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☆ Google's AI teams are experiencing a brain drain. Here's where its top researchers are now.
▼ + stars: | 2023-03-23 | by ( Thomas Maxwell | Hugh Langley | ) www.businessinsider.com time to read: +12 min

Top AI researchers have been leaving for startups where their work can have more impact. That frustration over Google's slow movement has been corroborated by other former Google researchers who spoke to Insider. Niki Parmar left Google Brain after five years to serve as a co-founder and CTO of Adept, though like Vaswani she recently left for a stealth startup. Lukasz Kaiser left Google Brain after over seven years to join OpenAI in 2021. Sharan Narang, another contributor to the T5 paper, left Google Brain in 2022 after four years.

☆ Cramer thinks On Holding is one of the best growth stories out there and here's why
▼ + stars: | 2023-03-22 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCramer thinks On Holding is one of the best growth stories out there and here's whyMad Money host Jim Cramer talks to On Holding co-CEOs Martin Hoffman and Marc Maurer about the footwear company's growth and very bullish forecast for both the current quarter and the full year.

☆ Reid Hoffman, LinkedIn cofounder, said he talks to his friend Peter Thiel less to avoid political discussion and feuding over Donald Trump
▼ + stars: | 2023-03-22 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Reid Hoffman said he talks to his friend Peter Thiel less now on an episode of "On with Kara Swisher." Hoffman wants to avoid arguing with Thiel over former President Donald Trump. When Swisher asked Hoffman if Thiel hears him, Hoffman said, "I don't know." When they met as sophomores at Stanford in the mid-1990s, Hoffman heard Thiel was a "libertarian wacko," while Thiel was told Hoffman was a "pinko commie," Hoffman said on his podcast "Masters of Scale." Hoffman told Swisher he will "spend as much as I possibly can" to avoid another Trump presidency, saying it would be "destructive to our society."

☆ The 4-day workweek may not be the answer to workplace productivity and flexibility
▼ + stars: | 2023-03-21 | by ( Alexandra York | ) www.businessinsider.com time to read: +5 min

The four-day workweek was also discussed in a panel at the World Economic Forum earlier this year. "We have had a static, for many countries, five-day week for about a century," Grant said Thursday at his panel discussion called "The Four-Day Week." While a four-day workweek seems like an obvious answer, there are some key factors to consider before making the change, they agreed. But there are productivity benefits to giving employees more time to invest in themselves, which could come through the four-day workweek or other rescheduling methods. Flexibility through reorganizationWhether it be a four-day workweek or another method of schedule restructuring, a focus on both flexibility and productivity also benefits companies, van 't Noordende said.

☆ We're in the middle of the banking crisis, says Odeon's Dick Bove
▼ + stars: | 2023-03-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're in the middle of the banking crisis, says Odeon's Dick BoveDick Bove of Odeon Capital, Herb Greenberg of Empire Financial Research and Liz Hoffman, Semafor business and finance editor, join CNBC's Brian Sullivan and 'Last Call' to discuss the recent banking crisis and how it could impact the Fed's rate decision next week.

Greg Becker, who was the longtime CEO of Silicon Valley Bank, pictured last year. "Looks like Silicon Valley Bank is in some deep shit," Uncommon Capital general partner Jamie Quint tweeted. Startup founders scrambled to get their funds out of Silicon Valley Bank after its collapse. Andreessen Horowitz announced this week that it will continue banking with Silicon Valley Bank "for the foreseeable future" but is crafting a longer-term plan to diversify. Even so, he added, "I think we'd be supportive, as they stabilize, for them to be one of many partners that our founders bank with."

☆ SVB fallout: What this means for regional banks
▼ + stars: | 2023-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSVB fallout: What this means for regional banksLiz Hoffman, Semafor business and finance editor, joins 'Squawk Box' to discuss whether the Federal Reserve's intervention has stopped things from happening in the SVB case, the venture capital community's social media response to SVB's fallout, and more.

☆ AI might revolutionize how we borrow money. But is that a good thing?
▼ + stars: | 2023-03-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

But a recent report by Credit Suisse on the use cases for both ChatGPT and AI in finance caught my eye. AI models are only as good as the data they receive, which leaves them susceptible to bias, just like humans. A top-performing hedge fund is looking to team up with one of the hottest tech tools. Izzy Englander's Millennium Management told clients that it'll expect to get paid regardless of whether the hedge fund actually makes money for its investors, according to Bloomberg. The billionaire hedge fund manager believes all signs are pointing towards a recession.

☆ Inside the germy, sneeze-filled meeting between Morgan Stanley's CEO and the Saudi crown prince at the onset of COVID-19
▼ + stars: | 2023-03-08 | by ( Liz Hoffman | ) www.businessinsider.com time to read: +8 min

James Gorman, CEO of Morgan Stanley, met with the Saudi crown prince at the onset of the pandemic. The young royal kept sneezing during the meeting — and Gorman's fear of a deadly pathogen began to grow. He was in the royal palace in Riyadh, Saudi Arabia, seated to the right of the country's crown prince, Mohammed bin Salman. Given their recent experience with a deadly virus, Gorman took the caution of his Kuwaiti hosts as a sign that the West was underestimating the dangers of this one. And now, as Gorman chatted with the controversial 34-year-old crown prince about ways Saudi Arabia could diversify its economy and reduce its reliance on oil, the young royal kept sneezing.

☆ Inside story of a 'Crash Landing': How companies survived the pandemic
▼ + stars: | 2023-03-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInside story of a 'Crash Landing': How companies survived the pandemicLiz Hoffman, Semafor business and finance editor, joins 'Squawk Box' to discuss her new book 'Crash Landing' and how companies managed to survive the pandemic.

☆ NHL roundup: Ivan Barbashev nets pair as Knights edge Canadiens
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +4 min

[1/3] Mar 5, 2023; Las Vegas, Nevada, USA; Vegas Golden Knights center Ivan Barbashev (49) celebrates after scoring a goal against the Montreal Canadiens during the first period at T-Mobile Arena. The Lightning didn't register a second-period shot on goal, going to the third period with just four for the game. It marked the sixth time in Carolina franchise history that an opponent went an entire period without a shot on goal. Flyers 3, Red Wings 1Nicolas Deslauriers, Noah Cates and Scott Laughton each scored one goal to lift host Philadelphia past Detroit. Laughton scored an empty-net goal at 18:12 of the third period in his 500th career game to seal the victory.

☆ Reid Hoffman steps down from OpenAI board to avoid potential conflicts of interest
▼ + stars: | 2023-03-03 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

LinkedIn founder and Greylock partner Reid Hoffman is leaving the nonprofit board of OpenAI, he announced in a post on Friday. Hoffman cited a desire to invest in companies using OpenAI's software, which could cause a conflict of interest, he said in the post. To be clear, since the start, OpenAI and its board has been very careful to monitor and avoid any conflicts to date," Hoffman wrote. Earlier this week, it said it would charge companies using its AI about one-fifth of one cent to produce about 750 words. Previously, Tesla CEO Elon Musk left OpenAI's board in 2018.

☆ OpenAI's long-time backer Reid Hoffman leaves board
▼ + stars: | 2023-03-03 | by ( Jeffrey Dastin | ) www.reuters.com time to read: +1 min

March 3 (Reuters) - LinkedIn co-founder Reid Hoffman is leaving OpenAI's board to avoid conflicts of interest as he backs more artificial intelligence companies, he said in an online post. Hoffman also co-founded Inflection AI, one of the highest profile startups working on technology similar to OpenAI's. At the same time, Hoffman said he remained OpenAI's "ally" and wanted to work toward "elevating humanity" through technology including cross-industry partnerships if desired. Sam Altman, OpenAI's chief executive, said in a Twitter post responding to Hoffman that he looks forward "to much more collaboration in the future!" Hoffman remains on the board of Microsoft Corp (MSFT.O), itself a major partner to and investor in OpenAI.

☆ US labor market stays resilient; Q4 labor costs revised higher
▼ + stars: | 2023-03-02 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Those worries were further heightened by another report from the Labor Department on Thursday showing labor costs grew much faster than previously estimated in the fourth quarter. The labor market remains tight despite rising risks of a recession, contributing to keeping inflation elevated via solid wage gains. But even using alternative seasonal adjustments, economists say the labor market still is exhibiting tightness. A second report from the Labor Department showed unit labor costs - the price of labor per single unit of output - grew at a 3.2% annualized rate last quarter. Labor costs accelerated at a 6.9% rate in the third quarter, and notched hefty gains in the prior two quarters.

☆ The clock is ticking on economic damage, Citi says
▼ + stars: | 2023-03-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe clock is ticking on economic damage, Citi saysRobert Hoffman of Citi Private Bank says "the further the Fed has to go up from here, probably the more likely we are to see an actual U.S. recession in the second half of this year."

New York CNN —General Motors is cutting an unspecified number of white-collar jobs globally, part of its announced efforts to slash costs to remain competitive in the shift to electric vehicles. GM has 58,000 salaried US-based staff and 46,000 US unionized hourly workers, making up the majority of its 167,000 employees worldwide. GM has said it will invest $35 billion between now and 2025 in the shift to EVs. Both Ford (F) and GM (GM) face contract negotiations with the United Auto Workers union this fall on new labor deals for their US hourly workers. The union went on strike at GM (GM) for six weeks in 2019 before reaching a deal on its current contract.

☆ GM cutting hundreds of jobs as it looks to reduce costs
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: 1 min

Feb 28 (Reuters) - General Motors Co (GM.N) is cutting hundreds of executive-level and salaried jobs as it looks to cut costs, a person briefed on the matter told Reuters. The global reductions are in the "low hundreds," the person said. GM Chief People Officer Arden Hoffman said in a letter to employees on Tuesday the Detroit automaker is "committed to $2 billion in cost savings in the next two years, which we’ll find by reducing corporate expenses, overhead, and complexity in all our products." The cuts were reported earlier by the Detroit News. Reporting by David Shepardson in Washington and Kannaki Deka; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ General Motors cuts 500 salaried employees
▼ + stars: | 2023-02-28 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – General Motors is cutting hundreds of salaried positions as it follows other major companies, including competitors, in downsizing headcounts to preserve cash and boost profits. The cuts affect about 500 positions, according to a person familiar with the plans, which were announced internally Tuesday. The letter characterized the cuts, which follow performance evaluations, would impact a "small number of global executives and classified employees following our most recent performance calibration." The 500 job cuts make up less than 1% of GM's salaried workforce. Others such as Rivian Automotive also made salaried cuts, while Stellantis said it would idle a plant in Illinois.

☆ NHL roundup: William Nylander's OT goal lifts Leafs past Wild
▼ + stars: | 2023-02-25 | by ( ) www.reuters.com time to read: +4 min

Mandatory Credit: Dan Hamilton-USA TODAY SportsFebruary 25 - William Nylander scored at 1:05 of overtime and the Toronto Maple Leafs defeated the visiting Minnesota Wild 2-1 on Friday night. David Kampf also scored for the Maple Leafs, who have won two in a row. Brandon Duhaime scored for the Wild, who had won their fourth straight game 2-0 on Thursday against the Columbus Blue Jackets. Canadiens 5, Flyers 2Jesse Ylonen had one goal and one assist to lift Montreal past host Philadelphia. Compher and Nathan MacKinnon each had a goal and an assist for visiting Colorado in a win over Winnipeg.

☆ American Girl enters the 1990s with a new set of 'historical' dolls from the not-so-distant past
▼ + stars: | 2023-02-24 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

American Girl announced its first set of twin dolls since the company's founding in 1986. The sisters are historical characters from the year 1999, and their accessories are a blast from the past. American Girl has produced historical characters from each decade of the 20th century. The latest additions to the historical characters have people speculating what a doll from the 2000s will eventually look like. American Girl has had a historical character for each decade of the 20th century, and a few dolls from the 19th century.

☆ She's visited 63 countries by herself — and now coaches others on how to travel solo
▼ + stars: | 2023-02-23 | by ( Lucy Handley | Chris Dwyer | ) www.cnbc.com time to read: +7 min

She's visited 63 countries alone, she said, and now coaches others on how to go solo. She said people enjoy solo travel because they don't need to take anyone else's interests into account. Group toursGroup tours are another popular option for solo travelers. It has added more single-occupancy cabins with no single supplement, which are extra fees that solo travelers are sometimes charged to stay in a room by themselves. Solo travel tipsHoffman offered advice for people who are traveling alone.

☆ ChatGPT-maker OpenAI has hired tons of former Google and Meta employees, new data shows
▼ + stars: | 2023-02-22 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Last year, the company hired several Google staff to do "instrumental" work on ChatGPT. Data from LeadGenius and Punks & Pinstripes shows that a number of the company's 200-plus employees came from Alphabet, the parent company of Google and AI research lab DeepMind. OpenAI currently employs about 59 ex-Google employees and about 34 former Meta staff, according to the data. Data from Lead Genius and Punks & Pinstripes shows ex-Google staff make up a large portion of the company's staff. The Information previously reported that OpenAI hired several Google employees to do "instrumental" work on ChatGPT in the months leading up to its November launch.

☆ 'Unpredictable' election in Africa's largest economy is set to resonate around the world
▼ + stars: | 2023-02-22 | by ( Elliot Smith | ) www.cnbc.com time to read: +8 min

After 24 years of uninterrupted democracy since ending military dictatorship in 1999, Africa's most populous nation and largest economy is conducting its seventh election. Muhammadu Buhari, Nigeria's president, speaks during the U.S.-Africa Business Forum in New York. Leena Koni Hoffmann, associate fellow of the Africa Programme at Chatham House, told CNBC on Monday that the presidential election will be the "most unpredictable" since the transition to civilian rule. Alongside the Covid-19 pandemic and war in Ukraine, Koni Hoffmann noted "missed opportunities" and "self-inflicted crises" under Buhari's regime. Economists panned the decision, which Koni Hoffmann suggested rendered Nigeria and its neighbors more vulnerable to the damage of the pandemic.

☆ OpenAI cofounder Elon Musk said the non-profit he helped create is now focused on 'maximum-profit,' which is 'not what I intended at all'
▼ + stars: | 2023-02-17 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Elon Musk said OpenAI has become a "maximum-profit," closed-source firm "effectively controlled by Microsoft." The billionaire said this is not what he "intended" when he co-founded the company in 2015. Musk wrote in response: "OpenAI was created as an open source (which is why I named it "Open" AI), non-profit company to serve as a counterweight to Google, but now it has become a closed source, maximum-profit company effectively controlled by Microsoft. The company announced a partnership with Microsoft the same year and welcomed a $1 billion investment from the tech giant. Speaking at the 2023 World Government Summit in Dubai this week Musk said "we need to regulate AI Safety."

☆ Sam Altman is tech’s next household name — if we survive the killer robots
▼ + stars: | 2023-02-17 | by ( David Ingram | ) www.cnbc.com time to read: +11 min

Sam Altman, CEO of OpenAI, walks from lunch during the Allen & Company Sun Valley Conference on July 6, 2022, in Sun Valley, Idaho. Sam Altman may be tech's next household name, but many Americans probably haven't heard of him. To anyone outside San Francisco, Altman would probably seem like just another young tech CEO. That worldview flared up into controversy in 2017 when Altman wrote a blog post criticizing political correctness, saying tech entrepreneurs were leaving San Francisco over it. "I realized I felt more comfortable discussing controversial ideas in Beijing than in San Francisco," he wrote.

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