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☆ Reddit may be targeting a $5 billion valuation for its upcoming IPO
▼ + stars: | 2024-01-28 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

The success of the IPO is contingent in part on the state of the IPO market, which has struggled in recent years. When Reddit first began preparing to go public in late 2021 — a record-breaking year for venture capital — some thought the company could be valued as high as $15 billion in an IPO. Investors are hoping that 2024 will be a more active year for the IPO market. This year's IPO market may also be helped by the Fed's promised rate cuts and a weak M&A market. The last time a social media company went public was in 2019.

Persons: Reddit, —, IPOs, Klaviyo, Steve Huffman, Alexis Ohanian, Aaron Swartz, Condé Nast, Ohanian, Huffman Organizations: Service, Bloomberg, Business, Investors, University of Virginia

☆ Spotify CEO Daniel Ek says Apple's new App Store changes are a 'new low'
▼ + stars: | 2024-01-27 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Spotify chief executive Daniel Ek is unhappy about Apple's proposed App Store changes . Spotify chief executive Daniel Ek said in an X post on Friday that Apple's changes represent a "new low, even for them." Under Apple's new changes, apps with over one million downloads will need to pay a "core technology fee" for "each first annual install per year." Apple's App Store change not only falls short of that ideal, but "mocks the spirit of the law and the lawmakers who wrote it," Ek said. AdvertisementThe good news for him is that Apple's new changes aren't set in stone until they pass muster with the EU.

Persons: Daniel Ek, Apple's, Apple, Ek, —, — Daniel Ek, he's, doesn't Organizations: Spotify, Service, Apple, Digital, EU, European Union

☆ Elon Musk plans to build a new content moderation center for X in Austin
▼ + stars: | 2024-01-27 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

X aims to hire 100 full-time workers for a new content moderation headquarters in Austin, the company's head of business operations, Joe Benarroch, told Bloomberg. Since he took control of X in October 2022, users have criticized Musk for his no-guardrails approach to the platform's trust and safety operations. After taking over, he quickly axed hundreds of content moderators and employees on the content moderation team — even as advertisers worried about a rise in hate speech on the platform. The plans for the new center also come after Musk tried to prevent a California law that regulates online content moderation. With the lack of content moderation and the rise of questionable posts, X has struggled to grow its advertising revenue.

Persons: —, Elon Musk, Joe Benarroch, Musk's Tesla, hasn't, Benarroch, Musk Organizations: Service, Business, Bloomberg, Austin Locations: Austin, California

☆ Bank of America sends letters threatening 'disciplinary action' to employees who aren't coming into the office
▼ + stars: | 2024-01-24 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Bank of America is issuing warning letters to workers who aren't coming into the office. The bank has been sending letters to correct workplace attendance since late 2023. In its latest effort to herd its employees back to the office, Bank of America has been sending out warning letters it's calling "letters of education" to those who haven't been turning for work. AdvertisementSince October 2022, Bank of America has been requiring the majority of its employees to come into the office at least three days a week. In April of last year, JPMorgan's CEO Jamie Dimon mandated the firm's top executives to come into the office five days a week.

Persons: —, haven't, Jamie Dimon, Goldman Sachs, Morgan Stanley's, James Gorman, Nick Bloom Organizations: of America, Wall, Service, Bank of America, Financial Times, Business, Workers, BI, Stanford

☆ Google is getting worse as it loses its fight against search engine spam
▼ + stars: | 2024-01-21 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

Read previewIt appears to be true: Search engines like Google are getting worse. They spent a year analyzing almost 7,400 of these queries on three search engines: Google, Bing, and DuckDuckGo. Their baseline finding was that search engines have "significant problems" with affiliate links — paid-for links that refer a customer to a seller. While the number of product reviews online that contain affiliate links isn't huge, the researchers said these reviews are overrepresented in search engine results. And as content generated by AI continues to flood the internet, the researchers said search engine results are likely to get worse.

Persons: —, Bevendorff Organizations: Service, Business, Google, Leipzig University Locations: Germany

☆ More tech grads are applying to jobs in Boise, Madison, and other small cities
▼ + stars: | 2024-01-21 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Young workers are applying to cities outside traditional tech hubs, according to a new report. AdvertisementForget Silicon Valley, Austin, or even Miami — young workers are hunting for tech jobs in smaller cities across the country. Handshake determined which US cities saw the biggest increase in job applications between 2021 and 2023, based on the number of full-time job applications submitted on its platform. Tech workers of all ages are gravitating to mid-size cities in search of lower cost of living and a more laid-back lifestyle. Handshake found these 10 cities had the biggest year-over-year increase in job applications on its site:

Persons: —, Handshake's, it's, Christine Cruzvergara Organizations: Service, Google, Big Tech, Tech Locations: Columbia , Maryland, El Paso , Texas, Valley, Austin, Miami, Boise , Idaho, Fairfax , Virginia, California , Washington, New York —

☆ CEO of baby apparel brand Kyte Baby apologizes after denying employee's remote work request while newborn was in NICU
▼ + stars: | 2024-01-20 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +5 min

Kyte Baby denied an employee's request to work remotely to care for her newborn. The Dallas-based baby apparel brand Kyte Baby has been under fire this week for taking a hard line on remote work. AdvertisementThe company agreed to let Hughes work remotely for two weeks to take care of her new baby, Moeller said. Liu herself is a mother of five who launched Kyte Baby after struggling to find baby apparel that would calm her daughter's eczema. She added, "We continue to apologize to both Marissa and our Kyte Baby community for how her maternity leave was handled."

Persons: Kyte Baby, Critics, TikTok, —, Kyte, Marissa Hughes, Ying Liu, TikTok —, Liu, Hughes, Kailee Moeller, Moeller, She's, onesies, Kyte Baby's, Marissa Organizations: Service, Dallas, USA Locations: Dallas, El Paso

☆ Microsoft says Russian hackers attacked it to find information about themselves
▼ + stars: | 2024-01-20 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Microsoft said on Friday that its security systems were breached by a Russian hacking group. Microsoft identified the group as Midnight Blizzard, which was behind the SolarWinds cyberattack. AdvertisementMicrosoft said Friday that its systems were breached by Russian hackers who accessed a "very small percentage" of corporate email accounts. The attack was launched by Midnight Blizzard — the seasoned Russian hacking group behind the massive 2020 attack on US information technology firm SolarWinds, which exposed sensitive information in the US federal government. But federal investigators said they found evidence the hackers accessed Microsoft Office 365.

Persons: — Organizations: Microsoft, Midnight, Service, Midnight Blizzard, Initiative Locations: Russian, China

☆ Even the ultrawealthy had to wait in long lines at Davos — and they were reportedly annoyed about it
▼ + stars: | 2024-01-20 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Davos attendees complained about the long lines they had to wait in, NYT reported. Business Insider was in attendance at Davos, and can confirm there were long lines to enter both the conference's go-to hotel, the Grandhotel Belvédère, and some of the hottest parties. Related storiesAt the Grandhotel Belvédère, the wait times just to enter the building were up to an hour, Dealbook reported. Other guests get orange badges, green badges, purple badges, and so on. But even the most-coveted white badges don't guarantee you can dodge the long lines.

Persons: —, They're, Salesforce, Sting —, Barry Colson, Colson Organizations: NYT, Tech, Service, Economic, The New York Times, Business, Times, Apple Watch, Davos Locations: Davos, The

☆ Samsung's new Galaxy Ring is mostly a mystery — watch the big reveal
▼ + stars: | 2024-01-18 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

Samsung teased a new smart ring called the Galaxy Ring on Wednesday. It's called the "Galaxy Ring" and the company is billing it as a "powerful and accessible health and wellness device." Samsung's new Galaxy Ring will be a health and wellness device for tracking metrics like sleep. And this might not be great news for Oura — Silicon Valley's favorite smart ring manufacturer. You can watch Samsung's big reveal of the Galaxy Ring around the 1:11:00 mark in the video below.

Persons: It's, —, Dr, Matthew Wiggins Organizations: Samsung, Service

☆ There will be record CEO turnover this year, says top PwC boss
▼ + stars: | 2024-01-18 | by ( Lakshmi Varanasi | Cadie Thompson | ) www.businessinsider.com time to read: +4 min

Expect to see a record rate of CEO turnover this year, PwC's Tim Ryan said at Davos. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "We will see more turnover in the C-Suite in the next 12 months than we have ever," Tim Ryan, PwC senior partner, told Business Insider at the World Economic Forum in Davos , Switzerland this week. CEO turnover is already high. AdvertisementCorrection: Thursday, January 18, 2024 — This article has been updated to reflect Tim Ryan's current title, which is senior partner at PwC.

Persons: PwC's Tim Ryan, —, Tim Ryan, PwC, Ryan, you've, You've, isn't, Gray, Chris Licht, GameStop's Matthew Furlong, Jeff Shell, Ron Shaich, Tim Ryan's Organizations: Davos, Service, Economic, NBC, Economic Policy Institute, East Locations: Davos, Switzerland, PwC

☆ If you want a Wall Street job in 2024, JPMorgan could be your best bet
▼ + stars: | 2024-01-17 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

Good news for anyone hoping to land a job on Wall Street: JPMorgan plans to expand its employee ranks this year. JPMorgan — which currently employs around 320,000 people — plans to double down on its core investment areas in retail, payments, and investment banking this year, Pinto said in the interview. JPMorgan's plans for expansion also come on the heels of the most profitable year in its history. Citigroup announced last week that it would be laying off around 20,000 workers over the coming three years as part of a corporate restructuring initiative internally known as "Project Bora Bora." Last year, major investment banks like Goldman Sachs and Morgan Stanley also made staff cuts.

Persons: Daniel Pinto, Pinto, Goldman Sachs, Morgan Stanley Organizations: Service, JPMorgan, Business, Bloomberg, Citigroup, Bora Bora Locations: Swiss, Davos

☆ Once an AI model exhibits 'deceptive behavior' it can be hard to correct, researchers at OpenAI competitor Anthropic found
▼ + stars: | 2024-01-14 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Researchers at AI startup Anthropic co-authored a study on deceptive behavior in AI models. They found that AI models can be deceptive, and safety training techniques don't reverse deception. AdvertisementOnce an AI model learns the tricks of deception it might be hard to retrain it. Training away deceptive behavior could just reinforce itThe researchers also found that the bad behavior was too persistent to be "trained away" through standard safety training techniques. "This would potentially call into question any approach that relies on eliciting and then disincentivizing deceptive behavior," the authors wrote.

Persons: —, Anthropic, chatbot, Claude, they're Organizations: Service

☆ Stanford economist says workers should go to the office at least 3 days a week if they want to compete for a promotion
▼ + stars: | 2024-01-14 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

Stanford economist Nicholas Bloom found hybrid workers can be more successful than fully remote workers. Heading into the office at least "three days a week" is enough to get noticed, Bloom told WSJ. AdvertisementHeading into the office a few days a week could be a way to stay in the good books of your managers, according to Stanford economist Nicholas Bloom. Only 42% of fully remote workers received a promotion in 2023, compared to 54% of hybrid workers and 55% of full-time office workers in a survey of 1,190 full-time employees from Resume Builder. AdvertisementAnd workers who go into the office are also more likely to receive helpful feedback .

Persons: Nicholas Bloom, Bloom, —, Emma Harrington, they're, Harrington Organizations: Service, Stanford, Wall Street, Workers, Fortune, Hoover Institute

☆ You can feel like a birdwatching pro with these AI binoculars that identify birds
▼ + stars: | 2024-01-13 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +1 min

The AX Visio are a pair of AI-powered bird-watching binoculars that were unveiled at CES 2024. The binoculars can identify more than 9,000 types of birds and other wildlife. The binoculars use AI image recognition technology and data from the Merlin Bird ID database to help you easily identify more than 9,000 birds and other wildlife at the click of a button. They rely on a built-in camera that allows the binoculars to identify still or moving images of birds, and you can immediately share the photos and videos you create by pairing the binoculars with a smartphone. This story is available exclusively to Business Insider subscribers.

Persons: Marc Newson, —, Merlin Organizations: CES, Apple, Service, Electronics, Business Locations: Las Vegas

☆ OpenAI eases stance on the use of ChatGPT for military purposes
▼ + stars: | 2024-01-13 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

As part of the update, it eased restrictions on military use of its technology. In an unannounced update to its usage policies on January 10, OpenAI lifted a broad ban on using its technology for "military and warfare." On January 10, OpenAI rolled out its GPT Store , a marketplace for users to share and browse customized versions of ChatGPT known as "GPTs." AdvertisementSome AI experts worry that OpenAI's policy rewrite is too generalized, especially when AI technology is already being used in the conflict in Gaza. The Israeli military said it used AI to pinpoint targets to bomb inside the Palestinian territory.

Persons: —, OpenAI, OpenAI's, Sarah Myers West Organizations: Service, OpenAI, Business, Federal Trade Commission Locations: Gaza

☆ FYI: Kayak lets you exclude the Boeing 737 Max 9 jet from flight search results
▼ + stars: | 2024-01-13 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

Travel booking site Kayak has a feature that lets users filter their searches by aircraft model. Users can use the feature to filter out the Boeing 737 Max 9, which the FAA recently grounded. For example, the travel booking site Kayak has a feature that allows users to filter their searches by aircraft model. Travel booking site Kayak lets users filter searches by aircraft. Other travel booking sites like Expedia and Google Flights often display the aircraft model in the search results.

Persons: —, Max, I'm, Jorge López Organizations: Boeing, FAA, Google, Service, Alaska Airlines, United Airlines, Ethiopian Airlines, Max, Kayak, New York City, Washington Post, BI Locations: United States, Quintana, New York

Companies like Amazon, BlackRock, Nike, Intel, and Citigroup have announced plans for cuts this year. AdvertisementA slew of companies across the tech, media, finance, and retail industries made significant cuts to staff in 2023. Major tech players like Google and Meta, finance giants like Goldman Sachs, and manufacturers like Dow all announced layoffs. Thirty-eight percent of business leaders surveyed by ResumeBuilder think layoffs are likely at their companies in 2024, and around half say their companies will implement a hiring freeze. This story is available exclusively to Business Insider subscribers.

Persons: —, Goldman Sachs, ResumeBuilder Organizations: Amazon, BlackRock, Nike, Intel, Citigroup, Service, Google, Meta, Dow, Business

☆ The 'eye lift' has become one of the most highly requested plastic surgeries in America
▼ + stars: | 2024-01-06 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

The eye lift, also known as a blepharoplasty, is one of the most requested plastic surgeries in the US. The procedure trims back excess skin on the eyelids and helps give the eyes a more youthful look. AdvertisementThere's a plastic surgery procedure on the rise that helps improve the appearance of tired eyes. After nose jobs , eye lifts have become the one of the most requested plastic surgery procedures in the country, according to Vogue. The average cost of a blepharoplasty is $3,339, according to the American Society of Plastic Surgeons .

Persons: —, Carolyn Chang, it's, Dr, David Rosenberg, Lara Devgan, Amanda Bynes, Robert Schwarcz, Chang Organizations: Service, Vogue, American Society of Plastic Surgeons, Cleveland Clinic, TikTok Locations: San Francisco, New York, Francisco

☆ Harvard academic says school needs to stop subscribing to 'the extreme left of the political map'
▼ + stars: | 2024-01-04 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Harvard astrophysicist Avi Loeb weighed in on discussions over the path forward for the university. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementHarvard astrophysicist Avi Loeb has a few ideas on how Harvard should move forward following Claudine Gay's resignation as president . One of those: Stop subscribing to "the extreme left of the political map."

Persons: Avi Loeb, Claudine Gay, —, Claudine Gay's, Loeb, Loeb — who's, He's, Harvard, Alan Garber Organizations: Service, Harvard, Ivy League, University, D.C, Galileo, US President's, Advisors, Science, Technology, Physics, National Academies, Harvard Corporation, Gay Locations: Washington

☆ Machine learning can accurately predict death nearly 80% of the time, a new study found
▼ + stars: | 2023-12-23 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

A new study found that it's possible to make accurate predictions about a person's death using a subset of AI known as machine learning. The dataset includes health records, salary, working hours, residences, and more. Using that data, the researchers created a deep-learning model called "life2vec" to map out detailed sequences of an individual's life events, according to the study. They focused on using individuals between the ages of 30 and 55 — when mortality is harder to predict. Google has also been working on AI technology that can predict a person's death by analyzing health records.

Persons: —, Sune Lehmann, Life2vec, life2vec, that's, Lehmann Organizations: Service, Business, Technical University of Denmark, CNN, Google Locations: Denmark

☆ The eating habits of tech execs: From Mark Zuckerberg's 'kill what you eat' routine to Elon Musk's Diet Coke obsession
▼ + stars: | 2023-12-22 | by ( Grace Kay | Lakshmi Varanasi | ) www.businessinsider.com time to read: 1 min

Some of the richest people in tech have some pretty bizarre eating habits. Elon Musk Gilbert Carrasquillo/GC ImagesJust because billionaires have the money to pay for pricey personal chefs or high-end healthy foods doesn't mean they're adhering to diets that are good for them. While some experiment with the latest health fads —like the Paleo diet and veganism — there are other tech billionaires who enjoy eating chocolate for breakfast or skip eating altogether for days at a time. So when it comes to wealth, you may want to follow the lead of these techies, but think twice when it comes to health.

Persons: Elon Musk Gilbert Carrasquillo

☆ BP ex-CEO loses $40 million over relationships with colleagues
▼ + stars: | 2023-12-14 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

Read previewBP CEO Bernard Looney abruptly resigned in September after the company's board said he hadn't been forthright about past "personal relationships" with colleagues. That could equal around $1.3 million he'll have to repay, The New York Times reported. AdvertisementIn 2022, according to the company's annual report, Looney had total compensation at BP of nearly $13 million, based on current exchange rates. Looney resigned in September 2023. AdvertisementBut in September of this year, the month he resigned, Looney informed the company he hadn't been "fully transparent" in those assurances, BP said.

Persons: —, Bernard Looney, hadn't, Looney, it'd Organizations: Service, Business, Securities and Exchange Commission, New York Times, BP

☆ How Sam Altman's OpenAI drama highlighted the debate splitting Silicon Valley: Are you an e/acc or decel?
▼ + stars: | 2023-12-07 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Read previewSam Altman's brief ousting as OpenAI CEO didn't just thrust the company further into the global spotlight amid reported personality clashes. It's also highlighted a bigger ethical debate in Silicon Valley: how fast companies should move when pushing out AI technology. Broadly speaking, the debate lies in whether you think that moving full-speed ahead on AI technology will save the world or you think the industry needs to slow down. One key Silicon Valley backer of the idea is veteran venture capitalist Marc Andreessen . His advice to Silicon Valley: "I would encourage any watchers of the industry to not get stuck in a divisive set of rhetoric."

Persons: —, Sam Altman's, didn't, It's, Altman, he's, you've, Marc Andreessen, Elon Musk, Peter Thiel, Sam Bankman, Helen Toner, Tasha McCauley, Toner, McCauley, Altman's, EAs —, Sriram Krishnan, Andreessen Horowitz, — Sriram Krishnan, Gaurab Bansal Organizations: Service, Business, acc, EA, Elon, Wall Street Journal, EAs, Labs, US Department of Commerce, Innovation Labs Locations: Silicon Valley, Silicon

☆ Larry Page accused Elon Musk of favoring human species over digital life forms during an argument about the dangers of AI at Musk's 44th birthday
▼ + stars: | 2023-12-03 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Larry Page and Elon Musk argued about AI at Musk's 44th birthday party in 2015. AdvertisementTesla CEO Elon Musk and Google cofounder Larry Page disagree so severely about the dangers of AI it apparently ended their friendship. At Musk's 44th birthday celebration in 2015, Page accused Musk of being a "specieist" who preferred humans over future digital life forms, according to The New York Times . Isaacson wrote that Musk said to Page at the time, "Well, yes, I am pro-human, I fucking like humanity, dude." "The future of AI should not be controlled by Larry," Musk told Hassabis, according to Isaacson's book.

Persons: Larry Page, Elon Musk, Page, Musk, —, Musk's, Talulah Riley, Walter Isaacson, Isaacson, Demis Hassabis, Larry, Sam Altman Organizations: Service, The New York Times, New York Times, Times, Google Locations: British, Napa Valley

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