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☆ I have 6 short-term rental properties. People think real estate is passive income, but I disagree.
▼ + stars: | 2024-10-15 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +8 min

Alongside her partner Philippe, she now has six short-term rental properties. AdvertisementThis as-told-to essay is based on a transcribed conversation with Kerri Gibson, 48, based in Orford, Quebec, about her short-term rental business, Chalets Hygge. Some people consider getting into real estate as a source of passive income, but I wouldn't say it's passive at all. We funded the downpayment through an equity release in the form of a mortgage on our personal home turned short-term rental. Real estate has historically been thought of as passive income, running short-term rentals is not passive.

Persons: Kerri Gibson, Philippe, Gibson, —, I'd, Votre Histoire.co Philippe, We've, COVID, there'll Organizations: Service, Business Locations: Orford , Quebec, Airbnb, CA75,000, CA188,000, Vancouver, Quebec, Montreal, Orford, OTAs

☆ New dating apps and social-networking startups are gaining steam. Read pitch decks 6 used to raise millions of dollars.
▼ + stars: | 2024-10-15 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +3 min

New social-networking and dating startups are coming onto the scene. Here are the pitch decks six startups used while raising Series A and seed rounds. Founders of these startups are tackling problems like loneliness, dating app fatigue, and general dissatisfaction with the current social-media incumbents. Meet 7 VC investors eyeing new social startupsBI spoke with several social-media and dating app founders about how they are raising capital — including the pitch decks they used to raise millions of dollars. Read the pitch decks that helped 6 social-networking and dating startups fundraise millions of dollars:Note: Pitch decks are sorted by investment stage and size of round.

Persons: —, Isabella Epstein's, Tiffany, Daybreak Ventures Rex Woodbury, Catalyst, Mervana Parekh, It's, Marlon Nichols Organizations: Service, IRL, Big Tech, Daybreak Ventures, Business, Tinder, Acrew, Mac Venture

☆ AI labs are fragmenting because of ego clashes and commercial pressures. It's about to drive a wave of new startups.
▼ + stars: | 2024-10-15 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +7 min

There is an impending wave of new startups spinning out of larger AI labs, per Air Street Capital's State of AI report. AI labs are fragmenting due to ego clashes, philosophical disagreements, and commercial pressures. But as AI labs work towards the sector's holy grail, known as artificial general intelligence, those personalities have clashed — sometimes leading to a very public parting of ways. They are just some of the examples in a long line of AI labs that have fractured away from their juggernaut predecessors to form new startups. The exception would be if AI labs pivot toward building a niche model within a specific vertical, he said.

Persons: —, Ilya Sutskever, Andreessen Horowitz, StabilityAI's, H's cofounders, Sam Altman, Noel Hurley, they're, Nathan Benaich, Samir Kumar, Kumar, Peter J, Liu, Hurley, Benaich Organizations: Service, Sequoia, Black, Labs, TechCrunch, Accel, UiPath, NEA, Founders, Air Street Capital, Literal Labs, Touring Capital, Meta, Google Locations: Capital's, Paris, Sutskever

If you travel and you haven't looked at your credit card's transfer partners, you might be missing out. There is no right or wrong way to use points and miles you've earned when you use a credit card, and the options are plentiful. Rewards credit cards allow you to earn points or miles on every purchase rather than giving you cash back immediately. Strategically using credit cards this way is a great way to capitalize on your spending, especially if you love to travel like our family does. My favorite credit cards are the most flexible onesWhile debating what type of credit card to open and use to earn points can be daunting, our family loves using credit cards that give you the most flexibility in redeeming those points.

Persons: haven't, —, you've, I've, Paul into, Paul Organizations: Service, Delta, Venture, Sapphire, Express, Virgin Atlantic, Virgin, KLM Locations: Europe, Minneapolis, St, Paul into Rome, Barcelona

☆ Harris PAC's $1 million contribution from Ripple's Chris Larsen shows crypto industry warming to VP
▼ + stars: | 2024-10-15 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +8 min

In total, Larsen has given around $1.9 million to support Harris' campaign directly and through PACs, according to FEC data compiled by crypto market and blockchain analyst James Delmore and independently verified by CNBC. Nearly half of all the corporate money flowing into the election has come from the crypto industry, according to a recent report from the nonprofit watchdog group Public Citizen. "What we've had to date has been almost like purposeful chaos by Gensler to kind of crush the domestic industry," Larsen said. Horowitz said that he and his wife, Felicia, "have known Vice President Harris for over 10 years and she has been a great friend to both of us during that time." On Monday, the Harris campaign unveiled its "Opportunity Agenda for Black Men" in a report.

Persons: Chris Larsen, Donald Trump's, Chris Larsen isn't, Ripple, Kamala Harris, Larsen, who's, Harris, he's, Biden, " Larsen, isn't, James Delmore, that's, Evelyn Hockstein, Andreessen Horowitz, Trump, keynoted, Josh Shapiro, John Deaton, Massachusetts Republican who's, Democratic Sen, Elizabeth Warren, Nancy Pelosi, Gary Gensler, Brad Garlinghouse, Marvin Ammori, Skybridge Capital's Anthony Scaramucci, Scaramucci, Warren, Ben Horowitz, Marc Andreessen, Horowitz, Felicia, Delmore Organizations: YouTube, White, CNBC, Biden, Democratic, Harris, Fund, Forbes, Public Citizen, U.S, Erie International Airport, Democratic Pennsylvania Gov, Massachusetts Republican, Nancy Pelosi Victory Fund, Biden PAC, SEC, Trump, Ripple, White House, Sen Locations: Bay, Erie , Pennsylvania, U.S, Nashville , Tennessee, Massachusetts, Washington ,, New York

☆ The 'godfather' of driverless cars says Tesla has a major advantage in the self-driving race
▼ + stars: | 2024-10-15 | by ( Hugh Langley | ) www.businessinsider.com time to read: +7 min

Anthony Levandowski, who co-founded Google's Waymo, says Tesla has a huge advantage in data. Musk has promised self-driving Teslas for the better part of a decade. Likewise, Levandowski said he hoped for "a little more steak and less sizzle" on the substance of Tesla's self-driving technology. Related storiesYet perhaps few people understand the nitty-gritty of self-driving tech better than Levandowski. Uber's advantageWhile Tesla and Waymo compete for tech supremacy, Uber might be the frontrunner in the robotaxi race right now.

Persons: Anthony Levandowski, Google's Waymo, Tesla, Levandowski, —, Elon, that's, Musk, Uber, Donald Trump, That's, a16z, Waymo, Dmitri Dolgov, Ben Thompson, Thompson, Levandowki Organizations: Business, Google, Service, Wall Street, Wayve, General Motors Locations: Pronto

☆ A boba business storm is brewing, and a 'Shang-Chi' star is in the middle of it
▼ + stars: | 2024-10-15 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +5 min

"Shang-Chi" star Simu Liu called out two boba tea entrepreneurs who appeared on an episode of "Dragons' Den." They were promoting their new drink, which they said was healthier than regular boba tea. AdvertisementSimu Liu is in the middle of a brewing business feud over a popular Asian drink. When asked if he liked the drink, Liu, who joined the show as a panelist in its 19th season, said, "I thought it was fine." The global boba tea industry — or bubble tea as it is known in Asia — is estimated to be worth billions.

Persons: Liu, —, Chi, Sébastien Fiset, Jess Frenette, Manjit Minhas, there's, Fiset, Bobba, Winniedapoo, boba, Instagram, Frenette, Liu's, it's, Bob Chapek Organizations: Service, Québec, NBC, Ventures, LinkedIn, American Pacific, CBC Gem, Allied Market Research, Business Locations: Markham, Canada, Taiwan, Bobba, Asia —

☆ Trump PAC has raised about $7.5 million in crypto donations since early June
▼ + stars: | 2024-10-15 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +5 min

Adam Gray | Afp | Getty ImagesA political action committee supporting former President Donald Trump has raised about $7.5 million in cryptocurrencies. The PAC said the latest filing covered donations in the period of July 1 through Sept. 30, but numbers included cumulative contributions. At least 18 donors gave more than $5.5 million in bitcoin to Trump 47, the filing shows. Trump said in his keynote that his campaign had raised $25 million from the crypto industry, though he didn't specify the split between digital tokens and dollar donations. Among the new donors is Chase Herro, one of the co-founders of the Trump family's new crypto project World Liberty Financial.

Persons: Eric Trump, Donald Trump, Donald Trump , Jr, Adam Gray, Andreessen Horowitz, Lockheed Martin, David Bailey, bitcoin . Bailey, indoctrinated Trump, Trump, Chase Herro, Mike Belshe, Brian Murray, Craft, David Sacks, Trevor Traina, Bruce Fenton, Gary Cardone, Stuart Alderoty, Alderoty, Sacks, Chris Larsen, Kamala Harris, Forward, Larsen, Gary Gensler, Biden, Marvin Ammori, Tyler, Cameron Winklevoss Organizations: Republican, World Trade, Afp, Getty, Trump, U.S, GOP, PAC, Public Citizen, Lockheed, Duthie Power Services, Esperanza Entertainment, BTC Inc, Liberty Financial, Craft Ventures, Kresus Labs, Chainstone, Cardone Digital Ventures, CNBC, White, SEC, Biden, Harris Locations: New York City, cryptocurrencies, Puerto Rico, bitcoin ., Nashville, bitcoin, XRP, San Francisco, Harris, Bay

☆ Hotel chains are launching ultra-luxury cruise ships. Here's how the newest entrant plans to compete with Four Seasons and Ritz Carlton.
▼ + stars: | 2024-10-15 | by ( Brittany Chang | ) www.businessinsider.com time to read: +1 min

Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The hotel company plans to venture out to sea with its first luxury cruise ship, set to debut in early 2025. Grupo Vidanta's new cruise arm, VidantaWorld, has some luxe promises for its first floating resort. The 500-foot-long vessel, called Elegant, would have amenities like three pools, 13 restaurants and bars, and an almost one-to-one crew-to-guest ratio.

Persons: — Organizations: Grupo Vidanta, Ritz, Service, Grupo Locations: Mexico, Cabos

Sean “Diddy” Combs is facing a series of new civil lawsuits filed in federal court Monday. The incidents alleged in the complaints span from 1995 to 2021 and include allegations of sexual assault and rape. The lawsuits, filed Monday, name Combs and his various businesses as defendants and the accusers are seeking unspecified damages. In a filing ahead of last week’s hearing, attorneys for Combs filed a bail appeal in New York’s federal appeals court. In a statement at the time of the settlement, Combs denied all of the allegations.

Persons: Sean “ Diddy ” Combs, Tony Buzbee —, Combs, Buzbee, “ We’re, ” Buzbee, “, Sean Combs, ”, Cassandra, Cassie ” Venture, Ventura, Dawn Richard, Danity Kane Organizations: NBC News, of, NBC, of New, Metropolitan Detention, CNN, Ventura Locations: Southern, of New York, Manhattan, Texas, York, Brooklyn, New York, New, Los Angeles

☆ Stripe, Wise founders want a 'tech renaissance' in Europe to help region rival Silicon Valley
▼ + stars: | 2024-10-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Founders of some of Europe's largest technology unicorns on Monday backed an open letter calling for a "tech renaissance" fueled by the creation of a single pan-European entity to promote startups and innovation in the bloc. But because of that, our startup scene is fragmented," read the open letter, which was published Monday on a newly created website for the EU Inc initiative. This results in "stifled momentum, unrealized potential, and an artificial limit on our startups' chances of success." So-called 28th regimes are proposed legal frameworks within the EU that offer an alternative to member states' own national rules instead of replacing them. The new structure of EU Inc would "standardize investment processes, simplify cross-border operations, and create a unified employee stock options framework" to help European startups scale rapidly and attract more capital, according to a Monday press release.

Persons: Patrick Collison, Hinrikus, Eléonore Crespo, Ilkka Paananen, Miki Kuusi Organizations: EU Inc, Inc, EU, Wolt Locations: Europe, EU, Finnish

☆ For God, for country, for rain
▼ + stars: | 2024-10-14 | by ( Jessica Lucas | ) www.businessinsider.com time to read: +24 min

It's 9:30 a.m., and Augustus Doricko, the mulleted 24-year-old founder of the cloud-seeding company Rainmaker, is clutching a coffee. There's a long way to go before cloud seeding becomes a viable option for solving one of humanity's many self-made crises. El Segundo, population 17,272, has long been a bastion of American engineering, home to aerospace and defense giants like Boeing and Raytheon. Jett Lara for BIThe burning happens every Friday around 8 p.m. at a bonfire on El Segundo Beach. One of Doricko's goals is to build a church in El Segundo to "share the grace of God with other people."

Persons: Augustus Doricko, Bruno Mars, Doricko, Jessica, I'd, Jesus, He'd, that's, Rainmaker, Lauren Sánchez, Jett Lara, Billy Ray Cyrus, God, Augustus Doricko Doricko's, Cameron Schiller, Augustus, Schiller, El, That's, it's, El Segundo, Elon Musk, Isaiah Taylor, Doricko's, Taylor, Rob Coutts, —, Jesus of Nazareth, Zer, he'd, Jason Flynt, Flynt, Terra, Michael Gibson, Sarah Tessendorf's, messaged Gibson, Michael, Gibson, Thiel, Peter Thiel, I'm, Katja Friedrich, Friedrich, Friedrich isn't, Jonathan Jennings, Kaitlyn Suski, dumbbells, Jackson Schultz, Elijah, birdsong, Schultz, We're, coffees, Mankind Organizations: MGM, Association, Aspen Ideas, Global Initiative, BI, El, Boeing, Raytheon, Space Industries, Chevrolet, Stamford Yacht Club, New Zealand, University of California, BI Doricko, drillers, Terra Seco, Thiel Foundation, Terra, tech's, Weather Locations: Vegas, Tennessee, El Segundo, Los Angeles, America, Silicon, Santa Clarita, Rainmaker, Beijing, Colorado, California, Smoky, El Segundo Beach, North Carolina, Texas, Stamford , Connecticut, New, Costa, Berkeley, Christianity, Fort Worth , Texas, Terra Seco, drawdowns, Lake Mead, Las Vegas, Phoenix, Juul, Fresno, San Jose, Dubai, UAE, Midwest, West Texas, New Mexico , Arizona , Nevada, Amsterdam, Milan

☆ Singaporeans are used to paying less than $5 for a meal. This 30-year-old chef charges double, and diners keep coming.
▼ + stars: | 2024-10-14 | by ( Erin Liam | ) www.businessinsider.com time to read: +9 min

She went on to open a hawker stall selling prawn noodles, which later expanded into a casual eatery. When Dave Pynt, the chef-owner of Australian-inspired barbecue restaurant Burnt Ends, visited her school for a guest lecture on wood-fire cooking, she was intrigued. Shifting the focus to local cuisineA bowl of prawn noodles costs between SG$14 to SG$20 at Zhup Zhup. A hawker stall seemed like the perfect sandbox to test her ideas without spending a lot on overhead costs. The challenges of running a hawker businessThree years in, the hawker stall had just managed to earn back its capital.

Persons: Gwyneth Ang, Ang, —, she's, Erin Liam, Dave Pynt, hawker, Erin Liam So, pao, Darren Ang, Pynt, Erin Liam Singapore's, Teo Kay Key, Cherry Tan, Shanice Lim, nasi, Lim Organizations: Michelin, Service, Business, Culinary Institute of America, hawker, Department of Statistics, Institute of Policy Studies, National University of Singapore, Singapore Airlines Locations: Singapore, New Bahru, hawker, Macpherson, Pynt

☆ AI coding startups are becoming a hotspot for VCs. Here are the 12 copilots that have landed funding from funds like a16z, Lightspeed, and Menlo Ventures.
▼ + stars: | 2024-10-14 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +2 min

VCs are investing in generative AI coding and copilot startups. AI coding tools automate coding tasks, allowing developers to focus on creativity. BI has identified which startups in the space have so far raised the most funding from VCs. AdvertisementThe AI revolution shows no signs of slowing down, and some VCs are turning their attention to a new corner of the market: generative AI coding and copilot startups. "I'm really high on AI coding assistants," Menlo Ventures partner Tim Tully recently told Business Insider.

Persons: —, Tim Tully, Kanu Gulati, PitchBook, Elad Gil Organizations: Service, Menlo Ventures, Business, Khosla Ventures, Lightspeed Venture Partners Locations: VCs, Korbit, PitchBook

Actor Simu Liu blasted a pair of Quebec entrepreneurs last week who went on Canada’s version of “Shark Tank” to pitch a drink they say has “transformed” boba tea. Sébastien Fiset and Jess Frenette, founders of a bottled popping boba and alcoholic bubble tea brand called Bobba, were seeking $1 million in exchange for 18% of the company. Their products include cans of alcoholic bubble tea, as well as grab-and-go packets of popping boba. “Dragons, you have probably heard about bubble tea,” Frenette said before Liu quickly interjected with a sarcastic: “I’ve never, has anyone else heard of bubble tea? Not everything has to be traditional.”Fiset responded by saying Bobba’s popping boba makes the drink “not an ethnical product anymore.” Minhas agreed that the popping boba was new, saying she’d never experienced it.

Persons: Simu Liu, Sébastien Fiset, Jess Frenette, CBC’s, ”, Fiset, boba, ” Fiset, Liu, Bobba, “, ” Liu, Let’s, “ Barbie, Frenette, ” Frenette, I’ve, Manjit Minhas, ” Minhas, she’d, Brian Scudamore, ” didn’t Organizations: Bobba’s, Ventures, Bobba Locations: Quebec, —, Canadian, Fiset, Taiwan, Markham, Bobba

☆ Canadian drink company tastes controversy after Simu Liu raises cultural appropriation questions
▼ + stars: | 2024-10-13 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +4 min

CNN —Controversy bubbled for a Canadian drink company after its founders drew the ire of a Marvel superhero on an episode of a “Shark Tank”-style reality series. On a recent episode of CBC’s “Dragons’ Den,” actor Simu Liu appeared as a guest star and prospective investor. The owners of a Quebec-based bubble tea brand called Bobba were featured, seeking funding to grow their brand. Bubble tea is a Taiwanese tea-based drink with tapioca balls that has risen in popularity in recent years. The friction between Liu and Bobba owners Sebastien Fiset and Jess Frenette was visible early in their pitch.

Persons: CBC’s, Simu Liu, Liu, Sebastien Fiset, Jess Frenette, ” Liu, ”, Frenette, Fiset, “, boba, Den, Manjit Minhas, Bobba, Liu “, Frenette’s, Minhas Organizations: CNN, Marvel, Sunday Locations: Canadian, Quebec, Taiwan, Canada, “, Bobba

☆ South Fork Wind offers a glimpse at what's possible as offshore wind power projects struggle to gain traction
▼ + stars: | 2024-10-13 | by ( Pippa Stevens | ) www.cnbc.com time to read: +9 min

Soren Lassen, head of offshore wind research at Wood Mackenzie, said the U.S. offshore wind industry is going through a needed readjustment, and that while the long-term outlook remains intact, progress has been pushed out. South Fork Wind offers tangible evidence that wind projects can work. The company developed the five-turbine Block Island Wind Farm, which is northwest of South Fork Wind, in 2016. The Bureau of Ocean Energy Management first awarded the leases for South Fork Wind in 2013, which where acquired by Deepwater Wind. In September, Skyborn Renewables, a Global Infrastructure Partners portfolio company, acquired Eversource's 50% stake in both South Fork Wind and Revolution Wind.

Persons: Pippa Stevens, Soren Lassen, Wood Mackenzie, –, Orsted, David Hardy, Equinor, Jones, Biden, Avangrid, Wood Mackenzie's Lassen, Lassen Organizations: CNBC GREENPORT, U.S, Wind, CNBC, of Ocean Energy Management, Deepwater, Eversource Energy, Skyborn, Global Infrastructure Partners, CNBC Offshore, Power Authority, Ørsted, New, BP, Dominion Energy, South Brooklyn Marine, Fork, The U.S . Department of, Interior, Maryland –, GE Vernova, American Clean Locations: –, Montauk , New York, U.S, Greenport , New York, East Hampton, East Hampton , New York, Wainscott, Denmark, New York, Atlantic City , New Jersey, New Jersey, Brownsville , Texas, Virginia, Port of Virginia, Connecticut's, of New London, South Carolina , Texas, Rhode Island and Connecticut, The, Maryland, Martha's Vineyard, Nantucket , Massachusetts, Nantucket

☆ A basic income program funded by descendants of slave owners provides $1,000 a month as a form of reparations
▼ + stars: | 2024-10-13 | by ( Katie Balevic | ) www.businessinsider.com time to read: +7 min

Buck and Gracie Close are funding a basic income program for victims of unjust policing. They view the program as a form of reparations for their family's history as slave owners. Small-scale guaranteed basic income programs have sprouted around the country in recent years, inspired in part by the success of pandemic-era cash handouts. These basic income programs offer unrestricted cash payments to specific groups of vulnerable low-income residents for a limited time period. The programs differ from a universal basic income, which would offer regular cash payments to all residents regardless of their financial status.

Persons: Buck, Gracie, —, Buck Close, they've, Maggy Baccinelli, Baccinelli, enslavers Organizations: ACLU, Service, American Civil Liberties Union of Louisiana, Confederate, Herald Locations: Louisiana, North Carolina, Washington, Fort Mills, Rock, South Carolina

☆ Vance says ‘childless cat ladies’ comment was ‘dumb’ but his point stands
▼ + stars: | 2024-10-12 | by ( Kit Maher | Eric Bradner | ) edition.cnn.com time to read: +6 min

Not to have kids because of concerns over climate change? I think the more bizarre thing is our leadership, who encourages young women, and frankly young men, to think about it that way,” Vance said. Vance also claimed a new “pathological frustration with children” exists in American society, citing negative reactions to children on public transportation or restaurants as an example. We want to preserve the right of the states to make these decisions,” Vance said. He added: “I’m OK with the states making these decisions, even if they make decisions that JD Vance or Donald Trump might not make.”

Persons: Vance, Donald Trump, —, “, ” Vance, Tucker Carlson, Kamala Harris, ”, ‘, Carlson, Harris, Alexandria Ocasio, Pete Buttigieg, she’s, ’ Vance, Michael Brown, I’ve, Sophia Nelson, he’d, I’m, ’ ” Vance, Roe, Donald Trump’s, mistrusted, we’ve, Trump, JD Vance Organizations: CNN, Republican, The New York Times, Democratic Party, New York Rep, New York Times, Republicans Locations: Ohio, Alexandria, Cortez, San Francisco, India, California, Alabama

☆ I moved from Sweden to the US. I've found Americans to be friendlier and I enjoy the work hustle.
▼ + stars: | 2024-10-11 | by ( Jane Ridley | ) www.businessinsider.com time to read: +5 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . I was researching a master's thesis as part of my degree in my native Sweden and lived in New York for a year. I had a great job in Sweden — I was a strategic business developer in the IT department of a global company — and loved my boss. But after traveling a lot and then moving abroad, I've changed a lot. I feel like I've outgrown Sweden, and it's almost claustrophobic for me to go back.

Persons: Olivia Tapper, —, Thomas, Sweden —, I've Organizations: Service, America, Business Locations: Scandinavia, Austin , Texas, Sweden, New York, Europe, Austin, Rome, Stockholm

☆ Satya Nadella reportedly calls 2 different CEOs every day — and has 2 favorite questions
▼ + stars: | 2024-10-11 | by ( Jaures Yip | Tim Paradis | ) www.businessinsider.com time to read: +4 min

Microsoft's CEO likes to schedule daily calls with CEOs to expand his network, The Information reported. Satya Nadella's networking reportedly includes leaders from AI but also non-tech industries. AdvertisementSatya Nadella's daily routine consists of waking up at 7 a.m., practicing mindfulness exercises, and, in a new twist, apparently making multiple phone calls to different CEOs. The Microsoft CEO reportedly asks staff to set up two calls a day with other executives of various companies, according to a new report from The Information detailing Nadella's networking strategies. Nadella, who reportedly remained in close contact with Suleyman for several years, eventually hired him to head up Microsoft AI.

Persons: Satya Nadella's, —, Satya, Aravind Srinivas, Pete Carroll, Sam Altman, Rebecca Arnold, Root, Arnold, Nadella, Mustafa Suleyman, Suleyman, There's Organizations: Service, Microsoft, Seattle Seahawks, Consulting, UAE Locations: Nadella

☆ Prosecutors seek years in prison for Trump Media insider trading Shvartsman brothers
▼ + stars: | 2024-10-11 | by ( Dan Mangan | ) www.cnbc.com time to read: +7 min

Michael Shvartsman, 53, was born in Ukraine when it was part of the Soviet Union. "Mr. Shvartsman has paid a steep price for his insider trading," those lawyers wrote. "Altogether, Shvartsman exhibits a troubling pattern of acting as though he were above the law," prosecutors wrote. "The defendant is a wealthy, successful businessman," prosecutors wrote about Gerald Shvartsman, who is a married father of two children. Roland Riopelle, a lawyer for Gerald Shvartsman, is asking Liman for a sentence with no prison time.

Persons: Michael Shvartsman, Amr Alfiky, Gerald Shvartsman, Lewis Liman, Bruce Garelick, Garelick, Michael Shvartsman's, Donald Trump —, Donald Trump, Jim Watson, DWAC, Alan Futerfas, Dennis Vacco, Judge Liman, Shvartsman, Prosecutors, Roland Riopelle, Liman, Riopelle Organizations: Manhattan Federal Court, Reuters Prosecutors, New, Trump Media, Prosecutors, Soviet Union, Reuters, Rocket, Digital, Republican, Afp, Getty, Trump, Manhattan U.S, Attorney's Locations: Manhattan, New York City, U.S, New York, Florida, Ukraine, Soviet, Italy, Toronto, Canada, Michael Shvartsman's Miami, DWAC, Butler , Pennsylvania

☆ OpenAI's AI-adjusted earnings numbers have echoes of Groupon and WeWork
▼ + stars: | 2024-10-11 | by ( Alistair Barr | ) www.businessinsider.com time to read: +6 min

Is it OK for an AI company to exclude the cost of training its AI models when it reports earnings? Related storiesFor an AI company like OpenAI, training models will be an ongoing process. The world is constantly evolving, and new data is being generated, which will have to be incorporated into AI models' understanding. Let's call it "AI adjusted earnings" for an AI company. They are a private company," McKenna said.

Persons: we've, Francine McKenna, McKenna, OpenAI, It's, Groupon, WeWork Organizations: Google, Facebook, MarketWatch, Revenue, Big Tech, KPMG Consulting, SAP, Oracle, Securities, Exchange Commission, SEC Locations: It's

Valued at $4 billion in 2021, Cerebras is reportedly seeking to roughly double that in its IPO. The customer, G42, is backed by Microsoft , and it's entirely responsible for the $1.43 billion purchase commitment. G42 can pick up $500 million more in Cerebras shares if it commits to spend $5 billion on the company's computing clusters. The major Wall Street banks, for their part, are finding other ways to play in the burgeoning AI infrastructure market. Fitch, who said he sold out of his Nvidia stock years ago, told CNBC that the benefits outweigh the risks.

Persons: Andrew Feldman, Ramsey Cardy, Cerebras, —, David Golden, it's, prepayment, CFIUS, Mike Gallagher, Gina Raimondo, Goldman Sachs, Morgan Stanley, JPMorgan Chase, Young, There's, Peter Thiel, Eva Marie Uzcategui, there's, Thiel, Jim Fitch, Fitch, Feldman Organizations: Cerebras Systems, Nvidia, Revolution Ventures, JPMorgan Chase, Microsoft, AstraZeneca, GlaxoSmithKline, Mayo Clinic, Treasury, Foreign Investment, Reuters, Chinese Communist Party, JPMorgan, Citigroup, Barclays, BDO, KPMG, Deloitte, Ernst, Riverstone Networks, CoreWeave, Clarium Capital Management LLC, Bloomberg, Getty, Mizuho Securities, Venture, CNBC, Devices Locations: Toronto, U.S, Sunnyvale , California, Abu Dhabi, China, Miami , Florida, Los Angeles, Florida

☆ Wealthy jet setters are flocking to these unexpected countries, travel agents say
▼ + stars: | 2024-10-11 | by ( Brittany Chang | ) www.businessinsider.com time to read: +8 min

Wealthy travelers are vacationing at a mix of traditional and emerging destinations. The Asian countries wealthy travelers are increasingly visitingLuxury travel companies are expecting more travelers to visit Thailand following the premiere of "The White Lotus" season three, shot at Four Seasons Resort Koh Samui. Ken SeetAccording to Virtuoso, bookings for summer trips to Thailand were up 95% from 2023 to 2024. According to Virtuoso, summer bookings for the central European country were up 24%. More wealthy travelers are heading to Porto, Portugal proslgn/ShutterstockOr, for a greener, chillier getaway, head to the United Kingdom and Ireland.

Persons: —, What's, Ken Seet, Belles, Peter Zelei, Melissa Krueger, Quintessentially, Kelly Grumbach, Brian Kennedy, George Rose, Lucia, Virtuoso, Jim Krane, Barthélemy, Barts, Hurricane Irma, Grumbach, Saint Barthélemy, Holger Leue, Aman Organizations: Service, globetrotters, Eiffel, Belles, Ireland, Banff National Park, St, AP Locations: Rome, Paris, Thailand, Slovenia, United Kingdom, London, France, China, Canada, New York, Europe, Japan, Khao Villas Phuket, Maui, Hawaii, Taormina, Italy, Florence, Tuscany, Portugal, Lisbon, Porto, Ireland, Scotland, Banff, Lake Louise, Columbia, Dominican Republic, Hurricane, Saint, Caribbean, Anguilla

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