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☆ Elon Musk wants Tesla to be the biggest car company ever by 2030. Experts say there's no way.
  + stars: | 2023-02-18 | by ( Tim Levin | ) www.businessinsider.com   time to read: +5 min
Elon Musk wants Tesla to sell 20 million electric cars in 2030. Another lofty goal that the billionaire entrepreneur has kicked around: Sell at least 20 million Teslas in 2030, effectively transforming the young firm into the largest car manufacturer the world has ever seen. Last year, Tesla delivered a record 1.3 million cars, making it the leader in electric-vehicle sales. Indeed, if you ask Musk, Tesla isn't merely a carmaker, but rather a tech company that could soon be worth trillions more than Apple. Even if it managed to crank out 20 million cars, Musk's firm would still need to find buyers for them, which isn't a given.
☆ A Japanese conveyor-belt sushi chain will now be using AI-powered cameras to fight back against 'sushi terrorism': report
  + stars: | 2023-02-10 | by ( Felise Seah | ) www.businessinsider.com   time to read: +2 min
Conveyor-belt sushi chain Kura Sushi plans to crack down on food contamination by using AI-powered cameras. Insider's Aaron McDade reported last Friday that "sushi terrorism" has been plaguing Japan's conveyor belt restaurants. Kura Sushi, a conveyor belt sushi chain, said it's planning to deploy cameras powered by AI technology to track suspicious customer behavior, Nikkei Asia reported on Wednesday. Modifications are now underway which will help detect suspicious behavior and alert the restaurants' employees, the outlet reported. The sushi terror phenomenon gained momentum when a prank video taken at a Gifu city outpost of another sushi chain, Sushiro, went viral.
☆ Former Twitter execs tell Republicans they erred on Hunter Biden laptop story
  + stars: | 2023-02-08 | by ( David Morgan | ) www.reuters.com   time to read: +4 min
WASHINGTON, Feb 8 (Reuters) - Former Twitter executives told a Republican-led U.S. House committee on Wednesday that they made a mistake by blocking tweets about a laptop said to belong to President Joe Biden's son Hunter but said government officials were not involved. The committee's witnesses, three former Twitter executives, said in subpoenaed testimony that they mistakenly believed the Post article contained hacked material and reversed their decision to limit its circulation on the social media platform within 24 hours. "America witnessed a coordinated campaign by social media companies, mainstream news and the intelligence community to suppress and de-legitimize the existence of Hunter Biden's laptop and its contents," committee Chairman James Comer said at the outset of the proceedings. Hunter Biden's attorney Abbe Lowell has denied in a statement any connection between his client and what he called the "so-called laptop," including contents that Republicans "allege to be Mr. Biden's personal data." The Twitter executives also said company policy sought to mitigate content that could lead to political violence, such as what later occurred in the Jan. 6, 2021, attack on the U.S. Capitol by Trump's supporters.
☆ Tesla's stock is getting trounced by EV challenger Lucid, which is leading techs' 2023 rally thanks to Saudi takeover rumors
  + stars: | 2023-02-08 | by ( George Glover | ) www.businessinsider.com   time to read: +3 min
Shares in electric-vehicle manufacturer Lucid Motors have jumped 69% in 2023. Speculation of a takeover by Saudi Arabia's sovereign wealth fund has fueled Lucid's recent rally. Lucid is even beating rival EV manufacturer Tesla, which is up just under 60% so far this year at $196.81, despite analysts' fears. Lucid shares have also risen thanks to rumors of a looming takeover by Saudi Arabia's Public Investment Fund, which invests on behalf of the government and already owns over 60% of the carmaker. The stock jumped 43% on January 27 alone, after the deals website Betaville reported the Saudi PIF could be close to finalizing a full takeover.
☆ Here are Tuesday's biggest analyst calls: Apple, Disney, Meta, Alphabet, Tyson Foods, Target & more
  + stars: | 2023-02-07 | by ( Michael Bloom | ) www.cnbc.com   time to read: +5 min
Here are Tuesday's biggest calls on Wall Street: Citi reiterates Disney as buy Citi said it's bullish heading into Disney earnings Wednesday. Goldman Sachs downgrades Tyson Foods to neutral from buy Goldman downgraded the poultry company after its earnings report on Monday and said it sees cyclical headwinds for Tyson. Jefferies reiterates Target as buy Jefferies said it sees "comp sales upside" ahead for Target. Wells Fargo initiates iRhythm Technologies as overweight Wells initiated the digital health care cardio company and said it sees upside and share gains. Goldman Sachs reiterates Pinterest as buy Goldman said it's standing by shares of Pinterest after its earnings report on Monday.
☆ Biden to revisit 'billionaire minimum tax' in State of the Union address
  + stars: | 2023-02-07 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +2 min
Win Mcnamee | Getty ImagesPresident Joe Biden will again call for a "billionaire minimum tax" during his State of the Union address on Tuesday. However, Biden's original billionaire minimum tax didn't gain traction in Congress and it's even less likely to happen with a Republican-controlled House now, experts say. I view this billionaire minimum income tax as a messaging bill to highlight some of the problems with our tax code. "I don't see a lot of support for Biden's billionaire minimum tax on the Hill," Rosenthal said. Problems with the billionaire minimum taxEven with more support, Biden's billionaire minimum tax may face other hurdles, experts say.
☆ ChatGPT is coming for Wall Street next
  + stars: | 2023-02-06 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +5 min
Insider's Paige Hagy and Bianca Chan asked industry experts how they see a tool like ChatGPT impacting all areas of Wall Street, from investment banking to financial planning to consumer banking. So if your boss pitches you on using ChatGPT to help "streamline your workflow" understand that you could be training your replacement. Click here to read more about the types of jobs ChatGPT might upend across Wall Street. Wall Street trading firm GTS Securities is looking to make investing in music royalties accessible to the general public, Bloomberg reports. Stephanee Beggs made seven figures selling her study materials on TikTok and Etsy, which means she cleared more business than half the bankers on Wall Street.
☆ Boom in January jobs shows employers fear worker shortage more than recession
  + stars: | 2023-02-03 | by ( Patti Domm | In | ) www.cnbc.com   time to read: +5 min
January's super strong jobs report underscores that employers are more worried about not having enough workers than they are about a slowing economy. But Zandi notes that of all the components of the jobs report, the one that matters most to the Fed is average hourly wages, and they have been coming down. It's just really strong," said Tom Simons, money market economist at Jefferies. The strong report means interest rates will continue to rise, and the Federal Reserve will raise benchmark overnight lending rates by another quarter point in March. ISM Services data Friday reinforced some of the strength in the jobs report.
☆ America's biggest wealth manager told us 4 simple steps young people can start taking to hit their financial goals — and explains why they shouldn't panic about failing right now
  + stars: | 2023-02-03 | by ( Marley Jay | ) www.businessinsider.com   time to read: +4 min
He told Insider how students and young workers today can set themselves up for financial freedom. He says that aside from a difficult housing market, young people have a great financial setup. A lot has been made about the financial difficulties younger people are facing right now. Here are the 4 steps that he says young people should do right now to set themselves up for financial success in the future. "Take the rest and save it, because when you're young that investing makes a big difference."
☆ 'Greenwashing' is a good thing, according to one renewable energy tycoon
  + stars: | 2023-02-02 | by ( Anmar Frangoul | ) www.cnbc.com   time to read: +1 min
Greenwashing should be seen as a positive sign that companies are moving in the right direction, according to the founder of British energy firm Ecotricity. "But you know, I take it as a good thing. People say to me, 'oh, there's greenwashing, it's a bad thing'." "And I say, do you know what, it's not a bad thing because 10 years ago, these companies that are greenwashing today, didn't care, right?" I say that's progress.
☆ Generative AI is coming for the classroom, whether teachers like it or not. Here's why many in education think it should be embraced rather than shunned.
  + stars: | 2023-01-31 | by ( Madeline Renbarger | ) www.businessinsider.com   time to read: +7 min
Fears of generative AI helping students cheat are rampant, and some school districts are banning it. Instead, educators should think about how generative AI can be used as a classroom learning tool. Insider spoke with multiple AI researchers and academics, startup founders, and education-nonprofit leaders to learn how they're approaching generative AI in the classroom. If used effectively, generative AI tools like ChatGPT can help students develop critical-thinking and problem-solving skills, which are crucial learning outcomes for most teachers. That way, students are actively engaged and wouldn't be able to use generative AI to complete a full assignment, he said.
☆ Snapchat has a plan to start charging users to restore broken Snapstreaks
  + stars: | 2023-01-31 | by ( Kali Hays | ) www.businessinsider.com   time to read: +3 min
Some users have hundreds, or even thousands, of consecutive days of Snaps with friends on the app. The company is planning to have Snapchat users pay a fee to restore a broken Snapstreak, according to two people familiar with the situation. Many users have Streaks going for more than 100 days and some have streaks for thousands of days. Users frequently go to the Snapchat Support website to try to get their Streaks restored, both of the people said. Snap often does restore a streak at no cost, but it's a process that can take several days, further upsetting users.
☆ Childcare is unaffordable almost everywhere across the country — and where it's even pricier, fewer women are employed
  + stars: | 2023-01-30 | by ( Juliana Kaplan | Jason Lalljee | Madison Hoff | ) www.businessinsider.com   time to read: +7 min
The issue brief stated that a "10% increase in median childcare prices was associated with 1 percentage-point lower county-level maternal employment rates." "High childcare prices and minimal public childcare investments are especially detrimental to employment among mothers with lower wages, as childcare affordability is out of reach," the researchers wrote. Childcare costs have outpaced inflation during the pandemic, according to one recent report, and the lion's share of childcare duties have fallen on women during the pandemic, causing them to leave the workforce en masse. Childcare workers made a mean hourly wage of $13.31 as of 2021, with the bottom 10% earning about $9 an hour. That's as childcare workers are more than twice as likely to live below the poverty line as those in other industries.
☆ Russia was making big plans for Ukraine's nuclear power plants before its invasion fell apart
  + stars: | 2023-01-29 | by ( Stavros Atlamazoglou | ) www.businessinsider.com   time to read: +6 min
Those plans depended in part on seizing Ukraine's nuclear power plants and using them for leverage. Dmytro Smolyenko/Future Publishing via Getty ImagesAccording to the RUSI report, Russia's war plans viewed Ukraine's nuclear power plants as a means to achieve Moscow's larger aims. The Kremlin's plan envisioned three uses for the Ukrainian nuclear power facilities once the invasion was underway. Moscow also incorporated Ukraine's nuclear power facilities into its information operations. Fighting in a nuclear plantThe Zaporizhzhia nuclear power plant on August 29.
☆ I stayed in a 300-square-foot tiny home in Nashville, one of the most popular Airbnbs: Here’s why I’d do it all over again
  + stars: | 2023-01-28 | by ( Celia Fernandez | ) www.cnbc.com   time to read: +5 min
To make our trip to Nashville more special, I decided to look for an alternative experience and that's how I found the Nashville Tiny Home. When we arrived, it became pretty clear why the rental was named the most popular Airbnb in Tennessee in 2019. The Nashville Tiny Home was named the most popular Airbnb in Tennessee in 2019. "We like to say that it's a guesthouse situated in our woodland-inspired gardens in the heart of Nashville," Jonathan says. Chris MoodyIn the six years that the Moody's have had the tiny home, they say the experience has been overwhelmingly positive.
☆ Spaceport boss says it's challenging being a successful woman in the space industry as some people exclude her from conversations
  + stars: | 2023-01-28 | by ( Kate Duffy | ) www.businessinsider.com   time to read: +3 min
Melissa Thorpe, a Spaceport boss, spoke about the criticism she gets as a woman in the space sector. The space industry is male-dominated, but Thorpe said she's questioning how things are done. Thorpe said she didn't get into the space industry in the traditional way. One out of 5 space industry workers are womenThorpe's seven-day job not only involves running the spaceport, but also going to conferences, traveling, and meeting with clients in different time zones. The United Nations reported in October 2021 that around one in five workers in the space industry are women.
☆ Tesla’s bounce on quarterly results can teach us something about mega-cap growth names
  + stars: | 2023-01-26 | by ( Michael Santoli | ) www.cnbc.com   time to read: +3 min
This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics. The fact that the economy has not buckled in time to quickly redeem the faith of high-conviction bears has helped drive a tentatively reassuring cyclical rebound within the market. Consumer discretionary has been trouncing staples by 15 percentage points since the middle of last year. Certain elements of bull market behavior have clicked into place: The rally has been broad. With personal consumption expenditures inflation and the Fed meeting ahead, we'll see if holding-pattern action takes hold.
☆ Djokovic romps on towards 10th Australian title, Linette stuns Pliskova
  + stars: | 2023-01-25 | by ( Shrivathsa Sridhar | ) www.reuters.com   time to read: +5 min
Djokovic is making a mockery of the theory that the second week of Grand Slam tournaments get tougher. Fifth seed Rublev has now lost all seven Grand Slam quarter-finals which he contested. "I'm really excited, man. So I'm really grateful." Linette had no problems serving out her quarter-final against twice Grand Slam finalist Pliskova, whose 36 unforced errors sabotaged yet another bid to win a first major.
☆ I plan a Brit Awards after-party attended by celebrities like Katy Perry and Lorde. Here's what goes into organizing an event for the stars.
  + stars: | 2023-01-25 | by ( Lola Christina Alao | ) www.businessinsider.com   time to read: +5 min
Claire Haffenden is the director of artist relations and events at Universal Music. That planning experience helped me in my current role, director of artist relations and events at Universal Music, where I lead a team of five. I became head of artist relations and events in 2008 and director of artist relations and events in 2013. Claire Haffenden, the director of artist relations and events at Universal Music. I make sure every artist's team has an allocation of guest tickets, for the artist's family, friends, and contacts.
☆ There's a 61% chance of recession this year, economists say—what that means for your money
  + stars: | 2023-01-23 | by ( Ryan Ermey | ) www.cnbc.com   time to read: +2 min
Stop us if you've heard this one before: A lot of people think the economy may be headed for a recession. It's everywhere: A recent poll of economists from the Wall Street Journal pegged the recession chances in 2023 at 61%. Even 96-year-old former Federal Reserve Chairman Alan Greenspan has weighed in, saying that a recession is "the most likely outcome" given the current economic trajectory. A short, shallow recession may be priced into marketsEconomists aren't the only ones who have recession on the brain. Overall, investors and economists alike expect a "fairly mild kind of recession, " says Sam Stovall, chief investment strategist at CFRA.
☆ Google CEO defends job cuts in animated town hall as employees demand clarity on process
  + stars: | 2023-01-23 | by ( Jennifer Elias | ) www.cnbc.com   time to read: +8 min
Google CEO Sundar Pichai led the companywide meeting and told employees that executives will see their bonuses cut. "I understand you are worried about what comes next for your work," Pichai said. Prior to the job cuts, Google had made the decision to pay out 80% of bonuses this month with the rest expected in March or April. Thomas Kurian, the CEO of Google Cloud, offered some perspective on the areas that saw cuts. Last month, Google employees asked executives at an all-hands meeting whether the AI chatbot ChatGPT represents a "missed opportunity" for Google."
☆ 'Bear markets end with outright disgust': Top investor Peter Boockvar warns that a third leg of the sell-off is coming as investors remain too optimistic about corporate earnings and a Fed pivot
  + stars: | 2023-01-21 | by ( William Edwards | ) www.businessinsider.com   time to read: +5 min
But as the Fed has continued to ratchet up interest rates, good economic news has again become good news to the market. But market participants shouldn't be too optimistic that a true bottom to the bear market is in, according to Peter Boockvar. "The third phase of the bear market is everyone throws in the towel, and no one wants to own a stock again," he told Wealthion. Bear markets end with outright disgust." Goldman Sach's David Kostin, who is more bullish than Wilson in the near-term, assuming a recession doesn't play out, also thinks earnings expectations are too high.
☆ Salary Transparency Is Coming — so I Decided to Tell Everyone What I Make
  + stars: | 2023-01-16 | by ( Aki Ito | ) www.businessinsider.com   time to read: +37 min
But there's a glaring catch to my support for pay transparency: I haven't actually practiced it in my own life. To find out why, I decided to commemorate the dawning age of salary transparency by telling pretty much everyone in my life what I earn. Norway responded to pay transparency with yet another level of transparency, and that brought down the level of snooping.. Thanks to its nationwide experiment, Norway has been fertile ground for scholars trying to measure the consequences of extreme pay transparency. But I do believe that as more states implement pay-disclosure laws — and as Gen Z increasingly comes to dominate the workforce — salary transparency is going to become the new norm.
☆ Andretti's Dennis dominates Formula E's first Gen3 race
  + stars: | 2023-01-14 | by ( ) www.reuters.com   time to read: +1 min
MEXICO CITY, Jan 14 (Reuters) - Britain's Jake Dennis won the first race of electric Formula E's Gen3 era on Saturday with a dominant drive for the Porsche-powered Avalanche Andretti team in Mexico City. The race had three safety car periods and Dennis also set the fastest lap. "To win by that margin, start on the front row and get Porsche a one-two is absolutely incredible," said the Briton. "It was such a physical race, these cars are so hard to drive physically and with the lower grip as well it just makes everything so challenging. Abt's Dutch driver Robon Frijns suffered a broken left wrist after a first lap impact and will have surgery in Mexico, his team said.
☆ Exclusive: Rocket CEO: Housing isn't a buyer's or a seller's market. Now it's even
  + stars: | 2023-01-13 | by ( Matt Egan | ) edition.cnn.com   time to read: +4 min
Jay Farner, who presides over America’s largest mortgage lender Rocket Mortgage, says the days of sellers holding all the power are over. Buyers can take a bit more time,” Farner, the CEO of Rocket Companies, told CNN in an exclusive interview. But the Rocket CEO isn’t prepared to declare this a buyer’s market, at least not yet, because inventories remain historically low. The Rocket CEO is less optimistic about the direction of the overall economy. Asked if he’s worried about a major debt ceiling crisis, Farner pointed to history as a guide.
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