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AdvertisementCompetition from driverless taxis could reduce Uber and Lyft drivers' earnings in the years to come. Many drivers told BI that the gig has become less profitable recently due to increased competition. As the adoption of driverless taxis spreads across the US, ride-hailing experts told Business Insider that Uber and Lyft drivers could see their earning opportunities slowly deteriorate. Garin said that many ride-hailing drivers work part-time and don't rely on the gig as their primary source of income. A Lyft spokesperson did not respond to BI's question about the impacts driverless taxis could have on ride-hailing drivers.
Persons: Carl Benedikt Frey, Frey, Waymo, Uber, robotaxis, Andrew Garin, Garin, who've, Lyft, Sergio Avedian, Guy, Bernstein, Nicole Moore, Lindsey Cameron, we've, we're Organizations: Oxford Internet Institute, Drivers, Carnegie Mellon University's Heinz, Atlanta, Phoenix, Mobileye, Wharton School, University of Pennsylvania Locations: San Francisco, Phoenix, Las Vegas, Los Angeles, Austin, Aurora, China
Still, Atomico said this shows that European tech funding levels have finally "stabilized" despite worsening global macroeconomic conditions leading to three consecutive years of declines. In the period spanning 2015 to 2024, European startups have bagged $426 billion, dwarfing the sum of investment deployed into tech firms the decade prior. Europe's first $1 trillion tech firm? Atomico said it's optimistic about the next decade in European tech. The VC firm, which was established by Skype co-founder Niklas Zennström, is predicting the entire European tech ecosystem combined could be valued at $8 trillion by 2034, up from around $3 trillion currently.
Persons: Reeves, Oli Scarff, Atomico, Tom Wehmeier, Wehmeier, Europe's, Rachel Reeves, techUK, Niklas Zennström Organizations: Startup Coalition, Getty Images Venture, European Tech, CNBC, VC, Skype, Spotify, Google, Apple, Facebook, Meta, Microsoft, Nvidia, Tesla Locations: British, State, Europe, U.S, China, Atomico, United States
AdvertisementHeadquartered in Long Beach, California, Rocket Lab employs over 2,000 people globally. It's an "end-to-end space company," providing launch services, spacecraft, satellite components, and on-orbit management. Rocket Lab is valued at a fraction of that, with a market cap of around $9.5 billion. He said that's the nature of who he is — and the job of running a rocket company. AdvertisementBeck describes running a rocket company as "running through a maze in the middle of the night."
Persons: Peter Beck, Beck, Elon Musk, you've, Donald Trump, Trump, David, faze Beck, Virgin, Virgin Orbit, Jeff Bezos, Rutherford, Ernest Rutherford, We've, we've, doesn't, Beck doesn't, blissfully Organizations: SpaceX, Rocket, Department of Government, Lab, Rocket Lab, New Zealand Locations: New Zealand, Long Beach , California
AdvertisementNicole Sunderland has been to all 50 US states and has a few suggestions for first-time visitors. Michigan, Florida, Alaska, Hawaii, and Utah are her top picks for first-time visitors. From lush forests to scenic seaside drives and iconic skylines, the US has something for every type of traveler. With visitors able to experience multiple landscapes in one trip, it's no surprise the country was touted as the top tourism destination in the World Economic Forum's Travel & Tourism Development Index 2024. If you're a first-time visitor in need of some inspiration, here are five states you could add to your itinerary for a mix of popular and off-beat experiences, according to Nicole Sunderland.
Persons: Nicole Sunderland, it's, Nicole Sunderland —, , she's Organizations: Tourism, United States Travel Association's, Sunderland, Business Locations: Michigan, Florida, Alaska, Hawaii, Utah, Portland , Oregon, New York, Boston, San Francisco, America, California
Many new Bluesky users are praising the feeling on the site as being similar to "old Twitter." This week, the app shot to the top of Apple's App Store and Google's Play Store, and a Bluesky spokesperson told Business Insider it hit 18.3 million registered users. Advertisement"Consumers, time and time again, show us that they will put a brand in jeopardy if the leadership is associated with ideology the consumers don't care for," Lind told Business Insider. A spokesperson for Bluesky told Business Insider that the platform aims to give users more choice and offer creators independence from being locked into specific platforms. A few weeks ago, Bluesky had less than 1 million daily users in the US, "so the acceleration is tremendous," said David Carr, an editor at Similarweb.
Persons: Bluesky, Elon Musk's, Jonathan Bellack, Mark Cuban, he'd, That's, Stephen Lind, Lind, We've, Jack Dorsey, Twitter, Dorsey, David Carr Organizations: Social, Business, Applied Social Media, Cuban, Meta, USC Marshall School of Business, Bluesky, Twitter Locations: Similarweb
Veteran investor Howard Marks said he was hopeful about China's economy, but cautioned that the country's growth target was a monumental challenge. China has set a growth target of "around 5%" for 2024, though Bank of America and Citigroup, among others, have projected the world's second-largest economy will grow at under 5%. The World Bank has pegged China growth in 2024 at 4.8%, and expects it to decline further to 4.3% next year, despite a recent slate measures to boost the economy. The World Bank cited headwinds such as sluggish Chinese consumer spending, a struggling property market and an ageing population as key concerns for the world's second-largest economy. "You can't produce economic growth through stimulus perpetually.
Persons: Howard Marks, Marks, CNBC's Emily Chan, it's, Donald Trump's, Xi Jinping Organizations: Oaktree Capital Management, Global Financial, Investment Summit, Hong Kong Monetary Authority, Bank of America, Citigroup, Bank, People's Bank of China Locations: China
Robert F. Kennedy Jr.'s proposed appointment to lead the US Department of Health and Human Services could have big consequences for a booming weight-loss market. AdvertisementHis likely appointment comes at a pivotal moment for the weight-loss industry, as long-lasting shortages of drugs like Ozempic come to an end. When Farmbox launched in 2014 to deliver healthy food boxes and educate consumers about nutrition, "nobody wanted to invest in us," Tyrner-Dolce said. Doug Mills-Pool/Getty ImagesKennedy's crusade against Big Food could run up against Trump's pro-corporation agenda, though. AdvertisementWeight-loss companies could get more attention — at a costKennedy's focus on holistic chronic disease care, including obesity care, could see a renewed funding rush to the space.
Persons: Trump, Robert F, Kennedy Jr, Kennedy, he's, Obama, Ashley Tyrner, Dolce, Farmbox, FarmboxRx, Michelle Obama, SAUL LOEB, Kennedy's, Jeff Nobbs, Nobbs, Doug Mills, Elon Musk, Donald Trump Jr, podcaster Joe Polish, Brooke Boyarsky Pratt, There's, Knownwell Pratt, Pratt, John Stanford Organizations: Human Services, US Department of Health, National Institutes of Health, Food and Drug Administration, Trump, Big Pharma, Senate, Novo Nordisk, Centers, Medicare, Services, Getty, Street, Department of Health, US Department of Agriculture, Shack, Business, Big Food, Trump's, KFC, McDonald's, Fox, FDA, Moderna Locations: Pennsylvania, Washington
Advertisement"Wicked," directed by Jon M. Chu, is a film adaptation of the iconic stage musical — well, just act one. Directed by Jon M. Chu ("Crazy Rich Asians") and starring Broadway and pop music's biggest legends — Cynthia Erivo and Ariana Grande, respectively — "Wicked" is a stunning act of adaptation. The stage musical version is also an adaptation, the looser kind, of Gregory Maguire's novel of the same name. AdvertisementAs in the stage musical, Glinda lends Elphaba the ugliest hat in her closet for a party. In the end, though, "Wicked" is one of the best musical adaptations recently put to screen.
Persons: Jon M, Chu, Cynthia Erivo, Ariana Grande's, It's, Broadway, Ariana Grande, Gregory Maguire's, Dorothy's, Glinda, Winnie Holzman, Dana Fox, Ariana, Giles Keyte, Erivo, doesn't, She's, Grande, aplomb, Jonathan Bailey, sycophants, Bowen Yang, Bronwyn James, Oscar, , it's, Elphaba, — it's, Peter Dinklage, Michelle Yeoh, Jeff Goldblum Organizations: Shiz University, Broadway, Universal Pictures, Universal
They were initially 50/50 about having children; now, they're sure they want to remain childless. On my first date with my husband, Rohan, we discussed whether we wanted kids. Seeing our friends have kids changed our decisionPrior to this relationship, I'd been engaged when I was 19 to a man I knew wanted kids. AdvertisementWith my now-husband, seeing our friends have kids and how that looked for them changed our minds about having kids. AdvertisementThere are benefits to not having kids, but friendships have changedWe already feel the benefits of not having children.
Persons: Jasmine Parasram, They've, Rohan, neurodivergent, I've, I'd, We'd, , We've, we've, We're, who've, it's Locations: Melbourne, Australia
AdvertisementTwo safari travel agents shared common mistakes travelers make on their first visit to Africa. The average vacationer spends between $5,500 and $6,500 on a safari, according to travel company Go2Africa's 2023 safari report. AdvertisementWhile Meg van Niekerk, a safari planner for Go2Africa, said that's not always the case, she added that it's impossible not to fall in love with the vacation style. Van Niekerk and Shaun Stanley, the owner and founder of the luxury safari planning company Stanley Safaris, shared with Business Insider some common mistakes travelers can avoid on their first safari vacation. Van Niekerk connects with her clients via WhatsApp, so if I flight is delayed or something goes wrong, she's just a message away.
Persons: Meg van Niekerk, that's, Van Niekerk, Shaun Stanley, Stanley Safaris, Monica Humphries, Stanley, we've, overtourism, it's, van Niekerk Organizations: Business, Mara, Reserve Locations: Africa, Kenya, Tanzania, South Africa, Botswana, Central Serengeti, Republic of Congo
AdvertisementThe US Navy's sole aircraft carrier in the Middle East left the region over the weekend. The US is now without a carrier in the volatile Middle East for the first time in a while. An E/A-18G Growler launches from the flight deck of the aircraft carrier USS Abraham Lincoln in October. AdvertisementUSNI News first reported on Monday the Lincoln's departure from the Middle East. AdvertisementThe aircraft carrier USS Abraham Lincoln prepares to conduct a replenishment-at-sea with the destroyer USS Frank E. Petersen Jr. in November.
Persons: Abraham Lincoln, Arleigh Burke, Frank E, Petersen, Michael Murphy, Spruance, Theodore Roosevelt, Dwight D, Eisenhower, Lincoln, Harry S, Truman, Defense Lloyd Austin, Pat Ryder, Austin Organizations: Navy's, East, US Navy, Business, Fleet, Lincoln, US, Pentagon, Israel, Defense, US Air Force, Navy, Hamas Locations: Lincoln, Iran, Portugal's, Gulf of Aden, Israel, Gaza, Lebanon
There's a hero we need: Pop Crave. Bluesky has seen explosive growth in the last few weeks — hitting 20 million users. What Bluesky has right now is a ton of new users, mostly of a certain type — the brainiac set. However, there is a Pop Base account — a competitor to Pop Crave. Pop Base confirmed to me that they're on Bluesky — they said they joined in 2022 but only started posting regularly in the last few weeks.
Persons: it's, Bluesky, Elon Musk's, Donald Trump, — brainiacs, Max Read, Sabrina Carpenter stan, , Olivia Rodrigo Organizations: Twitter, Pop Base Locations: Bushwick, Brooklyn, Manhattan, Forest Hills, Queens
The return of DCM activity signals that borrowers are gearing up for corporate dealmaking to return. Goldman's global head of financing broke down the trends in an interview with BI. On Wall Street, corporate borrowing is on a roll. Many of those clients are large companies or organizations being advised by Goldman's investment bankers, which means the DCM business is directly reliant on deal flow. AdvertisementGoldman CEO David Solomon ran Goldman's leveraged finance group before taking over its financing business, including debt and equity capital markets and derivatives.
Persons: Goldman Sachs, Donald Trump, Vivek Bantwal, Bantwal, We've, we've, Goldman, David Solomon, David Solomon Jeenah Moon, Denis Coleman, refinancings, weren't Organizations: University of Pennsylvania's Wharton School, Getty, Underwriters, Wall, Bloomberg, Getty Images Goldman, Goldman, Blue
Investors may soon be forced to take on more risk and rethink their diversification strategies due to macroeconomic uncertainties. And that presents challenges for those who follow the traditional balance of 60% stocks to 40% bonds as a diversifier, he added. "Momentum has really been driving equities higher across the board, especially with respect to large-cap growth names," Adams said. The study found that stocks, bonds, and options strategies could have more correlated risk than is evident on the surface. "So value stocks are about the here-and-now, growth stocks are about the hereafter."
Persons: Goldman Sachs, Jon Adams, Adams, Jimmy Chang, Donald Trump, Chang, Nikolai Roussanov, David Kelly, you've, Kelly Organizations: Calamos Wealth, Treasury, Rockefeller, Family, Wharton School, Morgan Asset Management
Frozen food last a lot longer, and a chest freezer allows him to store many different meals at once. Cooking enough to feed a family of four for dinner and have leftovers usually requires preparing multiple big meals a week. AdvertisementFreezer-prepping not only gives his family more flexibility on when or what they eat but also saves Laielli money and time to pursue hobbies — a luxury for a busy parent. He saves money in a few waysLaielli said his freezer burritos total about $2 each. He said he saves money by using a lot of dry goods in his cooking, like beans.
Persons: Tim Laielli, Laielli, He's, Tim Laielli Laielli, sears Organizations: Taco Bell Locations: Texas
AdvertisementMy partner and I started dating while we were long-distance and communicated through phone calls. I realized that I missed talking to my friends this way, and started calling them more often. He preferred talking on the phone over texting, and over time I grew to prefer it, too. AdvertisementWe built our relationship through phone calls, and despite now living together full-time, it's still our preferred way to communicate when we're apart. But interestingly, 45% of men prefer phone calls, compared to only 29% of women.
Persons: There's, it's, I'd, I've, It's Locations: London, Australia, Greece
Elon Musk's government efficiency commission has been tasked with cutting government spending, raising questions about the future of millions of jobs. Business Insider's Ayelet Sheffey and Madison Hoff have a breakdown of the number of employees and salaries at different government departments . Veterans Affairs was the largest employer — 486,522 workers — and more than double the second-biggest department (Homeland Security's 222,539 employees). AdvertisementGovernment jobs' potential reckoning is happening after the public sector got a ton of attention this year. Pay in the public sector largely lags behind private-sector jobs, but that's somewhat offset by good benefits, retirement plans, and job stability.
Persons: Elon, Madison Hoff, Vivek Ramaswamy, Musk, Alice Tecotzky, John L, Dorman, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Department of Education, Veterans Affairs, Department of Government, Social, Medicare, Twitter Locations: Washington , DC, Elon Musk's, New York, Chicago, London
Tech: We're in the middle of a white-collar recession, and tech workers are shouldering much of it . We're in the middle of a white-collar recession, and tech workers . AdvertisementElon Musk's government efficiency commission has been tasked with cutting government spending, raising questions about the future of millions of jobs. Tech jobs are mired in a recession. White collar hiring is in a huge slump, and tech workers are some of the hardest hit .
Persons: Trump hasn't, Tesla, Chelsea Jia Feng, Madison Hoff, Vivek Ramaswamy, Musk, Alice Tecotzky, John L, Dorman, Allison Robbert, Scott Bessent, Cantor Fitzgerald, Howard Lutnick, Marc Rowan, Kevin Warsh, Trump, Goldman Sachs, Morgan Stanley, Natalie Ammari, Uber, Verily, , Rebecca Zisser, Elon Musk, Bluesky —, Jake Paul's, Netflix's Jake Paul, Mike Tyson, wasn't, Donald Trump's, Satya Nadella, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Google, Trump, Tech, Getty, Elon, Department of Education, Veterans Affairs, Department of Government, Social Security, Medicare, Twitter, Getty Government, Allison, Treasury, BCA Research, Goldman, BI, LinkedIn, Microsoft, China Economic, Security, Walmart Locations: Washington , DC, China, Brazilian, New York, Chicago, London
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIn the short-term there's 'good value' in Burberry shares, says hedge fund managerDavid Neuhauser, managing director and founder at hedge fund Livermore Partners, told CNBC that patient investors could benefit from the turnaround taking place at luxury goods maker Burberry. However, in the short-term there is "good value" in the stock, hedge fund manager added.
Persons: David Neuhauser Organizations: Burberry, Livermore Partners, CNBC
"We know lots of people are importing their old posts, and we're excited about that," Liu says. To be honest, I've found it a bit weird to see my old tweets in my new home. To fix that — and to minimize the potential for tampering with old tweets — Bluesky is planning to label posts that are moved over from other platforms. "We're about to ship an update to show old posts that are imported with an archival tag," Liu says. Once I've got all my old tweets unpacked on Bluesky, I'm going to head back over to X and torch my entire archive.
Persons: Elon Musk, Trump, We've, Emily Liu, Nicolas Castellani, Amos da Silva Bezerra, They've, X, Bezerra, Musk, Mastodon, Bluesky, it's, Castellani, Donald Trump, David Shiffman, Liu, backdating, I've, Joe Bak, Coleman, Adam Rogers Organizations: Elon, Bluesky, Twitter, Business Locations: decamp, Canada, Europe, Brazil, Bluesky
Stross is the president and co-founder of Greenhouse, the hiring platform, and has seen a lot of tech and AI advancements in hiring since his business launched in 2012. And so you feel pressure that if you're not applying to tons of jobs, you're falling behind." New tech can enable bad hiring practicesAnother issue is that businesses are leveraging hiring tech to post more job openings, even if they're not for roles they're actively hiring for. Another strategy: Reach out to first- or second-degree LinkedIn connections at companies you're actively applying to. Hiring tech can limit bad actors and highlight positive experiences
Persons: Jon Stross, he's, isn't, Stross, Greenhouse, they're Organizations: Greenhouse, CNBC
Last week, Klarna made a confidential filing to go public in the U.S., ending months of speculation over where the Swedish digital payments firm would list. Still, the development drew buzz from fintech circles with market watchers asking if the move marks the start of a resurgence in big fintech IPOs. For now, that doesn't appear to be the case — however, founders say they'll be watching the IPO market, eyeing pricing and eventually stock performance. Hiroki Takeuchi, CEO of online payments startup GoCardless, said last week that it's not yet time for his company to fire the starting gun on an IPO. However, Zopa's CEO added that he's seeing signs pointing toward a more favorable IPO market in the next couple of years, with the U.S. likely opening up in 2025.
Persons: Hiroki Takeuchi, Zed Jameson, Klarna, they'll, Takeuchi, GoCardless, Lucy Liu, Airwallex, it's, Liu, Jack Zhang, We're, fintech IPOs, Navina Rajan, It's, Rajan, Jaidev Janardana, Janardana, that's Organizations: GoCardless, Bloomberg, Getty, Portugal —, CNBC, Summit, British, U.S Locations: LISBON, Portugal, U.S, Lisbon, Europe
AdvertisementElon Musk and Vivek Ramaswamy are set to co-lead the DOGE in President-elect Trump's second term. In their roles as co-leaders of the forthcoming Department of Government Efficiency, Elon Musk and Vivek Ramaswamy have vowed to "delete" government agencies, much like a line of code. "Or does it mean that a different federal agency will assume the responsibilities of collecting income taxes?" Allison Robbert-Pool/Getty Images"The president can't 'delete' departments — or even almost all of government's subunits. Kettl said that any effort to delete the functions of a department is "an even bigger battle" than trying to delete a department itself.
Persons: Elon Musk, Vivek Ramaswamy, Trump's, Ron DeSantis, Kevin Kosar, DOGE's, Ramaswamy, Donald Trump, Mordecai Lee, aren't, haven't, Kosar, Allison Robbert, Donald Kettl, Elaine Kamarck, Bill Clinton, Kamarck, Kettl, Lee, they've, nix, it's Organizations: Republicans, of Government Efficiency, Elon, Florida Gov, American Enterprise Institute, Fox News, Internal Revenue Service, Federal Bureau of Investigations, Alcohol, Firearms, Tobacco, Department of Education, University of Wisconsin -, Trump, Republican, University of Maryland, Brookings Institute, of Education, Farmers, of Agriculture, USDA, Conservative Locations: Florida, University of Wisconsin - Milwaukee
AdvertisementOpenAI Head of Product Nick Turley said users should experiment with ChatGPT's voice mode. Turley offered chatbot users tips on how to upload documents or make their own GPTs. Many people use ChatGPT to create recipes or write work emails, but OpenAI's Head of Product Nick Turley has some handy tips users might want to try. ChatGPT's voice feature comes in nine human-like voices developed with professional voice actors, which can be changed in the website's settings, according to the company. "It is a completely different way of using ChatGPT," Turley said.
Persons: Nick Turley, Turley, OpenAI, It's, they've, ChatGPT, you've Organizations: Twitter, Pixar, Enterprise
Roofing is also one of the fastest-growing jobs in the U.S., with nearly 15,000 jobs expected to be added each year over the next decade. She launched her own roofing business, B. Barela Construction, in February 2021. Her combined income from running B. Barela Construction and working in real estate is more than $70,000 (she declined to share her exact salary). Ahead of her fourth year in business, Tena says she hopes to scale the business into a full-time career. She attended Santa Fe Community College on and off between 1995 and 2002, waffling between entering business, law or real estate, but never finishing her bachelor's degree.
Persons: Bridgette Tena, Tena, they've, Tena's, Lino Barela, We're, Organizations: CNBC, U.S . Department of Labor, Santa Fe Community College, Realtors Locations: Santa Fe , New Mexico, U.S, Santa Fe, New Mexico, Denver , Colorado, Santa
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