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☆ Snapchat avoided 'AI' and leaned into real experiences in its annual pitch to brands
▼ + stars: | 2024-05-02 | by ( Dan Whateley | Sydney Bradley | ) www.businessinsider.com time to read: +6 min

During the Snap-owned app's pitch to brands at its NewFronts presentation on Wednesday in New York, the company emphasized the value of real-world experiences, or IRL, over social-media scrolling. Sharing became contrived, and social media as a whole began feeling like an inauthentic version of our lives rather than a source of genuine connection." It's plastered ads on competitive social media platforms and billboards with its "Less Social Media. Related storiesSnapchat executives mentioned AI just once during the NewFronts presentation, saying the company had used AI models to build augmented-reality lenses. Snap is not the only social platform addressing lonelinessSnapchat's war against social media taps into a broader trend.

Persons: —, Colleen DeCourcy, Cipriani, DeCourcy, TikTok, Dan Whateley, NewFront, Meta's, Mervana Parekh, Snapchat, Patrick Harris, Piper Sandler Organizations: Service, Facebook, Meta, Business, NFL, NBA, NBC, Entertainment, Media, Snap's, Acrew, Big Tech Locations: New York, Manhattan, Americas

☆ Leaked memo: Amazon requires cloud events to spend up to 80% of their time talking about generative AI
▼ + stars: | 2024-05-02 | by ( Eugene Kim | ) www.businessinsider.com time to read: +5 min

Read previewExpect a lot more talk of generative AI at Amazon cloud computing events this year. "Up to 80% of all Global Summit sessions will be sourced from 2023 re:Invent sessions tagged to Gen AI." The new directive shows how Amazon is going to extraordinary lengths to promote its AI prowess, at a time when interest in generative AI is skyrocketing. On Tuesday, Jassy said Amazon is on pace to generate "multi-billion" dollars in revenue this year from its generative AI offerings. Generative AI has already been accounting for a larger share of Amazon's public comments.

Persons: —, Patrick Neighorn, we've, Andy Jassy, Jassy, It's Organizations: Service, Services, Business, AWS, Amazon, Global, Microsoft, Google, Meta

☆ Don't ignore threats like inflation, recession, and war, warn Wall Street's biggest bosses
▼ + stars: | 2024-04-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

If the 10-year bond rate goes up 2%, every asset on the planet, including real estate, is worth 20% less. Advertisement"If things stay where they are, we have the soft landing that seems to be embedded in the marketplace, the real estate will muddle through. They won't muddle through under higher rates with a recession. That would be tough for a lot of folks, not just real estate, if that happens." Jeenah Moon / Reuters"We're in a period that comes after financial repression, where we'll have some inflation and some real rates.

Persons: —, Wall, shouldn't, Jamie Dimon, I'm, David Solomon, Goldman Sachs, Jane Fraser, Julian Restrepo, Larry Fink, Stephen Schwarzman, Ted Pick, Morgan Stanley, Jeenah, Michael Santomassimo, Wells, Alistair Borthwick, that's Organizations: Service, Wall Street's, Business, titans, JPMorgan, Citigroup, AP, BlackRock, Blackstone, Bank of America Locations: East, Ukraine

☆ JPMorgan beats on earnings as CEO Jamie Dimon rings the alarm on global trouble
▼ + stars: | 2024-04-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The banking giant grew revenue by 9% and net income by 6%. CEO Jamie Dimon, however, rang the alarm on geopolitical and economic challenges. AdvertisementJPMorgan reported first-quarter earnings on Friday that surpassed Wall Street's expectations, as CEO Jamie Dimon rang the alarm once again on a troublesome geopolitical and economic backdrop. America's biggest bank posted a 9% year-on-year rise in revenue to $41.9 billion, which helped to drive its net income up 6% to $13.4 billion. Dimon hailed JPMorgan's strong performance in the earnings release, but also issued a stark caution about the current global backdrop.

Persons: Jamie Dimon, —, Dimon Organizations: JPMorgan, Service, CIB, CB, First Locations: CCB

☆ What Wall Street bosses from Goldman Sachs to JPMorgan are saying about the jobs outlook for 2024 in investment banking, wealth management, and more
▼ + stars: | 2024-01-16 | by ( Emmalyse Brownstein | Alex Morrell | Reed Alexander | ) www.businessinsider.com time to read: +11 min

Last year, banks opened 2023 by forecasting layoffs, including for the investment bankers who suddenly had nothing to do following the pandemic-era M&A and IPO boom. Citigroup kicked off 2024 ominously, warning that it will lay off as many as 20,000 employees by 2026. The bank expects 2024 expenses to increase further to total $90 billion, up $2.8 billion from 2023, and much of that will be focused on hiring. CFO Barnum on Friday said the bank is gearing up for a "rebound in the investment banking wallet." Headcount declined 3% to 80,006 from 82,427, while compensation expenses rose to $24.5 billion from $23 billion.

Persons: It's, it's, Jane Fraser, Jeremy Barnum, JPMorgan Chase Jamie Dimon, JPMorgan Chase, Alex Wroblewski, JPMorgan's headcount, Barnum, Friday, Patrick T, Fallon, —, Fraser, Q, Goldman Sachs Goldman Sachs, David Solomon, BRENDAN MCDERMID, Goldman Sachs, Denis Coleman, Coleman, Goldman, Bank of America Brian Moynihan, Robert Galbraith, headcount, BofA, Alastair Borthwick, execs, they've, Brian Moynihan, Wells Fargo Charles Scharf, Lucy Nicholson Wells Fargo, Michael Santomassimo, Charlie Scharf, Santomassimo, BlackRock Larry Fink, Fink, Kapito, Morgan Stanley Ted Pick, Morgan Stanley, Jeenah, Headcount, Morgan, Ted Pick, Sharon Yeshaya, Blackstone Steven Schwarzman, Blackstone, Gonzalo Fuentes Organizations: Business, Citigroup, JPMorgan, Citi, BlackRock, Blackstone, Getty, AlphaSense, Citigroup Citigroup, Bank of America, REUTERS, Robert, Robert Galbraith Bank of America's, Reuters, AP BlackRock, Global Infrastructure Partners Locations: Wall, headcount, Wells Fargo

☆ Struggling insurance upstart Oscar is making a long shot bet on a Trump-era program to fuel growth
▼ + stars: | 2024-01-16 | by ( ) www.businessinsider.com time to read: +6 min

The New York insurance company has struggled to find its footing for years. At the top of the list is this little-known Trump-era policy, which offered employers a new way to give workers health benefits. Oscar has struggled with deep lossesBertolini is the former CEO of the insurance company Aetna. The company raised its health plans' prices and renegotiated contracts with healthcare providers and vendors — including its pharmacy-benefit manager — to lower expenses. In the future, Oscar plans to design specific health plans that cater to those types of customers.

Persons: —, Joshua Kushner, Mario Schlosser, Oscar, it's, Mark Bertolini, It's, Bertolini, Trump, Ari Gottlieb, Elijah Nouvelage, haven't Organizations: Service, Business, New, Morgan Healthcare, Aetna, Reuters, HRAs Locations: New York, ICHRAs

☆ I visited T.J. Maxx's outdoorsy sibling Sierra, the most interesting brand in the TJX family
▼ + stars: | 2024-01-14 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +6 min

Sierra is TJX's outdoor lifestyle brand, selling apparel, gear, home goods, and pet products. Business Insider visited a store for a closer look at T.J. Maxx's younger, sportier sibling. The Sierra store in Madison, Wisconsin, is just two doors down from a T.J. Maxx location. Dominick Reuter/Business InsiderSierra's tiny stature means it barely receives individual mention in TJX earnings calls beyond annual announcements of planned store openings, per AlphaSense. AdvertisementTJX's fingerprints are all over Sierra's stores, and the combination of its tried-and-tested playbook with this retail category make the small-but-mighty brand an exciting one to follow.

Persons: —, Dominick Reuter, I'm, TJX, Placer.ai, Ernie Herrman, Stanley, Dick's, REI, Sierra Organizations: Business, Service, Sporting, Sierra, Trading, Marshalls, Public Lands Locations: Wisconsin, Sierra, Madison , Wisconsin, Reno , Nevada, Wyoming, Denver, Burlington , Vermont, Framingham , Massachusetts, Maxx, REI

☆ 2023 has been an AI feeding frenzy, here are the startups that attracted the most investment this year
▼ + stars: | 2023-12-04 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +7 min

Despite an overall slump in startup funding, 2023 saw a scramble among investors to pour money into AI and machine learning startups. And the company's star still appears to be rising, despite a messy leadership struggle that recently spilled into public view. Meanwhile OpenAI's perennial rival Anthropic attracted multi-billion dollar investments from both Google and Amazon to fund a competing AI model known as Claude. At the same time legacy companies from John Deere to accounting firm PwC played up their AI bona fides to capitalize on the hype. The list doesn't include startups who have not publicly released the amount of their funding rounds.

Persons: OpenAI, Anthropic, Claude, Databricks, John Deere, PwC, Fresh Organizations: Microsoft, Google, Alpha, Technology, Monogram, Sigma, Lambda, Helsing, Metals, Eagle Eye, Amelia, Asimov, Farmers Business, Harbinger, Prins, Silo, Mistral, Alto, AMP, Management Software, Universal, Coro, Kodiak Robotics, Aerospace, Defense, Sana, Corti, Kyte, Mitra, Tech, Boss Digital Technology, Halcyon, & $ Locations: PitchBook

☆ Elon Musk warned of Cybertruck headaches, consumers' debt woes, and a 'stormy' economic backdrop on Tesla's earnings call. Here are his 14 best quotes.
▼ + stars: | 2023-10-19 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Elon Musk tackled a wide range of topics during Tesla's third-quarter earnings call on Wednesday. The world's richest man and CEO of the electric-vehicle maker underscored the difficulties of scaling Cybertruck production, touted Tesla's Optimus humanoid robot over Boston Dynamics' mechanical dogs, and trumpeted his cost-cutting efforts, according to a transcript provided by AlphaSense/Sentieo. Tesla's Optimus robot appearing to do yoga. (Musk was describing Tesla's focus on cutting the cost of car parts by even a few cents.) Tesla is "not going to sink," says Elon Musk.

Persons: Elon Musk, Musk, —, Elon, Oz, Marie Antoinette, Tesla's, that's, Tesla, they've, You've Organizations: Service, Boston Dynamics, AlphaSense, General Motors, Chrysler, Getty, Silicon Valley Bank, Suisse — geez Locations: Silicon

☆ JPMorgan's Dimon and Goldman's Solomon warn investors to be 'cautious' and 'vigilant' as economic risks mount and conflicts rage
▼ + stars: | 2023-10-18 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Investors should be very cautious, two leading Wall Street CEOs warned on recent earnings calls. JPMorgan's Jamie Dimon cautioned the boost to portfolios from public policy wouldn't last. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementTwo Wall Street heavyweights have urged investors to be careful as they navigate a morass of economic and geopolitical threats.

Persons: JPMorgan's Jamie Dimon, Goldman Sachs, David Solomon, —, Jamie Dimon, Dimon, Solomon, there's, we've, Goldman Organizations: Wall, Service, JPMorgan, AlphaSense, Hamas, Federal Reserve, Goldman Locations: China, Russia, Ukraine, Israel

☆ Walmart says customers on Ozempic are actually spending more money overall
▼ + stars: | 2023-10-11 | by ( Gloria Dawson | ) www.businessinsider.com time to read: +3 min

Walmart told the analysts the small group of known customers who take the drugs spend more overall. AdvertisementAdvertisementWalmart is trying to clarify the impact weight-loss drugs like Ozempic and Wegovy are actually having on its bottom line. AdvertisementAdvertisementBut speaking to Morgan Stanley analysts, Walmart has clarified "two potential misconceptions," the analysts wrote. But, within this group, Walmart observed these customers were spending slightly less on food year over year. In aggregate, GLP-1 spending changes are not moving the needle for Walmart's total business, the authors write.

Persons: Morgan Stanley, —, John Furner, Furner, hasn't, Rice Krispies Organizations: Walmart, Service, Bloomberg

☆ Pepsi says people are skipping meals — and it's great for business
▼ + stars: | 2023-10-10 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

PepsiCo says the impact of weight-loss drugs on its sales has so far been "negligible." Analysts say companies will have plenty of time to prepare for the impact of weight-loss drugs. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisement"This is not going to have a material impact on the food industry in the next six months to one year," CFRA analyst Arun Sundaram told Insider. "The food industry overall will continue to evolve and innovate," he added.

Persons: —, Ramon Laguarta, Sabra hummus, Laguarta, Arun Sundaram Organizations: PepsiCo, Analysts, Service, Nordisk, North Locations: AlphaSense

☆ Ozempic isn't the existential threat food companies think it is — yet
▼ + stars: | 2023-10-06 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +6 min

Food companies fear soaring Ozempic sales could hurt their bottom lines. AdvertisementAdvertisementExecutives at America's biggest food companies can't stop talking about Ozempic . And early data suggests that Ozempic sales will have some impact on the food industry. AdvertisementAdvertisementFor example, if consumers begin to prefer smaller portions, food companies have time to adjust their package sizes, and restaurants have time to modify their menus. "This is not an existential threat to the food industry," he said.

Persons: —, Doug McMillon, Arun Sundaram, Morgan Stanley, Walmart's John Furner, Steve Cahillane, Rice Krispies, Jefferies, Sundaram, David M, Gordon, Ozempic Organizations: Service, America's, Nordisk, North, Walmart, Bloomberg, Wall, Cheesecake

☆ AlphaSense CEO: We help enterprise customers find critical insights to make better decisions
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAlphaSense CEO: We help enterprise customers find critical insights to make better decisionsJack Kokko, AlphaSense founder and CEO, joins 'Squawk Box' to discuss the state of the company, now valued at $2.5 billion after announcing a $150 million Series E funding round today, how the A.I.-powered market research and data platform stacks up against the competitors including Bloomberg and FactSet, and more.

Persons: Jack Kokko Organizations: Bloomberg

☆ AI startup AlphaSense valued at $2.5 bln after latest funding round
▼ + stars: | 2023-09-28 | by ( Jaiveer Shekhawat | ) www.reuters.com time to read: +1 min

Sept 28 (Reuters) - Market intelligence platform AlphaSense has raised $150 million in a fresh round of funding that boosted its valuation to $2.5 billion, underscoring strong demand for artificial intelligence (AI) startups. Big Tech companies including Amazon (AMZN.O) and Microsoft (MSFT.O) have been pouring billions into securing ties with AI startups that are reshaping their industry. When asked if AlphaSense has any plans for an initial public offering, CEO Jack Kokko told Reuters the company has "plenty of capital more than we could hope for" right now. Investing in new initiatives, especially in generative AI, is a focus too as the company explores expanding its product offering, Kokko said in an interview. AlphaSense helps its customers extract relevant information from a trove of public and private content such as equity research, earnings calls, company filings and news.

Persons: Goldman Sachs, AlphaSense, Jack Kokko, Kokko, Mary Meeker, Jaiveer Singh, Devika Organizations: Viking Global, Big Tech, Amazon, Microsoft, Reuters, Thomson Locations: Bengaluru

☆ Walmart's CEO loves Sam's Club's TikTok-famous cashews, too
▼ + stars: | 2023-09-15 | by ( Gloria Dawson | Alex Bitter | ) www.businessinsider.com time to read: +3 min

Sam's Club private-label cashews are popular on TikTok. Sam's Club shoppers on TikTok enthusiastically discover and try new flavors like everything (as in bagel) and street taco cashews. The top seller is the Member's Mark Roasted Whole Cashews with Sea Salt, according to Sam's Club. Last year, Sam's Club announced a revamp of its Member's Mark brand, according to Marketwatch. Sam's Club said its cashews are highly rated and often re-purchased.

Persons: Doug McMillon, Goldman Sachs, cashews, Goldman, McMillon, Dale Peterson Organizations: Sam's, Walmart, Shoppers, Service, Sam's Club, Goldman Sachs, Target, Costco, Alabama Locations: Wall, Silicon, Alabama

☆ JPMorgan's Jamie Dimon warns of recession and rate hikes, flags global dangers, and quotes Warren Buffett twice in a new interview. Here are the 8 best quotes.
▼ + stars: | 2023-09-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Dimon quoted Warren Buffett twice to flag the risks to banks and trumpet prudence in business. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. The billionaire banker and JPMorgan CEO also championed prudent risk management, and warned that more lenders could run into problems like Silicon Valley Bank did this spring. If you have that with a recession, yes, you're going to see a little bit more stress and strain in the system." (Dimon was referring to other banks getting caught out by rising interest rates like Silicon Valley Bank.)

Persons: Jamie Dimon, Dimon, Warren Buffett, headwinds, It's, we've, There's, Warren, — he's Organizations: Service, JPMorgan, Bank, Barclays, AlphaSense, Silicon Valley Bank Locations: Wall, Silicon, Ukraine, Silicon Valley

☆ Warren Buffett turns 93 today. Here are 6 of the investing icon's best birthday stories.
▼ + stars: | 2023-08-30 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

"On August 30, 2030 — my 100th birthday — I plan to announce that Geico has taken over the top spot, " Buffett said in his 2015 shareholder letter. AdvertisementAdvertisementIn his 1999 shareholder letter, Buffett credited Huggins' "fanatical insistence on both product quality and friendly service" for See's generating $857 million in pre-tax income since Berkshire took over. During the party, Dinsdale revealed he had attended a directors' meeting at Kansas Bankers Surety, an insurance firm that Buffett had long admired. "I'm now scheming to get invited to Jane's next party," Buffett joked. He illustrated the point in his 1990 shareholder letter, using a story about his granddaughter Emily's fourth birthday party a few months earlier.

Persons: Warren Buffett, Berkshire Hathaway, Buffett, Geico, he's, Huggins, Law Buffett, Charlie Munger, Chuck Huggins, See's, Charlie, Mrs B, Rose Blumkin, Mrs, Jane Rogers, Roy Dinsdale, Dinsdale, I'm, Jane's, Emily's, Emily, Gee, B's Organizations: Berkshire, Apple, Service, Progressive, Allstate, AlphaSense, Nebraska Furniture Mart, Kansas Bankers Locations: Wall, Silicon, Nebraska

☆ Merch, vinyl, hotels and credit cards: Taylor Swift's Eras Tour helped a bunch of companies – but hurt others
▼ + stars: | 2023-08-26 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Taylor Swift's Eras Tour had a significant impact on several public companies this summer. "Knowing how our guests can't get enough of Taylor Swift, we proactively secured an exclusive vinyl offering that Swifties bought in droves." "In July, Taylor Swift launched her Eras Tour merch shop with us experiencing unprecedented volume sales and site visitors on launch day, and we were ready for it." "Folks aren't buying as much patio furniture when they're spending hundreds or thousands of dollars to go to Taylor Swift. Rolling Stones, U2, Madonna, Prince, and this Taylor Swift performance was at a whole different level.

Persons: Taylor, Taylor Swift, Swifties, Christina Hennington, — Harvey Finkelstein, — Boyd Muir, — Leslie Hale, Raymond Martz, Jon Bortz, Wee Ee Cheong, Thomson Leighton, James Conroy, It's, Jonathan Johnson, Tom Schmitt Organizations: Service, AlphaSense, Merchandising, Universal Music, Lodging, Overseas Bank, Bot, Akamai, Forward Locations: Wall, Silicon, Chicago

☆ AI chip giant Nvidia mentioned a particular company again and again during its latest blockbuster conference call. You'll be surprised which one.
▼ + stars: | 2023-08-24 | by ( Alistair Barr | ) www.businessinsider.com time to read: +3 min

Investors have been counting how many times executives say 'AI' on conference calls. Instead, I counted how many times Nvidia mentioned different companies on its latest call. AdvertisementAdvertisementThis year, investors have been counting how many times company executives say "AI" on earnings conference calls. Here's one example, where the CEO discussed large companies adopting new AI technologies. Amazon and Google, two of the largest cloud and AI companies on earth, only got a couple of callouts each.

Persons: That's, It's, Nvidia's, Jensen Huang Organizations: Nvidia, Morning, Tech, Sentieo, VMware, Broadcom, Google

☆ Goldman Sachs' second-quarter earnings bombed. Here are 5 numbers that best explain what went wrong and where the company is headed.
▼ + stars: | 2023-07-19 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +9 min

Wall Street earnings season has been challenging across the board, but perhaps none have had it as tough as Goldman Sachs. "This moment in the economic cycle creates meaningful headwinds for Goldman Sachs and our business mix. Here are the five numbers explaining the complex story of Goldman Sachs' second-quarter earnings and its shift from consumer banking to asset management fees. Goldman Sachs Earnings PresentationROE: Down to 4%The return on shareholders' equity fell to 4% this quarter, down from 11.6% last quarter. Goldman Sachs' 2Q23 Earnings Presentation Goldman Sachs' 2Q23 Earnings PresentationEquity underwriting: up 133%One bright spot was equity underwriting, or the process of helping companies raise money through the sale of stocks.

Persons: Goldman Sachs, David Solomon, it's, ROE, Goldman, Morgan Stanley, Goldman's, Solomon, Denis Coleman, Coleman, Solomon's, we've, Marcus, they've Organizations: Wall, Citigroup, JPMorgan, Wells, Global Banking, Goldman, Apple, GreenSky, Wealth Management, Investment Locations: Goldman, Wells Fargo

☆ What layoffs? JPMorgan Chase is growing headcount in every division despite a dealmaking drought and possible economic slowdown.
▼ + stars: | 2023-07-14 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +5 min

Wall Street has suffered severe layoffs amid a dealmaking drought and shaky economic outlook. Headcount is up in every division, not including thousands of First Republic employees onboarded in July. Jobs have grown in every division despite the non-stop news about industry layoffs (think Goldman) and consolidation (think Credit Suisse). It has also cut about 40 high-paying investment banking jobs, and about 1,000 jobs from its home lending unit. The bank also beat Wall Street's expectations and has again become a challenger to Goldman Sachs' spot as No.

Persons: JPMorgan Chase, Jobs, Goldman, It's, headcount, Goldman Sachs, Morgan Stanley, May, JPM, Jamie Dimon, JPMorgan's, Jeremy Barnum Organizations: JPMorgan, First Republic, onboarded, Suisse, JPMorgan Headcount, Bank Division, Consumer, Community Bank, Investment Bank, Bank, Wealth Management, First, Republic, Wall, Credit Suisse, UBS, Reuters, Global, Basel III Locations: Louis , Missouri, First Republic, San Francisco, China, Ukraine, Basel

☆ JPMorgan's Jamie Dimon reels off a list of dangers to the US economy - and warns they could inflict serious damage
▼ + stars: | 2023-07-14 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Jamie Dimon flagged a long list of threats facing the US economy on Friday. He's worried about consumer spending, inflation, quantitative tightening, fiscal deficits, and war. "The war in Ukraine continues, which in addition to the huge humanitarian crisis for Ukrainians, has large potential effects on geopolitics and the global economy," he added. If any of those dangers hit the US economy, it's unclear whether they would cause a "soft landing, a mild recession, or a hard recession," he added. Dimon shared similar concerns in an interview with The Economist released earlier this week, and has previously warned there are myriad threats facing the global economy.

Persons: Jamie Dimon, He's, Dimon Organizations: JPMorgan, Service, AlphaSense, Federal Reserve Locations: Wall, Silicon, JPMorgan's, Ukraine

☆ Domino's can find you wherever you are with new Google pin drop tech
▼ + stars: | 2023-06-19 | by ( Nancy Luna | ) www.businessinsider.com time to read: +4 min

Domino's is using Google Maps tech to launch Pinpoint Delivery. Domino's has seen a slowdown in its delivery business due to inflationary pressures on customers. The pizza chain, which bills itself as a tech chain that happens to sell pizza, is leveraging Google Maps technology to deliver pizzas to locations without addresses, such as parks, beaches, and baseball fields. Domino's is leveraging Google Maps tech for Pinpoint Delivery. There's no extra cost for Pinpoint Delivery, which comes as inflationary pressures have hurt Domino's delivery business.

Persons: Domino's, —, Christopher Thomas, Moore, Carl Orsbourn, Sandeep Reddy, Reddy Organizations: Google, Service, Oppenheimer, Commerce, NPD

☆ Warren Buffett swapped shares for cocoa beans in a weird 1950s deal. Billionaire Thomas Pritzker just told his father's side of the story.
▼ + stars: | 2023-05-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett traded a chocolate company's shares for cocoa beans in an unusual arbitrage in 1954. Hyatt Hotels' Thomas Pritzker is the son of Jay Pritzker, who designed the stock-for-beans program. Thomas Pritzker recently shared his father's story about meeting and helping a 24-year-old Buffett. Thomas Pritzker, Hyatt Hotels' executive chairman and the billionaire son of the man who came up with the stock-for-beans offer, told his father's side of the story during a recent shareholder meeting. "A 24-year-old kid comes up to them and says, 'I didn't understand anything you just described,'" Thomas Pritzker recalled.

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