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☆ Jeff Bezos is cashing out billions in Amazon shares — again
▼ + stars: | 2024-07-03 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Jeff Bezos filed a plan to sell 25 million Amazon shares worth nearly $5 billion on Tuesday. Bezos' move follows Amazon stock hitting a record of $200.43 and a $2 trillion market cap last week. Bezos, the world's second-richest person, still holds over 900 million Amazon shares. AdvertisementJeff Bezos is cashing out some of his Amazon shares as the stock hit an all-time high this week. The Amazon cofounder filed a notice with the SEC to sell 25 million Amazon shares worth close to $5 billion on Tuesday.

Persons: Jeff Bezos, Bezos, — Organizations: Service, Amazon, SEC, Business

☆ Romance scams cost consumers $1.14 billion last year. It's a 'more insidious' fraud, expert says
▼ + stars: | 2024-07-03 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

Cybercriminals are targeting wealth accounts by tapping into a victim's emotions. Consumers lost $1.14 billion to romance scams in 2023, according to the Federal Trade Commission. Median losses per person amounted to $2,000, the highest reported losses for any form of imposter scam, the FTC found. "Romance scams tend to be some of the more insidious because they prey on emotions," Kitten said. "They know the different emotional trigger points that we all have, and that's when they strike," Payton added.

Persons: Tracy Kitten, Kitten, Taylor, Theresa Payton, Payton Organizations: Strategy, Research, Consumers, Federal Trade Commission, FTC, Netflix, Finance, White House, Fortalice Solutions

☆ U.S. Awards $504 Million for ‘Tech Hubs’ in Overlooked Regions
▼ + stars: | 2024-07-02 | by ( Madeleine Ngo | Ana Swanson | ) www.nytimes.com time to read: +1 min

The Biden administration awarded $504 million on Tuesday to a dozen projects across the country in a bid to transform communities that had been overlooked in the past into technological powerhouses. The grants will fund “tech hubs” that aim to bolster the production of critical technologies in regions including western Montana, central Indiana, South Florida and upstate New York. The hubs are meant to accelerate the growth of advanced industries in the United States, such as biomanufacturing, clean energy, artificial intelligence and personalized medicine. Proponents say the projects will help create “good-paying” jobs and tap into underutilized pools of workers and resources across the country. The idea of spreading technology funding beyond Silicon Valley helped the legislation win broader support from lawmakers representing parts of the country that were eager to benefit.

Organizations: Biden Locations: Montana, Indiana, South Florida, New York, United States, Silicon Valley

☆ This company sends rejection feedback emails to every job applicant. It's made a big difference.
▼ + stars: | 2024-07-02 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Peter Berg, founder of Forward, a consulting firm that hires globally remote engineers for startups, wants to change that. About a month ago, Berg announced that Forward would provide data and context to every applicant once a role is closed. Berg told Business Insider that Forward does its best not to waste people's time during the application or interview process through lengthy exams or assignments. One woman posted on LinkedIn about the experience and said Forward offered her the "BEST" rejection letter. Melissa Bashur told BI that the insight she received allowed her to better understand the current job market.

Persons: —, Peter Berg, Berg, it's, Melissa Bashur, Bashur, they're Organizations: Service, Business, LinkedIn

Japan's two largest commercial airlines are toughening their stances against travelers who verbally or physically abuse airline staff. Japan Airlines and All Nippon Airways updated their websites Friday with "customer harassment" policies, in the wake of rising instances of front-line worker abuse occurring across industries in Japan. "This has placed a significant burden on our employees, leading to cases where some have been forced to take leave," she said. Japan Airlines' policy also mandates airline staff to undergo harassment training — employees will be provided manuals detailing how to quickly and appropriately respond to "malicious" behavior. Both airlines' policies state that travelers who harass employers will be issued a warning, after which consequences can include denial of boarding and police involvement.

Persons: ANA's Yoshiko Miyashita Organizations: Japan Airlines, All Nippon Airways, CS, Nikkei Asia Locations: Japan

Klaus Vedfelt | Digitalvision | Getty ImagesAlthough the unemployment rate has spent 30 months at or below below 4% — a near record — not everyone who wants a job has one. Others, alternatively, are well-qualified but often younger candidates who are struggling to find positions, comprising a contingent of "new unemployables," according to a recent report by Korn Ferry. 'NEETS' feel 'left out and left behind'Still, some young adults in the U.S. are neither working nor learning new skills. In 2023, about 11.2% of young adults ages 15 to 24 in the U.S. were considered as NEETs, according to the International Labour Organization. In other words, roughly one in 10 young people are "being left out and left behind in many ways," Bustamante said.

Persons: Klaus Vedfelt, Korn, Alí Bustamante, Bustamante, that's, Biden's, Julia Pollak, Pollak, David Ellis, Korn Ferry Organizations: Digitalvision, Worker Power, Economic Security, Roosevelt Institute, U.S . Bureau of Labor Statistics, International Labour Organization, Finance, Here's, Trump, Employers, National Association of Colleges Locations: New York City, U.S

☆ Elon Musk gives a hint at just how much his AI chatbot cost to develop
▼ + stars: | 2024-07-01 | by ( Ana Altchek | ) www.businessinsider.com time to read: +3 min

Read previewElon Musk just hinted at how much it cost to make his AI chatbot Grok. Knowing how many H100 GPUs Musk is getting allows us to do some napkin math to figure out a rough estimate of the cost. Mark Zuckerberg said in January that Meta will have purchased about 350,000 Nvidia H100 GPUs by the end of 2024. Aravind Srinivas, founder and CEO of AI startup Perplexity, talked about getting turned down by a Meta AI researcher he was trying to poach in part because of Zuckerberg's huge collection of AI chips. 'Come back to me when you have 10,000 H100 GPUs,'" Srinivas said.

Persons: —, Elon, chatbot, Hopper, Musk, Nicolai Tangen, xAI, Mark Zuckerberg, Meta, Aravind Srinivas, Srinivas Organizations: Service, Business, Nvidia, Twitter, Meta Locations: Silicon Valley

We Counted 22,252 Cars to See How Much Congestion Pricing Might Have Made This MorningToday would have been the first Monday of New York City’s congestion pricing plan. We sent 27 people to count vehicles manually at four bridges, four tunnels and nine streets where cars entered the business district. In total, we counted 22,252 cars, trucks, motorcycles and buses between 8 a.m. and 9 a.m. on Monday. But it does give you a rough sense of scale: It’s a lot of cars, and a lot of money. had planned to use the congestion pricing revenue estimates to secure $15 billion in financing for subway upgrades.

Persons: Kathy Hochul, Noah Throop, Ruru Kuo, It’s, Franklin Organizations: Gov, New York Times, Metropolitan Transportation Authority, Tunnel, Manhattan Bridge, Brooklyn Bridge, manhattan, Williamsburg Bridge, Battery Locations: York, Lexington, St, Queens, Midtown, Tunnel manhattan, Holland, Manhattan, Brooklyn, Brooklyn Bridge Brooklyn, Williamsburg

☆ Ex-Moelis Banker arrested on assault charges after viral punching video
▼ + stars: | 2024-07-01 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Jonathan Kaye was arrested on assault charges after a video of him punching a woman went viral. Banker Kaye resigned from Moelis last week after it said it was conducting an investigation. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA senior banker who resigned from Moelis last week after a viral video showed him punching a woman was arrested on assault charges Monday morning. This story is available exclusively to Business Insider subscribers.

Persons: Jonathan Kaye, Kaye, Banker Kaye, —, Perry Organizations: Moelis, Service, New York Police Department, Brooklyn District, Business

☆ Is it true that AI won't take your job — but someone who knows AI will?
▼ + stars: | 2024-06-30 | by ( Ana Altchek | ) www.businessinsider.com time to read: +6 min

Read previewYou may have heard a version of the phrase, "AI won't take your job, it's somebody using AI that will take your job." Should you be more worried about losing your job to a human using AI or to the AI itself? He said software engineers who didn't experiment with AI tools usually didn't get the job. He asks all new hires what AI tools they use. "I think that the same is true of some of these basic, AI tools," he added.

Persons: —, Richard Baldwin, Baldwin, it's, Jasmine Escalera, LiveCareer, Matt Betts, Morgan Stanley, Klarna, Mira Murati, Carl Benedikt Frey, Goldman Sachs, Escalera, Steve Kaufer, Logan Bartlett, Kaufer, Miller Organizations: Service, Growth, Business, Bain & Company, RHR, MIT, Stanford, IBM, Oxford University, Empire Entertainment

“I knew I wanted to have my own business,” Mrs. Monrroy said on a recent weekday afternoon on Hollywood Boulevard, where her childhood wish has come true. “Mango, water, soda, Gatorade, hot dog!” she calls out to the crowds traipsing over Hollywood Walk of Fame stars dedicated to Bruce Willis and Billy Crystal. In Los Angeles alone, an estimated 10,000 street vendors sell food. Until recently, vendors along Hollywood Boulevard were operating outside the law. And while longtime street vendors respect and recognize the turf of other regulars, there are more sellers working in the area, and competition has increased.

Persons: Kurtis Lee, Ruth Monrroy, “, ”, Monrroy, Bruce Willis, Billy Crystal, —, carne asada tacos Organizations: Gatorade, Hollywood Locations: Guatemala, California, Fresno, Oakland, Los Angeles, Hollywood

☆ Opinion: The real loser in the first presidential debate
▼ + stars: | 2024-06-28 | by ( Opinion Cnn Contributors | ) edition.cnn.com time to read: +28 min

CNN —CNN Opinion asked political contributors to weigh in on the first presidential debate of the 2024 race. On the other hand, President Joe Biden did not meet expectations and may have increased concerns about his age and ability to lead for another four years. Debates are always more about style than substance, and President Joe Biden’s style was simply awful. Did President Joe Biden come off as a leader or a loser? And yes, the visuals in this first presidential debate of the cycle were phenomenally important.

Persons: Ana Marie Cox, Joe Biden’s, Donald Trump, Biden, Ana Marie Cox Faith Fonseca, Trump, mumbling, I’m, Shermichael Singleton, Joe Biden, Paul Begala, ” “, ” Paul Begala, meandered, —, Republicans — Biden, Bill Clinton’s, Clinton, Jeff Yang, Jeff Yang CNN, — Biden, Joe, Bruce, ”, “, ” Patrick T, Brown, Biden’s, Dobbs, Roe, Wade, Patrick T, CNN’s Dana Bash, David Mark, there’s, Kamala Harris, Harris, Nikki Haley, ” Geoff Duncan, Geoff Duncan Alex Slitz, Geoff Duncan, Peter Bergen, Abu Bakr al, General Qassem Soleimani, It’s, ” Susanne Ramirez de Arellano, Susanne Ramirez de Arellano Frank Moya, Biden “, ” Trump, Susanne Ramirez de Arellano, Roxanne Jones, Democrats — Biden, Nobody, Jones, Lanhee J, Chen, Chen Lanhee J . Chen, David, Diane Steffy, Romney, Ryan Organizations: CNN, Democratic Party, Biden, Trump, “, Global, Democrats, ” Paul Begala CNN, Republicans, Democratic, sonics, Public Policy Center, Economic, Republican, South Carolina Gov, Democratic National Convention, Washington, Peter Bergen CNN, US Border Patrol, ISIS, Islamic, Guards, Force, Walmart, New America, Capitol, New, Arizona State University, Social Security, Medicare, UCLA, Politics Initiative, America, Tonight, Univision Puerto Rico, ESPN, New York Daily News, Philadelphia Inquirer, Public Policy, Hoover Institution Locations: Texas, Austin, America, Asian America, Washington , DC, bravura State, Canada, Abu, Uzbek, Manhattan, El Paso , Texas, New America, United States

☆ Selling a home is expensive, too: Homeowners typically spend nearly $55,000, report finds
▼ + stars: | 2024-06-27 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +6 min

It typically costs $54,616 to sell a house in 2024, according to a June 17 report from Clever Real Estate. In May, Clever Real Estate polled 1,014 Americans who sold a home between 2022 and 2024 about their attitudes related to the home-selling process. "Ultimately, [with] many of these fees, there's no harm in trying to negotiate, and that includes real estate commissions," Hamrick said. But the highest expenses an owner will face when selling a home are the real estate agent commission fees, Ahmed said. Sell without a real estate agent: Homeowners could try to sell the house themselves and potentially drop real estate services altogether, said Dunaway-Seale.

Persons: Jaime Dunaway, Seale, they're, that's, Dunaway, Mark Hamrick, Hamrick, Kashif, Ahmed, Daryl Fairweather, Orphe, Sellers, brokerages, Claudia Cobreiro, Cobreiro Organizations: Finance, Wealth, Redfin, CNBC, U.S, The National Association of Realtors, Cobreiro, MLS, Realtors, Homeowners Locations: Bedford , Massachusetts, Coral Gables , Florida, Miami

☆ CEOs from Mark Zuckerberg to Sundar Pichai explain why companies are making cuts this year
▼ + stars: | 2024-06-27 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

A number of Big Tech companies have laid off staff this year, including Google, Tesla, Apple, and dozens more. Ironically, companies haven't been slowing down on innovation, with many releasing a constant stream of AI updates and product launches. Mark Zuckerberg shared his theory on the first round of industry-wide layoffs in an interview with "Morning Brew Daily" in February. AdvertisementSalesforce CEO and cofounder Mark Benioff also relayed the same sentiment in a letter to employees announcing layoffs in 2023. But for the moment, tech companies don't seem to be slowing down on AI advancement.

Persons: —, Mark Zuckerberg, Jason Citron, Sundar Pichai, Mark Benioff, Zuckerberg, Emily Chang, Wayfair's cofounders, Niraj Shah, Steve Conine, Jobs, Satya Nadella, Arvind Krishna, Drew Houston Organizations: Service, Big Tech, Google, Apple, Business, Bloomberg, ARM, IBM, Dropbox Locations: Zuckerberg's

☆ A Tesla driver says he crashed his brand new Cybertruck after the brakes stopped working
▼ + stars: | 2024-06-27 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Read previewA Tesla owner said he crashed his new Cybertruck into a neighbor's yard within the first few hours of driving it — and he said it's because the vehicle's brakes didn't work. The owner, Bruce Freshwater, told BI that the crash happened on April 27 after he picked up the Cybertruck. That car then ran into a second vehicle, Freshwater told the police in the report, which BI has viewed. AdvertisementFreshwater's Cybertruck, along with one of the neighbor's vehicles, sustained "disabling damage," according to the police report. Freshwater told BI that he still makes car payments every month on a vehicle he isn't using.

Persons: —, Bruce Freshwater, Freshwater, Freshwater's, Freshwater Freshwater, Tesla, he's, Cybertrucks, I'm Organizations: Service, Business, Police Department, BI, Tesla, National, Traffic Safety Administration, NHTSA Locations: Fayette, Pennsylvania

☆ Trump Eyes Bigger Trade War in Second Term
▼ + stars: | 2024-06-27 | by ( Ana Swanson | Alan Rappeport | ) www.nytimes.com time to read: +1 min

They hit back, imposing tariffs on American soybeans, whiskey, orange juice and motorcycles. U.S. agricultural exports plummeted, prompting Mr. Trump to send $23 billion to farmers to help offset losses. Now, as he runs for president again, Mr. Trump is promising to ratchet up his trade war to a much greater degree. He has proposed “universal baseline tariffs on most foreign products,” including higher levies on certain countries that devalue their currency. Mr. Trump, who once proclaimed himself “Tariff Man,” has long argued that tariffs would boost American factories, end the gap between what America imported and what it exported and increase American jobs.

Persons: Donald J, Trump, ” Organizations: ”, European, America Locations: China, Canada, European Union, Mexico, India

☆ Debate Fact Check: Biden and Trump on the Economy, Immigration and Foreign Policy
▼ + stars: | 2024-06-27 | by ( Ana Swanson | The New York Times | ) www.nytimes.com time to read: +1 min

— Former President Donald J. TrumpMr. Trump is distorting what Representative Nancy Pelosi, then the House speaker, said. Ms. Pelosi did not admit to turning down National Guard troops. We have responsibility, Terry, we didn’t have accountability for what was going on there.”When the person Ms. Pelosi was addressing responded, “they thought they had sufficient resources,” Ms. Pelosi cut her off. “It’s not a question of sufficient,” the speaker said, “they don’t know. claims” of Ms. Pelosi being at fault.

Persons: —, Donald J, Trump, Nancy Pelosi, Ms, Pelosi, Alexandra Pelosi, Pelosi’s, “, Terry, “ It’s Organizations: Trump Mr, National Guard, Republican, Capitol Police, Politico

☆ The 'worst moment' of Sam Altman's OpenAI ousting happened just before midnight, Airbnb CEO said
▼ + stars: | 2024-06-27 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Airbnb CEO Brian Chesky said the "worst moment" of Sam Altman's ousting happened around midnight. Chesky said Altman expected to get reinstated but OpenAI then announced Emmett Shear as CEO. Altman planned to go to Microsoft but Chesky said his friendship with Shear helped open a dialogue. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But the hardest moment happened at midnight about two days in, according to an interview with Airbnb CEO Brian Chesky on CNBC.

Persons: Brian Chesky, Sam Altman's, Chesky, Altman, OpenAI, Emmett Shear, Shear, —, Sam Altman Organizations: Microsoft, Service, CNBC, Business Locations: OpenAI

☆ Despite high demand, kidneys donated by Black Americans are more likely to be thrown away. Here’s why
▼ + stars: | 2024-06-26 | by ( Ana S. Iltis | ) edition.cnn.com time to read: +6 min

Making matters worse, kidneys from Black donors in the U.S. are more likely to be thrown away as a result of a flawed system that erroneously considers all Black donor kidneys as more likely to stop working after a transplant than kidneys from donors of other races. Research on previous transplants shows that some kidneys donated by Black people are more likely to stop working sooner after transplantation than kidneys donated by people from other races. This could explain the data on Black donor kidney failure rate. And since Black kidney recipients are more likely to receive kidneys from Black donors, this approach could perpetuate transplant disparities. One way researchers are working to identify higher risk kidneys is using the APOLLO study, which assesses the impact of key variants on donated kidneys.

Organizations: CNN, Black, American, Research, Americans Locations: U.S, Africa, West, Saharan Africa

☆ It looks like Nvidia failed to soothe skittish investors
▼ + stars: | 2024-06-26 | by ( Ana Altchek | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. Huang also failed to mention during the meeting when exactly the company's next-generation AI chip, Blackwell will become available, although he said it would be "the most successful product" in Nvidia's history. Nvidia serves over five million developers and 40,000 companies, including thousands of AI companies. Nvidia declined a request for comment from Business Insider.

Persons: —, it's, Jensen Huang didn't, Sam Altman, Elon Musk, Huang, Blackwell Organizations: Service, Microsoft, Business, Google, Nvidia

☆ Brazil Becomes the Largest Nation to Decriminalize Marijuana
▼ + stars: | 2024-06-26 | by ( Jack Nicas | Ana Ionova | ) www.nytimes.com time to read: 1 min

Brazil decriminalized marijuana for personal use on Wednesday, making the nation of 203 million the largest to take such a measure and the latest sign of a growing global acceptance of the drug. The court asked Brazil’s Congress and health authorities to then set the permanent amount of marijuana that citizens could possess. Selling marijuana remains a criminal offense. Thousands of Brazilians are serving prison sentences for possessing an amount of marijuana below the new threshold, legal analysts said. It is unclear how the decision would affect those convictions.

Organizations: Brazil’s Locations: Brazil

☆ 'TikTok Star Murders' features audio footage Ali Abulaban filmed as he killed his wife. Here's what happened to him.
▼ + stars: | 2024-06-26 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +4 min

Read previewPeacock's "TikTok Star Murders" tells the story of content creator Ali Abulaban murdering his wife, Ana Abulaban, and her friend Rayburn Barron, one month after she accused her husband of domestic abuse. Ana Abulaban, who was 28 at the time, went to the authorities in September 2021 and accused her husband of domestic abuse, The Los Angeles Times reported. "TikTok Star Murders" features the audio Ali Abulaban captured as he murdered his wife. Several gunshots can be heard as well as Barron and Ana Abulaban shouting. Fischer told Variety that Ali Abulaban was offered the chance to appear in the documentary but, "respectfully declined based on his impending trial."

Persons: —, Ali Abulaban, Ana Abulaban, Rayburn Barron, Ana Abulaban's, Ali Abulaban's, cuddling, Barron, Ana, Elizabeth Fischer, Abulaban, Fischer, Variety Organizations: Service, Business, Los Angeles Times, San Diego Superior Court, Variety, Unit Films Locations: San Diego, San Diego's East, Shreveport, Louisana

☆ Congestion Pricing Delay Will Stop Billions in Subway Upgrades
▼ + stars: | 2024-06-26 | by ( Ana Ley | More About Ana Ley | ) www.nytimes.com time to read: +1 min

Transit leaders in New York City are preparing to scale back billions of dollars’ worth of upgrades to the nation’s largest transit network after Gov. Kathy Hochul halted a tolling program that would have paid for improvements and repairs. Gone were plans to make subway stations more accessible to riders with disabilities, repairs to some nearly century-old infrastructure and the expansion of the Second Avenue subway line, among other now-deferred projects. The board has yet to officially revise its capital plans but did pass a resolution on Wednesday to remain prepared to put the congestion pricing program into effect once it gets the green light from Albany. Governor Hochul has not indicated when that might be.

Persons: Kathy Hochul, Hochul Organizations: Gov, Metropolitan Transportation Authority Locations: New York City, Albany

☆ The typical new home in the U.S. is shrinking. Here's what that means for buyers
▼ + stars: | 2024-06-25 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

Homebuyers are expressing a desire for smaller homes, whether as a compromise given high prices or because they simply want a smaller space, experts say. The typical buyer today wants a 2,067-square-foot home, according to the NAHB's 2024 What Home Buyers Really Want study. "They may not need 2,000 square feet or even want that for themselves," she said. About 28% of polled buyers recently purchased a home between the sizes of 1,501 to 2,000 square feet; while 26%, purchased a home between 2,001 to 2,500 square feet, according to the NAR's 2024 Home Buyers and Sellers Generational Trends Report. How zoning influences home sizesAbout 38% of builders say they built smaller homes in 2023 and 26% plan to build even smaller homes this year, according to NAHB.

Persons: Robert Dietz, Jessica Lautz, Dietz, NAHB Organizations: NAHB, National Association of Realtors Locations: Thana, U.S

☆ A 'fancy coffee' offer to a friend helped her get a temp job at Facebook — where she worked up to VP
▼ + stars: | 2024-06-25 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Read previewBefore Ami Vora became a Meta VP, she worked as a temporary employee in Facebook's PR department and slept on couches. Vora spoke about how she got her first job at Facebook on an episode of "Lenny's Podcast" published Sunday. The ex-Meta exec ended up becoming VP of product at Facebook, and VP of product and design at WhatsApp. "This wasn't exactly what I'd been hoping for," Vora wrote in her post. Vora would later become a director at Instagram, VP of product at Facebook, and VP of product and design at Whatsapp, according to her LinkedIn.

Persons: —, Ami Vora, Vora, couldn't, I'm Ami, I'd Organizations: Service, Facebook, Meta, Business, Microsoft, Lean Locations: Silicon Valley, New York, Palo, San Francisco, California, Whatsapp

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