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The Viking Holdings Ltd. IPO, which starts trading today on the New York Stock Exchange, will be the biggest IPO of 2024 so far. Viking is only the biggest in a month of standouts. Eighteen IPOs raised a combined $5.3 billion in April, according to Renaissance Capital, the busiest month for IPOs since November 2021. The stock market had a miserable April, with the S & P 500 down 4% and, unsurprisingly, many recent IPOs were down. All of the larger, most recent IPOs remain above their initial offering price.
Persons: Del Organizations: Viking Holdings, New York Stock Exchange, Renaissance Capital, IPOs, Viking, Holdings, Epic Locations: Bermuda, Del Monte
Some white-collar parents are leaving their jobs to take family gap years. It's sticking around as the world somewhat normalizes; Reddit is littered with threads looking for family gap year advice, which posters can easily find in various blogs. She now offers a family gap year and extended travel planning service for $80 to $100 an hour. "It could expand into a big business," she said, adding that her family gap year clients typically have disposable income and kids around 8 to 11 years old. AdvertisementWorld lessons, no classroom requiredNo family gap year is complete without immersive travel.
Persons: , Claire Williams, Matt, they'd, Claire, It's, Jennifer Spatz, itineraries, Amy Chang, Chang, Allen, they've, Spatz, Marisa Vitale, it's, She's, hadn't, what's Organizations: Service, Area, Federal, Global, United Nations Sustainable Locations: Sri Lanka, Sahara, worldschooling, COVID, Massachusetts, Asia, Europe, Venice, Italy, Airbnbs, Greece, Nepal, Sydney, Australia, Santiago, Chile, Spanish, Guatemala, Vietnam, Argentine, Jordan, Patagonia, Los Angeles, California, Salt Lake City, U.S
"One of the things we know about the brain and memory is that 'use it or lose it' absolutely applies," she tells CNBC Make It. "If you tend to always rely on Google to remember a particular fact, for example, and don't 'use' your brain to remember it, your brain gets very good at not remembering it." If you tend to always rely on Google to remember a particular fact ... your brain gets very good at not remembering it. Here are three simple steps you can take to wean yourself of Google and improve your recall. "Even if this doesn't work at first, and you end up having to Google it anyway, you will slowly strengthen your memory pathways and improve your recall," she says.
Persons: I've, Cynthia Borja, Borja, It's, Bill Gates Organizations: CNBC, Google
For a while, Maruyama thought her career options without a college degree would be limited to low-wage jobs or becoming an entrepreneur. Cosmetic tattoo artists, who need to complete classes and acquire a license, tattoo permanent makeup and can camouflage bald patches and tattoo full scalps to create the appearance of hair. Maruyama obtained her cosmetic tattoo artist license in 2018 while living in Savannah. Most of the open jobs Maruyama saw online were in tech and required skills she had never heard of. At the same time, Maruyama started sharing her experience looking for — and landing — a job without a college degree on TikTok under the username @degreefree.
Persons: Maruyama, Hannah Maruyama, Ryan, Hannah, furloughed Organizations: CNBC, Georgia Southern, Georgia Southern University, Yama Studios, Honolulu Fire Department, AWS Locations: Savannah, AskMakeIt@cnbc.com, Honolulu, Hawaii, Saudi Arabia
He recently took a government job that paid more than another role where he would have been able to work remotely four days a week. While he likes the job, he has a long commute, so some days he's not sure he made the right decision. And I really like the work I'm doing now in this new job. What if we matched the salary and gave you one day working from home?" You can't be like, "Oh, I'm happy to work from home," and then do absolutely nothing because it's so obvious.
Persons: Erik Bernard, Bernard, , he's, Erik Bernard Plus, I've, we've, It's, Erik Bernard I, I'm, you'll, aren't Organizations: Service Locations: Brisbane, Australia, America
As fast-food prices increase, customers are finding more value in chain restaurants. Chains like Chili's are rolling out deals and portion sizes that could best fast-food chains. Chili's new Big Smasher burger is the latest offensive move in the value wars. The Big Smasher burger, Chili's newest menu item, was served in the company's test kitchen before its official launch on April 29. And if the sheer size and taste of the Chili's burger are anything to go by, it has a shot at beating fast-food chains in the value wars.
Persons: , margarita, It's, Applebee's, John Peyton, Cate Gillon, Ian Borden, Scott Rodrick, Chris Kempczinski, Borden, McDonald's, Erin McDowell, We've, we've, Brian Paquette, Paquette, Big, Chili's, Richard Levine, Corbis, Felix Organizations: Service, Dallas, Mac, Business, Dine, Restaurant, UBS Global Consumer, Retail Conference, CNN, CBS News, Getty, Bloomberg Locations: New York, New York City, California, , New York
Eight U.S. newspaper publishers filed suit against Microsoft and OpenAI in a New York federal court on Tuesday, claiming the technology companies reuse their articles without permission in generative artificial intelligence products and incorrectly attribute inaccurate information to them. The group of eight newspaper publishers takes issue with ChatGPT and Microsoft's Copilot assistant — available in the Windows operating system, the Bing search engine, and other products the software maker produces. The legal challenge comes four months after The New York Times sued OpenAI over copyright infringement in the ChatGPT chatbot that the startup released in late 2022. The New York Times case also touched on the matter of OpenAI models regurgitating information from its articles. Correction: This article has been updated to reflect the correct day the lawsuit against Microsoft and OpenAI was filed.
Persons: Sam Altman, Microsoft's, OpenAI, Axel Springer Organizations: Economic, U.S, Microsoft, Bing, Southern, of, New York Daily News, Chicago Tribune, Orlando Sentinel, Sun Sentinel, The Mercury, The Denver Post, Orange County Register, Pioneer Press of Minnesota, CNBC, New York Times, OpenAI's, Financial, Google Locations: Davos, Switzerland, New York, U.S, of New York, Florida, California, Orange
Lisa Su, chair and CEO of Advanced Micro Devices, left, and Charles Liang, CEO of Super Micro Computer, speak at the AMD Advancing AI event in San Jose, California, on Dec. 6, 2023. Notwithstanding the after-hours move, Super Micro stock is up 205% so far this year, while the S&P 500 stock index has gained 6%. If not for a key component shortage, Super Micro would have delivered more during the quarter, Liang said on a conference call with analysts. In March, Super Micro took the place of Whirlpool in the S&P 500. Reddit, GameStop and Super Micro surge
Persons: Lisa Su, Charles Liang, LSEG, Liang Organizations: Devices, Super Micro Computer, AMD, Super, Hewlett Packard Enterprise, Super Micro, Whirlpool, GameStop Locations: San Jose , California
Following a long period of waiting, "the IPO market's back." That's according to Colin Stewart, Morgan Stanley's global head of technology equity capital markets. In an interview with CNBC's "TechCheck" on Monday, Stewart said 10 to 15 more tech companies could go public before the end of 2024, with an even "better year" in store for 2025. Morgan Stanley was the lead banker on the Reddit and Astera IPOs, positioning itself to collect roughly $37 million in total fees. Wall Street rival Goldman Sachs led the latest venture-backed tech IPO last week.
Persons: Colin Stewart, Morgan, CNBC's, Stewart, It's, we've, Reddit, Morgan Stanley, Astera, Goldman Sachs Organizations: Wall Street, New York Stock Exchange
On Wednesday the Microsoft -backed company priced shares at $32 each, above its expected range of $28 to 31 per share. In selling 23.5 million shares, it raised $752 million. Rubrik shares are trading under the ticker "RBRK." Many technology companies appeared on public markets in the 2010s as central banks kept interest rates low. Rubrik, founded a decade ago, reported a $354 million net loss in the latest fiscal year, compared to a $278 million loss in the year prior.
Persons: Rubrik, It's, Bipul Sinha Organizations: New York Stock Exchange, Microsoft, Astera Labs
Last night data security firm Rubrik priced 23.5 million shares at $32, above the price talk of 23 million shares at $28-$31, raising $752 million. Rubrik is the first tech unicorn IPO since last fall. Marex Group, a UK-based financial services company known for its global clearing business, priced 15.4 million shares at $19, the midpoint of the price talk of $18-$21, raising $292 million. Loar Holdings, which makes aerospace and defense components, priced 11 million shares at $28, above the range of $24-$26, raising $308 million. All eyes on Rubrik Rubrik is an important test of the tech IPO market.
Persons: Matt Kennedy, Rubrik, Kennedy, Ingram, Del Organizations: Marex, Nasdaq, Loar Holdings, New York Stock Exchange, Viking Holdings, Arm Holdings, Renaissance Capital, UL, Astera Labs, Forge, Companies, Ingram Micro, Epic Locations: Del Monte
Rubrik, a data-management software company backed by Microsoft , priced its IPO at $32 a share, according to a person familiar with the matter. Rubrik raised $752 million through the initial public offering, valuing the company at $5.6 billion. Rubrik now gets 91% of its revenue from subscriptions, up from 59% two years ago. Revenue increased less than 5% in the fiscal year that ended on Jan. 31, but annual recurring revenue from subscriptions jumped 47%. "Our key top-line metric is subscription ARR," Rubrik finance chief Kiran Choudary said in a videotaped presentation for the company's IPO roadshow.
Persons: Rubrik, Reddit, Kiran Choudary, Bipul Sinha, Sinha Organizations: Microsoft, New York Stock, Nasdaq, Astera Labs, Barclays, Carhartt, Venture Locations: U.S, Rubrik
Captcha tests have been around for years, but they're getting more difficult. The "I'm not a robot" tests must evolve to keep up with advancing tech, experts said. To put it another way: the robots are making it harder to prove you're not a robot. The old Captcha tests were as simple as typing out distorted words. Advertisement"I keep falling into endless loops of non-stop 'prove you're human' tests.
Persons: , Google's reCAPTCHA, they're, Captchas, Kevin Gosschalk, Taylor Swift Organizations: Service, New York Times, Wall Street Journal, Arkose Labs
Read previewSome tech devotees already seem to be losing interest in Apple's Vision Pro just months after the futuristic headset hit the market. That's bad news for Apple, which spent eight years and billions of dollars creating the Vision Pro. Apple has seemingly responded to the growing disinterest by boosting marketing around the device, evidenced by the Vision Pro's prime placement on the company's website. The Vision Pro requires its wearer to attach a battery, start the device, and move through its interface each use. BI's Jordan Hart foresaw some of those issues back in February, writing that she was running out of reasons to wear the Vision Pro after just one week.
Persons: , Mark Gurman, Apple, Gurman, BI's Jordan Hart, he'd Organizations: Service, Apple's Vision, Apple, Business, Vision
Trump Media & Technology Group, which owns the conservative Twitter clone Truth Social, went public via SPAC in late March. Short sellers, if I had to guess, feel pretty good, even if Trump's company is trying to prevent them from betting against it. AdvertisementWhile Trump is a political figure, Trump Media's stock price is not really a political story. The same day, its stock price fell by 14%, though the next day it bounced. That TMTG's stock price has fallen isn't surprising.
Persons: I'm, Jim Cramer, Donald Trump's, Trump, DJT, it's, TMTG, isn't —, Peter Kafka, doesn't, TMTG isn't, Devin Nunes —, Devin Nunes, California —, He's, It's, Emily Stewart Organizations: Trump Media & Technology Group, Twitter, Republican, Nvidia, Truth, Meta, Trump, Trump Media & Technology, Business Locations: SPAC, TMTG, California
Bill Gates has amassed an extensive — and high value — real estate portfolio. Last year, the homes owned by Gates and his former wife, Melinda French Gates, racked up a $2.7 million property tax bill last year. That's more than 700 times as much as the average American pays in property taxes each year. Gates' highest property tax bill is in Washington state, where he has a 10.5-acre property in the tony Seattle suburb of Medina along Lake Washington. While high by most standards, Gates' property tax bill represents less than 0.01% of his $148 billion net worth — and a fraction of his total tax bill.
Persons: Bill Gates, Gates, , Melinda French Gates, French Gates, ProPublica Organizations: Service, Yellowstone Club Locations: French, Seattle, Washington, tony Seattle, Medina, Lake Washington, California, Del Mar, Florida, Wellington, Montana
As long as Trump Media & Technology Group’s share price doesn’t spectacularly implode before Tuesday’s closing bell, Trump is on track to receive another 36 million shares as the owner of Truth Social. Even though Trump Media is losing money and Truth Social is very tiny, those new shares Trump is in line to receive would be valued at about $1.3 billion at current prices. Of course, Trump Media’s share price is subject to extreme volatility, meaning the value of this stake can swing wildly. ‘Grossly overvalued’Even though Trump Media’s share price has retreated since spiking to $66 last month, experts warn it remains overvalued based on fundamental metrics. Ritter, who has been studying IPOs for four decades, expects Trump Media’s share price to eventually plunge to just $1 or $2 per share.
Persons: Donald Trump, Trump, , Michael Ohlrogge, , Matthew Kennedy, Kennedy, Jay Ritter, University of Florida . Ritter, Peter Byrne, Cooley Organizations: New, New York CNN, Trump Media & Technology, Truth, Trump Media, Trump, SEC, NYU School of Law, Renaissance, Facebook, Meta, University of Florida, NYU Locations: New York
Insider Today: Bad times for big cities
  + stars: | 2024-04-21 | by ( Matt Turner | ) www.businessinsider.com   time to read: +4 min
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Wall Street balked. Aslan Alphan/Getty, Tyler Le/BIThis week's dispatchNetflix's Wall Street worryAdvertisementNetflix announced last week that it had added 9.33 million subscribers in the first three months of the year, far surpassing Wall Street expectations. Wall Street did not react well to the news, sending the stock lower. How Reddit took over Google.
Persons: , Aslan Alphan, Tyler Le, What's, Rebecca Zisser, Reddit, Abrice Cofrini, — Pam Organizations: Business, Service, Netflix, Wall, Google, Getty Images, BI, McKinsey, AP, Microsoft Locations: Russia, Mexico, San Francisco, Boston, AFP
Here's a look at his real estate portfolio, which he spent $150 million and three decades building. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. As one of the richest people in the world for decades, the Microsoft cofounder has built up an impressive real estate portfolio. Over three decades, he and his ex-wife, Melinda French Gates, spent more than $150 million on their current real estate portfolio. AdvertisementHere's a look at Gates' many homes, along with details about transfers around the Gates divorce.
Persons: Bill Gates, , I'm, Gates, Melinda French Gates Organizations: Service, The Telegraph, Microsoft, Business Locations: Washington , California, Florida, Montana, United States, Louisiana , Arkansas, Arizona, Seattle
Jefferies hosted a conference to bring together late-stage tech founders, investors and bankers. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAs bankers and venture capitalists nibbled on caviar sushi and sipped champagne and sake this week at Nobu Malibu, there was a gleeful mood at the beachside closing dinner of the Jefferies Private Internet Conference. After a Covid pause, Jefferies resumed this conference in 2022 to bring together late-stage tech founders, investors, and bankers. Related story"Beyond typical deal considerations, AI has emerged as the single biggest new influence today in tech M&A," according to Greenberg.
Persons: Jefferies, , Cameron Jefferies, Jason Greenberg, Greenberg, Goldman Sachs, David Solomon, Reddit, Marc Andreessen, Rich Handler, Andreessen Horowitz, Neerav, Goldman, JP Morgan Chase, we've, Lester Organizations: Service, Jefferies Private Internet Conference, Technology, Media, Telecom Investment Banking, Jefferies, Global Technology, Informatica, Epic, Venture, Jefferies Private Locations: Neerav Kingsland
"We realized we couldn't afford the mortgage and the car payments and everything," Stonestreet told me. Americans work more, vacation less, spend more on healthcare, and die sooner than people in other high-income economies. These factors likely explain why some Americans are moving to countries that aren't generally considered low-cost-of-living locales. She said that living abroad afforded her a degree of flexibility and spontaneity that would be out of reach back home. From their temporary perch in Tirana, Albania, the couple told me via WhatsApp that their only regret about moving abroad was not doing it sooner.
Persons: Amelia Basista, Stonestreet, Basista, Maliya, I'm, Fale, scoping, Cristina Johnson, Johnson, Mariana, Dustin Lange, that's, Mariana Lange, Mark Zoril, Andrew Hallam, Zoril, hasn't, — Zoril, Tomorrow's Organizations: State Department, American Citizens, Monmouth University, Labor Statistics, Financial Technology Association, Business Locations: South America, Denver, Cuenca, Ecuador, Germany, Canada, France, Minneapolis, Latin America, America, Puerto Morelos, Mexico, Pennsylvania, Belize, States, Austin, North Carolina, Central America, Portugal, Spain, Lisbon, Europe, Tirana, Albania
It's not just you: Reddit is taking over Google
  + stars: | 2024-04-17 | by ( Hugh Langley | ) www.businessinsider.com   time to read: +11 min
In February, Google and Reddit announced a blockbuster deal that would let Google train its AI models on Reddit content. Google said the deal, reportedly worth $60 million, would "facilitate more content-forward displays of Reddit information," leading to some speculation that Google promised Reddit better visibility in exchange for the valuable training data. Per Sistrix data, Reddit is now as visible in top Google Search results as Instagram. Google CEO Sundar Pichai on stage at Google IO 2023 JOSH EDELSON/GETTYGoogle's Reddit deal and its endorsement of Reddit content in Search show how much it sees Reddit as a crucial part of the future of search. AdvertisementYouTube already has heaps of videos offering advice on hijacking Reddit to rise to the top of Google Search.
Persons: , Semrush, Reddit, It's, Steve Paine, Paine, we've, Danny Sullivan, Prabhakar Raghavan, Sundar Pichai, JOSH EDELSON, Aleyda Solis, Orainti, Glen Allsopp, Solis, Lily Ray, Ray, Perplexity, Steve Huffman Greg Doherty, Sistrix's Paine, Natalie Slater Organizations: Service, Google, Business, Sistrix, YouTube, Amazon, LinkedIn, Getty Locations: SEOs, Reddit, TikTok
Amazon has invested billions of dollars in Prime Video to secure original content and live-streaming rights. CEO confidenceIn Amazon's recent annual shareholder letter, CEO Andy Jassy showed his continued support for Prime Video. "We have increasing conviction that Prime Video can be a large and profitable business on its own," he wrote. Among the top "catalog quality issues" were incomplete or inconsistent titles, as well as a "Season Integrity" problem. Multiple posts about wrong movie titles on Prime Video can also be found on Amazon's forum and Reddit.
Persons: Amazon, Andy Jassy, Video's headcount, they're, Anthony Palomba, Palomba, It's Organizations: Amazon, Business, MGM, BI, Prime, Citadel, House, Amazon's, University of Virginia
Andreessen Horowitz said Tuesday that it raised $7.2 billion across five different funds, a sign of optimism in the tech startup world, which has seen a dearth of significant exits over the past two years. Deal volume for U.S. venture investments in the first quarter sank to its lowest level since 2017, according to data published earlier this month by PitchBook. The firm raised a $4.5 billion crypto fund in 2022, bringing its total amount raised for crypto and blockchain investments to $7.6 billion. Andreessen Horowitz remains on track to raise more money for its crypto fund and a separate biotechnology fund, a person familiar with the matter told Bloomberg. Andreessen Horowitz wrote a $350 million check to the company, which was just getting started and has yet to make inroads in the residential real estate market.
Persons: Andreessen Horowitz, Ben Horowitz, Marc Andreessen, Horowitz, PitchBook, bitcoin, Adam Neumann Organizations: Bloomberg, PitchBook, Astera Labs, CNBC Locations: Silicon Valley, U.S
Jonathan Haidt: Kids always had play-based childhoods, but we gradually let that fade away because of our growing fears of kidnapping and other threats in the 1980s and 1990s. If they have the phones, they will be texting during class, and they will be focused on their phones. If they don’t have phones, they will listen to their teachers and spend time with other kids. Most middle school kids are entirely enmeshed in smartphones and social media. Because kids are somewhat sex-segregated online (they interact less with kids of the opposite sex), the situation is unconducive to heterosexual dating and marriage.
Persons: Jonathan Haidt, , Haidt, Dave Cicirelli, Thomas Cooley, New York University’s Leonard N, Jayne Riew, You’ve, we’re, There’s, you’ve, they’re, We’re, they’ve, Matt Villano Organizations: CNN —, Penguin Press, American Psychological Association, New York, Stern School of Business, CNN, Jayne Riew CNN, YouTube, Getty, Meta Locations: United States, America, American, Northern California, whalehead.com
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