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☆ The TikTok ban chaos — explained in 60 seconds
▼ + stars: | 2024-03-11 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

A bill that could ban TikTok in the US is moving quickly through Congress. AdvertisementA new bill working its way through Congress could ban TikTok in the US. Donald Trump, who used to want to ban TikTok in the US, now says he'd like it to be here. And some people who support the ban bill insist it isn't a ban bill. Why do people want to ban TikTok in the US?

Persons: —, Donald Trump, Let's, TikTok, hoover Organizations: Service, Business

☆ With an Orange-Tufted Spiderhunter, Birder Breaks Record for Sightings
▼ + stars: | 2024-03-11 | by ( Joe Trezza | ) www.nytimes.com time to read: +1 min

On Feb. 9, Peter Kaestner stood in the shadow of majestic Tinuy-an Falls on the Philippine island of Mindanao, on the cusp of a record he’d spent seven decades chasing and worried that he’d arrived too late. For years, nobody alive had seen and identified more bird species than Mr. Kaestner. An obsessive birder since childhood, Mr. Kaestner woke up that morning in February with 9,997 birds on his personal “life list” — more than 90 percent of Earth’s scientifically recognized species and three away from a singular milestone. A few weeks earlier, in an essay for the American Birding Association, he had outlined his plans to become the first person to document 10,000 sightings; shortly after, new information forced him to expedite his plans. “I realized when I was writing it that I was putting a target on my back,” Mr. Kaestner said from his home in Cockeysville, Md.

Persons: Peter Kaestner, he’d, Kaestner, lister, ”, “, ” Mr Organizations: American Birding Association Locations: Philippine, Mindanao, American, Cockeysville, Md

☆ 3 theories to explain Trump's TikTok flip-flop
▼ + stars: | 2024-03-08 | by ( Peter Kafka | ) www.businessinsider.com time to read: +6 min

For instance: In 2020, when he was president, Trump said he wanted to ban TikTok from the US. While we are here, let's be even-handed, and note that Trump is not the only politician who has inconsistent and contradictory approaches to TikTok. So that's a lot of TikTok Ban news to consume over a short period. But I'm still sticking with the argument I made Thursday:It's easy to vote for a TikTok ban if you don't really think it's going to result in a TikTok ban. But it's a lot harder to actually ban TikTok for real — particularly during a very close presidential campaign, where the risk of blowback from angry users is a real thing.

Persons: —, Donald Trump, Trump, Jeff Yass, — we're, Republican Sen, Rand Paul, Paul, Biden, — Rand Paul, I'm, …, TikTok, let's, Joe Biden, ByteDance Organizations: Service, Facebook, Business, Club, Growth, Trump, Republican, Texas, Project Texas, GOP, Street Locations: Yass, Project, China

☆ What’s the Greatest Jazz Record? Here’s a Clue: Miles Davis.
▼ + stars: | 2024-03-07 | by ( Peter Keepnews | ) www.nytimes.com time to read: +1 min

3 SHADES OF BLUE: Miles Davis, John Coltrane, Bill Evans, and the Lost Empire of Cool, by James KaplanMiles Davis was one of the biggest stars in jazz as well as one of the most innovative and influential musicians. John Coltrane was both a saxophone virtuoso and a fearless explorer whose lifelong musical and spiritual quest attracted a passionate following — and later, as that quest went beyond the boundaries of jazz as many people understood the word, heated criticism. Bill Evans redefined the concept of the piano trio and rewrote the rules of jazz harmony. Well, we may not need it, but we have it. And if “3 Shades of Blue: Miles Davis, John Coltrane, Bill Evans, and the Lost Empire of Cool” is neither an essential addition to the jazz literature nor quite the sweeping statement its subtitle promises, it’s certainly a compelling read.

Persons: Miles Davis, John Coltrane, Bill Evans, James Kaplan Miles Davis, Davis, Coltrane, Evans, Ashley Kahn’s, Eric Nisenson’s “, Richard Williams’s “, Miles Davis’s, it’s, James Kaplan, — Organizations: Modern Music

☆ Apple's movies are box-office duds. Apple says they're profitable. Huh?
▼ + stars: | 2024-03-07 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

And since the Apple-made movies are expressly built to be shown on its Apple TV+ streaming service, Apple can't make money selling them to a different streamer. Apple, movies, and TV: Why? And the second obvious answer is that Apple needs Apple TV+ because it's increasingly focused on making money from "services" as iPhone sales slow down. Apple has managed to grow Apple TV+ meaningfully after a rocky start. Still, even in the best-case scenario, Apple TV+ is a sliver of the $85 billion Apple made from services last year.

Persons: …, Napoleon, That's, —, James Bond, Henry Cavill, Bryce Dallas Howard, Sam Rockwell, Dave Benett, Apple, it's, Martin Scorsese's, he's Organizations: Apple, Variety, Business, Google Locations: Dua Lipa

☆ Sam Altman and Elon Musk are beefing, but the two share plenty in common
▼ + stars: | 2024-03-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at Sam Altman's sprawling AI empire amid his beef with Elon Musk . AdvertisementBut first, the sun never sets on Sam Altman's AI empire. OpenAI CEO Sam Altman was thrust into the mainstream consciousness with the release of ChatGPT in 2022. Elon Musk and Sam Altman Michael M. Santiago/Getty, Nordin Catic/Getty, Tyler Le/BIThere is another tech billionaire whose vision exceeds a singular company. But unlike Musk, Altman has, somewhat incredibly, mostly skirted controversy (save for his ouster-then-return saga ).

Persons: —, There's, Sam Altman's, Elon Musk, Alastair Grant, Rebecca Zisser, Sam Altman, Altman, Darius Rafieyan, Sam Altman Michael M, Nordin Catic, Tyler Le, Elon, Musk, OpenAI, execs, Altman isn't, Robert Downey Jr, Tony Stark, Goldman Sachs, Jenny Chang, Rodriguez, Neema Raphael, Goldman's, Jerome Powell, Powell, Li Qiang's, Xi Jinping, Fernando Gutierrez, leapfrog, Ridley Scott's, Napoleon, BI's Peter Kafka, Elon Musk's, Joe Biden, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Elon, Business, OpenAI, Microsoft, Goldman, Beijing, Nvidia, leapfrog Apple, Apple, Google, FTC, Facebook, Variety, Tesla, Costco, Kroger, Digital Locations: China, Delaware, New York, London

☆ Elon Musk says he's not donating money to Trump. Does that settle it?
▼ + stars: | 2024-03-06 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Read previewNews that Elon Musk met with Donald Trump on Sunday raised the obvious question: Is Trump, who needs money, going to get some from one of the world's richest men? Absolutely not, says Elon Musk on Wednesday:That settles that. Just to be super clear, I am not donating money to either candidate for US President This story is available exclusively to Business Insider subscribers. In 2022, Elon Musk said he was acquiring Twitter shares as a "passive" investor — and then bought the whole company. Or maybe Musk thinks he's crafted a clever tweet about "not donating money to either candidate for US President," and what he really means is he is "not donating RIGHT NOW."

Persons: —, Elon Musk, Donald Trump, Trump, he's, Teddy Schleifer, Puck, Schleifer, Vivek Ramaswamy's, Musk, Elon, …, doesn't Organizations: Service, Elon, US, Business, Twitter, Trump, Trump PAC, Nope Locations: Silicon Valley

☆ Google can recover from the Gemini flop. Just look at Apple Maps.
▼ + stars: | 2024-03-05 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

Google's Gemini flop looks bad from the outside. Ask the folks who worked on Apple Maps. Apple Maps fiasco could point the way forwardBut let's be more positive this time around, with a different echo from the Big Tech Screwups file: Remember Apple Maps? And then, over time, Apple did get its act together, and people did start using Apple Maps, and now there are plenty of normal people who use Apple Maps as a default, and some of them even argue that it's better than Google Maps. Except: The time between Apple Maps' flop and that article I linked to above — headline: "People Have Begun to Love Apple's Most Hated Product" — was more than a decade.

Persons: —, Alex Kantrowitz, wokeness, OpenAI, Hunter, Tim Cook, Cook, Apple's, Gemini Organizations: Google, Big Tech, Apple, Service, Gemini, Microsoft

☆ Elon Musk has a unique plan to solve Twitter's ad problems
▼ + stars: | 2024-03-05 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Elon Musk owns X, formerly Twitter, which has an advertising problem. AdvertisementThe company formerly known as Twitter has a well-known advertising problem: It is owned by Elon Musk, who does his best to repel advertisers. So look at a (very partial) solution to Twitter's advertising problem: Elon Musk! More specifically, Elon Musk's Tesla, which is advertising on the company formerly known as Twitter:This new? Model Y starts at $36,490 after Federal Tax Credit for eligible buyersBook a Demo Drive to try it https://t.co/McJ7TwPy4c — Tesla (@Tesla) February 29, 2024Beyond the novelty, a couple of other ideas:

Persons: Elon Musk, —, Elon, Elon Musk's Tesla, uM6X0cQnKL — Jay Yarow, Tesla, Jay, — Tesla Organizations: Elon, Service, Twitter, YouTube, Federal Tax

☆ Who's going to pay $50 a month for a sports streamer that doesn't have all the sports?
▼ + stars: | 2024-03-04 | by ( Peter Kafka | ) www.businessinsider.com time to read: +5 min

What we still don't know: Why would someone pay $50 a month for this? AdvertisementAfter all, if you like paying for streaming TV, you can pay $73 a month for YouTube TV. So, again: If you're a big enough sports fan that you want to pay for streaming TV, don't you also want all of the sports on streaming TV? And, yes: Spending $50 a month on something instead of $73 a month on something is meaningfully cheaper. Now he's asking them to pay an extra $50 a month — and not get everything they want.

Persons: Lachlan Murdoch, it's, —, Here's, Murdoch, Brendan McDermid, they're, They're, he'll Organizations: Service, Fox Corp, Disney, Warner Bros, Comcast, YouTube, REUTERS, NFL, CBS, league's AFC, NBC, Amazon, Media Locations: America

☆ Why Apple's $2 billion fine is a $80 billion problem
▼ + stars: | 2024-03-04 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Apple's stock fell Monday morning after EU regulators slapped the company with a $2 billion fine. The fine is part of the EU's push to get Apple to open up its App Store. Investors are trying to figure out how much opening the App Store will hurt the company long term. Which means, at the moment, that Apple's $2 billion fine has cost it some $80 billion in market cap. But as recently as a month ago, the conventional wisdom was that Apple's fine was going to be something in the $500 million range.

Persons: —, that's, they've, there's Organizations: Apple, Service Locations: Europe

☆ Trump used note cards. So did W. Bush and the presidents before him. Should we worry that Biden uses them, too?
▼ + stars: | 2024-03-01 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +6 min

Read previewAt a recent closed-door fundraiser, President Joe Biden had to rely on note cards prepped by his staff to provide donors with detailed answers on his policy. But since the advent of mass communication technology and, as a result, an increasing expectation of US leaders to make public addresses, presidents have long relied on note cards and teleprompters to face their constituents. Even US presidents who had the public reputation of being robust and nimble needed note cards, Kastor said. John F. Kennedy, who was able to keep his medical problems, including persistent back pain, hidden from the public, used note cards. Former President Donald Trump, who is now 77, has received flack for relying on note cards albeit for different reasons.

Persons: —, Joe Biden, Axios, Robert Hur, Calvin Coolidge, of Congress Peter Kastor, Louis, Kastor, John F, Kennedy, Kennedy's, Woodrow Wilson, John Adams, Theodore Roosevelt, Ronald Reagan, Biden, Reagan, …, Barack Obama, Donald Trump, David Frum, George W, Bush's, Bush, Frum, flack, Trump, Chip Somodevilla, attentiveness, Clinton, Obama Organizations: Service, Media, Business, of Congress, Washington University, National Archives, White, Trump Locations: St, Berlin, Germany, Parkland , Florida, W

☆ Google's Gemini flop raises the question: What exactly do we want our chatbots to do, really?
▼ + stars: | 2024-02-29 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Internet culture chronicler Max Read has a particularly sharp assessment about all of it: Yes, this is dumb. are all that interesting or enlightening questions compared to something like "well, what did you want the computer to do?" I can't really even come up with situation where Gemini's refusal to say that Hitler is worse than Elon Musk has some terrible downstream effect. And, also — The Gemini debacle really is a debacle. AdvertisementMaybe we can all take a breath and slow down, and figure out what this tech really can, and can't do.

Persons: Elon Musk, Hunter, Ted Cruz, Max Read, Pol Pot, Martha Stewart, Hitler, they've, chatbots, Marc Andreessen Organizations: Big Tech, Google, Twitter Locations: New York

☆ Google is starting to feel like any other business, and staging a comeback won't be easy
▼ + stars: | 2024-02-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at how Google has gone from the tech industry's vanguard of cool to just another boring company . AdvertisementGoogle has long stayed atop Silicon Valley's volatile popularity contest — but the best place to work in tech is starting to feel like any other business , Business Insider's Hugh Langley and Lara O'Reilly write. Bureaucracy, an aversion to risk, and deference to Wall Street over employees — things Google long eschewed — have become the norm. The latest example is the debacle surrounding Gemini — its flashy new AI model that faced backlash for being too "woke."

Persons: —, Rebecca Zisser, Hugh Langley, Lara O'Reilly, Alistair Barr, Sundar Pichai, Hugh, Lara, Mateusz Wlodarczyk, BI's Peter Kafka, it's, David Rosenberg, Gary Shilling, Snowflake's Frank Slootman, Ozgur Hakan Aslan Toyota, Boxabl, Elon Musk, Tesla, Hewlett Packard, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb Organizations: Service, Google, Business, Gemini, Meta, Big Tech, OpenAI, Corporations, Nvidia, SEC, Universal Music Group, Universal, BI Locations: —, New York, London

☆ Music on TikTok is disappearing amid battle with Universal Music Group. Can it make photos work?
▼ + stars: | 2024-02-28 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

TikTok is losing access to Universal Music Group's songs, including from artists like Taylor Swift. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTikTok, the platform best known as "the app where people dance around to music," is losing a lot of music and is going to lose more. This story is available exclusively to Business Insider subscribers.

Persons: TikTok, Taylor Swift, —, Drake, Bunny Organizations: Universal Music, Service, Street, Universal Music Group, Universal, Business Locations: UMG

☆ Wait. Why is Reddit losing so much money?
▼ + stars: | 2024-02-27 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

Last year, according to Reddit's newly filed IPO documents, the company generated $804 million in revenue and lost nearly $91 million. But it's still a lot of money to lose selling a free product. AdvertisementOne big, obvious answer: It has been hiring a lot of engineers and spending a lot of money on their salaries. (Note: There are some dumb stories floating out there about Reddit CEO Steve Huffman getting paid $193 million last year. The best argument I can make in their defense is that Reddit is still adding a lot of users and that more users equals more ad money.

Persons: —, it's, Condé Nast, that's, Steve, Greg Doherty, Steve Huffman, Elon Musk, Reddit, they're, Alex Heath Organizations: Service, Facebook, Business, Twitter, Google

☆ Google's mission is organizing the world's information. Its 'woke' AI debacle prompted critics to say it's failing.
▼ + stars: | 2024-02-27 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Read previewSince its inception, Google has had a mission statement that is now practically enshrined as lore: "To organize the world's information and make it accessible and useful." Its AI, critics say, risks suppressing information instead by being too "woke." AdvertisementGoogle's AI troublesGoogle has more than 90% of the search market, giving it dominant control over the world's information flow online. Advertisement"The original mission was to index all the world's information. In a blog published Friday, Google vice-president Prabhakar Raghavan acknowledged some of the images Gemini generated turned out to be "inaccurate or even offensive."

Persons: —, Larry Page, Sergey Brin, Gemini, Peter Kafka, Adolf Hitler, Elon, David Sacks, Critics, Sam Altman, Andrew Caballero, Reynolds, Bilal Zuberi, Brad Gerstner, Microsoft —, Elon Musk, OB1CCZHan3, Prabhakar Raghavan, overcorrected, Raghavan Organizations: Service, Google, Business, Craft Ventures, Lux Capital, Microsoft, Elon Locations: Menlo Park, AFP

☆ Expedia is cutting 1,500 jobs as travel demand slows
▼ + stars: | 2024-02-27 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —Expedia, the online travel agency, is eliminating about 1,500 employees as part of an “organizational and technological transformation.”The cuts, which amount to nearly 9% of its 17,100-strong global workforce, come amid slowing travel demand following a post-pandemic boom and a broader shakeup at the company, including a new CEO. Expedia (EXPE) said in a regulatory filing that the cuts will result in an $80 million to $100 million charge to its bottom line because of severance and compensation benefits costs. Over time, Expedia has acquired several online traveling booking platforms including Hotels.com, Vrbo, Orbitz, Hotwire.com and Travelocity. An Expedia spokesperson said that the changes “will result in the elimination of some roles” that “allows the company to invest in core strategic areas for growth.”Expedia had previously announced that CEO Peter Kern was departing his role. Ariane Gorin, who is president of Expedia for Business unit, will take over the position in May when Kern’s contract ends.

Persons: New York CNN — Expedia, “, Expedia, wasn’t, ”, ” Expedia, Peter Kern, Ariane Gorin, Max Organizations: New, New York CNN, CNN Locations: New York

☆ 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

☆ Does your dog need a coat?
▼ + stars: | 2024-02-24 | by ( Alicia Wallace | ) edition.cnn.com time to read: +11 min

But all this begs the question: Does your dog need a coat? From high-fashion to high-performanceThere’s evidence of dog fashion and clothing throughout history — from the ancient Egyptians and 19th-century Paris dog boutiques to early 20th-century photographs of dogs wearing clothes. Prada's Re-Nylon puffer dog coat with hood comes in two colors and three sizes, $825 From PradaBut the transition from Fifth Avenue high-end and high fashion to high-performance and technical function has certainly accelerated in recent decades. Doberman Pinschers — along with sleek breeds like Greyhounds and Whippets — are prime candidates for dog coats because of their short hair, thin skin and minimal body fat. “Make sure the coat fits well for safety and they’re supervised while wearing the coat.

Persons: Jerry Klein, Klein, Godiva, Jessica Rinaldi, I’m, ”, Alan Fausel, Enoch Frères, ” Fausel, Tiffany, Bruiser Woods, ” Frank, “ Frasier, Prada, Gucci, Prada's, Peter Kearns, Batman, Robyn Baldrey, Joe Hafner, Voyagers, ” Hafner, That’s, ” Coats, Jackie Moord, Mark Makela, Nicole Wheatley, Shanoa, ’ ” Wheatley, MeadowCat, Wheatley, Minnesota’s Northwoods, Drogo, Lois Katchur, Richter, Whippets, Leon, Sypha, ” Wheatley, Jennifer Bruns, Kent Nishimura, ” Bruns, they’re Organizations: Minnesota CNN —, American Kennel Club, CNN, Boston, Boston Globe, AKC Museum, Prada, Fifth, American Pet Products Association, “, Husky, PetSmart Veterinary Services, Los Angeles Times Locations: Anoka, Minnesota, Boston , Massachusetts, New York City, Paris, Seattle, Bend , Oregon, Santa Monica, It’s, Tacoma , Washington, Ada , Michigan, Rehoboth Beach , Delaware, Anoka , Minnesota, Minnesota’s, Muncy , Pennsylvania, Washington , DC

☆ This chart shows why the new sports streamer is going to cost $50
▼ + stars: | 2024-02-22 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . We don't know a lot about the big sports streaming service that's supposed to launch this fall — like what it's going to be called and who's going to run it. But we're pretty sure it's going to be priced around $50. This story is available exclusively to Business Insider subscribers.

Persons: —, Fox — Organizations: Service, CNBC, Disney, Warner Bros, Business

☆ The music labels are still suing the internet companies. That's a warning for the AI industry.
▼ + stars: | 2024-02-21 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe AI boom has been accompanied by AI lawsuits filed by content owners like The New York Times against big AI companies like Open AI. That was when we had lawsuits like Metallica vs Napster , or MGM vs Grokster , or Arista vs. Lime Group . And when Congress proposed laws like PIPA and SOPA , and when music labels and Hollywood studios were trying to get broadband companies to help them stop illegal downloads . Turns out, things are not so settled, and the music labels are still arguing — successfully, apparently, — that broadband companies can be held liable for bad behavior enabled by their broadband.

Persons: —, Cox Organizations: Service, New York Times, Napster, Reuters, Business, Cox Communications, U.S, Circuit, Cox Enterprises, Sony Music Entertainment, Warner Music Group, Universal Music Group, Metallica, MGM, Arista, Lime, Hollywood Locations: Richmond , Virginia, Virginia

☆ Small caps are going to 'fly' once interest rates moderate, says Aperture Investors' Peter Kraus
▼ + stars: | 2024-02-21 | 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 EmailSmall caps are going to 'fly' once interest rates moderate, says Aperture Investors' Peter KrausPeter Kraus, Aperture Investors chairman and CEO, joins 'Squawk Box' to discuss the latest market trends, state of the economy, interest rates outlook, and more.

Persons: Peter Kraus Peter Kraus Organizations: Aperture

☆ Why Jack Dorsey's failure led to Elon Musk's arrival at Twitter
▼ + stars: | 2024-02-20 | by ( Peter Kafka | ) www.businessinsider.com time to read: +12 min

Elon Musk's chaotic takeover of Twitter was enabled by Jack Dorsey's hands-off leadership style. AdvertisementThe world has been able to watch the chaos that ensued after Elon Musk bought Twitter, more or less in real time. AdvertisementI talked to Wagner about Twitter under Jack Dorsey, and Twitter and Musk, and what happens next. Former Twitter CEO Jack Dorsey quiet quitsPeter Kafka: What was your sense of Jack Dorsey before you got into this project? I think Elliott forced his hand on that front and made the job really, really un-fun for him.

Persons: Elon, Jack Dorsey's, Kurt Wagner, Musk, —, Elon Musk, Jack Dorsey, Kurt Wagner's, Wagner, Dorsey, Peter Kafka, He's, That's, it's, Elliott, Covid, Jack, JOSH EDELSON, he'd, Twitter, Antonio Masiello, “, There's, they've, Esther Crawford, I'm Organizations: Twitter, Service, Elon, Bloomberg, Elliott Management, San, Getty, Journal Locations: San Francisco

☆ A flood insurance quirk makes basements a bad place to keep your stuff
▼ + stars: | 2024-02-20 | by ( Greg Iacurci | ) www.cnbc.com time to read: +7 min

The problem is: If your basement floods, your flood insurance policy likely won't cover damages to most — if any — of your belongings. What is flood insurance? To that point, 99% of U.S. counties have experienced a flood since 1998 — and more than 40% of flood insurance claims are from outside high-risk flood areas, according to FEMA. Most people who have flood insurance get it through the federal government, via FEMA's National Flood Insurance Program, experts said. Consumers concerned about flood risk and insurance coverage should consider not putting their stuff in a basement, if possible, Kochenburger said.

Persons: Johnson, Jessica Rinaldi, Peter Kochenburger, Eric Thayer, Kochenburger, NFIP, Don Griffin, it'd, Griffin, Policyholders Organizations: Boston Globe, Getty, Southern University Law Center, Insurance, FEMA, Federal Emergency Management Agency, Flood Insurance, Bloomberg, Consumers, American, Casualty Insurance Association, Census, Southern University Law Locations: Vermont, United States, U.S, Whittier , California, freezers

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