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☆ A Ukrainian tank crew said the Abrams tank is as easy to drive as a scooter and that they learned how to operate its weapons in 1 week
▼ + stars: | 2024-05-08 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Read previewA Ukrainian tank gunner and driver were filmed heaping praise on US-supplied Abrams tanks in a state-backed media report, boasting that they've been easy to learn to operate. "There's nothing so complicated here," he told Army TV. Alexey and Koka's commander, Dmytro, told Army TV that the Abrams' armor was effective against Russian anti-tank missiles like the Kornet. AdvertisementUkraine was promised 31 Abrams tanks by the US in January 2023, with the first batch arriving in September after crews trained for months in Germany to operate them. In late April, the Russian military displayed an abandoned Abrams M1A1 at an exhibition called the "Trophies of the Russian Army," which showcased NATO equipment seized during the war.

Persons: —, Abrams, Koka, Alexey, Yevhen Nazarenko, Dmytro, Zeus Organizations: Service, Mechanized Brigade, Army TV, Business, Abrams, Army, Ukraine's Ministry of Defense, Pentagon, Associated Press, Business Insider, Russian, Capitol Hill, Republican, New York Times, Russian Army, NATO Locations: Ukrainian, Ukraine, Germany, Soviet

☆ These are the top business-development execs competing to hire elite portfolio managers at hedge fund giants Citadel, Millennium, Point72, and more
▼ + stars: | 2024-05-08 | by ( Alex Morrell | ) www.businessinsider.com time to read: +34 min

Unlike business development in corporate America, which focuses on growing a company's prospects with partners and clients, hedge fund BD teams specialize in scouting, evaluating, and wooing investment talent. AdvertisementFew have been involved in hedge fund BD longer than Jennifer Blake, Balyasny's global head. The fund's BD department remains in close contact with PMs after they join as a resource and advisor. Vernon Yuen/Getty Images$61 billion AUM2,200+ employeesAdvertisementKen Griffin's Citadel has outperformed not just its immediate rivals but every other hedge fund. He runs a team of about 20 as head of business development in the Americas, the largest region of the largest player in this space.

Persons: —, Griffin's, Izzy Englander's, Goldman Sachs, Headcount, execs, Dmitry Balyasny, Brendan McDermid, Jennifer Blake, Balyasny's, Morgan Stanley, Dmitri Balyasny's, Blake, it's, Federico Chavarria, Balyasny, Dave Matz, Smith Hanley, Alistair Jacobs, Dave Black, Peter Appel, Federico Chavarria MD, Andrew McHugh, Jules Biolsi, Michael Platt, he's, BlueCrest, Michael Grad, Grad, Jake Lindsay, Mungo Strachan, BlueCrest's, Brevan Howard Brevan Howard, Alan Howard, Ringo Chiu, Brevan Howard, Alan Howard's, Aran Landy, Brevan, Abu, It's, Landy, Howard, Peter Hornick, David Abbou, Jonathan Candy, Gregoire Vidal, Vidal, Tim Williams, Andy Silver, Gautam, Ken Griffin, Vernon Yuen, Ken Griffin's, Griffin, Matt Giannini, Giannini, headhunter, Matt, I've, — Thomas DeAngelis, Lindsay Previdi, Rice, Dore, Eleanor Sharkey, Melinda Urban, Mark Hansen, Julian Ulmer, Mathur, Adam Sharkie, Michael Page, Eisler, Edward Eisler, Sam Wisnia, Chris Milner, Milner, Hilary Curran, Hilary Curran Global, Rebecca Zisser, Michael Gelband, Hornick, Jeff Gelband, Mike Tiano, Eric Han, Garrett Berg, Liu, APAC Blackstone, Euan Shand, Kevin Carroll, Emily, Needham, Ostendorf, Ben Levine, Stefan Renold, LMR, Marcus Fairhurst, He'd, LMR's, Izzy, Ronda, Singh, Mark Meskin, Justin Gmelich, Steve Keller, Benjamin Williams, Madhvani, Paritosh Singh, Ben Williams, Kristina Tully, Steven Cohen, Point72, Shayanne, Steve Cohen's, Harry Schwefel, Chandler, Steve Cohen, JT Shields, They're, Schwefel, Alyssa Friedman —, Chandler Bocklage, Reid Murphy, Jae Yang, Japan Goldman Sachs, Alyssa Friedman, Jackie Dai, Gabriel Sanders, Ajay, Steven Schonfeld, Michael Nagle, Steve Schonfeld's, Ryan Tolkin, Schonfeld, doesn't, Akshay Aggarwal, Alex Burns, Ryan McCort, Colin Lancaster, Mitesh, Sameer Buch, Brittany Lynch, DMFI, Goldman, Verition, Nicholas Maounis, Josh Goldstein, Brian Townes, Townes, Elizabeth Xiang MD, Vir, Steve Satenstein, Chris Svoboda, Will England, Thomas DeAngelis, DeAngelis, Jonathan Brenner, hasn't, Maureen Reed, John Sullivan, Brenner, Walleye's Organizations: Service, Management, Wall, Business, Balyasny, Balyasny Asset Management, Quadra Advisors, SAC, Macquarie, BD, UBS, Grad, Financial Times, Michael, Lascaux, Howard BD, Brevan, Argentum Advisors, BH Digital, McKinsey & Company, JPMorgan, Ken Griffin's Citadel, Citadel, Citadel's, decamping, Chicago, Citadel BD, Walleye Capital, of Surveyor, Millennium, Capital, Credit, Ashler, Rice, Deutsche Bank, LMR Partners, London, Dore Partnership, Soros, Soros Fund, Ronda Churchill, Bloomberg, Getty, Guggenheim, Industry, MLP, Americas Guggenheim, Americas Citadel, SAC Capital, SEC, Point72 Academy, Citigroup, BD Energi, Japan, EMEA, APAC BNP, Schonfeld, PAAMCO, KKR, DMC Partners, Topwater, LinkedIn, New, New Holland Capital, BD —, Walleye, Lehman Brothers, Hutchin, Putnam Investments, ~$ Locations: America, Asia, Balyasny, Blackstone, New Holland, Abu Dhabi, BlueCrest, Europe, Graticule, ExodusPoint, Hornick, Freestone, New York, Schonfeld, Brevan, he's, Aberdeen, Hong Kong, Zurich, Glasgow, Dubai, Americas, Point72, quant, Verition, London, Greenland, Minnesota, Citadel

☆ Exclusive: Convergence AI, a new startup founded by ex-Cohere employees, is in talks to raise a major pre-seed round
▼ + stars: | 2024-05-08 | by ( Callum Burroughs | Riddhi Kanetkar | ) www.businessinsider.com time to read: +2 min

A UK-based AI startup, founded last month by former Cohere employees, is already in talks to raise a major pre-seed round amid venture capitalists' continued spending spree in the sector. Convergence AI, incorporated at the end of April, was founded by ex-Cohere employees Marvin Purtorab and Andy Toulis, who was also a machine learning engineer at Uber. Its primary aim, per leaked investor documents seen by BI, is to build out automated workforces using AI. The nascent business has been feted by several leading funds, with the company receiving at least six different term sheets for investment, two London-based sources said. The startup opted for a funding round led by London-based Balderton Capital, six sources familiar with the deal told Business Insider.

Persons: Marvin Purtorab, Andy Toulis, Slack Organizations: Uber, Business, Balderton, BI, Nvidia, Mistral Locations: London, Paris

☆ A Gen Xer struggles to afford housing and groceries, but her income is about $100 too high to get help
▼ + stars: | 2024-05-08 | by ( Allie Kelly | ) www.businessinsider.com time to read: +4 min

The couple is part of a growing number of Americans who live above the federal poverty line but struggle to afford basic necessities. The poverty line isn't adjusted to reflect cost-of-living differences in individual cities or states and is set at $20,440 a year for a family of two. Binkley is trying to "make ends meet," hopes to leave Minnesota one dayPrimarily, Binkley said she struggles with her rent and utility bills. AdvertisementFor food, Binkley said she is especially thankful for her local food pantries, where she often goes to pick up canned goods. "That is one thing that keeps driving me to make my payments, get things caught up, and set a little bit aside each week or each month, Binkley said.

Persons: —, Melinda Binkley, she's, Binkley, doesn't, ALICE, She's Organizations: Service, Business, Survey, United Way's, Medicare Locations: Stillwater , Minnesota, Minnesota, Idaho

☆ Why Wall Street is transfixed by a BofA banker's untimely death
▼ + stars: | 2024-05-08 | by ( Reed Alexander | Emmalyse Brownstein | ) www.businessinsider.com time to read: +9 min

The untimely death of a 35-year-old Bank of America associate has sparked a conversation across Wall Street over working conditions. "And to at least just start having those conversations as to how they can make junior bankers work life much better because it's been long overdue. At BofA, 100-plus hour weeks logged by junior bankers aren't unusual, said current and former employees, who questioned whether the firm's system for flagging excessive amounts of work was actually effective. But some junior bankers felt dismayed by an apparent lack of written communication from bank leaders about the incident, this person added. Crushing exhaustion, heightened demandsThe former BofA investment-banking analyst, who was not on Lukenas' team, quit in 2023 after two years.

Persons: Leo Lukenas III, BofA, Lukenas, it's, Goldman Sachs, Lukenas —, —, UMB, Christopher Perkins, Perkins, Les Lukenas, Green, Leo, Reed Alexander, Emmalyse Organizations: Service, of America, Wall, Army, Green Beret, Special Forces, Reuters, New York Office, Business, Bank of America, Investment, Goldman, Heartland Financial, Inc, FIG, Citigroup, Veterans, BI, LinkedIn, Green Berets, Army Special Forces Locations: BofA, London, Wall, ebrownstein@businessinsider.com

☆ As Social Security's funds face insolvency, experts say these are key factors to watch
▼ + stars: | 2024-05-08 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Phoenix Wang | Moment | Getty ImagesA new Social Security trustees report released on Monday provides a modest bright spot for the program. watch nowThe trust fund shortfall may be addressed through tax increases, benefit cuts or by taking funds from general revenues, he said. But Social Security is poised to be an issue in the upcoming House, Senate and presidential campaigns, he said. Here are some key revelations to note from this year's Social Security trustees report. If there is a major recession, many workers who are at the margin may apply for disability benefits, he said.

Persons: Wang, Jason Fichtner, Fichtner, Max Richtman, Laura Haltzel Organizations: Social Security, Center, Committee, Budget, National Committee, Preserve Social Security, Social, Congressional Research Service

☆ Definely, a London legal tech startup founded by a blind lawyer, just raised $7 million with this 10-slide pitch deck
▼ + stars: | 2024-05-08 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewDefinely, a London-based legal tech startup, has raised $7 million in Series A funding, the company said Wednesday. Founded in 2020 by former colleagues at a Magic Circle law firm, Definely is a subscription product that helps lawyers read, edit, and draft legal documents through a plug-in. Currently available through Microsoft Word, Definely uses artificial intelligence, including natural language processing, to make cross-referencing documents easier for legal professionals. Reading legal documents can be a lengthy and complex task with phrases and terminology often scattered between different sections of contracts.

Persons: —, Nnamdi Emelifeonwu, MacDaeid, Emelifeonwu, Definely Organizations: Service, Microsoft, Business, Octopus Ventures, Cornerstone VC, Zrosk Investment, Google, Atlantic Locations: London

The numbers behind a big fundOn Wall Street, one mystery has been whispered about for months: How accurate is the valuation of Blackstone’s flagship real estate fund? The speculation has arisen because the fund, the $59 billion Blackstone Real Estate Income Trust — more commonly known as BREIT — has managed to keep an “appraised” value of its assets that far exceeds virtually every other real estate fund. Many rivals have fallen in value, some quite dramatically, in the face of high interest rates and a flagging property market. BREIT’s performance has floated above its competition, and it has boasted a 10.5 percent annual return since its 2017 debut. (Those appraisals help to determine a firm’s management fees: The higher the appraisal value, the higher the fees.)

Persons: —, Blackstone, DealBook’s Andrew Ross Sorkin, Michael de la Organizations: Blackstone Real Locations: Michael de la Merced

☆ Inside the Growing Alarm Over Blackstone's BREIT Real-Estate Fund
▼ + stars: | 2024-05-07 | by ( Bethany Mclean | ) www.businessinsider.com time to read: +23 min

Investors in Blackstone's real-estate fund asked for their money back in droves — more than $15 billion to date. Unless the real-estate market comes roaring back, analysts warn, BREIT could end up shrinking to a fraction of its current size, leaving the fund's investors holding the bag. Only 3% of BREIT's holdings are in office buildings, which have been ground zero for commercial real estate pain. Advertisement"Not all real estate is created equal," BREIT boasted in a recent letter to stockholders, "and where you invest matters." "Commercial real estate is a slow burn," Brian Moynihan, the CEO of Bank of America, recently observed.

Persons: Blackstone, —, BREIT, REITs, Steve Schwarzman, Jeenah, Nate Koppikar, Craig McCann, BREIT's, Chilton, McCann, McCann, Horacio Villalobos, That's, Donald Trump, Robert Chang, Schwarzman, Michael Blackshire, Phil Bak, Stephen Schwarzman, Shannon Stapleton, Brian Moynihan, it's, It's Organizations: BREIT, Orso Partners, Securities Exchange Commission, Blackstone, SEC, Chilton Capital Management, SLCG Economics Consulting, Publicly, University of California, Regents, Armada Investors, Reuters, Bank of America Locations: BREIT, Lisbon, Fideres

☆ Preparations Ramp Up for Global Security Force to Quell Haitian Violence
▼ + stars: | 2024-05-07 | by ( David C. Adams | Frances Robles | ) www.nytimes.com time to read: 1 min

U.S. military planes filled with civilian contractors and supplies have begun landing in Haiti, paving the way for a seven-nation security mission, led by Kenya, to deploy to the troubled Caribbean nation in the coming weeks, American officials say. But even as the security situation worsens and millions of Haitians go hungry, a military-style deployment that is estimated to cost $600 million has just a fraction of the funding required. Biden administration officials would not say whether a precise date for the deployment date had been set. The Kenyan government did not respond to requests for comment. Several flights from Charleston Air Force Base in South Carolina have landed at Toussaint Louverture International Airport in Port-au-Prince, the capital, in the past week, according to the U.S. Southern Command.

Persons: Toussaint Organizations: Biden, Kenyan, Charleston Air Force Base, U.S . Southern Command Locations: Haiti, Kenya, South Carolina, Port

☆ How AI is changing OnlyFans and adult content creation, from chatting to 'AI twins,' and where the future is headed
▼ + stars: | 2024-05-07 | by ( Marta Biino | ) www.businessinsider.com time to read: +12 min

Many AI adult influencers have turned to OnlyFans competitor Fanvue to monetize their content. MySentient has been investing in creating "sentient" AI chatbots based on people that range from adult creators like Amouranth to Jesus. Elaina St James has used different AI tools to generate images of herself in different contexts and outfits. To create these characters, they use a variety of AI tools, including Unstable Diffusion, an AI image generator that focuses on NSFW content. Others see the power of AI but also the issues it could create for the adult industry as a whole.

Persons: Riley Reid, Ana Levy, Isla Moon, Jada Sparks, Fanvue, it's, OnlyFans, Fortune, Riley Reid's Clona, immortalize, Riley, MySentient, Amouranth, Jesus, Reese Leysen, Leysen, We've, Robert Weiss, that's, she'd, James, Elaina, James Level, —, Eva AI, MyClub.ai, Eva, MyClub, Jessica Moore, Elaina St James, St James, Zoe Fox, Aika Kittie, Margot Robbie, Influencer Sophie Annaston, she's, Sophie Annaston, who's, It's, Charles Lyle Organizations: Business, MyClub, AVN, Media Locations: Philippines, India, Pakistan, Canada, Spanish, Fanvue, Lipa

☆ The Met Gala, in Photos
▼ + stars: | 2024-05-07 | by ( Vanessa Friedman | ) www.nytimes.com time to read: +2 min

Every Gala has a dress code, which is tethered to the exhibition. All of which makes it easy to forget this is actually an important fund-raiser for one of New York’s cultural pillars: the Metropolitan Museum of Art’s Costume Institute. It was once a free-standing museum, but when it merged with the Met in 1946, part of the deal was that the Costume Institute would have to pay for itself. Hence the gala, which raises all the funds for the institute’s operating budget. The Costume Institute itself has historically been housed in the museum’s basement — a clear statement about its status at the museum.

Persons: you’ve, —, Ballard, Katy Perry, Alexandria Ocasio, Cortez, ” scrawled, Kandinsky Organizations: Metropolitan Museum, Art’s Costume, Met, Costume Locations: East Coast, Alexandria

☆ 32-year-old attorney quit her 9-to-5 to launch an electric flossing startup—it brought in nearly $1 million in 12 months
▼ + stars: | 2024-05-07 | by ( Ashton Jackson | ) www.cnbc.com time to read: +1 min

Samantha Coxe's business idea came from a relatable experience: lying to her dentist about flossing regularly. Coxe sought $250,000 for 5% of her company, which brought in "about $900,000 in sales" over the 12 months prior to filming, she said. The show's investor judges tried out the Flaus flosser, calling it "cool" and complimenting its peppermint flavor — but they wanted to learn more about the numbers. It costs us about $10 to make," Coxe told them. Right now, it's built for adults — but Coxe said a version for kids is "the next product we're coming out with."

Persons: Samantha Coxe's, flossing, Coxe, Flaus, it's, —

☆ Live Updates: Biden to Condemn Antisemitism at Holocaust Remembrance Ceremony
▼ + stars: | 2024-05-07 | by ( Erica L. Green | ) www.nytimes.com time to read: +3 min

Holocaust Memorial Museum’s Days of Remembrance, where he will draw on the Oct. 7 terrorist attack on Israel to amplify concerns about antisemitism in the United States and abroad. Mr. Biden’s address from Capitol Hill comes during weeks of protests on American college campuses against Israel’s war in Gaza, with students demanding that the Biden administration stop sending arms to Israel. Jewish groups have been pressuring the administration to take firmer actions to combat antisemitism. Since the Oct. 7 attack, the department has opened more than 100 investigations into complaints about antisemitism and other forms of discrimination. For months, Mr. Biden has faced fierce criticism over his support for Israel, even from within his own party.

Persons: Biden, recommit, ” Karine Jean, Pierre, “, we’ve, Mr, ” Ms, Jean Organizations: U.S . Holocaust, Capitol Hill, White House, Hamas, Education Department’s, Civil Rights, Civil, Israel, Health Locations: U.S, Israel, United States, Gaza

☆ Billionaire Steve Cohen's $33.9 billion Point72 sheds stockpickers
▼ + stars: | 2024-05-07 | by ( Bradley Saacks | Alex Morrell | ) www.businessinsider.com time to read: +2 min

Billionaire Steve Cohen's Point72 has cut at least seven long-short equity portfolio managers. The firm, which is up 5.9% in 2024 through April, has dozens of portfolio managers across strategies. AdvertisementBillionaire Steve Cohen's Point72 has cut at least seven long-short equity portfolio managers, several people close to the fund told Business Insider. As of last September, the firm had 100 long-short portfolio managers. Five more macro portfolio managers joined the firm in March, Bloomberg previously reported, and the total number of macro teams now stands at more than 50.

Persons: Steve Cohen's Point72, —, Brevan Howard, Schonfeld, Point72, Mo Grimeh Organizations: Service, Business, Bloomberg, Millennium

☆ Social Security now expected to run short on funds in 2035, one year later than previously projected, Treasury says
▼ + stars: | 2024-05-06 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Valerie Macon | Afp | Getty ImagesThe trust funds the Social Security Administration relies on to pay benefits are now projected to run out in 2035, one year later than previously projected, according to the annual trustees' report released on Monday. The Social Security trustees credited the slightly improved outlook to more people contributing to the program amid a strong economy, low unemployment and higher job and wage growth. "This year's report is a measure of good news for the millions of Americans who depend on Social Security, including the roughly 50% of seniors for whom Social Security is the difference between poverty and living in dignity — any potential benefit reduction event has been pushed off from 2034 to 2035," Social Security Commissioner Martin O'Malley said in a statement. What reports reveal about Social Security, MedicareSocial Security's new 2035 depletion date applies to its combined trust funds. The Medicare Hospital Insurance trust fund — used to fund Part A benefits — saw the biggest improvement in this year's trustees report.

Persons: Valerie Macon, Martin O'Malley, O'Malley, — Organizations: Social Security Administration, Afp, Getty, Social Security, Social, Medicare, Insurance Trust, Disability Insurance Trust, Medicare Hospital Insurance, Insurance Trust Fund, Department Locations: Burbank , California

☆ Hartford Total Return Bond ETF yields nearly 5% and prides itself on finding value across the market
▼ + stars: | 2024-05-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

HTRB saw a total return last year of 7.15%, and ranked in the 23rd percentile among its peers, according to Morningstar. The portfolio has 51% of its assets in mortgage-backed securities and 25% in investment-grade credit, according to the fund's website. Compared to many of its peers in the intermediate core plus bond Morningstar category, Hartford Total Return Bond ETF leans a bit more on securitized markets instead of investment-grade corporate debt, according to Morningstar. Finding opportunities Right now, one of the areas Goodman sees value in is agency mortgage-backed securities. Goodman also likes structured finance right now, like collateralized loan obligations, commercial mortgage-backed securities and nonagency residential mortgage-backed securities.

Persons: Campe Goodman, Morningstar, Goodman, HTRB, Morningstar . Goodman, Mike Mulach, Bonds, Fitch Organizations: Hartford, SEC, Wellington, Bloomberg U.S, Morningstar, BB, Poor's, Federal Reserve Locations: Wellington, Eastern Europe

☆ Tensions Rise in Silicon Valley Over Sales of Start-Up Stocks
▼ + stars: | 2024-05-06 | by ( Erin Griffith | ) www.nytimes.com time to read: +1 min

Sohail Prasad, an entrepreneur, launched a fund in March called the Destiny Tech100. The fund owns shares in hot tech start-ups like the payments firm Stripe, the rocket maker SpaceX and the artificial intelligence company OpenAI. Few people get the chance to invest in these privately held companies since their shares are not openly traded. Mr. Prasad’s intention with Destiny was to let the rest of the world get a piece of them through his fund. But soon after Destiny debuted, two tech start-ups — Stripe and Plaid, a banking service — said the fund did not legally own their shares.

Persons: Sohail Prasad, Destiny, —, Robinhood, Prasad, ” Organizations: SpaceX

☆ How Shruti Gandhi, a solo venture capitalist with 15 exits in 5 years, went from underestimated to unstoppable
▼ + stars: | 2024-05-06 | by ( Melia Russell | ) www.businessinsider.com time to read: +7 min

Shruti Gandhi has a simple rule for meeting founders: She only takes the meeting if she wants to invest. Being the solo general partner of her firm, the early-stage outfit Array Ventures, also means she can get deals done quickly. Over the past five years, she's returned most of her maiden $7 million fund to limited partners at a net multiple of almost four. For founders, by foundersThe founders Gandhi has backed like working with her because of her technical chops and hands-on approach. We will back you if you raise a fund,'" Gandhi said.

Persons: Shruti Gandhi, Gandhi, Nikhil Teja Kolli, Kolli, she's, wasn't, Dumbledore, Harry Potter, Champ Bennett, Zimperium's Zuk Avraham, Mehul Nariyawala, Google —, Doktor Gurson, Gurson Organizations: Ventures, Business, PayPal, IBM, Columbia University, True Ventures, Samsung, Google, University of Chicago Booth School of Business, Rad Locations: India, Poughkeepsie , New York, She's

☆ 3 reasons why bitcoin can still reach $150,000 by 2025, according to Bernstein
▼ + stars: | 2024-05-06 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Bitcoin will still reach $150,000 by 2025, Bernstein reaffirmed in a new note. ETF and spot bitcoin demand has remained strong, analysts wrote. "Investors ask us if anything has changed on our $150K Bitcoin price view and if the post-halving price correction has affected our conviction. Second, rule updates from the Financial Accounting Standards Board pertaining to crypto are driving corporate interest in bitcoin, Bernstein said. Advertisement"Overall, healthy Bitcoin demand and continued discipline in the Bitcoin mining cycle, allowing the Bitcoin party to last longer this time.

Persons: Bitcoin, Bernstein, —, Gautam Chhugani, Mahika Sapra, Block, Chhugani, Bernstein isn't, bitcoin Organizations: Service, ETF, Financial, outflows, Chartered, ~$ Locations: outflows, bitcoin

☆ Ali Partovi learned to code in a war zone. Now, he's trying to build a new kind of venture fund.
▼ + stars: | 2024-05-06 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But amid the chaos, there was one solid thing in Partovi's life, one thing he knew he could always put in order: computer code. Related storiesNow, Partovi has reached the top echelon of seed investors, ranking 13th on Business Insider's Seed 100 list. 'Neo Scholars'Through his seed-stage fund Neo, Partovi has amassed a formidable portfolio of early-stage investments, including Ramp, Deel, Vanta, MosaicML, and many more. As these "Neo Scholars," as they're known, graduate or drop out to build startups, Neo backs them with money from its investment fund.

Persons: —, Ali Partovi, Saddam Hussein, Partovi's, Hadi, Partovi, Facebook, Uber, There's Erik Goldman, Dropbox, Vanta, There's Ari Steinberg, who's Organizations: Service, Business, Boston University, Sharif University of Technology, Harvard, Microsoft, University, CS, Stanford, Facebook, Airbnb Locations: Tehran, Iran, Iraq, North America, Silicon

☆ This is 2024’s new political normal six months from the election
▼ + stars: | 2024-05-05 | by ( Stephen Collinson | ) edition.cnn.com time to read: +9 min

It’s just another normal week in American politics as unpredictable forces rock both parties and augur a tense run to an election — now six months less one day away — that could fundamentally change the nation. Prosecutors argue he attempted a cover-up to mislead voters in 2016 in an early act of election interference. She also said that Trump felt it was better to deal with the story after the election than beforehand. Last week, in an interview with the Milwaukee Journal Sentinel, Trump refused to guarantee he’d accept the result of the next election. “We have to understand that this is a defining moment for this generation, similar to anti-Vietnam protests, anti-apartheid protests, anti-Iraq War protests,” he said.

Persons: Donald Trump, Joe Biden’s, Mike Johnson, Marjorie Taylor Greene, It’s, —, Trump, Story Daniels, Hope Hicks, Hicks, Michael Cohen, Daniels, Emil Bove, Cohen, Trump’s, Biden, James Singer, “ Trump, ” Singer, Benjamin Netanyahu, Mitch Landrieu, Sen, Bernie Sanders, Lyndon Johnson, Landrieu, Democratic Sen, John Fetterman of, ”, Ro Khanna, “, ” Johnson, Johnson, Greene, don’t, Kevin McCarthy Organizations: CNN, Trump, Republican, Georgia Rep, Prosecutors, White House, Nazi Secret Police, Milwaukee Journal Sentinel, Israel, Republicans, Union, Biden campaign’s, Independent, Democratic, CBS, Hamas, GOP Locations: Gestapo, New York, Gaza, Manhattan, Trump, “ State, Vietnam, John Fetterman of Pennsylvania, Michigan, California, Iraq, America, Ukraine, Louisiana

☆ The Russian Army may have defeated Ukraine — if it had followed its own manual
▼ + stars: | 2024-05-05 | by ( Michael Peck | ) www.businessinsider.com time to read: +7 min

It is also evidence of a major reason why Russian troops have often fought poorly in the Ukraine war: they are not following their own playbook. Artem Priakhin/Getty ImagesAssessing current Russian doctrine is difficult. However, the problem may not have been Russian doctrine as much as the overall strategy of the Ukraine war. "There are plenty of aspects to their defense that are entirely consistent with their historical practice and doctrine," Boston said. If the Russian military was that bad, then maybe the Ukrainian military wasn't that good?

Persons: Scott Boston, Artem Priakhin, wouldn't, Ukraine's, Michael Peck Organizations: US, RAND Corp, Kyiv, Russian Army, Aerospace Forces, Warsaw, Kyiv —, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Ukraine, Russia, Russian, Boston, St . Petersburg, Soviet, Western Europe, Iraq, Forbes

☆ Apple just unveiled a $110 billion buyback plan. Here's why that doesn't make the stock a sure winner
▼ + stars: | 2024-05-05 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Shares of Apple surged 6% on Friday as investors cheered better-than-expected fiscal second-quarter results and the announcement of the biggest stock buyback program in U.S. corporate history. In theory, Apple's $110 billion stock buyback program should provide a boost to its share price. However, recent history shows that spending billions on share repurchases isn't guaranteed to make the stock a runaway winner. So they've been retiring these shares," Nathan said. AAPL YTD mountain Shares of Apple are still down year to date despite Friday's bounce.

Persons: Dan Nathan, they've, Nathan, hasn't, They've, Apple isn't Organizations: Apple, RiskReversal Advisors, CNBC, Big Tech, Nasdaq, Mobile

☆ Donald Trump says he doesn't care too much about his legal troubles: 'Life is life'
▼ + stars: | 2024-05-05 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

Read previewDonald Trump told attendees at a private donor event in Florida on Saturday that he wasn't too bothered about his numerous legal troubles. Nevertheless, Trump told those in attendance that he was shocked when he first found out he had been indicted. I got indicted," Trump said, per the report. REUTERS/Jane RosenbergDuring the Mar-a-Lago event, Trump also took the opportunity to hit out at Democrats, saying they were "running a Gestapo administration," referencing the Nazi secret police force. Doug Burgum, Ohio Sen. JD Vance, Florida Sen. Marco Rubio, and Florida Rep. Byron Donalds.

Persons: —, Donald Trump, It's, Trump, Stormy Daniels, Jane Rosenberg, Biden, South Carolina Sen, Tim Scott, Elise Stefanik, Doug Burgum, Doug Burgum , Ohio Sen, JD Vance, Florida Sen, Marco Rubio, Byron Donalds, Mike Johnson, cochair Lara Trump, Donald Trump's Organizations: Service, Mar, NBC News, Business, REUTERS, Manchurian, Republican National Committee's, Sunshine, CNN, Tim Scott , New York, North Dakota Gov, Florida Rep, House GOP Locations: Florida, New York, China, Russia, Ukraine, Sunshine State, South Carolina, Tim Scott ,, North, Doug Burgum , Ohio

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