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☆ The problem with home-flipping giants
▼ + stars: | 2023-03-01 | by ( Aj Latrace | ) www.businessinsider.com time to read: +9 min

Meanwhile, the corporate scalpers of the housing market — companies that buy and relist homes by the thousands without doing much, if any, work on them to make a profit — are struggling. Last week, two of the biggest remaining corporate home-flipping companies, Opendoor and Offerpad, reported dismal earnings, another sign that their business model is incredibly risky. Kelman also said one "problem is that iBuying is a staggering amount of money and risk for a now-uncertain benefit. At its core, the main business model of home-flipping firms doesn't create a ton of immediate value. Opendoor, Offerpad, and other companies that rushed to purchase homes are now discounting the asking prices of those homes to get them off their books.

☆ Kim Jong Un may be prepping his daughter as his successor because he wants a woman in charge to modernize North Korea's image, experts say
▼ + stars: | 2023-02-24 | by ( Tom Porter | ) www.businessinsider.com time to read: +6 min

But it will likely have little impact on the lives of ordinary North Korean women. North Korean leader Kim Jong Un and his sister Kim Yo Jong attend a meeting with South Korean President Moon Jae-in on April 27, 2018. "Kim Jong Un is a feminist — at least if judged by the incredibly low standards of North Korea," Andrei Lankov, a North Korea expert recently wrote for NK News. North Korean leader Kim Jong Un talks with his daughter Kim Ju Ae at a banquet in Pyongyang, North Korea February 7, 2023. "Discrimination against women and girls in North Korea is widespread and is accepted as a natural part of everyday life in North Korea," said Joon.

☆ Putin wanted to boast about Russia launching a nuclear-capable ICBM — but the launch failed so he couldn't, report says
▼ + stars: | 2023-02-22 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

A recent Russian test launch of its Sarmat missile appears to have failed, two US officials told CNN. But Putin didn't mention the Sarmat launch in his annual speech, his first since invading Ukraine. The Kremlin tipped off the US in advance about the planned test launch using deconfliction channels, one of the unnamed officials told the outlet. Footage from a prior Sarmat test launch. Russia's most recent notable test launch of the Sarmat missile was in April, just after its invasion of Ukraine began.

☆ A fat cat has become the top-rated tourist attraction in a Polish city with a perfect 5-star average on Google Maps
▼ + stars: | 2023-02-19 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +2 min

A black-and-white cat named Gacek is the top-rated tourist attraction in Szczecin, Poland. The fat feline has a perfect five-star rating on Google Maps. Gacek has a perfect five-star rating on Google Maps. The rotund feline has beaten out Szczecin's other tourist hotspots, including a Pomeranian Dukes' Castle built in 1346. A local animal shelter has urged visitors not to feed Gacek, per Gazeta.pl.

☆ Childbirth is far more dangerous for women than the abortion pill, American Medical Association tells the Texas judge weighing mifepristone ban
▼ + stars: | 2023-02-16 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +5 min

The American Medical Association is urging a Texas judge to reject an effort to ban mifepristone. This is not an opinion — it is a fact based on hundreds of medical studies and vast amounts of data amassed over the course of two decades," the brief states. But pregnant teenagers, the medical groups note, have levels of progesterone far greater than their non-pregnant peers. "There is no reason to think, nor is there evidence to show, that preventing the absorption of progesterone for a brief window would have any effects on adolescent development," the brief states. Republican attorneys general also submitted a brief arguing that the availability of the drug infringes on the right of states to regulate abortion.

☆ Google didn't think its Bard AI was 'really ready' for a product yet, says Alphabet chairman, days after the chatbot's very public mistake tanked the company's stock
▼ + stars: | 2023-02-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

John Hennessy, the chairman of Alphabet, said Google was hesitant to use its Bard AI in a product as it wasn't "really ready," per CNBC. Google unveiled its Bard AI last week amid intense interest in competitor ChatGPT. But a promo for Google Bard featured a factual error — which sent Alphabet's stock down 9% in a day. Google unveiled Bard amid intense interest in rival chatbot ChatGPT, and just a day before Microsoft rolled out its AI-powered Bing search engine which is built using technology from OpenAI, the parent of ChatGPT. At the conference, Hennessy declined to comment specifically on the public's reaction to Google's Bard, per CNBC.

☆ American drivers have a blinding headlight problem. It could last for years.
▼ + stars: | 2023-02-13 | by ( Madison Hall | ) www.businessinsider.com time to read: +6 min

Drivers say they're routinely getting blinded by surrounding cars' headlights. This isn't because headlight regulations have changed — regulations on brightness haven't been altered in decades. This isn't because headlight regulations have shifted — they haven't changed in decades, according to Greg Brannon, AAA's director of automotive engineering. Adaptive driving beams automatically adjust the high beams emitted from LED car headlights in real time to avoid blinding pedestrians and other drivers. So prepare for the immediate future to be even brighter, as the blinding glare problem may get worse before it gets better.

☆ Russian state energy giant Gazprom is starting its own private security force, a move Ukraine fears will lead to a new Wagner-like mercenary army
▼ + stars: | 2023-02-08 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

Russia's government is allowing energy giant Gazprom to start a private security outfit. Ukraine's Ministry of Defence drew comparisons with the notorious private army the Wagner Group. Experts said it's plausible that another Russian mercenary army is in the works. Russia's government gave its go-ahead for the energy giant to create a private security organization on February 4, under the pretext of securing the country's energy sector. "Ukrainians are handling Wagner, they are handling the Russian army."

☆ DeSantis echoes Trump in latest offense against the media after taunting the former president during live TV roundtable
▼ + stars: | 2023-02-07 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +9 min

Ron DeSantis won't be the Republican to give the party's response to President Joe Biden's forthcoming State of the Union Address. The broadcast echoed the media ire former President Donald Trump frequently has on display. "To assassinate someone's character with anonymous sources would have been a total no-no," DeSantis said of past media practice. Like Trump, DeSantis often bemoans his media coverage and excoriates what he calls the "corporate press." Despite raising his tussles with the press, DeSantis insisted non-politicians would be the focus of new libel laws.

☆ Biden to take aim at junk fees in Competition Council meeting Wednesday
▼ + stars: | 2023-02-01 | by ( Dj Judd | ) edition.cnn.com time to read: +3 min

CNN —President Joe Biden is slated to announce new progress on his administration’s “competition agenda” during the fourth meeting of the Presidential Competition Council on Wednesday, taking steps to slash junk fees while calling on Congress to pass legislation targeting hidden and exorbitant fees across the travel, entertainment, utility and hospitality industries. Rohit Chopra, director of the Consumer Financial Protection Bureau, said Biden will announce that the CFPB will propose a rule slashing excessive credit card late fees in a move the White House says will reduce those fees from $30 to $8 on average, saving American consumers as much as $9 billion a year. “Over a decade ago, Congress banned excessive credit card late fees, but companies have exploited a regulatory loophole that has allowed them to escape scrutiny for charging an otherwise illegal junk fee,” Chopra said in a statement to CNN. “Today’s proposed rule seeks to save families billions of dollars and ensure the credit card market is fair and competitive.”On a call with reporters Tuesday, National Economic Council Director Brian Deese said Biden will also use the meeting to call on Congress to pass a “Junk Fee Prevention Act,” targeting four types of excessive fees — excessive online concert, sporting event, and entertainment ticket fees; airline fees for families sitting together on flights; exorbitant early termination fees for TV, phone and internet services; and surprise resort and destination fees. “But they also reduce competition and make it more difficult for innovators and new businesses to break into markets and offer better services at lower prices.”Earlier this year, lawmakers grilled Live Nation president and CFO Joe Berchtold following a ticket sales debacle over exorbitant ticketing fees.

☆ Rivian orders placed after 20% price hike appear to jump the line, angering early order-holders
▼ + stars: | 2023-02-01 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com time to read: +3 min

Some R1S SUV orders placed after March 2022 — when Rivian hiked prices about 20% — are now slated to be filled before less-expensive orders placed earlier, according to customer posts on Twitter and in company forums, and orders reviewed directly by Insider. This is at least the second time Rivian has faced backlash from its early customers over changes to their orders. When Rivian announced the price hike, the move originally included customers with pre-existing configured orders and deposits in place. Now it appears that the orders placed after the price hike are getting priority. That means that quad-motor R1S orders, placed before the price hike, cost less than dual-motor R1S orders placed after it.

☆ Google's testing potential ChatGPT rivals including a homegrown AI chatbot called 'Apprentice Bard': CNBC
▼ + stars: | 2023-02-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Google employees are testing potential ChatGPT rivals — like its own AI chatbot called "Apprentice Bard," per CNBC. Google employees are testing potential challengers to viral AI chatbot ChatGPT — including its homegrown chatbot "Apprentice Bard" — CNBC reported on Tuesday, citing sources and internal communication seen by the publication. Apprentice Bard appears to work in a way that's similar to ChatGPT, as users can ask a question in a dialog box and get an answer in response, per CNBC. In fact, Google's revenue increased by 34% in 2021, and the company's stock price has risen by 70% since January 2022," Apprentice Bard responded, per the media outlet. Other than the Apprentice Bard, Google is also testing other AI-powered products, including a search page.

☆ Arizona throws out one of the first lawsuits seeking to block Biden's student-loan forgiveness
▼ + stars: | 2023-01-23 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

Arizona's new Democratic attorney general dismissed a lawsuit seeking to block student-debt relief. It was the third lawsuit filed that attempted to block the relief, and on Friday, Arizona's new Democratic attorney general Kris Mayes dismissed the case. Mayes took office earlier this month, and she indicated that she would be reviewing whether to continue her predecessor's legal challenge to Biden's broad debt relief. Two other lawsuits succeeded in pausing the implementation of Biden's debt relief, and those cases are now headed to the Supreme Court, which will hear the oral arguments on February 28. One of the lawsuits was filed by six Republican-led states who sued because they argued the debt relief would hurt their states' tax revenues, along with that of student-loan company MOHELA.

☆ The Taliban bought Twitter's $8 a month blue ticks. They appear to have been removed after outrage.
▼ + stars: | 2023-01-18 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The Twitter accounts of at least two Taliban officials were sporting blue ticks on Monday, per the BBC. That sparked an outrage and by Tuesday, the ticks appear to have been removed. The BBC reported Monday that the Twitter accounts of at least two Taliban officials and four well-known supporters of the regime were sporting the checkmarks. It's unclear if Twitter removed the blue badges from the Taliban-linked accounts, or if the account owners unsubscribed from the Twitter Blue service. Twitter Blue is a paid subscription service that charges users for a blue checkmark next to their account names and offers early access to certain features.

☆ 18 movies with valuable entrepreneurial lessons: From 'Startup.com' to 'Becoming Warren Buffett'
▼ + stars: | 2023-01-17 | by ( Vikas Jha | ) www.businessinsider.com time to read: +21 min

Takeaway: This movie shows the effect money, greed and power can have on relationships. "The Social Network" (2010)"The Social Network" shows us that business success requires more than just a great idea. "Becoming Warren Buffett" (2017)In this documentary, Warren Buffett reveals his day-to-day, and his two most important investing rules. Takeaway: This movie shows how two young men were pitted against each other, striving to grow in a cut-throat business. I've found myself feeling motivated after watching a great film with lessons I can transpose to my entrepreneurial journey.

☆ The biggest security pros and cons of using Bluetooth GPS trackers
▼ + stars: | 2023-01-14 | by ( Kaitlin Balasaygun | ) www.cnbc.com time to read: +10 min

Bluetooth tagging devices are catching on, and keeping an eye out on the world in ways never before possible. For pet owners, these GPS devices can be used as a cheaper alternative to microchipping your dog. Here are some basics to know about Bluetooth tags if you're using one already, or considering adding one to your tech-enabled life. "The problem with Bluetooth trackers … is there's no way to prevent a victim from being stalked by one of these devices because they don't control it. Two women recently filed a class-action lawsuit against Apple alleging lack of protections the AirTag has against stalking.

☆ 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."

☆ I asked ChatGPT to write my cover letters. Multiple hiring managers say they would have given me an interview but the letters lacked personality.
▼ + stars: | 2022-12-29 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

An updated version of the AI chatbot, ChatGPT, was recently released to the public. Most of the managers would have given me a screening call but said the letters lacked personality. A new version of an AI chatbot from OpenAI, ChatGPT, has had the internet in a frenzy over the last few weeks. Cover letters, although widely hated, are still one of the more time-consuming requirements for most applications. The letters lacked personalityBoth Willsher and Petry said the letters lacked personality and research about the prospective companies.

☆ 'A lone Trump-appointed judge in Texas' should not have the ability to block student-loan forgiveness for millions of Americans, says a Democratic lawmaker introducing a bill to stop it from happening
▼ + stars: | 2022-12-27 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

His new bill would channel that authority to D.C. courts and the Supreme Court only. "Although the Biden administration has appealed this ruling, its long-overdue student debt relief program will now, at a minimum, be stalled for many months," Jones wrote. Two federal courts have so far succeeded in blocking Biden's plan to cancel up to $20,000 in student debt for federal borrowers. Some Republican lawmakers have lauded those rulings because they have consistently argued Biden does not have the authority to cancel student debt broadly without Congressional approval. Now, the fate of this debt relief rests with the Supreme Court as it will begin to hear arguments on February 28 as to whether Biden can move forward with the loan forgiveness.

☆ Rolex watches have outperformed gold, real estate, and stocks over the past 10 years, and sellers believe their future value will continue to deliver
▼ + stars: | 2022-12-21 | by ( Dominick Reuter | Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Prices for luxury watches like Rolex, Patek Philippe, and Audemars Piguet skyrocketed in 2022. Demand for second-hand luxury watches will likely stay high next year, according to Chrono24 founder Tim Stracke. Around 14% of the platform's sales come from Rolex watches, and 80% of those are pre-owned. "The new programme makes it possible to purchase pre-owned watches that the brand itself has certified and guaranteed. Its aim is to bring added value to the existing supply of pre-owned Rolex watches.

☆ Researchers find new biomorphs hidden within Peru's mysterious Nazca lines
▼ + stars: | 2022-12-20 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +5 min

Japanese researchers and Peruvian archeologists have discovered new geoglyphs in the Nazca lines. A general view shows one of the Nazca lines images found in the Nazca plain as part of research led by Peruvian and Japanese researchers from Yamagata University. A general view shows one of the Nazca lines images found in the Nazca plain as part of research led by Peruvian and Japanese researchers from Yamagata University. A general view shows one of the Nazca lines images found in the Nazca plain as part of research led by Peruvian and Japanese researchers from Yamagata University. A general view shows one of the Nazca lines images found in the Nazca plain as part of research led by Peruvian and Japanese researchers from Yamagata University.

☆ 'Shark Tank' host and FTX investor Kevin O'Leary defends Sam Bankman-Fried for demise of his cryptocurrency exchange
▼ + stars: | 2022-12-17 | by ( Bethany Biron | ) www.businessinsider.com time to read: +3 min

Kevin O'Leary said he previously made $15 million as a brand ambassador for FTX. The "Shark Tank" host testified to the Senate Banking Committee earlier this week about his involvement with the company. O'Leary is among several celebrity defendants listed in a class-action lawsuit from FTX investors. "[New FTX CEO] John Ray doesn't have them yet. In the same interview, O'Leary also defended himself against comments from Binance CEO Changpeng Zhao, who called the "Shark Tank" television host a "liar."

☆ Buzzy clothing brand Something Navy owed an Indian supplier $364,000 — and didn't pay the full balance until we started reporting on it
▼ + stars: | 2022-12-10 | by ( Katie Warren | Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

It only paid one supplier in full right after Insider started reporting a story about delayed payments. According to Warren's correspondence with the supplier, Something Navy paid the remaining $20,000 it owed on Tuesday, just days before Insider's story was published. Murarka finally received the payment in full around the same time the other supplier received his payment, Insider reported. Former Something Navy told Insider that they've been caught in a flood of emails since the spring from suppliers asking about late payments. A Something Navy representative claimed that all outstanding payments referenced in Insider's story were made before Insider provided the company with fact-checks last week.

☆ Fashion brands can't keep up with the latest trends because of supply-chain chaos — and it's one more reason everything's on sale
▼ + stars: | 2022-12-02 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +4 min

Victoria's Secret execs said supply-chain woes meant it couldn't chase trends, adding to the pileup. Brands like Nike, Kohl's, and Ralph Lauren were laser-focused on shaving days and even weeks out of their lead times to be more responsive to consumer preferences. In 2017, Nike was trying to get 60-day lead times down to 10 days. Brands can't chase trends successfully if they lack any semblance of certainty on when goods will arrive — the pandemic certainly stripped that away. Victoria's Secret's chief financial officer, Tim Johnson, said on a Thursday earnings call that the company should regain the supply-chain confidence to chase trends next year.

☆ Chinese stocks rally after the country's top pandemic official signals a softening of the country's draconian Covid-zero stance
▼ + stars: | 2022-12-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Vice Premier Sun Chunlan said China's pandemic is at a "new stage" that comes with new tasks. Sun's words carry weight as she's the face of China's hardline Covid-zero approach. Hong Kong and Chinese stocks are higher on optimism China is eyeing an exit from a Covid-zero policy. Sun's softening on China's draconian Covid-zero stance carries weight because she's seen as the face of the hardline approach. As the world's second-largest economy after the US, China has been under pressure from pandemic restrictions that are into their third year.

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