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Amazon Prime had 180 million members in March, according to new data. AdvertisementNow more than ever, you're more likely than not to be an Amazon Prime member. It also brings the share of US consumers who have Prime to 75%, per the report. Amazon did not immediately respond to a request for comment from Business Insider. This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Amazon, Bloomberg Businessweek, Service, Bloomberg, Consumer Intelligence Research Partners, Business
There are 620,000 more adults living with their parents in the UK than a decade ago. In the US, the percentage of young adults living at home has climbed 87% over the past two decades, according to the US Census Bureau. More than one-third of Gen Z respondents in a 2022 Freddie Mac survey said it's something they thought they'd never be able to achieve. A similar share of young adults lived with their parents in the wake of the Great Recession in 2010 — 44%. For many young adults, living on your own is an important step to feeling grown up.
Persons: Bethany Clark, didn't, she's, Clark, they'd, Moody's, renter, Zers, homebuyers, Gen, Freddie Mac, millennials, Z, grads, We're, Amy Lewthwaite, Lewthwaite, shouldn't, I've, Sarah Obutor, who'd, Obutor, , Gen Zers, Jeffrey Jensen Arnett, Arnett Organizations: Census Bureau, Bloomberg, Harris, National Association of Realtors, Bloomberg Businessweek, Guardian, Financial Times, Urban Institute, Northumbria University, Clark University Locations: Surrey, England, America, London, Georgia
Nvidia Is a Must-Buy. Or Is It?
  + stars: | 2024-02-22 | by ( Joe Rennison | ) www.nytimes.com   time to read: +1 min
In 2002, after the dot-com bubble burst and Sun Microsystems swooned, the company’s co-founder Scott McNealy highlighted the folly of Wall Street analysts who favored one particular financial metric to gauge a stock’s worth: its price relative to the company’s sales. Mr. McNealy was musing about the “price to sales” ratio — an important measure of a company’s value relative to how much cash it generates. A high ratio can be justified if investors think a company has room to grow; a low ratio typically signals that investors think the company is accurately valued. Even if Sun passed on every dollar it was making at the time to investors, it would have taken them a decade to recover their investment. “Do you realize how ridiculous those basic assumptions are?” Mr. McNealy told Businessweek.
Persons: Scott McNealy, McNealy, Sun Organizations: Sun Microsystems, Street, Businessweek
Paramount is in trouble: The one-time media giant's ad sales are plummeting, and so is its stock price. This week, the day after the company broadcast the Super Bowl to a record-setting number of viewers, it announced companywide layoffs. AdvertisementBut why should you, a person who doesn't work at Paramount, care about the future of the company? But even under the best-case scenario, it would be hard for Paramount or any other traditional media company to survive the transition to streaming and digital. Which is why two of the biggest traditional giants — Time Warner and Rupert Murdoch's Fox — took the opportunity to sell most of themselves in 2016 and 2017.
Persons: Lucas Shaw, they're, Shaw, Sumner Redstone, Redstone's, Shari, — Time Warner, Rupert Murdoch's Fox — Organizations: Paramount, Bloomberg Businessweek, Hollywood, Disney, Warner Bros Discovery, — Time Locations: Silicon Valley, China, Hollywood
40 Years Ago, This Ad Changed the Super Bowl Forever
  + stars: | 2024-02-09 | by ( Saul Austerlitz | ) www.nytimes.com   time to read: +2 min
Four decades ago, the Super Bowl became the Super Bowl. It wasn’t because of anything that happened in the game itself: On Jan. 22, 1984, the Los Angeles Raiders defeated Washington 38-9 in Super Bowl XVIII, a contest that was mostly over before halftime. Conceived by the Chiat/Day ad agency and directed by Ridley Scott, then fresh off making the seminal science-fiction noir “Blade Runner,” the Apple commercial “1984,” which was intended to introduce the new Macintosh computer, would become one of the most acclaimed commercials ever made. It also helped to kick off — pun partially intended — the Super Bowl tradition of the big game serving as an annual showcase for gilt-edged ads from Fortune 500 companies. It all began with the Apple co-founder Steve Jobs’s desire to take the battle with the company’s rivals to a splashy television broadcast he knew nothing about.
Persons: George Orwell, Ridley Scott, Steve Jobs’s, — Scott, John Sculley, Steve Hayden, Fred Goldberg, Anya Rajah, JOHN SCULLEY, we’re, Organizations: Super Bowl, Los Angeles Raiders, Washington, XVIII, CBS, Apple, Fortune, Chiat, Businessweek, IBM Locations: Steve
Stephanie ArmourStephanie Armour is a senior special writer for health policy at The Wall Street Journal, where she covers such topics as the Covid-19 pandemic, the Affordable Care Act, Medicaid and Medicare, congressional health legislation, the opioid epidemic, and state health initiatives. A reporter for more than two decades, she has produced award-winning investigative projects on subjects including food safety, body brokering, and human trafficking. Stephanie also has written for Bloomberg and Bloomberg Businessweek, USA Today, The Des Moines Register, and The Daily Tribune in Ames, Iowa. Her journalism awards include a First Place Headliner Award from the Press Club of Atlantic City, a First Place Sigma Delta Chi Award from the Society of Professional Journalists and a First Place in Consumer Journalism Award from the National Press Club. She lives in Washington D.C. and has a degree in English from the University of Minnesota.
Persons: Stephanie Armour Stephanie Armour, Stephanie Organizations: Wall Street, Affordable, Bloomberg, Bloomberg Businessweek, USA, Des Moines Register, The Daily Tribune, Press, Sigma Delta Chi, Society of Professional Journalists, Consumer, National Press, Washington D.C, University of Minnesota Locations: Ames , Iowa, Atlantic City, Washington
Bloomberg Businessweek, a weekly magazine for the past 94 years, is going monthly, the company told staff members on Thursday. There was no indication in the memo that the Businessweek name would change. “But we see demand in both digital and print for the ambitious long-form journalism Businessweek is now well known for.”Businessweek was a struggling brand when Bloomberg bought it in 2009. The company renamed the magazine Bloomberg Businessweek, and its bold and provocative covers generated a surge of renewed interest. But it has not avoided the persistent headwinds facing all print publications, including ever-declining circulation and lower advertising revenue.
Persons: David Merritt, Katie Boyce, Organizations: Bloomberg Businessweek, The New York Times, Businessweek, ” Businessweek, Bloomberg
A 43 year-old hedge fund exec was revealed as one of the world's leading deep-sea treasure hunters. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA hedge fund executive has been unmasked as one of the world's leading deep-sea shipwreck hunters after a Bloomberg Businessweek investigation uncovered his decades-long hunt for sunken treasure worth billions. Marshall Wace is one of the world's biggest hedge funds, managing assets worth about $62 billion. AdvertisementThe technology has allowed wealthy individuals like Clake to fund exploration of the seabeds.
Persons: , Anthony Clake, Marshall Wace, He's, Clake Organizations: Service, Bloomberg Businessweek, Bloomberg, SS, Colombian, US, Business Locations: London, American, South Africa, Africa, Spanish, Colombian, Bolivian, San
Amazon is continuing to lose market share to Walmart in the online grocery space, per new data. Amazon has spent 2023 reevaluating its grocery strategy, particularly for its Amazon Fresh stores. AdvertisementAfter years of trying to get shoppers to order groceries online, Amazon is still losing ground to Walmart. Walmart's grocery sales online have eclipsed Amazon's by increasingly wide margins since 2019, according to data from Insider Intelligence. By the end of 2024, Walmart will have 26.9% of online grocery sales, while Amazon will have just 18.5%, according to the data.
Persons: , Brian Lau, Andy Jassy, Amazon, Lau Organizations: Walmart, Intelligence, Amazon, Service, Insider Intelligence, Business, Insider Inc, Whole Foods, Axios, Foods, Bloomberg Businessweek, Bloomberg
In a survey of jobs Americans would most like to see replaced by robots, the umpire would surely rank near the top. (The MLB league official tells me that legalized gambling has not been a factor in implementing ABS.) Frustratingly, the subjective has infiltrated what initially felt like a technological problem: What does the perfect strike zone even look like anyway? The MLB league official agrees, telling me the Jetson Robot Home Plate Ump is not in their plans. "Growing up, my parents would go, 'Oh, the umpire's strike zone was small!'
Persons: Jordan Pacheco, Pacheco, John McEnroe, , Billy Beane, maniacally, Houston, it's, Ben Hurian, Paul Hawkins, Goltz, Tyler Le, Justin Goltz, he's, there's, rears, Tyler Fitzgerald, Fitzgerald, who's, FanGraphs, Bagwell crouch, Miguel Yajure, Phillip Evans, Evans, X, they'd, Dylan Yep, what's, we're, Rob Manfred, — England's, Calvin Baker, Baker, Drew Strotman, Billy Evans, Strotman, Greg Maddux, MIT grads, steph, klay thompson, alf, hite, mudge, hird, ove, ahn Organizations: Lexington Legends, Twitter, Major League, ump, MLB, Sony, NASCAR, Triple, Albuquerque, Colorado Rockies, Astros, Companies, English Premier League soccer, Rugby, NFL, NBA, ABS, Sutter Health Park, Cats, San Francisco Giants, River, Reno Aces, AAA, Atlantic League, Big, of Fame, Seton Hall Sports, MIT, hawkeyes, ust Locations: OKC, California, Sacramento, uman
Theo FrancisTheo Francis covers corporate news and executive compensation for The Wall Street Journal from Washington, D.C. He specializes in using a wide range of data as well as securities filings and other publicly available documents to write about complex financial, business, economic, legal and regulatory issues. Theo joined WSJ's Texas Journal edition in Dallas in 2000 and went on to cover mutual funds, pensions, insurance, hospitals and the healthcare industry for the Journal from New York and Florida. He covered financial regulation and the financial crisis from Washington for BusinessWeek in 2008 and 2009. He has taught journalism at the University of Maryland and is a graduate of the University of Illinois and the Columbia University Graduate School of Journalism.
Persons: Theo Francis Theo Francis, Theo Organizations: Wall, WSJ's Texas, BusinessWeek, Petersburg, New York Times, National Public Radio, Bloomberg News, Arkansas Democrat, University of Maryland, University of Illinois, Columbia University Graduate School of Journalism Locations: Washington ,, Dallas, New York, Florida, Washington, Petersburg , Alaska, Arkansas
It's been three years since Amazon introduced Amazon Fresh, its second chain of supermarkets. I visited an Amazon Fresh store in Maryland to see what might be rubbing consumers the wrong way. The latest example of that challenge came in early August, when Amazon said it would revamp some of its Amazon Fresh supermarkets, according to Bloomberg Businessweek. It has also canceled some Amazon Fresh store openings. Are you an Amazon Fresh employee with a story idea to share?
Persons: It's, Amazon's, Amazon, Molly McWhinnie, it's, we'll, McWhinnie Organizations: Amazon, Service, Bloomberg Businessweek, Washington Post Locations: Maryland, Wall, Silicon, Washington, U.S
Jessica Flint — Reporter at The Wall Street Journal
  + stars: | 2023-08-17 | by ( Jessica Flint | ) www.wsj.com   time to read: 1 min
Jessica FlintJessica Flint covers residential real estate for The Wall Street Journal. She is a graduate of Miami University. Previously, she was on staff at Vanity Fair, Bloomberg Businessweek, Marie Claire and Departures. She is based in Minneapolis.
Persons: Jessica Flint Jessica Flint, Marie Claire Organizations: Wall Street, Miami University, Fair, Bloomberg Businessweek Locations: Minneapolis
Steven RosenbushSteven Rosenbush is chief of the enterprise technology bureau at WSJ Pro, which focuses on the interplay of business and technology. The group publishes CIO Journal and WSJ Pro Cybersecurity, as well as two weekday newsletters. He’s a frequent speaker at Wall Street Journal conferences and industry events. Steven joined The Wall Street Journal in 2012. He covered telecommunications for USA Today and BusinessWeek magazine, and he’s the author of a book, "Telecom Opportunities for Entrepreneurs."
Persons: Steven Rosenbush Steven Rosenbush, Steven Organizations: WSJ, Wall Street, Institutional Investor, USA, BusinessWeek, Telecom, Entrepreneurs, United Press International Locations: New York, Brussels
Tim Higgins — Reporter at The Wall Street Journal
  + stars: | 2023-08-17 | by ( Tim Higgins | ) www.wsj.com   time to read: +1 min
Tim HigginsTim Higgins is a reporter for The Wall Street Journal focused on technology and automotive stories. He has written extensively about Apple, Tesla and Elon Musk, and appears regularly on CNBC as an on-air contributor. His first book “Power Play,” which explored how Tesla became the world’s most valuable auto maker, was a Wall Street Journal Business Bestseller. Before joining the Journal in 2016, he worked for Bloomberg News. A Missouri School of Journalism grad, he also earned an M.B.A. from Michigan State University.
Persons: Tim Higgins Tim Higgins, Elon Musk, Tesla, Mary Barra Organizations: Wall Street, Apple, Tesla, CNBC, Street Journal, Society for, Livingston Awards, Bloomberg News, Missouri School, Journalism grad, Michigan State University Locations: San Francisco
Amazon told Bloomberg that self-checkout is part of an effort to make Amazon Fresh attractive to more shoppers. "The customers that enjoy Just Walk Out in the Fresh stores, they really love it," Tony Hoggett, Amazon's senior vice president of worldwide grocery stores, told Bloomberg. "We are always looking for ways to make the shopping experience at Amazon Fresh as convenient as possible," an Amazon spokesperson told Insider. Besides Amazon Fresh, the company has also added the technology to some Whole Foods stores and its Amazon Go convenience stores. Within Amazon, 25 Fresh stores in the US have the technology, an Amazon spokesperson told Insider.
Persons: aren't, Tony Hoggett, Amazon's, Jason Buechel Organizations: Bloomberg Businessweek, Service, Amazon, Bloomberg, Foods, That's, Kroger, Walmart, Costco Locations: Wall, Silicon, Chicago, Southern California
Daily Harvest threw a superhero-themed party as part of a retreat last fall, Bloomberg reported. Photos of the event made their way to social media, where Daily Harvest customers who had consumed the company's French Lentil + Leek crumbles reacted poorly. "Like many businesses, Daily Harvest had an annual retreat to discuss business priorities as well as build camaraderie and collegiality among the team," Daily Harvest told Insider. Daily Harvest, which Drori founded in 2015, made a name for itself by selling frozen foods that can be used to make smoothies, soups, and other meals. Under Drori's leadership, Daily Harvest started working with influencers to promote its food.
Persons: Leek crumbles, marshmallows, Harfest, Rachel Drori, Drori, crumbles, Gross, influencers Organizations: Bloomberg, Leek, Service, Daily Harvest, Bloomberg Businessweek, Harvest Locations: Wall, Silicon, Connecticut
Bloomberg has laid off a handful in the newsroom as it shifts resources around in the organization. Bloomberg has done a rare layoff of a handful of people in its newsroom of 2,700, as it shifts resources around in the organization. In audio, Bloomberg shuttered its afternoon Boston radio program in June and replaced it with its Bloomberg Businessweek show. But Bloomberg Media is protected by its ownership by Michael Bloomberg's much larger financial information giant Bloomberg LP, whose key product, the Bloomberg Terminal, is widely used on Wall Street. Bloomberg Media CEO Scott Havens said the company grew revenue 16% in 2022, marking its 10th quarter of advertising growth.
Persons: David Merritt, Julie Alnwick McHale, Luke Morano, I've, Kim Carrigan, Tom Moroney, Joe Shortsleeve, Anthony Mancini, Michael Bloomberg's, Scott Havens, John Micklethwait Organizations: Bloomberg, Bloomberg Media Editorial, Boston, Bloomberg Businessweek, Boston Globe, Media, Bloomberg Media Locations: downturns
Opinion | How to Fix the National Drug Shortage
  + stars: | 2023-06-02 | by ( Peter Coy | ) www.nytimes.com   time to read: +3 min
If a drug manufacturer wants to supply a hospital, nursing home or other institution, it has almost no choice but to go through one of these organizations. The manufacturers pay fees to the group purchasing organization for access to its customers. The fees paid by manufacturers might ordinarily be considered illegal kickbacks under the federal anti-kickback law. That safe harbor sticks in the craw of the group purchasing organizations’ critics. “It’s the biggest scam in America, in my opinion,” Phillip Zweig, the executive director and co-founder of Physicians Against Drug Shortages, told me.
Persons: , ” Phillip Zweig, Zweig, Sara Sirota, Critics, Todd Ebert Organizations: Department of Health, Human Services, Physicians, BusinessWeek, American Economic Liberties, Federal Trade Commission, Akorn Pharmaceuticals, Bloomberg, India’s pharma, Healthcare, Chain Association Locations: America, United States, India
Gina Raimondo, US secretary of commerce, speaks during an interview in Washington, DC, US, on Thursday, March 2, 2023. Senior officials from the Department of Commerce will be traveling to Beijing and Shanghai next week as part of an effort to lay groundwork for a potential trip by Secretary Gina Raimondo later this year, according to people familiar with the planning. Elizabeth Economy, a senior advisor to the secretary on China issues, and Scott Tatlock, the deputy assistant secretary for China and Mongolia, will assess whether such a meeting between Raimondo and her Chinese counterparts would produce results to justify the visit. A visit by Secretary of State Antony Blinken, set for early February, was postponed indefinitely as tensions escalated during a Chinese surveillance balloon's cross-country trip. Since then, Commerce has taken an ad hoc approach to sensitive trade issues.
Tim Cook told GQ magazine that Apple created tools to let users monitor time spent on their devices. The Apple CEO told GQ that he looked "pretty religiously" at his own Screen Time reports. "My philosophy is: if you're looking at the phone more than you're looking in somebody's eyes, you're doing the wrong thing," Cook said. Cook told GQ that kids are "born digital," and it was "really important to set some hard rails" around their online activities. Cook has rarely revealed much about his personal life but told GQ his day starts at 5 a.m. looking at customer emails.
Where plant-based meat sits in a grocery store can affect sales. Sales of plant-based meat grew quickly during the early months of the pandemic. But that growth slowed down in 2022, leading some analysts to question the long-term potential of plant-based foods. Earlier this month, Bloomberg Businessweek published a cover story declaring plant-based meat was "just another fad." In response, Impossible took out a full-page ad in the New York Times that decried media coverage "hating on plant-based meat."
Impossible Foods is laying off 20% of its workforce, Bloomberg reported Monday. It's the third time in a year that Impossible has made cuts as plant-based meat sales slow down. The plant-based meat brand plans to eliminate 20% of its employees, Bloomberg reported on Monday, citing an unnamed source. A spokeswoman for Impossible Foods did not immediately respond to a request for comment from Insider. In January 2022, Impossible let go of a smaller group of "fewer than 15" employees, Bloomberg reported at the time.
Between '97 and '02, HBO released TV series like "Sex and the City," "The Wire," and "The Sopranos." Counterprogram, counterprogram, counterprogramFrom its very inception in the early 1970s, HBO executives came to believe that if HBO was to thrive in the long-run, it would have to focus on doing things differently than the big three commercial TV networks: ABC, CBS, and NBC. When HBO executives sent the first episode of "The Sopranos" to a focus group, it scored horribly. The screening was attended by the film's cast, HBO executives, and a collection of Russian dignitaries. Anybody could watch a new TV series from the comfort of their home, and the actors starring in new TV shows were rarely famous.
The incident has led to stress on other crypto companies, including one owned by CoinDesk's parent company. It's all unfolding as media companies fend off cuts and layoffs and an industry-wide slump in advertising revenue, which has seen big crypto companies like Grayscale, Binance, and Coinbase slash their advertising budgets. In an email to Insider, Casey reiterated that the incident does not impact CoinDesk's business. Are you a crypto or media insider with insight to share? Disclosure: Axel Springer is Insider's parent company.
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