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download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWe learned a new detail about Sam Altman Thursday: just how much he supports Reddit. The filing revealed that Altman, the CEO of OpenAI, owns an 8.7% stake in the company. Reddit is the first social media company to submit an initial public offering since Pinterest in 2019, and it's the first major tech company to file for an IPO in 2024. The concept of working this closely with AI companies hasn't gone over great with some Reddit users, who have criticized the idea of profiting off users' data without their consent.
Persons: , Sam Altman, Altman, Newhouse, Tencent, Reddit, Reddit doesn't, Steve Huffman, hasn't Organizations: Service, Securities and Exchange Commission, Business, Altman, Advance, Hollywood, Bloomberg, Google, OpenAI, SEC Locations: Reddit
OpenAI's Sam Altman unveiled a new video-generating tool called Sora. Sora creates realistic videos based on user prompts, including images and longer videos. The AI company behind ChatGPT announced the new tool, Sora, on Thursday. It's designed to create realistic videos based on user prompts. In response, Sora delivered a bunch of sea creatures, some with human-like legs, biking on water.
Persons: OpenAI's Sam Altman, , Sam Altman, ChatGPT, It's, Altman, sora, Sora Organizations: Service
SpaceX has filed to relocate its business incorporation from Delaware to Texas. The move follows a Delaware judge's decision to void CEO Elon Musk a $55 billion Tesla pay package. AdvertisementSpaceX, which was incorporated in the famously corporation-friendly Delaware, filed to relocate its business incorporation with the Texas Secretary of State, Bloomberg reported. SpaceX CEO Elon Musk publicly railed against the Diamond State and a judge's decision to void his $55 billion Tesla pay package. "The public vote is unequivocally in favor of Texas," Musk wrote on February 1.
Persons: Elon Musk, , Musk, B7FLByL2dY — Elon, Tesla, Charles Elson Organizations: SpaceX, Service, Texas, State, Bloomberg, Diamond State, Business, Weinberg, Corporate, University of Delaware, Wall Street Locations: Delaware, Texas, Neuralink, Nevada, it's, Brownsville, Austin, Silicon Valley
Layoffs are coming for Morgan Stanley's wealth-management division, according to The Wall Street Journal. It's one of the first major moves since Chief Executive Ted Pick took over. AdvertisementMorgan Stanley is trimming from its wealth-management division, according to The Wall Street Journal. The cuts represent about 1% of the total wealth-management division. The wealth-management division has seen some slowing down in recent months.
Persons: Morgan Stanley's, Ted Pick, , Morgan Stanley, James Gorman, aren't Organizations: Wall Street, Service
Golf legend Tiger Woods debuted a new apparel partnership Monday. Woods and Nike parted ways after 27 years in January. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementTiger Woods will still be golfing in his trademark red polos — albeit made by a different company. Woods parted ways with Nike after 27 years last month, but on Monday announced a new partnership with TaylorMade Golf.
Persons: Tiger Woods, , Woods Organizations: Nike, Service, Monday, TaylorMade, Associated Press, Business
A San Francisco man was arrested and charged with defrauding Apple. Two weeks after he was arrested, Apple sent out a security update acknowledging him for his "assistance." NEW LOOK 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 . AdvertisementA San Francisco man was charged with defrauding Apple out of about $2.5 million worth of gift cards and products.
Persons: He's, Apple, , Noah Roskin, Frazee Organizations: Apple, Service, Business Locations: Francisco, CourtWatch
Costco CFO Richard Galanti once said the company's $1.50 hot dog and soda combo was "forever." NEW LOOK 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 . AdvertisementRichard Galanti, Costco's CFO of nearly 40 years, is stepping down next month, the company announced Tuesday. By many, he'll be remembered for his fierce dedication to the $1.50 price tag on a hot dog and soda combo at the warehouse club's food court — an unreal value that has been the same since 1985.
Persons: Richard Galanti, , he'll, Galanti Organizations: Costco, Service, Business
Taylor Swift's massively successful Eras Tour is coming to Disney+, the company announced Wednesday. Included in the stream are songs like "Cardigan," which weren't in the theatrical release. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The company announced Wednesday it will exclusively stream Taylor Swift's Eras Tour starting March 15 on Disney+ — featuring new songs that didn't make the theatrical cut. Previously, the movie of Swift's massively popular tour had only been available to rent on other streamers.
Persons: Taylor Swift's, , Bob Iger Organizations: Disney, Service, Business Locations: Cardigan, Swift
The National Transportation Safety Board's published a preliminary report on Alaska Airlines' blowout Tuesday. The report said several bolts were missing from a door plug that separated mid-flight. Bolts on the door weren't installed to begin with, the report said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSeveral bolts were missing from a door plug that blew out mid-flight from an Alaska Airlines Boeing 737 Max 9 plane in January, a preliminary report from the National Transportation Safety Board said Tuesday.
Persons: Transportation Safety Board's, Bolts, , weren't Organizations: Transportation Safety, Alaska Airlines, Service, Alaska Airlines Boeing, Max, National Transportation Safety, Boeing, NTSB
Apple's new Vision Pro hits stores Friday amid a wave of optimism from the company. When asked about the price tag, Apple CEO said the device includes 5,000 patents. The Apple Vision Pro hits stores Friday, marking the company's first major product launch in years. The Vision Pro has two Apple Silicon chips and 600 new apps and games available. AdvertisementAlready, companies such as Walmart and Nike are looking into uses for the Vision Pro for their customers or employees, Apple's CFO Luca Maestri said Thursday.
Persons: , Tim Cook, preorders, Cook, Luca Maestri Organizations: Apple, Service, Walmart, Nike, Vision Pro
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at the grilling tech CEOs got during a contentious Senate hearing, with one notable exception. The big storyTech on trialAnna Moneymaker/Getty ImagesTech CEOs testified in a Senate hearing that turned into the type of fiery debates found on their social-media platforms. Executives for Meta, TikTok, X, Snapchat, and Discord were grilled by US lawmakers during a contentious Senate hearing on online child sexual exploitation. The most shocking moment involved Meta CEO Mark Zuckerberg, BI's Lauren Steussy reports.
Persons: , we're, Anna Moneymaker, Aaron Mok, Camilo Fonseca, Mark Zuckerberg, BI's Lauren Steussy, GOP Sen, Josh Hawley, Zuckerberg, Shou Zi Chew, Republican Sen, Tom Cotton, Linda Yaccarino, Alex Wong, Chew, X's Yaccarino, BI's Katie Notopoulos, Yaccarino, Katie, It's, there's, Sen, Lindsey Graham, We've, Jerome Powell, Win McNamee, Troy Rohrbaugh, Jamie Dimon, it's, Jeff chiu, Alyssa Powell, Byron Allen, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb Organizations: Business, Service, Tech, Getty Images Tech, Meta, GOP, Republican, Chinese Communist Party, Pew, Big Tech, Federal Reserve, Paramount, Getty, Apple Locations: Washington, Washington ,, New York, London
The world's largest EV maker BYD is getting into the shipping business. The company has purchased its first vessel to ship cars around the world. The BYD Explorer No.1 set sail on its maiden voyage this month with 5,000 BYD cars. AdvertisementBYD, the world's biggest electric vehicle maker, isn't just hitting roads in a major way — it's hitting the open seas. The Chinese company and Tesla rival set sail in January with 5,000 cars on its first vehicle carrier, named "BYD Explorer No.1."
Persons: , isn't, it'll Organizations: BYD, Service, Business
Mark Zuckerberg was grilled by a Senate committee Wednesday over child safety on his platforms. In a striking moment, GOP Sen. Josh Hawley demanded Zuckerberg face families whose kids were harmed. Zuckerberg was among the Big Tech CEOs at the hearing on online child safety. AdvertisementMeta CEO Mark Zuckerberg had to turn and face the families of children who were harmed by social media companies head-on during a contentious Senate hearing on Wednesday. The shocking moment was prompted by Republican Sen. Josh Hawley during an intense hearing on online child safety before the Senate Judiciary Committee.
Persons: Mark Zuckerberg, GOP Sen, Josh Hawley, Zuckerberg, , Republican Sen Organizations: GOP, Big Tech, Service, Republican, Business
During Wednesday's tense congressional testimony over online safety for children, Sen. Tom Cotton repeatedly asked Singaporean TikTok CEO Shou Zi Chew if he's ever been a part of the Chinese Communist Party. An increasingly agitated Chew, who's no stranger to US politicians' prodding, tried repeatedly to shut down the line of questioning by telling the conservative senator that he's Singaporean. "Senator, I'm Singaporean, no," Chew responded. Chew was joined by four other social media companies' CEOs Wednesday for a combative hearing on protecting children online in the Senate Judiciary Committee. Zaveri put it this way:The rhetoric at times seemed to paint the Chinese people with a broad brush and conflated people of Chinese ancestry with the will of the CCP.
Persons: Sen, Tom Cotton, Shou Zi Chew, he's, Chew, Cotton, Jamie MacEwan, MacEwan, Paayal Zaveri, Zaveri, bungled Organizations: Chinese Communist Party, Business, Enders Analysis, Committee, Energy, Commerce, CCP Locations: China, Beijing
Congress is set to grill leaders from Meta, X, TikTok, and other tech companies in a hearing Wednesday. The session will cover efforts to protect children from sexual exploitation online. This will be X CEO Linda Yaccarino's first time testifying before Congress. AdvertisementTech leaders are arriving in Washington, DC, voluntarily or not, to answer for their platforms' efforts to protect kids from sexual exploitation. Over the weekend, X announced plans to hire 100 full-time workers for a yet-to-be-opened content moderation hub in Austin aimed at addressing child sexual exploitation on its platform.
Persons: Linda Yaccarino's, , X —, Elon Musk, Axios, She'll, Mark Zuckerberg, Evan Spiegel, TikTok, Shou Zi Chew, Jason Citron, Meta, We're, X Organizations: Meta, Service, Tech, Elon, Wall, Journal, The New York Times, Times Locations: Washington , DC, Austin
Purcell was among the dozens of passengers who signed up for a three-year cruise with Life at Sea — an around-the-world journey that was canceled two weeks before its departure. A representative for Miray Cruises denied the passengers' fraud accusations and said they would refund the passengers by February 15. I thought, "God, this cruise is really something I could do." I've been putting off processing my grief, and I'm going to join a grief group in the next couple of weeks. I'm not on that ship, but I'm taking charge of my life.
Persons: , David Purcell, Purcell, Beth, We'd, they've, I'm Organizations: Service, Miray Cruises, Business, Navy, Miami Airport, US Department of Justice, FBI, US Locations: Southern Florida, Kansas, Norway, Antarctica, New Zealand, Australia, South America, Asia, Roatán, Honduras, Kirkwood , Missouri
Epstein accuser Virginia Giuffre said Dubin had sex with her while his wife was sleeping nearby. A 2016 deposition in a Florida case involving attorney Alan Dershowitz was unsealed Tuesday, including questioning of Epstein accuser Virginia Giuffre. In the 2016 deposition, Dershowitz's attorney asked Giuffre whether Dubin was "the powerful business executive whose pregnant wife was asleep in the next room," to which Giuffre responded "Yes." Related storiesGiuffre was also asked whether she'd ever been trafficked to Glenn Dubin's wife Eva Andersson Dubin. The couple also have a daughter, Celina Dubin, whom Epstein previously joked about marrying, a source close to Epstein told Business Insider in 2019.
Persons: Glenn Dubin's, Jeffrey Epstein, Epstein, Virginia Giuffre, Dubin, , Glenn Dubin, Alan Dershowitz, Ghislaine Maxwell, Giuffre, she'd, Eva Andersson Dubin, Eva Dubin, Johanna Sjoberg, Glenn, Sjoberg, Business Insider's, Celina Dubin, Jeff Organizations: Giuffre, Service, Business, Securities and Exchange Commission Locations: Dubin, Florida
Elon Musk's current custody battle with Grimes hinges on where his children with the musician live. At a Formula 1 event in Texas, Musk was pictured waving to the crowd with his son X on his shoulders. AdvertisementAdvertisementTesla CEO Elon Musk made an appearance at Sunday's F1 race in Austin, Texas, with his son X perched on his shoulders. The 3-year-old is at the center of a parental rights battle between Musk and his sometimes-partner, musician Grimes. X, meanwhile, is "only absent from California over [Boucher's] objection," according to Grimes' October 6 request for Musk's case to be thrown out, previously obtained by Insider.
Persons: Elon Musk's, Grimes, Musk, X, , Elon Musk, Claire Boucher, Musk's Cybertruck, nannies, Peter M, Walzer Melcher, Grimes didn't Organizations: Service, Tau, SpaceX, Mercedes, Musk Locations: Texas, Austin , Texas, California, Musk's
Buildings erected in Israel since the 1990s have built-in safe rooms to avoid bombs and air strikes. Residents told Insider what they're like, showing spaces with sparse furnishings and barricaded entries. While safe rooms are commonplace in Israel, they're essentially non-existent in Gaza. AdvertisementAdvertisementThis photo taken on Oct. 8, 2023 shows a sparsely-furnished safe room in a building in Jerusalem. There is no place to go when Israel bombs," Diana Buttu, a lawyer and analyst, told Insider.
Persons: they're, , Chen Junqing, Aisenberg, ACK GUEZ, Sacha Roytman Dratwa, Dratwa, Amir Levy, Gideon Harari, JALAA MAREY, Tahani Mustafa, Richard Hech, Diana Buttu Organizations: Service, Hamas, Israel Defense Forces, Command, Getty, Antisemitism, Jerusalem Post, People, Crisis Group, United Nations Relief, Works Agency for Palestine Refugees, UN Locations: Israel, Gaza, Jerusalem, Xinhua, Tel Aviv, AFP, Lebanon, Palestine
Ellison, the former CEO of his cryptocurrency hedge fund, said SBF believed money could win him political power. He thought "you could get very high returns for relatively small amounts of money," Ellison testified. AdvertisementAdvertisementCaroline Ellison testified in court Tuesday that her former partner Sam Bankman-Fried believed he could win himself influence by donating "small" amounts of money to politicians. Ellison said that the money donated to Biden was a small amount of money for Bankman-Fried. "He thought it was very effective, that you could get very high returns for relatively small amounts of money," she said.
Persons: Caroline Ellison, Sam Bankman, Ellison, SBF, , Fried, Biden, he's, Ryan Salame, Salame, Ryan Organizations: Service, Prosecutors, Alameda Research, Biden, Commission, Fund, Republican, Federal Elections Commission, PAC, Congress, Bankman Locations: Bankman, FTX, Manhattan, Alameda
Dave Portnoy bought a $42 million waterfront home in Nantucket, The Wall Street Journal reported. AdvertisementAdvertisementDave Portnoy bought a record-setting $42 million home in Nantucket, The Wall Street Journal reported, citing people familiar with the deal. Photography: Read McKendree, Architecture and interior design: Workshop/APDPhotography: Read McKendree, Architecture and interior design: Workshop/APDThe sale set a residential real estate record for the island as well as the entire state of Massachusetts, according to the Nantucket Current. AdvertisementAdvertisementPhotography: Read McKendree, Architecture and interior design: Workshop/APDPhotography: Read McKendree, Architecture and interior design: Workshop/APDThe waterfront compound, built in 2018, was designed by Andrew Kotchen, a renowned local architect and designer, Dunlap said. Photography: Read McKendree, Architecture and interior design: Workshop/APDPhotography: Read McKendree, Architecture and interior design: Workshop/APDTunnels in luxury homes aren't entirely new.
Persons: Dave Portnoy, , Portnoy, Shellie Dunlap, Andrew Kotchen, Dunlap, Alice, Ron Syrnyk, Peter Engen, Lee Organizations: Street Journal, Service, Lee, Street, Penn Entertainment, Insider Locations: Nantucket, Massachusetts, Wonderland
Steelworkers in Ukraine are outsmarting Russian troops with realistic-looking decoy weapons. After fooling Russian radar, new decoy weapons are being given directly to Ukrainian troops. The workers at Metinvest, Ukraine's largest steel plant, have produced more than 250 decoy weapons for Ukrainian troops, tricking Russian forces into using up valuable ammunition on nothing more than trash, the Financial Times reported. The fakes cost about 1,000 Euros to create — a fraction of the $1.1 million missiles used by Russian troops to destroy them. Militaries have long used decoy weapons to outmaneuver their opponents, such as inflatable tanks in WWII and parachuting dummies meant to simulate an airborne invasion leading up to D-Day.
Persons: Organizations: Steelworkers, Service, Financial Times, The steelworkers Locations: Ukraine, Wall, Silicon, Metinvest
The Cuban government says it's cracking down on efforts to recruit citizens to fight with Russia. But Cuba experts say it's likely that Cuba, a longtime Kremlin ally, was involved in these efforts. AdvertisementAdvertisementAndrés Albuquerque, a Miami-based political analyst, said it's also possible Russia worked alongside the Cuban government to recruit citizens. The recruitment in Cuba — as well as similar efforts in June in Kazakhstan — comes as Russia faces a manpower crisis. Just this past June, Cuba's Army Corps General Álvaro López Miera met with his Russian counterpart, Russian Defense Minister Sergei Shoigu, in Moscow.
Persons: Chris Simmons, Simmons, they've, Cuba didn't, it's, Putin, Albuquerque, Cuba —, Fidel Castro, Álvaro López Miera, Sergei Shoigu, Shoigu Organizations: Service, Cuban, Russia, Cuban Ministry of Foreign Affairs, Defense Intelligence Agency, NPR, Defense, Western Military District, New York Times, Times, Kazakhstan —, Cuba's Army, Russian Locations: Cuban, Russia, Cuba, Kremlin, Wall, Silicon, Ukraine, Russian, Albuquerque, Miami, Kazakhstan, Soviet Union, War, Moscow
Among the four charges Donald Trump pleaded not guilty to Thursday was conspiracy against rights. The civil war-era statute was originally passed to stop members of the KKK from terrorizing the formerly enslaved. In this case, it's the right to vote that prosecutors allege Trump threatened by trying to tamper with the 2020 election results in battleground states. The "civil war era statute was used to prosecute folks in the South trying to disenfranchise Black voters," Rahmani added. If convicted of this charge, Trump could face a fine or prison time of up to 10 years, Rahmani said.
Persons: Donald Trump, Trump, Jack Smith, Rahmani Organizations: Capitol, Service, Capitol Riot, Justice, Department of Justice, Ku Klux Klan, Department of Locations: Wall, Silicon, California, Black
Around 30 killer whales were spotted playing in Monterey Bay for more than eight hours on Sunday. Six of the whales were also captured in April attacking adult gray whales in a rare encounter. "It was the best killer whale encounter I've had and I've been studying them for 30 years," Nancy Black, a marine biologist with Monterey Bay Whale Watch and director of the nonprofit California Killer Whale Project, told Insider. Monterey Bay Whale Watch said the gray whales ultimately survived the attack but were badly injured. The unusual playful display comes as killer whales near Spain and Portugal have increasingly been damaging and even sinking boats.
Persons: , I've, Nancy Black, Evan Brodsky, Black, Insider's Joshua Zitser, Daniel Bianchetta, they've Organizations: Service, Sunday, Whale Watch, Whale, grays Locations: Monterey Bay, Monterey, California, Spain, Portugal
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