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☆ A FIRE blogger decided to test the benefits of the popular triple-tax advantaged HSA. He explains why it wasn't worth the hassle and wants to switch health insurance plans in 2025.
▼ + stars: | 2024-11-20 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

AdvertisementAndre Nader switched from an EPO health insurance plan to an HDHP to get access to an HSA. He plans to switch back to an EPO plan in 2025 for simplicity. AdvertisementIn 2024, he decided to put the popular, triple tax-advantaged health savings account (HSA) to the test. You can invest your HSA funds (the investment options vary by provider), and your contributions and earnings grow tax-free. Not touching your HSA funds means covering your medical expenses out of pocket, which is what Nader did throughout 2024.

Persons: Andre Nader, Nader, Nader didn't, he'd, isn't, he'll, HSA Organizations: FIRE, IRA Locations: San Francisco

☆ It's time to rethink what work-life balance really means
▼ + stars: | 2024-11-14 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +5 min

A work-life balance is a priority for many. But it may be more beneficial to balance energy and find personal "golden hours" for productivity. AdvertisementThe pursuit of a work-life balance is at the heart of so many workplace conversations. "I don't think work-life balance exists," Dilan Gomih, the founder and CEO of the workplace performance and wellness consultancy Dilagence, told Business Insider. However, provided work doesn't overtake all of your personal time, there may be some wisdom in rethinking the definition of work-life balance.

Persons: —, Zers, Jeff Bezos, Bezos, Veronica West, there's, Gomih, Breese Annable, Annable, West Organizations: Service, Vox's

☆ 'Many dark times': How this startup founder overcame self-doubt and started a $100-million-a-year business
▼ + stars: | 2024-11-13 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +5 min

Jeffrey Tiong, founder and CEO of PatSnap. Courtesy of Jeffrey Tiong. Just ask Jeffrey Tiong. "Let me put it this way: For the last 17 years, building the business, there have been many dark times [and] low times. Courtesy of Jeffrey Tiong.

Persons: Jeffrey Tiong, Tiong Organizations: PatSnap, CNBC, National University of Singapore, The Wharton School, Patsnap Locations: Singapore, Patsnap, East Malaysia, Kota Kinabalu, U.S, Philadelphia, Europe, Asia

☆ Higher taxes will make it harder for Britain to build 'the next Nvidia,' tech execs say
▼ + stars: | 2024-11-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

The lower capital gains tax rate was increased to 18% from 10%, while the higher rate climbed to 24% from 20%. Reeves said the increases will help bring in £2.5 billion ($3.2 billion) of additional capital to the public purses. Still, Reeves said the U.K. would still have the lowest capital gains tax rate of any European G7 economy. watch nowReeves announced that the rate of tax on carried interest, which is charged on capital gains, would rise to 32%, up from 28% currently. She nevertheless urged the government to look seriously at mandating that pension funds diversify their allocation to riskier assets like venture capital — a common ask from VCs to boost the U.K. tech sector.

Persons: Rachel Reeves, Reeves, BADR, Paul Taylor, Taylor, Haakon Overli, Dawn Capital, Overli, Anne Glover, Glover, Clarity, Steve Hare, Sage, Sean Reddington, Reddington Organizations: Labour Party Conference, ACC Liverpool Convention Center, Anadolu, Getty, LONDON, Labour, CGT, National Insurance, Unicorn Council, Nvidia, Dawn, NVIDIA, Amadeus Capital, Wealth, Norway's, Fund Global, Saudi Arabia's Public Investment Fund Locations: Liverpool, British, Britain, VCs

☆ Breakfast with Ohtani: In Japan, watching this World Series may be the national pastime
▼ + stars: | 2024-10-25 | by ( Rustin Dodd | ) www.nytimes.com time to read: +14 min

At World Series Media Day on Thursday, no one was a bigger draw than Ohtani. Ninomiya, 59, grew up in the city of Oita, obsessing over books about Japanese baseball history. The comings and goings of Mamiko Tanaka and Ohtani are regular fodder for Japanese morning shows. In Japan, Ohtani is the face of countless advertising campaigns. Ohtani’s presence — along with starting pitcher Yoshinobu Yamamoto — could help the Japanese World Series audience approach those heights.

Persons: Shohei Ohtani, Tatsuo Shinke, Ohtani, Shinke, Emiko, ” Shinke, “, She’s, Katharine Lotze, Michael Jordan, David Beckham, doesn’t, ”, Robert Whiting, —, Rahm Emanuel, Chicago ”, Jordan, ” Emanuel, Whiting, Hideo Nomo, Ichiro Suzuki, Hideki Matsui, Nomo, Japan — Whiting, Suzuki, Yu Darvish, Tomoki Negishi, I’ve, ” Negishi, Masanori, Negishi, I’m, Chen Liang, Ninomiya, ” Ninomiya, ” Ohtani, Ippei Mizuhara, Mizuhara, It’s, Mamiko Tanaka, Stringer, Hiroshi Kitamura, William & Mary, Aaron, Judge, Fernando, Tatis, Ronald, Acuna, Foster Griffin, Griffin, ” Griffin, Ryan Yamazaki, Bobby Valentine, Yoshinobu Yamamoto —, Rob Manfred, “ Smart, ” Yamazaki, Shigeru Ishiba, Machiko Kondo, Kondo, Ichiro, ” Whiting, she’s, Andy McCullough, Sam Blum, Dan Goldfarb, Jayne Kamin Organizations: Mint, Major League Baseball, Los Angeles Dodgers, Ohtani’s Dodgers, New York Yankees, Los Angeles Angels, Dodgers, Padres, National League, Nikkei, Yankees, Asahi Shimbun, Japan’s Pacific League, Ninomiya, UCLA, NHK, Hokkaido, Ham Fighters, Angels, MLB, Pacific, William &, Kansas City Royals, Yomiuri Giants, Mets, Chiba Lotte Marines, Baseball, WBC, Chicago Cubs, San Diego Padres, Athletic, Fuji, United Nations Locations: Japan, Tokyo, Ohtani, United States, America, American, U.S, Chicago, —, Ōta, Oita, ”, Hokkaido Nippon, Osaka, Fukuoka, Sapporo, South Korea

☆ Exclusive: Maven Clinic is swapping out its finance chiefs as the women's health unicorn looks ahead to an IPO
▼ + stars: | 2024-10-24 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +3 min

Maven's chief financial officer has left the women's health unicorn one year after taking the role. AdvertisementMaven Clinic is swapping out its chief financial officers on the heels of a fresh funding round as the women's health startup inches closer to an IPO. Related storiesAs the highest-valued women's health startup, Maven is expected to be a candidate for the next wave of digital health IPOs. The startup's hopeful future exit would be a boon for the women's health market, which remains a small fraction of all healthcare funding. Wrapbook raised a $20 million funding round in September at a valuation of $750 million.

Persons: Maven, —, Kristina Campbell, isn't, Campbell didn't, haven't, Campbell, Wrapbook Organizations: Service, StepStone Group, Business, Sequoia Capital, Catalyst, Lux Capital, Oak HC, SEC

☆ More startups are being spun out of Klarna than any other European fintech unicorn
▼ + stars: | 2024-10-22 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Accel labels these companies "founder factories," on the basis that they have become breeding grounds for talent that often go on to establish their own firms. However, most of the biggest fintech founder factories come from Europe. Asked about why Klarna topped the ranking of fintech founder factories in Europe, Bocchio said: "Klarna is an organization that is coming of age now." Nearly two-thirds (61%) of companies founded by former employees of fintech unicorns were founded in the same city as the unicorn, according to Accel. This, he said, "speaks to the maturity and appetite" of individuals within Europe's fintech founder factories.

Persons: Block's, Nikolas Kokovlis, Luca Bocchio, Sebastian Siemiatkowski, Siemiatkowski, Klarna, Accel's Bocchio, Bocchio Organizations: Nurphoto, Getty, Accel, Klarna, CNBC, London Locations: Europe, London, Berlin, Stockholm, Israel, Europe's

Creator-economy startup Jellysmack is reorganizing and cutting some staff, Business Insider is exclusively reporting. "Jellysmack is making organizational adjustments to better align resources with key areas of growth," a representative told BI in an email. While we are scaling back certain operations in our Creator Program on Meta due to the opacity of their new monetization model, we remain dedicated to supporting our key creator partners and ensuring they continue to benefit from our platform." The company said in early 2022 that it would set aside $500 million for a program called JellyFi to license creator catalogs . Despite Jellysmack's expansion into new areas of the creator economy, its business had been increasingly troubled, insiders told BI earlier this year.

Persons: SoftBank, —, Jellysmack, Michael Philippe, Jelly Organizations: Business, Service, YouTube, Meta, Facebook, Copyright Capital Locations: France

As Election Day approaches, the campaigns are putting significant time and attention toward courting Black men, seen as a crucial — and potentially movable — voting bloc in a tight presidential race. However, that number drops to 68% for Black men under 50, compared to 21% who support Trump. “It’s very important to not operate from the assumption that Black men are in anybody’s pocket,” she said during an interview with the National Association of Black Journalists in September. For Trump’s part, efforts to reach Black men voters through campaign surrogates or Trump himself have lessened in recent months. Bartell also pointed to Kevin Cooper, a Black man on death row for killing a white family, as well as marijuana convictions of Black men.

Persons: Donald Trump, Kamala Harris, Harris, Trump, —, Joe Biden, Hillary Clinton’s, Barack Obama, Dana Williams, Howard University’s, Cliff Albright, “, Stephen Jackson, Matt Barnes, Lil Wayne, Waka, Harris ’, ‘ She’s, ’ Pierce Hodges, Biden, Howard, Pierce Hodges, ”, Hodges, She’s, ” Hodges, Jimmy Hill, Jimmy Atchison, Sonya Massey, Jimmy Hill “, ” Hill, it’s, ” Harris, she’s, ” ‘, Kamala, Al Bartell, Bartell, Al, Kevin Cooper, “ I’m, ” Bartell, James Douglass, Maurissa, Douglass, ” “, “ Biden, I’m, ” Douglass, “ Obama, “ Kamala Harris, ’ Stone Ramsey, Ramsey, Black, ” Ramsey, Kamala Harris doesn’t, mispronounced Harris ’, Trump’s, Mike Tyson, Floyd Mayweather, “ Mike Tyson, Kamala Harris can’t, Patrick Oates, Patrick Oates “, Oates, ” Oates, Obama, Kevin Newell, Kevin Newell Newell, ‘, Newell, “ she’s, ” Newell Organizations: NBC News, Trump, Howard University Initiative, Public, NBC, Howard, Initiative, Black, National Association of Black Journalists, NBA, Howard University, Alpha Kappa Alpha, Columbia University, “, White, Biden, Biden —, America, Democratic, Royal Capital Group Locations: California, Black, “, Atlanta, Illinois, Detroit, China, U.S, Philadelphia, Milwaukee, America, ’

☆ Flutterwave CEO GB Agboola on rebuilding trust, and strengthening Africa’s payments future
▼ + stars: | 2024-10-17 | by ( Stephanie Busari | ) edition.cnn.com time to read: +6 min

CEO Olugbenga “GB” Agboola was celebrated for his leadership and lauded as a trailblazer in African fintech, providing digital payment services for businesses across the continent. However, Agboola says Flutterwave has weathered the storm and emerged stronger than ever. In his first major interview since the allegations, Agboola told CNN that Flutterwave is on a mission to rebuild trust and strengthen its governance practices. She says Flutterwave’s fast growth exposed weaknesses in governance, compliance, risk management strategies and inadequate internal controls. Beyond the focus on governance and structure, Agboola envisions a future where Africa’s diverse payment systems are seamlessly integrated into a unified marketplace.

Persons: Flutterwave, Olugbenga, Agboola, ” Agboola, “ We’ve, ”, Mitesh Popat, ” Popat, “, ” Bawo, ” Egbakhumeh, “ Flutterwave, Africa Agboola, we’re Organizations: CNN, Kenyan, Citibank, Nigeria’s Economic, Commission, Global, MainStreet Bank, American Express Locations: Kenya, ”, Flutterwave, Africa, Ghana, Zambia, Uganda, Rwanda, United States, Nigeria, San Francisco

☆ Stripe, Wise founders want a 'tech renaissance' in Europe to help region rival Silicon Valley
▼ + stars: | 2024-10-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Founders of some of Europe's largest technology unicorns on Monday backed an open letter calling for a "tech renaissance" fueled by the creation of a single pan-European entity to promote startups and innovation in the bloc. But because of that, our startup scene is fragmented," read the open letter, which was published Monday on a newly created website for the EU Inc initiative. This results in "stifled momentum, unrealized potential, and an artificial limit on our startups' chances of success." So-called 28th regimes are proposed legal frameworks within the EU that offer an alternative to member states' own national rules instead of replacing them. The new structure of EU Inc would "standardize investment processes, simplify cross-border operations, and create a unified employee stock options framework" to help European startups scale rapidly and attract more capital, according to a Monday press release.

Persons: Patrick Collison, Hinrikus, Eléonore Crespo, Ilkka Paananen, Miki Kuusi Organizations: EU Inc, Inc, EU, Wolt Locations: Europe, EU, Finnish

☆ Where are Gen Z's tech founders?
▼ + stars: | 2024-10-09 | by ( Amanda Hoover | ) www.businessinsider.com time to read: +10 min

So where are Gen Z's tech founders? Gen Z founders and would-be founders are stepping into a vastly different tech world from that of their predecessors — a world where launching a unicorn is far more difficult, and publicly scrutinized, than it was for the garage-band generation of Jobs and Gates. Gen Z is coming of age in an era when the same Big Tech companies are diffuse and dominant. In other words, millennial founders ran so that Gen Z founders could walk. Perhaps we won't see Gen Z founders standing before a crowd and unveiling their latest shiny products anytime soon.

Persons: Bill Gates, Steve Jobs, Jeff Bezos, Gen X, Sergey Brin, Elon Musk, Travis Kalanick, Peter Thiel, Millennials, I'm, Zuckerberg, Whitney Wolfe Herd, Brian Chesky, Elizabeth Holmes, Sam Bankman, Gen, aren't, Zers, Jerry Neumann, millennials, Uber, Z, There's, Neumann, Kimberly Eddleston, they've, Adam Neumann, Holmes, Alexandra Debow, that's, Alexandr Wang, Wang, They've, Ibrahim Rashid, Rashid didn't, COVID, Rashid, Martin Shkreli, Forbes, Alexis Barreyat, Barreyat, Julian Kage, Kage, they'd, Debow, It's, Eddleston, Emma Chamberlain's Organizations: Boomers, Columbia University, Big Tech, Northeastern University, Facebook, New York University, MIT, Wired, Forbes, University of Chicago, Deloitte, Harvard, Harvard Business Locations: swaggering, Silicon Valley

☆ Women's health startup Maven Clinic closes funding at $1.7 billion valuation
▼ + stars: | 2024-10-08 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

Kate Ryder, CEO of Maven, speaking at the CNBC Changemakers Summit in New York on April 18th, 2024. Maven Clinic, a health-care startup for women and families, announced Tuesday that it has closed a $125 million funding round at a $1.7 billion valuation. Maven CEO Kate Ryder told CNBC she founded the company in 2014 after watching her friends struggle to find the support they needed while building their families. "Digital health is just at the very beginning," Ryder told CNBC. The company was the first U.S. startup dedicated to women's and family health to ever reach "unicorn" status, or a valuation of more than $1 billion.

Persons: Kate Ryder, Maven, Ryder, Oprah Winfrey, Mindy Kaling, Reese Witherspoon Organizations: Maven, CNBC, Maven Clinic, Microsoft, Oak HC Locations: New York

☆ I drove Toyota's $55,000 Highlander Hybrid. Its noisy engine and tepid performance were disappointing.
▼ + stars: | 2024-10-02 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: +1 min

The Toyota Highlander is one of the best-selling three-row family SUVs in the US. I was disappointed by its noisy engine, tepid performance, and limited passenger/cargo space. Go to newsletter preferences Thanks for signing up! AdvertisementFor much of its existence, the Toyota Highlander was a unicorn as the only three-row, midsize family SUV available as a hybrid. Sales took a 24% dip in 2023, due in large part to the introduction of the bigger Grand Highlander.

Persons: —, Kia EV9 Organizations: Toyota, Service, Mazda, Highlanders, Honda, Hyundai, Kia Telluride, Nissan Pathfinder, Subaru

☆ How this unique business model is setting new standards in crypto asset management
▼ + stars: | 2024-10-01 | by ( Sponsor Post | ) www.businessinsider.com time to read: +4 min

Matrixport has created a crypto financial service hub that emphasizes investor success. The all-in-one crypto financial hubOne such case is Matrixport, a Singapore-based crypto asset management platform marketing itself as the "world's leading all-in-one crypto financial service hub," is outpacing traditional crypto exchanges and crypto asset management platforms. It puts investors first and creates an entry-level crypto ecosystem delivering access to integrated products and services, like crypto asset trading, investment, loans, custody, RWA, research, and more. What truly sets Matrixport apart from crypto exchanges is its business model. Founded in 2019, Matrixport manages crypto assets worth more than $10 billion and sees monthly trading volumes exceeding $5 billion.

Persons: Matrixport, Jihan Wu, Bitmain Organizations: Traders, Tech, Invest, Insider Studios, Matrixport, Business Locations: Solana, Singapore, Asia, Hong Kong, Switzerland

☆ How Europe's biggest tech campus is growing out of a Soviet-era sock factory
▼ + stars: | 2024-09-25 | by ( Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +7 min

AdvertisementNow, he said, it's changing fast, driven by Lithuania's burgeoning tech startup scene. Tech Zity, an ambitious project a short walk from Cyber City, could help to turbocharge Lithuania's tech scene. Tech Zity is set to become Europe's biggest tech campus. Like Cyber City, Tech Zity is being developed on the site of a Soviet-era factory. Tech Zity, on the site of a Soviet-era sewing factory, is under construction, and it is set to become Europe's biggest tech campus.

Persons: —, Joshua Nelken, Marijus, Vinted, Briedis, that's, Valdas Benkuskas, it's, Kipras Krasauskas, Krasauskas, gesturing Organizations: Service, Vilnius Old Town, Business, Cyber, Nord Security, Nord Security's, Security's, Soviet Union, Vilnius, BI, Tech, Kilo Health Locations: Vilnius Old, Soviet, Lithuania, Vilnius, Silicon Valley, Baltics, Central, Eastern Europe, Lithuanian, Berlin, London, Amsterdam, Cyber, Cyber City, European, City, Soviet Union

☆ AI startups should brace for a wave of down rounds, investors say. Here's how it might play out.
▼ + stars: | 2024-09-24 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +5 min

Read previewDown rounds and flat rounds for VC-backed startups have hit an all-time high this year since 2014. And AI startups, which have been the darlings of the tech ecosystem since late 2022, aren't exempt from the trend. The deal was seen by some investors as an omen for a wider phenomenon in the AI ecosystem — an impending wave of flat rounds and down rounds. "Investors went crazy for AI startups with zero revenue, at higher valuations, which will be an issue," said Umesh Padval, managing director at Thomvest Ventures. Down rounds are on the riseIn 2022, 90.2% of AI startups in the US raised up rounds, while 6.5% raised down rounds, according to PitchBook data.

Persons: —, we've, Andreas Riegler, Umesh Padval, Padval, Francesco Ricciuti Organizations: Service, Microsoft, Business, Big Tech, APEX Ventures, Jasper, Google, Thomvest Ventures, Runa Locations: London

☆ The hottest AI startups are raising back-to-back funding rounds. Suddenly, it's feeling very 2021 in Silicon Valley for a chosen few.
▼ + stars: | 2024-09-20 | by ( Ben Bergman | Melia Russell | ) www.businessinsider.com time to read: +11 min

Read previewIn February, Glean announced a $200 million funding round valuing the AI enterprise software startup at $2.2 billion. AdvertisementThe transaction is the latest in a string of dizzying back-to-back funding rounds at ever-higher valuations for a handful of AI startups that stand in stark contrast to the doldrums of the overall market for startups. Earlier this year, Sakana raised $30 million in a seed funding round led by Lux Capital. Slingshot AI, which has built an automated mental health counselor, also raised separate rounds of funding just months apart. Advertisement"VCs are increasingly faced with frequent requests from their hot AI companies to follow on or double down on investments," said Iris Sun, an investor at 500 Global.

Persons: —, Glean, Arvind Jain's inbox, Jain, Steve Brotman, Perplexity, SoftBank, Sakana, Gregg Hill, that's, Matt Murphy, Dario Amodei, Kimberly White, Murphy, I'd, I've, Jenny Chang, Rodriguez, Jai Das, Rajeev Dham, couldn't, Das, Sapphire, Uber, Iris Sun, Chandrasekar Organizations: Service, Business, DST Global, Alpha Partners, Bloomberg, Google, New Enterprise Associates, Khosla Ventures, Lux Capital, Parkway Venture Capital, Menlo Ventures, Getty, Sapphire Ventures, Investments Locations: Tokyo

☆ This once-obscure power company is a 'unicorn' poised for new highs on data center demand, analysts say
▼ + stars: | 2024-09-19 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

Talen's surge comes on the back of its deal to sell a data center campus to Amazon Web Services and supply the facility with nuclear power from the Susquehanna station northwest of Allentown, Pennsylvania. The deal is viewed as a trailblazing agreement for the power industry, and Wall Street has taken notice. A year ago, Talen was not covered by any Wall Street analysts, according to FactSet data. And Talen's assets are located almost entirely in the PJM grid, a predominantly mid-Atlantic region where power prices are expected to explode as demand outstrips supply due in part to growing data center load. Data center developers are expected to spend $250 billion annually on data centers, Barclays analyst Nicholas Campanella said in a note this week.

Persons: Talen, Shahriar Pourreza, Pourreza, TLN, William Appicelli, Nicholas Campanella, Campanella, amortization, Appicelli Organizations: Talen Energy Corporation, Amazon Web Services, Street, Barclays, Guggenheim, Jefferies, UBS, Susquehanna, Talen Energy, AWS, American Electric Power, AEP, Federal Energy Regulatory Commission Locations: Susquehanna, Allentown , Pennsylvania, Wednesday's

This tapestry hangs in the Cloisters, the Upper Manhattan branch of the Metropolitan Museum of Art. The Metropolitan Museum of ArtBut what are they? The Metropolitan Museum of Art“The unicorn is more of a symbol of that one person that you look for throughout your life,” she said. “All images, be they medieval tapestries or contemporary paintings or photos in the news, communicate best over duration,” Ms. Perratore said. The Metropolitan Museum of ArtUltimately, this exercise was only sort of about the unicorn or medieval art — or art at all.

Persons: You’ll, Karsten Moran, The New York Times It’s, John D, Rockefeller, Julia Perratore, … Karsten Moran, The New York Times …, Christ, Ms, Perratore, ”, he’s, you’ve, There’s, Virgin Mary Organizations: Metropolitan Museum of Art, The New York Times, Rockefeller Jr, The New York Locations: Upper Manhattan, Paris, Brussels

☆ Exclusive: Women's health unicorn Maven Clinic is raising over $100 million from PE firm StepStone
▼ + stars: | 2024-09-11 | by ( Rebecca Torrence | Sri Muppidi | ) www.businessinsider.com time to read: +1 min

Women's health unicorn Maven Clinic is raising over $100 million in a new funding round. PE firm StepStone Group is set to lead the round, which would value Maven at $1.7 billion. AdvertisementWomen's health unicorn Maven Clinic is grabbing fresh capital in a new funding round, Business Insider has learned. The startup is raising over $100 million in the round, according to two people with knowledge of the deal. This story is available exclusively to Business Insider subscribers.

Persons: Maven, — Organizations: StepStone, Service, Business Locations: Sequoia

☆ 3 ways Wall Street's largest banks are leveraging AI to increase profitability
▼ + stars: | 2024-09-07 | by ( Morgan Chittum | ) www.cnbc.com time to read: +8 min

Over the past year, Wall Street's largest names — including Goldman Sachs , Bank of America , Morgan Stanley , Wells Fargo to JPMorgan Chase — ramped up their generative artificial intelligence efforts with the aim of boosting profits. MS YTD mountain Morgan Stanley YTD AI use cases for key businesses Morgan Stanley was among the first on Wall Street to publicly embrace the technology, unveiling two AI assistants for financial advisors powered by OpenAI. Launched in September 2023, the AI @ Morgan Stanley Assistant gives advisors and their staff quick answers to questions regarding the market, investment recommendations, and various internal processes. If it does, that would be welcome news for shareholders after Morgan Stanley's wealth segment missed analysts' revenue expectations in the second quarter . However, As long as these costs don't outweigh return on investment (ROI), we're happy with Wells Fargo and Morgan Stanley's moves to innovate.

Persons: Goldman Sachs, Morgan Stanley, Wells, JPMorgan Chase — ramped, Jamie Dimon, Alexandra Mousavizadeh, OpenAI's ChatGPT, Jeff McMillan, Morgan, McMillan, It's, Morgan Stanley's, Evident's Mousavizadeh, Banks, Mousavizadeh, Tracy Kerrins, Morgan Stanley's McMillan, He's, Morgan Stanley's OpenAI, Teresa Heitsenrether, Jim Cramer's, Jim Cramer, Jim Organizations: Bank of America, JPMorgan, Citi, Microsoft, Nvidia, OpenAI, CNBC, Google, Deutsche Bank, BNP, Mistral, TD Bank Group, Big, Wall, New York Stock Exchange, Bloomberg, Getty Locations: Wells Fargo, Silicon, management's, Wells, New York

☆ I've spent 50 years in one of the 'best places to live.' I love it, but that doesn't mean moving here is a good idea.
▼ + stars: | 2024-09-03 | by ( Helen Wolkowicz | ) www.businessinsider.com time to read: +10 min

Montreal is a gem of a city: It's safe and walkable, with a vibrant nightlife and a cultural calendar packed with events. It's also one of the fastest-growing cities in Canada, so why wouldn't you want to get in on the action? AdvertisementIt has become harder for Montreal renters to check everything off their wish lists without raising budgets. AdvertisementGiven the condition of Montreal's housing market, our "starter" is now just our forever home. Christopher O'Donnell/ShutterstockBusinesses also have to compete against the city's carousel of construction projects, which can reduce foot traffic, among other issues.

Persons: —, It's, I've, Lisette Jemmott, Anatoli Igolkin, Jemmott, she's, Michael Falduto, isn't, Catherine Zibo, Falduto, it's, Glenn Castanheira, Marc Bruxelle, Yönder, Christopher O'Donnell, Castanheira, Helen Wolkowicz Organizations: Service, Business, The Coalition, Housing Committees, Associations of Quebec, McGill, Concordia, Concordia University, City, Montreal —, Montreal Locations: Finland, Montreal, Canada, Canadian, Toronto, Quebec, City of Montreal

☆ Inside Netflix's hunt for its next ads leader and what it signals about the company's future
▼ + stars: | 2024-09-03 | by ( Lucia Moses | ) www.businessinsider.com time to read: +9 min

Reinhard parted ways with previous ad sales leader Peter Naylor in July, in Netflix's second ads leadership shake-up in two years. To get a sense of how Reinhard is approaching the hire, Business Insider spoke with 11 people who had inside knowledge about the search or who are close to Netflix's ad business. Others with those credentials who some insiders think could be in the mix include Pooja Midha, EVP and GM for Effectv, the ad sales arm of Comcast's cable division. "They view ad sales as having a lack of rigor and discipline," the first person who'd had conversations with Netflix said. Netflix also shook up its ad sales leadership twice, with its first ads leader Jeremi Gorman being replaced after a year, and then with Naylor's recent exit.

Persons: —, Amy Reinhard, Reinhard, Peter Naylor, Lisa Valentino, WBD's Ryan Gould, Jim Keller, Pooja Midha, who'd, Naylor, Dimitrios Kambouris, Greg Peters, Peters, hadn't, Jon Whitticom, Whitticom, Netflix's, Jeremi Gorman, they're Organizations: Service, Madison, Business, Netflix, Warner Bros, Disney, Effectv, Hulu, Google, Big Tech, Insiders, Prime, Microsoft, Street Journal, NFL Locations: Madison

☆ This water treatment startup is already a unicorn, and has $225 million in VC funding
▼ + stars: | 2024-08-27 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

While it might seem like humans and animals consume most of the world's water, heavy industry uses up to half of it. That's why business sectors are looking for new ways to recycle water, especially in the face of increased drought. The global water and wastewater treatment market is expected to reach half a trillion dollars by the end of this decade, according to Statista. "Other technologies can recover maybe 50 to 60% of water, but we can recover 99% of water," Govindan said. It claims to save 1.7 billion gallons of water daily, or the amount consumed by 48 million people.

Persons: Prakash Govindan, Anurag Bajpayee, Govindan, Gradiant, Mark Danchak, Warburg Pincus, Lisa Rizzolo Organizations: Massachusetts Institute of Technology, MIT, BMW, Pfizer, Adnoc, General Innovation Capital Partners, G Investments, Clearvision Ventures, CNBC Locations: Statista, Veolia, Boston

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