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☆ Inside Europe's tech hubs: Does London have what it takes to remain No. 1?
▼ + stars: | 2024-06-19 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +32 min

But it will remain a big, big trend. How has if at all, Brexit, affected the U.K. tech scene? Arjun KharpalAre there other challenges at the moment, as you see them to the U.K. tech landscape? I'm gonna go with the amount of VC funding in U.K. tech startups for 2025. Sanjot MalhiI would say that is the amount of funding in U.K. AI startups.

Persons: Tom Chitty, Arjun, we'll, Arjun Kharpal, I've, Sanjot, He's, It's, Tom Chitty I've, we've, it's, Arjun Kharpal Sanjot, fintech, we're, you've, let's, Tom Chitty We're, Franklin Templeton, they're, Masa, Softbank, that's, Arjun Kharpal Sanjay, Emmanuel, Macron, hasn't, who's, Emmanuel Macron, I'm, Sanjot Malhi, Arjun Kharpal That's, Kharpal, Tom Chitty Sanjot Organizations: HSBC Innovation Banking, CNBC, Northzone, Hague Cricket Club, European Union, Competition, Markets Authority, London Stock Exchange, London, Masa, Viva Tech, Mistral, Nvidia Locations: Europe, Dealroom, France, China, London, beyondthevalley@cnbc.com, Netherlands, India, The Hague, Germany, Sweden, North America, Asia, San Francisco, Beijing, Tel Aviv, Bangalore, U.S, British, doesn't, Ukraine, IPOs

☆ An heiress asked a group of strangers how to give away her $27 million inheritance. They've now told her what to do.
▼ + stars: | 2024-06-19 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +1 min

Austrian heiress Marlene Engelhorn asked 50 strangers to help distribute $27 million in inheritance. The group proposed giving money to 77 charitable initiatives, including environmental and women's groups. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementEarlier this year a 32-year-old Austrian heiress asked a group of complete strangers to decide how best to distribute roughly $27 million of her inheritance. It should be awarded to 77 charitable initiatives over several years, the group said, including several women's shelter associations, children's charities, and climate crisis organizations.

Persons: Marlene Engelhorn, Engelhorn, — Organizations: Service, Good, Business

☆ The best scene in 'Bridgerton' season 3 proves why Kanthony needs their own spinoff
▼ + stars: | 2024-06-18 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +5 min

"Marriage takes hard work," Kate tells Colin. "Our marriage is not hard work," Anthony quips. Luckily, "Bridgerton" has just given us the perfect set-up for a potential Kanthony spinoff — one that feels like it could generate another story. Simone Ashley as Kate and Jonathan Bailey as Anthony on the season three premiere of "Bridgerton." All episodes of "Bridgerton" season three are now streaming on Netflix.

Persons: —, Kate, Anthony's, they've, Simone Ashley, Jonathan Bailey, Anthony, Colin, they're, Colin's, Shonda Rhimes, Betsy Beers, Rhimes, Liam Daniel, Charithra Chandran, Edwina —, Ashley, Jess Brownell, Bailey Organizations: Service, Business, Town, Netflix Locations: India

☆ A surgeon general's warning on social media wouldn't be as powerful as good-old-fashioned parenting, experts say
▼ + stars: | 2024-06-18 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +6 min

But social media experts and researchers are mixed on just how effective such a move would be. According to one August 2022 study, almost half of all adolescents said social media makes them feel bad about their bodies. And what exactly would the warning say, North wondered, noting that social media is rarely exclusively harmful. Proactive parentingFor most kids, social media use begins at home. AdvertisementAre you a parent who has struggled with your children's social media use?

Persons: —, Vivek Murthy, Murthy, Titania Jordan, they've, Jordan, Mark Zuckerberg, Karen North, North Organizations: Service, New York Times, Business, American Medical Association, Bark Technologies, University of Southern Locations: University of Southern California

☆ These are the most popular trades today — and the best contrarian trades to go against the crowd
▼ + stars: | 2024-06-18 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

By far, the most dominant trade on Wall Street is going long the "Magnificent Seven." Investors are the most bullish they've been on the mega-cap tech stocks going back to October 2020, the firm found. In fact, about 69% of respondents were bullish on the group, making the Magnificent Seven the most crowded trade for 15 straight months. One highly contrarian trade Bank of America identified could be going long bonds. Going long oil is another contrarian trade that could work as an hedge against geopolitical risk, the Wall Street firm said.

Persons: they've, What's, BofA Organizations: Bank of America Securities, Bank of America

☆ How MBAs Are Skipping the Corporate Ladder to Become CEOs
▼ + stars: | 2024-06-18 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +10 min

Read previewWhat's the most sought-after job opportunity for graduating students of top business schools like Harvard Business School, Wharton at UPenn, and Stanford's Graduate School of Business? For the 2024 CIT program, which starts this summer, Alpine received 750 applications for just 12 slots, giving it an acceptance rate of 1.6%. Related stories"You're moving from Yale Law School and Harvard Business School to Jackson, Mississippi, to run a plumbing company," Anderman said as an example. Wurtzbacher also got invaluable leadership training from Weaver, a longtime professor at Stanford's Business School and winner of the MBA Distinguished Teaching Award in 2024. The CIT program is so attractive to them because it offers a clear path to doing this by leading a company.

Persons: —, Wharton, David Wurtzbacher, Wurtzbacher, Tal Lee Anderman, Graham Weaver, Weaver, JP, Graham, Anderman, they're, they've Organizations: Service, Harvard Business School, Stanford's Graduate School of Business, McKinsey, Business, Investors, Harvard, Stanford Business School, Green, Partners, CIT, Alpine's CIT, Wharton, Alpine, BI, Yale Law School, Alpine's San, Stanford's Business School, Stanford Locations: UPenn, San Francisco, Stanford, Manhattan, America, Jackson , Mississippi, Alpine's, Alpine's San Francisco, York, Carolinas, Virginia

☆ Investors are the most bullish since November 2021, a widely followed survey shows
▼ + stars: | 2024-06-18 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Investors are the most bullish they've been since November 2021, according to the global fund manager survey (FMS) released Tuesday from Bank of America Securities. Halfway through 2024, the S & P 500 and the Nasdaq Composite are each at records , on Monday closing once again at all-time highs. .SPX YTD mountain S & P 500 in 2024. In November 2021 — the last time Wall Street was this bullish — the S & P 500 capped off a strong year, advancing more than 26%. 1 risk on investors' minds (according to 32% of investors, down from 41% in May), followed by geopolitics (22%, up from 18%), and the U.S. presidential election (16%, up from 9%).

Persons: they've, Michael Hartnett Organizations: Investors, Bank of America Securities, Nasdaq, Bank of America, Federal Reserve, U.S, CNBC

☆ NASA is putting an 'artificial star' in orbit around Earth
▼ + stars: | 2024-06-18 | by ( Jessica Orwig | ) www.businessinsider.com time to read: +5 min

NASA recently approved the $19.5 million Landolt Space Mission to launch the mini satellite into Earth's orbit. AdvertisementA revolutionary new tool for astronomersLandolt, which is about the size of a bread box, is designed to fire lasers at observatories on Earth to help astronomers study the stars. Related storiesWhat makes this "artificial star" better than a real one is that astronomers will know exactly how much light it's emitting. Landolt can help astronomers catch minute details they've otherwise been missing in the data. How Landolt could revolutionize astronomyAstronomers are excited that Landolt could help them find more Earth-like exoplanets that might harbor life.

Persons: —, Tyler Richey, Eliad Peretz, unquote, Richey, Arlo Landolt, Yowell Organizations: Service, Business, NASA, Lowell Observatory, Yowell Locations: Richey

☆ 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

☆ It might be your fault you can't afford a house, says finance guru Dave Ramsey
▼ + stars: | 2024-06-18 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Read previewBuying a house has become especially hard, but some people can't afford one because they're mismanaging their money, personal finance guru Dave Ramsey says. "It is mathematically tough right now, it is economically tough. Overspenders can't complainDespite those challenges, the talk show host and author called out people who make bad financial decisions and then complain they can't afford a house. "Well I just told you why you can't afford a house: Your stinking overspending." "When you are broke and in debt, don't have an emergency fund, and sign up for a mortgage payment you can't afford, that is not smart real estate.

Persons: —, they're, Dave Ramsey, Overspenders, Ramsey, Warren Buffett Organizations: Service, Business, Federal Reserve, Disney

☆ Inside the highly competitive training program that puts MBAs into a CEO role right after graduation — and is harder to get into than Harvard
▼ + stars: | 2024-06-18 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +10 min

☆ Are Stevan and Alara from 'Perfect Match' season 2 still together?
▼ + stars: | 2024-06-17 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +1 min

Stevan Ditter and Alara Taneri are one of the most consistent couples in "Perfect Match" season two. AdvertisementWarning: Spoilers ahead for the first nine episodes of "Perfect Match" season two. Stevan Ditter and Alara Taneri may be the strongest couple in "Perfect Match" season two after the latest episodes. "Perfect Match" series draws together contestants from across Netflix's reality show slate and gives cast members a second chance at love (or boosting their fame). Stevan and Alara seemed to be more focused on the love part.

Persons: Stevan Ditter, They've, —, they're, Stevan, Alara Organizations: Service, Netflix, Business

☆ A millennial who makes 6 figures says she's looking across the US for a home but is struggling to find one in her budget that has green space and a 'metropolitan vibe'
▼ + stars: | 2024-06-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

Read previewWhen Madelyn Driver and her husband began house-hunting, they thought they had a few advantages. The 30-year-old makes over $100,000 working in the tech industry, according to a document viewed by BI — and she said her husband also has a six-figure income. Driver is among a group of Americans with six-figure incomes who are having trouble meeting some of their financial goals. Related storiesOf course, for the majority of Americans who don't have a six-figure income — the average annual full-time salary was about $84,000 as of March — affording a home is even more of a challenge. Driver said their ideal location would have a highly educated population, diversity, plenty of green space, and milder weather than the Northeast.

Persons: —, they're, they've, Driver, hasn't, millennials Organizations: Service, BI, Business Locations: Pennsylvania, Colorado, Carolinas, Virginia

☆ My son's video game habit worried me but it fueled his interest in coding, robots, and AI. At age 16, he won $55,000 at a science fair.
▼ + stars: | 2024-06-17 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +5 min

It helped him, especially in his science fair projects. They both used their coding skills later when they developed AI models for their science fair projects. But video games might have taken my son a step further. John and Pauline did their next science fair project together, expanding on the concept with tomato plants and a rover. John Benedict Estrada and Pauline Estrada stand in front of their science fair project at Regeneron ISEF.

Persons: —, Maria Estrada, It's, they've, John, Mario, Pauline, Dexter, Estrada's, Gordon E, Moore, John Benedict Estrada, Pauline Estrada, ISEF Organizations: Service, Fresno State, Business, Nintendo, PlayStation, Regeneron, Science, Engineering, University of California Locations: ISEF, Berkeley

☆ How to invest $100,000 when stocks are at all-time highs? Here's what two wealth managers say
▼ + stars: | 2024-06-17 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

As stock markets press against all-time highs driven by the potential of artificial intelligence, the question of how to invest $100,000 has become more urgent than ever. "But perhaps relative to the global equity universe, we would probably have a bit more outside of the United States." Echoing that view, Matthews says he sees opportunities in equity markets, particularly in small- and mid-cap stocks in the United Kingdom and Europe. "We have been adding to this area in the U.K. through Chelverton United Kingdom Equity Growth Fund ." Looking ahead, Flax acknowledges the potential impact of political risks like upcoming elections in the United Kingdom and the United States.

Persons: Richard Flax, Moneyfarm, Robert Matthews, WH, they've, Matthews, Flax, — Organizations: CNBC Pro, WH Ireland, CNBC, Chelverton United Kingdom Equity Growth, Health, AstraZeneca, HICL Infrastructure PLC Locations: United States, United Kingdom, Europe, London, U.S

☆ 80% of Americans say grocery costs have notably increased since the pandemic started, survey finds
▼ + stars: | 2024-06-17 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

The rate of price increases for food has subsided in recent months, according to the latest government inflation data. Since the start of the pandemic, grocery prices have risen 25%, the report also found. Additionally, 18% have either applied for or considered applying for food stamps, while 15% rely on or have considered turning to food banks. Yet, 53% indicated they earn too much to qualify for food stamps or other government assistance but still have difficulties paying for necessities. The survey was conducted online by Qualtrics on behalf of Intuit Credit Karma, from May 7-13 among 2,011 adults.

Persons: they've, Karma Organizations: Intuit, Qualtrics, Intuit Credit Karma

☆ His wife had a common skin condition and tried expensive creams for over 20 years. She became 'patient zero' for his personalized skincare company — and had clear skin in a month.
▼ + stars: | 2024-06-17 | by ( Julia Pugachevsky | ) www.businessinsider.com time to read: +10 min

For 20 years after getting pregnant, Cherry Jia tried everything to fade the dark patches on her face. After giving birth to her son, she had melasma, a fairly common skin discoloration caused by hormonal fluctuations during pregnancy. The treatments they sold for dark spots had no effect on her skin. Jia said Musely's top-selling products treat aging concerns like dark spots, rosacea, and hair thinning. MuselyPart of the boom comes from the desire for products that target specific skin concerns, like dark spots or wrinkles.

Persons: Musely, —, Cherry Jia, she'd, Jack Jia, Cherry, Jack Jia Jia, Marie Jhin, he'd, Jhin, Lori Bush, Kimber Maderazzo, dermatologists, Jia, Jhin . Cherry Jia's, Jack Jia's, Musely Jia, estriol, they've, isn't, it's Organizations: Healthcare, Service, Musely, Jhin, FDA, New York Times Locations: drugstores

☆ Red flag answers to avoid in hiring interviews, according to Tripadvisor's former CEO
▼ + stars: | 2024-06-17 | by ( Jaures Yip | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Nailing your hiring interviews is an entirely separate test, and Tripadvisor cofounder Steve Kaufer recently shared some red flag answers to avoid. Kaufer said he listens for tendencies to blame others (a red flag) or their ability to be empathetic to coworkers (a green flag). The answer to that question can also indicate differing definitions of hard work, the former Tripadvisor CEO said. For example, if the candidate viewed a task as difficult because they had to work on a single Saturday, that can be "kind of a red flag," Kaufer said.

Persons: —, Steve Kaufer, Logan Bartlett, Kaufer, Kaufe, he'll Organizations: Service, Business

☆ ALICEs, DINKs, HENRYs, and More: a Complete Guide
▼ + stars: | 2024-06-17 | by ( Erin Snodgrass | Jacob Zinkula | ) www.businessinsider.com time to read: +17 min

But the terms' recent popularity suggests people want to understand how they fit into the broader economy beyond standard measurements. But that, too, is uncertain: She said she was "dangerously close" to losing the aid because her income is too high. ALICEs tend to be older or younger workers, and while they're represented across racial groups, they're more likely to be Black or Hispanic. HIFI: High Income, Financially InsecureHIFI is the latest acronym to join the club. In a 2021 Medium post, Erica Dhawan defined "geriatric millennials" as millennials born in the early 1980s.

Persons: ALICE, HENRY, Kory, Anthony Klotz, Kantenga, DINK, They've, they've, Eric Anicich, Henry, Alice, haven't, Sarah, she's, — there's, they're, Carrie, Gen Zers, Brenton, Mirlanda, Neiman Marcus, Katie Notopoulos, Paige Connell, Connell, Chrissy Arsenault, Arsenault, Jimmy Simpson, who've, Rich, Christopher Stroup, Stroup, HIFIs, Erica Dhawan, Dwahan, Louis, —, Jewel Benjamin, Benjamin, micromanaging, Erin Snodgrass, Jacob Zinkula Organizations: FIRE, Business, LinkedIn, Texas, USC Marshall School of Business, : Asset, SNAP, Los Angeles Times, DINKs, Public School, Financial Independence, Sherwood News, Federal Reserve Bank of St, Federal Reserve, University of Michigan Health, Social, Social Security Locations: POLK, City, Dallas, Boston, Massachusetts, Colorado, Santa Monica , California, millennials, Georgia

☆ Plummeting fertility rates are making Asian countries worry about running out of soldiers
▼ + stars: | 2024-06-17 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +5 min

Read previewEast Asia has some of the world's lowest fertility rates, forcing countries in the region to think hard about how to maintain their military strength. This is particularly concerning given the rise in tensions between North and South Korea, and between China and the US. China, Japan, and South Korea have fertility rates below the global replacement rate — resulting in declining populations. South Korea's fertility rate was 0.72 in 2023, the lowest in the world, compared to the global average of 2.2, according to The Lancet. Hughes said that, like South Korea, Japan has been left thinking about how automation and AI can mitigate the worst effects of a shortage of an army-age population.

Persons: —, Ramon Pacheco Pardo, Pardo, Chris Hughes, Hughes, They've, it's, China's Organizations: Service, Business, KF, VUB, Brussels School, Governance, Vrije Universiteit Brussel, South Korean, North, - Defense Forces, University, Warwick, Self - Defense Forces, Japan Times, Liberation Army, Nikkei Asia Locations: Asia, North, South Korea, China, Japan, Korea's, VUB Korea, Vrije, North Korea, Korea, Israel, Pardo, Ukraine, Russia

☆ Red-flag answers to avoid in hiring interviews, according to Tripadvisor's former CEO
▼ + stars: | 2024-06-17 | by ( Jaures Yip | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewHaving a stellar résumé and LinkedIn profile is only half the battle to survive the job market. Nailing your interviews is a separate test — and the Tripadvisor cofounder Steve Kaufer recently shared some red-flag answers to avoid. AdvertisementIn other words, don't play the blame game in interviews, as it could suggest an inability to take responsibility when things get tough. Kaufer said he looks not only at the obstacles interviewees struggled with but at their ability to constantly evaluate and improve.

Persons: —, Steve Kaufer, Logan Bartlett, Kaufer, he'd, they'd Organizations: Service, Business, Software

☆ The influencer-marketing strategies that made brands like Adobe and Google Pixel favorites for creators from underrepresented backgrounds to work with
▼ + stars: | 2024-06-17 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +6 min

"Influencer marketing is so personal, it's about the creator," Jenkins said. Several industry experts, including creators, have said this is because brands routinely pay creators of color less than their white counterparts on collaborations. AdvertisementSome companies like Pandora, however, have earned reputations among creators of color for fair compensation, prompting them to develop long-term partnerships spanning years. We also give the creator creative latitude whenever we can and let them co-create the concept based on what is authentic to their experience." "We usually know going into a negotiation where it's going to start and where it's going to end up."

Persons: Inclusivity isn't, Nikki Jenkins, She's, it's, Jenkins, Brandon Shi, They've, Google's, Ava Donaldson, Nneya Richards, she's, Donaldson, We're, we're, Pandora, lowballs, Leah Walker, Walker Organizations: Service, Business, Pandora, Adobe, Google, Heritage

☆ Meet the Professors Whose Porn Careers Cost Them Their Jobs
▼ + stars: | 2024-06-16 | by ( Hallie Lieberman | ) www.businessinsider.com time to read: +28 min

The porn videos had titles like "Juicy Anniversary" and "Bedroom Shenanigans." In search of a man for Wilson, Gow sought advice from his therapist, who suggested joining a swingers club. In the background, Video Gow is moaning "Oh yeah" as IRL Gow says, "I've always had some ED issues." As the video ends with the big finale — the money shot, as it's known in the industry — Video Gow stands above kneeling Video Wilson, arms outstretched. The termination letter said he had failed to properly report his income from the porn videos and had violated "prohibitions for using one's public position for private benefit."

Persons: Joe Gow, Carmen Wilson, Gow, isn't, " Gow, Wilson, Bruce Springsteen, we've, It's, I'm, Simone Lueck, BI Gow, hadn't, Wilson's, Nina Hartley, Danny Mountain, who'd, We've, Cal Berkeley, Lauren Phillips, Phillips, mischievously, We’ll, We'll, Barack Obama, Geri, Jay Hart, IRL Gow, I've, she'd, Barack Obama's, Hartley, Raymond Cross, Cross, Hartley dustup, Stills, —, Tony Tomich, Moberg doesn't, Gow's, demurely, Starr, Socrates, Eugene Volokh, Roe, Diane, wouldn't, aren't, They've, Wilson wouldn't, Hallie Lieberman, She's Organizations: University of Wisconsin, selfies, CNN, The, BI, UW, La, Sony, Higher, MIT, USC, Cal, Dickinson State University, Food Network, IRL, Dartmouth, La Crosse Tribune, La Crosse, University of, FTI Consulting, Easton Moberg, Press, Stanford, Court, eBay, Sssh.com Locations: La Crosse, London, India, Gaza, Gow, Rock, San Francisco, Wisconsin, Chicago, Los Angeles, North Dakota, Arizona, Communist China, City, San Diego

☆ Why student loan forgiveness sparks anger: A philosopher, attorney general, sociologist and religious thought expert weigh in
▼ + stars: | 2024-06-16 | by ( Annie Nova | ) www.cnbc.com time to read: +5 min

D'Aungilique Jackson, of Fresno, California, holds a "Cancel Student Debt" sign outside the U.S. Supreme Court in Washington, D.C., after the nation's high court struck down President Joe Biden's student debt relief program on Friday, June 30, 2023. Kent Nishimura | Los Angeles Times | Getty Images'A common-sense fairness question'"There is a common-sense fairness question when it comes to erasing student debt," Griffin wrote in an email to CNBC. "Our priorities should be preventing and alleviating student debt, rather than insisting on a narrative of personal responsibility." So student loan forgiveness may affect more Democrats than Republicans directly." Some who oppose student loan forgiveness view education as a private commodity that benefits the person who purchases it."

Persons: D'Aungilique Jackson, Joe Biden's, Kent Nishimura, Griffin, Kate Padgett Walsh, they've, Padgett Walsh, Devin Singh, Singh, there's, Charlie Eaton, haven't, Eaton Organizations: U.S, Supreme, Washington , D.C, Los Angeles Times, Getty, CNBC, Biden, Valuable Education, Iowa State University, Dartmouth College, Democratic, University of California Locations: Fresno , California, Washington ,, Arkansas, Merced

☆ What Warren Buffett said about GameStop mania then, as the frenzy returns in 2024
▼ + stars: | 2024-06-16 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Meme stock and erstwhile videogame retailer GameStop is back in the limelight as Reddit ringleader Roaring Kitty stirs up another trading frenzy. Warren Buffett commented at length about the speculative behavior during the first GameStop mania in 2021. Then, the "Oracle of Omaha" called the stock market a gambling parlor for retail investors, encouraged by Wall Street's investment banks and brokerages. "It's become a very significant part of the casino group that has joined into the stock market," Buffett said at 2021's Berkshire annual meeting . Options trading in GameStop exploded after Roaring Kitty, whose legal name is Keith Gill, touted his large positions in those risky vehicles.

Persons: Kitty, Warren Buffett, Wall, It's, Buffett, They've, Keith Gill, John Maynard Keynes Organizations: GameStop, Berkshire, Citadel Securities Locations: Omaha

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