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☆ Foremost Group CEO Angela Chao was intoxicated during fatal car accident in Texas pond: police
▼ + stars: | 2024-03-20 | by ( Dan Mangan | ) www.cnbc.com time to read: +6 min

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

☆ Authorities have launched a 'criminal investigation' into Foremost Group CEO Angela Chao's death, report says
▼ + stars: | 2024-03-02 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +2 min

Authorities have launched a "criminal investigation" into the death of the Foremost Group CEO. AdvertisementAuthorities in Texas have said they are carrying out a "criminal investigation" into the death of Foremost Group CEO Angela Chao, CNBC reported. In a letter to the attorney general, the sheriff's office also noted that it "was not a typical accident," the report added. Her sister, Elaine Chao, is a former US Secretary of Transportation and the wife of Senate Minority Leader Mitch McConnell. Business Insider reached out to the Blanco County Sheriff's Office for comment.

Persons: Angela Chao, Elaine Chao, Mitch McConnell, —, Ken Paxton, Jim Breyer, Chao, James S.C Organizations: Foremost, Service, Authorities, CNBC, Blanco County Sheriff's, Texas, Transportation, Business Locations: Texas, Johnson City , Texas, Austin, Blanco County

☆ Death of shipping CEO Angela Chao under 'criminal investigation,' Texas sheriff says
▼ + stars: | 2024-02-29 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

The death earlier this month of Foremost Group CEO Angela Chao, the sister-in-law of Senate Minority Leader Mitch McConnell, is currently under "criminal investigation," a Texas sheriff's office said Thursday. "This incident was not a typical accident," the Blanco County Sheriff's Office wrote in a letter to Texas Attorney General Ken Paxton on Thursday. "Releasing the reports, videos and other information prior to the completion of the investigation would interfere with the investigation and possible prosecution of this matter," the sheriff's office wrote. The sheriff's office in that Feb. 16 statement had said, "EMS attempted emergency measures on Ms. Chao but she succumbed from being under the water." Chao was the sister of McConnell's wife, Elaine Chao, who has served as secretary of both the U.S. Labor and Transportation departments.

Persons: Angela A, Chao, Angela Chao, Mitch McConnell, Ken Paxton, Jim Breyer, Austin . Chao, Elaine Chao Organizations: New York City Opera, Blanco County Sheriff's, CNBC, U.S . Labor, Transportation Locations: New York City, Texas, Johnson City , Texas, Austin, Blanco County

☆ Mitch McConnell to step down as Republican Senate leader in November
▼ + stars: | 2024-02-28 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Sen. Mitch McConnell of Kentucky said Wednesday that he will step down as Republican leader in the Senate in November. McConnell, 82, revealed his plans in an address to the Senate, where he currently serves as minority leader. McConnell, who is the longest-serving Senate caucus leader in history, plans to keep his seat in the chamber, which he took in 1985. "To serve Kentucky, has been the honor of my life, to lead my Republican colleagues has the highest privilege," McConnell said. "When you lose a loved one, particularly at a young age, there's a certain introspection that accompanies the grieving process," McConnell said.

Persons: Sen, Mitch McConnell, McConnell, Elaine Chao, Angela, Chao's, Angela Chao, Jim Breyer Organizations: Kentucky, Senate, Republican Locations: Kentucky, life's, Austin , Texas

☆ Foremost Group CEO Angela Chao died after car went into Texas pond, sheriff says
▼ + stars: | 2024-02-16 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Angela A. Chao hosts The New York City Opera Pre-Gala Celebration at a private residence in New York City on Oct. 21, 2010. Angela Chao, CEO of Foremost Group and the sister-in-law of Senate Minority Leader Mitch McConnell, died after her car went into a pond on a private ranch about 40 miles west of Austin, Texas, authorities said Friday. On Friday, the Blanco County Sheriff's Office said in a statement that on Saturday, it "responded to a possible water rescue on a private ranch located in Blanco County, TX." "On arrival Blanco County deputies along with Blanco County EMS and Fire recovered the body of Angela Chao from a pond on the ranch," the statement said. "EMS attempted emergency measures on Ms. Chao but she succumbed from being under the water," the statement said.

Persons: Angela A, Chao, Angela Chao, Mitch McConnell, Chao's, Jim Breyer, Elaine Chao, McConnell, Donald Trump's, George W, Bush, Ben Oakley, Oakley Organizations: New York City Opera, Foremost, Wednesday, Blanco County Sheriff's, Blanco County EMS, Fire, Harvard, National Basketball, Boston Celtics, Bank of, China State Shipbuilding Corporation, Transportation, Labor, CNBC Locations: New York City, Austin , Texas, Blanco County, Blanco County , TX, Blanco, Johnson City, Austin, Bank of China

☆ Angela Chao, CEO of Foremost Group and wife of VC Jim Breyer, dies in a car crash at age 50
▼ + stars: | 2024-02-15 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +1 min

Angela Chao, CEO of Foremost Group, died in a car accident in Texas, the company said. Chao was married to venture capitalist Jim Breyer and was the sister of Elaine Chao. AdvertisementAngela Chao, 50, chair and CEO of the shipping company the Foremost Group, died in a car crash in Texas on Sunday, the company said. Angela Chao was also the sister of Elaine Chao, who is married to Senate Minority Leader Mitch McConnell. Elaine Chao served as labor secretary under former President George W. Bush and transportation secretary under former President Donald Trump.

Persons: Angela Chao, Chao, James S.C, Jim Breyer, Elaine Chao, —, Mitch McConnell, George W, Donald Trump Organizations: Foremost, Service, Breyer Capital, Business Locations: Texas

☆ AMD's stock surge in past year leads analyst to a 'heck if we know' rating
▼ + stars: | 2024-01-22 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

But elevated expectations for AI chip growth has led Northland Capital Markets analyst Gus Richard to admit that he's not sure where AMD shares should go from here. "We downgrade on valuation to 'a heck if we know' rating," Richard wrote in a note on Monday. Richard's call is based on his view that investor expectations for AI chip growth have spilled into "irrational exuberance." AMD shares fell about 3.5% to $168.17 as of Monday afternoon. Nvidia shares were up less than 1%.

Persons: Lisa Su, —, Gus Richard, he's, Richard, Jim Breyer Organizations: AMD, Nvidia, Microsoft, Meta, Northland Capital Locations: Las Vegas , Nevada, Northland, U.S, China

☆ AMD shares jump 8% to highest close since 2021 on AI chip demand
▼ + stars: | 2024-01-16 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Lisa Su displays an AMD Instinct MI300 chip as she delivers a keynote address at CES 2023 in Las Vegas, Nevada, on Jan. 4, 2023. Tom O'Malley, an analyst at Barclays, raised his price target on AMD to $200 from $120, saying AMD could post $4 billion in AI chip sales this year. KeyBanc analysts also increased their price target for AMD to $195 and Nvidia to $740 on Tuesday, due to strong demand for AI servers. Nvidia , which has the vast majority of the market for AI chips and was the best-performing stock in the S&P 500 last year, advanced 3% to $563.82. Analysts see AMD improving its AI software and expect major chip buyers such as cloud providers and tech giants to look hard at using AMD GPUs.

Persons: Lisa Su, Tom O'Malley, O'Malley, Jim Breyer, Breyer, NVDA Organizations: AMD, Microsoft, Google, Barclays, AMD's, Nvidia, Venture, CNBC Locations: Las Vegas , Nevada

☆ How Morgan Stanley exec Ted Pick rose from 'rough edged' deal junkie to CEO
▼ + stars: | 2023-10-25 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +21 min

Editor's note: Morgan Stanley announced on October 25 that Ted Pick would replace James Gorman as CEO. Employees knew they were getting promoted if Pick told them to wear a tie the following day, an ex-managing director recalled. While Morgan Stanley currently trades at a premium among its Wall Street peers, its enviable success isn't thanks to Pick. Gonzalo Marroquin/Patrick McMullan via Getty Images Show less Morgan Stanley investment management head and dark horse in the race for CEO, Dan Simkowitz. Despite enjoying the stock price gains under Gorman's reign, plenty of longtime employees want another dyed-in-the-wool Morgan Stanley loyalist, according to a former senior executive.

Persons: Morgan Stanley, Ted Pick, James Gorman, Pick, Gucci loafers, Blackstone, Tony James, Morgan, Gorman, Andy Saperstein, Dan Simkowitz, John Mack, Ted, James, Phil Purcell, Mack, Purcell, Merrill Lynch, Paul Taubman, Colm Kelleher, coheads, Gonzalo Marroquin, Patrick McMullan, Saperstein, Euromoney, Parker Gilbert, He's, John, cohead, Bolu, Goldman Sachs, Pablo, tony, Betsey Kittenplan, Smith Barney, James cochairs, Jim Breyer, Anna Wintour, John Mack pranking Pick, John Waldron, I'm, Howard Marks, Bill Parcells, atta, Brian Moynihan, aren't, David Solomon, Jamie Dimon's, Eaton Vance, he's, you've, Richard Drew, —, Hayley Cuccinello Organizations: Employees, Archegos Capital Management, Blackstone, McKinsey, Getty, Middlebury College, China Construction Bank, Harvard Business School, Mitsubishi, Wall, Autonomous Research, Anguilla, Agricultural Bank of China, Capital Management, Metropolitan Museum of Art, Vogue, New York Rangers, Oaktree Capital Management, Bloomberg, Staten, Disney, JPMorgan, Trade, AP Locations: China, Beijing, Manhattan, New York City, Caracas, Venezuela, Brookville, tony Long, hcuccinello@insider.com

☆ 'Where ambition goes to die': These tech workers flocked to Austin during the pandemic. Now they're desperate to get out.
▼ + stars: | 2023-08-31 | by ( Ben Bergman | Jordan Pandy | ) www.businessinsider.com time to read: +11 min

Many tech workers in California moved to Austin during the pandemic in search of a new lifestyle. Some tech workers say they regret moving there, given its middling tech scene and "fake" atmosphere. They cited several contributing factors, including extreme temperatures, traffic, overcrowding, and — perhaps most surprising — a middling tech scene that fails to live up to the hype. From Silicon Valley to the Silicon HillsNot long ago, Austin's tech scene was ascendant, with national headlines suggesting it could take on Silicon Valley. He acknowledged there's not much of a tech scene there but will take that over what he perceived as Austin's smoke and mirrors.

Persons: Austin, Mike Chang, Chang, Tesla, Danielle Fountain, Fountain, Elon Musk, Jim Breyer, Joe Lonsdale, Bill Gurley, Musk, Gurley, Emily Chang, John Andrew Entwistle, who's, John Andrew Entwistle Entwistle, Entwistle, oversold, Nicholas Falldine, there's, Nick Thomas, Austin doesn't, Thomas, he's, Sam Parr, I'm, Sheharyar, Redfin, Bokhari, It's, frolic Organizations: Oracle, Facebook, Google, Apple, Breyer Capital, Austin Chamber, Austin, Lone Star, US Postal Service Locations: California, Austin, Los Angeles, Bay, Silicon, Silicon Valley, Austin's, Palo Alto, Westchester County , New York, Fayetteville , Arkansas, Austin , Texas, San Francisco

☆ Edtech startup Kinjo incentivizes kids to play educational mini-games in Roblox. Check out the pitch deck it used to raise $6.5 million in seed funding.
▼ + stars: | 2023-08-21 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +5 min

With Kinjo, kids can earn virtual currency called Robux by playing higher-ranked learning games. To earn these Robux, kids can spend real-world money, or they can play simple mini games to "grind" for Robux rewards. Kids who use Kinjo are three times more likely to spend time on games that are more productive than kids without Kinjo, Malcolm said. Many edtech gaming platforms are already on the market, such as the social-emotional learning game Social Cipher or the STEM learning game Royelles. Check out the 16-slide pitch deck that Kinjo used to raise $6.5 million in seed funding:

Persons: Charles Thornburgh couldn't, Thornburgh, Jim Breyer's Breyer, Kinjo, Laura Malcolm, Kinjo's, Malcolm said, Krishna Srinivasan Organizations: Austin, LiveOak Venture Partners, Silverton Partners, Jim Breyer's Breyer Capital, Roble, Robux, Roblox Locations: Roblox, Silverton, Austin , Texas, Fortnite

☆ The scientist behind IBM Watson has raised $60 million for his AI startup in New York
▼ + stars: | 2023-08-17 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

David Ferrucci, a prominent artificial intelligence researcher who led the team that created IBM Watson , has raised nearly $60 million for his AI startup called Elemental Cognition, according to a regulatory filing. The filing on Thursday says the company sold $59.95 million worth of equity to 17 investors and plans to raise another $5.75 million. Ferrucci led IBM Watson between 2006 and the end of 2012, during which time the computer system famously won "Jeopardy!" He then ran AI research for Bridgewater Associates, one of the world's largest hedge funds. In January of last year, the company sold its Watson Health unit for an undisclosed amount to private equity firm Francisco Partners.

Persons: David Ferrucci, Watson, Cora, Ferrucci, IBM Watson, David Shepler, Eric Brown, Mike Barborak, Jim Breyer, Sam Palmisano, Greg Jensen, Bridgewater's, Geoff Yang, OpenAI's Organizations: IBM, Bridgewater Associates, Rensselaer Polytechnic Institute, Bridgewater, Breyer Capital, Facebook, Redpoint Ventures, CNBC, Investors, Health, Francisco Partners Locations: New York, New, Helmsley, guardrails, China

☆ Meet Ted Pick, the hard-charging 'deal junkie' who rose to the top at Morgan Stanley the old-fashioned way — and looks poised to succeed James Gorman as CEO
▼ + stars: | 2023-08-01 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +20 min

Employees knew they were getting promoted if Pick told them to wear a tie the following day, an ex-managing director recalled. While Morgan Stanley currently trades at a premium among its Wall Street peers, its enviable success isn't thanks to Pick. Succession has traditionally been a bloody sport on Wall Street, and Morgan Stanley is no exception. Gonzalo Marroquin/Patrick McMullan via Getty Images Show less Morgan Stanley investment management head and dark horse in the race for CEO, Dan Simkowitz. Despite enjoying the stock price gains under Gorman's reign, plenty of longtime employees want another dyed-in-the-wool Morgan Stanley loyalist, according to a former senior executive.

Persons: Morgan Stanley, Ted Pick, Pick, Gucci loafers, Blackstone, Tony James, Morgan, James Gorman, Gorman, Andy Saperstein, Dan Simkowitz, John Mack, Ted, James, Phil Purcell, Mack, Purcell, Merrill Lynch, Paul Taubman, Colm Kelleher, coheads, Gonzalo Marroquin, Patrick McMullan, Saperstein, Euromoney, Parker Gilbert, He's, John, cohead, Bolu, Goldman Sachs, Pablo, tony, Betsey Kittenplan, Smith Barney, James cochairs, Jim Breyer, Anna Wintour, John Mack pranking Pick, John Waldron, Goldman, I'm, Howard Marks, Bill Parcells, atta, Brian Moynihan, aren't, David Solomon, Jamie Dimon's, Eaton Vance, he's, you've, Richard Drew, — Organizations: Employees, Archegos Capital Management, Blackstone, McKinsey, Getty, Middlebury College, China Construction Bank, Harvard Business School, Mitsubishi, Wall, Autonomous Research, Anguilla, Agricultural Bank of China, Capital Management, Metropolitan Museum of Art, Vogue, New York Rangers, Oaktree Capital Management, Bloomberg, Staten, Disney, JPMorgan, Trade, AP Locations: China, Beijing, Manhattan, New York City, Caracas, Venezuela, Brookville, tony Long

☆ The next big thing in Big Tech career path is an AI-based 'bilingual' job skillset
▼ + stars: | 2023-04-02 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +8 min

Microsoft unveiled new versions of its Bing internet-search engine and Edge browser powered by the newest technology from ChatGPT maker OpenAI. But the biggest one of all may be next, he says, through the combination of artificial intelligence and branches of science involved in medicine. But the opportunity won't translate into achievement without a new form of collaboration between the classic big tech talent and the medical field. One of her portfolio companies, Insitro, was founded by Stanford AI researcher Daphne Koller (Koller co-founder edtech company Coursera). "There is lots of exciting big talent opportunities coming from big tech and big cap pharma," she said.

☆ After splitting with Kanye West, British audio startup Kano asks for funding
▼ + stars: | 2023-02-27 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

The two would go on to discuss the beginnings of what eventually became the Stem Player. It was originally named the "Donda Stem Player," a reference to West's 10th studio album, Donda. Faced with "worse" terms and news of Ye's antisemitic comments, Kano didn't accept, Klein said. Despite recent outcry over Ye's antisemitic remarks, he has frequently raised eyebrows. The Stem Player, along with West's dedicated fanbase, drove great commercial success for the small London startup.

☆ ChatGPT-style A.I. replaced crypto as the hot tech topic for Davos crowd at 2023's WEF summit
▼ + stars: | 2023-01-20 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Jonathan Raa | Nurphoto | Getty ImagesAttendees of the annual World Economic Forum couldn't get enough of a new development in the realm of artificial intelligence: generative AI. Most machine learning tools rely on existing information and identify patterns in the data to pick out trends or reach a preferred outcome. Generative AI tools like ChatGPT and Dall-E stand out from the crowd through their ability to take data inputs and create new content. This week at the WEF forum in Davos, Switzerland, generative AI virtually replaced crypto and so-called "Web3" as the hyped technology of choice for top business executives and policymakers. "Generative AI has a huge potential," said Hiroaki Kitano, CEO of Sony Computer Science Laboratories, on Tuesday's generative AI panel.

☆ Breyer Capital's Jim Breyer on Meta: In the next 24 months, there will be a big rebound
▼ + stars: | 2023-01-19 | 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 EmailBreyer Capital's Jim Breyer on Meta: In the next 24 months, there will be a big reboundCNBC's Sara Eisen talks to Jim Breyer, CEO of Breyer Capital, at Davos 2023, who breaks down China, Meta, and other Big Tech names.

☆ Early Facebook investor says Zuckerberg isn't cutting costs fast enough
▼ + stars: | 2023-01-19 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +2 min

Jim Breyer, one of Facebook's earliest investors, believes that Meta isn't cutting costs fast enough amid the company slated to report its third consecutive quarterly revenue decline. "But they're gonna be under a lot of pressure for the next 12 months, and they're not cutting costs fast enough, in my humble opinion." "The Metaverse is years away," Breyer added, regarding the company's 2021 name change and subsequent multibillion-dollar investment into virtual reality and augmented reality technologies. "It'll be Apple, it'll be Google, it'll be Sony as well as Oculus, but watch for a big holiday in the world of virtual reality." At the University of Texas, they just banned Tiktok from all devices," Breyer said referring to a December decision by university officials.

☆ YouTube will start sharing ad revenue with Shorts creators as the company tries to catch TikTok
▼ + stars: | 2022-09-20 | by ( Jennifer Elias | ) www.cnbc.com time to read: +3 min

As YouTube tries to chase down TikTok in the short-video market, the Google-owned company says it will start handing over a bigger slice of advertising revenue to popular creators. It's not yet clear how lucrative the opportunity will be for Shorts creators because YouTube is providing limited information on the payouts. YouTube said that every month it will pool together ad revenue from Shorts. Of that sum, an undisclosed percentage is allocated to creators, and YouTube will pay them 45% of that amount. Regular YouTube video creators earn 55% of revenue from ads that play before or during their videos.

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