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☆ Elon Musk's wealth has crashed by $160 billion from its peak as Tesla's problems pile up
▼ + stars: | 2024-04-17 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The stock drop has fueled an estimated $160 billion decline in Elon Musk's net worth. AdvertisementTesla's mounting troubles have dealt a heavy blow to Elon Musk's net worth. However, Musk's net worth has plunged by about $160 billion since then to $178 billion at Tuesday's close. Musk's net worth has taken a big hit from the decline because his 13% stake in the automaker makes up a big chunk of his wealth. He topped the Bloomberg rich list with a $229 billion fortune in January, but his net worth has crashed by $51 billion, or 22%, since then.

Persons: —, Elon, Warren Buffett, LVMH's Bernard Arnault, Jeff Bezos, Meta's Mark Zuckerberg, Musk, He's, Zuckerberg, isn't Organizations: Service, Bloomberg, SpaceX, Buffett, Tesla, Twitter Locations: Elon Musk's

☆ Nvidia is in a bubble, stocks will disappoint for a decade, and a recession will strike this year, markets guru warns
▼ + stars: | 2024-04-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Nvidia is in a bubble, stocks will falter, and a recession will hit this year, Jesse Felder said. The markets guru said the microchip frenzy would fade, and stock-market returns would drop off. 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 . AdvertisementNvidia hype is a bubble that will burst, stocks will disappoint for the next decade or longer, and a recession will strike this year, Jesse Felder said.

Persons: Jesse Felder, —, outsize, Felder, Jeff Bezos, Meta's Mark Zuckerberg, Jamie Dimon Organizations: Nvidia, Service, Micron

☆ Elon Musk says he's raising Tesla engineer salaries because OpenAI has been aggressively poaching them with massive paydays
▼ + stars: | 2024-04-04 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Elon Musk says he's hiking the salaries for those working on Tesla's AI engineering team. "The talent war for AI is the craziest talent war I've ever seen!" Tesla CEO Elon Musk said on Wednesday that his company is increasing the compensation packages for those working on the AI engineering team. — Elon Musk (@elonmusk) April 3, 2024Representatives for OpenAI did not immediately respond to a request for comment from Business Insider sent outside regular business hours. "The talent war for AI is the craziest talent war I've ever seen!"

Persons: Elon Musk, Musk, OpenAI, —, Sam Altman, poach, Tesla, — Elon, Ethan Knight, Ethan, Elon, Meta's Mark Zuckerberg, Google's, Meta, It's, who's, Sergey Brin, Brin Organizations: Service, Tesla, Musk's, xAI, OpenAI, Business Insider, Big Tech, Google

☆ Meme stocks are back in fashion. Here's how to find one.
▼ + stars: | 2024-04-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're breaking down how to identify a meme stock . Three years after GameStop upended things, meme stocks are back in fashion. But how does one find a meme stock? (Trump Media doesn't technically qualify as a meme stock under Sosnick's criteria due to the amount of low short interest. Maintaining long-term support for a meme stock remains a tough nut to crack.

Persons: —, Mark Zuckerberg, Satya Nadella, Jenny Chang, Rodriguez, There's, Steve Sosnick, Business Insider's Matthew Fox, David Becker, Chelsea Jia Feng, Donald Trump's, Trump, Bill Gross, BI's Peter Kafka, there's, it's, Pedro Ribeiro Simões, …, Matt Chase, they're, OpenAI's Sam Altman, Sora, Meta, Tyler Le, Jack Canfield's, Jay Marine, Amazon's, Jeff Bezos, Antony Blinken, Emmanuel Macron, Dan DeFrancesco, Hallam Bullock, Grace Lett, Lisa Ryan Organizations: Business, Service, Getty, GameStop, Interactive, Business Insider's, Trump Media, Technology Group, AMC Entertainment, Big Tech, Hollywood, Facebook, NBA, FOX Locations: YOLO, hodlers, Silicon, Paris, Ukraine, Gaza, New York, London, Chicago

☆ Nvidia is kicking off its big AI event at a sports arena. Here's how to watch.
▼ + stars: | 2024-03-18 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +2 min

Nvidia CEO Jensen Huang is kicking off the "Woodstock of AI" in a keynote speech Monday. Analysts predict Nvidia will reveal new graphics processing chips that could transform the AI industry. AdvertisementNvidia is kicking of its massive AI event at a California sports arena on Monday. The event has been dubbed the "Woodstock of AI" and Nvidia CEO Jensen Huang is its rockstar headliner. The hype surrounding Huang's speech, and what he will reveal about the future of AI technology, is enormous.

Persons: Jensen Huang, —, Jensen, hough, ike C, penAI's Organizations: Nvidia, Service, rockstar, GPU Technology Conference, Wall Locations: Woodstock, California, San

☆ It might be time to rethink the smartphone — for real this time
▼ + stars: | 2024-03-14 | by ( Hugh Langley | ) www.businessinsider.com time to read: +5 min

Why do phones need apps? At this year's Mobile World Congress, the future of the smartphone and how we connect were firmly under the microscope. Deutsche Telekom and Brain.ai demoed one such instance at MWC: a smartphone with no apps. It's just an idea for now, but it's prompting an interesting question: Why assume the smartphone of the future has apps at all? But the smartphone industry is slumping, and there's a "need to invigorate the upgrade cycle," Milanesi told BI.

Persons: —, Sam Altman, There's, Altman, Jony, Meta's Mark Zuckerberg, Carolina Milanesi, Milanesi, Tom Butler, I'm, Butler, Lenovo's Butler, it's Organizations: Service, Congress, MWC, Las, CES, Deutsche Telekom, Brain.ai, Qualcomm, Bloomberg Locations: Carolina, PAU, AFP

☆ Facebook is getting rid of the News tab in the U.S. and Australia
▼ + stars: | 2024-03-01 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +5 min

Meta said Thursday that it would remove a dedicated section for news articles in April that will affect Facebook users in the United States and Australia. "The number of people using Facebook News in Australia and the U.S. has dropped by over 80% last year." Meta's decision to remove the Facebook News tab comes after the company said in September that it would eliminate the news section for Facebook users in the U.K., France and Germany. However, Meta said that it "will not enter into new commercial deals for traditional news content in these countries and will not offer new Facebook products specifically for news publishers in the future." A year ago, Facebook represented about 50% the media outlets' social traffic.

Persons: Meta's Mark Zuckerberg, Zuckerberg, Jay Y, Lee, Meta, it's, Chartbeat, Similarweb, Mother Jones, Monika Bauerlein, Bauerlein, Sam Altman Organizations: Meta, Samsung Electronics, South Korean, Seoul Economic, Facebook, U.S, CNBC, Canadian, Nvidia Locations: South Korea, Seoul, United States, Australia, France, Germany

☆ Jeff Bezos, Jamie Dimon, and Mark Zuckerberg have sold stock worth about $9 billion. They might think markets can't go much higher.
▼ + stars: | 2024-02-26 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Read previewAmazon's Jeff Bezos, JPMorgan's Jamie Dimon, and Meta's Mark Zuckerberg have all sold big chunks of shares in their own companies. Bezos is way out in front after offloading 50 million shares of Amazon in just nine trading days this month, pocketing an estimated $8.5 billion. Zuckerberg cashed in almost 1.8 million shares of his social-media empire for more than $400 million in the last two months of 2023. Zuckerberg hadn't sold Meta shares for almost two years prior to his latest transactions. University of Nebraska-LincolnIt's worth emphasizing that Bezos, Zuckerberg, and Dimon's sales only represent small fractions of their stakes, so they're still heavily invested in their respective companies' success.

Persons: —, Jeff Bezos, Jamie Dimon, Meta's Mark Zuckerberg, Zuckerberg, JPMorgan's Dimon, Bezos, Mark Zuckerberg, Brendan Smialowski, it's, Dimon, Warren Buffett, Berkshire Hathaway, He's, they've Organizations: Service, Amazon, Business, JPMorgan, Berkshire, Warren Buffett . University of Nebraska, Lincoln Locations: Berkshire

☆ Meta's Mark Zuckerberg to visit South Korea
▼ + stars: | 2024-02-21 | by ( ) www.cnbc.com time to read: +1 min

Meta's Mark Zuckerberg plans to visit South Korea, scheduling key meetings during the trip, according to a statement by Meta on Wednesday, which did not provide further details. Meta's Mark Zuckerberg is planning to visit South Korea and is scheduling key meetings during his trip, Meta said in a statement on Wednesday without elaborating. The Meta CEO may also meet South Korean President Yoon Suk Yeol, the paper said. It would be his first known visit to South Korea since 2013. A presidential official confirmed that Zuckerberg had sought a meeting with Yoon, without providing further details.

Persons: Meta's Mark Zuckerberg, Zuckerberg, Jay Y, Lee, Meta, Yoon Suk Yeol, Yoon Organizations: Meta, Samsung Electronics, South Korean, Seoul Economic, South, Samsung Locations: South Korea, Seoul, South Korean

☆ The richest man you've never heard of isn't sure what to do with his billions
▼ + stars: | 2024-02-15 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +3 min

Autry Stephens is set to be one of the world's richest people after selling his oil business. The sale is set to create one of the biggest drillers poised to take advantage of Texas' oil boom. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Autry Stephens sold his company, Endeavor Energy Resources, to Diamondback Energy earlier this week. Asked by the Journal what he would do with his newfound billions, Stephens said that he hadn't really thought about it yet.

Persons: Autry Stephens, —, Stephens, he's, Lyndal Greth, wasn't, Nvidia's Jensen Huang, Mark Zuckerberg Organizations: drillers, Service, Endeavor Energy Resources, Diamondback Energy, Bloomberg, Wall Street, Endeavor, ExxonMobil, ConocoPhillips —, Cruiser, Southwest Airlines, University of Texas Austin, UT Austin Locations: Texas

☆ Sam Altman's election gameplan shows he's desperate to avoid repeating Mark Zuckerberg's mistakes
▼ + stars: | 2024-01-16 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Sam Altman has a huge task in Davos: convince leaders he won't repeat Facebook's election mistakes. OpenAI has outlined its plan to prevent tools like ChatGPT from being used to interfere with elections. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The fretful among them will have a much more pressing question to ask: what's his plan to avoid Mark Zuckerberg election mistakes ? In the wake of the 2016 election, Zuckerberg dismissed the suggestion that Facebook influenced the vote as a "pretty crazy idea."

Persons: Sam Altman, OpenAI, —, Mark Zuckerberg, Zuckerberg, Altman, Meta's Mark Zuckerberg, Chip Somodevilla, ChatGPT, Joe Biden Organizations: Service, World Economic, Facebook, Republicans Locations: Davos, Swiss, Russia

☆ Nvidia CEO: Senior executives don't need pampering, career guidance
▼ + stars: | 2023-11-29 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Nvidia CEO Jensen Huang offered a glimpse into his unusual management style, including having "50 direct reports," in an interview with CNBC's Andrew Ross Sorkin on Wednesday. Huang says that he has so many direct reports — most executives only have 10 or so — because it keeps Nvidia from developing unnecessary layers of management. "The more direct reports a CEO has, the less layers are in the company. "The people that report to the CEO should require the least amount of pampering and so I don't think they need life advice. I don't think they need career guidance," Huang said.

Persons: Jensen Huang, CNBC's Andrew Ross Sorkin, Huang, Steve Jobs, Mark Zuckerberg Organizations: New York Times, Jazz, Lincoln Center, Nvidia, AMD Locations: New York City, China

☆ Biden plans to work with world leaders to ensure AI's use as a tool of 'opportunity'
▼ + stars: | 2023-09-19 | by ( Lauren Feiner | ) www.cnbc.com time to read: +2 min

"Emerging technologies such as artificial intelligence hold both enormous potential and enormous peril," Biden said at the U.N. on Tuesday. "We need to be sure they're used as tools of opportunity, not as weapons of oppression. The discussion is taking place with the backdrop of an intense competition with China, which is also seeking to be a world leader in the technology. In the meantime, several agencies have asserted their ability to rein in the abuses of AI with existing legal power. The Biden administration has also secured voluntary commitments from leading AI companies to test their tools for security before they release them to the public.

Persons: Joe Biden, Biden, Chuck Schumer, Elon Musk, Mark Zuckerberg, Schumer, Jeffrey Sachs Organizations: United Nations General Assembly, European Union, National Institute of Standards, Technology, U.S . Department of Commerce Locations: United States, U.S, China, Russia

☆ Elon Musk, Mark Zuckerberg, Bill Gates and other tech names head to Washington for a closed-door meeting on policing AI
▼ + stars: | 2023-09-13 | by ( Associated Press | ) www.businessinsider.com time to read: +4 min

Some of the world's biggest tech leaders gathered in Washington, DC for a closed-door forum on AI. Elon Musk, Mark Zuckerberg, Bill Gates, and other tech leaders all were scheduled to attend. The closed-door forum on Capitol Hill included almost two dozen tech executives, tech advocates, civil rights groups and labor leaders. Tech leaders outlined their views, with each participant getting three minutes to speak on a topic of their choosing. AdvertisementAdvertisementStill, some senators were critical of the private meeting, arguing that tech executives should testify in public.

Persons: Elon Musk, Mark Zuckerberg, Bill Gates, Musk, Chuck Schumer, Meta's Mark Zuckerberg, Tesla, OpenAI's Sam Altman, Schumer, Sen, Mike Rounds, Eric Schmidt, Zuckerberg, Arvind Krishna, Josh Hawley, Hawley, Richard Blumenthal, Conn Organizations: Service, Capitol, Microsoft, Tech, IBM Locations: Washington ,, Wall, Silicon

☆ Charter planes are descending on the Nevada desert — and the pop-up Black Rock City airport — as tech bros and billionaires gather for Burning Man
▼ + stars: | 2023-09-02 | by ( Grace Kay | Taylor Rains | Jordan Hart | ) www.businessinsider.com time to read: +7 min

Hundreds of flights have landed in Black Rock City for Burning Man — tech bros' favorite party. AdvertisementAdvertisementOver 880 flights descended on Black Rock Desert's pop-up airport this week as the playa opened shop for Burning Man. Jettly CEO Justin Crabbe told Insider in 2019 that the roundtrip flight from New York to Black Rock City cost $55,000. A Burning Man spokesperson did not respond to a request for comment ahead of publication. According to Burner Express' website, other air carriers can fly into Black Rock City, but those who wish to must email and register with the company in advance.

Persons: Elon Musk, Meta's Mark Zuckerberg, Ray Dalio, doesn't, Justin Crabbe, Alex Sgarlata, Sgarlata, Kathleen Bangs Organizations: Black Rock City, Rock City, wasn't, Black, Tahoe, Rock City Airport, Burner, ATC, Oakland, SF, Man, Pilatus, Cessna, Maxar Technologies, REUTERS Locations: Black Rock, Nevada, San Francisco, playa, San Francisco and New York, New York, Southern California, Reno, Rock

☆ Burning Man, tech bros' favorite party, is in jeopardy because of Tropical Storm Hilary
▼ + stars: | 2023-08-22 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Burning Man is facing challenges due to flooding from Tropical Storm Hilary. The gates to the Black Rock Desert event remained closed on Tuesday. AdvertisementAdvertisementBurning Man, the festival beloved by Silicon Valley's elite, is at risk of quenched by Tropical Storm Hilary. Nevada's Black Rock Desert, where the event takes place each year, closed its gate due to flooding caused by the rains of Tropical Storm Hilary, The San Francisco Standard reported. "Temporary gate closures are not abnormal," a Burning Man rep told Insider.

Persons: Hilary, Nevada's, Gerlach, we're, Sergey Brin, Larry Page, Elon Musk, Jeff Bezos, Meta's Mark Zuckerberg, Elizabeth Holmes Organizations: Morning, Silicon, San Francisco Standard, Google, Amazon Locations: Tropical, —, Rock

☆ Italy stands ready to host as Musk talks up Zuckerberg rumble
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +2 min

Musk and Zuckerberg have been egging each other into a mixed martial arts (MMA) cage match since June. At one point, Musk said the fight would take place in Rome's Colosseum, but Italy ruled that out. "Everything in camera frame will be ancient Rome, so nothing modern at all. I spoke to the PM of Italy and Minister of Culture. A day later, Zuckerberg, who has posted pictures of matches he has won on his company's Instagram platform, asked Musk to "send location" for the proposed throwdown.

Persons: Elon Musk, Meta's Mark Zuckerberg, Zuckerberg, Musk, Gennaro Sangiuliano, Angelo Amante, Federico Maccioni, Crispian Balmer Organizations: Twitter, of Culture, Italy's, Thomson Locations: Rome, U.S, Italy, jiujitsu

☆ Elon Musk's Twitter rebrand sparks massive rallies in obscure crypto tokens with 'X' names
▼ + stars: | 2023-07-25 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Elon Musk rebranded Twitter to X this week. It led to a price spike for some X-branded crypto tokens. One token saw a 1,200% rally after Musk's announcement, even though the project had shut down in May. Newer X-branded tokens also appeared on crypto exchanges following the rebrand of Musk's company. "But whether all the disappointed Twitter users go to Threads and actually stay there remains to be seen."

Persons: Linda Yaccarino, Yaccarino, Mark Zuckerberg, Ali Mogharabi Organizations: Elon, Service, Twitter, Traders, SpaceX, Morningstar Locations: Wall, Silicon, Elon Musk's, we're

☆ Elon Musk's xAI and OpenAI are going head-to-head in the race to create AI that's smarter than humans
▼ + stars: | 2023-07-17 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Elon Musk and Sam Altman are racing to create superintelligent AI. Musk said xAI plans to use Twitter data to train a "maximally curious" and "truth-seeking" superintelligence. Elon Musk is throwing out challenge after challenge to tech CEOs — while he wants to physically fight Meta's Mark Zuckerberg, he's now racing with OpenAI to create AI smarter than humans. On Saturday, Musk said on Twitter Spaces that his new company, xAI, is "definitely in competition" with OpenAI. Over a 100-minute discussion that drew over 1.6 million listeners, Musk explained his plan for xAI to use Twitter data to train superintelligent AI that is "maximally curious" and "truth-seeking."

Persons: Elon Musk, Sam Altman, Musk, Mark Zuckerberg, —, Meta's Mark Zuckerberg, he's, OpenAI, Altman, Semafor, Ilya Sutskever, Jan Leike, Sam Altman — Organizations: Twitter, Intelligence

☆ Marc Andreessen throws his support behind an Elon Musk-Mark Zuckerberg cage fight in a talk with Peter Thiel
▼ + stars: | 2023-07-14 | by ( Will Gendron | ) www.businessinsider.com time to read: +4 min

Marc Andreessen, speaking on a panel with Peter Thiel, backed a Zuckerberg-Musk cage fight. Andreessen and Thiel also said, unrelated, that attendees should homeschool their kids. Billionaire investor Marc Andreessen is apparently rooting for Tesla's Elon Musk and Meta's Mark Zuckerberg to square off in a cage match. He and PayPal cofounder Peter Thiel also urged the event's attendees to homeschool their children, Puck reported. Representatives for both Andreessen and Thiel did not immediately respond to Insider's request for comment.

Persons: Marc Andreessen, Peter Thiel, Zuckerberg, Andreessen, Thiel, Elon Musk, Mark Zuckerberg, Puck's Dylan Byers, Andreessen Horowitz, Puck Organizations: Morning, Allen & Company, Allen, Co, Zuckerberg, New York Times, Thiel Locations: Sun Valley , Idaho, Idaho, Silicon

☆ A lonely tech worker's post about being 'a lot happier' after returning to the office sparked a debate around if that's only for people without kids or a hard commute
▼ + stars: | 2023-06-20 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

A tech worker's post sparked a debate on who benefits or is inconvenienced by returning to the office. Some workers said the return to in-person work helped them feel less isolated. Other workers pointed out that it's less ideal for workers with kids or long commutes. In the Blind post, the employee broke down his average day now that his company works in person, including a one-hour commute by train. A Microsoft employee added that returning to in-person work would be most ideal for people who lived in areas with high quality public transportation.

Persons: I've, Meta's Mark Zuckerberg Organizations: Microsoft, Street Journal

☆ Gen-Z is taking courses on how to send an email and what to wear in the office, according to a WSJ report
▼ + stars: | 2023-06-19 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Some companies and colleges are offering new grads training on how to work in person, WSJ reported. The courses can cover everything from office chitchat to work attire and meal-time etiquette. Some experts say Gen-Z is lacking in soft skills due to virtual classes and remote internships. Some companies and universities have already begun offering training to help Generation-Z employees adapt to the office, according to a new report from The Wall Street Journal. Since, the company has begun requiring its workers to come into the office for at least three days a week.

Persons: chitchat, Sandy Torchia, PwC, Proviti, Scott Redfearn, Marla McGraw, Spokespeople, Helen Hughes, Meta's Mark Zuckerberg Organizations: Wall Street, KPMG, Journal, Deloitte, Financial Times, Millennials, Michigan State, Proviti, MSU, Miami University, Leeds University Business School, BBC

☆ Why CEOs are changing directions faster than ever
▼ + stars: | 2023-05-11 | by ( Rebecca Knight | Tim Paradis | ) www.businessinsider.com time to read: +8 min

CEOs are changing their corporate strategies more frequently for many reasons. Some CEOs didn't do the necessary medium- and long-term planning when they made their original decisions, and now they're being forced to backtrack. A new, lightning-fast pace of businessThe rapidly changing business environment makes one thing clear: For CEOs, the day-to-day marathon of running a company feels much more like a sprint. The average compensation in 2021 for CEOs of the top US companies was 399 times that of the average worker. Changing a strategy is one thing, but how a CEO communicates that change is another — particularly because these pivots are likely to happen more frequently.

☆ White House snubs Mark Zuckerberg by leaving him off the list for its AI summit with tech leaders
▼ + stars: | 2023-05-06 | by ( Hasan Chowdhury | Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

The Biden administration met with various CEOs from tech companies to discuss AI. However, a White House official told a CNN reporter that Meta was not invited. Meta's Mark Zuckerberg was notably absent from a meeting with White House officials to discuss AI development. A White House official told CNN reporter Donald Judd that Meta had not been invited. Meta and the White House did not immediately respond to Insider's request for comment.

☆ The TikTok CEO's day in Congress was a 'disaster' that means the app will still likely get banned or sold, Wall Street says
▼ + stars: | 2023-03-23 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +5 min

TikTok CEO Shou Zi Chew testified in front of US Congress, amid calls for a forced sale or ban. But after hours of grilling, the testimony likely had the opposite effect. A sale or ban of TikTok is still likelyWithout a radical shift in the conversation, the status quo is upheld. Which means that the same question is now being asked: Is TikTok more likely to be forced to sell, or will it be banned outright? "It's very possible that Congress advances these bills and, and passes them, but those bills won't ban TikTok," he said.

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