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☆ Lyft just upped the ante in its battle against Uber by taking aim at surge pricing
▼ + stars: | 2024-08-08 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Lyft calls surge pricing "Primetime," and CEO David Risher admitted on an earnings call on Wednesday that it has a bad reputation among customers. While surge pricing isn't ending, Risher said Price Lock "can chip away at how often it occurs" and give riders "a reason to choose Lyft." Related storiesAn Uber spokesperson did not immediately respond to Business Insider's request for comment on Price Lock. Rideshare apps like Uber and Lyft are some of the most visible examples of what the retail industry calls "dynamic pricing." AdvertisementBut surge pricing has since become a common part of using rideshare services.

Persons: —, Uber, David Risher, Risher, Price, They're, Dara Khosrowshahi Organizations: Service, Business, Companies, Walmart, Reuters

☆ A 68-year-old cofounded a biotech business instead of retiring. He's not getting paid for his work but values staying 'mentally engaged.'
▼ + stars: | 2024-08-08 | by ( John Towfighi | ) www.businessinsider.com time to read: +5 min

Two years ago, when he was 68, that opportunity arose: McCaman cofounded Orion Therapeutics, a small company developing new ways for RNA medicine to reach specific areas of the human body. AdvertisementMcCaman, now 70, is the vice president and chief strategy officer at Orion Therapeutics. McCaman is passionate about staying engaged with his interests and said remote work has enabled him to extend his career. McCaman and Fischer launched Orion with Deidra Mountain, a University of Tennessee professor, and Jennifer Zachry, a graduate student. Are you a baby boomer who founded a small business?

Persons: —, Michael McCaman, McCaman, It's, Davis, Intellia, Trey Fischer, Fischer, Jennifer Zachry, there's, John Deere Organizations: Service, Orion Therapeutics, Business, University of California San, University of California, Intellia Therapeutics, University of Tennessee, Orion, University of Tennessee Research Foundation, Launch Locations: Frederick , Maryland, Knoxville , Tennessee, University of California San Diego, California, Lonza, Maryland, Launch Tennessee

☆ Lyft is pulling back on 'rideshare's most hated feature.' But it's the way of the future for many big companies.
▼ + stars: | 2024-08-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Read previewPeople hate surge pricing — and Lyft says it hears them. The feature would compete with Uber by giving customers some certainty ahead of time as to how much they'll pay for a ride; Risher said surge pricing is "probably rideshare's most hated feature." Economists have told Business Insider that as algorithms get better and more retails adopt easily-changed digital price tags, customers could start seeing it in even more places. Elizabeth Warren and Bob Casey also launched an investigation into Kroger's price tags over their potential to surge prices. But when looking at technological innovations at other big companies to make it easier to change prices, stable pricing likely won't come anytime soon.

Persons: —, Lyft, David Risher, Price, Risher, Elizabeth Pancotti, Democratic Sens, Elizabeth Warren, Bob Casey, it'll Organizations: Service, Business, Uber, Walmart, Kroger, Roosevelt Institute, Democratic, Cincinnati Enquirer

☆ A Gen Xer shares why going back to college after dropping out was the best decision he ever made
▼ + stars: | 2024-08-08 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Read previewDavid Houde feels like he's made it — and he thinks it wouldn't have been possible without his college degree. By 2006, he'd earned an associate degree in computer information systems and a bachelor's degree in computer science. A college degree helped him eventually land a high salaryWhen he first enrolled in college, Houde didn't have any idea what he would major in. In 2016, about a decade after he graduated with his bachelor's degree, he decided to pursue an MBA. Have you found financial success without a college degree?

Persons: —, David Houde, he's, it's, Houde, he'd, wasn't, I'm, hasn't Organizations: Service, Business, Pew Research Locations: Michigan, eureka

☆ Americans are still having a lot of stuff delivered from DoorDash and Uber, and it shows how much we'll pay for convenience
▼ + stars: | 2024-08-07 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Later in the day, Instacart reported a 10% jump in the value of transactions on its platform during the second quarter. Total orders rose 19% during the company's second quarter, it said on August 1. "Increasingly, we're seeing customers coming to us for the first time actually for non-restaurant use cases," Xu said. AdvertisementCorrection: August 9, 2024 — An earlier version of this story misstated Instacart's average order value in the second quarter. Do you work for DoorDash, Instacart, Uber Eats, or another gig delivery service and have a story to share?

Persons: —, they're, Uber, Dara Khosrowshahi, Instacart, Fidji Simo, Robert Mollins, Gordon, Mollins, DoorDash, We're, Tony Xu, Xu, Uber's Khosrowshahi, Instacart's Simo Organizations: Service, Business, DoorDash

☆ Consumers reported losing $210 million to scams across payment apps last year. A new bill wants to help future victims get their money back.
▼ + stars: | 2024-08-07 | by ( John Towfighi | ) www.businessinsider.com time to read: +6 min

Consumers and small businesses sent $806 billion across 2.9 billion Zelle transactions in 2023, both up 28% from 2022. Consumers reported losing $210 million to scams across all payment apps in 2023, according to data from the Federal Trade Commission. The new bill aims to amend the law to make banks more liable for all financial transactions, whether they're authorized or unauthorized. AdvertisementOver 99.95% of all Zelle transactions in 2023 were completed without instances of fraud, according to Zelle. In the meantime, the Protecting Consumers from Payment Scams Act will go to the Committee on Banking, Housing, and Urban Affairs for review.

Persons: —, JPMorgan Chase, PayPal —, Maxine Waters, Sen, Richard Blumenthal, Elizabeth Warren, Waters, Zelle, Blumenthal, Wells Fargo, Wells, Cameron Fowler Organizations: Service, Bank of America, JPMorgan, Business, PayPal, Consumers, Federal Trade Commission, Rep, Homeland Security, Governmental Affairs, Investigations, Blumenthal, Services, Warning Services, SEC, Consumer Financial, Banking, Housing, Urban Affairs Locations: Zelle, Wells Fargo, jtowfighi@businessinsider.com

☆ A boomer lives on $1,800 monthly in Social Security and worries about her future: 'What am I going to do?'
▼ + stars: | 2024-08-07 | by ( Allie Kelly | ) www.businessinsider.com time to read: +5 min

Miller lives on about $1,800 a month in Social Security income, according to documents viewed by Business Insider. AdvertisementSince she began receiving Social Security several years ago, Miller has been doing her best to live on a fixed income. She said she can afford most of the healthcare she needs through Medicare, the federal health insurance that's typically attached to Social Security. Are you living on a fixed Social Security income? How have you made the decision to enroll in Social Security early or late?

Persons: Ann Miller, Lizzy Rocket —, Miller, She's, —, she's, that's, hasn't, There's, Lizzy, I've Organizations: Service, Business, Social Security, Survey, SNAP, Medicare Locations: Ellensburg , Washington, Seattle

☆ A boomer who moved from Minnesota to Mexico said his cost of living dropped by 50% — but transplants need to respect the culture
▼ + stars: | 2024-08-06 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

Eleven years ago, Mark LeGeros made a big change: The now-65-year-old moved from Minneapolis to Puerto Vallarta, Mexico. There are still adjustments moving abroad, and hopeful movers need to know that. Living abroad brings its own challenges, along with rewards. "But just always have a support group that are dealing with living abroad because you need that adjustment group to help you put things into perspective." "But if you want the adventure of living abroad and learning a new culture, being curious, that kind of thing, that's when you probably should really consider living abroad."

Persons: Mark LeGeros, it's, that's, I'm, LeGeros, He's Organizations: Service Locations: Minneapolis, Puerto Vallarta , Mexico, Mexico, United States

☆ I resigned from Tesla after nearly 8 years. I lost confidence in Elon Musk's vision for the company.
▼ + stars: | 2024-08-06 | by ( Grace Kay | ) www.businessinsider.com time to read: +7 min

This as-told-to essay is based on a conversation with a former Tesla employee who resigned from the company earlier this year and spoke anonymously to protect their privacy. The following year Tesla and SolarCity came to my city and I started in sales at SolarCity. When Tesla acquired SolarCity in 2016, I began working in sales for Tesla Energy. For example, I was on the sales team when Musk announced he only wanted to do online sales. The 2021 Model S and Model X refreshes were designed to make them look the same as the old models.

Persons: Tesla, SolarCity, Elon Musk, I've, Musk, There's, Justin Sullivan, I'd, I'm, — Organizations: Service, Tesla, Falcon, SolarCity, Tesla Energy, Twitter, Business

☆ Meet the new moms using up to $700 in monthly basic income to afford childcare. It could be the answer to helping parents stay employed.
▼ + stars: | 2024-08-06 | by ( Allie Kelly | ) www.businessinsider.com time to read: +10 min

They were not required to meet any household income requirements, which are typical criteria for basic income programs. The US has launched over 100 guaranteed basic income pilots — and RxKids joins a growing number focused on families. She told BI that guaranteed basic income lets parents choose a childcare and employment situation that works best for their families. Shamarra Woods, 31, said Atlanta's guaranteed basic income pilot helped her afford daycare for her daughter. Hashash said that guaranteed basic income can help parents cover these childcare costs and build a career with predictable hours.

Persons: —, Celeste, Timlin, Siobhan, It's, RxKids, GBI, She's, Celeste Lord, Shamarra Woods, Woods, Hashash, she's, who's Organizations: Service, Business, Assistance, US, Pilots, Economic Security, ReadyNation Council, Strong, Opportunity Fund, Women, Children Locations: Flint , Michigan, RxKids, Flint, Los Angeles, Denver, Chicago, Philadelphia, America, Atlanta, Georgia

☆ Millions of student-loan borrowers are getting new details on qualifying for Biden's broader debt cancellation plan coming this fall
▼ + stars: | 2024-08-06 | by ( Ayelet Sheffey | ) 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. Read previewThe Education Department is getting closer to delivering student-loan forgiveness to millions of borrowers. Specifically, the department said that only borrowers who have "entered repayment on at least one of their loans when the debt relief is applied would be eligible for forgiveness on the loan(s) in repayment." Borrowers with PLUS loans are considered to have entered repayment when their loans are fully disbursed. Are you hoping to benefit from Biden's student-loan forgiveness plan?

Persons: —, Joe Biden's Organizations: Service, Department, Higher, Business, Public, Federal, Aid

☆ Logan Paul's Prime supplier is suing the energy drink company for $68 million, accusing it of cutting ties as demand cratered
▼ + stars: | 2024-08-06 | by ( Madeline Berg | ) www.businessinsider.com time to read: +5 min

Refresco accuses Prime of failing to order the required amount during the first year of the contract, incurring a penalty payment. It's not the only lawsuit Prime is facing. In late April, a class-action lawsuit was filed accusing the brand of mislabeling the amount of caffeine in each drink. Prime filed a motion to dismiss the lawsuit. A similar lawsuit filed in 2023 was voluntarily dismissed.

Persons: —, Logan Paul —, Refresco, Paul, Ksi, It's, Sen, Chuck Schumer, they're, dink Organizations: Service, Business, Bloomberg, Refresco, Olympic, Paralympic, Games, USA Locations: Delaware, United States

☆ The true value of grandparents: 2 families explain how much you can save with free childcare
▼ + stars: | 2024-08-06 | by ( Jane Ridley | ) www.businessinsider.com time to read: +6 min

Read previewWhen millennial Jessica Papi was trying to get pregnant, she discussed future childcare options with her mom, Carol Mooney. This story is available exclusively to Business Insider subscribers. "These arrangements are incredibly beneficial to parents," employment attorney Daphne Delvaux, who advocates for better childcare provision in the US, told Business Insider. AdvertisementDevika Tandon wishes her son's grandparents lived closer to help ease the financial and emotional burden of childcare. Do you have an interesting story about being a working parent you'd like to share with Business Insider?

Persons: —, Jessica Papi, Carol Mooney, Papi, Mom, Mooney, Daphne Delvaux, Devika Tandon, Tandon, didn't, Delvaux, I'd Organizations: Service, Business, babysitters Locations: New Jersey, New York, California, Angeles, Toronto, Belgium, Europe, France

☆ I moved from the US to Germany for college. Tuition is mostly free, but I miss the American school spirit.
▼ + stars: | 2024-08-06 | by ( Erin Liam | ) www.businessinsider.com time to read: +5 min

Read previewThis as-told-to essay is based on a conversation with Amanda Mrokez, an American student in Cologne, Germany. In 2021, I withdrew from Central Michigan University and moved to Germany to pursue a teaching degree at the University of Cologne. AdvertisementGermany is lacking school cultureParticipating in school culture was a big thing for me when I was in Michigan. My closet was full of Central Michigan University apparel, and everyone thought it was cool to wear hats and sweatshirts on campus. In Germany, students learn what they must study and what's best for them.

Persons: —, Amanda Mrokez, it's, Erin, eliam@businessinsider.com Organizations: Service, Central Michigan University, University of Cologne, Business Locations: American, Cologne, Germany, Michigan

Chase Sapphire Reserve® OverviewThe Chase Sapphire Reserve® is one of the best travel rewards credit cards of all time. Chase Sapphire Lounges will be available to Chase Sapphire Reserve® cardholders and all Priority Pass members. Chase Sapphire Reserve® vs. Chase Sapphire Preferred® CardIf you're trying to decide between the Chase Sapphire Reserve® and Chase Sapphire Preferred® Card, you'll want to decide if each card's annual fee is justified based on your travel and spending habits. Chase Sapphire Reserve® Cardholder InsightsAs part of our analysis of the Chase Sapphire Reserve®, we've considered discussions across various forums, including notable mentions on Reddit and FlyerTalk. Chase Sapphire Reserve® Frequently Asked QuestionsWhat credit score do you need to get the Chase Sapphire Reserve®?

Persons: Chase, Chase Travel ℠, you'll, Sapphire, John F, Chase Sapphire, You'll, Uber Cash, we've, you'd, you've, they'll, David E, David, —, Read, Katherine Fan, Katherine, Guy, Fortune, Katherine moonlights, she's, She's, Angela Fung Organizations: Business, American, Chase, Chase Travel, Sapphire, Chase Sapphire, TSA, FDIC, Chase Dining, American Express, Hong Kong International Airport, New, Kennedy, LaGuardia, Rental Insurance, Avis, Avis , National, Emergency, Transportation, Sapphire Reserve, Reserve, Capital, Venture, Centurion, overpaying, Yorker, Muhlenberg College, University of Edinburgh, Twitter, Finance, Cards, CNN, Forbes, Wall, Dallas Morning News, Newsweek, Nasdaq, MSN, Yahoo, SXSW, Austin American, Statesman, University of Texas, National Taiwan University Locations: DoorDash, airfare, Boston, Austin, Canada, Avis ,, Seattle, Redbird, Los Angeles, Healdsburg , California, New York City, Chicago, Reddit, Dallas , Denver, Dulles, Las Vegas, New York, Hong Kong, Chevron, There's, Slotnick, Scotland, orcas, Antarctica, Japan, New Zealand, South Africa, Taiwan

☆ A couple's counselor has been married for 52 years. These are her top relationship secrets.
▼ + stars: | 2024-08-05 | by ( Jane Ridley | ) www.businessinsider.com time to read: +5 min

Now, at 72 and 73, the couple — who work together as relationship counselors — has 52 years of marriage behind them. This story is available exclusively to Business Insider subscribers. "We called it our 'power struggle phase,'" she told Business Insider. She said her bond with her husband strengthened after he told her about his strained relationship with his mother. Do you have an interesting story about your relationship that you'd like to share with Business Insider?

Persons: —, Barbara Grossman, Michael Grossman, Dr, Grossman, Michael, togetherness Grossman Organizations: Service, Business

☆ A Gen Xer who 'retired' at 45 shares how the FIRE movement and side hustles helped him grow his savings to over $6 million
▼ + stars: | 2024-08-04 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

I stopped spending money on things that weren't of value to me." Side hustles and investing in retirement can boost one's savingsOver the past decade, Grumet has padded his savings through various income streams. In addition to hospice work, he's also tried side hustles that include medical expert work, nursing home medical directing, medical blogging, and several forms of consulting. While the extra income has helped boost his savings, Grumet said investing much of this income into the stock market — and seeing strong investment returns — is what's allowed his finances to truly blossom. Grumet said his retirement goal was to have at least 25 times his total annual spending in savings — he's already met this milestone.

Persons: —, Jordan Grumet, Grumet, who's, he's Organizations: Service, Business, BI, FIRE Locations: Illinois

☆ A millennial dentist with $231,000 in student debt is worried he'll have to sell his home or get a second job if Biden's new repayment plan is axed
▼ + stars: | 2024-08-04 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Related storiesShould the plan ultimately be blocked, David said he might have to sell his home or get a second job to afford higher student-loan payments again. But he's highly concerned about his fate with the SAVE plan up in the air. They cited an estimate from the Wharton School of the University of Pennsylvania that found the SAVE plan could cost $475 billion over 10 years. Are you enrolled in the SAVE plan and concerned about student-loan payments? Will student loans influence how you vote in the election?

Persons: David, David —, —, Joe Biden's, we've, you'll, he's Organizations: Service, Business, BI, Circuit, GOP, Education Department, Wharton School, University of Pennsylvania, SAVE Locations: recalculate

☆ I took a job in New Zealand after my life turned upside down. I love it here, but the pay isn't sustainable.
▼ + stars: | 2024-08-04 | by ( Tess Martinelli | ) www.businessinsider.com time to read: +6 min

Read previewThis as-told-to essay is based on a conversation with Camille Fahrnbauer, a 26-year-old travel nurse from Georgia currently working in New Zealand. Travel nursing in the US was debilitating. So when my husband left me unexpectedly and my life flipped upside down, I took a nursing job in New Zealand. AdvertisementFor a fresh start, I signed a year-long nursing contract in New ZealandI'd been travel nursing across the West Coast for three years when I started feeling a pull to nurse abroad. Dubai is at the top of my list because it's reported to have a great work-life balance and solid pay.

Persons: —, Camille Fahrnbauer, It's, I've, I'd, we're, I'm, Tess Martinelli, tmartinelli@businessinsider.com Organizations: Service, Business, West Coast, Facebook Locations: Georgia, New Zealand, West, Auckland, Dubai

☆ A former teacher who spent at least $4,000 on her students details what she bought and why educators 'feel a lot of pressure to spend their own money'
▼ + stars: | 2024-08-04 | by ( Madison Hoff | ) www.businessinsider.com time to read: +5 min

In 2022, Amelie Krikorian bought books, rugs, chocolate, paint, flashcards, beads, and more for her students and classroom with her own money. "Teachers who want to make elementary school a positive and enriching experience do feel pressure to spend their own money," she told BI. Krikorian, who has since left the education field, said teachers shouldn't have to spend their own money on their classrooms. And when schools don't supply all the materials, teachers often step up. For enrichment purposes over the years, Krikorian "bought books that enabled the kids to do additional reading about what we were doing in history and science," she said.

Persons: Amelie Krikorian, shouldn't, Krikorian, it's Organizations: Service, Business, Survey, eBay, Walmart, Target Locations: Egypt

☆ A child-free boomer doesn't regret her choice despite the social pressure. She has financial freedom and can spend the rest of her life giving back.
▼ + stars: | 2024-08-03 | by ( John Towfighi | ) www.businessinsider.com time to read: +7 min

That decision has afforded her financial freedom — she said she has enough savings to support herself in retirement until she's 110. What's more, she's avoided being sandwiched between caring for children and her parents. In her earlier life, Snyder married her late husband Phil in 1986, and they bought a small ranch in Beaverton, Oregon, where she still lives. While the environment — not money — was the reason she didn't have children, Snyder said it allowed her and Phil more breathing room in their financial and social decisions. AdvertisementAre you sandwiched between caring for your parents and raising your children?

Persons: —, Ann Snyder, Snyder, she's, Phil, that's Organizations: Service, Pew Research, Business, Oregon Ballet Theater, University of Iowa, Oregon Department of Transportation, Portland Public Schools, Oregon Department of Human Services, Pew Research Center Locations: American, Beaverton , Oregon, Mount Hood, Ohio, Oregon, Portland

☆ Forget Uber and Airbnb: Some people are going back to doing things the old-fashioned way to save money
▼ + stars: | 2024-08-03 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +9 min

"If I was using rideshares and the delivery apps and everything the way I was, I would run out of money each month," she said. For some, like Manley, it means going back to the old-fashioned way of doing certain things: shopping around for hotel deals, taking public transit more, and working out at home with fitness classes on video. AdvertisementGrant Plotkin, 26, is a Gen Zer who experienced the pre-2020 millennial subsidy as a young adult. The next iteration of the millennial subsidy might be gamifying surge pricing for groceries or a side of fries. AdvertisementHas the loss of the millennial subsidy affected your finances or lifestyle?

Persons: Sarah Manley, Manley, She's, they'd, Millennials, YipitData, Grant Plotkin, Zer, he's, Plotkin, Ubers, Brett House, that's, Bilal Baydoun, Baydoun Organizations: Service, Business, Bloomberg, Netflix, Columbia Business School, Dollar, Aldi, Big Tech, American Locations: Baltimore, it's

☆ A New York basic income participant used his monthly $1,000 to pay bills and launch a nonprofit
▼ + stars: | 2024-08-02 | by ( Allie Kelly | ) www.businessinsider.com time to read: +6 min

Read previewAround the time that Kenneth McQueen received his first guaranteed basic income payment, he started rollerskating. McQueen was a participant in Creative Rebuild New York, a guaranteed basic income pilot for artists across the state. Previous participants have told BI that they used their basic income to pay rent, afford groceries, drop second jobs, pay down debt, and support their families. Basic income improved McQueen's mental health, encouraged entrepreneurshipPrimarily, basic income gave McQueen "peace of mind," he said. AdvertisementMcQueen isn't sure what will happen next, but he's grateful for the way basic income helped his career and mental health.

Persons: —, Kenneth McQueen, McQueen, — McQueen, Dr, Diana Pearce, Stavros Niarchos, GBI, It's, Maura Cuffie, Peterson, I'm Organizations: Service, Rebuild, Business, Alliance, Creative Rebuild, Mellon Foundation, Tides Center, Ford Foundation, America Locations: Harlem, York, hoodies, tote, New York

☆ Why workers who lose their jobs to AI will be better off than the Midwest manufacturing employees of two decades ago
▼ + stars: | 2024-08-02 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +9 min

Similar to US manufacturing workers who lost their jobs in recent decades to advancements like automation, those displaced by AI could find themselves without the skills needed for the modern workforce. It comes down to when — and where — AI job losses are likely to materialize. Davis said there are several reasons workers who are displaced by AI should have an easier time finding work than many manufacturing workers of the past. Impacted workers in cities would be more likely to have job opportunities than workers where manufacturing jobs were concentrated, which often were in the Midwest. Widespread AI job displacement won't happen for at least a decadeWhile Davis is uncertain about the timing and scale of AI job displacement, he said he doesn't expect AI to drive major job losses over the next decade.

Persons: —, Goldman Sachs, It's, Steven Davis, Hoover Institute —, Davis, it's, — Davis, they've, they're, Joe Biden, there's, Jim Covello, that's Organizations: Service, Business, Hoover Institute, Stanford University —, Bureau of Labor Statistics —

☆ I sacrificed my honeymoon and almost cut my maternity leave short for work. I've learned to prioritize my family and set boundaries.
▼ + stars: | 2024-08-02 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +8 min

Working hard didn't protect me from getting laid offAfter college, I worked as an editor in 2008. After a year, I landed a job working for a small school. This time, I took the approach that work is work and didn't want to give so much time to it. While in the office, my boss asked me for updates on the project I'd been working on before taking leave. I love my work and work hard, but it's just a part of who I am — not my entire identity.

Persons: —, Kari Shafenberg, Levi Shafenberg, I've, It's, we'd, I'd, they'd, wasn't, That's, Shafenberg Organizations: Service, Army, Business, Management Locations: Colorado

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