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☆ Barry Diller says Trump Media is 'a scam' and people buying shares are 'dopes'
▼ + stars: | 2024-04-04 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +1 min

Barry Diller thinks that shareholders of Truth Social's owner have been scammed. The IAC chairman pointed to Trump Media's low revenue and said he doubts Truth Social will grow. Shares for Trump Media and Technology Group initially surged after going public, but have since tumbled. AdvertisementBarry Diller has a message for Trump Media shareholders: "I think they're dopes." But that moment in the sun was short-lived, and shares of the former president's social media platform have since come crashing down to earth.

Persons: Barry Diller, — Organizations: Truth, IAC, Trump, Trump Media, Technology Group, Service, Business

☆ General Electric's 132-year journey from American manufacturing icon to fallen giant
▼ + stars: | 2024-04-04 | by ( Dominick Reuter | Camilo Fonseca | ) www.businessinsider.com time to read: +1 min

General Electric was an icon of American innovation and manufacturing for most of its history. The company reached its peak in 2000, but had a rocky journey entering the 21st century. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOver the course of the 20th century, General Electric grew into a powerhouse — literally — of American industry. This story is available exclusively to Business Insider subscribers.

Persons: —, Thomas Edison Organizations: GE, Service, Electric, Business

☆ Mark Cuban says pushing back against Elon Musk on X is fun: 'I have no problem sharing my opinion'
▼ + stars: | 2024-04-02 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +1 min

Mark Cuban says he enjoys his online sparring matches with Elon Musk. Cuban told podcaster Lex Fridman that he likes pushing back on Musk's platform. AdvertisementMark Cuban is having fun prodding Elon Musk. And Cuban says he enjoys poking the bear — even if his discussions about DEI with the tech mogul aren't always fruitful. He just comes back with snark comments," Cuban said in an interview on the Lex Fridman Podcast.

Persons: Mark Cuban, Elon Musk, podcaster Lex Fridman, —, Musk, aren't, Lex Fridman Organizations: Elon, Service, Business

☆ Watch the crazy AI short films and videos created by artists with early access to OpenAI's Sora tool
▼ + stars: | 2024-03-26 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +1 min

OpenAI has released the first third-party videos produced with its unreleased Sora tool. The new clips include a bizarre nature documentary and the story of a man with a balloon for a head. The AI videos are impressive, but one former Stability AI exec accused OpenAI of "artistwashing." AdvertisementThe first artist-produced videos from OpenAI's Sora are here, and they give a glimpse at what Hollywood or other storytellers could create with the text-to-speech AI tool. This story is available exclusively to Business Insider subscribers.

Persons: OpenAI, —, OpenAI's Sora Organizations: Service, Hollywood, Business Locations: Hollywood

☆ Surge pricing is coming to theme parks
▼ + stars: | 2024-03-25 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +1 min

Theme parks are the latest industry to implement a form of surge pricing. Merlin Entertainments, which owns Legoland and Madame Tussauds, plans to start "dynamic pricing" at its top attractions. Wendy's drew backlash and quickly walked back its announcement about exploring dynamic pricing. Visitors to certain Legoland locations will soon start experiencing surge pricing — or "dynamic pricing," as the CEO of the company that owns the parks calls it — based on fluctuating demand. This story is available exclusively to Business Insider subscribers.

Persons: Madame Tussauds, Wendy's, — Organizations: Merlin Entertainments, Service, Business, Merlin, Financial Times Locations: Legoland

☆ Here's how long the Apple vs. DOJ battle could last
▼ + stars: | 2024-03-22 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +1 min

The DOJ's antitrust lawsuit against Apple could take years to reach a conclusion. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Apple says the lawsuit gets the facts and the law wrong and plans to vigorously defend itself. That legal process, one analyst group predicts, could stretch out years in a worst-case scenario for Apple — but a settlement is more likely. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Apple, Service, Business

☆ Don't watch local TV stations? DirecTV will shave $12 off your monthly bill if you drop them
▼ + stars: | 2024-03-18 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +4 min

Shifting some primetime entertainment to streaming services has made local stations less attractive, DirecTV said. DirecTV recently resolved a dispute with Cox Media Group, which owns several local stations. The satellite television provider on Sunday announced a package allowing customers to "opt out" of local stations. "That trend continues to diminish the quantity and quality of scripted entertainment on these same local stations." In February, DirecTV resolved its dispute with Cox Media Group, a conglomerate that owns several local television stations in markets across the country.

Persons: —, Rob Thun, Cox Organizations: DirecTV, Cox Media Group, Service, Sunday, Consumers, ESPN, Fox, Warner Bros, NBC, ABC, CBS, DIRECTV Locations: Thun

☆ Festival crowd boos at video of conference speakers gushing about how great AI is
▼ + stars: | 2024-03-14 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +4 min

Video emerged on social media of the audience loudly booing a conference sizzle reel that featured several industry leaders speaking positively about AI. The sizzle reel played before several film premieres at the festival, including "The Fall Guy" and "Immaculate," Variety reported. In a statement to BI, Carter said her SXSW panel on the future of AI was "a standout event." AdvertisementThe other panelists shown in the sizzle reel did not return requests for comment before publication. The growing impact of AI is a concern felt across the film industry.

Persons: —, Guy, Peter Deng, OpenAI, Sandy Carter, didn't, 46OXfiIk0r — Marcelo, Rony Abovitz, Magic, Abovitz, OpenAI's Peter Deng, Carter, Variety, Ashley Landis, Sora, Tyler Perry, Armour Organizations: Service, SXSW, Business, Sun Locations: South, Southwest

☆ A safety group graded 14 driver-assistance systems. Tesla's self-driving option was the worst.
▼ + stars: | 2024-03-12 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +4 min

Automated driving systems are lacking in the safety department, according to a new report. Tesla's Full Self Driving system earned the worst marks, but most of the 14 systems tested poorly. Some say that autonomous and assisted driving systems are responsible for fatal crashes. AdvertisementYou may want to think twice before flipping on your autonomous driving system on the highway. The agency tested 14 systems, 11 of which received a "poor" overall safety rating.

Persons: —, David Harkey, Tesla, Ford Organizations: Service, Insurance Institute for Highway Safety, National, Traffic Safety Administration, CNN, Ford, Mercedes, Benz, Nissan, General Motors, Insurance, Google Locations: California, Los Angeles, San Francisco

☆ Trump confirms he met with Elon Musk, but they disagree about electric cars
▼ + stars: | 2024-03-11 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +4 min

Donald Trump doesn't see eye-to-eye with Elon Musk on electric vehicles. Trump confirmed he met with Musk but said he doesn't know if he'll get his support. AdvertisementDonald Trump may be courting Elon Musk for potential campaign support, but don't expect the former president to change his messaging on EVs anytime soon. Trump met with Musk in Palm Beach, Florida, last week, as he looks to boost donations to his presidential campaign. During the Trump administration, Musk served on two presidential advisory councils but left after Trump elected to withdraw the US from the Paris Climate Accords.

Persons: Donald Trump, Elon Musk, Trump, Musk, he'll, —, CNBC's SquawkBox, Biden, Tesla, Biden's Organizations: Biden, Service, Lunacy, Trump, Paris Climate, EV, Trump hasn't, White, Monday, United Auto Workers Locations: China, Palm Beach , Florida, Paris

☆ How the Canadian mortgage model could help unfreeze the housing market
▼ + stars: | 2024-03-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

Read previewCopying the way mortgages work in countries such as Canada and the UK could help thaw the frozen US housing market, experts say. Prospective buyers are also balking at paying such high mortgage rates, especially when national home prices are near record levels, fueling an affordability crisis. AdvertisementOffering portable mortgages would enable hesitant sellers to keep their rock-bottom mortgage rates when they move, potentially boosting overall inventory and transaction volumes. She suggested the best fix for the frozen housing market will be if inflation cools, the Fed cuts interest rates, and mortgage rates fall to historical norms. Fannie Mae and Freddie Mac, the government-sponsored enterprises that direct the mortgage market, would have to be on board to make mortgage portability a reality, but that doesn't appear to be the case.

Persons: —, Julia Fonseca, Fonseca, Richard Martin, University of Georgia's Terry, Susan Wachter, Wachter, Fannie Mae, Freddie Mac Organizations: Service, Business, University of Illinois, University of Georgia's, University of Georgia's Terry College of Business, The Wharton School, Federal Reserve, Federal Housing Finance Agency, American Banker Locations: Canada, University of Illinois Urbana, Champaign, conservatorship

☆ Rivian pulled off a Steve Jobs moment with its surprise announcements
▼ + stars: | 2024-03-08 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +2 min

Rivian's "one more thing" was a nod to Steve Jobs' habit of teasing a last product reveal at events. Scaringe stunned his audience with the reveal of the R3 midsize crossover, catching the audience by surprise. That comment — and perhaps the whole surprise reveal — was a thinly veiled reference to Apple cofounder Steve Jobs' habit of making last-minute product announcements, introducing "one more thing" after seemingly finishing his keynote speech. AdvertisementBut the R3 wasn't the only surprise that Scaringe had up his sleeve, who added that "there's one more thing." The Rivian R3X performance variant Elliot Ross Studio, INCWith his double-surprise reveal, Scaringe seems to have taken Jobs' penchant for theatricality to heart.

Persons: RJ Scaringe, Steve Jobs, Scaringe, —, Rivian, Tim Cook's, Elliot Ross Organizations: Service, Apple, Apple Watch, Air, MacBook, Elliot Ross Studio, INC

☆ Opinion: Biden gave the speech of his life
▼ + stars: | 2024-03-08 | by ( Opinion Cnn Contributors | ) edition.cnn.com time to read: +29 min

CNN —CNN Opinion asked political and policy contributors to weigh in on President Joe Biden’s State of the Union address. David Gergen: Biden just rewrote the presidential racePresident Joe Biden not only delivered perhaps the best speech of his life last night; he may have also changed the race itself. Roxanne Jones: Biden finally sounds like he’s ready to fightPresident Joe Biden finally has my attention. At the end of his speech, Biden reminded voters that he “grew up among working people” in Scranton. In his State of the Union speech, Biden had to answer the mail on all of these.

Persons: Joe Biden’s, David Gergen, Biden, Joe Biden, —, Carrie Sheffield, Carrie Sheffield Barry Morgenstein, Donald Trump’s, pandered, Sophia A, Nelson, Trump, Sen, Andrew, ”, Donald Trump, Harris, Daniel McCarthy, Trump President Joe Biden, Daniel McCarthy Biden, Ronald Reagan, Bill Clinton, wasn’t, he’s, haven’t, Cori Bush, Rashida Tlaib, Bernie Sanders, Nikki Haley, Trump couldn’t, Reagan, Roxanne Jones, ” Biden, Smart, Jill Filipovic, Mike Johnson, David A, Vladimir Putin, Putin, ” David A, Benjamin Netanyahu, “, SubStack’s, Paul Sracic, It’s, White, Paul Sracic Arne Hoel It’s, Hillary Clinton, Joe, ” Paul Sracic, Raul A, Reyes, ” Raul A, Marjorie Taylor Greene’s, Laken Riley, Mark Zandi, Mark Zandi Moody's, Ana Marie Cox, Ana Marie Cox Faith Fonseca, Biden’s, Dobbs, Roe, Wade, Peter Bergen, George W, Bush, Vladimir Putin’s, –, beefed, Gazans Organizations: CNN, David Gergen CNN, Union, Harvard Kennedy School, Gallup, NATO, Democratic, Republicans, Trump, Independent Women’s, United States Senate, Biden, Congressional, Trump President, South Carolina Gov, GOP, Republican, Conservative, The Spectator, Syndicate, Big Pharma, Companies, American, Democrats, Twitter, NATO —, Israel, New York Times, CBS News, Democratic Party, United Auto Workers, Youngstown State University, Hudson Institute, Reyes CNN, Border Patrol, Georgia, ” Progressives, Pew Research Center, White, USA, Moody’s Analytics, Ana Marie Cox Faith, Jackson, Peter Bergen CNN, US Senate, New, Arizona State University Locations: Joe Biden’s State, America, United States, State, Gaza, Israel, New York, Ukraine, ”, American, China, Iran, Europe, Asia, Chicago, Scranton , Pennsylvania, Belvidere , Illinois, Scranton, Claymont , Delaware, Delaware, Ohio, Washington , DC, Georgia, Alabama, Austin, Iraq, New America

☆ There's one signature on OpenAI's clapback against Elon Musk that people are buzzing about
▼ + stars: | 2024-03-06 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +4 min

Ilya Sutskever, chief scientist at OpenAI, signed the company's response to a lawsuit brought by Elon Musk. After Altman's return, Sutskever was removed from OpenAI's board, with his future at the company uncertain. AdvertisementAfter OpenAI's board fired Altman, Musk defended Sutskever on X , writing, "Ilya has a good moral compass and does not seek power. Sutskever figures prominently in OpenAI's response to the Musk lawsuit, which includes several email exchanges between Musk, Sutskever, Altman, and Greg Brockman, another OpenAI cofounder. Given Sutskever's role in drafting OpenAI's response to the lawsuit, it is unlikely that Musk's offer of employment still stands.

Persons: Ilya Sutskever, Elon Musk, Sutskever, Sam Altman's, —, Elon, Sam Altman, Altman, Ilya, Altman's, OpenAI, Musk, Greg Brockman Organizations: Service, Microsoft Locations: OpenAI

☆ Winter is coming for 'Game of Thrones' freeloaders thanks to Max's password-sharing crackdown
▼ + stars: | 2024-03-05 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +2 min

Read previewThe days of watching "Game of Thrones" for free on your brother-in-law's Max account are numbered. Max is the latest streaming service to announce a crackdown on password-sharing. AdvertisementHe specifically referenced Netflix's password-sharing crackdown as one that had been "extremely" successful. Following Netflix's lead, Disney+, Hulu, and ESPN+ (all owned by Disney) also said earlier this year that they would limit password-sharing. Max accounted for a scant 1.3% of streaming viewing in January, behind YouTube, Netflix, Disney+, and others, according to Nielsen.

Persons: —, Max, Perrette, Morgan Stanley, Nielsen Organizations: Service, Bloomberg, Warner Bros, Netflix, Hulu, Disney, Business, Discovery, Morgan, Morgan Stanley Technology, Media & Telecom Conference, ESPN, Max, YouTube, HBO Locations: Hulu

☆ Bugatti CEO responds to Elon Musk's claim that the Tesla Roadster will be able to do 0 to 60 mph in under a second
▼ + stars: | 2024-03-04 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +3 min

Read previewElon Musk's ambitious new promises for the long-awaited Tesla Roadster have raised eyebrows — including the Bugatti CEO's. Last week, Musk announced on X, formerly Twitter, that Tesla had "radically increased the design goals for the new Tesla Roadster." Those numbers, while eye-popping, are feasible, Mate Rimac, the CEO of Bugatti Rimac, said. Previously, the Tesla Roadster was billed as reaching 60 mph in 1.9 seconds, a figure that's still up on Tesla's website. "I think it has a shot at being the most mind-blowing product demo of all time," he added on X.AdvertisementIt's not the first time the Tesla CEO has made big promises.

Persons: —, Elon, Musk, Tesla, Rimac, Bugatti Rimac Organizations: Service, Tesla, Bugatti, Business Locations: Croatian

☆ Bugatti CEO responds to Elon Musk's claim that Tesla Roadster will be able to do 0-60 mph in under a second
▼ + stars: | 2024-03-04 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +3 min

The new Tesla Roadster will be able to go from 0-60 mph in record time, according to Elon Musk. AdvertisementElon Musk's ambitious new promises for the long-awaited Tesla Roadster have raised eyebrows — including Bugatti's CEO's. Last week, Musk announced on X, formerly Twitter, that Tesla had "radically increased the design goals for the new Tesla Roadster." Those numbers, while eye-popping, are technically feasible, according to Mate Rimac, CEO of Bugatti Rimac. AdvertisementIt's not the first time the Tesla CEO has made big promises.

Persons: Elon Musk, Mate Rimac, Nevera, —, Elon, Bugatti's CEO's, Musk, Tesla, Rimac Organizations: Tesla, Service, Bugatti Locations: Croatian

☆ Elon Musk welcomes competition from humanoid robot rivals: 'Bring it on'
▼ + stars: | 2024-03-01 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +1 min

Elon Musk isn't fazed by a humanoid robot startup's newly announced collaboration with OpenAI. Musk is also making a humanoid robot, Optimus, through Tesla. "Bring it on," Musk posted in response to Figure AI cofounder Brett Adcock's Thursday announcement of a collaboration with OpenAI to develop AI-powered machines. The comment was a tacit acknowledgment that Figure and OpenAI are rivals to the Tesla CEO's own AI ambitions. Musk unveiled tech startup xAI last year, which debuted AI chatbot Grok last November.

Persons: Elon, OpenAI, —, they're, Musk, Brett Adcock's, Tesla, chatbot Grok Organizations: Tesla, Service, Business

☆ Elon Musk makes it known he hasn't been to therapy
▼ + stars: | 2024-02-29 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +1 min

Elon Musk has repeatedly said that his gravestone will read "Never Went to Therapy." Despite rejecting therapy, Musk has candidly spoken about his own mental health in the past. The billionaire Tesla cofounder wrote in a post on X, formerly Twitter, on Wednesday: "Put 'Never Went to Therapy' on my gravestone." It's not the first time Musk has brushed off therapy — or discussed his hypothetical grave marker. This story is available exclusively to Business Insider subscribers.

Persons: Elon Musk, Musk, —, Elon, Tesla, It's Organizations: Service, SpaceX, Business

☆ An infamous hacking group is reportedly behind the cyberattack that has left US pharmacies reeling
▼ + stars: | 2024-02-27 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +3 min

A high-profile ransomware gang is responsible for the outage that has paralyzed US pharmacies, Reuters reported. Blackcat is behind the attack on UnitedHealth Group's claims management arm last week, per the report. The outage at Chain Healthcare, the payment management arm of healthcare giant UnitedHealth Group, was caused by a ransomware attack by hackers affiliated with Blackcat, Reuters reported, citing two unnamed sources. AdvertisementLast week's attack on Change Healthcare forced its parent company to disconnect its own systems "to prevent further impact," according to UnitedHealth Group. But experts aren't sure if the group responsible for last week's hack was sponsored by foreign actors.

Persons: Blackcat, UnitedHealth, —, Reddit, cybercriminals, Brett Callow Organizations: Reuters, Service, Healthcare, UnitedHealth, Blackcat, Caesars Entertainment, MGM Resorts, UnitedHealth Group, American Pharmacists Association, SEC, Colonial Pipeline, Google, Palo Alto Networks

☆ Google wants to make Android users super-texters with new AI features
▼ + stars: | 2024-02-26 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +3 min

Google Messages will now have access to the company's Gemini chatbot and custom "photomojis." The standout announcement is that Gemini, Google's own AI chatbot, will be available in the Google Messages app. The Gemini chatbot was formerly known as Bard, before Google rebranded its AI portfolio earlier this year. AdvertisementGoogle Messages users now have access to a beta version of the Gemini chatbot. Android's "photomoji" allows Google Messages users to crop emojis out of their camera roll.

Persons: —, chatbot, Bard, Tim Cook, We've Organizations: Google, Service, Mobile, Congress, Android, Apple Locations: Barcelona, Canada

☆ Luxury space-tourism company shows off its capsule designed to float to the edge of space with a massive balloon
▼ + stars: | 2024-02-24 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +3 min

An aerospace startup has unveiled the test capsule for its luxury space tourism experience. It's the latest commercial spacecraft for suborbital flight, after Virgin Galactic and Blue Origin. Space Perspective, a Florida-based startup, recently unveiled a test capsule for its new Neptune spacecraft. The company touts the pressurized Neptune capsule as "the largest human spacecraft in operation" aside from space stations like the ISS. Space Perspective"The space capsule is like nothing the world has ever seen," cofounder Taber MacCallum said in a statement.

Persons: —, Neptune, Shepard, Dezeen, Taber MacCallum, Jane Poynter, Space.com Organizations: Virgin Galactic, Service, Virgin, US Air Force Locations: Florida

☆ Google cofounder Sergey Brin faces wrongful-death lawsuit from pilot's widow over fatal plane crash
▼ + stars: | 2024-02-23 | by ( Camilo Fonseca | Joshua Zitser | ) www.businessinsider.com time to read: +5 min

Google cofounder Sergey Brin is facing a wrongful-death lawsuit stemming from a plane crash last year that killed two crew members en route to a private island in the South Pacific. The lawsuit also alleges that Brin intentionally delayed the recovery process. The suit identifies Brin, Google, and Bayshore Global Management — Brin's family office — as the "owner/operators" of the aircraft. While the lawsuit does mention various recovery efforts conducted by Brin's team, it alleges frequent and drawn-out delays. Olarte Maclean alleges that Brin's representatives cited weather conditions at the crash site and their interactions with the USCG as excuses.

Persons: Sergey Brin, Brin, Lance Maclean, Dean Rushfeldt, Olarte Maclean, Steven C, Marks, Larry Page Organizations: South Pacific, Business, Coast Guard, Los Angeles Times, Google, Bayshore Global Management, Bayshore, LA Times, Oceanic, Atmospheric Administration, NOAA, Brin's, Seafly LLC, Southern Cross Aviation, BI Locations: South, California, Hawaii, Santa Rosa , California, Fiji, Honolulu, Fiji's Mamanuca

☆ Uber CEO says the company took its drivers 'for granted'
▼ + stars: | 2024-02-22 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +2 min

Uber CEO Dara Khosrowshahi says that prioritizing drivers helped the company weather the pandemic. Uber drivers are worried about declining earnings, which led to a Valentine's Day strike last week. AdvertisementFor Uber CEO Dara Khosrowshahi, it's pretty clear who got the ride-hailing service through the pandemic: his drivers. Khosrowshahi, at a talk in Bengaluru, India, on Thursday, said that prioritizing drivers helped the company weather a difficult period where rides and revenue dropped precipitously. AdvertisementBut Uber drivers aren't universally content, Khosrowshahi's comments notwithstanding.

Persons: Dara Khosrowshahi, Uber, —, Khosrowshahi, It's Organizations: Service Locations: Bengaluru, India

☆ 6 stunning videos from OpenAI's new 'Sora' tool that look scary good
▼ + stars: | 2024-02-16 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +1 min

OpenAI recently debuted its new Sora tool for generating AI videos based on user prompts. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Open AI, creators of ChatGPT, announced on Thursday their new Sora tool, which generates short AI videos based on user prompts. This story is available exclusively to Business Insider subscribers.

Persons: OpenAI, —, ChatGPT, Sam Altman, . Organizations: Service, Business

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