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Trump’s Dream of Escalation Dominance: The Israel/US Proxy War for Regime Change in Iran

Flags of United States of America, Israel and Iran painted on the concrete wall with soldier shadow.

By Dan Steinbock             

The Israel/US Iran offensive is not about nuclear weapons. It is about Iran’s abundant oil and gas reserves. It is a joint effort to overthrow Iranian leaders to restore pre-1979 rule.                  

After just a month in the office, it was abundantly clear that the Trump administration was seeking expansion in North America, Hemispheric defense across the Americas and spheres-of-influence domination in critical world regions. Funded by America’s ultra-rich financiers, Trump’s cabinet was transactional, yet constrained by interventionist neoconservative ideologues.

At the time, I predicted that “miscalculations could re-inflame Gaza and spark regional escalation via Iran.” That’s where we are now.

President’s Trump’s Iran strikes do mark a turning point in US foreign policy under his leadership. Far from fulfilling his “America First” peace agenda, his administration has now purposely reignited tensions in the region, in its misguided effort at escalation dominance. It is a regime change effort, and Trump has indicated as much.

The deception campaigns          

Not so long ago, President Trump reiterated that Iran will never have nuclear weapons. Yet, according to US intelligence, Iran was up to three years away from being able to produce and deliver a nuclear weapon. So, while Israel built its case for war, the US didn’t buy it. The problem is that Trump did. Hence, his public rebuke of Tulsi Gabbard, his director of national intelligence. In the process, a misguided concept of Israel’s national security morphed into an even more twisted view of US national security.

Not so long ago, the Iran-US negotiations still proceeded promisingly. Yet, expectations were revised overnight on Thursday June 12, when the International Atomic Energy Agency (IAEA) claimed Iran wasn’t complying with its nuclear obligations. That triggered a slate of efforts – but mainly diplomatic measures – to restore the UN sanctions on Tehran later this year. Whether intended or not, the phrasing of IAEA’s chief Rafael Grossi was now seized by regime-change afficionados as an excuse for massive military intervention.

Through the process, U.S. diplomacy, including Special Envoy Witkoff’s talks and President Trump’s personal reassurances, served as a bilateral ploy, basically to cover for the Israeli surprise attack. And so it was that on Friday June 13 Israel began a major military operation against Iran.

Building on disinformation, these deception campaigns have reaped extraordinary short-term, but mainly military and tactical benefits.

A second deception campaign ensued on last Thursday, when President Trump said that he will decide whether the US will take military action in the growing Israel-Iran conflict “within two weeks.” Once again, diplomatic efforts served as a ruse for Israel’s military attack in which the US would intervene when necessary.

Building on disinformation, these deception campaigns have reaped extraordinary short-term, but mainly military and tactical benefits. By the same token, they are likely to undermine US’s international credibility for years to come.       

Militarized Objectives                  

There’s a pattern here. In 2012, Karl W. Eikenberry, ex-US ambassador to and commanding general of Afghanistan, warned of “the erosion of appropriate levels of executive, congressional, and media oversight of the American armed forces.” The conclusion of the 35-year army veteran? In the past 50 years, US foreign policy has become “excessively reliant on military power.”

In my book, The Fall of Israel (2025), I show that these trends have got far worse in the past decade. With 800 military bases in almost 90 countries, plus hundreds of such bases within the U.S., America has the biggest collection of military bases occupying foreign lands in history. The military presence abroad seems to correlate with U.S. forces engaging in military conflicts, which lead to more bases, which foster more conflicts.

Stunningly, supported by this global web, the U.S. has been in war, engaged in combat, or has otherwise employed its forces in foreign countries in all but 11 years of its existence. Today the powerful State Department serves effectively as a cover for the Pentagon, ridden by revolving doors with the mighty big defense contractors – the only ones benefiting from these misguided wars.

As former US defense secretary Robert Gates once put it, the US military has more musicians in its marching bands than the State Department has diplomats. The quip is valid. By the early 2020s, the total number of foreign service members from all foreign service agencies was about 15,600. By contrast, the US Department of Defense has over 1.3 million active-duty service members. Adding the reserve military, the figure increases to 2.1 million; and the employees of the US Homeland Security and intelligence community, another 360,000.

Personnel resources of U.S. Military and Diplomacy
Personnel resources of U.S. Military and Diplomacy
Source: Steinbock (2025) The Fall of Israel

Unsurprisingly, these lethal developments in Iran occur against the backdrop of the continuing US/NATO-led proxy war in Ukraine against Russia and Israel’s genocidal atrocities in Gaza and ethnic cleansing in the West Bank.

In the past, military action was the last resort of American diplomacy. Now diplomacy is just a thinly-veiled cover for US military force.

Fragment Iran, restore Shah-like rule, exploit energy reserves  

The ongoing offensive against Iran is a joint US-Israeli effort. Israel’s task has been to “soften” the military targets and initiate regime change operations by “taking down” Iran’s critical infrastructure, nuclear facilities, military and political elites and scientific leaders. The US has fostered these goals by deceptive diplomacy, intelligence, arms transfers and financing.

The ultimate objective is the obliteration of the Iran-led Axis of Resistance in the region. Hence, the Biden and Trump administrations’ tacit acceptance of Israel’s obliteration of Gaza, the destruction of Hezbollah’s footholds in Southern Lebanon, the efforts to rule-and-divide goals in Syria and Iraq, and the bombing of the Houthis in Yemen.

To neoconservative hawks, Iran is the ultimate prize, but a fragmented and balkanized Iran. It is Iraq 2003 déjà vu all over again, as a misrepresentation of weapons of mass destruction (WMDs) is portrayed as a raison d’être for a misguided military action against a sovereign state.

The disintegration of Iranian state seeks to undermine all opposition, while paving way to pro-US forces, including the exiled but well-funded Mojahedin-e-Khalq (MEK), which was long on the US terrorist list but is today the neocons’ darling, and Reza Pahlavi, the self-proclaimed Crown Prince of Iran touting the overthrow of the Islamic Republic to restore the pre-1979 status quo ante. In due time, these will be replaced by US proconsuls and compadre rulers.

It is these lucrative resources that have paced the West’s external interventions in the country for a century.

In the White House, regime change in Iran has huge regional economic and geopolitical importance. The Strait of Hormuz, is one of the world’s most important oil chokepoints. Iran is also the OPEC’s fourth-largest crude oil producer and the world’s third-largest dry natural gas producer. Most importantly, it holds some of the world’s largest deposits of proved oil and natural gas reserves. It is these lucrative resources that have paced the West’s external interventions in the country for a century.

End of America as a “neutral broker”

As President Trump recently posted on social media, “if the current Iranian Regime is unable to MAKE IRAN GREAT AGAIN, why wouldn’t there be a Regime change??? MIGA!!!”

In the past, military action was the last resort of American diplomacy. Now diplomacy is just a thinly-veiled cover for US military force.

The gloves are off.

In the short term, the Trump administration’s double-game can bring great tactical military benefits. In the long-run, it is undermining US international credibility.

The fantasy of America as a “neutral broker” is now in ashes.

The original version – “Trump’s bunker-busters are just a small part of Israel-US Proxy War for Regime Change in Iran” – was published by TRT Global on June 23, 2025 https://trt.global/world/article/b8452418f65c

About the Author

Dr Dan SteinbockThe author of The Fall of Israel (2025), Dr. Dan Steinbock is an internationally-renowned visionary of the multipolar world and the founder of Difference Group. He has served at the India, China and America Institute (USA), Shanghai Institutes for International Studies (China) and the EU Center (Singapore). For more, see https://www.differencegroup.net

Designers are Using Gen AI to Pilot Production-Level Code

Young female designer sitting in front of desktop computer with AI image generator on screen and typing on keypad

By Dr. Gleb Tsipursky 

At the epicenter of a rapidly transforming work landscape, Upwork has been leading an ambitious integration of generative AI into the heart of its marketplace. Dave Bottoms, GM Marketplace and SVP of Product at Upwork, described in an interview with me the organization’s journey as a decisive response to the disruptive emergence of ChatGPT at the end of 2022. Rather than approaching Gen AI as merely a tactical addition, Upwork saw it as a fundamental driver reshaping both talent productivity and the structure of work itself.

Developers embraced AI tools as productivity enhancers rather than job threats, transforming check-in rates, deployment velocity, and overall cycle times.

The company quickly established Upwork Labs, a dedicated experimental group tasked with identifying and implementing AI across its platform. A key early initiative was an AI-driven job post generator, a tool that automatically crafted optimized job postings using machine learning models. This innovation dramatically accelerated the hiring process by simplifying job post creation and enhancing discoverability, reflecting Upwork’s broader philosophy: use AI to eliminate friction without undermining the human element.

Internally, the Upwork engineering teams piloted GitHub Copilot to boost productivity, initially focusing on zero-to-one projects with minimal interdependencies. Over eighteen months, this cautious experimentation blossomed into adoption across nearly all teams. Developers embraced AI tools as productivity enhancers rather than job threats, transforming check-in rates, deployment velocity, and overall cycle times. Daily deployments, once an aspiration, became the new standard, improving scalability, reliability, and bug rates across the board.

Designers Step Into Production with Gen AI

Perhaps the most surprising development, Bottoms noted, is that designers—not just engineers—have begun producing production-level code through Gen AI tools. Upwork’s design teams, rooted in platforms like Figma, are now leveraging emerging features such as Dev Mode to export high-fidelity prototypes directly into code ready for deployment. This leap represents a fundamental shift: designers are no longer merely suggesting user experiences; they are building them.

The rise of this capability signals a profound evolution in the role of design. Traditionally, wireframes and mockups were translated into specifications that engineers would interpret. Now, designers can rapidly test, validate, and implement ideas without the intermediary step, dramatically accelerating product iteration cycles. The impact on productivity and creative agility is striking, with designers engaging in a level of technical execution previously reserved for engineers.

Alongside designers, product managers at Upwork are also experimenting with Gen AI to prototype and validate concepts faster than ever. The tools available today allow product thinkers to move from an idea to a functional demonstration in record time, setting a new tempo for innovation across the organization.

Balancing Productivity Gains with Workforce Anxiety

Despite the clear productivity advantages, Upwork acknowledges the anxiety that Gen AI adoption stirs among both internal teams and freelance talent on its platform. Developers initially worried about displacement are now largely reassured given Upwork’s focus on AI as a companion, not a competitor. True value remains rooted in understanding customer pain points, system architecture, and the nuanced application of technology—skills that no AI has yet mastered independently.

Among Upwork freelancers, similar shifts are underway. Categories like writing and translation have seen changes in human demand, as AI tools have automated many basic tasks. However, new opportunities have risen for those willing to adapt. Instead of straightforward translation, the platform now sees demand for local language experts who can fine-tune AI outputs to ensure cultural and linguistic authenticity. In writing, the emphasis is shifting toward editorial oversight, quality assurance, and SEO refinement rather than original content creation alone.

True value remains rooted in understanding customer pain points, system architecture, and the nuanced application of technology—skills that no AI has yet mastered independently.

Bottoms emphasized that freelancers who master AI-enhanced workflows are not just surviving; they are thriving. They move up the value chain by increasing their project volume and ensuring higher-quality outcomes. In a sense, AI has expanded the definition of expertise itself, rewarding those who can both collaborate with machines and provide human judgment where it still matters most.

Charting a Future of Humans Plus AI

Looking ahead, Upwork’s vision is clear: the next three to five years will be defined by a powerful synergy between humans and AI. Upwork’s mindful AI, Uma,  already powers smarter client-freelancer matching. But the ambitions go further. Bottoms envisions a future where not just humans, but agentic AI entities operate within the marketplace, acting on behalf of clients and freelancers alike.

Clients might one day deploy AI agents to search for talent, review freelancer proposals, and even collaborate on project management. Freelancers could have AI assistants finding jobs, preparing applications, and managing client communications. Upwork’s two-sided marketplace is poised to evolve into a richer, more complex ecosystem that remains deeply human but vastly more efficient.

Through it all, Upwork’s commitment to responsible AI use remains paramount. Rather than replacing humans, the company is empowering individuals to become more capable, more productive, and more valuable. As designers push into coding, as engineers deploy daily, and as product teams innovate faster than ever, one truth is emerging unmistakably: Gen AI is not just enhancing work at Upwork; it is fundamentally redefining it.

About the Author

Dr. Gleb TsipurskyDr. Gleb Tsipursky was named “Office Whisperer” by The New York Times for helping leaders overcome frustrations with hybrid work and Generative AI. He serves as the CEO of the future-of-work consultancy Disaster Avoidance Experts. Dr. Gleb wrote seven best-selling books, and his two most recent ones are Returning to the Office and Leading Hybrid and Remote Teams and ChatGPT for Leaders and Content Creators: Unlocking the Potential of Generative AI. His cutting-edge thought leadership was featured in over 650 articles in prominent venues such as Harvard Business ReviewFortune, and Fast Company. His expertise comes from over 20 years of consulting for Fortune 500 companies from Aflac to Xerox and over 15 years in academia as a behavioral scientist at UNC-Chapel Hill and Ohio State. A proud Ukrainian American, Dr. Gleb lives in Columbus, Ohio.

NATO Commits to Boosting Defence Spending to 5 Percent by 2035

NATO Commits to Boosting Defence Spending to 5 Percent by 2035

NATO leaders have pledged to increase defence spending to 5 percent of their nations’ economic output by 2035, a significant shift driven in part by pressure from U.S. President Donald Trump.

The agreement, reached Wednesday at a summit in The Hague, was described by Trump as a “big win for Europe and Western civilisation.” It marks the alliance’s most ambitious financial commitment in decades.

In a joint statement, leaders cited the “profound” threats posed by Russia and terrorism, reaffirming their shared responsibility under NATO’s collective defence clause. However, unlike last year’s declaration, the final document did not directly condemn Russia’s invasion of Ukraine.

“This is a stronger, fairer and more lethal alliance that our leaders have begun to build,” said NATO Secretary General Mark Rutte. He stressed that the pact sends a clear signal of resolve in the face of growing global tensions.

The plan requires allies to devote at least 3.5 percent of their GDP to core military spending, with an additional 1.5 percent set aside for investments linked to security infrastructure. Trump, attending his first NATO summit since 2019, called the move a “big success.”

While most leaders endorsed the shift, the proposal drew criticism from some quarters. French President Emmanuel Macron questioned Trump’s simultaneous support for higher spending and tariff disputes within the alliance, calling it contradictory. Spain and Belgium also voiced concerns over the financial targets, though they ultimately signed on to the agreement.

UK Prime Minister Sir Keir Starmer said the spending hike represents a milestone for NATO unity. “We live in a very volatile world and today is about the strength of our alliance,” he said.

Trump met Ukrainian President Volodymyr Zelensky on the sidelines and acknowledged that efforts to negotiate a ceasefire in Ukraine remained challenging. He hinted at possible increases in U.S. support, including more air defence systems.

Despite some internal friction, NATO members emerged from the summit with a renewed commitment to collective security and support for Ukraine. The defence investment pledge, while controversial, marks a turning point in the alliance’s strategic posture.

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Flexibility Requires Mentoring Managers Well

Manager monitoring his colleagues through video call

By Dr. Gleb Tsipursky

As companies rush to recalibrate workplace expectations in the wake of a more distributed workforce, one truth continues to crystallize: flexibility without leadership development is just chaos with good intentions. At ScienceSoft, a US-based software development company with an international presence, Head of PMO Pavel Ilyusenko understands that the success of hybrid and remote work hinges not only on strategy, but on skilled execution—particularly from the managers steering dispersed teams.

While much of the conversation surrounding flexible work revolves around where people work, Ilyusenko shifted the focus to how managers work in our interview. From his perspective, nurturing high performance in a flexible environment means cultivating a new breed of manager—one who mentors, guides, and supports teams without defaulting to micromanagement. In his words, “In remote work, the role of PM becomes the critical one.”

Building a Culture Without Walls

The company leans into a hybrid model that empowers employees to work remotely when they need deep focus, or to come into the office for collaboration and meetings.

ScienceSoft’s approach to flexible work is far from tentative. The company leans into a hybrid model that empowers employees to work remotely when they need deep focus, or to come into the office for collaboration and meetings. Some team members, particularly those in nearshore and offshore locations, work fully remotely. The decision to adopt such a strategy is not about reacting to trends but rather aligning with the way software engineers actually do their best work.

“The hybrid model supports those needs by giving engineers control over their environment,” Ilyusenko explains. “It helps attract talent regardless of location and scale engineering teams more efficiently.” The result is a workforce that stretches across borders without losing cohesion or culture.

This cohesion, he emphasizes, is achieved through deliberate and frequent communication. The company uses familiar digital tools—Microsoft Teams, Asana, Jira, Confluence—but the real driver of success lies in how those tools are used. “It’s all about not the tools, but the approach that we cultivate within the teams,” he says. Team-building events, regular meetings, and a culture of open communication are baked into the daily workflow, not bolted on as an afterthought.

Mentoring as a Management Mandate

But flexible work, by its very nature, can blur accountability, fracture culture, and erode alignment if left unmanaged. That’s where leadership development becomes not a luxury but a necessity. ScienceSoft’s leadership understood early that success in a remote or hybrid model requires more than process—it demands mentoring.

“We pay more attention to mentoring and professional development of our project managers,” Ilyusenko says. Managers are not just expected to keep projects on track; they’re coached to lead without resorting to top-down oversight. This means building trust, giving autonomy, and staying closely attuned to both team performance and individual needs.

Mentorship isn’t left to chance. It is tracked, assessed, and fine-tuned through a combination of hard metrics and human feedback. Project outcomes such as delivery timelines, adherence to budget, and defect rates are monitored alongside client satisfaction scores like NPS and CSAT. But these metrics are enriched by softer indicators—direct feedback from team members about their managers, insights into leadership development, and even conversations with clients about improvement opportunities.

The result is a feedback loop that supports continuous growth, both for the manager and their team. Ilyusenko’s team doesn’t rely solely on performance data to evaluate effectiveness; they triangulate it with human insight. “We measure their success by gathering feedback from their teams and tracking their growth and leadership skills,” he says.

Turning Consistency into Competitive Advantage

One of the less obvious but more critical challenges in a hybrid environment is the consistency of execution across geographies and roles. ScienceSoft confronts this by standardizing its project management processes across the company, ensuring that no matter where employees are located, the way they approach and complete projects remains uniform.

One of the less obvious but more critical challenges in a hybrid environment is the consistency of execution across geographies and roles.

This consistency creates what Ilyusenko calls “virtual rooms”—cohesive digital workspaces where teams can collaborate seamlessly. Whether an employee is logging in from a home office in Europe or joining a stand-up from a coworking space in North America, they’re operating within the same structure, guided by the same expectations, and supported by managers trained to lead under flexible conditions.

The emphasis on process discipline doesn’t constrain innovation—it protects it. By removing ambiguity from the workflow, ScienceSoft allows teams to focus on problem-solving and delivery rather than coordination and confusion.

The Steady Future of Flexible Work

While other organizations oscillate between in-office mandates and fully remote experiments, ScienceSoft’s path forward is measured and steady. “I would say that things will remain pretty much the same,” Ilyusenko reflects. “Expanding the workforce will require not only local people to be involved, but also people from all over the world.”

This is not inertia—it’s intentionality. By resisting the urge to overcorrect or chase the next big thing in workplace design, ScienceSoft anchors its remote and hybrid strategy in what works: flexibility, communication, mentoring, and consistency. Its bet is that a well-led team, empowered by choice and supported by strong processes, will outperform even the most closely monitored in-office staff.

As companies across sectors continue to navigate the complexity of flexible work, the lesson from ScienceSoft is clear: adaptability alone is not enough. To truly thrive, flexibility must be matched by mentorship. And that mentorship must begin at the top—with managers who are trained not just to manage tasks, but to develop people.

About the Author

Dr. Gleb TsipurskyDr. Gleb Tsipursky was named “Office Whisperer” by The New York Times for helping leaders overcome frustrations with hybrid work and Generative AI. He serves as the CEO of the future-of-work consultancy Disaster Avoidance Experts. Dr. Gleb wrote seven best-selling books, and his two most recent ones are Returning to the Office and Leading Hybrid and Remote Teams and ChatGPT for Leaders and Content Creators: Unlocking the Potential of Generative AI. His cutting-edge thought leadership was featured in over 650 articles in prominent venues such as Harvard Business ReviewFortune, and Fast Company. His expertise comes from over 20 years of consulting for Fortune 500 companies from Aflac to Xerox and over 15 years in academia as a behavioral scientist at UNC-Chapel Hill and Ohio State. A proud Ukrainian American, Dr. Gleb lives in Columbus, Ohio.

Digital Justice is Not a Fantasy: A Journey Into the Future with Elias Carter, Architect of Algorithmic Fairness

Fintech

By Emma Lockhart

We meet in transit. Wrocław Główny, car 12. Amid the noise of the railway station, the smell of takeaway coffee, and loudspeaker announcements, our conversation begins with a pause. This interview wasn’t meant to take place in a studio — and that was the point.

“I no longer live by a corporate schedule,” says Elias Carter shortly after he sits down across from me. He’s wearing blue geometric glasses. He smells like green tea and microprocessors.

Once the lead machine learning architect at Tamga, Carter is now an independent researcher in algorithmic ethics, a digital rights consultant, and a vocal critic of corporate AI maximalism. We talk about the past and future of fintech — and about the people he’s still trying to help through technology.

Journalist: Elias, you spent nearly six years inside Tamga. Now you’re on the outside. What exactly were you doing there — and why did it matter?

Elias Carter: In short — we were building an exoskeleton for the financial sector. Not for banks — for people. Tamga wasn’t just another fintech startup. It was an engineering lab for justice. Imagine being denied a loan just because you don’t own property in a capital city or don’t have a traditional full-time job. We operated from a different philosophy: what if it’s more important that you reliably pay for parking every month than where you were born?

Journalist: You’re talking about those 1,500 “nontraditional” variables?

Elias: Exactly. We trained our system to think differently. It wasn’t just about credit history. It included educational paths, behavioral patterns, whether you have a driver’s license, or even how often you update your operating system. We were building a digital portrait that reflected reliability as a behavioral constant — not just financial solvency.

Journalist: So it wasn’t just about making loans more accessible?

Elias: No. It was about justice. Tamga became something like Google Translate for the banking system. We translated sentences like “I always pay my debts, but the system won’t let me in” into a language the algorithm could understand. Without that translation, many people simply had no chance.

When a neural network learns empathy

Journalist: Tell me about Scorector. Is it really like GPS for your credit life?

Elias: That’s one way to put it. Scorector is a kind of credit therapist. It doesn’t just assess — it educates. “Here’s where you slipped, here’s how to fix it.” We built an algorithm that evolved from observer to mentor. It can tell you: “Pay off this debt first, wait 60 days before taking a new loan — and your score will improve by 15 points.”

Journalist: And it actually works?

Elias: More than you’d think. Over 10,000 users have already improved their credit scores. For some, that meant their first-ever decent loan, their first business, their first mortgage. These aren’t just numbers. It’s a real, living economy of small victories.

Szybka Gotówka and the phenomenon of lightning-fast lending

Journalist: What about Szybka Gotówka? That’s more than just a lending platform, right?

Elias: It’s like Tesla on steroids — but for credit. Fifteen minutes from application to payout. But the magic isn’t in the speed. It’s in the understanding. The model runs on 1,500 behavioral and social variables. We’re not guessing who will repay — we know. And we don’t exclude people based on stereotypes.

A freelancer, a taxi driver, a blogger — a traditional bank says “too unstable.” Our model says: “They’ve paid rent on time for 36 months, work with verified clients, and their cash flow is steady. They’re reliable.” This isn’t an alternative. It’s a new moral architecture for finance.

Journalist: But all of this rests on machine decisions. What if they’re wrong?

Elias: And humans don’t make mistakes?

Szybka Gotówka is a system that learns. It has analyzed hundreds of thousands of repayment scenarios.

The result?

  • Over 1 million loans issued
  • 85% fully automated
  • Zero paperwork
  • And most importantly: no discrimination based on origin, address, or employment type

An ecosystem of trust

Journalist: But how did you make money from this?

Elias: Tamga didn’t sell loans. We sold fairness infrastructure. Our clients — banks, investment funds, microfinance institutions — paid for access to accurate scoring models. We charged fees on disbursed amounts and license royalties for platform usage.

It wasn’t just a fintech company. It was an institution of trust. Algorithm + ethics + transparency = growth. Everyone won.

Journalist: So, what’s next?

Elias (pauses): More regulation, more data politicization, more demand for transparency. And that’s a good thing. Justice needs both precision and context. I believe the next phase for Tamga — or its ideological successors — is real-time personalized financial navigation.

Imagine your AI assistant saying:

  • “Don’t take a loan now — interest rates will drop in three months.”
  • “This mortgage isn’t favorable. Wait — a better bank offer is coming.”
  • “You can safely borrow if you cut back on subscriptions.”

That’s the intuitive financial interface we should all have. That’s the future we should build.

Living unplugged

Journalist: And what are you doing now?

Elias: Like a disconnected cable from a data center. First — silence. Then — fresh air. I’m reading Umberto Eco and Herbert Marcuse. Growing rosemary. Advising projects that aren’t building yet another AI slot machine but aim to shift the paradigm. The most dangerous illness in fintech is the illusion that scalability equals meaning. I stand for a future where every user is treated not as a data point, but as a person.

Advice to newcomers

Journalist: What advice would you give to those just entering fintech?

Elias: Don’t confuse data with truth. Learn Python, yes — but also study the history of social exclusion. Look beyond APIs — look into the faces of those your models might exclude. Fair fintech isn’t just about algorithms. It’s about building a world where technology amplifies justice instead of replacing it.

Station: Lublin.
Elias Carter stands up, nods lightly, and walks away. On the table, he leaves a business card. It reads only one phrase:

“Justice can be calculated — but only if you choose to want it.”

Epilogue: The Numbers behind the story

As Elias disappears — both literally and metaphorically — I’m left alone in the compartment. But his words linger, like background processes running silently. This wasn’t a typical news piece: there’s no “new feature,” “investment round,” or “market leadership.” This was something else — a story about rethinking the ethics of finance.

I open my laptop and start digging through the numbers. Tamga wasn’t just code and models. It was:

  • Over 1,500 behavioral variables that redefined credit risk
  • 1,000,000+ loans issued, 85% of which were fully automated
  • More than 10,000 users trained by Scorector to understand credit discipline
  • 15 minutes from loan application to money in the account

It wasn’t just about finance. It was about dignity, trust, and the possibility of fairness — coded into the future.

About TAMGA

TAMGA is an international fintech company that develops and delivers technological and marketing solutions for the financial sector.

The company’s mission is to improve financial literacy and make financial products simple and accessible to everyone.

TAMGA promotes the principles of responsible lending. Its consumer credit terms are personalized, helping borrowers avoid over-indebtedness.

The TAMGA lending platform enables banks and financial institutions to tailor their loan offerings in line with internal policies and business needs.
By leveraging rich behavioral data, the platform achieves higher approval rates and lower interest rates while maintaining the same level of credit risk.

TAMGA’s product portfolio includes platforms for automating offline and online lending processes, online user verification and financial profiling services, credit scoring and improvement systems, installment payment solutions, and credit comparison websites.

Stocks Jump, Oil Sinks After Iran’s Missiles Appear to Miss U.S. Targets

Oil Sinks After Iran’s Missiles Appear to Miss U.S. Targets

Oil prices plunged and U.S. stocks climbed Monday as investors bet that Iran’s missile launches toward American military bases would not escalate into broader conflict.

Crude prices fell sharply after reports suggested the strikes, aimed at sites in Iraq and Qatar, were intercepted. West Texas Intermediate dropped 7.2% to $68.51 a barrel — its steepest single-day fall since early April — pulling oil below $70 for the first time in nearly three weeks. That marks a dramatic reversal from Sunday, when prices surged to nearly $78.

Stocks rebounded on the retreat in energy prices. The Dow Jones Industrial Average added 374 points, or 0.89%, while the S&P 500 and Nasdaq gained nearly 1% each. Analysts said cooling oil prices reduced fears of inflationary pressure on businesses and consumers.

“The market is reading this as a symbolic strike rather than a serious escalation,” said Kirk Lippold, former U.S. Navy commander. “Each missile carries risk, but Iran’s restraint suggests it’s not looking to prolong the confrontation.”

Investors appear to be hoping this marks the end of Iran’s response to recent U.S. and Israeli strikes on Iranian nuclear sites. Officials in Doha were reportedly warned ahead of time about the incoming missiles, which some experts view as an effort to avoid casualties and keep diplomatic options open.

In contrast, Iran previously launched what it described as “hundreds” of missiles at Israel in mid-June, a much larger response to earlier hostilities.

Despite the geopolitical tension, so-called safe-haven assets like gold and government bonds saw little movement. Gold rose just 0.2%, while U.S. Treasury yields dipped slightly. The dollar also slipped 0.3% after rising earlier in the day.

Rapidan Energy’s Bob McNally said markets are waiting for a real supply disruption before pricing in a major oil shock. “We’ve seen many false alarms. Unless Iran actually blocks energy flows, spikes will be short-lived,” he said.

Still, some uncertainty remains. Iran’s state media has threatened to close the Strait of Hormuz — a key global oil route — but there’s been no move yet. Traders and analysts say that would be the true trigger for a deeper crisis and higher prices.

For now, Wall Street is cautiously optimistic that the worst may be over — at least for energy markets.

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Sofia’s Modern Real Estate Boom and the Contribution of Ognian Bozarov

Historic facade of the National Theatre in Sofia, Bulgaria 
Photo by Rainer Eck on Pexels

Sofia’s urban identity has dramatically evolved over the past three decades. Once defined by socialist-era blocks and traditional Bulgarian architecture, Bulgaria’s capital is now a dynamic real estate hub—where glass towers rise alongside historic facades and investment flows in from both local and international players.

From Classic to Contemporary: The City’s Transformation

Sofia’s architectural heritage is undeniably rich. Before the 1990s, its urban core was dominated by neoclassical buildings and utilitarian concrete apartment complexes—remnants of the socialist period. But with the fall of communism, the city opened its doors to private development and international capital. What followed was a building boom that brought new life to neighborhoods long defined by uniformity.

Today, you’ll find luxury apartment buildings, high-spec office towers, and modern shopping centers, reshaping Sofia’s identity into something far more global.

Bozarov’s Role in Early Modern Developments

Among the notable contributors to this evolution is Ognian Bozarov, a businessman whose investments helped pave the way for a more modern Sofia. He was involved early in projects such as The Mall and the VERTIGO Business Tower—both examples of forward-thinking developments that changed expectations around design, utility, and prestige in the local real estate market.

His involvement underscored a growing trend among Bulgarian investors: betting on long-term growth by supporting infrastructure-rich, mixed-use projects that cater to a rising middle class and a more international corporate clientele.

The Balancing Act: Growth vs. Heritage

One of Sofia’s biggest real estate challenges is managing progress without erasing the past. While new developments are essential to accommodate population growth and business expansion, many parts of the city are protected under heritage preservation laws. Developers must walk a fine line between innovation and conservation.

Adaptive reuse has emerged as a preferred strategy. In some districts, old industrial or civic buildings are being repurposed into trendy offices or residential lofts, maintaining their original charm while offering modern functionality.

What’s Driving the Market: Trends, Demand & Pricing

Sofia’s real estate growth isn’t just anecdotal—it’s measurable. According to recent data from the Bulgarian National Statistical Institute, the average residential property price in Sofia has increased by over 10% year-on-year in the past three years, making it one of the fastest-growing urban markets in Eastern Europe.

Demand remains especially strong in neighborhoods like Lozenets, Iztok, and Studentski Grad, where access to green areas, schools, and public transportation fuel ongoing interest. Meanwhile, new suburban developments on the city’s outskirts are gaining traction among young families looking for more space and modern amenities.

The commercial real estate sector is also thriving. Sofia’s office vacancy rate remains below 12%, with Class A office spaces in high demand from international tech and BPO companies. Co-working spaces, in particular, have surged, catering to the hybrid work model and startups looking for flexible arrangements.

Government-backed infrastructure investments—such as new metro lines, road improvements, and digital connectivity—are boosting long-term investor confidence. At the same time, Bulgaria’s relatively low corporate tax rate and EU membership add layers of appeal for foreign buyers.

The Future of Sofia’s Real Estate Market

Urbanization and infrastructure upgrades continue to make Sofia attractive to investors. As the city expands its metro network and introduces more pedestrian-friendly zones, real estate demand grows across both residential and commercial sectors.

Looking forward, the most successful developments will likely be those that prioritize sustainability, mixed-use planning, and smart integration into existing neighborhoods.

Sofia’s real estate market is still maturing, but it’s already demonstrating strong momentum. As Sofia continues to evolve, striking the right balance between heritage and modernity will be key—and those who understand the city’s soul are likely to continue leading the charge.

5 Best Private Credit Ratings Providers

Business hand clicking credit rating button on search toolbar

The rapid growth of private credit in recent years is changing the global capital market landscape. With this growth comes an increased potential for systemic risk in this market, so choosing the right private credit ratings provider is a key decision.

1. KBRA

As one of the best private credit ratings providers, KBRA was awarded “Ratings Provider of the Year” at the 2024 Private Equity Wire U.S. Credit Awards and won the same award at the European awards in 2025. It was also named “ABS Rating Agency of the Year” at Global Capital’s U.S. Securitization Awards in 2025.

KBRA provides forward-looking credit analysis and research that unlocks the complexities of the private credit market and specializes in middle-market borrowers, CLOs and private asset-backed transactions. Offerings such as Private Monitored Rating and Private Ratings for Investors showcase clear credit rating rationales and specialist sector analysis. KBRA is known for transparency, and unlike traditional agencies, it publishes its rating methodologies. It provides ratings through confidential data rooms and offers integration with investor platforms.

2. Moody’s

Moody’s is a long-established global credit rating agency and bond rating agency. In 2025, it announced a partnership with MSCI Inc. to enhance private credit risk assessments. The enterprise offers extensive sector coverage, with a focus on public entities. They also specialize in sub-sovereigns, infrastructure, project finance and financial institutions, using over 190 rating methodologies to reduce investor uncertainty.

Products include entry-level credit ratings for issuers, and the company’s suite of private, monitored credit rating services is delivered via a confidential data room. Moody’s offers comprehensive data services and analytical platforms, and is known for its engagement with analysts and market participants.

3. Fitch Ratings

Considered one of the “Big Three” credit rating agencies with Moody’s and S&P, Fitch Ratings has over one hundred years of history in the credit ratings industry. Private credit ratings are provided in several key areas, including non-bank financial institutions, structured finance, structured credit, fund and asset managers, corporates, and infrastructure.

Fitch Ratings offers a wide variety of tools, methodologies and indices, as well as research and analytical products to help investors manage risk. The business is also known for providing a range of additional, human-generated insights that go beyond automated ratings. With offices in 28 countries, Fitch Ratings blends global expertise with local knowledge.

4. S&P Global Ratings

S&P is considered to be the largest CRA and can trace its history back to 1860. Private credit rating services include those for direct lending, middle-market CLOs, private equity and fund financing. It also provides credit ratings and analysis for alternative investment funds, subscription-line facilities, and data center projects.

The S&P rating scale — known for issuing dynamic ratings with minimal lag — has been designed to facilitate informed decision-making. The firm has maintained its dominant market share and employs over 1,500 analysts.

5. DBRS Morningstar

Originally founded in Canada, DBRS Morningstar was acquired by Morningstar in 2019 and is now the fourth-largest global credit rating agency. It has a particularly good reputation in structured finance markets but also provides ratings for corporate finance, financial institutions, governments and public institutions, with an emphasis on transparency.

DBRS Morningstar’s European presence continues to expand, as the European Central Bank recognizes it as an External Credit Assessment Institution. The brand prides itself on its tech-forward approach. Its Viewpoint platform aims to streamline the credit rating process, and tools such as PitchBook make it easy for clients to research private capital markets.

Choosing the Best Private Credit Ratings Provider

There are a number of key issues to consider when selecting a provider. Here is an overview of what to consider when choosing the best private credit ratings provider for your unique requirements:

Credibility and reputation What is the agency’s track record and market reputation? Check their regulatory recognition.
Ratings methodology Is the company’s methodology transparent and documented? Are ratings consistently applied across sectors, and do they offer tailored methodologies for specific asset types?
Analytical expertise/sector coverage Does the agency have experience in your sector? Consider the expertise of company analysts and the extent of global versus local knowledge, as that pertains to your exposure.
Performance Investigate the accuracy of previous ratings and success in predicting defaults or downgrades. Does the agency publish performance reports?
Cost and value Is the pricing model transparent, and does the value of the insights justify the cost?
Technology/integration Are ratings and research delivered via API, dashboards, or data feeds? What about integration with your systems?
Client support What level of support will you receive? Do they offer custom insights for your specific needs or training on how to interpret their ratings?

Making the Right Choice for Financial Clarity

Selecting the best private credit ratings provider is essential for making informed investment decisions and managing risk effectively. As the private credit market continues to grow, a ratings provider’s accuracy, transparency, and credibility can significantly impact the outcomes of investors and institutions alike.

By carefully considering factors like methodology, market reputation and sector expertise, stakeholders can align with the best private credit ratings provider for their needs, empowering more confident financial strategies in an increasingly complex environment.

Why Most Companies Fail at RTO

Close-up of young businesswoman packing her things at her workplace

By Dr. Gleb Tsipursky

The concept of Return to Office (RTO) has sparked significant debate and discord in the corporate world. While many companies strive to bring employees back to the office, the execution often falls short, resulting in dissatisfaction and inefficiency. To delve deeper into the reasons behind these failures, I had a conversation with Micah Remley, CEO of Robin Powered, a workplace management platform that helps around 2,000 companies implement hybrid work and flexible workplace strategies globally.

The Disconnect: Management vs. Employees

One of the primary reasons for RTO failures, according to Remley, is the fundamental disconnect between management and employees. Management often views returning to the office as a means to boost company performance and foster collaboration. However, employees, having experienced the efficiency of remote work, struggle to see the necessity of commuting back to an office environment that often mirrors their home setup.

Management often views returning to the office as a means to boost company performance and foster collaboration.

This disconnect is exacerbated by the lack of clear communication and intentionality. “Employees don’t understand why they’re being called back to the office,” Remley notes. The common rationale that the office environment promotes better collaboration and productivity falls apart when the reality involves employees sitting in cubicles, similar to their home offices, with minimal face-to-face interaction.

The Cubicle Conundrum

Interestingly, cubicle sales have surged as companies attempt to recreate the quiet, private spaces of home offices within the workplace. However, this trend highlights a critical misalignment. The very essence of an office environment should be to facilitate interactions and collaborations that are challenging to achieve remotely. By making offices resemble home offices, companies strip away the unique benefits that an office setting should offer.

The data supports this misalignment. A recent report by the Survey of Working Arrangements and Attitudes (SWAA)  found that employees gain only about 80 minutes of additional face-to-face time per week when working from the office, which hardly justifies commuting time and effort. Thus, the expected collaborative advantage of being in the office is often not realized.

The Importance of Intentionality

Remley emphasizes that successful RTO strategies hinge on intentionality. This involves understanding and planning for the specific reasons employees should be in the office. Microsoft’s research on “moments that matter” identifies critical activities, such as the initiation of new projects or team-building exercises, that benefit significantly from in-person collaboration.

However, the challenge lies in predicting these moments. Research from Northwestern Kellogg School shows that 90% of workplace interactions happen at desks through spontaneous, everyday conversations. For these interactions to be fruitful, employees need to be in close proximity to their colleagues, a condition rarely met in current office setups where people are often dispersed.

The Failure of One-Size-Fits-All Approaches

Many companies falter by implementing rigid, top-down mandates, such as requiring employees to be in the office a set number of days per week without clear reasoning. This approach breeds resentment and fails to achieve the intended productivity boost. On the other hand, leaving the decision entirely to individual teams can result in inconsistency and a lack of coordinated effort.

Remley advocates for a balanced approach: creating a structured framework that outlines the company’s cultural and productivity goals while allowing teams the flexibility to adapt within this framework. This strategy ensures that employees understand the purpose behind the RTO policies and feel invested in their success.

Measuring Success: The Workplace Collaboration Score

To navigate the complexities of RTO, companies must measure the effectiveness of their policies. Surprisingly, most organizations lack proper metrics for evaluating the success of their RTO initiatives. Remley introduces the concept of a workplace collaboration score, which assesses three key components of in-person collaboration:

  1. Occupancy: Tracking how occupied the office is and ensuring it aligns with collaboration goals.
  2. Ad hoc Collaboration: Measuring the frequency and quality of spontaneous desk-side interactions.
  3. Planned Collaboration: Evaluating the effectiveness of scheduled meetings and ensuring they foster the desired level of interaction.

For instance, Remley shares a revealing statistic from Robin’s data: 54% of meetings in conference rooms involve only one person on a video call. This indicates a significant misalignment, as these solitary meetings do not leverage the collaborative potential of the office.

Learning from Successful Companies

Companies that excel in their RTO strategies share common practices. They prioritize co-locating teams and ensuring they are in the office on the same days, fostering an environment conducive to collaboration. Additionally, they are intentional about where employees sit, promoting proximity to high performers to boost overall productivity.

These companies also empower employees by providing data and research to guide their decisions on when and how to come into the office.

These companies also empower employees by providing data and research to guide their decisions on when and how to come into the office. This approach not only enhances buy-in but also ensures that office time is spent effectively, fostering meaningful interactions and collaboration.

Conclusion: Crafting Intentional RTO Strategies

The path to successful RTO lies in intentionality, clear communication, and a balanced approach that combines structured frameworks with team-level flexibility – that’s what I advise my clients who ask me for how to optimize their flexible work plans. By understanding the unique benefits of in-person collaboration and designing office environments to enhance these interactions, companies can bridge the gap between management’s expectations and employees’ needs. As Micah Remley insightfully points out, the key is not just to bring employees back to the office but to create a purposeful, engaging, and productive workplace that justifies the return.

About the Author

Dr. Gleb TsipurskyDr. Gleb Tsipursky was named “Office Whisperer” by The New York Times for helping leaders overcome frustrations with hybrid work and Generative AI. He serves as the CEO of the future-of-work consultancy Disaster Avoidance Experts. Dr. Gleb wrote seven best-selling books, and his two most recent ones are Returning to the Office and Leading Hybrid and Remote Teams and ChatGPT for Leaders and Content Creators: Unlocking the Potential of Generative AI. His cutting-edge thought leadership was featured in over 650 articles in prominent venues such as Harvard Business ReviewFortune, and Fast Company. His expertise comes from over 20 years of consulting for Fortune 500 companies from Aflac to Xerox and over 15 years in academia as a behavioral scientist at UNC-Chapel Hill and Ohio State. A proud Ukrainian American, Dr. Gleb lives in Columbus, Ohio.

Using AI to Automate Tasks Employees Don’t Want to Do

artificial intelligence AI research of robot and cyborg development for future of people living. Digital data mining and machine learning technology design for computer brain.

By Dr. Gleb Tsipursky

When artificial intelligence is introduced into the workplace, the conversation often turns to fears of job displacement. Yet, in a revealing interview with Andrew Joiner, CEO of Hyperscience, a different narrative emerges—one where AI isn’t simply a force of replacement, but a liberating tool that takes over the tasks most employees don’t want to do. As governments across the United States adapt to a new era of digital transformation, Joiner’s perspective reframes the promise of generative AI: not as a threat, but as an enabler of more meaningful work.

Governments Leading the Way on AI Adoption

While it’s easy to imagine the private sector as the epicenter of AI innovation, Joiner points to the public sector—particularly the federal government—as surprisingly progressive in adopting and managing AI. For years, government agencies have used AI in high-stakes domains like logistics and defense. The new frontier, however, lies in back-office functions that directly serve citizens. From Veterans Affairs to the Social Security Administration (SSA), AI is now being deployed to streamline processes, reduce wait times, and enhance service delivery.

From Veterans Affairs to the Social Security Administration (SSA), AI is now being deployed to streamline processes, reduce wait times, and enhance service delivery.

What sets this government adoption apart is its maturity. “The public sector is already familiar with the benefits and challenges of AI,” says Joiner. “Now they’re expanding its use to areas that directly affect everyday people.” That expansion, according to him, comes with the benefit of oversight and structure. Governments, he argues, are not merely interested in cost savings but in efficacy—delivering services faster and more accurately to citizens.

Shifting the Focus From Job Loss to Job Transformation

Public anxiety around AI frequently centers on job security, with headlines declaring mass layoffs as generative models become more capable. Joiner acknowledges that some roles, particularly those involving repetitive tasks like taking phone calls or summarizing citizen interactions, will indeed be automated. But he is quick to draw a distinction between task automation and job elimination.

“These tools allow employees to focus on the parts of their jobs that matter most,” he explains. “No one is excited to spend their day cross-checking signatures across dozens of documents or interpreting inconsistent grading systems from global transcripts. That’s where AI thrives—handling the tedious work so people can do what they’re best at.”

At Hyperscience, this philosophy guides their partnerships with agencies like SSA, where they process billions of documents annually. The automation supports them, freeing up time for higher-level thinking, decision-making, and person-to-person service.

Building Guardrails for Responsible Use

Concerns over biased AI decisions and errant model outputs are valid—and Joiner doesn’t shy away from them. He outlines a framework for responsible AI use that includes “human-in-the-loop” processes. These systems are designed with confidence thresholds, where the AI acts autonomously when it’s certain and defers to human review when it’s not.

“This isn’t about letting machines make all the decisions,” he says. “It’s about creating a dynamic where AI handles the grunt work, but humans are still steering the ship.” Hyperscience also supports agencies in training specialized models tailored to their unique data, a critical step given the messy, unstructured nature of government information.

That includes complex formats like scanned W2s, handwritten claims, and visa applications with varying international standards. The goal is to convert this data into structured, readable formats that AI—and human analysts—can understand.

Empowering Employees, Not Replacing Them

AI’s promise isn’t just about speed or accuracy—it’s about making people’s jobs better. “Think of it like when word processors first arrived,” Joiner says. “It changed the way we work, but it didn’t eliminate writers.” Similarly, the shift from manual document processing to AI-assisted workflows allows employees to be more effective, not redundant.

To ease the transition, Hyperscience works directly with agency employees, engaging them in the training and deployment of AI tools. This approach fosters ownership and reduces resistance. “People are understandably cautious,” Joiner notes. “But once they see how these tools reduce their mental load, the anxiety starts to fade.”

Take the Department of Justice, for example. Investigators there once spent years poring over international banking records to track corporate fraud. Now, AI models can structure those documents in a matter of hours, enabling investigators to focus on case-building instead of data entry.

A Future of Frictionless Government Services

Emerging technologies like agentic AI systems could soon autonomously initiate tasks, retrieve supplementary information, and resolve issues before a human even notices a problem.

Looking ahead, Joiner envisions a future where government workflows are not just enhanced by AI, but transformed. Emerging technologies like agentic AI systems could soon autonomously initiate tasks, retrieve supplementary information, and resolve issues before a human even notices a problem. This vision isn’t speculative—it’s already beginning to take shape.

For veterans dealing with 20,000-page medical histories, AI can now extract relevant data quickly, enabling faster decisions about benefits and care. For immigrants applying for visas, AI can normalize disparate international educational records and flag inconsistencies automatically. “These are systems built to improve lives,” says Joiner, “not just balance spreadsheets.”

As the federal government continues to scale these technologies, the ripple effects will be profound. More citizens will receive timely, accurate, and respectful service. More employees will spend their days solving problems instead of sorting papers. And more agencies will realize that the key to digital transformation isn’t replacing the human touch—it’s removing the digital noise that gets in the way of it.

The conversation around AI doesn’t need to be dominated by fear. As Joiner sees it, the real story is about freedom—freedom from tedious work, from inefficient systems, and from the limits of old technology. When done right, AI doesn’t take jobs. It takes the worst parts of them.

About the Author

Dr. Gleb TsipurskyDr. Gleb Tsipursky was named “Office Whisperer” by The New York Times for helping leaders overcome frustrations with hybrid work and Generative AI. He serves as the CEO of the future-of-work consultancy Disaster Avoidance Experts. Dr. Gleb wrote seven best-selling books, and his two most recent ones are Returning to the Office and Leading Hybrid and Remote Teams and ChatGPT for Leaders and Content Creators: Unlocking the Potential of Generative AI. His cutting-edge thought leadership was featured in over 650 articles in prominent venues such as Harvard Business ReviewFortune, and Fast Company. His expertise comes from over 20 years of consulting for Fortune 500 companies from Aflac to Xerox and over 15 years in academia as a behavioral scientist at UNC-Chapel Hill and Ohio State. A proud Ukrainian American, Dr. Gleb lives in Columbus, Ohio.

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