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☆ How on-demand delivery services hobbled America's biggest city
▼ + stars: | 2023-05-05 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

But even the largest city in the country isn’t designed to handle the rise of online ordering and the influx of delivery workers. The way New York City handles these issues will shape the response in other major cities. “People view delivery workers as dirty, smelly and taking up too much space,” said Wood, a member of Workers Justice Project, an advocacy group for delivery workers in New York City. The growing dependency on e-bikes has been driven by demands on delivery workers, including faster delivery and bigger areas to cover. “But delivery workers are on the front lines of this and it’s even more necessary for them.”

☆ Wells Fargo is pushing for quantity over quality in its private bank
▼ + stars: | 2023-05-04 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Which brings us to a fantastic story about Wells Fargo's decision to reorganize how it serves its ultra-rich clients. And while many understood some changes were necessary, nearly everyone agreed the bank didn't go about it the right way. Read more about Wells Fargo's chaotic reorganization of its private bank. It's the latest move in what has been an active 12 months for the bank's tech division. The accounting firm had signed off on financial statements from Silicon Valley Bank, Signature Bank, and First Republic, the Financial Times reports.

☆ How These Budding Entrepreneurs Won $20,000 for Their Start-Ups
▼ + stars: | 2023-05-04 | by ( Winnie Hu | ) www.nytimes.com time to read: +1 min

Teaching remotely, Ms. Adams put the money that she saved by not commuting toward trying out recipes for vegan muffins, reduced-sugar cookies and low-carb pizzas. A few months ago, Ms. Adams received a newsletter from her landlord, the New York City Housing Authority, which announced a new competition for entrepreneurs living in public housing. It offered cash prizes of up to $20,000 and free business development classes. “I thought it was fake,” Ms. Adams said. She called the housing authority to make sure it was real.

☆ 10 Things in Tech: Uber wants to predict your habits, Apple and Google team up, and Lebron James eyes Complex Networks
▼ + stars: | 2023-05-04 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

And minting it could be a solution to avert a major economic catastrophe (here's an explanation of the looming disaster, by the way). This average-looking coin could prevent job losses, steep cuts to retirement savings, and other major financial blows. Shopify employees and experts brace for shakeup. Multiple sources told Insider that his company, SpringHill Co., has internally discussed offering around $100 million to buy Complex from Buzzfeed. Google tells employees to limit publishing AI research.

☆ This is the banking crisis that doesn't end
▼ + stars: | 2023-05-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

This is the banking crisis that doesn't end. So, about that banking crisis being over. The ink is barely dry on JPMorgan's agreement with regulators and it seems more regional banks are feeling the pain. Customers of regional banks are starting to ask questions about how safe their local lender is, the Financial Times reports. Here's more on how regional banks are still getting slammed despite JPMorgan's Jamie Dimon calling an end to the bank crisis.

☆ When Brian Chesky co-founded Airbnb, his mom said, 'You're not an entrepreneur, you're unemployed'—now he's worth $9.3 billion
▼ + stars: | 2023-05-03 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

That's according to Chesky, who told the story at a recent Stanford Graduate School of Business event. Months before Airbnb's scheduled initial public offering, business dropped 80% in eight weeks during Covid-19 lockdowns, Chesky told Stanford students. Today, Airbnb's market cap is $75.49 billion, and Chesky's net worth is $9.3 billion, according to Forbes. "I never focused on trying to make a lot of money," Chesky said. DON'T MISS: Want to be smarter and more successful with your money, work & life?

☆ Fact Check-Purported clip of NYC ‘parade’ for Tucker Carlson’s Fox News exit is almost two years-old
▼ + stars: | 2023-05-02 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

It is not related to Tucker Carlson exiting Fox News, as claimed on social media. “NYC is going nuts over Tucker Carlson news,” reads a superimposed text in the circulating clip, which appears to have originated on TikTok. It is also viewable on Facebook (here)Reuters reported on April 24 that former Fox News star Tucker Carlson had left the network, days after Fox Corp settled a defamation lawsuit in which Carlson had a key role (here). The TikTok user, whose handle is visible in the video “@tiktalkingschmidt" posted the content with the Carlson caption on April 24. This video predates Tucker Carlson’s exit of Fox.

☆ 10 Things in Tech: Free Apple AirTags, EV resistance, and ChatGPT Plus for all
▼ + stars: | 2023-05-02 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

I attended my first rodeo, woke up early for a farmers' market, visited different pickleball venues, and tried other new things. Researchers examined 1,600 conversations (850 hours and 7 million words total) and measured how people reacted to the interactions. Firstly, IRL conversations involve a degree of back-and-forth that is hard to replicate digitally because of lag and missed cues. Elon Musk pays $10,000 to settle a defamation lawsuit. Elon Musk has cut around 90% of the company within half a year of taking over.

☆ Wall Street's most important workers you've never thought of
▼ + stars: | 2023-05-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

And on Wall Street, where the volume of information continues to rise, application design and user interface is taking center stage. User interface and user experience have long been underappreciated in finance, which is ironic considering the public nature of the work. Read more about Citadel X, the $57 billion hedge fund's user experience and interface team. If you're still trying to understand the collapse of yet another regional bank, we've got you covered. The German bank is building out its investment bank as it eyes a potential return of M&A, the Financial Times reports.

☆ Joe Biden to attend $25,000 per person fundraiser during NYC campaign cash blitz
▼ + stars: | 2023-05-02 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

US President Joe Biden speaks about the creation of new manufacturing jobs at the Washington Hilton in Washington, DC, April 25, 2023. A Biden campaign spokesman declined to comment. An NBC News poll shows 46% of the Republican primary voters support Trump over other declared and potential rivals, including former Florida Gov. The majority of those surveyed said they would prefer that neither Biden nor Trump run for president. Trump and Biden combined to raise almost $2 billion during the 2020 election cycle, according to data from OpenSecrets.

☆ Dubai's stunning skyline shown in surreal, dramatic images
▼ + stars: | 2023-05-01 | by ( Nadia Leigh-Hewitson | ) edition.cnn.com time to read: +3 min

Now, artist Baber Afzal is capturing the city-state’s famous towers and spires in a new light through a series of stunning images that marry architecture, environment, and atmosphere. Afzal, 40, uses a combination of landscape and architectural photography, and visual art techniques, to illustrate the city of Dubai as he sees it. “Awareness of the climatic conditions gave birth to a unique editing style and technique to express my visions.”A Pakistani native, Afzal first started making art in 2007. “I gravitated toward the editing aspect since shifting color and contrast values really fascinated me.”Photographer and visual artist Baber Afzal captures Dubai in a unique light in his ethereal images. He believes that technology will play a significant role in the future of the art scene in Dubai.

☆ NYC to give out 500 Apple AirTags for residents to put in their cars to combat car theft
▼ + stars: | 2023-05-01 | by ( Laura Ly | ) edition.cnn.com time to read: +4 min

CNN —Some Kia, Hyundai, and Honda models are getting stolen in New York City so often that the Mayor is giving out Apple AirTags to help residents track their vehicles. The city plans to distribute 500 AirTags to residents to place in their cars to combat car thefts in target neighborhoods, New York City Mayor Eric Adams announced at a press conference on Sunday. Adams made the announcement in a Bronx neighborhood that has seen over 200 car thefts this year alone – the highest of any precinct in the city. The Hyundai and Kia vehicles in question include the Hyundai Santa Fe and Tucson, and the Kia Forte and Sportage, with 2015-2019 model years. So far this year, the NYPD has recorded thefts of 966 Kia and Hyundai cars – marking an increase of 819 cars since last year, Chell said.

☆ It's JPMorgan to the rescue
▼ + stars: | 2023-05-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

JPMorgan Chase is buying First Republic Bank after it was put into receivership from regulators earlier today. It's the third US bank to fail since March, following Silicon Valley Bank and Signature Bank. The deal represents another chance for JPMorgan Chase CEO Jamie Dimon to come to the rescue. Why its Wall Street rivals could follow suit. Read more on the report in The Wall Street Journal.

☆ Deadly NYC parking garage collapse leads to safety sweep and closure of 4 garages in the city
▼ + stars: | 2023-04-30 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

NYC building officials have inspected 78 buildings so far since the collapse of a three-story parking garage in April. Officials closed four NYC parking structures over safety concerns, AP reported. City building officials said they closed down four parking garages in a safety sweep of about 78 structures, the Associated Press reported. "During our sweep of 78 parking structures, we found four locations where structural concerns necessitated areas of the buildings to be immediately vacated," he added. A 2022 mandate required parking structures to be inspected by owners at least every six years, the AP reported.

☆ I went on MSC Cruises' Meraviglia now sailing year-round from NYC — see what it's like aboard the 5,700-guest vessel
▼ + stars: | 2023-04-28 | by ( Brittany Chang | ) www.businessinsider.com time to read: 1 min

This is the first MSC ship to home port year-round out of New York and one of five vessels currently based in the US. Brittany Chang/InsiderSource: Insider

☆ Morgan Stanley's wealth business just keeps on winning
▼ + stars: | 2023-04-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

It's good to be Morgan Stanley these days. Amid a difficult market for Wall Street banks — thanks in large part to non-existent deal flow — Morgan Stanley's massive wealth business has been paying off big time. But Morgan Stanley's success isn't coming in a vacuum. -Meanwhile, UBS, arguably Morgan Stanley's biggest competitor in the space, was begrudgingly saddled with Credit Suisse's carcass. With wealth advisors, a key part of hiring includes offering "bonuses" that are actually loans.

☆ A 30-year-old tech worker who brings in up to $20,000 in monthly Airbnb revenue from 5 units explains her strategy for renting in expensive NYC and buying in 'undervalued' areas elsewhere.
▼ + stars: | 2023-04-28 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +10 min

When Julia Lemberskiy moved to New York City in 2018, she wanted to buy property. Today, she owns three Airbnb properties that bring in up to $20,000 a month in revenue. Her overall investing strategy is to buy "undervalued properties" in "undervalued areas," which she finds by looking at approved development projects in the community. For starters, the purchase prices in New York City are astronomical. While buying property in New York City was off the table, buying property in general was not, especially once Lemberskiy decided to settle down in the States.

☆ I found it stressful to work from home as a Gen Z account exec. Here's why I'll choose to work in the office every time — even if it costs more to do so.
▼ + stars: | 2023-04-27 | by ( Robin Madell | ) www.businessinsider.com time to read: +5 min

Devin Walsh spends up to 40 minutes commuting to work at least four days each week. I live in Midtown Manhattan and take the subway to our office, which is in the Financial District. Sometimes I go into the office all five days of the week if work is busier. Another added bonus of making the trip into the office is the face-time you get to have with senior leaders. If I work from home on a Friday, I typically fill it with meetings, one-on-ones, brainstorms, and general catch-ups.

☆ Recasting the upcoming GameStop movie: Here's who should play Ken Griffin, Steve Cohen, and the rest of the gang
▼ + stars: | 2023-04-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Wall Street is getting the Hollywood treatment again. - Paul Giamatti as AMC's Adam Aron (This guy knows his way around Wall Street.) For more on the upcoming GameStop movie, including who is set to play the "pot-smoking retail trader," click here. Here's why the rest of Wall Street might be motivated to help First Republic. Meet the new generation of the ultra-rich on Wall Street.

☆ Fanatics moves one step closer to IPO, hiring Meta's head of investor relations
▼ + stars: | 2023-04-27 | by ( Ian Thomas | ) www.cnbc.com time to read: +7 min

While an IPO is not on the immediate horizon, the company is taking a step in the direction of preparing for one, hiring Meta's investor relations head to further build out its engagement with current and future shareholders. Deborah Crawford, who has served as Meta 's vice president of investor relations for more than eight years, is being appointed as Fanatics' head of investor relations, a new position at the company. Prior to Meta, Crawford was head of investor relations for Netflix, where she helped initiate the streaming company's first formal investor relations function, according to Fanatics. Schiffman declined to comment on the potential timing of a Fanatics IPO but confirmed the company has a goal of going public. Fanatics has seen its valuation and investor roster drastically expand in recent years, which has also helped to fuel IPO chatter.

☆ Check out these ultra-realistic masks of Elon Musk, Jeff Bezos, and Mark Zuckerberg that cost $20,000 a piece and a month to make
▼ + stars: | 2023-04-26 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +4 min

Landon Meier is the artist behind realistic masks of tech figures like Elon Musk and Mark Zuckerberg. The digital artist Beeple showed the masks at an event this month during the NFT conference in New York. It seemed the likes of Andy Warhol, Elon Musk, Mark Zuckerberg, Jeff Bezos, and North Korean leader Kim Jong Un had all at once taken the spotlight together. The masks themselves were made by Denver, Colorado-based artist Landon Meier, who meticulously crafts the life-like visages, Beeple tweeted. Landon Meier.

☆ Goldman Sachs M&A team doesn't get out of bed for less than $10 billion
▼ + stars: | 2023-04-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Goldman Sachs' M&A team operates under a similar mandate, albeit with a few more zeros. Why bother stressing over 10 $1 billion deals when you can just do a $10 billion deal? It's not just the M&A market that's facing issues. The bank has held the top spot on the year-end M&A league tables for decades, but it is hearing footsteps. More on Goldman's M&A strategy amid an industry drought.

☆ I left NYC for SC and I'll probably never go back. Here's what the slower pace of life taught me about work-life balance and happiness.
▼ + stars: | 2023-04-25 | by ( Michelle Gross | ) www.businessinsider.com time to read: +7 min

Michelle Gross and her husband left New York City after 14 years and moved to South Carolina. Here's what it's been like to leave New York City in search of a slower way of life in the South. I knew leaving New York City wouldn't be easyGross posing in front of a mini Statue of Liberty in NYC. Living and working remotely in the South has led to a better work-life balanceGross on her dock in Beaufort, South Carolina. Moving to a small town in the South Carolina Lowcountry meant I needed to alter my work and travel habits considerably.

☆ Elon Musk's super-app ambitions might be a fool's errand
▼ + stars: | 2023-04-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Whether it's charging, or not charging, for blue check marks or blowing up mega-rockets, Elon Musk's businesses get plenty of scrutiny. Insider's Paige Hagy looked into Musk's plans around turning Twitter into a super app and spoke to industry experts about the strategy. A super app, or everything app, as Musk calls it, encompasses everything (no duh!) In short, if it's something you can do on your phone, you can do it on a super app. Click here to read more about Elon Musk's plans for creating an everything app.

☆ Where is Goldman Sachs' David Solomon going on those private jets?
▼ + stars: | 2023-04-24 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Insider's Dakin Campbell compiled flight data on Goldman Sachs' two private planes from the beginning of 2022 through March of this year. Much of the focus on Goldman's jets, as Insider has previously reported, has been Solomon's personal use of them. If Goldman and Solomon are playing by the rules, why does it matter? And while I've written before about corporate jets being the scapegoat for excessive spending, that was moreso regarding business travel. Click here for all the details on where Goldman's two private planes have flown since 2022.

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