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☆ Wells Fargo may have underestimated just how savvy millennial credit card holders can be
▼ + stars: | 2024-06-18 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +7 min

Read previewWells Fargo may have underestimated just how savvy young professionals could be with a credit card that rewards renters. A Bilt spokesperson told Business Insider that Wells Fargo does not make the numbers publicly available. In an email, a Wells Fargo spokesperson told Business Insider that co-branded credit cards are "one modest piece of the company's overall credit card business strategy, and the BILT credit card is one component of that." The Wells Fargo spokesperson said that "there has been no conversation among decision-makers to exit the BILT agreement. A Bilt spokesperson said the Journal's story is an "inaccurate representation of our strategic partnership with Wells Fargo."

Persons: —, Wells, Bilt, Dave Canty, Bilt's, Ankur Jain, Kevin, Amanda Smidt, they've, I've, Amanda, anesthetist, I'm, Wells Fargo, Amanda chimed, Jain Organizations: Service, Bilt Technologies, Business, Alaska Airlines, Virgin Atlantic, Hyatt, Wall Street, Financial Technology Partners, Miami, The Locations: Wells Fargo, San Francisco, Alaska, Wells, Miami, New York

☆ Election Updates: A Democratic brawl in a Virginia race may put a House seat in play in November.
▼ + stars: | 2024-06-18 | by ( Jonathan Weisman | ) www.nytimes.com time to read: +7 min

One of the field’s top fund-raisers, Krystle Kaul, faces charges of embellishing her résumé well beyond the usual flourishes of a political campaign. Ms. Filler-Corn was the first woman and first Jewish speaker of the Virginia State House. Mr. Helmer is a Rhodes scholar and an Army veteran who served in Afghanistan, Iraq, and as a member of the Virginia House. Then last week, an anonymous Democratic official, speaking through her lawyer, accused Mr. Helmer of groping her and later making sexually crude remarks. “That would be presumptuous.”Democratic voters in the district peppered by texts attacking Mr. Helmer could be forgiven if they do not know where to turn.

Persons: Dan Helmer, Eileen, Krystle Kaul, Suhas Subramanyam, Jennifer Wexton, Subramanyam, Helmer, Barbara Comstock, Donald J, Trump, Mr, “, Ms, Wexton, Helmer of groping, Kaul, Michele Davis Younger, ”, Will Reinert, Subramanyam’s, Aliscia Andrews, Alexander Isaac, Avram Fechter Organizations: Congressional, Democratic, Senate, Republican, Virginia State House, Army, Virginia State House Democrats, Washington Post, Loudoun County Democratic Party, National Organization for Women, ”, Republicans, Democrat, National Republican Congressional, ” Democratic, Virginia Democratic, Federal, Commission, PAC, United States Central Command, Department of Defense, Marine Corps, Loudoun County Democratic Locations: Washington, Israel, Virginia, Rhodes, Afghanistan, Iraq, Democratic, Loudoun County, Va

☆ Israeli Daytime Pause in Combat Appears to Take Hold in Gaza
▼ + stars: | 2024-06-17 | by ( Shashank Bengali | ) www.nytimes.com time to read: +7 min

The change did not mean a cessation of fighting in the southern Gaza Strip, that statement said, adding that the campaign in the southernmost city of Rafah was continuing. The whipsaw statements appeared to reflect the competing pressures facing Mr. Netanyahu, as he juggles demands from the Biden administration and elsewhere around the globe with those of his own hawkish government. But Mr. Netanyahu insinuated that he did not learn of the plans until Sunday morning. Image Children waiting for food in Khan Younis, southern Gaza Strip, on Saturday. At least 10 Israeli soldiers were killed in combat this weekend and an 11th died of wounds sustained days earlier.

Persons: Benjamin Netanyahu, Netanyahu, Biden, —, Khan Younis, Haitham Imad, Bibi, ”, Amos Harel, ” Mr, Harel, Shani Sasson, Ms, Sasson, “, Eid, Omar Al, Yoav Gallant, Gadi, Benny Gantz, Mr, Eisenkot, Netanyahu’s, Itamar Ben, Gvir, Ben, Waseem Mahmoud, Amir Levy, Bezalel Smotrich, Gabby Sobelman Organizations: Military, ., “, Mr, Cogat, United Nations Security Council, Agence France, International Criminal, Israel’s, Hamas Locations: Gaza, Rafah, Khan, Israel, Gaza City, The Hague, Egypt, Beit Jann

☆ Middle East Crisis Israeli Military Says Hezbollah’s Strikes Risk ‘Wider Escalation’
▼ + stars: | 2024-06-17 | by ( Mike Ives | Randy Pennell | ) www.nytimes.com time to read: +7 min

The change did not mean a cessation of fighting in the southern Gaza Strip, that statement said, adding that the campaign in the southernmost city of Rafah was continuing. The whipsaw statements appeared to reflect the competing pressures facing Mr. Netanyahu, as he juggles demands from the Biden administration and elsewhere around the globe with those of his own hawkish government. But Mr. Netanyahu insinuated that he did not learn of the plans until Sunday morning. Image Children waiting for food in Khan Younis, southern Gaza Strip, on Saturday. Credit... Haitham Imad/EPA, via Shutterstock“It’s classic Bibi,” said Amos Harel, the military affairs analyst for the left-leaning Haaretz newspaper, referring to Mr. Netanyahu by his nickname.

☆ Armie Hammer called the sexual abuse allegations against him 'career death.' Here's a timeline of the actor's controversial fall from grace.
▼ + stars: | 2024-06-17 | by ( Jacob Sarkisian | Jason Guerrasio | ) www.businessinsider.com time to read: +16 min

Hammer denied certain allegations against him, such as the allegation of rape, and simply avoided or refused to address others. Leon Bennett/WireImageDuring the timing of the alleged messages, Hammer was married to Elizabeth Chambers. AdvertisementThat same year, the actor told Elle magazine that a former girlfriend tried to stab him while they were having sex. "I hit really dark low points," Hammer told Ramsey. Hammer denied rumors that he is a cannibal, calling them "bizarre," and said he's now sober after doing an extended stint in rehab.

Persons: —, Hammer, @houseofeffie, Armie Hammer, Richard Shotwell, Jennifer Lopez, Armie, Josh Duhamel, Hammer's, Elizabeth Chambers, Leon Bennett, Chambers, Julie Miller, Elizabeth, exes, Courtney Vucekovich, Paige Lorenze, Andrew Brettler, Mr, Jessica Ciencin Henriquez, Henriquez, Rebecca, Marquis de Sade, Elle, Angelova, Gloria Allred, Brettler, Allred, Effie, wasn't, Tyler Ramsey, Ramsey, he's, I'm, Moises Mendez II, Gabi Stevenson Organizations: Service, Air Mail, Business, Los Angeles Police Department, LAPD, Hollywood, Variety, Lionsgate, Hammers, Fox News, Daily Mail, Netflix, Playboy, Hollywood Reporter, Facebook Locations: Los Angeles, Dominican Republic, Netflix Brazil, LA, Cayman Islands

☆ Adidas is investigating allegations of embezzlement and kickbacks in China
▼ + stars: | 2024-06-17 | by ( Laura He | Wayne Chang | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Adidas says it has started an investigation into allegations of “compliance violations” in China, a key market for its sportswear. The reported complaint alleged that a senior executive in Greater China who manages Adidas’ marketing budget had embezzled millions of euros and taken huge kickbacks from external advertising and celebrity agencies. Greater China — a region that encompasses mainland China, Hong Kong and Taiwan — contributes 15% of the company’s sales. In mainland China, Adidas is the second largest international sportswear brand behind Nike (NKE). Adidas is well known for playing the “celebrity” card in its marketing in China.

Persons: Hong Kong CNN —, Jiemian, Claudia Lange, ”, Lange, ’, Taiwan —, —, Yang Mi, Yi Yangqianxi Organizations: Hong Kong CNN, Hong Kong CNN — Adidas, Adidas China, CNN, Adidas, Nike Locations: China, Hong Kong, Taiwan, Beijing, Xinjiang

☆ Adidas investigates bribery allegations in China, FT says
▼ + stars: | 2024-06-16 | by ( ) www.cnbc.com time to read: +1 min

Adidas has launched an investigation into allegations of large-scale bribery in China after the company received a whistleblower complaint that accused senior staff of embezzling "millions of euros", the Financial Times reported on Sunday. Adidas confirmed that it had received an anonymous letter on June 7 indicating potential compliance violations in China. The German sportswear company said it was investigating this matter together with external legal counsel. According to the FT, the letter alleges that Adidas staff received kickbacks from external service providers who were commissioned by the company that include "millions in cash from suppliers, and physical items such as real estate". China sales of the German sportswear giant grew by 8% in the first-quarter, the company reported earlier.

Organizations: Adidas, Financial Times Locations: China, Adidas China, German

☆ I commute 5 hours from Hamburg to London so I can live with my partner. It's not sustainable.
▼ + stars: | 2024-06-16 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +7 min

Read previewThis as-told-to essay is based on a conversation with Seb, 32, about his commute from Hamburg to London for work. However, my team was switching back to in-person work, so it wasn't particularly fair for me to work completely remotely. My fastest time so far has been four hours and 44 minutes, and the longest has been close to six hours. Hamburg is a lot cleaner than London, and the roads are a lot quieter. It's not like I ended up with someone Spanish and got to live in a sunny beach destination in Spain.

Persons: —, Seb, I'd, I've, packer, I'm, there's, It's Organizations: Service, Business, European Union, British Airways, London Heathrow, Hamburg Airport, Airport, Netflix, Spanish Locations: Hamburg, London, TikTok, Germany, Canary, England, Spain

☆ New York City Removes Two Parents From School Councils Over Behavior
▼ + stars: | 2024-06-15 | by ( Troy Closson | ) www.nytimes.com time to read: +1 min

Two elected parent leaders in New York City were removed from their school council positions on Friday, a rare step by school officials that reflected the escalating fights over broader political and cultural issues in local schools. The remarkable move by the schools chancellor, David C. Banks, appeared to be the first time that the administration has removed elected parent leaders from their posts. It came after both parents had faced months of public backlash over issues including rules regarding transgender students in sports and the Israel-Hamas war. One of the parents, Maud Maron, was rebuked by the schools chancellor after an education news outlet, The 74, reported that she wrote “there is no such thing as trans kids” in a private text chat. The parents also took issue with her promoting a student walkout to call for a cease-fire in Gaza.

Persons: David C, Banks, Maud Maron, Israel, Maron, Tajh Sutton Organizations: The New Locations: New York City, Israel, The New York, Gaza

☆ 'Win-win-win': Three-day hybrid work week is a success, largest study to date published in Nature says
▼ + stars: | 2024-06-14 | by ( Kaya Ginsky | ) www.cnbc.com time to read: +6 min

The three-day in-office hybrid work schedule is a "win-win-win," according to a study published in the prestigious science journal Nature. Non-manager attrition for hybrid employees had a 2.4% rate, a one-third reduction from the control group of 7.2%. When managers measured employees in nine categories of performance, execution and results, hybrid employees succeeded at the same rate. By the end of the experiment, managers positively viewed hybrid work as a potential asset to the company rather than a detriment to productivity. From an economic policymaking standpoint, hybrid work is one of the few instances where there aren't major trade-offs with clear winners and clear losers.

Persons: Nick Bloom, Bloom, Ruobing Han, James Liang, Trip.com, JPMorgan Chase, Jamie Dimon, Mark Zuckerberg Organizations: Stanford's Institute for Economic, Boeing, UPS, Nike, JPMorgan, University of Pittsburgh Locations: Shanghai, U.S

☆ The Nigerian fashion labels feeling forced to show in private
▼ + stars: | 2024-06-13 | by ( Bolaji Akinwande | ) edition.cnn.com time to read: +8 min

Lagos CNN —Since its inception in 2011, Lagos Fashion Week has been a twice-yearly highlight of the African fashion calendar, a multi-day showcase attracting the continent’s top design houses, big name sponsors, as well as an international audience. Lagos Fashion Week has been running since 2011. Why am I not surprised?” (The magazine said they approached Lagos Fashion Week at the time, who did not respond to their requests for comment.) Udiahgebi, a fashion brand known for its androgynous pieces, has successfully hosted private shows in this way. Lagos Fashion Week did not respond to CNN’s repeated requests for comment.

Persons: —, Gay, Timileyin, ”, Fola Francis —, Francis, “, Maxivive, Papa Oyeyemi, Weiz Dhurm Franklyn, Tosin, inclusivity, Dhurm Franklyn, Chiemerie Udiahgebi Ugwoke, …, Fola Francis, Aanuoluwa Ajide, Daniels, Kayode Organizations: Lagos CNN —, Lagos Fashion, Orange Culture, Lagos, Sunday, —, Queercity Media, Lagos Pride, CNN, Independent, Tzar, Tzar Studios, Maxivive, AP Aso, Brand Locations: Lagos, Nigeria, AP Aso Nigeria, Aso, Africa

☆ Montana Has More Cows Than People. Why Are Locals Eating Beef From Brazil?
▼ + stars: | 2024-06-13 | by ( Susan Shain | Rebecca Stumpf | ) www.nytimes.com time to read: +1 min

“Making It Work” is a series is about small-business owners striving to endure hard times. While many people can conjure up romantic visions of a Montana ranch — vast valleys, cold streams, snow-capped mountains — few understand what happens when the cattle leave those pastures. Even here, in a state with nearly twice as many cows as people, only around 1 percent of the beef purchased by Montana households is raised and processed locally, according to estimates from Highland Economics, a consulting firm. As is true in the rest of the country, many Montanans instead eat beef from as far away as Brazil. Any ranchers who want to break out from this system — and, say, sell their beef locally, instead of as anonymous commodities crisscrossing the country — are Davids in a swarm of Goliaths.

Persons: don’t, JBS, Tyson, Davids Organizations: Highland Economics, Tyson Foods, Cargill, Foods, Walmart, Costco Locations: Montana, Brazil

☆ Vintage polaroids of female prisoners paint an intimate picture of womanhood and identity
▼ + stars: | 2024-06-12 | by ( Zoe Whitfield | ) edition.cnn.com time to read: +6 min

CNN —What is perhaps most striking about the 32 photographs that make up Jack Lueders-Booth’s new book, “Women Prisoner Polaroids,” is the intimacy that occupies each frame. For that reason, (when I was there) the inmates wore domestic clothes and prison guards were also un-uniformed. I was doing photography for them, making portraits for their annual reports, and sometimes processing family photographs,” said Lueders-Booth. “Over the years, my photographs were appearing on their walls as part of their photo collections, which was very rewarding. While it is true, other things are true, and many other things are perhaps more true.”

Persons: Jack Lueders, Polaroids, Mick Jagger, “ Miriam Van Waters, “, ”, Booth, Van Waters, ‘, Laura — “, —, I’d, Lueders Organizations: CNN, Correctional Institute Framingham, Northeastern University, Harvard’s Graduate School of Education, MCI, Framingham, Lueders Locations: Massachusetts, Booth, serendipitous, Framingham

Millions around the world caught a glimpse of the North Korean men’s team in two World Cups. The secrecy surrounding the North Korean national team was also evident in the case of star player Han Kwang Song. Carl Recine/Action Images/ReutersEarning respectWhen An joined the North Korean national team upon receiving a call-up letter in 2002, he remembers not being immediately accepted by teammates. To be accepted by the squad, newcomer An had to prove himself to the other North Korean players. Although, as fate would have it, An met his former teammate and current manager of the North Korean national team, Sin Yong Nam, last March.

Persons: –, Yong Hak, Han Kwang, Han, “, ”, Yong, Son Heung, Pak Kwang, Choe, I’ll, ” Han, Yong Nam, ‘ It’s, ’ ”, “ Han’s, ‘, …, Kim Jong Hun, Jong Tae, Philip Fong, Kim, Jong Tae Se, Carl Recine, didn’t, Sin Yong Nam, Sin Organizations: CNN, Korean men’s, CNN Sport, North, Korean, Juventus, Qatari, Al, UN, North Korean, –, SC, Cagliari, South, Tottenham Hotspur, Radio Free Asia, Tokyo's, Getty, Portugal, DPRK, Thailand Locations: North Korea’s, East, Italy, Middlesbrough, England, South Africa, Portugal, North Korean, Japan, Qatar, North Korea, Myanmar, China, Pyongyang, South Korea, Austria, Tokyo, DPRK, Brazil, Ivory Coast, Korean, AFP, Korea

☆ TikToker Miranda Derrick says she has received death threats over 'Dancing for the Devil'
▼ + stars: | 2024-06-11 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +3 min

Read previewTikTok dancer Miranda Derrick said she and her husband, James Derrick, have been sent death threats as a result of Netflix's "Dancing for the Devil: The 7M TikTok Cult." The controversy surrounding Derrick and Shekinah Church was originally brought to public attention when Derrick's sister, Melanie Wilking, made a viral video in 2021 claiming she lost touch with Derrick due to the church. AdvertisementShinn and Shekinah Church were placed under more scrutiny after the docuseries was released on May 29, and it rocketed straight to the top of Netflix's most-watched list. In a video posted to Instagram on Monday, Derrick said that some viewers have started sending her death threats because "Dancing for the Devil" depicted the couple negatively. In the documentary, Derrick's sister and parents claim that she abandoned them because of the church.

Persons: —, Miranda Derrick, James Derrick, Robert Shinn, Derrick, Derrick's, Melanie Wilking, Shinn Organizations: Service, 7M Films Inc, Business, Shekinah Locations: Shekinah

☆ Collectible toy market: This vintage action figure set a record at auction
▼ + stars: | 2024-06-10 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +11 min

The Rocket-Firing Boba Fett action figure, modeled after the “Star Wars” bounty hunter, was purchased in Dallas by an anonymous buyer for $525,000, Heritage Auctions announced last Monday. Dolls are for girls, action figures are for boysUnlike fine art or sports memorabilia, the collectible action figure market is only a handful of decades old because action figures have only been around since the mid-1960s. “The first action figure was G.I. He recounted how Hasbro executive Don Levine coined the term “action figure” as a marketing tool, because “we can’t call these dolls. Caravoulias recalls laying in bed as a kid in 1985 and wishing he could buy a $5 Rambo II action figure.

Persons: Boba, Barbie, ”, Justin Caravoulias, Joe, Boba Fett, Fett, Kenner, Brian Rachfal, “, Don Levine, ’, “ Nobody, Caravoulias, Price, Tom Derby, Darth Vader, It’s, Rambo, Rachfal, —, Paul Arnold, Arnold, Gary C, Knapp, they’re, ” Caravoulias, Circana, ” “ Barbie, ” James Zahn Organizations: New, New York CNN, “, Heritage Auctions, Heritage, Kenner, Hasbro, CNN, Derby, ‘ Power Rangers Locations: New York, United States, Dallas, American, Virginia Beach, Va

☆ A man tried to set up Pakistan's first gay club. He was put in a mental hospital.
▼ + stars: | 2024-06-10 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

Read previewA man who tried to establish Pakistan's first gay club was detained in a mental hospital by local authorities, according to The Telegraph. The Telegraph reported that the application for the proposed club said it was going to be called "Lorenzo gay club," and there would be "no gay (or non-gay) sex (other than kissing"). His friends told The Telegraph that they had been barred from visiting him, and were concerned for his safety. AdvertisementBefore being detained, the applicant told the newspaper: "I talk about human rights, and I want everyone's human rights to be defended." He also told the newspaper that if authorities refused the application, he would take it to court.

Persons: —, Osama bin, Laden, Lorenzo Organizations: Service, The Telegraph, Business, Telegraph, Awami, British, Sarhad, Psychiatric Locations: Abbottabad, Pakistan, Peshawar

☆ How Fizz, an anonymous messaging app for Gen Z, tore a high school apart
▼ + stars: | 2024-06-09 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +4 min

The app became available to the 1,300 students at Champlain Valley Union High School this May. AdvertisementWhen Champlain Valley Union High School students downloaded the app, the messages were initially innocuous. AdvertisementSolomon told the Journal that the Champlain Valley Union High School incident was an anomaly. "To confirm, we suspended the Champlain Valley Union Fizz community after working directly with school administrators," the statement read. AdvertisementA Champlain Valley Union High School representative did not respond to a request for comment from Business Insider.

Persons: —, Lio Miller, Miller, Ashton Cofer, Teddy Solomon, Oliver Hardt, Adam Bunting, Bunting, MANDEL NGAN, Yik Yak, Solomon, Gen Z Organizations: Service, Champlain Valley Union High School, Wall Street, Business, Stanford, Yik, McKinsey Health Institute, Champlain Valley Union High, Union High School Locations: Vermont, Champlain Valley, Champlain

☆ A Black photographer added himself to places where history didn’t want him
▼ + stars: | 2024-06-07 | by ( Thomas Page | ) edition.cnn.com time to read: +7 min

“Being There” came to life when Shulman noticed many of the slides contained an empty seat – presumably that the photographer had vacated to take the photo. Diop’s series “Diaspora” depicts Africans outside of Africa at different points in history (albeit with some contemporary – often soccer related – props). And in doing so, we forget how it’s easy not to make room for someone who’s different,” he added. “He’d been a student in Europe in the late ’50s, so he’d been sitting at these tables,” Diop added. We don’t know their politics, nor how they’d respond to Diop’s presence.

Persons: Guess, ” Sidney Poitier’s, they’re, – he’s Sidney Poitier, Omar Victor Diop, Lee Shulman, Diop, Shulman, Martin Parr, ”, “, Omar, ” Shulman, ” Diop, “ He’d, he’d, ” Omar Victor Diop Organizations: CNN, Senegalese, eBay, Paris Photo, White America, African, Textuel Locations: “, America, Africa, Europe, African, . Hood

☆ Saudi Arabia set to raise over $11.2 billion from Aramco stock sale, priced at lower end of range
▼ + stars: | 2024-06-07 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

Saudi Arabia is set to raise more than $11.2 billion from its secondary public share offering in state-controlled oil giant Aramco, after the stock was priced at the lower end of its expected range. The company on Friday said it will price the 1.545 billion of shares on offer at 27.25 Saudi riyal ($7.27) apiece, with the sale expected to take place when markets next open on Sunday. A range of between 26.70 and 29 Saudi riyals per share was floated in the firm's initial marketing. The 27.25 Saudi riyal price is nearly 4% below the public stock's last settlement on the Tadāwul Saudi stock exchange. Investors typically expect a discounted price when new shares enter the public market, because of the increase in the overall supply of stock available to trade.

Persons: Prince, Mohammed bin Salman Organizations: Saudi, Investors, of, Petroleum, Reuters, CNBC, Aramco, Exxon Mobil, Chevron, Aramco's, Public Investment Fund Locations: Saudi Arabia, Aramco, Saudi, Neom

☆ Judge who oversaw Trump hush money trial flags post on the court’s webpage claiming to know the verdict before it came down
▼ + stars: | 2024-06-07 | by ( Elizabeth Hartfield | ) edition.cnn.com time to read: +2 min

“My cousin is a juror and says Trump is getting convicted Thank you folks for all your hard work!!! It is not clear if there is any validity to the post. A search of the poster’s Facebook page showed the poster described themself as “a professional sh*t poster,” among other things. “As appropriate, the Court informed the parties once it learned of this online content,” Al Baker, a spokesperson for the court, said. The requested testimonies and instructions were read back to them the next morning.

Persons: Donald, Trump, “, Juan Merchan, ” Al Baker, Merchan, Elie Honig, ” Honig, Honig, David Pecker, Michael Cohen Organizations: CNN, New York, Unified, Systems, Facebook Locations: New York, Manhattan, York, rehear

☆ We're on track for a soft economic landing, but it still feels like the economy stinks
▼ + stars: | 2024-06-06 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at why the US economy is on track (again) for a soft economic landing . The big storyAnother economic turnaroundGetty Images; Chelsea Jia Feng/BIIt took longer than expected, but the US economy is finally on track for a soft landing. After a scary few months of economic data that had investors fearing a recession and stagflation, the tides have turned again. AdvertisementRecent data showing inflation and the labor market cooling have given hope that a soft landing is in the cards — and may even be underway — for the US economy, writes Business Insider's Madison Hoff. AdvertisementThe US economy is about to make a soft landing — a situation in which inflation cools without causing a recession or sudden spike in unemployment.

Persons: —, Chelsea Jia Feng, Insider's Madison Hoff, Arantza Pena Popo, bummed, it's, aren't, Johannes Eisele, Monica Schipper, Nordin Catic, Tyler Le Tim Cook, Cook, Jack Dorsey, Dorsey, Abanti Chowdhury, Sam Altman's, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, George Glover, Annie Smith Organizations: Service, shoplifters, Business, Fed, Johannes, Getty, OpenAI, Apple, BI, Street Journal, Comcast, New York Stock Exchange Locations: AFP, New York, London

☆ 'Going up against them is insane.' Brave startups are trying to usurp Nvidia's AI throne.
▼ + stars: | 2024-06-06 | by ( Alistair Barr | ) www.businessinsider.com time to read: +9 min

You could have invested a lot of money in AI chip startups several years ago. "Us going up against them is insane," said Thomas Sohmers, CEO of Positron AI, a chip startup that emerged from stealth a few months ago. "The model of AI chip startups needing to raise 10s to 100s of millions of dollars before they actually test product market fit is insane," he added. TigrisOpenAI's Altman may also be working on an AI chip startup of his own. So it stands to reason that Masa has been trying to raise money for an AI chip startup.

Persons: —, Graphcore, Thomas Sohmers, Nvidia Thomas Sohmers, Sohmers, Groq, Googlers, Puneet Kumar, Mark Hayter, Rivos, Andrew de los Reyes, Gavin Uberti, Chris Zhu, Nvidia's, OpenAI's Sam Altman, OpenAI's Altman, Altman, Masa, Softbank, Son Organizations: Service, Microsoft, Samsung, Business, Nvidia, MediaNews, Boston Herald, Getty, MIT, Google, Chrome, Matrix Capital, Intel, Harvard, Bloomberg News, Bloomberg Locations: Silicon Valley, Swiss, Groq, GroqWare, WeWork

☆ Jack Dorsey gave $10 million to an anonymous founder with a deep devotion to a fascist 'guru'
▼ + stars: | 2024-06-06 | by ( Katherine Long | ) www.businessinsider.com time to read: +6 min

"It's a truly open protocol. Advertisement"We don't know who the leader is, it's like this anonymous Brazilian," Dorsey said. It's not clear how much of the $10 million Dorsey gave to support the development of Nostr will make its way to Parra. Parra, as Fiatjaf, sits on a committee established by the organization to organize Nostr development efforts, Bitcoin Magazine reported. After an X user suggested to Dorsey that he help fund Nostr, Dorsey replied within 24 hours, "funding deployed to @fiatjaf."

Persons: —, Jack Dorsey, Dorsey, Nostr, Edward Snowden, Giovanni Torres Parra, Olavo de Carvalho, de Carvalho —, Parra, Olavo, Jair Bolsonaro's, Fiatjaf, It's, . Parra, Forbes Organizations: Service, Business, Pepsi, Forbes, Sats Initiative, Bitcoin Magazine, Austrian Locations: Brazilian, Virginia, Brazil, Dorsey

☆ Ukraine desperately wants more F-16 trainees since it's only getting 20 pilots to fly 85 warplanes: report
▼ + stars: | 2024-06-06 | by ( Matthew Loh | ) www.businessinsider.com time to read: +1 min

Ukraine wants to train another 30 pilots for the F-16s it's going to get, Politico reported. That means Ukraine will likely only have 20 pilots for the 85 F-16s it's receiving from Europe. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But the outlet reported, citing three anonymous sources familiar with the situation, that Ukraine's Western allies cannot train all the pilots Kyiv is asking for. Politico reported on Wednesday that Ukraine is expected to field about 20 F-16 pilots this year and is asking the US if it can train an additional 30.

Persons: — Organizations: Politico, Service, NATO, Business Locations: Ukraine, Arizona, Denmark, Romania, Europe

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