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☆ How one rising Miami VC raised more money for his first fund. Other emerging investors haven't been so lucky.
▼ + stars: | 2024-05-16 | by ( Vishal Persaud | ) www.businessinsider.com time to read: +7 min

Evans is the founder of Exceptional Capital, which launched in 2022 among the many emerging VC firms that sprouted during the fundraising boom years. Before pursuing a life in venture capital and tech, Evans hoped to make it to the NFL as a linebacker at the University of Michigan. And then in 2022, Evans decided to launch Exceptional Capital and invest as a solo VC. Exceptional CapitalBecause he's been able to increase the size of his fund, Evans has been able to expand his team. "I could see that for Marell as well, just his work with Exceptional Capital and kind of his determination there."

Persons: —, Marell Evans, Evans, he's, Dave Brandon, Brandon, Ben Horowitz, Andreessen Horowitz, Horowitz, A16z, Okta, Owen Van Natta, Hustling, Melissa Morano Aurigemma, Graham Stoddard, Andrew Van Nest, I've, Cody Coleman, Coleman, what's Organizations: Service, Exceptional, Business, NFL, University of Michigan, NCAA, IBM, Facebook, Vision, SV Angel, A16z, Exceptional Capital Locations: Miami, Michigan, San Francisco, Okta, Silicon Valley, SoftBank, —, Bessemer

☆ Chuck Schumer and bipartisan group of senators unveil plan to control AI – while investing billions of dollars in it
▼ + stars: | 2024-05-15 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

It also instructs multiple Senate committees to come up with guardrails for AI to address some of its biggest risks, such as AI-enabled discrimination, job displacement and election interference. “Harnessing the potential of AI demands an all-hands-on-deck approach and that’s exactly what our bipartisan AI working group has been leading,” Schumer said Wednesday. “This roadmap represents the most comprehensive and impactful bipartisan recommendations on artificial intelligence ever issued by the legislative branch,” Young said Wednesday. Schumer has described regulating artificial intelligence as a challenge for Congress unlike any other, vowing a swift timeline measured in months, not years. But policy analysts, and some congressional aides, doubt whether Congress can pass significant legislation regulating AI in an election year.

Persons: Chuck Schumer, Schumer, ” Schumer, New Mexico Democratic Sen, Martin Heinrich, Republican Sens, Mike Rounds, Todd Young, ” Young, ” Organizations: CNN, European Union, National Security, Artificial Intelligence, New, New Mexico Democratic, Republican, South, Todd Young of Indiana, EU Locations: New York, New Mexico, South Dakota

☆ I was accepted to Yale. Here's everything I included in my successful Ivy League application.
▼ + stars: | 2024-05-15 | by ( Brian Zhang | ) www.businessinsider.com time to read: +6 min

Read previewI recently reviewed my Yale admissions file after being a student there for three years. I believe that everyone's college application journey is unique and that mine is just one sample, but I equally understand the urge to hear about other people's experiences. So, I'm now sharing a deeper look into my college application. I tried to highlight my passions in my extracurricularsThe author's college application. I wanted to capture who I truly am in my college essayThe author's college essay.

Persons: —, I'm, Brian Zhang, Brian, genuineness Organizations: Service, Yale, YouTube, Business, Dartmouth, Colleges, Ivy League Locations: Sunset Park , Brooklyn, Brooklyn

☆ Why Biden Is Putting Tariffs on Chinese Imports - The New York Times
▼ + stars: | 2024-05-14 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

His signature legislative achievement, the Inflation Reduction Act — which is actually mainly about fighting climate change — contains several nationalistic provisions designed to limit subsidies primarily to manufactured goods produced in North America. And the Biden administration is now imposing tariffs as high as 100 percent on Chinese exports of electric vehicles and taxes on other imported goods, including semiconductors and batteries. The immediate impact of these tariffs will be small, because the United States currently imports very few of the affected goods from China. They’re a shot across the bow — a signal that the United States won’t accept a second so-called China shock, a surge of imports that could undermine crucial parts of the administration’s agenda. China’s exports of manufactured goods to the United States surged beginning in the 1990s.

Persons: Donald Trump, Biden, weren’t Locations: U.S, North America, United States, China, United

☆ Why are luxury brands waging war on the ‘upcycled’ clothing market?
▼ + stars: | 2024-05-13 | by ( Sarah Kent | ) edition.cnn.com time to read: +10 min

Editor’s Note: This article was originally published by The Business of Fashion, an editorial partner of CNN Style. The design was upcycled from vintage Chanel scarves by stylist Logan Horne, whose brand, J. Logan Home, specializes in refashioning heritage luxury accessories. Fashion brands' legal claims are varied but ultimately boil down to concerns that third parties are free-riding on brands’ valuable IP in ways that could risk confusing consumers, eroding primary sales and tarnishing or diluting carefully cultivated marks. Some big brands, like Prada, Gucci and indeed Levi’s, have already dabbled with upcycling collections and programs of their own. These days, she says she’s having about a conversation a week with brands interested in exploring collaboration, but the industry moves slowly.

Persons: Travis Kelce, Logan Horne, Logan, Webster, They’ve, Chanel, Horne, ”, Susan Scafidi, J, Logan Home’s, Christian Vierig, Louis Vuitton, Levi’s, Jeremy Moeller, Irene Calboli, ” Chanel, des, Batsheva Hay, Monica Schipper, “, Hay, upcycling, I’m, Prada, Gucci, Anna Foster, Gabriela Hearst Organizations: The, Fashion, CNN, NFL, Dua, Law, Paris Fashion, Business of, “, Getty, Logan Home, Texas, M University, Fashion Trust, Business of Fashion, Industry Locations: New York, Texas, Beverly Hills , California, India, Europe

☆ Gen Z students lead pro-Palestine demonstrations while their Boomer professors see parallels to past protest eras
▼ + stars: | 2024-05-12 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +9 min

At Indiana University, protesters say they've been met with a militarized response from police. AdvertisementOn April 25, a day after Indiana University made a controversial change to its protest policies, students built an encampment on the school's Dunn Meadow. Isabella Volmert/AP PhotoShe joined the campus protests on April 25 alongside her husband, an IU staff member. From Vietnam to the Israel-Hamas WarWhen Dunn Meadow was established in 1969, official university policy dictated that overnight encampments were not allowed. AdvertisementThe Indiana University Police Department did not immediately respond to a request for comment from BI.

Persons: they've, —, Dunn, Pamela Whitten, Whitten, Barbara Dennis, Isabella Volmert, Dennis, Jia Wu, haven't, Z Bryce Greene, Greene, Jeremy Hogan Organizations: Indiana University, Service, Business, Indiana University's School of Education, Occupy, IU, New York Times, Columbia, City College of New, Hamilton Hall, Columbia University, Getty, College, Kent State University, Ohio National Guard, Indiana University Police Department, Palestine Solidarity Committee, Naval Surface Warfare, University, Indiana University's, Faculty, UNICEF Locations: Israel, Vietnam, Gaza, Dunn, Iraq, City College of New York, New York City, AFP, Kent, Palestine, Crane , Indiana, Indiana

☆ Social Security Administration to expand access to certain benefits through several upcoming changes
▼ + stars: | 2024-05-10 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

Kate_sept2004 | E+ | Getty ImagesUpdates to definition of public-assistance householdThe agency on Thursday announced a new rule to expand the definition of a public-assistance household. Now, households that receive Supplemental Nutrition Assistance Program, or SNAP, payments and those where not all members receive public assistance will be included. "By simplifying our policies and including an additional program geared towards low-income families, such as the SNAP, we are removing significant barriers to accessing SSI," Social Security Commissioner Martin O'Malley said in a statement. SNAP is the first public income maintenance benefit to be added to the public-assistance household definition since 1980, according to the Social Security Administration. Other rule changes to help beneficiariesThe Social Security Administration is also working to address outdated practices through two other rules that are set to go into effect on Sept. 30.

Persons: Martin O'Malley, Darcy Milburn, Milburn, Brown Organizations: Assistance, SNAP, SSI, Social Security Administration, Social, Social Security, National Disability Institute, SSA

☆ Jim Simons, billionaire hedge fund founder, dies at 86
▼ + stars: | 2024-05-10 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —Jim Simons, the billionaire investor, mathematician and philanthropist, died on Friday in New York City, according to his foundation, the Simons Foundation. According to his foundation, Simons was fired from the institute in 1968 due to his opposition to the Vietnam War. Simons then joined the faculty at Stony Brook University as the head of the school’s mathematics department. Last year, Simons’ foundation donated $500 million to Stony Brook’s endowment, the largest unrestricted gift to an American university in history, according to the Simons Foundation. “I joined Stony Brook University in 1968 as chair of their Department of Mathematics,” Simons said at the time.

Persons: Jim Simons, Simons, ” Simons, “, ” Organizations: CNN, Simons, Technologies, Massachusetts Institute of Technology, University of California, MIT, Harvard University, Institute for Defense, National Security Agency, Stony Brook University, Renaissance Technologies, Simons Foundation, of Mathematics Locations: New York City, Newton , Massachusetts, Berkeley, Princeton , New Jersey, Vietnam, American

☆ Inside Balyasny's summer internship, where how you accept feedback can make or break your chance of a full-time offer
▼ + stars: | 2024-05-09 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +8 min

That goes for summer interns, too, and may be especially important for them considering the bar to entry is high at Balyasny. The firm said it usually converts about 50% of its top-performing summer interns into full-time hires. AdvertisementThe hedge fund also has a formal feedback process where interns get a progress report about halfway through the summer, and again at the end. Anna Gietl, intern summer of 2022 BalyasnyDon't just hear feedback — implement itBalyasny's culture is about more than accepting feedback or seeking it out. Feedback can also be a catalyst to help build connections and solicit mentorship from people outside your team, Gietl added.

Persons: Hannah Dinardo, Dinardo, San Francisco —, execs, Dmitry Balyasny, Brendan McDermid, aren't, it's, Andrew McHugh, Anna Gietl, Gietl, —, I've, Balyasny, It's, McHugh Organizations: Service, Business, BAM, Balyasny Asset Management Locations: York, New York, Chicago, Austin, Houston, San, London , Hong Kong, Singapore

☆ 'Intellectual influencers' will soon be taking over your social-media feeds
▼ + stars: | 2024-05-08 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +7 min

Audiences are favoring authentic and knowledgeable content creators over follower count. It's the "intellectual influencers," or "thought leaders," who are likely to thrive. AdvertisementNya Étienne, who is a journalist and TikTok content creator, refers to this concept as the rise of "the intellectual influencer." People want 'edutainment'This new breed of influencer could outlast all the rest and may soon be dominating social media feeds. AdvertisementBack when posting on social media was novel, the audience of an aspiring content creator would grow exponentially simply because they were entertaining to watch.

Persons: —, Nya, Katya Varbanova, Varbanova, who's, Dubuisson, Keith Lee, Kaye Putnam, Putnam, they're Organizations: Service, YouTube, Matter Communications Locations: Bazaarvoice, Boston

☆ Disney just had its worst day in a year and a half
▼ + stars: | 2024-05-07 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —Disney managed a rare feat for a legacy media company: Its streaming service actually turned a profit — with some caveats. It was Disney’s worst stock trading day in 18 months. That’s a lot of money, but it is a pretty huge improvement over the $659 million loss the collective streaming business reported in the same period a year ago. Streaming is new(ish) and very different beast from the traditional cable TV model Disney and other media giants like Paramount, Viacom and Warner Bros. “It is a very tough business,” Verna said.

Persons: CNN Business ’, New York CNN — Disney, ” Paul Verna, ” Disney, ” Verna, Bob Iger, It’s, ” “ Indiana Jones, ”, Iger, Brian Mulberry Organizations: CNN Business, New York CNN, Disney, ESPN, Apple, Netflix, Paramount, Viacom, Warner Bros ., Zacks Investment Management Locations: New York, “, India

☆ Biden’s antisemitism speech leaves no doubt he’s standing by Israel despite tension with Netanyahu
▼ + stars: | 2024-05-07 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

CNN —The political rawness of the moment, as Israel pounds Gaza and outrage rocks American college campuses, means President Joe Biden’s big speech Tuesday condemning antisemitism is most notable for what he left unsaid. The speech was closely watched given the turmoil in the Middle East and its stunning political reaction in the US. “My commitment to the safety of the Jewish people, the security of Israel, and its right to exist as an independent Jewish state is ironclad. While praising the right to free speech as a fundamental American value, he condemned reported instances when some Jewish students have faced antisemitic taunting. Understanding history and preventing it from being manipulated for political gain was a major focus of Biden’s speech, which was delivered on the 79th anniversary of VE Day, when the allies defeated Nazism in World War II.

Persons: Joe Biden’s, movingly, you’re, ” Biden, Biden, Benjamin Netanyahu, ”, Joe ”, We’re, Biden’s, Donald Trump, Trump, Stormy Daniels, “, ” Johnson, Netanyahu, —, Mike Johnson, ’ Organizations: CNN, Jewish, Hamas, Holocaust Memorial, Capitol, Arab, Israel, Gaza Health Ministry, Democratic, Trump, Republicans, Republican, Louisiana Republican, White, GOP, Nazism Locations: Israel, Gaza, Nazi, Rafah, Michigan, Manhattan, Nazi Germany, United States, Louisiana, Charlottesville , Virginia, Gestapo

☆ Demonstrators Seize on Israeli Moves in Rafah to Rally Support
▼ + stars: | 2024-05-07 | by ( Yan Zhuang | ) www.nytimes.com time to read: +5 min

When tents went up amid the Gothic architecture on the University of Chicago’s quad on April 29, administrators initially took a permissive view. But that changed on Friday when negotiations between protesters and university leaders stalled, and the university’s president, Paul Alivisatos, wrote a letter saying demonstrators had violated policies and engaged in vandalism. “The encampment has created systematic disruption of campus,” said Dr. Alivisatos, a chemist who became president of the university in 2021. As part of its free speech philosophy, the university also put forward the principle of institutional neutrality. But the statement also describes clear limits, including a right to prohibit illegal activities and speech “that constitutes a genuine threat or harassment.”

Persons: Paul Alivisatos, ” “, ”, Alivisatos, “, counterprotesters, Brandon Johnson Organizations: University of Chicago, University of, Chicago, “, ” Locations: Chicago, Palestine

☆ Warren Buffett compares AI to nuclear weapons in stark warning
▼ + stars: | 2024-05-06 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

At his annual shareholder meeting in Omaha, Nebraska, the 93 year-old co-founder, chairman and CEO of Berkshire Hathaway issued a stark warning about the potential dangers of the technology. “We let a genie out of the bottle when we developed nuclear weapons,” he said Saturday. JPMorgan Chase, the world’s largest bank by market capitalization, is also exploring the potential of generative AI within its own ecosystem, Dimon said. Dozens of AI industry leaders, academics and even some celebrities have signed a statement warning of an “extinction” risk from AI. “Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war,” the statement said.

Persons: New York CNN — Warren Buffett, Berkshire Hathaway, ”, Greg Abel, Buffett, “, Abel, isn’t, Buffett Buffett, JPMorgan Chase, Jamie Dimon, Dimon, Jeffrey Sonnenfeld, Sonnenfeld, Doug McMillion, James Quincy, Sam Altman, Geoffrey Hinton Organizations: New, New York CNN, Berkshire, International Monetary Fund, Industries, Nvidia, Microsoft, scamming, JPMorgan, JPMorgan Chase, Software, Yale, Summit, CNN, Walmart, Xerox, Google Locations: New York, Omaha , Nebraska, Omaha, scamming

☆ RSA CEO Rohit Ghai says emergent 5G technology increases the need to protect critical networks
▼ + stars: | 2024-05-06 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +7 min

Emergent 5G technology is faster and more secure than ever. "There's a huge amount of intellectual property and corporate data that sits on mobile devices," Ghai said. 5G networks are very, very dynamic. The other change is using identity and access governance to make sure privileged access to IT and OT [operational technology] networks is managed. That same pattern follows in 5G networks.

Persons: Rohit Ghai, Ghai, —, It's Organizations: Service, RSA, Infrastructure Security, 5G Locations: San Francisco, cybersecurity

☆ France's Macron set to press visiting Xi on trade, Ukraine
▼ + stars: | 2024-05-05 | by ( ) www.cnbc.com time to read: +1 min

Chinas President Xi Jinping (L) and his French counterpart Emmanuel Macron attend the official welcoming ceremony in Beijing on April 6, 2023. China's President Xi Jinping heads to Paris on Sunday for a rare visit, with his French counterpart Emmanuel Macron set to press him to reduce trade imbalances and try to convince him to use his influence on Russia over the war in Ukraine. Neither aim will be easily fulfilled during Xi's two-day stay in France, where he arrives at a time of growing trade tensions between Europe and China. His official meetings will include joint talks with Macron and European Commission chief Ursula von der Leyen. German Chancellor Olaf Scholz will not join Macron and Xi in Paris due to prior commitments, sources said.

Persons: Xi Jinping, Emmanuel Macron, Xi, Ursula von der, Olaf Scholz, Noah Barkin Organizations: China's, European Union, EU, Macron, European Commission Locations: Beijing, Paris, Russia, Ukraine, France, Europe, China, European, Germany, German

☆ Star Wars was the first Lego license — 25 years later, it's stronger than ever
▼ + stars: | 2024-05-04 | by ( Sarah Whitten | ) www.cnbc.com time to read: +7 min

Star Wars Lego models are seen at the Bricks & Figs museum in Krakow, Poland, on April 15, 2023. A design director at the Denmark-based Lego company, he has spent the past 25 years creating Lego Star Wars sets. Now, Lego Star Wars has become a blueprint for the company's other brand deals — think Harry Potter, Batman and Marvel's Avengers. The Lego Star Wars collaboration came at a time of financial turmoil for Lego. Lego Icons, Lego Technic, Lego City and Lego Harry Potter also performed well.

Persons: Jens Kronvold Frederiksen, Frederiksen, Darth Vader, Harry Potter, Jill Wilfert, Wilfert, It's, Paul Southern, Shirlaine Forrest, " Frederiksen, we're, Southern, We've Organizations: Anadolu, Getty, Star, CNBC, Disney, Epic Games, Lego Star, Lego, Force, Manchester Central, Imperial, Star Wars, Lucasfilm, Walt Disney Company, Lego Star Wars, Warner Bros, Games Locations: Krakow, Poland, Denmark, Lego, Manchester, England

☆ Rue21, a mall staple, files for bankruptcy and will close all of its stores
▼ + stars: | 2024-05-03 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Rue21, a mall staple for teen apparel, is going out of business and closing all 540 of its stores within the coming weeks. The retailer, which has about $200 million in debt and 4,900 employees, has been struggling financially in recent years despite a 2017 bankruptcy that the company hoped would turn Rue21 around. Its stores, which are located in 45 US states, will close within the next 4 to 6 weeks and “going out of business” sales are beginning soon. Express filed for bankruptcy last month and announced it was closing about 100 stores. 99 Cents Only Stores, a discount chain, also said in April it was going out of business.

Persons: New York CNN —, Michele Pascoe, Rue21, ” Pascoe, “, Neil Saunders, ”, Rue21 didn’t, Joann Organizations: New, New York CNN, GlobalData, CNN Locations: New York, Pittsburgh, ”

☆ Taylor Swift's music returns to TikTok after Universal Music agrees new licensing deal, ending spat
▼ + stars: | 2024-05-02 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Taylor Swift attends the 66th GRAMMY Awards at Crypto.com Arena on February 04, 2024 in Los Angeles, California. Universal Music Group , the record label for top music artists including Taylor Swift, struck a new licensing agreement with TikTok, putting an end to a spat between the two companies. In a statement Thursday, UMG said the licensing deal would lead to the return of its artists' music to TikTok. Music by artists including Swift and Drake became unavailable on TikTok, which is owned by Chinese internet giant ByteDance. At the heart of the spat was the contention that TikTok allowed its platform to undermine artists' intellectual property with unauthorized AI-generated songs.

Persons: Taylor Swift, UMG, TikTok, Swift, Drake Organizations: Crypto.com Arena, Universal Music Group, TikTok, Poets Department, CNBC, UMG Locations: Los Angeles , California

☆ What you need to know about Skydance's bid for Paramount, from financing a deal worth $32 billion to its plans for the media empire
▼ + stars: | 2024-05-01 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

Skydance Media and its largest private-equity backer RedBird Capital Partners have been wooing Paramount for the better part of a year. The Skydance consortium, including fellow Skydance investor KKR, submitted a revised offer on Sunday. The deal would be worth roughly $32 billion, according to the source, with the value of Paramount and its $15 billion in debt making up the lion's share. Here's what we know about the deal, how much Redstone would get, and what a new Paramount would look like. Keeping Paramount public sets the Skydance bid apart from Apollo's potential offer, according to one of the sources.

Persons: Bob Bakish, Shari Redstone's, Tom Cruise, Mario Gabelli, Bakish, Getty, Redstone's, David Ellison, Larry Ellison, Ellison, RedBird, Gerry Cardinale, Goldman Sachs, Goldman, Skydance, Jeff Shell, Ben Affleck, Matt Damon's, Axel Springer Organizations: Skydance Media, RedBird Capital Partners, Paramount, KKR, Business, Ex, CNBC, Apple, New York Yankees, NFL, Bakish, CBS, MTV, Nickelodeon, ' Equity, Amazon Studios, Sony, Apollo, Wall Street Locations: Santa Monica , California, New York City, Skydance, RedBird

☆ 86% of expats report being stressed out, but study suggests they may also cope better with burnout
▼ + stars: | 2024-04-30 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +5 min

Globally mobile employees often have... a mental and physical feeling of being healthy, capable, and energetic – and a strong sense of meaning and purpose. So why do globally mobile individuals score higher on vitality despite reporting higher stress and burnout levels compared to local counterparts? Globally mobile employees emerge as a highly valuable and resilient segment of the workforce. Despite facing unique stressors associated with their situation, they exhibit distinct skills and a high level of motivation, resulting in higher vitality. 2024 Cigna Healthcare Vitality Study

Persons: Ernestine Siu It's, Wendy Sherry, Sherry Organizations: Healthcare, Global Health, International Health, Cigna, Cigna Healthcare, Financial Locations: United States, Singapore, U.S, Spain, Netherlands, Belgium, Switzerland, Kenya, United Arab Emirates, Saudi Arabia, China, Hong Kong, Asia, Middle East, Africa, UAE, Europe

☆ Meet the ex-Goldman Sachs partner behind the scenes of the Skydance-Paramount deal negotiations
▼ + stars: | 2024-04-30 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Read previewParamount's CEO Bob Bakish was ousted on Monday night, putting the entertainment giant one step closer to accepting a merger deal. The would-be buyer, film studio Skydance Media, is owned by David Ellison, son of billionaire Oracle founder Larry. An investor in Skydance since 2020, RedBird is the media company's largest shareholder other than the Ellison family. This story is available exclusively to Business Insider subscribers. "I think it's my biggest competitive advantage that I don't get emotionally attached," Cardinale told Business Insider in 2022.

Persons: —, Bob Bakish, David Ellison, Larry, RedBird, Ellison, Gerry Cardinale, Goldman Sachs, Jeff Shell, Skydance, " Cardinale, Goldman, Jon Winkelried, Gerry, Axel Springer Organizations: Service, Skydance Media, RedBird Capital Partners, Business, New York Yankees, Dallas Cowboys, NFL, AC Milan, Paramount, KKR, Sony, TPG Locations: Skydance, RedBird

☆ FTC challenges 'junk' patents held by 10 drugmakers, including for Novo Nordisk's Ozempic
▼ + stars: | 2024-04-30 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

The Federal Trade Commission on Tuesday said it is challenging hundreds of alleged "junk" patents held by pharmaceutical companies for 20 brand-name drugs, including Novo Nordisk's blockbuster drugs Ozempic, Saxenda and Victoza. The FTC issued letters to 10 companies, warning them that certain drug patents were improperly listed. Many of the drug patents are for Type 2 diabetes, along with asthma and inhalers for chronic obstructive pulmonary disease, or COPD. Generic drugmakers can only launch cheaper versions of a branded drug if the patents have expired or are successfully challenged in court. The FTC first challenged dozens of branded drug patents last fall, leading three drugmakers to comply and delist their patents with the FDA.

Persons: Novo, Boehringer, Lina Khan, Biden, drugmakers, Joe Biden's Organizations: Federal Trade Commission, FTC, Novo Nordisk, AstraZeneca, Covis Pharma, GlaxoSmithKline, Novartis, Teva Pharmaceuticals, Amphastar Pharmaceuticals, Food and Drug Administration, FDA Locations: U.S

☆ Intel used to dominate the U.S. chip industry. Now it's struggling to stay relevant
▼ + stars: | 2024-04-26 | by ( Kif Leswing | ) www.cnbc.com time to read: +16 min

David Paul Morris | Getty Images News | Getty ImagesThe iPhone could have had an Intel chip inside. It would've made sense to use Intel chips, which ran on the best desktops at the time, including Apple's Macs. Braithwaite, who worked at Intel in the 1980s, said Intel's process engineers were the company's "crown jewels." Intel doesn't have a GPU competitor to Nvidia's AI accelerators, but it has an AI chip called Gaudi 3. For comparison, AMD expects about $2 billion in annual AI chip revenue.

Persons: Pat Gelsinger, Seth Wenig, Gelsinger, Biden, Nicholas Braithwaite, Akshara Bassi, It's, Steve Jobs, David Paul Morris, Apple, Paul Otellini, Walter Isaacson's, Otellini, Isaacson, Jobs, Apple didn't, Apple —, TSMC, Mikako Kitagawa, Joe Biden, Brendan Smialowski, Braithwaite, Gordon Moore, Moore's, Brian Krzanich, 7nm —, TSMC didn't, Jensen Huang, Josh Edelson, OpenAI, Gaudi, Intel's, it's, Bassi, CNBC's Jon Fortt Organizations: Intel, Taiwan Semiconductor Manufacturing Company, Nvidia, Micro Computer, Qualcomm, Broadcom, Texas Instruments, AMD, Apple, Celesta, Meta, Microsoft, Getty, Samsung, Gartner, Asus, AFP, Semiconductor, Engineers, SAP Center, Afp, Companies, Blackwell, Habana Labs, Gaudi, FactSet, U.S Locations: New York, American, U.S, Chandler , Arizona, California, San Jose , California, Taiwan, Columbus , Ohio

☆ Michael C. Jensen, Who Helped Reshape Modern Capitalism, Dies at 84
▼ + stars: | 2024-04-26 | by ( Michael S. Rosenwald | ) www.nytimes.com time to read: +1 min

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

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