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☆ Loyalty at work no longer pays — and it's employers who are to blame
▼ + stars: | 2024-05-31 | by ( Steven Piluso | ) www.businessinsider.com time to read: +7 min

I got an early impression of what company loyalty was supposed to beAfter college graduation at age 22, I got my first job at an advertising agency. And you didn't worry about jumping around for money; if you took care of the company, they'd take care of you and your family." AdvertisementHe gave them 40+ years of his life, and in return they took great care of him. The broken loyalty contract between employers and workers can be repairedIs loyalty a dated and dead concept? In fact, the shift in values from Gen-X to millennials and Gen-Z creates a great opportunity to ignite loyalty.

Persons: —, I've, I'd, He'd, who'd, Gen X, Steven Piluso Organizations: Service, Business, Fortune Locations: Nantucket, Vermont

☆ As TikTok layoffs hit, let-go staffers reflect on what one described as an 'abrupt end to a very chaotic ride'
▼ + stars: | 2024-05-30 | by ( Shriya Bhattacharya | Dan Whateley | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. "I'm just really disappointed," one laid-off TikTok employee told Business Insider. This story is available exclusively to Business Insider subscribers. AdvertisementA second let-go employee who had worked at the company amid political attacks and business-strategy shifts described the layoffs as "an abrupt end to a very chaotic ride." AdvertisementLet-go TikTok staffers wondered, why now?

Persons: —, I'm, Adam Presser, Zenia Mucha, Pappas, Presser, Mucha, ByteDance, TikTok Organizations: Service, Business, Big Tech, Google Locations: Brazil, France

☆ NASA isn’t just creating a lunar time zone. It’s establishing an entirely new time scale
▼ + stars: | 2024-05-30 | by ( Jackie Wattles | ) edition.cnn.com time to read: +15 min

They’re also going to be communicating with one another or driving their moon buggies while on the lunar surface. Lunar clockworkWhat scientists know for certain is that they need to get precision timekeeping instruments to the moon. Exactly who pays for lunar clocks, which type of clocks will go, and where they’ll be positioned are all questions that remain up in the air, Gramling said. Focke Strangmann/APThe new time scale would underpin an entire lunar network, which NASA and its allies have dubbed LunaNet. But how future astronauts living and working on the lunar surface will experience time is a different question entirely.

Persons: aren’t, Cheryl Gramling, NASA’s, Gramling, Omer Tarsuslu, They’re, ” Gramling, Albert Einstein, Paco, Sao, Sundials, —, ”, Bruce Betts, Kevin Coggins, you’ve, ” Coggins, “, Bijunath, Patla, ” Patla, Focke Strangmann, It’s, “ It’s, Betts, Artemis III, Arizona State University “ It’ll Organizations: CNN, NASA, NASA’s Goddard Space Flight, Getty, White, Astronauts, Planetary Society, NASA’s Space Communications, Navigation, US National Institute of Standards, Technology, Vehicles, Physical, National, European Space Agency, International Astronomical Union, Reconnaissance, Arizona State University Locations: United States, China, Maryland, Kars, Turkey, Anadolu, German, Sao Miguel, Evora , Portugal, Germany, Malapert Massif

☆ Trump's jury asked to re-hear the judge's 'rain metaphor' instruction — here's what that might mean
▼ + stars: | 2024-05-30 | by ( Jacob Shamsian | Laura Italiano | ) www.businessinsider.com time to read: +5 min

Read previewThe jury in Donald Trump's criminal hush-money trial had a specific request before starting deliberations on Thursday — they asked to hear again what they described in a note as the judge's "rain metaphor" instruction. It advises a jury that they can infer that it's raining — by seeing someone's wet umbrella, for example — even if they don't see the rain themselves. The "rain metaphor," as the jury note called it, is often used by judges in jury instructions. AdvertisementOn Wednesday afternoon, they asked for the judge to read back roughly a half-hour of testimony. After the judge completed his recitation of the jury instructions, two of the court stenographers re-read portions of the testimony.

Persons: —, Donald Trump's, Juan Merchan, Merchan, scribbled, Trump, Stormy Daniels, Daniels, Donald Trump, MARK PETERSON, Getty Images Trump, Michael Cohen, stenographers, David Pecker Organizations: Service, Business, New, Trump, Getty Images, Election, National Enquirer Locations: raincoats

☆ Shopify COO says in leaked memo that the Shopify Plus brand has 'outlived its usefulness' and will no longer be used
▼ + stars: | 2024-05-30 | by ( Madeline Stone | ) www.businessinsider.com time to read: +4 min

Read previewShopify plans to stop referring to its Shopify Plus offering as a stand-alone brand, according to an internal post viewed by Business Insider. By deprecating the Shopify Plus brand, Shopify could be signaling that it no longer needs or wants to differentiate between its various customer segments. To make this obvious, we started a product line called Shopify Plus and built entire marketing campaigns around the Shopify Plus brand. We built Plus brand as a counter-position to the Shopify brand. Shopify Plus will have all the same brand equity as Shopify Advanced or Shopify Basic.

Persons: —, Kaz Nejatian, Nejatian, Harley Finkelstein, Shopify, Bobby Morrison, Adrianna Burrows Organizations: Service, Business, Shopify, Manhattan Associates Locations: Shopify's, mstone@businessinsider.com

☆ Amazon is hunting for more brand collaborations with a slew of new exec appointments. Read the full memo.
▼ + stars: | 2024-05-29 | by ( Lucia Moses | ) www.businessinsider.com time to read: +7 min

Read previewFresh off bringing ads to Prime Video, Amazon is looking for more ways to get brands involved in its original TV shows and films. The company also made several other appointments to develop projects that are funded by or focused on brands and work on integrating ads into Prime Video entertainment. AdvertisementHer future role at Freevee had been the subject of internal speculation after Amazon added advertising to Prime Video. With this in mind, I am pleased to share that Lauren Anderson's remit is expanding to support those efforts for Amazon MGM Studios. Finally, Lauren will continue her oversight of Amazon MGM Studios 1P FAST Programming delivered to Prime Video and Freevee.

Persons: —, execs, Lauren Anderson, Anderson, Freevee, James Marsden, hasn't, Vernon Sanders, Lauren Anderson's, Lauren, Christel Miller, Jenny Falkoff, Alysia Russo, Benoit Landry, Benoit's, Justin Holt, Justin, Claudine Atout, Traci Blackwell, Kara Smith, Vernon Organizations: Service, Amazon MGM, Business, Prime, Amazon MGM Studios, Brands, Hulu, Marriott, MGM Studios, Studios, Amazon, Film, Ad, MGM, FAST

☆ What Google, Meta, Amazon, and other tech workers should wear this summer
▼ + stars: | 2024-05-29 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewTech's top players are switching over to their summer styles — and workers should follow suit if they want to dress to impress. Still, tech workers have begun hiring stylists to help them dress better for work. Here's what fashion experts believe tech workers should be wearing this summer. Advertisement"Heading into the summer season, I can see the entry-level tech crowd wearing something clean and understated," Carol Altieri, COO of Bob's Watches told Business Insider.

Persons: —, Mark Zuckerberg, Jeff Bezos, Bill Gates, Sergey Brin, Eddie Hernandez, henley, Fitch, Hernandez, Niels, Gates, accessorizing, Zuckerberg, Carol Altieri, Bob's, Altieri, Ria Papasifakis, Linda Yaccarino, Papasifakis Organizations: Service, Business, San Francisco, Meta, Abercrombie, Fitch, Norse, Adidas, Cosmopolitan, Rolex, Ritani Tech, Bob's Watches Locations: Ritani

☆ How to run an efficient meeting, according to tech billionaires who took them very seriously
▼ + stars: | 2024-05-28 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +4 min

"I like a crisp document and a messy meeting," Bezos said in a conversation with podcaster Lex Fridman in December. Microsoft had just bought the company Williams worked at. Gates "was always curious, always wanted to understand, always drilling for more detail," Williams wrote for BI in 2023. AdvertisementAfter Jobs died in 2011, Segall wrote a book about Apple's work culture, "Insanely Simple." "He stopped cold," Segall wrote.

Persons: —, Mark Cuban, Jeff Bezos, Cooper Neill, Bezos, Lex Fridman, Bill Gates, Sean Gallup, Chris Williams, Gates, Williams, he'd, Steve Jobs, Justin Sullivan, Ken Segall, Jobs, Segall, Lorrie, Eric Schmidt, Antoine Antoniol, Schmidt, Jonathan Rosenberg, Rosenberg Organizations: Service, Business, Getty, Microsoft, Intel, BI, Getty Former, Google

☆ Biden reelection campaign enlists January 6 police officers to campaign in key swing states
▼ + stars: | 2024-05-28 | by ( Kayla Tausche | ) edition.cnn.com time to read: +3 min

Washington CNN —The Biden reelection campaign has enlisted three police officers – all of whom were working at the US Capitol on January 6, 2021, when rioters overtook the building – to stump for Biden across battleground states in the coming weeks, the campaign told CNN. Aquilino Gonell, Officer Harry Dunn and Officer Danny Hodges plan to tell voters across key swing states that former President Donald Trump poses a threat to democracy and to their fundamental rights as Americans. Dunn and Gonell sustained injuries during the attack on the Capitol and have since retired from the Capitol Police. “We were the victims, we lived through it,” Dunn, who mounted an unsuccessful bid for Congress, told CNN in an interview. In a fundraising email to Biden supporters last week, Gonell described sustaining career-ending injuries and being “trampled in a tunnel” – and noting he would continue fighting for America after being in uniform.

Persons: Washington CNN —, –, Aquilino Gonell, Harry Dunn, Danny Hodges, Donald Trump, Dunn, Gonell, Hodges, ” Dunn, Trump, Biden, “, insurrectionists, ’, goading Trump, ”, Harris, Jen O’Malley Dillon, CNN’s Priscilla Alvarez Organizations: Washington CNN, Biden, Capitol, CNN, Capitol Police, DC’s Metropolitan Police Department, America, Seven, NATO, Russia Locations: Nevada, Arizona, Pennsylvania, Wisconsin , Michigan, New Hampshire, Atlanta, France, Washington ,, Ukraine

The Daily Beast’s new leaders will do a round of voluntary buyouts intended to cut costs by $1.5 million, in one of their first major moves to try to revitalize the flagging digital tabloid. The new leaders, Joanna Coles and Ben Sherwood, both media veterans, joined the company in April in exchange for an equity stake in the business. Barry Diller’s company, IAC, maintains control of the publication. The Daily Beast’s union told its members in a memo this week that workers would have until June 14 to apply for a buyout, after which the publication would accept applications “in reverse seniority order until they meet their $1.5 million threshold.”Decisions on additional applications beyond that threshold would be up to the company, and there would be “a moratorium” on further layoffs until the end of the year, according to the union’s memo. The cuts are not targeting any particular coverage area.

Persons: Joanna Coles, Ben Sherwood, Barry Diller’s Organizations: IAC, Daily

☆ AliExpress taps David Beckham for a brand ambassador deal
▼ + stars: | 2024-05-27 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Read previewAliExpress, the international e-commerce site owned by Alibaba, is bringing on soccer star David Beckham as a brand ambassador. Enter Beckham, who will be a global ambassador for AliExpress as the face of its "Score More with AliExpress" campaign, the company announced Monday. Related storiesIn conjunction with the partnership with Beckham, AliExpress said it's investing millions of euros to sponsor the UEFA Euro 2024 tournament — beginning June 1 — and drive user engagement to its app. Advertisement"AliExpress is helping fans get even closer to UEFA Euro 2024 this summer, by offering them great prizes as the action takes place on the pitch," the former English national team captain said in a statement. "Whether you're a football fan or not, I can think of no-one better to show how easy it is to win with AliExpress during UEFA Euro 2024," Gary Topp, European Commercial Director, AliExpress, said about partnering with Beckham.

Persons: —, David Beckham, Temu, Beckham, AliExpress, Alibaba, Jack Ma, Ma, Gary Topp Organizations: Service, Business, AliExpress, UEFA, English, Employees, Reuters Locations: Berlin

☆ Some iPhone users eligible for $349 in lawsuit settlement payout over audio issues
▼ + stars: | 2024-05-24 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +1 min

CNN —Some iPhone 7 and iPhone 7 Plus owners may be eligible for a payout as part of a $35 million settlement. iPhone 7 and iPhone 7 Plus users who experienced issues related to the audio chip could receive up to $349 in compensation as part of a 2019 lawsuit filed in the US District Court for the Northern District of California. Apple denied the devices had these issues and all allegations of wrongdoing, according to the Settlement Administration website. Eligible users might receive an email or postcard in the mail about the settlement. This isn’t the first lawsuit payout for the iPhone 7 models.

Persons: Siri Organizations: CNN, Court, Northern, Northern District of, Apple, Administration Locations: Northern District, Northern District of California

☆ FDIC did not report allegations of senior officials' misconduct 'in a timely manner,' watchdog says
▼ + stars: | 2024-05-24 | by ( Josephine Rozzelle | ) www.cnbc.com time to read: +3 min

The Federal Deposit Insurance Corp. failed to report allegations of senior officials' misconduct in a timely manner, according to a new memo from the agency's internal watchdog. The Office of Inspector General "learned of several allegations of misconduct regarding senior FDIC officials that were not reported to the OIG in a timely manner," said the letter, dated Thursday. "The OIG is now reviewing these allegations to determine how they should be incorporated into OIG work plans." A scathing independent report published in April found a widespread culture of harassment and discrimination at the FDIC, citing allegations from more than 500 FDIC employees. "The FDIC has failed to provide a workplace safe from sexual harassment, discrimination, and other interpersonal misconduct," the report concluded.

Persons: Martin Gruenberg, Jennifer Fain, Gruenberg, General, Fain, Gruenberg —, Joe Biden, —, Republican Travis Hill, Biden Organizations: Federal Deposit Insurance Corporation, Financial, Federal Deposit Insurance Corp, FDIC, FDIC's, Republican, GOP, Financial Services, White Locations: Washington , DC

☆ OpenAI sends internal memo releasing former employees from controversial exit agreements
▼ + stars: | 2024-05-24 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

OpenAI on Thursday backtracked on a controversial decision to, in effect, make former employees choose between signing a non-disparagement agreement that would never expire, or keeping their vested equity in the company. The internal memo, which was viewed by CNBC, was sent to former employees and shared with current ones. The memo said OpenAI will also not enforce any other non-disparagement or non-solicitation contract items that the employee may have signed. "As we shared with employees, we are making important updates to our departure process," an OpenAI spokesperson told CNBC in a statement. Bloomberg first reported on the release from the non-disparagement provision.

Persons: Sam Altman, OpenAI, Vox, ChatGPT Organizations: Microsoft, CNBC, Bloomberg Locations: Redmond , Washington, OpenAI

☆ It's the summer of $5 meals: Burger King creates a value meal to rival McDonald's deal
▼ + stars: | 2024-05-24 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +2 min

Read previewBurger King is launching its own $5 meal just two weeks after reports of McDonald's introducing a similar deal. Burger King plans to launch the set, which will include a sandwich, chicken nuggets, fries and a drink, before McDonald's, according to a document seen by Bloomberg. It's unclear exactly when Burger King will launch its promotion. Earlier this week, Wendy's also announced its version of a value meal — a $3 set consisting of a breakfast sandwich and a small batch of seasoned potatoes. "Our priority is to continue enhancing our value proposition through our quality food and beverages at attractive price points," Kobza said.

Persons: —, Burger King, Burger, Tom Curtis, Wendy's, Joshua Kobza, Kobza Organizations: Service, Bloomberg, Business, Burger King US, Street, Burger King, Restaurant Brands Locations: Canada

☆ Texas Republicans confab hints at how GOP breakup with corporate America could play out
▼ + stars: | 2024-05-24 | by ( Brian Schwartz | ) www.cnbc.com time to read: +2 min

The annual Texas Republican Convention started Thursday in San Antonio, and culminated with George's election as party chair. Verizon , Comcast and Union Pacific sponsored the 2020 Texas Republican convention, according to The Texas Tribune. Pepsi and Chevron were sponsors of the 2022 Texas Republican convention, but they are not backing this year's event. The fight over corporate money also bubbled up in the election that George won on Friday, to lead the state party. This team "wears that as a badge of honor," he said, before the new chair of the state party was elected.

Persons: Greg Abbott, Donald J, Trump, Abraham George, George, Matt Mackowiak, Mackowiak, Griffin Perry, Rick Perry, Perry Organizations: Texas, Weslaco Department of Public Safety, Republican Party of Texas, America, RPT, Texas Republican, Fortune, Verizon, Comcast, Union Pacific, The Texas Tribune, Pepsi, Chevron, Veteran, GOP, Republican, Texas Gov, CNBC Locations: Mexico, Weslaco , TX, Texas, San Antonio

☆ The Washington Post publisher disclosed the paper lost $77 million last year. Here’s his plan to turn it around
▼ + stars: | 2024-05-23 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

Lewis’ plan, however, included more than just revamping The Post’s subscription offerings. While The Post clearly plans to bet big on infusing its products with A.I., it wants to emphasize the human element of its journalism. Whether the multi-pronged initiative is enough to turn The Post around, of course, remains to be seen. But the new publisher voiced confidence that these measures will put The Post on track for success. “I really hope at some point in the future, when you look back on this day,” he told staffers, “it’s actually quite a significant day in the history of our company.”

Persons: Will Lewis, strode, Lewis, “, ” Lewis, I’m, Axios, we’ve, ” Karl Wells, Lewis ’, Vineet Khosla, ”, Sally Buzbee, Kathy Baird, “ it’s Organizations: New York CNN, The Washington Post, Brit, Apple, POLITICO, Silicon Locations: New York

☆ Amazon’s new cloud boss inherits a business under pressure to keep pace in AI
▼ + stars: | 2024-05-23 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +12 min

"It's very early days in generative AI," said Jassy, who succeeded Jeff Bezos as CEO in 2021. Davidson, told CNBC that Amazon was "caught flat-footed" by the generative AI boom. During a Q&A session on Wednesday, Jassy was asked twice about the status of Amazon's generative AI efforts. He said the company is "seeing a lot of momentum" in generative AI within AWS to where it's now a multibillion-dollar business based on annualized revenue. Amazon has previously said it intends to use generative AI to make Alexa more conversational.

Persons: Noah Berger, Andy Jassy, OpenAI's ChatGPT, Adam Selipsky, Jassy, Jeff Bezos, Matt Garman, Gil Luria, Davidson, Luria, Bezos, Selipsky, Casey McGee, McGee, Anthropic, Dario Amodei, OpenAI, it's, Garman, Amazon, wasn't, Dilip Kumar, Kumar, Swami Sivasubramanian, Jamie Meyers, Meyers, Matt, Jordan Novet, Kate Rooney Organizations: Web Services, Getty, Amazon, Microsoft, Google, D.A, CNBC, Amazon Web, Alexa, AWS, Nvidia, ChatGPT, Accenture, Toyota, Nasdaq, Investments Locations: Las Vegas, Vegas, Bezos, Anthropic

☆ Kristi Noem’s dog: The internet wants you to believe this is the dog she shot. It isn’t.
▼ + stars: | 2024-05-22 | by ( Donie O'Sullivan | ) edition.cnn.com time to read: +8 min

Indeed, when I Googled “Kristi Noem’s dog” this morning, it was one of the first pictures that popped up. It was on the “Puppy” subreddit where user “LukeWarm273” posted a photo of their dog “Blue” last year. “He’s a cutie,” one Reddit user responded. “Please join me in wishing Cricket (the dog Kristi Noem shot to death) a blessed journey to the land of beautiful puppy dog souls. The story shows a photo of Reddit user LukeWarm273's dog, Blue, next to Noem.

Persons: Kristi Noem, It’s, Kristi Noem’s, LukeWarm273 ”, NewsGuard, LukeWarm273, “, ”, Noem, Donald Trump’s, haring, lear, ince, taff, ike, rove, ake, hotos, hough, uppy) Organizations: CNN, South Dakota Gov, United Kingdom’s, Cricket, GOP Locations: Washington, DC, ”, South Dakota

☆ Embattled AI firm Appen loses more executives, months after Alphabet cut ties
▼ + stars: | 2024-05-22 | by ( Hayden Field | ) www.cnbc.com time to read: +4 min

Appen, the embattled artificial intelligence firm that once helped train AI models for tech giants including Microsoft , Nvidia and Google , has lost its executives in charge of revenue and marketing. The departures follow Alphabet 's announcement in January that it was cutting all contractual ties with Appen, which once helped train Google's chatbot and other AI products. Two weeks after that decision, Appen CEO Armughan Ahmad left after just 12 months on the job. After a "strategic review process," Alphabet notified Appen in January of the termination, which went into effect March 19, according to a filing from Appen. Companies are spending far more on processors from Nvidia and less on external AI training from companies like Appen.

Persons: Andrew Ettinger, Alicia Hale, Ryan Kolln, Google's, Armughan Ahmad, Appen's, Kolln, OpenAI's ChatGPT, Appen didn't Organizations: Microsoft, Nvidia, Google, CNBC, Apple, Amazon, Appen, Australian Securities Exchange Locations: Australian

☆ Former BP exec's ex-husband gets prison for insider trading after eavesdropping on her calls
▼ + stars: | 2024-05-22 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

The ex-husband of a former BP mergers and acquisitions manager was sentenced to two years in federal prison for insider trading that netted him $1.76 million after he eavesdropped on her work calls about the oil giant buying another company. The ex-husband, Tyler Loudon, also was sentenced to one year of supervised release after his prison term and fined $10,000 by U.S. District Court Judge Sim Lake in Houston on Monday. The prison sentence was at the bottom end of the 24-to-30-month range requested by federal prosecutors. His purchases started after he secretly listened to his wife's work calls about BP buying TravelCenters and later discussed the deal with her in "normal" married-couple kinds of conversations, according to court records. Loudon's wife, who was not accused of wrongdoing, reported his actions to her BP supervisor, but she ended up getting fired later, court records show.

Persons: eavesdropped, Tyler Loudon, Sim Lake, Loudon's, Peter Zeidenberg, Lake, Loudon, Mr, Tyler, Zeidenberg Organizations: U.S, BP, Industry, Authority, CNBC Locations: Houston, Loudon, TravelCenters, America

☆ Biden takes credit for Target grocery price cuts: 'They're answering the call'
▼ + stars: | 2024-05-21 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

U.S. President Joe Biden delivers remarks on lowering costs for American families during a visit to Goffstown, New Hampshire, on March 11, 2024. President Joe Biden took a victory lap after Target announced it was lowering prices on groceries and other items — and hopes voters will give him the credit. "President Biden called on grocery chains making record profits to lower prices for consumers — and they're answering the call," the White House wrote in a social media post Monday evening in response to a headline about Target's price cuts. Earlier on Monday, Target announced it would lower prices on roughly 5,000 items, including food items such as bread, fruit, vegetables, milk and meat. "President Biden's top economic priorities are fighting inflation and lowering costs for the American people," White House spokesperson Andrew Bates wrote in a memo Monday.

Persons: Joe Biden, Biden, Biden's, Andrew Bates Organizations: Target, White Locations: Goffstown , New Hampshire

☆ Here's the pitch deck Footprint, a startup helping Wall Street verify customer identities, used to raise $13 million from VCs like QED and Index Ventures
▼ + stars: | 2024-05-21 | by ( Bianca Chan | ) www.businessinsider.com time to read: +1 min

Footprint is a startup that helps financial firms onboard customers and verify their identities. It raised $13 million in a Series A, announced today, that was led by QED Investors. Here's the pitch deck and 5-page memo that Footprint used to win over investors. AdvertisementA startup looking to be Wall Street's one-stop shop for onboarding new customers just raised $13 million. The round was led by QED Investors, and included investment from Index Ventures and Palm Tree Capital, among others.

Persons: —, Eli Wachs Organizations: QED Investors, Service, Business, Index Ventures, Tree

☆ This Man Did Not Invent Bitcoin
▼ + stars: | 2024-05-21 | by ( David Yaffe-Bellany | ) www.nytimes.com time to read: +1 min

For much of its existence, the cryptocurrency company nChain was governed by a golden rule of office politics: It was not a good idea to challenge Craig Steven Wright, the chief science officer. At nChain’s London offices, Dr. Wright, an Australian computer scientist, was treated as a sort of philosopher king. In 2017, Martin Sewell, an nChain employee, circulated a skeptical memo documenting technical errors in a series of papers that Dr. Wright had published about economics and computer science. A manager called Mr. Sewell into his office and told him that he had to stop. The deference to Dr. Wright “was just this extraordinary arrangement,” Mr. Sewell recalled.

Persons: nChain, Craig Steven Wright, Wright, Wright’s, Martin Sewell, Sewell, Wright “, ” Mr, “, ” Organizations: Lamborghini Locations: nChain’s London, Australian

☆ Penguin Random House Dismisses Two of Its Top Publishers
▼ + stars: | 2024-05-20 | by ( Alexandra Alter | Elizabeth A. Harris | ) www.nytimes.com time to read: 1 min

In a significant shake up, Penguin Random House, the largest publishing house in the United States, announced on Monday that the publishers of two of its most prestigious literary imprints had been let go. The departure of Reagan Arthur, the publisher of Alfred A. Knopf, and Lisa Lucas, the publisher of Pantheon and Schocken, likely came as a surprise to many in the company — including, it seemed, to Lucas. Lucas posted on X, formerly called Twitter, that she had learned of her dismissal at 9:30 a.m. on Monday morning. “I have some regrets about spending the weekend working,” she wrote. In a memo to employees, Maya Mavjee, the president and publisher of Knopf Doubleday, acknowledged the news would likely be unsettling to many, but noted that restructuring the imprints was “necessary for our future growth.”

Persons: Reagan Arthur, Alfred A ., Lisa Lucas, Lucas, “, ”, Maya Mavjee Organizations: Penguin Random, Alfred A . Knopf, Pantheon, Schocken, Knopf Doubleday Locations: United States

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