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☆ VCs are fighting, investors are annoyed, and the presidential election has become a constant distraction that Silicon Valley just wants to be over
▼ + stars: | 2024-08-24 | by ( Ben Bergman | Melia Russell | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. She didn't sign, not because she doesn't support Harris (she does) but because she sees no upside in broadcasting her political intentions. The former president has also received endorsements from famous VCs Marc Andreessen, Ben Horowitz, Doug Leone, and David Sacks. Now, executives are waiting until after the election concludes to make any decision, according to a source familiar with the matter. Publicly supporting candidates has no upside for LPs, especially considering many LPs have their own agendas, added a VC.

Persons: —, Kamala, Kamala Harris, Harris, We're, Joe Biden, David Hornik, Israel —, There's, Leslie Feinzaig, VCs, Elon Musk, Trump, Marc Andreessen, Ben Horowitz, Doug Leone, David Sacks, Reid Hoffman, Reed Hastings, Ron Conway, Graham, Walker, MAGA, they're, Divya Kakkad, Sacks, Jesse Middleton, Middleton, Cameron Lester, Lester, tradespeople, ServiceTitan, I've Organizations: Service, Business, San Francisco, Lobby Capital, August, Republicans, Israel, Netflix, Graham, Craft Ventures, Jefferies, Publicly Locations: San, Silicon Valley, Los Angeles, Bay, New York

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

Signs of a slowing U.S. economy sowed panic among investors on Monday, with a sell-off in markets that began last week turning into a global rout. The moves were a sharp reversal in major stock markets, which for much of the past year have risen to new heights, propelled by optimism about cooling inflation, solid labor markets and the promise of artificial intelligence technology. South Korea’s benchmark Kospi index fell more than 10 percent at one point. Japanese stocks have been on a tear for more than a year, fueled by a weak Japanese yen. Adding to the pressure, foreign investors have started selling off positions in Japanese stocks over the last few weeks.

Persons: ”, Andrew Brenner, Goldman Sachs, Goldman, Jordi Basco Carrera, ’, Basco Carrera, Jitters, Jesper Koll, Koll, John Liu, Melissa Eddy Organizations: Federal, Nasdaq, National Alliance Securities, Equity, Technology, Samsung Electronics, Taiwan Semiconductor Manufacturing Company, Nvidia, Intel, Allianz, Monex, Bank of Japan, Tokyo Stock Exchange Locations: Asia, Europe, Americas, Japan, U.S, Taiwan, Singapore, Australia, Hong Kong, China, Stocks, India, Netherlands, Switzerland, New York, Munich, “, New, Seoul, Berlin

☆ Advice: When the Stock Market Drops, Stay Calm and Do Nothing
▼ + stars: | 2024-08-05 | by ( Ron Lieber | More About Ron Lieber | ) www.nytimes.com time to read: 1 min

The markets are in turmoil, but you know what you’re supposed to do now, right? Let’s all take a deep breath, tie our hands behind our backs and say it together: We will not sell stocks in a panic. Many of the people who are trading today are professional investors of various sorts. Here’s a dirty little secret about, say, hedge funds: All of their trading in reaction to world events doesn’t lead most of them to do better than sticking their money in an index fund that tracks the stock market. Remember, much of the money you have in the stock market is probably for retirement anyhow.

Persons: It’s Organizations: Mutual

☆ Cuando la Bolsa cae, mantén la calma y no hagas nada
▼ + stars: | 2024-08-05 | by ( Ron Lieber | ) www.nytimes.com time to read: 1 min

Traders work on the floor of the New York Stock Exchange on Monday. Credit... Spencer Platt/Getty Images

Persons: Spencer Platt Organizations: New York Stock Exchange, ., Getty

☆ Park Fire near Chico, California, destroys over 100 buildings as wildfire ravages Jasper in Canada
▼ + stars: | 2024-07-27 | by ( Dalia Faheid | ) edition.cnn.com time to read: +9 min

Cool temperatures are expected to calm fire behavior, which will help the 154 firefighters in Jasper fight the blaze, Jasper National Park said on Facebook Friday night. Two wildfires converged in the Jasper National Park area, becoming what authorities are referring to as the Jasper Wildfire Complex. Together, the fires have swallowed an estimated 89,000 acres, the Jasper National Park said. An evacuation order remains in effect for Jasper and Jasper National Park, with the vast majority of evacuees being visitors, officials said. Along with about 5,000 residents who live in the town, 2.48 million people visited Jasper National Park last year.

Persons: CNN —, Gavin Newsom, Billy, Ronnie Dean Stout, “, ” Stout, Justin Trudeau, Jasper, Sherry Alpers, Noah Berger, Tim Ferguson, KOVR, “ We’ve, we’ve, ” Ferguson, Lauri Schwein, ” Ron Lassonde, KCRA, ”, Kory Honea, you’ve, Norm Rosene, “ It’s, Dan Collins, Amber Bracken, we’ll, ” Karyn Decore, Richard Ireland Organizations: CNN, Western, Cal Fire, DA, •, Malheur National, Jasper National, Facebook, Rockies, National Weather Service, Fire, Camp Fire, KCRA, Animal, Triple, Cal, The Canadian Press, AP, Jasper, CTV News, CBC Locations: Los Angeles, Western United States, Canadian, Butte, Tehama, Sacramento , California, • California, Oregon, Malheur, Malheur National Forest, Jasper, Alberta, California, U.S, Chico , California, Chico, Butte County, Paradise, “, ”, Jasper , Alberta, Canada, Ireland

☆ 5 takeaways from the opening ceremony of the 2024 Paris Olympics
▼ + stars: | 2024-07-26 | by ( Kyle Feldscher | ) edition.cnn.com time to read: +9 min

Paris shows offIt wasn’t exactly the night that Paris 2024 organizers would have hoped for (more on that in a moment). Celine Dion returns in stunning fashionThis handout released by the Olympic Broadcasting Services, shows a view of singer Celine Dion performing on the Eiffel Tower during the opening ceremony of the Paris 2024 Olympic Games Paris 2024 on July 26, 2024 in Paris, France. Musicians from Gojira, a heavy metal band, perform during the opening ceremony of the Paris 2024 Olympic Games in Paris, France, on July 26. A most magnificent cauldron lightingThe torchbearers French former sprinter Marie-Jose Perec and French judoka Teddy Riner arrive to light the Olympic cauldron during the opening ceremony of the Paris 2024 Olympic Games in Paris on July 26, 2024. Mohd Rasfan/AFP/Getty ImagesThe 2024 Games promised an opening ceremony unlike any other and it delivered – including on the incredible cauldron lighting.

Persons: Marie, Lady Gaga, Franck Fife, –, Celine Dion, Dion, ”, Marie Antoinettes, Zhang Yuwei, John Lennon’s “, Jose Perec, Teddy Riner, Mohd Rasfan, Zinedine Zidane, Rafael Nadal, Serena Williams, Nadal, Carl Lewis, Tony Parker, José Pérec, Sandee LaMotte Organizations: Paris CNN, Olympic Games, of, Nations, Eiffel, of Nations, Olympic Broadcasting Services, Paris, IOC, US Food and Drug Administration, Gojira, Olympic, Getty, Games Locations: Paris, of Light, Seine, France, French, AFP

☆ Kamala Harris has a golden opportunity to pull Silicon Valley away from Trump and Vance
▼ + stars: | 2024-07-26 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

The US President endorsed his current vice president, and many prominent Democrats, including Barack Obama, have followed his lead. Money has been pouring into Harris's campaign, and the vice president has already begun campaigning against former president Donald Trump. With Vance by his side, Trump has been trying to woo Silicon Valley away from Biden. Notably, the vice president hasn't taken a strong stance on cryptocurrency, but some expect her to become more pro-crypto than Biden. Meanwhile, with support from pro-crypto running mate JD Vance, Trump has announced he plans to be the first "crypto president."

Persons: —, Kamala Harris, Harris, Joe Biden's, Barack Obama, Donald Trump, Sheryl Sandberg, Trump, JD Vance, David Sacks, Peter Thiel, Vance, Thiel, Elon Musk, Aaron Levie, techies, Sean Parker, Tony West, Kamala, she's, Ron Conway, Chiente Hsu, Biden, She's, Hsu, Reed Hastings, Levie, hasn't, Nigel Green Organizations: Service, Democratic, Business, PAC, Politico, VC, Biden, Facebook, Big Tech, Biden Administration, Democratic Party, deVere Group Locations: Silicon, California, Oakland, Bay, Harris, FTX

☆ 4 steps single parents can take if dating has been a hard transition for your child
▼ + stars: | 2024-07-25 | by ( Cailey Griffin | ) www.businessinsider.com time to read: +5 min

Dating comes with enough challenges already, and dating as a single parent can feel even more daunting. You have to consider how the romantic connections you form will impact not only your life but also that of your child. If your child is having difficulty adapting to a new partner's presence in your life, it may raise some initial concerns. However, there are steps you can take to make that transition a little easier. Try to understand the emotions your child is feelingYour child may be feeling a range of emotions after meeting your partner.

Persons: Laura Markham, Ron L, SmartStepfamilies.com, Samantha Rodman Whiten, it's, Deal, you've, Whiten, Markham Organizations: Service, Business, Deal

☆ Kamala Harris wants to be America’s first Silicon Valley president. She has tech’s support
▼ + stars: | 2024-07-25 | by ( Clare Duffy | ) edition.cnn.com time to read: +5 min

New York CNN —With Vice President Kamala Harris the front runner to receive the Democratic Party’s nomination for president, America’s most powerful industry is set to have a candidate on the ballot from its home turf. Harris’ failed 2020 presidential bid received support from various tech luminaries, including Salesforce CEO Marc Benioff and legendary venture capitalist Ron Conway. Despite her friendly relationships with the industry’s leaders, Harris has also pushed for tech accountability in key areas. As vice president, Harris has taken a key role in the White House around establishing safety measures for artificial intelligence, which is widely viewed as the most consequential new technology in decades. In an interview with CNN, Hoffman added: “In Silicon Valley, actually there’s many threads that are very excited about her.

Persons: Kamala Harris, Harris, Sheryl Sandberg, Reed Hastings, Melinda French Gates, Donald Trump’s, Elon Musk, “ There’s, Biden, ” Aaron Levie, “, ” Harris, Sean Parker, she’s, Steve Jobs ’, Laurene Powell Jobs, Harris ’, Marc Benioff, Ron Conway, Mark Zuckerberg, ” Jeffrey Sonnenfeld, Trump Harris, Trump, ” Sonnenfeld, I’ve, didn’t, ” Levie, “ Kamala Harris, Reid Hoffman, Hoffman, …, – CNN’s Matt Egan Organizations: New, New York CNN —, Democratic, Bay Area, Netflix, White, CNN, Cambridge, OpenAI, Google, Microsoft, Yale School of Management, Trump Locations: New York, Oakland , California, California, White, Silicon Valley, Silicon

☆ Why Paper Checks Refuse to Die
▼ + stars: | 2024-07-24 | by ( Ron Lieber | ) www.nytimes.com time to read: +1 min

Target stopped accepting personal checks as a form of payment this month, which might inspire the following question: What took so long? Check fraud has more than doubled in recent years, and it costs at least a dollar for businesses to process each check they receive. In many industries, checks continue to be a popular form of payment, and sometimes they are required. According to consumer survey data from the Federal Reserve Bank of Atlanta, which tracks the percentage of payments that consumers make by check, the following industries receive the most check payments: Contractors, like electricians and plumbers, get 25 percent of their payments by check. Landlords, government taxing authorities and professional-service firms also receive double-digit percentages of their payments by check.

Organizations: Federal Reserve Bank of Atlanta

☆ A Money Guru Bet Big on a Very Long Life. Then He Got Cancer.
▼ + stars: | 2024-07-13 | by ( Ron Lieber | ) www.nytimes.com time to read: +1 min

Most of us will live an amazingly long life and should not worry so much about dying young. Those are the words of Jonathan Clements, 61, who wrote more than 1,000 personal finance columns for The Wall Street Journal between 1994 and 2015. Plan on living past 90 and save accordingly, he advised, when he wasn’t running marathons or riding bicycles. Scans revealed a golf-ball-size tumor on his lung, and the disease has spread to his brain, his liver and elsewhere. He has already turned his horrible luck into crisp prose, filled with bold-font takeaways on his website, humbledollar.com.

Persons: Jonathan Clements, “ I’m, ”, Clements Organizations: Wall

☆ Things to Take to College That You Can’t Buy at Target
▼ + stars: | 2024-07-04 | by ( Ron Lieber | Tara Siegel Bernard | ) www.nytimes.com time to read: 1 min

Extra-long sheets. The wall hooks and putty that hold things up but don’t leave marks. Most colleges provide a list of things that new students might bring if they’re living on campus, and most big-box stores stock all of it and then some. But there’s another list you may want to consider, containing things that aren’t at the end of any Target aisle or on anyone’s Amazon wish list. And how about some midnight pizza facilitation?

☆ It’s Fine if Investing Bores You. Some Money Pros Feel the Same Way.
▼ + stars: | 2024-06-22 | by ( Ron Lieber | ) www.nytimes.com time to read: +1 min

For a certain type of money professional, there is a particular question that is decidedly unwelcome, and it tends to come up in a variety of social settings: Got any hot investment tips? To the financial advisers who feel this way and those in similar lines of work, investing is necessary, but it may not be particularly interesting and it doesn’t spark a whole lot of joy. But to them — and perhaps to you, too — investments are simply a tool that helps people achieve their most meaningful goals. And helping people define those goals and then achieve them is what makes the job satisfying. In fact, it may be the healthiest way to think about money management, whether you manage your own finances or are trying to find someone to work with who feels the same way.

☆ The Best Way to Get a Refund When Your Airline’s Wi-Fi Is Terrible
▼ + stars: | 2024-06-08 | by ( Ron Lieber | ) www.nytimes.com time to read: 1 min

When an airline sells you a service, you should be able to receive a refund if it doesn’t deliver. I asked this question last week when I had serious trouble connecting to Wi-Fi during an American Airlines flight. I figured that the nuisance of getting the money back would cost more than $17 of time and aggravation. Turns out I was wrong, according to over 100 readers who set me straight after I asked for advice in our weekly Your Money newsletter. Nearly everyone who asked for a refund when the Wi-Fi didn’t work properly got the money back.

Organizations: American Airlines

☆ When a Bank Rescinds a Job Offer Because It Canceled Your Credit Cards
▼ + stars: | 2024-06-06 | by ( Ron Lieber | ) www.nytimes.com time to read: +1 min

Customers would get a call from the bank, or their A.T.M. cards would stop working and then their credit cards would freeze as well. One question that lingered was what the long-term ramifications would be for those whose accounts were closed. Thankfully, people who had experienced this usually weren’t blacklisted from opening accounts at other banks, even if their former bank told them that it would never take them back. But what if you tried to work at a bank that had kicked you out?

Persons: Tara Siegel Bernard, JPMorgan Chase, Mansoor Shams Organizations: JPMorgan, Marine, Apple Locations: Baltimore

☆ Alphabet's new CFO was in the middle of the GLP-1 boom. Now she's onto generative AI
▼ + stars: | 2024-06-06 | by ( Jennifer Elias | ) www.cnbc.com time to read: +10 min

Alphabet announced on Wednesday that Eli Lilly Chief Financial Officer Anat Ashkenazi will be its new CFO after an almost year-long search. Shares of Eli Lilly have soared 90% in the past year and are trading at a record. When she joined Eli Lilly in 2001, she came in through the company's new venture capital division, which was co-founded by her then-spouse Ron Laufer. Fastest growth in decadesFounded in 1876, Eli Lilly has long been one of the major U.S. pharmaceutical companies. But the last couple years have marked a period of historic growth for Eli Lilly due to the exploding popularity of GLP-1s.

Persons: Anat Ashkenazi, Eli Lilly Eli Lilly Alphabet's, Ruth Porat, Eli Lilly, Ashkenazi, it's, Eli Lilly's, David Ricks, Morgan Stanley, Sundar Pichai, Hollie Adams, Ron Laufer, John Smiley, Eli, It's, Trump, Eli Lilly's Covid, we're, Askhenazi, OpenAI's, Larry Page, Sergey Brin, CNBC's Eric Rosenbaum, Toby Lyles Organizations: San, San Francisco Bay Area, Google, Economic, Bloomberg, Getty, CNBC, Tel Aviv University, Hebrew University, U.S . Food, Drug, U.S . Department of Justice, FDA, Reuters, Employees, NBC Locations: U.S, Indiana, San Francisco Bay, Davos, Switzerland, Israel, biopharma, North Carolina, Germany, New Jersey

☆ How a Retirement Withdrawal Can Lead to a Perjury Conviction
▼ + stars: | 2024-06-01 | by ( Ron Lieber | ) www.nytimes.com time to read: +1 min

Sometimes, it’s illegal to spend money that you set aside for yourself. When you save money in many types of workplace retirement accounts, the Internal Revenue Service doesn’t collect income taxes on that money until it’s time to take it out, when you’re older. But you must have a very good reason, and you definitely can’t lie about it. Last week, a sentencing hearing took place after a rare case involving this sort of legal violation. Ms. Mosby will spend up to 12 months in home confinement, absent a successful appeal or a presidential pardon, which she has requested.

Persons: Marilyn Mosby, Freddie Gray, Mosby Organizations: Internal Revenue Locations: Baltimore, Florida

☆ The High-Class Problem That Comes With Home Equity
▼ + stars: | 2024-05-19 | by ( Ron Lieber | ) www.nytimes.com time to read: 1 min

A lot of money is tied up in people’s homes. Those who need to tap it most, however, may have the hardest time doing so. That money — plus appreciation in the home’s value — now equals $31.8 trillion for all households, according to the Federal Reserve, more than three times what it was in 2012. As a result, some homeowners end up with a lot of home equity but low retirement savings. Home equity?

Organizations: Federal Reserve

☆ Meeting Yourself Where You’re At
▼ + stars: | 2024-05-14 | by ( Ron Lieber | ) www.nytimes.com time to read: +1 min

If you’re already in the work force, we have you covered. But no matter what situation you’re in, here’s the most important piece of advice: Ask for help. You’re not alone in your confusion, and there is no shame in raising your hand and asking a question (or 20). If You’re Already WorkingYour salary is your salary, at least for now. This will make it easier to ask for a raise, something my colleague, Tara Siegel Bernard, has written about in the past.

Persons: you’re, We’ve, You’re, you’ve, Tara Siegel Bernard

☆ Can Your Investment Portfolio Reflect Your Values?
▼ + stars: | 2024-05-11 | by ( Ron Lieber | ) www.nytimes.com time to read: +1 min

The protests roiling college campuses are filled with all sorts of demands, but many of them have one thing in common: money. Many pro-Palestinian protesters want their school’s endowments to pull money from investments in companies that have financial ties to Israel. We all want to live our values and have our colleges, employers and communities do so, too. We saw similar protests in the 1970s and ’80s with South Africa and in the continuing debate over climate change. Students, especially, can learn a lot about investing, governance and complexity through trying to influence their schools.

Organizations: South Locations: Israel, South Africa, Gaza

☆ How to Make Retirement Less Scary
▼ + stars: | 2024-05-09 | by ( Ron Lieber | ) www.nytimes.com time to read: 1 min

It’s easy to get caught up in the math before knowing what you want out of this phase of life. At first, I had all sorts of harebrained schemes.

☆ Sign Up for Your Money’s Financial Boot Camp for 20-Somethings
▼ + stars: | 2024-05-06 | by ( Mike Dang | More About Mike Dang | ) www.nytimes.com time to read: 1 min

It’s graduation season, which is a good time for people in their early 20s to start thinking about how to get a better handle on their finances. How do you balance paying off student debt with saving for the future? What’s the best way to create a proper budget? Very few people have their finances perfectly in order while figuring out their lives and careers in their 20s. We’ve put together a five-day financial boot camp for people in their 20s to get them thinking about jobs, budgeting, saving and tackling debt.

Persons: We’ve, Ron Lieber, Tara Siegel Bernard, Mike Dang

☆ You Finished I.V.F. and Want to Donate Embryos. Is There a Tax Benefit?
▼ + stars: | 2024-04-20 | by ( Ron Lieber | ) www.nytimes.com time to read: +1 min

But a few unusual ones linger for people all over who want to explore every option. What does the law say about what you can and can’t do with your embryos? And if you donate them — say, to a university for research — can you take a tax deduction? It is not clear how many human embryos sit in storage across the United States, but plenty of people who put them there worry about losing control over them. Selling embryos seems outlandish, though it may not violate federal law.

Persons: Tara Siegel Bernard, I, — Organizations: Alabama, Transplant Locations: United States, Alabama

☆ Some Colleges Will Soon Charge $100,000 a Year. How Did This Happen?
▼ + stars: | 2024-04-05 | by ( Ron Lieber | ) www.nytimes.com time to read: +1 min

It was only a matter of time before a college would have the nerve to quote its cost of attendance at nearly $100,000 a year. One letter to a newly admitted Vanderbilt University engineering student showed an all-in price — room, board, personal expenses, a high-octane laptop — of $98,426. Only a tiny fraction of college-going students will pay anything close to this anytime soon, and about 35 percent of Vanderbilt students — those who get neither need-based nor merit aid — pay the full list price. But a few dozen other colleges and universities that reject the vast majority of applicants will probably arrive at this threshold within a few years. Their willingness to cross it raises two questions for anyone shopping for college: How did this happen, and can it possibly be worth it?

Persons: — Organizations: Vanderbilt University, Vanderbilt Locations: Los Angeles, London, Nashville

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