The U.S. Treasury is ceasing production of pennies - as they cost more to make than they’re worth.
According to a 2024 report from the U.S. Mint, we lose $85M a year minting pennies, as they cost 3.69 cents to make.
That makes the phrase “penny wise and pound foolish” officially passé - at least in America.
Many phrases like this still exist. It’s an interesting example of the power of language. Words take on meaning beyond their original usage ... and often remain relevant long after their origin has become irrelevant.
For example:
- Burning the midnight oil means working hard, but it comes from a time before electricity, when you had to use candles and lamps to light a room after dark.
- Time to face the music refers to dealing with the consequences of one’s actions, but originates from a time when disgraced military officers had to face a drumline upon discharge.
- More recently, hang-ups were what you did when you replaced a phone receiver in its cradle. Now, you can only really find a desk phone in an office. Even then, you don’t need to place it in its cradle to hang it up.
- Put a sock in it comes from the act of putting a sock into the trumpet of a gramophone.
- And Stereotypes come from a type of printing plate commonly used in old-school newspaper publishing. While it still refers to impressions ... the origin is lost on the average user of this word. Filming is rarely done on film; footage is from when film was measured in feet and frames, and you don’t need to stay tuned because your television doesn’t need to be tuned to receive the channels you like.
Until recently, technologies (and the phrases they spawned) lasted for decades, if not longer. As technology evolves at an ever-accelerating pace, new tools, platforms, and ways of communicating emerge almost daily. With these innovations come fresh slang, buzzwords, and cultural references that often catch on quickly—think “DM me,” “ghosting,” or “cloud computing.” Yet just as rapidly as they rise, many of these terms fade into obscurity, replaced by the next wave of trends. What was once cutting-edge can become outdated in a matter of years, if not months. This cycle of innovation and obsolescence is a hallmark of the modern digital era.
However, much like these old idioms, the fleeting nature of these technologies and jobs doesn’t mean they lack value or impact. Some expressions endure because they capture something universally human—emotion, conflict, humor—even if the context changes. Similarly, technologies may evolve, but their core functions or purposes often remain. The fax machine gives way to email, and email to instant messaging—but the need for communication is constant.
This principle also applies to work and tools. While job titles and methods may change, the underlying skills — such as critical thinking, collaboration, and creativity — remain timeless. A carpenter today might use laser-guided saws instead of hand tools, just as a marketer might use data analytics instead of intuition alone, but the essence of their work persists. Innovation reshapes how we do things, not always what we do.
Just as enduring phrases carry forward old meanings in new settings, so too will jobs, tools, and skills adapt and survive.
Onwards!
Make Way For 2025's Biggest Unicorns
Billion-dollar startups are becoming increasingly common with VC funding surging, and an increased focus on exponential technologies.
VisualCapitalist put together an infographic based on May's PitchBook that highlights the newest Unicorns.
If you are curious, PitchBook defines Unicorns as venture-backed companies valued at $1 billion or more after a funding round, until they go public, get acquired, or drop below that valuation.
Here is the list for 2025.
Pitchbook via visualcapitalist
Topping the list (and eclipsing every other company on the list) is Yangtze Memory out of China. They're focused on flash memory and solid-state drives. Yup, that's still a thing.
Also high on the list is Abridge, an American AI startup focused on turning doctors' conversations with patients into documentation. If you've ever talked with a clinician of any sort, you know how time-consuming documentation currently is. The combination of AI and longevity—or age reversal—is likely to become an increasingly hot area for investment.
Meanwhile, a rising tide floats many boats ... and with the continuing rise of funding in AI, you'll also find a growing list of AI unicorns, like Peregrine, Synthesia, AnySphere, Mercor, and The Bot Company.
Although these individual companies are interesting, the larger trend is probably more significant.
There have been 43 new unicorns in 2025 alone. And while the most profitable unicorns from 2024 are still OpenAI, ByteDance, and SpaceX, their competition is on the rise.
I've been a tech entrepreneur for decades, so I'm used to the constant march of progress. But this feels different. The pace is quickening!
We certainly live in interesting times!
Posted at 11:02 PM in Business, Current Affairs, Gadgets, Ideas, Market Commentary, Science, Trading, Web/Tech | Permalink | Comments (0)
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