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Read previewFrench authorities charged Telegram CEO Pavel Durov with six crimes on Wednesday related to allegations that the tech leader allowed illegal activity to proliferate on his platform. Durov's arrest raises questions about free speech and content moderation. Telegram called Durov's arrest "absurd" and said that the company is "awaiting a prompt resolution" of the situation. Durov's arrest has received backlash from free-speech absolutists like Elon Musk — although his track record for allowing speech on X has also come into question. AdvertisementMusk, who has been criticized for the lack of content moderation on his platform X, defended Durov and painted the Telegram CEO's arrest as a broader global threat around free speech.
Persons: , Pavel Durov, Durov, He'll, David, Olivier Kaminski, Elon Musk, Daniel Lyons, Lyons, K, Dhillon, Emmanuel Macron Organizations: Service, Business, Associated Press, AP, Paris, Elon, Boston College Law School, New York Times, Times, Group, California Republican Party Locations: Ukraine, Russia, France
The doc includes more than 500 submissions from people who identified themselves as Microsoft employees in the US. The move came in response to a growing number of its workers feeling underpaid compared to Microsoft's tech peers like Amazon . AdvertisementAs a reminder, this pay data is based on Microsoft employees' self-reporting, so it's not a complete picture. However, the pay gap between Microsoft AI and the rest of the company is undeniable. These are the 100 most-used AI apps, according to a top VC.
Persons: , Chelsea Jia Feng, Insider's Ashley Stewart, Ashley, Satya Nadella, Drew Angerer, Mustafa Suleyman, it's, they're, Tyler Le, Jerome, Jerome Powell's, Goldman Sachs, Jamie Dimon's, Dimon, Ned Davis, Justin Sullivan, Andreessen Horowitz, Jenny Chang, Rodriguez, Jack, Jerome Powell, Sabrina Carpenter, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Service, Microsoft, Business, Microsoft Microsoft, Getty, Bloomberg Creative, JPMorgan, Treasury, Ned Davis Research, Big Tech, RBC Capital Markets, Consumer, Engineers, BI Locations: Washington, New York, London
Gary Marcus, founder of Geometric Intelligence, testified before the Senate with Sam Altman in 2023. Once hopeful of Altman, Marcus now says that the OpenAI CEO can't be trusted. The AI expert also wrote in The Guardian that we're on the wrong path to AI. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But a leading AI expert says the CEO's actions contradict his public pronouncements, and the current path to AI is headed in the wrong direction.
Persons: Gary Marcus, Sam Altman, Altman, Marcus, Organizations: Geometric Intelligence, Guardian, Service, Intelligence, Business Locations: OpenAI
Less discussed, however, is a parallel crisis in corporate America: a wave of aging business leaders who refuse to step aside. The average retirement age is similarly increasing: to 62 in 2024 from 57 in 1991. Using public data from 1992 to 2018, they assessed the relationship between a CEO's age and their "managerial ability," as measured by how they turned company resources into revenue and profit. "​​A 10% increase in CEO age is associated with a 1.9% decrease in managerial ability," they wrote. And older workers, both above and below the traditional retirement age, already face unwarranted discrimination in the workplace.
Persons: who'd, Joe Biden's, Donald Trump, Ruth Bader Ginsburg, Sen, Dianne Feinstein, It's, Rosemond Desir, Scott Seavey, Seavey, what's, Mark Fisher, Sumner Redstone, , David Ekerdt, Olivia S, Mitchell, Desir, Warren Buffett, Rupert Murdoch, Fisher, Biden imbroglio, they're Organizations: Business, Supreme, California, Florida Atlantic University, University of California, CBS, Viacom, Barclays, gerontology, University of Kansas, Wharton, Chevron, Caterpillar, Berkshire Hathaway, News Corp Locations: America, Irvine, Southern California, United, Berkshire
Mark Zuckerberg is in his fashion designer era
  + stars: | 2024-08-04 | by ( Jordan Hart | ) www.businessinsider.com   time to read: +5 min
Read previewAfter finally ditching his daily navy tees to show off more of his personal style, Mark Zuckerberg is taking his fashion journey a step further. Since then, Mark has made his own gold chain meme (using Meta AI, of course.) In April Zuckerberg said he was working with a jewelry designer to create the perfect gold necklace dedicated to his daughters. Meta CEO Mark Zuckerberg predicted that smart glasses, enabled with AI technology, will become commonplace. AdvertisementAnd with such a positive response to his new "drip," it won't be surprising if Zuckerberg keeps pushing into the fashion industry.
Persons: , Mark Zuckerberg, he's, Zuckerberg, Adam Mosseri, Ban, Cooper Neill, Mark, hasn't, Augustus, Carlos Barria, Ray Organizations: Service, Business, Ray, Getty, Meta, Google, REUTERS Locations: Instagram, libertatem
A judge on Friday questioned the restoration of Elon Musk's multibillion-dollar Tesla pay package. Tesla's lawyers argue a shareholder vote approving the pay should be sufficient to reinstate it. The judge, who previously invalidated the pay package, said the issue "will not end here and now." AdvertisementThe Delaware judge who previously threw out Elon Musk's $55 billion Tesla pay package has cast new doubts on whether the CEO's massive benefits package should be reinstated despite approval from the company's shareholders. Tesla lawyers on Friday argued the pay should be reinstated following a June shareholder vote approving it.
Persons: Elon Musk's, , Elon, David Ross, Musk, Chancellor Kathaleen McCormick Organizations: Service, Elon Musk's, Associated Press, Business Locations: Delaware
Last year, after selling a chunk of his stock and bond portfolio to purchase a house in cash, Sam Dogen found himself with too little passive income to support his family's budget. It turned out, this particular gig didn't align with his personal or financial priorities at this point in his life. By last year, his passive income portfolio, which includes stocks, bonds and real estate investments, among others, was bringing in about $380,000 a year. "That shored up a huge hole in my passive income," Dogen says. That won't produce passive income unless Dogen reinvests it, but it gave him the cash cushion to paper over some short-term cracks in his finances.
Persons: Sam Dogen, Dogen Locations: San Francisco
Louis Lehot, a Silicon Valley law-firm partner, specializes in taking companies from startup to IPO. The IPO market is expected to pick up later this year, so Business Insider emailed Silicon Valley lawyer Louis Lehot, a partner at Foley & Lardner, for advice on how startups should prepare for life as public companies. Are public market investors generally keen to invest in IPOs, or are they focused elsewhere? Public market investors are selective, focusing on established profitability and sustainable growth over speculative, high-growth stories. What are the key process changes companies need to make ahead of an IPO?
Persons: Louis Lehot, Lehot, , Lardner, Collison Organizations: Service, Foley, Healthcare, Biotech, Green Energy, Enterprise, Street, Investor
Montaque cofounded Group Black in 2021 with the goal of directing $500 million in advertising money to Black-owned media in its first 18 months. With the pledge, Group Black laid out a plan to steer money to Black media owners and acquire media companies. Bough, Group Black's chief strategy officer, was a former Mondelēz and PepsiCo marketer who presented the CNBC reality show "Cleveland Hustles." Various outlets reported that Group Black mounted bids for media companies including the Sports Illustrated publisher Arena Group, the Paramount-owned BET, Vice Media, and Vox Media. Seven former employees described Montaque as an energetic leader but said he was ultimately ineffective in executing Group Black's mission.
Persons: Travis Montaque, Weeks, Montaque, Bonin, Black, George Floyd, Breonna Taylor, Richelieu Dennis, Dennis, Ursula M, Burns, Randy Brooke, Ursula Burns, Seth Kaufman, Moët Hennessy, Gamble, Ziff Davis, offsites, Gamble —, Spokespeople, Derrick Johnson, Lionel Hahn, Todd Brown, It's, Christopher Kenna, I'm, Samantha Skey, Black's Travis Montaque, Arturo Holmes, Vivek Shah, Bough, Sheila Marmon, Media's Refinery29, Erika Goldring, Richelieu Dennis who's, Kirk McDonald, GroupM Organizations: Black, Cannes Lions, Business, Black's, SHE, Cola, Walmart, PepsiCo, CNBC, Xerox, Getty, Moët Hennessy North America, Procter, Gamble, NAACP, Urban Edge Network, Corporate America, Association of National Advertisers's Alliance, Inclusive, Multicultural, Diversity Media, Penske Media Corp, Zeta, Fox, Everyday Health, Sports, Arena Group, Paramount, BET, Vice Media, Vox Media, Galore Media, Mirror, Marmon, Media Locations: GroupM, America, Soho, Manhattan, Santa Monica, Cannes
The past few years have solidified single-family rental homes as genuine moneymaking enterprises, not just ho-hum nest eggs. Related storiesWhen everyone was scrambling for their piece of the suburbs during the pandemic, mom-and-pop landlords pounced, using these newfound tools to collect more cash. The company, which estimates only one-fourth of single-family-rental landlords use professional management services, now manages more than 28,000 rentals on behalf of small landlords. As the Wall Street ethos trickles down to small rental owners, it'll be harder and harder to tell them apart. But the gap is narrowing as small rental owners capitalize on the innovations that the institutional class has already embraced.
Persons: Daniel doesn't, Daniel, hasn't, he's, Bryan Smith, , Zers, John Burns, Rick Palacios Jr, Palacios, Jordan Kavana, Rich Ford, you've, Ford, Devin Redmond, doesn't, Philip Garboden, It's, Garboden, Roofstock Organizations: Atlanta, Corporate, Harvard Joint Center for Housing Studies, John Burns Research, Consulting, Ark Homes, Rent, Vesta Ventures, University of Chicago Locations: Zillow, Atlanta, Raleigh, Chattanooga , Tennessee, Grand Rapids , Michigan
Read previewElon Musk has seemingly confirmed Tesla's Robotaxi event has been delayed and revealed one reason the company needs more time before the big reveal. AdvertisementThe apparent reveal event delay isn't a complete shock — Musk often underestimates how long it will take to bring the ideas he has to market, saying he tends to be optimistic about product timelines. Not much is known about Tesla's Robotaxi event aside from that the public will get a glimpse at whatever the company has been working on. Tesla is also facing a number of lawsuits and regulator scrutiny related to safety concerns over its self-driving software. Tesla has yet to officially announce a new date for the Robotaxi event.
Persons: , Elon Musk, Musk, Warren Redlich, Tesla, Rosalie Nathans, she's Organizations: Service, Bloomberg, Business, Tesla, EV
Read previewElon Musk has seemingly confirmed Tesla's Robotaxi event has been delayed and revealed one reason the company needs more time before the big reveal. AdvertisementThe apparent reveal event delay isn't a complete shock — Musk often underestimates how long it will take to bring the ideas he has to market, saying he tends to be optimistic about product timelines. The same happened with the Cybertruck, Tesla's Full Self-Driving software, and Starlink's high-speed internet access in remote areas. Not much is known about Tesla's Robotaxi event aside from that the public will get a glimpse at whatever the company has been working on. Tesla has yet to officially announce a new date for the Robotaxi event.
Persons: , Elon Musk, Musk, Warren Redlich, Tesla, Rosalie Nathans, she's Organizations: Service, Bloomberg, Business, Tesla, EV
Intuit's CEO wrote in an email to staff that 1,050 of 1,800 cut employees didn't meet expectations. The company is moving forward with a reorganization plan to focus on "key growth areas" like AI. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "We've significantly raised the bar on our expectations of employee performance," the CEO wrote in the email included in an SEC filing. CEO Sasan Goodarzi added in the email that the company believes the staff would find more success elsewhere, the report said.
Persons: , We've, Sasan Goodarzi Organizations: Service, Intuit, SEC, Business
Costco hourly workers in the US, Puerto Rico, and Canada are getting raises later this month. Pay at both ends of the scale will increase by $1 per hour, CEO Ron Vachris said in a memo obtained by BI. The raise follows several increases in recent years as Costco tries to stay competitive on wages. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.
Persons: Ron Vachris, Organizations: BI, Costco, Service, Business Locations: Puerto Rico, Canada
Golub Capital CEO's outlook for Q2 earnings, private markets
  + stars: | 2024-07-09 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGolub Capital CEO's outlook for Q2 earnings, private marketsLawrence Golub, Golub Capital CEO, joins 'Fast Money' to talk private credit, his earnings outlook, and more.
Persons: Lawrence Organizations: Golub, Golub Capital Locations: Lawrence Golub
Mark Zuckerberg is leaning into his meme era
  + stars: | 2024-07-05 | by ( Jaures Yip | ) www.businessinsider.com   time to read: +4 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe memeification of Mark Zuckerberg continues — but lately, the Meta CEO seems to be just as in on the jokes. Zuckerberg surprisingly responded via Instagram Story with just the words: "Send Me Location," spurring incredulity among many. In a video announcing his company's latest AI features, Zuckerberg debuted his chain, which instantly caused a stir on social media. As another person tweeted, "Zuck definitely knows how to create a meme."
Persons: , Mark Zuckerberg, Zuck, Zuckerberg, Elon Musk, Israel Adesanva, Alexander Volkanovski, Joseph Rosenfeld, ORb48fArvU — sophie, @netcapgirl, Rosenfeld Organizations: Service, Business, Facebook, Tesla, MMA Locations: America, Zuck's
You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewElon Musk has come up with a list of recommended audiobooks — but they may not make terribly relaxing listening by the pool or beach this summer. "Admittedly, this is a list that appeals to those who think about Rome every day," Musk wrote on X, referring to the viral internet craze questioning how often men dwell on the Roman Empire. Musk is known to be fascinated by history, particularly the study of warfare and civilization.
Persons: , Elon, Tesla, Will, Ariel Durant, Rousseau, Musk, Friedrich Hayek, Durant, Hayek, Caesar, Doom, Kushner, The, Junger The, Tuchman, — Elon, General Douglas MacArthur, David Kushner, cofounders John Carmack, John Romero, Caesar himself, Mathias Döpfner, Axel Springer, Alexander the Great, William Bolitho, Christopher Columbus, Genghis Khan, Jack Weatherford, Richard Ernest Dupuy, Trevor Dupuy, Edward Shepherd Creasy Organizations: Service, Business, Manchester Masters, SpaceX, Tesla, Archaeologic Museum Locations: Rome, Naples, Italy
Luckily his close friends, Microsoft cofounder Bill Gates and his then-wife Melinda, went to great lengths to ensure he wouldn't starve. "To his delight he was served course after course of his french fries —even for dessert," Schroeder reported. When they stopped at restaurants for lunch and dinner, Buffett was again served burgers and fries while the others chowed down on Chinese food. During a scenic private cruise, Buffett, Gates, and Gates' dad played bridge. "Buffett towed the Gateses straight to McDonald's to buy hamburgers in the middle of the night," Schroeder wrote.
Persons: , Warren Buffett, Bill Gates, Melinda, Alice Schroeder, Buffett, Schroeder, Cherry Coke, Rick Wilking, Gates Organizations: Service, Business, Berkshire Hathaway, Reuters Locations: China, Sichuan, Champagne, gulps, Berkshire, Hong Kong
Read previewA Delaware judge still wants to consider a $6-billion request in legal fees from lawyers who shot down Elon Musk's multibillion-dollar pay package at Tesla regardless of the recent shareholder vote, court documents show. In January, Chancellor Kathleen McCormick of the Delaware Chancery Court ruled against Elon Musk's pay package that would've awarded the Tesla CEO more than $55 billion in stock at the time. With the outcome, lawyers representing Richard Tornetta, the Tesla shareholder who objected to the compensation plan, argued that they provided a valuable service in getting Musk's package rescinded. But Musk received some good news in June after shareholders voted to re-approve the CEO's pay package and maintain the current board structure with Kimbal and James Murdoch. Chancellor McCormick will have to decide on the fate of the package and whether the plaintiff's attorneys do deserve about $6 billion in legal fees.
Persons: , Elon Musk's, Kathleen McCormick, McCormick, Richard Tornetta, Musk, James Murdoch, doesn't, Chancellor McCormick, James, Park Organizations: Service, Elon, Business, University of California, Tesla Locations: Delaware, Los Angeles
And as one of the richest and most powerful people in the world, Musk's political stances carry a great weight. Musk's political donations dating back to 2002 fit neatly into just a single landing page on OpenSecrets, a nonprofit organization that tracks money in politics. AdvertisementThough Musk historically hasn't been big on political donations, he's publicly said that he weighs in on politics when it could affect his businesses. Musk's political coming of age during the pre-social media era remains much of a mystery. His latest donations have all been to Republican candidates and causes, with Sen. Chris Coons of Delaware being the last Democrat to receive any Musk donations back in 2020.
Persons: , Elon, hasn't, that's, he's, Trump, Joe Biden, Donald Trump, Musk, Elon Musk, Paul Harris, Errol —, Ashlee Vance's, Musk's, Andrew Panzera, Tesla, Martin Eberhard, Marc Tarpenning, Trump Tesla, Alex Brandon Musk, George W, Bush, John Kerry, Barack Obama, Hillary Clinton, Clinton, Sen, Chris Coons, Rex Tillerson's, Hillary Clinton's, Marc Piasecki, Ron DeSantis, DeSantis, Biden, Nelson Peltz, MAGA, — Musk Organizations: Service, SpaceX, Business, White, Tesla, Getty, Pretoria City Council, Progressive Party, New York Times, Times, PayPal, Trump, Donald Trump AP, Democratic, California Democrats, National Republican Congressional, GOP, Republican, Elon, State, Paris Climate, America, NASA, Biden's, Cannes Lions, Democratic Party, Republican Florida Gov, Twitter Locations: Africa, Los Angeles, Republic of South Africa, Pretoria, South Africa, Canada, Johannesburg, Silicon Valley, California, Sens, Delaware, Paris, Texas, Musk's Texas
Take one of Risher's latest LinkedIn posts, which details driving Lyft riders around Napa Valley on a Sunday in early summer. But one Pennsylvania-based Lyft driver told Business Insider that the reality is far different than what Risher describes. AdvertisementDuring one recent week driving in Pennsylvania, the driver told BI that he completed eight rides over about three hours and drove 85 miles. Uber and Lyft workers say they're regularly offered rides that pay $3 or less each. Do you work for Lyft, Uber, DoorDash, or another gig rideshare or delivery service and have a story idea to share?
Persons: , David Risher, Risher, They're, aren't, Lyft, Uber, they're, that's Organizations: Service, Business, Lyft Locations: Napa Valley, Pennsylvania, Napa
Take one of Risher's latest LinkedIn posts, which details driving Lyft riders around Napa Valley on a Sunday in early summer. But one Pennsylvania-based Lyft driver told Business Insider that the reality is far different than what Risher describes. AdvertisementDuring one recent week driving in Pennsylvania, the driver told BI that he completed eight rides over about three hours and drove 85 miles. Uber and Lyft workers say they're regularly offered rides that pay $3 or less each. Do you work for Lyft, Uber, DoorDash, or another gig rideshare or delivery service and have a story idea to share?
Persons: , David Risher, Risher, They're, aren't, Lyft, Uber, they're, that's Organizations: Service, Business, Lyft Locations: Napa Valley, Pennsylvania, Napa
Led by Quentin Koffey, Politan has nominated two further directors to the company's board, and says that without their election, management will continue to operate without oversight. "This is shareholders' last chance at meaningful change," Politan wrote in a letter to Masimo shareholders on Wednesday, laying out its case to investors ahead of the meeting. But governance improvements have fallen short of what shareholders deserve, Koffey wrote in the letter, noting that Masimo's board "does not review, approve or see a budget." Masimo took aggressive steps to fend off Politan, introducing bylaws to force the firm to reveal its shareholder list. "For more than two years, Politan has navigated unprecedented impediments thrown up by Masimo's board," the activist said.
Persons: MASI, Joe Kiani, Manjunath Kiran, Quentin Koffey, Politan, Masimo, Koffey, Michelle Brennan, Darlene Solomon, Bill Jellison, Stryker, it's, Kiani, Wilkins, Denon, Mario Tama, haven't, Russell, management's Organizations: Getty, Politan Capital Management, CNBC, Apple Watch, Sound United, Bowers, Sound, Shareholders Locations: Bangalore, Jan, Delaware, Caribbean, Irvine , California
Days before admittedly stabbing and dismembering tech CEO Fahim Saleh, ex-personal assistant Tyrese Haspil admittedly used $750 of his victim's money to buy this 6-by-6-inch cake for his girlfriend. Anything less than unanimity — say if one juror accepts Haspil's EED defense and 11 do not — will cause a mistrial. Killer Tyrese Haspil, left, and Fahim Saleh in the lobby of Saleh's Lower Manhattan condo complex, one minute before the attack. Tyrese Haspil, accused of the 2020 murder-dismemberment of tech CEO Fahim Saleh, in state Supreme Court in Manhattan. Fahim Saleh is facing his killer, Tyrese Haspil, as the elevator doors close on the victim's apartment.
Persons: , They'll, Tyrese, Fahim Saleh, Haspil, Saleh, Tyrese Haspil, Louis Vuitton, Chauveau, Alan Chin, who'd, Barry Rosenfeld, he'd, Linda Ford, He'd, Exed, Tasers, Fahim Saleh's, Joseph Goldstein, Sam Roberts —, Society — Organizations: Service, Business, Attorney, Louis, Manhattan, Home Depot, York Penal Law, Amazon, Buy.Taser.com, New York, Society Locations: Manhattan, France, Lower Manhattan, American, Gokada, Nigeria, Brooklyn, Lagos, New York, balaclava, New
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewTim Cook has been Apple's CEO since 2011, and he's led the tech giant to major milestones and through tough times. Still, Cook has seen the company through major releases like the Vision Pro headset and the launch of Apple Intelligence in 2024 alone. AdvertisementHere are five things managers and CEOs can do to run their companies like the 63-year-old Apple chief. AdvertisementIn the book " Tim Cook: The Genius Who Took Apple to the Next Level " by Leander Kahney, it's revealed that asking employees questions is a management tactic Cook uses often.
Persons: , Tim Cook, he's, Cook, Stanford University — Cook, Steve Jobs, Jobs, Leander Kahney, it's, Kahney, Greg Joswiak, Apple's, He's, Marques Brownlee, Dua Organizations: Service, Apple, Department of Justice, Business, Apple Intelligence, Gallaudet University, Stanford University Locations: An Alabama, Dua Lipa
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