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☆ Big Tech is pursuing 'the year of efficiency.' It could get supercharged by AI.
  + stars: | 2023-04-30 | by ( Matt Turner | ) www.businessinsider.com   time to read: +5 min
On the agenda today:But first: Why Big tech's new focus on efficiency could have far-reaching impacts. Tech jobs aren't coming backTech giants have been slashing jobs. Companies from Meta to Salesforce have cut jobs in the recent months in the pursuit of efficiency and profit margins. Also read:Whistleblower docs: Jane RobertsSupreme Court Justice Chief Justice John Roberts and his wife Jane Roberts arrive for a 2018 State Dinner at the White House. At least one of those firms argued a case before the chief justice after paying his wife hundreds of thousands of dollars.
☆ NBCUniversal insiders are asking what's next after CEO Jeff Shell's 'shocking' exit, and female execs are watching leadership closely after a string of high-profile sexual allegations
  + stars: | 2023-04-26 | by ( Lucia Moses | ) www.businessinsider.com   time to read: +4 min
They're asking what Comcast exec Mike Cavanagh's elevation to handle Shell's remit means for NBCU's future. NBCUniversal insiders are reeling after chief Jeff Shell's stunning departure and asking questions about what's next for the Comcast division. News of Shell's hasty exit dropped Sunday after an investigation into what he called an "inappropriate relationship" with a company employee. "It's shocking," said one employee, wondering how an executive at Shell's level would take such a risk with his career. Keeping Cavanagh atop NBCU could serve another purpose — to help bring about a merger of Comcast with Warner Bros.
☆ Baseball Has Changed
  + stars: | 2023-04-23 | by ( Matthew Cullen | ) www.nytimes.com   time to read: +1 min
America’s oldest professional sport looks different this year. For the first time in M.L.B.’s 148-year history, clocks in stadiums now count down between every pitch, forcing pitchers and batters into action. The changes — including the pitch clock and others meant to increase action — have led to much faster games with more hits, more stolen bases and less down time. Whether the changes will increase interest in baseball is another question. Today’s newsletter will explore how different this new version of baseball really is, with some charts from my colleague Ashley Wu.
☆ Inside the Wild World of Celebrity Keynote Speakers: Drugs, Alcohol
  + stars: | 2023-04-23 | by ( David Kushner | ) www.businessinsider.com   time to read: +31 min
"I never saw myself as a speaker, let alone a motivational speaker," Leonard tells me while his assistant irons his jeans. 'When I ramble," Hunter told me, "hit me in the leg!" Every plane had been grounded, including the one stuck on the tarmac with an increasingly inebriated Hunter Thompson trapped inside. But by far the most all-consuming task was booking gigs for Hunter Thompson. Just before a debate with G. Gordon Liddy at Brown University, Hunter demanded that Betsy Berg, whom I now worked alongside at GTN, score him some crystal meth.
☆ Florida Gov. DeSantis attacks Manhattan DA over possible Trump charges
  + stars: | 2023-03-20 | by ( Kevin Breuninger | ) www.cnbc.com   time to read: +3 min
Ron DeSantis took aim at the Manhattan district attorney Monday over his expected prosecution of a hush money case against former President Donald Trump. The remarks came as some of Trump's allies and campaign surrogates have taken note of DeSantis' silence about the possibility of criminal charges being filed against the former president. Jason Miller, Trump's senior campaign advisor, grumbled in a tweet over the weekend about the "radio silence" from DeSantis and Nikki Haley, who launched her own presidential campaign last month. Trump slammed DeSantis over his record on ethanol at a campaign event in Iowa last week. "So DeSantis thinks that Dems weaponizing the law to indict President Trump is a 'manufactured circus' & isn't a 'real issue,'" Trump Jr. tweeted.
☆ Half of Sequoia Capital's VC funds since 2018 have posted losses for the University of California's endowment
  + stars: | 2023-03-08 | by ( Ben Bergman | Darius Rafieyan | ) www.businessinsider.com   time to read: +6 min
The University of California endowment has invested over $800 million in Sequoia funds since 2018. The returns show ten Sequoia funds across all stages and geographies are now underwater for the investor. The University of California's massive $28 billion endowment, a limited partner in 20 Sequoia Capital funds since 2018, is underwater on half those investments, according to documents obtained by Insider. Meanwhile ten of the Sequoia funds that UC Investments has invested in have been marked down in value on paper. One of UC Investment's largest commitments to Sequoia is $232 million earmarked for the 2022 Sequoia Capital Fund.
☆ Biden conditions for chip funding cause 'heartburn,' industry insiders say
  + stars: | 2023-03-01 | by ( Stephen Nellis Jane Lanhee Lee | Stephen Nellis | Jane Lanhee Lee | ) www.reuters.com   time to read: +4 min
Industry sources say that the measure was a surprise and that it is unclear how it would be applied to companies, each of which will have to negotiate separate agreements with the U.S. government. Share repurchases have helped keep investors happy during tumultuous market conditions in the chip industry, which have swung from shortage to glut in two years. “I believe this is going to cause heartburn for companies," a second chip industry executive told Reuters, requesting anonymity to discuss sensitive matters. “It’s pretty odd for a foreign company to accept this kind of meddling in its business," said a third chip industry source. A more onerous issue is that building new chip plants will probably get more expensive in the U.S., where costs are already higher than industry centers such as Taiwan and Singapore.
☆ The 'world's coolest dictator' rounded up 60,000 people in a supposed crackdown on MS-13. A shrimp farming community is fighting back.
  + stars: | 2022-12-27 | by ( Danielle Mackey | ) www.businessinsider.com   time to read: +29 min
SISIGUAYO, EL SALVADOR — On the morning that Walber Rodriguez was arrested last May, he was just two minutes from his home in Sisiguayo, El Salvador. Outside El Salvador, Bukele is best known for adopting Bitcoin as a national currency. All around them in Sisiguayo and the surrounding Bajo Lempa valley, people were arrested with no satisfactory explanation. Residents of the Bajo Lempa who'd been touched by the arrests had begun meeting weekly at a nearby retreat center. A meeting of the Bajo Lempa families on June 17, 2022.
☆ The 'world's coolest dictator' rounded up 60,000 people in a crackdown on MS-13. A shrimp farming community is fighting back.
  + stars: | 2022-12-27 | by ( Danielle Mackey | ) www.businessinsider.com   time to read: +29 min
SISIGUAYO, EL SALVADOR — On the morning that Walber Rodriguez was arrested last May, he was just two minutes from his home in Sisiguayo, El Salvador. Outside El Salvador, Bukele is best known for adopting Bitcoin as a national currency. All around them in Sisiguayo and the surrounding Bajo Lempa valley, people were arrested with no satisfactory explanation. Residents of the Bajo Lempa who'd been touched by the arrests had begun meeting weekly at a nearby retreat center. A meeting of the Bajo Lempa families on June 17, 2022.
☆ Why Europe's efforts to open up the iPhone won't hurt Apple too much
  + stars: | 2022-12-14 | by ( Kif Leswing | ) www.cnbc.com   time to read: +3 min
Now, Apple is reportedly working to follow a law that could force major changes to the iPhone and disrupt Apple's lucrative app distribution model. Apple is developing software to comply with new European Union requirements scheduled to go into effect in 2024, according to Bloomberg News. Currently, the iPhone's App Store is the only way to download software onto iPhones. Apple makes a huge amount of profit from its App Store, which takes a cut of up to 30% from digital sales made through any app it distributes. Apple reported $394 billion in total sales, with $78 billion coming from services, in its 2022 fiscal year, which ended in September.
☆ Beijing, Shenzhen loosen more COVID curbs as China fine-tunes policy
  + stars: | 2022-12-03 | by ( Brenda Goh | ) www.reuters.com   time to read: +5 min
The southern city of Shenzhen announced it would no longer require people to show a negative COVID test result to use public transport or enter parks, following similar moves by Chengdu and Tianjin. A video showing workers in Beijing removing a testing booth by crane on to a truck went viral on Chinese social media on Friday. CHINA OUTLIERThree years into the pandemic, China has been a global outlier with its zero-tolerance approach towards COVID that has seen it enforce lockdowns and frequent virus testing. China reported 32,827 new local COVID-19 infections for Dec. 2, down from 34,772 a day earlier. As of Friday, China reported 5,233 COVID-related deaths and 331,952 cases with symptoms.
☆ In Maradona's shadow, Messi strives for Argentina's forever love
  + stars: | 2022-12-02 | by ( Lucila Sigal Andrew Cawthorne | Lucila Sigal | Andrew Cawthorne | ) www.reuters.com   time to read: +5 min
For years, Argentine fans said that no matter how many Ballons d'Or and trophies Messi won with Barcelona, he could never match Maradona until he too lifted a World Cup. EMOTIONAL MESSIMany of the banners show Messi and Maradona together, some depicting the late No. And Messi himself has opened up emotionally to rally the team and nation after their shock defeat to Saudi Arabia. "For me, Messi has always felt and done his all for the national team, from his first game until now. "Messi has suffered from being a venerated star in Barcelona but often under attack here in Argentina."
☆ Disney insiders are cheering the return of Bob Iger. But they know he can't save them from layoffs.
  + stars: | 2022-11-24 | by ( Lucia Moses | Claire Atkinson | Alison Brower | ) www.businessinsider.com   time to read: +5 min
Bob Iger's return as Disney's CEO was met with surprise and relief by current and former employees. News of Bob Iger's return as Disney's CEO shocked the media world, but for many inside the company, the news touched off a mix of surprise as well as relief. Insider spoke with eight current and recently departed Disney employees about their reactions, hopes, and concerns for what's next. And there's still worry about where cuts will hit and how deep, and what's in store for Disney's streaming business. "Iger still has all the problems Chapek had — the company is bleeding money," said the first Disney insider.
☆ Stablecoins fall few cents short of respectability
  + stars: | 2022-11-23 | by ( John Foley | ) www.reuters.com   time to read: +8 min
That will reignite the debate over how to regulate digital assets – especially when it comes to stablecoins, the most money-like part of the cryptoverse. Stablecoins are digital assets designed to have a steady value, usually by being pegged to a real-world currency like the U.S. dollar. For each dollar of stablecoin a user holds, there’s supposed to be a dollar, or something like a dollar, sitting in a metaphorical vault. And in the case of some so-called algorithmic stablecoins, what backs the stablecoin might be another digital token with no fundamental value. The total sum of major U.S. dollar stablecoins outstanding is just under $145 billion, according to CoinGecko.
☆ Many Disney insiders are cheering Iger's return but still bracing for a tough January with cost cutting
  + stars: | 2022-11-22 | by ( Lucia Moses | Claire Atkinson | Alison Brower | ) www.businessinsider.com   time to read: +5 min
Bob Iger's return as Disney's CEO was met with surprise and relief by current and former employees. News of Bob Iger's return as Disney's CEO shocked the media world, but for many inside the company, the news touched off a mix of surprise as well as relief. Insider spoke with eight current and recently departed Disney employees about their reactions, hopes, and concerns for what's next. One theme park designer and former Disney employee, Taylor A. Baird, said he "almost cried" upon hearing about Iger's return because of his past success running the company. And there's still worry about where cuts will hit and how deep, and what's in store for Disney's streaming business.
☆ Loyal ex-CFO Allen Weisselberg is done testifying at Trump Org tax-fraud trial that Trump calls 'VERY UNFAIR!'
  + stars: | 2022-11-18 | by ( Laura Italiano | ) www.businessinsider.com   time to read: +4 min
Allen Weisselberg, Trump's ex-CFO, has finished testifying in the Trump Org trial. The Manhattan DA's case "has fallen apart," Trump grumbled, meanwhile, of the "VERY UNFAIR!" Still, his loyalties clearly remain with the same Trump Organization that is paying him. on salary that wasn't declared as salary, Susan Hoffinger, one of the two lead prosecutors, asked Weisselberg. "It was some benefit to the company," Weisselberg admitted, though he added, "but it was primarily through my greed."
☆ Democrats’ next big fight: Which state goes first in the 2024 presidential primary
  + stars: | 2022-11-17 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Seitz-Wald-Circle-Byline-Template.Jpg | Alex Seitz-Wald | ) www.nbcnews.com   time to read: +7 min
With Iowa facing possible eviction from the early states, many expect Democrats to elevate a Midwest state. The DNC’s rules and bylaws committee is scheduled to meet in early December in Washington to discuss the presidential primary schedule. The old system began with caucuses in Iowa, went to the New Hampshire primary, then Nevada and finally South Carolina. This week, Nevada Democrats attempted to leverage their party’s midterm performance into an early state slot — including Sen. Catherine Cortez Masto’s victory that decided the Senate majority. A Democrat working on Nevada’s push said the DNC has laid out criteria for early state consideration and voter access is a top concern.
☆ British online furniture seller Made.com suspends trading amid last-ditch rescue talks
  + stars: | 2022-11-01 | by ( Jenni Reid | ) www.cnbc.com   time to read: +4 min
A view of a Made.com high street shop in central London on October 28, 2022 in London, England. Chris J Ratcliffe | Getty Images News | Getty ImagesLONDON — Millennial-oriented furniture retailer Made.com on Tuesday suspended trading of its shares on the London Stock Exchange, after failing to agree a rescue deal before a November deadline. However, customers also grumbled about long delivery times on some items, particularly as global supply chain issues intensified in 2021. Tough conditions"Customers are shying away from big-ticket items," said Sophie Lund-Yates, lead equity analyst at financial services firm Hargreaves Lansdown. "When the cost of living becomes untenable, buying expensive furniture is delayed, and that's exactly the pattern we've seen play out for Made.com."
☆ Can liberals win tough Senate races? Fetterman and Barnes hope to prove it
  + stars: | 2022-10-24 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Seitz-Wald-Circle-Byline-Template.Jpg | Alex Seitz-Wald | ) www.nbcnews.com   time to read: +9 min
WASHINGTON — At stake in this year’s key Senate races is not just the balance of power between the parties, but within them. Now this year's Senate races represent one of the toughest electoral challenges yet for the modern progressive movement. These groups will back progressives in open Senate races, but have yet to recruit someone to run against an incumbent Democrat. But both Fetterman and Barnes then went on to be elected lieutenant governor, statewide victories that helped them convince party insiders they could win U.S. Senate races. John Fetterman, the Democratic Senate nominee in Pennsylvania, greets supporters at Nether Providence Elementary School, in Wallingford on Oct. 15.
☆ Goldman Sachs insiders say they are concerned about CEO David Solomon's push to build his personal brand, pointing to staff help for his DJing and use of the firm's planes
  + stars: | 2022-09-21 | by ( Dakin Campbell | ) www.businessinsider.com   time to read: +15 min
As David Solomon, Goldman Sachs' CEO, was wrapping up a work trip in late July, he boarded the company's Gulfstream G650 for Chicago. His personal account cites his role as Goldman Sachs' CEO, while his official Goldman Sachs account links to his personal account. As CEO, Solomon has overseen the firm's first investor day, launched a strategic update, and reaped record revenue of $59.3 billion in 2021. The Goldman representative disputed that characterization, saying the number of executive TV appearances has more than doubled over the past year. A Goldman representative said that Payback is run by music-industry consultants and that no Goldman Sachs resources are used for the platform.
☆ What it's like working for lawmakers whose golden years are clouded by power struggles, rumors of senility, and constant second-guessing
  + stars: | 2022-09-13 | by ( Warren Rojas | ) www.businessinsider.com   time to read: +25 min
Doug Heye, a Republican strategist, told Insider that some political maneuvering is more tactical. Emanuel, now the US's ambassador to Japan, didn't refute that the exchange took place but told Insider he didn't remember it. It serves the institution," the former GOP aide told Insider, adding that seasoned dealmakers are preferable to partisan bomb-throwers "with some agenda that they're driving." Paul Morigi/Getty ImagesWhite, now the executive director of the Mississippi Department of Transportation, told Insider his boss always had the final word. 'Preserving their dignity'Convincing career lawmakers to hang it up before they tarnish their respective legacies is tricky business, a veteran GOP leadership aide told Insider.
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