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☆ Andreessen Horowitz to open first office outside the U.S. in London in bet UK will become crypto hub
▼ + stars: | 2023-06-12 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

LONDON — Andreessen Horowitz is opening its first office outside of the U.S. in London, the venture capital firm announced Monday. Sriram Krishnan, an ex-Twitter employee who joined Andreessen Horowitz as a general partner, will relocate to London to head up the firm's office there, Quintenz said. Andreessen Horowitz also plans to launch its first crypto startup school in the U.K. in a bid to identify future talent in the crypto and Web3 space. Andreessen Horowitz has been one of the most active investors in crypto and Web3, backing startups ranging from the crypto-based sports collectibles trading game Dapper Labs to nonfungible token marketplace OpenSea. Andreessen Horowitz was not an investor, but several rival firms, including Sequoia, were.

Persons: Coinbase, Andreessen Horowitz, Brian Quintenz, Sriram Krishnan, Quintenz, ‘ Organizations: U.S, U.S . Securities, Exchange Commission, SEC, CNBC, Twitter Locations: Silicon, Airbnb, Coinbase, London, U.S, United States, FTX, Sequoia

☆ Who wants to be a CEO right now?
▼ + stars: | 2023-06-09 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Let's be real: Being a CEO sucks right now. But 2023 has brought a level of scrutiny that makes being a CEO today a nightmare for even the toughest leader. CNN's former chief Chris Licht stepped down on Wednesday after less than a year, following intense criticism from inside and outside his newsroom. Meme stock company GameStop fired its CEO Matthew Furlong on the same day as Licht, also after a short tenure. At the low point of a boom-and-bust cycle where high interest rates and high expectations reign supreme, being a CEO sucks.

Persons: Let's, CNN's Chris Licht, —, Jack Welch, CNN's, Chris Licht, Licht, Matthew Furlong, Jeff Shell, Jack Bowles, Patience, Matt Turner, Raul Vargas Organizations: Corporate, Service, General Electric, Observers, GameStop, Google, Farmers Group Locations: freefall, British

☆ 'Jurassic Park' still has bite at 30, and here's why
▼ + stars: | 2023-06-09 | by ( Dan Heching | ) edition.cnn.com time to read: +4 min

CNN —It’s been 30 years since Steven Spielberg’s dinosaurs stampeded across the screen in the first “Jurassic Park,” but it feels more recent. Admittedly, I was the exact target audience for this creature feature, and even though I was already somewhat of a self-taught critic (note the aforementioned mouthiness), I was awed by what I saw that summer three decades ago, and my impressions of “Jurassic Park” remain to this day. Joseph Mazzello in "Jurassic Park." Laura Dern, Sam Neill and Joseph Mazzello in "Jurassic Park." Add to that the amazing and meme-worthy smaller performances from Samuel L. Jackson (“Hold onto your butts!”), Wayne Knight (“Ah ah ah!

Persons: CNN — It’s, Steven Spielberg’s, Rex, Martin Ferrero, ”, Joseph Mazzello, dino, Kong ”, Ian Malcolm, Jeff Goldblum, Michael Crichton’s, Spielberg, John Williams, Laura Dern, Sam Neill, Goldblum, there’s Laura Dern, Sigourney Weaver, Sam Neill –, Samuel L, Jackson, Wayne Knight, Bob Peck, “, you’ve Organizations: CNN, Titans, Marvel

"The first set and the second set were really, really intense and I started to cramp in my arm. Djokovic will play in his 34th Grand Slam final, his seventh at Roland Garros where he has lifted the Musketeers' Cup twice, in 2016 and 2021. With Mike Tyson watching from the stands, both players traded punches and Djokovic was on the ropes in the second set, with Alcaraz playing several spectacular shots. "Towards the end of the second set he was the better player. He's going for Grand Slam number 23 and I'm going for my first, so there's a big difference."

Persons: Novak Djokovic, Carlos Alcaraz, Casper Ruud, Alexander Zverev, Alcaraz, Djokovic, It's, Roland Garros, Carlos, ", Mike Tyson, RUUD ROLLS, Ruud, Rafa Nadal, Novak, Julien Pretot, Shrivathsa Sridhar, Christian Radnedge Organizations: Djokovic, U.S, cramp, Musketeers, Thomson Locations: Paris

☆ A top-1% fund manager over the past 3 years shares how he's consistently outperformed throughout wildly different markets — and 8 of his favorite places to invest right now
▼ + stars: | 2023-06-09 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Here are eight companies or areas of the market that Muhlenkamp said he's bullish on. Regardless of what's happened in the economy or markets, the veteran investor's namesake Muhlenkamp Fund (MUHLX) has found a way to dominate. Although energy stocks have since reversed to become the worst-performing sector of 2023, Muhlenkamp said he's stuck with the group while riding the broad rebound in technology stocks. Two other tech companies Muhlenkamp mentioned are semiconductor firms Broadcom (AVGO) and Microchip (MCHP). Outside of technology, Muhlenkamp said he continues to like stocks tied to housing and financials, including certain regional banks.

Persons: Jeff Muhlenkamp, Muhlenkamp, he's, I'd, Morningstar, Goldman Sachs, they've, they're, He's Organizations: Muhlenkamp, Apple, Microsoft, Apple Watch, Vision, Broadcom, Bank, Federal Locations: Regional

☆ The 'mother of all melt-ups' in stocks could be quickly followed by a meltdown as the bubble in overvalued names pops, Ed Yardeni says
▼ + stars: | 2023-06-08 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Stocks could face a meltdown as the bubble in firms riding the AI excitement pops, Ed Yardeni said. The current bull market in stocks is unusual, as they typically begin when valuations for firms are low, he said. But if stocks rise too quickly, it could spell trouble for the market as the bubble in overvalued names pops. That ratio is now around 18, largely due to the success of the eight mega-cap firms. High rates also risk tipping the economy into recession, experts warn, which is also likely to weigh on stocks.

Persons: Ed Yardeni, meltdowns, —, Yardeni Organizations: Service, Fox Business, Yardeni, Nvidia, Microsoft, & $

☆ Why AI wasn't mentioned at all during Apple's big WWDC presentation
▼ + stars: | 2023-06-06 | by ( Madeline Berg | ) www.businessinsider.com time to read: +3 min

Apple execs didn't mention AI once during the company's WWDC keynote. It was a deliberate choice and a stark contrast to other Big Tech companies that have embraced the term. During Microsoft, Meta, Alphabet, and Amazon's first quarter earnings calls in April, AI was cumulatively mentioned 168 times, for example. Most other Big Tech companies would likely tout these as "AI innovations" to appeal to the current enthusiasm around the term. The word wasn't mentioned one time during the entire keynote, even though many rivals would likely use the word to describe the Vision Pro headset.

Persons: —, Tim Cook, Apple execs, Amazon's, Cook, Apple, There's, Siri Organizations: Apple, Big Tech, Morning, Microsoft, Google Locations: Valley, Dutch

☆ Everyone is getting less productive, and that's a big problem for the economy
▼ + stars: | 2023-06-06 | by ( Joe Ciolli | ) www.businessinsider.com time to read: +5 min

Even though the economy feels largely fine right now, such a decline has been a leading indicator of past recessions. Labor productivity has fallen for five straight quarters on a year-over-year basis, the longest such streak on record. Productivity is important to the economy because it's the primary input for a population's standard of living. As Insider reported in March, major retailers like Walmart, Target, and Kroger are locked in a labor-hoarding war over hourly employees that's pushed pay higher. In the meantime, the decline in productivity is setting off alarm bells for the economy.

Persons: —, Taylor Swift, they're, Larry Summers, Summers, Mark Zuckerberg, Marc Benioff, OpenAI's, there's, It's, Paul Tudor Jones, Ed Yardeni, Goldman Sachs Organizations: Service, Airlines, Bureau of Labor Statistics, Labor, Washington Post, Walmart, Target, Kroger, Stanford, MIT, Fortune, Brookings Institute

☆ How to land a job with Blackstone, Apollo, KRR, and other private equity titans
▼ + stars: | 2023-06-06 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +6 min

Private equity is often seen as the Holy Grail of finance jobs — but breaking in can be challenging. We also have data on private equity pay and the industry's top recruiters. Here is what we found about pay at private equity firms, including Blackstone, Apollo, and Bain Capital. Private equity recruiting has been starting earlier than ever Getty ImagesPrivate equity firms like to recruit young talent from investment banks. These days, the private equity recruiting process has started earlier than ever, resulting in middle-of-the-night interviews with offers being made — and blown up — all before Labor Day.

Persons: —, bymuratdeniz, Blackstone, Samantha Lee, Drew Angerer, Skye Gould, Jon Gray, Grace Koo, Read, Carlyle, Alex Crisses, Thoma Bravo, Warburg Pincus, Wharton's, Axel Springer Organizations: Blackstone, KKR, Service, Apax Partners, Oaktree, of Foreign Labor, Apollo, Bain Capital, Labor, General Atlantic, PJT Partners, Partners, dealmakers, Wall, University of Michigan Locations: Carlyle, Blackstone, Axel

☆ The Many Cameos of Stan Lee
▼ + stars: | 2023-06-03 | by ( George Gene Gustines | ) www.nytimes.com time to read: +2 min

Distinguished CompetitionMr. Lee and Marvel are irrevocably linked, but he was no stranger to working with superhero industry rivals DC Comics. From 2001 to 2002, DC released a “Just Imagine” series of stories written by Mr. Lee in which he reinterpreted Superman, Batman, Wonder Woman and other heroes. A cartoon version of Mr. Lee also appeared in DC’s 2018 animated film “Teen Titans Go! In one story, Mr. Lee playfully admonishes the team for recent developments, including “Alcoholic Iron Men!” and the mohawk haircut for the X-Men’s Storm. But the original, unused photo was bolder: It was a nude picture of him with a strategically placed comic book.

Persons: Lee, ”, “ Stan Lee ”, “, Brad Meltzer, Lee’s, Eliot R, Brown, “ I’m Organizations: Marvel, DC Comics, DC, Marvel Comics, Entertainment, Hero Initiative

☆ C919: Why China's answer to Boeing and Airbus isn't as 'homegrown' as it seems
▼ + stars: | 2023-06-02 | by ( Michelle Toh | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —China is claiming a historic win this week after its answer to Boeing and Airbus, the C919, took to the skies for its first commercial flight. But instead of boosting China’s global stature in technology innovation, experts say the C919 is a symbol of its continued reliance on the West. COMAC’s first commercial plane, by comparison, is a much smaller regional jet called the ARJ21, which can only fly up to 3,700 kilometers (2,300 miles) and accommodate up to 97 passengers. Technicians working on a COMAC C919 aircraft under assembly at the COMAC Shanghai Research and Development Center in 2017. Boeing and Airbus also depend on “high-quality global suppliers,” state-run newspaper China Daily said in an editorial Wednesday.

Persons: ”, Scott Kennedy, Scott, Shukor Yusof, it’s, Kennedy, “, Qilai Shen, Yusof, VCG, Parker, Rockwell Collins, America’s, COMAC, COMAC hasn’t, there’s, ” Yusof Organizations: Hong Kong CNN, Boeing, Airbus, Center for Strategic, International Studies, Commercial Aircraft Corporation of China, Endau, CNN, China Eastern Airlines, Shanghai Research, Development Center, Bloomberg, China, Global Times, GE, CFM, China Daily, America’s Boeing, US, TransNusa, “ Airlines Locations: Hong Kong, China, Beijing, North America, Europe, Washington, Shanghai, Russia, Ukraine, Russian, Asia, United States, European, Malaysia, Indonesia

The characters on the HBO show "Succession" often reference real events and billionaire figures. Here's what the Roys have said, done, and worn that capture the real-life world of the rich. Top editors give you the stories you want — delivered right to your inbox each weekday. The HBO drama, which has won awards for its acting and writing, is also incredibly well-researched. There are obvious nods: The Roys, like the Murdochs and the Arnaults, have succession drama that's made for TV.

☆ I drove the $180,000 Lucid Air and experienced the stunningly fast, screen-filled future of luxury cars
▼ + stars: | 2023-05-21 | by ( Tim Levin | ) www.businessinsider.com time to read: +9 min

I drove the Lucid Air Grand Touring Performance, a $180,000 electric car. The Lucid Air Grand Touring Performance. The Lucid Air Grand Touring Performance. The Lucid Air Grand Touring Performance. The Lucid Air Grand Touring Performance.

☆ Uber's AI potential is making it stand out among its peers. Here's what that could mean for its stock.
▼ + stars: | 2023-05-19 | by ( Michelle Fox | ) www.cnbc.com time to read: +11 min

All told, there is a nearly $6 trillion in revenue opportunity from AI across the internet industry, a March report from Morgan Stanley found. "UBER/LYFT/DASH already use ML [machine learning] in their matching algorithms (matching rides/eaters with drivers/couriers)," Morgan Stanley wrote in its report. AI tailwind for Uber Uber has both its ride-sharing service and UberEats food delivery business. According to Morgan Stanley, AI and machine learning will be a tailwind to network efficiency. "The extent to which AI drives substantial improvements in top-line growth could lead to teens upside [for the stock]," Morgan Stanley said.

A clash of private equity titansIn most years, the $2.7 billion takeover of a German software company wouldn’t attract much attention. Silver Lake on Wednesday kicked off a tender offer for Software AG shares, at 32 euros ($34.60) a share. Together with a 5 percent stake that the firm acquired in the open market, Silver Lake owns about 30 percent of the German company. (That campaign led Silver Lake to increase its takeover bid from €30 a share.) It is rare to see private equity firms, which generally seek friendly deals, pursuing an unsolicited takeover offer that management has opposed.

☆ Elon Musk says he's upped his sleep to 6 hours per night—and that his old routine hurt his brain
▼ + stars: | 2023-05-18 | by ( Ashton Jackson | ) www.cnbc.com time to read: +2 min

Elon Musk says his days of trying to sleep less and work more are over — at least, relatively speaking. "And the brain pain level is bad if I get less than six hours [of sleep per night]." Now he gets at least seven hours of sleep, he wrote in a 2019 blog post. Musk often works seven days per week and only takes "two or three" truly workless vacation days per year, he said on Tuesday. "I work seven days a week, but I'm not expecting others to do that."

☆ Layoffs aren't over yet for tech giants as managers prepare to tighten on the 'laptop generation,' says tech investor Gene Munster
▼ + stars: | 2023-05-18 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Tech layoffs are far from over, according to tech investor Gene Munster. He also sees them getting tighter on the "laptop generation" who refuse to return to the office. More layoffs could be on their way at big tech firms as bosses prepare to tighten on the "laptop generation," according to Gene Munster. Munster's comments come as tech companies shift their tone away from growth to focus on efficiency. Munster thinks that "there has been this laptop generation" that "some of these tech companies are going to tighten on."

☆ A secretive annual meeting attended by the world's elite has A.I. top of the agenda
▼ + stars: | 2023-05-18 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Sam Altman, CEO of OpenAI, is one among a number of business and political leaders set to join the annual Bilderberg Meeting in Lisbon, Portugal. OpenAI CEO Sam Altman will join forces with key leadership from firms like Microsoft and Google this week as a secretive meeting of the business and political elite kickstarts in Lisbon, Portugal. Artificial intelligence will top the agenda as the ChatGPT chief meets with Microsoft CEO Satya Nadella, DeepMind head Demis Hassabis, and former Google CEO Eric Schmidt at the annual Bilderberg meeting. All in, around 130 participants from 23 countries are set to attend the private meeting — a similar number to previous years. However, the event's organizers say that the discrete nature of the event is to allow for greater freedom of discussion.

☆ Tech titans who are trying to live forever might soon have new ammunition: Next-gen anti-aging pills
▼ + stars: | 2023-05-18 | by ( Hilary Brueck | Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

These drugs tame "zombie cells" which can contribute to age-related diseases. New drugs could clear harmful zombie cells from the body entirely – but research is still ongoing. Metformin is among a class of drugs called "senomorphics," pills that are showing promise taming aging cells known as senescent cells. These are cells in the body that have stopped multiplying, yet don't die—earning them the nickname "zombie cells." For the rest of us, Kirkland says "things like exercise and dieting can reduce senescent cell burden as well."

☆ China's Tencent posts 11% jump in quarterly revenue — the fastest growth in more than a year
▼ + stars: | 2023-05-17 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Tencent reported an 11% jump in quarterly revenue Wednesday, marking its fastest growth in more than a year, as the company saw a big rebound in payment volumes, ad sales and gaming. Here's how Tencent did in the first quarter, versus Refinitiv consensus estimates:Revenue : 150 billion Chinese yuan ($21.4 billion) vs. 146.09 billion yuan expected, a rise of 11% % year-on-year. : 150 billion Chinese yuan ($21.4 billion) vs. 146.09 billion yuan expected, a rise of 11% Profit attributable to equity holders of the company: 25.8 billion yuan vs. 31 billion yuan expected, a rise of 10% year-on-year. The results mark a strong bounce back to growth for Tencent after a succession of negative and flat quarters. Investors were focusing on whether the reopening of China's economy will give a boost to the country's tech giants, including Tencent.

☆ The CEO of a $900 million asset manager shares 6 stocks to buy to take advantage of the coming AI revolution — and explains how investors can diversify their holdings to capitalize on emerging tech tr
▼ + stars: | 2023-05-13 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +6 min

She also oversees the Defiance Quantum ETF (QTUM), which invests in quantum computing and machine learning companies. "They're clear leaders and no matter what happens, they'll invest in artificial intelligence, data pricing, machine learning, and quantum computing," she explained. "But even if that happens, you're still okay because you have the high-quality tech companies to hedge your basket … We look at it as balance plus opportunity." Besides the Defiance Quantum ETF (QTUM), other options include Global X Robotics & Artificial Intelligence ETF (BOTZ), the ALPS Disruptive Technologies ETF (DTEC), and the iShares Robotics and Artificial Intelligence Multisector ETF (ITRBO). Amazon (AMZN) is another stock that has been propelled higher thanks to its web services and machine learning division.

☆ Indian Tech’s Promise of Rivaling China Is Falling Apart
▼ + stars: | 2023-05-10 | by ( Megha Mandavia | ) www.wsj.com time to read: +1 min

Technology-education company Byju’s is the most highly valued Indian startup—on paper. Photo: manjunath kiran/Agence France-Presse/Getty ImagesThe Indian edtech company Byju’s was the poster child of the Asian country’s startup boom, attracting a lofty valuation while meeting the needs of millions of students across the country as the pandemic hurt their access to schools and education. It is now turning out to be a symbol of everything that went wrong with India’s promise of creating internet companies to rival such Chinese titans as Alibaba and Tencent. The country’s hot startup ecosystem, which lured such investors as SoftBank and Tiger Global, is facing questions on financial accountability and discipline, expensive acquisitions, heady valuations and whether investors overestimated India’s total addressable market, or TAM. Public listings have been delayed, and layoffs are now almost a daily occurrence.

☆ Frankfurt Stadium to host Kansas City Chiefs in maiden NFL game
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +2 min

Five international fixtures will take place over October and November with three in London. Only one regular-season NFL game has ever been staged in Germany, last season's clash between Tampa Bay Buccaneers and Seattle Seahawks in Munich's Allianz Arena. The Frankfurt Stadium will host reigning Super Bowl champions Kansas City Chiefs on Nov. 5 for their game against Miami Dolphins and a week later will welcome Indianapolis Colts and the New England Patriots. "We are... pleased to confirm that the two games in Germany will be played in Frankfurt, a city steeped in NFL heritage. The Jaguars will kick off the international fixtures against Atlanta Falcons on Oct. 1 at Wembley Stadium.

☆ Buttler regains form but Hyderabad clinch last-ball thriller
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +2 min

NEW DELHI, May 8 (Reuters) - Rajasthan Royals opener Jos Buttler roared back to form but Abdul Samad's last-over heroics ensured Sunrisers Hyderabad had the last laugh in Sunday night's dramatic Indian Premier League (IPL) contest. England limited-overs captain Buttler started the season well but went into the match without a fifty in his previous six knocks that included a couple of ducks. But with Hyderabad needing 41 runs off the last two overs, Glenn Phillips, who made 25 off just seven balls, turned the match on its head. Samad smacked the final delivery over the bowler's head for a flat six to secure Hyderabad's fourth win in 10 matches. Rajasthan captain Samson defended picking Sandeep to bowl the final over.

☆ Silicon Valley's Hail Mary moment
▼ + stars: | 2023-05-07 | by ( Linette Lopez | ) www.businessinsider.com time to read: +14 min

Silicon Valley has entered the Hail Mary phase of its business cycle — a desertic part of a tech-industry downturn where desperation can turn into recklessness. Don't fear the robotsTo understand the Hail Mary moment, it's important to understand the actual capabilities of technology these tech titans are touting. Again, what Musk is describing is AI general intelligence — something much more advanced than the generative AI OpenAI is building on at the moment. During the pandemic when governments were handing out cash and people were stuck at home, the world bought everything Silicon Valley was selling. But those are exactly the types of workers getting laid off in Silicon Valley right now.

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