A judge used ChatGPT in a court case in Cartagena about whether a child with autism was exempt from paying for the cost of his medical treatments. ChatGPT is being used across dozens of different industries.CFOTO/Future Publishing via Getty Images A Colombian judge used ChatGPT in ruling on a case about the medical rights of a child with autism.  The case was about whether the child's insurance should cover the bills for his medical treatments. A law introduced in Colombia in 2022 allows judges to use virtual tools in some cases.  A judge in Colombia said he used ChatGPT to help determine a ruling in a case about the medical rights of a child with autism, a local Colombian radio station reported. Judge Juan Manuel Padilla resorted to using the OpenAI-owned tool ChatGPT in a court case in the city of Cartagena about a child born with Autism Spectrum Disorder (ASD) to figure out whether the child would be exempt from paying the costs of his medical treatments including transportation, Blu Radio reported. Padilla asked the chatbot a series of questions about the case, with court documents containing the questions subsequently published on Blu Radio's website."Is an autistic person exempted from paying moderator fees in his therapies?" — one question, translated from Spanish to English by Insider, read.The chatbot responded: "Yes, that's right. According to regulations in Colombia, minors with a diagnosis of autism are exempted from paying moderating fees in their therapies." Padilla used ChatGPT in accordance with Law 2213 of 2022 in Colombia, which says that virtual tools can be used to aid a case on some occasions. The AI tool helped to save time, he said in an interview with Blu Radio.According to a report in The Guardian newspaper, Padilla told BluRadio the tech could help "facilitate the drafting of texts," but could not ever replace judges or officials.The case has divided people across the country over the ethics of using ChatGPT in a legal setting.Professor Juan David Gutierrez of Rosario University is one professional who opposed Padilla's use of ChatGPT in court, writing in a Twitter thread that the AI tool can "return incorrect, inaccurate, and false results," and give different answers to the same questions. He added that Colombia needs to ensure the "digital literacy of judges."However, a judge in Colombia's Supreme Court, Octavio Tejeiro, views the tool more positively and told The Guardian that the justice system "should make the most of technology as a tool.""It must be seen as an instrument that serves the judge to improve his judgment," he added.Since ChatGPT launched in November, it has become the fastest-growing consumer app in internet history reaching 100 million users within just two months. Its impressive abilities include impressing Google with its coding skills; beating 80% of human applicants to a real interview; and passing a university-level law and economics exam.Read the original article on Business Insider.....»»

Filings analysed by Bloomberg showed BlackRock was one of the biggest known holders of the embattled group's $8 billion in dollar-derived debt. BlackRock has one of the biggest known exposures to Adani's dollar debt, per Bloomberg.REUTERS/Eric Thayer The world's biggest asset manager BlackRock holds over $100 million in Adani dollar bonds, per Bloomberg. It's one of the biggest holdings among the 200 or so institutions with exposure to the Indian conglomerate. Shares in Adani Group companies have lost over $100 billion in value since a US short seller's fraud allegations. BlackRock has more than $100 million tied up in Adani Group's dollar bonds, which have come under intense scrutiny since a US short seller's scathing research note on the Indian conglomerate sparked a rout in its stocks.Filings to the SEC show the world's biggest asset manager has one of the biggest known exposures to Adani's estimated $8 billion in US currency notes, Bloomberg reported Friday.Short-seller Hindenburg Research's research note last Tuesday alleged there was a "brazen stock manipulation and accounting fraud scheme" at the Adani Group. The ensuring battle between Adani and Hindenburg has driven a rout in stocks of the group's individually listed businesses, wiping over $100 billion off their market value.Notably, concern over Adani's debt was a key pillar of Hindenburg's argument for initiating a short-sell battle with the group."Key listed Adani companies have also taken on substantial debt, including pledging shares of their inflated stock for loans, putting the entire group on precarious financial footing. 5 of 7 key listed companies have reported 'current ratios' below 1, indicating near-term liquidity pressure," it said in its research note.Adani canceled a $2.5 billion share sale this week, despite picking up enough investors to pull it off.Over 200 institutions have taken on debt from the group's companies, Bloomberg reported. Its analysis of filings covered only 18% of Adani's total dollar debt due to different reporting rules across countries, it said.  It reported that Adani is considering prepaying some loans early to restore confidence in the conglomerate's financial health. BlackRock didn't immediately respond to Insider's request for comment. Read the original article on Business Insider.....»»

Economic inequality in the US can be traced in part back to the housing shortage. It's hard to hold a job or raise kids if you can't afford a home. Getty The US hasn't built enough homes in recent decades. The shortage is among the reasons homes are unaffordable for many Americans. It could also be contributing to other problems — like inequality, low birth rates, and climate change. The US housing shortage isn't just fueling an affordability crisis. It could be contributing to several of the major problems the country is facing. Imagine you're a city-dweller living paycheck-to-paycheck. You're trying to save so you can afford a down payment on a home someday, but there's not much left to stash away after paying rent.A few years later, you buy a home that's probably a little more expensive than you can afford. You used to walk to work, but given you now live an hour away from your job in the city, you begin spending much more time in a car. You make plans to start a family over the next year, but given the cost of the home, the extra years it took to finally obtain it, and its modest size, you decide to aim for a fewer number of children than you had previously envisioned. This is the gist of the "housing theory of everything," coined in 2021 by economists Sam Bowman and Ben Southwood and housing advocate John Myers. They wrote in the Stripe-owned online magazine Works In Progress that the substantial shortage of homes in the US is a key driver of more than just falling housing affordability in recent decades. "Western housing shortages do not just prevent many from ever affording their own home. They also drive inequality, climate change, low productivity growth, obesity, and even falling fertility rates," they said.—Works in Progress (@WorksInProgMag) January 12, 2023 While roughly two-thirds of US households are owner-occupied, the country is short between 1.5 million and 6 million homes, according to various analyses. The housing market's crash during the Great Recession led the industry to pull back on construction for many years, and materials and labor shortages during the height of the pandemic fueled another slowdown. Some have pointed to complex rules and regulations — many of them related to environmental concerns — that have made it more difficult to build homes.With the US homeowner vacancy rate — the percent of units available for occupancy — near record lows, the lack of supply has contributed to soaring prices. As of last June, the combination of elevated prices and interest rates made the housing market "more unaffordable than at the peak of the runoff in 2005," Mark Palim, Deputy Chief Economist for Fannie Mae, told Insider.The housing theory of everything, however, suggests that this lack of affordability is far from the only American problem the housing shortage is contributing to. Homeowners benefit way more from a good economy and suffer less in a bad oneThe authors pointed to a 2021 paper by two University Of Michigan researchers, which concluded that the primary driver of US wealth inequality is not income inequality — but housing inequality. When housing shortages drive up home prices, it's the existing homeowners — who tend to be more well off — that benefit, the authors argued, at the expense of new homebuyers. "A fixed supply of housing means improvements in people's aggregate incomes often partially go to landowners, since people bid up the price of housing with some of their increased income," they said.And when homeownership — a driver of wealth for many families — is out of reach for Americans, this can contribute to persisting inequality. Roughly 90% of US households in the top 20% income bracket own their own homes, according to a 2021 Cleveland Fed report, compared to less than half of households in the bottom 20%. Even for households that are content as renters, a shortage of homes pushes more people to rent, which ultimately drives up rental rates.  Fewer homes in cities increases car use and worsens climate change Americans are the kings of the road. As of 2015, the US had 823 cars per 1,000 people, more than any other country in the world. In 2019, the average American traveled roughly two times the number of miles in vehicles than countries like France, Germany, or the UK. Most of these vehicles are not yet electric, which means US drivers are responsible for a boatload of carbon emissions that are fueling the broader climate crisis. While Americans surely love their vehicles, many are also dependent on them as a means of transportation. A shortage of housing in more densely populated areas like cities, the authors argued — where cars as less necessary — have pushed people out to areas where they need a vehicle to get to work and the grocery store. The authors compared the US to Japan, where they said lighter regulations have allowed the country's cities "to grow far more densely" than those in the States. On the whole, Japan is roughly 12 times more densely populated than the US. This is among the reasons, they argued, that people in Japanese cities drive significantly less than Americans and have had lower per capita carbon emissions. "Most American cities are far too spread out to get around by walking, cycling or even public transport, which needs dense pockets of population to be efficient," they said.When increased driving leads to less physical activity among a substantial portion of the population, obesity could become a more likely outcome as well. The authors noted that in Manhattan, the heart of the US's most densely populated city where less than a quarter of households own a car, the obesity rate is less than half that of the national average.America's obesity rate has shot up in recent decades, and it's had significant health consequences. Experts haven't come to a consensus on why this has happened, but a failure to build housing — particularly in cities — could be part of the answer. Families may put off having kids if they don't have the spaceIn 2021, the US fertility rate remained near the record-low 2020 figure since the data became available in the 1930's. Similar to the obesity spike, experts have pointed to several explanations for the decline in past decades, including increased accessibility to contraception, the growth of women in the workforce, and the high cost of raising children. But housing could be another piece of the puzzle. When a larger living space isn't affordable, it may dissuade people from starting or expanding their families. The authors cited a 2016 UK study that found a 10% rise in house prices was associated with a 1.3% fall in overall births. A 2018 Zillow study came to a similar conclusion when analyzing US data. And even if families manage to land a larger home, the high cost it took to acquire it may lead some to ultimately have fewer children than they had initially planned. Read the original article on Business Insider.....»»

Bundling plastic-surgery procedures can be a great way to shorten recovery. New York plastic surgeon Robert Westreich taught us how and when to do it. Courtesy of Dr. Robert Westreich Dr. Robert Westreich is a plastic surgeon in New York who specializes in facial surgery. Westreich told Insider it seems like bundling surgeries escalated during the pandemic. "If you're thinking of bundling, find a surgeon with humility to call in other experts," he says. This as-told-to essay is based on a conversation with Dr. Robert Westreich, a plastic surgeon in New York who specializes in facial surgery. The conversation has been edited for length and clarity.In the last few years, I've noticed that patients are more interested in "bundling" plastic surgeries than ever before. Bundling in the plastic surgery world means that you're getting more than one procedure done at the same time, like an eye lift and a face lift all in one go.The trend of bundling plastic surgeries seems like it escalated during the pandemicIt's a sort of natural progression of the "Zoom boom" — an increase in plastic surgery after people spent so much time looking at themselves on Zoom. As patients became more interested in booking procedures, they also had more time to look at other procedures and consider other things they might want to get done. And if you're going to have multiple surgeries, why not do them at the same time instead of having two or three or four separate surgical encounters? Courtesy of Dr. Robert WestreichPeople tend to think: "Okay, let me just get all this over with at once and let the healing happen, instead of doing it piecemeal over a few months and having to take time off for healing after each procedure."In my medical opinion, there's no inherent risk in bundling proceduresThat's why it's become more popular. For it to get risky, the surgery time would have to last longer than six to seven hours, and 90% of the time with plastic surgery, surgery doesn't last that long. When surgery does last that long, the risk comes from recovering from the amount of anesthesia needed. If you bundle enough procedures to need an eight- to 10-hour surgery, that's when I would say it becomes risky, especially if it's all elective and cosmetic.A doctor should be the gatekeeper of whether you bundle procedures There are some things that shouldn't be bundled from a recovery standpoint. The classic example is that you wouldn't get a Brazilian Butt Lift (where you're not supposed to sit down for weeks afterwards) and a rhinoplasty (where you're not supposed to be lying on your face) at the same time. You want to make sure that the after-care instructions don't contraindicate each other. Courtesy of Dr. Robert WestreichBut for something like getting brow work and eye work and a face lift and a rhinoplasty all at the same time, that wouldn't be an issue. All those procedures are facial surgery and have similar after-care instructions.If you're thinking of bundling, make sure you find a surgeon with enough humility to call in other expertsI'm more of a facial specialist, so when a patient wants body work done at the same time as a rhinoplasty, I'll confer with a colleague and see if they can come help out. You want a surgeon who can admit they're not well versed in some areas and isn't afraid to ask a colleague to join in. It's actually fun for us to do collaborative surgeries, as surgery can often be a lonely venture. People have always bundled facial surgeries together, but now patients are wanting to bundle procedures on different parts of the body, which is where multiple surgeons can come in. If someone wants a facial procedure and liposuction or a breast augmentation at the same time, that may not be the work of one single doctor.Surprisingly, recovery isn't usually elongated by multiple proceduresThat's because each area that's healing is healing independently, and they don't affect each other. Assuming that you're a young, healthy person who gets a rhinoplasty and a breast augmentation, then your nose will have its own healing timeline and your breasts will have their own healing timeline. One doesn't directly interact with the others.For patients who are considering bundling plastic surgery procedures, I would advise taking the time to choose a doctor (or doctors) who fit your case and making sure you really understand the after-care instructions.Other than that, happy bundling!Read the original article on Business Insider.....»»

The switch from in-person to remote work has caused an increase in passive-aggressive behavior. Here are 4 tips for reducing its destructive power. The sudden shift from in-person interactions to online communication has led to an increase in passive aggression at work.praetorianphoto/Getty Images 71% of employees blame passive aggression for their lack of effort at work. Workplace passive aggression can appear as sarcasm, the silent treatment, or spreading gossip. To combat it, keep lines of communication open and reflect on your own behavior regularly.  The way that employees communicate has changed significantly as companies migrated to remote work during the pandemic. Online culture became the norm and companies were forced to rethink how to maintain employee engagement and community. However, the sudden shift from in-person interactions to online communication has led to numerous issues, including an increase in passive aggression. In fact, research conducted by my company Go1 shows that seven out of ten Americans are experiencing higher levels of passive aggression in the workplace compared to before the pandemic.Passive aggression's destructive powerOver the past year, there have been several employee-driven movements in the corporate world. "Quiet Quitting" has been gaining popularity and can be linked to the rise of passive aggression in the workplace.Toxic behaviors like passive aggression can not only lead to turnover but can also create a culture where employees feel unmotivated. This has also had further impacts on employees' attitudes and led to a decrease in productivity. So much so, that 71% of employees blame passive aggression for their lack of effort at work. If left unchecked, these behaviors can create a negative feedback loop that further harms the company's culture and workforce.To build a healthy culture and maintain employee engagement, it is important to break this cycle. Here are four key tips to help combat passive aggression and transform toxic workplaces back into healthy ones.1. Identify the causeWorkplace passive aggression can manifest itself through a number of different behaviors, such as sarcasm, giving someone the silent treatment, or spreading gossip. Rather than simply focusing on the negative behaviors, it is important to ask why these behaviors are occurring in the first place.Reflect on any recent organizational changes or major projects that may have caused tension or conflict in the workplace. Additionally, consider any personal factors that individuals may be experiencing outside of work that are affecting their behavior. Performance reviews and exit interviews are great ways to gather this information.Was there a 'bad' manager who practiced favoritism? Did your company produce an always-on culture that blurred work-life balance?Once the root cause of passive aggression has been determined, collaboration with different departments can help develop solutions that address the specific underlying cause. For example, this may involve providing leadership training for the manager who is not treating their colleagues equally or implementing an updated PTO policy to help employees unplug and recharge while setting boundaries.2. Look into soft-skills trainingMore than half of Americans revealed passive-aggressive coworkers would benefit from appropriate soft-skills training. Educating your workplace on how to improve their communication, time management, and problem-solving skills is the key to preventing passive-aggressive behaviors before they happen.In 2022, major tech companies made headlines for their handling of difficult news such as layoffs. Communication-skills training could have played a role in teaching both managers and employees how to voice their concerns and handle these difficult conversations without being passive aggressive. The University of California, Berkeley recently introduced a course that focuses on role-playing these exact conversations, which have already seen great results. Many of the students who reported being conflict-avoidant before taking the course now believe practicing these conversations led to building trust and intimacy.For workplaces looking to reduce passive aggression in the workplace, it is important to create a culture of trust. Companies with high levels of trust typically have higher productivity and avoid micromanagement. This allows managers to trust that employees know how to prioritize their tasks, and employees to trust that managers know how to delegate tasks effectively to prevent burnout.3. Create an open line of communication with HR specialistsIt is crucial for employees to feel comfortable and confident communicating openly with HR leaders within their company. These individuals have an influence on a company's culture and ways of working — they can implement and share resources to reduce passive-aggressive behavior and in turn, create healthier work environments.One way to implement this change is to increase the frequency of check-ins with HR. The specific interval at which these check-ins occur (e.g. quarterly or biannual) will depend on the size of your company. Larger companies may require more frequent check-ins, while a smaller company may be able to hold them less often.Having these check-ins provide more opportunities for employees to voice any concerns and frustrations directly to HR, rather than harboring negative feelings or expressing them indirectly through passive-aggressive behavior.HR leaders can also provide guidance and support to employees on communicating effectively and assertively, which can help prevent misunderstandings and conflicts that can lead to passive aggression.4. Be accountable and reflect on your own behaviorIt is common for people to engage in passive-aggressive behavior out of frustration, so the fact that nearly 70% of Americans admit to being passive-aggressive should not come as a surprise. Entrepreneurs are not immune to passive aggression, but by holding yourself accountable and taking responsibility for your actions, you can set a positive example for others to follow.You don't have to make a big announcement every time you behave passive-aggressively. Instead, you can show accountability by simply acknowledging to the person on the receiving end of your behavior that you were reacting out of emotion. This could be as simple as sending them a direct message apologizing for your behavior and reiterating that you'll communicate better in the future. This simple gesture can go a long way in building trust and improving communication within your team — motivating others to follow suit and express their thoughts and feelings directly.As business leaders, it's important to recognize the impact your work culture can have on your team and your bottom line — especially considering that toxic work cultures can cost businesses more than $44 billion each year, with one in five employees leaving due to this issue.Marc Havercroft is president of the corporate e-learning solution company Go1.Read the original article on Business Insider.....»»

Bringing the Long Island Rail Road to Manhattan's east side was expensive and slow. Other major US infrastructure projects face similar risks. People explore a new platform after the first Long Island Rail Road train arrived at Grand Central Madison last week.Seth Wenig/AP New commuter rail service to New York City's Grand Central Terminal began last week. The new station cost more than three times its initial budget and faced significant delays. It's an example of the US's broader struggle to build in recent decades. Commuters from a swath of New York City suburbs have a slick, new way to get to the east side of Manhattan by train. And it took only 50 years and $11.1 billion to make it happen. The new rail service, which began limited operations last week, delivers riders to a gleaming new station some 15 stories beneath the soaring limestone facade of Grand Central Terminal. All told, commuters using the new lines on the Long Island Rail Road could save 40 minutes round trip compared with connecting through the LIRR's main station on the city's west side.The time savings for passengers on North America's busiest commuter rail line aren't insignificant — if they materialize — yet the project's duration and price tag pose an obvious question: Was it worth it? The years of delays and exploding costs that plagued the LIRR expansion highlight a broader problem imperiling transit projects across the US: They're rarely on time or on budget. As an infusion of cash enters state coffers under President Joe Biden's infrastructure law, some analysts worry that efforts to modernize the nation's aging transportation system will face similar setbacks that leave the country far behind where it needs to be."If you look at other Western-style democracies, be it Japan, South Korea, or Western Europe, we just don't see anywhere near the kind of costs that we see in the US," Ethan Elkind, a law professor at the University of California, Berkeley, and the director of the school's climate program, told Insider. "This is a national problem." America's slow and expensive building isn't constrained to rail projects. Some experts say the US has a broader problem of scarcity and that it's among the reasons that prices for housing, healthcare, childcare, energy, and even college have skyrocketed in recent decades. Various analyses have put the size of the US housing shortage, for instance, at somewhere between 1.5 million and 5 million homes. It's led some politicians and economists to call for an "abundance agenda" to make it easier to build more homes, train more doctors, increase access to great education, and invest more in renewable energy — all initiatives that could help drive prices lower. Construction on the terminal 10 years ago in 2013 shows the skeleton of a now-polished train platform.Mary Altaffer/APIn-progress escalators at the station in 2018. Train platforms at Grand Central Madison are well over 100 feet underground.Mary Altaffer/APPeople walk past a mural in the new Grand Central Madison last week.Seth Wenig/APThe 'most expensive mile of subway track on earth'A rundown of how the new LIRR station came to be shows how big projects can spin out of control.The idea for the expansion is roughly 50 years old, though recent construction didn't begin until around 2010. In 2001, the plan to bring LIRR trains to Manhattan's east side was estimated to cost $3.5 billion, or $1 billion for each mile of the 3.5-mile tunnel. By completion, the cost for the new station — called Grand Central Madison — had surged to more than $11 billion, or nearly $3.5 billion for each mile of track — seven times the average cost in the rest of the world. In 2017, The New York Times called it the "most expensive mile of subway track on earth" as part of an investigation into the city's transit woes.It's not just a New York problem. There are overruns from Maryland to California. A 16.2-mile metro line linking the Maryland suburbs of Washington, DC, was initially estimated to cost $2.4 billion. Construction costs rose to an estimated $3.4 billion in 2022, and the project, known as the Purple Line, is about five years behind schedule.In 2008, California voters approved a high-speed rail system from San Francisco to Los Angeles, in what was America's first attempt at a bullet train. The estimated cost of the project has nearly tripled since then, from $33 billion to $105 billion. It's also years behind schedule and might not be even partially open until 2030.Elkind pointed to several causes for the runaway costs: The US has many layers of federal, state, and local government involved in big infrastructure projects. This creates opportunities for officials to block projects from moving forward or extract political compromises that can come with higher costs, Elkind said.The US also has lengthy permitting processes and a slow legal system for resolving disputes. Local landowners and homeowners, environmental groups, and other parties can lodge complaints that set a project back. Diana Furchtgott-Roth, the director of the Heritage Foundation's Center for Energy, Climate, and Environment, put it this way: "The problem is that our governmental system works too well. Everybody can have input, and because everybody can have input, there's numerous opportunities for slowing it down. Then costs go up."Furchtgott-Roth, who served as a deputy assistant secretary at the Transportation Department during the Trump administration, added that federal and state project agreements requiring unionized labor could also inflate costs. Elkind said the bipartisan infrastructure law didn't include major changes to the status quo, adding that made him worried that a lot of the $550 billion in authorized new spending would be "wasted on the inefficiencies" in US planning, permitting, and construction processes. Biden joined Gov. Kathy Hochul of New York and Gov. Phil Murphy of New Jersey on Tuesday in New York to announce a nearly $300 million federal grant to jump-start construction on a long-delayed rail tunnel under the Hudson River. The so-called Gateway Program has been a political football for years. "No more talk," Hochul said. "We had four presidents, five governors, and a lot of talk. That's just in our state. Now things are starting to happen."Building wasn't always so much of a struggle. Between 1900 and 1904, New York City built and opened each of its original 28 subway stations. A century later, it took 17 years to construct just three new stations.Supporters of the abundance agenda say more building projects should be done in a timelier fashion and don't have to come at the expense of the environment."We can have more energy, more housing, better roads, airports, and trains, and better access to education/job training without destroying the planet," Adam Millsap, a senior fellow at the right-leaning funding organization Stand Together, previously told Insider.Read the original article on Business Insider.....»»

Ugg boots, which went from being a must-have item to fashion's biggest faux pas in the mid-2010s, are back in fashion. Ugg's $150 ultra mini platform boot.Getty/Christian Vierig Ugg boots are back in fashion. The sheepskin-lined boots have become a must-have item for Gen Z shoppers. Fashion-search index Lyst said Thursday that the brand was one of Q4's hottest items.  Ugg boots are officially cool again. The sheepskin-lined boots — which started life in California in the 1970s, inspired by Australian beach shoes for surfers in Australia — became popular in the early 2000s when they were picked up by the fashion crowd. In recent years, they have increasingly become the footwear of choice among younger generations.The Ugg brand has gradually made a comeback over the past few years after a nearly decade-long hiatus. This comeback was initially sparked by the "ugly fashion" movement, where ugly products became so ironic that they were fashionable. Now, younger shoppers are snapping up Ugg's $150 ultra mini platform boots, which have been worn by the likes of Kylie Jenner and the Hadid sisters. So much so, that these cozy boots are rarely in stock. Fashion search site Lyst released its quarterly index of the hottest brands in the fourth quarter of 2022 on Thursday. Ugg was listed as one of the top 20 brands for the first time since the index was created in 2017."The power of a strong Gen Z following is undeniable," Lyst analysts wrote, adding that searches of these boots spiked by 82% over the holiday season and were sold out at most retailers for the entire fourth quarter.Its comeback has shown up in its parent company's financials in the past 12 months. Deckers Outdoor Corp, which also owns the sneaker brand Hoka, saw sales at its Ugg brand grow throughout 2022. But in its most recent quarterly results, reported after market close on Thursday, sales at Ugg dropped by 1.6% versus the same period the year before.In a call with analysts on Thursday, Deckers execs said that consumer demand for its Ugg brand was still strong. He said weaker numbers during the quarter were partly driven by supply chain issues, which meant the brand wasn't able to get enough stock in time. Read the original article on Business Insider.....»»

The Chewy cofounder and GameStop chairman is reportedly one of the department-store chain's largest non-family shareholders already. Ryan Cohen.Courtesy of Chewy.com Ryan Cohen is building a significant stake in Nordstrom, The Wall Street Journal reported. The Chewy cofounder and GameStop chairman wants to refresh the company's board, The Journal said. Cohen has made several bets on ailing retailers, including GameStop and Bed Bath & Beyond. Nordstrom shares soared as much as 37% in premarket trading on Friday, as investors cheered the news that Ryan Cohen may be building a significant stake in the luxury department-store chain.Cohen, the billionaire cofounder of Chewy and chairman of GameStop, is now one of Nordstrom's five largest non-family shareholders, The Wall Street Journal said, citing people familiar with the matter. The activist investor plans to engage with the company's board and push for at least one of its directors to be replaced, The Journal reported.Nordstrom shares have plunged by roughly 75% over the past eight years, slashing the company's market capitalization from a peak of $15 billion to below $4 billion as of Thursday's close. The shares were up 29.8% at $27.44 as of 6:02 a.m. ET. Like many predominantly brick-and-mortar retailers, Nordstrom has struggled to navigate the shift from in-person to online shopping. Cohen has targeted several companies in similar positions, making him a key figure in the meme-stock craze, where retail investors pile into cheap, unloved stocks to punish short sellers and pocket big returns.For example, he bought into GameStop in August 2020, which helped to galvanize an epic spike in the video-game seller's stock price in January 2021. He continues to serve as the company's chairman and is working to modernize its business. Cohen also bet on Bed Bath & Beyond last spring, but sold his stake for an estimated $68 million profit in August.Cohen has ventured outside of the retail space too. He built an Alibaba stake worth hundreds of millions of dollars in the second half of 2022, The Journal reported in January. He also plowed virtually all of his profits from selling Chewy in 2017 into just two stocks, Apple and Wells Fargo.With Nordstrom, the e-commerce specialist may be seeking to emulate one of his role models, Warren Buffett, who specializes in identifying and investing in undervalued businesses. Ted Weschler, one of Buffett's deputies, made a similar play when he built a nearly 6% stake in Dillard's in 2020 (he sold the position in 2021 for a roughly five-fold return.)"Value doesn't move but stock prices do, creating an opportunity if you have the right temperament to buy stuff on sale," Cohen told Insider in a 2021 interview.Read the original article on Business Insider.....»»

The famed investor said her flagship fund, ARKK, offers investors more exposure to disruptive innovation stocks than the tech-heavy benchmark index. Cathie Wood is the CEO and chief investment officer of ARK Invest, which runs three of the highest-returning stock ETFs of the last three years.ARK Invest Ark Invest CEO Cathie Wood glorified her flagship fund as "the new Nasdaq" in a Thursday Bloomberg interview.  The famed investor said ARKK offers investors more exposure to disruptive innovation stocks than the benchmark index. Her comments come after the Ark Innovation fund just logged its best month ever in January, rising 28%.  Famed investor Cathie Wood hailed her flagship Ark Innovation (ARKK) fund as "the new Nasdaq" after it notched its best ever monthly performance in January. In a Bloomberg interview on Thursday, the Ark Invest CEO said ARKK gives investors more exposure to disruptive innovation stocks than the tech-heavy benchmark index. "As we were getting hit so badly, what we also saw is investors taking tax losses in some of Nasdaq and other strategies and moving into our strategy, which was hit so hard, because they did believe that we were going to rebound faster." "We are the new Nasdaq," Wood said, as a selling point to investors of her fund. "Look through [the Nasdaq] now, you will not find the kind of disruptive innovation, it certainly doesn't dominate those indexes," she added. Wood's exchange-traded fund delivered a 28% gain for January following two years of low performance - it dropped 69% in 2022 and 21% in 2021.ARKK has rebounded as tech stocks like Tesla, Spotify and Roku, which make up a large chunk of its portfolio, made a strong comeback at the start of 2023. Meanwhile, the Nasdaq rose just 10.62% last month. Compared to ARKK, the Nasdaq 100's top holdings include Amazon, Microsoft and Apple. The gain in Wood's fund was bolstered by investor optimism that cooling US inflation would prompt the Federal Reserve to ease up on its aggressive campaign of interest-rate increases, which have been adding pressure on corporate finances.According to Wood, "innovation was one of the biggest victims of the massive interest rate increase we saw last year. It was like an earthquake." She added however, that she would not be surprised to see the Fed cut rates this year.Read the original article on Business Insider.....»»

If you want to start a side hustle selling your clothes on Poshmark, know that its algorithms favor engagement, just like social-media apps do. The author ships out another Poshmark order.Jennifer Ortakales Dawkins/Insider Many people are starting resale side hustles on Poshmark, myself included. I've learned that engagement on the app determines my sales more than anything else. Here's how the algorithm works and how to use it to your advantage. If there's one thing you should know about starting a resale side hustle on Poshmark, it's that your engagement on the app determines your sales more than anything else.You can use the app's algorithms to your advantage. In fact, if you think of Poshmark more as a social-media platform and less as a marketplace, you may see greater success. The more time you spend on the app engaging with other users, the more you get out of it.From mothers to college students, many people are turning to at-home side hustles like selling on Poshmark amid recession fears. Some Poshmark sellers can make six figures in sales on the platform. I started selling on Poshmark in June to get rid of clothes I didn't wear and make room for my thrift-shopping habit. I hoped to earn a little cash from it but wasn't expecting anything major: Having interviewed several Poshmark sellers who've earned six figures, I knew that getting to their level was a full-time job.I made my first sale about two weeks after listing my first 15 items. From there, it became an addicting game to list more clothes and make another sale. In seven months, I've listed 60 items, made 10 sales, and earned $78.68, which isn't too bad for clothes I would have normally given to my local donation store.Here's how the algorithm works and how to use it to your advantage.If you need an explanation of any of the Poshmark lingo used below, check out this. Getting likes, followers, and sales on Poshmark is just as addicting as it is on social mediaA screenshot of the author's Poshmark closet.Jennifer Ortakales Dawkins/ScreenshotAs soon as I started listing my clothes on Poshmark, I got a wave of followers on the app. But I realized that a few hundred followers were nothing by Poshmark standards. Power sellers can have between 80,000 and 200,000 followers. I'm at a meager 4,230.As people liked and shared my listings, I became hooked on refreshing my feed. And I felt compelled to list more clothes. I scavenged my closet for more things I could part with. Poshmark incentivizes sellers who engageMy first sale on Poshmark. I like to personalize my orders with a handwritten thank-you note.Jennifer Ortakales Dawkins/InsiderBecoming a Poshmark ambassador is a coveted status on the app.Once you get this special star on your profile, it signals that you're a trusted seller with proven results, and your listings will be promoted more prominently in people's feeds.Some of the requirements to reach this milestone are pretty simple, like sharing 50 new sellers' listings and maintaining an average 4.5 seller rating from customers.My sales dashboard. From August to October, I wasn't listing or sharing. In December and January, I listed more clothes and shared almost every day.Jennifer Ortakales Dawkins/InsiderOthers are time-consuming, like sharing your listings 5,000 times and sharing other sellers' listings 5,000 times.Some sellers purchase apps or hire virtual assistants to do these tedious tasks for them. Or you can do it the old-fashioned way, as I have, and slowly share as many listings as possible. Ultimately, the ambassador program is just another way Poshmark gets users to stay engaged.The company's CEO calls this building a "community," but it all points to it being more of a social platform than a resale marketplace.TL;DR: More engagement equals more salesMost social apps share a common goal: Keep users on their feeds for as long as possible. So if you want to make money on Poshmark, you'll have to put in the time. One hack I've discovered to quickly gain more followers is to go to the "new people" tab and hit "follow" on every account as you scroll through.Doing this can increase your followers, bringing more eyes to your listings and making sales more likely. This is also probably why new sellers get a ton of followers when they first join or list items.The more you list, share, and follow, the more sales you'll make.Read the original article on Business Insider.....»»

Amazon will now only hire students and new grads for entry-level software positions, according to an internal memo shown to Insider. Do you have layers and layers of bosses, reader? I'm Diamond Naga Siu, and long chains of command are pretty common at tech companies. But middle managers could be the latest layoff target in tech, especially after Mark Zuckerberg's latest reported comments. After so many people were cut, those middle managers now have fewer workers to oversee. This makes them a natural next layoff target.I honestly feel bad for middle managers. As the name implies, they're stuck in the middle, neither worker nor upper-management. And they need to try keeping everyone happy (meanwhile, a study even found that they're more likely to be anxious and depressed). Yikes.But if Zuck is on point, far fewer people could hold these precarious roles — at least at Meta.Anyways, I'm just a worker trying to share 10 interesting stories a day. So let's dive into some tech.If this was forwarded to you, sign up here. Download Insider's app here.Mike Blake/Reuters; Savanna Durr/Alyssa Powell/Insider1. Leaked Amazon memo reveals new hiring strategy. The e-commerce giant is only hiring students and new grads for entry-level software positions, per an internal note reviewed by Insider. The change took effect January 25, 2023.People more than 12 months out of school won't qualify anymore for the lowest software development engineering position, called SDE-1. This means hiring from student programs is now an even higher priority.The change is "global and Amazon-wide," reports Insider's ace Amazon correspondent Eugene Kim. Plus, exceptions require approval of VPs or higher.It's possibly a cost-cutting method for the infamously frugal company. This pivot targets a younger and more affordable group of workers. And it comes in the middle of a major restructuring of the company.More on Amazon's latest hiring strategy here.In other news:iStock; Rebecca Zisser/Insider2. Reddit is kicking laid off employees while they're down. The social media platform has blamed low performance for axing employees. But ex-Redditors slammed the company for its "cruel and dishonest" messaging that they fear could "kill" their chances of getting hired elsewhere. This is what they told Insider.3. Zuckerberg unveils a new era for tech. Google made cushy tech perks and chasing wild ideas vogue, writes my editor Matt Weinberger. But just as quickly as it came, Mark Zuckerberg ejected it with a reality check. Learn about the leaner tech era here.4. The 10 jobs ChatGPT will most likely replace. Experts said the new technology particularly threatens "white-collar" jobs. Financial analysts, traders, paralegals, and software engineers are among those at risk. Check out the others here.5. Salesforce just did another round of layoffs. The number of people cut is unclear. But one person told Insider that the company-wide Slack channel now has 4,000 fewer members. Another said sales and marketing were the most impacted. Here's everything you need to know about the latest cuts.Thursday's tech earnings:Apple CEO Tim Cook has been embroiled in a battle with staff over plans to mandate which days they are in the office.Brian Stukes / Contributor Getty6. Apple: The iPhone maker is the last tech giant standing. CEO Tim Cook acknowledged hurdles the company is currently facing. But its response won't include cost-cutting, layoffs, or strategy shifts. Instead, the company outlined investments in innovation and its people.7. Alphabet: Google is highlighting how important AI is as it cuts costs. The company announced that it will start disclosing investments in AI. Meanwhile, it expects to spend $500 million to reduce office space and up to $2.3 billion in severance packages. More on Google's AI future here.8. Amazon: bracing for even tougher conditions. The e-commerce giant announced that it plans to have "even faster" deliveries. Yet it's simultaneously bracing for decreased customer spending on its cloud side. CEO Andy Jassy personally shared his top priorities.Odds and ends:Mercedes-Benz EQS with Drive Pilot.Mercedes-Benz9. Mercedes just beat Tesla at its own game — self-driving. Mercedes just introduced the most advanced self-driving technology yet. It couldn't come at a worse time for Tesla after it faces struggle after struggle. Hop in for a first look at the Mercedes Drive Pilot here.10. Ticketless baby ditched at airport check-in. The tardy parents "ran toward the security checks," authorities said. They reportedly arrived after check-in closed and without a ticket for their baby. More on the abandonment issue here. Bonus: Watch this video that appears to document the moments after they deserted their infant.The latest people moves in tech:An Amazon Web Services exec who was accused of gender discrimination is leaving, according to leaked docs.This Google recruiter found out she was laid off while on maternity leave and feeding her 3-week-old baby.Curated by Diamond Naga Siu in San Diego. (Feedback or tips? Email dsiu@insider.com or tweet @diamondnagasiu) Edited by Matt Weinberger (tweet @gamoid) in San Francisco and Hallam Bullock (tweet @hallam_bullock) in London.Read the original article on Business Insider.....»»

San Francisco officials ordered Twitter to restore its bedrooms back to offices in 15 days if it doesn't label them as sleeping areas, per a notice. A former Twitter worker previously said Elon Musk had often slept in the company's offices.David Odisho/Getty Images; Gotham/Getty Images San Francisco told Twitter to label converted bedrooms as sleeping areas, per a correction notice. If it doesn't comply, Twitter has 15 days to convert the bedrooms back to offices in its HQ. Officials launched an investigation in December into Twitter's office bedrooms. Twitter was told to correctly label converted bedrooms as sleeping areas in its San Francisco office straight away, according to a correction notice reviewed by Insider.San Francisco's Department of Building Inspection on Monday issued a correction notice to Twitter's construction contractor regarding the use of conference rooms as bedrooms in the company's headquarters on 1355 Market Street in San Francisco.The building officials said that during an investigation, "it was observed that some of the conference rooms were being used as employee sleeping or rest areas," according to the notice. "Beds were present in these rooms.""Please obtain a revision to properly label these rooms for the use as intended today or restore rooms to original use within 15 days," the notice said.Dan Sider, San Francisco Planning Department's chief of staff, told the San Francisco Chronicle that Twitter's building wasn't out of compliance with normal office use and didn't seem to be "radically different" from other offices. He added that sleeping pods and rest areas were common in modern offices.However, it was important to distinguish whether the bedrooms were being used for naps or full-time residence, which is charged differently to commercial buildings, Sider told the Chronicle.Twitter, acquired by Elon Musk in late October, didn't immediately respond to Insider's request for comment made outside of normal US operating hours.In December, Twitter staff discovered beds, mattresses, curtains, bedside tables, and lamps in some conference rooms, Forbes first reported. Photos obtained by BBC News reporter James Clayton showed sofas that had been turned into beds, along with a wardrobe and a washing machine inside Twitter's HQ.Patrick Hannan, the Building Inspection Department's communications director, confirmed to Insider in December it was investigating reports that Twitter had converted some office rooms into sleeping areas in its HQ.Musk, in December, defended the bedrooms, saying he was simply "providing beds for tired employees."Reports of the bedrooms in Twitter's offices came after an employee shared a photo of his boss Esther Crawford, the director of product management at Twitter, sleeping on the office floor. A former Twitter employee told BBC News that Musk had often slept in Twitter's offices since taking over the company. Musk has previously spoken about how he used to sleep under his desk or on couches in Tesla factories.Read the original article on Business Insider.....»»

Insider's Phil Rosen breaks down why stocks could stage a rally and the meaning of a key bullish bond market metric. Happy Friday, team. I'm senior reporter Phil Rosen. In case you missed it, the European Central Bank Thursday made a half-point interest rate hike, marking its fifth consecutive move as part of its inflation-fighting efforts.EU policymakers plan to make the same sized hike at their meeting in March, similar to expectations for the US central bank to repeat yesterday's rate hike at its next meeting.  Speaking of rates, today we're going over a key economic indicator that suggests more upside ahead for stocks. If this was forwarded to you, sign up here. Download Insider's app here.REUTERS/Brendan McDermid1. Ever since the Fed started tightening policy last March, the stock market has been highly susceptible to interest-rate volatility. And as Insider's Anil Varma writes, falling bond-market volatility is now underpinning the rebounding investor confidence in equities. Based on stocks' blistering January rally, there seems to be a growing sense of optimism for 2023 — despite bleak Wall Street forecasts, as well as the Fed's insistence that more rate hikes are coming.Specifically, the MOVE Index — which measures volatility of US Treasury yields — has dipped to lows that haven't been seen since the Fed's first rate hike of this cycle. This means potentially smaller swings in the stock market as highly rate-sensitive equities get some relief after big rate moves battered indexes in 2022. Data shows that the trajectory of the S&P 500 has been almost a perfect inverse image of the MOVE index over the past year, illustrating the market's heightened sensitivity to the interest-rate outlook.All the while, US trading trends have pointed to increasingly positive market sentiment, as has a key "golden cross" indicator that's widely considered a bullish sign. Stocks saw sustained rallies in 2016, 2019, and 2020 following the flashing of the golden cross.And since Jerome Powell didn't completely dash investors' hopes of a dovish policy pivot at his speech on Wednesday, the market's enthusiasm looks poised to hold up, according to billionaire "bond king" Jeffrey Gundlach."There was just something about his demeanor," Gundlach told CNBC. "He just seems like he has confidence, he feels comfortable in where he's gotten to, and I think everybody kind of sensed that. And he obviously did not fight back against market pricing."Are markets right to feel confident after Powell's speech and heading into the rest of 2023? Tweet me (@philrosenn) or email me (prosen@insider.com) to let me know. In other news:Ray DalioYouTube / NYT Conferences2. European stocks and US futures fall early Friday, after gloomy earnings from Amazon, Google, and Apple underlined the troubles facing Big Tech. Meanwhile, Nordstrom shares shot up after Ryan Cohen reportedly took a stake. Here are the latest market moves.3. Earnings on deck: Mitsubishi, Cigna, and more, all reporting.4. Following the Fed's latest rate hike, economists and strategists shared where to put cash right now. Top experts from across Wall Street broke down the best investments to make as the central bank's policy threatens to tip the economy into a recession. See the 8 recommendations. 5. Mark Zuckerberg's net worth spiked $12 billion this week thanks to Meta's stock rally. Investors have cheered the social media company's cost-cutting plans, and the founder has reaped the rewards. Now Zuckerberg's sitting on roughly $69 billion.6. Ray Dalio warned that "money as we know it is in jeopardy." The Bridgewater Associates founder told CNBC that there's a looming currency crisis with too much money printing happening. Here's what the legendary investor sees as the best option moving forward.7. Oil giant Shell said it will spend $4 billion buying back shares. The announcement follows the company reporting its highest-ever annual profit. Over the last year, Shell booked massive natural gas business thanks to sky-high prices. 8. Here's how to pinpoint the housing markets that will see the biggest declines in 2023. BiggerPockets' star Dave Meyer predicted housing prices will drop across the country, but said regional shifts will vary widely. He also explained why real estate in the most expensive cities could fall 30%. 9. Jeremy Grantham's right-hand man shared five trades to start making right now. These moves, according to Ben Inker, can provide the best returns and the smallest downside risk in the cheapest parts of the market. Get the details.Carvana stock on Feb. 3, 2023Markets Insider10. Stocks like Carvana and Bed Bath & Beyond are getting a huge boost right now. Risk appetite is returning to markets now that the Fed has acknowledged falling inflation. In his Wednesday speech, Powell mentioned the word "disinflation" 13 times.Curated by Phil Rosen in Los Angeles. Feedback or tips? Tweet @philrosenn or email prosen@insider.comEdited by Max Adams (@maxradams) in New York and Hallam Bullock (@hallam_bullock) in London.Read the original article on Business Insider.....»»

After two months of unlimited free use, OpenAI has announced ChatGPT plus, a $20 per month subscription model. Sam Altman, CEO of OpenAI, which created ChatGPT.Steve Jennings/Getty Images After two months of unlimited free use, OpenAI has announced a subscription model for ChatGPT. Users will still be able to access the chatbot for free but those who pay will get extra perks. Here's what we know about the difference between ChatGPT Plus and the free version. After around two months of unlimited free use, OpenAI has finally announced plans to monetize its viral AI chatbot, ChatGPT — at least in part.Users will still be able to access the chatbot for free but those who pay a monthly subscription for "ChatGPT Plus" will have priority at busy times and access to new features. Some form of a subscription model for ChatGPT has been in the works for a while. OpenAI's CEO, Sam Altman, floated the prospect in December, calling the operating costs "eye-watering" in a Twitter post. Last month, OpenAI opened a waitlist for the "experimental" update.US users on OpenAI's waitlist will be invited to subscribe to ChatGPT Plus in the next few weeks. Here's how the paid version differs from the free one. Access during peak timesChatGPT's huge popularity has meant some users struggle to access the chatbot when the site is particularly overloaded. Frequent users will be familiar with the "ChatGPT is at capacity now" holding page. However, paying users will get "general access to ChatGPT, even at peak times," OpenAI said in a blogpost.Faster responsesChatGPT usually generates its responses in a matter of minutes or even seconds for simple queries. ChatGPT Plus promises an even faster response time. Sometimes the chatbot can lag with lengthy requests and users are left waiting.It's unclear how powerful the paid version will be but the company is offering up the potential of speedier responses for users with time-sensitive tasks. New features ChatGPT Plus also promises priority access to new features and improvements. It's unclear at this point what these new features will be but OpenAI has already been updating the chatbot with small improvements. OpenAI incorporated feedback mechanisms in the rollout of ChatGPT. There is an option to thumbs up or thumbs down to the chatbot's answers and users can provide more context when things go wrong, allowing OpenAI to collect feedback.It's likely important improvements will also be rolled out to the free version but paying subscribers may get first dibs on coveted new features.Read the original article on Business Insider.....»»

The live feed, provided by NASA, shows astronauts Nicole Mann and Koichi Wakata performing the second spacewalk of 2023. Expedition 68 Flight Engineer Koichi Wakata of the Japan Aerospace Exploration Agency (JAXA) is pictured in his Extravehicular Mobility Unit (EMU), or spacesuit, during a seven-hour and 21-minute spacewalk to install a modification kit on the International Space Station's starboard truss structure preparing the orbital lab for its next roll-out solar array.NASA Two astronauts are making a seven-hour spacewalk today outside of the International Space Station. According to NASA, the astronauts are preparing the station for its next solar array installation. This is the 2nd spacewalk of 2023, after astronauts had problems installing arrays during a January mission.  NASA astronaut Nicole Mann and Japan's Koichi Wakata are spacewalking outside of the International Space Station today to complete modification kits for the next sollar array installation on the station, according to a blog from NASA.NASA is currently streaming Mann and Wakata's spacewalk live:Mann and Wakata's mission began early Thursday morning EST and will last approximately seven hours. The astronauts are currently preparing to install two final solar arrays on the ISS. According to NASA, once all six arrays are operational, they will bost the station's power supply by 20% to 30%. This is the 2nd spacewalk of 2023 at the ISS. Mann and Wakata previously started this modification on January 20 but ran into a few issues that prevented them from finishing the job.Read the original article on Business Insider.....»»

Ukrainian Defense Minister Oleksii Reznikov said Russia could opt for the "symbolism" of renewing its offensive a year to the day it began. Two Russian T-90M tanks at an undisclosed location in Ukraine. Image released by Russian Defence Ministry on January 23, 2023.Russian Defense Ministry Press Service via AP Photo Ukraine's defense minister said that Russia could send 500,000 troops in a renewed assault. He said Russia's taste for "symbolism" could see it happening on the anniversary of the invasion. Oleksii Reznikov urged allies to send more weapons and the means to defend against air attacks. Ukraine's defense minister predicted that Russia's anticipated massive new offensive could begin on February 24, the one-year anniversary of the conflict.Oleksii Reznikov said on Wednesday that Kyiv believes that as many as half a million Russians are preparing to pour into Ukraine as part of the assault, while urging Ukraine's allies to continue arming its troops. "We think that, given they live in symbolism, they are going to try to attempt something around February 24," Reznikov told French TV station BFMTV.After months of stalemate in the east and the south of the country, Ukraine has been bracing over the winter for a renewed ground invasion.February 24 is the date on which Russian tanks rolled en masse over the Ukrainian border in 2022. February 23, meanwhile, marks Russia's Defender of the Fatherland day, a holiday commemorating soldiers. The propagandistic overtones of an "anniversary" mobilization may be sorely needed by President Vladimir Putin, whose officers initially believed they could take all of Ukraine within a couple of weeks. Russia has announced it has amassed 300,000 troops, Reznikov said. But, he added, Kyiv believes the new offensive could be powered by more like 500,000 men."When we see the troops at the borders, according to our assessments it's much more," he said. Ukraine says it is readying its counter-offensive.Ukrainian Minister of Defence Oleksii Reznikov attends a press conference in Kyiv, Ukraine, on November 7, 2022.Sergei Supinsky/AFP via Getty ImagesIt is not Reznikov's first comments about a potential new Russian assault.Predicting a 2023 advance last year, Reznikov scorned Russia's "meat grinder tactics" that, he said, pitted vast numbers of poorly-trained men against Ukraine's smaller but nimbler forces. One Ukrainian soldier near Bakhmut — now one of the fiercest focal points of the war, in eastern Ukraine — recently spoke of those tactics as applied by the Wagner Group, the mercenary army fighting on President Vladimir Putin's behalf.Likening the scene to a zombie movie, the soldier, identified only as Andriy, told CNN of a relentless, "uninterrupted" 10-hour assault.Reznikov made the comments while in France to buy MB-200 air defense radars for Ukraine, according to the BBC.Urging allies to help Ukraine to maintain the initiative, he echoed Kyiv officials who have, according to The New York Times, redoubled efforts to persuade NATO countries to send fighter jets. Read the original article on Business Insider.....»»

A director of engineering at Google said she felt like she was "one kid's tantrum away from losing it," when she found she had been laid off. Google headquarters is seen in Mountain View, California, United States on September 26, 2022.Tayfun Coskun/Anadolu Agency via Getty Images An engineering director at Google found out she was laid off as she prepared to take her kids to school.  Sivan Hermon felt like she was "one kid's tantrum away from losing it," she wrote in a Medium Post.  The thought of no longer being at Google after nine years was "too painful," she added. An engineering director at Google said she took her kids to school right after finding out she was one of the 12,000 people who had been laid off by the tech giant in an emotive post on Medium.Sivan Hermon, a director of engineering at Google for just over nine years, woke up to her alarm at 7:10 a.m. on January 20 when she came across an email from CEO Sundar Pichai explaining that the company was making mass layoffs, she wrote in a Medium post.She then discovered another email titled "Notice Regarding Your Employment." "My heart sank as I read the words, 'We are reducing our workforce and are very sorry to tell you that your role is impacted and we no longer have a job for you at Google,'" she wrote. "My heart started racing, I could hear it coming out of my chest." She said: "I acted as I've seen myself act on the rare occasion of a car accident: exit the situation as fast as possible and return to normalcy. I left my bedroom and went to shuffle my kids through our morning routine, but I wasn't myself. "I felt like I was in a fog. I pretended to be calm, but I felt I was one kid's tantrum away from losing it that morning."According to LinkedIn, Hermon joined Google in 2014, and worked in various roles in software engineering, becoming a director of engineering in 2021.Pichai sent a memo to staff at around 5:30 a.m. ET on January 20 informing them that the company was slashing roughly 6% of its global workforce across various functions and divisions. "Over the past two years we've seen periods of dramatic growth," Pichai wrote in the memo. "To match and fuel that growth, we hired for a different economic reality than the one we face today."Googlers have expressed shock about the abrupt and impersonal nature of the layoffs with some being let go after years at the company, and others only finding out after they were unable to badge into the office. Hermon wrote in her post that she had always thought Google was "too fat" and that she wished "we were one of these companies who let go of the lower 5% performers on a yearly basis." Now that she has been laid off "the thought of having to say the words 'I was fired' or 'I'm no longer with Google' was too painful." Read the original article on Business Insider.....»»

Burry, known for his pessimistic predictions, quit Elon Musk's social-media platform a day after tweeting a single word: "Sell." Michael Burry.Andrew Toth/Getty Images Michael Burry deleted his Twitter profile a day after tweeting a single word: "Sell." The "Big Short" investor has quit Twitter several times before, often after his tweets went viral.  Burry has predicted an inflation resurgence, a stock-market crash, and a multiyear recession. Michael Burry certainly has a flair for the dramatic. The fund manager of "The Big Short" fame deleted his Twitter profile on Wednesday, a day after issuing an ominous, one-word message to investors: "Sell.""This account doesn't exist" is now the message displayed on Burry's account page. The investor has quit Elon Musk's social-media platform multiple times over the past two years, typically when his tweeting attracts significant media coverage and public attention. For example, Burry took down his Twitter profile in November after his criticism of Musk led the Tesla CEO to call him a "broken clock." He also left the website in June 2021, shortly after diagnosing the "greatest speculative bubble of all time in all things," and warning buyers of meme stocks and cryptocurrencies they were headed for the "mother of all crashes."In addition to occasionally departing Twitter, Burry habitually deletes his tweets. His aim is to stop bots and promoters of meme stocks and cryptocurrencies from replying and reaching his 1.3 million Twitter followers, he explained in October 2021.Investors may interpret the Scion Asset Management's latest takedown as a bad sign, especially after his tweet about selling. Burry has previously warned the benchmark S&P 500 index could plunge by more than 50% from its current level to around 1,900 points. He's also cautioned inflation might rear its head again once the Federal Reserve stops hiking interest rates and begins cutting them, and suggested the US economy could suffer a multiyear recession.The contrarian investor hasn't been afraid to back up his bearish predictions. He bet against high-flying Tesla stock and Cathie Wood's Ark Innovation fund in 2021, and virtually liquidated his US stock portfolio in the second quarter of last year.Read more: A real-estate investor who's acquired over 50 properties with the BRRRR method shares his best advice for using the strategy in today's market — especially as home prices fall and rents drop around the USRead the original article on Business Insider.....»»

A sustained decline in the MOVE index of future bond volatility is supporting the stock market's optimism over falling interest-rate uncertainty. Stock tradersDrew Angerer/Getty Images The stock market has been highly sensitive to shifts in interest-rate volatility since the Fed started tightening policy last March. Falling bond-market volatility is now underpinning the rebounding investor confidence in equities. The MOVE Index of US bond swings has slid to lows last seen in March 2022, when the Fed started raising rates. After a terrible 2022, the stock market has waltzed into this year in a surprisingly merry mood, seemingly downplaying the gloom-and-doom economic predictions from Wall Street.And it's all down to one thing: the rising conviction that the worst is over on the uncertainty over inflation and interest rates.A gauge of future volatility in the US bond market has become the catch-all metric for traders across asset classes to track interest-rate turbulence - and it is now showing an increasingly reassuring trend, underpinning the optimism in the stock market.The ICE BofA MOVE Index is extending a sharp slide that started in October, and has now fallen to lows last seen in March - when the Federal Reserve started its most aggressive interest-rate increases since the 1980s. It continued to fall after the central bank's latest communique on Wednesday, where policymakers notably refrained from pushing back against the upbeat trend in risk assets.Stocks get a boost from falling bond volatilityThe chart below shows how the trajectory of the S&P 500 index of US stocks has been an almost perfect inverse image of that of the MOVE index over the past year - up to this week's moves - illustrating the stock market's heightened sensitivity to the interest-rate outlook.The rally in stocks has been underpinned by a sustained slide in bond-market volatility.TradingViewThe S&P index is up almost 8% in 2023, after rising 5.9% last month in the best start to a year since 2019 as cooling inflation stoked expectations that an end is in sight to rate increases in the US.Chairman Jerome Powell didn't fight back in his speech Wednesday against market expectations that the Fed will soften its rate policy later this year, according to billionaire investor Jeffrey Gundlach."There was just something about his demeanor. He just seems like he has confidence, he feels comfortable in where he's gotten to, and I think everybody kind of sensed that.  And he obviously did not fight back against market pricing," he said in a CNBC interview. The Fed raised benchmark borrowing costs by 25 basis points Wednesday in its latest move, the smallest increase since last March. While the central bank has boosted rates by a staggering 450 basis points over the past 10 months, it has slowed the pace of policy tightening against the backdrop of easing price pressures.Annual inflation in the US declined to 6.5% in December, the least in over a year, from a 40-year high of 9.1% in mid-2022.US inflation has been steadily falling from the 40-year highs reached last summer.KoyfinTrading trends in the US stock market are also reflecting increasingly positive market behavior.The 'golden cross' is signaling bullish stock-market behaviorS&P 500 charts are now witnessing an uncommon pattern known as the "golden cross" - where a short-term moving average crosses above a long-term one - that's widely considered a bullish indicator.That's despite many financial institutions and market experts warning in recent months of an impending recession and more equity market pain. Some of the top US banks including Bank of America and Morgan Stanley have predicted that stocks could plunge more than 20% this year.S&P 500 chart is flashing a rare `golden cross' pattern.TradingViewUS stocks have seen sustained rallies following past instances of the golden cross pattern - notably in 2020, 2019 and 2016.The steadily falling level of US inflation, still-firm jobs market data, China's move to reopen its economy and signs of easing energy market stress have all contributed significantly to the improvement in investor sentiment in recent weeks.Read the original article on Business Insider.....»»

The second-gen Apple Watch SE comes with all smartwatch features you'd want, but it lacks an always-on display and some advanced health sensors. When you buy through our links, Insider may earn an affiliate commission. Learn more.The second-gen Apple Watch SE would have been perfect if only it had an always-on display.Antonio Villas-Boas The 2022 Apple Watch SE is the least expensive smartwatch in Apple's lineup.  It shares a lot of the same features as the Series 8, but makes some compromises.  For some, the lack of an always-on display may be the ultimate deal-breaker. Once upon a time, the Series 3 was the cheapest smartwatch in Apple's lineup. But with the Series 3 discontinued, that honor now belongs to the second-generation Apple Watch SE. The 2022 Apple Watch SE, which starts at $250, raises the bar of what to expect from an entry-level smartwatch. It uses the same processor found in the top-of-the-line Series 8 and Ultra models, and offers just enough smart features to satisfy most people.As the low-cost option, the SE lacks some fancy features, like an always-on display and some of the next-gen health sensors found on the Series 8. But if you're looking for a smartwatch to handle the basics and streamline your day-to-day, the SE will certainly meet, if not beat, your expectations. What worksSame processor as Series 8 and UltraExcellent value as a entry-level smartwatchImpressive battery life What needs workNo always-on display Lacks advanced health sensors Smaller display than Series 8The Apple Watch SE looks just as good and works just as smoothly as the Series 8The Apple Watch SE (left) compared to the Apple Watch Series 8.Antonio Villas-Boas/InsiderYou'd be forgiven to think that Apple sacrificed a premium design for its most affordable wearable, but the SE proves otherwise. By all accounts, the SE's aluminum casing, curved glass, and Digital Crown look and feel almost identical to the Series 8. Just like its predecessor, the second-gen SE is available in 40 or 44-millimeter case sizes, compared to the 41 or 45-millimeter Series 8. Apart from a larger display on the Series 8, the other difference is the SE has a plastic caseback rather than ceramic found on the Series 8. The caseback of the SE is made from "nylon composite," or plastic.Antonio Villas-Boas/InsiderAbout the display: The SE has a thicker display bezel than the Series 8. A thinner border means the display is closer to the edges of the case, which makes the screen look bigger and sleeker. However, the difference is slight and didn't bother me at all when switching back and forth between the SE and Series 8. The most impressive thing about the second-gen SE is the fact that it runs on the same S8 processor as the Series 8 and the $800 Ultra. That's to say the SE runs as smoothly and quickly as Apple's most expensive Apple Watch to date. It also means the second-gen SE will last as many years as Apple's more expensive watches, and it'll stay relevant thanks to watchOS and security updates. While the SE comes standard with your choice of a braided or silicone rubber watch band, it's worth noting that most Apple watch bands are compatible across models. So if it's an elevated look you're after, you could upgrade to a leather or stainless steel strap, making the SE an even more compelling sell. The SE's biggest compromise is the lack of an always-on displayThe second-gen Apple Watch SE doesn't have an always-on display.Antonio Villas-Boas/InsiderWhile the Apple Watch has had an always-on display since the Series 5, the SE omits this feature as a tradeoff for a lower price. It's unsurprising, as an always-on display is considered a premium feature in Apple devices. To wake the SE display, you'd need to slightly turn or raise your wrist to your eyes, or tap on the screen. If you're trading up from the Series 4 or older, or the first-gen SE, this may not seem like a big deal. In fact, the SE's display is more responsive than those models.But having used an Apple Watch with an always-on display for several years, I think It's a frustrating compromise, even for a budget model. Always-on displays offer plenty of benefits, especially when using an Apple Watch for fitness tracking, and Apple should make it standard.For example, if you're in the middle of a workout and want to quickly look at your heart rate, time elapsed, or some other metric, an always-on display allows for that without the need to bring your watch into view and your eyes away from what you're doing.As a consolation, the SE's display doesn't eat up as much battery life as the Series 8. Plus, there are Apple Watch users who won't be bothered by not having an always-on display, so it comes down to personal preference. The SE's health tracking capabilities aren't the most advanced, but they're good enoughThe second-gen Apple Watch SE doesn't include advanced health sensors for blood-oxygen or ECG readings.Antonio Villas-Boas/InsiderThe new SE sacrifices some health features found on the premium models, but it's still adequate. While the SE uses Apple's second-gen optical heart sensor compared to the third-gen variant in the Series 8, it's just as good at tracking workouts. The SE also includes the same sleep tracking features. It has the same swimproof 50m water resistance as the Series 8 for water-based workouts, but it doesn't have an officially rated dust resistance, so it's not an ideal option if you often find yourself in duty environments.Aside from that, the second-gen SE has Apple's core health tracking sensors, including high-and-low heart rate and irregular rhythm notifications, which have reportedly been attributed to helping certain users to become aware of a condition they didn't know they had.However, the second-gen SE is missing Apple's advanced health sensors, including blood-oxygen or electrocardiogram (ECG) sensors, which became available starting with the Series 6. The SE also lacks the Series 8's new wrist-temperature sensors for better ovulation and sleep tracking. Of course, whether these health features are worth the extra cash is up to you. The SE has the same safety features as the Series 8 and UltraThe Apple Watch SE includes Crash Detection, just like the Series 8 and the Ultra.Apple/Background by InsiderWhile the second-gen SE might not detect as many health factors as the Series 8, it looks out for your safety in the same capacity. Like the Series 8 and the Ultra, the second-gen SE adds Apple's new Crash Detection to its comprehensive repertoire of safety features, which also include Emergency SOS, International emergency calling, and Fall Detection. Crash Detection can detect if you've been in a car accident and automatically contacts emergency services if you don't interact with the alert within 10 seconds. It's already been credited for helping someone in a crash, if it didn't save that person's life, and it's good that Apple included it with its more affordable Apple Watch model.Impressive battery life, plus the new Lower Power mode is a welcomed boostThe Apple Watch SE has better battery life than the Series 8.Antonio Villas-Boas/InsiderDespite Apple's claim that the second-gen SE has the same 18-hour battery life as the Series 8, the SE lasts longer on a single charge in normal casual use. That's likely thanks to its display that turns off and missing health sensors. Whether better battery life is a worthwhile trade-off for an always-on display or extra health sensing is up to you. I can safely say that the Series 8's battery life never bothered me.The new SE also includes Apple's new Low Power mode, which boosts the battery life from 18 hours to 36. It sounds appealing at first glance, but a closer look shows that it's not a feature you'd want to use on a regular basis.Low Power mode sacrifices a lot of the Apple Watch's utility, like delayed notification and disabling incoming calls and notifications if your iPhone isn't nearby. Widget updates like weather or heart are less frequent, too. As for charging, the 2nd-gen SE doesn't support fast charging for Apple Watch, which was first introduced with the Series 7.Apple Watch SE vs. Series 8 vs. Ultra: At a glance 2022 Apple Watch SEApple Watch Series 8Apple Watch UltraStarting price$250$400$800ProcessorS8S8S8Always-on displayNoYesYesCase size options40mm or 44mm case41mm or 45mm case49mm caseHealth featuresHigh and low heart rate notifications, and irregular rhythm notificationHigh and low heart rate notifications, irregular rhythm notification, and atrial fibrillation notification (ECG)High and low heart rate notifications, irregular rhythm notification, and atrial fibrillation notification (ECG)Fitness featuresSecond-generation optical heart sensorTemperature sensor, blood oxygen sensor,  ECG, and third-generation optical heart sensorTemperature sensor, blood oxygen sensor,  ECG, and third-generation optical heart sensorSafety featuresInternational emergency calling, Emergency SOS, Crash Detection, and Fall DetectionInternational emergency calling, Emergency SOS, Crash Detection, and Fall DetectionInternational emergency calling, Emergency SOS, Crash Detection, and Fall DetectionShould you buy it?If you're looking to buy your first smartwatch, the SE is a great choice.Antonio Villas-Boas/InsiderThe pros that come with the second-gen Apple Watch SE overwhelmingly outnumber the cons, and it comes easily recommended for people looking to spend under $300 on an Apple Watch.However, if your budget allows for the Series 8, get the Series 8 for the always-on display, if not the extra health sensors. The always-on display removes a potentially major point of frustration for a device that you use often and daily for several years.Read the original article on Business Insider.....»»