DIRS.INFO The most relevant business & tech news

☆ An obituary for the Metaverse, the latest fad to join the tech graveyard
▼ + stars: | 2023-05-14 | by ( Matt Turner | ) www.businessinsider.com time to read: +3 min

On the agenda today:An obituary for the metaverse, the latest fad to join the tech graveyard. BlackRock is wrestling with who could succeed Larry Fink. Also read:Who will succeed Larry Fink? BlackRock CEO Larry Fink Thos Robinson/Getty Images for The New York TimeWall Street has long been fascinated by succession stories. CEO Larry Fink, now 70-years old, has the rare distinction of leading a Wall Street behemoth he helped found.

☆ 10 Things in Tech: TikTok is transforming comedy, Microsoft’s futuristic doctor visits, and Elon Musk announces a new Twitter CEO
▼ + stars: | 2023-05-12 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

My colleague Lakshmi Varanasi tested a buzzy AI service called Runway that can generate full videos from just a text prompt. She found that using Runway feels similar to using OpenAI's controversial Dall-E 2 or Stable Diffusion — impressive but not perfect. Check out the photos and videos Runway generated for her here. In other news:In a conference presentation, Andrea Barrett, a physician assistant and Nuance consultant, demonstrates products using generative AI. Elon Musk tweeted on Thursday that he's picked a new CEO for Twitter.

☆ When Jamie Dimon speaks, Wall Street listens - and he just warned of catastrophe
▼ + stars: | 2023-05-12 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

But on Thursday, the man with the most gravitas on Wall Street shared his take on the potentially catastrophic scenario that's just weeks away. Everyone pays attention when Jamie Dimon speaks. In an interview with Bloomberg, Dimon said he's put together a "war room" at JPMorgan to plan for contingencies around a potential US default. While Dimon doesn't anticipate the country will actually see its first-ever default, he acknowledged the clock is running down. "Markets will get volatile, maybe the stock market will go down, the Treasury markets will have their own problems."

☆ Thanks for the memories (and money) index-rebalance strategies
▼ + stars: | 2023-05-12 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

A man pauses outside of the New York Stock Exchange (NYSE) on January 15, 2016 in New York City. Index-rebalance strategies, the talk of the town just a few short years ago, are seemingly on their last legs these days. What doomed the index-rebalance strategy is a tale as old as time on Wall Street. Times are tough now, but as Alex notes in his story, not everyone is completely giving up on the strategy. And while we're talking Man Group, here's a rundown on a program meant to help non-tech workers learn data-science skills to help streamline their jobs.

☆ For Wall Street's incoming interns, it's not exactly dress to impress
▼ + stars: | 2023-05-11 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

As Wall Street internship season quickly approaches, that's a question many soon-to-be summer analysts are asking each other. One big trend Emmalyse notes in her story is the casualification, so to speak, of Wall Street. But the Wall Street dress code was starting to change before 2020, thanks in large part to the tech community. Read more about Wall Street's new dress code for summer analysts. Wall Street's litigious sibling is not an appealing career path to Gen Zers, the Financial Times reports.

☆ 10 Things in Tech: Amazon is offering money to pick up your order, ChatGPT writes a “Succession” scene, and tips from an OnlyFans creator
▼ + stars: | 2023-05-10 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

Amazon Astro Amazon1. Internal documents revealed that Amazon plans to make Astro "more intelligent, more useful, and conversational." The project is internally called "Burnham" and is the latest example of Amazon's push to bring AI to its services and products. Internal documents signal that Amazon is pretty confident that this is a major upgrade to the home robot. Amazon is offering $10 for you to pick up your own order.

☆ The $31 trillion debt-ceiling fiasco could punish markets and it's complicating an already complex economic outlook
▼ + stars: | 2023-05-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

In any case, one outcome that many hold with a high degree of certainty is that financial markets are going to feel pain if the "x-date" bell tolls. This $31 trillion debt ceiling argument "comes at the worst possible time," according to Chicago Fed President Austan Goolsbee. "Many past instances of debt limit standoffs have been resolved without significant market fallout," the strategists wrote in a recent note. That's according to LPL chief global strategist Quincy Krosby — she says it boils down to these three reasons. With recession risks climbing, Bank of America analysts slashed their 2023 outlook for oil prices.

☆ Digital health faces the same hurdle as fintech: Get profitable or get lost.
▼ + stars: | 2023-05-10 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Digital health, once the darling of the healthcare industry, is having a tough go of it. After a pandemic-fueled surge when health services and offerings utilizing tech were prioritized, digital health has come back down to earth. The similarities between digital health and fintech are striking. For both fintechs and digital health, this year has served as a reminder that they're only partly tech companies. Click here for predictions from 16 bankers and dealmakers on the future of digital health.

☆ Don't look now, but Wall Street bonuses are already trending in the wrong direction
▼ + stars: | 2023-05-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Wall Street, I'm sorry to say your 2023 bonus is already on some shaky ground. I realize we're not even halfway through the year, but after an awful first quarter, bonuses in plenty of areas of finance are trending in the wrong direction. It's a mixed bag, with some areas trending toward a double-digit percentage increase over 2022, while others are heading the opposite way. If that isn't a certainty, you can bet people, especially those earlier in their career, will look for greener pastures. Six of the largest European and US oil companies have a combined nearly $160 billion in cash and cash equivalents on their balance sheets, The Wall Street Journal reports.

☆ 10 Things in Tech: Androids v. iPhones in ‘Succession,’ AI tools besides ChatGPT, and a check signed by Steve Jobs
▼ + stars: | 2023-05-09 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

It's reportedly frustrating customers who are prompted to add a tip when they haven't interacted with the people they're tipping. Before I begin discussing eradicating tipping culture (and replacing it with a living wage for workers), let's dive into today's tech. But the hype cycle around generative AI — that started with ChatGPT — threw them a lifeline. AI tools — besides ChatGPT — to boost your productivity. A $175 check signed by Steve Jobs is up for sale.

☆ Quiet quitting hits the housing market: Tight inventory and still-high mortgage rates keep would-be buyers sidelined
▼ + stars: | 2023-05-09 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Today we're talking housing — but before we get to that, the big thing to watch today is President Joe Biden's meeting with congressional leaders. Joe Raedle/Getty ImagesThe housing market seems to be taking a page from the labor market's playbook right now. Daryl Fairweather, Redfin's chief economist took to Twitter last week to describe the sluggish sector:"Homeowners are quiet quitting the housing market." In effect, more and more homeowners are choosing to stay put with their low mortgage rates locked in, rather than trying to finance a new home at rates that are hovering around 20-year highs. That's due mostly to high rates causing homes to sit on the market longer than usual, which leads to accumulating inventory.

☆ Billionaires and CEOs descended on Beverly Hills to talk recession, bank failures, and more. Here's the inside track.
▼ + stars: | 2023-05-07 | by ( Matt Turner | ) www.businessinsider.com time to read: +4 min

On the agenda today:But first: The big takeaways from the Milken Institute Global Conference in Beverly Hills. Senator Joe Manchin (D-WV) speaks at the 2023 Milken Institute Global Conference Mike Blake/ReutersThe big-money set jetted into LA last week for the Milken Global Conference. Biggest opportunityCampbell: The pullback in lending by banks is raising the hopes of those in the private credit industry. Read more:'Junk fees'Getty ImagesIt goes by many names: an administrative fee, a transaction fee, even a "regulatory compliance" fee. Akash Nigam, the founder and CEO of Genies, who is spending $2,400 a month on ChatGPT accounts for all his employees.

☆ 10 Things in Tech: Joe Biden has tried ChatGPT, Silicon Valley goes sober, and leaked Shopify audio
▼ + stars: | 2023-05-05 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

And Silicon Valley is catching on, too. My colleague Samantha Stokes did a deep dive into the growing trend of techies avoiding alcohol. Silicon Valley goes sober. My colleague Samantha Stokes examined this growing trend in Silicon Valley and gives some insight into the drying industry. In other news:Screenshot of Hot Chat 30002.

☆ The top commentators in markets say the bank crisis isn't anywhere close to over.
▼ + stars: | 2023-05-05 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Today we're looking at what some of Wall Street's top investors and commentators say has to happen to curb the banking tumult. The shuttered bank had disclosed in its first-quarter earnings report that customers pulled over $100 billion of deposits in three-months. But even if the regulator did insure more money, former FDIC chair Jelena McWilliams said Thursday a move like that would only cost banks' customers more. A stock market portfolio created by ChatGPT is outperforming the top UK investment funds. Stock market investors should keep an eye out for five key indicators with volatility set to ramp up through the end of the year.

☆ Davos vs. Milken: Battle of the high-profile conferences
▼ + stars: | 2023-05-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Arguably the biggest financial conference of the year just wrapped in Beverly Hills. Insider's Dakin Campbell, who was on the ground at Milken, has a report on the five biggest topics discussed this year. Dakin's report got me thinking about how Milken stacks up against another high-profile conference: Davos. Milken is also designed, thanks to its namesake, with a keen eye on what the finance industry wants, he added. Click here to read more about the biggest topics being discussed at the Milken Conference.

☆ Wells Fargo is pushing for quantity over quality in its private bank
▼ + stars: | 2023-05-04 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Which brings us to a fantastic story about Wells Fargo's decision to reorganize how it serves its ultra-rich clients. And while many understood some changes were necessary, nearly everyone agreed the bank didn't go about it the right way. Read more about Wells Fargo's chaotic reorganization of its private bank. It's the latest move in what has been an active 12 months for the bank's tech division. The accounting firm had signed off on financial statements from Silicon Valley Bank, Signature Bank, and First Republic, the Financial Times reports.

☆ Elite investors and fund managers at the legendary Milken conference warn of a recession and credit crunch
▼ + stars: | 2023-05-04 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Elite money managers overseeing trillions of dollars convened at the 2023 Milken Global Conference in Los Angeles this week. The consensus was clear: they think markets are mispositioned for a scenario where the central bank keeps rates higher for longer. "As our chief economist likes to say," Hunt said, "at higher rates, bodies will continue to float to the top over the course of the summer." And with yet another Fed rate hike officially in the books, financial conditions are only going to get tighter and more companies could be caught off-guard. On Wednesday, West Texas crude dropped more than 4.4%, the steep declines coming the same day as the Fed's rate hike.

☆ 10 Things in Tech: Uber wants to predict your habits, Apple and Google team up, and Lebron James eyes Complex Networks
▼ + stars: | 2023-05-04 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

And minting it could be a solution to avert a major economic catastrophe (here's an explanation of the looming disaster, by the way). This average-looking coin could prevent job losses, steep cuts to retirement savings, and other major financial blows. Shopify employees and experts brace for shakeup. Multiple sources told Insider that his company, SpringHill Co., has internally discussed offering around $100 million to buy Complex from Buzzfeed. Google tells employees to limit publishing AI research.

☆ 10 Things in Tech: AI-generated Drake songs, discounted startups, and Amazon’s upgraded Alexa
▼ + stars: | 2023-05-03 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

I'm Diamond Naga Siu, and in this turbulent economy, I definitely want stability over most other things. And my colleague Grace Mayer highlights how retail, finance, and other (seemingly more stable) industries are piquing our interest instead. A leaked document viewed by Insider revealed that Amazon wants to focus on entertainment features for Alexa. The upgrade will feature Amazon's own generative AI technology instead of using OpenAI's technology (like how Microsoft paired ChatGPT with Bing). Bell dished to my colleague Ashley Stewart on why he made the move, how he met Satya Nadella, and more.

☆ The Fed could deliver the final rate hike of a historically aggressive cycle today. Here's what to know.
▼ + stars: | 2023-05-03 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

All eyes are on the Fed today as officials ready their decision on what could be the final rate hike of the cycle. We'll hear from central bank chief Jerome Powell today at 2 p.m. The last time the fed funds rate hit that level was during the housing boom in 2006, in the run up to the 2008 crisis. Broadly, markets are acting as if today's potential rate hike will be the final one of the Fed's lengthy, aggressive cycle that's brought so far nine consecutive raises, the last of which was a 25 basis-point move in February. "The market is telling you, in terms of forward yield curves, that they expect the Fed to make a mistake."

☆ This is the banking crisis that doesn't end
▼ + stars: | 2023-05-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

This is the banking crisis that doesn't end. So, about that banking crisis being over. The ink is barely dry on JPMorgan's agreement with regulators and it seems more regional banks are feeling the pain. Customers of regional banks are starting to ask questions about how safe their local lender is, the Financial Times reports. Here's more on how regional banks are still getting slammed despite JPMorgan's Jamie Dimon calling an end to the bank crisis.

☆ Wall Street's most important workers you've never thought of
▼ + stars: | 2023-05-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

And on Wall Street, where the volume of information continues to rise, application design and user interface is taking center stage. User interface and user experience have long been underappreciated in finance, which is ironic considering the public nature of the work. Read more about Citadel X, the $57 billion hedge fund's user experience and interface team. If you're still trying to understand the collapse of yet another regional bank, we've got you covered. The German bank is building out its investment bank as it eyes a potential return of M&A, the Financial Times reports.

☆ 10 Things in Tech: Free Apple AirTags, EV resistance, and ChatGPT Plus for all
▼ + stars: | 2023-05-02 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

I attended my first rodeo, woke up early for a farmers' market, visited different pickleball venues, and tried other new things. Researchers examined 1,600 conversations (850 hours and 7 million words total) and measured how people reacted to the interactions. Firstly, IRL conversations involve a degree of back-and-forth that is hard to replicate digitally because of lag and missed cues. Elon Musk pays $10,000 to settle a defamation lawsuit. Elon Musk has cut around 90% of the company within half a year of taking over.

☆ Are we in a recession? Elon Musk says the pile of failed banks proves it.
▼ + stars: | 2023-05-02 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

As for today, let's see what Elon Musk and Larry Summers have to say about the state of the economy. In any case, ex-Treasury Secretary Larry Summers said recession odds for the next year are now sitting at 70%. These six factors suggest the stock market bottomed last October. Morgan Stanley's top equity strategist Mike Wilson thinks investors are banking too hard on a potential Fed rate cut this year. That discrepancy could set the stock market up for a sell-off, in his view.

☆ Big Tech is pursuing 'the year of efficiency.' It could get supercharged by AI.
▼ + stars: | 2023-04-30 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

On the agenda today:But first: Why Big tech's new focus on efficiency could have far-reaching impacts. Tech jobs aren't coming backTech giants have been slashing jobs. Companies from Meta to Salesforce have cut jobs in the recent months in the pursuit of efficiency and profit margins. Also read:Whistleblower docs: Jane RobertsSupreme Court Justice Chief Justice John Roberts and his wife Jane Roberts arrive for a 2018 State Dinner at the White House. At least one of those firms argued a case before the chief justice after paying his wife hundreds of thousands of dollars.

Search resuls for: "Hallam"

25 mentions found