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With its recent Starship mission, SpaceX is poised to cut launch costs 10-fold, said an expertThe firm flew its flagship mega-rocket to space without exploding on Thursday for the first time. AdvertisementSpaceX's Starship launch on Thursday didn't only look cool. SpaceX has already shaved launch costs downStarship-Super Heavy is the biggest launch system ever developed. AdvertisementA picture shows Starship fully stacked on its launchpad. "Lowering launch costs has always been the first step to unlocking broader, deeper sources of value from space," he said.
Persons: , Elon, Brendan Rosseau, Abhi Tripathi, Elon Musk, Starship's, George Nield, Harvard's Rosseau, Tripathi Organizations: SpaceX, Service, Harvard Business School, Super, Mission, University of California, Space Sciences Laboratory, Space Shuttle, Space Transportation
Tracy Britt Cool has been busy acquiring midsized companies — ones too small for her old boss Warren Buffett at Berkshire Hathaway — and now she wants to build a close-knit community for these smaller businesses. Unlike the Berkshire CEO's laissez-faire approach to managing his companies, however, Cool is more hands-on, guiding company leaders through hiring and developing strategies. "We want to be the trusted home for midsized companies," Cool said in an interview. Buffett influence Cool famously got a job working for Buffett as his financial assistant by sending the "Oracle of Omaha" a letter after graduating Harvard Business School. Cool declined to comment on her relationship with Buffett or her experience at Berkshire.
Persons: Tracy Britt Cool, Warren Buffett, Berkshire Hathaway —, Buffett, Charlotte, Kanbrick, Brian Humphrey, Cool, Kanbrick hasn't, Benjamin Moore, it's Organizations: Berkshire Hathaway, Elite, Cool, Harvard Business School, Oriental Trading Company, Systems Locations: Berkshire, Nashville, Kansas, Omaha, Pennsylvania
But often, bosses look for something more subtle, says Harvard Business School executive fellow Bill George. In other words, CEOs and other leaders may want to see you guiding and inspiring the rest of your team. Great employees — the ones managers tend to see as worth promoting — don't just boss their co-workers around. They excel at building trust with the people around them, which requires a certain amount of self-awareness to achieve, George says. "Many people do not know who they are," George wrote in his book, "True North: Emerging Leader Edition," which published in 2022.
Persons: Bill George, George, Organizations: Harvard Business School
Many gig drivers lured by the flexibility of gig work say the flexibility of their job is often limited. AdvertisementMany drivers for Uber, Lyft, and other rideshare and delivery apps say they value the flexibility of gig work over any other component. AdvertisementMany part-time drivers have previously told BI they value gig driving for the ease with which they could supplement their core income. Some drivers told her they would work 16-hour overnight shifts on weekends to find higher-paying, better-tipped rides. "Uber and its peers appeal to workers with oodles of promises that workers can hold the power to control their work hours.
Persons: , Uber, Sergio Avedian, Guy, Avedian, Lyft, Uber hasn't, Lindsey Cameron, Cameron, you've, Laura Katsnelson, Felix Oberholzer, Gee, Katsnelson, Katie Wells, Wells Organizations: Uber, Service, Business, Wharton School, Unit, Harvard Business School, Workers, Georgetown University Locations: Jacksonville , Florida, Los Angeles
Huang, who oversees 50 direct reports, said that "by definition," CEOs should have the most direct reports of anyone at a company. And taking on more direct reports could help CEOs level the playing field, too. And while Huang manages more people than other big-name CEOs (Amazon CEO Andy Jassy has 16 direct reports), Nvidia has close to 30,000 employees, according to a company report from 2023. While Huang might be an outlier (and overachiever) as a manager, the number of direct reports CEOs are taking on is on the rise. CEOs' direct reports doubled from five in the mid-1980s to close to 10 in the mid-2000s, according to the Harvard Business Review.
Persons: , Jensen Huang, doesn't, . Huang, Huang, chipmaker, Andy Jassy, Hal Gregersen Organizations: Service, Stanford's Graduate School of Business, Business, Nvidia, Harvard Business, MIT Leadership Center Locations: .
New York CNN —For decades, not having a college degree has often been a barrier for workers seeking a higher-level, better-paying job. That means the lack of college degrees can’t be ignored, since Blacks and Hispanics are least likely to have a bachelor’s degree. “[D]espite the limited progress to date, our analysis shows that, for those who embrace it, skills-based hiring … yields tangible, measurable value. Skills-based hiring boosts retention among non-degreed workers hired into roles that formerly asked for degrees,” they said. The tool is aimed at lower-wage workers without college degrees.
Persons: Joe Biden, Ken Frazier, , George Floyd’s, Frazier, Debbie Dyson, Keith Wardrip Organizations: New, New York CNN, Census Bureau, , Merck, Blacks, MIT, Accenture, Yum ! Brands, Harvard Business School, Glass Institute, Directionally, Federal, Occupational Mobility, Philadelphia Fed, Federal Reserve Bank of Philadelphia Locations: New York, America, workforces, Philadelphia, Cleveland, Cincinnati
They were gathered for the inaugural summit of The Juggernaut, a digital South Asian news startup that launched in 2019. The Juggernaut spokesperson told BI that "multiple employees have equity in the company," but BI was unable to identify any such employees. "Twenty years ago, you might've struggled to mention a South Asian actor that you've seen in a movie," he said. As of January, the site had about 10,500 subscribers, Sur told investors in an email viewed by BI. Some feel that the publication has strayed from its mission of delivering "untold, smart South Asian stories and news you won't find anywhere else."
Persons: , Richa Moorjani, Manish Chandra, Anish Melwani, Sadiq Khan, Amitav Ghosh, Roy Rochlin, Jay Bhattacharya, didn't, Sur, Padma Lakshmi, Moorjani, Mira Nair, Oprah Winfrey, she'd, who've, Josh Benson, Bhattacharya, might've, you've, Dev Patel, Priyanka Chopra, Black millennials, Bhattacharya's, Adam Hansmann, Kevin Lin, Albert Ni, Charles Hudson, Steve Jennings, Sur's, Kyle Stanford, Axios, Stanford, Snigdha, Winfrey, MICHAEL TRAN, hadn't, wouldn't, Fariha Róisín, Meghna Rao, Róisín, Rao, Rao didn't, they'd, she's, it's, Hudson, who'd, Reetu Gupta, Aditi Shah, Sean Gupta, Steven Simione, would've, we're, Brian Morrissey, Morrissey, cofounders, Narendra Modi's, Sneha Mehta Organizations: Spring Studios, Netflix, Business, New Yorker, Harvard Business School, Guardian, American, Old Town Media, Athletic, BI, Indian, Yale, McKinsey, Precursor Ventures, Forbes, Getty, TechCrunch, YouTube's Sustainability, YouTube, Paramount Pictures Studios, Immigration Services, Stanford, Digiday, Gannett Locations: York City, chai, Jean's, hasn't, Sur, New York City, South, Asian, India, Madhya Pradesh, Queens, Sur texted, Indian American, AFP, Róisín, Los Angeles , California, South Asia, Silicon
A general view of the Baker Library/Bloomberg Center on February 17, 2024, at Harvard Business School in Allston, MA. A Harvard Business School graduate tricked his fellow alumni and associates into investing at least $2.9 million in a Ponzi scheme he ran, New York Attorney General Letitia James said Thursday. Artamonov allegedly lured at least 29 investors into the scheme, most of whom he met through his connections to the elite college, the attorney general said. "Vladimir Artamonov used his alumnus status from Harvard Business School to prey on his classmates and others while seeming legitimate and dependable. Harvard Business School did not immediately respond to a request for comment.
Persons: Letitia James, James, Vladimir Artamonov, Berkshire Hathaway, Artamonov, Artamonov's, fraudsters Organizations: Baker Library, Bloomberg Center, Harvard Business School, New York, Finance Locations: Allston , MA, Berkshire, Manhattan
Craft your questions to hit these three notesNearly any question can be remade into a deep question. The key is understanding three characteristics: A deep question asks about someone's values, beliefs, judgments, or experiences — rather than just facts. One forthcoming study found a simple approach to generating deep questions: Before speaking, imagine you're talking to a close friend. A deep question asks people to talk about how they feel. But studies show people are nearly always happy to have been asked, and to have answered, a deep question.
Persons: you've, You've, , Nicholas Epley, Epley, Michael Yeomans, Charles Duhigg Organizations: University of Chicago, Harvard, Yorker, The New York Times, Yale, Harvard Business School, CNBC
That's according to a new report from career-site Indeed analyzing educational requirements in US job postings since January 2019. As employers shift from formal educational requirements to skills-first hiring, job seekers might want to think about their skills. Even with a shift away from college degree requirements, there could be assumed credentials and levels of education, per the new report. "There's a lot of sectors where it's really common for jobs to not include any educational requirements whatsoever," Stahle said. Controlling for occupational mix, the percentage of job postings that require a college degree has only fallen by 3.6 percent over that period."
Persons: , Cory Stahle, Stahle, haven't, it's, there's, Raman, we've, they're Organizations: Service, Business, Labor, Delta Air Lines, IBM, BI, Burning Glass Institute, Harvard Business School, LinkedIn, Employers
Employers are increasingly saying you don't need a college degree to get hired, but secretly, you still kind of do. During the same period, the share of job postings asking for a college degree or higher fell to 17.8% from 20.4%. In 2023, The New York Times' editorial board applauded various efforts in the public and private sectors to ax degree requirements for jobs. Having inflated degree requirements perpetuates the cycle of inequities in the workforce." A move toward skills-based hiring is a good thing socially, economically, and practically.
Persons: George Floyd's, didn't, It's, Matt Sigelman, Cory Stahle, would've, you've Organizations: aren't, The New York Times, Carlton, Harvard Business School, Glass, Apple, Walmart, ExxonMobil, Glass Institute, Employers
New York CNN —The co-chair of a newly formed task force fighting antisemitism at Harvard University has abruptly stepped down after barely a month at the helm. The Harvard Jewish Alumni Alliance, which the Globe said is leading the campaign, did not immediately respond to a request for comment. When Garber announced the presidential task force on antisemitism, he tapped Sadun and Harvard professor Derek Penslar to co-chair it. Penslar remains on the presidential task force, after receiving significant internal and external support. The rest of the antisemitism task force is being filled out by various students, professors and administrators at Harvard.
Persons: Raffaella Sadun, Alan Garber, Sadun, , ” Garber, , Bill Ackman, Garber, David Wolpe, Claudine Gay’s, Jared Ellias, tapped Sadun, Derek Penslar, Larry Summers, Roni Brunn Organizations: New, New York CNN, Harvard University, Harvard Business School, Ivy League, CNN, Harvard, Harvard Crimson, Harvard’s Divinity School, Boston Globe, Harvard Jewish Alumni Alliance, Globe, Department of Education, Jewish, Harvard Jewish, Alliance, Sunday . Locations: New York
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. When it comes to conversations with new or new-ish people, there is one research-backed hack for "almost any time where you have that little bit of dread or a little anxiety" talking to someone, Duhigg told Business Insider. Brooks told Business Insider that her research is still ongoing. "If there's an uncomfortable silence, you know exactly what you're going to bring up."
Persons: , Charles Duhigg, Duhigg, Alison Wood Brooks, Brooks, I'm Organizations: Service, Business, Harvard Business School, LSE, Imperial, Wharton, The New York Times
For years, the Duke professor Dan Ariely was at the top of his game. Three professors behind the blog Data Colada reported evidence of fake data in a 2012 paper Ariely coauthored on honesty pledges. "When people do take a risk and they succeed, everybody enjoys it," Ariely told BI. In 2010, Ariely told NPR that two dentists examining the same teeth for cavities would agree only 50% of the time, citing research from Delta Dental. While the board originally said it would "unanimously stand in support of President Gay," Gay stepped down in early January in response to the backlash.
Persons: Dan Ariely, Dan Ariely's, Jesse L, Martin, Ariely, Duke, sniffed, they'd, James B, , they're, Francesca Gino, Ariely's, Marc Tessier Lavigne, Claudine Gay, Prince Andrew ., he's, Brad Swain, He's, Gordon Pennycook, Sean Gallup, Nick Brown, who's, Michael Sanders, who'd, Sanders, Gino, Aimee Drolet Rossi, Rossi, she'd, Amir, wasn't, hasn't, I've, haven't, isn't, would've, Claudine Gay's, Andrew Lichtenstein, Bill Ackman, Gay, Harvard, doesn't, Gay should've, Brown, Cornell Watson, who've, wouldn't Organizations: Google, NBC, UCLA, Duke, Business, Harvard Business, TED, Irrational, Cornell, Getty, Burda, King's College London, New York Times, NPR, Delta Dental, Higher Education, Hartford, Ariely, Harvard, University, Universities, BI, Colorado's, King's College Locations: Buckingham Palace, British, Hartford, Gaza, Montana
The more than 750 study participants were given real tasks, including "creative product innovation" assignments. The study found that people using AI faired much better than those working without it when it came to creative product innovation tasks. About 90% of the participants improved their performance when using AI for any task involving ideation and content creation. People's problem-solving skills far outweigh the help offered by AI, Candelon said. They will get replaced by humans using AI," he told the outlet.
Persons: , François Candelon, Candelon, didn't Organizations: Service, Gemini, Boston Consulting, MIT, Wharton, Harvard Business School, University of Warwick
A better way to handle layoffs
  + stars: | 2024-02-20 | by ( Aki Ito | ) www.businessinsider.com   time to read: +11 min
Out of everything that happens in the workplace, nothing underscores the harshly transactional nature of employment more than the way companies terminate their employees. To be sure, there are times when layoffs are necessary for the health — and even survival — of a company. In other words, the pitiless and coldhearted way businesses handle dismissals isn't just destructive to those who get dismissed. Is there a better way to handle layoffs? For starters, Herd says, managers should look the employees they're dismissing in the eye, rather than reading from a script.
Persons: TikTok, Brittany Pietsch, she'd, isn't, Pietsch, they're, you've, — they're, Slack, it's, Sandra Sucher, Sucher, pare, Ashley Herd, Herd, , Reagan, Aki Ito Organizations: Mafia, Harvard Business School, Nokia, Business
But as data emerges on degreeless hiring, there are signs that some of these efforts may be falling short. It's based on limited data and doesn't consider alternative pathways that people without degrees use to join organizations, such as through apprenticeships and internships. But it's still a snapshot look at how some of the top employers in the U.S. are doing in their efforts to hire more workers based on skills versus degree attainment. Rather, it implies managers may be reticent to hire people without degrees, absent specific policies to assess these workers' skills. Companies that have been successful with skill-based hiring also articulate clearly the skills they require for a job, even before posting it.
Persons: it's, Matt Sigelman, What's, Sigelman, Schultz, Joseph Fuller, Fuller, Tyson, Lockheed Martin, Kroger, Stellantis, Backsliders, Meijer, Delta Organizations: Burning Glass Institute, Harvard Business School, Glass Institute, Workers, American, Foundation, Walmart, Apple, GM, Koch Industries, General Motors, Target, Tyson Foods, ExxonMobil, Yelp, Bank of America, Oracle, Companies, Lockheed, Stellantis, CNBC, Amazon, Nike, Delta, Uber, HSBC, Novartis, Delta Air Lines, US Foods Locations: U.S, Meijer
AdvertisementBank of America, Amazon, and Lockheed Martin are among the large companies that promised they'd drop college degree requirements in their job listings. But their hiring practices are still the same, according to a new study from Harvard Business School and the Burning Glass Institute: they're still hiring college grads. "While we can't verify the methodology of this survey based on the information shared, the conclusions aren't accurate," an Amazon spokesperson told BI. AdvertisementIn 2018, Lockheed Martin said it announced a five-year initiative to create 8,000 apprenticeships, which it completed ahead of schedule. "We invest in the right outreach efforts to hire the best talent to reflect our community," a Lockheed Martin spokesperson told BI.
Persons: , Lockheed Martin, they'd, Lockheed Martin —, Uber, didn't, don’t, haven't Organizations: Service, Bank of America, Lockheed, Harvard Business School, Glass, Companies, Walmart, Apple, Target, Nike, Uber, Amazon Locations: Delta
Overlaid on that picture is the company name, Grier Shoe Shop, and its address — which is part of an area known as Black Wall Street. With these ventures, she's part of a growing class of Black entrepreneurs tapping into Tulsa's history for inspiration and resources for support. He also won a grant from a Black Wall Street organization. The Black Wall Street Mural in the Greenwood district of Tulsa, Oklahoma, on Friday, June 19, 2020. Greenwood, known as Black Wall Street, was one of the most prosperous African-American enclaves in the U.S. before it was burned down by a white mob in 1921.
Persons: Venita Cooper, Parnia Mazhar, Grier, Silhouette, They've, Cooper, Dominick Ard'is, George Floyd, Ashli Sims, she's, Sims, North Martin Luther King, Edna Martinson, It's, Martinson, LaTanya White, he's, Adesanya, Grant Warner, James Lowry, Lowry, who's, Greenwood, Christopher Creese Organizations: Silhouette, NBC News, Tulsa, Build, Art, NBC, North Martin Luther King Jr, Ku Klux, House, Art Basel, Southwest, Black, Stanford, National Bureau of Economic Research, Creative, CNBC, Harvard Business School, Center for Black Entrepreneurship, Black Economic Alliance Foundation, Boston Consulting, Bloomberg, Getty Locations: Greenwood, Tulsa , Oklahoma, TULSA, Tulsa, North, Miami, South, Austin, U.S, PalmPlug, Seattle, America
Executives at the online furniture retailer Wayfair told its staff in January that remote workers were likelier to be hit in its latest round of job cuts. Add in long-term trends, like the decline in loyalty between employers and employees , and it's no wonder remote workers feel anxious about cuts. “It’s not too surprising,” Peter Cappelli, a management professor at the Wharton School who has never been a big fan of remote work, said. “That is something remote workers should be thinking about as they’re engaging with supervisors,” she said. Remote workers aren’t doomed to the unemployment line, but they may want to try a little extra to get noticed.
Persons: Wayfair, , Dell, Goldman Sachs, “ It’s, ” Peter Cappelli, , Nick Bloom, ” Bloom, Emily Dickens, ” Prithwiraj Choudhury, ” Joseph Fuller, pang, Emily Stewart Organizations: IBM, Reuters, Google, Wharton School, Stanford, Society for Human Resource Management, Harvard Business School, Employers, Workers, “ Workers, Staff, Business
New York CNN —Angela Chao, CEO of the shipping company the Foremost Group and sister of former US cabinet secretary Elaine Chao, was killed in a car crash in Texas on Sunday, according to a spokesperson for her company. Angela Chao, 50, had been CEO of the shipping company since 2018, assuming the role from her father, James S.C. Chao, who had founded it in 1964. “Angela Chao was a formidable executive and shipping industry leader, as well as a proud and loving daughter, sister, aunt, wife and mother. She was also a precocious youngster, learning about the shipping industry at an early age,” said the companies’ statement. Elaine Chao is the wife of Senate Minority Leader Mitch McConnell.
Persons: Angela Chao, Elaine Chao, James S.C, Chao, Michael Lee, Smith Barney, Morgan Stanley, “ Angela Chao, , TradeWinds, “ Angela, Presisdent George W, Donald Trump, Mitch McConnell Organizations: New, New York CNN, Foremost, Harvard, American Bureau of Shipping Council, Harvard Business School’s, Dean’s Advisors, Metropolitan Opera, Chairman’s, Metropolitan Museum of Art, Museum of Contemporary Art, Shanghai Mulan Education, Asian American Foundation, Asian Americans, Pacific Islanders Locations: New York, Texas, Austin , Texas, Los Angeles, Shanghai
As sweeping rounds of layoffs rock the tech, media and finance industries in 2024, some video game fans are thinking about former Nintendo CEO Satoru Iwata. Iwata ran the Kyoto, Japan-based video game company from 2002 until his death in 2015. To avoid layoffs, Iwata took a 50% pay cut to help pay for employee salaries, saying a fully-staffed Nintendo would have a better chance of rebounding. Iwata had faith in his talentFor Iwata, taking a pay cut over layoffs centered around his employees' ability to bounce back, Verma says. "Nintendo [needed] to see through the changes that necessitated launching the Nintendo Switch, which has been massively profitable for the company," says Verma.
Persons: Satoru Iwata, Iwata, Rohan Verma, , it's, Verma, could've, Sandra Sucher, Sucher Organizations: Nintendo, Riot Games, Microsoft, Activision Blizzard, Stanford University, Harvard Business, CNBC Locations: Kyoto, Japan, , U.S
Former Salesforce exec Richard Socher spoke about AI models on a Harvard Business Review podcast. He said one way to improve AI significantly is to make it program responses — not just predict them. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . On a Harvard Business Review podcast last week, Socher said we can level up large language models by forcing them to respond to certain prompts in code. This story is available exclusively to Business Insider subscribers.
Persons: Richard Socher, , we've, Socher Organizations: Harvard Business, Service, Business
When it comes to AI in hiring, there's a disconnect between how employers and job seekers view the technology. "Helping candidates understand where in the process their application will interact with AI tools is really useful." In Indeed's AI survey, 60% of job seekers expressed concern about bias in the data that trains employers' AI hiring systems. Avoid the resume black holeMany job seekers perceive AI tools as hyper-focused on keywords, ignoring a candidate's full story. Don't sacrifice the humanity of hiringA looming concern among job seekers is that using AI in hiring will replace the personal touch.
Persons: Donal McMahon, Hannah Calhoon, Alan Walker, haven't, Calhoon, McMahon, , Walker, we're Organizations: Pew Research Center, Data, Fortune, Harvard Business School, ATS, Insider Studios
President Joe Biden's reelection campaign launched an official TikTok account Sunday evening. The account is noteworthy because TikTok is currently banned on most U.S. government-issued devices. The TikTok account, with the handle "@bidenhq," debuted Sunday during Lunar New Year celebrations in China and Super Bowl 58 in the U.S. Biden campaign advisors told NBC News the TikTok account is part of an effort to meet voters where they are. The Biden White House has carried on a love-hate relationship with TikTok since Biden took office.
Persons: Joe Biden, John F, Joe Biden's, TikTok, Biden, Shou Zi Chew, Jeffrey Yass, ratcheted Organizations: Kennedy International Airport, Super, China, Harvard Business School, TikTok's, Susquehanna International Group, Billionaire, U.S, NBC, Pew Research, Biden White Locations: New York City, U.S, China
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