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☆ I tried the Apple Vision Pro mixed-reality headset — here's what it's like
▼ + stars: | 2023-06-06 | by ( Steve Kovach | ) www.cnbc.com time to read: +7 min

related investing news Here's what analysts are saying about Apple's new Vision Pro headset The promise of Apple's new mixed-reality headset isn't really about the headset I got to take one for a test drive. The Vision Pro isn't large enough to fit glasses if you wear them. Even though most of the focus with Apple Vision is on the visuals, I was equally impressed by the audio. The Vision Pro has a pair of speakers that sit near your temples and provide a surround sound effect. But as someone who has tried just about every mainstream headset to date so far, I can tell you that Vision Pro feels like a $3,500 machine.

Persons: Josh Edelson, It's, Siri, I've, Apple, — audibly Organizations: Apple's Worldwide, Apple, AFP, Getty, Apple Watch, Quest, Vision, Meta's Locations: Cupertino , California

☆ Google is bringing an AI chatbot to search results. Here's what it's like
▼ + stars: | 2023-05-10 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +6 min

With the update, the look and feel of Google Search results will be noticeably different. Users can now sign up for a waitlist for the new Google Search, which will first launch in the United States, via the Google app or Chrome’s desktop browser. The new Google Search also offers a Perspectives feature to showcase what other people are buying or thinking about, and factoring that into results. Like ChatGPT, the new Google Search and Bard are built on a large language model. Google previously told CNN that Bard would serve as a separate, complementary experience to Google Search, and planned to “thoughtfully” add large language models to search “in a deeper way” at a later time.

☆ Sumitomo triples down on Jefferies at right time
▼ + stars: | 2023-04-28 | by ( Antony Currie | ) www.reuters.com time to read: +3 min

MELBOURNE, April 28 (Reuters Breakingviews) - Jun Ohta may have preferred to catch a bigger Wall Street fish. But the CEO of Japan’s Sumitomo Mitsui Financial Group (8316.T) is expanding his relationship with relative minnow Jefferies (JEF.N) at an opportune moment. The $56 billion SMFG also intends to increase its ownership of the $7.6 billion company run by Richard Handler to 15% by purchasing ordinary shares that it will convert into preferred stock. Slumping deal flow after what Jefferies called an “off-the-charts” 2021 prompted its earnings to more than halve last year. SMFG will buy common stock on the open market and then convert it into non-voting preferred stock.

☆ Premarket stocks: Is Big Oil running out of gas?
▼ + stars: | 2023-04-21 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Oil and gas stocks have been on a two-year tear, ripping ahead as natural gas prices surged due to supply chain kinks, a strong economy, and Russia’s invasion of Ukraine. What’s happening: Brutally high oil and gas prices were the talk of the town last year and one of the largest contributing factors to sky-high inflation. That’s bad news for automobile drivers, but ended up being great for the energy industry as oil prices and energy stocks are closely interlinked. Blackstone is feeling the commercial real estate slumpThe ongoing commercial real estate slowdown has a new victim: Blackstone. Profits from the sale of commercial real estate assets fell 54% to $4.4 billion, down from $9.5 billion last year.

☆ Apple's Mac shipments fall more than 40%, worse than major rivals
▼ + stars: | 2023-04-10 | by ( Rohan Goswami | ) www.cnbc.com time to read: +2 min

A new MacBook Air running M2 chip is seen displayed during Apple's annual Worldwide Developers Conference in San Jose, California, June 6, 2022. Apple's worldwide computer shipments fell 40.5% year-over-year in the first quarter of 2023, amid a broader contraction in consumer demand, according to research firm IDC. Apple's worldwide PC market share fell between the first quarter of 2022 to the first quarter of 2023, from 7.2% to 8.6%, according to IDC data. The company shipped 2.8 million fewer devices year-over-year in the first quarter of 2023, according to IDC. Apple CEO Tim Cook said at the time that the challenging macroeconomic environment impacted iPhone, Mac and Apple Watch sales.

☆ Working from home: The latest on who is WFH and who isn't
▼ + stars: | 2023-04-09 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +6 min

In other words, 72.5% of private-sector organizations — up from 60% in the July-to-September 2021 period — said they did not have employees working remotely. The BLS survey also interpreted respondents’ answers as referring to a company’s formal telework policies, not whether some employees informally work remotely on occasion, such as responding to work emails from home. The same survey respondents said their employers plan to allow employees to work remotely 2.2 days a week, for those who can. “I have talked to hundreds of organizations about WFH [working from home] over the past three weeks, and this is now clearly stabilizing to a post-pandemic norm,” he said in an email. In Pew’s February survey, 35% of people who could work remotely were doing so full time, down from 55% in October 2020, but still well above the 7% of people working remotely full-time before the pandemic.

The Roku Plus Series QLED 4K TV is the flagship model in Roku's first lineup of in-house TVs. Now the company is taking on those same partners by building its own in-house Roku TVs, including the new flagship Roku Plus Series QLED. As you might guess, Roku's Plus Series feels strikingly familiar inside and out. Roku 65-inch Plus Series 4K QLED TV Roku's new Plus Series is one of the company's first in-house smart TVs. The Roku Plus Series TV delivers solid performance, but it's not worth buying at full price.

☆ NY Fed index shows global supply chain pressures eased further in March
▼ + stars: | 2023-04-06 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

The bank said that as of March, its Global Supply Chain Pressure index moved to a reading of -1.06, versus the revised -0.28 seen in February. "Global supply chain conditions have largely normalized after experiencing temporary setbacks around the turn of the year," the bank said in its report. The index has seen extended periods of below-average supply chain stress and was in negative territory during the summer of 2019, ahead of the onset of the coronavirus pandemic. There was also an extended period of below-normal supply chain stress between roughly 2011 and 2016. But price pressures driven by non-energy service factors stripped of housing are "having the most trouble" abating, Williams said.

☆ AI image generators' latest challenge? Depicting unicycles.
▼ + stars: | 2023-04-06 | by ( Will Gendron | ) www.businessinsider.com time to read: +3 min

The latest thorn in AI art generation's side? It turned out the image was made using the AI text-to-image program Midjourney, ringing the alarm bells surrounding the growing capabilities of AI image generators and the resulting possibility for the spread of misinformation. But while AI art generators can depict a very true-to-life Pope, they still struggle with other images — including, it seems, unicycles. Stable Diffusion 2The technology not only seemed to have trouble depicting unicycles themselves, but also humans' interactions with them. Human hands had previously given AI image generators trouble.

☆ ‘It’s not zero.’ Wall Street is pricing in a small but growing risk of a disastrous US default
▼ + stars: | 2023-03-31 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

As politicians sleepwalk toward a potential debt ceiling crisis, financial markets have begun pricing in a small — but growing — chance of a disastrous default. “The probability of default has gone up noticeably,” Andy Sparks, head of portfolio management research at MSCI, told CNN in an interview. Yellen has used unusually strong language for a former central banker to warn Congress against messing with the debt ceiling. Asked about MSCI’s estimate of a 2% implied probability of a default, Valliere said that number is low. But this is not a typical debt ceiling debate.”Fallback optionsThere are some early indicators of concern popping up in the bond market.

☆ An AI researcher who has been warning about the technology for over 20 years says we should 'shut it all down,' and issue an 'indefinite and worldwide' ban
▼ + stars: | 2023-03-31 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +4 min

One AI researcher who has been warning about the tech for over 20 years said to "shut it all down." Eliezer Yudkowsky said the open letter calling for a pause on AI development doesn't go far enough. Yudkowsky, who has been described as an "AI doomer," suggested an "indefinite and worldwide" ban. The letter, signed by 1,125 people including Elon Musk and Apple's co-founder Steve Wozniak, requested a pause on training AI tech more powerful than OpenAI's recently launched GPT-4. Yudkowsky instead suggested a ban that is "indefinite and worldwide" with no exceptions for governments or militaries.

☆ Apple's own execs are split on whether the company should make smart goggles. Experts say if Apple can't make smart glasses happen, no one can.
▼ + stars: | 2023-03-30 | by ( Asia Martin | ) www.businessinsider.com time to read: +5 min

Apple is reportedly introducing its Reality Pro smart goggles in June. Experts say the goggles may not be a smash success, but if anyone can make it work, it's Apple. Earlier this week, The New York Times reported that a rare wave of dissent made its way into the team behind Apple's mixed-reality smart goggles, called Apple Reality Pro. Apple Reality Pro will have a wow-factor to it because it's had time to improve upon the foundations laid by its competitors. The virtual reality headset market was worth $7.7 billion in 2022, according to a report by Grandview Research.

☆ OpenAI CEO says it's not 'a big dunk' that he fears super intelligent AI, and its risks are 'far beyond anything we're prepared for'
▼ + stars: | 2023-03-27 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +4 min

"I think it's weird when people think it's like a big dunk that I say, I'm a little bit afraid," Altman told Fridman. Companies like Khan Academy, which provides online classes, are already tapping into the technology, using GPT-4 to build AI tools. "In the spirit of building in public and, and bringing society along gradually, we put something out, it's got flaws, we'll make better versions," Altman told Fridman. It was more inclined to answer questions about where to buy unlicensed guns, or about self-harm, whereas the version launched declined to answer those types of questions, according to OpenAI's document. "I think we, as OpenAI, have responsibility for the tools we put out into the world," Altman told Fridman.

☆ AI Tech Like ChaptGPT, Bing, Bard Is a Bigger Threat Than Social Media
▼ + stars: | 2023-03-14 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +13 min

Nowadays, the promise of social media as a unifying force for good has all but collapsed, and Zuckerberg is slashing thousands of jobs after his company's rocky pivot to the metaverse. Much like social media in 2012, the AI industry is standing on the precipice of immense change. And as Altman and his cohort charge ahead, AI could fundamentally reshape our economy and lives even more than social media. If social media helped expose the worst impulses of humanity on a mass scale, generative AI could be a turbocharger that accelerates the spread of our faults. Social media amplified society's issues, as Wooldridge puts it.

☆ A disturbing image of an elephant with a deformed spine shows the brutal toll that tourist rides can have
▼ + stars: | 2023-03-10 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +2 min

Pictures of rescued elephants show the toll of the tourist trade on the hard-working animals. Unlike horses, elephants were not bred to be ridden and tourist treks can cause irreversible damage. Amy Jones/Moving Animals/WFFTPai Lin, the elephant shown on the left, was rescued after more than 25 years in the trekking industry. Boon Chuey, shown below, is another elephant whose spine was deformed by the tourist trade, per the WFFT. Amy Jones/Moving Animals/WFFT"It's important to understand that elephants, unlike horses, are not bred to be ridden.

☆ Exclusive: Tesla taps Asian partners to address 4680 battery concerns
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +7 min

Details about Tesla's Cybertruck battery strategy, including use of 4680 cells and consideration of other options, have not been reported. The Tesla-designed 4680 cell - so named for its external dimensions (46mm diameter, 80mm length) - is crucial to future production plans. Last year, LG said it planned to open a new 4680 production line at its Ochang plant in Korea in the second half of 2023. Tesla also has been installing first-generation 4680 cells with "wet" cathodes in so-called structural packs in Texas-built Model Ys. Tesla plans to use a cathode with more than 90% nickel in the next generation of 4680 cells, two sources said.

☆ Goldman Sachs pitching wealth clients on investing in Stripe shows how Wall Street drums up exclusive deals for its richest customers
▼ + stars: | 2023-02-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

To that point, Insider's Hayley Cuccinello has a story on how Goldman Sachs offered its richest clients the opportunity to invest in the buzzy fintech Stripe. If I can take the startup client my investment bankers are working with and leverage my wealth clients to help them fundraise, that's a win-win. Even better if the cofounders and employees of said startup turn around and come back to me as wealth clients once I help them get rich. More broadly, this is also just another example of how banks are always finding ways to cater to their rich clients. Click here to read more about how Wall Street is leveraging clients in its investment bank for its wealth business*(OK, I couldn't help myself.

☆ Richard Branson's Virgin Hotels opened its newest location in New York City with rooms starting at almost $600 — see inside
▼ + stars: | 2023-02-26 | by ( Brittany Chang | ) www.businessinsider.com time to read: 1 min

The hotel, which is on Broadway, is still wrapping up final construction projects and ironing out kinks ahead of its grand opening in the spring. Brittany Chang/Insider

☆ TikTokers are roasting McDonald's hilarious drive-thru AI order fails — and it shows that robots won't take over restaurants any time soon
▼ + stars: | 2023-02-13 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

Another TikToker generated 97,000 views on a post, where she explained how "robots are taking over the world" and they're messing up her McDonald's order. She said the voice bot put 9 sweet teas on her order tab, when she only ordered one sweet tea. In the bot's defense, McDonald's restaurants don't serve Mountain Dew products. Those restaurants still have restaurant workers taking orders, but some McDonald's restaurants have voice bots. Checkers & Rally's, Taco Bell, Sonic, Panera Bread, and Popeyes are testing voice bots in drive-thru lanes.

☆ Hyundai launches 'no commitment' electric vehicle monthly subscription – here's why it's different from leasing
▼ + stars: | 2023-02-12 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

The subscription program will allow users to rent an electric car for as low as $699 per month. The South Korean car manufacturer announced the start of its Evolve+ electric vehicle subscription service at the 2023 Chicago Auto Show on Thursday. The Evolve+ app is available on the Google Play store and the Apple App Store. It's also advertised as a way to test out an electric vehicle with no long-term commitment. "Evolve+ gives our customers the opportunity to try an electric vehicle and see if it is right for their lifestyle.

☆ ChatGPT is supercharging how EQT sources deals. A top tech exec at the investing giant gives an inside look at how it's 'trying to make cyborgs' out of its dealmakers
▼ + stars: | 2023-02-06 | by ( Bianca Chan | ) www.businessinsider.com time to read: +7 min

But at Sweden-based investment firm EQT, the tech is being used at full throttle. "We're trying to make cyborgs," Alexandra Lutz, head of Motherbrain, EQT's AI platform, told Insider. With ChatGPT, Lutz said EQT has reached "the next frontier," putting the power of AI directly in the hands of its investors and portfolio companies. EQT's AI journey has been seven years in the makingThe impetus for EQT's AI platform can be traced back to a simple question. The AI platform generates lists of companies for EQT investors that look promising based on an input of desired attributes, from company size to geography and underlying technology.

☆ Why the case is growing for a Federal Reserve interest rate cut before year end
▼ + stars: | 2023-01-31 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +11 min

The Fed will get to 5%, but quickly start to retreat so that the year-end rate is going to be 4.6%, according to the Fed Survey. The Fed interest rate policy path is pretty clear for the next few months of Federal Reserve FOMC meetings. Fear of recession dipped in the latest Fed Survey, but it's still elevated, with 51% of respondents expecting a recession. The Fed Survey doesn't have a positive outlook on growth for 2023, but isn't forecasting negative growth either. But one consumer CFO did say that the way price increases are "pushed through" is becoming more strategic as opposed to across-the-board.

☆ 13 things Airbnb hosts wish their guests would stop doing
▼ + stars: | 2023-01-29 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: +8 min

Airbnb hosts don't communicate with guests outside of answering questions and leaving reviews. So Insider asked hosts what they wish their guests would stop doing during their stays. Insider spoke to multiple Airbnb hosts and asked them the things they desperately wished that guests would stop doing at their listings. Please respect our properties so we can continue to allow you to bring your furry friends," Cohen told Insider. Forgetting to leave a ratingAs Insider reported previously, Airbnb hosts live and die by the website's ratings.

☆ 12 things your Airbnb hosts wish they could tell you
▼ + stars: | 2023-01-26 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: +9 min

But dealing with an Airbnb host, as opposed to a hotel concierge, can be tricky. We spoke to Airbnb hosts across the US — here are 12 things they wish they could tell all guests. Insider spoke to multiple Airbnb hosts and asked them what they wished they could tell their guests. First things first: Don't use Airbnb or similar services, like VRBO, if you don't have toMultiple Airbnb hosts told Insider they'd actually prefer leaving Airbnb out of the process altogether. Some hosts simply shouldn't be hosts — don't let that put you off Airbnb"The main reason people should get into this business is to provide exceptional service to guests.

☆ MoviePass CEO Stacy Spikes on his plans to relaunch the service (for real) and bring back an unlimited option
▼ + stars: | 2023-01-24 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +20 min

Stacy Spikes told Insider he plans to put MoviePass out of beta and make it available for all by the summer. You would think Spikes would want to run as far away as possible from the movie-ticket-subscription startup. Before Stacy Spikes created MoviePass he created the Urbanworld Film Festival. I wanted to put that down because I see so many times people approach me and think MoviePass was my first business. MoviePassThe MoviePass beta version is focused on the credits system, e-ticketing, and fixing bugsWhat have been the biggest challenges in getting this beta version of MoviePass off the ground?

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