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☆ We have more insights as to where the economy is headed — and it's not good
▼ + stars: | 2024-04-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

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 . In today's big story, we're looking at how the latest GDP data has shifted the expectations of where the economy is headed. Now, the economy will need some type of event (see: bubble popping) for rate cuts to become an option anytime soon, Miskin said. Energy price shocks could bring the world economy to a "vulnerable moment," chief economist Indermit Gill warned.

Persons: —, TikTok, they're, you'd, Jia Feng, It'll, Insider's Madison Hoff, It's, Jerome Powell, Anna Moneymaker, BI's Filip De Mott, Jamie Dimon, Matt Miskin, Miskin, Mark Zuckerberg, C, Cox, Jenny Chang, Rodriguez, Goldman Sachs, Guess what's, Indermit Gill, Alphabet's, Redmond, Tyler Le, Doug McMillon, execs, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Reserve, stagflation, JPMorgan, Wall Street, John Hancock Investment Management, Galatioto Sports Partners, Bank, Google, Big Tech, Microsoft, Health, Linkedin, YouTube, ExxonMobil Locations: Chevron, New York, London

☆ Walmart's CEO, who started on the company's loading docks, shares 3 tips for how to move up the corporate ladder
▼ + stars: | 2024-04-25 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. In an interview with the Stratechery Podcast, he offered three tips:Do your job well"Don't take your current job for granted," he said. Advertisement"It was pretty dramatic and I think the team did a fantastic job," McMillon said. Responses will be kept confidential, and Business Insider strongly recommends using a personal email and a non-work device when reaching out.

Persons: —, Doug McMillon, he's, McMillon, doesn't, You've, bartenders, Dominick Reuter Organizations: Service, Business, Walmart Locations: South Dakota

☆ Insiders break down Amazon's sports strategy and the low-key but powerful exec behind it, as the tech giant eyes NBA rights
▼ + stars: | 2024-03-29 | by ( Lucia Moses | ) www.businessinsider.com time to read: +7 min

One of them is Jay Marine, who oversees Amazon's sports business as VP of Prime Video and global head of sports. Chris Graythen/Getty ImagesMarine's next move could be for the NBA, which Amazon craves for its young, global fan base. Advertisement"For us, everything starts with Prime," Marine told CNBC in a rare interview last fall. AdvertisementApart from its big bet on "TNF," Amazon's sports moves have been largely incremental. The deal lets Diamond continue airing local NBA broadcasts, which makes it more likely Amazon will bid for national NBA rights, analyst Ben Thompson of Stratechery wrote.

Persons: —, Jeff Bezos, Jay Marine, Bezos, Andy Jassy, Chris Webber, Tyrone Wheatley, scrappy, Chris Graythen, Ben Thompson, Stratechery, Marine, Patrick Crakes, it's, Marie Donoghue, Mike Hopkins, Amazon's, John Kosner, Donoghue, Kantar, signups, He's Organizations: Service, Marine, Business, US, Premier League soccer, Industry, The, Sports, WBD, NASCAR, NBC, NBA, Amazon, Disney, Warner Bros, Discovery, Apple, Netflix, CNBC, Amazon MGM Studios, Premier Boxing Champions, Diamond Sports, Diamond, Premier League, WNBA, National Women's Soccer League . Media, ESPN, DraftKings, Warner Bros . Locations: London, The New Jersey, Amazon

☆ There are growing calls for Google CEO Sundar Pichai to step down
▼ + stars: | 2024-03-01 | by ( Hugh Langley | ) www.businessinsider.com time to read: +5 min

The slip-up was so bad it sent the company's stock tumbling, and had CEO Sundar Pichai address the troops, calling the situation "completely unacceptable." The debacle has strengthened the narrative that Google is suddenly behind in the AI race, and now there's a growing chorus of voices calling for CEO Sundar Pichai to be replaced. Pichai, who was appointed CEO of Google in 2015, and Alphabet in 2019, has proven a strong peace-time CEO for the company. He's been an effective and steady hand who protects Google's prized search business and deals diplomatically with regulators. Responding to a tweet by Color Health CEO Othman Laraki, who said Google as facing an "unsolvable problem," Mayer defended Google somewhat.

Persons: —, Sundar Pichai, Ben Thompson, Googlers, Mark Shmulik, chatbot, He's, Pichai, Aravind Srinivas, Sundar, Srinivas, Marissa, Marissa Mayer, Othman Laraki, Mayer, They've, Hugh Langley Organizations: Service, Google, Business, Color, Gartner Locations: Silicon Valley

☆ Google has another 'woke' AI problem with Gemini — and it's going to be hard to fix
▼ + stars: | 2024-02-26 | by ( Peter Kafka | ) www.businessinsider.com time to read: +5 min

Read previewGoogle spent much of last week getting hammered for supposedly creating a "woke" AI chatbot and eventually apologized for "missing the mark." AdvertisementBut it's also going to be a problem for Google because it has already said it is trying to influence the way its AI produces results. And that's going to be red meat for anyone who wants to argue that Google — or any other Big Tech company — is "too woke." Last week, after getting similar criticism about the way Gemini handled race when it came to AI-generated images, Google "paused" Gemini's ability to create images. Pulling Gemini altogether would be a considerable black eye for the company, and one I think it will be incredibly reluctant to do.

Persons: —, Ben Thompson, Gemini, Hitler, Elon Musk's, Thompson, Sundar Pichai, Marc Andreessen, it's, they're, Prabhakar Raghavan, Raghavan, Google's, I'm Organizations: Service, Business, Google, Meta, Microsoft, Big Tech, Gemini

☆ Netflix co-CEO says the app isn't on Apple's Vision Pro because it isn't worth their time yet
▼ + stars: | 2024-01-26 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +2 min

Read previewNetflix co-CEO Greg Peters isn't sold on Apple's Vision Pro yet. "I would say we'll see where things go with Vision Pro." Peters said Netflix concluded that its main audience would not substantially "benefit" from a dedicated app on the Vision Pro. His comments speak to deeper concerns surrounding the Vision Pro, which is set to launch next Friday. AdvertisementPeters acknowledged that there is "always" the chance that the success of the Vision Pro could change Netflix's decision.

Persons: —, Greg Peters isn't, Peters, we're, it's, Ming, Chi Kuo, we've, Mathias Döpfner, Axel Springer Organizations: Service, Apple's, Business, Vision, Netflix, Apple, Meta

☆ How Bob Iger's big plan to shrink Disney could pay off and how it could backfire, according to industry insiders
▼ + stars: | 2023-08-22 | by ( Lucia Moses | ) www.businessinsider.com time to read: +11 min

After a run of acquisitions during his first tour as Disney CEO, Bob Iger is looking to shrink the company. "They are our film studios, our parks business, and streaming, all of which are inextricably linked to our brands and franchises." Verizon has reached out to Disney about partnering on a new ESPN streaming service, The Information reported. 2024 will bring some clarity to Disney's streaming business. "The streaming business with ESPN going direct to consumer can generate a lot of subscriptions and hopefully be a positive earnings contributor.

Persons: Bob Iger, He's, Iger, Wells, Steven Cahall, MoffettNathanson's Michael Nathanson, Iger's, hasn't, Macquarie, Tim Nollen, Doug Shapiro, Shapiro, Disney, It'll, there's, Tim Cook, Eddy, Drew Angerer, Disney's, Penn, Joel Simkins, Stratechery's Ben Thompson, Thompson, — Iger, mused, signups, he's, Kevin Lansberry, I'm, Nollen Organizations: Disney, ABC, FX, Geographic, ESPN, Google, Netflix, Warner Bros, Discovery, Warner Bros . Discovery, Comcast, Marvel, Pixar, Apple, Walt Disney, Turner Broadcasting System, Apple's, Hulu, ESPN Iger, Penn Entertainment, Houlihan, Global Technology Group, LightShed Partners, Verizon, Flagship Locations: Orlando , Florida, Sun

☆ Bob Iger is moving to shrink Disney — here's how industry insiders see his playbook and its potential pitfalls: 'Everything is not OK'
▼ + stars: | 2023-08-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +11 min

After a run of acquisitions during his first tour as Disney CEO, Bob Iger is looking to shrink the company. He's looking to Disney's IP-driven parks, streaming, and film studios to drive growth. "They are our film studios, our parks business, and streaming, all of which are inextricably linked to our brands and franchises." 2024 will bring some clarity to Disney's streaming business. "The streaming business with ESPN going direct to consumer can generate a lot of subscriptions and hopefully be a positive earnings contributor.

☆ Stop comparing Zuck and Cook's headsets. They're built around sharply different visions of the future.
▼ + stars: | 2023-06-09 | by ( Matt Turner | ) www.businessinsider.com time to read: +3 min

Apple revealed its new headset, the Vision Pro, at its developer conference. But this comparison forgets that the two headsets are built around differing visions of future. Apple this week revealed its new Vision Pro mixed-reality headset, and comparisons were instantly drawn with Meta's own Quest headset. Then the price of Apple's headset, at $3,499, has been compared with the $500 cost of the Quest headset. Apple didn't mention the metaverse once when it unveiled the Vision Pro at WWDC, and barely mentioned gaming.

Persons: Nich Carlson, Apple, Mark Zuckerberg, Mark Zuckerberg's, Zuckerberg, Alex Heath, Ben Thompson Organizations: Apple, Vision, Morning, Vision Pro

☆ Apple's new Vision Pro is 'the future of the Mac', one of the top minds in tech says
▼ + stars: | 2023-06-07 | by ( Thomas Maxwell | ) www.businessinsider.com time to read: +5 min

Stratechery founder Ben Thompson believes that Apple's Vision Pro is the "future of the Mac." The Vision Pro will start at $3,499, which is a steep price, likely signaling the cost of manufacturing a complex product. An example of what Apple Vision Pro may look like at work. Those who attended WWDC in person and were able to try the Vision Pro have said that it's a product in search of a purpose. Apple Vision Pro AppleThompson notes that Apple is using "high-bandwidth connections" to share desktop screens with the Vision Pro, suggesting it might create a direct WiFi connection between the two devices to prevent lag.

Persons: Ben Thompson, Thompson, Apple, Apple Thompson, Meta Organizations: Apple, Vision, Mac

☆ TikTok CEO Shou Zi Chew got his start in tech at Facebook—now his app is its biggest competitor
▼ + stars: | 2023-03-25 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Prior to running the most popular social media app in the world, TikTok CEO Shou Zi Chew was an intern for one of his largest competitors. On Thursday, Chew sat before Congress to defend TikTok against spying claims as Congress and President Biden weigh a potential U.S. ban. "We are committed to [being] very transparent with our users about what we collect," Chew told the House Energy and Commerce Committee. Today, Facebook has 2.9 billion active users, according to Meta's 2022 Q4 earnings presentation. "The potential security, privacy, content manipulation concerns raised about TikTok are really not unique to us.

☆ The new Bing is acting all weird and creepy — but the human response is way scarier
▼ + stars: | 2023-02-23 | by ( Adam Rogers | ) www.businessinsider.com time to read: +12 min

It's a profit-making move designed to leverage our very human tendency to see human traits in nonhuman things. Look, I don't think we don't need to treat chatbots with respect because they ask us to. Making chatbots seem as if they're human isn't just incidental. So the real issue involving the current incarnation of chatbots isn't whether we treat them as people — it's how we decide to treat them as property. The robots don't care."

☆ Apple and Google have a symbiotic deal: ChatGPT will pressure the former to evaluate this relationship
▼ + stars: | 2023-02-10 | by ( Thomas Maxwell | Alistair Barr | ) www.businessinsider.com time to read: +6 min

Google has long benefited from a costly deal to be the default search engine on Apple devices. On top of the Apple deal, Google controls Android and Chrome, with roughly 71% and 65% of the smartphone and browser markets, respectively. Based on its understanding of Google's deal with Apple, Bernstein believes that a 3-year default search deal is coming up for renewal later this year. It's unclear whether Apple would want to change the default search engine to Bing, but it's always had a contentious relationship with Google. Apple's services business, which includes the search deal, was a bright spot in the company's most recent earnings report.

☆ The inside story of how Microsoft caught up with Google on AI, and the unlikely executive who made it happen
▼ + stars: | 2023-02-10 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +9 min

With OpenAI technology, Microsoft CEO Satya Nadella is challenging Google's online search monopoly. "Who'd have thought, even just a few months ago, that Google would be on their back foot," said Soma Somasegar, a former Microsoft executive. Google was also busy incorporating machine-learning and other AI technology into popular products such as Google Photos, Google Translate, and its search engine. Microsoft's new Bing search engine uses a newer version of GPT-3 to answer complex questions. Microsoft's positive feedback loopThe OpenAI deal laid the foundation for Microsoft to catch Google in the AI race.

☆ The walls are closing in on Google. Here's what it needs to do to survive.
▼ + stars: | 2023-02-09 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +7 min

Google needs to focus on building up its AI business while also keeping costs under control. Building up its AI business needs to be a top priorityThe events of the last few days show Microsoft and Google are clearly in an AI arms race — one that Google needs to win for its own sake. Google needs to double down on its own AI prowess right now, given the threat, Wall Street analysts said. However, they emphasize that Google needs to be thoughtful and show why its technology is better than OpenAI rather than being reactive. Maintaining efficiency while retaining an innovative cultureTo win in AI, however, Google needs to maintain its culture of innovation.

☆ Microsoft just laid out the $2 billion reason why it's going all in on ChatGPT
▼ + stars: | 2023-02-08 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +3 min

Microsoft said it can add $2 billion in revenue for every 1 percentage point of search share it gains. Microsoft's ad business already grew to $18 billion in the last 12 months. And search advertising is such a lucrative section of the roughly $500 billion digital ad market that it almost doesn't matter if Microsoft barely dents Google's dominance. Even growing its share of search users by a couple of percentage points could grow its revenue by billions of dollars. "The moneymaker for search advertisers is short-tail, transactional terms," Goodwin said.

☆ ChatGPT's founder blasts Google as a 'lethargic search monopoly' as the tech giant's AI war with Microsoft heats up
▼ + stars: | 2023-02-08 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

OpenAI CEO Sam Altman called Google a "lethargic search monopoly" in an interview on Tuesday. Google has said it's own ChatGPT rival, Bard, will be coming to the public in a matter of weeks. Altman said he sees tremendous upside to Microsoft's decision to incorporate OpenAI's technology into its search engine. Microsoft announced the integration of an AI language model into its "new Bing" search engine on Tuesday. Google's search engine represented over 91% of the global search market in the past 12 months, while Bing accounted for about 3%, according to data from SimilarWeb.

☆ Disney and other Hollywood giants spent billions chasing Netflix. But their strategy appears to have a major flaw.
▼ + stars: | 2023-02-03 | by ( Lucia Moses | ) www.businessinsider.com time to read: +7 min

Media companies are trying to get to streaming profitability but their underlying businesses are in worse shape than previously thought. The remedy is to cut content spending, which throws the whole business model out the window. After cheering on Hollywood players for massively spending on streaming content, Wall Street is looking less impressed. Bottom line is, the media business isn't as good as it used to be." But another warning sign for these companies is that in streaming, content may not be as valuable as once thought.

☆ Apple and Google are both at their biggest risk of disruption in over a decade
▼ + stars: | 2023-01-13 | by ( Matt Weinberger | ) www.businessinsider.com time to read: +7 min

This year, Apple and Google will both face their first real tests in a very long time. Apple could finally open its walled garden, potentially disrupting the App Store juggernaut. Google has spent the last decade-plus guarding its advertising business; Apple has built as many moats around its all-important iPhone business as possible, happily collecting App Store fees and Apple Music subscriptions. Let's look at how this is finally the year that Apple and Google will face their most meaningful competition yet. If the App Store opens up and the iPhone doesn't become a toxic hellstew, perhaps Apple will reconsider its approach.

☆ The world's biggest chipmaker is making a multi-billion dollar investment in the US even though it'll cost way more to make chips there. Here's why it decided to do it anyway.
▼ + stars: | 2022-12-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

Taiwan-based TSMC, the world's biggest chipmaker, announced a $40 billion investment in Arizona last week. That's despite TSMC's founder previously calling US chip production an "expensive exercise in futility." In the event China — which claims the island as its own — invades the island and chip production screeches to a halt, there could be trillions of dollars in economic losses. First, the cost of chip production in the US might not ultimately be "50% more expensive." The factories will be partially subsidized by the US government through the CHIPS and Science Act, a package passed in August that provided $52 billion to boost US semiconductor chip production.

☆ Send Sam Bankman-Fried to prison, Elon Musk suggests, while Binance's boss calls him a 'master manipulator'. 8 top figures weigh in on the disgraced FTX founder.
▼ + stars: | 2022-12-10 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +5 min

FTX founder Sam Bankman-Fried is racking up critics after the implosion of his crypto exchange. Here's what top voices like Elon Musk, Bill Ackman and Binance boss CZ have said, in 8 top quotes. Now the crypto CEO is under fire from all sides, from Elon Musk and Bill Ackman to "Shark Tank" investor Mark Cuban. Given that, the crypto exchange boss said he feels like the mainstream media has given Bankman-Fried softball interviews. The crypto bull believes Bankman-Fried will probably end up in jail, but doesn't think he was acting alone.

☆ 'It appears massive fraud was committed': Here are the 7 best quotes from Coinbase CEO Brian Armstrong's interview on crypto, FTX, and the future of digital assets.
▼ + stars: | 2022-12-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The implosion of FTX shook the crypto industry to its core in recent weeks as token prices continue to fall. CEO Brian Armstrong gave an interview to the Stratechery newsletter, and these are the best quotes. CEO Brian Armstrong spoke with the Stratechery newsletter on Thursday, addressing the future of crypto as well as the implosion of FTX and its impact going forward. On the prevalent fraud in crypto"I do think we have to admit as an industry that crypto has attracted more fraudsters than we'd like. On the future of crypto"There are enough great people working in crypto that I think this industry is going to do really well.

☆ Coinbase CEO slams Sam Bankman-Fried: 'This guy just committed a $10 billion fraud, and why is he getting treated with kid gloves?'
▼ + stars: | 2022-12-08 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +4 min

The CEO of Coinbase said that it's "bizarre" Sam Bankman-Fried is "getting treated with kid gloves." "I mean, this guy just committed a $10 billion fraud, and why is he getting treated with kid gloves?" "We appreciate that you've been candid in your discussions about what happened at #FTX," Waters tweeted. Criminal Activity!," Waters tweeted. He's not the only crypto CEO who's criticized the former FTX CEO recently.

☆ Apple could sink Elon Musk's Twitter by yanking it from the App Store. But it would put Apple in jeopardy too.
▼ + stars: | 2022-11-30 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +6 min

Elon Musk is claiming that Apple threatened to remove Twitter from its App Store. While Apple could find a reason to take Twitter off the App Store, it likely will not, experts said. Experts say Apple could find a reason to take Twitter off the App Store, and doing so would devastate the company. That could be a basis for Apple to remove Twitter from the App Store, Carolina Milanesi, an analyst with Creative Strategies said. Even then, Apple still likely won't remove Twitter from its App Store, because picking a fight with Elon would exacerbate antitrust criticism of Apple.

☆ The cooldown in home prices was a 'once-in-40-years' move, worse than the 2008 crisis that foiled algorithms, said the CEO of America's largest home-flipper
▼ + stars: | 2022-11-19 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +3 min

Opendoor CEO Eric Wu says the company's algorithm didn't predict housing market shifting so quickly. The quick market shifts rivaled those of the housing crisis of 2008, he said. Opendoor's forecast did factor in higher interest rates, according to Wu, but not for home price appreciation to shift alongside it. "We were pricing in the interest rate movements" but didn't also account for the dramatic shift in home prices, he said. According to Wu, Opendoor tested previous market conditions, but the speed of the most-recent shift was far greater than previous shifts — including the 2008 financial crisis.

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