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☆ Warren Buffett says one question posed by AI has stumped economists for a century
▼ + stars: | 2024-05-07 | by ( Michelle Castillo | ) www.cnbc.com time to read: +8 min

Calling AI profound, Buffet said that the technology is like a "genie" — once it gets let out of the bottle, it could have disastrous effects. It's a question, he said, that has riddled the best economists for a century. Warren Buffett is the first to admit he doesn't know much about artificial intelligence. This rebound has led to questions from corporate executives about factors that could be at play, from AI to return-to-office mandates. "Every company is looking at AI and deciding where it will help them," he said during a recent interview on CNBC's "Money Movers."

Persons: Buffett, Buffet, Warren Buffett, it's, couldn't, John Maynard Keynes, Keynes, Gary Cohn, Cohn, Dev Ittycheria, Elon Musk, Mark Zuckerberg, Sam Altman, Robert Solow, Berkshire Hathaway Organizations: Apple, Berkshire Hathaway, Berkshire, IBM, National Economic, CNBC, Nvidia, McKinsey, Harvard Business Locations: Omaha, Berkshire

☆ ChatGPT uses 17,000 times the amount of electricity than the average US household does daily: report
▼ + stars: | 2024-03-10 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

ChatGPT uses more than half a million kilowatt-hours of electricity daily, The New Yorker reported. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The publication reported that the average US household uses around 29 kilowatt-hours daily. Dividing the amount of electricity that ChatGPT uses per day by the amount used by the average household shows that ChatGPT uses more than 17 thousand times the amount of electricity. "You're talking about AI electricity consumption potentially being half a percent of global electricity consumption by 2027," de Vries told The Verge.

Persons: —, buzzy, Alex de Vries, de Vries, Vries, OpenAI Organizations: Yorker, Service, New Yorker, Dutch National Bank, Joule, Big Tech, Nvidia —, Cisco, New Street Research, CNBC, Samsung, Microsoft, Consumer Energy Solutions Locations: New, Kenya, Guatemala, Croatia

☆ Harvard researchers think they know why the booming economy still isn't being felt by average Americans
▼ + stars: | 2024-03-08 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Now, a group of them has created an interesting model that suggests much of people's dissatisfaction with the economy comes down to interest rates. In fact, the impact of rising interest rates isn't directly accounted for anywhere in the official CPI report — even though they've also contributed to surging car payments and made credit card debt much more costly. That's why the economists developed their own inflation measure, and they think it provided a more accurate prediction of economic sentiment. Cramer said additional evidence for the impact of interest rates on consumer sentiment has come in recent months. Between November and January, the Michigan consumer sentiment index saw its biggest two-month increase since 1991 — just as mortgage rates fell from their recent peak.

Persons: —, Judd Cramer, Larry Summers, they've, hasn't, Harvard's Cramer, Cramer, pocketbooks, it's, Joe Biden's Organizations: Service, Business, National Bureau of Economic Research, Harvard University, International Monetary Fund, of Labor Statistics, University of, Harvard, BLS, Federal, CPI, Federal Reserve Locations: Michigan

☆ Debate heats up as Singapore prime minister says exclusive Taylor Swift deal isn't 'unfriendly'
▼ + stars: | 2024-03-05 | by ( Monica Pitrelli | Marylou Costa | ) www.cnbc.com time to read: +4 min

Singapore Prime Minister Lee Hsien Loong said Tuesday that a closed-door deal for Taylor Swift to perform in the city-state ensured she would not perform in other Southeast Asian countries during her Eras tour. The statement is the first confirmation from the city-state that the agreement for Swift to perform in Singapore contained exclusivity terms preventing her from performing in other countries. He also did not reveal the size of the grant to Swift, but stated the amount is "not anywhere as high as speculated." During her first three concerts in Singapore, Swift asked her audience to applaud — first the locals, then those who had traveled from overseas to come to the show. Edwin Tong Singapore Minister for Culture, Community and YouthSome liken the deal to how cities vie to host major sports events, such as the Olympics, the Super Bowl and the World Cup.

Persons: Lee Hsien Loong, Taylor Swift, Swift, Edwin Tong, Srettha Thavisin, Joey Salceda, Lee, Ashok Kumar, —, Selena Oh, de Boer, Irene Hoe, — haven't Organizations: Singapore, Reuters, Thai, Swift's, Philippine, Getty, Edwin Tong Singapore Minister, Culture ,, Super Bowl Locations: Singapore, Southeast Asia, Melbourne, Bangkok, ASEAN, Tokyo, Asia, Malaysia, Thailand, Indonesia, Asia — Tokyo, Shanghai, Hong Kong, Philippines, Cambodia, what's, Edwin Tong Singapore

The pay increase appeared to have bipartisan support, though lawmakers never voted directly on it. Supporters of the pay increase say it is likely to make the Legislature more diverse when it's in danger of becoming mostly retirees and wealthy people. Senate President Ty Masterson, a Wichita-area Republican, saw opposition to the pay raise as political grandstanding. Olson said he doubts lawmakers' constituents support such a big pay raise and said they should have the courage to debate it and vote on it. And his boss — the taxpayers — haven't told him a pay raise is OK with them, he said.

Persons: Sen, Cindy Holscher, ”, Dan Hawkins, “, Rob Olson, Ty Masterson, Nicholas Reinecker, it's, Olson, Ken Corbet, —, — haven't, Becky Bohrer Organizations: Legislative, Wednesday, Alaska, New, National Conference of, Legislatures, Wichita Republican, Kansas City, Republican, ” Legislature, Topeka Republican, Associated Press Locations: TOPEKA, Kan, Kansas, Georgia, Texas, Kansas City, New Jersey, New York, New Mexico, Wichita, Topeka, Juneau , Alaska

☆ Ukraine got the top tanks it wanted from the West, but they're not yet changing the game
▼ + stars: | 2023-11-25 | by ( Chris Panella | ) www.businessinsider.com time to read: +10 min

Ukraine got the Leopard, Challenger, and Abrams tanks it asked its Western partners for. It's up to Ukraine to either use the tanks to defend against Russian offensives or preserve them for next spring, experts told Business Insider. AdvertisementNow, almost two years into the war, Ukraine has a force of advanced Western tanks at its disposal. Advertisement"These Western type of tanks are qualitatively superior to even the best Russian tanks that the Russians are using in Ukraine," Gentile told Business Insider. There are also questions of whether or not these will be the only Western tanks Ukraine gets, or if there are more in the pipeline.

Persons: Abrams, —, Seth G, Jones, Harold Brown, There's, Gian Gentile, RAND's, Austin Berner Ukraine, M1 Abrams, Gentile, Iraq's, DANIEL LEAL, hasn't, it's, Philipp Schulze, there's, they're Organizations: Russian, Service, Leopards, Transnational, Center for Strategic, International Studies, RAND's Arroyo Center, US Army, Army Staff, Challenger, M1, Soviet, Defense, Ministry of Defence, Getty, Business, Bundeswehr, Ukraine Locations: Ukraine, Ukrainian, Fort Benning, Ga, Soviet, Russia, Soviet Union, England, Zaporizhzhia, Azov, Crimea, Avdiivka, Russian, Lower Saxony, Bergen

☆ Despite strong economy, Americans are spending less: 'I feel like I'm always holding my breath'
▼ + stars: | 2023-11-22 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

Still, consumers don't feel like we're in a booming economy. "I feel like I'm always holding my breath a little bit waiting to see what's going to happen," Olivia Thomas, an education professional in New Jersey, tells CNBC Make It. As people like Thomas take a look at their personal situations and the broader economy, some are making adjustments. Consumer spending has begun to taper off, according to data from the new CNBC and National Retail Federation retail monitor. That, along with a number of increasingly precarious geopolitical situations and continued tension within domestic politics, has consumers wary of the economy.

Persons: Olivia Thomas, Thomas, Janet Yellen, CNBC's, Peter Hughes, haven't, Hughes Organizations: CNBC, National Retail Federation, Evolve Locations: New Jersey, Plenty, Federal, New York, California

LOS ANGELES (AP) — Former baseball MVP Steve Garvey joined the race Tuesday to succeed the late California Sen. Dianne Feinstein, giving Republicans a splash of star quality on the ballot in a heavily Democratic state where the GOP hasn’t won a Senate race in 35 years. He did not answer directly when asked if he considered himself part of the Trump wing of the GOP. In California's last two Senate races, GOP candidates performed so poorly that only Democrats appeared on the November ballot. The last Republican to win a Senate race in the state was in 1988. Garvey confirmed in June that he was considering entering the Senate race, and his candidacy was widely expected.

Persons: Steve Garvey, California Sen, Dianne Feinstein, GOP hasn’t, Garvey, Donald Trump, “, ” Garvey, “ It’s, Trump, ”, Katie Porter, Adam Schiff, Barbara Lee, Sen, Laphonza Butler, Gavin Newsom, Joe Biden’s, Wade, Republicans —, haven't, Eric Early, “ We're, wasn't, I’ve Organizations: ANGELES, Republicans, GOP, Los Angeles Dodgers, San Diego Padres, Democrats, Trump, National League MVP, Democratic U.S, Reps, Republican, Democratic, Senate, Dodger Locations: California, Mexico, U.S

☆ Elon Musk, who was accused of unblocking himself from people's accounts after buying Twitter, now says he's getting rid of the block feature altogether aside from DMs
▼ + stars: | 2023-08-19 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Elon Musk says the block feature will be "deleted" from X, formerly Twitter. Musk's posts suggest X users will only be able to block others from direct messaging them. The platform's owner, Elon Musk, announced plans to do away with X's block feature in a series of posts on Friday. Musk's posts on Friday aren't the first time the billionaire has expressed his distaste for the block feature — he said something similar in June. You will still be able to mute accounts and block users for DMs — Elon Musk (@elonmusk) August 18, 2023It's unclear when this change will go into effect at X.

Persons: Elon Musk, Elon, haven't, Musk, he'd, Forbes, Matt Novak, X Organizations: Twitter, DMs, Bloomberg

☆ Meet the typical Great Resigner: A Gen Zer working in leisure and hospitality who's comfortable hopping jobs in search of better pay and job security
▼ + stars: | 2023-06-22 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +1 min

Americans are still joining the Great Resignation in high numbers. The typical job hopper is young and seeking higher pay and better job security. With job openings also well above pre-pandemic levels, the Great Resignation could persist in the months to come. In some ways, the participants in the Great Resignation — and the rewards of joining it — haven't changed much over the past few years, but in other ways, the landscape has changed considerably. From age to industry to pay bump, here's the profile of today's typical Great Resigner.

Persons: —, Bankrate, haven't Organizations: Service, of Labor Statistics

☆ Advertisers are returning to Twitter after Linda Yaccarino calmed fears over content moderation. But now brands like Disney, Microsoft, and the NBA have ads placed next to neo-Nazi propaganda.
▼ + stars: | 2023-06-19 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +7 min

Brands that pulled ads over content concerns have returned to the platform since it named a new CEO. But big names like Disney, the NBA, and Adobe had ads placed next to antisemitic content this week. However, those same brands are returning to market their products and services on Twitter with Yaccarino at the helm. "They appear to have restricted that specific search, and not anything else — so they haven't moderated the actual content," Caraballo told Insider of Twitter's response. She added: "It just goes to show that the site is rife with extremist content, and yet brands are returning.

Persons: Elon Musk's, Linda Yaccarino, —, General Mills, Musk, Yaccarino, they've, Musk —, haven't, Alejandra Caraballo, Caraballo, Hitler, she'd, It's Organizations: Elon, Brands, Disney, NBA, Adobe, NBC Universal, Microsoft, Twitter, GM, Audi, Street, Harvard Law School Cyberlaw Clinic, Nazi, Southern Poverty Law, ESPN Locations: Israel

☆ Ukraine's Western partners are short on weapons and can't churn them out fast enough to fuel a counterpunch for long, defense experts say
▼ + stars: | 2023-05-18 | by ( Chris Panella | ) www.businessinsider.com time to read: +3 min

Ukraine's Western partners are short on weapons and can't make them fast enough to meet Kyiv's needs. Experts told The Washington Post that NATO countries have been too slow to manufacture munitions. Countries are facing dwindling stockpiles and can't manufacture weapons fast enough to support Kyiv's ambitions to launch a counteroffensive against Russian forces, according to the Washington Post. Defense experts told the Washington Post that many of Ukraine's NATO partners — especially European nations — haven't mobilized their defense industries to meet battlefield needs for artillery, tanks, air defense systems, and ammunition. Germany offered the fast and lethal Leopard tanks to Ukraine in January, followed by US Abrams tanks that have a record of shattering Soviet-era armor.

The US could breach the debt ceiling and run out of money to pay its debts as soon as June 1. A White House official previously told Insider that Biden would stress that Congress "must take action to avoid default without conditions." Additionally, Wall Street's response to the debt-ceiling crisis is different this time around. Even so, he added, this debt-ceiling crisis "seems much more dangerous" than the ones from the Obama years. Biden has options to avoid a debt-ceiling crisis that don't involve CongressTuesday's meeting between Biden and congressional leadership aims to break through the logjam.

☆ Why Apple TV+ could be hit harder than Netflix, Disney+, and other streamers by a looming Hollywood writers' strike
▼ + stars: | 2023-05-01 | by ( Reed Alexander | ) www.businessinsider.com time to read: +8 min

But ahead of a potential Hollywood writers' strike, the streamer faces two key vulnerabilities. Hollywood is bracing for a possible writers' strike that could begin at midnight PT, following an overwhelming strike authorization by members of the Writers' Guild of America West and East last month. But, by comparison, Prime Video, Netflix, and Discovery+ offer viewers thousands of TV series, according to ReelGood data from the end of 2022. "They're building a long-term brand of Apple TV+, which is something apart from all their devices and their cool software. It would not damage the perception that people have of Apple TV+."

☆ Apple TV+ has 2 big disadvantages compared to Netflix, Disney+, and other streamers as a Hollywood writers' strike looms
▼ + stars: | 2023-04-26 | by ( Reed Alexander | ) www.businessinsider.com time to read: +8 min

But ahead of a potential Hollywood writers' strike, the streamer faces two key vulnerabilities. Hollywood is bracing for a possible writers' strike that could begin on May 1, following an overwhelming strike authorization by members of the Writers' Guild of America West and East earlier this month. But, by comparison, Prime Video, Netflix, and Discovery+ offer viewers thousands of TV series, according to ReelGood data from the end of 2022. "They're building a long-term brand of Apple TV+, which is something apart from all their devices and their cool software. It would not damage the perception that people have of Apple TV+."

Wall Street on Tuesday upgraded two underperforming Club stocks — Emerson Electric (EMR) and Danaher (DHR) — to the equivalent of buy ratings. Historically, the iPhone's expensive price tag has hindered its ability to gain meaningful market share in the Indian smartphone market. We're confident Apple is gaining traction with Indian consumers , one reason why we continue to see Apple is a long-term investment. The company's two-pronged strategy of growing both its manufacturing- and consumer market share in India should prove fruitful in the coming years. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Mike Lindell says he had to borrow $10 million last year to keep MyPillow afloat — and that he's running out of cash, too
▼ + stars: | 2023-03-16 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +4 min

MyPillow CEO Mike Lindell told Insider he had to borrow $10 million in 2022 to keep MyPillow afloat. Lindell said that to stay liquid, he also sold a building for $2 million, and borrowed $2 million. Lindell says he's burning through $1 million dollars every month on causes related to voter fraud. "I sold a building I had in Savage, in Minnesota, in October," Lindell told Insider. Lindell told Insider some creature comforts — like his private jet, which had a door come off it in October — haven't been sold yet.

☆ What's next after a brutal year for tech? Market watchers share their views — and top stock picks
▼ + stars: | 2022-12-26 | by ( Zavier Ong | ) www.cnbc.com time to read: +7 min

If you invested in tech stocks in 2022, chances are you're sitting on a loss right now. As they head into 2023, investors could be forgiven for thinking that the worst of the tech rout is over. Big Tech is 'not dead' Michael Yoshikami, founder and CEO of Destination Wealth Management, said Big Tech is "not dead," though it will take time to recover. Goldman Sachs and Citi also see pockets of opportunities within Big Tech, with both naming Amazon and Meta Platforms as their top picks for 2023. The sector has traditionally been viewed as a growth sector, but some analysts say tech stocks are now value stocks instead.

☆ New York's top cannabis regulator says most of the state's pot shops won't open until next year — but illegal sellers are already filling the gap
▼ + stars: | 2022-10-26 | by ( Jeremy Berke | ) www.businessinsider.com time to read: +5 min

New York state will have at least one legal cannabis shop open in 2022, but the bulk of stores won't open until at least the middle of 2023, the state's top cannabis regulator said. Wright added that most legal shops probably wouldn't open until 2023 — about two years after the state legalized cannabis. AP Photo/Steven SenneBoth Krueger and Peoples-Stokes laid some blame for New York's cannabis stumbles at the feet of former Gov. Over half of cannabis sales in California are estimated to stem from the illegal market, though the state opened cannabis shops in 2018. New York's testing requirements pose a challengeNew York's legal cannabis market could face other hurdles.

☆ Elon Musk says he's 'up for' a cage match with Mark Zuckerberg. It's the latest jab in a nearly 7-year feud between the two CEOs.
▼ + stars: | 2021-01-10 | by ( Avery Hartmans | Grace Kay | ) www.businessinsider.com time to read: +1 min

There's no love lost between Elon Musk and Mark Zuckerberg. The CEOs have been feuding since 2016, when a SpaceX explosion destroyed a Facebook satellite. Since then, they've butted heads repeatedly and now they're threatening to face off in a cage match. For over six years, Elon Musk and Mark Zuckerberg have clashed over topics as varied as artificial intelligence and rockets. Even though both dabble in artificial intelligence and social media, and their companies have partnered in the past, it seems there's no love lost between Musk and Zuckerberg.

Persons: Elon Musk, Mark Zuckerberg, they've butted, Tesla, Meta —, Zuckerberg, Musk, Here's Organizations: Elon, SpaceX, Facebook, Morning Locations: Cambridge, Silicon

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