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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
Wedbush analysts note a Trump presidency may hurt the EV sector but benefit Tesla. Higher Chinese tariffs could limit competition, giving Tesla an edge in the US EV Market. Overall, Wedbush writes that Trump's presidency would be an overall negative for the industry. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . According to a note to investors from Wedbush analysts, Trump's possible return to the White House could be a good thing for Tesla.
Persons: Trump, Tesla, Wedbush, Trump's, Organizations: Market, Service, Elon, Business
Read previewElon Musk wants "to give people superpowers," according to a livestream Neuralink update broadcast on X Wednesday. The CEO took the moment to provide an overview of what's been done and give his future projections about the brain chip. The chip contains an array of tiny wires that fan out into the patient's brain. Neuralink's first patient, Noland Arbaugh, received the brain chip in January and has since said it improved his life. Musk started off the livestream by saying the second Neuralink patient is expected to receive an implant in the next week or so.
Persons: , Elon, Neuralink's, Noland Arbaugh, Musk, Neuralink Organizations: Service, Business, Optimus, Bloomberg
Elon Musk just dodged a $500 million bullet
  + stars: | 2024-07-10 | by ( Ana Altchek | ) www.businessinsider.com   time to read: +3 min
Read previewElon Musk and his company X, formerly Twitter, just got out of a $500 million in severance pay lawsuit for now, according to a Tuesday court ruling. They argued the company failed to properly compensate over 6,000 laid-off employees under rules set by the Employee Retirement Income Security Act. The judge noted in her ruling that the company told employees after Musk took over that laid-off employees would get cash payouts. AdvertisementThe company told employees after Musk took over that laid-off employees would get cash payouts, according to the ruling. Several lawsuits have been filed regarding Musk's takeover of X and insufficient severance pay awarded to laid-off employees — and they're ongoing.
Persons: , Elon Musk, Courtney McMillian, Ronald Cooper, Sanford Heisler Sharp, Trina Thompson, Musk, McMillian, Cooper Organizations: Service, Northern District of, Twitter, Business, BI, Musk's Locations: Northern District, Northern District of California, London, Boulder , Colorado
Read previewThe Greek government responded to backlash about its new six-day workweek policy and said the regulation doesn't change the current workweek, according to a CNBC report published Tuesday. "It is important to note that this new regulation does not in any way affect the established 5-day/40-hour working week mandated by Greek law, nor does it establish a new 6-day working week," Greek Minister of Labour and Social Security Niki Kerameus told CNBC. AdvertisementBut Kerameus said the extra working day is only applicable in situations of increased workload, the report said. Employees who work the extra hours will see a 40% jump in pay for that time. Kerameus said the law also provides more protection for workers, like guaranteed days off, set working hours, and measures to prevent wrongful termination, the report said.
Persons: , Niki Kerameus, Kerameus Organizations: Service, CNBC, Labour, Social, Business, Employees, European Union Locations: Europe
Read previewIt sounds like Tesla parents are going to love an upcoming software update — although their teenagers may resent it. The update includes new parental controls, with a range of features that can be enabled with a vehicle PIN, the reports said. That reportedly includes something called "Night Curfew," which could make it easier for Tesla parents to enforce their teenagers' bedtimes. If and when "Night Curfew" and the other parental controls are released publicly, they'll add to the other features that help Teslas stand out from other cars. AdvertisementWhile the new features may soothe some parents' concerns about their teen's driving, Tesla has made headlines in the past with incidents involving children.
Persons: , Tesla Organizations: Service, Business, Tesla, National, Traffic Safety Administration
But a few months ago, Boardman was working at Boston Consulting Group and had taken the tech giant on as a client. But he was also surprised by the offer, as he thought he was too old to be taken on by a company like Google. Related storiesBut it's still possible to get a Big Tech job at a later stage, as Boardman proves. Boardman suggests networking throughout your career and attending professional events to make connections and get to know the people at companies you're applying to. AdvertisementDon't get complacentBoardman didn't stumble into a job at Google — he's been working for this moment his whole career.
Persons: , Mark Boardman, Boardman, he'd, it's, pigeonhole, who's, he's, That's Organizations: Service, Google, Business, Boston Consulting Group, , Big Tech, US, Labour, Companies Locations: London
Why your checking account may no longer be free
  + stars: | 2024-07-05 | by ( Ana Altchek | ) www.businessinsider.com   time to read: +1 min
Chase Bank's boss warned that new federal fee caps could make everyday banking more expensive. Marianne Lake said the bank is planning to pass the pain of their lost profits on to customers. Some new costs may be placed on now-free services like checking accounts and financial tools. 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: Chase Bank's, Marianne Lake, Organizations: Service, Chase Bank, Wall Street, Business
Read preview29-year-old Supreet Kaur has interviewed at 15 companies over the last few months, and just received an offer from Microsoft. She said the job market for AI roles has changed drastically since she was on the hunt about two years ago. While Big Tech CEOs are fighting over AI talent, some candidates are fighting for a spot in the increasingly competitive job market. If you're looking for a job in AI, Kaur said these are the four key things you need to know. "The best way to look for a job is when you don't need a job," Kaur said.
Persons: , Supreet Kaur, Morgan Stanley, Kaur, Google's, BNY Mellon Organizations: Service, Microsoft, Business, Big Tech, Summit New Locations: Summit New York, York
Peter Berg, founder of Forward, a consulting firm that hires globally remote engineers for startups, wants to change that. About a month ago, Berg announced that Forward would provide data and context to every applicant once a role is closed. Berg told Business Insider that Forward does its best not to waste people's time during the application or interview process through lengthy exams or assignments. Melissa Bashur told BI that the insight she received allowed her to better understand the current job market. He also said individual contributors who don't have experience with hiring tend to be more in the dark about the process.
Persons: , Peter Berg, Berg, it's, Melissa Bashur, Bashur, they're Organizations: Service, Business, LinkedIn
Jeff Bezos filed a plan to sell 25 million Amazon shares worth nearly $5 billion on Tuesday. Bezos' move follows Amazon stock hitting a record of $200.43 and a $2 trillion market cap last week. Bezos, the world's second-richest person, still holds over 900 million Amazon shares. AdvertisementJeff Bezos is cashing out some of his Amazon shares as the stock hit an all-time high this week. The Amazon cofounder filed a notice with the SEC to sell 25 million Amazon shares worth close to $5 billion on Tuesday.
Persons: Jeff Bezos, Bezos, Organizations: Service, Amazon, SEC, Business
Read previewGoogle is testing a new security system that uses facial-recognition technology at its campus in Kirkland, Washington — and early reaction from Google employees in the US is mixed. The interior security cameras collect facial data and are designed to help prevent unauthorized individuals from entering Google's campus, the company said. Google said its security team uses the data to identify people who may pose a security risk. After news of the system was first reported by CNBC, Business Insider talked to Google employees at various campuses to find out what they thought about the change. A Google spokesperson said there were no known plans in place to use the security system for attendance tracking.
Persons: , Kirkland , Washington —, Kirkland, it's, they've, Chris Rackow Organizations: Service, Google, Business, CNBC, Kirkland, Google's, Amazon, National Labor Relations Board, YouTube Locations: Kirkland , Washington, Google's, Kirkland, New York, San Francisco, Google's New York, Sunnyvale, San Bruno , California, Mountain View , California
Peter Berg, founder of Forward, a consulting firm that hires globally remote engineers for startups, wants to change that. About a month ago, Berg announced that Forward would provide data and context to every applicant once a role is closed. Berg told Business Insider that Forward does its best not to waste people's time during the application or interview process through lengthy exams or assignments. One woman posted on LinkedIn about the experience and said Forward offered her the "BEST" rejection letter. Melissa Bashur told BI that the insight she received allowed her to better understand the current job market.
Persons: , Peter Berg, Berg, it's, Melissa Bashur, Bashur, they're Organizations: Service, Business, LinkedIn
Jonathan Kaye was arrested on assault charges after a video of him punching a woman went viral. Banker Kaye resigned from Moelis last week after it said it was conducting an investigation. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA senior banker who resigned from Moelis last week after a viral video showed him punching a woman was arrested on assault charges Monday morning. This story is available exclusively to Business Insider subscribers.
Persons: Jonathan Kaye, Kaye, Banker Kaye, , Perry Organizations: Moelis, Service, New York Police Department, Brooklyn District, Business
Read previewElon Musk just hinted at how much it cost to make his AI chatbot Grok. Knowing how many H100 GPUs Musk is getting allows us to do some napkin math to figure out a rough estimate of the cost. Mark Zuckerberg said in January that Meta will have purchased about 350,000 Nvidia H100 GPUs by the end of 2024. Aravind Srinivas, founder and CEO of AI startup Perplexity, talked about getting turned down by a Meta AI researcher he was trying to poach in part because of Zuckerberg's huge collection of AI chips. 'Come back to me when you have 10,000 H100 GPUs,'" Srinivas said.
Persons: , Elon, chatbot, Hopper, Musk, Nicolai Tangen, xAI, Mark Zuckerberg, Meta, Aravind Srinivas, Srinivas Organizations: Service, Business, Nvidia, Twitter, Meta Locations: Silicon Valley
Read previewYou may have heard a version of the phrase, "AI won't take your job, it's somebody using AI that will take your job." Should you be more worried about losing your job to a human using AI or to the AI itself? He said software engineers who didn't experiment with AI tools usually didn't get the job. He asks all new hires what AI tools they use. "I think that the same is true of some of these basic, AI tools," he added.
Persons: , Richard Baldwin, Baldwin, it's, Jasmine Escalera, LiveCareer, Matt Betts, Morgan Stanley, Klarna, Mira Murati, Carl Benedikt Frey, Goldman Sachs, Escalera, Steve Kaufer, Logan Bartlett, Kaufer, Miller Organizations: Service, Growth, Business, Bain & Company, RHR, MIT, Stanford, IBM, Oxford University, Empire Entertainment
Read previewA Tesla owner said he crashed his new Cybertruck into a neighbor's yard within the first few hours of driving it — and he said it's because the vehicle's brakes didn't work. The owner, Bruce Freshwater, told BI that the crash happened on April 27 after he picked up the Cybertruck. That car then ran into a second vehicle, Freshwater told the police in the report, which BI has viewed. AdvertisementFreshwater's Cybertruck, along with one of the neighbor's vehicles, sustained "disabling damage," according to the police report. Freshwater told BI that he still makes car payments every month on a vehicle he isn't using.
Persons: , Bruce Freshwater, Freshwater, Freshwater's, Freshwater Freshwater, Tesla, he's, Cybertrucks, I'm Organizations: Service, Business, Police Department, BI, Tesla, National, Traffic Safety Administration, NHTSA Locations: Fayette, Pennsylvania
Airbnb CEO Brian Chesky said the "worst moment" of Sam Altman's ousting happened around midnight. Chesky said Altman expected to get reinstated but OpenAI then announced Emmett Shear as CEO. Altman planned to go to Microsoft but Chesky said his friendship with Shear helped open a dialogue. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But the hardest moment happened at midnight about two days in, according to an interview with Airbnb CEO Brian Chesky on CNBC.
Persons: Brian Chesky, Sam Altman's, Chesky, Altman, OpenAI, Emmett Shear, Shear, , Sam Altman Organizations: Microsoft, Service, CNBC, Business Locations: OpenAI
A number of Big Tech companies have laid off staff this year, including Google, Tesla, Apple, and dozens more. Ironically, companies haven't been slowing down on innovation, with many releasing a constant stream of AI updates and product launches. Mark Zuckerberg shared his theory on the first round of industry-wide layoffs in an interview with "Morning Brew Daily" in February. AdvertisementSalesforce CEO and cofounder Mark Benioff also relayed the same sentiment in a letter to employees announcing layoffs in 2023. But for the moment, tech companies don't seem to be slowing down on AI advancement.
Persons: , Mark Zuckerberg, Jason Citron, Sundar Pichai, Mark Benioff, Zuckerberg, Emily Chang, Wayfair's cofounders, Niraj Shah, Steve Conine, Jobs, Satya Nadella, Arvind Krishna, Drew Houston Organizations: Service, Big Tech, Google, Apple, Business, Bloomberg, ARM, IBM, Dropbox Locations: Zuckerberg's
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. Huang also failed to mention during the meeting when exactly the company's next-generation AI chip, Blackwell will become available, although he said it would be "the most successful product" in Nvidia's history. Nvidia serves over five million developers and 40,000 companies, including thousands of AI companies. Nvidia declined a request for comment from Business Insider.
Persons: , it's, Jensen Huang didn't, Sam Altman, Elon Musk, Huang, Blackwell Organizations: Service, Microsoft, Business, Google, Nvidia
Read previewBefore Ami Vora became a Meta VP, she worked as a temporary employee in Facebook's PR department and slept on couches. Vora spoke about how she got her first job at Facebook on an episode of "Lenny's Podcast" published Sunday. The ex-Meta exec ended up becoming VP of product at Facebook, and VP of product and design at WhatsApp. "This wasn't exactly what I'd been hoping for," Vora wrote in her post. Vora would later become a director at Instagram, VP of product at Facebook, and VP of product and design at Whatsapp, according to her LinkedIn.
Persons: , Ami Vora, Vora, couldn't, I'm Ami, I'd Organizations: Service, Facebook, Meta, Business, Microsoft, Lean Locations: Silicon Valley, New York, Palo, San Francisco, California, Whatsapp
Rizz, an AI-powered app that generates pickup lines and responses, now has a "Decode" feature that analyzes screenshots from your conversations. AdvertisementThe "Decode" feature often recommends meeting up. That limits the effectiveness of the "Decode" feature and suggestions for how to respond. Gemini has the option to upload screenshots so it provided the most similar type of service, but it was more thorough and offered a deeper analysis with action items. Character.AI doesn't offer the ability to upload screenshots, so instead I came up with an imaginary scenario and asked it how to respond.
Persons: , Rizz, Roman Khaves, Khaves, I've, Rizz Khaves, hasn't, aren't, chatbot, Gemini Organizations: Service, Business
Banker Jonathan Kaye has left Moelis after a video appeared to show him punching a woman at a Pride event. Kaye was placed on leave after a video of the incident went viral on social media. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA senior Moelis banker who appeared to punch a woman at a Brooklyn Pride event earlier this month has left the company, according to a Bloomberg report. The banker, Jonathan Kaye, was in charge of the investment bank's global business services franchise.
Persons: Jonathan Kaye, Kaye, Organizations: Service, Bloomberg, BI, Business Locations: Gaza, Brooklyn
Read previewNetflix overhauled its famous culture memo — and that means a new line added about its "keeper test" used by managers to determine if they should fire an employee. Netflix has long been known to operate its business like a sports team, not a family, and the keeper test is part of that culture. AdvertisementThe keeper test has since evolved to, "If X wanted to leave, would I fight to keep them?" Related stories"In the abstract, the keeper test can sound scary," Netflix says in the latest version of its culture memo. In the abstract, the keeper test can sound scary.
Persons: , X, Reed Hastings, Greg Peters, Peters Organizations: Service, Business, Netflix
So about six months ago, I quit my job as a Cloud space architect at Google to create an AI recruiting platform to help people land their dream jobs. Our conversational AI recruiter "Buddy" conducts custom simulated video interviews for job applicants based on the company's preferences, culture, and technical needs. Our vision is to scale "Buddy" to become every job seeker's companion to prepare for job interviews. Begin the interview with small talkStarting with small talk may help the interviewer remember you later on. Don't follow up right after the interviewDon't follow up with a recruiter right after the interview and don't contact them more than twice.
Persons: , Rihab Lajmi, Buddy, we've, I've Organizations: Service, BI, Facebook, Apple, Netflix, Google, Business, Microsoft Locations: Germany
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