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Citizens United anniversary marks expensive start to 2024 election on January 18, 2024 at 11:00 am Business News | The Hill

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Nearly 14 years after a controversial Supreme Court case opened the door to unlimited independent spending in federal elections, the U.S. is on track for another election cycle with record-breaking spending.

In the 5-4 decision in Citizens United v. Federal Election Commission (FEC) handed down Jan. 21, 2010, the Supreme Court ruled longstanding limits on independent expenditures by corporations, unions and other groups in federal elections violated the First Amendment right to free speech, although they cannot legally coordinate their spending with campaigns.

Citizens United kicked off “a race to the top of the spending charts,” Sarah Bryner, director of research and strategy at the money-in-politics tracking organization OpenSecrets, told The Hill.

AdImpact, a political advertising tracking firm, anticipates $10.2 billion will be spent on political advertising across broadcast, cable, radio, satellite, digital and CTV during the 2024 cycle, which would make it the most expensive in history. AdImpact tracked more than $9 billion in such political expenditures during the 2020 election cycle, the standing record.

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Super PACs and other outside groups, which were permitted to spend unlimited amounts of money on elections following the Citizens United ruling, are already outstripping spending in previous election cycles.

Outside groups have dumped nearly $318 million into 2024 presidential and congressional elections as of Sunday, OpenSecrets reported. That top-line figure is more than six times the amount spent through the same period in 2020. 

A boom in outside spending since the Citizens United decision has contributed to steadily more expensive elections.

During the 2008 cycle, the last presidential election cycle before 2010 Supreme Court ruling, candidates, political parties and independent outside groups spent $7.1 billion on federal elections, adjusted for inflation, according to OpenSecrets. During the 2020 election cycle, total spending topped $16.4 billion.

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The wash of money in politics — and its perceived influence on politicians and the policymaking process — has left many Americans skeptical that their elected representatives are working for them.

More than 70 percent of American adults across ideological and demographic lines think there should be limits on how much money individuals and organizations can spend on elections, according to a recent Pew Research Center study. The D.C.-based think tank surveyed 8,480 adults from July 10 to 16, 2023, and released the data as part of its “Americans’ Dismal Views of the Nation’s Politics” report this past fall.

But Bryner sees negative views of the role of money in politics as “more of a symptom of the kind of polarization and alienation that people feel from politics.”

“We have these legal changes that allow for huge donations by mega donors and by corporations and unions, and then we also have this societal shift where political giving is part of what people think they need to do to be involved and to make change,” Bryner said. “And I think that both of those contribute to these record totals.”

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An expensive start to 2024

There’s already a ton of money pouring into the 2024 presidential race.

Campaigns and their affiliated PACs poured more than $120 million into state political ad buys ahead of the Iowa Republican caucuses on Monday, a new record, according to AdImpact data reported by CNBC.

But whether predictions of record-breaking spending come to pass remains to be seen, Bryner said.

“I have been saying the whole time that I think that depends on what happens with this [Republican] primary,” Bryner said. “If [President] Trump wraps up the Republican nomination really fast, there are less opportunities for heavy spending in a lot of these primary contests.”

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Trump handily won Iowa, though former South Carolina Gov. Nikki Haley has closed the gap to single digits in New Hampshire, according to polling analysis by Decision Desk HQ/The Hill. Florida Gov. Ron DeSantis also remains in the race heading into the GOP primary in New Hampshire next Tuesday. 

Ciara Torres-Spelliscy, an associate professor at Stetson University College of Law who specializes in campaign finance and constitutional law, predicts another cycle of record spending if Trump and Biden face off again.

“Both of these candidates are excellent at fundraising and then you’re going to have all of the outside money and dark money trying to influence individuals’ votes,” Torres-Spelliscy said. “I think we’re in for a bumpy ride.”

President Biden’s reelection operation — comprising his campaign, joint fundraising committees and the Democratic National Committee — announced Monday it has $117 million on hand and raked in more than $97 million during the fourth quarter of 2023.

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Official year-end filings due to the FEC at the end of January will paint a clearer picture of how much money candidates have on hand heading into the first leg of the 2024 election.

‘Dark money’ fuels negative view of the role of money in politics

An overwhelming majority of Americans — 82 percent — told Pew they think donors have too much influence over decisions made by members of Congress, and 73 percent thought lobbyists and special interest groups hold too much sway.

The explosion of “dark money,” political spending to influence voters without disclosing the source or the funds by groups that do not disclose their donors, after the Citizens United decision may contribute to pessimistic attitudes about who is influencing elected officials.

“You have no idea who is paying to influence those outcomes, and I think it’s also a little bit naive to assume that even though it’s anonymous to the public, it’s anonymous to the recipient,” Bryner said.

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OpenSecrets found that of the $9 billion in outside spending between Citizens United and the 2022 election, more than $2.6 billion came from opaque sources.

Perhaps the most sensational recent example was the stunning downfall of Sam Bankman-Fried, the founder of the cryptocurrency exchange platform FTX who publicly contributed $40.7 million to federal Democratic candidates and groups during the 2022 election cycle and allegedly kept his donations to Republicans “dark.”

While independent expenditure groups, like super PACs, are legally required to disclose their donors, contributions from shell companies, nonprofits or straw donors can conceal the true source of the funds.

Dark money groups have also found creative ways to get around reporting their spending to the FEC, including stopping spending within a certain window before an election and avoiding the use of “magic words” calling on voters to support or oppose a candidate that would trigger disclosure.

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But Torres-Spelliscy told The Hill she thinks it’s “not fair to blame Citizens United for dark money.”

“Citizens United is actually good on disclosure,” Torres-Spelliscy said, noting the Supreme Court ruled 8-1 to uphold disclosure requirements as part of its decision in Citizens United.

The late conservative stalwart Justice Antonin Scalia, who voted in the majority on Citizens United, agreed the First Amendment does not extend the right to “speak” anonymously in a 2010 opinion in the case of Doe v. Reed.

“Requiring people to stand up in public for their political acts fosters civic courage, without which democracy is doomed,” Scalia wrote. “For my part, I do not look forward to a society which, thanks to the Supreme Court, campaigns anonymously and even exercises the direct democracy of initiative and referendum hidden from public scrutiny and protected from the accountability of criticism. This does not resemble the Home of the Brave.”

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Following the Citizens United decision, conservative groups were the first to use dark money aggressively, Issue One Research Director Michael Beckel told The Hill, but liberal groups have caught up in recent years, broadening the practice out across the political spectrum.

“One trend to be paying attention to this year is to what extent both teams are using dark money, or if one team is using it more. Generally in the last few election cycles, we’ve seen both Democrats and Republicans willing to use dark money vehicles. Neither side wants to be left behind in this political money arms race,” Beckel said.

Taylor Giorno previously worked for OpenSecrets.

​Business, Campaign, 2024 election, antonin scalia, citizens united, dark money, Democratic NAtional Committee, Donald Trump, Joe Biden, Nikki Haley, OpenSecrets, politics, Ron DeSantis, Supreme Court Nearly 14 years after a controversial Supreme Court case opened the door to unlimited independent spending in federal elections, the U.S. is on track for another election cycle with record-breaking spending. In the 5-4 decision in Citizens United v. Federal Election Commission (FEC) handed down Jan. 21, 2010, the Supreme Court ruled longstanding limits on…  

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Google Accused Of Favoring White, Asian Staff As It Reaches $28 Million Deal That Excludes Black Workers

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Google has tentatively agreed to a $28 million settlement in a California class‑action lawsuit alleging that white and Asian employees were routinely paid more and placed on faster career tracks than colleagues from other racial and ethnic backgrounds.

How The Discrimination Claims Emerged

The lawsuit was brought by former Google employee Ana Cantu, who identifies as Mexican and racially Indigenous and worked in people operations and cloud departments for about seven years. Cantu alleges that despite strong performance, she remained stuck at the same level while white and Asian colleagues doing similar work received higher pay, higher “levels,” and more frequent promotions.

Cantu’s complaint claims that Latino, Indigenous, Native American, Native Hawaiian, Pacific Islander, and Alaska Native employees were systematically underpaid compared with white and Asian coworkers performing substantially similar roles. The suit also says employees who raised concerns about pay and leveling saw raises and promotions withheld, reinforcing what plaintiffs describe as a two‑tiered system inside the company.

Why Black Employees Were Left Out

Cantu’s legal team ultimately agreed to narrow the class to employees whose race and ethnicity were “most closely aligned” with hers, a condition that cleared the path to the current settlement.

The judge noted that Black employees were explicitly excluded from the settlement class after negotiations, meaning they will not share in the $28 million payout even though they were named in earlier versions of the case. Separate litigation on behalf of Black Google employees alleging racial bias in pay and promotions remains pending, leaving their claims to be resolved in a different forum.

What The Settlement Provides

Of the $28 million total, about $20.4 million is expected to be distributed to eligible class members after legal fees and penalties are deducted. Eligible workers include those in California who self‑identified as Hispanic, Latinx, Indigenous, Native American, American Indian, Native Hawaiian, Pacific Islander, and/or Alaska Native during the covered period.

Beyond cash payments, Google has also agreed to take steps aimed at addressing the alleged disparities, including reviewing pay and leveling practices for racial and ethnic gaps. The settlement still needs final court approval at a hearing scheduled for later this year, and affected employees will have a chance to opt out or object before any money is distributed.

H2: Google’s Response And The Broader Stakes

A Google spokesperson has said the company disputes the allegations but chose to settle in order to move forward, while reiterating its public commitment to fair pay, hiring, and advancement for all employees. The company has emphasized ongoing internal audits and equity initiatives, though plaintiffs argue those efforts did not prevent or correct the disparities outlined in the lawsuit.

For many observers, the exclusion of Black workers from the settlement highlights the legal and strategic complexities of class‑action discrimination cases, especially in large, diverse workplaces. The outcome of the remaining lawsuit brought on behalf of Black employees, alongside this $28 million deal, will help define how one of the world’s most powerful tech companies is held accountable for alleged racial inequities in pay and promotion.

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Luana Lopes Lara: How a 29‑Year‑Old Became the Youngest Self‑Made Woman Billionaire

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At just 29, Luana Lopes Lara has taken a title that usually belongs to pop stars and consumer‑app founders.

Multiple business outlets now recognize her as the world’s youngest self‑made woman billionaire, after her company Kalshi hit an 11 billion dollar valuation in a new funding round.

That round, a 1 billion dollar Series E led by Paradigm with Sequoia Capital, Andreessen Horowitz, CapitalG and others participating, instantly pushed both co‑founders into the three‑comma club. Estimates place Luana’s personal stake at roughly 12 percent of Kalshi, valuing her net worth at about 1.3 billion dollars—wealth tied directly to equity she helped create rather than inheritance.

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Kalshi itself is a big part of why her ascent matters.

Founded in 2019, the New York–based company runs a federally regulated prediction‑market exchange where users trade yes‑or‑no contracts on real‑world events, from inflation reports to elections and sports outcomes.

As of late 2025, the platform has reached around 50 billion dollars in annualized trading volume, a thousand‑fold jump from roughly 300 million the year before, according to figures cited in TechCrunch and other financial press. That hyper‑growth convinced investors that event contracts are more than a niche curiosity, and it is this conviction—expressed in billions of dollars of new capital—that turned Luana’s share of Kalshi into a billion‑dollar fortune almost overnight.

Her path to that point is unusually demanding even by founder standards. Luana grew up in Brazil and trained at the Bolshoi Theater School’s Brazilian campus, where reports say she spent up to 13 hours a day in class and rehearsal, competing for places in a program that accepts fewer than 3 percent of applicants. After a stint dancing professionally in Austria, she pivoted into academics, enrolling at the Massachusetts Institute of Technology to study computer science and mathematics and later completing a master’s in engineering.

During summers she interned at major firms including Bridgewater Associates and Citadel, gaining a front‑row view of how global macro traders constantly bet on future events—but without a simple, regulated way for ordinary people to do the same.

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That realization shaped Kalshi’s founding thesis and ultimately her billionaire status. Together with co‑founder Tarek Mansour, whom she met at MIT, Luana spent years persuading lawyers and U.S. regulators that a fully legal event‑trading exchange could exist under commodities law. Reports say more than 60 law firms turned them down before one agreed to help, and the company then spent roughly three years in licensing discussions with the Commodity Futures Trading Commission before gaining approval. The payoff is visible in 2025’s numbers: an 11‑billion‑dollar valuation, a 1‑billion‑dollar fresh capital injection, and a founder’s stake that makes Luana Lopes Lara not just a compelling story but a data point in how fast wealth can now be created at the intersection of finance, regulation, and software.

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Harvard Grads Jobless? How AI & Ghost Jobs Broke Hiring

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America’s job market is facing an unprecedented crisis—and nowhere is this more painfully obvious than at Harvard, the world’s gold standard for elite education. A stunning 25% of Harvard’s MBA class of 2025 remains unemployed months after graduation, the highest rate recorded in university history. The Ivy League dream has become a harsh wakeup call, and it’s sending shockwaves across the professional landscape.

Jobless at the Top: Why Graduates Can’t Find Work

For decades, a Harvard diploma was considered a golden ticket. Now, graduates send out hundreds of résumés, often from their parents’ homes, only to get ghosted or auto-rejected by machines. Only 30% of all 2025 graduates nationally have found full-time work in their field, and nearly half feel unprepared for the workforce. Go to college, get a good job“—that promise is slipping away, even for the smartest and most driven.​

Tech’s Iron Grip: ATS and AI Gatekeepers

Applicant tracking systems (ATS) and AI algorithms have become ruthless gatekeepers. If a résumé doesn’t perfectly match the keywords or formatting demanded by the bots, it never reaches human eyes. The age of human connection is gone—now, you’re just a data point to be sorted and discarded.

AI screening has gone beyond basic qualifications. New tools “read” for inferred personality and tone, rejecting candidates for reasons they never see. Worse, up to half of online job listings may be fake—created simply to collect résumés, pad company metrics, or fulfill compliance without ever intending to fill the role.

The Experience Trap: Entry-Level Jobs Require Years

It’s not just Harvard grads who are hurting. Entry-level roles demand years of experience, unpaid internships, and portfolios that resemble a seasoned professional, not a fresh graduate. A bachelor’s degree, once the key to entry, is now just the price of admission. Overqualified candidates compete for underpaid jobs, often just to survive.

One Harvard MBA described applying to 1,000 jobs with no results. Companies, inundated by applications, are now so selective that only those who precisely “game the system” have a shot. This has fundamentally flipped the hiring pyramid: enormous demand for experience, shrinking chances for new entrants, and a brutal gauntlet for anyone not perfectly groomed by internships and coaching.

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Burnout Before Day One

The cost is more than financial—mental health and optimism are collapsing among the newest generation of workers. Many come out of elite programs and immediately end up in jobs that don’t require degrees, or take positions far below their qualifications just to pay the bills. There’s a sense of burnout before careers even begin, trapping talent in a cycle of exhaustion, frustration, and disillusionment.

Cultural Collapse: From Relationships to Algorithms

What’s really broken? The culture of hiring itself. Companies have traded trust, mentorship, and relationships for metrics, optimizations, and cost-cutting. Managers no longer hire on potential—they rely on machines, rankings, and personality tests that filter out individuality and reward those who play the algorithmic game best.

AI has automated the very entry-level work that used to build careers—research, drafting, and analysis—and erased the first rung of the professional ladder for thousands of new graduates. The result is a workforce filled with people who know how to pass tests, not necessarily solve problems or drive innovation.

The Ghost Job Phenomenon

Up to half of all listings for entry-level jobs may be “ghost jobs”—positions posted online for optics, compliance, or future needs, but never intended for real hiring. This means millions of job seekers spend hours on applications destined for digital purgatory, further fueling exhaustion and cynicism.

Not Lazy—Just Locked Out

Despite the headlines, the new class of unemployed graduates is not lazy or entitled—they are overqualified, underleveraged, and battered by a broken process. Harvard’s brand means less to AI and ATS systems than the right keyword or résumé format. Human judgment has been sidelined; individuality is filtered out.

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What’s Next? Back to Human Connection

Unless companies rediscover the value of human potential, mentorship, and relationships, the job search will remain a brutal numbers game—one that even the “best and brightest” struggle to win. The current system doesn’t just hurt workers—it holds companies back from hiring bold, creative talent who don’t fit perfect digital boxes.

Key Facts:

  • 25% of Harvard MBAs unemployed, highest on record
  • Only 30% of 2025 grads nationwide have jobs in their field
  • Nearly half of grads feel unprepared for real work
  • Up to 50% of entry-level listings are “ghost jobs”
  • AI and ATS have replaced human judgment at most companies

If you’ve felt this struggle—or see it happening around you—share your story in the comments. And make sure to subscribe for more deep dives on the reality of today’s economy and job market.

This is not just a Harvard problem. It’s a sign that America’s job engine is running on empty, and it’s time to reboot—before another generation is locked out.

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