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☆ Watch out Hong Kong – India's stock market is fast catching up
▼ + stars: | 2023-12-06 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

India's stock market hit a $4 trillion valuation for the first time on Tuesday, per Bloomberg. It's narrowing the gap with Hong Kong, the world's fourth-largest stock market. AdvertisementThe value of companies listed on India's stock exchanges hit $4 trillion for the first time on Tuesday – narrowing the gap with Hong Kong, Bloomberg reported. Hong Kong is the world's fourth-largest stock market, but is now worth less than $4.7 trillion following an 18% slide in the Hang Seng Index this year. The Indian market was worth less than $1.5 trillion in pandemic-affected 2020, according to Bloomberg, but has since made significant gains.

Persons: —, Narendra Modi, Sanjeev, Sharekhan, Goldman Sachs Organizations: Bloomberg, Service, Reuters, IMF, Apple Locations: Hong Kong, India, China, Japan

☆ A 1976 check signed by Steve Jobs to Radio Shack is set to fetch more than $20,000 at an auction
▼ + stars: | 2023-12-05 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

A 1976 check to Radio Shack signed by Steve Jobs is expected to sell for more than $20,000. Radio Shack is intertwined with Apple's creation story, per Jobs' biography. AdvertisementA check signed by Steve Jobs to Radio Shack for $4.01 is set to fetch more than $20,000 at an auction. Apple was founded in April 1976, about three months before this check was signed by Jobs as Steven, rather than Steve. Another check for $175 signed by Jobs was sold by RR Auction for more than $100,000 in May.

Persons: Steve Jobs, Jobs, —, Steven, Steve Wozniak, Wozniak, Walter Isaacson Organizations: Radio Shack, Service, Apple, Apple Computer Company, Jobs, Shack

☆ Spotify is being hammered for wrapping 2023 with big layoffs just before Christmas
▼ + stars: | 2023-12-05 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

Users on X are mocking the company's timing with its signature Spotify Wrapped style. "That puts you in the top 3% of biggest layoffs this year from a tech company," one user quipped. The layoffs come despite Spotify reporting its first quarterly profit in a year in October — and less than a month before the Christmas holidays. That puts you in the top 3% of biggest layoffs this year from a tech company," wrote Roshan Patel on a post titled "Daniel Ek's Spotify Wrapped." Another X user, @digi_chad42069, shared a video mocking the timing of the layoffs: "2023 was a feast for your shareholders.

Persons: —, Daniel Ek, Daniel Ek's, — Roshan Patel, Roshan Patel, Daniel, ike, uros Organizations: Spotify, Service Locations: —

☆ AI experts are roasting the NYT list of 'who's who' in AI for having zero women
▼ + stars: | 2023-12-04 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +4 min

The New York Times list of "who's who" in AI has been slammed for featuring zero women. "Godmother of AI" Fei-Fei Li criticized the list, writing, "It's not about me, but all of us in AI." AdvertisementThe New York Times' profile of "who's who" in AI, published Sunday, has drawn criticism for featuring zero women. "You literally erased all the heavy hitting women of AI and but included people who are more 'influencers,'" wrote Daneshjou. AdvertisementThe New York Times did not immediately respond to a request for comment from Business Insider, sent outside regular business hours.

Persons: Fei, Fei Li, —, Kara Swisher, Li, It’s, recup, asha, Dane, Wale, ari, Hass, Hoff, lon Musk Organizations: New York Times, Service, ust, ctu, rit, emi Locations: usk

☆ KISS says their future concerts will be performed by 'forever young' digital avatars
▼ + stars: | 2023-12-04 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

KISS ended the last live show of their 50-year career by revealing their digital avatars. The digital avatars drew a mixed reception from fans online. But it wasn't an official curtain call, as the band announced their act would live on through "forever young" digital avatars. "We can be forever young and forever iconic by taking us to places we've never dreamed of before," said KISS bassist Gene Simmons, 74, in a separate announcement video published Saturday. The two companies were also behind ABBA's virtual concert, which put digital avatars of the band onstage in May 2022.

Persons: Per, —, we've, Gene Simmons, Paul, George Lucas, ABBA's Björn Ulvaeus, Khudwx7cud Organizations: KISS, Service, Madison, Industrial, Pophouse Entertainment, Associated Press, Twitter, Bloomberg Locations: New York

☆ Bill Ackman thinks we should all be grateful Elon Musk bought Twitter
▼ + stars: | 2023-12-01 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Bill Ackman thinks advertisers, including Disney, are treating Elon Musk's X unfairly. Ackman defended Musk, saying the X owner did not have "antisemitic intent." Until a share of X can be distributed to each American, Ackman thinks should be grateful Musk owns X. AdvertisementOnce again, hedge fund manager Bill Ackman is defending Elon Musk and his leadership of X. AdvertisementIn his post, Ackman again defended Musk, saying the X owner did not have "antisemitic intent."

Persons: Bill Ackman, Elon Musk's, Ackman, Musk, —, Elon Musk, that's, @andrewrsorkin, @tiktok_us @instagram, Rtrv4WgEoK, Bob Iger, Instagram Organizations: Disney, Service, Elon, Apple, IBM, Media, New York Times, Facebook, Defamation League, Center, Musk, Business

☆ ChatGPT just turned one, and even some OpenAI employees can't believe the way its first year has played out
▼ + stars: | 2023-12-01 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

When it was first launched, OpenAI leaders framed it as a "low-key research preview." AdvertisementChatGPT turned one today, and if you're surprised by its impact, you're not alone — so are some OpenAI employees. Today, the term "low-key research preview" has become something of a meme among OpenAI's employees. OpenAI employees have even used the phrase as laptop stickers, per the Atlantic. "The outside world probably thinks we're all joking, but this actually was our 'low-key research preview,'" wrote Fedus.

Persons: ChatGPT, —, OpenAI, Google's Bard, Goldman Sachs, Greg Brockman, William Fedus Organizations: Service, UBS, Meta, Bloomberg

☆ Bob Iger says Disney made too many sequels but he won't apologize for making them
▼ + stars: | 2023-11-30 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Quantity has diluted quality at Disney, CEO Bob Iger says. "I don't want to apologize for making sequels," he said. AdvertisementDisney CEO Bob Iger delivered a candid critique of his company during an interview at The New York Times DealBook Summit on Wednesday. And quantity, in our case, diluted quality, and Marvel has suffered greatly from that," Iger said. AdvertisementIn November 2022, Iger emerged from retirement to return to Disney as its CEO, a position he had previously held for 15 years.

Persons: Bob Iger, —, Iger, they've, Bob Chapek Organizations: Disney, Service, The New York Times, Summit, Marvel Locations: Kingdom, Disney's

☆ An old quote where Anthony Bourdain called Henry Kissinger a 'murderous scumbag' is making the rounds on X
▼ + stars: | 2023-11-30 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Anthony Bourdain despised Henry Kissinger, and called him a "murderous scumbag" in his 2001 book. Screenshots of Bourdain's words are now making the rounds on X after Kissinger's death. AdvertisementThe late celebrity chef Anthony Bourdain was famously unfiltered, and didn't mince any words when writing about former Secretary of State Henry Kissinger. AdvertisementAfter Kissinger's death on Wednesday, Bourdain's words are now making the rounds on X, formerly known as Twitter. "Once you've been to Cambodia, you'll never stop wanting to beat Henry Kissinger to death with your bare hands."

Persons: Anthony Bourdain, Henry Kissinger, — Bourdain, —, you've, you'll, Bourdain, Kissinger, Slobodan Milošević, Anthony Bourdain pic.twitter.com, NtEu4YMOW7 Organizations: Service Locations: Cambodia, Serbian

☆ Bob Iger says Disney needs a reality check about box office success
▼ + stars: | 2023-11-30 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

"We got to the point where if a film didn't do a billion dollars in global box office, we were disappointed," he said. Iger also blamed Disney putting quantity before quality for its box office misses. In response to questions about the company's box office misses, the CEO said: "I'm not sure another studio will ever achieve some of the numbers that we achieved." Disney can claim 10 of the 20 highest-grossing films, each of which took more than $1 billion at the box office, per IMDb. However, the film's now made $383 million globally, per Box Office Mojo.

Persons: Bob Iger, Iger, —, That's, Indiana Jones, Bob Chapek, Iger's Organizations: Disney, Service, The New York Times, Summit, Netflix

☆ Jack Ma popped up randomly on Alibaba's staff forum only to deliver a rare criticism of his company's performance
▼ + stars: | 2023-11-29 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

Jack Ma resurfaced once again and made a surprising post on Alibaba's staff forum. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Responding to an employee's forum post on Wednesday, Ma emphasized the need for change within Alibaba in a post seen by Business Insider. In his post, Ma wrote: "Everyone can be successful. AdvertisementNotably, in his message, Ma congratulated Alibaba's rival Pinduoduo, the parent company of the e-commerce app Temu, praising its strategic decisions in recent years.

Persons: Jack Ma, —, Ma, Alibaba, Pinduoduo Organizations: Service, Business Insider, Ant, Tokyo College Locations: China, Tokyo

☆ OpenAI doesn't plan to offer Microsoft or other outside investors a board seat: reports
▼ + stars: | 2023-11-29 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

OpenAI doesn't plan to give board seats to investors like Microsoft, per Reuters and The Information. AdvertisementSome of OpenAI's biggest backers are unlikely to gain board seats even after the company's management shakeup, Reuters and The Information reported on Tuesday. OpenAI's new board is not planning to offer board seats to outside investors, such as Microsoft, Thrive Capital, and Khosla Ventures, Reuters reported, citing a source familiar with the matter. AdvertisementOpenAI cofounder and CEO Sam Altman was fired by his company's board on November 17, before staging a dramatic comeback five days later. OpenAI, Microsoft, Thrive Capital, and Khosla Ventures did not immediately respond to requests for comment from Business Insider, sent outside regular business hours.

Persons: OpenAI, Satya Nadella, —, shakeup, Thomas Hayes, Sam Altman, Altman's, Larry Summers, Bret Taylor, Adam D'Angelo, Altman, Nadella, Kara Swisher, Swisher Organizations: Microsoft, Reuters, Service, OpenAI's, The, Khosla Ventures, Hill Capital, Business Locations: OpenAI

☆ Ex-Google researcher says there's more chance she'd go back to Google than join OpenAI's board
▼ + stars: | 2023-11-29 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

OpenAI's new board has drawn criticism for only consisting of white men. One name that's been floated to join it is ex-Google researcher and AI ethics expert Timnit Gebru. AdvertisementThe new OpenAI board has drawn criticism for its lack of diversity, as it's currently comprised of three white men. One name that's been floated to join the board is prominent AI researcher Timnit Gebru. The new board will consider candidates to fill an expanded board of nine members, according to The Verge.

Persons: Timnit, Gebru, —, Timnit Gebru, Sam Altman's, Larry Summers, Bret Taylor, Adam D'Angelo Organizations: Wired, Service, Google, Intelligence Research

☆ The mayor of Paris is making a loud exit from X, calling the platform a 'gigantic global sewer'
▼ + stars: | 2023-11-28 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Paris Mayor Anne Hidalgo says she's leaving X after 14 years on the platform. AdvertisementParis Mayor Anne Hidalgo says she's leaving X after more than 14 years on the platform, formerly known as Twitter. "This platform and its owner intentionally exacerbates tensions and conflicts," she wrote in French, adding that the platform has "become a gigantic global sewer." "To remain true to my convictions and my commitment, I am leaving Twitter today," Hidalgo wrote on Monday. AdvertisementAn early proponent of Twitter, Hidalgo joined the platform in 2009 when she was the deputy mayor of Paris.

Persons: Paris Mayor Anne Hidalgo, she's, Elon Musk, —, Anne Hidalgo, Hidalgo, cacmq4 — Anne Hidalgo, Ross Gerber, Dustin Moskovitz Organizations: Paris Mayor, Elon, Service, Twitter, de, Instagram, Facebook, Apple, IBM, Disney, The New York Times, Business Insider Locations: Paris, de Paris, @Anne_Hidalgo

☆ I've been teaching in Thailand for 3 years. It's a myth that it's an easy gig.
▼ + stars: | 2023-11-28 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +5 min

He thinks transplants often don't take key steps to prepare themselves for the realities of teaching in Thailand. I moved to Thailand three years ago after deciding it was time to leave my home country of the UK. AdvertisementAnd after teaching in Thailand for three years, I think there's a big misconception that teaching in Thailand is an easy gig — and it's not helped by the viral and misleading stories some people share online. There's a perception that foreign teaching in Thailand is easy enough that you can get drunk and high every night, but that's simply not the case. Plus, I've yet to visit somewhere with a more international and diverse food scene than Bangkok.

Persons: James Gane, —, hadn't, it's, that's, It's, I've, Thailand James Gane, I'd Organizations: Service, Signature, Michelin Locations: London, Bangkok, Thailand, England, Siam, Central Bangkok, I'm, Signature Bangkok

☆ Google is about to start purging old Gmail data and photos. Here's how you can keep it from happening to you.
▼ + stars: | 2023-11-27 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

Google said it will begin purging the data of inactive Google accounts in December. The company said it's deleting inactive accounts for security reasons. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGoogle's purge of Gmail data and photos belonging to inactive accounts is set to begin on December 1. Some of the comments on X — formerly known as Twitter — surrounding the account purge were about the inactive accounts of dead friends and family.

Persons: —, Ruth Kricheli, Kricheli, Emmett Shear Organizations: Google, Service, Twitch, YouTube, Meta, Microsoft, University of Oxford, Facebook

☆ An image of Israel Kamakawiwoʻole shows Google search still can't tell AI-generated pictures apart from genuine ones
▼ + stars: | 2023-11-27 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

AdvertisementIf you're struggling to differentiate AI-generated images from real ones, you're not alone. An AI-generated image of the late Hawaiian singer Israel Kamakawiwoʻole is currently showing up as the top search result on Google when you search his name. Business Insider searched for "Israel Kamakawiwoʻole" on Sunday evening and found the AI-generated images continuing to appear as the top search results. Noah Giansiracusa, a professor at Bentley University, pointed out on X that the AI-generated images show Kamakawiwoʻole playing a guitar. Google told 404 Media a day later that it had removed the AI-generated image from search results.

Persons: —, Israel Kamakawiwoʻole, Ethan Mollick, VdZmuUAwCK, Noah Giansiracusa, Google's, Giansiracusa, Kamakawiwoʻole, Judy Garland's, Edward Hopper, Johannes Vermeer Organizations: Service, Google, University of Pennsylvania's Wharton School, Business, Bentley University, Reddit, Media Locations: Hawaiian, Reddit

☆ I split my time between Tokyo and Singapore. I don't consider myself a digital nomad, I'm a 'shuttler.'
▼ + stars: | 2023-11-26 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +5 min

Austin Zeng is a freelancer who splits his time evenly between Singapore and Tokyo. He calls himself a "shuttler," and thinks it has clear benefits compared to being a digital nomad. I'm not a digital nomad, I'm a shuttler. While digital nomads jump from place to place to place, I spend my time shuttling between just two cities: Singapore and Tokyo. Unlike me, a digital nomad would be unlikely to stay in Japan during the dead of winter.

Persons: Austin Zeng, it's, —, I'm, Tokyo Austin Zeng, Shinjuku Austin Zeng I'm, It's, Zeng, FOMO Austin Zeng, Austin Zeng FOMO, I've, you'll Organizations: Service, Asahi Locations: Singapore, Tokyo, Shinjuku Austin, Japan, Shinjuku, —, It's, Airbnbs, I'm

☆ Shakeup at LVMH as Antoine Arnault, Bernard Arnault's oldest son, steps down as the CEO of luxury shoe-maker Berluti
▼ + stars: | 2023-11-24 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

The eldest son of LVMH CEO Bernard Arnault will be stepping down as the CEO of Berluti. Bernard Arnault is the world's third-richest man, and all five of his children work for LVMH brands. AdvertisementAntoine Arnault, the eldest son of LVMH CEO Bernard Arnault, will be stepping down as the CEO of Berluti, a luxury shoe brand under the LVMH umbrella. Bernard Arnault's eldest and only daughter, Delphine Arnault, became the CEO and chairperson of Christian Dior in February. In an interview with the New York Times in September, Bernard Arnault expressed his disdain for comparisons drawn between his family and HBO's hit show "Succession."

Persons: Bernard Arnault, Arnault, —, Antoine Arnault, Bernard Arnault's, Delphine Arnault, Christian Dior, HBO's, Arnault —, Elon Musk, Jeff Bezos Organizations: Service, Bloomberg, New York Times, Times, Wall Street Locations: LVMH, Paris

☆ An afternoon at the popular Chinese coffee chain that should be making Starbucks very, very nervous
▼ + stars: | 2023-11-24 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +7 min

A Chinese coffee chain called Luckin Coffee recently overtook Starbucks in China, beating the international coffee chain in sales in the second quarter of 2023, the Wall Street Journal reported on Sunday. Founded in Beijing in 2017, Luckin Coffee has staged a dramatic turn-around. AdvertisementCurious to see whether Luckin could live up to its Starbucks-killer hype, I headed over to a Luckin Coffee in Singapore's central Chinatown neighborhood on Thursday afternoon. Luckin Coffee and Starbucks did not respond to my requests for comment for this story. Ordering my coffee was machine-like: technical, efficient and impersonalA typical ordering experience on the Luckin Coffee app means you'll never have to interact with a human.

Persons: —, Luckin, Kai Xiang Teo, he'd, weren't, Amanda, didn't dally, Esther, I've, Jeremy Organizations: Service, Starbucks, Wall Street, Google, Singapore Locations: China, Beijing, China . Singapore, Singapore's, Chinatown, Luckin, Singapore, Hong Kong

☆ Zoom fatigue is real — and it's messing with more than just your head, study finds
▼ + stars: | 2023-11-23 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Participants' brain and heart readings indicated that videoconferencing caused higher levels of fatigue, sadness, and inattentiveness than did in-person lectures. What sets their findings apart, they added, is that past research on Zoom fatigue has been dependent on participants self-reporting their level of exhaustion in questionnaires. AdvertisementFor example, a 2021 study by Gothenburg and Stanford researchers that involved over 2,700 respondents found that longer Zoom meetings weren't the only causes of fatigue. However, Zoom fatigue may not be as widespread as it seems. A Pew Research Center study surveying 10,000 workers in October 2020 found that fewer than four in 10 said they were worn out by videoconferencing.

Persons: —, they've, Rene Riedl Organizations: Service, University of Applied Sciences Upper, Stanford, Pew Research Center Locations: University of Applied Sciences Upper Austria, Gothenburg

☆ Finances are keeping some Gen Z and millennials up at night, survey finds
▼ + stars: | 2023-11-23 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

Gen Z and millennials are losing more sleep over their finances than older generations, a survey found. Less than half of Gen X and baby boomers said rising rent or home prices contributed to financial stress. Some 56% of Gen Z and 51% of millennial respondents to a survey by financial services company Empower published this week said their finances were keeping them up at night. Meanwhile, 62% of Gen Z and millennial respondents said rising contributed to their financial stress, while only 38% of older respondents said the same. Home ownership has long been more elusive for millennials and Gen Z.

Persons: Z, X, —, Gen Z, Gen Zeds Organizations: Service, Redfin

☆ Binance was slapped with a $4.3 billion fine because it let groups like Hamas and ISIS receive funds: Treasury Department
▼ + stars: | 2023-11-22 | by ( Kai Xiang Teo | Matthew Loh | ) www.businessinsider.com time to read: +4 min

The treasury department says the company enabled transactions from Hamas, the Islamic State, and Al Qaeda. The treasury department said Binance failed to report over 100,000 suspicious transactions involving terrorist groups, ransomware, child sexual exploitation material, and scams. Lim had been told about "HAMAS transactions," and responded by saying that terrorists often send "small sums" of money because "large sums constitute money laundering," the CFTC complaint said. Advertisement"I HAZ NO CONFIDENCE IN OUR GEOFENCING," Lim was told by a Binance employee, who was tasked with reporting money laundering, the complaint said. The justice department opened an investigation into Binance's compliance with anti money laundering law in 2018.

Persons: Binance, —, Samuel Lim, Lim, Zhao, Merrick Garland, Richard Teng —, Binanace, Yesha Yadav Organizations: Service, Zhao, Brigades, Hamas, Islamic, Futures Trading, AK, New York Times, Vanderbilt University, Reuters, Futures Trading Commission, Securities and Exchange Commission Locations: Islamic State, Al Qaeda, Iraq, Syria

☆ The Cambridge Dictionary named 'hallucinate' its word of the year — and it captures the AI industry's biggest challenge
▼ + stars: | 2023-11-22 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

The Cambridge Dictionary is updating the definition of the word "hallucinate" because of AI. Hallucination is the phenomenon where AI convincingly spits out factual errors as truth. It's a word that also captures one of the AI industry's key challenges: misinformation. AdvertisementThe Cambridge Dictionary's newly crowned word of the year is a familiar one, but it's taking on a new meaning because of AI. Business leaders and misinformation experts have also voiced their concerns over how AI might worsen the state of online misinformation.

Persons: —, Morgan Stanley, Wendalyn Nichols Organizations: Cambridge, Service, Gizmodo, CNET, Microsoft, AIs

☆ Larry Summers and Bret Taylor are joining OpenAI's board as Sam Altman returns
▼ + stars: | 2023-11-22 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +5 min

Sam Altman is set to return to OpenAI, with a new board in place, the company announced Wednesday. Former board members Ilya Sutskever, Helen Toner, and Tasha McCauley are out. AdvertisementSam Altman is set to return to OpenAI with a new board that includes Bret Taylor, Larry Summers, and Adam D'Angelo, the company announced in an X post Wednesday. We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board of Bret Taylor (Chair), Larry Summers, and Adam D'Angelo. — OpenAI (@OpenAI) November 22, 2023The shakeup sees the departure of former board members Ilya Sutskever, Helen Toner, and Tasha McCauley.

Persons: Sam Altman, Larry Summers, Bret Taylor, Adam D'Angelo, Ilya Sutskever, Helen Toner, Tasha McCauley, —, OpenAI, Greg Brockman, Altman, they've, Bret Taylor Taylor, Taylor, Clay Bavor, who'd, Larry Summers Larry Summers, He's, @LaurenceParisot, aLKph9WEla — Lawrence H, Summers, Adam D'Angelo D'Angelo, D'Angelo, Kara Swisher, Emmett Shear, Quora, Poe Organizations: Service, Microsoft, Google, Facebook, Twitter, Elon, Google Labs, LinkedIn, Harvard, Bloomberg, GZERO Media Locations: Salesforce, Paris

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