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While it was a delicious deal for customers, it was terrible for the company: Red Lobster lost $3.3 million in seven weeks. The deal was once again too popular, and Red Lobster was unprepared for its customers’ insatiable lust for discounted shellfish. Red Lobster is now reportedly considering filing for bankruptcy protection to restructure its debt and shed some of its 650 US locations. Red Lobster stallsBut Red Lobster fell behind its sister brand Olive Garden under Darden. In 2021 and 2022, Red Lobster brought on a new CEO, chief marketing officer, chief financial officer and chief information officer.
Persons: Lobster, , , John Gordon, Michael Nagle, Alex Susskind, General Mills, Bill Darden, Charley Woodsby, Darden, ” Woodsby, Jonathan Maze, Betty Crocker, Red, Glen Martin, Mills, ” Joe Lee, Olive, Red Lobster’s, “ Darden, ” Les Foreman, Justin Sullivan, they’ve, Les Foreman, Thiraphong Chansiri, ” “, ” Chansiri Organizations: New, New York CNN, Lobster, Thai Union, Bloomberg, Getty, Red Lobster, CNN, Cornell University, Baby Boomers, General, Howard, Restaurant Business, Darden, Denver Post, Harvard Business School, Longhorn, Darden Restaurants, Gate, , Thai, , ” Thai Locations: New York, United States, Bangkok, Thai, underinvestment, Lakeland , Florida, Orlando, America, Olive, Sale, Thai Union, Thailand
Influencer marketing is booming, and brands spend billions to promote products with a personal touch. But these days, the industry of influencer marketing is completely off the rails. Since 2016, the dollars driving the influencer marketing industry have ballooned from $1.6 billion a year to an estimated $21.1 billion in 2023, according to Influencer Marketing Hub. Marketers, brands, influencers, and platform companies all have opportunities to exploit one another to varying degrees of harm." It's not great for consumersDespite the money flying around, the FTC only provides basic guidelines about disclosure requirements for influencer marketing to protect consumers of their content.
Persons: , Emily Hund, Hund, David Camp, Michael Jordan, George Foreman, Brooke Shields, Calvin Klein, isn't, It's, Kim Kardashian, influencer Chiara Ferragni, Lindsay Lohan, DJ Khaled, Naomi Campbell, Kardashian, Dylan Mulvaney, Bud Light, Ben Shapiro, Donald Trump Jr, Camp Organizations: Service, Business, Social Media, Harvard Business, CBS News, Nike, Salton, FTC, SEC, Consumer, NBC Locations: influencers, California
Michael C. Jensen, an economist and Harvard Business School professor whose evangelizing for stock options, golden parachutes and leveraged buyouts helped to reshape modern capitalism and empower Wall Street’s greed-is-good era, died on April 4 at his home in Sarasota, Fla. The death was confirmed by his daughter Natalie Jensen-Noll. “Mike was a kind of born proselytizer,” Eugene F. Fama, a University of Chicago professor and Nobel laureate in economics who collaborated with Professor Jensen, said in an interview. “He was very sure of himself in terms of his ideas being correct and, you know, pathbreaking.”They were also incendiary. In his book “The Golden Passport: Harvard Business School, the Limits of Capitalism, and the Moral Failure of the MBA Elite” (2017), the journalist Duff McDonald called Professor Jensen an “instrument of intellectual violence” who “created a Frankenstein that no one knows how to kill.”
Persons: Michael C, Jensen, Natalie Jensen, Noll, Werner Erhard, Jensen’s, Mike, proselytizer, ” Eugene F, Fama, Professor Jensen, , , Duff McDonald Organizations: Harvard Business School, University of Chicago Locations: Sarasota , Fla
A Harvard Business School professor was asked to break down Jeff Bezos' leadership style on a recent podcast. But good leadership also requires empathy, an area where Bezos is seemingly lacking, Gupta said. His inventiveness, fearlessness, and focus have all played a key role in Amazon's growth, said Sunil Gupta, a Harvard Business School professor who has studied Bezos for years. Gupta broke down how Bezos's character has helped Amazon grow on a recent episode of Harvard Business Review's "On Strategy" podcast. Amazon workers rally in support of unionization efforts, March 2021.
Persons: Jeff Bezos, Sunil Gupta, Gupta, , he's, He's, FREDERIC J . BROWN, Bezos Organizations: Harvard Business School, Service, Harvard Business, Harvard, Nomad Ventures, Inc, Getty, Amazon, Washington Post, Gallup
Before there was Elon Musk, there was William Crapo Durant. It’s highly unlikely that Musk, one of the world’s richest people, will die penniless, but in other respects he and Durant have a lot in common. One thing I found out is that the world is not always kind to visionaries with self-control issues. Durant flamed out at G.M. In contrast, the prudent organization man who eventually succeeded him, Alfred Sloan, went from success to success.
Persons: Elon Musk, William Crapo Durant, Billy Durant, Durant, It’s, Durant flamed, Alfred Sloan, , Steve Blank Organizations: General Motors, Chevrolet, Durant Motors, Tesla, Harvard, Stanford Locations: G.M
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewCompared to some of its Tiger Cub peers, $48 billion Viking Global's highs and lows have been more muted. This story is available exclusively to Business Insider subscribers. "If the stock went up 25% tomorrow, we would probably sell it absent any other fundamental change in the business." AdvertisementThe firm's flagship long-short fund was up 5.8% in the first quarter, a person close to the firm told Business Insider, and its long-only fund returned 10.1%.
Persons: , Justin Walsh, Walsh, Hermes Organizations: Service, Tiger Cub, Tiger, Business, Harvard Business School Investment, Citadel, Business Insider, Cartier Locations: Stamford, Swiss
Read previewArtificial intelligence is redefining what it takes to be a software engineer on Wall Street. A typical software developer holds a computer science degree. Goldman Sachs' chief information officer, Marco Argenti, recently encouraged his daughter, a college student, to concentrate her education on philosophy if she wants to pursue a career in engineering. AdvertisementZafar said he's paying more attention to people with "a computer science degree and an English minor," or "a psychology major and a computer science minor." Advertisement"That software engineer might get replaced by a sort of prompt engineer," Vyas said.
Persons: , Goldman Sachs, Marco Argenti, Argenti, he's, it's, Citi's, Shadman Zafar, Zafar, Jensen Huang, Ken Griffin, Deepali Vyas, Korn, Vyas Organizations: Service, Wall, Business, Harvard, Amazon Web Services, Nvidia, World, Citadel Locations: Dubai
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. As the billionaire Baupost founder told an audience at a Harvard Business School event Monday morning, he has yet to find the value in crypto. But he's buying the hype of artificial intelligence — or at least the impact the technology could have on society. This story is available exclusively to Business Insider subscribers. "So we are in unprecedented territory that may involve some opportunities for investors, that maybe dips really are buying opportunities.
Persons: , Seth Klarman isn't, Klarman, we're, Annabel Ware, hasn't, they'll Organizations: Service, Harvard Business, Business Locations: Europe, Asia
The best companies to work for include big names in tech, health care and financial services, according to new research from LinkedIn. On Tuesday, the networking platform released its annual Top Companies list identifying the 50 best places in the U.S. for professionals to grow their careers. JP Morgan Chase & Co. claimed the No.1 spot, with other recognizable names like Verizon, Amazon and Wells Fargo rounding out the top 10. LinkedIn published two lists as part of its report: one for midsize companies with at least 250 employees and another for large companies with 5,000 employees or more. Citi, which ranked 14th on LinkedIn's list last year, was not eligible for this year's list after announcing it was eliminating approximately 10% of its workforce in January 2024.
Persons: JP Morgan Chase, Morgan Chase, Andrew Seaman, Seaman Organizations: LinkedIn, Companies, Verizon, Amazon, Amazon Wells, Deloitte PwC UnitedHealth, Alphabet Inc, Citi, UnitedHealth, Moderna, Visa, American Express, Procter & Gamble, Harvard Business School, CNBC Locations: U.S
It is therefore no surprise that the advent of big data, data analytics, and disruptive technologies such as generative AI have brought in sweeping changes and opportunities to reinvent critical business areas. When customers trust a business, it empowers the organization to pioneer groundbreaking initiatives, embracing risk to craft new products and refine existing ones. While the balance between trust and innovation emerges as a critical lever for progress, the role of transparency in cultivating and maintaining this trust cannot be overstated. Earned, not givenAs we recognize transparency's pivotal role in building trust, it becomes clear that trust in the digital age is earned, not given. Safeguarding consumer trust in an era increasingly dominated by sophisticated algorithms and artificial intelligence is more critical than ever.
Persons: Matthew Driver, we've Organizations: Services, Asia, Mastercard, Trust, Harvard, Mastercard Singapore, Insider Studios Locations: Asia Pacific
New York CNN —The Anti-Defamation League has graded 85 American universities for their policies to protect Jewish students from antisemitism on campus. The ADL said antisemitic incidents on campus have reached historic levels, leaving Jewish students feeling unsafe. The dozen schools that received failing grades from the ADL include Harvard, MIT, Stanford, University of Chicago, Princeton, University of Virginia, Tufts, Michigan State University, University of Massachusetts Amherst, SUNY Purchase, SUNY Rockland, and Swarthmore. Harvard remains under federal investigation for potential Title VI violations, and several Jewish students have sued Harvard for failing to protect them from antisemitism. “Like all students, Jewish students deserve to feel safe and supported on campus.”Hamas’ October 7, 2023, attack on Israel left 1,200 dead, and hundreds of Israelis were taken hostage.
Persons: , I’m, Jonathan Greenblatt, Israel, Claudine Gay, Gay, Rabbi David Wolpe, Alan Garber, Raffaella Sadun, Derek Penslar, Larry Summers, Sadun, University of Pennsylvania –, Brandeis, Justice Louis Brandeis, Greenblatt Organizations: New, New York CNN, Defamation, Harvard, ADL, , Civil, Education Department, University of Pennsylvania, Cornell University and Stanford, MIT, Stanford, University of Chicago, University of Virginia, Tufts , Michigan State University , University of Massachusetts, SUNY, Swarthmore . Harvard, Harvard Faculty, Staff, Justice, Harvard Undergraduate Palestine Solidarity Committee, American Resistance Organization, Education, Harvard’s Divinity School, Harvard Business School, Columbia, Rutgers, Brandeis, Elon, Students for Justice, Foundation, Combat, Elon University Locations: New York, United States, Israel, Princeton, Tufts ,, Tufts , Michigan State University , University of Massachusetts Amherst, SUNY Rockland, Palestine, , Gaza
The first obstacle is overcommitting, Martin said. Related stories"So I think we all fall into that trap sometimes, and it's important to realize that that's not always going to set you up for the best output," Martin told HBR. AdvertisementTo overcome overcommitting, Martin told HBR that identifying your top three priorities daily, weekly, and monthly can be helpful. AdvertisementMartin told HBR that once people become more intentional with their time, they should use it wisely to address projects or tasks. She later gave tips on how people can approach emails, meetings, and other day-to-day office tasks while reaching peak productivity.
Persons: , Laura Mae Martin, Harvard Business Review's, Martin, that's, HBR, overcommitting Organizations: Service, Harvard Business, Business, BI
Batbold Sukhbaatar of Mongolia addresses the Millennium Development Goals Summit at the United Nations headquarters in New York, September 22, 2010. Federal prosecutors on Tuesday sued to seize two New York City apartments worth $14 million that were allegedly bought with proceeds from a corrupt scheme involving Mongolia's huge copper mine, a former prime minister of that nation, and his Harvard Business School graduate son. Batbold served as prime minister from 2009 through 2012. Batbold's son, Battushig Batbold, a Harvard Business School graduate, is a member of the International Olympic Committee. Battushig Batbold also worked as a summer associate at Blackstone in 2014, and as a mining analyst at Morgan Stanley from 2009 through 2011, according to his LinkedIn page.
Persons: Batbold, Sukhbaatar Batbold, Battushig, Batbold's, Battushig Batbold, Morgan Stanley Organizations: United Nations, New, Harvard Business School, Erdenet Mining, Ocean Partners, Erdernet Mining, International Olympic, Blackstone Locations: Mongolia, New York, New York City, U.S, Brooklyn, Mongolian, Batbold, Manhattan, United States
A toxicology report later showed that Chao had a blood-alcohol concentration of .233, the Blanco County Sheriff's Office said in its report. Chao drowned after friends and rescue workers tried without success to get the 50-year-old shipping executive out of the submerged vehicle. "Chao, who is still on the phone with Keinan, tells Keinan in a [calm] voice her feet are under water," the report said. "Chao told Keinan the water was rising and she was going to die, and said, 'I love you' to Keinan prior to the vehicle going under water." Both deputies entered the pond and tried repeatedly to locate Chao through the back door, "but were unable to," the report said.
Persons: Angela Chao, Pitbull, Chao, Mitch McConnell, Elaine Chao, Tesla, Jim Breyer, Breyer, Amber Landeau, Kienan, Keinan, Victoria Garcia, Victoria, Heela Yang Tsuzuki, One, James Chao, Bruce Wasserstein Organizations: U.S . Labor, Transportation, Blanco County Sheriff's, Ninth, Academy Museum of Motion Pictures, Harvard Business School, Rescue, Texas Rangers, FBI, Blanco County Sheriff's Office, American Bureau of Shipping Council, Harvard Business School's, Dean's Advisors, Metropolitan Opera, National Basketball, Boston Celtics, Facebook, Walmart, Marvel Entertainment, News Corp, Dell Locations: Los, Beverly Hills, Los Angeles , California, Johnson City, Austin, Ky, Texas, Blanco County, New York, Dubai
The wrong way to use AI for your resumeIn my experience, most job seekers using ChatGPT or other AI platforms begin with a prompt like "Generate a marketing resume." As in, I've never met a marketer in my two-decade career who did all of these things in one job. The right way to use AI for your resumeOK, you get the picture: Having AI generate your resume from scratch can be a fast track to rejection. Enter the following prompt: Which keywords from the below job description are missing from my resume? Zoom In Icon Arrows pointing outwards3.
Persons: ChatGPT, who's, That's, I've, you've Organizations: Khan Academy, CUNY, MBAs, Harvard Business School
With its recent Starship mission, SpaceX is poised to cut launch costs 10-fold, said an expertThe firm flew its flagship mega-rocket to space without exploding on Thursday for the first time. AdvertisementSpaceX's Starship launch on Thursday didn't only look cool. SpaceX has already shaved launch costs downStarship-Super Heavy is the biggest launch system ever developed. AdvertisementA picture shows Starship fully stacked on its launchpad. "Lowering launch costs has always been the first step to unlocking broader, deeper sources of value from space," he said.
Persons: , Elon, Brendan Rosseau, Abhi Tripathi, Elon Musk, Starship's, George Nield, Harvard's Rosseau, Tripathi Organizations: SpaceX, Service, Harvard Business School, Super, Mission, University of California, Space Sciences Laboratory, Space Shuttle, Space Transportation
Tracy Britt Cool has been busy acquiring midsized companies — ones too small for her old boss Warren Buffett at Berkshire Hathaway — and now she wants to build a close-knit community for these smaller businesses. Unlike the Berkshire CEO's laissez-faire approach to managing his companies, however, Cool is more hands-on, guiding company leaders through hiring and developing strategies. "We want to be the trusted home for midsized companies," Cool said in an interview. Buffett influence Cool famously got a job working for Buffett as his financial assistant by sending the "Oracle of Omaha" a letter after graduating Harvard Business School. Cool declined to comment on her relationship with Buffett or her experience at Berkshire.
Persons: Tracy Britt Cool, Warren Buffett, Berkshire Hathaway —, Buffett, Charlotte, Kanbrick, Brian Humphrey, Cool, Kanbrick hasn't, Benjamin Moore, it's Organizations: Berkshire Hathaway, Elite, Cool, Harvard Business School, Oriental Trading Company, Systems Locations: Berkshire, Nashville, Kansas, Omaha, Pennsylvania
But often, bosses look for something more subtle, says Harvard Business School executive fellow Bill George. In other words, CEOs and other leaders may want to see you guiding and inspiring the rest of your team. Great employees — the ones managers tend to see as worth promoting — don't just boss their co-workers around. They excel at building trust with the people around them, which requires a certain amount of self-awareness to achieve, George says. "Many people do not know who they are," George wrote in his book, "True North: Emerging Leader Edition," which published in 2022.
Persons: Bill George, George, Organizations: Harvard Business School
Many gig drivers lured by the flexibility of gig work say the flexibility of their job is often limited. AdvertisementMany drivers for Uber, Lyft, and other rideshare and delivery apps say they value the flexibility of gig work over any other component. AdvertisementMany part-time drivers have previously told BI they value gig driving for the ease with which they could supplement their core income. Some drivers told her they would work 16-hour overnight shifts on weekends to find higher-paying, better-tipped rides. "Uber and its peers appeal to workers with oodles of promises that workers can hold the power to control their work hours.
Persons: , Uber, Sergio Avedian, Guy, Avedian, Lyft, Uber hasn't, Lindsey Cameron, Cameron, you've, Laura Katsnelson, Felix Oberholzer, Gee, Katsnelson, Katie Wells, Wells Organizations: Uber, Service, Business, Wharton School, Unit, Harvard Business School, Workers, Georgetown University Locations: Jacksonville , Florida, Los Angeles
Huang, who oversees 50 direct reports, said that "by definition," CEOs should have the most direct reports of anyone at a company. And taking on more direct reports could help CEOs level the playing field, too. And while Huang manages more people than other big-name CEOs (Amazon CEO Andy Jassy has 16 direct reports), Nvidia has close to 30,000 employees, according to a company report from 2023. While Huang might be an outlier (and overachiever) as a manager, the number of direct reports CEOs are taking on is on the rise. CEOs' direct reports doubled from five in the mid-1980s to close to 10 in the mid-2000s, according to the Harvard Business Review.
Persons: , Jensen Huang, doesn't, . Huang, Huang, chipmaker, Andy Jassy, Hal Gregersen Organizations: Service, Stanford's Graduate School of Business, Business, Nvidia, Harvard Business, MIT Leadership Center Locations: .
New York CNN —For decades, not having a college degree has often been a barrier for workers seeking a higher-level, better-paying job. That means the lack of college degrees can’t be ignored, since Blacks and Hispanics are least likely to have a bachelor’s degree. “[D]espite the limited progress to date, our analysis shows that, for those who embrace it, skills-based hiring … yields tangible, measurable value. Skills-based hiring boosts retention among non-degreed workers hired into roles that formerly asked for degrees,” they said. The tool is aimed at lower-wage workers without college degrees.
Persons: Joe Biden, Ken Frazier, , George Floyd’s, Frazier, Debbie Dyson, Keith Wardrip Organizations: New, New York CNN, Census Bureau, , Merck, Blacks, MIT, Accenture, Yum ! Brands, Harvard Business School, Glass Institute, Directionally, Federal, Occupational Mobility, Philadelphia Fed, Federal Reserve Bank of Philadelphia Locations: New York, America, workforces, Philadelphia, Cleveland, Cincinnati
They were gathered for the inaugural summit of The Juggernaut, a digital South Asian news startup that launched in 2019. The Juggernaut spokesperson told BI that "multiple employees have equity in the company," but BI was unable to identify any such employees. "Twenty years ago, you might've struggled to mention a South Asian actor that you've seen in a movie," he said. As of January, the site had about 10,500 subscribers, Sur told investors in an email viewed by BI. Some feel that the publication has strayed from its mission of delivering "untold, smart South Asian stories and news you won't find anywhere else."
Persons: , Richa Moorjani, Manish Chandra, Anish Melwani, Sadiq Khan, Amitav Ghosh, Roy Rochlin, Jay Bhattacharya, didn't, Sur, Padma Lakshmi, Moorjani, Mira Nair, Oprah Winfrey, she'd, who've, Josh Benson, Bhattacharya, might've, you've, Dev Patel, Priyanka Chopra, Black millennials, Bhattacharya's, Adam Hansmann, Kevin Lin, Albert Ni, Charles Hudson, Steve Jennings, Sur's, Kyle Stanford, Axios, Stanford, Snigdha, Winfrey, MICHAEL TRAN, hadn't, wouldn't, Fariha Róisín, Meghna Rao, Róisín, Rao, Rao didn't, they'd, she's, it's, Hudson, who'd, Reetu Gupta, Aditi Shah, Sean Gupta, Steven Simione, would've, we're, Brian Morrissey, Morrissey, cofounders, Narendra Modi's, Sneha Mehta Organizations: Spring Studios, Netflix, Business, New Yorker, Harvard Business School, Guardian, American, Old Town Media, Athletic, BI, Indian, Yale, McKinsey, Precursor Ventures, Forbes, Getty, TechCrunch, YouTube's Sustainability, YouTube, Paramount Pictures Studios, Immigration Services, Stanford, Digiday, Gannett Locations: York City, chai, Jean's, hasn't, Sur, New York City, South, Asian, India, Madhya Pradesh, Queens, Sur texted, Indian American, AFP, Róisín, Los Angeles , California, South Asia, Silicon
A general view of the Baker Library/Bloomberg Center on February 17, 2024, at Harvard Business School in Allston, MA. A Harvard Business School graduate tricked his fellow alumni and associates into investing at least $2.9 million in a Ponzi scheme he ran, New York Attorney General Letitia James said Thursday. Artamonov allegedly lured at least 29 investors into the scheme, most of whom he met through his connections to the elite college, the attorney general said. "Vladimir Artamonov used his alumnus status from Harvard Business School to prey on his classmates and others while seeming legitimate and dependable. Harvard Business School did not immediately respond to a request for comment.
Persons: Letitia James, James, Vladimir Artamonov, Berkshire Hathaway, Artamonov, Artamonov's, fraudsters Organizations: Baker Library, Bloomberg Center, Harvard Business School, New York, Finance Locations: Allston , MA, Berkshire, Manhattan
Craft your questions to hit these three notesNearly any question can be remade into a deep question. The key is understanding three characteristics: A deep question asks about someone's values, beliefs, judgments, or experiences — rather than just facts. One forthcoming study found a simple approach to generating deep questions: Before speaking, imagine you're talking to a close friend. A deep question asks people to talk about how they feel. But studies show people are nearly always happy to have been asked, and to have answered, a deep question.
Persons: you've, You've, , Nicholas Epley, Epley, Michael Yeomans, Charles Duhigg Organizations: University of Chicago, Harvard, Yorker, The New York Times, Yale, Harvard Business School, CNBC
Employers are increasingly saying you don't need a college degree to get hired, but secretly, you still kind of do. During the same period, the share of job postings asking for a college degree or higher fell to 17.8% from 20.4%. In 2023, The New York Times' editorial board applauded various efforts in the public and private sectors to ax degree requirements for jobs. Having inflated degree requirements perpetuates the cycle of inequities in the workforce." A move toward skills-based hiring is a good thing socially, economically, and practically.
Persons: George Floyd's, didn't, It's, Matt Sigelman, Cory Stahle, would've, you've Organizations: aren't, The New York Times, Carlton, Harvard Business School, Glass, Apple, Walmart, ExxonMobil, Glass Institute, Employers
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