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☆ Starbucks Exec Quit to Launch a Rum Brand, 3 Tips for Success
▼ + stars: | 2024-11-17 | by ( Maria Noyen | ) www.businessinsider.com time to read: +5 min

AdvertisementMarc Farrell became Starbucks' youngest vice president at the age of 33. He left to launch his rum brand, Ten To One, which counts Howard Schultz as an investor. AdvertisementMarc Farrell left behind his role as Starbucks' youngest VP to launch his own rum brand. On the surface, a global coffee giant, and an up-and-coming rum brand don't seem to have much in common. Don't wait until the product is perfectAt Starbucks, Farrell was he was very well paid and great colleagues and mentors.

Persons: Marc Farrell, Farrell, Howard Schultz, Jack Sparrow, Marc, Kwesi Farrell, Gabrielle Wesley, Schultz, Ciara Organizations: Starbucks, Mars, Harvard Business, Michelin Locations: Trinidad and Tobago, Mars Wrigley, America, Caribbean, Seattle, Trinidad, Korean, New York City

☆ Sam Altman's leadership advice echoes 2 philosophies encouraged by Steve Jobs and Warren Buffett
▼ + stars: | 2024-11-04 | by ( Jaures Yip | ) www.businessinsider.com time to read: +4 min

Altman also emphasized saying no, echoing Steve Jobs' leadership philosophy. AdvertisementThe leadership traits that Sam Altman values may sound familiar to those who have studied Steve Jobs and Warren Buffett. Altman said the team tries to be "rigorous" about straying away from "fantastical dreams" or goals — a strategy reminiscent of the late Apple cofounder Steve Jobs. Advertisement"The main thing I stressed was focus," Jobs had said about his visit to Larry Page, biographer Walter Isaacson wrote in the Harvard Business Review. "The difference between successful people and really successful people is that really successful people say no to almost everything," the Berkshire Hathaway CEO once said.

Persons: Sam Altman, Altman, Steve Jobs, Warren Buffett, —, Kevin Weil, Jobs, Larry Page, Walter Isaacson, Apple's, Jerry Yang, Insider's Nicholas Carlson, Marissa Mayer, — that's, Alman, Sora Organizations: Service, Apple, Harvard Business, Yahoo, Stanford University, Conference, Berkshire Hathaway Locations: Hollywood

☆ As the housing affordability crisis deepens, Airbnb and Vrbo face backlash
▼ + stars: | 2024-10-28 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

CNN —It’s been more than six years since Irvine, California, banned short-term rentals — and the city’s mayor hasn’t looked back. “I certainly don’t think it’s a major driver of the housing affordability crisis,” Nieuwerburgh said. “The reality is that there just simply aren’t enough short-term rentals out there to really make a difference,” Yedinsky said. In Irvine, although Mayor Khan said the ban had been well received, Irvine’s housing affordability issues aren’t yet solved. Each Airbnb or other short-term rental host must pay a fee to the city to operate as a short-term rental business.

Persons: CNN — It’s, hasn’t, “ It’s, ”, Farrah Khan, ” Irvine, Michael Seiler, College of William & Mary, “, ” Theo Yedinsky, Stijn Van Nieuwerburgh, ” Nieuwerburgh, I’m, Airbnb, ” Yedinsky, ” Vrbo, Sieler, Khan, ” Khan, “ We’re, —, Dan Enright, ” Enright, Enright Organizations: CNN, College of William &, Public, Research, Harvard Business, Columbia University, Telluride Locations: Irvine , California, Irvine, Orange County, Telluride, Colorado’s Rocky, Virginia, New York City

☆ The end of American careerism
▼ + stars: | 2024-10-28 | by ( Aki Ito | ) www.businessinsider.com time to read: +13 min

AdvertisementClimbing the corporate ladder was once the cornerstone of the American dream. Maybe that's why earlier this year, a young New Yorker struck a chord on TikTok when he vowed to "descend the corporate ladder." Eventually, he got promoted into a corporate office role, and that opened up even more opportunities for advancement. "That was a betrayal from a company I had been incredibly dedicated to," Zack told me. Besides, the dream of climbing the corporate ladder was probably never as great as it seemed to be.

Persons: Zack, I'm, I've, Randstad, James Yates, Dell, careerism, Benjamin Franklin —, Shoshana Zuboff, James, he's, who's, Gen, Xers, Gen Zers, Michel Anteby, Aki Ito Organizations: New Yorker, Industrial, . Companies, Harvard Business School, BI, Professionals, Gallup, Boston University, Business Locations: United States, Italy, Spain, New Zealand, New, America

☆ AI largely beat human CEOs in an experiment — but it also got fired more quickly
▼ + stars: | 2024-10-10 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

AI mostly outperformed human executives in an experiment by University of Cambridge researchers. But AI wasn't as good at making decisions in unexpected "black swan" events. That led to AI getting fired by a virtual board of directors more quickly than humans. Because of that, AI got fired more quickly by a virtual board of directors than its human counterparts, which navigated unexpected situations better. When a "black swan" event occurred, the bot couldn't address it as quickly — or as well — as the human executives and students.

Persons: —, Hamza Mudassir, Mudassir, LLMs Organizations: University of Cambridge, Service, Cambridge, Harvard Business Locations: Cambridge, OpenAI

☆ Move over dealmakers: Portfolio-company operators are the rising stars of private equity
▼ + stars: | 2024-08-14 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +11 min

Read previewDealmakers have always been the stars of private equity. AdvertisementKevin Desai, partner and private equity sector leader at PwC PWCBut in the current climate, portfolio-operations professionals are gaining esteem. AdvertisementPrivate equity 3.0Rising interest rates nearly two and a half years ago ushered in a new economic reality that hit private equity firms right in the pocket. Since private equity relies on debt to boost returns, the first option is off the table. These people are taking their talents to private equity firms to manage smaller companies using an already proven playbook for technological transformation.

Persons: —, you've, Marc Rowan, Rowan, Kevin Desai, Desai, I've, What's, they're, quants, we've Organizations: Service, Business, PricewaterhouseCoopers, University of Chicago, Walmart, Nike, Harvard Business Locations: dealmaking

☆ The 7 most important phrases, says veteran advice columnist Ask Amy: Use them when you need 'the right words'
▼ + stars: | 2024-07-06 | by ( Ashton Jackson | ) www.cnbc.com time to read: +2 min

Amy Dickinson, 64, has shared life advice in her widely syndicated news column, "Ask Amy," for two decades. In her final column, she concentrates her best advice into a few key phrases. "Many of us overestimate the likelihood that the people we're asking for help will say 'no.' Kets de Vries wrote for the Harvard Business Review. "In turn, they'll trust you enough to ask for help when they're in need themselves."

Persons: Amy Dickinson, Amy, Dickinson, Manfred F.R, Kets de Vries, de Vries, Juliette Han, Han Organizations: Harvard Business, Harvard, Columbia Business School, CNBC Locations: Dutch

☆ Job seekers are jumping through more hoops to get hired as power shifts back to employers
▼ + stars: | 2024-06-25 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +5 min

Read previewThe hiring process seems to have become increasingly complex in recent years, with job seekers facing new tests, more interviews, and months of waiting to hear back from prospective employers. Job seekers have been taking to social media to complain about jumping through various hiring hoops just to secure an entry-level job. He said that in recent years, the hiring process has slowed down as the number of interview rounds has increased: "It reflects a lack of understanding by employers about what they're actually looking for." Advertisement"Many interviews and job assessments now take place online, which means candidates need to adapt to virtual interactions and later demonstrate their skills remotely," she said. When job interviews started to be done on Zoom and managers had fewer opportunities to evaluate candidates, more employers began using cognitive and psychometric assessments as part of their hiring process.

Persons: —, Chris Abbass, Abbass, Peter Cappelli, Wharton, They've, Cappelli, Nikita Gupta, they're, Gupta Organizations: Service, Business, school's, Human Resources, Harvard Business, Big Tech

☆ 66% of Americans give companies a failing grade for CEO pay
▼ + stars: | 2024-06-12 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

New York CNN —Americans are fed up with massive CEO pay packages. Just 13% say companies are doing a good or excellent job at avoiding a major pay gap between CEOs and average employees. For the third year in a row, the vast majority – 66% — say companies are doing a “poor” job here. Politically, the majority of Democrats (96%), independents (83%) and Republicans (67%) agree that it’s important to avoid major pay gaps. The findings show how the issue of CEO pay strikes a chord among many Americans, some of whom are struggling to make ends meet in an increasingly expensive world.

Persons: Gallup, ”, Nell Minow, Elon Musk, Tesla, “, Cynthia Clark, Bernie Sanders, Elizabeth Warren, “ It’s, Bill George, Medtronic, Hock Tan, William Lansing, George, Dave Calhoun, Dodd, Frank, Clark, ” Minow, Minow Organizations: New, New York CNN, Bentley University, Gallup, CNN, ValueEdge Advisors, Associated Press, “, Democrats, Sens, Broadcom, Harvard Business School, Boeing, Congress Locations: New York, ”

☆ There's a stock market crash coming in 2025 as the 'bubble of all bubbles' bursts, economist says
▼ + stars: | 2024-06-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The US is poised to see an epic stock market crash next year, according to Harry Dent. AdvertisementThe stock market could be in for a steep correction, resulting in a crash even worse than what investors saw during the Great Financial Crisis, according to economist Harry Dent. "Hero" stocks, like chipmaker Nvidia, could drop as much as 98%, he said, implying a multi-trillion market crash. "We've got to see a crash of about 40% to say, okay, the bubble's finally let off the steam. "This is really the second tech bubble version," he added, referring to the dot-com bubble in the 2000s."

Persons: Harry Dent, —, Dent, We've, " Dent Organizations: Service, Harvard Business School, Nasdaq, Nvidia, Fox Business Network

☆ Online scams might soon just be a battle between AIs
▼ + stars: | 2024-06-03 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +1 min

A Harvard study found that AI phishing scams are as effective as human ones. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOnline scams might soon just be a battle between AIs, one launching the attacks and another defending against them. Online scams are only becoming more prevalent, and with new AI technology, Harvard researchers say they could become much more difficult to avoid. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Harvard, Service, AIs, Harvard Business School, Harvard Business, Business

☆ How to find financial happiness if you're suffering from lifestyle creep, according to a Harvard professor
▼ + stars: | 2024-06-02 | by ( Cork Gaines | ) www.businessinsider.com time to read: +4 min

Harvard professor Arthur Brooks emphasized curbing bad spending habits for financial happiness. Brooks noted that rising credit card debt is affecting the financial well-being of many Americans. AdvertisementBestselling author and Harvard professor Arthur Brooks believes that achieving financial happiness isn't solved by chasing extra income but by curbing bad spending habits. AdvertisementBorrowing for consumption is the most damaging financial habitBrooks pointed to the recent rise in credit card debt as a factor that affects many people's financial happiness. Credit card debt has become a crisis in the US following the pandemic when many Americans used up their savings.

Persons: Arthur Brooks, Brooks, — Organizations: Service, Harvard Kennedy School, Harvard Business School, JPMorgan Chase, JPMorgan Chase Co

☆ Why job skills could make or break your next interview
▼ + stars: | 2024-05-31 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Nearly half, or 45%, of employers scrapped degree requirements for some roles in the past year, and 72% now prioritize skills over certificates in job candidates, according to the ZipRecruiter survey. The trend, which prioritizes a candidate's practical skills and real-world experience over formal education, appears to be "gaining momentum," according to ZipRecruiter. Meanwhile, hiring managers are being more explicit in job ads about the specific skills they seek in applicants, said Cory Stahle, an economist at the job site Indeed. What this means for job seekers"If the [job ad's] focus is on skills, the focus of your resume should be on skills as well," Stahle said. While skills should be "prominent" in such cases, that doesn't mean applicants should forgo traditional information, Stahle added.

Persons: Cory Stahle, Stahle, Indeed's Stahle Organizations: Getty, Harvard Business School, Glass, USA, Finance, Harvard Locations: U.S

☆ Warren Buffett says one question posed by AI has stumped economists for a century
▼ + stars: | 2024-05-07 | by ( Michelle Castillo | ) www.cnbc.com time to read: +8 min

Calling AI profound, Buffet said that the technology is like a "genie" — once it gets let out of the bottle, it could have disastrous effects. It's a question, he said, that has riddled the best economists for a century. Warren Buffett is the first to admit he doesn't know much about artificial intelligence. This rebound has led to questions from corporate executives about factors that could be at play, from AI to return-to-office mandates. "Every company is looking at AI and deciding where it will help them," he said during a recent interview on CNBC's "Money Movers."

Persons: Buffett, Buffet, Warren Buffett, it's, couldn't, John Maynard Keynes, Keynes, Gary Cohn, Cohn, Dev Ittycheria, Elon Musk, Mark Zuckerberg, Sam Altman, Robert Solow, Berkshire Hathaway Organizations: Apple, Berkshire Hathaway, Berkshire, IBM, National Economic, CNBC, Nvidia, McKinsey, Harvard Business Locations: Omaha, Berkshire

☆ AI is revolutionizing industries. Here's what that means for consumer trust.
▼ + stars: | 2024-04-12 | by ( Sponsor Post | Created Mastercard With Insider Studios | ) www.businessinsider.com time to read: +6 min

It is therefore no surprise that the advent of big data, data analytics, and disruptive technologies such as generative AI have brought in sweeping changes and opportunities to reinvent critical business areas. When customers trust a business, it empowers the organization to pioneer groundbreaking initiatives, embracing risk to craft new products and refine existing ones. While the balance between trust and innovation emerges as a critical lever for progress, the role of transparency in cultivating and maintaining this trust cannot be overstated. Earned, not givenAs we recognize transparency's pivotal role in building trust, it becomes clear that trust in the digital age is earned, not given. Safeguarding consumer trust in an era increasingly dominated by sophisticated algorithms and artificial intelligence is more critical than ever.

Persons: Matthew Driver, we've Organizations: Services, Asia, Mastercard, Trust, Harvard, Mastercard Singapore, Insider Studios Locations: Asia Pacific

☆ Google's executive productivity advisor says these 2 common 'pitfalls' are making people less efficient at work
▼ + stars: | 2024-04-06 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +2 min

The first obstacle is overcommitting, Martin said. Related stories"So I think we all fall into that trap sometimes, and it's important to realize that that's not always going to set you up for the best output," Martin told HBR. AdvertisementTo overcome overcommitting, Martin told HBR that identifying your top three priorities daily, weekly, and monthly can be helpful. AdvertisementMartin told HBR that once people become more intentional with their time, they should use it wisely to address projects or tasks. She later gave tips on how people can approach emails, meetings, and other day-to-day office tasks while reaching peak productivity.

Persons: —, Laura Mae Martin, Harvard Business Review's, Martin, that's, HBR, overcommitting Organizations: Service, Harvard Business, Business, BI

☆ Nvidia boss Jensen Huang believes CEOs should have the most direct reports
▼ + stars: | 2024-03-09 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

Huang, who oversees 50 direct reports, said that "by definition," CEOs should have the most direct reports of anyone at a company. And taking on more direct reports could help CEOs level the playing field, too. And while Huang manages more people than other big-name CEOs (Amazon CEO Andy Jassy has 16 direct reports), Nvidia has close to 30,000 employees, according to a company report from 2023. While Huang might be an outlier (and overachiever) as a manager, the number of direct reports CEOs are taking on is on the rise. CEOs' direct reports doubled from five in the mid-1980s to close to 10 in the mid-2000s, according to the Harvard Business Review.

Persons: —, Jensen Huang, doesn't, . Huang, Huang, chipmaker, Andy Jassy, Hal Gregersen Organizations: Service, Stanford's Graduate School of Business, Business, Nvidia, Harvard Business, MIT Leadership Center Locations: .

☆ India's moment has arrived — but many hurdles remain
▼ + stars: | 2024-02-04 | by ( Spriha Srivastava | Polly Thompson | ) www.businessinsider.com time to read: +8 min

India's economy is expected to expand by 6.5% this year, according to IMF forecasts. The world's most populous nation was keen to talk up its prospects at the World Economic Forum in Davos. Advertisement"India has seized the moment," proclaimed housing minister Hardeep Singh Puri with confidence during a panel at the World Economic Forum in Davos last month. The 10-strong group of emerging market nations now accounts for 45% of the world's population and 28% of global GDP. AdvertisementSome economists have criticized the government's narrative as a "false growth story," highlighting discrepancies in the data and criticizing the methods used to calculate economic growth.

Persons: —, Hardeep Singh, Smriti Irani, BI's Spriha Srivastava, that's, Narendra Modi's, Cash, Modi, SAJJAD HUSSAIN, I've, Andy Baldwin, EY, Narendra Modi, Brazil's Luiz Inácio Lula da Silva, Dan Kitwood, Getty, ISRO Goldman Sachs, Ashoka Mody, Rajesh Kumar Singh, Vladimir Putin, Singh Organizations: Economic, Service, BI, IMF, Business, Apple, ISRO, Princeton University, World Bank, US, of, Hindustan Times, Harvard Business Locations: Davos, India, China, Japan, Brazil, China India, India's, Ukraine

☆ Altimeter's Brad Gerstner, a top tech investor for 15 years, is showing no signs of slowing
▼ + stars: | 2023-12-26 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Brad Gerstner rose to prominence in the tech investment scene for his early lucrative bets in Snowflake and Meta Platforms , and he's showing no signs of slowing down. The tech investor launched his investment firm Altimeter Capital in the depths of the 2008 financial crisis with less than $3 million raised from his family and friends. Altimeter has also been an on-and-off investor in Meta Platforms since the early 2010s. As a top 15 institutional investor, Gerstner wrote a critical open letter in October 2022, saying the company needed to slash headcount and stop spending so much money on metaverse. The widely followed tech investor called the rise of AI a "super-cycle" just like the dot-com boom in the late 1990s.

Persons: Brad Gerstner, Gerstner, Snowflake, Meta, Mark Zuckerberg, he's Organizations: Harvard Business School, Microsoft, Nvidia, Federal Reserve Locations: Snowflake

☆ Don’t Roll Your Eyes: Looking the Part Could Land You That Job
▼ + stars: | 2023-12-04 | by ( Anne Marie Chaker | ) www.wsj.com time to read: 1 min

Think appearances don’t matter if you’re applying for a job online? New research shows that looking the part is very much part of the equation. Your credentials and referrals may get you on the shortlist. Even if the whole process takes place online, though, it’s rare that a hiring manager won’t check out your LinkedIn profile. Making the final cut can come down to nailing a specific professional look, according to a new study published by the Harvard Business School.

Persons: won’t Organizations: Harvard Business School

☆ OpenAI boss Sam Altman predicts 'brutal' shortage of AI chips will ease next year
▼ + stars: | 2023-11-13 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +2 min

Nvidia's chips have been hot property in Silicon Valley this year thanks to the AI boom. But a shortage in the chips could ease as soon as next year, Sam Altman said. The OpenAI boss told the Financial Times that rivals to Nvidia would soon enter the market. AdvertisementAdvertisementSam Altman has reportedly predicted that a "brutal crunch" triggered by a shortage in expensive chips needed to power tools like ChatGPT will ease next year. The OpenAI boss told The Financial Times that he expected the chip shortage to ease as companies enter the market with rival offerings to the hottest property in AI: Nvidia's popular $40,000 H100 processors.

Persons: Sam Altman, —, OpenAI, Altman, Jensen Huang, Fortune, Huang Organizations: Financial Times, Nvidia, Service, Microsoft, Companies, Google, The Harvard Business Locations: Silicon, Silicon Valley

☆ How generative AI's uncomfortable relationship with copyright law will determine the future of the industry
▼ + stars: | 2023-11-01 | by ( Riddhi Kanetkar | Tasmin Lockwood | ) www.businessinsider.com time to read: +7 min

Rights holders argue that AI using their work without a license should be considered "unauthorized derivative work" — an infringement of copyright law. Meanwhile, AI startups insist that their models comply with fair-use doctrine, which grants them some leeway to others' works. This month, Universal Music Group sued the AI startup Athropic for circulating copyrighted lyrics. He believes that future regulations may explicitly forbid AI data scraping. "They can train models on data that's not universally available to customers, and tell them it's licensed and compliant."

Persons: Eva Toorenent, who's, that's, Simon Menashy, Menashy, Ekaterina Almasque, OpenOcean Almasque, Getty, Sunny Dhillon, Harvey, Horowitz, Andre Retterath, GDPR, CCPA, Taylor, Swift Organizations: Universal Music Group, Getty, Harvard Business, MMC Ventures, Kyber Knight Capital, Nvidia, Earlybird Venture Locations: what's, Europe

☆ LinkedIn's new AI chatbot wants to help you get a job
▼ + stars: | 2023-11-01 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

LinkedIn debuted an artificial intelligence-powered chatbot Wednesday that it's billing as a "job seeker coach," and unveiled other generative AI tools for Premium members. The new AI chatbot, which aims in part to help users gauge whether a job application is worth their time, is powered by OpenAI's GPT-4 and began rolling out to some Premium users Wednesday. "We had to build a lot of stuff on our end to work around that and to make this a snappy experience," Berger told CNBC in an interview. The chatbot will also point to potential gaps in a user's experience that could hurt them in the job application process. In the past, many uses of AI in hiring or job applications have faced criticism for bias against marginalized communities.

Persons: OpenAI's GPT, Erran Berger, Berger, We've, we've, Jordan Novet Organizations: LinkedIn, Microsoft, CNBC, Harvard Business, Tech, Qualcomm

☆ The 3 in-demand soft skills candidates are 'most lacking in,' according to ZipRecruiter
▼ + stars: | 2023-10-23 | by ( Morgan Smith | ) www.cnbc.com time to read: +4 min

Hiring managers are less and less impressed by where you went to college — or if you have a four-year degree at all. Nearly half — 45% — of companies have dropped degree requirements for some roles this year, according to new research from ZipRecruiter, which surveyed more than 2,000 U.S. employers. Instead, companies are prioritizing skills over education: 42% of companies are now explicitly using skills-related metrics to find candidates, LinkedIn told CNBC Make It in June, up 12% from a year earlier. "Employers have the perception that younger generations are no longer picking up these important soft skills at school or at college," she explains. Between 2021 and 2022, when companies were desperate to fill vacancies, many lowered their recruiting standards, hiring more "novice employees" lacking these important soft skills, says Pollak.

Persons: Julia Pollak, Marissa Morrison, Morrison, Pollak, Gen, Amanda Augustine, you've, Augustine Organizations: CNBC, Harvard Business, Glass Institute, Employers, Society for Human Resource Management, Global Locations: ZipRecruiter

☆ CEO shares a ‘secret trick’ for deciding to quit your toxic job: 'It can make it much, much clearer'
▼ + stars: | 2023-09-29 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Toxic bosses are far too common: They're the reason 57% of employees have quit a job, according to one report. Robyn L. Garrett, an author and CEO of leadership coaching firm Beamably, has a "secret trick" for figuring out whether it's time to abandon ship. "We don't always know why we have negative feelings about the workplace, but if you've taken the time to define your values, it can make it much, much clearer." You should probably consider leaving your job if you are completely opposed to your boss's approach on a moral level. If they're stuck in their ways, you'll have to resort to changing your communication style to match theirs.

Persons: Robyn L, Garrett, Beamably, you've, they'll, they're Organizations: Harvard, Harris Poll, Interact, CNBC

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