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☆ Tech's Divorced Dad Energy: Silicon Valley Is Letting Down Customers
▼ + stars: | 2024-08-06 | by ( Ed Zitron | ) www.businessinsider.com time to read: +15 min

Big Tech companies became less known for one particular product. Instead, Big Tech became obsessed with a series of half-baked boondoggles that seemed revolutionary, yet in practice, were either not reliable enough to be trusted or simply not that useful. Big Tech has become sullen, entitled, and lazy, believing that nobody else could snatch away its precious customers. Related storiesEven when tech companies aren't trying to shove AI down our throats, they fall into a similar trap. AdvertisementWhen the public eventually walks out, I don't believe Big Tech is even capable of making the adjustments necessary to win them back.

Persons: Smart, surly, Apple, Meta, Tesla, Elon Musk, Musk, —, Goldman Sachs, Jim Covello, Sundar Pichai, it's, Tech's, Satya Nadella Organizations: Google, Microsoft, Apple, Big Tech, Siri, Amazon, Meta, Tech, Facebook, cryptocurrency, Porsche, Microsoft Windows Locations: America

☆ Elon Musk is helping fuel the flames of far-right rioting on X. An expert says his own platform is radicalizing him.
▼ + stars: | 2024-08-06 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

"A lot of these individuals had been deplatformed, so they wouldn't have had an opportunity to amplify," Van der Linden said. Musk has also claimed that the UK police's response "does seem onesided" — a viewpoint commonly promoted by far-right activists. Van der Linden said Musk might be being radicalized by his own platform. Musk's echo chamber on X is increasingly conspiratorial, Van der Linden added. Representatives for X did not immediately respond to a request for comment from Business Insider, made outside normal working hours.

Persons: —, Axel Muganwa Rudakubana, Elon Musk's, Ali Al, Shakati —, Taylor Swift, Andrew Tate, Sander van der, Tommy Robinson, Stephen Yaxley, Lennon, Tate, Musk, Van der Linden, Downing, Kier Starmer, he's, he's radicalizing Organizations: Service, Business, Facebook, The, University of Cambridge, Twitter, Prime Locations: Britain, South Yorkshire, Cardiff , Wales, Southport, Liverpool, London, Sander van der Linden, Soviet Union

☆ What the Fed must do to soothe markets after a historic global sell-off, according to JPMorgan strategy chief David Kelly
▼ + stars: | 2024-08-06 | by ( Kelly Cloonan | Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Kelly says the Fed needs to broadcast its confidence in the economy to soothe jittery markets. JPMorgan's David Kelly told Business Insider he sees a possibility for even deeper losses following the big rout. We do stand ready to cut rates as appropriate but we don't think there's a very urgent situation here," Kelly said. More importantly, cutting rates abruptly would potentially instill more fear about the economy among investors, Kelly said. And I don't think the Federal Reserve tells people that, or maybe they don't appreciate it themselves," Kelly said, adding, "It's a drag before it's a stimulus."

Persons: Kelly, JPMorgan's David Kelly, —, David Kelly, Monday's, we've, Dow Jones Organizations: Fed, Service, JPMorgan Asset Management, Nasdaq, Nikkei, Reserve Locations: Japan

☆ What Google’s antitrust defeat means for the search giant and its partner Apple
▼ + stars: | 2024-08-06 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

The antitrust ruling against Google may not be the lose-lose scenario for the search giant and its key partner Apple that some are predicting. At the heart of the case is Google's exclusive relationship with device makers to be the default search engine on their screens. Google paid Apple $20 billion in 2022 alone for the privilege, according to recent court documents. AAPL YTD mountain Apple (AAPL) year-to-date performance "By collateral damage of course, this is negative for Apple," Jim said. Bank of America analysts tried to assuage Apple investors' concerns around services revenues.

Persons: Sherman, Kent Walker, Walker, Jim Cramer, Jim, —, Jim Cramer's, Jason Alden Organizations: Google, Apple, Barclays, Firefox, Yahoo, Bank of America, CNBC, Bloomberg, Getty Locations: U.S

☆ These 4 groups of borrowers will qualify for Biden's next round of student loan forgiveness
▼ + stars: | 2024-08-06 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

The Department is still working out the details of the plan, and will notify eligible borrowers soon. "Once these rules are finalized, 30 million Americans will get to benefit and experience the life-changing impact of student debt cancellation," said Aissa Canchola Bañez, policy director at the Student Borrower Protection Center. These are the four groups who stand to benefit from partial or full debt relief, if the plan survives the inevitable next round of lawsuits. Many student loan borrowers aren't aware of the relief options available to them, such as income-driven repayment plans and the Public Service Loan Forgiveness program, consumer advocates say. The Education Department says it will look into when those underlying loans initially entered repayment.

Persons: Joe Biden, Irfan Khan, Biden, Joe Biden's, Canchola, haven't Organizations: Los Angeles Times, Getty, Education Department, Student, Protection, Department, Public Locations: Culver City , California

☆ Simone Biles' career shows why putting your mental health first can pay off in the end
▼ + stars: | 2024-08-06 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +6 min

Many will remember, however, that Biles faced a very different battle during the last Olympics: her mental health. Related stories"What some people don't know is that not treating your mental health can lead to different conditions," she said. However, mental health leave isn't accessible for many Americans. Goehner said that most companies do not allow paid mental health leave without written permission from a healthcare professional. However, she said, small, incremental lifestyle changes can improve mental health in the workplace.

Persons: —, Simone Biles, She's, she's, Biles, Covid —, belittled, shouldn't, JD Vance, Janna Koretz, Ana Goehner, Simone, Goehner, Andy Cheung, Koretz Organizations: Service, Olympics, Business, NBC, Workers Locations: American

☆ You can pull $1,000 from your retirement savings penalty-free—but don't make it a habit, says retirement expert
▼ + stars: | 2024-08-06 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

The majority of Americans wouldn't be able to cover an unforeseen $1,000 expense with money from their own savings, according to Bankrate's 2024 emergency savings report. Generally, you'll face a 10% penalty for withdrawing money from retirement savings before you reach the age of 59½. For one, you can only make one $1,000 withdrawal per year. But if you don't replace that amount in your retirement account in full or through regular deposits within three years, you won't be able to make another $1,000 withdrawal during that repayment period. And you'll need to self-certify in writing with your retirement plan administrator that you need the money for an emergency.

Persons: wouldn't, Anne Lester, FOMO, Lester

☆ The S&P 500 is down 7.5%—but if you're worried about it, 'you shouldn't own stocks,' says Warren Buffett
▼ + stars: | 2024-08-05 | by ( Ryan Ermey | ) www.cnbc.com time to read: +1 min

U.S. stocks fell sharply Monday as part of a global selloff fueled by mounting recession fears among investors. Further roiling global markets is unusual currency trading out of Japan. The S&P 500 — a measure of the broad U.S. stock market — was down about 2% in early trading, putting it 7.5% below the index's all-time high close on July 16. In fact, you'd be wise to ignore short-term ups and downs in the stock market altogether — at least according to Buffett. "If you're worried about corrections, you shouldn't own stocks," Buffett said in a 2015 interview with The Street.

Persons: Warren Buffett, Berkshire Hathaway, you'd, Buffett Organizations: Federal Reserve, Berkshire, Apple, Treasury Locations: Japan, Omaha

☆ What to do if you catch your employee on a quiet vacation, according to an HR exec
▼ + stars: | 2024-08-05 | by ( Ashley Couto | ) www.businessinsider.com time to read: +6 min

Read previewQuiet vacationing — employees secretly taking time off or using tools to circumvent monitoring software — is rising. This story is available exclusively to Business Insider subscribers. AdvertisementBusiness Insider has previously reported on employees using mouse jigglers and other methods to take secret vacations or work multiple jobs at once. Related stories"What does it say if an employee feels they can't take an extra day vacation or have to sneak out to go on vacation? Employees should have clear goals and objectives, and companies should measure employee performance based on those metrics, according to Church.

Persons: —, Nolan Church, JP Morgan, aren't, Church, wasn't Organizations: Service, Business, Amazon, Church, Microsoft, Church . Church Locations: Church

☆ 'House of the Dragon' director says she 'couldn't sleep' thinking about how to film Daemon's game-changing finale vision
▼ + stars: | 2024-08-05 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +13 min

By the season finale, Alicent Hightower (Olivia Cooke) knows that she has no allies left in King's Landing. "Every time I'm in a scene like Rhaenyra and Alicent, I'm thinking about the war zone," she said. Matt Smith and Emma D'Arcy as Daemon and Rhaenyra Targaryen in the season two finale of "House of the Dragon." AdvertisementDaenerys Targaryen briefly appears in Daemon's vision in the season two finale of "House of the Dragon." What I love about the way Sara particularly wrote the season finale is that she grounded it in relationships.

Persons: Alicent Hightower, Olivia Cooke, Emma D'Arcy, Alicent, Rhaenyra, It's, —, Geeta Vasant Patel, Patel, Daenerys —, Matt Smith, Daemon, Liam Daniel, HBO You've, Emma, Olivia, Ryan, Sara, Hess, HBO Olivia, Catherine Goldschmidt, Ollie Upton, they'd, I'm, you've, Daemon Targaryen, Sarah, I've, there's, Matt, Daenerys Targaryen, Prince, Daenerys Organizations: Service, HBO Locations: King's, Rhaenyra, Harrenhal

☆ China's city dwellers will soon have more pets than toddlers, and there's one way investors can cash in on the trend, Goldman Sachs says
▼ + stars: | 2024-08-05 | by ( Kwan Wei Kevin Tan | Aditi Bharade | ) www.businessinsider.com time to read: +6 min

Read previewChina's baby bust could see its urban pet population outnumbering the number of toddlers by 2030, investment bank Goldman Sachs wrote in a July 28 report. According to Goldman Sachs' forecasts, China will have more than 70 million urban pets by 2030. AdvertisementThe rise in pet ownership, the bank said, could help push China's pet food market to $12 billion by 2030. People having more pets than babies shouldn't be surprising considering how China is presently grappling with a demographic crisis. China's population shrank again in 2023, with the number of deaths exceeding the number of births by 2.08 million people.

Persons: —, Goldman Sachs, Lin Zhang, Zhang, Zheng Mu, Zheng, Cash, haven't, Bihan Chen, Emily Huang, Huang, Ann, Hunter van Kirk Organizations: Service, Business, country's National Bureau of Statistics, University of New, Zhang, National University of Singapore, National Association of Realtors, NAR, Bloomberg Intelligence Locations: China, country's, University of New Hampshire, Europe, East Asia

☆ AI won't kill your computer science degree, professors say
▼ + stars: | 2024-08-05 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

Read previewGetting a computer science degree used to be a stable path for any college student looking to secure a tech job right after graduation. And if that wasn't enough, computer science majors don't just have to compete amongst themselves, they need to watch out for AI too. Computer science professors that BI spoke to said that earning a degree in the field is just as, if not more, valuable in the age of AI. Related storiesThis, Kan said, is because computer science isn't so much about coding as it is an approach to solving problems. AdvertisementDavid Malan, a computer science professor at Harvard, told BI that AI won't displace software engineers in the near term and would instead amplify their productivity.

Persons: —, Aditya Swami, Hatcher, Kan Min Yen, Kan, David Malan, Malan, Adrian Goh Organizations: Service, Big Tech, Business, National University of Singapore, Harvard, Engineers, Software Locations: Asia

☆ A former teacher who spent at least $4,000 on her students details what she bought and why educators 'feel a lot of pressure to spend their own money'
▼ + stars: | 2024-08-04 | by ( Madison Hoff | ) www.businessinsider.com time to read: +5 min

In 2022, Amelie Krikorian bought books, rugs, chocolate, paint, flashcards, beads, and more for her students and classroom with her own money. "Teachers who want to make elementary school a positive and enriching experience do feel pressure to spend their own money," she told BI. Krikorian, who has since left the education field, said teachers shouldn't have to spend their own money on their classrooms. And when schools don't supply all the materials, teachers often step up. For enrichment purposes over the years, Krikorian "bought books that enabled the kids to do additional reading about what we were doing in history and science," she said.

Persons: Amelie Krikorian, shouldn't, Krikorian, it's Organizations: Service, Business, Survey, eBay, Walmart, Target Locations: Egypt

☆ The stock market is in no man's land. Here's what investors should expect next
▼ + stars: | 2024-08-04 | by ( Jim Cramer | ) www.cnbc.com time to read: +16 min

Anything above 4% indicates the market is overbought, anything below a minus 5% means the market is oversold.) I am just prematurely predicting other investors fleeing the stock because they think Warren knows more than them. Many investors thought that Amazon was the best set up of the Mag Seven going into earnings. We are right smack in a most perilous moment because the Fed doesn't want to move too fast but the stock market does and the Fed does not care about that. I don't think a presidential election is all that conducive to the market.

Persons: Warren Buffett's Berkshire Hathaway, Apple, Warren, That's, Buffett, Tim Cook, Cook, Carl Icahn, I'd, Donald Trump, don't, Jerome Powell, Meta, It's, Pat Gelsinger, Andy Grove, Gelsinger, Craig Barrett, that's, Pat, Let's, Mark Zuckerberg, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Dow, of America, Apple, Microsoft, Bank of America, Amazon Web Services, Investors, Comcast, Walgreens, CVS, Federal, whimpers, Amazon, Nvidia, Meta, Intel, Lenovo, Dell, HP, CNBC, Jim Cramer's Charitable, Traders, New York Stock Exchange Locations: Friday's, China, —, Wells, U.S, humorless, Taiwan, Brookfield, Arizona, NBCUniversal

☆ Stop Trying to Optimize Everything; Key to Happiness Is Being Average
▼ + stars: | 2024-08-04 | by ( Emily Stewart | ) www.businessinsider.com time to read: +13 min

The laws of capitalism say we have to constantly be on the move — work hard, play hard, consume hard, rinse and repeat. In an age where you're supposed to optimize everything, maybe it's fine to just be … fine. "You really do need to work hard and earn a lot (or inherit a lot) to live in decent material conditions in these contexts," he said. Related storiesAs the old saying goes, money doesn't equal happiness (though I have a hard time believing it doesn't help). "There's a hell of a lot of people who are really going to be normal or average, ordinary.

Persons: Thomas Curran, we're, Curran, Avram Alpert, Alpert, Barry Schwartz, Swarthmore College who's, Schwartz, Nathan Cheek, We're, doesn't, influencers, You've, Taylor Swift, Kelly Goldsmith, Jamie Ducharme, Goldsmith, they've, —, isn't, it's, Beyoncé, Emily Stewart Organizations: London School of Economics, Swarthmore College, Purdue, YouTube, Vanderbilt University, American Psychological Association, Ivy League ., Business Locations: America, Greece

☆ We're Broadway performers who moved from NYC to Colorado Springs to open a gay bar. We love CO Springs' small-town vibe but miss New York.
▼ + stars: | 2024-08-04 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +8 min

During the pandemic, they moved to Colorado Springs, where they opened the city's first gay cocktail bar, ICONS. Josh: I was born and raised in Colorado Springs, but I moved to New York at the age of 22. We could feel the energy growing in Colorado Springs, so we figured it was a smart move. If you told teenage me that a gay bar would be voted best bar in Colorado Springs, I would have said you were crazy. We love, love, love it.

Persons: —, John Wolfe, Josh Franklin, Josh, John, COVID, it's, It's, pushback Josh, I've, Josh Franklin Colorado, Coutesy, We're, I'm, we'll Organizations: Service, Broadway, Business, Brigham Young University, Mormon, Colorado Springs, Denver Locations: New York City, Colorado Springs, New York, West Virginia, Connecticut, Colorado, John, It's

For Love & Money is a weekly Business Insider column answering relationship and money questions. Write to For Love & Money using this Google form. With the right travel rewards credit card, you can earn points that can go towards your next big trip. If you pay off bills with a portion of your inheritance, use your travel card to do it and earn those sign-on bonuses. Then, once you've reached your destination, use your card for all your purchases and allow your travel now to pay for your travel later.

Persons: —, Smart, Justin Rush, Rush, Mona Lisa, you've, it's, That's, doesn't Organizations: Service, TED, Facebook Locations: Tanzania, Fiji

☆ I've lived in Spain for 10 years. Here are 5 hidden-gem locations tourists shouldn't overlook.
▼ + stars: | 2024-08-04 | by ( Esme Fox | ) www.businessinsider.com time to read: +1 min

I've traveled throughout Spain extensively in my 10 years of living there. Spain's most popular destinations have recently experienced protests against mass tourism. Go to newsletter preferences Thanks for signing up! AdvertisementAlthough certain parts of Spain can be overcrowded with tourists, I've found some lesser-visited spots that shouldn't be overlooked. In fact, several destinations in Spain have been in the news recently due to protests against mass tourism, particularly in the Canary Islands and Mallorca.

Persons: I've, — Organizations: Service, Business Locations: Spain, Gata, Central Basque Coast, Canary, Mallorca, Barcelona

☆ I've never wanted kids, and I love my child-free life. I value my independence more than anything.
▼ + stars: | 2024-08-04 | by ( Monique Lindner | ) www.businessinsider.com time to read: +6 min

On top of that, I knew I never wanted children. AdvertisementI don't want kids for a few reasonsThere were a few reasons for my lack of desire to have kids. I just wanted to make the best out of my life through all of the pain, ongoing doctor visits, and uncertainty about my future. One of the women kept asking why I didn't have children, so I explained I never wanted any. She told me I take up valuable space on this planet if I don't have children; I was shocked.

Persons: wasn't, I've, haven't, It's Organizations: Service Locations: Germany, East Germany, Machu Picchu, Rio de Janeiro

☆ 2 recession indicators with perfect track records show the US just entered a downturn — opening the door for stocks to plummet as the Fed gets set to cut rates
▼ + stars: | 2024-08-03 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

AdvertisementSt. Louis FedDespite the Sahm Rule's impressive history, it is sometimes criticized because it fails to account for rising labor participation, which can raise the unemployment rate. In addition to downcast labor market data, the ISM Manufacturing Index fell further into contraction territory this week, signaling that US manufacturing continues to slow. The market's direction also depends on how investors interpret interest rate cuts alongside future data. Fed funds rate futures markets are now pricing in a 50-basis-point cut in September, according to the CME FedWatch Tool. AdvertisementHartnett and his team analyzed Fed rate-cutting cycles and identified three different types of rate cuts — cuts into a soft landing, cuts into a hard landing, and panic cuts, which are due to a credit event or some sort of Wall Street crisis.

Persons: —, Claudia Sahm —, Louis Fed, Piper Sandler, Tom Essaye, Jack McIntyre, Lara Castleton, Janus Henderson, Michael Kantrowitz, we've, Kantrowitz, Michael Hartnett, Hartnett Organizations: Service, Bureau of Labor Statistics, Business, Labor, Brandywine Global, ISM, Nasdaq, Fed, Janus, Janus Henderson Investors, Bank of America, Fund

Mortgage rates are down in response to the labor market slowing. Average 30-year mortgage rates are now hovering in the low 6% range, according to Zillow data, the lowest they've been since January 2024. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. This is a significant slowdown compared when it peaked at 9.1% in 2022, which means mortgage rates should start trending down soon. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: you'll, Fannie Mae Organizations: of Labor Statistics, Federal Reserve, Zillow, Mortgage, Association, Sky Locations: U.S, Chevron

☆ 41 cities for hopeful homebuyers looking for leverage at work as unemployment rises
▼ + stars: | 2024-08-03 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Leading real-estate analyst Ivy Zelman recently told Business Insider that entry-level houses are still about 20% more expensive than normal. While the unemployment rate remains relatively low, it has now risen for four straight months and appears to be accelerating. A higher unemployment rate is a troubling sign for employees, including those who have jobs and aren't looking to leave. In a tight job market, workers can demand higher raises since there aren't as many viable replacements for them if they left. Note that data for the cities is from June — the most current data obtained by Business Insider — while the national data is from July.

Persons: —, shouldn't, Ivy Zelman, Jobs, Realtor.com Organizations: Service, Business, Street Locations: Realtor.com

☆ Why the market's most-regulated companies need military-grade cybersecurity
▼ + stars: | 2024-08-02 | by ( Barbara Booth | ) www.cnbc.com time to read: +8 min

Finance, health care and other regulated industries should consider their specific needs and tailor their defenses with military-grade components, he added. The implementation of military-grade cybersecurity is not without challenges. In 2024, regulated industries have witnessed a significant increase in both the number and cost of data breaches. Frederic Rivain, chief technology officer of Dashlane, holds a contrarian view on the need for military-grade defenses. "Multifactor authentication is important, and you must have it, but you still need to have multiple layers," Two Bears said.

Persons: CrowdStrike, Javad Abed, Abed, shouldn't, Cole, Didi, National Intelligence Avril Haines, Gen, Gary Orenstein, Orenstein, doesn't, Frederic Rivain, Rivain Organizations: Johns Hopkins Carey Business School, Delta Air Lines, Finance, IBM, Ponemon Institute, Bears, Amazon, Data, Verizon, National Intelligence, Employees Locations: ThinkGard, U.S, China, America

☆ S&P 500 to reach 6,000 next year even with latest rotation out of tech, says Janney strategist
▼ + stars: | 2024-08-02 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

The current market rotation into small-cap stocks shouldn't come at the expense of the broader equity rally, according to Mark Luschini, chief investment strategist at Janney Montgomery Scott . In fact, Luschini's call for the S & P 500 is that the index could rise to the 6,000 level in the next 12 months. While some investors have called into question the longevity of the current rotation into small-cap names, Luschini believes that the trend's legitimacy has been proven thus far. But at this point, the lagging sectors have built on the gains they have established in the last several weeks to push the market higher. That said, the strategist emphasized the importance of the technology sector in carrying the S & P 500 to his 6,000 target next year.

Persons: Mark Luschini, Janney Montgomery Scott, Luschini, we've, There's Organizations: CNBC, Luschini Locations: U.S

☆ Tesla's unique approach to sales is giving it headaches
▼ + stars: | 2024-08-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

The big storyFor saleGetty Images; Jenny Chang-Rodriguez/BIOne of Tesla's biggest assets is its willingness to try new things, but its unique approach to sales is also what's giving it headaches. AdvertisementA key issue is Tesla's inability to evolve its sales tactics as the EV market rapidly changes . Business Insider's Grace Kay spoke to more than a dozen current and former employees in Tesla's sales division about how the company has tried to kick-start its sales unit . Not unlike its cars, Tesla's sales approach is innovative compared to the rest of the automotive industry. It's a great strategy when the cars sell themselves — which Teslas did for a while — since you don't need to maintain a traditional sales structure.

Persons: —, Jenny Chang, Rodriguez, It's, Elon Musk, Insider's Grace Kay, There's, Teslas, Justin Sullivan, Fintechs, chatbots, Rebecca Zisser, Goldman Sachs, James Knightley, Andy Jassy, Mike Blake, Chelsea Jia Feng, Venu, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, EV, Tech, Citadel, ING Economics, Big Pharma, Pfizer, Novo Nordisk, Department of Labor, Chevron, ExxonMobil Locations: New York, London

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