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☆ Kamala Harris' tech allies on track to raise over $100 million as they work to win over Silicon Valley skeptics
▼ + stars: | 2024-07-24 | by ( Brian Schwartz | ) www.cnbc.com time to read: +1 min

Vice President Kamala Harris' allies in the tech community have launched a behind-the-scenes lobbying campaign to convince wealthy donors to back her campaign for president, according to people familiar with the matter. Longtime investors Reid Hoffman and Ron Conway have been among Harris' allies in Silicon Valley privately calling on those in their networks to support the vice president over former President Donald Trump, these people explained. The conversations have been ongoing since Sunday, when President Joe Biden dropped out of the race and endorsed Harris, according to people who described the discussions to CNBC. Hoffman convinced Netflix chairman Reed Hastings to support Harris with a $7 million donation to a pro-Harris PAC, according to The Information. A source familiar with the lobbying push by Conway, Hoffman and others estimates that their efforts alone are on track to raise over $100 million from major tech industry donors.

Persons: Kamala Harris, Reid Hoffman, Ron Conway, Harris, Donald Trump, Joe Biden, Conway, Marc Andreessen, Ben Horowitz, Andreesen Horowitz, Hoffman, Reed Hastings, Hastings, Biden, congrats Organizations: CNBC, Trump, Netflix, Harris PAC, Democratic, Conway Locations: Silicon Valley, California

☆ Renewable energy demand will triple as electricity consumption surges, NextEra CEO says
▼ + stars: | 2024-07-24 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

In this photo illustration the stock market information of NextEra Energy, Inc. seen displayed on a smartphone with NextEra Energy, Inc. logo in the background. Igor Goloniov | LightRocket | Getty ImagesRenewable energy demand will triple over the next seven years as data center growth accelerates to facility the proliferation of artificial intelligence, the NextEra Energy CEO said Wednesday. Of those, 860 megawatts — or 28% — of which comes from agreements with Google to power the tech company's data centers. "These results support our belief that the bulk of the growth demand will be met by a combination of renewables and battery storage." Rebecca Kujawa, CEO of NextEra Energy Resources, a subsidiary NextEra Energy, said it will take time to nail down concrete numbers on exactly how much demand is coming from data centers in particular.

Persons: Igor Goloniov, NextEra, John Ketchum, Brian, Ketchum, Rebecca Kujawa, Kujawa Organizations: NextEra Energy, Inc, LightRocket, Getty, Google, U.S, Consulting, Rystad Energy, NextEra Energy Resources Locations: U.S, Turkey

☆ Elon Musk doubles down on Tesla's Dojo supercomputer, aiming to compete with Nvidia
▼ + stars: | 2024-07-24 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

Read previewElon Musk is barrelling full steam ahead on Dojo — Tesla's supercomputer project and attempt at competing with AI chip superstar Nvidia. Musk acknowledged he is "quite concerned" about Tesla's inability to access the top-tier Nvidia graphics processing units, or GPUs, because of skyrocketing demand for microprocessors within the tech sector. "We do see a path to being competitive with Nvidia with Dojo," Musk said. While the tech company has only become a household name in the last year, Nvidia has been working on its signature chips for years. "We've really got to make Dojo work," Musk said during the call.

Persons: —, Elon, Musk, Tesla, Stephen Witt Organizations: Service, Nvidia, Business, didn't, Dojo, NPR, Yorker, CNBC, Mizuho Securities

☆ 'I just wanted to take a break:' Some early-stage founders are putting their startup dreams on hold in the tech downturn to try corporate life
▼ + stars: | 2024-07-24 | by ( Ben Bergman | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewMehak Vohra has been a startup founder ever since she dropped out of college in 2016. But earlier this year, she shut down Skillbank and joined a bigger tech company as its head of marketing. That has early-stage startup founders who founded companies during the free-flowing boom cycle that ended in 2022 rethinking whether they want to be founders after all. I have a much bigger social life now, and I don't feel bad about going out."

Persons: —, you've, Ishita Arora, Arora, Jacek Prus, Prus, Sri Chandrasekar, Chandrasekar, I've Organizations: Service, Jamocha Media, Business, Instrumentl, Animal, Point72 Ventures Locations: San Francisco

☆ How Group Black's $500 million promise to Black-owned media unraveled
▼ + stars: | 2024-07-24 | by ( Lucia Moses | Lara O'Reilly | ) www.businessinsider.com time to read: +16 min

Montaque cofounded Group Black in 2021 with the goal of directing $500 million in advertising money to Black-owned media in its first 18 months. With the pledge, Group Black laid out a plan to steer money to Black media owners and acquire media companies. Bough, Group Black's chief strategy officer, was a former Mondelēz and PepsiCo marketer who presented the CNBC reality show "Cleveland Hustles." Various outlets reported that Group Black mounted bids for media companies including the Sports Illustrated publisher Arena Group, the Paramount-owned BET, Vice Media, and Vox Media. Seven former employees described Montaque as an energetic leader but said he was ultimately ineffective in executing Group Black's mission.

Persons: Travis Montaque, Weeks, Montaque, Bonin, Black, George Floyd, Breonna Taylor, Richelieu Dennis, Dennis, Ursula M, Burns, Randy Brooke, Ursula Burns, Seth Kaufman, Moët Hennessy, Gamble, Ziff Davis, offsites, Gamble —, Spokespeople, Derrick Johnson, Lionel Hahn, Todd Brown, It's, Christopher Kenna, I'm, Samantha Skey, Black's Travis Montaque, Arturo Holmes, Vivek Shah, Bough, Sheila Marmon, Media's Refinery29, Erika Goldring, Richelieu Dennis who's, Kirk McDonald, GroupM Organizations: Black, Cannes Lions, Business, Black's, SHE, Cola, Walmart, PepsiCo, CNBC, Xerox, Getty, Moët Hennessy North America, Procter, Gamble, NAACP, Urban Edge Network, Corporate America, Association of National Advertisers's Alliance, Inclusive, Multicultural, Diversity Media, Penske Media Corp, Zeta, Fox, Everyday Health, Sports, Arena Group, Paramount, BET, Vice Media, Vox Media, Galore Media, Mirror, Marmon, Media Locations: GroupM, America, Soho, Manhattan, Santa Monica, Cannes

☆ These business leaders and billionaires are backing Kamala Harris
▼ + stars: | 2024-07-24 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

The Vice President has already secured several influential political endorsements, including the support of President Joe Biden. AdvertisementSheryl SandbergFormer Meta executive Sheryl Sandberg endorsed Kamala Harris for president on social media on Monday. AdvertisementReed HastingsNetflix's Reed Hastings is supporting Harris' presidential bid with a $7 million donation. Ron ConwaySilicon Valley "super angel" investor Ron Conway has also backed Harris' presidential run. She said in an X post: "I am proud to support Vice President Harris.

Persons: —, Kamala Harris, Joe Biden, Biden, Harris, She's, Sheryl Sandberg, Sandberg, @kamalaharris, Reed Hastings, Hastings, Ron Conway, Conway, Donald Trump, @KamalaHarris, George Soros, Alex Soros Alex Soros, Melinda French, Bill Gates, Melinda French Gates Organizations: Service, Democratic, Business, Meta, Soros Fund Management, Wall Street Journal Locations: Harris

☆ Tesla and Alphabet Earnings Prompt Big Tech Stock Decline
▼ + stars: | 2024-07-24 | by ( Danielle Kaye | More About Danielle Kaye | ) www.nytimes.com time to read: +1 min

Earnings reports from Google’s parent company, Alphabet, and Tesla on Tuesday led to a drop in big tech stocks, while shares of smaller companies remained strong. The Russell 2000, an index of smaller companies that’s considered to be more tied to the ebb and flow of the economy, was down just 0.48 percent, in line with trading in recent weeks and indicating that shares of smaller companies stayed relatively robust. Investors were expecting perfection from the tech giants’ earnings reports, said Daniel Ives, a tech analyst at Wedbush Securities. “Investors are negatively reacting to any whiff of softness that we see from these big tech players,” he said. “I think it’s an overreaction after a massive run in tech stocks.”

Persons: Tesla, Russell, Daniel Ives, Ives, ”, “ Organizations: Nasdaq, Wedbush Securities

☆ At Camp Female Founders Fund in the Hamptons, women in tech and commerce toast another year of survival, deals, and Taylor Swift
▼ + stars: | 2024-07-24 | by ( Melia Russell | ) www.businessinsider.com time to read: +7 min

Anu Duggal, a founding partner of Female Founders Fund, launched the event during the pandemic to assuage some of the loneliness founders felt. AdvertisementEmily Middleton and Anu Duggal of Female Founders Fund share a laugh onstage during their opening remarks. Yumi Matsuo StudioSince its pandemic beginnings, Camp FFF has evolved into a rare and necessary sanctuary where female founders can connect and sometimes commiserate. Yumi Matsuo StudioIn the tasting room, guests set down cups of cold brew and picked up notebooks before taking their seats. Anu Duggal of Female Founders Fund traded the venture capital uniform of a Patagonia fleece vest for a flamingo-pink pantsuit.

Persons: —, Candace Bushnell, Anu Duggal, Lydia Fenet, Emily Middleton, Yumi Matsuo, Middleton, ChatGPT, Poppy Harlow, Kyle Leahy, Glossier's, Emily Weiss, Leahy, Taylor Swift, Matsuo, Arey, Allison Conrad, Melanie Goldey, Amanda E, J Morrison, Julie Products, Hayley Barna, Barna, Birchbox, Christie Horvath, Horvath, Stephanie Horton, Marina Organizations: Service, Fund, FFF, Business, Tally Health, Google Locations: Southampton , New York, Patagonia

☆ Hedge fund manager Dan Niles says it's too early to buy beaten-up mega-cap tech stocks
▼ + stars: | 2024-07-24 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +3 min

Hedge fund manager Dan Niles sees this week's tech sell-off as confirmation that the trade is in significant trouble. On July 11, Niles warned on X that earnings season could expose big risks in the megacap tech trade. He was particularly worried about the Magnificent Seven stocks, which include Tesla , Nvidia , Alphabet , Meta Platforms , Microsoft , Apple and Amazon . So, you're going to have a fall off some time next year in cap equipment that's going to be horrific because of that." Longer term, Niles thinks the bull case for megacap tech stocks is intact.

Persons: Dan Niles, Niles, CNBC's, I'm, they're, China's, there's, we're, we've Organizations: Google, Niles Investment Management, Nvidia, Microsoft, Apple, Cisco Locations: frothiness, China, Niles

Meta on Tuesday announced the latest version of its Llama artificial intelligence model. Nvidia is a key Meta partner and provides the social networking giant with the computing chips called GPUs to help train its AI models, including the latest version of Llama. For example, Meta said that Llama model announced on Tuesday was trained on 16,000 of Nvidia's H100 graphics processors. But open-source models can cost hundreds of millions or billions of dollars to create. There aren't many companies that are financially able to develop and release open-source models with similar amounts of investment.

Persons: Mark Zuckerberg, Meta, Zuckerberg, Jensen Huang, Ash Jhaveri, We're, Jhaveri, WhatsApp Organizations: Meta, Google, Nvidia, Amazon Web Services, Microsoft, CNBC Locations: Tokyo, Dell, U.S

☆ Disney slides on concerns about its theme parks. That should not be a surprise
▼ + stars: | 2024-07-23 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. The S & P 500 edged slightly higher Tuesday as investors awaited quarterly earnings releases after the close from influential tech companies. This follows CNBC-parent Comcast's quarterly earnings on Tuesday, which missed revenue estimates due to weakness in theme parks and film studios. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Danaher, that's, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Dow Jones, Google, YouTube, NFL, Walt Disney, Club, Disney

☆ A Silicon Valley executive had $400,000 stolen by cybercriminals while buying a home. Here’s her warning
▼ + stars: | 2024-07-23 | by ( Hugh Son | ) www.cnbc.com time to read: +7 min

Real estate, with its large transaction sizes and frequent use of wire transfers, has proven to be an especially lucrative target for criminals. In early July, Robillard told CNBC she had no idea whether she would ever see her money again. Courtesy: Rana RobillardRobillard says she decided to publicize her story to boost awareness of real estate wire fraud, besides being a last-ditch attempt at getting her money back. "This is not what I thought my public representation would look like, which is that I've lost all this money," Robillard said. While Martinez, California-based Compass Mortgage denies being hacked, it acknowledged that the email with wire directions wasn't from them, according to Robillard.

Persons: Rana Robillard, she'd, Robillard, HackerOne, Fraudsters, Naftali Harris, Harris, Charles Schwab, she's, —, Robillard Robillard, I've, it's, should've, Kristy Aichinger, Aichinger, Kent Donahue, Donahue didn't Organizations: JPMorgan Chase, CNBC, Citigroup, Ally Bank, San, FBI, JPMorgan, Federal Trade Commission, Consumer Financial, Bureau, Chase, FTC, OS National, Opendoor, Robillard, Compass Mortgage Advisors, Mortgage Locations: Oakland, Orinda ,, California, Orinda, San Francisco, Real, Martinez

☆ Google has admitted defeat by abandoning its plan to eliminate cookies. But the ad industry should wait before popping the Champagne.
▼ + stars: | 2024-07-23 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +7 min

Early industry testing of the Privacy Sandbox tools designed to emulate online targeting produced fairly dire results. Google won't escape regulatory scrutinyIt's unclear whether keeping cookies would allow Google to shake off regulators' grasp of its Privacy Sandbox. In 2022, Google pledged to give the UK's Competition and Markets Authority oversight of its Privacy Sandbox rollout and Chrome cookie removal. A key question now is whether Google's commitments to the CMA need to change now that third-party cookies remain in the mix. And there isn't a clear answer about the future governance of the Privacy Sandbox, to ensure Google doesn't preference its own ad products.

Persons: —, Ciaran O'Kane, Bobby Ewing, Jon Snow, they'd, Googler Organizations: Service, Business, Google, YouTube, Apple, CMA

☆ Marc Andreessen thinks comedy is basically dead. He believes AI could save it.
▼ + stars: | 2024-07-23 | by ( Jaures Yip | ) www.businessinsider.com time to read: +1 min

Marc Andreessen said AI could revive comedy. AI tools like Luma AI or OpenAI's Sora allow animators to create shows quickly. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAI is already providing us with some answers, but venture capitalist Marc Andreessen believes it may also soon be able to give us a laugh. This story is available exclusively to Business Insider subscribers.

Persons: Marc Andreessen, Sora, —, Andreessen Horowitz, Chris Best, It's Organizations: Studios, Pixar, Service, Business

☆ Nasdaq futures fall after Alphabet, Tesla report earnings: Live updates
▼ + stars: | 2024-07-23 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on July 22, 2024. Nasdaq stock futures traded lower Tuesday night after megacap tech companies Alphabet and Tesla reported their second-quarter results. Futures tied to the tech-heavy Nasdaq 100 moved down 0.5%, while S&P 500 futures fell 0.4%. Shares of Google parent company Alphabet fell 1.7% in extending trading. Although Alphabet reported a top and bottom line beat, Youtube advertising revenue fell below the consensus estimate.

Persons: Tesla, Dan Greenhaus, Greenhaus, I've Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Google, Dow, Investors, Federal Reserve, Asset Management, Dynamics, Boston Locations: New York City

☆ Barclays raises S&P 500 target to 5,600, sees strong tech earnings ahead
▼ + stars: | 2024-07-23 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Strategist Venu Krishna raised his 2024 S & P 500 target to 5,600 from 5,300. The S & P 500 has already rallied more than 16% year to date, reaching record levels and blowing past many Wall Street estimates. Investors have piled into tech stocks this year amid expectations that artificial intelligence would bolster corporate profits. The S & P 500 tech sector is up 29% in 2024, with AI-related stocks Nvidia and Super Micro Computer more than doubling. Barclays also set its 2025 S & P 500 target at 6,500.

Persons: Venu Krishna, Krishna Organizations: Barclays, CNBC Pro Market, Survey, Big Tech, Nvidia Locations: Monday's

☆ Advertisers using Google to boost consumer demand, says Wealth Enhancement Group's Ayako Yoshioka
▼ + stars: | 2024-07-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAdvertisers using Google to boost consumer demand, says Wealth Enhancement Group's Ayako YoshiokaWealth Enhancement's Ayako Yoshioka and Big Tech's Alex Kantrowitz join 'Closing Bell' to discuss the what they are expecting from Alphabet's second quarter earnings report as the tech company is set to report after the bell.

Persons: Alex Kantrowitz Organizations: Google

☆ Events startup Posh just raised $22 million as the IRL space heats up. Read the 12-page pitch deck it used.
▼ + stars: | 2024-07-23 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +4 min

Read previewLike many tech startups, Posh, an events marketplace platform, was born in a college dorm room. "We pivoted from an event company into a software company," as a result, CEO Price told Business Insider. Last month, the app had over 5,000 events listed on the app, Price said. Advertisement"A big thesis of ours is actually that we can create a new revenue stream for creators by congregating their top 1% of fans IRL," Price added. AdvertisementRead the 12-page pitch deck Posh used to raise its $22 million Series A:Note: The company updated and redacted some figures in the deck.

Persons: —, Eli Taylor, Avante Price, Posh, Price, Sam Altman, " Altman, Logan Bartlett, Ariana Nathani Organizations: Service, New York University, Business, Goodwater Locations: Miami, New York

☆ Stock market today: Stocks trade mixed as investors get ready for Tesla and Alphabet earnings
▼ + stars: | 2024-07-23 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Stock were mixed early Tuesday as investors awaited earnings from big companies. Markets are getting ready to pick through results from Tesla and Alphabet after the closing bell. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS stock moves were muted on Tuesday, with investors getting ready to go over earnings results from Tesla and Google parent Alphabet after the closing bell. Tesla and Alphabet are the first of the Magnificent Seven tech cohort to post second-quarter results.

Persons: —, Russell, Bill Adams, Adams Organizations: Service, Tesla, Google, Nasdaq, Federal

☆ Here are Monday's biggest analyst calls: Apple, Nvidia, Amazon, Burlington, CrowdStrike, Berkshire Hathaway, Coinbase & more
▼ + stars: | 2024-07-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Goldman Sachs initiates Talos Energy as buy Goldman said the energy company has a "strong oil mix and free cash flow." Goldman Sachs downgrades Lennar to neutral from buy Goldman downgraded the homebuilder stock mainly on valuation. Goldman Sachs initiates Webtoon as buy Goldman said it's bullish on shares of the digital storytelling company. TD Cowen initiates Berkshire Hathaway as hold TD Cowen said it likes the stock but valuation is full right now. " "We upgrade CHRW to Buy from Underperform and raise our PO to $99 from $76, on 22.5x our 2025e EPS."

Persons: Wells, Piper Sandler, Piper, Goldman Sachs, Goldman, Guggenheim, CrowdStrike, Lennar, it's, TD Cowen, Berkshire Hathaway, Raymond James downgrades Estee Lauder, Raymond James, Fitch, JMP, it's bullish, Jefferies, Baird, Henry Schein, Bernstein, Stifel, BURL, Morgan Stanley, Robinson, Oppenheimer, Coinbase's Organizations: Apple, Nvidia, Energy, Talos Energy, Guggenheim, Webtoon Entertainment, Inc, JPMorgan, Abercrombie, Citi, Tamboran Resources, Resources, Nvidia Citi, Amazon, ramping, Airlines, AAL, opp, Jefferies, Genomics, Micron Citi, MU, Samsung, " Bank of America, Underperform Locations: Berkshire, China, U.S, Wells Fargo, Burlington, 3Q24

☆ Stocks making the biggest moves midday: Ryanair, CrowdStrike, IQVIA Holdings and more
▼ + stars: | 2024-07-22 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Ryanair — Shares fell 16% after the budget airline reported weaker-than-expected fiscal first-quarter earnings . CrowdStrike — The cybersecurity stock plunged 12% as investors fully digested Friday's massive outage , which resulted in thousands of canceled flights. IQVIA Holdings — The stock jumped more than 6% after the health tech company's earnings beat expectations for the second quarter. In the second quarter, the company reported sales of $32.8 billion, below the $33.05 billion FactSet consensus estimate. Mattel — Shares of the toymaker soared more than 11%.

Persons: CrowdStrike, FactSet, Tesla, Elon Musk, LPR, Xpeng, Catterton, —, Alex Harring, Hakyung Kim, Lisa Kailai Han, Darla Mercado Organizations: Ryanair —, Guggenheim, Holdings, Nvidia —, Reuters, Blackwell, Verizon —, —, EV, People's Bank of, Li Auto, Mattel —, Mattel, Semiconductor, — Investors, VanEck Semiconductor, KLA Corporation, ASML Locations: CrowdStrike, People's Bank of China, chipmakers

☆ Stock market today: US stocks rise as traders try to come back after worst week since April
▼ + stars: | 2024-07-22 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Investors are gauging what a potential Kamala Harris presidency could mean for the stock market. Second-quarter GDP and the June PCE index will be released later this week. The gains came one day after President Joe Biden announced he would not seek re-election, and instead endorsed his Vice President, Kamala Harris. That will be followed by the Federal Reserve's preferred inflation gauge, the PCE index, at 8:30 a.m. on Friday. Economists expect the June Core PCE index to rise 2.5% year over year, which is not far off from the Fed's long-term inflation target of 2%.

Persons: Kamala Harris, —, Joe Biden, Harris, Donald Trump, Trump's, JD Vance, Alex Saunders Organizations: Service, Technology, Nasdaq, Trump, Citi, Federal, Here's Locations: California

☆ The S&P 500 is up 16% on the year and may continue to rise—but avoid this 1 investing move
▼ + stars: | 2024-07-22 | by ( Ryan Ermey | ) www.cnbc.com time to read: +3 min

None of that sounds like it should bode very well for stocks, but the S&P 500, a measure of the broad U.S. stock market, has returned about 16% so far in 2024. This has been even the bull's dream of a year," says Ryan Detrick, chief market strategist at the Carson Group. Indeed, the likes of Microsoft, Nvidia, Amazon.com and Alphabet have all enjoyed returns over the past year that have vastly outgained the broad market. All 11 S&P 500 sectors sport positive returns year-to-date, with six featuring double-digit returns. That could "loosen up the gears" in what has been a stubborn housing market and should encourage business investment — both good signs for the broader market, he says.

Persons: bode, Ryan Detrick, You've, Christopher R, Jackson, you've, Detrick Organizations: Federal Reserve, Carson Group, Microsoft, Nvidia, UBS Wealth Management Locations: U.S

☆ Leaving India and working in tech in the US changed me. I feel too foreign here and too foreign there.
▼ + stars: | 2024-07-22 | by ( Robin Madell | ) www.businessinsider.com time to read: +8 min

It was because I knew that working in Big Tech in Silicon Valley would change me into a different person and I'd never move back. It's been 11 years since then, and I think I've gotten happier with my life here now that I've worked at a few different jobs in Big Tech. But despite this, working in the US suits me better than working in India because of my individualistic mindset. Some people back home think very competitively — they've hinted that they think I'm just plain lucky, and if they had the opportunity, they'd do it too and much better. Even if I had all the resources to go back to India, it'd be different — I've grown apart from who I was.

Persons: Uday Padyana, I'd, It's, I've, India I've, I'm, it's, they've, there's, —, haven't, would've, India I'm, could've, it'd, Jeff Bezos's, Jane Zhang Organizations: Service, Big Tech, Big, Business, PayPal, Uber Locations: Silicon Valley, India, Big Tech, Silicon, Atlanta, Washington , DC, American, janezhang@businessinsider.com

☆ Investors are about to find out if the mega-cap tech rally is over
▼ + stars: | 2024-07-22 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Mega-cap tech stocks have a lot to prove with upcoming second-quarter earnings results. The long-term outperformance of mega-cap tech relative to small-cap stocks is being tested by slowing revenue growth. AdvertisementThe mega-cap tech rally hit a wall in recent weeks as investors turned their attention to small-cap stocks in a historic way. That's in stark contrast to the dominance of mega-cap tech stocks relative to small-cap stocks over the past one-, three-, five-, and ten-years. Investors will get their first taste of mega-cap tech earnings on Tuesday, with Tesla and Alphabet set to release their second-quarter results after the market close.

Persons: Goldman Sachs, —, Russell, David Kostin, Kostin, That's Organizations: Service, Vanguard, Growth, Tech, Investors, Microsoft, Apple, Amazon, Nvidia, Big Tech, Trump

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