books] An important lesson youve learned is to ask people more questions. You said: Ask people things about themselves and their lives, as you never know how they will reveal their story and what you might possibly learn from it. What is your favorite question to ask people? It depends on who it is. I got to know Brandon, who started Humans of New York. He said that he can get people to sing like a canary, complete strangers, just by asking them: Whats your biggest struggle right now? People are just waiting to reveal their vulnerable underbelly in a way that they feel seen and heard. Thats a nonjudgmental way to ask that question, where I’m not trying to prove you right or wrong. I’m interested in you as a person. Lets bring this back to something that we talked about earlier. When you think about how many people, especially children, you have the ability to influence. Then, you think about creating like an artist, where youre creating for yourself. How do you continue to create for yourself, without thinking about what other people are going to think, when you have that platform and success? Art is the one industry where the more selfish you are, the more generous you are. I’ll take picture books, for example. If you think aboutWhat stories do kids want to hear?and then you try to make that story, its almost like what Henry Ford said about doing market research: If Id asked people what they wanted, they would have said a faster horse. What tends to happen is if you think about: What has worked? I’ll do that again. The next big thing was never a repeat of the last big thing. You end up pandering and making work that’s derivative and dull. But, if you are being publicly vulnerable by being selfish, like: Here’s what I want to do and see. Im going to let everybody see me do it. You end up making work that’s way more accessible than if you make work that you think people want to see, because they’re like: Yes, thats human. Theres a human sense of motivations here that I understand. That makes sense to me now.
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