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Related Video How tech layoffs could affect the economyIn today's newsletter, the $13 billion Omnicom-IPG megamerger reflects a new era as Big Tech and AI upend the ad industry. OmnicomIt's already been a big week for the ad industry. For ad industry insiders, the proposed takeover reflects an ad sector under threat from Big Tech and AI , writes Business Insider's Lara O'Reilly. AdvertisementPrivate equity has been circling the ad industry, too. Industry insiders have speculated for months that WPP could be taken private — or at least some parts of it could be.
Persons: Luigi Mangione, Brian Thompson, Mangione, John Wren, IPG Philippe Krakowsky, Wren, Omnicom It's, Publicis, Snoop Dogg, it's, Insider's Lara O'Reilly, creatives, Simon Francis, Lara, William Ritchie, Blackstone, Chelsea Jia Feng, Jane Fraser, Aaron Neyer, Sylvia Duran, Camila Ferraz, Jenny Chang, Rodriguez, , Jimmy Donaldson, Rupert Murdoch Getty, Rupert Murdoch, Rupert, Lachlan, Murdoch, they've, Elon Musk, Sundar Pichai, Benjamin Netanyahu, Janet Yellen, Hallam Bullock, Grace Lett, Ella Hopkins, Amanda Yen, Lisa Ryan, New York Milan Sehmbi Organizations: Business, Ivy League, Big Tech, Monday, Omnicom, Interpublic, Groupe, WPP, Flock Associates, WY Partners, Apollo, KKR, Industry, Getty, Nvidia, Microsoft, Amazon, Citi, Google, PowerPoint, Elon, Wall Street, Summit Locations: Pennsylvania, Paris, China, bitcoin, MrBeast City, California, Jerusalem, Stockholm, Sweden, London, Chicago, New York
Because you've seen hundreds of PowerPoint presentations since your sixth-grade science-fair days, you instinctively know this one's going to take the full hour. Nearly four decades after the launch of PowerPoint, the slide deck remains one of the most dominant forces shaping how we think — and don't think — about our work. Jeff Bezos, Elon Musk, Sundar Pichai, and military top brass have been bad-mouthing and even banning slide presentations from meetings, instead favoring memos or even old-fashioned, visual-aid-free, raw-dogged discussion. Microsoft estimated that 30 million PowerPoint presentations were being made every day. AdvertisementI hate the way people use slide presentations instead of thinking.
Persons: YYou've, It's, you've, Jeff Bezos, Elon Musk, Sundar Pichai, Edward Norton —, , Norton, Nick Cogan, Steve Jobs Christina Farr, it's, — it's, there's, Edward Tufte, PowerPoint's, Tufte, what's, Steve Ballmer, Steven Ferdman, Steve Jobs, I've, Gilboa, I'm, Zeck, Robert Wolfe, Jeffrey, Edward Norton, they'd, Wolfe, PATRICK T, FALLON, Floyd, Olive, Jennifer Egan's, Egan, Alison Blake's, we're Organizations: Microsoft, Space Shuttle Columbia, Amazon, Los Angeles Clippers, Google, Getty, Space Corporation, Bravo, Goon, NASA Locations: Zeck, OpenAI, BarkBox, storytime, Aviv, Gilboa, CrowdRise
Thousands of Microsoft 365 customers worldwide reported having issues with services like Outlook and Teams on Monday. In social media posts and comments on platforms like outage tracker Downdetector, some impacted said that they were having trouble seeing their emails, loading calendars or opening other Microsoft 365 applications such as Powerpoint. Microsoft acknowledged "an issue impacting users attempting to access Exchange Online or functionality within Microsoft Teams calendar" earlier in the day. Still, the company's status page later added, targeted restarts were "progressing slower than anticipated for the majority of affected users." As of midday Monday, Downdetector showed thousands of outage reports from users of Microsoft 365, particularly Outlook.
Persons: Downdetector Organizations: Microsoft, Twitter
Prosecutors said four of his associates discussed their share of the bribes via Excel and PowerPoint. New York prosecutors charging one of India's richest men with bribery said his associates used Microsoft Excel and PowerPoint to discuss and analyze their corrupt payments. AdvertisementThe Adani Group and attorneys for the other defendants did not respond to requests for comment from BI. Prosecutors said that during this period, the Adani Group falsely told investors at least four times that it had not paid bribes. AdvertisementIn a statement on its website on Thursday, the Adani Group said the prosecution's accusations are "baseless and denied."
Persons: Gautam Adani, Prosecutors, Adani, Sam Bankman, Sagar Adani, Vneet Jaain, Rupesh Agarwal, Agarwal, Cyril Cabanes, Sagar Organizations: Excel, New, Microsoft, Adani, Energy, Power, Prosecutors, New York Stock Exchange, Eastern, of, Adani Group, US Department of Justice, Adani Enterprises, SEC, Wednesday Locations: New York, India, of New York, British, Hong Kong, Indian
New York CNN —Indian billionaire Gautam Adani and other executives were indicted in New York for roles in a multi-billion-dollar fraud scheme, the US Department of Justice said Wednesday. Authorities said Adani and seven other senior business executives, including his nephew Sagar Adani, promised more than $250 million in bribes to Indian government officials to secure solar energy contracts. Worth more than $85 billion, Adani is Asia’s second-richest person behind countryman Mukesh Ambani, according to Bloomberg’s Billionaires Index. The solar energy supply contracts were projected to raise more than $2 billion in profits after tax over an approximately 20-year period. The defendants frequently met and discussed the bribery scheme, including evidence on several phones.
Persons: Gautam Adani, Adani, Sagar Adani, , Lisa Miller, Worth, Mukesh Ambani, Cyril Cabanes, Adani Green, Jeff Bezos –, Hindenburg, Narendra Modi, CNN’s Diksha Madhok Organizations: New, New York CNN, US Department of Justice, Authorities, Adani Group, Indian, DOJ, Securities and Exchange Commission, Adani Green Energy Ltd, Power, SEC, Hindenburg, Bloomberg, Adani Enterprises, CNN Locations: New York
McMillan encourages employees to pitch new AI solutions. AdvertisementAs part of his role, McMillan co-chairs an AI steering group formalized earlier this year, with Global Director of Research Katy Huberty. Related storiesInside the 8-step processAlthough pitching AI solutions is open to anyone at the firm, there is some leg work involved. AdvertisementThe AI steering group meets every other week to listen to the pitches, usually going through five or six proposals. Every other week, the AI steering committee meets to review the status of these projects.
Persons: Jeff McMillan, Morgan Stanley's, Morgan Stanley, McMillan, who's, he's, Research Katy Huberty, AskResearch, you've Organizations: ChatGPT, Global, Research, Workers
AdvertisementAvi Singh and Rishi Rajpal left their stable jobs to open a New York City cocktail bar in 2019. This as-told-to essay is based on a conversation with Avi Singh, 30, and Rishi Rajpal, 34, the co-owners of Sama Street, and David Muhs, 40, the head bartender at Sama Street. We wanted Sama Street to be based on our upbringing and experiences. AdvertisementWe opened Sama Street in 2019David: We learned so much during that process. But Sama Street is in Greenpoint, a very close-knit neighborhood, so our regulars showed up for us.
Persons: Avi Singh, Rishi Rajpal, David Muhs, Jake, Kristyn Cook, Avi, Rishi, Alex Staniloff, David, We've, It's Organizations: Emory, Excel Locations: New York City, Sama, New Delhi, India, Atlanta, New York, Greenpoint
After college, he got a job at a Big 4 consulting firm, but his childhood dream was to make manga. He found success on platforms like Webtoon and ultimately quit his finance job to write full time. WEBTOONI published my first novel when I was 17I started working on writing my first novel when I was 14. I convinced my parents that my webcomic career was sustainableI finally quit my finance job in May 2021. They see everything I'm doing and my passion.
Persons: Brandon Chen, I'm, WEBTOON, , I'd, COVID, Tezuka, it's, Kentaro Miura Organizations: Productions, Big, New York Comic Con, NYU, KPMG, Webtoon Locations: New York City, Instagram, Japan
AdvertisementA 37-year-old manager at Microsoft says AI has changed his workflow. AI reduced his time spent on coding by 70%, and also cut time spent on reading and meetings, he says. Whatever time I'm getting back from leveraging AI, I'm using it for some other work. Once the developers start writing code for these projects and do the actual work, that's where we leverage AI. So that's why developers are using AI wherever they can to reduce their time, but they are using any time saved for other tasks or other features.
Persons: Santhosh Reddy, ChatGPT, Susanne Franz I've, I've, I'm, it's Organizations: Microsoft, Google Locations: OpenAI
Inside Microsoft's struggles with Copilot
  + stars: | 2024-11-15 | by ( Ashley Stewart | ) www.businessinsider.com   time to read: +23 min
In September 2023, Microsoft's famously soft-spoken CEO, Satya Nadella, unveiled the company's flagship AI product, Copilot, with sweeping fanfare. Some of Microsoft's own employees and executives are privately concerned that Copilot won't be able to deliver on its ambitions. Copilot's struggles have created an opening for Microsoft's rivals, some of whom have seized on the opportunity to promote their own agendas. "Now, when Joe Blow logs into an account and kicks off Copilot, they can see everything," said one Microsoft employee familiar with customer complaints. As complaints and questions over Copilot mount, so does the pressure to justify Microsoft's unprecedented level of spending on AI.
Persons: Microsoft's, Satya Nadella, Gartner, Copilot, it'll, Copilot's, Marc Benioff, Benioff, Goldman Sachs, Marc Andreessen, Andreessen Horowitz, Ethan Miller, Jared Spataro, Spataro, , Joe Blow, Joe, Nadella, Gary Marcus, Marcus, Wile, Coyote, Brontë, Judson Althoff, Jason Zander, Zander, We've, OpenAI, Tasos Katopodis, Steve Jobs Organizations: Microsoft, Venture, Getty, Goldman, BI, Fortune, Excel, Lumen Technologies, Honeywell, Gartner, Wall Street, Initiative, Department of Homeland Security, Employees, San Francisco, Software, Apple, Jobs Locations: Microsoft's, Copilot, New York City
Workers are struggling to get a handle on their jobs, and this failure falls on everyone — companies, managers, human-resources departments, and, in some cases, the workers themselves. The chaos has left employers, managers, and employees wondering just how much time and money it's worth investing in training in the first place. It's tough to learn by osmosis over Slack, and the deluge of HR apps and training modules isn't filling in the gaps. As workers and managers are increasingly overextended, these types of unmeasured, softer activities can fall by the wayside. Gavin emphasized that it's not just on companies and managers to make sure employees are learning and getting onboarded but also on individual workers.
Persons: Gen, It's, what's, Gallup, Ana Goehner, Kenneth Matos, Matos, they're, it's, Ashley Herd, nonmanagers, Christy Pettit, Herd, Stephanie Wolf, she's, Wolf, that's, Phoebe Gavin, Gavin, I'd, hadn't, Michelle, Z, they've, Emily Stewart Organizations: Workers, Adobe, doer, Fortune, Business Locations: America, HiBob, RebuttalPR
Amazon plans to integrate its AI chatbot Q with Microsoft's Office 365 service. Amazon Q, launched in April, faces competition from Microsoft's own Copilot AI assistant. At the moment, most Q users access the Amazon AI chatbot through its website, or messaging apps like Slack and Teams. It's part of a set of new Q features Amazon is working on, including a browser extension, the document said. This year alone, he said, Amazon Q has "resolved over 1 million internal Amazon developer questions," saving more than 450,000 hours of work.
Persons: , Patrick Neighorn, Q, Matt Garman Organizations: Microsoft's, Service, Microsoft, Business, Excel, Amazon, AWS, Gartner, LinkedIn Locations: Microsoft's
AdvertisementA year later, I got the opportunity to return to Amazon as a boomerang employee. I'd always been told that a value at Amazon was to treat "the candidate as a customer," but didn't experience that. Related storiesRTO implementation was inconsistentA few weeks later, in May 2024, I accepted a different offer from Amazon for a Nashville-based role on another team I'd applied for. My layoff should've been the writing on the wall — this place has changed — but I clung to the idea of the Amazon I'd once respected, not wanting to recognize what it had become. The Amazon I joined in 2016 thrummed a "fail fast and often" mentality, encouraging risk-taking that led to delightful innovations.
Persons: I'd, , he'd, should've, Andy Jassy, Margaret Callahan, Stephanie Ramos, Jane Zhang Organizations: Amazon, Nashville, LinkedIn's, Companies, Technology Locations: Nashville, Atlanta
How to talk like a banker
  + stars: | 2024-11-03 | by ( Emmalyse Brownstein | ) www.businessinsider.com   time to read: +9 min
A manager might leave a comment on a page telling the junior banker to "kill this," which just means delete it. A manager might also instruct the junior banker to "take another stab" at it, which means doing the presentation over again and sending it back by email. In stock market talk, "trading with the Street" usually means someone is trading along the lines of majority opinion. It's so much a part of the culture that the term is also used by higher-ups to describe their junior bankers professionally. Each time a banker makes changes to client materials pre-meeting — like a deck — it's standard practice for every round of edits or changes to be saved as a new file.
Persons: , That's, Momo Takahashi, Morgan Stanley's Ted Pick, it's, drudge, Jane Organizations: Service
Ken Griffin's market maker, Citadel Securities, is revamping its core trading infrastructure. AdvertisementIn 2023, Citadel Securities COO of technology, Jeff Maurone, was meeting with senior leaders to discuss technology priorities for the year. I almost look at it as the stretching of business," Woods told Business Insider. Building Citadel Securities' trading infrastructure of the futureIn the last few years, Citadel Securities pushed into credit trading, expanded its rates franchise, and introduced an institutional options offering. Maurone's team supports Citadel Securities' technology organization, and he manages a team of 15 people.
Persons: Ken Griffin's, Josh Woods, Jeff Maurone, , Maurone, Woods, Matt Culek, Peng Zhao, Jim Esposito Organizations: Citadel Securities, Service, Securities, McKinsey, Deloitte, COOs, Citadel Securities Each Locations: Asia Pacific, EMEA, COOs —, New York, Jeff's
You have to use the strategy in moderation, and earnestly, for it to be effective, says Abrahams: "People can smell humblebrags." Think about your responsesThoughtfully responding to questions and compliments is an easy way to display humility, according to Abrahams. "When I say, 'I'm still working on my communication skills,' I'm really trying to take pressure off the other person and show that we're in this together," says Abrahams. Avoid being self-deprecating, or your colleagues will feel like you're fishing for compliments, he adds. Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.
Persons: Matt Abrahams, Abrahams, Charlene Li, I'm, Andy Jassy, Jeff Bezos, Jassy, Bezos, you've, it's Organizations: Stanford University, CNBC, Duke University, Amazon
The company uses memos in meetings, which begin with attendees reading them and leaving comments. Amazon's Jeff Bezos famously banned PowerPoints in exec meetings, instead asking for 6-page memos. AdvertisementJeff Bezos' rules for meetings at Amazon have made their way to Dropbox. Dropbox CEO Drew Houston said his company has adopted the "memo-first" meeting culture. Instead, he asks for a 6-page "narratively structured" memo, and the meeting kicks off with attendees silently reading it.
Persons: Dropbox, Amazon's Jeff Bezos, , Jeff Bezos, Drew Houston, you've, Logan Bartlett, Houston, PowerPoints, Bezos, they've Organizations: Service, Amazon Locations: Dropbox
The Nobel committee just entered the AI chat
  + stars: | 2024-10-10 | by ( Allison Morrow | ) edition.cnn.com   time to read: +4 min
When asked by a reporter whether the committee took the AI connection into consideration when judging the nominees, one member on the chemistry committee basically brushed off the question and insisted the decisions were made purely on the science. The Nobel committee letting politics or PR weigh on their decisions? At first glance, it could seem like the Nobel committee has been gulping down Big Tech’s AI Kool-Aid. While gesturing to generative AI, Wong noticed that no one mentioned ChatGPT or Gemini or any other consumer-facing AI tools that companies are peddling. Similarly, in announcing the chemistry prize on Wednesday, committee members talked a lot about amino acid sequences and structural biochemistry.
Persons: CNN Business ’, , John Hopfield, Geoffrey Hinton, — Demis Hassabis, John M, David Baker, CNN’s Jake Tapper, Hassabis, Matteo Wong, Wong, ” Wong Organizations: CNN Business, New York CNN, Princeton, Google, New York Locations: New York, US, Stockholm
A 37-year-old manager at Microsoft says AI has changed his workflow. I still have a full workloadWhile AI has definitely helped with skipping mundane tasks, that's not exactly what my team's work is focused on. Whatever time I'm getting back from leveraging AI, I'm using it for some other work. Once the developers start writing code for these projects and do the actual work, that's where we leverage AI. So that's why developers are using AI wherever they can to reduce their time, but they are using any time saved for other tasks or other features.
Persons: , Santhosh Reddy, ChatGPT, I've, It's, I'm, it's Organizations: Microsoft, Service, Google Locations: OpenAI
Read previewMicrosoft has pressed pause on a major AI overhaul of its popular 365 software suite, according to people familiar with the matter. CEO Satya Nadella and his senior leadership team held executive reviews this summer to consider options that included repackaging new AI features into existing licenses or creating a more expensive bundle with AI capabilities. Other changes Microsoft is considering for its 365 software bundles is a new suite just for security features, the people also said. In recent months, some customers and investors have begun to question the value of generative AI technology, including Microsoft's Copilot AI assistant tool. That's in addition to the monthly cost of Microsoft's 365 software bundles.
Persons: , Satya Nadella, OpenAI's, It's, Judson Althoff Organizations: Service, Business, Microsoft, Chief, Vodafone, Amgen, Microsoft's Productivity, Processes
In reality, the Rat Pack offers regular citizens a crash course in rodent mitigation in hopes of inspiring them to take more active roles in what often feels like an unwinnable battle. AdvertisementThose who join the Rat Pack must complete three activities: a "rat walk" that promises to "uncover the world of urban rats," a two-hour "rat academy" on rodent-prevention methods, and a service project, like a park cleanup. If you seek to understand this rat, Corradi told our group, "you can kind of just hold up a mirror and look at yourself." Related storiesCorradi, recognizable from various press appearances and her navy Rat Pack hat, is supposed to offer New Yorkers additional peace of mind. And yet I secured my precious Rat Pack merch by doing exactly that.
Persons: Andrew Barrett, He's, Barrett, Eric Adams, Kathleen Corradi, Brooklyn's Herbert Von King, wouldn't, Corradi, haven't, Adams, Michael Parsons, we've, doesn't, there's, We've, , I'd, shrugged, You'll Organizations: NYC, Cub Scouts, Anadolu Agency, Washington DC, Anadolu Locations: Brooklyn, Yorkers, New York, New York City, Chicago, Brooklyn's Chinatown, West Harlem
Over the course of about 10 years at the company, Vashi worked his way up from an entry-level consultant role to vice president. It all paid off in June 2022, when Anaplan was acquired by private equity company Thoma Bravo at a roughly $10.4 billion valuation. Here are five tips on how to negotiate for more equity at work, according to Vashi:1. "The best way to secure equity compensation is to make yourself extremely important to the company," he said. When it comes to employees, it is "all based on [their] contributions, either actual contributions or expected contributions," Vashi said.
Persons: Bhavik Vashi, Vashi, Anaplan, Thoma, they've Organizations: University of California, CNBC, Thoma Bravo, Asia Pacific, Carta, Employees Locations: Valley, Berkeley, Silicon Valley, Middle East
It was a ballerina shoe brand we built up as a hobby while we had finance jobs and distributed online. AdvertisementWe spend a lot of our resources taking plastic out of the oceans, and from a human perspective, we've built a platform for artists and musicians. During the pandemic, we went to the US and started building relationships. When we launched LØCI in 2021 we had no money but a dream of building a sneaker brand. Building a brand takes time — you're on a journey and you must ride it out no matter how difficult it gets.
Persons: , Emmanuel Eribo, I'm, Harley Viera, Dave Benett, LØCI LØCI, we've, Charlotte, David M, We've, Leonardo DiCaprio, Nicki Minaj, I'd, I've, We're, everybody's Organizations: Service, Business, HSBC, Soho House Locations: Soho, London
But the Llanez family never learned whether Gonzalez had followed ICE training protocols, because the way ICE agents are trained has been largely hidden from the public. For years, civil-rights groups have sought to obtain, with limited success, complete ICE training documents to understand how that training affects use of force by agents in the field. And they also appear to place an emphasis on teaching ICE agents how to justify the use of force. Among the most important lessons ICE agents receive is when and how to use deadly force. One of the questions asks which steps an officer must take before initiating deadly force; the answer is "None, deadly force can be initiated immediately."
Persons: Ronaldo Gonzalez, Gonzalez, Fernando Llanez, Llanez, Jorge Hernandez, weren't, Hernandez, Miguel Alvarez, Ivón Padilla, " Alvarez, FLETC, Gonzalez didn't, Alvarez, isn't, John Bostain, Jim Trainum, Phillip Causey, Gabino Ramos Hernandez, Ramos, Causey, we're, Timothy Cerniglia, Cerniglia, You'll, we'll, Trainum, Christian Rodriguez Organizations: Type Investigations, Immigration, Business, ICE, Court, Southern, Southern District of, Investigations, of Homeland Security, University of Illinois Chicago, Federal, Training Centers, Department of Homeland Security, Federal Law, Department of Justice, Citizens, DHS, Metropolitan Police Department, Mississippi Bureau of Investigation Locations: Chula Vista , California, Chula Vista, Southern District, Southern District of California, Charleston , South Carolina, Glynco, Georgia, Washington ,, Laurel , Mississippi, Southern District of Mississippi, Mississippi
CNN —Members of the grand jury in Arizona that indicted 18 allies of Donald Trump earlier this year for their alleged roles in attempting to overturn the 2020 election had also expressed interest in charging the former president, according to a new court filing. The interest was strong enough that it prompted the state’s lead prosecutor to request that the grand jury not indict the former president and give a PowerPoint presentation to explain his reasoning. Prosecutors cited two primary reasons for why the grand jury should not charge Trump: a lack of evidence and a US Justice Department policy they believe would hamper charges against a former president. The policy cited by prosecutors deals with DOJ guidelines limiting how the federal government can prosecute individuals already charged with similar crimes at the state level. That’s why you do not see that,” the state prosecutor told the grand jury.
Persons: Donald Trump, Trump, Joe Biden’s, Jack Smith, Fani Willis, Rudy Giuliani, Mark Meadows, “ Unindicted, , Meadows, indicting Trump, I’ve, Willis Organizations: CNN, Fulton, White House, Trump, Prosecutors, US Justice Department Locations: Arizona, Georgia, Fulton County
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