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☆ From bouldering to silent meditation retreats: Here's how this year's rising stars of VC are keeping their wellness on track while hunting down deals
▼ + stars: | 2023-12-01 | by ( Samantha Stokes | Madeline Renbarger | Ben Bergman | ) www.businessinsider.com time to read: +6 min

And these rising stars of the VC world are at the forefront of the trend, with many adopting various wellness routines. Business Insider asked this year's rising stars to name their best wellness hack that keeps them at the top of their game. Find ways to get movingMany rising stars in VC have a relationship with exercise that goes beyond an obligatory hour at the gym or a forced jog around the block. "It's amazing how taking just 10 minutes out of my day helps set the pace and structure for the rest of the day so well," she told Business Insider. she told Business Insider.

Persons: Base10, Justin Williams, Fiona Huang, Huang, Laura Bock, Amanda Herson, Taylor Brandt, Luci Fonseca, It's, Vivien Ho, VCs, journaling, Ashley Paston, Ahmed Mirza, who's, Amber Atherton, Brandon Hoffman, Tobi Coker, Wellington Management's Javier Grevely, Natalie Borowski, I've Organizations: Business, Seae Ventures, Ventures, Headline, Base10 Investors, Meritech, Sunset Ventures Locations: New York, Eastern, Brooklyn

☆ An open letter to ChatGPT on its first birthday
▼ + stars: | 2023-12-01 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

You were born into this world only a year ago, but you’ve already accomplished so much in your 12 short months on this planet. Our kind — the human kind — have only seen a glimpse of your ultimate power. And we’ve only felt the slightest touch of the eventual consequence that your kind will have on our world. ChatGPT, you might only be one, but you’ve already upended the world and sent thrills and chills coursing through the human race. It’s frightening to think about what you’ll do by your second birthday.

Persons: you’ve, Sam Altman Organizations: CNN Locations: Silicon Valley, Hollywood

☆ Henry Kissinger's puzzling connection to disgraced Theranos founder Elizabeth Holmes
▼ + stars: | 2023-12-01 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

Kissinger's business dealings included close involvement with Theranos and Elizabeth Holmes. Once a board member at Theranos, he invested $3 million and recruited others who also opened up their wallets. AdvertisementFormer US Secretary of State Henry Kissinger's troubled legacy includes his involvement with failed blood-testing startup Theranos and its now-imprisoned founder, Elizabeth Holmes. Federal agencies ran investigations into Theranos, and in 2018, Holmes stepped down as CEO and the startup later shuttered. "When I was introduced to Elizabeth by George Shultz, her plan sounded like an undergraduate's dream," he wrote, referring to the former Secretary of State and Theranos board member.

Persons: Henry Kissinger, Theranos, Elizabeth Holmes, —, Henry Kissinger's, Kissinger, State George Shultz, William Perry, Sam Nunn, Richard Kovacevich, William H, Daniel Mosley, Holmes, Cox, Walton, Elizabeth, George Shultz Organizations: Service, State, Wells, Wall Street, Federal Locations: Theranos, Connecticut, Silicon, Bryan , Texas

☆ We're updating price targets for 6 stocks and changing our rating for Palo Alto
▼ + stars: | 2023-12-01 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

The Club on Friday is changing the rating and price target on one of our favorite stocks, and updating the price targets on 5 other names in the portfolio to reflect recent quarterly earnings reports, new developments at the companies and broader economic forces. We're increasing our price target on shares of Palo Alto (PANW) to $300 from $280. We're raising our price target on shares of Salesforce (CRM) to $275 from $240. We're lowering our price target for Ford (F) stock to $13 from $16. We're lifting our price target on shares of Eli Lilly (LLY) to $630 from $600.

Persons: PANW, Ford, Linde's, Linde, Eli Lilly, it's, It's, Jim Cramer's, Jim Cramer, Jim Organizations: Palo, Palo Alto Networks, Costco, Ford, UAW, Management, Motors, GM, Linde, LIN, P Healthcare, donanemab, Novo Nordisk, Pfizer, CNBC Locations: Alzheimer's, Lilly, Santa Clara , California

☆ OpenAI investor Vinod Khosla, who's 68, says he still works 80 hours a week and plans to keep investing for the next 25 years
▼ + stars: | 2023-12-01 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

OpenAI investor Vinod Khosla said he still works 80 hours a week during an episode of "The Cerebral Valley Podcast." AdvertisementVinod Khosla, a Silicon Valley investor for almost 40 years, said in the past that he works 80-hour weeks. In 2004, he started his own VC firm he called Khosla Ventures, which backed companies like Instacart, Impossible Foods, and DoorDash. Over the last three months, Khosla Ventures has made multi-million dollar bets on startups in the beverage, insurance, and climate tech space, according to Pitchbook. AdvertisementKhosla didn't immediately respond to Business Insider's request for comment made through Khosla Ventures.

Persons: Vinod Khosla, —, Eric Newcomer, Khosla, Peter Thiel, I've, Warren, he's, Kleiner Perkins Caufield, Byers, toils, Elon Musk, Steve Squeri Organizations: Service, Khosla Ventures, Foods, Tesla, American Express, Financial Times Locations: Silicon, OpenAI

☆ Inside Apple’s chip lab, home to the most ‘profound change’ at the company in decades
▼ + stars: | 2023-12-01 | by ( Katie Tarasov | ) www.cnbc.com time to read: +13 min

Its most advanced silicon is primarily manufactured by one vendor, Taiwan Semiconductor Manufacturing Company. "We built what we call the unified memory architecture that is scalable across products," Srouji said. Apple's silicon team has grown to thousands of engineers working across labs all over the world, including in Israel, Germany, Austria, the U.K. and Japan. The primary type of chip Apple is developing is known as a system on a chip, or SoC. Apple's senior director of hardware validation Godfrey D'Souza shows off an M3 SoC in an Apple chip lab in Cupertino, California, on November 14, 2023.

Persons: John Ternus, Srouji, we're, Katie Tarasov, Andrew Evers, Ben Bajarin, Bajarin, Apple, Apple there's, Pro Max, Kaiann Drance, That's, who's, Ternus, Nvidia —, Tesla, Stacy Rasgon, Apple's, Godfrey D'Souza, Sydney, they've, Rasgon, Apple's Srouji, It's Organizations: AMD, MU, Apple Watch, U.S, Apple, Intel, Taiwan Semiconductor Manufacturing Company, Microsoft, CNBC, Apple's, Amazon, Google, Tesla, Semiconductor, Creative, Pro, Triple, MacBook Air, Qualcomm, Nvidia, Bernstein Research, Sydney Boyo, Bluetooth, Broadcom, Samsung, Micron, Thursday Apple Locations: Cupertino , California, Israel, Germany, Austria, Japan, Silicon Valley, San Diego, Austin , Texas, AirPods, Taiwan, China, Arizona, Peoria , Arizona, Asia, Europe, U.S

☆ Norway sovereign wealth fund to co-lead class action in SVB bankruptcy
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

Silicon Valley Bank (SVB) logo is seen through broken glass in this picture illustration taken March 16, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOSLO, Dec 1 (Reuters) - Norway's $1.5 trillion sovereign wealth fund, the world's largest, said on Friday it has been appointed by a U.S. court to co-lead an ongoing U.S. securities class action relating to the now-bankrupt Silicon Valley Bank (SVB). The Norwegian fund said the SVB case raised significant concerns regarding the integrity of the public markets, the governance of large financial institutions and the interests of the investor community more broadly. It held a 1% stake in SVB at the end of 2022, valued at $137.9 million, according to data on the fund's website. The other co-lead plaintiff in the class action is Swedish pension fund Sjunde AP-fonden (AP7), the Norwegian fund said.

Persons: Dado Ruvic, Nicolai Tangen, Nerijus Adomaitis, Jane Merriman, Kirsten Donovan Organizations: Bank, REUTERS, Rights, fund's, Thomson Locations: Rights OSLO, U.S, SVB, Swedish

☆ A year after ChatGPT’s release, the AI revolution is just beginning
▼ + stars: | 2023-11-30 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +11 min

Seemingly overnight, the user-friendly generative AI technology enraptured the globe. It also promised to revolutionize the future of white-collar work — so long as it didn’t cause an AI apocalypse in the process. ‘The world woke up to the AI revolution’And one year since ChatGPT’s public release, the fervor around AI is still at a fever pitch. And AI’s long-prophesied impacts to the labor market is also beginning to emerge, both inside and outside the tech industry. “Many, many, many jobs that are currently done by humans, AI will be able to do,” said Clune, the AI researcher at the University of British Columbia.

Persons: New York CNN —, Sam Altman, ChatGPT, ” Jeff Clune, hasn’t, ” Clune, ”, OpenAI’s, Jakub Porzycki, Suresh Venkatasubramanian, ” Venkatasubramanian, “ It’s, it’s, Venkatasubramanian, Clune, we’re, ChatGPT’s, OpenAI, David Paul Morris, “, CNN’s Kara Swisher, Altman, —, ” Altman Organizations: New, New York CNN, Big Tech, Tech, University of British, CNN, ChatGPT’s, Brown University, Economic Cooperation, Bloomberg, Getty, Microsoft — Locations: New York, University of British Columbia, Krakow, Poland, OpenAI, Asia, San Francisco , California

☆ JPMorgan's Jamie Dimon says he isn't afraid of China, but would leave if the US government told him to
▼ + stars: | 2023-11-30 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

JP Morgan boss Jamie Dimon said at NYT's Dealbook conference the bank would leave China if ordered to. AdvertisementJamie Dimon says he's not "afraid" of China — but that JP Morgan would leave if the US government told it to. "If the American government makes me leave China, I'm leaving China. Tensions between China and Taiwan, which China regards as a breakaway province, have been growing . That poses a challenge to firms like JP Morgan, which has been active in China for a century and has expanded its presence there in recent years.

Persons: Morgan, Jamie Dimon, Dimon, —, he's, JP Morgan, Biden, I'm Organizations: CNBC, Service, The New York Times, Business Locations: China, Taiwan, I'm

☆ Two Amazon and Netflix alums have raised $1 million for their fintech startup that aims to disrupt entertainment and production financing
▼ + stars: | 2023-11-30 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Conduiit, a fintech startup that promises to save entertainment companies time and money by centralizing their production finance operations, has raised $1 million in pre-seed funding. He saw how production companies were using a hodgepodge of services to manage day-to-day transactions, as well as managing individual productions in silos, resulting in lost time and wasted expense. ConduiitCharging on a SaaS model, Conduiit lets production companies access all their compliance, management, accounting, and payment tools from a single platform. "There are two Black founders in a world that doesn't have a lot of them," said Glover of Hamilton and Thurman. Only about 1% of venture funding in 2022 went to Black startup founders, according to Crunchbase data analyzed by TechCrunch .

Persons: Hiro Mizushima, Shawn Hamilton, Hamilton, Hamilton's, Jason Thurman, who's, HBO Max, Max, John Oliver, Drew Glover, Glover, Thurman, we're Organizations: Fiat Ventures, Aperture Venture, Business, Amazon, Netflix, Disney, HBO, Jigsaw, Laylow Productions, Productions, Silicon Valley Bank, Fiat, TechCrunch Locations: Silicon, Hollywood

☆ Leaked all-hands: Broadcom CEO tells employees living within 50 miles of an office to 'get your butt in here'
▼ + stars: | 2023-11-30 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +1 min

Hock Tan, the CEO of Broadcom, said in an all-hands meeting Tuesday that he expects employees living within 50 miles of an office to return to in-person work. One submitted question was: "What can you tell me about headquarters, office locations, and remote work?" "Any other exception, you better learn how to walk on water if you want to work remote," Tan said at the meeting. Broadcom laid off some VMware employees earlier this week, BI first reported. Before the acquisition closing, Tan was already telling VMware employees that he expected them to return to the office.

Persons: Hock Tan, Tan Organizations: Broadcom, VMware, Business Locations: Palo Alto , California, Palo Alto

☆ Microsoft's top brass still don't seem to know what the heck happened with Sam Altman and OpenAI
▼ + stars: | 2023-11-30 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Microsoft has put billions into OpenAI, but it still doesn't know why its board fired Sam Altman. Microsoft president Brad Smith dismissed the idea that the drama was over a dangerous AI discovery. 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 . AdvertisementLooks like Microsoft's top brass are still out of the loop with what the heck happened over at OpenAI.

Persons: Sam Altman, Brad Smith, Smith, —, Altman, There's, Elon Musk, – Organizations: Microsoft, Service, OpenAI, Reuters, Elon, Business Locations: Silicon

☆ US compels Saudi fund to exit Altman-backed AI chip startup - Bloomberg News
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +1 min

Nov 30 (Reuters) - The Biden administration has forced a Saudi Aramco venture capital firm to sell its shares in a Silicon Valley AI chip startup backed by OpenAI co-founder Sam Altman, Bloomberg News reported on Thursday. Altman-backed Rain Neuromorphics, a startup designing chips that mimic the way the brain works and aims to serve companies using artificial intelligence (AI) algorithms, raised $25 million in 2022. The agency, the primary U.S. watchdog for deals with national security implications, instructed the Saudi fund to unwind that deal sometime over the past year, the report said. Altman and the U.S. Treasury, which oversees the Committee on Foreign Investment in the United States (CFIUS) process, did not immediately respond to a Reuters request for comment. The US has taken action that could block AI development in the Middle East.

Persons: Biden, OpenAI, Sam Altman, Altman, Aramco's, Harshita Mary Varghese, Chris Sanders, Arun Koyyur, Sherry Jacob, Phillips, Deepa Babington Organizations: Bloomberg, Foreign Investment, Saudi, U.S . Treasury, Department of Treasury, US, Nvidia, Devices, Thomson Locations: Saudi Aramco, United States, U.S

☆ OpenAI CEO Sam Altman went on an 18-month, $85 million real-estate shopping spree — including a previously unknown Hawaii estate
▼ + stars: | 2023-11-30 | by ( Katherine Long | Hugh Langley | ) www.businessinsider.com time to read: +11 min

AdvertisementYears before the recent drama at OpenAI turned CEO Sam Altman into a household name, the former Y Combinator president went on an extraordinary 18-month, $85 million real-estate shopping spree, according to records reviewed by Business Insider — including a previously unreported $43 million Hawaii estate on land that locals describe as historically significant. AdvertisementSam Altman's Hawaii estate is immediately adjacent to the reconstruction of the royal temple of King Kamehameha I. Maxar TechnologiesA $43 million estate in HawaiiIn July 2021, Altman bought a twelve-bedroom estate in Kailua-Kona, on the big island of Hawaii, for $43 million. Altman's purchase of the Hawaii property has not been previously reported. AdvertisementAnnie had been unaware that her oldest brother owned property in Hawaii until Business Insider asked her about it, she said. A $27 million San Francisco homeAltman's weekday residence is a home on San Francisco's Russian Hill that was once described — inaccurately — as the most expensive home in San Francisco.

Persons: Sam Altman, Altman, —, OpenAI, he's, He's, Sam Altman's, King Kamehameha I, King Kamehameha, Jennifer Serralta, Serralta, Jack, Max, — Sam Altman, Mark Zuckerberg, Larry Ellison, Marc Benioff, Jeff Bezos, Peter Thiel, Annie Altman, Annie, Sam's, Napa Altman, Cade Metz, Bob Dickinson Organizations: Service, Business, Bloomberg Tech Summit, Wall Street Journal, YouTube, Altman, LinkedIn, Apollo, Opportunity Fund, Silicon Valley, Business Insider, San, SEC, 9Point Ventures, Uncommon Ventures, New York Times, Capital Management, San Francisco Chronicle, New Yorker, Israeli Defense Force, Tesla Locations: San Francisco, Napa, Hawaii, Napa , California, Sam Altman's Hawaii, Kailua, Kona, wakesurfing, Kauai, Lanai, San, Russian, California, Hollywood, Big Sur

☆ The cofounder of Allbirds has some advice for startups looking to IPO: make money ahead of going public
▼ + stars: | 2023-11-30 | by ( Melia Russell | ) www.businessinsider.com time to read: +5 min

Allbirds was one of the last startups to go public in 2021's IPO biltz. "You need to be a great company, you need to be profitable," says Allbirds cofounder Tim Brown. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Going public before turning profitable is a thing of the past, according to Allbirds cofounder and chief innovation officer Tim Brown. "You need to be a great company, you need to be profitable," he told Business Insider.

Persons: Allbirds, Tim Brown, —, Klaviyo, Lerer, confidentially, PwC, Spencer Platt, Champagne, Brown, Joanna Glasner, Didi, Rivian Organizations: Service, Time Magazine, Maveron, Tiger Global, Casper Locations: Instacart, Silicon, Americas, Allbirds, Ukraine

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 29 (Reuters) - Microsoft will take a non-voting, observer position on OpenAI's board, CEO Sam Altman said in his first official missive after taking back the reins of the company on Wednesday. The observer position means Microsoft's representative can attend OpenAI's board meetings and access confidential information, but it does not have voting rights on matters including electing or choosing directors. The new OpenAI board is on an active search for six new members with expertise in fields from technology to safety and policy. OpenAI's chief scientist Ilya Sutskever will no longer be part of the board, Altman said. Apart from Altman, Brockman, Sutskever, D'Angelo, OpenAI's previous board consisted of entrepreneur Tasha McCauley, Helen Toner, director of strategy at Georgetown's Center for Security and Emerging Technology.

Persons: Dado Ruvic, Sam Altman, Satya Nadella, Altman, OpenAI, Bret Taylor, Larry Summers, Adam D'Angelo, Mira Murati, Greg Brockman, Greg, Ilya Sutskever, Sutskever, Ilya, Brockman, D'Angelo, OpenAI's, Tasha McCauley, Helen Toner, Akanksha, Krystal Hu, Sayantani Ghosh, Stephen Coates Organizations: REUTERS, Microsoft, U.S . Treasury, Reuters, Georgetown's Center for Security, Emerging Technology, Thomson Locations: OpenAI, Bengaluru, New York, San Francisco

Jan Sramek has spent the past several months in restaurants and conference rooms pitching politicians, environmentalists and labor unions on a plan to erect a new California city on open farmland in an eastern corner of the San Francisco Bay Area. The project is backed by a host of big Silicon Valley names, including the venture capitalists Michael Moritz and Marc Andreessen, the LinkedIn co-founder, Reid Hoffman, and the Emerson Collective founder, Laurene Powell Jobs. At an event Wednesday evening, Mr. Sramek, the chief executive of a company called California Forever, took his case to the Solano County voters. Mr. Sramek took it in stride, patiently answering questions and appearing mostly unruffled. He promised improved infrastructure, employment and middle-class homes for the county’s 450,000 residents.

Persons: Jan Sramek, Michael Moritz, Marc Andreessen, Reid Hoffman, Laurene Powell Jobs, Sramek, ”, “ Flannery Will Ruin Organizations: San Francisco Bay Area, LinkedIn, Emerson Collective, Solano County voters, Vallejo Naval, Historical Museum Locations: California, San Francisco Bay, Solano County

2023 was a tumultuous year for the venture capital industry. This year, Business Insider asked the most important VCs across the US to name the most promising VCs in their cities. Business Insider also asked the general public and last year's rising stars who they thought should make the cut. And just like last year, more of this year's rising stars are women than men, indicating that more women are being brought into the pipeline of the traditionally male-dominated venture capital industry. Scroll to see 2023's rising stars of venture capital, organized alphabetically by the investor's name.

Organizations: Silicon Valley Bank, Tech, Business

☆ Sam Altman suddenly looks less powerful. The panic caused by OpenAI's near-death experience is to blame.
▼ + stars: | 2023-11-30 | by ( Alistair Barr | ) www.businessinsider.com time to read: +6 min

VCs threatened to sue OpenAI's board, and some jockeyed to get in on whatever new situation might replace the fizzled startup. And in OpenAI's case, Altman was brought back as CEO and all the employees stayed. AdvertisementUntil this moment, the consensus was that Altman came through this crisis looking even more powerful and crucial to OpenAI's future. 'The company will be totally fine without me'Silicon Valley just realized that the fate of the world's most important AI company rested in the hands of just one person. The startup's near-death experience unsettled the companies and developers that have come to rely on OpenAI's artificial intelligence platform.

Persons: OpenAI, Altman, —, Sam Altman, VCs, OpenAI's, Wesley Chan, Claude, Guillermo Rauch, Rauch, pinged Rauch, –, Bret Taylor, Madeline Renbarger Organizations: Service, Microsoft, FDIC, FPV Ventures, Google, Services Locations: Silicon Valley, It's

☆ Tech’s New Normal: Microcuts Over Growth at All Costs
▼ + stars: | 2023-11-29 | by ( Katherine Bindley | Preetika Rana | ) www.wsj.com time to read: 1 min

The tech industry has largely recovered from the downturn, but Silicon Valley learned a long-lasting lesson: how to do more with less. Amazon , Google, Microsoft and Meta Platforms have been cutting dozens or a few hundred employees at a time as executives keep tight controls on costs, even as their businesses and stock prices have rebounded sharply.

Organizations: Google, Microsoft, Meta

This year’s DealBook Summit will include conversations with global leaders and powerful figures from Wall Street, Silicon Valley and Hollywood. Jamie Dimon has been the chief executive of JPMorgan Chase since 2006 and its chairman since 2007, making him one of Wall Street’s longest-serving banking leaders. Bob Iger returned as Disney’s chief executive last year, after stepping down from the role in 2020. David Zaslav orchestrated Discovery’s takeover of WarnerMedia and became the chief executive of the new company, Warner Bros. The transaction helped transform his modest cable television company into an empire that includes the Warner Bros. movie and TV studios, HBO and CNN.

Persons: Andrew Ross Sorkin, Kamala Harris, Ms, Harris, Biden’s, Tsai Ing, Tsai, Elon Musk, Musk, Jamie Dimon, Jensen Huang, chipmaker, Bob Iger, Long, Iger, Lina Khan, Khan, ”, David Zaslav, Jay Monahan, LIV Golf, Monahan, Kevin McCarthy, Mr, McCarthy, Shonda Rhimes, Rhimes Organizations: Wall, Israel, Elon, SpaceX, JPMorgan Chase, First, Nvidia, Fox, Marvel, Pixar, Hollywood, ESPN, Federal Trade Commission, Columbia Law, WarnerMedia, Warner Bros, HBO, CNN, Republican, Republican Party, Shondaland, Netflix Locations: Silicon Valley, Hollywood, United States, California, San Francisco, Gaza, Taiwan, China, First Republic, Saudi

As technology titans jockey to back hot new startups, they are extracting explicit or implicit promises of revenue in return. loadingMicrosoft’s injection of $10 billion into OpenAI in January helped kick off the craze. As part of their deal, the ChatGPT operator agreed to exclusively use its new investor’s cloud computing services. Much of the invested capital should be returned relatively quickly as AI firms buy back-end services. Nvidia (NVDA.O) has at least 80% and as much as 95% of the AI market, according to estimates by analysts.

Persons: Sam Altman, Satya Nadella, OpenAI, Optimists, cynics, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav, Streisand Neto Organizations: Reuters, Microsoft, Financial Times, Apple, Nasdaq, Big Tech, OpenAI, Wall Street, Google, Reuters Graphics Reuters, Cisco Systems, Lucent Technologies, Nortel Technologies, Company, Global, Telecom, Nortel, Network, Nvidia, Thomson Locations: OpenAI, Silicon Valley

☆ Market vulnerabilities and a possible U.S. recession: Strategists give their cautious predictions for 2024
▼ + stars: | 2023-11-29 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

The market is now largely pricing a peak at the current Fed funds target range of 5.25-5.5%, with interest rate cuts to come next year. watch now"At the outer edges of the economy there is obvious stress that is likely to spread in 2024 with rates at these levels. So it's easy to see how bad levered investments could have been made that would be vulnerable to this higher rate regime." Recession risk 'delayed rather than diminished' In a roundtable event on Tuesday, JPMorgan Asset Management strategists echoed this note of caution, claiming that the risk of a U.S. recession was "delayed rather than diminished" as the impact of higher rates feeds through into the economy. "I think the the key conclusion here is that interest rates do still bite, it's just taking longer this time around," she said.

Persons: Victor J, Jim Reid, David Folkerts, Landau, Reid, Folkerts, GSAM, Karen Ward, it's Organizations: New York Stock Exchange, Blue, Bloomberg, Getty, Monetary, Federal Reserve, Deutsche Bank, Global Economics, Research, Silicon Valley Bank, Goldman Sachs Asset Management, European Central Bank, Fed, ECB, JPMorgan, Management Locations: New York, Washington, U.S, Canada, Brazil, Chile, Hungary, Mexico, Peru, Poland

☆ Charlie Munger's last big call was probably right: AI is overhyped
▼ + stars: | 2023-11-29 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Charlie Munger, who passed away Tuesday at the age of 99, had a last big call on AI: it's overhyped. It was counterintuitive, but his last big call could be right: AI is overhyped. Google has now rolled the lab in with another AI division, Google Brain, and no longer explicitly breaks out financials. AI has still to prove out its caseFinally, there's the big question of whether the technology will deliver on its big promises. OpenAI's Altman and other AI CEOs talk very publicly about AI as smart as humans being on the horizon.

Persons: Charlie Munger, —, Warren Buffett, Munger, ChatGPT, OpenAI's, Sam Altman, Altman, There's, OpenAI's Altman, Michael Chabon Organizations: Service, Apple, Costco, Oracle, Microsoft, Ferrari, British, Tobacco, Dell, Google, DeepMind Locations: Berkshire, Omaha, Silicon Valley

☆ 'The most taboo topic I've ever seen': Inside Microsoft's war over the war in Gaza
▼ + stars: | 2023-11-28 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +16 min

Viva Engage, Microsoft's slick message board designed to compete with Slack, is often touted as "Facebook for work." In October, according to internal messages viewed by BI, a Microsoft employee shared a post praising child tax credits as a way to reduce poverty. Employees with pro-Palestinian views have also used inflammatory language in their posts on Viva Engage. It has cut off the comments to Viva Engage posts it considered too incendiary. "It's important to recognize the pain and suffering of so many people, including our colleagues, as the events in Israel, Gaza, and the surrounding region continue to unfold," Nadella wrote.

Persons: Slack, —, Sandy Hook, chimed, George Floyd, Satya Nadella, Roe, Wade, Kathleen Hogan, Israel, Nadella, Benjamin Netanyahu, Charlie Bell, Scott Guthrie, Rajesh Jha, Microsoft's, Cherry, Davis Polk, Israel's, Ashley Stewart Organizations: Viva Engage, Facebook, Microsoft, Business, Engage, BI, Employees, Israel, Israel Defense Forces, Harvard, Hamas, Wardwell, Ivy League, New York Times, Apple, Amazon Web Services Locations: Israel, Gaza, Uvalde, Columbia, Silicon Valley, America, Haifa, Herzliya , Tel Aviv, Nazareth, Palestine, Gaza . Harvard, Tel Aviv, Seattle

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