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☆ A TikTok Shop exec breaks down the company's vision for the product and how it's wooing brands and creators
▼ + stars: | 2023-06-01 | by ( Marta Biino | ) www.businessinsider.com time to read: +7 min

With Shop, TikTok wants to replicate the success of commerce on its Chinese sister app Douyin. Patrick Nommensen, TikTok GM of UK ecommerce, discussed some of the details for brands and creators. TikTok has big ambitions for shopping and has been investing heavily in it — from developing a logistics business to powering in-app purchases through TikTok Shop. Overseeing TikTok Shop has been one of Nommensen's focuses. Nommensen said TikTok has been working with some high-tier creators and celebrities on a strategic basis to spread awareness around TikTok Shop, pairing them with merchants.

Persons: TikTok, Patrick Nommensen, It's, Nommensen, Nommensen's, livestreaming, Sellers, it's Organizations: TikTok, ByteDance, Street Journal, Facebook, Insider Intelligence Locations: Asia, TikTok, Musical.ly, Spain, Brazil, Southeast Asia, China

☆ Facebook is this creator's primary platform. Here's how she makes money with 285,000 followers, and what she earns.
▼ + stars: | 2023-06-01 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +4 min

Brown, now 26, is a content creator on the platform with 285,000 Facebook followers. Unlike many creators who have taken to TikTok, Instagram, or YouTube to build a career, Brown's audience is primarily on Facebook. Brown started making money as a creator through Facebook's Reels Play Bonus program in July, which paid creators a monthly sum for accumulating views on their reels. But come March, Facebook paused its bonus payouts to focus on its ad-revenue-share program Ads on Reels. Reels Play Bonus: Though Meta ended its Reels Bonus Program, Brown earned about $1,200 each month from Facebook through this while it lasted.

Persons: Shaniece Brown, Brown, she's, Meta, she'll Organizations: Facebook, Brown, Walmart, Burlington Coat Factory, Target Locations: Burlington, strategize

☆ I'm a millennial CEO who hired Gen Zers. I was shocked by their desire for feedback and the help their social media knowledge brings.
▼ + stars: | 2023-05-27 | by ( Alexandra York | ) www.businessinsider.com time to read: +4 min

She recently hired two Gen Zers to help with social media. My Gen Z employees take ownership of tasks and are open to feedbackOur Gen Zers were onboarded very quickly; they didn't need as much hand-holding as I expected. Gen Z's knowledge of social media is critical for businesses todayGen Zers are constantly on TikTok. To keep up with our clients, we needed to bring on some Gen Zers who knew the trends and what influencers were up to. Many Gen Zers read major publications and keep up with the journalists and their work by following them on social media.

Persons: Jen Hartmann, Zers, Hartmann, —, it's, Gen, They'll, I've, Slack Organizations: Service, LinkedIn Locations: Louisville , Kentucky, TikTok

☆ I'm a millennial who left my startup career for a corporate job and my mental health has never been better
▼ + stars: | 2023-04-29 | by ( Alexandra York | ) www.businessinsider.com time to read: +5 min

Nichole Maffey worked in startups for nearly a decade but got her first corporate job this month. Despite the negative connotation of corporate work, she said it's saving her mental health. Startups drove me to embrace the hustleI began my startup career right out of college and have ranged from the ninth hire to the 30th. My roles gave me opportunities to learn at a much faster rate than a siloed, corporate job would have because I was part of so many projects at once. This is just one example: In eight years of working, I'd never been onboarded before this corporate job.

☆ See the pitch deck a Wharton grad used to raise $30 million to tackle one of healthcare's most expensive problems
▼ + stars: | 2023-04-26 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +2 min

Digestive health issues are common and costly to treat. The startup said this month that it raised $30 million from investors to scale its platform. Earlier this month, Oshi announced that it raised a $30 million Series B round led by Koch Disruptive Technologies. Oshi Health removed financial details from the pitch deck it used to raise $30 million in Series B before sharing the presentation with Insider. See the presentation Oshi Health used to raise $30 million:

☆ An outsourcing firm cut dozens of contractors who were training the language model behind OpenAI's ChatGPT
▼ + stars: | 2023-04-22 | by ( Aaron Mok | ) www.businessinsider.com time to read: +6 min

Invisible Technologies laid off 31 contractors hired to train OpenAI's GPT, Insider has learned. OpenAI has reportedly hired about 1,000 contractors globally as its ChatGPT AI gains popularity. San Francisco-based firm Invisible Technologies laid off 31 contractors as of March 16, according to internal Slack screenshots that Insider obtained. Hundreds of Invisible contractors known as "advanced AI data trainers" work with OpenAI to train its GPT bots, internal Slack screenshots show. Invisible laid off contractors based on performance metrics like "quality" and "throughput," Grace Matelich, a partner and operations manager at Invisible, said during the recorded meeting.

☆ See the 16-slide presentation a startup used to sell CVS and Flare on a new approach to treating digestive issues like IBS
▼ + stars: | 2023-04-19 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +2 min

Digestive health issues are common and costly to treat. The startup said this month that it raised $30 million from investors to scale its platform. That's what Oshi Health, a startup that offers care for digestive issues, wants to change. Oshi Health removed financial details from the pitch deck it used to raise $30 million in Series B before sharing the presentation with Insider. See the presentation Oshi Health used to raise $30 million:

☆ Facebook depends on local partners to flag hateful content. In Ethiopia, those partners say they were ignored.
▼ + stars: | 2023-04-15 | by ( Tekendra Parmar | ) www.businessinsider.com time to read: +31 min

Trusted partners say warnings were ignoredInsider spoke with six current and former trusted partners from Ethiopia who said that Facebook routinely ignored their pleas to take down content that they deemed hateful or likely to incite violence. Some of the trusted partners declined to be named because they've faced death threats and fear for their own safety. Multiple trusted partners in Ethiopia said hate speech is still proliferating on the platform. Rafiq Copeland, a senior adviser at InterNews, one of Meta's longest-standing trusted partners globally, told Insider that the core complaints of trusted partners in Ethiopia have come up in other Rest of World countries. Even in Addis Ababa, it seemed that everyone knew about the Facebook posts, and many people now saw him as a traitor.

☆ Why Instagram's 'Creator Marketplace' has left many influencers twiddling their thumbs instead of scoring brand deals
▼ + stars: | 2023-04-03 | by ( Sydney Bradley | Marta Biino | ) www.businessinsider.com time to read: +9 min

"I was so excited when the creator marketplace was rolled out," content creator Melanie Demi told Insider. "Over the last couple of months, I feel like the creator marketplace has died down a little bit," Demi said. "Even on the TikTok creator marketplace, it's the same," said Joseph Arujo, who has access to the feature on both platforms. On TikTok's marketplace, creators can add their starting rates for brand deals or negotiate terms. TikTok's creator marketplace, for example, brought on "alpha partners" in 2021 such as Influential, Whalar, and Captiv8.

☆ CEOs are quietly backtracking on remote work—and more companies could follow
▼ + stars: | 2023-03-30 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

More companies are backtracking on earlier pledges to let employees work from home on a full or part-time basis. Across industries, major corporations including Disney, Twitter and Starbucks are requiring employees to spend more time at the office. Marc Benioff, CEO of Salesforce, is the latest leader to appear to reverse course after embracing remote work and criticizing return-to-office mandates. "Our hybrid approach empowers leaders to make decisions for their teams about how and where they work," a Salesforce spokesperson said in a statement. "And if leaders at big companies are adjusting their return to office policies, others will see that and think, 'I can do the same.'"

☆ See the 14-slide pitch deck Labviva used to raise $20 million to overhaul a crucial but overlooked task for Big Pharma
▼ + stars: | 2023-03-27 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +1 min

The startup just raised $20 million to help expand its team and platform. Siamak Baharloo says there's a big time-consuming task that's taking researchers away from doing science in their labs: finding and buying the right supplies for their experiments. He added that the company expects to see $150 million in purchases on its platform in 2023. Labviva said on Monday that it had raised $20 million from investors in a Series A round led by Biospring Partners, bringing the company's total capital raised to $30 million. See the pitch deck Labviva used to raise its series A round:

☆ The unraveling of fintech darling Vise
▼ + stars: | 2023-03-03 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +28 min

It was April, and more than two dozen salespeople who worked for the fintech startup Vise had been ordered to a multiday off-site at the W Hoboken hotel in New Jersey to share exhaustive reports on their performance. Even salespeople at bigger, established, top-tier investment-management firms typically wouldn't close $250 million in a year, multiple sales employees said. (K-means clustering is an unsupervised machine-learning algorithm often referred to as a form of AI, Vise's founders said). (Vise's founders disputed this, saying the company received updated financial data only once a day for its portfolio-construction engine.) And to address its "leaky funnel" of overestimating prospective sales, Vise was to stop outreach to new clients while it onboards and upsells to existing clients, the document said.

☆ Amazon has gutted the safety teams for its ambitious drone delivery program, as employees warn of stepped-up pressure to meet delivery goals
▼ + stars: | 2023-02-01 | by ( Katherine Long | ) www.businessinsider.com time to read: +8 min

Amazon launched its Prime Air drone delivery program ten years ago. Prime Air's safety teams have been hit hard by Amazon's far-reaching layoffs, employees said. The drone safety team cuts, combined with stepped-up pressure to meet delivery targets, have generated new concerns about the potential dangers the program poses and thrown into question Amazon's stated commitment to safety, the employees said. Prime Air has previously faced criticism from employees who say the pressure from executives to meet ambitious goals for drone delivery has at times superseded safety considerations. Even before the layoffs, Prime Air was struggling, this employee added.

☆ In 2022, UWM became the top US mortgage lender and its CEO bought an NBA team. Against the odds, it expects to grow more.
▼ + stars: | 2023-01-23 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +5 min

United Wholesale Mortgage became the country's largest originator in 2022. Mortgage rates soared at their fastest rate in decades, halting refinances and slowing home purchases to a crawl. In a way, UWM's strategy is much more old-fashioned than other mortgage players, including Rocket Mortgage. "The idea that you can go on a computer, click a button, and there's your mortgage, that's foolish," he said. To Rocket Mortgage, that's a fundamental misunderstanding of its business.

☆ Marc Benioff may be right that Salesforce's young, remote employees are hurting the company's productivity. But it's not their fault.
▼ + stars: | 2023-01-10 | by ( Shana Lebowitz | ) www.businessinsider.com time to read: +4 min

Salesforce's CEO said the company's younger, remote workers may be less productive than their peers. It's possible that Salesforce's younger, remote employees are less productive than the rest of the staff. But it's unlikely that the problem is remote work itself, or the work ethic of remote employees, based on the growing body of research on flexible work. The problem isn't remote work — it's how remote workers are managedBut Salesforce's problem probably isn't necessarily that it permits remote work. On the other hand, Neeley wrote, leaders who micromanage their employees' time "are the kiss of death in hybrid work."

☆ The Lanby just raised $1.2 million to launch a primary-care members club in New York. Here's the pitch deck it used to seal the deal with investors at Female Founders Fund and other VC firms.
▼ + stars: | 2022-12-22 | by ( ) www.businessinsider.com time to read: +3 min

Primary-care startup The Lanby just raised a $1.2 million seed round. The startup provides members with unlimited access to its care teams for $250 a month. Check out the 14-slide pitch deck it used to raise money from Female Founders Fund and other VCs. The New York-based startup raised a $1.2 million seed round at an undisclosed valuation last month led by Female Founders Fund with participation from Launch, Goodwater Capital, and Magic Fund. Check out the 14-slide pitch deck The Lanby used to raise its $1.2 million seed round:

☆ Elon Musk has fired so many Twitter workers by mistake that HR created an 'accidental termination' category to re-onboard employees
▼ + stars: | 2022-11-30 | by ( Kali Hays | ) www.businessinsider.com time to read: +3 min

The problem led Twitter's HR to make changes to get accidentally fired people re-onboarded quicker. Twitter workers are being mistakenly fired so often under CEO Elon Musk's leadership that human resources created a new internal category to identify and rehire them quickly. Musk's cuts to Twitter's staff have been so extensive that the company told remaining employees to try and recruit some laid off colleagues. Even before Thanksgiving, several employees had mistakenly lost access to their work badges that serve as passes into and around Twitter buildings, the people familiar said. Although people who Musk laid off or fired typically received an email confirming their termination, those notes often came several hours after employees lost access to work tools.

☆ The nefarious new way companies are discriminating against remote workers: time-zone prejudice
▼ + stars: | 2022-11-16 | by ( Laura Wheatman Hill | ) www.businessinsider.com time to read: +12 min

In the age of remote work, many people have left coastal hubs for more affordable cities across America. But while the coronavirus pandemic created a surge in remote work, it isn't a pandemic novelty for companies to have a global reach. But the shift in which companies are now offering remote work options provides a clue to why time-zone bias is becoming worse. Jane took her job at the creative agency because she thought her local 9-to-5 working hours would be respected. It is important that companies be extra cognizant of what will happen if they continue to ignore and exploit remote workers.

☆ Twitch conducts layoffs on its recruiting team and plans to reduce hiring in 2023
▼ + stars: | 2022-11-16 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +2 min

Twitch has laid off staff on its recruiting team as it plans to reduce hiring in 2023. No additional cuts will be made as a result of the ongoing layoffs at parent company Amazon, a spokesperson said. Twitch has conducted layoffs on its recruiting team, a company spokesperson confirmed to Insider, adding that the decision reflects its plans to reduce hiring in 2023. The Twitch spokesperson noted that only the recruiting team was impacted, and that the cuts were not the result of parent company Amazon's ongoing layoff plans. At least four LinkedIn users who identified themselves as former Twitch employees publicly shared that they'd been laid off.

☆ Businesses can achieve sustainability without sacrificing profit. This company is proving it.
▼ + stars: | 2022-11-10 | by ( Sponsor Post | Created Ibm With Insider Studios | ) www.businessinsider.com time to read: +4 min

By going carbon neutral, Bosch is making a significant contribution to the goal of limiting global warming to 1.5 degrees Celsius. A Bosch washing machine Courtesy of BoschSustainability without sacrificing performanceBosch is committed to energy-efficient operations by enabling even greater sustainability across its business. By moving its SAP solutions to IBM Power10 servers, Bosch is developing IoT solutions while slashing data center energy usage by 20% — taking its green strategy to the next level. The company's global SAP solutions are crucial to underpinning these efforts — and transitioning the SAP solution infrastructure to Power10 is an essential part of its long-term IT strategy. "From the moment we onboarded our first customer to the IBM Power E1080, we saw processing performance gains and improvements of roughly 50% in response times."

☆ Randi Zuckerberg's company is buying an NFT community as part of her plan to build the 'IAC of Web3.' Here's why she thinks more startups will combine to survive the crypto winter.
▼ + stars: | 2022-11-03 | by ( April Joyner | ) www.businessinsider.com time to read: +3 min

Randi Zuckerberg's company Assemble is buying the NFT community Meta Angels for an undisclosed sum. Meta Angels will run alongside Hug, Zuckerberg's Web3 community to welcome newcomers to NFTs. Zuckerberg, Cavoulacos, and Downey all sought to help change that. Zuckerberg — the sister of Mark Zuckerberg, Meta's CEO, and the former director of market development at Facebook — cofounded the Web3 community Hug. Assemble — the parent company of Hug and other technology projects still in stealth — is acquiring Meta Angels, Zuckerberg and Cavoulacos told Insider.

☆ Fintechs should have partnerships with more than one bank as regulatory scrutiny ramps up, according to an industry insider
▼ + stars: | 2022-10-28 | by ( Asia Martin | ) www.businessinsider.com time to read: +2 min

Fintechs often have one bank partner because of the lengthy due diligence process. As fintech and bank partnerships receive heavier scrutiny, financial-technology companies shouldn't place their eggs in one basket, according to one insider. Fintechs should have more than one bank partner in this regulatory environment, John Beccia, CEO of consultancy FS Vector, said while speaking at Money20/20 USA. Beccia cited Blue Ridge Bank, which has faced regulatory issues from the Office of Comptroller of the Currency over its third-party fintech partnerships. And fintechs, if they only have one bank partner, they'll be left without a partner," said Beccia.

☆ Here's an exclusive look at the pitch deck that fintech startup WageFi used to raise its first $400,000 from former American Express and Goldman Sachs executives
▼ + stars: | 2022-10-20 | by ( Emilia David | ) www.businessinsider.com time to read: +2 min

WageFi raised $400,000 from investors include former American Express and Goldman Sachs executives. Prshant Batra, who founded the company this year and serves as its CEO, previously worked for Goldman Sachs's consumer banking unit, Marcus, and American Express. The startup plans to mainly work with small and medium-sized businesses within the service industry that WageFi believes is underserved with financial products. While this is the first institutional funding for WageFi, Batra said he's not rushing any other fundraising for the company. Here is an exclusive look at the pitch deck WageFi used to raise $400,000 in pre-seed funding.

☆ Jellysmack is launching a new studio that will produce months' worth of original content for creators
▼ + stars: | 2022-10-18 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +4 min

Jellysmack will produce original content for creators through its new division, JellySmash. When creators are burned out or simply seeking to scale, JellySmash can film two months' worth of videos in three days. Jellysmack on Tuesday unveiled a new original content division called JellySmash Productions that the company has been incubating for the past year. JellySmash will monetize the content by taking a cut of creators' ad dollars on the back-end of the content. Its flagship offering, the Jellysmack Creator Program, takes existing videos and optimizes them for distribution on other platforms.

☆ Transportation and logistics companies are betting their business models on 5G amid cost, infrastructure, and adoption challenges
▼ + stars: | 2022-10-13 | by ( Nicholas Fearn | ) www.businessinsider.com time to read: +7 min

Driverless car company Halo.Car and UK courier service Yodel join a growing list of companies pegging key offerings to 5G networks. 5G enables transport operators to deliver new mobile capabilities to enrich the experience of both drivers and passengers. With 5G technology, subway commuters benefit from improved download speeds and internet connectivity. Yodel claims that its software — combined with 5G connectivity — has helped drivers like Lloyd increase productivity by up to an hour each shift. Although 5G offers massive potential for transport and logistics firms, Davidson urges companies to continue testing other products, services, and solutions as 5G evolves.

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