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☆ Nearly a million more children fell into poverty last year. Both presidential campaigns want to give parents money to fix that.
▼ + stars: | 2024-09-10 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +5 min

Read previewMore children fell into poverty last year — and it could signal a major issue for both candidates as the presidential election heats up. But child poverty rose faster than that, from 12.4% to 13.7%. "The effectiveness of such a policy is evident when one considers the effects of the Child Tax Credit." And with child poverty only worsening, what candidates can deliver for parents might be particularly salient. Is the rise in child poverty and lack of assistance impacting your family?

Persons: —, Steven Durlauf, Joe Biden's, Kamala Harris, Donald Trump's, Joseph Costello, Harris, Walz, JD Vance, Anna Kelly, Kelly, Trump, Adam Ruben, Josh Bivens, they'd Organizations: Service, Business, The University of Chicago, Stone Center for Research, Harris School of Public, Child Tax, Pew Research Center, Economic Security, Census, Economic Policy Institute, jkaplan Locations: U.S

☆ I was laid off from Deloitte after I struggled to fit in. My coworkers wore burnout like a badge of honor, and I had to dim my personality.
▼ + stars: | 2024-09-09 | by ( Tess Martinelli | ) www.businessinsider.com time to read: +12 min

When I received a call from a Deloitte representative saying I'd landed a post-grad job as an actuarial analyst, I was ecstatic. But I didn't feel like there was space to express my femininity. I honestly didn't feel like there was a way to thrive in a more masculine environment without entirely abandoning my femininity, so I tucked away my spiritual, bubbly side. AdvertisementI didn't feel safe confiding in anyone about my workload concerns because everyone around me seemed to wear their burnout as a badge of honor. My superiors encourage me to leave work at work and I finally have time to nourish my hobbies and relationships.

Persons: —, Cierra Desmaratti, It's, I'd, That's, hadn't, Deloitte's, I've, Tess Martinelli Organizations: Service, Deloitte, Business, North Central College, Deloitte's Chicago, International Association of Black Actuaries, Transamerica, Big Locations: Miami, Naperville , Illinois, Deloitte's, Chicago, Transamerica, tmartinelli

☆ Starbucks' new CEO just started the job. Here's what he could shake up, from the menu to the C-suite.
▼ + stars: | 2024-09-09 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

Niccol, who has spent six years as the CEO of Chipotle, officially took the reigns at Starbucks on Monday. Niccol could also bring big changes to Starbucks' menu and stores. Related storiesNiccol "will bring a similar discipline that will enable Starbucks to better succeed with menu innovation," Charles wrote. New menu items — including those that target new meals and times of the day — could also be on the agenda, Deutsche Bank's Silberman wrote. Niccol could implement a similar strategy at Starbucks and use it to expand Starbucks' breakfast and lunch offerings, she said.

Persons: —, Brian Niccol, Laxman Narasimhan, Niccol hasn't, isn't, didn't, John Ivankoe, Lauren Silberman, John Culver, Roz Brewer, Silberman, Niccol, Chipotle, Cowen, Andrew Charles, Charles, Deutsche Bank's Silberman, Gregory Francfort, skillset, Taco Bell, Eric Gonzalez, Narasimhan, Niccol's, Gonzalez Organizations: Service, Starbucks, Business, JPMorgan, Deutsche Bank, Walgreens, Deutsche, Guggenheim Partners, Taco, Capital Locations: China

☆ A millennial woman who made nearly $250k secretly working 2 jobs says it helped her enter a relationship for the 'right reasons' — not financial security
▼ + stars: | 2024-09-09 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

She focused on this gig early in the morning, in the evening, on the weekends, or during working hours on the days her full-time employer allowed her to work from home. While overemployment has increased Olivia's work-related stress, it's reduced her financial stress — something she said has helped her pursue a healthy romantic relationship. That's because the long working hours can take a toll, and remote job opportunities can be difficult to land. As long as she lives in her area of California, she's not sure she'll ever buy a home. Are you working multiple remote jobs at the same time and willing to provide details about your pay and schedule?

Persons: —, Olivia, What's, Doxo, jugglers, she's, overemployment, Overemployment, it's Organizations: Service, Business, New York Times, BI Locations: California's Bay, San Francisco, San Jose, Bay, California

☆ A major student-loan company is once again at the center of a lawsuit blocking debt cancellation for millions of borrowers
▼ + stars: | 2024-09-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

Even with the financial burden his student debt has brought him, Larry said he has tried to remain optimistic about the prospect of debt relief, given President Joe Biden and Vice President Kamala Harris' actions during their term. Larry and millions of other student-loan borrowers will have to keep waiting. It's the same argument a different group of GOP states used that led the Supreme Court to strike down Biden's first attempt at broad debt relief last summer. Their arguments are based on internal documents the states obtained from the Education Department to federal student-loan servicers regarding preparation to implement its second try at broader debt relief. According to the documents, the Education Department sent a memo to MOHELA saying, "In September of 2024, the Biden-Harris Administration will launch the Federal Student Loan Debt Initiative."

Persons: missouri Larry, bachelor's, Larry —, —, Larry, Joe Biden, Kamala Harris, I've, they've, I'm, Biden, Biden's, Luke Herrine, Herrine, Harris, Sen, Bill Cassidy, MOHELA, he's Organizations: Service, Business, Higher, University of Alabama, GOP, Department of Education, Education Department, Biden, Harris Administration, Federal, Loan, Initiative, Department, Republican Locations: missouri, Georgia's, Missouri, Missouri , Georgia, Alabama , Arkansas, Florida, North Dakota, Ohio

☆ I tried suburban living for 3 years and was miserable. I'm back to city life and never looking back.
▼ + stars: | 2024-09-08 | by ( Jane Zhang | ) www.businessinsider.com time to read: +7 min

We looked for places in the city but couldn't really find anything in our $1,500 budget that suited our needs. AdvertisementLooking back, I wish we'd spent more time looking for a place in the city instead of escaping to the suburbs. AdvertisementWhen we lived in the city, we'd see friends just about every weekend and could decide to hang out pretty spontaneously. My depression got worse, and I realized how much of my health and well-being had been tied to a city lifestyle. AdvertisementThe car culture in the suburbs really drove me over the edge; it got to the point where I stopped wanting to go out and do things.

Persons: —, Randall Galbreath, Braden, COVID, we'd, we've, I've, Jane Zhang Organizations: Service, Business, Getty Center Locations: Chicago, Los Angeles, Chicago's Uptown, Arlington Heights, Lake Michigan, LA, Randall Galbreath West Hollywood, We're

☆ I work on Tesla's Autopilot team. I watch hours of customers' driving videos every day and am monitored constantly.
▼ + stars: | 2024-09-08 | by ( Grace Kay | ) www.businessinsider.com time to read: +6 min

Business Insider has verified their identity and employment and corroborated their claims during our reporting on Tesla's Autopilot facilities. I didn't have any automotive or manufacturing experience before I began working on the Autopilot project. A Tesla has 9 different cameras that collect data the Autopilot team goes through in order to teach the Full Self-Driving and Autopilot software how to drive like a human. I spend hours everyday going over videos that were taken from customer cars and Tesla's in-house test drivers. AdvertisementWithin the program there are many different little projects that are all combined to create the greater Full Self-Driving and Autopilot experience.

Persons: Tesla, who'd, it's, you'd, I've Organizations: Service, Business, Tesla, Reuters Locations: Buffalo , New York

☆ How some workers are using AI to save time — even though they fear the tech could replace them
▼ + stars: | 2024-09-07 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +9 min

Despite the potential downsides of AI adoption in the workplace, several workers told Business Insider that they're using AI tools to enhance their skill sets, productivity, and job performance. AI fears have led some people to embrace the technologyTricia LaRue said using AI tools like ChatGPT has helped her save time as a marketing professional. Meanwhile, others are "very resistant" to using AI, view it as "concerning and scary" and want to avoid using it for as long as possible. In addition to concerns about AI job replacement, Granger said the overall uncertainty of the AI future can stress out some workers. Mastering AI might not be the only way to protect oneselfSainag Nethala said using AI tools typically save him about 10 to 15 hours a week on work tasks.

Persons: —, Gabrielle Gerbus, Jasper, ChatGPT, Gerbus, she's, Goldman Sachs, they're, Ben Granger, Tricia LaRue, Tricia LaRue Granger, Granger, It's, LaRue, Anchlia, Ankit, James Delage, Claude, Sainag Nethala, Sainag, Grammarly, Nethala, he's, I'm Organizations: Service, Business Locations: California, Missouri, Minnesota, Texas, Illinois

☆ Ordering delivery has gotten wildly expensive
▼ + stars: | 2024-09-07 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

AdvertisementThe premium that diners pay to have their food delivered can be hefty. That might make delivery seem like an obvious place for consumers to cut back their spending these days. DoorDash customers have continued ordering food — and, increasingly, groceries and other products — from the service, Xu said. He and his wife still have Thai food delivered, for instance, when they have friends over in the evenings and don't want to interrupt socializing with a trip to pick up dinner. Do you work for a gig delivery service and have a story idea to share?

Persons: —, Ravi Wadan, Wadan, Uber, Taco Bell, Tony Xu, We're, Xu, hasn't, Dara Khosrowshahi, Khosrowshahi Organizations: Service, TikTok, Business Locations: Seattle, FinanceBuzz, McDonald's

☆ A Gen Z left a $70,000 salary in the US and moved to Thailand without a job. He says he's better off financially and happier in Bangkok.
▼ + stars: | 2024-09-06 | by ( John Towfighi | ) www.businessinsider.com time to read: +6 min

Read previewMyles Simms-Aur had a $70,000 salary, a nice car, and a stable routine living in Maryland. But he wanted to experience the world and felt financially restrained by the cost of living in the US. As of 2022, 132 US Navy veterans lived in Thailand, according to a Department of Defense report published in October 2023. He hopes to save and build wealth by living abroad before eventually returning to the US to further his career in cybersecurity. Given the low cost of living, he can afford to explore more of the world while still saving.

Persons: —, Myles Simms, Aur, Simms, " Simms, Aur Simms Organizations: Service, Business, Navy, Department of Defense, US, US Navy, Facebook, University of Maryland Global, Thai Locations: Maryland, Mexico, Brazil, Portugal, Bangkok, Thailand, Philippines, Japan, Italy, Spain, United Kingdom, St Mary's County , Maryland, cybersecurity, Malaysia, Singapore, American

JD Vance's plan to tackle high childcare costs may not take into account the looming retirement crisis facing millions of older Americans. When Kirk asked how Vance planned to address the issue, Vance suggested extended family members step in to relieve the financial burden on parents. AdvertisementNot many states require childcare workers to have college degrees or certifications. But he may have been referring to a new law in the nation's capital that requires many childcare workers to have a two-year associate degree, among other training. Vance has condemned universal childcare, calling it a subsidy for the affluent and a "class war against normal people."

Persons: JD Vance's, Vance, Donald Trump's, Charlie Kirk, —, Kirk, didn't, who's, that's, Linda, Katie Britt, Alabama, Mike Lee of, Laurie Furstenfeld Organizations: Service, Bank of America, Survey, Social Security, Business, Republicans, Congress, Child Care Law, asheffey Locations: California, Florida, Mike Lee of Utah, Berkeley , California

☆ A Gen Xer quit a $110,000-a-year job in DC for one in Germany that pays less than half. He says he's more financially stable and happier now.
▼ + stars: | 2024-09-05 | by ( John Towfighi | ) www.businessinsider.com time to read: +6 min

Smith briefly lived in Germany in the early 2000s when he worked as a judge advocate general for the US Army. "That trip that I took to Germany completely changed my world," Smith, 52, told Business Insider. He said life in Germany made him realize how much he enjoyed traveling outside the US. Related storiesIn April 2021, Smith landed a job at the Small Business Administration as an attorney overseeing COVID-19 pandemic-era loans. At that point, Smith visited the Dominican Republic with a friend.

Persons: —, Kobi Smith, Smith, he's Organizations: Service, US Army, Business, Social, Social Security Administration, Social Security, US Army Reserves, Army, Small Business Administration, Washington Locations: Germany, Nuremberg, Europe, Canada, Japan, Mexico, Maryland, Washington, DC, COVID, Dominican Republic, Popeyes, Ansbach, Washington ,, American

☆ A Gen Zer left Boston for New York City because housing was expensive and it offered a 'fraction of the life experience'
▼ + stars: | 2024-09-04 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

After spending a few months researching places to live, New York City — the borough of Brooklyn in particular — stood out. "Cities like Boston that used to seem affordable are feeling just as expensive as New York City for a fraction of the experience," she added. Rent in New York City and Boston can vary considerably depending on where one looks, but New York is generally more expensive. The median rent for a one-bedroom apartment in New York City is $3,300 compared to $2,600 in Boston, per Zillow. AdvertisementAside from housing, White said one of the most expensive parts about living in New York City is the costs that come with having a social life.

Persons: Jillian White, White, —, Georgia —, she's, it's, Boston — Organizations: Service, New, Boston University, Business, Apple, New York City —, Boston Locations: New York City, Boston, , New York City, Brooklyn, Brooklyn's Bedford, Stuyvesant, Cities, York City, New York, Florida , Texas , California, North Carolina, Georgia, NYC, York, White, Beacon Hill, Seaport, Fenway, Manhattan

☆ A travel influencer said social media has become a 'copycat rabbit hole' with little support for original content creators
▼ + stars: | 2024-08-31 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +7 min

But she said social media just isn't what it used to be. As a result of the influx of newer influencers, longtime content creators are seeing a decline in their audience engagement. The company has a website dedicated to resources for Instagram creators, including tips and explanations about its ranking system and algorithms. There is not a specific section addressing creator mental health, though a blog post from Mental Health Awareness Month in 2023 briefly addressed the issue. I started from being a backpacker and having no money," she said, adding she still loves her job and sees herself working in social media long-term.

Persons: —, Bree Rose, Rose, Instagram, she's, Zers, Goldman Sachs, Julia Broome, It's Organizations: Service, Business, Social, Mental Health Locations: Washington, Mexico, France, Los Angeles

☆ The 4 best strategies Kamala Harris uses to handle being interrupted, according to a professional speaker
▼ + stars: | 2024-08-30 | by ( Tess Martinelli | ) www.businessinsider.com time to read: +5 min

As a leadership speaker and expert on workplace confidence, I've spent decades analyzing the best techniques for garnering attention and communicating effectively. Pointed eye contact can force the interrupter to acknowledge youWhen interrupted by Mike Pence during the 2020 Vice Presidential debate, Harris turned her attention to Pence and made pointed eye contact with him. She didn't shrink away from the interaction or internalize his disruption; rather her eye contact demonstrated authority, confidence, and control over the situation. Related storiesMaking eye contact with someone who's been dismissive of you demands their attention and forces them to acknowledge you. Harris uses this strategic repetition to highlight just how many times she's been interrupted or disrespected.

Persons: —, Selena Rezvani, It's, I've, Kamala Harris, Harris, Mike Pence, she's, Pence, who's, they're, Tess Martinelli Organizations: Service, Business Locations: Philadelphia, tmartinelli

☆ A laid-off baby boomer got frustrated with the job hunt, so he started his own business. He explains why age is an asset for entrepreneurs.
▼ + stars: | 2024-08-26 | by ( John Towfighi | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. "It's about leaning into my age and experience as an asset versus being 'too old' for the startup world," Loria, 61, said. A survey by Gusto, a payroll-services company for small businesses, found that nearly one in four new businesses started in 2023 were in the professional-services industry. It also found that among the businesses started by people 55 and older in 2023, about 35% were in the professional-services industry. He said there was a "natural match" between younger and older founders: He appreciates the boldness and drive of younger founders and thinks he can provide the wisdom that he's developed over the years.

Persons: —, Joseph Loria, Loria, RetentionCX, he'd, he's Organizations: Service, Business, Tulane University

☆ Working for Doordash and Grubhub increasingly feels like a 9-5. And that may be bad news for the companies.
▼ + stars: | 2024-08-24 | by ( Alex Bitter | ) www.businessinsider.com time to read: +6 min

Read previewOn weekends, a gig delivery worker in Utah takes out his phone and opens one of three apps to make some extra money as an independent contractor. However, the people doing the work say that things like performance metrics often eat into that flexibility. "It doesn't feel much like I'm on contract," the Utah gig worker told Business Insider. But metrics such as this are just one aspect of delivery gig work that workers say feels like a traditional job. Related storiesFor example, one Chicago delivery worker told BI that he avoids Grubhub due to the app's scheduling feature.

Persons: —, Uber, Grubhub doesn't, Instacart, DoorDash, they're, Grubhub, David Jacobs, Jacobs, there's Organizations: Service, Business, Costco, Walmart, US Department of Labor, Trump, Kogod School of Business, Wall Locations: Utah, Chicago, Seattle

☆ Why Black men's job situation is worse than it looks
▼ + stars: | 2024-08-24 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +10 min

That means that the tens of thousands of Black men who are incarcerated aren't being included in these calculations, effectively boosting the Black male employment rate. As of July, the BLS estimated a there were 16.2 million US Black men in the noninstitutional population, compared to 18.8 million Black women. AdvertisementThe bottom line: If the survey data had a more complete picture of Black men, Holzer said the Black male employment rate would likely be "considerably worse." Education differences and discrimination can work against Black menEducation is one factor that can help explain the lower employment rate of Black men, Wilson said. A strong job market and workforce development programs could drive progressThere are several things that might help get more Black men into the workforce.

Persons: —, there's, it's, Harry Holzer, aren't, Holzer, Valerie Wilson, Wilson, Jared, Black, didn't, weren't, " Holzer Organizations: Service, Business, Georgetown University, US Department of Labor, Pew, BLS, Black, University of California, University of Chicago, BI, Harvard, Stanford, Initiative Locations: Berkeley

Though many say they are thankful to have Social Security payments at all, they aren't enough to fill the gap. To help pay the bills, nearly 80% of retirees receive some Social Security income, per BI's calculations, and the Social Security Administration estimates that 97% of older adults will ultimately receive benefits. She told BI that her expected $2,000 monthly Social Security payments may not be enough. As pensions dissipate and only higher-earning retirees have savings, Social Security might only become more pivotal for retirees. Advertisement"I don't want to be rich, I just need to be comfortable," 62-year-old Angela Babin — who lives on her $1,100 monthly Social Security check — told BI.

Persons: —, Emma Echols, she'll, Echols, she's, She's, Xers, Tracey Gronniger, Cheryl Simmons, Franklin D, Roosevelt, they've, Mary Dacus, Stephen, They've, Becky Davenport, Davenport, Donald Trump, Bernie Sanders, Elizabeth Warren, Gronniger, Angela Babin — Organizations: Service, Social Security, Business, Social, Security, Social Security Administration, SNAP, Pew Research Center, Republican, Republicans, allisonkelly Locations: Alabama, San Diego, Spain, Greece, Robinson , Illinois, Florida, Anchorage

☆ My husband retired 5 years ago and I still run my own business. Our schedules are different, but we make it work.
▼ + stars: | 2024-08-24 | by ( Cailey Griffin | ) www.businessinsider.com time to read: +5 min

At 57, I'm still working as the principal of my own public relations and digital communications firm while my husband, Michael, is retired. AdvertisementI love my work and enjoy mentoring young peopleI really enjoy the work I do in my business and giving back to young people through mentorship, which I do through my business and outside it. Though he retired five years ago, I've only recently gotten better at communicating with him about my work schedule, so it takes time. Instead of assuming he knows I'm working, I'll go into a quiet room and close the door. When Michael first retired , I fell into the trap of thinking, "Oh, you're retired, of course, you'll do certain tasks instead of saying I'm working, would you be willing to run this errand?"

Persons: Ruth Furman, I'm, Michael, I've, we've Organizations: Service, ImageWords Communications, Security, Business Locations: Las Vegas, Chicago, Indiana

☆ Don't get your hopes up about the housing market
▼ + stars: | 2024-08-24 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

One of the most painful ways higher interest rates have impacted Americans is through higher housing costs. The combination of high borrowing costs and skyrocketing home prices and rents — caused by a housing shortage — has created an enduring housing affordability crisis. On the one hand, lower borrowing costs would likely make mortgages cheaper for buyers and encourage builders to construct desperately needed new homes. But rate cuts would also spur new home construction, as builders respond to higher demand and lower borrowing costs for acquisition and construction loans. On top of high borrowing costs, builders are struggling with a severe shortage of construction workers and high building material costs.

Persons: —, Jerome Powell, Daryl Fairweather, Wells, underbuilding, Ben Metcalf, Metcalf Organizations: Service, Jackson Hole , Wyoming ., Business, Bank of England, Terner Center, Housing Innovation, UC Berkeley Locations: Jackson Hole , Wyoming

☆ This couple went on one cruise together. Now, they're moving onto a never-ending residential cruise ship.
▼ + stars: | 2024-08-24 | by ( Brittany Chang | ) www.businessinsider.com time to read: +8 min

AdvertisementThat is, until this spring, when Canen and Bodin, both 54, uprooted their lives in Maui, Hawaii, to move onto a new residential cruise ship called Villa Vie Odyssey. AdvertisementThe couple sold their business in MauiBodin told BI that before Villa Vie, the couple had never really considered leaving Maui. "We went pretty much every day for two weeks and spent all day there until they kicked us off," Canen told BI. AdvertisementBefore committing to Odyssey, Canen and Bodin looked into Storylines, which plans to construct its own residential cruise ship, MV Narrative. AdvertisementAre you sailing on a residential cruise ship like Villa Vie or have a tip?

Persons: —, Lanette Canen, Johan Bodin, Canen, Bodin —, we'd, Bodin, Mikael Petterson, Fred Olsen Cruise, Lanette, Villa Vie's, Villa, Maui Bodin, they've, Petterson, Villa Vie, We're, Angela, Stephen Theriac Canen, they'd, Kendra Holmes, they're Organizations: Service, Business, Villa, Residences, Fred Olsen Cruise Lines, South Pacific, YouTube, Sea Cruises, Cruises, Victoria Cruises Locations: Maui, Hawaii, Europe, Asia, Australia, South, North America, Africa, Belfast, Ireland, Braemar, Maui —, Italy, Croatia, Slovenia, Sweden, Canary, Norwegian, Villa Vie, Canen, Petterson

☆ My husband has been a teacher for 18 years. This is the beginning-of-school motto our family lives by.
▼ + stars: | 2024-08-21 | by ( Saba Khonsari | ) www.businessinsider.com time to read: +4 min

My husband is about to start his 19th year of teaching, our eldest is starting 7th grade, and our youngest is starting 1st grade. Most of our parent friends try to control for all the variables — school, teachers, and sometimes even friends or classmates — and we've learned that it rarely works as intended. Even though the school was "better" on paper, it did not mean it was the better academic situation for every student. My husband and I, who are actively hands-off when requesting teachers, broke our rule regarding our youngest starting pre-K in our public independent school district. Though her teacher was amazing, still, our youngest had a completely different experience and struggled through most of her first year.

Persons: —, we've, Elizabeth Stone Organizations: Service

☆ Read the college essay a Harvard grad wrote about McDonald's that landed him offers from Harvard, Yale, and Princeton
▼ + stars: | 2024-08-21 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +4 min

Read previewWhen Jeffrey Wang was a high-school senior in Connecticut in 2014, he wasn't sure what to write about for his college application essay. AdvertisementHe wanted to show his personalityHe read Harry Bauld's book, 'On Writing the College Application Essay,' which made him realize college admissions officers wouldn't have time to read each essay diligently. Authenticity is keyThe essay summarizes how Wang discovered his local McDonald's was an ideal place to study and meditate. AdvertisementHe got into Yale, Harvard, and PrincetonGrowing up, Wang dreamed of attending Yale in his home state of Connecticut. AdvertisementDo you have a college admissions success story?

Persons: —, Jeffrey Wang, he'd, Wang, Harry Bauld's, wouldn't, they're, they'd, you'll, Ella Hopkins Organizations: Service, Business, Yale, Harvard, Princeton, Duke, MIT Locations: Connecticut, Cheshire , CT, McDonald's, San Francisco, ehopkins

☆ VMware customers report massive price increases since Broadcom takeover: 'Feels quite a bit like being held for ransom'
▼ + stars: | 2024-08-20 | by ( Rosalie Chan | Ashley Stewart | ) www.businessinsider.com time to read: +10 min

AdvertisementVMware customers report seeing massive price increases since Broadcom acquired VMware late last year, with some paying as much as 10 times as much for the same services. VMware price hikesDave Russell, senior vice president and head of strategy at Veeam, said his company saw a 300% price increase in the VMware products it's using. Hinkley said CloudBolt's customers have seen VMware price increases ranging from 140% to 600%. Hinkley said longtime VMware customers have spent years developing code and automation processes in their IT infrastructure specifically for running VMware products. Similarly, Virtuozzo CEO Alex Fine said over 200 providers approached his company as a result of the price increases.

Persons: —, Craig Hinkley, Rick Vanover, David Rowe, Dave Russell, he's, Russell, Hinkley, they'd, Forrester, Rowe, We've, Steve Tuck, Renee Wells, Wells, Alex Fine, We're, Fine, Rajiv Ramaswami, Ramaswami, Rosalie Chan, Ashley Stewart Organizations: VMware, Service, Broadcom, VMware's, Microsoft, Gartner, Oxide Computer, Rimini, Dell, Nutanix Locations: Rimini, rosal

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