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☆ DeSantis echoes Trump in latest offense against the media after taunting the former president during live TV roundtable
▼ + stars: | 2023-02-07 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +9 min

Ron DeSantis won't be the Republican to give the party's response to President Joe Biden's forthcoming State of the Union Address. The broadcast echoed the media ire former President Donald Trump frequently has on display. "To assassinate someone's character with anonymous sources would have been a total no-no," DeSantis said of past media practice. Like Trump, DeSantis often bemoans his media coverage and excoriates what he calls the "corporate press." Despite raising his tussles with the press, DeSantis insisted non-politicians would be the focus of new libel laws.

☆ Biden to take aim at junk fees in Competition Council meeting Wednesday
▼ + stars: | 2023-02-01 | by ( Dj Judd | ) edition.cnn.com time to read: +3 min

CNN —President Joe Biden is slated to announce new progress on his administration’s “competition agenda” during the fourth meeting of the Presidential Competition Council on Wednesday, taking steps to slash junk fees while calling on Congress to pass legislation targeting hidden and exorbitant fees across the travel, entertainment, utility and hospitality industries. Rohit Chopra, director of the Consumer Financial Protection Bureau, said Biden will announce that the CFPB will propose a rule slashing excessive credit card late fees in a move the White House says will reduce those fees from $30 to $8 on average, saving American consumers as much as $9 billion a year. “Over a decade ago, Congress banned excessive credit card late fees, but companies have exploited a regulatory loophole that has allowed them to escape scrutiny for charging an otherwise illegal junk fee,” Chopra said in a statement to CNN. “Today’s proposed rule seeks to save families billions of dollars and ensure the credit card market is fair and competitive.”On a call with reporters Tuesday, National Economic Council Director Brian Deese said Biden will also use the meeting to call on Congress to pass a “Junk Fee Prevention Act,” targeting four types of excessive fees — excessive online concert, sporting event, and entertainment ticket fees; airline fees for families sitting together on flights; exorbitant early termination fees for TV, phone and internet services; and surprise resort and destination fees. “But they also reduce competition and make it more difficult for innovators and new businesses to break into markets and offer better services at lower prices.”Earlier this year, lawmakers grilled Live Nation president and CFO Joe Berchtold following a ticket sales debacle over exorbitant ticketing fees.

☆ Rivian orders placed after 20% price hike appear to jump the line, angering early order-holders
▼ + stars: | 2023-02-01 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com time to read: +3 min

Some R1S SUV orders placed after March 2022 — when Rivian hiked prices about 20% — are now slated to be filled before less-expensive orders placed earlier, according to customer posts on Twitter and in company forums, and orders reviewed directly by Insider. This is at least the second time Rivian has faced backlash from its early customers over changes to their orders. When Rivian announced the price hike, the move originally included customers with pre-existing configured orders and deposits in place. Now it appears that the orders placed after the price hike are getting priority. That means that quad-motor R1S orders, placed before the price hike, cost less than dual-motor R1S orders placed after it.

☆ Google's testing potential ChatGPT rivals including a homegrown AI chatbot called 'Apprentice Bard': CNBC
▼ + stars: | 2023-02-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Google employees are testing potential ChatGPT rivals — like its own AI chatbot called "Apprentice Bard," per CNBC. Google employees are testing potential challengers to viral AI chatbot ChatGPT — including its homegrown chatbot "Apprentice Bard" — CNBC reported on Tuesday, citing sources and internal communication seen by the publication. Apprentice Bard appears to work in a way that's similar to ChatGPT, as users can ask a question in a dialog box and get an answer in response, per CNBC. In fact, Google's revenue increased by 34% in 2021, and the company's stock price has risen by 70% since January 2022," Apprentice Bard responded, per the media outlet. Other than the Apprentice Bard, Google is also testing other AI-powered products, including a search page.

☆ Arizona throws out one of the first lawsuits seeking to block Biden's student-loan forgiveness
▼ + stars: | 2023-01-23 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

Arizona's new Democratic attorney general dismissed a lawsuit seeking to block student-debt relief. It was the third lawsuit filed that attempted to block the relief, and on Friday, Arizona's new Democratic attorney general Kris Mayes dismissed the case. Mayes took office earlier this month, and she indicated that she would be reviewing whether to continue her predecessor's legal challenge to Biden's broad debt relief. Two other lawsuits succeeded in pausing the implementation of Biden's debt relief, and those cases are now headed to the Supreme Court, which will hear the oral arguments on February 28. One of the lawsuits was filed by six Republican-led states who sued because they argued the debt relief would hurt their states' tax revenues, along with that of student-loan company MOHELA.

☆ The Taliban bought Twitter's $8 a month blue ticks. They appear to have been removed after outrage.
▼ + stars: | 2023-01-18 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The Twitter accounts of at least two Taliban officials were sporting blue ticks on Monday, per the BBC. That sparked an outrage and by Tuesday, the ticks appear to have been removed. The BBC reported Monday that the Twitter accounts of at least two Taliban officials and four well-known supporters of the regime were sporting the checkmarks. It's unclear if Twitter removed the blue badges from the Taliban-linked accounts, or if the account owners unsubscribed from the Twitter Blue service. Twitter Blue is a paid subscription service that charges users for a blue checkmark next to their account names and offers early access to certain features.

☆ 18 movies with valuable entrepreneurial lessons: From 'Startup.com' to 'Becoming Warren Buffett'
▼ + stars: | 2023-01-17 | by ( Vikas Jha | ) www.businessinsider.com time to read: +21 min

Takeaway: This movie shows the effect money, greed and power can have on relationships. "The Social Network" (2010)"The Social Network" shows us that business success requires more than just a great idea. "Becoming Warren Buffett" (2017)In this documentary, Warren Buffett reveals his day-to-day, and his two most important investing rules. Takeaway: This movie shows how two young men were pitted against each other, striving to grow in a cut-throat business. I've found myself feeling motivated after watching a great film with lessons I can transpose to my entrepreneurial journey.

☆ The biggest security pros and cons of using Bluetooth GPS trackers
▼ + stars: | 2023-01-14 | by ( Kaitlin Balasaygun | ) www.cnbc.com time to read: +10 min

Bluetooth tagging devices are catching on, and keeping an eye out on the world in ways never before possible. For pet owners, these GPS devices can be used as a cheaper alternative to microchipping your dog. Here are some basics to know about Bluetooth tags if you're using one already, or considering adding one to your tech-enabled life. "The problem with Bluetooth trackers … is there's no way to prevent a victim from being stalked by one of these devices because they don't control it. Two women recently filed a class-action lawsuit against Apple alleging lack of protections the AirTag has against stalking.

☆ Marc Benioff may be right that Salesforce's young, remote employees are hurting the company's productivity. But it's not their fault.
▼ + stars: | 2023-01-10 | by ( Shana Lebowitz | ) www.businessinsider.com time to read: +4 min

Salesforce's CEO said the company's younger, remote workers may be less productive than their peers. It's possible that Salesforce's younger, remote employees are less productive than the rest of the staff. But it's unlikely that the problem is remote work itself, or the work ethic of remote employees, based on the growing body of research on flexible work. The problem isn't remote work — it's how remote workers are managedBut Salesforce's problem probably isn't necessarily that it permits remote work. On the other hand, Neeley wrote, leaders who micromanage their employees' time "are the kiss of death in hybrid work."

☆ I asked ChatGPT to write my cover letters. Multiple hiring managers say they would have given me an interview but the letters lacked personality.
▼ + stars: | 2022-12-29 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

An updated version of the AI chatbot, ChatGPT, was recently released to the public. Most of the managers would have given me a screening call but said the letters lacked personality. A new version of an AI chatbot from OpenAI, ChatGPT, has had the internet in a frenzy over the last few weeks. Cover letters, although widely hated, are still one of the more time-consuming requirements for most applications. The letters lacked personalityBoth Willsher and Petry said the letters lacked personality and research about the prospective companies.

☆ 'A lone Trump-appointed judge in Texas' should not have the ability to block student-loan forgiveness for millions of Americans, says a Democratic lawmaker introducing a bill to stop it from happening
▼ + stars: | 2022-12-27 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

His new bill would channel that authority to D.C. courts and the Supreme Court only. "Although the Biden administration has appealed this ruling, its long-overdue student debt relief program will now, at a minimum, be stalled for many months," Jones wrote. Two federal courts have so far succeeded in blocking Biden's plan to cancel up to $20,000 in student debt for federal borrowers. Some Republican lawmakers have lauded those rulings because they have consistently argued Biden does not have the authority to cancel student debt broadly without Congressional approval. Now, the fate of this debt relief rests with the Supreme Court as it will begin to hear arguments on February 28 as to whether Biden can move forward with the loan forgiveness.

☆ Rolex watches have outperformed gold, real estate, and stocks over the past 10 years, and sellers believe their future value will continue to deliver
▼ + stars: | 2022-12-21 | by ( Dominick Reuter | Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Prices for luxury watches like Rolex, Patek Philippe, and Audemars Piguet skyrocketed in 2022. Demand for second-hand luxury watches will likely stay high next year, according to Chrono24 founder Tim Stracke. Around 14% of the platform's sales come from Rolex watches, and 80% of those are pre-owned. "The new programme makes it possible to purchase pre-owned watches that the brand itself has certified and guaranteed. Its aim is to bring added value to the existing supply of pre-owned Rolex watches.

☆ Researchers find new biomorphs hidden within Peru's mysterious Nazca lines
▼ + stars: | 2022-12-20 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +5 min

Japanese researchers and Peruvian archeologists have discovered new geoglyphs in the Nazca lines. A general view shows one of the Nazca lines images found in the Nazca plain as part of research led by Peruvian and Japanese researchers from Yamagata University. A general view shows one of the Nazca lines images found in the Nazca plain as part of research led by Peruvian and Japanese researchers from Yamagata University. A general view shows one of the Nazca lines images found in the Nazca plain as part of research led by Peruvian and Japanese researchers from Yamagata University. A general view shows one of the Nazca lines images found in the Nazca plain as part of research led by Peruvian and Japanese researchers from Yamagata University.

☆ 'Shark Tank' host and FTX investor Kevin O'Leary defends Sam Bankman-Fried for demise of his cryptocurrency exchange
▼ + stars: | 2022-12-17 | by ( Bethany Biron | ) www.businessinsider.com time to read: +3 min

Kevin O'Leary said he previously made $15 million as a brand ambassador for FTX. The "Shark Tank" host testified to the Senate Banking Committee earlier this week about his involvement with the company. O'Leary is among several celebrity defendants listed in a class-action lawsuit from FTX investors. "[New FTX CEO] John Ray doesn't have them yet. In the same interview, O'Leary also defended himself against comments from Binance CEO Changpeng Zhao, who called the "Shark Tank" television host a "liar."

☆ Buzzy clothing brand Something Navy owed an Indian supplier $364,000 — and didn't pay the full balance until we started reporting on it
▼ + stars: | 2022-12-10 | by ( Katie Warren | Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

It only paid one supplier in full right after Insider started reporting a story about delayed payments. According to Warren's correspondence with the supplier, Something Navy paid the remaining $20,000 it owed on Tuesday, just days before Insider's story was published. Murarka finally received the payment in full around the same time the other supplier received his payment, Insider reported. Former Something Navy told Insider that they've been caught in a flood of emails since the spring from suppliers asking about late payments. A Something Navy representative claimed that all outstanding payments referenced in Insider's story were made before Insider provided the company with fact-checks last week.

☆ Fashion brands can't keep up with the latest trends because of supply-chain chaos — and it's one more reason everything's on sale
▼ + stars: | 2022-12-02 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +4 min

Victoria's Secret execs said supply-chain woes meant it couldn't chase trends, adding to the pileup. Brands like Nike, Kohl's, and Ralph Lauren were laser-focused on shaving days and even weeks out of their lead times to be more responsive to consumer preferences. In 2017, Nike was trying to get 60-day lead times down to 10 days. Brands can't chase trends successfully if they lack any semblance of certainty on when goods will arrive — the pandemic certainly stripped that away. Victoria's Secret's chief financial officer, Tim Johnson, said on a Thursday earnings call that the company should regain the supply-chain confidence to chase trends next year.

☆ Chinese stocks rally after the country's top pandemic official signals a softening of the country's draconian Covid-zero stance
▼ + stars: | 2022-12-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Vice Premier Sun Chunlan said China's pandemic is at a "new stage" that comes with new tasks. Sun's words carry weight as she's the face of China's hardline Covid-zero approach. Hong Kong and Chinese stocks are higher on optimism China is eyeing an exit from a Covid-zero policy. Sun's softening on China's draconian Covid-zero stance carries weight because she's seen as the face of the hardline approach. As the world's second-largest economy after the US, China has been under pressure from pandemic restrictions that are into their third year.

☆ Biden's student-loan forgiveness remains blocked after another federal court rejects the administration's attempt to revive its debt relief
▼ + stars: | 2022-12-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

It was in response to Biden's appeal to the court after a Texas judge blocked the relief. Separately, the Supreme Court is expected to rule on an 8th Circuit decision also blocking relief. On Wednesday night, a three-judge panel in the 5th Circuit Court of Appeals ruled that it would not grant the Biden administration's request to pause a district court decision that blocked the implementation of student-loan forgiveness. The Supreme Court has not yet issued a decision on whether it will grant the Biden administration's request to revive debt relief for millions of borrowers. Now, the fate of student-debt relief appears to rest at the Supreme Court.

☆ Apple restricted AirDrop capabilities in China ahead of anti-government protests, leaving dissenters without key communication tool as demonstrations spread
▼ + stars: | 2022-11-27 | by ( Bethany Biron | ) www.businessinsider.com time to read: +2 min

Apple limited the use of AirDrop tools in China earlier this month ahead of anti-government protests. The restrictions, which limit sharing via AirDrop to up to 10 minutes, are exclusive to China. Demonstrations erupted across the country this weekend in response to strict zero-COVID policies. Typically, users can opt to receive AirDrop content from everyone for an unlimited period of time. Earlier this month, the company told Bloomberg it intends to roll out the setting globally to prevent unwanted file sharing.

☆ Stocks making the biggest moves midday: Apple, Manchester United, Activision Blizzard and more
▼ + stars: | 2022-11-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022. Apple — Apple's stock shed 2% on Friday after protests occurred at the iPhone maker's major Foxconn supplier in China earlier this week. Activision Blizzard – Shares of the video game company slid more than 4% after Politico reported the Federal Trade Commission is likely to sue to block Microsoft's $69 billion acquisition of Activision Blizzard. Manchester United — Manchester United's stock surged 12.8%, building on this week's earlier gains following news that the soccer team's owners are weighing a potential sale. Canoo – The electric vehicle company's stock price traded 4.6% higher after a Securities and Exchange Commission filing revealed that CEO Tony Aquila purchased shares.

☆ Elon Musk — who said Twitter would be the 'most accurate' — apparently snubs Jimmy Fallon's plea to stop #RIPJimmyFallon from trending
▼ + stars: | 2022-11-16 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +2 min

Jimmy Fallon pleaded for Elon Musk to stop the false #RIPJimmyFallon from trending on Twitter. Musk tweeted back to Fallon on Wednesday morning as the hashtag was still trending. #RIPJimmyFallon," Fallon tweeted Tuesday night as the hashtag began trending like wildfire. It was not immediately clear how #RIPJimmyFallon began trending, but some Twitter users said it started with a tweet showing fellow late-night TV host James Corden with the words: "Gone but not forgotten. Early Wednesday, it sent out another tweet, saying: "Since this is seriously blowing up, thought I'd just comment that this is satire.

☆ Battle over the iPhone app store spills into appeals court
▼ + stars: | 2022-11-15 | by ( Associated Press | ) www.nbcnews.com time to read: +3 min

The 75-minute session was a prelude to an expected ruling by the appeals court, likely to be issued sometime next year. A so-called “walled garden” protecting the iPhone app store includes a payment system that funnels Apple commission revenue ranging from 15% to 30% on the purchases of some subscriptions and other digital services through its storefront. “The only thing that is kept out by Apple’s walled garden is competitors,” Goldstein said. Apple lawyer Mark Perry defended that walled garden as an indispensable feature prized by consumers who want the best protection available for their personal information. “I am too lazy to switch,” McShane said.

☆ Billions of dollars seem to have disappeared with the collapse of FTX. How does that even happen?
▼ + stars: | 2022-11-14 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The implosion of the FTX crypto exchange vaporized billions of dollars overnight. The disaster is being called crypto's Lehman Brothers moment, but Lehman had more than $600 billion in real assets that were salvageable. Sure, Lehman Brothers equity investors were completely wiped out, as will be the investors in FTX, but that's the risk equity investors assume when they buy in. According to a report from the Financial Times, FTX held less than $1 billion in liquid assets against $9 billion in liabilities. Compare that to Lehman Brothers going bankrupt with $639 billion in assets against $613 billion in debts.

☆ The fate of Biden's student-loan forgiveness rests in the federal courts after neither party looks likely to gain a significant majority in the midterms
▼ + stars: | 2022-11-12 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

That means that the fate of President Joe Biden's student-loan forgiveness doesn't lie in the hands of lawmakers, but rather, the federal courts. "We are disappointed in the decision of the Texas court to block loan relief moving forward. Amidst efforts to block our debt relief program, we are not standing down," he added. The department also aims to roll out improvements to targeted loan forgiveness programs, like Public Service Loan Forgiveness, by next summer. "It must use all of its tools to fight to ensure that borrowers receive the debt relief they need."

☆ A federal judge just struck down Biden's student-loan forgiveness plan — the most serious legal setback for the debt relief so far
▼ + stars: | 2022-11-11 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

A federal judge in Texas struck down Biden's student-loan forgiveness on Thursday. It's in response to a lawsuit filed by two student-loan borrowers who didn't qualify for the relief. This is the most serious legal setback to Biden's debt relief so far. This was in response to a lawsuit filed by two student-loan borrowers, Myra Brown and Alexander Taylor, represented by conservative group the Job Creators Network, who sued because they were left out of debt relief. "Today, a federal judge conspired with right-wing politicians and corrupt corporations to block life-changing student debt relief for tens of millions of families," executive director of advocacy group Student Borrower Protection Center Mike Pierce said in a statement.

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