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☆ Monetary vs. fiscal policy: How each works and their impact on the stock market
▼ + stars: | 2024-03-10 | by ( Zev Fima | ) www.cnbc.com time to read: +17 min

In contrast, monetary policy refers to actions taken by a country's authority on money — the Federal Reserve in the U.S. — to reach a desired economic outcome. Fiscal policy and monetary policy are implemented independently, even as one impacts the other. Expansionary fiscal policy combined with contractionary monetary policy. Contractionary fiscal policy combined with expansionary monetary policy. Now consider a situation in which the Fed is easing its monetary policy while Washington raises taxes, thus reducing after-tax income.

Persons: it's, we've, Apple, Jim Cramer's, Jim Cramer, Jim Organizations: Federal, White House, nab, Federal Reserve, U.S, CNBC, Treasury, Fed, Companies, Jim Cramer's Charitable Locations: U.S, Washington

Biden unveiled a plan that includes tax credits and down payment assistance to improve housing affordability. Eligible homebuyers would get this tax credit for two years, meaning you could get a total of $10,000 in tax credits for buying a house. Down payment assistanceAnother piece of Biden's plan for more affordable homeownership is the $25,000 in down payment assistance he wants Congress to provide to first-generation homebuyers. What hopeful homebuyers should knowAs a whole, this plan could substantially improve housing affordability, enabling more Americans to become homeowners. And even for homebuyers who qualify for tax credits or other assistance, saving up for a down payment remains a big barrier to homeownership.

Persons: Biden, —, Dan Green, homebuyers Biden, hasn't, doesn't, Green, Daryl Fairweather, Fairweather, White, homebuyers Organizations: Biden, Service, Federal Housing Finance Agency, Consumer Financial, homebuilders, Loan, Program, Bank of America Mortgage, Democrats

Vizio would no doubt love to reclaim its spot, but the brand's new Quantum Pro 4K QLED TV (VQP65C-84) won't get it there. The Quantum Pro has its advantages, including impressive off-axis viewing and competitive gaming and motion response via its 120Hz panel. Vizio 65-inch Quantum Pro QLED 4K TV Vizio's Quantum Pro is a solid midrange 4K QLED TV with impressive viewing angles for its class. Ryan Waniata/Business InsiderMoving the Quantum Pro from the box to your TV console is relatively simple. Ryan Waniata/Business InsiderGaming with the Quantum Pro is mostly a good time, especially for brighter titles like "God of War: Ragnarok."

Persons: Vizio, Hisense, it's, Ryan Waniata, U7K, Harry Potter, there's, that's, There's, isn't Organizations: Business, Google, Quantum, Shop, Walmart, Dolby, Samsung, Sony, SmartCast, Alexa

☆ Everyone is angry at Germany after a series of snubs and screw-ups
▼ + stars: | 2024-03-06 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +7 min

Leaked German military discussions about sending Taurus missiles to Ukraine have caused discord. It's the latest diplomatic spat related to Germany and aid to Ukraine. After the US, Germany is the country sending the most military aid to Ukraine, at least in terms of volume. A mortifying leakPart of this anger was triggered by Russian state broadcaster RT publishing a 38-minute leaked recording of four German officials discussing how Ukraine could deploy German Taurus missiles. Taurus missiles are — very broadly speaking — Germany's equivalent to the Storm Shadow: powerful, long-range weapons with a strong ability to evade air defenses.

Persons: Olaf Scholz, —, Emmanuel Macron, Le, Ben Wallace, Scholz, Germany —, Der Westen, Dmitry Medvedev, Vladimir Putin, It's, Edward Hunter Christie, — Scholz, Antoine Gyori, Macron, Le Monde, Rafael Loss Organizations: Taurus, Service, RT, German Taurus, Associated Press, Storm, France, Politico, MOD, government's Foreign, France's Ministry of Defence, NATO, Russian Security, Finnish Institute of International Affairs, Macron, Ukraine Challenger, Ukraine, European Council, Foreign Relations Locations: Ukraine, France, Germany, allyship, German, Kerch, Crimea, Korea, Russia, Europe, Macron Germany

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Super Micro, Eli Lilly, Lyft, DoorDash, Disney & more
▼ + stars: | 2024-03-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

UBS upgrades Norfolk Southern to buy from neutral UBS said it sees margin improvement for the railroad. Goldman Sachs initiates Super Micro as neutral Goldman said the stock is an "AI winner" but that valuation is full right now. UBS reiterates Eli Lilly as buy UBS raised its price target on the stock to $910 per share from $810. UBS reiterates Nvidia as buy UBS said it's sticking with its buy rating after a series of investor meetings with the company." Argus upgrades New York Times to buy from neutral Argus said it sees revenue growth for the newspaper company. "

Persons: Morgan Stanley, Disney, Piper Sandler, Piper, Guggenheim, Baird, SQSP, Goldman Sachs, Goldman, Bernstein, Tesla, underperform Bernstein, Eli Lilly, Wells, Melius, Citi downgrades Ferrari, Jefferies, Evercore, it's, Rosenblatt, Snowflake, Slootman's Organizations: BROS, Guggenheim, GSK, UBS, Norfolk Southern, Micro, JPMorgan, Nvidia, Kyverna Therapeutics, FLT, UDR, Conservative, America Health, RBC, Apple, Citi, Ferrari, Jefferies, BP, Barclays, Barclays downgrades, ISI, Toast Inc, Bank of America, Ball Corp, of America, Broadcom, New York Times Locations: Norfolk, China, New

☆ Venture capital firm's plan to buy nonprofit hospital system has Ohio community on edge
▼ + stars: | 2024-03-02 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +17 min

In late 2022, Harrison joined venture firm General Catalyst, which has backed tech highfliers like Stripe, Snap and Airbnb . This is the first holistic transformation of a health system to a thoughtful combination of digital and in-person care." "It just makes people a little nervous, and it doesn't feel quite aligned with this concept of health care being a human right." To revolutionize how we care for patients, we in health care are doing the same." "This is not like a turnaround, this is not a distressed system," Harrison said.

Persons: Marc Harrison, who's, Astrid Stawiarz, Mark Zuckerberg, Elon Musk, He's, screeds, Harrison, Catalyst, HATCo, Fitch, Ceci Connolly, Connolly, She's, Freddy Krueger, John Bass, Bass, he's, Chris Bischoff, Bischoff, it's, Harrison isn't, Michael Greeley, Greeley, Beaumont, Cliff Deveny, hadn't, Deveny, Ben Sutton, Sutton, Shammas Malik, James Hardy, Hardy, Mayor Malik, Malik, we've, Capital's Greeley, Catalyst's Organizations: Healthy, CNBC, Intermountain Healthcare, Catalyst, Summa Health, Health Assurance Transformation Corporation, Summa Health Medina, Urban Institute, Fitch Ratings, Alliance of Community Health, General Catalyst, HCA Healthcare, University of California Davis Health, Intermountain, Flare Capital Partners, Beaumont Health, Health, Akron, Ideastream Public Media, HATCo Locations: New York City, Silicon Valley, Utah, Ohio, Harrison, PitchBook, U.S, Canada, Israel, Michigan, Beaumont, Akron, Summit County, Akron's

☆ Only about 1 in 20 young voters said Taylor Swift's endorsement might sway their 2024 vote: poll
▼ + stars: | 2024-02-27 | by ( Madison Hall | ) www.businessinsider.com time to read: +1 min

Pop star Taylor Swift has been at the center of political discussion in recent months. A recent survey found that Swift's endorsement would sway about 1 in 20 votes from young adults. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementPoliticians and pundits have debated in recent weeks just how much pop star Taylor Swift's endorsement could play in the 2024 presidential election. A recent poll, however, found her endorsement may not be as impactful as some may have thought.

Persons: Taylor Swift, Trump, Biden, —, Taylor, Swift Organizations: Service, Business

☆ 4 reasons why Wall Street fears that Nvidia's hard-earned gains could go up in smoke
▼ + stars: | 2024-02-27 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

In the last 15 months, Wall Street analysts have hailed generative AI as the most impactful innovation in decades and compared its theoretical impact to that of the internet. While the full impact of AI isn't clear yet, companies are under immense pressure to convince investors that they're not falling behind. "We can't envision any of these large cloud companies or consumer companies pulling back on AI spending anytime soon," Colello said. UBS"This is not always a harbinger of slowing revenue growth and a concentrated H200/B100 launch could be adding to near-term opex," Arcuri wrote in a recent note. AdvertisementDespite what Nvidia's recent performance suggests, Wall Street is notoriously tough to please.

Persons: —, Morgan Stanley, Steve Sosnick, Wedbush's Dan Ives, who's, Marcelli, they're, Sosnick, Brian Colello, Colello, They're, we're, Vivek Arya, Arya, Michael Landsberg, Landsberg, Jason Draho, Draho, Timothy Arcuri, Arcuri Organizations: Service, Wall Street, Business, Nvidia, Interactive, Bulls, Bank of America, Wedbush Securities, UBS, UBS Global Wealth Management, Morningstar, Landsberg Bennett, Wealth Management

☆ Kara Swisher warns news organizations need to ‘reinvent’ themselves amid existential crisis
▼ + stars: | 2024-02-27 | by ( Oliver Darcy | ) edition.cnn.com time to read: +9 min

We spoke to Swisher on Monday to get her insight on some of the challenges facing the media and tech landscape today. And they didn’t anticipate that these tech companies were going to get into media. If so, why haven’t legacy media companies been able to lure in top tech talent to improve their products? Media companies do not get to live by the same anti-gravity rules that tech companies have been able to. But media companies didn’t offer the same kind of upside.

Persons: New York CNN — Kara Swisher, ” Swisher, Swisher, it’s, BuzzFeed, they’ve, Steve Jobs, Rupert Murdoch, “, Donald Trump’s, Joe Biden’s, It’s, You’ve, Elon Musk, Bill Ackman, I’m, Elon, Tyler Perry, Sora, everyone’s, Adrian Chen, …, AllThingsD, Uber, We’ve, haven’t Organizations: New York CNN, Craigslist, . Media, Big Tech, New York Times, Harvard, The New York Times, Google Locations: New York

☆ Get ready for a more volatile Dow with the Amazon addition
▼ + stars: | 2024-02-26 | by ( Robert Hum | ) www.cnbc.com time to read: +1 min

Will a more volatile Dow Jones Industrial average follow suit after Amazon's addition? Amazon joins the Dow Monday, as the 127-year old index adds a much higher-beta stock that could bring some bigger moves with more frequency going forward. Remember, that for every $1 any Dow stock moves, the index moves roughly 6.5 points. But contrast Amazon's moves to even Walmart, which had essentially the same share price pre-split as Amazon (WMT $175.56, AMZN $174.99). Apple had a share price of about $127 when it was added in March 2015 (price based on pre-2020 4-for-1 split levels).

Persons: Will, it's Organizations: Dow, Walgreens, Walmart, Apple

☆ Google has another 'woke' AI problem with Gemini — and it's going to be hard to fix
▼ + stars: | 2024-02-26 | by ( Peter Kafka | ) www.businessinsider.com time to read: +5 min

Read previewGoogle spent much of last week getting hammered for supposedly creating a "woke" AI chatbot and eventually apologized for "missing the mark." AdvertisementBut it's also going to be a problem for Google because it has already said it is trying to influence the way its AI produces results. And that's going to be red meat for anyone who wants to argue that Google — or any other Big Tech company — is "too woke." Last week, after getting similar criticism about the way Gemini handled race when it came to AI-generated images, Google "paused" Gemini's ability to create images. Pulling Gemini altogether would be a considerable black eye for the company, and one I think it will be incredibly reluctant to do.

Persons: —, Ben Thompson, Gemini, Hitler, Elon Musk's, Thompson, Sundar Pichai, Marc Andreessen, it's, they're, Prabhakar Raghavan, Raghavan, Google's, I'm Organizations: Service, Business, Google, Meta, Microsoft, Big Tech, Gemini

☆ The next phase of the war between Walmart and Amazon will be fought on your TV
▼ + stars: | 2024-02-25 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Representatives for Walmart and Amazon did not respond to requests for comment from Business Insider. Walmart currently sells ad space to suppliers on its internal site and app and conducts ad campaigns through promoted posts on external social media sites. Advertisement"Walmart's consumer reach could propel Vizio's ad business to eventually rival Samsung and Roku. In Q4, which included the holiday shopping season for both companies, Walmart reported $173.4 billion in revenue, compared to Amazon's reported $169.96 billion.

Persons: —, Forbes, David Zapletal, Kenneth Suh, AdWeek, Ross Benes, Doug Herrington, Fortune, Seth Dallaire Organizations: Service, Amazon, Business, Walmart, Hulu, Walmart Connect, Samsung, CTV, Insider Intelligence, Amazon's

☆ How impactful are U.S. sanctions against Russia?
▼ + stars: | 2024-02-23 | 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 EmailHow impactful are U.S. sanctions against Russia? Hagar Chemali, former spokesperson for the U.S. mission to the United Nations, and CNBC’s Eamon Javers join 'The Exchange' to discuss the geopolitical implications of recent developments from Ukraine and Russia, the effects of U.S. sanctions and more.

Persons: Hagar Chemali, CNBC’s Eamon Javers Organizations: Russia, U.S, United Nations Locations: Ukraine, Russia

☆ Opinion: The biggest potential danger from the Hur report is one no one’s talking about
▼ + stars: | 2024-02-22 | by ( Opinion Gary Ross | ) edition.cnn.com time to read: +8 min

CNN —Over the past year, we’ve seen an alarming wave of current or former senior government officials who reportedly failed to properly safeguard classified information. The clearest threat is that our adversaries can more easily gain access to classified material and the sensitive information it contains. This increases the likelihood that an adversary would succeed in accessing any classified documents stored at these locations. Our adversaries are not the only ones observing how well we safeguard sensitive information. Finally, US intelligence community employees, bound by the same oath to safeguard classified information, may come to question the seriousness of their obligation.

Persons: Gary Ross, Ross, we’ve, Donald Trump’s Mar, Joe Biden, Mike Pence, Pence, Trump, Robert Hur’s, Biden, ” Organizations: Texas, Bush School ,, Department of Defense, Office, National Intelligence and Department of Homeland Security, Bush, CNN, Biden, Justice Department, Trump, of Justice, US, US Justice Department, Lago Club . US Department of Justice, CIA, Intelligence Service Locations: Bush School , Washington, DC, United States, Delaware

☆ Opinion: The Hur report points to a huge danger that one no one’s talking about
▼ + stars: | 2024-02-22 | by ( Opinion Gary Ross | ) edition.cnn.com time to read: +8 min

Persons: Gary Ross, Ross, we’ve, Donald Trump’s Mar, Joe Biden, Mike Pence, Pence, Trump, Robert Hur’s, Biden, Hur, ” Organizations: Texas, Bush School ,, Department of Defense, Office, National Intelligence and Department of Homeland Security, Bush, CNN, Biden, Justice Department, Trump, of Justice, US, US Justice Department, Lago Club . US Department of Justice, CIA, Intelligence Service Locations: Bush School , Washington, DC, United States, Delaware

☆ Vice Media will stop publishing on its website and lay off hundreds. Read the memo its CEO sent to staff.
▼ + stars: | 2024-02-22 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Read previewVice Media is in the process of shutting down its website and shifting focus to its studio, which will involve laying off hundreds, CEO Bruce Dixon wrote in a staff memo Thursday. Vice is also in the process of selling the woman-aimed site Refinery.com, which it acquired in 2019, Dixon wrote. In addition to its flagship Vice.com, Vice Media operates Vice Studios, a film and TV production business; and ad agency Virtue. However, it is no longer cost-effective for us to distribute our digital content the way we have done previously. Separately, Refinery 29 will continue to operate as a standalone diversified digital publishing business, creating engaging, social first content.

Persons: —, Bruce Dixon, Dixon, Vice.com, Shane Smith, Bruce Organizations: Service, Business, Fortress Investment, Vice Media, Vice Studios, Employees

☆ Hurricane season 2024: Unprecedented ocean heat and La Niña could combine with dangerous effect
▼ + stars: | 2024-02-18 | by ( Mary Gilbert | ) edition.cnn.com time to read: +5 min

CNN —Hurricane season is months away, but the waters where hurricanes roam haven’t received the memo. North Atlantic temperatures typically only go up from here, climbing in spring and reaching a maximum in early fall when hurricane season also peaks. The earlier La Niña arrives, the sooner it would influence hurricane season. “If you don’t want an active hurricane season, you would need La Niña to wait as long as possible to begin,” McNoldy said. Forecasters with NOAA’s Climate Prediction Center believe La Niña could arrive as soon as summer, but more likely by fall.

Persons: haven’t, ” Brian McNoldy, “ We’ll, hasn’t, McNoldy, ” McNoldy, “, ”, Phil Klotzbach, Niña, Klotzbach, Rita, Irene, ” Klotzbach, El, Patrick T, Fallon, It’s, don’t Organizations: CNN, Hurricane, University of Miami, Central America, Colorado State University ., Getty Locations: West Africa, Central, Pacific, percolate, Hurricane, LaPlace, Louisiana, AFP

Fran Horowitz, Abercrombie & Fitch CEO: The future of retail is small, efficient, omni stores, and they're located where the customer tells us. I get really, really excited about what this means in the operations of the business, using predictive analytics to help us forecast demand. They're worldwide, a zillion stores, and their operations and execution, aside from their merchandising, I think they're always on top of the game. I think you're going to see an interaction with someone in a setting that doesn't look like retail, but looks like a fantastic experience. Nicholas of Sam's Club: Another retail standard that is really going to be important beyond the customer is energy.

Persons: Christina Locopo, Fran Horowitz, Abercrombie, Patrick MacLeod, WWD, Michelle Gass, Levi Strauss, they're, Jens Grede, Geoffroy van Raemdonck, Neiman Marcus, there'll, Trina, Patrick T, Fallon, Chris Nicholas, Kara Trent, Levi's Gass, Tom Ward, Erin Black, CNBC Abercrombie's Horowitz, Marc Lore, Mickey Drexler, TikTok, Adam Jeffery, Dave Kimbell, It's, Scott Mlyn, CNBC Neiman's van, you've, Yael Cosset, —, Ulta's, Arturo Holmes, Trent, That's, we've, Kroger's, Abercrombie's Horowitz, I've, Dia Dipasupil, Neiman's van, who's, Lulu, Drexler, Armour's, Dior, Louis Vuitton, Hermes, Armour Levi's Gass, Emma Grede, Kardashian, Kim, Geoffroy van Raemdonck Patrick Mckleod, Nicholas of Organizations: CNBC, Abercrombie, Fitch, Abercrombie & Fitch Co, Penske Media, Getty, Milken Institute Global Conference, AFP, Sam's, Technology, Walmart U.S, Walmart, New York Times, Navy, WWD, Young, Nike, TJX, Zara, Armour's Trent, Americas, Nicholas of Sam's, Sam's Club Locations: they're, Beverly Hills , California, New York City, America, New York, U.S, Skims, Inditex, Kara, Walmart's

NEW YORK (AP) — Gushing after the New York Philharmonic performed Leonard Bernstein’s music, Bradley Cooper talked about creating the film “Maestro ″ in hopes of drawing more attention to the composer and conductor. They were joined by Carey Mulligan, who played Felicia Montealegre, the actor and wife of Bernstein. Nézet-Séguin, a 48-year-old Canadian who is music director of the Metropolitan Opera and the Philadelphia Orchestra, served as a consultant to Cooper on conducting. Cooper, who is not Jewish, also faced scrutiny for wearing a prosthetic nose as part of his transformation into Bernstein, who was. What’s next for Cooper, a biopic of Herbert von Karajan, the iron-willed leading conductor of the second half of the 20th century?

Persons: Leonard Bernstein’s, Bradley Cooper, Maestro ″, don’t, Lincoln Center’s David Geffen, Leonard Bernstein, ” Yannick Nézet, Séguin, Cooper, Bernstein, Carey Mulligan, Felicia Montealegre, Maestro ”, Mulligan, Taylor Swift, ”, “ Bradley Cooper, Jamie, Nina, Alexander, Bayoh, “, Edward R, Murrow, Stevie Sondheim, —, Cooper didn’t, hadn’t, Gounod’s “ Roméo, Bernstein’s, Lenny, ” Cooper, What’s, Herbert von Karajan Organizations: New York Philharmonic, Lincoln, Lincoln Center’s David Geffen Hall, Associated Press, Venice, Metropolitan Opera, Philadelphia Orchestra, “, England’s Ely Cathedral, Lincoln Center, philharmonic Locations: New York City, America, “ Chichester, England’s

☆ Stanley Druckenmiller exits Alphabet, keeps winning AI plays Nvidia and Microsoft
▼ + stars: | 2024-02-15 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Billionaire investor Stanley Druckenmiller dumped his stake in Google's Alphabet entirely last quarter, while keeping his high-conviction bets on artificial intelligence through Microsoft and Nvidia . Druckenmiller's Duquesne Family Office sold $112 million worth of Alphabet shares last quarter, according to a regulatory filing. His firm briefly held Alphabet in the first quarter of 2023, sold it the next quarter and entered the stock again in the third quarter. He said he has been betting on the space through two stocks — Microsoft and Nvidia. But Druckenmiller, a Bowdoin College grad, bought call options on Nvidia with a notional value of $242 million last quarter.

Persons: Stanley Druckenmiller, Druckenmiller, George Soros, Soros, Tempur Sealy Organizations: Microsoft, Nvidia, Druckenmiller's Duquesne Family, Bowdoin College grad, Sohn Investment, Quantum Fund, Duquesne Capital Management, Arista Networks, Woodward, Flex Ltd, Barrick Gold, Marvell Technology

☆ New York’s Freedom Plaza development will feature skyscrapers joined by daring cantilevered ‘skybridge’
▼ + stars: | 2024-02-15 | by ( Christy Choi | ) edition.cnn.com time to read: +5 min

The "skybridge" connecting the two hotel towers is set to feature a 150,000-gallon rooftop infinity pool. Bjarke Ingels GroupThe development is one of several projects competing for three casino gaming licenses recently approved for downstate New York by the state’s gaming commission. Bjarke Ingels GroupSoloviev Group has also promised that an unspecified percentage of the gaming profits, starting with a minimum $5 million donation, will go to an independently run non-profit community fund. Freedom Plaza will also contain public green space and a new Museum of Freedom and Democracy. Bjarke Ingels GroupUnaffiliated with Long Island University’s Museum of Democracy, the new institution will contain pieces of the Berlin Wall and works from the Soloviev Group’s art collection.

Persons: Bruce Munro, Le Corbusier, Wallace Harrison, Oscar Niemeyer, ”, Ray Pineault, “, Michael Hershman Organizations: CNN, New, United, Museum of Freedom and Democracy, British, Soloviev Group, BIG, UN, downstate, Soloviev, Mohegan, Museum of Freedom, Democracy, of Freedom and Democracy, Ingels Group, University’s Museum of Democracy Locations: New York City, Midtown Manhattan, Madison, Danish, North America, York City, York, New York, Long

☆ Paul Rabil: Co-Founding The Premier Lacrosse League Is My Dream Job
▼ + stars: | 2024-02-15 | 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 EmailPaul Rabil: Co-Founding The Premier Lacrosse League Is My Dream Job"Ambition is the fire inside us." Premier Lacrosse League Co-Founder & President Paul Rabil shares how ambition drove him to be a great lacrosse player and an impactful entrepreneur.

Persons: Paul Rabil Organizations: Premier Lacrosse League, Lacrosse League Co

☆ Elad Gil, tech's biggest solo capitalist, sees an AI app wave coming
▼ + stars: | 2024-02-14 | by ( Darius Rafieyan | Samantha Stokes | ) 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. AdvertisementThe year of the "AI app layer"Gil sees 2024 as the year that the “AI app layer” will start to crystalize, bringing the power of rapidly advancing foundation models to the masses. For someone with so much skin in the AI game, it’s notable that Gil’s portfolio does not include the big foundation models companies like OpenAI, Anthropic, and Cohere. Gil says he has been impressed with how quickly the legacy tech companies have moved to corner the market on cutting-edge AI research. But with the Biden administration’s more robust antitrust posture, Gil says there’s a lot of much-needed consolidation that’s not happening.

Persons: —, OpenAI, Elad Gil, Harvey, Character.ai, “ We're, ” Gil, ChatGPT, Gil, Gil's, ”, “ they’ve, Biden, there’s Organizations: Service, Business, Twitter, Mixer Labs, Google, Apple, Fortune, “ Enterprises Locations: Airbnb, MistralAI, Silicon Valley

☆ I quit my $400,000 Morgan Stanley job to become a startup founder. Loneliness was the biggest challenge, but I don't regret it.
▼ + stars: | 2024-02-13 | by ( Ellen Nguyen | ) www.businessinsider.com time to read: +6 min

I decided to leave investment banking because I'd lost the meaning and purpose of my work, and I wanted to find it. Becoming a managing director wasn't a specific goal when I started in investment banking. I realized money is just part of the puzzle. The biggest expense isn't the business investment but the opportunity cost and covering my living expenses while extending my financial runway. I don’t have fixed commitments, like a mortgage or children, which gave me the flexibility to leave my banking career.

Persons: —, Valeri Gervaziev, Morgan Stanley, I'd, wasn't, could’ve, HENRY, I’ve, I've, Lauryn Haas Organizations: Service, Barclays, Business, lhaas@businessinsider.com Locations: London, Bulgaria

☆ A New York snowstorm is set to play a deciding factor in whether the GOP's narrow House majority shrinks even more
▼ + stars: | 2024-02-13 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAs voters in New York's 3rd Congressional District cast their votes in Tuesday's special election, heavy snowfall across the region may play a key role in downsizing the Republican Party's already narrow House majority. In the weeks leading up to the special election, polling indicated that Suozzi appeared to possess a 4 percentage point advantage over Pilip. Politico reported on February 10 that Suozzi, at the time, possessed a lead in reported early votes. Nevertheless, there's still hope for Pilip and the Republican Party: the aforementioned research report also noted that "poor weather" tends to benefit the GOP more than Democrats.

Persons: —, George Santos, Tom Suozzi, Republican Mazip Pilip, Suozzi, there's, Mike Johnson Bill Clark, Alejandro Mayorkas Organizations: Service, New, Congressional District, Republican, Rep, Democratic, Business, Politico, Republican Party, GOP, Inc, Getty, New York's, Homeland, Democratic Party Locations: New York's, Queens, Long, Santos, lockstep

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