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☆ Where are Gen Z's tech founders?
▼ + stars: | 2024-10-09 | by ( Amanda Hoover | ) www.businessinsider.com time to read: +10 min

So where are Gen Z's tech founders? Gen Z founders and would-be founders are stepping into a vastly different tech world from that of their predecessors — a world where launching a unicorn is far more difficult, and publicly scrutinized, than it was for the garage-band generation of Jobs and Gates. Gen Z is coming of age in an era when the same Big Tech companies are diffuse and dominant. In other words, millennial founders ran so that Gen Z founders could walk. Perhaps we won't see Gen Z founders standing before a crowd and unveiling their latest shiny products anytime soon.

Persons: Bill Gates, Steve Jobs, Jeff Bezos, Gen X, Sergey Brin, Elon Musk, Travis Kalanick, Peter Thiel, Millennials, I'm, Zuckerberg, Whitney Wolfe Herd, Brian Chesky, Elizabeth Holmes, Sam Bankman, Gen, aren't, Zers, Jerry Neumann, millennials, Uber, Z, There's, Neumann, Kimberly Eddleston, they've, Adam Neumann, Holmes, Alexandra Debow, that's, Alexandr Wang, Wang, They've, Ibrahim Rashid, Rashid didn't, COVID, Rashid, Martin Shkreli, Forbes, Alexis Barreyat, Barreyat, Julian Kage, Kage, they'd, Debow, It's, Eddleston, Emma Chamberlain's Organizations: Boomers, Columbia University, Big Tech, Northeastern University, Facebook, New York University, MIT, Wired, Forbes, University of Chicago, Deloitte, Harvard, Harvard Business Locations: swaggering, Silicon Valley

☆ A top Pepsi exec says he organizes every hour of his day in a color-coded pie chart and audits it to ensure he's efficient
▼ + stars: | 2024-09-24 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +1 min

Pepsi's North America CEO Ram Krishnan says he's "super intentional" about how he spends his time. He told Fortune that he uses a pie chart to split his waking hours between five priorities. 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 . AdvertisementPepsiCo Beverages' North America CEO Ram Krishnan has a hack to fully maximize the 24 hours he has in a day.

Persons: Ram Krishnan, Fortune, —, Fortune's, Krishnan Organizations: North, Service, PepsiCo Beverages, Business

☆ A top-1% fund manager warns Warren Buffett is behaving like he did before the dot-com crash — and says the S&P 500 could see dismal returns for a decade
▼ + stars: | 2024-09-21 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

He's also outperformed the S&P 500 over that time by returning 14% per year on average versus the index's 13.8% annualized gains. Between July and September 1999, Buffett shared his outlook for the market in a series of talks that were summarized by Fortune's Carol Loomis in November of that year. AdvertisementSince then, however, investors have enjoyed 15 years of ultra-low interest rates and growing corporate profits — a fact that has Smead worried. "The only problem is it's a curse on long-term S&P 500 performance," Smead said of the 15-year run. Related storiesBaked into Smead's outlook is an against-consensus view that inflation is set to surge again as the Fed cuts interest rates.

Persons: —, Bill Smead, Warren Buffett, Charlie Munger, Smead, Munger, He's, Buffett, Fortune's Carol Loomis Organizations: Service, Business, Morningstar, Apple, Bank of America

☆ Sequoia's Michael Moritz says Trump's Silicon Valley supporters are making a 'big mistake'
▼ + stars: | 2024-08-05 | by ( Sri Muppidi | ) www.businessinsider.com time to read: +4 min

Read previewWhile some Silicon Valley investors and startup leaders are going red hoping for a more "tech-friendly" White House, Michael Moritz, a storied Sequoia Capital investor, believes that does not reflect the Valley overall. "Fortunately, at least in Silicon Valley, Trump will not prevail," Moritz wrote in a Financial Times opinion piece, which was also posted on LinkedIn. Like the rest of the nation, Silicon Valley is deeply divided over whom to support in the upcoming presidential race. In his piece, Moritz chided Trump supporters in Silicon Valley. Moritz added that Trump had historically not performed well among Silicon Valley voters.

Persons: —, Michael Moritz, Trump, Moritz, Kamala Harris, Donald Trump, Doug Leone, Shaun Maguire, Roelof Botha, Andreessen Horowitz, Marc Andreessen, Ben Horowitz, Fund's Peter Thiel, David Sacks, Chamath, Vance, Sen, JD Vance, Palmer Luckey, Elon Musk, VCs, Kamala, Harris, Vinod Khosla, Reid Hoffman, Mark Cuban, Ron Conway Organizations: Service, Sequoia Capital, LinkedIn, Business, Google, PayPal, Democratic, Republican, Tech, Trump, VR, Bloomberg, PAC, Street Journal, Netflix, Harris, Politico Locations: Silicon Valley, Sequoia, Park City , Utah, Silicon, Palo Alto , California, Newport Beach , California, Washington ,, Francisco, San Jose

☆ BlackRock's COO said he gave his staff a memo written by ChatGPT and they couldn't tell AI wrote it
▼ + stars: | 2024-05-17 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Read previewEmployees at the investment behemoth BlackRock couldn't tell that a strategy memo they were reading was actually written by ChatGPT, the company's COO said on Thursday. BlackRock COO Robert Goldstein recounted the anecdote during an interview with Fortune's Lee Clifford. Goldstein said he'd worked with his team to prepare a memo on the company's generative AI strategy for a board meeting that took place "several months ago." But instead of drafting it themselves, Goldstein decided that the team should get ChatGPT to write the memo instead. Last month, BlackRock CEO Larry Fink said in an earnings call that the company's investments in AI would bolster productivity.

Persons: —, BlackRock, ChatGPT, Robert Goldstein, Fortune's Lee Clifford, Goldstein, he'd, BlackRock didn't, Larry Fink, Fink, Kristalina Georgieva, Georgieva Organizations: Service, BlackRock, Finance, Business, BI, IMF, Swiss Institute of International Studies Locations: New York, BlackRock, Zurich

☆ Fortune's Michal Lev-Ram on politics in the workplace: We're seeing a correction across the board
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFortune's Michal Lev-Ram on politics in the workplace: We're seeing a correction across the boardMichal Lev-Ram, Fortune editor-at-large, joins 'Squawk Box' to discuss the growing tensions across college campuses nationwide, how to handle politics in the workplace, and more.

Persons: Michal Lev, Ram

☆ AI isn't driving tech layoffs — but it does make a good scapegoat
▼ + stars: | 2024-02-21 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Layoffs have been sweeping the tech sector and some are blaming AI. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementFears about AI leading to job cuts are increasingly common, especially as everyday usage of the technology grows. The development was causing anxiety in the ad sales departments, per the report, which later faced a round of job cuts. While AI may not simply replace workers, companies' investment in AI development may be causing cutbacks in other areas.

Persons: —, Duolingo, Hugh Langley, Fortune's Jeremy Kahn Organizations: Service, Bloomberg, Google, Business

☆ Linda Yaccarino is asking X staffers to be 'as fiscally responsible as possible' as advertisers bail from the site
▼ + stars: | 2023-11-21 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

Linda Yaccarino wants employees at X, formerly Twitter, to be more frugal, per Fortune. The platform is facing an exodus of advertisers after owner Elon Musk endorsed an antisemitic post. AdvertisementLinda Yaccarino is tightening the purse strings at X, previously known as Twitter, Fortune reported on Monday. Yaccarino told staff to be "as fiscally responsible as possible" during an all-hands meeting on Monday, Fortune's Kylie Robison reported, citing employees who attended the meeting. X has been facing an exodus of advertisers after Elon Musk, the platform's owner, endorsed an antisemitic post on November 15.

Persons: Linda Yaccarino, Elon Musk, —, Fortune, Yaccarino, Fortune's Kylie Robison, Musk, Ken Paxton Organizations: Service, Elon, IBM, Media Matters, Texas, Business Insider

☆ A woman spending around $108 a month on health expenses is beating out a millionaire who spends $2 million per year in anti-aging 'Rejuvenation Olympics'
▼ + stars: | 2023-11-06 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Julie Clark Gibson is beating Bryan Johnson in the Rejuvenation Olympics by spending far less. The woman told Fortune she mainly spends money on gym and supplement costs. Julie Gibson Clark, a woman who told Fortune her biggest anti-aging expenses total out to around $108 a month, appears to be beating Johnson in the Rejuvenation Olympics. Clark told Fortune she spends $27 per month on a gym membership and pays $79 per month for a NOVOS subscription that gives her access to supplements. Ultimately, Clark told Fortune that healthy habits have to be something that can be easily folded into your daily life.

Persons: Julie Clark Gibson, Bryan Johnson, Fortune, Johnson, —, Millionaire Bryan Johnson, Julie Gibson Clark, Clark, He's, he's, Jeff Bezos, Mark Zuckerberg Organizations: Service

☆ 34-year-old makes $100,000 a year designing shoes—without a bachelor’s degree
▼ + stars: | 2023-11-02 | by ( Morgan Smith | ) www.cnbc.com time to read: +5 min

This story is part of CNBC Make It's Ditching the Degree series, where women who have built six-figure careers without a bachelor's degree reveal the secrets of their success. The Brooklyn native knew she wanted to work in fashion from the time she was old enough to speak. In 2007, just a few weeks after Fortune graduated high school, she enrolled in the Art Institute of New York City's associate's degree program as a fashion design major. Now, Fortune is a head footwear designer at Eastman Footwear Group, where she designs shoes for popular brands like Tretorn, Eddie Bauer and Nicole Miller. She started her first job at Eastman in April 2012, and within a year, transitioned to the footwear design team.

Persons: Krystal Fortune, Fortune, Eddie Bauer, Nicole Miller, Tommy Hilfiger, Krystal Fortune Fortune, it'd, Fortune didn't, Eastman, weren't Organizations: CNBC, Brooklyn, Saks, Art Institute of New, Eastman Footwear Group, Craigslist, New York, Art Institute, Eastman Footwear, Eastman Locations: Art Institute of New York, German, New, New York, Skechers

☆ The CEO of 1-800-Flowers says he got the best business advice from JPMorgan's Jamie Dimon
▼ + stars: | 2023-10-25 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

1-800-Flowers CEO and cofounder Jim McCann says he got the best piece of business advice from JPMorgan's Jamie Dimon. AdvertisementAdvertisementThe boss of flower and gifts company 1-800-Flowers said JPMorgan's Jamie Dimon gave him the best business advice — that he didn't need his employees' buy-in while making decisions. "Jim, you spend way too much of your time evangelizing," Dimon told McCann, per the latter's retelling. They don't all need to get it," Dimon told McCann. Dimon told McCann his team only needed to have faith that McCann understood the value of his product.

Persons: Jim McCann, Jamie Dimon, Dimon, McCann, —, Flowers, JPMorgan's Jamie Dimon, Fortune's Ruth Umoh, Jim, Chris McCann, Jim's, McCann's, David Organizations: Service, CBS, Factory Locations: New York, York, Queens

☆ New X users will have to pay $1 a year just to post on the platform
▼ + stars: | 2023-10-18 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

New users of Elon Musk's X, formerly Twitter, will have to pay a dollar a year to use the platform. Elon Musk previously said that X could roll out a paywall to all its users. AdvertisementAdvertisementElon Musk's X, previously known as Twitter, has started charging new users in New Zealand and the Philippines a $1 annual fee just to use the platform. Existing users would not be affected by the trial, the platform said. Last month, Musk told Israel's prime minister, Benjamin Netanyahu, during a livestream that X might roll out a paywall for all its users.

Persons: Elon Musk's, Elon Musk, —, Fortune's Kylie Robinson, Musk, Benjamin Netanyahu Organizations: Twitter, Service, Bloomberg Locations: New Zealand, Philippines

☆ Splurging on Taylor Swift tickets and a 'funflation' economy is hitting Best Buy's sales, says its CEO
▼ + stars: | 2023-10-16 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

"Funflation" refers to higher consumer demand for fun experiences, which inflates the prices of these experiences. Big ticket items in electronics are drawing less consumer interest than Taylor Swift tickets and other fun experiences, Barry said at a Fortune event. AdvertisementAdvertisementCorie Barry, the CEO of electronics retailer Best Buy, thinks that splurging on Taylor Swift tickets and "funflation" is hurting her company's bottom line. Bloomberg analysts estimated in August that Taylor Swift and Beyoncé's concert tours would add around $5.4 billion to the US economy's GDP. Best Buy and Barry did not immediately respond to requests for comment from Insider, sent outside regular business hours.

Persons: Corie Barry, Taylor Swift, Barry, —, splurging, Brett, Insider's Sirena Bergman Organizations: Service, Bloomberg, Columbia Business School, Bank of America

☆ The CEO of IBM says he doesn't intend to 'get rid of' a single programmer because of AI
▼ + stars: | 2023-10-04 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

IBM CEO Arvind Krishna says he doesn't intend to "get rid of a single one" of his programmers because of AI. He also added that though AI could automate a "repetitive, white-collar job," it was a job creator. AdvertisementAdvertisementAmid growing fears of AI-induced job cuts, IBM's CEO Arvind Krishna says he doesn't intend to lose any programmers because of the technology. Studies have also pointed to AI boosting workers' productivity but with a greater impact on less skilled workers. AdvertisementAdvertisementAn April study that equipped customer service representatives with AI tools found that the lowest-skilled workers saw a productivity boost of 35% — while higher-skilled workers saw "closer to 0%."

Persons: Arvind Krishna, Krishna, —, Goldman Sachs, Satya Nadella — Organizations: Service, Fortune's, Bloomberg, McKinsey, IBM

☆ Elon Musk slams one wealth measure as flawed, as he owns stock in his companies not a 'giant pile of cash'
▼ + stars: | 2023-10-02 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Musk said he isn't raking in cash, but instead owns big stakes in companies he helped to build. "Technically, I 'lose' way more than that every time Tesla stock randomly drops," he added. The value of Musk's Tesla position is calculated by taking the total number of shares he owns and dividing that figure by the company's stock price. Tesla shares have doubled this year and soared more than tenfold within the past four years. For example, Warren Buffett is worth an estimated $117 billion, as he owns $116 billion worth of stock in his Berkshire Hathaway conglomerate.

Persons: Elon Musk, Musk, —, Tesla, Warren Buffett Organizations: SpaceX, Service, Bloomberg, Twitter, Berkshire Hathaway Locations: Berkshire

☆ Chanel's CEO says she's been the 'first woman, the first brown person, the first Asian, the first Indian' in every job – and wants to lift others up
▼ + stars: | 2023-08-29 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Chanel CEO Leena Nair told The Wall Street Journal she's been a trailblazer in every job she's had. The 54-year-old is the luxury fashion retailer's second female boss in its 113-year history. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. The French luxury retailer appointed Leena Nair as only its second female boss in its 113-year history in January 2022. Maureen Chiquet became the Chanel's first female boss when she was appointed as its global CEO in 2007, before she resigning in 2016 due to strategic differences.

Persons: Leena Nair, she's, Nair, Chanel, I've, Pascal Le Segretain, she'd, Maureen Chiquet, Alain Wertheimer Organizations: Wall, Service, Wall Street, Unilever, Chanel Locations: Wall, Silicon, Paris

☆ Elon Musk says he will remove news headlines from X posts so links only show as images, because he thinks it looks better
▼ + stars: | 2023-08-22 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Elon Musk confirmed he'd directed X to remove news headlines from posts, so links only show images. Elon Musk confirmed on Monday night that he'd ordered work on removing news headlines from X posts, so links only display an article's lead image. "This is coming from me directly," Musk wrote on X, responding to an earlier Fortune report that broke the news. An Insider post on X shows the headline alongside a short summary of the story. An X post on the mobile app, showing where a short summary of the article was formerly displayed.

Persons: Elon Musk, he'd, Musk, Elon, hasn't, Andrew Tate, Matt Navarra Organizations: Morning, X

☆ Meta's VP of Metaverse says 'the metaverse hype is dead,' but that's OK
▼ + stars: | 2023-07-13 | by ( Haley Tenore | ) www.businessinsider.com time to read: +4 min

Meta's VP of Metaverse said the hype cycle for the metaverse is dead, but that's okay. The metaverse team can "put their heads down and build" the experiences, Vishal Shah told Fortune. "I think the metaverse hype is dead. People access Meta's metaverse apps through the company's Quest lineup of headsets, but Apple recently announced the $3,499 Vision Pro headset. Interestingly enough, Apple is avoiding the term metaverse in favor of "spatial computing."

Persons: Metaverse, Vishal Shah, Fortune, Shah, Mark Zuckerberg's, Mark Zuckerberg, NOAH BERGER, Zuckerberg, Kali Hays, Ashley Stewart, Meta, Tim Cook, Greg Joswiak, Andrew, Boz, Bosworth Organizations: Morning, Tech, Facebook, Meta, Getty Images, Anadolu Agency, Getty, The Washington Post, Apple, Wall Street Journal Locations: Utah, Menlo

☆ TikTok is dialing up its efforts to dominate in search and it should scare Google
▼ + stars: | 2023-06-13 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +3 min

TikTok is testing a visual-search tool in its shopping tab that could put more pressure on Google. A May analyst report said TikTok may be "the most imminent threat to Google's Search dominance." TikTok is testing a new visual-search tool within its shopping feature that could dial up the pressure on search-giant Google. The short-video app has already become a go-to search engine for Gen Zers looking for restaurants or how to do things, threatening Google's search dominance. "Younger Gen Z users don't have the baggage and memory of opening the browser and searching on Google," he continued.

Persons: Zers, TikTok, Bernstein, Mark Shmulik, ChatGPT, Shmulik, They're, Z, Yelp, Morgan Stanley Organizations: Google, Tech, YouTube, Bloomberg Locations: Asia, TikTok

☆ Twitter's head of trust and safety resigns, becoming the 2nd person to quit the role following Elon Musk's takeover
▼ + stars: | 2023-06-02 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Twitter's head of trust and safety, Ella Irwin, says she's resigned from Twitter. Irwin is Twitter's second trust and safety chief to quit following Musk's takeover. Twitter's head of trust and safety, Ella Irwin, says she's resigned from the company. Irwin is Twitter's second trust and safety chief to quit following Musk's takeover. Her predecessor, Yoel Roth, resigned on November 10, weeks after Musk acquired the company.

Persons: Ella Irwin, she's, Irwin, Slack, Kylie Robison, Irwin's Slack, Elon Musk, Yoel Roth, Musk, Roth, Jordan Peterson, Bari Weiss Organizations: Twitter, Reuters, Fortune, Musk's, Morning, Elon, Bloomberg, LinkedIn, Washington Post Locations: China

☆ Silicon Valley's Hail Mary moment
▼ + stars: | 2023-05-07 | by ( Linette Lopez | ) www.businessinsider.com time to read: +14 min

Silicon Valley has entered the Hail Mary phase of its business cycle — a desertic part of a tech-industry downturn where desperation can turn into recklessness. Don't fear the robotsTo understand the Hail Mary moment, it's important to understand the actual capabilities of technology these tech titans are touting. Again, what Musk is describing is AI general intelligence — something much more advanced than the generative AI OpenAI is building on at the moment. During the pandemic when governments were handing out cash and people were stuck at home, the world bought everything Silicon Valley was selling. But those are exactly the types of workers getting laid off in Silicon Valley right now.

☆ What Home Depot's billion-dollar pay raise may help prove about workers
▼ + stars: | 2023-04-30 | by ( Bob Woods | ) www.cnbc.com time to read: +7 min

"We are confident we can make the investments needed to remain competitive in a tight labor market while also growing our profitability." "The [home improvement] environment seems to be weakening, not accelerating, and therefore incremental wage investments at this time would open the door to more questions and surprise. "They're behaving as they should given the tight labor market, showing leadership and not just thinking about a 12-month timeframe. And in a tight labor market, it's getting increasingly difficult to keep talent [if] you pay unlivable wages and [offer] few opportunities for growth and success." It's hard to say when, and if, Home Depot will see a demonstrable return on the monumental expenditure for its frontline workers.

☆ Target workers reveal the best perks and biggest frustrations of the job
▼ + stars: | 2023-04-17 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +9 min

But as attractive as the incentives may be for new applicants, some Target workers say the daily realities of working for the company can make those perks lose their luster. Most workers who spoke to Insider said that managers often pull them from one task to another to support a lean-staffing model. Joe Raedle / Getty ImagesAdditionally, all the workers Insider spoke with agreed that the company's interest in tracking metrics on activities from restocking and repricing to drive-up-order fulfillment can increase the pressure on workers. The company's benefits website says hourly workers' benefit eligibility is reviewed annually and averaged over the prior twelve months. A majority of the sources Insider spoke with said a big reason they sought a job at Target was that they love shopping there — and they still do.

☆ ChatGPT's 5-part strategy for balancing your portfolio
▼ + stars: | 2023-02-20 | by ( Dave Smith | ) www.businessinsider.com time to read: +2 min

I'm a deputy editor at Insider who helps oversee our newsletters, but I've worn plenty of hats around here. Phil and the rest of the newsletter squad are off today, but here are six (not 10 today, sorry!) A stock trader built his strategy into real software. ChatGPT's 5-part strategy for balancing a portfolio. OpenAI's buzzy chatbot is everywhere these days, so why not put it in charge of your investing strategy?

☆ Meta's chief business officer will leave the company after 13 years
▼ + stars: | 2023-02-13 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Marne Levine, vice president of global partnerships and business development for Facebook Inc., speaks during the Fortune's Most Powerful Women Summit in Washington, D.C., U.S., on Wednesday, Oct. 23, 2019. Meta 's Chief Business Officer Marne Levine is stepping down after 13 years with the company, Meta announced in a release Monday. Levine previously served as vice president of global public policy at Facebook, chief operating officer at Instagram and vice president of global partnerships, business and corporate development at Facebook. Levine was named Facebook's chief business officer in the summer of 2021, a few months before it changed its name to Meta to indicate its focus on the yet-to-be-developed metaverse. "I'm grateful for our partnership, her commitment to Meta, and the energy she brought to the company every day."

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