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☆ Inside digital health's reckoning, where once-hot startups are suddenly scrambling for cash
▼ + stars: | 2023-01-31 | by ( Blake Dodge | Rebecca Torrence | ) www.businessinsider.com time to read: +11 min

Analysts and CEOs told Insider more than half of healthcare startups will shut down by 2024. Healthcare startups looking to stay afloat have been laying off employees left and right. The online pharmacy Truepill burned through its cash as it struggled to fill prescriptions efficiently, two former employees told Insider. A spokesperson for Truepill told Insider in an email that the company's burn rate was in line with its projections. Courtesy NOCDWhile the broader economic pressures will hurt many startups that can't raise, it may help others, experts told Insider.

☆ A high school basketball coach is still out $10,000 after Southwest canceled a flight and left his whole team stranded in Las Vegas for 5 days over Christmas. They ended up chartering a bus to drive 1
▼ + stars: | 2023-01-29 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +8 min

A Seattle high school basketball team spent Christmas in Vegas after a canceled Southwest flight. "He was like, 'I just want to get those kids home safely,'" Virginia Bethea said. Michael and Virginia Bethea even went out and bought each of the kids a Christmas gift. "This is probably the best Christmas, in all honesty," Virginia Bethea said, adding "just to be able to serve people through this time. "They put more Black boys in college than all high school basketball programs combined in the state of Washington," Virginia Bethea said.

☆ The dealmaking boom meant fast timelines and loose due diligence. But high-profile implosions like FTX and Frank mean would-be sellers can expect more scrutiny, insiders say.
▼ + stars: | 2023-01-27 | by ( Paige Hagy | Bianca Chan | Carter Johnson | ) www.businessinsider.com time to read: +10 min

We don't want to look like JPMorgan,'" Jason Mikula, fintech analyst and writer behind Fintech Business Weekly, told Insider. How closely they adhere to it matters greatly in terms of if a deal is on the line," Mandelbaum told Insider. Investors pumped $132 billion globally into fintechs in 2021 and there were more than 900 fintech M&A exits, according to CB Insights. "It's now a buyer's market," Rob Brown, CEO of Lincoln International, a global investment-banking advisory firm, told Insider. One way companies might optimize the due-diligence process without cutting corners is by leaning on machines to help with the heavy lifting.

☆ A cosmetic dermatologist says he's seeing 'Ozempic face,' or gaunt cheeks from taking the buzzy weight loss drug
▼ + stars: | 2023-01-26 | by ( Allana Akhtar | ) www.businessinsider.com time to read: +4 min

A cosmetic dermatologist explained why he coined the term "Ozempic face," named after the buzzy weight loss drug. He treats "Ozempic face" by inserting fillers to revolumize the face, but said too many injections can create an unnatural look. Rapid weight loss causes skin saggingDr. Rocio Salas-Whalen, a board-certified endocrinologist, said "Ozempic face" is a result of rapid weight loss, not the drug itself. The weight-loss drug causes overall fat loss, so every part of the face loses fat, like around the temple or jaw line. Treating "Ozempic face" requires injecting fillers to add volume to the whole face, not just the cheeks.

☆ A plastic surgeon says he's seeing 'Ozempic face,' or gaunt cheeks from taking the buzzy weight loss drug
▼ + stars: | 2023-01-26 | by ( Allana Akhtar | ) www.businessinsider.com time to read: +4 min

A plastic surgeon explained why he coined the term "Ozempic face," named after the buzzy weight loss drug. He treats "Ozempic face" by inserting fillers to revolumize the face, but said too many injections can create an unnatural look. Rapid weight loss causes skin saggingDr. Rocio Salas-Whalen, a board-certified endocrinologist, said "Ozempic face" is a result of rapid weight loss, not the drug itself. The weight-loss drug causes overall fat loss, so every part of the face loses fat, like around the temple or jaw line. Treating "Ozempic face" requires injecting fillers to add volume to the whole face, not just the cheeks.

☆ How the dollar's sharp reversal could be an unexpected positive for these companies
▼ + stars: | 2023-01-25 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

But with the dollar's stunning reversal since then, some companies should conversely start to catch a currency break and potentially see upside surprises. In the fourth quarter, because of the sophisticated hedging strategies from companies, they may not get the full benefit of the dollar's decline. Johnson & Johnson, for instance, said fourth quarter sales fell, in part because of the negative impact from currency translation. 3M said fourth quarter sales were 5% lower than they would have been were it not for the stronger dollar. Sacconaghi said the market has typically rewarded tech companies' "currency beats."

☆ Bill Gates is ‘very optimistic’ about the future: ‘Better to be born 20 years from now...than any time in the past’
▼ + stars: | 2023-01-24 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Bill Gates spends a lot of his time sounding the alarm over existential global threats, like climate change and future pandemics. Yet the billionaire Microsoft co-founder and philanthropist says he's still "very optimistic" about humanity's future on Earth. Even with challenges facing current and future generations, Gates says anyone born in the next few decades will be better off than people born at any previous point in history. Gates asked, noting that the average lifespan for human beings has vastly improved over the past three centuries. "So, the scope of human innovation over time ... is a phenomenal story."

☆ A Ukrainian soldier died on the battlefield in Bakhmut. His death has sparked a fierce dispute between some American veterans and a volunteer trainer.
▼ + stars: | 2023-01-21 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +13 min

While entering a house in Bakhmut, two Ukrainian soldiers were ambushed by Russian troops. While he was doing laundry, Wang said a dark-green SUV suddenly pulled up and he heard a Ukrainian soldier shout, "De medyky?" More muscle than the pork ribsWang, by his own admission, decided to take charge of rescuing the wounded Ukrainian soldier. Diego Herrera Carcedo/Anadolu Agency via Getty ImagesIn the phone conversation with Insider, Wang defended his involvement in the death of the Ukrainian soldier. A wider tapestry of issuesThe SOLI instructors said the Bakhmut deaths were just one part of a wider tapestry of issues caused by Wang's inexperience and overzealousness.

☆ What diabetes is revealing about the benefits and risks of personal medicine connected to the internet
▼ + stars: | 2023-01-21 | by ( Ellen Sheng | ) www.cnbc.com time to read: +4 min

Devices such as insulin pumps, which go back decades, and continuous glucose monitors, which monitor blood sugar levels 24/7, are increasingly connected to smartphones via Bluetooth. Sleep apnea, Type 2 diabetes and remote health careIt's not just diabetes where the medical device market is offering patients new benefits from remote monitoring. The number of internet-connected medical devices grew during the pandemic, as lockdowns created a big push to treat people at home. Multiple forms of medical cybersecurity riskIndustry security experts categorize cybersecurity risks of medical devices into three buckets. Many medical devices such as insulin pumps require patients to create online accounts to download data to a computer or smartphone.

☆ We sold our belongings and bought a $2.5 million cabin on a luxury residential cruise ship that will sail the world. Here's what we're excited about and how we're preparing to live at sea.
▼ + stars: | 2023-01-19 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +8 min

We got the whole ship, and we're going to be going ashore as much as we like. They sold their house and went all-in on living at seaAngela: We opted for the leasehold period of 24 years. That's really what we're gonna live off of. So everyone that's living on this ship, you're not going to be having the carnival nights and the crazy college party ambiance. Well, the Narrative is not going to spend just one day at port, they're going to spend three days, four days, five days depending on where you're going.

☆ Meet Brian Sodre, the Florida developer using prefab technology to replace hurricane-ravaged Fort Myers homes with 750-square-foot tiny fortresses
▼ + stars: | 2023-01-19 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +4 min

Brian Sodre is helping Fort Myers, Florida, rebuild with prefabricated tiny homes. prefabricated tiny homes. Sodre says prefab tiny homes can ease the housing-affordability crisis in Fort Myers and beyond. Courtesy of Brian SodreMiniopolis is already set to build eight different made-to-order homes in the Fort Myers area. The typical home in Fort Myers goes for nearly $397,000, up 16.7% from the same time last year, according to Realtor.com .

Philadelphia Flyers defenseman Ivan Provorov refused to participate in pregame warmups Tuesday, ahead of his team's Pride Night celebration, citing religious objections. While Flyers coach John Tortorella called the hockey team's Pride Night event "a great night," he also defended Provorov's refusal to participate. "With Provy, he's being true to himself and to his religion," Tortorella said, using Provorov's nickname. “The Philadelphia Flyers organization is committed to inclusivity and is proud to support the LGBTQ+ community,” the team said in a statement after the game. “Many of our players are active in their support of local LGBTQ+ organizations, and we were proud to host our annual Pride Night again this year.

☆ Provorov was 'free to decide' to boycott Pride Night, says NHL
▼ + stars: | 2023-01-18 | by ( Frank Pingue | ) www.reuters.com time to read: +3 min

Jan 18 (Reuters) - The National Hockey League (NHL) said on Wednesday that players are free to decide which initiatives to support after Philadelphia Flyers defenseman Ivan Provorov's boycott of the team's Pride Night festivities. The NHL, whose annual "Hockey is for Everyone" campaign each February focuses on ways to promote diversity and inclusion, said Provorov was within his rights to sit out the warmup. "Clubs decide whom to celebrate, when and how — with league counsel and support," the NHL said in a statement. "Players are free to decide which initiatives to support, and we continue to encourage their voices and perspectives on social and cultural issues." The group also said it was disappointed the focus following the Flyers' Pride Night is on Provorov rather than an arena that was otherwise full of support for the LGBTQ+ community.

☆ Analysis: Bond traders get their swagger back in rate-obsessed markets
▼ + stars: | 2023-01-17 | by ( Lananh Nguyen | ) www.reuters.com time to read: +5 min

REUTERS/Andrew KellyNEW YORK, Jan 17 (Reuters) - Bond traders are stars again on Wall Street. Fixed income, currencies and commodities (FICC) traders bolstered bank profits last year despite dreary deal markets. Bond specialists in the $22 trillion Treasuries market are in high demand as the Federal Reserve and other central banks have aggressively raised interest rates over the past two years. After the financial crisis, central bankers in the United States and advanced economies steadied markets by holding interest rates near zero. On Tradeweb Markets Inc's (TW.O) electronic bond trading platforms, average daily volumes rose almost 10% in 2022.

☆ Salary Transparency Is Coming — so I Decided to Tell Everyone What I Make
▼ + stars: | 2023-01-16 | by ( Aki Ito | ) www.businessinsider.com time to read: +37 min

But there's a glaring catch to my support for pay transparency: I haven't actually practiced it in my own life. To find out why, I decided to commemorate the dawning age of salary transparency by telling pretty much everyone in my life what I earn. Norway responded to pay transparency with yet another level of transparency, and that brought down the level of snooping.. Thanks to its nationwide experiment, Norway has been fertile ground for scholars trying to measure the consequences of extreme pay transparency. But I do believe that as more states implement pay-disclosure laws — and as Gen Z increasingly comes to dominate the workforce — salary transparency is going to become the new norm.

☆ We asked House lawmakers about scandal-plagued Rep. George Santos. Most Republicans want nothing to do with him.
▼ + stars: | 2023-01-14 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +18 min

But Santos is clearly a problem for House Republicans. But three days later, Miller — who actually represents Ohio's 7th district — became the eighth House Republican to publicly call for Santos to resign. said Republican Rep. Ralph Norman of South Carolina, who said that Santos "seems nice" even as he appeared unaware of the extent of his controversies. At a press conference on Thursday, House Minority Leader Hakeem Jeffries pointedly declared that Santos was "an issue that Republicans need to handle." Santos and Ocasio-Cortez briefly spoke on the sidelines of a gaggle of GOP lawmakers on the House floor on Wednesday, January 4.

☆ Bitcoin volatility fell to historic lows this week. Here’s why that might be bad news
▼ + stars: | 2023-01-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

"An uptick in bitcoin volatility would, rather than trigger concern, be greeted as a positive sign and would most likely be closely followed by a similar move in spot and derivative trading volumes." Sigel also pointed to bitcoin miners who may be selling covered calls in order to monetize profits as much as they can. Bitcoin miners have had a difficult time with the bitcoin price stuck at such low levels. "Each time volatility has been this low, historically, bitcoin prices have bottomed," said Alex Thorn, head of firmwide research at Galaxy Digital. Thorn said that while seeing lenders and exchanges collapse feels unstable, the crypto market will emerge from this period having significantly matured.

☆ The tech IPO market collapsed in 2022, and next year doesn't look much better
▼ + stars: | 2022-12-29 | by ( Ari Levy | ) www.cnbc.com time to read: +7 min

The Stockholm-based company raised financing at a $6.7 billion valuation this year, an 85% discount to its prior valuation of $46 billion. Butler doesn't expect the IPO market to get appreciably better in 2023. Butler also thinks that Silicon Valley has to adapt to a shift away from the growth-first mindset before the IPO market picks up again. Butler said he expects this "cultural reset" to take a couple more quarters and said, "that makes me remain pessimistic on the IPO market." Databricks raised $1.6 billion at a $38 billion valuation in August of 2021, near the market's peak.

☆ Aldi is the US's fastest-growing grocery chain and more middle-income households are shopping there. Here are the no-frills tactics that help make it so cheap.
▼ + stars: | 2022-12-28 | by ( Grace Dean | ) www.businessinsider.com time to read: +13 min

More middle-income households are shopping there, lured by low prices and Aldi's "treasure hunt" approach. Smaller properties are cheaper to buy and maintain, and Aldi has said that its store layout enables "quick and easy shopping." Monford added that consumers "don't mind" that products aren't taken out of their boxes because they're shopping at Aldi for value. Campbell said the Aldi stores near her generally had just four or five aisles. Vadakkepatt said Aldi's stores have fewer employees and shorter hours than at other chains.

☆ Musk's yes-men: 5 experts break down why it's difficult to 'speak truth to power.'
▼ + stars: | 2022-12-28 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +4 min

Like yesterday, we're continuing with some of the year's best stories from our VC and startups team. Why it's difficult to "speak truth to power." The top VC and startups stories of 2022:Union Square Ventures; 645 Ventures; Race Capital; Mindset Ventures; Marianne Ayala/Insider6. Former Amazon leaders have infiltrated the tech industry. After dominating the VC industry last year, crossover funds spent 2022 pulling back.

☆ Stop complaining, says billionaire investor Charlie Munger: 'Everybody's five times better off than they used to be'
▼ + stars: | 2022-12-27 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Billionaire Charlie Munger thinks we should all be a lot happier. During that annual meeting, Munger complained that envy is a driving factor for too many people today. In 2019, Munger downplayed the effects of wealth and income inequality, and claimed that the politicians who were "screaming about it are idiots." At the Daily Journal's annual meeting this year, he added that most people's concerns over wealth inequality and criticisms of the extremely wealthy were "motivated" by envy. Sign up now: Get smarter about your money and career with our weekly newsletterDon't miss: Billionaire investor Charlie Munger: ‘The world is not driven by greed, it’s driven by envy’

☆ Elon Musk is surrounded by yes-men, and it's a recipe for disaster: 'The emperor has no clothes, but everybody's too afraid to tell him'
▼ + stars: | 2022-12-27 | by ( Grace Kay | ) www.businessinsider.com time to read: +6 min

Experts told Insider Elon Musk's close business relationships is a "recipe for disaster." Experts told Insider it's not surprising that the second-richest man in the world would be taken aback by public criticism. Across his companies, Musk also appears to have built up a slew of allies. Similarly, at Twitter, Musk has also brought in some of his personal associates to assist in the transition. 'Speak truth to power'It can be very difficult to "speak truth to power," Nawaz told Insider, saying it's important for CEOs to create "psychologically safe" environments.

☆ I've gotten celebs like Post Malone and DJ Khaled to share stories about being self-made. Here's what they've told me and how I get them to open up.
▼ + stars: | 2022-12-26 | by ( Eboni Boykin-Patterson | ) www.businessinsider.com time to read: +5 min

Brett Berish is the CEO of liquor company Sovereign Brands, which sold one of its brands to Jay Z. He hosts the celebrity interview series 'Self-Made' where celebs share their rags to riches stories. When I see people hold the bottles on Instagram or somewhere, I feel like I've achieved something — I've created something. My favorite conversations on the show are the most transparentMy first "Self-Made'' interview was in 2017 with Post Malone. I'm intrigued by these 'Self-Made' stories because I have one tooI've been in the liquor business for over 20 years.

☆ Instant view: Fed hikes rates by 50 bp, as expected, keeps hawkish tone
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +8 min

CHRIS ZACCARELLI, CHIEF INVESTMENT OFFICER, INDEPENDENT ADVISOR ALLIANCE, CHARLOTTE“The Fed is taking away the punchbowl just as the party was getting started. They're reiterating their forecasts but the whisper number was that the Fed was going to stop at a 4.5%-4.75% terminal rate. "But the Fed is out there saying that 5.1% is still on the cards … and that rate hikes will continue." BRIAN JACOBSEN, SENIOR INVESTMENT STRATEGIST, ALLSPRING GLOBAL INVESTMENTS, MENOMONEE FALLS, WISCONSIN“The most interesting part of the releases were in the Summary of Economic Projections. And they’re holding it there longer than markets expected.”“In addition, they’re downgrading GDP estimates for this year, and in particular, for next year.

☆ Conservative senators hail member-led strategy session as 'good first step' in dealing with mounting frustrations about Mitch McConnell's leadership
▼ + stars: | 2022-12-14 | by ( Warren Rojas | ) www.businessinsider.com time to read: +4 min

A group of Senate Republicans hosted their first member-led policy discussion on Wednesday. Attendees said Senate Minority Leader Mitch McConnell was in the room but didn't participate. "Nothing was fleshed out," Braun told reporters at the US Capitol, adding that "I think it's the beginning, maybe, of a more participatory process." Still, convening more meetings, which Cornyn said this group seemed inclined to do, is preferable to the scorched-earth tactics others have embraced in the past. "I think they're good meetings to have," Rubio told Insider.

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