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AI mostly outperformed human executives in an experiment by University of Cambridge researchers. But AI wasn't as good at making decisions in unexpected "black swan" events. That led to AI getting fired by a virtual board of directors more quickly than humans. Because of that, AI got fired more quickly by a virtual board of directors than its human counterparts, which navigated unexpected situations better. When a "black swan" event occurred, the bot couldn't address it as quickly — or as well — as the human executives and students.
Persons: , Hamza Mudassir, Mudassir, LLMs Organizations: University of Cambridge, Service, Cambridge, Harvard Business Locations: Cambridge, OpenAI
Florida gas stations are running out of fuel ahead of Hurricane Milton's landfall. If the storm damages Port Tampa Bay, it could mean long-term trouble for the gas supply chain. AdvertisementA day before Hurricane Milton was expected to make landfall, gas stations in Florida were already running out of fuel. As of 8 p.m. local time on Tuesday, more than 1 out of 5 gas stations in Florida had no gas, according to data from GasBuddy, which tracks gas prices. But lines at gas stations have been long and gas stations are running out quicker than they otherwise would."
Persons: , Hurricane Milton, Shon Hiatt, " Hiatt, Ron DeSantis, DeSantis, Christopher Tang, Tang, Hiatt, Patrick DeHaan, DeHaan Organizations: Service, Hurricane, Tampa Bay, Business, Energy, University of Southern California's Marshall School, Port Tampa Bay —, Florida Gov, CNN, National Guard, GasBuddy, Coast Guard Locations: Florida, Tampa Bay, GasBuddy, Milton, Coast, Tampa, Orlando, Central Florida, Port Tampa Bay
Major airlines said they were waiving change fees due to Hurricane Milton's impact on Florida. AdvertisementAs the travel industry prepares for Hurricane Milton, which is expected to make landfall in Florida on Wednesday, major airlines are offering to waive cancellation fees for travelers whose plans could be impacted. Four of the biggest airlines — United, American Airlines, Delta, and Southwest — said they are offering passengers options to cancel or reschedule their flights without penalty. The airline said it was waiving change fees for customers who were scheduled to fly through 12 Florida airports from October 8 through 10. DeltaDelta said it was waiving fare differences for passengers who planned to travel through nine Florida airports from October 7 to 10.
Persons: , Hurricane Milton, Southwest —, Pete Buttigieg, United, Delta Organizations: Service, Hurricane, — United, American Airlines, Transportation, United, Florida, . American Airlines American, Delta, Southwest Locations: Florida, United, Southwest, Delta, Milton, Tampa, Orlando, Miami, Fort Myers, Sarasota
Prosecutors proposed remedies after Google antitrust violation ruling by a federal judge. Judge Amit Mehta previously ruled Google violated antitrust laws by securing default search deals. AdvertisementProsecutors said they're considering a requirement that Google share the data that powers a big chunk of its business — the inputs and models for Google search and search results — through an application programming interface. Another proposal would prevent the company from using its other products, such as Chrome and Android, to promote Google search over competitors. Google previously said that the company plans to appeal the ruling, which could delay the judge from imposing any remedies filed by the prosecution.
Persons: Amit Mehta, , Prosecutors, doled, Evelyn Mitchell, Wolf, Mehta, Dan Ives Organizations: Service, Google, Big Tech, Apple, Prosecutors, Companies, Microsoft, Wedbush Securities, Department of Justice
How consulting lost its cool
  + stars: | 2024-09-30 | by ( Lakshmi Varanasi | Tim Paradis | Kelsey Vlamis | ) www.businessinsider.com   time to read: +9 min
Consulting firms have faced increased employee turnover after layoffs and delayed start dates. For decades, business students and MBAs looked to consulting because the work was high in pay and prestige. AdvertisementThe lure of other industriesThe declining appeal of the consulting industry is most evident in the number of employees leaving. That's different from when he left in 2022, when there was a pandemic-fueled boom for consulting work. "When I was transitioning out of consulting, consulting was actually still all the rage.
Persons: , MBAs, Jason Saltzman, Lightbank, Ezra Gershanok, Gershanok, Gorick Ng, Ng, Matt Sternberg, Sternberg, he's, who've, Consulting hasn't, Ernst, Young, Irmgard Naudin, Cate, Atli Thorkelsson, Thorkelsson Organizations: Service, Accenture, Technologies, McKinsey, Harvard University, Boston Consulting Group, BI, Big, Consulting, Redpoint Ventures, Business Locations: , London
The menu description for the $52 Caviar Martini included Grey Goose, toasted rye, white peppercorn, dolin blanc, bitters, and 14 grams of caviar. Monkey Bar, New York City: $34The Monkey Bar Martini at Monkey Bar in New York City. The restaurant offers various options — including a $74 Añejo Negroni — but we tried the $34 Monkey Bar Martini. Ordering the Ocean Martini is an experience that invites guests to expand their pallets. Given the pour size and the snack, we'd say the price for the Ocean Martini is worth it.
Persons: , Trevin Hutchins, Dante, Kelsey Vlamis, Martini, Grey, Lloyd Lee, Nicoulai, Aphotic, Hutchins, Lauren Edmonds, Marlon Brando, couldn't, Bar, Frasco, Gibson, Bobby Murphy, Murphy, kombu, Scrooge, he's, I'm Organizations: Service, Business, Beverly Hills, Michelin, Monkey, Museum of Metropolitan Art, ILIS, Wine, Grub, ILIS's Locations: Francisco's, Los Angeles, San Francisco, New York, Dante, Beverly Hills, West, New York City, Beverly, Los, Boston, Aphotic, , New York City, Manhattan, Elysée, Kyoto, Japan, ILIS
Read previewVice President Kamala Harris hammered former President Donald Trump on abortion during the presidential debate on Tuesday, invoking real-world consequences of abortion bans. Harris responded by saying more than 20 states have since passed "Trump abortion bans," including some that do not have exceptions for rape or incest, calling the bans "immoral." During the exchange, the vice president looked directly at Trump with a powerful response that included specific examples of how state-level abortion bans have impacted reproductive rights. AdvertisementAbortion is also a winning issue for Democrats and has been important for turnout in states where abortion referendums have been on the ballot. President Joe Biden, notably, botched his answer on abortion during his debate with Trump before he dropped out of the race.
Persons: , Kamala Harris, Donald Trump, Trump, Roe, Wade, SCOTUS, Harris, didn't, Joe Biden, Neil Gorsuch, Brett Kavanaugh, Amy Coney Barrett Organizations: Service, Pew Research, Business, Trump, Court, GOP, Republicans, Biden Locations: Arizona, Georgia
When researching the properties, he confirmed their tax status as short-term rentals on the county site. Jason Gobey, another short-term rental owner, told BI he researched and spoke to real-estate agents as well as others before buying his one-bedroom condo in Kihei in 2019. He also said he confirmed the property's tax status as a short-term rental and had no idea there could be an issue with it. Though some of the Minatoya List properties will likely be converted to long-term rentals, Church said it is not financially feasible for him. But the benefit of adding the Minatoya List properties to the housing stock is that they are already built.
Persons: , Andrew Church, Mario Tama, Richard Bissen, Church, Jason Gobey, Gobey, Smith, Justin Tyndall, Tyndall, that's, it's Organizations: Service, Business, Church, Owners, Maui, Maui Planning, University of Hawaii Locations: Maui, Lahaina, Barcelona, New York City, South Maui, West Maui, Kihei, Arizona, Manoa
In 2023, mass-tort lawyers spent $152 million on TV ads and millions more on social media. The data provider X Ante estimated that in 2023, mass-tort lawyers spent $152 million on TV ads and millions more on social media. The decades that followed mass torts' onset on the national stage showed the big risks and big rewards of mass torts. AdvertisementIn a class action, a settlement is public, and the judge has to approve the lawyers' fees. But others are confident that indebted mass-tort lawyers can bounce back from a few bad bets.
Persons: Mike Papantonio, Pap, Johnson, Paul Cody, Bayer, Chris Seeger, audibles, Budd, Ness Motley, Motley Rice, South Carolina —, doling, Seeger, Wyeth, Phil Federico, Paul Hanly who'd, Federico, Lejeune, who've, Camp Lejeune, mack, Curt Miner, I've, Don Worley, Worley, , Daniel A, Mark Lanier, wouldn't, Elizabeth Chamblee Burch, Burch, Ellen Relkin, Merck, Vioxx, There's, Lucian Pera, Keller Postman, Jeremy Troxel, Keller, Troxel, Michael McDonald, Warren Postman, Postman, Kelsey Vlamis, Jack Newsham Organizations: Wynn, Vegas, Camp Lejeune, pharma, Supreme, X, Pfizer, Defense, Marines, Veterans, Foreign, US Marine Corps, Johnson, University of Georgia, Business, Intuit, Rihanna, Morning Investments, Fortress Investment, Gramercy Funds, Deepwater, Investments Locations: Camp, Texas, South Carolina, Baltimore, North Carolina, Camp Lejeune, America, Beverly Hills , California, nonbanks
Consumers can cut costs by choosing cheaper hotels, taking shorter trips, and planning ahead. 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 . "They're just looking for ways to make it more affordable, or at least reduce the costs," he told Business Insider. This story is available exclusively to Business Insider subscribers.
Persons: , Rod Griffin Organizations: Labor, AAA, Service, Business
But she said social media just isn't what it used to be. As a result of the influx of newer influencers, longtime content creators are seeing a decline in their audience engagement. The company has a website dedicated to resources for Instagram creators, including tips and explanations about its ranking system and algorithms. There is not a specific section addressing creator mental health, though a blog post from Mental Health Awareness Month in 2023 briefly addressed the issue. I started from being a backpacker and having no money," she said, adding she still loves her job and sees herself working in social media long-term.
Persons: , Bree Rose, Rose, Instagram, she's, Zers, Goldman Sachs, Julia Broome, It's Organizations: Service, Business, Social, Mental Health Locations: Washington, Mexico, France, Los Angeles
Saudi Arabia's Neom ordered eight electric shuttles from Sweden-based Candela. The Candela P-12 shuttles are high-speed electric foil ships that sit above the water. 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 . AdvertisementSaudi Arabia's "city of the future" is set to get its own ships of the future — electric passenger shuttles that appear to fly as they move through the water.
Persons: Saudi Arabia's Neom, Candela, Organizations: Saudi, Service, Business Locations: Sweden, Saudi Arabia, Candela
Ukraine launched a shock counter-invasion into Russia last week. US officials told the Wall Street Journal that Russia is withdrawing troops from Ukraine in response. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRussia is withdrawing some of its troops from Ukraine in response to Ukraine's counter-invasion into Russia that started last week, the Wall Street Journal reported on Tuesday, citing unnamed US officials. US officials told the Journal it was still unclear how many troops Russia was pulling back from Ukraine.
Persons: Organizations: Wall Street Journal, Service, Wall Street, Politico, Business Locations: Ukraine, Russia, Kyiv, Politico Europe, Kursk
Read previewElon Musk and former President Donald Trump live-streamed a wide-ranging discussion on Monday, eliciting reactions from tech and business leaders. Gavin Newsom of California, who has a strained relationship with Musk, got a jab in at both the X CEO and the GOP nominee. Related storiesMark PincusMark Pincus, the founder of Zynga, the gaming company behind FarmVille, praised the former president during the conversation with Musk. Pincus said in an X post. The Harris campaignVice President Kamala Harris' campaign hit out at both Musk and the Trump campaign right after the livestream ended in a statement on X.
Persons: , Elon Musk, Donald Trump, Mark Cuban Mark Cuban, Michael Reaves, Joe Raedle, Mark Cuban, Musk, Trump, Gavin Newsom Gov, Gavin Newsom, Newsom, Ron DeSantis, DeSantis, Aaron Levie, Justin Sullivan, Hannibal Lecter, Levie, Mark Pincus Mark Pincus, Pincus, Elon, David Sacks David Sacks, Sacks, Biden, Harris, Kamala Harris, Donald Trump's Organizations: Service, Trump, Business, Getty Images, Getty, GOP, Lambs, Zynga, Craft Ventures, Democratic, Hollywood Locations: Cuban, California, FarmVille
X's Spaces malfunctioned on Monday ahead of Elon Musk's live interview with Donald Trump. Trump and Musk's conversation started about 40 minutes late. Go to newsletter preferences Thanks for signing up! AdvertisementElon Musk's livestream interview with former President Donald Trump ran into technical difficulties before the conversation even got started on Monday. The platform malfunctioned for many users despite Musk saying Sunday that he conducted several system scaling tests ahead of the conversation.
Persons: Elon Musk's, Donald Trump, Musk, Trump, Organizations: Service, Business
Read previewAs a freshman at Penn State University, Ezra Gershanok was set on landing a job in consulting after graduation. Four Gen Z consultants told BI they were not in the industry for the long haul. Related storiesYet she doesn't expect the consulting industry will go hungry for workers because of the opportunities the experience can bring. AdvertisementShe said the learning opportunities can help some young consultants cope with the long hours and stress of the gig. Gen Z consultants said the hours are worth it as long as they pick up new skills.
Persons: , Ezra Gershanok, There's, Gershanok, It's, he'd, Gen Zers, Vicki Salemi, Monster, Salemi, Gen, Jorge García Febles, I'm, PwC, it's, Spencer Rascoff, Surabhi Gupta Organizations: Service, Penn State University, Deloitte, McKinsey & Company, Business, Ritz Carlton, Consulting, McKinsey
Read previewFor what now feels like a fleeting moment this summer, former President Donald Trump seemed to be on top of the world. When reached by Business Insider about reports that Trump is frustrated over the Harris campaign's momentum, Steven Chueng, the Trump campaign spokesperson, called it "fake news." AdvertisementAt a press conference at Mar-a-Lago on Thursday, he again claimed Biden had "the right to run" but that Democrats "took it away." Sen. Lindsey Graham, a close ally of Trump, even acknowledged to the Post that the campaign has "hit a few speed bumps." AdvertisementWhether all the momentum behind the Harris campaign will ultimately translate to a win in November is impossible to say.
Persons: , Donald Trump, Trump, revelers, Hulk Hogan, Kamala Harris, there's, Tim Walz, Harris, Steven Chueng, Joe Biden, Biden, He's, baselessly, Martin Luther King Jr, Richard Porter, Post Trump, Sen, Lindsey Graham, Ben Shapiro, Walz Organizations: Service, Business, Democratic, Minnesota, Biden, Mar, Trump, Republican National Committee, Washington Post, Post, New York Times Locations: Florida, Harris
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. So what do such wild swings mean for folks who stress about what the stock-market ups and downs mean for their investments? Advertisement"In fact, it's what we all sign up for when investing in the stock market," he said, adding that, on average, the stock market loses money once every four years and that you could even expect swings of more than 14%. He added: "Selling is literally the only way that you can turn a temporary decline into a permanent loss."
Persons: , Dow, Gideon Drucker, Aswath Damodaran, Drucker Organizations: Service, Nasdaq, Business, Drucker Wealth, New York University
It's also linked to the Walton family — the billionaire heirs to Walmart. AdvertisementThe ranch once had a recording studio that hosted musicians like Stevie Nicks and Billy Joel. Hall and HallIn addition to its ties to the famous family of billionaires, the history of Caribou Ranch also involves some music legends. The Caribou Ranch Recording Studio was even inducted into the Colorado Music Hall of Fame in 2017. Hall and HallThe ranch served as a basecamp for miners during the period, according to Hall and Hall.
Persons: , Elton John, It's, Walton, Sam Walton, Rob, Jim, Alice, Lukas, Stevie Nicks, Billy Joel, Rod Stewart Organizations: Service, Walmart, Hall, Business, Denver Post, Walton Enterprises, Street Journal, Bloomberg, Boys, Colorado Music Hall of Fame, of, Colorado Locations: Colorado, Nederland , Colorado, Boulder, Denver, Hall Boulder, Arkansas, Caribou, American
Silicon Valley's billionaire CEOs faced losses in Monday's stock market downturn. The Nasdaq 100 fell 3.4%, the Dow Jones fell over 1,000 points, and the S&P 500 fell 3% as of market close. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSilicon Valley's billionaire founders and executives saw their net worths take a hit with Monday's stock market downturn.
Persons: Dow Jones, Jeff Bezos, Larry Ellison, Organizations: Nasdaq, Service, Tech, Nvidia, Apple, Microsoft, Business
Read previewWhen Kamala Harris took up Joe Biden's mantle last month and launched her campaign for president, she did so knowing that she'd have an abbreviated run leading up to the election. Harris' campaign started with sighs of relief from Democratic voters over Biden dropping out and instant enthusiasm that contributed to Harris' record-breaking fundraising efforts, Dagnes, who focuses on political media, said. "Young people represent a strategic sector for Kamala for two reasons," Gutiérrez told BI. AdvertisementTrump has also tried several lackluster nicknames against Harris, like "Laffin' Kamala Harris" and "Cackling Copilot Kamala Harris," which haven't gained traction like "Sleepy Joe" did against Biden. "By maintaining a high level of visibility and continuing to address key voter issues, Harris is well-positioned to leverage the remaining campaign period effectively."
Persons: , Kamala Harris, Joe Biden's, Harris, Alison Dagnes, there's, Dagnes, Joe Biden, Barack Obama, Sergio José Gutiérrez, Kamala, Gutiérrez, Donald Trump's, Hillary Clinton's, Hillary, Trump, Joe, Biden, Harris — Organizations: Service, Business, Shippensburg University, Democratic, Biden, CNN, Labor, Howard University, Trump Locations: Chicago
AdvertisementSome locals and business owners were quick to encourage tourists to return, citing the importance of tourism to the island's economy. According to the Maui Economic Development Board, around 70% of every dollar in Maui County is generated, either directly or indirectly, by the tourism industry. Tourism numbers from June 2024 show that nearly a year on, visit numbers had yet to return to their pre-fire levels. Tourists are still encouraged to act responsibly when they visit Maui, and there are opportunities to donate or help out with Lahaina recovery efforts. Shank said the Four Seasons is also encouraging tourists to actively get out and support the island during their visit.
Persons: , Ben Shank, Shank, " Shank, Lisa Paulson, Paulson, Smith Organizations: Service, Business, Maui Economic Development Board, Hawaii Department of Business, Economic, Tourism, Hawaii State Rural Health Association, Lodging Association, Travel Locations: Maui, Lahaina Town, Maui County, Lahaina, Hawaii, cabanas, Europe, Hana
Surprising status symbols are popping up throughout the US, including dogs that cost six figures. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWhen it comes to status symbols, you typically know one when you see it. But status symbols that may be a lot less obvious seem to be increasingly popping up across the US. From dogs that go for six figures and summer camps that set parents back thousands, here are eight of the most surprising status symbols people are splurging on.
Persons: , Hermes Birkin Organizations: Hamptons, Service, BMW
Vice President Kamala Harris responded to former President Donald Trump's remarks at the NABJ convention. Trump had tense exchanges with journalists and claimed Harris "happened to turn Black." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementVice President Kamala Harris responded to remarks made by former President Donald Trump at the annual meeting of the National Association of Black Journalists in Chicago on Wednesday. Trump claimed that Harris, who is of Indian and Jamaican heritage, had recently "happened to turn Black."
Persons: Kamala Harris, Donald Trump's, Trump, Harris, , Donald Trump, he'd Organizations: Service, National Association of Black Journalists, Wednesday, Business Locations: Chicago, Indian
Several countries, including the US, carried out a major prisoner swap with Russia on Thursday. The US wanted Alexey Navalny, Putin's most vocal political dissident, to be part of the deal. The Wall Street Journal reported that Putin was open to the idea before Navalny's death in a Russian prison. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementVladimir Putin was open to releasing Alexey Navalny, the Russian leader's fiercest critic and political rival whose unexpected death in an Arctic penal colony sparked international backlash, as part of Thursday's historic prisoner swap, according to The Wall Street Journal.
Persons: Alexey Navalny, Putin, , Vladimir Putin, Evan Gershkovich, Paul Whelan, Alsu Kurmasheva, Vladimir Kara, Murza Organizations: Russia, Street Journal, Service, Wall Street Journal, Street, Washington Post, Business Locations: Russian, American
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