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☆ CloudKitchens, ghost restaurant news and updates
▼ + stars: | 2023-08-25 | by ( Meghan Morris | ) www.businessinsider.com time to read: +5 min

In 2021, Kalanick raised $850 million at a $15 billion valuation from backers including Microsoft. One, a physical ghost kitchen arm called CloudKitchens in the US, transforms mainly warehouses into private kitchen spaces that big companies and mom-and-pops alike can rent. 2021 fundraiseTravis Kalanick Theo Wargo/WireImageIn late 2021, CloudKitchens' parent company raised $850 million at a $15 billion valuation, Insider exclusively reported. Some entry-level sales employees have struggled at Otter, Insider reported. CloudKitchens US locationsA 2021 Insider analysis showed how CloudKitchens (and competitor Reef) snapped up properties across the US.

Persons: Travis, Kalanick, Travis Kalanick, Uber, –, fundraise Travis Kalanick Theo Wargo, CloudKitchens, John Curran, they're, Sawyer, Meghan Morris Organizations: Microsoft, Morning, Storage Systems, CSS, Investors, Uber, Financial, City Storage Systems, Wall Street, Amazon, CIA, Otter Locations: Los Angeles, Saudi, Miami

☆ Mark Cuban passed on an early Uber investment—his $250,000 would be worth $2.3 billion today: ‘Whoops’
▼ + stars: | 2023-08-19 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

"Just think: If I would've given him $250,000 on a [$10 million] valuation, it'd be billions," Cuban said. Specifically, given Uber's market capitalization of $90.1 billion as of Friday, Cuban's $250,000 would be worth $2.25 billion today. But, still," said Cuban, whose net worth is currently estimated at $5.1 billion. Cuban and Kalanick already had history at the time: Cuban invested $1.7 million in Kalanick's previous venture, a peer-to-peer networking startup called Red Swoosh, in 2005. However, Cuban said he didn't agree with Kalanick's $10 million valuation of the startup at the time: "I said, 'I'll do it at [a] $5 million valuation...' for Uber!"

Persons: Mark Cuban's, Uber, Travis Kalanick, Kevin Hart's Peacock, Hart, Cuban's, Kalanick, Cuban, Troy Carter, Carter, Mark Cuban, Warren Buffett Organizations: Uber, Cuban, SXSW, CNBC

☆ Inside Otter University: How Travis Kalanick's sales boot camp for young techies went off the rails
▼ + stars: | 2023-08-17 | by ( Meghan Morris | Darius Rafieyan | ) www.businessinsider.com time to read: +21 min

"It seemed like a cool, innovative new company," Lam said. Starting in early 2022, the company poured millions of dollars into an experimental sales boot camp called Otter University. She joined the company in 2020 as Otter's head of sales enablement and helped dream up the idea of a sales boot camp a year later. Two former OtterU employees said that Law and another Otter executive urged managers to join their teams for late-night drinks following team dinners. But the late nights and free-flowing alcohol struck some OtterU employees as inappropriate for the workplace, especially when managers had to deal with hungover teams the next day.

Persons: Brian Lam, messaged, Travis, Lam, Uber, It's, Kalanick, voraciously, they're, Otter, wasn't, salespeople, Cory Epstein, Phoebe Law, Law, people's, –, Kalanick's Uber, Otter's, Kate, Samul Beal, I'd, Beal, didn't, terminations, he'd, OtterU, I'm, grads, Salespeople, Guido Gabrielli, Keith Dunphy, Dunphy, Bram van Staalduinen, Phoebe Law's, Debra Glaser, Jen Zablotny, there's, Ordermark, Burger, Meghan, Darius Organizations: Texas, Otter, Storage Systems, Microsoft, Otter University, Law, Adobe, SAP, Houston, OtterU, hungover, NCR, Google, Brands, Houston Rockets Locations: Korean, Houston, Toronto, LA, Las Vegas, Miami, Seoul, South Korea, Houston ., OtterU, Otter, Canada

☆ Watch CNBC's full interview with Kayne Anderson Rudnick's Julie Biel and Annex Wealth's Brian Jacobsen
▼ + stars: | 2023-08-16 | 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 EmailWatch CNBC's full interview with Kayne Anderson Rudnick's Julie Biel and Annex Wealth's Brian JacobsenJulie Biel, portfolio manager at Kayne Anderson Rudnick, and Brian Jacobsen, Annex Wealth Management chief economist, join 'The Exchange' to discuss how current Fed rates compare to historic highs, the case for the Fed to raise rates further, and tips for finding durable competitive equities.

Persons: Kayne Anderson, Julie Biel, Brian Jacobsen Julie Biel, Brian Jacobsen Organizations: Wealth Management, Fed

☆ MrBeast sabotaged his own burger brand, his restaurant partner claims in a new lawsuit. The YouTube star recently sued the ghost kitchen operator, accusing it of making 'terrible quality' food.
▼ + stars: | 2023-08-07 | by ( Nancy Luna | ) www.businessinsider.com time to read: +5 min

Last week, YouTube star MrBeast sued the restaurant firm behind his namesake burger brand. YouTube star Jimmy Donaldson used his fame to "torpedo" the burger brand, the VDC suit says. The lawsuit comes a week after Beast Investments sued Virtual Dining Concepts alleging that VDC had ignored the MrBeast Burger Brand. MrBeast Burger debuted in 2020 and is sold in hundreds of restaurants seeking to use excess kitchen space to earn additional revenue. The reality is that the overwhelming majority of customers were highly satisfied, and the product was excellent," the VDC suit said.

Persons: MrBeast, Jimmy Donaldson, Donaldson, Burger, MrBeast Burger, Donaldson's, Travis Kalanick's CloudKitchens, Dorothy Calba Organizations: Concepts, YouTube, Service, Beast Investments, Dining, Twitter, Burger, Kitchen United, Euromonitor Locations: Wall, Silicon, New York, MrBeast, Florida, Washington

☆ MrBeast says 'ghost kitchen' partner is hurting his brand with 'terrible quality' burgers
▼ + stars: | 2023-08-01 | by ( Sindhu Sundar | Nancy Luna | ) www.businessinsider.com time to read: +3 min

The burgers' 'terrible quality' was the fault of a business partner, he alleged in a new lawsuit. His company alleged complaints raised to partner Virtual Dining Concepts “fell on deaf ears.”Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Reef, which sells MrBeast Burger, has logged multiple consumer complaints about uncooked burgers, Insider previously reported. Representatives for Virtual Dining Concepts did not respond to Insider's request for comment. Insider's Brittany Chang wrote last year about eating a "mediocre burger" at a physical MrBeast burger joint in New Jersey's American Dream mall.

Persons: MrBeast, Jimmy Donaldson, Donaldson's, Travis Kalanick's, Burger, Brittany Chang Organizations: Service, YouTube, Beast Investments Locations: Wall, Silicon, New

☆ ChatGPT showed it could pass a freshman year at Harvard and achieve a 3.34 GPA, student says
▼ + stars: | 2023-07-19 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

ChatGPT is capable of achieving respectable grades at Harvard, an experiment found. Per the experiment conducted by a Harvard student, the bot ended the year with a 3.34 GPA. A version of ChatGPT powered by OpenAI's GPT-4 is capable of passing a typical freshman year at Harvard, a recent experiment found. To conduct the experiment, Bodnick, a Harvard student herself, asked eight professors and teaching assistants to grade ChatGPT's essays generated in response to real Harvard prompts. Higher education is starting to bring in guidance and policies to manage the rise of generative AI.

Persons: OpenAI's GPT, Maya Bodnick, Matthew Yglesias's, OpenAI's ChatGPT, Wharton, Christian Terwiesch Organizations: Harvard, Ivy League College

☆ I've lived in a van full-time for 3 years. Here are the 5 biggest downsides no one talks about.
▼ + stars: | 2023-07-17 | by ( Alyshia Hull | ) www.businessinsider.com time to read: +7 min

This as-told-to essay is based on a conversation with Raychel Reimer, a van life content creator from Vancouver, Canada. At the time we were living out of our backpacks when I found van life videos on YouTube. Although we wouldn't trade van life for anything, here are five things you should know before trying it for yourself. Many think, people who participate in van life don't work, or we don't have real jobs. We love being a part of the van life community and we would not trade van life for the high cost of living in Vancouver.

Persons: Raychel Reimer, Nick, Raychel, Nicks, Nick We, we've, Nick's, that's, Nick It's, there's, it's, Alyshia Organizations: Service, YouTube, USA, Alyshia Hull, ahull Locations: Vancouver, Canada, Wall, Silicon, Cambodia, San Diego, It's

☆ OpenAI's mysterious new headquarters features nap rooms, a two-story library, and lounges for viewing both sunrise and sunset, according to planning documents
▼ + stars: | 2023-07-10 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +4 min

It's only fitting then that OpenAI should have a headquarters befitting its status as the vanguard of new AI revolution. But the company has kept details about its San Francisco headquarters a closely guarded secret. A reporter for Insider was even less successful, turned away by a security guard on an intercom who refused even to confirm or deny the existence of an OpenAI office at the location. But we may now have some hints about what it's like inside the offices of the world's most famous AI company, thanks to architectural plans and planning documents viewed by Insider. "It's an impressive space," said Peter Eisenbeiser, a city official who performed the final inspection of the 1960 Bryant Street space.

Persons: OpenAI, Peter Eisenbeiser, Travis Organizations: San Francisco's Mission, Microsoft, San, San Francisco, Florida Street, Bay, Eaton Hall, Architects, Boston Consulting Group Locations: San Francisco's, London, San Francisco, Florida, Seattle

☆ Djokovic faces Kyrgios-backed Thompson as Wimbledon organisers pray for sun
▼ + stars: | 2023-07-04 | by ( Aadi Nair | ) www.reuters.com time to read: +3 min

Defending champion Djokovic faces Thompson on Wednesday, and though the odds will be heavily stacked in the Serbian's favour, his 70th-ranked opponent has an ace up his sleeve, having consulted with Kyrgios ahead of the second-round clash. "Nick's beaten him a couple of times," Thompson told reporters on Monday. It's not every day you play Novak at Wimbledon. Third seed Daniil Medvedev and fifth seed Stefanos Tsitsipas will also complete their postponed first-round matches. Women's top-10 seeds Maria Sakkari, Petra Kvitova and Barbora Krejcikova will play their opening matches of the tournament.

Persons: Novak Djokovic, Nick Kyrgios, Jordan Thompson's, Djokovic, Thompson, Nick's, Nick doesn't, It's, Novak, Casper Ruud, Andrey Rublev, Stan Wawrinka, Daniil Medvedev, Stefanos, Iga Swiatek, Sara Sorribes Tormo, Victoria Azarenka, Caroline Garcia, Maria Sakkari, Petra Kvitova, Barbora, Aadi Nair, Toby Davis Organizations: Wimbledon, Djokovic, All England, Britain's Met, Thomson Locations: Tunisian, French, Bengaluru

☆ As the climate crisis intensifies, insurers will likely reshape where people live — leaving desperate homeowners in the lurch
▼ + stars: | 2023-07-02 | by ( Catherine Boudreau | Dan Latu | ) www.businessinsider.com time to read: +9 min

Nick's dilemma illustrates how the climate crisis is touching even the most mundane aspects of owning a home. That's been stagnant because of strict state regulations on what insurance companies can charge. She's one of many homeowners who for years have bought policies from companies that aren't approved by Florida's insurance regulators. Houses that would cost $1 million or more to rebuild are not covered by the state-backed Citizens Property Insurance, leaving them vulnerable to a disaster. Now he's not sure whether he — or anyone — will ever get the chance to live in his former neighborhood again.

Persons: —, Nick, hadn't, McKinney, Hurricane, Madelyn Rodriguez, Rodriguez, Ian, Rodriguez's townhome, Bob Stephens, Stephens, It's, he'd, he's Organizations: Service, California FAIR, Insurance, Institute, State Farm, Allstate, Insurance Information Institute, Property Insurance, Los Angeles Locations: Klamath, Forest, Oregon, McKinney, California, Florida, Fort Lauderdale , Florida, Broward County, Marathon , Florida, —, Marathon

☆ Three players handed season-long suspensions for gambling violations
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +3 min

The three players, who all bet on National Football League games during the 2022 season, may petition for reinstatement after the 2023 campaign, the league said in a statement. Shortly after the NFL announced the suspensions, the Colts waived defensive end Berry and cornerback Rodgers. "We have made the following roster moves as a consequence of the determination that these players violated the league’s gambling policy," said Colts General Manager Chris Ballard. "We will continue to emphasize to our players the importance of understanding and adhering to league rules and policies." Berry broke into the NFL as an undrafted free agent in 2020 and played eight games over parts of two seasons.

Persons: Isaiah Rodgers, Bob DeChiara, Rashod Berry, Demetrius Taylor, Berry, Rodgers, Chris Ballard, Nicholas Petit, Frere, Nick, Petit, Taylor, Frank Pingue, Ken Ferris, Toby Davis Organizations: Indianapolis Colts, New England Patriots, Gillette, NFL, National Football League, Colts, Tennessee Titans, Titans, ESPN, Detroit, Lions, Thomson Locations: Foxborough , Massachusetts, USA, Tennessee, Toronto

☆ E-commerce fulfillment startup ShipBob snags new chief supply chain officer from Amazon
▼ + stars: | 2023-06-27 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +4 min

ShipBob is an e-commerce fulfillment startup that picks and packs orders for online sellers. The company has hired Amazon alum, Melissa Nick, as Its first-ever chief supply chain officer. Nick told Insider that Amazon executives join logistics startups because they like to build. ShipBob, an e-commerce fulfillment company backed by Bain Capital Ventures, has nicked its first-ever chief supply chain officer from the prevailing force in e-commerce logistics. Amazon offers one of the fastest fulfillment services out there, but Fulfillment by Amazon is notoriously rigid.

Persons: Melissa Nick, Nick, Shopify, ShipBob, Dhruv Saxena, Divey Gulati Organizations: Amazon, Bain Capital Ventures, North, ShipBob, UPS, FedEx Locations: Chicago, Nashville , Tennessee, Los Angeles, United States, Canada, United Kingdom, Europe, Australia

☆ George Santos' first-ever bill co-sponsor is Paul Gosar, a GOP congressman who has associated with white nationalists
▼ + stars: | 2023-06-27 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +3 min

Rep. George Santos has struggled to attract a single co-sponsor for his bills since taking office. But he finally got his first one last week: far-right Rep. Paul Gosar of Arizona. Gosar co-sponsored Santos' bill targeting Confucius Institutes on college campuses. But last week, Santos finally found one other Republican member of Congress who would endorse one of his bills: Rep. Paul Gosar of Arizona. He has also cultivated ties with Nick Fuentes, a prominent white nationalist, including speaking at Fuentes' America First Political Action Conference in 2022.

Persons: George Santos, Paul Gosar, Gosar, Santos, —, he's, Kevin McCarthy, Alexandria Ocasio, Cortez, McCarthy, Nick Fuentes, Fuentes, Nick's Organizations: Confucius Institutes, Service, Republican Rep, George Santos of New, Republicans, Democratic Rep, Political, Conference, POLITICO, Biden Locations: Paul Gosar of Arizona, George Santos of, Santos, Arizona, Alexandria, Cortez of New York

☆ 10 Things in Tech: Apple Vision Pro, Big Tech's big AI salaries, and Marc Andreessen's plan to save the world
▼ + stars: | 2023-06-07 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

Apple Vision Pro. Apple's Vision Pro looks amazing, but why buy it? The Vision Pro also comes with a host of caveats beyond the price tag, such as a battery life of just two hours. Read more about the Apple Vision Pro's limits here. He said AI companies should be able to build fast and aggressively — and without regulation.

Persons: Nathan Rennolds, let's, Tony Fadell, Apple, Salesforce's Marc Benioff, Justin Sullivan, Marc Benioff, Marc Andreessen, Travis Kalanick's, Adam Beswick, he's, grads, Z, Leigh Thompson, Jack Sommers Organizations: Apple Vision, Apple, Companies, Meta, Sony, Getty, Salesforce, Amazon, Oracle, Big Tech, CloudKitchens, Stanford, UCLA, USC, Sequoia Capital, Kellogg School of Management, Northwestern University Locations: London

Mobile ordering and delivery have boosted Starbucks' bottom line and have become an incremental and growing part of the business. Starbucks would not share specifics on the size of its delivery business but has previously said the segment has seen a 20% year-over-year growth. CloudKitchens, which rents small, private kitchen bays that share a reception, offers one solution to delivery growth. Starbucks plans to open the San Francisco ghost kitchen on August 22 and operate it from 7am to 6pm, per a March filing with the city. The ghost kitchen will not sell alcohol.

Persons: Uber, —, Travis Kalanick, Laxman Narasimhan, Travis Kalanick Steve Jennings, CloudKitchens, Pat Grismer, Brady Brewer, Gloria Dawson, Darius Rafieyan, Meghan Morris Organizations: Starbucks, Service, CloudKitchens, Mobile, Buffalo Wild Wings, Getty, TechCrunch, Food Locations: Francisco, San Francisco, China, New York

☆ How to help your kids grieve, from a mom whose son was still a baby when her husband died
▼ + stars: | 2023-05-31 | by ( Renée Onque | ) www.cnbc.com time to read: +1 min

Amanda Kloots, co-host of the CBS show, "The Talk," lost her husband to Covid-19 in 2020. "I just decided to be honest with him, have that conversation and make sure that he's able to ask me anything," Kloots tells CNBC Make It. To honor Nick's memory and help Elvis grieve, Kloots plays Nick's favorite songs around the house and tells Elvis stories about his dad. "From day one, Elvis and I have never put Nick's memory to rest. I just make sure his spirit is alive in this house," Kloots says.

Persons: Amanda Kloots, Covid, Elvis, Nick, Kloots Organizations: CBS, CNBC

☆ A former Googler who sued for pregnancy discrimination says tech giants should be held accountable, especially as pregnant workers get laid off
▼ + stars: | 2023-05-18 | by ( Thomas Maxwell | ) www.businessinsider.com time to read: +5 min

Former Googler Chelsey Glasson acknowledges that the recent tech downturn could stifle dissent from people who may face pregnancy discrimination. She's speaking about her experiences in a book she is publishing called "Black Box: A Pregnancy Discrimination Memoir." In addition, 1 in 5 mothers said they experienced pregnancy discrimination in the workplace. One change that could help the industry would be some means of making funding available for people suing over pregnancy discrimination, she added. "Black Box: A Pregnancy Discrimination Memoir" will be published on August 29.

☆ I'm very focused on credit quality in bank earnings: Kayne Anderson and Rudnick's Biel
▼ + stars: | 2023-04-17 | 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 EmailI'm very focused on credit quality in bank earnings: Kayne Anderson and Rudnick's BielJulie Biel, portfolio manager at Kayne Anderson Rudnick, joins 'Squawk Box' to discuss Biel's thoughts on the bank earnings results, specific themes Biel may be looking for in these earnings, and more.

☆ Meet Blake Resnick, a 23-year-old college dropout who went on to win a Peter Thiel-backed fellowship, supplies drones to Ukraine, and is now worth over $100 million
▼ + stars: | 2023-04-13 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Blake Resnick, the founder and CEO of Brinc Drones, is now worth $100 million, per Bloomberg. After the shooting, he cold-called the lieutenant in charge of the Las Vegas SWAT team to ask about technology that could've helped the police identify and stop an active shooter. Born in Las Vegas to a doctor and a special education teacher, Resnick's adventures with science began early on in his childhood. At 14, he built a nuclear fusion reaction in his parent's garage in Las Vegas, according to a bio on his website. Perhaps unsurprisingly, Resnick features among the Forbes 30 under 30 list of achievers in the age group in 2021 and 2022.

☆ Brands with durability perform in times of good and bad, says Kayne Anderson Rudnick's Julie Biel
▼ + stars: | 2023-04-10 | 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 EmailBrands with durability perform in times of good and bad, says Kayne Anderson Rudnick's Julie BielJulie Biel, portfolio manager at Kayne Anderson Rudnick, joins 'The Exchange' to discuss earnings variability in energy markets, investment opportunities in financial tech solutions, and health care applications for AI.

☆ Inside Nike: Sources share claims of sexism, cheating, abuse at the world's wokest brand
▼ + stars: | 2023-04-05 | by ( Joshua Hunt | ) www.businessinsider.com time to read: +51 min

The conservative blowback came as no surprise to Parker, who told Nike's board of directors to expect some short-term backlash. In late 2014, the BBC sent a film crew to Portland to interview several former Oregon Project employees. "He would be at the side of the track calling out runners' splits but wouldn't call Kara's out," Adam Goucher told me. When people asked why she left the Oregon Project, she said it was a "personal decision." "I don't think it has anything to do with who the CEO is," Goucher told me.

☆ No, 'Stranger Things' star Noah Schnapp didn't open his own restaurant. It's the latest 'virtual brand' offering from IHOP.
▼ + stars: | 2023-03-16 | by ( Nancy Luna | ) www.businessinsider.com time to read: +5 min

Thousands of virtual brands continue to flood delivery apps like Uber Eats, DoorDash, and Grubhub. IHOP is launching a third delivery-only brand – a chicken menu by a "Stranger Things" star. Partnering with Noah Schnapp and Nextbite were a seamless fit to meet the consumer target for our newest Virtual Brand." Stranger Things star Noah Schnapp helped create a virtual chicken menu for IHOP. Nextbite's other celebrity-backed virtual brands include Packed Bowls by Wiz Khalifa and 'Wichcraft sandwiches by Tom Colicchio.

☆ It's very unclear how this bank fallout is going to reverberate: Kayne Anderson Rudnick's Biel
▼ + stars: | 2023-03-16 | 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 EmailIt's very unclear how this bank fallout is going to reverberate: Kayne Anderson Rudnick's BielJulie Biel, portfolio manager at Kayne Anderson Rudnick, joins 'Squawk Box' to discuss her thoughts on equity markets, where she feels most comfortable in stocks, and more.

☆ White House says 'Tucker Carlson is not credible' after the Fox host claimed January 6 was 'mostly peaceful chaos'
▼ + stars: | 2023-03-08 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

The White House lit into Tucker Carlson after he made misleading claims about January 6. The response shows the nerve Carlson has struck with his selectively edited footage of the riot. "Tucker Carlson is not credible," a White House spokesman said of the host. Bates then went after Carlson by name, poking fun at how the network has portrayed Carlson in past lawsuits. Outside of the White House, Carlson's comments and use of footage his show exclusively obtained from House Speaker Kevin McCarthy has set off a torrent of criticism in Washington.

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