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Nvidia CEO Jensen Huang doubled down on his vision for "AI employees" in a recent interview. The CEO said he believes AI agents will be specialized and rented out by other companies. Nvidia CEO Jensen Huang recently talked about why he thinks we'll all be working alongside "AI employees" eventually. "There's no question we're gonna have AI employees of all kinds," Huang told the podcast "No Priors" in an episode published Thursday. The Nvidia CEO said that while this will change some jobs, it will also help secure employment.
Persons: Jensen Huang, Huang, , we'll, they're, Eric Yuan, Yuan, Sundar Pichai Organizations: Nvidia, Service, Wired, AIs, Slack, Cadence
Business Insider spoke with three high-earners who left their six-figure jobs to save their mental health. It wasn't until his boss seriously questioned his work output that Yu made a pledge to himself to quit tech. Yu quit his job after brainstorming alternative income streams with his then-girlfriend (who became his fiancé), Wanda, and settling on house hacking. A year after quitting, he shared that his mental health improved, and he was ready to reenter the workforce. If you quit your job due to mental health concerns and would like to tell your story, email Tess Martinelli at tmartinelli@businessinsider.com.
Persons: , Jean Kang, Kang, she'd, Eric Yu, Long, Yu, Wanda, He's, Tess Martinelli Organizations: Service, Business, Big, Big Tech, Facebook, Meta, McKinsey Locations: Big Tech, tmartinelli@businessinsider.com
Zoom CEO Eric Yuan wants to leverage AI for "digital twins" that can attend meetings. Yuan said AI avatars can eventually handle everyday tasks, shortening workweeks to three or four days. The CEO predicted the tech will cut down on 90% of work, but won't replace in-person interactions. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementZoom's CEO Eric Yuan is ready for a world where your AI clone handles your busy work — and he painted a picture of a life that sounds pretty relaxing.
Persons: Eric Yuan, Yuan, Organizations: Service, Business
Microsoft unbundles, againMicrosoft is separating Teams, its popular video and chat app, from its Office software suite in markets around the world, broadening a split that began in the European Union last fall. It appears to be the latest effort by the software giant to head off investigations by global antitrust enforcers as regulators examine the power of Big Tech. Microsoft first added the video and document collaboration program to its business software suite in 2017, and saw Teams’s popularity soar after the coronavirus pandemic unleashed a boom in hybrid and remote working. At the height of the lockdown in 2020, Slack filed a complaint with the European Commission accusing Microsoft of anticompetitive behavior by bundling Teams with Office. (Three months later, Slack agreed to sell itself to Salesforce for $27.7 billion.)
Persons: Microsoft unbundles, Slack, Eric Yuan Organizations: Microsoft, European Union, Big Tech, Rivals, Commission
Zoom CFO Kelly Steckelberg told CNBC's Jim Cramer on Tuesday that the company is not just a video conferencing platform, saying it has successfully broadened its offerings. The great thing is that Zoom has tools to support them no matter where they are in that work journey." A staple for many during the pandemic, Zoom suffered as more people returned to offices and in-person events. Zoom CEO Eric Yuan lauded the success of the product during the company's conference call, saying it's "broadening the funnel into the Zoom platform." Steckelberg knocked Zoom's primary competitor, Microsoft , suggesting that some may be involuntarily shepherded into using the tech giant's Teams program.
Persons: Kelly Steckelberg, CNBC's Jim Cramer, they've, Steckelberg, Eric Yuan, we're Organizations: Broadcom, Diageo, Contact, Microsoft
Zoom shares rose as much as 13% in extended trading on Monday after the video chat software vendor announced fiscal fourth-quarter results that topped analysts' expectations. Analysts surveyed by LSEG were looking for $1.13 in adjusted earnings per share and $1.13 billion in revenue. For the 2025 fiscal year, Zoom sees $4.85 to $4.88 in adjusted earnings per share, with $4.60 billion in revenue, implying 1.7% revenue growth. The LSEG consensus was adjusted earnings of $4.71 per share and revenue of $4.65 billion. Before the jump, Zoom shares were down 12% so far this year, while the S&P 500 stock index had gained 6% over the same period.
Persons: Eric Yuan, Zoom, Boris Schlossberg Organizations: Zoom Video Communications, Nasdaq, LSEG Locations: New York
Zoom CEO Eric Yuan speaks at the Dropbox Work In Progress Conference in San Francisco on Sept. 25, 2019. Zoom is cutting about 150 jobs, CNBC confirmed on Thursday, the latest tech company to slash headcount this year as investors continue to push for efficiency. A Zoom spokesperson confirmed the cuts amount to less than 2% of the company's workforce. In addition to Zoom, cloud software vendor Okta announced a downsizing on Thursday, telling employees that it's laying off 400 staffers, or about 7% of its workforce. Zoom shares are down about 10% this year and have dropped almost 90% from their record high in October 2020.
Persons: Eric Yuan, Zoom Organizations: Conference, CNBC, Bloomberg, Microsoft, Google, MGM Studios, Okta Locations: San Francisco, layoffs.fyi
Zoom now expects annual adjusted profit per share between $4.93 and $4.95, higher than its prior forecast of $4.63 and $4.67. The company lifted its full-year revenue forecast to between $4.506 billion and $4.511 billion, from $4.485 billion to $4.495 billion earlier. The company's quarterly free cash flow grew 66.2% to $453.2 million, and Zoom expects $1.34 billion to $1.35 billion for the full year. The Phone segment grew to roughly 7 million paid seats while Contact Center reached about 700 customers as of quarter-end. For the third quarter, revenue grew 3.2% to $1.14 billion, slightly above estimates.
Persons: Dado Ruvic, Webex, Eric Yuan, Rishi Jaluria, Samrhitha, Devika Organizations: REUTERS, Communications, RBC, Contact, Thomson Locations: Bengaluru
Insider spoke to five people who left Meta, McKinsey and more on why they left and what they do now. One said he only wishes he left his $120,000-a-year finance job sooner. Lu ultimately made the decision to leave because she wanted to explore and grow in other aspects of her career, but she said leaving McKinsey came with its tradeoffs. Read more: I quit my $370K job at Meta after having panic attacks and hitting the lowest point of my life. Read more: I quit my $120K finance job and make more money with YouTube videos.
Persons: , Vivian Tu, she's, Angelina Lu, Lu, Eric Yu, Meta, pinky, Yu, Read, Elizabeth Rosenberg, Rosenberg, Vincent Chan, Chan Organizations: Meta, McKinsey, Service, JPMorgan, McKinsey & Company, YouTube
Some left behind prestigious roles to pursue their passions, while others quit tech due to burnout. Some left behind their glamorous roles to pursue their passions, and some quit tech due to burnout. Read more: I quit my six-figure tech job because I couldn't work abroad. Mayuko Inoue left her tech job due to panic attacksMayuko Inoue is a former iOS software engineer at Patreon and Netflix. In 2022, he left Meta to start Taro, a community to help other engineers achieve similar career success.
Persons: Meta would've, , Eric Yu, pinky, Yu, Read, Sergio Najera, Najera, I've, Mayuko Inoue, overexerting, Inoue, that's, Michael Lin, Lin, he'd, — he's, Jerry Lee, Lee, Rahul Pandey, Meta, Taro, Pandey, Mitchie Nguyen, Nguyen, Dayana Sabatin, Sabatin, I'm, it's, Jonathan Javier, Javier, It's Organizations: Meta, Service, Netflix, Google, Facebook, LinkedIn, Cisco Locations: Redding , California, San Francisco, Minneapolis, Minnesota, Spain, Morocco, Netherlands, Argentina, Brazil, Chile, Silicon, Europe, Asia, Seattle, Los Angeles
Charlie Munger panned crypto, warned about AI hype, and trumpeted Zoom at Zoomtopia last week. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementCharlie Munger trashed cryptocurrencies, warned the AI buzz seems overblown, and praised Zoom for keeping him connected during his closing keynote at Zoomtopia on October 4. Craig Durr, research director at The Futurum Group:"Munger shared his seasoned perspective on crypto and AI – both of which he was skeptical about. He said communications help drive business, and business success is about focus and consistency.
Persons: Charlie Munger, Warren Buffett's, , Eric Yuan, hasn't, Zoom, Tobi Tungl, Craig Durr, Munger, Eric Yuen, Mark Friedler, Warren Buffett, Eric Kunnen, Charlie, Melody Brue, doesn't, Eric, David Maldow Organizations: Service, Berkshire Hathaway's, CTI, Grand Valley State University, Moor Locations: Zoomtopia, cryptocurrencies, Grand
Eric Yu is a former software engineer at Meta who experienced panic attacks due to work pressure. AdvertisementAdvertisementThis as-told-to essay is based on a conversation with Eric Yu, a 28-year-old former software engineer at Meta. We decided we needed exit plans, because neither of us wanted to work in tech for that much longer. I even set a personal goal to quit Meta once I was making $10,000 a month from real estate. If you left your big tech job and would like to share your story, email Aria Yang at ayang@insider.com.
Persons: Eric Yu, , Wanda, Eric Yu I, pinky, Meta, I've, there's, learnings, Eric, Wanda brainstormed, Aria Yang Organizations: Meta, Service, Google, Facebook Locations: San Francisco, Redding , California, ayang@insider.com
Eric Yuan, CEO of Zoom Video Communications walks on the street as he takes part in a bell ringing ceremony at the NASDAQ MarketSite in New York, New York, U.S., April 18, 2019. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsSept 7 (Reuters) - Zoom Video Communications (ZM.O) has met with regulators from the United States, European Union and other jurisdictions to outline concerns about Microsoft's (MSFT.O) alleged anti-competitive behavior, Bloomberg News reported on Thursday. Zoom had expressed its concerns about the way Microsoft has given preference to its chat and video app Teams through price bundling and product design, the report added. "If you have unfair competition, you may not win," Zoom CEO Eric Yuan said, while answering a question at the Goldman Sachs Communications & Technology conference on Tuesday. FTC declined to comment, while Zoom and Microsoft did not immediately respond to Reuters requests for comment.
Persons: Eric Yuan, Carlo Allegri, Zoom, Granth, Shailesh Organizations: Zoom Video Communications, NASDAQ, REUTERS, Communications, European, Bloomberg, U.S . Federal Trade Commission, EU, Microsoft, Goldman Sachs Communications, Technology, European Union, Salesforce, Thomson Locations: New York , New York, U.S, United States, European Union, Germany, Bengaluru
AdvertisementAdvertisementThe Meta CEO told staff they could expect him to spend half of the next year working remotely. True to his word, in his first week Musk banned remote work in a 2:30 a.m email to Twitter staff. Still: Unlike some of the other wealthy CEOs on this list, Eric Yuan has always been a little skeptical of permanent remote work. Roy RochlinSalesforce CEO Marc Benioff was initially outspoken in his support for remote working. Joining the growing list of CEOs that say remote work is not conducive to productivity, Salesforce revised its work-from-anywhere strategy.
Persons: Mark Zuckerberg, Goldman Sachs, Prithwiraj Choudhury, Zuckerberg, Meta, I've, Erin Scott, Skip, Insider's Kali Hays, Hugh Langley, Evan Spiegel, Miranda Kerr, Pierre Mouton, Stringer, Spiegel, I'm, ERIC PIERMONT, Kali Hays, Jack Dorsey, PRAKASH SINGH, lockdowns, Dorsey, Elon Musk, Musk, Zoe Schiffer, hasn't, Eric Yuan, Kena, Zoom, Kelly Steckelberg, Yuan, Marc Benioff, Roy Rochlin, Salesforce, Benioff, Justin Sullivan, Kara Swisher Organizations: Service, Meta, Harvard Business School, Wall Street, Staff, CNBC, Getty, Twitter, San, New, Elon, San Francisco, Bloomberg, Zoom, Workers, MarketWatch, Smith, Yahoo Finance, Insider Locations: Wall, Silicon, San Francisco, Singapore, Silicon Valley , California
Zoom execs told employees Workvivo wins 80% of sales versus Microsoft's "clunky" competitor, Viva. Zoom earlier this year acquired the Irish employee engagement platform Workvivo founded in 2017. Microsoft introduced its own, similarly named Viva employee engagement platform in 2021 and earlier this year updated it to include its employee message board Yammer, now called Viva Engage. Workvivo Head of Sales DJ Cahill told employees that when Zoom's product is competing with Microsoft Viva, Workvivo wins 70% to 80% of those sales. Employee engagement software is a relatively young market that combines workplace chat tools with areas for corporate news, employee goal tracking, employee directories and the like.
Persons: Zoom execs, Workvivo, DJ Cahill, Cahill, Eric Yuan, execs, , Yuan, Ashley Stewart Organizations: Microsoft, Viva Engage, Microsoft Viva
He told employees that company culture was Zoom's top issue. He asked employees to "care about our business" as Zoom looks for new ways to jumpstart growth. Zoom CEO Eric Yuan told employees during a recent all-hands meeting that culture is the company's No. 1 problem and wished all the best to anyone who wants to leave, according to a recording viewed by Insider. 1 problem we are facing is company culture," Yuan said, noting many big and successful companies have similar problems.
Persons: Eric Yuan, Yuan, Morgan Stanley's Meta Marshall
Goldman Sachs is ramping up efforts to make staff return to the office five days a week. "We have continued to encourage employees to work in the office five days a week." Speaking about the return to office, CEO Eric Yuan told employees earlier this month that relying on video calls prevented employees from building trust and limited their innovation. The mandate aims to help workers "foster healthy relationships and strong collaboration," the company told workers in an email. Businesses urging workers to return say that in-person working cultivates a more open company culture and creates more opportunities for collaboration.
Persons: Goldman Sachs, who've, Jacqueline Arthur, Zoom, Eric Yuan, they'd Organizations: Service, Bloomberg, Meta, Employees Locations: Wall, Silicon
Earlier this month, Zoom told employees it would send some workers back to the office regularly. Zoom CEO Eric Yuan said remote work didn't allow people to build as much trust or be as innovative. Zoom, one of the main enablers and beneficiaries of remote work, told employees living within 50 miles of a Zoom office that they must work there at least two days a week. "Over the past several years, we've hired so many new 'Zoomies' that it's really hard to build trust." Meta this week told employees some might lose their jobs if they didn't show up at least three days a week.
Persons: Zoom, Eric Yuan, Yuan, we've, Zoom's Organizations: Amazon
CNN —Shares of Zoom jumped in after-hours trading Monday after the company said it expects to rake in stronger-than-expected earnings in the rest of this fiscal year. The company, which provides video and audio chat services, raised its outlook for profitability for the 2024 fiscal year in its second quarter earnings report. Zoom’s founder and chief executive officer Eric Yuan also touted the company’s rollout of recent AI features on a conference call with investors. However, Zoom’s chief product officer, Smita Hashim, assured customers earlier this month in a blog post that it would not use customer data to train AI models. By putting customers’ privacy needs first, Zoom is taking a leadership position in ensuring customers can use our AI features with confidence that their content is protected,” he said.
Persons: Eric Yuan, Yuan, ” ZoomIQ, Smita Hashim, ” “ Organizations: CNN
Here's how the company did:Earnings: $1.34 per share, adjusted, vs. $1.05 per share as expected by analysts, according to Refinitiv. $1.34 per share, adjusted, vs. $1.05 per share as expected by analysts, according to Refinitiv. Zoom's revenue grew 3.6% year over year in the quarter that ended on July 31, according to a statement. Three months ago Zoom said it was looking for $4.25 to $4.31 in adjusted earnings per share and $4.465 billion to $4.485 billion in revenue. Analysts polled by Refinitiv had predicted that Zoom would produce $4.30 in adjusted earnings per share and $4.49 billion in revenue.
Persons: Eric Yuan, Covid, Refinitiv, Kelly Steckelberg, Steckelberg Organizations: Nasdaq, Management Locations: New York, Refinitiv
“We believe that a structured hybrid approach — meaning employees that live near an office need to be on site two days a week to interact with their teams — is most effective for Zoom,” a company spokesperson said. In 2020, participants in daily Zoom meetings leaped to over 300 million, from 10 million the year before, as it became the most downloaded free iPhone app of the year. In February, amid a wave of layoffs across the tech industry, Zoom cut 15 percent of its staff, or about 1,300 people. The company’s work force had grown more than 275 percent between July 2019 and October 2022. Zoom, like many other tech companies, is still holding on to some flexibility, requiring its employees to come in only on a part-time basis.
Persons: “ We’ll, Eric Yuan, Yuan,
The easiest trade of the year is fizzling, and the lost momentum is keeping investors' money out. "I will not put any more money into stocks until all my losses are recovered," he said. Interviews with a dozen more small investors showed the sentiment to be reasonably widespread. Brokerage account creation, while volatile, likewise dropped off in April after promising momentum in February and March, China Securities Depository and Clearing data showed. "It is as if stocks are losing faith in the China recovery story," said Grow Investment Group chief economist Hong Hao.
The easiest trade of the year is fizzling, and the lost momentum is keeping investors' money out. Interviews with a dozen more small investors showed the sentiment to be reasonably widespread. Brokerage account creation, while volatile, likewise dropped off in April after promising momentum in February and March, China Securities Depository and Clearing data showed. "It is as if stocks are losing faith in the China recovery story," said Grow Investment Group chief economist Hong Hao. China's April industrial output and retail sales growth undershot forecasts as the recovery turned wobbly.
Persons: Eric Yu, Yi Huiman, Hong Hao, Wang Zaizheng, Chi Lo, Hayden Briscoe, Meng, Jason Xue, Winni Zhou, Tom Westbrook, Shri Navaratnam Organizations: China Securities Regulatory, JPMorgan, China Securities Depository, Mutual, Grow Investment Group, Management, UBS Asset Management, Thomson Locations: SHANGHAI, SINGAPORE, China's, Shanghai, China, United States, Hong Kong, Asia, Pacific, Singapore
CEOs of early-stage startups now make, on average, $142,000 — down from $150,000 last year, WSJ reports. CEOs in crypto, e-commerce, and direct-to-consumer industries are most impacted by the pay cuts. In the first quarter of 2023, global venture funding reached $58.6 billion — a 13% drop from the same quarter last year, according to a report from CB Insights, a research firm. CEOs on the losing end of the funding spectrum will feel the brunt of the pay cuts. The consulting firm's findings on salary cuts come as CEOs across major corporations are taking pay cuts this year.
Hong Kong CNN —Binance, the world’s largest cryptocurrency exchange, doesn’t want to be called a Chinese company. “Our opposition in the West bends over backward to paint us as a ‘Chinese company,’” he wrote in a blog post last September. Zhao has been vocal about how he feels his firm is misrepresented as a "Chinese company." The same concern could, in theory, apply to any Chinese company. TikTok CEO Shou Chew testifying before US Congress in March.
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