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☆ Why one economist says Elon Musk has turned Tesla into a meme stock
▼ + stars: | 2024-05-02 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The economist thinks the firm no longer keeps up with what CEO Elon Musk promises. Musk really wants Tesla to be a tech company, but it's an automaker, DeLong said. Advertisement"For all the current Tesla shareholders planning to offload their holdings in the next couple of years, everything hinges on the company succeeding as a meme stock, and Musk is diligently working toward that goal," DeLong argued. Last month, investor Roger McNamee warned that the stock would start trading like a car company if shareholders decided that Musk wasn't central to its narrative. In a similar vein, short-seller legend Jim Chanos called Tesla a "hopes and dreams" stock, trading more on Musk than fundamentals.

Persons: J, Bradford DeLong, Elon Musk, Musk, Tesla, DeLong, —, Elon, Roger McNamee, Jim Chanos Organizations: Project Syndicate, Service, UC Berkeley, Street

For most of his 57 years on the island of Sulawesi, Jamal was accustomed to scarcity, modest expectations and a grim shortage of jobs. The factory was built by a company called PT Dragon Virtue Nickel Industry, a subsidiary of a Chinese mining giant, Jiangsu Delong Nickel. Indonesia had recently banned exports of raw nickel to attract investment into processing plants. They were eager to secure nickel for factories at home that needed the mineral to make batteries for electric vehicles. They were intent on moving the pollution involved in the nickel industry away from Chinese cities.

Persons: Jamal, Jiangsu Delong Organizations: Industry Locations: Sulawesi, Kendari, Jiangsu, Indonesia

☆ Microsoft is sprinkling OpenAI everywhere to try and keep software makers interested in its platforms
▼ + stars: | 2023-05-25 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

In this article MSFT Follow your favorite stocks CREATE FREE ACCOUNTMicrosoft Chairman and CEO Satya Nadella speaks to attendees at Microsoft's Build conference in Seattle on May 23, 2023. "Every layer of the software stack is going to be changed forever and no better place to start than the actual developer stack," Microsoft CEO Satya Nadella said during his Build keynote address on Tuesday. It's crucial for third-party developers to enrich Microsoft's own software properties, such as the Microsoft 365 productivity software bundle. Greg Brockman, OpenAI president and co-founder, and Kevin Scott, Microsoft chief technology officer, speak onstage at Microsoft's Build conference in Seattle on May 23, 2023. WATCH: Microsoft Build 2023 unveils plugins and products that incorporate A.I.

☆ Inflation is so bad people are buying pigs and chickens to save on groceries — and even holding off on getting tattoos
▼ + stars: | 2023-01-31 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Some are buying pigs for meat, and others are looking into raising chickens for cheap eggs. In Houston, people are buying and even renting chickens for their fresh eggs, according to the Houston Chronicle. The possibility of a downturn, coupled with still-high inflation, is also prompting some Americans to shake up their hairstyles. Inflation expectations fell again, although consumers don't seem to be quite sold on avoiding a recession — two-thirds still think a downturn is coming. Are you buying chickens or pigs or doing something else creative to bring down your bills?

☆ Media frenzy from Alex Murdaugh double homicide trial is disrupting weddings at event hall across the street from the courthouse, bride says
▼ + stars: | 2023-01-29 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

The Alex Murdaugh murder trial is underway at a South Carolina courthouse across the street from a wedding venue. One bride told The Daily Beast she's stressed about her wedding being so close to the trial. "I did know about the courthouse being across the street but we have never had a trial like this before," DeLong told The Daily Beast. It was more convenient due to the weather and location in town," she told The Daily Beast. "I had been super excited and now I am pretty stressed out," DeLong said, according to The Daily Beast.

☆ There's a brutal culling going on in the tech industry — here are the recent layoffs
▼ + stars: | 2023-01-21 | by ( ) www.businessinsider.com time to read: 1 min

We're barely three weeks into the new year — and tens of thousands of tech employees are already staring down the barrel of unemployment. In today's special edition, we're taking a look at Insider's recent coverage of the brutal wipeout — bringing you inside the chaos at these major firms and the upheaval across the industry. Stay tuned: We'll have more in Monday's regular edition of 10 Things in Tech — if this was forwarded to you, sign up for the newsletter here. Until then, keep up with the tech industry news by downloading Insider's app and signing up for notifications. Jemal Countess / StringerAnd across the industry:

☆ Production resumes at Indonesian nickel smelter after deadly clash
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

[1/4] Employees react amid the chaos as Chinese and Indonesian workers clash at a nickel smelter in Morowali, Sulawesi, Indonesia in this undated social media video released January 16, 2023. Revi Limbong via REUTERSJAKARTA, Jan 17 (Reuters) - Production at an Indonesian nickel smelter owned by China's Jiangsu Delong Nickel Industry resumed on Tuesday, police said, after operations were suspended due to a protest and rioting at the weekend in which two workers were killed. An Indonesian and a Chinese worker died, while vehicles and dormitories were torched during the clashes at the PT Gunbuster Nickel Industry (GNI) smelter, a unit of Jiangsu Delong, which involved protesters, workers and security guards. GNI launched the smelter, which has an annual output capacity of 1.8 million tonnes, in late 2021. There are about 11,000 Indonesian workers at GNI's plant and 1,300 foreign personnel, according to Indonesian police.

☆ Chinese and Local Workers Clash at Indonesia Nickel Smelter, Leaving Two Dead
▼ + stars: | 2023-01-16 | by ( Jon Emont | Austin Ramzy | ) www.wsj.com time to read: 1 min

A clash involving Chinese and Indonesian workers at a nickel smelter in Indonesia left two people dead and a part of the facility burned down, showing how tensions have accompanied the expansion of Chinese investment in operations to mine and process the lucrative metal in the Southeast Asian country. The violence—which broke out Saturday at the facility of PT Gunbuster Nickel Industry, a subsidiary of China’s Jiangsu Delong Nickel Industry Co.—involved the use of pipes and rocks, a police spokesman said. As the confrontation spiraled, workers set fire to mess halls, dozens of rooms and heavy machinery, said the spokesman, Didik Supranoto .

☆ Amazon is quietly streamlining its hiring process by dropping its 'Bar Raiser' program for some interviews. Employees worry it's lowering the quality of candidates getting jobs at the company.
▼ + stars: | 2023-01-11 | by ( Eugene Kim | ) www.businessinsider.com time to read: +7 min

By abandoning the bar raiser for some mostly entry-level positions, Amazon shortened the hiring process and was able to hire more aggressively. In January 2021, for example, a group of bar raisers complained about the small number of bar raisers relative to the total employee base, and the lack of engagement from many of them. Current Bar raisers are overworked and disengagedOthers expressed concerns about overwhelmed or disengaged bar raisers causing a potential drop in talent at Amazon. One person in the 2021 email thread said "Amazon's hiring bar was at stake" if the bar raisers failed to live up to company standards. Amazon's HR chief Beth Galetti said Amazon's hiring bar "keeps getting higher and higher" and that "keeps all of us growing and evolving every day."

More than 30 mutual funds launched this week, mostly equity-focused, offering vehicles for recovery bets. Yang Delong, chief economist at First Seafront Fund Management expects China's economic growth to exceed 5% this year as COVID curbs are scrapped. Cao Ludi, fund manager at Fullgoal Fund Management, predicts an "N-shaped" economic recovery, as an expected Spring revival in activity will likely succumb to a harsh reality check in the second quarter. She advised against chasing the high-flying real estate and tourism stocks, as their "fundamentals remain a question mark." This should mean economic recovery by the second quarter, if not earlier."

☆ 5 former Amazon managers tell us what they loved about the company — and what they were glad to leave behind
▼ + stars: | 2022-11-16 | by ( Diamond Naga Siu | Katie Malone | ) www.businessinsider.com time to read: +11 min

Many other leaders do the same, the former Amazon leader said. the current Microsoft employee said. For instance, Microsoft gets the whole company together to do activities and donate to causes they like, which Amazon doesn't do, the current Microsoft employee said. Malte Mueller/Getty ImagesDrive for excellence, with burnoutBeyond teaching its own leadership tenets, Amazon isn't big on manager training, one of the current Google employees said. Without proper institutional support, constantly operating at such a high level can lead Amazon employees to burnout, a former Amazon leader who now works at Google said.

☆ Amazon's job cut plans show that tech isn't out of the woods just yet
▼ + stars: | 2022-11-15 | by ( Matt Weinberger | ) www.businessinsider.com time to read: +6 min

Indeed, as Insider reported last week, Mark Zuckerberg isn't ruling out the possibility of more layoffs at Meta. Amazon CEO Andy Jassy Dan DeLong/GeekWire1. Meta CEO Mark Zuckerberg Photo by Liu Jie/Xinhua via Getty2. The tech titans are known for paying the big bucks, but that's not the only way to make it in tech. Tech leaders like Ancestry CEO Deb Liu and Scale AI CEO Lucy Guo will appear on stage.

☆ Amidst the layoffs at Amazon, the company's ultra-secretive research lab is at risk of being shut. It's a sign things are changing 'dramatically' at the company.
▼ + stars: | 2022-11-14 | by ( Eugene Kim | ) www.businessinsider.com time to read: +14 min

Early last month, members of Amazon's secretive in-house research lab, Grand Challenge, were called into an unexpected video meeting. Weibel announced 3 of the 5 projects Grand Challenge was working on would shut down, effective immediately. When other team employees wanted to collaborate with the team, they needed additional approvals from its leadership. Amazon Glow was among the Grand Challenge projects to be discontinued at the end of this year. Getting support promoting Grand Challenge projects was a challenge too.

☆ You may experience a 'mysterious disappearance’ on Halloween — and insurance probably won't pay for it
▼ + stars: | 2022-10-31 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Renters and homeowners insurance claims related to a "mysterious disappearance" increased by 5% on Halloween and 3% on Mischief Night, which is the night before Halloween, according to Travelers Insurance claims data from 2011 to 2021. Some have clauses that explicitly deny payment in cases of such a "mysterious disappearance." Why 'named perils' matter in insurance coverageHowever, you're not necessarily in the clear just because your policy doesn't explicitly omit a "mysterious disappearance." When it comes to personal property, insurance generally only covers renters and homeowners for a "named peril," Griffin said. So-called all-risk policies or open perils policies, by contrast, cover any event the policy doesn't specifically exclude.

☆ After 28 years, 'Day 2' finally arrives at Amazon
▼ + stars: | 2022-08-24 | by ( Eugene Kim | ) www.businessinsider.com time to read: +11 min

Amazon is known for "Day 1" culture, maintaining a nimble mindset found on a startup's first day. This is a big challenge facing Amazon CEO Andy Jassy, who replaced founder Jeff Bezos last year. On May 26, Amazon retail CEO Dave Clark held a fireside chat with employees at an internal event called Fishbowl. But 28 years on, Day 2 has finally arrived, according to more than a dozen current and former Amazon employees who cited problems including a stodgy engineering culture, extra management layers, and rising red tape. "Historically Amazon was one of the best places for builders, but now when people want to build, they leave Amazon," this person said.

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