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☆ A researcher who studied Trump's plans to control the Fed said it could tank the economy
▼ + stars: | 2024-09-29 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +5 min

Economists at the Peterson Institute studied what would happen if Trump undermined Fed independence. The study's lead researchers dug into the economic impact of three of Trump's campaign promises: mass deportations, tariffs, and eroding Fed independence. Though Trump promises an America First economic agenda, McKibbin said that taking control of the Fed would get him the opposite results. AdvertisementHe doesn't think the public is paying enough attention to the risks of Trump's Fed proposals or the overall murkiness of the candidates' economic policy. "If you're going to advocate a policy, there has to be evidence as to why you're advocating that policy," McKibbin said.

Persons: Trump, —, Warwick McKibbin, McKibbin, Jerome Powell, Trump hasn't, they're, Kamala Harris, Harris Organizations: Peterson Institute, Fed, BI, Service, Federal, Peterson Institute of International Economics, Trump, PIIE, Business, Wall Street Journal, Biden Locations: China, Canada, Mexico, Australia, America

☆ Trump says Kamala Harris was born 'mentally impaired' in what he conceded was a 'dark speech' at a Wisconsin rally
▼ + stars: | 2024-09-29 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +3 min

Trump said Vice President Kamala Harris was born "mentally impaired" at a rally in Wisconsin. He later conceded to the crowd that it was a "dark speech." AdvertisementFormer President Donald Trump delivered what he conceded was a "dark speech" at a rally in Wisconsin on Saturday, reeling off a string of personal barbs about Vice President Kamala Harris. Trump later conceded that it was a "dark speech." Advertisement"I'm just saying, this is a dark — this a dark speech," he added.

Persons: Trump, Kamala Harris, —, Donald Trump, Harris, Joe Biden, Kamala, Maria Town, they'd, Trump's, Biden Organizations: Service, American Association of People, Trump Locations: Wisconsin, Prairie du Chien , WI

☆ Apple's surprising new AirPods hearing aid feature might actually be a success
▼ + stars: | 2024-09-28 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

Apple's AirPods Pro 2 now feature FDA-approved hearing aid capabilities. The Hearing Aid feature in Apple's AirPods Pro 2 is designed for people with mild to moderate hearing loss, and Apple said it can amplify voices, phone calls, and media sounds. So I sought out an expert in the hearing loss community to get a better understanding of whether we should expect Apple's hearing aids to be a hit or miss. The Over-the-Counter Hearing Aid Act of 2017 made it legal for the FDA to regulate the sale of hearing aids that don't require a prescription or a trip to the audiologist. As the daughter of a woman who suffers from hearing loss, I've witnessed my mother's denial of her struggles.

Persons: Apple's, —, Apple, Katherine Bouton, Bouton, Bose, I've Organizations: FDA, AirPods, Service, Food and Drug Administration, of America, Apple, Costco, Walmart, Bureau of Labor Statistics

☆ Indie movies are having a surprising comeback in a bleak time for Hollywood
▼ + stars: | 2024-09-28 | by ( Lucia Moses | ) www.businessinsider.com time to read: +7 min

AdvertisementDespite all the doom and gloom in Hollywood, there's optimism coming from a surprising place: indie films. "Longlegs" barely promoted its biggest star, Nicolas Cage, and is the year's biggest indie film, grossing over $100 million worldwide. AdvertisementThe case for hope for indie filmsRecently, there's been a spree of pieces predicting the death of indie films. Brands like Procter & Gamble and Neutrogena are taking a bigger role in film financing, too, providing another source of hope for indie films. Indie films can also be a bargain to rent or buy on streaming compared to big studio films.

Persons: Thelma, —, There's, Nicolas Cage, Dennis Quaid, Reagan, Matt Walsh's, Shawn Robbins, Seth, there's, Ampere, Jonathan Glickman, Neutrogena, Michael Messina, Ken Kao, They're Organizations: Service, Magnolia Pictures, Conservative, Blue Harbor Entertainment, Hollywood, Netflix, Ampere, Miramax, Waypoint Entertainment, Partners, Brands, Procter, Gamble, Toronto Film Locations: Hollywood, Seattle, Eastern Europe

☆ Are immigrants taking jobs from 'native' U.S. workers? Here's what economists say
▼ + stars: | 2024-09-28 | by ( Greg Iacurci | ) www.cnbc.com time to read: +8 min

Immigrants expected to boost the economyThere are several reasons why immigrants largely benefit the economy and job market, economists said. Immigrants take jobs but they also create new ones by spending in local economies and by starting businesses, economists said. One 2020 research paper from the National Bureau of Economic Research found immigrants are 80% more likely to become entrepreneurs than native workers. To the extent there's job competition from new immigrants, it tends to fall mostly on prior immigrants rather than native U.S. workers, according to the National Academies paper. "Sudden surges of immigration obviously affect the ability of native workers to find and take jobs on a given afternoon," Clemens said.

Persons: Kamala Harris, Donald Trump, Carlos Moreno, NurPhoto, Donald Trump's, Pew, Alexander Arnon, Michael Clemens, Clemens, Cohen, Giovanni Peri, it's, Peri, Arnon, Penn Wharton, Tim Chapman, George Borjas, Borjas —, —, Mariel boatlift, Borjas, Stephen Miller, Trump, Anna Kelly, David Card, Joe Sohm Organizations: Juventud, Getty, Republican, Trump, Pew Research Center, Pew, Penn Wharton Budget Model, Immigrants, National Bureau of Economic Research, Congressional, Office, Congress, George Mason University, Penn Wharton Budget, Immigration, El, Bloomberg, U.S, Global Migration, University of California, National Academies of Sciences, Engineering, National Academies, Florida Straits, Miami Herald, Harvard, Academies, Republican National Committee, America, Universal Locations: Tijuana , Mexico, Wilmington , North Carolina, U.S, El Chaparral, San Ysidro Port, Davis, Key West , Florida, Mariel, Florida, South Florida, Miami, USA, San Francisco

☆ The basic income myth: cash discourages work
▼ + stars: | 2024-09-28 | by ( Allie Kelly | ) www.businessinsider.com time to read: +10 min

Critics of guaranteed basic income often suggest that cash payments discourage work. Guaranteed basic income programs are gaining momentum across the US as an approach to poverty reduction. Related storiesBasic income critics say cash discourages workBillionaires, politicians, and financial leaders have criticized basic income programs, saying that cash payments could encourage laziness among participants. AdvertisementStill, guaranteed basic income programs reflect short-term results. Harper began teaching shortly after enrolling in a Georgia-based guaranteed basic income program, In Her Hands.

Persons: —, Taniquewa Brewster, Brewster, America's, John Gillette, Sam Altman, Samra, aren't, Cepia Harper, Harper, I've, Asya Howlette, Howlette, Brewster — Organizations: Service, Texans, Business, Austin, Rep, Mayors, Orleans Mayor's, Youth Locations: Arizona, Illinois, Texas, Stockton and Baltimore, Denver, Georgia, Orleans

Even though the Fed plans to continue cutting rates, mortgage rates might not fall much more this year. Mortgage rates trended down ahead of this decision, but now that the cut has happened and the rest of this year's cuts are priced in, it will take a change in the economic outlook to push mortgage rates down further. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile.

Persons: they've, Freddie Mac Organizations: Federal Reserve, Fed, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs Locations: U.S, Chevron

☆ Masayoshi Son is the $100 billion gambler who went from dirt track to tech titan — and he isn't done betting yet
▼ + stars: | 2024-09-28 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +14 min

SoftBank founder Masayoshi Son has spent his life putting bold bets on the future of technology. SoftBank, the media-technology conglomerate Son founded two decades prior, was riding high on the glory it attained in the dot-com boom. He was told he was special," Barber told BI. "He wants to be seen as the great modernizer transforming this petrostate into a truly modern economy where technology is at the forefront," Barber told BI. But as previous cycles in Son's life dictate, the flurry of enthusiasm is typically followed by failure.

Persons: Masayoshi Son, Lionel Barber, —, Son, Bill Gates, Masa —, Uber, Barber, Vladimir Putin, Barack Obama, — he's, Jack Ma's Alibaba, Wang, he's, Napoleon Bonaparte, Genghis Khan, Qin Shi Huang, Emperor of, Microsoft's Gates, Jordan Strauss, Mitsunori, SoftBank, Rupert Murdoch, Larry Ellison, Jack Welch, Steve Jobs, Masayoshi, Justin Sullivan, Rajeev Misra, Nikesh Arora, Phil McCarten, Abu Dhabi's Mubadala, Mohammed bin Salman, Saudi, Michael Moritz, Kim Jong, Adam Neumann, Donald Trump, Wirecard, Jesus, NurPhoto, He's, Allen Lane Organizations: Service, Financial Times, Kremlin, Yahoo, Popular Electronics, Vision, Deutsche Bank, Google, Reuters, Saudi Arabia's Public Investment Fund, Vision Fund, Valley's, Sequoia Capital, Greensill, Nvidia, Signal Publishers Locations: Tokyo's Roppongi, Japan, Masayoshi, Washington, Wayne, Emperor of China, Kyushu, United States, Riyadh, Berkeley, Las Vegas

☆ The shipbuilding empire fueling China's naval rise is a juggernaut, but tough questions remain
▼ + stars: | 2024-09-28 | by ( Chris Panella | ) www.businessinsider.com time to read: +9 min

China's massive shipbuilding industry is key to its military's naval modernization. But military corruption and future maintenance issues raise questions about long-term sustainability. AdvertisementChina's shipbuilding industry is at the core of its efforts to modernize its navy, producing new warships at astonishing speeds. This important national ambition gives tremendous support to China's shipbuilding empire. Over the years, there have been signs of extensive corruption documented within the shipbuilding industry, as well as other parts of China's defense industry.

Persons: —, Gerald R, it's, it'll, Brian Hart, Matthew Funaoile, Funaoile, That's, Mike Sweeney, Sweeney Organizations: Service, of Naval Intelligence, Navy, Department of Defense, US Navy, Ford, Pentagon, Liberation Army Navy, Getty, Jiangnan Shipyard, Zhonghua Shipyard, China Power, Center for Strategic, International Studies, Getty Images, CSIS, Business, China State Shipbuilding Corporation, PLA, People's Liberation Army, Planet Labs PBC, U.S . Navy, Maxwell, Defense Locations: China, Fujian, Jiangnan, Getty Images China, Dalian, Huangpu Wenchong, Hong Kong, Hudong, Shanghai, Beijing, Wuhan

☆ My kids cage-dived with sharks on vacation. People may judge my parenting, but I don't want my children to live in fear.
▼ + stars: | 2024-09-28 | by ( Maria Noyen | ) www.businessinsider.com time to read: +5 min

Monet shares two daughters with her husband James Hambrick: Jordyn, who is 10, and Kennedy, who is 8. When we had kids, everyone was like, "Oh, you're never going to be able to travel anymore now that you have kids." I let my kids do adventurous activities I wouldn't dare tryI am definitely the person who plans our trips. People can judge, but I don't want my kids to share my fearsIn certain situations, my fear has hindered me from having some amazing experiences because I'm terrified. The last thing I wanted to do was instill fear in my kids just because I'm scared of something.

Persons: Monet Hambrick, Kennedy, She's, —, Monet, James Hambrick, Monet doesn't, we'll, I've, That's Organizations: Service, University of Florida, Cape Town Locations: Florida, Botswana, Delta, Costa Rica, South Africa, Cape, Orlando

☆ The No. 1 phrase parents with high emotional intelligence say to reduce stress, says Harvard-trained coach
▼ + stars: | 2024-09-28 | by ( Dr. Jenny Woo | ) www.cnbc.com time to read: +1 min

In a recent survey from the American Psychological Association, nearly half of the parents polled reported feeling overwhelming stress on most days. This unrelenting strain has become so prevalent in the U.S. that the Surgeon General issued an advisory warning on the mental health and well-being of parents and caregivers. Parents today spend more time with their kids than parents did in the mid-'60s, yet many are still plagued by guilt and worry that they're not doing enough. In an age of compulsive comparison and childhood enrichment, it's easy to fall into the trap of feeling inadequate while overparenting. DON'T MISS: How to master your money and grow your wealthIn my work as a Harvard-trained EQ educator, I've found that there is one phrase that parents with high emotional intelligence use to help them stress less and raise capable kids: "I'm good enough."

Persons: they're, I've Organizations: American Psychological Association, Harvard Locations: U.S

☆ A record number of apartments are getting built this year. That's great news for real estate affordability.
▼ + stars: | 2024-09-28 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

The US will see construction completed on a record number of apartments this year. The Sun Belt region in particular is seeing this dynamic play out. The US will see construction on a record number of apartments completed this year. They're now seeing rent prices fall, or at least remain stagnant as the rest of the nation lags behind. That means the market will eventually balance itself in the next few years, which will lead rent prices to once again rise, she said.

Persons: —, Laurie Goodman, Goodman, Austin, Chen Zhao, Zhao Organizations: Service, Housing Finance, Center, Urban Institute, Sun, metros, Dallas, Harvard Locations: Dallas, New York, Austin

☆ Self-made millionaire's advice to help a couple rein in their spending after racking up $65,000 in credit card debt: 'It's not about whack-a-mole'
▼ + stars: | 2024-09-28 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +1 min

Kathleen said that her principles have been, "It was all going to work out eventually," and "Let's not worry about it." "It's not simply one decision or two, because if we simply try to do it by decisions, it's like playing whack-a-mole," Sethi said. He walked the couple through a few exercises to see how they feel and think about money. They want to feel proud, empowered and like they actually are as well off as their salary and lifestyle suggests. They say they're committed to making the necessary changes to get there, but they also accepted that it's not going to be easy.

Persons: Sethi, Kathleen, it's, It's, They're, they're Locations: Montana

☆ My son just got married, and I'm no longer the center of his world. I'm now lost and wish I didn't make 'mom' my only identity.
▼ + stars: | 2024-09-28 | by ( Susan Solomon Yem | ) www.businessinsider.com time to read: +4 min

My son has just married, so I am no longer the queen of his universe. I regret making my children the center of my world because they no longer need me as adults. I've always made my children the center of my world, but now that they're adults, I'm struggling to understand my role in their lives. When Queen Elizabeth ascended the throne, her mother became Queen Mother. Now, I struggle with the realization that my children no longer need me in the way they once did.

Persons: —, That's, I'm, I've, it's, Champagne, Queen Elizabeth, Queen Mother, that's Organizations: Service

☆ A 27-year-old has sold over $4 million worth of sneakers in 2024 by shifting to 'live selling.' She explains how it works and why every store owner should learn the skill.
▼ + stars: | 2024-09-28 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

Shifting to live selling changed everything. She shadowed a friend who was also starting to do live Whatnot shows. After just one month on Whatnot, Zapata says she did enough in sales to quit her insurance job in September 2022. Her advice to any online or brick-and-mortar store owner is to develop the skill of live selling. They're doing intros, they're interacting, they're really getting creative with the things that they're giving to their community.

Persons: Val Zapata, Zapata, —, We've, We're, they're, They're, She's, Holly, Kobe Bryant Organizations: Service, Facebook, Business, YouTube, Twitter, eBay, Zapata's, BI, Kobe Locations: Houston, Nevada

☆ Insider Today: Austin's genius housing fix
▼ + stars: | 2024-09-28 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com time to read: +7 min

This week's dispatchThe high cost of weight-loss drugsiStock; Rebecca Zisser/BIWhy are two popular weight-loss drugs — Wegovy and diabetes medication Ozempic — so expensive in the US? Patients also bargain-hunt for cheaper weight-loss drugs online, or try to use manufacturer-issued coupons. See the full listiStock; Rebecca Zisser/BIDeals we loveCalling all Madewell shoppers: The bi-annual Madewell Insiders sale is here with 25% off almost everything full-price and an additional 40% off sale. The bi-annual Madewell Insiders sale is here with 25% off almost everything full-price and an additional 40% off sale. The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York City.

Persons: —, you've, Shailene Woodley, George Clooney, Rebecca Zisser, Ozempic, Lars Fruergaard Jorgensen, Sen, Bernie Sanders, it's, Gabby Landsverk, Ro, Henry Meds, Eli Lilly, Stefania Pelfini, Jenny Chang, Rodriguez, BI Marie, Mangin, Yellowstone Joey Hadden, Jackson, Wyoming's, Natalie Ammari, Zers, Austin, Tyler Le, Dan DeFrancesco, Jordan Parker Erb, Lisa Ryan, Amanda Yen, Grace Lett Organizations: Business, Service, Novo Nordisk, Federal Trade Commission, FDA, copycats, BI, Yellowstone, Austin, Lone Star, Disney, Pixar, British, Netflix, Insiders Locations: Washington ,, Germany, New York City, New York, Chicago

☆ Buffalo Wild Wings is still fighting in court to prove its boneless wings aren't just 'chicken nuggets'
▼ + stars: | 2024-09-28 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +5 min

Buffalo Wild Wings is defending its "boneless wings" in court against deceptive marketing claims. Buffalo Wild Wings argue it is 'common sense' that they are not actually wings, citing another case. AdvertisementBuffalo Wild Wings has been fighting in court for over a year to prove that its "boneless wings" aren't just chicken nuggets. In court papers, lawyers for Halim argue that the boneless wings are "more akin in composition to a chicken nugget rather than a chicken wing." Buffalo Wild Wings did not immediately respond to a request for comment about the lawsuit filings.

Persons: —, Aimen Halim, Halim, Tom's, Bill Marler, Marler Organizations: Buffalo Wild Wings, Service, Buffalo, Wings, Ohio Supreme, REKM Locations: Ohio

Taylor County expects to take a direct hit from the Category 4 storm, which is expected to make landfall Thursday night. Taylor County, in northern Florida near the Big Bend region, is home to 20,000 residents, Padgett said. Follow here for live updatesAs in other spots in Florida, mandatory evacuations were ordered for Taylor County, but Padgett estimated that as much as half of his population is choosing to stay put. Uber has offered to take Taylor County residents to shelters outside the county, Padgett said. Helene is the third major storm within a year for Taylor County, Padgett said, "But we're going to endure.

Persons: PERRY, Helene, Mark, Sheriff Wayne Padgett, Padgett, It's, We've, I've, ” Padgett, Uber Organizations: Sheriff, Taylor County Locations: Fla, Taylor, Taylor County, Florida, Bend

☆ Brat summer is over. Here's what Gen Z's wearing to the office this fall.
▼ + stars: | 2024-09-27 | by ( Jordan Hart | ) www.businessinsider.com time to read: +5 min

Gen Z workers are redefining office dress codes with their fall fashion trends. AdvertisementCharli XCX may have painted this summer "Brat" green, but a new season — and thus new style trends — are upon us. As a result, office fashionistas are building their fall work wardrobes. As for "Brat Summer," Rose compared it to the pink craze sparked by "Barbie" summer in 2023, which she said faded away by September last year. The office encourages employees to wear what they want, and Butler takes full advantage by expressing her street style.

Persons: —, what's, Zers, Jordan Booker, Jordan Booker Booker, Booker, Ralph Lauren, he's, Bella Hadid, Syndey Rose, Sydney Rose, Sydney Rose Rose, Rose, Barbie, Tealoni Butler, Butler, Tealoni Butler Butler Organizations: Service, Business, Nike, Sydney Locations: Patagonia

☆ Investors can depend on these frightless five stocks during a scary October for markets
▼ + stars: | 2024-09-27 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

With this in mind, CNBC PRO screened for some safe-haven stocks that investors can look toward for some calm during the rocky times. Rate-sensitive utilities stocks have outperformed in recent weeks as investors look toward a lower interest rate environment. Two-thirds of analysts covering the stock rate it a buy or a strong buy, according to LSEG. To be sure, the stock is already trading 0.3% above its consensus price target, meaning it could be due for a pullback soon. Although more than half of analysts covering the company rate it a hold, the consensus price target implies more than 9% upside potential from Thursday's close, per LSEG.

Organizations: CNBC PRO, NextEra Energy, Electric Power, PPL, American Electric, Truist

☆ Hands-on with Meta's Orion AR glasses prototype and the possible future of computing
▼ + stars: | 2024-09-27 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Meta CEO Mark Zuckerberg presents Orion AR Glasses, as he makes a keynote speech during the Meta Connect annual event, at the company's headquarters in Menlo Park, California, U.S. September 25, 2024. The most impressive aspect of Meta's Orion augmented-reality glasses has more to do with size and comfort than flashy computer graphics. Meta CEO Mark Zuckerberg revealed the Orion glasses on Wednesday and pitched them as "a glimpse of a future that I think is going to be pretty exciting." While Orion is not capable of putting users in fully virtual worlds, the glasses can overlay digital graphics onto the real world. And unlike VR headsets that can be cumbersome to wear for extended periods, Boorstin said she found the Orion glasses to be a good fit.

Persons: Mark Zuckerberg, Orion, Julia Boorstin, Boorstin, they're Organizations: Meta, CNBC, Orion, Connect, Apple Vision Locations: Menlo Park , California, U.S

See more mortgage rates on Zillow Real Estate on ZillowWhat Are Today's Mortgage Refinance Rates? See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Current 30-Year Mortgage RatesAverage 30-year mortgage rates are hovering around 5.80%, according to Zillow data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. But now that inflation has decelerated and the Fed is expected to cut rates soon, mortgage rates have trended down.

Persons: they've, Lawrence Yun, Freddie Mac, it's, Fannie Mae Organizations: Federal, National Association of Realtors, Zillow, Fed, Mortgage, Association, ARM, . Government Locations: Chevron, Government

☆ 32-year-old gave up on buying a home in LA after mortgage costs surged: 'Even a modest condo costs close to $1 million'
▼ + stars: | 2024-09-27 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

When Jonathan Ochart moved from San Antonio to Los Angeles in 2023 to grow his public relations business, he figured he'd buy a condo. But that's only one of the reasons he's priced out of the Los Angeles County market, even for a smaller place. In LA, "even a modest condo costs close to $1 million," he says. Jonathan Ochart gave up on buying a condo in Los Angeles. Courtesy of Jonathan OchartBy early 2024, Ochart had given up on the idea of buying a condo in Los Angeles altogether.

Persons: Jonathan Ochart, Ochart, you've Organizations: CNBC, U.S . Census Locations: San Antonio, Los Angeles, Texas, Angeles County, Ochart's, Beverly Hills, LA, San Jose , New York, Boston, LA County, U.S

☆ The stock market's euphoria-driven record highs are at risk of a painful downturn, 'Black Swan' investor says
▼ + stars: | 2024-09-27 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Spitznagel thinks they should focus instead on lagging drivers that could spur a sharp stock downturn. Advertisement"Black Swan" investor Mark Spitznagel thinks that the stock market's streak of record highs is distracting from a more jarring reality that could come by year-end. In a recent interview with Bloomberg TV, he said investors are currently enjoying a market that's in a "Goldilocks zone." "When the yield curve disinverts and then unverts, the clock starts ticking and that's when you enter black swan territory," Spitznagel told Bloomberg. He has warned of a stock market crash since January 2023, and back in July, he said the market's yearslong rally has become the "greatest bubble in human history," and its bursting would make for a recession.

Persons: Stocks, they've, Mark Spitznagel, Spitznagel, —, That's, capitalizes Organizations: Service, Bloomberg TV, Bloomberg, Universa Investments

☆ An OpenAI shake-up wouldn't just make Sam Altman richer — he'd have more control, too
▼ + stars: | 2024-09-27 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +5 min

Since 2019, the company has had what Sam Altman called an "unusual" hybrid structure. AdvertisementAfter operating under what Sam Altman called an "unusual" structure for more than four years, OpenAI is reportedly preparing to become a for-profit business. OpenAI could be structured as a public-benefit corporation, Bloomberg reported, an entity that balances profit with mission. An OpenAI spokesperson told the outlet the nonprofit entity "will continue to exist" and was core to its mission. OpenAI was established as a nonprofit in 2015, but in 2019, it created a "capped profit" subsidiary, OpenAI LP.

Persons: OpenAI, Sam Altman, Altman, —, Mira Murati, Anthropic, it's, Anat Alon, Beck, Alon, Eric Chaffee, Chaffee, OpenAI didn't Organizations: Service, Reuters, Bloomberg, CNBC, Elon, Microsoft, Case Western Reserve University's School of Law, Case Western Reserve University Locations: OpenAI, Delaware

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