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☆ Meet Mona Patel, the tech entrepreneur and philanthropist who stole the show at the Met Gala
▼ + stars: | 2024-05-09 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +4 min

Read previewOn Monday night, the biggest fashion event of the year took place in New York City: the Met Gala . AdvertisementBut few made as many waves as Mona Patel, an entrepreneur who wore a custom Iris van Herpen gown to her first Met Gala. Mona Patel attends the 2024 Met Gala. Mona Patel turned heads at the 2024 Met GalaThanks to the dramatic ensemble she wore to make her Met Gala debut, Patel was among the most talked-about attendees of the event. Mona Patel at the 2024 Met Gala.

Persons: —, Mona Patel, Iris van Herpen, Patel, Sean Zanni, Vogue, Anna Wintour, Emma, John Shearer, Casey Curran, Mike Coppola, Chris Martin, Edgar Martin, Sidney Jamila, Roach — Zendaya's, Roach Organizations: Service, Metropolitan Museum, Art's Costume, Business, Rutgers University, Haute Mona, Forbes, LinkedIn, Harvard Business School, Stanford Graduate School of Business, MIT Sloan School of Management, CareFirst, Couture, Vogue India Locations: New York City, India, Florida, Mumbai

A general view of the atmosphere during The SDI Takeover @ Dave & Buster's in Los Angeles on June 23, 2022Arcade giant Dave & Buster's is taking its games to a new level by offering social wagering on its app. Customers can soon make a friendly $5 wager on a Hot Shots basketball game, a bet on a Skee-Ball competition or on another arcade game. Dave & Buster's, started in 1982, now has more than 222 venues in North America, offering everything from bowling to laser tag, plus virtual reality. The company says it has five million loyalty members and 30 million unique visitors to its locations each year. "We're thrilled to work with Lucra to bring this exciting new gaming platform to our customers,"said Simon Murray, senior vice president of entertainment and attractions at Dave & Buster's.

Persons: Buster's, We're, Lucra, Simon Murray, Dylan Robbins, Michael Madding, Robbins, Madding, Goldman Sachs, Marc Lasry, John Isner, Julie, Zach Ertz Organizations: SDI, Stanford Graduate School, Business, Raptor, SeventySix, Dupr, @ & ' Locations: Los Angeles, North America

☆ The big challenge for Wall Street CEOs this spring: keeping both of their jobs
▼ + stars: | 2024-04-08 | by ( Meghan Morris | ) www.businessinsider.com time to read: +3 min

Read previewA trio of top Wall Street bosses is facing investor agitation this spring over their jobs. The attempts to add more independent oversight to the firms' boards of directors is a public rebuke to those CEOs. Last week, top proxy firms Glass Lewis and Institutional Shareholder Services recommended Goldman and BofA separate their CEO-chair jobs. AdvertisementA cyclical history of splitting CEO and chairman rolesThese proposals cycle in and out of fashion, and Wall Street has seen plenty of similar ballot questions, from shareholders large and small. Large companies — like the trio of Wall Street firms now — were targeted much more often for shareholder proposals to split the jobs than the small companies.

Persons: —, Goldman Sachs, David Solomon, Larry Fink, Brian Moynihan, Glass Lewis, Goldman, BofA, Moynihan Organizations: Service, Goldman, BlackRock, Bank of America, Business, Institutional, Exxon, Stanford Graduate School of Business, Stanford, Wall Street

☆ Ditch these 10 common crutch phrases, says Stanford expert—they ‘undermine our competence and intelligence'
▼ + stars: | 2024-04-04 | by ( Ashton Jackson | ) www.cnbc.com time to read: +2 min

But beware, says Stanford University communication expert Matt Abrahams: They can get you into trouble, by negatively impacting the way other people see you. Crutch phrases often include "hedging language" that water down your sentences and make you seem less smart, he says. "[They] can actually undermine our competence and intelligence," Abrahams, a communication consultant and organizational behavior lecturer at the Stanford Graduate School of Business, tells CNBC Make It. "Saying something like, 'So what I hear you saying is,' demonstrates that you've actually really listened to the person. Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.

Persons: Matt Abrahams, Abrahams, I'd, you've, Wharton, I've Organizations: Stanford University, Stanford Graduate School of Business, CNBC, Harvard

☆ Don't overlook these 3 tax moves that could save you thousands, experts say
▼ + stars: | 2024-04-04 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

It could also mean taking a few minutes to click around the deductions page on your tax software to make sure you're not leaving money on the table. Here are three tax moves that experts say people tend to overlook. If you didn't hit your maximum contribution for 2023, you can retroactively direct funds to those accounts for the 2023 tax year. If you have children or other dependents, for instance, your tax prep software will likely guide you to the Child Tax Credit and the Child and Dependent Care Credit. "You're not going to enter something in wrong and the program's not going to give you the Child Tax Credit.

Persons: Mark Jaeger, Hunt, Jaeger, Ed deHaan, deHaan, de Haan Organizations: Child Tax, Care, American Opportunity, Tax, Stanford Graduate School of Business, Research Locations: TaxAct

☆ These 3 tax rules weren't a big deal last year—now they could cost you thousands, experts say
▼ + stars: | 2024-03-26 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

Some forms that may not have been on your radar last year could drastically raise or lower your bill for tax year 2023, experts say. Here are three tax documents you may have forgotten about last year that could be important this tax season. 1099-INT for savings accountsYou always owed federal income tax on interest from savings accounts. Even if you forgot to report a chunk of your interest income, "the main story is not to panic. For 2023, you may receive a Form 1099-MISC or 1099-B from the financial institution you use to trade crypto.

Persons: Ed deHaan, you've, Mark Jaeger, Jaeger, Matt Metras Organizations: Stanford Graduate School of Business, Federal Reserve, IRS, MDM Financial Services, CNBC Locations: TaxAct

☆ Young Entrepreneurs Find a Way to Indulge Their C.E.O. Dreams
▼ + stars: | 2024-03-15 | by ( Nell Gallogly | ) www.nytimes.com time to read: +1 min

In 2018, Mr. Silva enrolled at the Stanford Graduate School of Business with the goal of starting his own company. “I was going to live the Stanford dream,” he said. Instead of starting a company from scratch — Mr. Silva had co-founded one before business school and even been its chief executive — he could buy one and run it. Mr. Silva, 34, was intrigued. After raising a search fund of more than $30 million from a small group of investors, Mr. Silva bought MásLabor, a Virginia consulting firm specializing in employment visas, in July 2021.

Persons: Edward Silva, Silva, ”, “, —, . Silva, V.C.s Organizations: Stanford Graduate School of Business, Stanford, MásLabor Locations: Virginia

☆ 3 simple ways to become more influential at work, says Stanford expert: ‘There’s nothing more powerful’
▼ + stars: | 2024-03-06 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

You don't have to be a CEO, or even a manager, to be influential at the office. Getting your coworkers to listen to and support your ideas boils down to just three emotional intelligence techniques, says Stanford University lecturer and communication expert Matt Abrahams. The advice is timely, Abrahams adds: Hybrid and remote work mean most entry- and mid-level Gen Z and millennial employees get less face time with their bosses. "You really are forging your own way and need to get others to at least support, if not follow, the things you're trying to do." Find alliesWhenever you find yourself in a room of people who don't usually work with, you have an opportunity to form new relationships.

Persons: Stanford Graduate School of Business Matt Abrahams, Matt Abrahams, Abrahams, I'm Organizations: Stanford Graduate School of Business, New York Marriott Marquis Hotel, Stanford University, CNBC Locations: New York City

☆ How Hyundai Motor Group became the world's third-largest automaker
▼ + stars: | 2024-02-29 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +2 min

Hyundai Motor Group is the world's third-largest automaker in the world by volume — but it wasn't always so. The three auto brands in the automaker's stable — Hyundai, Kia and Genesis — are nipping at the heels of well-established competitors, and winning an ever-growing list of industry awards. Tesla still dominates the electric vehicle industry, but Hyundai Motor Group is the second best-selling EV manufacturer in the U.S."On the electrification side, Hyundai has done a really great job," said Sam Abuelsamid, principal research analyst at Guidehouse Insights. "I think Hyundai Motor Group isn't a car company," said Jose Munoz, the global president and chief operating officer at Hyundai. Watch the video to learn more about how Hyundai became the third-largest global automaker.

Persons: William Barnett, Tesla, Sam Abuelsamid, They've, Jose Munoz Organizations: Hyundai Motor, Hyundai, Kia, American, Stanford Graduate School of Business, Guidehouse, United Auto Workers Locations: America, U.S, Singapore

☆ YouTube CEO's No. 1 success tip: It's 'the secret sauce'—I wish I got 'that advice early in my career'
▼ + stars: | 2024-01-31 | by ( Megan Sauer | ) www.cnbc.com time to read: +1 min

YouTube CEO Neal Mohan has four words of advice for anyone looking to succeed: Be true to yourself. "I wish somebody had given me that advice early in my career, because nothing rings more true." The experience at YouTube, Mohan said, taught him about the value of authenticity. By his estimation, the most successful creators on YouTube are transparent about their real lives and show their personalities in videos. "Whether they're sports creators, whether they're musicians or artists … of course, they're incredibly talented and know how to tell stories, but they're true to themselves," Mohan said.

Persons: Neal Mohan, Mohan Organizations: YouTube, Stanford Graduate School of

☆ Millennials and Gen Z are giving up on one of their core values and investing more like boomers
▼ + stars: | 2024-01-11 | by ( Cork Gaines | ) www.businessinsider.com time to read: +9 min

Preference for environmental, social, and governance — or ESG investing plummeted in 2023 among millennials and Gen Z. The survey examined the support for environmental, social, and governance (ESG) issues and investing across different age groups. Investments receive an ESG rating, and ESG investors pick assets that align with their views on these subjects. AdvertisementIn the survey, preference for ESG investing among millennials and Gen Z — aged between 18 and 41 — plummeted significantly compared to the year before. Tim Paradis and Alex Nicoll of Business Insider explained in December just how controversial the topic of ESG investing has become.

Persons: Z, Gen Zers, Tom Grill, Amit Seru, Seru, David F, Tim Paradis, Alex Nicoll, ESG, Paradis, Nicoll, Sara Eisen, Eisen Organizations: Service, Stanford University, Hoover Institution, Rock Center, Corporate, Investments, Stanford Graduate School of, Stanford Graduate School of Business, United, Investment, Republican, Business, Europa Press Locations: United States

☆ Spora Health's founder painted a rosy portrait of his healthcare startup. The reality is more complicated.
▼ + stars: | 2023-10-30 | by ( ) www.businessinsider.com time to read: +14 min

The way Dan Miller told it, his startup Spora Health was crushing it, providing high-quality care to "thousands" of people online. The startup had secured at least one big contract, with Apple, according to three former Spora employees and another source close to Spora. Four of them told Insider they either no longer worked with Spora or hadn't seen Spora patients in a year. Two doctors listed on Spora's website as "featured Spora providers" also told Insider that they no longer worked for the startup. Another former clinician said she only ever treated a handful of Spora patients.

Persons: Dan Miller, Miller, Spora, it's, UnitedHealthcare, Aetna didn't, paychecks, hadn't, he's, It's, —, we've, " Miller, Shelby Livingston, Rob Price, Emmalyse Brownstein, Ryan Pickrell, Gloria Dawson, Stephanie Hallett, Alcynna Lloyd, Hayley Peterson Organizations: Company, TechCrunch, Spora, US Securities and Exchange Commission, Apple, Aetna, Stanford Graduate School of Business, Human Ventures, MaC Venture, SEC Locations: Spora, Level's, slivingston@insider.com

☆ A millennial private equity founder explains how the 'girl math' taking over social media can help more than it hurts
▼ + stars: | 2023-08-29 | by ( Jennifer Streaks | Senior Personal Finance Reporter | Read More | ) www.businessinsider.com time to read: +4 min

Girl math is a viral Tiktok trend where women justify spending with their discretionary income. Girl math is often about quality of life decisions and the impact of your spending's value. Maybe girl math isn't the trap it seemsFinancial expert Kelly Ann Winget, the millennial founder of a solo-female-founded private equity fund, says that girl math isn't exactly what its critics describe. "If women are using girl math to justify spending that doesn't derail their financial well-being, that is a good thing. "Instead of focusing on girl math so much, think about ways to secure your income," Winget tells Gen Zers.

Persons: Kelly Ann Winget, you've, it's, Christopher Bechler, Huang, Joshua I, Morris, Taylor Swift, Winget, Gen Zers Organizations: Service, Stanford Graduate School of Business Locations: Wall, Silicon

What young investors wantRecent survey data indicates that Cohen isn't alone. And active young investors are willing to give up returns to see that goal through. Nearly a fifth of the Gen Z investors said they would accept returns between 9% and 11.8%, rather than the full 12% average return. The data comes as accountability measures and standards for ESG investing are hotly debated. "What we see with ESG investing is that it creates something that you can signal to other people."

Persons: Hannah Cohen, Cohen, Cohen isn't, X, Gen, boomers, Matthew Ivler, I'm, Ivler, Joe Biden, Julie O'Brien, O'Brien Organizations: Energy ETF, Global, Autonomous & Electric Vehicles ETF, U.S . Bank, Chevron, Edison International, Resources ETF, Stanford Graduate School of Business, Rock Center, Corporate Governance, Hoover Institution, U.S . Department of Labor, Republicans Locations: Washington

☆ CEO built her $96 million company with a simple 2-word lesson: It's 'the most powerful thing you can do'
▼ + stars: | 2023-08-16 | by ( Megan Sauer | ) www.cnbc.com time to read: +4 min

Having a good idea wasn't enough to win those colleagues over, she said — she needed to be likable. The lesson proved valuable when Hyman came up with the idea for Rent the Runway six years later in 2008, she said. The pair cold-emailed Diane von Furstenberg, and by luck, landed a meeting. As Hyman recounted, von Furstenberg worried that allowing her clothes to be rented for cheap would "cannibalize" her consumer base. In other words, they could help von Furstenberg grow her consumer base.

Persons: Jennifer Hyman, —, Hyman, wasn't, didn't, Jennifer Fleiss, Diane von Furstenberg, Von Furstenberg, Hyman wasn't fazed, von Furstenberg, Warren Buffett Organizations: Stanford Graduate School of, Starwood Hotels, Resorts, Harvard University, Social Psychology

☆ Rent the Runway CEO started her company as a Harvard graduate student—now it's worth $120 million
▼ + stars: | 2023-07-30 | by ( Megan Sauer | ) www.cnbc.com time to read: +4 min

Rent the Runway co-founder and CEO Jennifer Hyman came up with the idea for her clothing rental company, fittingly, in a closet. Hyman recounted a story from Rent the Runway's early days, when she and Fleiss cold-called designer Diane von Furstenberg. They landed a meeting, but von Furstenberg scoffed at their idea, Hyman said. It was an effective argument, and von Furstenberg was struck by the co-founders' openness and ability to engage in dialogue, said Hyman. Von Furstenberg eventually partnered with the brand and introduced the co-founders to other fashion labels and publicists, Hyman added.

Persons: Jennifer Hyman, Hyman —, —, Bergdorf Goodman, Hyman, She'd, Jennifer Fleiss, It's, Hyman hadn't, Diane von Furstenberg, von Furstenberg scoffed, von Furstenberg, Von Furstenberg Organizations: Harvard University, Stanford Graduate School of, Stanford, Hyman's, Forbes

☆ Galym Imanbayev went from Stanford School of Medicine to venture capital. Here's why he says his medical training has been so crucial to becoming an investor at Lightspeed.
▼ + stars: | 2023-06-30 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +8 min

During his senior year of high school, Imanbayev discovered another interest, entirely by chance. After mistiming his MCAT, Imanbayev faced one gap year before he could start medical school. As he jumped into the grueling demands of medical school, Imanbayev said that for everything he studied, there were additional things he wanted to add on and learn. Helping Lightspeed push into healthtech investingSince 2020, Imanbayev has been a partner at Lightspeed focusing on the health sector. Imanbayev himself has spearheaded investments for Lightspeed in the healthcare-equity startup Soda Health and the virtual-care startup Wheel.

Persons: Galym Imanbayev, he'd, Mark Zuckerberg, Larry Ellison, Jack Dorsey, Imanbayev, Imanbayev's, Dean Lloyd Minor's Organizations: Stanford, VC, Lightspeed Venture Partners, Co, Oregon Health & Science University, Martis, Stanford School of Medicine, Stanford Graduate School of Business, Lightspeed, Ancora Biotech, Soda Health Locations: Kazakhstan, Soviet Union, Portland , Oregon

☆ Airbnb CEO shares the best advice he's ever received—it's 'counterintuitive to almost everything everyone says’
▼ + stars: | 2023-05-24 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

A single piece of advice from an investor helped Airbnb CEO Brian Chesky grow his company from a struggling startup to an industry giant worth roughly $70 billion. That's according to Chesky himself, who told attendees at a recent Stanford Graduate School of Business event that it was "the best piece of advice I ever got." The advice: "Focus on 100 people that love you, rather than getting a million people to kind of like you," Chesky said. It came courtesy of Paul Graham, the co-founder of tech startup accelerator Y Combinator, who advised Airbnb's co-founders — Chesky, Joe Gebbia and Nathan Blecharczyk — to focus on a tiny audience of potential customers as they built their company. For early Airbnb, that meant creating experiences for guests that stood out from staying at a hotel or crashing on a couch.

☆ Analysis: As sun sets on LIBOR, its successor rate may heighten bank risks
▼ + stars: | 2023-05-22 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +5 min

The transition to the Secured Overnight Funding Rate (SOFR) has been well-telegraphed for years and U.S. banks are mostly prepared for the new rate regime. Typically in a crisis, the cost of bank funding rises: rates on commercial paper and bond issuance increase as investors demand a premium to buy bank debt. This was highlighted by the New York Fed in a study released in December 2022 and updated last February. Bank funding costs have increased with the surge in interest rates since the Fed began tightening last year. "The transition has largely taken place and the rates on SOFR have risen in tandem with policy rate increases."

☆ When Brian Chesky co-founded Airbnb, his mom said, 'You're not an entrepreneur, you're unemployed'—now he's worth $9.3 billion
▼ + stars: | 2023-05-03 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

That's according to Chesky, who told the story at a recent Stanford Graduate School of Business event. Months before Airbnb's scheduled initial public offering, business dropped 80% in eight weeks during Covid-19 lockdowns, Chesky told Stanford students. Today, Airbnb's market cap is $75.49 billion, and Chesky's net worth is $9.3 billion, according to Forbes. "I never focused on trying to make a lot of money," Chesky said. DON'T MISS: Want to be smarter and more successful with your money, work & life?

☆ Airbnb CEO says his $75 billion company was rejected by investors—until a $40 box of cereal turned things around
▼ + stars: | 2023-04-18 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

Airbnb CEO Brian Chesky and his two co-founders did it with $40 boxes of cereal. Specifically, they sold self-designed cereal boxes featuring then-presidential candidates Barack Obama and John McCain as a breakfast option in Airbnbs. The cereal proved popular, selling more than 1,000 boxes and making $30,000 for the company, Chesky said. It might have never happened without the cereal: Airbnb was rejected by multiple major investors during its first year of operations, Chesky noted in a 2015 Medium post. "The investors that rejected us were smart people, and I am sure we didn't look very impressive at the time," he wrote.

“I have argued for years that the biggest banks in the world are still too big to fail. In practice, however, the economic damage would be considerable.”Keller-Sutter was at the center of a government-orchestrated rescue of Credit Suisse by its larger rival UBS (UBS) earlier this month. Global standards for dealing with teetering “too big to fail” banks were key a part of the package of rules introduced after the global financial crisis. They were designed to make it possible to wind down a big bank without destabilizing the financial system or exposing taxpayers to the risk of losses. The rest is lent out at higher interest rates or invested, because that’s how big banks make most of their profit.

“I have argued for years that the biggest banks in the world are still too big to fail. In practice, however, the economic damage would be considerable.”Keller-Sutter was at the center of a government-orchestrated rescue of Credit Suisse by its larger rival UBS (UBS) earlier this month. They were designed to make it possible to wind down a big bank without destabilizing the financial system or exposing taxpayers to the risk of losses. Although some investors in Credit Suisse bonds lost everything, Swiss taxpayers are still on the hook for up to 9 billion Swiss francs ($9.8 billion) of potential losses arising from certain Credit Suisse assets. The rest is lent out at higher interest rates or invested, because that’s how big banks make most of their profit.

☆ Amazon and Meta's 48,000 job cuts usher in Big Tech's new mantra: Revenue per employee
▼ + stars: | 2023-03-21 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Amazon and Meta say their combined 48,000 job losses are about getting leaner. All told, the two firms have cut 48,000 jobs across two waves of layoffs in less than six months. Discussing Twitter's remaking under new owner Elon Musk, Rabois noted that Musk is "steering hard" in terms of revenue per employee. A 2009 analysis of Big Tech's performance found Google's revenue per employee was over $1 million, the highest of all tech firms. Management experts say that cuts make workers jittery, weakening their productivity and firms' ability to bring in new talent.

☆ Layoffs are still historically low, so why does it feel like everyone's losing their job?
▼ + stars: | 2023-03-09 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +9 min

The layoffs and discharges rate in January was 1.1%, which remains historically low. While BLS data may show a low US layoff rate overall, tech layoff announcements are important, given Pollak said that tech and finance are "synonymous with Americans' aspirations generally." "Those markets are very exposed to tech layoffs, and tech plays a disproportionate role in the economy," Terrazas added. Pollak told Insider that the layoffs at tech companies are "relatively small" and that "many companies also are not pursuing layoffs across the board." Despite the layoff rate being very low, job seekers may still be concerned about these headlines.

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