: An issue with your tissue? ‘Forever chemicals’ are in toilet paper, too.

PFAS may be impossible to avoid, but you can reduce the amount you inhale or ingest through regular vacuuming, cooking, and a few other easy steps. A child drinks bottled water in Reynosa, Mexico.Daniel Becerril/Reuters Hazardous "forever chemicals" called PFAS are contaminating drinking water, food, and air. It may be impossible to completely avoid PFAS, but there are a few simple ways to reduce your exposure. Eating at home, ditching nonstick pans and unnecessary carpets, and filtering your water can help. Hazardous, long-lasting "forever chemicals" are all over our day-to-day environments. The US Environmental Protection Agency just took its first step to remove them from tap water, but that won't eliminate them from your home.Per- and polyfluoroalkyl substances, or PFAS, is a class of thousands of man-made substances that are common in everyday objects. Peer-reviewed studies have linked them to some cancers, decreased fertility, thyroid disease, and developmental delays, among other health issues. That's bad news since PFAS last for decades without breaking down, earning them the "forever chemicals" nickname. Researchers have found them in drinking water, household dust, rainwater and soil across the planet, in the oceans, at both poles, and drifting through the atmosphere.Ian Cousins, who studies PFAS at Stockholm University, fears it's impossible to avoid the chemicals."I don't bother," Cousins told Insider, adding, "It's almost mission impossible. You can't really do it."Even though you can't completely dodge PFAS, there are a few easy ways to reduce exposure in your daily life.Eat at home, with minimal grease-resistant packagingA family eats dinner at their home in Calumet Park, Illinois.Shannon Stapleton/ReutersPFAS were developed in the 1940s to resist heat, grease, stains, and water. That means they've ended up in a lot of food packaging. That includes pizza boxes, microwave popcorn bags, some wrappers, and grease-resistant paper.Restaurants and fast-food chains may use such packaging more than grocery stores do. A 2019 study found that people had lower PFAS levels in their blood after eating at home, and higher levels after eating fast food or at restaurants.Still, Cousins said, "All food is contaminated with PFAS."Be careful with nonstick pansRed onion slices cooking in a black pan.Erin McDowell/InsiderThe coating used in nonstick cookware usually contains PFAS, and they can easily leach into your food at high heat and once the coating gets scratched.The Washington Department of Ecology advises against heating nonstick cookware above 400 degrees Fahrenheit, and recommends throwing it out once the nonstick coating scratches. Cast-iron pans are a safe alternative.Cousins, however, said "Scratching on pans is not a problem for exposure." He added that there are low levels of harmful PFAS in Teflon coating, but the worst of it was phased out in the early 2000s.Ditch your stain-resistant carpet and fabricsWater-resistant and stain-resistant treatments, common on household items like carpets and clothing like raincoats, also contain PFAS. Some researchers don't think the chemicals can easily absorb into your body through your skin, but those fabrics shed fibers that can travel through the house as dust, eventually getting ingested or inhaled."You can find things that don't have PFAS, and then that in turn helps those companies that innovated," Elsie Sunderland, who leads environmental contaminants research at Harvard, told Insider.Vacuum, dust, and open the windowsA property manager opens the window of a vacant house in the town Kamakura outside Tokyo.Thomas Peter/ReutersPFAS accumulate in dust, which lingers in the air and allows humans to breathe the chemicals into their lungs. By dusting and vacuuming regularly, along with opening windows to allow for airflow and ventilation, you can keep dust levels low in your home and reduce the amount of PFAS you swallow."Dust can be a big [PFAS] source in the indoor environment," Sunderland said.In fact, she added, "A lot of different contaminants absorb to dust. So if you wipe surfaces regularly and you keep areas clean, then you actually minimize exposures."Test and maybe treat your drinking waterYou can test your water for PFAS through a laboratory certified by your state. If the water exceeds EPA or state guidelines, you may want to consider doing something about it, especially if you have children.A person fills a bottle with tap water.Catherine Falls Commercial/Getty ImagesEven at very low levels, exposure to two of the most common PFAS — called PFOA and PFOS — has been linked to decreased vaccine response in children.That research prompted the EPA to revise its drinking-water guidelines last year, decreasing the safe levels of those substances by a factor of 17,000. In August, the agency issued a proposal to classify those two PFAS as hazardous substances.A few types of water filters can diminish PFAS levels, though they may not completely remove the chemicals from the water. State environmental departments recommend filtration systems that use reverse osmosis for tap water. Those are usually installed under the sink, and they can cost several hundred dollars.The second-best option is filter systems that use activated carbon (aka charcoal), which can be installed on faucets house-wide or used in a tabletop pitcher, but a 2020 study found mixed results from those systems.If you get your drinking water from a well, the EPA recommends testing it regularly and contacting your state environmental or health agency for certified labs and safety standards.Check before you buy cosmeticsA woman applies makeup to her friend in Nashville, Tennessee.Harrison McClary/ReutersLast year, a group of researchers published the results of testing 231 cosmetic products in the US and Canada for PFAS. More than half the products contained indicators of the chemicals.The Environmental Working Group (EWG) has a public, searchable database of cosmetics and personal-care products, highlighting ingredients with potential risks to human health, such as PFAS like Teflon. They also maintain a map where you can check if you live near a PFAS contamination site.The Green Science Policy Institute also keeps a list of PFAS-free products, including a guide to cosmetics.Ultimately, Cousins said, people don't need to be "super worried" about low-level exposure, since there's no strong evidence of major health impacts across the population. In the US, manufacturers have phased out the most harmful known PFAS — PFOA and PFOS — since the early 2000s. Over the last 20 years, levels of those substances in human blood have dropped, according to the CDC.Still, reducing PFAS use in consumer products could keep the problem from getting worse in the future. "I think we should use this to get a bit angry about what's happened and try and make change, so that we don't keep doing this," Cousins said. "Maybe we have to use [PFAS] in some cases, but only when they're absolutely essential. And then we should also try to innovate, to try and replace them in the longer term."This story has been updated in light of the US EPA's proposal to limit six PFAS in drinking water. It was previously updated to reflect disagreements in the scientific community about the degree of PFAS exposure from Teflon. It was originally published on September 17, 2022.Read the original article on Business Insider.....»»

Dangerous substances commonly referred to as "forever chemicals" were found in samples of artificial turf used in the Philadelphia Phillies' old stadium. Veterans Stadium, where the turf used in the stadium may have contained dangerous "forever chemicals" for decades.MLB via Getty Images "Forever chemicals" were found in turf that was used in the Philadelphia Phillies' old stadium. The chemicals were revealed as part of an investigation by the Philadelphia Inquirer. The Inquirer was researching whether there was a link between the turf and ex-Phillies dying of brain cancer. An investigation into the deaths of six former Philadelphia Phillies players from the same type of brain cancer has found that the artificial turf where they played for years contains dangerous compounds commonly referred to as "forever chemicals."Following former Phillies relief pitcher David West's death last year, reporters from the Philadelphia Inquirer purchased pieces of the AstroTurf available for sale online to have them tested for chemicals. The artificial turf was used for years and replaced several times at Veterans Stadium, where both the Philadelphia Eagles and Phillies played from 1971 to 2003.  The Inquirer hired a lab to test for 70 different per- and polyfluoroalkyl substances, which are commonly referred to as PFAS or "forever chemicals." The Centers for Disease Control and Prevention considers them dangerous because they do not break down easily in the environment and can contaminate drinking water.The tests performed by Eurofins Lancaster Laboratories Environmental Testing found 16 PFAS in the turf samples, including perfluorooctanoic acid (PFOA) and perfluorooctane sulfonic acid (PFOS), according to the Inquirer. PFOA and PFOS are two of the most-studied PFAS, as they have been produced and used the most.The American Cancer Society says studies in animals and humans have linked the chemicals to certain types of cancer, but further research is required to clarify a definitive link.The labs that performed the tests told the Inquirer that the levels present in the turf would be concerning if they were found in drinking water, but less is known about the effects of repeated skin contact with the chemicals.The turf used in the stadium, where recorded temperatures were regularly over 100 degrees during summer Phillies games, also could have released chemical vapors that were inhaled by the players, according to the Inquirer.The Phillies responded to the report, saying several brain cancer experts have told the organization there is no proven link between the turf and the deaths of the six players, who all died before the age of 60.However, the Inquirer reported that other experts cited studies finding PFAS in brains — one by Chinese researchers that found the chemicals in brain tumor tissue, and another by Italian scientists that found PFAS in the brains of people who drank water contaminated with the chemicals. The Phillies played their last game at the stadium in September 2003 and it was demolished in March 2004. The six former Phillies — Tug McGraw, Darren Daulton, John Vukovich, John Oates, Ken Brett, and David West — all died of glioblastoma, an aggressive form of brain cancer. The tumor is most common among those in their demographic: white men between the ages of 40 and 70, a neurologist told the Inquirer.But the rate at which it was found in the over 500 Phillies who played on the turf for years is about three times higher than the average rate, according to the Inquirer.Read the original article on Business Insider.....»»

Protests Break Out As Chinese Cities Drown Under $10 Trillion In Debt, Fail To Make Payments The last time we checked in on China's debt, the IIF calculated that it was just shy of 300% its GDP, a record high, and more than double where it was a decade ago. So to say that China has a debt problem isn't exactly a surprise. What may surprise, however, is that as China has been busy trying to sweep all this massive, growth-crushing debt under the rug (yes, there is a reason why the Politburo's latest GDP target was a disappoint 5% and it begins with "d" and ends with "ebt"), it is starting to run out of hiding spaces and as the WSJ reports overnight, China's economy is "being weighed down by the colossal debts of its local governments, which swelled during the pandemic and are starting to come to a head" and nowhere is this more visible than at the city level. Xi Jinping’s now defunct zero-Covid campaign buried cities under billions of dollars in unplanned expenditures for mass testing and lockdowns. At the same time, Beijing's crackdown on excessive property-market leverage led to a sharp drop in land sales, depriving cities of one of their biggest revenue sources. As a result, the WSJ notes that according to S&P Global calculations, two-thirds of local governments are now in danger of breaching unofficial debt thresholds set by Beijing to signify severe funding stress, with their outstanding debt exceeding 120% of income last year. About a third of China’s major cities are struggling to pay just the interest on debt they owe, according to a survey by Rhodium Group, a New York-based research firm. In one extreme case, in Lanzhou, the capital city of Gansu province, interest payments were the equivalent of 74% of fiscal revenue in 2021. This is rapidly approaching the infamous "Minsky Moment" now that debt has moved beyond "mere" Ponzi financing levels. Making matters worse, big chunks of debt are coming due soon: according to research by Lianhe Ratings Global, a subsidiary of a large domestic rating agency, about 84% of the $84.2 billion in offshore debt owed by local government financing vehicles will mature between this year and 2025. Still, as the WSJ, the main concern isn’t that cities will default and trigger a financial crisis - although that can certainly happen assuming Beijing let's them fail, which is unlikely - it is that cities will have to keep cutting spending, delay investments or take other actions to keep creditors at bay, impairing growth for years. In Zhengzhou, home to a Foxconn assembly site for Apple’s iPhones, bus drivers say their salaries were cut in 2021 and haven’t been restored. Street sweepers report to work even though some say they haven’t been paid in months. “Our salary isn’t high. Why does the country even owe us this kind of money?” said Xu Aiqiang, 67, as she swept a park on the west side of Zhengzhou. She said her company, a city contractor, hasn’t paid her monthly salary of around $320 for seven months. “Even if they aren’t paying me, I’m still keeping my areas clean, so I can see it for myself.” At the same time, teachers in the southern megacity of Shenzhen are complaining on social media about sharp cuts in bonuses, an important pay component. In January, a heating company in the rust belt city of Hegang in northeastern China told residents to prepare for a cutoff in heat after the company failed to get subsidies from the local government. As a result of these spending cuts, protests have broken out in recent weeks in cities such as Wuhan (best known for being the site of the infamous Covid lab leak), Dalian and Guangzhou over public healthcare system overhauls that have included cuts in medical benefits due in part to strained government finances. In response to this growing social unrest, on Sunday, at annual meetings of China’s legislature in Beijing, Chinese policy makers offered only modest support for local governments, signaling they want to promote fiscal discipline. While fiscal transfers from central authorities to local governments, which Beijing provides annually, are set to increase to around $1.5 trillion this year, the 3.6% increase in 2023 is a far cry from last year’s 18% increase. Municipalities will be allowed to issue around $550 billion worth of local government special-purpose bonds this year, down from last year’s actual issuance of $580 billion. A few days earlier, Chinese Finance Minister Liu Kun played down financial strains faced by local officials, saying on Wednesday that the situation remained mostly stable last year and is expected to further improve this year as the economy recovers. The good news is that Beijing still has plenty of fiscal room to intervene in individual cases if necessary to prevent major defaults, according to economists. Local governments can also sell off assets, if they can find buyers. However, the central government’s balance sheet isn’t strong enough to bail out every contingent liability in China, wrote Nicholas Borst, director of China research at Seafarer Capital Partners, a San Francisco-based investment firm, in a research paper on local debt released this month. “Moreover, a one-off series of bailouts would increase moral hazards and not change the underlying dynamics that led to the problem in the first place,” he wrote, encapsulating the problem facing not just China but every western central bank. That means local residents—especially civil servants—may see more salary cuts and reduced services, as well as fewer infrastructure investments to power growth and employment.  Similar to Europe's period of austerity, “the real cost of the debt won’t be a financial crisis but it’ll lead to many years of struggling to allocate the cost of that debt,” said Michael Pettis, a finance professor at Peking University. Officially, China’s 31 provincial governments owe around $5.1 trillion, including bonds held by local and foreign investors. However, those figures don’t include a variety of off-balance-sheet debts typically raised through so-called local government financing vehicles, which have proliferated in recent years to fund infrastructure and other spending obligations. The debts from those vehicles are expected to reach nearly $10 trillion this year, according to the International Monetary Fund. As the WSJ puts it in context, the debt from those vehicles is more than the combined government debt of Germany, France and Italy as of the third quarter of 2022. Interest on the debts crowds out other spending. The Rhodium Group research found that interest costs accounted for at least a fifth of fiscal resources in 25 Chinese cities in 2021. Anything over 10% — the case in more than 100 cities—leads to “meaningful constraints,” Rhodium said.      As discussed before, local governments’ debt problems have been building since the global financial crisis. Many became addicted to launching projects—which juiced growth—and selling land and borrowing more to pay for all of it. In addition, China’s local governments must shoulder most of the costs of services such as public education and healthcare. Beijing restricts how they can raise money, compelling them to send most of what they collect in taxes to the central government, while limiting what they can borrow. Zhengzhou, with nearly 13 million residents, has healthier finances than many other cities. Its streets are vibrant, with residents crowding eateries. Yet in the past three years, Zhengzhou’s fiscal revenue dropped by 14% on average each year while total debt grew by 14% annually. Its debt-to-fiscal income ratio rose to 178% in 2022, from 75% in 2019. Another street sweeper told The Wall Street Journal he hasn’t been paid by his company, also a city contractor, since he joined nearly two months ago. Another two months’ worth of salary remains unpaid from his last job, at a local sanitation department. He said he was told the district government hasn’t sent his company the money to pay his salary, equivalent to around $370 a month. “Sooner or later they’ll have to pay me,” he said as he kept picking up discarded tissue paper and dried leaves. He relies on his son, a truck driver, to assist him financially, he said. In late February, a bus company in Shangqiu, a city about two hours’ drive from Zhengzhou with around 7 million residents, said it would suspend bus service starting March 1 due to a “lack of sufficient fiscal support” along with other factors. The decision was retracted after Shangqiu’s government apologized for “negative social impact.” Similar scenarios have played out in at least three other cities, according to local media.  While some analysts believe the odds of a financial system meltdown are low, stress could spread if more local borrowers struggle to repay loans on time. In December, Zunyi Road and Bridge Engineering Construction Group, a local government financing vehicle based in Guizhou, one of China’s most indebted provinces, struck a deal with banks to get another 20 years to repay loans worth more than $2 billion. The deal raised fears that other banks could have to bear restructuring costs. At the end of the day, the concern is that Beijing is unwilling to make changes that could put local government finances on a more stable footing, such as implementing a property tax to raise more funds, because doing so would be politically unpopular and could undermine central authorities’ control over localities. It would also lead to even more social upheaval and protests: the one thing Beijing is truly scared of.  Tyler Durden Tue, 03/07/2023 - 17:45.....»»

Dollar General stores in Virginia and North Carolina were forced to temporarily close because store aisles were clogged with merchandise. A Dollar General store in Minnesota, where merchandise was stored on the sidewalk outside of the store this winter.Insider source Some Dollar General stores have temporarily closed because they are overcrowded with goods. Photos show items like bottled water and dog food clogging aisles, and boxes packing back rooms. Local fire marshals have ordered the stores to close until they can clear up the clutter. Some Dollar General stores are so full of stuff that local fire marshals are ordering the stores to close until they can cut down on the clutter.At some locations, aisles are clogged with plastic tubs and metal-framed dollies, called "rolltainers," that hold goods still wrapped in their shipping containers, according to photos shared with Insider. Typically, these items are stored in back rooms until employees can unpack them. But some Dollar General stores appear to be unloading truck deliveries directly onto sales floors. In some cases, the merchandise has blocked aisles, exits, and access to fire extinguishers, according to fire safety officials.Insider counted at least six Dollar General stores around the US that have closed temporarily within the last few months after local officials said they violated fire safety codes. Insider identified the stores using local media reports, interviews with local officials, and public records of Dollar General store inspections.A Dollar General spokesperson told Insider that it "is committed to providing a safe work environment for its associates and shopping experience for its customers.""We regularly review and refine our safety programs, and reinforce them through training, ongoing communication, recognition and accountability," the spokesperson said. "When we learn of situations where we have failed to live up to this commitment, we work to timely address the issue and ensure that the company's expectations regarding safety are clearly communicated, understood and implemented."Dollar General stores with too much inventory sitting in the aisles can violate fire safety codesIn Pittsylvania County, located in Southern Virginia, county officials ordered two Dollar General stores to close temporarily last fall."When they receive a shipment of stock, their back room isn't big enough for that stock," said Christopher Key, public safety director for Pittsylvania County told Insider.Inspections at the stores in Gretna and Mount Hermon, Virginia found aisles so cluttered that they lacked at least 36 inches of space for customers and employees to get through, the minimum clearance required by law, Key said. Inventory was also blocking exits and was too close to electrical panels, he said.Both stores reopened within a few days, Key said. But the county still hears from customers about how packed Dollar General stores in Pittsylvania are, he added."The one in Gretna, we receive complaints week after week after week," Key said.In neighboring North Carolina, officials in Watauga County ordered two Dollar General stores to close for similar reasons, the Watauga Democrat reported on February 14.At a Dollar General in Cadott, Wisconsin, about 110 miles East of Minneapolis, Minnesota, the local fire department found "excessive amounts of overstock items in the aisles and in their shipping/receiving area," the Cadott Police Department posted on Facebook in August. The store reopened later that month.One truck driver who delivers merchandise to Dollar General stores in the Midwest told Insider that they sometimes drive a full trailer of merchandise hundreds of miles to a store only to find out that it's been closed by local fire safety officials. The driver asked not to be identified by name for fear of retaliation at work.Rolltainers full of boxes sit in the freezer aisle of a Dollar General in the Midwest.Insider sourceIn those cases, the driver contacts the store's district manager, who lets them into the store to unload the merchandise. But that doesn't always happen, the driver said. "Sometimes, the manager will tell us to leave it outside, or we'll bring it back to the distribution center," the driver said.During a recent delivery, the driver said they arrived to a Dollar General store in Maple Lake, Minnesota and found it closed. Rolltainers of candy, toilet paper, and other merchandise were lined up outside of the building. A sign on the front door said that the store was temporarily closed but would "reopen soon," according to a photo viewed by insider.Dollar General has faced fines over excess inventoryDollar General's stores have been the subject of criticism and investigation for years.OSHA has fined the Goodlettsville, Tennessee-based retailer $15 million for what the agency said were "numerous willful, repeat and serious workplace safety violations related to unsafe conditions in more than 180 inspections nationwide" since 2017.One recent inspection, conducted at a Dollar General store in Mount Pleasant, Texas, found blocked exits "that exposed employees to fire hazards," OSHA said.The Midwest truck driver estimated that "between 60% and 80%" of the stores they visit are overcrowded with merchandise, especially consumable dry goods like pet food and bottled water. The back room of a Dollar General store in Iowa.Insider sourceSome Dollar General employees have even posted to TikTok about the problem. One video, posted in November by a user identifying himself as a worker at an Indiana store, shows plastic totes and rolltainers cluttering the sales floor."The whole aisle is full of totes," he says in the video. "And at each end cap, we have a rolltainer." @travisbennett767 #dollargeneral #putinaticket #help ♬ original sound - travisbennett767  Do you work or shop at a Dollar General that's cluttered and/or had to close? Reach out to Alex Bitter at abitter@insider.com or via encrypted messaging app Signal at (808) 854-4501.Read the original article on Business Insider.....»»

Amazon just launched a new subscription to get generic prescription medications for $5 a month with no delivery fees. Amazon Pharmacy's new RxPass is a subscription to get generic prescription medications for $5 a month with no delivery fees.Amazon Pharmacy, Yeji Jesse Lee/Insider Amazon Pharmacy just launched a prescription service for generic medicines. I tried it out and paid a $5 monthly fee to receive generic medicines. Setting up my prescriptions took forever and I probably won't use it again. Amazon just launched a new prescription subscription.For a $5 flat fee, Amazon Prime members can get access to generic medications for 80 common health conditions, like allergies, anxiety, and diabetes. The subscription, called RxPass, is an extension of Amazon Pharmacy, which allows shoppers to get their prescription drugs delivered straight to their door — just like their toilet paper or dog food.But instead of paying for each medication separately, the pass offers customers a way to lower their healthcare costs by grouping all their generic medicines together with a low monthly fee. It's Amazon's latest healthcare experiment, after the tech giant launched a virtual clinic in November and struck a deal to buy One Medical in July.I decided to see how the RxPass works first hand by ordering my generic medicine through the new service. While I don't take multiple generic medicines, I saw that ordering my single medicine through RxPass would still save me a few dollars each month.RxPass is billed as a way to help patients save time and money but in the end, I spent over an hour on 7 different phone calls to my doctor's office and the pharmacy to get my medicine.In a statement, Dr. Vin Gupta, chief medical officer of Amazon Pharmacy, said: "We are always listening to patient feedback to improve our products and services, and we'll continue to do that with RxPass." Here's what I did to get my medicine from Amazon Pharmacy's new RxPass.I decided to try out Amazon Pharmacy’s new RxPass to see if I could shave a few dollars off my generic medicine each month.Yeji Jesse Lee/InsiderFirst, I had to create an RxPass account and fill in some personal details.Yeji Jesse Lee/InsiderRxPass is available in 42 states and doesn't work for patients with government insurance like Medicare and Medicaid.A spokesperson for Amazon Pharmacy told Insider that Amazon Pharmacy accepts most insurance plans, including government sponsored programs, but that many government programs prohibit pharmacies from charging directly for medications that would be covered by their insurance.I also verified my phone number and set up a 4-digit code so that my medical information would be private — even from others who shared my Amazon Prime account. I liked that Amazon set up this safeguard because it gave me a sense of privacy.Yeji Jesse Lee/InsiderThen I added my credit card to pay for the service.Yeji Jesse Lee/InsiderBecause I set up my account near the end of the month, Amazon charged me just 84 cents for January and then the total fee of $5 at the beginning of February.After answering some questions about my current medications, health history, and allergies, it was time to choose the medicines I wanted.Yeji Jesse Lee/InsiderAccording to Amazon, RxPass offers generic drugs that target 80 common health conditions, which seems impressive. You can find the medicines you want based on the name of the medicine or the condition you're looking to treat.Yeji Jesse Lee/InsiderI had an allergy prescription and was happy to find that two different medicines I had prescriptions for were included through RxPass.Yeji Jesse Lee/InsiderShoutout to all my allergy girlies.I clicked through and landed at a page that gave me four different options for the drug that I could choose from. I chose the first option, but failed to realize that it didn't have the tiny label marking it as "Included with RxPass."Yeji Jesse Lee/InsiderThat’s when my troubles began. I transferred my prescription from CVS Pharmacy over to Amazon Pharmacy by filling in my prescriber information and my old pharmacy address.Yeji Jesse Lee/InsiderAmazon told me it received my transfer request and said that it would let me know when my medicine was ready to be checked out.Yeji Jesse Lee/InsiderThe process took a long time.Amazon Pharmacy's Gupta told Insider in an emailed statement that to ensure safety, prescriptions can only be held by one pharmacy at a time. Moving a prescription can sometimes create delays, for instance in cases where the doctor or transfering pharmacy is slow to provide the needed information. Five days after I requested my prescription transfer, I got an email saying that my medicine was ready. That was relatively easy, I thought! Unfortunately, no.Yeji Jesse Lee/InsiderWhen I tried to check out for free using RxPass, I saw that I was being asked to pay $13.40.Yeji Jesse Lee/InsiderAfter a lot of searching, I realized that the medicine I picked was missing the tiny label that read "Included with RxPass," even though the medicine name was included on RxPass' list of available medicines.Yeji Jesse Lee/InsiderAmazon Pharmacy's Gupta said that currently search results provide a list of all available options for a specific medication and that the full list includes "detailed information about each medication as well as upfront pricing that allows customers to make the best decision based on their individual health needs." I clicked through the other links and saw the same thing — if you try to find a medicine through RxPass' list of available drugs, the site will link you to the wider Amazon Pharmacy site, where you have to wade through a list of options to find one that is included with the RxPass.Yeji Jesse Lee/InsiderAmazon: please make that label bigger.Back to square one. Luckily I had a different medicine that was definitely included with RxPass.Yeji Jesse Lee/InsiderI checked. A lot. So I did the whole thing again — asked to transfer my prescription to Amazon Pharmacy then waited as my prescription went under a review.Yeji Jesse Lee/InsiderAfter a week of waiting, this time I received an email saying that my prescription was no longer available.Yeji Jesse Lee/InsiderI called Amazon Pharmacy's customer care number and the rep told me that my doctor had prescribed my medicine in a way that "didn't exist" in their system. After making a series of calls between my doctor's office and Amazon Pharmacy, it turned out that my doctor had prescribed the medicine in a slightly different way than how Amazon Pharmacy categorized the medicine in their system.Yeji Jesse Lee/InsiderPictured here: a log of the calls I made between my doctor's office and Amazon Pharmacy to figure out why my prescription wasn't going through.I had to call my doctor to ask them to re-prescribe my medicine. They did, but that meant I'd have to start the process all over again.Yeji Jesse Lee/InsiderAmazon Pharmacy's Gupta said there may be a few reasons why this happened. He said the doctor may have prescribed a formulation that Amazon doesn't carry or that isn't available, or prescribed an over-the-counter therapy.Not wanting to wait another week, I called Amazon again the next day and asked if there was a way for me to get my medicines more quickly. The phone rep was able to mark my case as “important” and said that should expedite the process.Yeji Jesse Lee/InsiderWhen I checked my account the following day, I saw I was finally able to check out my medicine for $0 under RxPass. I placed my order and the tracker showed that I should expect my package the next day.Yeji Jesse Lee/InsiderTwo and a half weeks after making my RxPass account, I finally got my package with my medicine (which, by the way, is also sold over the counter).Yeji Jesse Lee/InsiderI plan to cancel my RxPass soon. I can see why people with expensive generic medicines taken over a long period of time might find the service useful, but I think I'll stick to taking a 10 minute walk to my pharmacy and picking up my drugs in person.Yeji Jesse Lee/InsiderUnlimited generic prescriptions may sound like an awesome idea, but in reality this experience showed me it's really hard to build and pull off an entirely new system.Yeji Jesse Lee/InsiderIn total, I saved $10 compared to what I could have paid on Amazon Pharmacy without the pass.While I hope I had a one-off bad experience, I definitely think there are kinks in the system that need to be addressed.Read the original article on Business Insider.....»»

Global Sperm Counts Declining At Accelerating Rate: New Meta-Analysis Authored by David Charbonneau via The Epoch Times (emphasis ours), A recently published meta-analysis shows that global sperm counts are declining worldwide—at an accelerating rate. The article, published in the journal Human Reproduction Update in November 2022 by an international team of researchers, reviewed 2,936 scholarly abstracts and 868 full articles and analyzed data from 38 sperm count studies done on six continents, updating their landmark study of 2017. The 2017 study found sperm counts had fallen in North America, Europe, and Australia by over 50 percent in a fifty-year span. The current study updated this data as well as added data from South/Central America, Asia, and Africa. “The aim of this study was to examine trends in sperm count among men from all continents. The broader implications of a global decline in sperm count, the knowledge gaps left unfilled by our prior analysis, and the controversies surrounding this issue warranted an up-to-date meta-analysis,” said the authors. The analysis found that while sperm counts had declined at the average rate per year of 1.16 percent between 1972 and 2000, the rate of decline since 2000 has increased to an average of 2.64 percent per year. The new 2022 study updates an earlier 2017 study to cover a broader geographic area and include new studies. Its analysis reveals a significant drop in sperm count. (Temporal trends in sperm count: a systematic review and meta-regression analysis of samples collected globally in the 20th and 21st centuries/Oxford Academic) Reviewing the findings in an After Skool YouTube episode, study author Shanna Swan said: “Now we can conclude that among men who didn’t know what their fertility [rate] was, who are, by the way, most representative of the general population, that there was a significant decline [in sperm counts and sperm concentration] in Asia, Africa, and South America—so now we can say that our finding of a significant decline in sperm concentration and count is worldwide—that was a big change from the 2017 paper. “The other change from the 2017 paper was the rate at which sperm counts are declining: When we look at recent years—particularly since the turn of the century—the rate is 2.64 per year. That’s more than double 1.16, the prior finding.” The Role of Plastics in Reproductive Disruption The obvious question is—why the accelerated rate of decline? Swan dismissed genetic explanations, pointing out that genetic changes take “many generations to appear” whereas these changes are taking place in two generations or less. “That leaves us with environment,” Swan said. Swan and other experts believe the problem is a class of chemicals called endocrine disruptors, which interfere with the body’s hormones. Read more here... Tyler Durden Wed, 02/22/2023 - 23:05.....»»

Animals breathe air, drink water, and eat food contaminated with PFAS just like us. Mapping the pollution reveals a big forever-chemical cleanup job. One study found PFAS in Florida's manatees.James R.D. Scott/Getty Images Animals, birds, and fish across the planet are contaminated with forever chemicals, a new report found. Per- and polyfluoroalkyl substances (PFAS) pose health risks to humans, and could also harm animals. A map of 125 peer-reviewed studies reveals the widespread contamination of wildlife on Earth. Animals are contaminated with hazardous forever chemicals on every continent except Antarctica, according to a new report.Creatures ranging from tigers and polar bears, to red pandas and voles, to plankton in the sea, are likely accumulating per- and polyfluoroalkyl substances (PFAS) by eating fish, drinking water, or simply breathing air, and it could put them at risk.PFAS can be found in tons of manufactured goods, from food packaging and clothing, to firefighting foam and (formerly) Teflon pans.Though they're useful for resisting water, heat, and stains, PFAS do not break down in the environment, earning them the "forever chemicals" nickname.Rainfall and soil across the planet may contain unsafe levels of the substances. A red panda cub photographed in Seattle, Washington. In China, these animals have been found to contain PFAS.Elaine Thompson/APThat has led to widespread contamination of living creatures, according to a report published Wednesday by the Environmental Working Group, a nonprofit specializing in research and advocacy on household chemicals.Researchers there gathered 125 peer-reviewed studies that tested wildlife for PFAS over the last five years. Not a single study in the assessment failed to detect PFAS in the animals, birds, or fish tested, according to David Andrews, a senior scientist at EWG.Locations where PFAS-contaminated wildlife have been documented.Copyright © Environmental Working Group, www.ewg.org. Reproduced with permission.Many of the studies were testing near a known PFAS site, such as a firefighting base or industrial facility.But often, Andrews said, those studies couldn't find an uncontaminated animal population to serve as a control group — a baseline far from the site for comparison. "This is really a global contamination issue, and it's likely impacting wildlife everywhere," he told Insider.Wildlife worldwide struggle against habitat loss, climate change, and sometimes poaching. The new report suggests that contamination from forever chemicals may pose yet another threat to many species' survival.PFAS could pose a threat to animals' healthPolar bears in the Arctic also had PFAS in a study.Mathieu Belanger/ReutersThe impacts of PFAS on animals' health are not well-studied, but for humans, research has linked exposure to the chemicals with some cancers, thyroid disease, decreased fertility, developmental delays, liver damage, high cholesterol, and reduced immune responses.As a result, the US Environmental Protection Agency has deemed the two most notorious PFAS as "hazardous substances" and is working on rules for reducing their presence in drinking water.Andrews fears animals across the globe could face similar health risks to PFAS-drinking humans.Some research hints at this. One study in North Carolina found alligators with high blood levels of PFAS showed signs of weakened immune systems.An alligator swallows a catfish, which could be full of PFAS.Getty ImagesMore research is needed to understand the stakes.Just as studies in rats can't predict human health outcomes, studies in alligators can't predict polar bear health outcomes."There's definitely some uncertainty and likely some variation between species in terms of how these chemicals are causing harm," Andrews said. "That is also a unique aspect of these chemicals: how many different parts of the body and our biology they can impact and cause harm to."Phasing out forever chemicals is a slow process so farUS Environmental Protection Agency officials listen to members of the public comment during a PFAS Community Stakeholder Meeting, in Horsham, Pennsylvania.AP Photo/Matt RourkeUS manufacturers have already phased out a few PFAS, but many of the thousands of varieties are still in use. Andrews called for replacing them with alternative substances.At the same time, industrial facilities are burping PFAS into the air and leaking them into waterways. Cleaning up these emission sites is key to stopping more forever chemicals from building in the environment.Last month the European Union released a proposal to ban the production, sale, and use of 10,000 PFAS. The proposal is currently under assessment.In the US, the EPA expects to publish a national drinking-water regulation for PFAS by the end of 2023, including an enforceable maximum contamination limit."It will take regulatory action to move the entire market and country away from dependence on these chemicals," Andrews said.Read the original article on Business Insider.....»»

Amazon just launched a new subscription to get generic prescription medications for $5 a month with no delivery fees. Yeji Jesse Lee/Insider Amazon Pharmacy just launched a prescription service for generic medicines. I tried it out and paid a $5 monthly fee to receive generic medicines. Setting up my prescriptions took forever and I probably won't use it again. Amazon just launched a new prescription subscription.For a $5 flat fee, Amazon Prime members can get access to generic medications for 80 common health conditions, like allergies, anxiety, and diabetes. The subscription, called RxPass, is an extension of Amazon Pharmacy, which allows shoppers to get their prescription drugs delivered straight to their door — just like their toilet paper or dog food.But instead of paying for each medication separately, the pass offers customers a way to lower their healthcare costs by grouping all their generic medicines together with a low monthly fee. It's Amazon's latest healthcare experiment, after the tech giant launched a virtual clinic in November and struck a deal to buy One Medical in July.I decided to see how the RxPass works first hand by ordering my generic medicine through the new service. While I don't take multiple generic medicines, I saw that ordering my single medicine through RxPass would still save me a few dollars each month.RxPass is billed as a way to help patients save time and money but in the end, I spent over an hour on 7 different phone calls to my doctor's office and the pharmacy to get my medicine.In a statement, Dr. Vin Gupta, chief medical officer of Amazon Pharmacy, said: "We are always listening to patient feedback to improve our products and services, and we'll continue to do that with RxPass." Here's what I did to get my medicine from Amazon Pharmacy's new RxPass.I decided to try out Amazon Pharmacy’s new RxPass to see if I could shave a few dollars off my generic medicine each month.Yeji Jesse Lee/InsiderFirst, I had to create an RxPass account and fill in some personal details.Yeji Jesse Lee/InsiderRxPass is available in 42 states and doesn't work for patients with government insurance like Medicare and Medicaid.A spokesperson for Amazon Pharmacy told Insider that Amazon Pharmacy accepts most insurance plans, including government sponsored programs, but that many government programs prohibit pharmacies from charging directly for medications that would be covered by their insurance.I also verified my phone number and set up a 4-digit code so that my medical information would be private — even from others who shared my Amazon Prime account. I liked that Amazon set up this safeguard because it gave me a sense of privacy.Yeji Jesse Lee/InsiderThen I added my credit card to pay for the service.Yeji Jesse Lee/InsiderBecause I set up my account near the end of the month, Amazon charged me just 84 cents for January and then the total fee of $5 at the beginning of February.After answering some questions about my current medications, health history, and allergies, it was time to choose the medicines I wanted.Yeji Jesse Lee/InsiderAccording to Amazon, RxPass offers generic drugs that target 80 common health conditions, which seems impressive. You can find the medicines you want based on the name of the medicine or the condition you're looking to treat.Yeji Jesse Lee/InsiderI had an allergy prescription and was happy to find that two different medicines I had prescriptions for were included through RxPass.Yeji Jesse Lee/InsiderShoutout to all my allergy girlies.I clicked through and landed at a page that gave me four different options for the drug that I could choose from. I chose the first option, but failed to realize that it didn't have the tiny label marking it as "Included with RxPass."Yeji Jesse Lee/InsiderThat’s when my troubles began. I transferred my prescription from CVS Pharmacy over to Amazon Pharmacy by filling in my prescriber information and my old pharmacy address.Yeji Jesse Lee/InsiderAmazon told me it received my transfer request and said that it would let me know when my medicine was ready to be checked out.Yeji Jesse Lee/InsiderThe process took a long time.Amazon Pharmacy's Gupta told Insider in an emailed statement that to ensure safety, prescriptions can only be held by one pharmacy at a time. Moving a prescription can sometimes create delays, for instance in cases where the doctor or transfering pharmacy is slow to provide the needed information. Five days after I requested my prescription transfer, I got an email saying that my medicine was ready. That was relatively easy, I thought! Unfortunately, no.Yeji Jesse Lee/InsiderWhen I tried to check out for free using RxPass, I saw that I was being asked to pay $13.40.Yeji Jesse Lee/InsiderAfter a lot of searching, I realized that the medicine I picked was missing the tiny label that read "Included with RxPass," even though the medicine name was included on RxPass' list of available medicines.Yeji Jesse Lee/InsiderAmazon Pharmacy's Gupta said that currently search results provide a list of all available options for a specific medication and that the full list includes "detailed information about each medication as well as upfront pricing that allows customers to make the best decision based on their individual health needs." I clicked through the other links and saw the same thing — if you try to find a medicine through RxPass' list of available drugs, the site will link you to the wider Amazon Pharmacy site, where you have to wade through a list of options to find one that is included with the RxPass.Yeji Jesse Lee/InsiderAmazon: please make that label bigger.Back to square one. Luckily I had a different medicine that was definitely included with RxPass.Yeji Jesse Lee/InsiderI checked. A lot. So I did the whole thing again — asked to transfer my prescription to Amazon Pharmacy then waited as my prescription went under a review.Yeji Jesse Lee/InsiderAfter a week of waiting, this time I received an email saying that my prescription was no longer available.Yeji Jesse Lee/InsiderI called Amazon Pharmacy's customer care number and the rep told me that my doctor had prescribed my medicine in a way that "didn't exist" in their system. After making a series of calls between my doctor's office and Amazon Pharmacy, it turned out that my doctor had prescribed the medicine in a slightly different way than how Amazon Pharmacy categorized the medicine in their system.Yeji Jesse Lee/InsiderPictured here: a log of the calls I made between my doctor's office and Amazon Pharmacy to figure out why my prescription wasn't going through.I had to call my doctor to ask them to re-prescribe my medicine. They did, but that meant I'd have to start the process all over again.Yeji Jesse Lee/InsiderAmazon Pharmacy's Gupta said there may be a few reasons why this happened. He said the doctor may have prescribed a formulation that Amazon doesn't carry or that isn't available, or prescribed an over-the-counter therapy.Not wanting to wait another week, I called Amazon again the next day and asked if there was a way for me to get my medicines more quickly. The phone rep was able to mark my case as “important” and said that should expedite the process.Yeji Jesse Lee/InsiderWhen I checked my account the following day, I saw I was finally able to check out my medicine for $0 under RxPass. I placed my order and the tracker showed that I should expect my package the next day.Yeji Jesse Lee/InsiderTwo and a half weeks after making my RxPass account, I finally got my package with my medicine (which, by the way, is also sold over the counter).Yeji Jesse Lee/InsiderI plan to cancel my RxPass soon. I can see why people with expensive generic medicines taken over a long period of time might find the service useful, but I think I'll stick to taking a 10 minute walk to my pharmacy and picking up my drugs in person.Yeji Jesse Lee/InsiderUnlimited generic prescriptions may sound like an awesome idea, but in reality this experience showed me it's really hard to build and pull off an entirely new system.Yeji Jesse Lee/InsiderIn total, I saved $10 compared to what I could have paid on Amazon Pharmacy without the pass.While I hope I had a one-off bad experience, I definitely think there are kinks in the system that need to be addressed.Read the original article on Business Insider.....»»

The Olaplex lawsuit follows a pattern familiar in other consumer lawsuits that also targeted companies' advertising and their products' ingredients. Olaplex was just hit with a consumer lawsuit in California.Insider Olaplex has been sued by customers who alleged its products damaged their hair and scalp. Companies like Thinx, P&G, and Unilever have set aside millions of dollars to settle consumer suits. Customers seeking vindication in court must deliver evidence and be strategic, lawyers said. Olaplex was just sued by a group of more than two dozen customers who accuse the company of making false statements and allege problems like hair loss and scalp damage after using products by the TikTok-famous brand. Olaplex has denied their claims.The suit's allegations follow a pattern familiar in other consumer lawsuits, which have also targeted companies' advertising and the ingredients in their products. For instance, the menstrual underwear brand Thinx recently agreed to pay up to $5 million to settle a class-action lawsuit claiming the once Instagram-popular menstrual underwear contained harmful chemicals. The Thinx deal would repay customers for some purchases. But it doesn't offer payouts for health issues or medical costs potentially linked to exposure to PFAS, the class of harmful "forever chemicals" that the lawsuit alleged was found in Thinx underwear. Thinx has denied the lawsuit's claims, and said it settled the suit without admitting any fault. "We take customer health and product safety seriously. We can confirm that PFAS have never been part of our product design," Felicia Macdonald, a representative for Thinx, said in a statement. "We will continue to take measures to help ensure that PFAS are not added to our products."The Thinx case highlights a common pattern in high-profile lawsuits over beauty and consumer products: customers may cite reports of bad experiences using a product, but not necessarily make those a pillar of their case. Instead, they emphasize that the company's marketing and public statements misled them and allege that it violated state consumer protection laws. Winning cases like this don't often yield huge payouts on a per-customer basis. Instead, these cases — which can take years — may recoup only a portion of customers' spending on the products in question. But plaintiffs lawyers said these types of lawsuits can also trigger other changes."We can make big changes to products and messaging the consumers receive, which allows consumers to make better, more informed decisions," said Erin Ruben of Milberg Coleman Bryson Phillips Grossman, an attorney representing plaintiffs who sued Thinx. "That's why we do what we do."  The Thinx settlement includes a $4 million pot to pay customers and legal fees, and as much as another $1 million for any required "valid claims," according to the settlement. Customers could get reimbursed for up to three pairs of Thinx underwear, or get a discount of up to $52.50 on a new order, according to the settlement website. The brand also agreed to use quality control processes to make sure that PFAS chemicals aren't "intentionally added" to its products.In a separate case last July, Procter & Gamble Co. agreed to resolve class claims that the company's brands like Secret and Old Spice didn't warn that their spray deodorant contained the toxic chemical benzene. P&G said in 2021 that it recalled the spray products at issue, citing an "abundance of caution." It also said in its settlement notice that it "denies that any of the allegations are true and that it did anything wrong."The settlement included $8 million to eligible customers who wanted refunds, with a per-household cap of up to $10.50, according to filings in the case.  Personal injury claims can be hard to proveIn some cases, customers have won settlements covering alleged health problems, by making what are called personal injury claims. These claims can yield higher payouts, but are generally harder to prove — especially among a large class of plaintiffs. In 2021, the curly hair shampoo brand Devacurl agreed to a $5.2 million settlement that included two categories of recoveries: $20 per customer to resolve claims related to how the brand advertised the safety of its hair care products, and as much as $19,000 for individuals who could show proof supporting claims that the products hurt them. In that case, customers said Devacurl's curly hair products contained ingredients that released formaldehyde and caused skin irritation, and said the company had quietly changed ingredients and formed a committee to handle negative publicity. Devacurl has said on its settlement website that it "vigorously denies" claims of health problems like hair loss and scalp problems. The settlement site also states that the litigation never proved anything — only that "the costs and uncertainty" of a prolonged court case incentivized settling. But the case shows how suits can sometimes leverage detailed allegations about what customers claimed were the offending ingredients, the volume of complaints, and how the company allegedly responded. In 2014, Unilever agreed to provide $10.3 million to settle customers' allegations that its Suave Professionals Keratin kit product contained an ingredient that could injure the scalp. Unilever agreed to the settlement while "denying wrongdoing of any nature and without admitting liability," according to the settlement agreement. That settlement provided options including a $10 refund for eligible customers, and payments for people who alleged the product caused them injuries, according to court filings in the case. Plaintiffs lawyers may test products for harmful ingredientsIn many cases concerning consumer products, plaintiffs lawyers may enlist a third party to test the items for any proof that they contain a harmful ingredient, attorneys said. "It helps to have evidence that the chemical is in the product through independent testing, or news reporting," said R. Jason Richards, an attorney at Aylstock Witkin Kreis & Overholtz. Richards said his firm has tested products like sunscreens before bringing lawsuits over them.Beauty products generally aren't as closely regulated as items like medical drugs and devices. The Food and Drug Administration, which oversees cosmetics in addition to pharmaceuticals, requires items like makeup and shampoo to be safe, and to be labeled correctly for how they're used. But, unlike with medical drugs and devices, the agency doesn't have to pre-approve cosmetics before they're sold, and it doesn't impose the same manufacturing practice regulations — leaving those safety and quality assessments up to companies. "From a basic consumer protection standpoint, most companies will do some type of testing before releasing the product to make sure it's safe," said Allison Fulton, a partner at Sheppard Mullin who advises companies on complying with FDA rules. "It just doesn't have to submit that data to the FDA," she said.  For customers worried about whether they're experiencing health problems from a product and seeing other similar complaints percolating in message boards, calling an attorney can be a good first step, said Diandra Debrosse Zimmermann, a partner at DiCello Levitt who represents plaintiffs in a range of suits, including issues arising from products. "If you think it's a significant issue, look online: are other people complaining? Reach out to the right lawyer," she said. Read the original article on Business Insider.....»»

Celebrate your girlfriend with gifts that fit any occasion, ranging from thoughtful and unique to sentimental and romantic. When you buy through our links, Insider may earn an affiliate commission. Learn more.Bearaby; CatbirdWhether it's for her birthday, Valentine's Day, or just because, your girlfriend deserves a thoughtful gift that suits her lifestyle. From a cozy shearling throw blanket for the homebody, to luxury colored glassware for the host, to a mini portable speaker for the audiophile, we've come up with 69 gifts for girlfriends of all types.Whether it's a stylish accessory she can wear everyday or practical tech she didn't realize she needed — and whatever your budget or the occasion — these are the best gifts that say to her: You're the best girlfriend.A weighted throw blanket for better restJen Gushue/InsiderBearaby Cotton NapperWeighted blankets can encourage relaxation and improve sleep, and Bearaby's Cotton Napper is stylish enough to be thrown over any couch or bed. With multiple colors and weights for the ideal fit for her and her home, it's one of the best weighted blankets we've tested — and it's machine washable. At $200–300 depending on weight, it's one of the pricier gifts in this guide; for a more budget-friendly option, we recommend the Luna Weighted Blanket, which is typically under $100 and sometimes goes on sale for less than $50.Colored glassware for a luxurious cocktail partyWest ElmEstelle Colored Rocks Glass (Set of 6)Beauty and function meet in these rocks glasses by Estelle Colored Glass, a Black-owned home decor brand specializing in luxury hand-blown glassware. Blending classic silhouettes with eye-catching contemporary colors, this 6-piece set is perfect for the host who wants her drinkware to wow as much as the drinks. If bubbly is more her style, we also love Estelle Colored Glass's Champagne Coupe Stemware.The plushest reversible throw blanketAmazonUGG Bliss Sherpa ThrowWith a cuddly, wool-like texture on one side and a smoother microfleece on the other, UGG's Bliss Sherpa Throw is one of our favorite throw blankets. It's perfect for curling up in front of the TV, and large enough to share when date night is a movie marathon at home.A textured foam-roller to massage out any knotTriggerPointTriggerPoint GRID Foam RollerWhether your girlfriend is sore from tearing up the gym or simply being on her feet all the time, a foam roller is a great gift for aiding her muscle recovery. The TriggerPoint GRID Foam Roller is one of the more practical rollers we've tested, due to its lightweight and water-resistant material, packable dimensions, and approachable price point, but we've also recommended more intense options — vibration included! — if you're willing to go above $100.A versatile styling tool for any hair typeSharkShark FlexStyle Air Drying & Styling SystemThe Dyson Airwrap is notoriously hard to obtain, whether because of stock issues or its $600 price tag, so our Style & Beauty team recommends the Shark FlexStyle as the closest multi-styling tool on the market. At half the price of the Airwrap, it's still more of a splurge, but well worth it for a girlfriend who's interested in upping her at-home hairstyling game.An instant camera she can also use with BluetoothAmazonPolaroid Now+ White (9062) Bluetooth Connected Instant Film CameraFor the girlfriend who loves snapping pics, give her the option of either using the camera or connecting her phone and directly printing from her camera roll. The Polaroid Now+ also comes with five creative lens filters to unlock even more artistic possibilities.A belt bag suited for festivals, mountains, and morePatagoniaPatagonia Ultralight Black Hole Mini Hip PackWhether she's looking for a bag that can survive some rough wear or aiming for a trendy dressed-down look, Patagonia's hip pack can rise to the occasion. It's one of our favorite belt bags, made from recycled fabric and available in a variety of colors, and with an adjustable strap to suit diverse body types and ways to wear it.A Bluetooth speaker small enough to fit in her bagJBLJBL Go 3 Portable SpeakerIf she doesn't like sacrificing space or sound quality, she'll love the JBL Go 3 Portable Speaker. Available in a variety of colors, the Bluetooth speaker is waterproof, measures 3.4 inches on its longest side, and has a loop that makes it easy to attach to a bag or belt. It's typically around $50, but keep an eye peeled during shopping holidays, when we've seen deals as high as 50% off.An affordable luxury watchBredaBreda Esther Square Metal WatchBreda makes luxury watches that are usually just under or slightly over the $200 price range, and we love how they look for the price. This model comes in an 18K gold-plated case and stainless steel band.A hot sauce subscriptionFuego BoxFuego Box SubscriptionSpice things up with this hot sauce subscription, which delivers one or three hot sauces to your girlfriend's door every month. There's even an extra-hot version if her heat tolerance is off the charts.A fancy candleOtherlandOtherland CandleOtherland makes some of our favorite luxury candles, and for $36 a pop, they offer unique scent combos in a really beautiful, reusable container. You can also mix-and-match your own gift sets or shop exclusive collections.A customizable leather tote she'll use for yearsCuyanaCuyana System ToteShe'll happily replace her canvas tote for this sleek, sturdy leather one from Cuyana. It comes in a few neutral shades and can be customized with a crossbody strap or matching laptop case.A mug that always stays warmEmberEmber Mug 2If your girlfriend takes forever to sip their tea or coffee, get them this ingenious mug that keeps their beverage for as long as it takes for them to drink it all. It's also app-controlled, so they can use their phone to find the right temperature and presets.An annual pass to see US National ParksREIAmerica the Beautiful Pass 2023/2024If your girlfriend loves experiential gifts, look no further than this annual pass to most of the US National Parks. It accommodates a car of up to four people, so you can plan a trip with friends or family, too.UGG-like boots for half the priceQuinceQuince Australian Shearling Mini BootsUGG-style boots have been making a comeback, and these mini boots offer the same warmth, quality, and style for a fraction of the price of real UGGs.A dainty nameplate necklaceCatbirdCatbird Tiniest Name NecklaceNameplate necklaces consistently stay in style, so this piece is bound to become an everyday staple. You can pick her name, nickname, or even just a place she loves.A board game version of WordleThe popular online puzzle Wordle is being reimagined as a board game.Hasbro/The New York TimesWordle: The Party GameIf your girlfriend sends you her Wordle score every day, she'll be thrilled with the physical board game version. You can play against each other or have up to four people racing against the clock to guess the word first.A bestselling lip maskAmazonLaneige Lip Sleeping MaskIf your partner always complains of chapped lips (especially in the winter), this bestselling lip mask is a great, low-key gift that will leave their lips feeling smooth and nourished come morning. A card game to deepen personal connectionsUrban OutfittersWe're Not Really Strangers Card GameThis card game, from the popular Instagram account We're Not Really Strangers, is designed to enhance connections between people with different levels: perceptions, connection, and reflection. Not only is it a card game you haven't played before, but it's also a thoughtful activity you can enjoy with your girlfriend.A cookbook for movie night dinnersUncommon Goods"Eat What You Watch Cookbook" by Andrew ReaDinner and a movie: a classic pairing. Inspire future date nights with the "Eat What You Watch Cookbook." It has 41 as-seen-on-the-big-screen recipes — think hazelnut gelato from "Roman Holiday" and double-decker New York-style pizza inspired by "Saturday Night Fever" that you can prepare together for movie night.A customized map of her favorite placeGrafomapGrafomap Custom MapGrafomap lets you design custom maps of anywhere in the world — like the first place you met, the best trip you ever took together, or the hometown she couldn't wait to show you. It's unique, thoughtful, and pretty inexpensive.  You can find our full review here.A pack of highly-rated sheet masksAmazonDermal Sheet Mask Set (39-Pack)Grab 39 sheet masks to make it easier for your girlfriend to have a frequent and well-deserved "treat yourself" day. These are highly rated and have both vitamin E and collagen included for healthy, happy skin.   Silky, breathable leggingsEverlaneEverlane Perform LeggingsEverlane's Perform Leggings are some of our all-time favorites — they're breathable and silky, like a slightly less expensive version of Alo leggings. You can read a full review of the Everlane Perform Leggings and see pictures of them here.A sweet keepsake bookUncommon GoodsKnock Knock "What I Love About You by Me" BookIf your girlfriend has a sentimental side, this fill-in-the-blank book will make her melt. It's filled with over 110 pages of prompts where you can share all of the special, silly things you love about her. A large print of a favorite memoryArtifact UprisingArtifact Uprising Large Format PrintsArtifact Uprising makes luxury prints at accessible prices — and they make especially thoughtful gifts that look like they should cost much more. Get one of their favorite photos printed on archival fine art paper for $20 and up, or thoughtful cards for as little as $1.45 per custom card. You can also make a color series photo book for $22, a set of prints for $9, and a personalized calendar on a handcrafted wood clipboard for $30.A hair towel that reduces damage and cuts drying time by 50%AquisAquis Rapid Dry Lisse Hair TowelAquis' cult-favorite hair towels can cut the amount of time it takes for her hair to dry in half — a claim we're happy to report holds up. The proprietary fabric also means there's less damage to wet hair while it dries. A pass to get into a bunch of boutique fitness classesClasspassClassPass Gift CardBoutique fitness classes are expensive, which can make trying new workouts — either for variety or to figure out what we like — less appealing. ClassPass solves both issues. It's relatively affordable, and members can access a neverending catalog of great workouts with small class sizes. If your partner is getting back into fitness after over a year of at-home workouts, we'd highly recommend a gift card here for whenever they're ready to use it.A lamp that melts candles without lighting themCrystal Cox/Insiderluzdiosa Candle Warmer LampAside from looking cute, this TikTok-famous lamp warms candles up without lighting them. It helps your girlfriend enjoy her candles' scents whenever she wants without worrying about smoke or accidentally forgetting to put them out.An expertly designed plannerCrystal Cox/InsiderBestSelf Co. Self JournalThe Self Journal is an undated, 13-week planner that's designed for daily use and quarterly planning. It helps its owner break projects and goals into manageable chunks. We love it.If she's working towards a big goal, this could be a really thoughtful resource — especially if it's the kind of goal you can't help her achieve otherwise.Delicious sweets from a famous NYC bakeryMilk BarMilk Bar TreatsIf your girlfriend has a sweet tooth, send her Milk Bar — the company delivers its iconic and decadent cakes, cookies, and truffles to her doorstep.A soothing bath salt setMaudeMaude Tub Kit No. 3If you love your girlfriend but hate to see her burn out, you can treat her to this luxe bath set, which comes with two types of soaking salts and a coconut milk bath. You can choose from three different scent profiles — this one has notes of eucalyptus, sandalwood, cassis, and Haitian vetiver.The internet's favorite olive oilBrightlandBrightland Awake Olive OilBrightland's olive oils make great gifts for cooks and anyone else who loves to entertain. The white bottles protect the EVOO from light damage and look nice displayed on a countertop. Find a full review here. A framed keepsake of a favorite memoryFramebridgeFramebridge Framed PhotoFramebridge makes custom framing a bit more affordable. You can print or paint something on your own and have it framed, or have them print and frame it, and you can take advantage of the team of designers for help deciding what frame to get. The best socks she'll ever wearBombasBombas Women's Performance Running Ankle Sock 3-PackBombas makes the best socks we've ever tried, and they're a gift we find ourselves giving every year to loved ones. They're lightweight, moisture-wicking, and built to circumvent annoyances like uncomfortable seams and heel slipping.A 215-piece art kit for creative projectsAmazonArt 101 215-Piece Wood Art SetIf your girlfriend loves to create art, this 215-Piece art kit includes everything she'll need for projects: Crayons, colored pencils, oil pastels, fine line markers, watercolor cakes, and acrylic paint.Her favorite specialty food straight from the sourceGoldbelly/InstagramGoldbelly Restaurant Meal KitsGoldbelly makes it possible to satisfy your girlfriend's most specific and nostalgic cravings no matter where they live in the US — a cheesecake from Junior's, deep dish pizza from Lou Malnati, and more. Browse the iconic gifts section for inspiration. A mug for hot and cold drinksHydro FlaskHydro Flask 12 oz. Coffee MugThis mug is a common desk companion for the Insider Reviews team. The 12-ounce coffee mug has the company's proprietary TempShield insulation that made its water bottles famous. This mug will keep hot drinks hot for up to six hours, and cold drinks cold up to 24 hours. Read our full review of it here.A satin-lined beanieAndrea Bossi/InsiderKink and Coil Satin-Lined Beanie with Removable PompomMost people with naturally curly hair avoid wearing hats to reduce frizz, but Kink and Coil's satin-lined beanie solves that issue. Just like a silk pillowcase or a bonnet, the inside of the beanie is designed to protect your hair from frizz and damage. On top of that, the pom-pom can be removed, if she'd prefer to wear the hat without it.We spoke with a trichologist to learn more about how satin- and silk-lined beanies can benefit anyone with curly or high-porosity hair. A monthly book subscriptionBook of the Month/InstagramBook of the Month 3-Month MembershipIf she's a bookworm, Book of the Month is an especially thoughtful and unique gift — it's a book club that has been around since 1926, and it's credited with discovering some of the most beloved books of all time ("Gone with the Wind" and "Catcher in the Rye" to name a couple). If you gift her a subscription, she'll receive a hardcover book delivered to her door once a month. Books are selected by a team of experts and celebrity guest judges.A stylish leather makeup pouchDagne DoverDagne Dover Hunter Toiletry BagDagne Dover is quickly becoming one of the best women's handbag companies to know, and its toiletry pouches are a great and relatively affordable gift. The small size holds a handful of go-to toiletries, and the large should have enough space for all of the grooming essentials.A pasta maker you can use togetherWilliams SonomaImperia Pasta MachineBring the pasta maker and the fixings to make a delicious meal together. It's relatively easy to get the hang of, and you can enjoy quality time with the bonus of incredible ravioli or fettuccine on the other end of it. A custom birth chart bookBirthdate Co.Birthdate Co. Birthdate BookIf your girlfriend happens to be extremely into astrology (like, consistently asks for your exact time and location of birth so she can compare charts), surprise her with this thorough birth chart book. It comes bound in a hardcover book with beautiful illustrations that tell her zodiac story. The only caveat is you'll need to know when and where she was born, so you might need to sneakily text some friends and family first!An 8-in-1 pan that helps declutter her homeOur PlaceOur Place Always PanThe Always Pan from startup Our Place is a frying pan, saute pan, steamer, skillet, saucier, saucepan, non-stick pan, spatula, and spoon rest in the space of a single pan. In other words, a clever generalist that's extremely convenient for small spaces or minimalist cooks. You can read our review here.An elaborate charcuterie boardUncommon GoodsCompact Swivel Cheese & Tapas BoardFor the girlfriend who loves entertaining, help them live their biggest hosting dreams with this cheese and charcuterie board. With fold-out sections and cheese knives included, it has everything to create a truly stellar spread. Plus, for an added $10, you can get it personalized.A versatile exercise dressOutdoor VoicesOutdoor Voices The Exercise DressGiven the popularity of the Exercise Dress, we wouldn't be surprised if this was on your girlfriend's wish list. The Exercise Dress is comfortable, versatile, and cute — which has made it a cult-favorite item. If she's a fan of dresses, Outdoor Voices, or clothes she can wear all day long, this may be a good option. A tea subscriptionAtlas Tea ClubAtlas Tea Club SubscriptionThis subscription sends your girlfriend single-origin teas from the best tea-growing regions in the world for six months. She'll get two delicious options sent to her home each month.A bottle of Glossier perfumeGlossierGlossier You PerfumeGift your girl another opportunity to indulge in her personal beauty with this unique perfume. It has notes of pink pepper, woodsy ambrette seeds, and fresh iris — but also produces a scent unique to the wearer, making it the ultimate personal fragrance.A Dutch oven to elevate their bread gameLodgeLodge Enameled Cast Iron Dutch OvenDid your girlfriend get into baking bread and, miraculously, stay committed to it? If so, a really nice Dutch oven can help elevate her experience. You can get something great for under $100, or you can splurge on a beautiful Le Creuset. Other meaningful upgrades include a cooling rack, according to the famous baker Apollonia Poilâne.A gift card to a popular wine subscription clubWincWinc Gift SubscriptionWinc is a personalized wine club — and we think it's the best one you can belong to overall. Members take a wine palate profile quiz and then choose from the personalized wine suggestions. Each bottle has extensive tasting notes and serving recommendations online, and makes it easy to discover similar bottles. Gift her a Winc gift card, and she can take a wine palate profile quiz and get started with her own customized suggestions. A sleek fitness tracker with heart rate monitoringHollis Johnson/Business InsiderFitbit Inspire 2Fitbit's affordable Inspire 2 tracker has no shortage of useful features to keep someone informed about their physical activity — tracking calorie burn, resting heart rate, and heart rate zones.The comfiest sneakersAllbirdsAllbirds Women's Wool RunnersThe classic Wool Runners make a great gift for the uninitiated, though we'd also highly recommend the brand's casual cup sole Wool Piper for everyday wear if that's more your partner's style. You can find our full review of the Runners here, and the Wool Pipers here.A monogrammed jewelry caseCuyanaCuyana Leather Jewelry CaseKeeping track of tiny and delicate jewelry is difficult — but jewelry cases are a pretty and useful solution. This is a thoughtful and personalized gift, especially if you've gotten your girlfriend jewelry in the past, or plan to in the future. It's made from premium leather, comes in many colors, and can be monogrammed with her initials. Cuyana is a cool leather bag startup she may have already heard of. A small skincare tool that packs a lot of punchAmazonForeo Luna Play Plus 2In the category of things your girlfriend may love but hasn't asked for yet: Foreo facial brushes. Our team swears by these gentle yet effective cleansing devices. They have hygienic silicone bristles and come in five different models for different skin types. The Luna is small enough to bring on the go, so your partner can maintain their skincare routine while traveling. A trendy crossbody for her phoneBandolierBandolier Kimberly Leather CrossbodyIf they hate carrying a bulky bag just to store their phone and wallet, this stylish crossbody case was invented for them. It accommodates a wide range of smartphones and features card slots and a snap pocket to keep their essentials all in one tiny, easy-to-access place.A planned trip for the two of you to take togetherAirbnbAirbnb Gift CardIf you want to gift an experience you and your girlfriend can enjoy together, grab a card, a gift card to Airbnb, and come up with a few location ideas to choose from. You can also book a hotel in your city on Booking.com or Expedia for a sweet staycation.A comfy loungewear set she can wear anywhereSpanxThis set made Oprah's Favorite Things list in 2022, but before that, it made our list of cool, useful products we tested or purchased recently. Our executive editor, Sally Kaplan, says this is one of the comfiest, softest, most flattering sets she's ever worn. The material is lightweight and buttery, not too hot but not too light.The pants are available in petite, regular, and tall sizes, and each set comes in a few neutral colors.  The sweatshirts come in a few different styles — cropped pullover, regular pullover, and half-zip — and if the wide leg pant isn't the right style for your gift recipient, you can also buy a tapered jogger-style pant in the same material for $110.A comfy zip-up for the months aheadPatagoniaPatagonia Women's Better SweaterPatagonia makes our favorite athleisure options overall, and that definitely includes the Better Sweater. It works in pretty much any environment — in the office, at home, on a hike, or on a casual night out — and has zippered pockets to keep hands warm in the cold months. We're also big fans of the 1/4 Zip option.A waterproof Kindle for reading anywhereAmazonAmazon Kindle PaperwhiteIf your girlfriend is a reader, we'd suggest looking at Amazon's Kindle Paperwhite — it's one of our favorite e-readers on the market. With its built-in adjustable light and waterproof rating, it's perfect for reading environments indoors or outdoors, day or night. If she loves a nice, relaxing bath, pair this with a caddy, bath bombs, and a glass of wine for a relaxing night in that you've already taken care of.  A houseplant that arrives already pottedLeon & GeorgeLeon & George Silver EvergreenLeon & George is a San Francisco startup that will send beautiful plants — potted in stylish, minimalist pots — to your girlfriend's door. All she has to do is to occasionally add water. Flowers are wonderful, but houseplants have a much longer shelf life, and most of Leon & George's options are very easy to care for. We'd also recommend checking out Bloomscape for small plant trios under $70.  A cashmere crewEverlaneEverlane The Cashmere CrewFor a closet staple she'll own for years to come, Everlane's $120 Cashmere Crew (available in various colors) is about the safest choice you can make. Everlane has plenty of great gifts (you can find the Everlane basics we wear repeatedly here), so you can't really go wrong. The best bathrobe money can buyParachuteParachute Classic Turkish Cotton RobeWe think the Parachute Classic Turkish Cotton Robe is the best robe on the market. It's soft, fluffy, and absorbent like a towel. It's also got nice deep pockets and a secure waist tie.A high-tech yoga towel prevents slippingMandukaManduka Yogitoes Yoga Mat TowelManduka is known for making the best yoga products, and their Yogitoes towel is one of the most loved. It has tiny 100% silicone nubs on one side that grab yoga mats and keep yogis from slipping around during the exercise. Having a good towel can make a big difference. It also comes in 19 great colors and gets eco-friendly points. Each Yogitoes towel is made from eight recycled plastic water bottles, and made with dyes free of azo, lead, or heavy metal. A new pair of comfy BirkenstocksNordstromBirkenstock Women's Arizona Slide SandalIf your girlfriend wears the unbelievably comfortable Birkenstocks most days, she might appreciate a new, unblemished pair. They're also in style. Apple AirPods Pro for when she's on the moveCrystal Cox/Business InsiderApple AirPods Pro (2nd Gen)We love Apple's AirPods Pro for Apple users. They're no-hassle, work with Apple products, have decent sound and noise cancellation, are water-resistant, have a wireless charging case, and feel more comfortable than standard AirPods. You'll find more wireless earbuds we love here.A convertible work and travel bag to keep her organizedCaraa SportCaraa Studio Tote (Medium)Caraa Sport makes some of the most functional and best-looking gym bags on the market. This one can transition from a tote to a backpack by adding straps. It also has a hidden shoe compartment and a waterproof and antimicrobial lining. You can read our full review of this bag here.A small, portable movie projectorAmazonAnker Nebula CapsuleThis is one of the most portable (and affordable) projectors. It's about the size of a soda can, weighs one pound, and has crisp image quality and 360° sound. Use it at home or bring it with you on your travels. Find a full review of the Anker Nebula Capsule here. Comfy, high-end sheetsBrooklinenBrooklinen Luxe Hardcore Sheet BundleBrooklinen is one of our favorite companies, point-blank. We think they make the best high-end sheets at the best price on the market, and most of the Insider Reviews team uses Brooklinen on their own beds.The Luxe Hardcore Sheet Bundle comes in plenty of colors and patterns, and you can mix and match them to suit your taste. Grab a gift card if you want to give her more freedom. If you opt for a sheet bundle, she'll receive a core sheet set (fitted, flat, two pillowcases), duvet cover, and two extra pillowcases in a soft, smooth 480-thread-count weave.The best noise-canceling headphonesAmazonSony WH-1000XM4 HeadphonesIf your girlfriend is into music, the best gift is the one that improves her everyday music-listening experience. For that, we recommend our favorite noise-canceling headphones — Sony's WH-1000XM4 — that balance sound quality, noise cancellation, and comfort at a solid price.You can find more good noise-canceling headphone options here.A powerful portable speakerAmazonSonos MoveThe Sonos Move is the best Bluetooth speaker that we've tested. It's powerful, can be controlled by voice or an app, and has Amazon Alexa built-in so on WiFi you can play music, check the news, set alarms, get your questions answered, and more, without much effort.Read the original article on Business Insider.....»»

Sure, AI chatbots will save you time finding things on the web. But they're also going to lie to you. Relying on artificial intelligence for online searches will accelerate the spread of disinformation.Tyler Le/InsiderSure, Google's answer to ChatGPT will save you time. But it'll also lie to you.This week Sundar Pichai, the CEO of Google, announced that his company's internet search engine — the way the vast majority of humans interact with a near-total corpus of human knowledge — is about to change. Enter a query, and you'll get more than pages and pages of links, along with a few suggested answers. Now you'll get an assist from artificial intelligence."Soon," a Google blog post under Pichai's byline declared, "you'll see AI-powered features in Search that distill complex information and multiple perspectives into easy-to-digest formats, so you can quickly understand the big picture and learn more from the web." A chatbot named Bard will deliver search results in complete sentences, as a human might.A day later Satya Nadella, the CEO of Microsoft, announced that his company's competing search engine, Bing, will do the same, using the tech behind the popular AI chatbot ChatGPT. No search engine has ever really challenged Google's hold on the world's questions; Microsoft sees AI as its chance to come at the king.These new chatbots aren't actually intelligent. The tech behind the scenes is called a large language model, a hunk of software that can extract words related to each other from a huge database and produce sophisticated writing and visual art based on minimal prompting. But when it comes to the acquisition, classification, and retrieval of knowledge, this approach is the subject of an old fight. It's been brewing since at least the early 2000s — and maybe since the 0s, at the Library of Alexandria. Fundamentally, it's a debate about the best way to know stuff. Do we engage with the complexity of competing information? Or do we let an authority reduce everything to a simple answer? Bard has a simple answer for that age-old question. From now on, instead of showing you a dozen webpages with instructions for opening a can of beans, machine-learning droids will just tell you how to open one. And if you believe that effective search is what made the internet the most important technology of the 20th and 21st centuries, then that seemingly simple change should give you the shakes. The collateral damage in this war of the machines could be nothing less than the obliteration of useful online information forever.A hallucination of answersSometimes a simple answer is fine. In what the trade calls a "known-item search," we just want a factual response to a specific question. What's the most popular dog breed? How old is Madonna? Google is great at that stuff.The other kind of search — "exploratory search" — is the hard one. That's where you don't know what you don't know. What's the right phone for me? What's the deal with the Thirty Years' War? Getting a satisfactory answer is more iterative. You throw a bunch of keywords into the search box, you scroll through the links, you try new terms. It's not perfect, and it's skewed by the profit motives of advertisers and the implicit judgments that Google makes behind the scenes about which pages count as authoritative. But it's what made it possible for us to find a needle in an online haystack.Then came ChatGPT. As Google's vice president of search told me a year ago, when I wrote an article about why online search sucks, the company was already using artificial intelligence to make its search bar better at understanding what we seekers of knowledge really meant. But the seemingly overnight success of ChatGPT left Google scrambling to bring online a bot of its own that could answer back. Google has been dreaming of this particular electric sheep for a long time. At a conference in 2011, its chairman at the time, Eric Schmidt, declared that search's endgame was to use AI to "literally compute the right answer" to queries rather than identify relevant pages. A 2021 paper from Google Research lays out that aspiration in much more detail. "The original vision of question answering," the authors write, "was to provide human-quality responses (i.e., ask a question using natural language and get an answer in natural language). Question answering systems have only delivered on the question part." Language-model chatbots might be able to provide more humanlike answers than regular old search, they added, but there was one problem: "Such models are dilettantes." Meaning they don't have "a true understanding of the world," and they're "incapable of justifying their utterances by referring to supporting documents in the corpus they were trained over." To make an AI chatbot effective at search, the paper concludes, you'd have to build in more authority and transparency. You'd have to somehow remove bias from its training database, and you'd have to teach it to incorporate diverse perspectives. Pull off that hat trick inside a backflip, and you'd transform the bot from a dilettante to a reasonable facsimile of a "domain expert." I talked to a bunch of non-Google computer scientists about the state of internet search for my story last year, and all of them said the same thing about this idea: Don't do it.For one thing, chatbots lie. Not on purpose! It's just that they don't understand what they're saying. They're just recapitulating things they've absorbed elsewhere. And sometimes that stuff is wrong. Researchers describe this as a tendency to "hallucinate" — "producing highly pathological translations that are completely untethered from the source material." Chatbots, they warn, are inordinately vulnerable to regurgitating racism, misogyny, conspiracy theories, and lies with as much confidence as the truth.That's why we, the searchers, are a crucial component of the search process. Over years of exploring the digital world, we've all gotten better at spotting misinformation and disinformation. You know what I mean. When you're scrolling through the links in a Google search, looking for "esoteric shit," as one search expert calls it, you see some pages that just look dodgy, maybe in ways you can't even totally articulate. You skim past those and open the legit-looking ones in new tabs.Conversational answers generated automatically by chatbots will pretty much eliminate that human element of bullshit detection. Look at it this way: If you're the kind of person who reads this kind of article, you're trained to think that a halfway decent bit of writing signifies a modicum of competency and expertise. Links to sources or quotes from experts indicate viable research and confirmed facts. But search chatbots can fake all that. They'll elide the sources they're drawing on, and the biases built into their databases, behind the trappings of acceptable, almost-but-not-quite-human-sounding prose. However wrong they are, they'll sound right. We won't be able to tell if they're hallucinating. An early example of what we're in for: A wag on Mastodon who has been challenging chatbots asked a demo of a Microsoft model trained on bioscience literature whether the antiparasitic drug ivermectin is effective in the treatment of COVID-19. It simply answered "yes." (Ivermectin is not effective against COVID-19.) And that was a known-item search! The wag was looking for a simple fact. The chatbot gave him a nonfact and served it up as the truth.Sure, an early demo of Bing's new search bot provides traditional links-'n'-boxes results along with the AI's response. And it's possible that Google and Microsoft will eventually figure out how to make their bots better at separating fact from fiction, so you won't feel the need to check their work. But if algorithms were any good at spotting misinformation, then QAnon and vaccine deniers and maybe even Donald Trump wouldn't be a thing — or, at least, not as much of a thing. When it comes to search, AI isn't going to be a lie detector. It's going to be a very authoritative and friendly-sounding bullshit spreader.Knowing where we've beenIn his blog post, Pichai says conversational responses to complex queries are easier to understand than a long list of links. They're certainly faster to read — no more of that pesky scrolling and clicking. But even though a chatbot will presumably be drawing on the same sources as a traditional search engine, its answers are more likely to be oversimplifications. The risk is that search results will from now on be tales programmed by idiots, full of sound and vocabulary but with answers signifying nothing. That's not a result. It's spam.But the really dangerous part is that the chatbot's conversational answers will obliterate a core element of human understanding. Citations — a bibliography, a record of your footsteps through an intellectual forest — are the connective tissue of inquiry. They're not just about the establishment of provenance. They're a map of replicable pathways for ideas, the ligaments that turn information into knowledge. There's a reason it's called a train of thought; insights come from attaching ideas to each other and taking them out for a spin. That's what an exploratory search is all about: figuring out what you need to know as you learn it. Hide those pathways, and there's no way to know how a chatbot knows what it knows, which means there's no way to assess its answer."In many situations there is no one answer. There is no easy answer. You have to let people discover their own answers," Chirag Shah, an information scientist at the University of Washington, told me last year. "Now we have the technical abilities to build a large language model that can capture basically all of human knowledge. Let's say we could do that. The question is, would you then use it to answer all the questions? Even the questions that are not factual? It's one thing to ask when Labor Day is, or the next full solar eclipse. It's another to ask, should Russia have invaded Ukraine?"Complex subjects and ideas with multiple facets and arguments don't lend themselves to one-and-done answers. What you want is to click on the links, to follow your nose. That's how people turn existing information and art into something new, through innovation and synthesis. And that's exactly what chatbot search will not favor. Worst case, you won't be able to know anything outside what an opaque algorithm thinks is most relevant — factual or not.Microsoft's bot already shows its work. Presumably Google is also working on that. But honestly, it might not be much of a priority. "They want to keep things as simple and easy as possible for their end users," Shah observes. "That allows them to intertwine more ads in the same display and to optimize on whatever metrics they want in terms of ranking. But we already know that these things are not purely ranked on relevance. They're ranked on engagement. People don't just click and share things that are factually or authoritatively correct."Google and Bing, after all, are businesses. The chatbots answering our search terms can't be honest information brokers, not just because they're dumbasses, but because an honest information broker won't sell as many ads or amp up engagement. Google's search pages already aren't fully trustworthy — they overindex YouTube video results, for example, because YouTube is a subsidiary of Google. If the best instructional video for how to paint tabletop-game minifigures is on Vimeo? Tough.So imagine the kind of hallucinations a large language model like Bard will have if, in addition to misreading its own sources, it's programmed to favor engagement. It'll push the stuff that keeps us meatbags clicking. And as the past few years of social media have shown, that's rarely the truth. If a search engine offers only easy answers, no one will be able to ask hard questions.Adam Rogers is a senior correspondent at Insider.Read the original article on Business Insider.....»»

How The "Unvaccinated" Got It Right Authored by Robin Koerner via The Brownstone Institute, Scott Adams is the creator of the famous cartoon strip, Dilbert. It is a strip whose brilliance derives from close observation and understanding of human behavior. Some time ago, Scott turned those skills to commenting insightfully and with notable intellectual humility on the politics and culture of our country. Like many other commentators, and based on his own analysis of evidence available to him, he opted to take the Covid “vaccine.” Recently, however, he posted a video on the topic that has been circulating on social media. It was a mea culpa in which he declared, “The unvaccinated were the winners,” and, to his great credit, “I want to find out how so many of [my viewers] got the right answer about the “vaccine” and I didn’t.”  “Winners” was perhaps a little tongue-in-cheek: he seemingly means that the “unvaccinated” do not have to worry about the long-term consequences of having the “vaccine” in their bodies since enough data concerning the lack of safety of the “vaccines” have now appeared to demonstrate that, on the balance of risks, the choice not to be “vaccinated” has been vindicated for individuals without comorbidities. What follows is a personal response to Scott, which explains how consideration of the information that was available at the time led one person – me – to decline the “vaccine.” It is not meant to imply that all who accepted the “vaccine” made the wrong decision or, indeed, that everyone who declined it did so for good reasons.  Some people have said that the “vaccine” was created in a hurry. That may or may not be true. Much of the research for mRNA “vaccines” had already been done over many years, and corona-viruses as a class are well understood so it was at least feasible that only a small fraction of the “vaccine” development had been hurried. The much more important point was that the “vaccine” was rolled out without long-term testing. Therefore one of two conditions applied. Either no claim could be made with confidence about the long-term safety of the “vaccine” or there was some amazing scientific argument for a once-in-a-lifetime theoretical certainty concerning the long-term safety of this “vaccine.” The latter would be so extraordinary that it might (for all I know) even be a first in the history of medicine. If that were the case, it would have been all that was being talked about by the scientists; it was not. Therefore, the more obvious, first state of affairs, obtained: nothing could be claimed with confidence about the long-term safety of the “vaccine.” Given, then, that the long-term safety of the “vaccine” was a theoretical crapshoot, the unquantifiable long-term risk of taking it could only be justified by an extremely high certain risk of not taking it. Accordingly, a moral and scientific argument could only be made for its use by those at high risk of severe illness if exposed to COVID. Even the very earliest data immediately showed that I (and the overwhelming majority of the population) was not in the group. The continued insistence on rolling out the “vaccine” to the entire population when the data revealed that those with no comorbidities were at low risk of severe illness or death from COVID was therefore immoral and ascientific on its face. The argument that reduced transmission from the non-vulnerable to the vulnerable as a result of mass “vaccination” could only stand if the long-term safety of the “vaccine” had been established, which it had not. Given the lack of proof of long-term safety, the mass-“vaccination” policy was clearly putting at risk young or healthy lives to save old and unhealthy ones. The policy makers did not even acknowledge this, express any concern about the grave responsibility they were taking on for knowingly putting people at risk, or indicate how they had weighed the risks before reaching their policy positions. Altogether, this was a very strong reason not to trust the policy or the people setting it. At the very least, if the gamble with people’s health and lives represented by the coercive “vaccination” policy had been taken following an adequate cost-benefit benefit, that decision would have been a tough judgment call. Any honest presentation of it would have involved the equivocal language of risk-balancing and the public availability of information about how the risks were weighed and the decision was made. In fact, the language of policy-makers was dishonestly unequivocal and the advice they offered suggested no risk whatsoever of taking the “vaccine.” This advice was simply false (or if you prefer, misleading,) on the evidence of the time inasmuch as it was unqualified. Data that did not support COVID policies were actively and massively suppressed. This raised the bar of sufficient evidence for certainty that the “vaccine” was safe and efficacious. Per the foregoing, the bar was not met.  Simple analyses of even the early available data showed that the establishment was prepared to do much more harm in terms of human rights and spending public resources to prevent a COVID death than any other kind of death. Why this disproportionality? An explanation of this overreaction was required. The kindest guess as to what was driving it was “good-old, honest panic.” But if a policy is being driven by panic, then the bar for going along with it moves up even higher. A less kind guess is that there were undeclared reasons for the policy, in which case, obviously, the “vaccine” could not be trusted.  Fear had clearly generated a health panic and a moral panic, or mass formation psychosis. That brought into play many very strong cognitive biases and natural human tendencies against rationality and proportionality. Evidence of those biases was everywhere; it included the severing of close kin and kith relationships, the ill-treatment of people by others who used to be perfectly decent, the willingness of parents to cause developmental harm to their children, calls for large-scale rights violations that were made by large numbers of citizens of previously free countries without any apparent concern for the horrific implications of those calls, and the straight-faced, even anxious, compliance with policies that should have warranted responses of laughter from psychologically healthy individuals (even if they had been necessary or just helpful). In the grip of such panic or mass formation psychosis the evidential bar for extreme claims (such as the safety and moral necessity of injecting oneself with a form of gene therapy that has not undergone long-term testing) rises yet further. The companies responsible for manufacturing and ultimately profiting from the “vaccination” were given legal immunity. Why would a government do that if it really believed that the “vaccine” was safe and wanted to instill confidence in it? And why would I put something in my body that the government has decided can harm me without my having any legal redress? If the “vaccine”-sceptical were wrong, there would still have been two good reasons not to suppress their data or views. First, we are a liberal democracy that values free speech as a fundamental right and second, their data and arguments could be shown to be fallacious. The fact that the powers-that-be decided to violate our fundamental values and suppress discussion invites the question of “Why?” That was not satisfactorily answered beyond, “It’s easier for them to impose their mandates in a world where people do not dissent:” but that is an argument against compliance, rather than for it. Suppressing information a priori suggests that the information has persuasive force. I distrust anyone who distrusts me to determine which information and arguments are good and which are bad when it is my health that is at stake – especially when the people who are promoting censorship are hypocritically acting against their declared beliefs in informed consent and bodily autonomy. The PCR test was held up as the “gold standard” diagnostic test for COVID. A moment’s reading about how the PCR test works indicates that it is no such thing. Its use for diagnostic purposes is more of an art than a science, to put it kindly. Kary Mullis, who in 1993 won the Nobel Prize in Chemistry for inventing the PCR technique risked his career to say as much when people tried to use it as a diagnostic test for HIV to justify a mass program of pushing experimental anti-retroviral drugs on early AIDS patients, which ultimately killed tens of thousands of people. This raises the question, “How do the people who are generating the data that we saw on the news every night and were being used to justify the mass “vaccination” policy handle the uncertainty around PCR-based diagnoses?” If you don’t have a satisfactory answer to this question, your bar for taking the risk of “vaccination” should once again go up. (On a personal note, to get the answer before making my decision about whether to undergo “vaccination,” I sent exactly this question, via a friend, to an epidemiologist at Johns Hopkins. That epidemiologist, who was personally involved in generating the up-to-date data on the spread of pandemic globally, replied merely that s/he works with the data s/he’s given and does not question its accuracy or means of generation. In other words, the pandemic response was largely based on data generated by processes that were not understood or even questioned by the generators of that data.)  To generalize the last point, a supposedly conclusive claim by someone who demonstrably cannot justify their claim should be discounted. In the case of the COVID pandemic, almost all people who acted as if the “vaccine” was safe and effective had no physical or informational evidence for the claims of safety and efficacy beyond the supposed authority of other people who made them. This includes many medical professionals – a problem that was being raised by some of their number (who, in many cases, were censored on social media and even lost their jobs or licenses). Anyone could read the CDC infographics on mRNA “vaccines” and, without being a scientist, generate obvious “But what if..?” questions that could be asked of experts to check for themselves whether the pushers of the “vaccines” would personally vouch for their safety. For example, the CDC put out an infographic that stated the following. “How does the vaccine work? The mRNA in the vaccine teaches your cells how to make copies of the spike protein. If you are exposed to the real virus later, your body will recognize it and know how to fight it off. After the mRNA delivers the instructions, your cells break it down and get rid of it.” All right. Here are some obvious questions to ask, then. “What happens if the instructions delivered to cells to generate the spike protein are not eliminated from the body as intended? How can we be sure that such a situation will never arise?” If someone cannot answer those questions, and he is in a position of political or medical authority, then he shows himself to be willing to push potentially harmful policies without considering the risks involved. Given all of the above, a serious person at least had to keep an eye out for published safety and efficacy data as the pandemic proceeded. Pfizer’s Six-month Safety and Efficacy Study was notable. The very large number of its authors was remarkable and their summary claim was that the tested vaccine was effective and safe. The data in the paper showed more deaths per head in the “vaccinated” group than “unvaccinated” group. While this difference does not statistically establish that the shot is dangerous or ineffective, the generated data were clearly compatible with (let us put it kindly) the incomplete safety of the “vaccine” – at odds with the front-page summary. (It’s almost as if even professional scientists and clinicians exhibit bias and motivated reasoning when their work becomes politicized.) At the very least, a lay reader could see that the “summary findings” stretched, or at least showed a remarkable lack of curiosity about, the data – especially given what was at stake and the awesome responsibility of getting someone to put something untested inside their body. As time went on, it became very clear that some of the informational claims that had been made to convince people to get “vaccinated,” especially by politicians and media commentators, were false. If those policies had been genuinely justified by the previously claimed “facts,” then determination of the falsity of those “facts” should have resulted in a change in policy or, at the very least, expressions of clarification and regret by people who had previously made those incorrect but pivotal claims. Basic moral and scientific standards demand that individuals put clearly on the record the requisite corrections and retractions of statements that might influence decisions that affect health. If they don’t, they should not be trusted – especially given the huge potential consequences of their informational errors for an increasingly “vaccinated” population. That, however, never happened. If the “vaccine”-pushers had acted in good faith, then in the wake of the publication of new data throughout the pandemic, we would have been hearing (and perhaps even accepting) multiple mea culpas. We heard no such thing from political officials, revealing an almost across-the-board lack of integrity, moral seriousness, or concern with accuracy. The consequently necessary discounting of the claims previously made by officials left no trustworthy case on the pro-lockdown, pro-“vaccine” side at all. To offer some examples of statements that were proven false by data but not explicitly walked back: “You’re not going to get COVID if you get these vaccinations… We are in a pandemic of the unvaccinated.” – Joe Biden; “The vaccines are safe. I promise you…” – Joe Biden; “The vaccines are safe and effective.” – Anthony Fauci. “Our data from the CDC suggest that vaccinated people do not carry the virus, do not get sick – and it’s not just in the clinical trials but it’s also in real world data.” – Dr. Rochelle Walensky. “We have over 100,000 children, which we’ve never had before, in… in serious condition and many on ventilators.” – Justice Sotomayer (during a case to determine legality of Federal “vaccine” mandates)… … and so on and so on. The last one is particularly interesting because it was made by a judge in a Supreme Court case to determine the legality of the federal mandates. Subsequently, the aforementioned Dr. Walensky, head of the CDC, who had previously made a false statement about the efficacy of the “vaccine,” confirmed under questioning that the number of children in hospital was only 3,500 – not 100,000. To make more strongly the point about prior claims and policies’ being contradicted by subsequent findings but not, as a result, being reversed, the same Dr. Walensky, head of the CDC, said, “the overwhelming number of deaths – over 75% – occurred in people that had at least four comorbidities. So really these were people who were unwell to begin with.” That statement so completely undermined the entire justification for the policies of mass-“vaccination” and lockdowns that any intellectually honest person who supported them would at that point have to reassess their position. Whereas the average Joe might well have missed that piece of information from the CDC, it was the government’s own information so the presidential Joe (and his agents) certainly could not have missed it. Where was the sea change in policy to match the sea change in our understanding of the risks associated with COVID, and therefore the cost-benefit balance of the untested (long-term) “vaccine” vs. the risk associated with being infected with COVID? It never came. Clearly, neither the policy positions nor their supposed factual basis could be trusted. What was the new science that explained why, for the first time in history, a “vaccine” would be more effective than natural exposure and consequent immunity? Why the urgency to get a person who has had COVID and now has some immunity to get “vaccinated” after the fact? The overall political and cultural context in which the entire discourse on “vaccination” was being conducted was such that the evidential bar for the safety and efficacy of the “vaccine” was raised yet further while our ability to determine whether that bar had been met was reduced. Any conversation with an “unvaccinated” person (and as an educator and teacher, I was involved in very many), always involved the “unvaccinated” person being put into a defensive posture of having to justify himself to the “vaccine”-supporter as if his position was de facto more harmful than the contrary one. In such a context, accurate determination of facts is almost impossible: moral judgment always inhibits objective empirical analysis. When dispassionate discussion of an issue is impossible because judgment has saturated discourse, drawing conclusions of sufficient accuracy and with sufficient certainty to promote rights violations and the coercion of medical treatment, is next to impossible. Regarding analytics (and Scott’s point about “our” heuristics beating “their” analytics), precision is not accuracy. Indeed, in contexts of great uncertainty and complexity, precision is negatively correlated with accuracy. (A more precise claim is less likely to be correct.) Much of the COVID panic began with modeling. Modeling is dangerous inasmuch as it puts numbers on things; numbers are precise; and precision gives an illusion of accuracy – but under great uncertainty and complexity, model outputs are dominated by the uncertainties on the input variables that have very wide (and unknown) ranges and the multiple assumptions that themselves warrant only low confidence. Therefore, any claimed precision of a model’s output is bogus and the apparent accuracy is only and entirely that – apparent.  We saw the same thing with HIV in the ‘80s and ‘90s. Models at that time determined that up to one-third of the heterosexual population could contract HIV. Oprah Winfrey offered that statistic on one of her shows, alarming a nation. The first industry to know that this was absurdly wide of the mark was the insurance industry when all of the bankruptcies that they were expecting on account of payouts on life insurance policies did not happen. When the reality did not match the outputs of their models, they knew that the assumptions on which those models were based were false – and that the pattern of the disease was very different from what had been declared. For reasons beyond the scope of this article, the falseness of those assumptions could have been determined at the time. Of relevance to us today, however, is the fact that those models helped to create an entire AIDS industry, which pushed experimental antiretroviral drugs on people with HIV no doubt in the sincere belief that the drugs might help them. Those drugs killed hundreds of thousands of people.  (By the way, the man who announced the “discovery” of HIV from the White House – not in a peer-reviewed journal – and then pioneered the huge and deadly reaction to it was the very same Anthony Fauci who has been gracing our television screens over the last few years.) An honest approach to data on COVID and policy development would have driven the urgent development of a system to collect accurate data on COVID infections and the outcomes of COVID patients. Instead, the powers that be did the very opposite, making policy decisions that knowingly reduced the accuracy of collected data in a way that would serve their political purposes. Specifically, they 1) stopped distinguishing between dying of COVID and dying with COVID and 2) incentivized medical institutions to identify deaths as caused by COVID when there was no clinical data to support that conclusion. (This also happened during the aforementioned HIV panic three decades ago.) The dishonesty of the pro-“vaccine” side was revealed by the repeated changes of official definitions of clinical terms like “vaccine” whose (scientific) definitions have been fixed for generations (as they must be if science is to do its work accurately: definitions of scientific terms can change, but only when our understanding of their referents changes). Why was the government changing the meanings of words rather than simply telling the truth using the same words they had been using from the beginning? Their actions in this regard were entirely disingenuous and anti-science. The evidential bar moves up again and our ability to trust the evidence slides down.  In his video (which I mentioned at the top of this article), Scott Adams asked, “How could I have determined that the data that [“vaccine”-sceptics] sent me was the good data?” He did not have to. Those of us who got it right or “won” (to use his word) needed only to accept the data of those who were pushing the “vaccination” mandates. Since they had the greatest interest in the data pointing their way, we could put an upper bound of confidence in their claims by testing those claims against their own data. For someone without comorbidities, that upper bound was still too low to take the risk of “vaccination” given the very low risk of severe harm from contracting COVID-19. In this relation, it is also worth mentioning that under the right contextual conditions, absence of evidence is evidence of absence. Those conditions definitely applied in the pandemic: there was a massive incentive for all of the outlets who were pushing the “vaccine” to provide sufficient evidence to support their unequivocal claims for the vaccine and lockdown policies and to denigrate, as they did, those who disagreed. They simply did not provide that evidence, obviously because it did not exist. Given that they would have provided it if it had existed, the lack of evidence presented was evidence of its absence. For all of the above reasons, I moved from initially considering enrolling in a vaccine trial to doing some open-minded due diligence to becoming COVID-“vaccine”-sceptical. I generally believe in never saying “never” so I was waiting until such time as the questions and issues raised above were answered and resolved. Then, I would be potentially willing to get “vaccinated,” at least in principle. Fortunately, not subjecting oneself to a treatment leaves one with the option to do so in the future. (Since the reverse is not the case, by the way, the option value of “not acting yet” weighs somewhat in favor of the cautious approach.) However, I remember the day when my decision not to take the “vaccine” became a firm one. A conclusive point brought me to deciding that I would not be taking the “vaccine” under prevailing conditions. A few days later, I told my mother on a phone call, “They will have to strap me to a table.”  Whatever the risks associated with a COVID infection on the one hand, and the “vaccine” on the other, the “vaccination” policy enabled massive human rights violations. Those who were “vaccinated” were happy to see the “unvaccinated” have basic freedoms removed (the freedom to speak freely, work, travel, be with loved ones at important moments such as births, deaths, funerals etc.) because their status as “vaccinated” allowed them to accept back as privileges-for-the-“vaccinated” the rights that had been removed from everyone else. Indeed, many people grudgingly admitted that they got “vaccinated” for that very reason, e.g. to keep their job or go out with their friends. For me, that would have been to be complicit in the destruction, by precedent and participation, of the most basic rights on which our peaceful society depends. People have died to secure those rights for me and my compatriots. As a teenager, my Austrian grandfather fled to England from Vienna and promptly joined Churchill’s army to defeat Hitler. Hitler was the man who murdered his father, my great-grandfather, in Dachau for being a Jew. The camps began as a way to quarantine the Jews who were regarded as vectors of disease that had to have their rights removed for the protection of the wider population. In 2020, all I had to do in defense of such rights was to put up with limited travel and being barred from my favorite restaurants, etc., for a few months.  Even if I were some weird statistical outlier such that COVID might hospitalize me despite my age and good health, then so be it: if it were going to take me, I would not let it take my principles and rights in the meanwhile. And what if I were wrong? What if the massive abrogation of rights that was the response of governments around the world to a pandemic with a tiny fatality rate among those who were not “unwell to begin with” (to use the expression of the Director of the CDC) was not going to end in a few months?  What if it were going to go on forever? In that case, the risk to my life from COVID would be nothing next to the risk to all of our lives as we take to the streets in the last, desperate hope of wresting back the most basic freedoms of all from a State that has long forgotten that it legitimately exists only to protect them and, instead, sees them now as inconvenient obstacles to be worked around or even destroyed. Tyler Durden Mon, 02/06/2023 - 00:00.....»»

The governor has been rolling out new proposals nearly every week, including on prescription drugs, taxes, and foreign real estate investments. Florida Gov. Ron DeSantis waves after being sworn in for his second term during an inauguration ceremony at the Old Capitol, Tuesday, January 3, 2023, in Tallahassee, Florida.Lynne Sladky/AP Photo DeSantis has been laying out second-term 'Freedom Blueprint.' It's widely viewed as a policy blueprint for the presidency.  He has already made some of his intentions clear, on areas from Disney to anti-China policy.  Florida Gov. Ron DeSantis rocketed to Republican stardom thanks to his high-profile battles with the Biden administration, the millions he raised from donors, and his policies in Florida. Today, he's the only Republican who polls close to former President Donald Trump in a hypothetical 2024 nomination race for the White House. After handily winning reelection in November, his work in Florida isn't finished. The next few months of proposing and implementing his agenda are widely viewed in political circles as representative of the issues DeSantis plans to run on if he seeks the GOP nomination."I think you have seen that over the last four years when we say we are going to get something done, we get it done," DeSantis said during a press conference on January 12.DeSantis, 44, has an enviable perch for a presidential run in his role as Florida's chief executive, one that includes a supportive GOP supermajority in the legislature that's likely to be deferential to his agenda.More specifics about what the governor has called his "Freedom Blueprint" are expected in the weeks ahead, including when DeSantis delivers his State of the State address ahead of Florida's legislative session that begins in March. In that speech, he'll formally ask state lawmakers for changes to policy and the budget. From cutting taxes to new policies on schools, here's what DeSantis has said so far about what Floridians should expect this year. This story will be updated as more information becomes available.Banning vaccine and mask mandatesDeSantis wants the Florida legislature to permanently ban COVID vaccine and mask mandates. In 2021, the governor used his executive order power to block facilities from requiring people to show proof of vaccination. That same year, the legislature sent DeSantis a bill to prohibit workplaces, K-12 schools, and public colleges from requiring masks or COVID-19 shots. The governor faced criticism at the time, even from some fellow Republicans, who said they thought that individual counties should be free to decide the best public health measures for their residents.It's not clear how much of a difference a new, permanent Florida law would make. Today, many judges have struck down vaccine mandates, and the Supreme Court in 2022 struck down President Joe Biden's vaccinate-or-test mandate for large workplaces.Still, there's some legal wiggle room. On January 17, the Department of Justice asked an appeals panel to reverse a court ruling that said the federal government couldn't mandate masks on public transportation. DeSantis wants to go even further in 2022 by blocking companies from asking potential workers about their vaccination status, or from asking current employees about it and firing them if they refuse to comply, he announced January 17. "You can't fire people based on this personal decision," he said. The new law DeSantis proposed would also allow doctors to speak openly about situations in which they disagree with the medical and scientific consensus — such as questioning the safety of vaccines for children — without worrying about losing their jobs or licenses.Cutting sales taxes on numerous items DeSantis proposed $1.1 billion in tax cuts for his second term. The state has wiggle room on spending because it finished the most recent fiscal year, in June, with a $22 billion surplus.DeSantis will ask the Florida legislature to permanently lift the state's 6% sales tax on baby necessities including on cribs, strollers, clothing, shoes, wipes, and diapers. He also wants the state to nix the sales tax on medical equipment and on medicines for pets. In an apparent dig at the Biden administration, he has asked for a tax exemption on gas stoves, which will cost the state $7 million. Richard Trumka Jr., a commissioner of the Consumer Product Safety Commission, told Bloomberg in January that a gas stove ban was on the table, which ignited backlash among GOP politicians and consumers. Biden doesn't support a ban, White House press secretary Karine Jean-Pierre said.Other tax cuts would be temporary, including lifting the sales tax for a year on children's books, athletic equipment, and toys, as well as a proposal to suspend the sales tax on pet food and on household items that cost $25 or less. The latter would include items such as laundry detergent, paper towels, and toilet paper.  DeSantis billed his proposal as an inflation-fighting measure to provide relief on items such as high grocery prices.But some analysts, such as Howard Gleckman at the Tax Policy Center, have warned that tax breaks could actually worsen inflation because people will spend and consume more at a time when supplies are limited. Florida currently is facing a housing affordability crisis in part due to the influx of out-of-staters with higher incomes who moved there. Florida Gov. Ron DeSantis addresses a joint session of a legislative session, Tuesday, Jan. 11, 2022, in Tallahassee, Florida.Phelan M. Ebenhack/AP PhotoBanning China from buying Florida farmland and residencesDeSantis is poised to ask state lawmakers to ban China from buying farmland and residences in Florida, the governor confirmed in January. "We don't want to have holdings by hostile nations," the governor said. "And so if you look at the Chinese Communist Party, they've been very active throughout the Western Hemisphere in gobbling up land and investing in different things." DeSantis said the actual structure of the policy was still being discussed so that his team could devise how to determine whether the Chinese government was behind a real estate investment.While foreign policy generally tends to be a small part of a governor's role, such actions on China could add to DeSantis' foreign policy portfolio — which will be key should he seek the White House. Cracking down on teachers' unions DeSantis wants to make it harder for teachers to enroll and stay in Unions. Under a plan rolled out in December, teachers who work in Florida would have to send a check to their unions every month rather than automatically deduct the dues from their paychecks.Teachers' unions have been one of the governor's top foes, particularly starting in the fall of 2020 after they resisted his push to reopen schools during the pandemic, and after DeSantis banned mask mandates in the classroom.DeSantis also plans to raise teacher pay by record amounts, an increase of $200 million to $1 billion, though he hasn't specified how he would ensure it would also extend to teachers with more experience. Elsewhere in the state government he wants to raise state employee pay by 5% and increase pay for correctional officers to $23 an hour. Overhauling higher educationDeSantis' budget, which he calls the "Framework for Freedom" would block state universities from using funding to support diversity, equity, and inclusion initiatives or those deemed by the state to constitute "critical race theory." Colleges leaders would also be allowed to review faculty after they've attained tenure. The budget also asks for $15 million to turn the New College of Florida in Sarasota from a liberal to a conservative-leaning institution. Some of the money would go toward hiring new faculty. DeSantis during a press conference at the end of January accused higher education institutions of being focused on "ideological conformity" and "political activism" rather than to "promote academic excellence."In response, the ACLU of Florida accused DeSantis on Twitter of trying to "restrict free speech and erase the history and legacy of discrimination in America." More funding for elections police and shipping migrants to other states DeSantis wants to add $3.1 million to the Office of Election Crimes and Security, an office he created in 2022 to investigate allegations of voter fraud. The funding would help create another 27 positions for the office. DeSantis announced last year that the office arrested 20 people for voter fraud, though several had the charges dropped. In all, 11 million who voted in Florida during the 2020 election. On immigration, DeSantis plans to continue sending migrants to other states, his budget indicates. He has asked the legislature for $12 million to relocate people who are living in Florida illegally. Last year, however, he relocated migrants not from Florida but out of Texas to the wealthy enclave of Martha's Vineyard, Massachusetts. Florida Governor Ron DeSantis speaks before then-President Donald Trump signs executive orders on prescription drug prices in the South Court Auditorium at the White House on July 24, 2020 in Washington, DC. President Trump signed a series of four executive orders aimed at lowering prices that for prescription drugs in the United States.Drew Angerer/Getty ImagesIncreasing transparency on prescription drug prices The governor released a detailed proposal in January to lower prescription drug prices, with actions that mostly focus on price transparency.It would require pharmacy middlemen — known as Pharmacy Benefit Managers — to disclose more aspects of their businesses, such as complaints they've received, and would obligate prescription drug companies to disclose their price increases publicly, and explain the reasons for these increase. DeSantis made his announcement one day after the Biden administration released key dates for a new program that will for the first time let Medicare negotiate prices of some of the most expensive medicines. The method is used in countries with similar economies, who pay far less for their medicines than Americans do. Loosening gun restrictions DeSantis wants lawmakers to pass legislation that would change Florida law so that gun owners could carry a gun in public without a concealed weapons permit.Under current law, Floridians don't have to have a permit to buy or own a gun, but firearm owners must have a permit when they're in public. The legislation, were it to pass, would come just a few years after the mass shooting at Stoneman Douglas High School in Parkland, Florida, and at the Pulse Nightclub in Orlando. Making it easier for convicted criminals to get the death penaltyDeSantis wants a supermajority in a jury to be able to decide whether to invoke the death penalty against a defendant. Currently, state law requires a vote be unanimous.The decision comes after one juror disagreed with the death penalty in the case of the convicted Parkland murderer. He received a life sentence in prison. DeSantis also wants people convicted of raping children to serve life in prison and for the legislature to explore "options to make them eligible for the death penalty." Under his proposal, penalties would also increase for attempted sexual battery. Florida Gov. Ron DeSantis got married at Disney World in 2009.Joe Raedle/Getty Images and AaronP/Bauer-Griffin/GC ImagesFinalizing changes to Disney's tax district DeSantis signed a bill into law last year stripping Walt Disney World of its self-governing status, but it won't take effect until June of this year, and parts of the bill still need to be resolved so that Orlando, Florida, residents don't see tax hikes. DeSantis is pushing for a measure that would replace Disney's special self-governing power with a governor-appointed, state-run board, Fox News first reported. It would also have Disney pay $700 million dollars toward its debt.The legislature is expected to hold a special session over the issue beginning in February. Areas of uncertainty remain DeSantis is expected to continue to chip away at abortion rights. He signed a bill into law last year that makes it illegal to have an abortion after 15 weeks into a pregnancy, even in cases of rape or incest.So far, he has sidestepped questions about going further, saying only that he would "expand pro-life protections." The threat of abortion bans proved to be a major liability for Republicans during the 2022 midterms. DeSantis is also expected to build off his Parental Rights in Education Act, the controversial legislation that critics call "Don't Say Gay." The law bans teachers from discussing gender identity and sexual orientation in classrooms through third grade, though it has nebulous language that could apply to higher grades. DeSantis has made it clear he intends to go further, but hasn't delivered specifics yet. "We must ensure school systems are responsive to parents and to students, not partisan interest groups," he said on his January 3 inauguration.Editor's note: A previous version of this story published January 13, 2023. It has been updated on January 17, 2023, and on February 2, 2023, with new information about Florida Gov. Ron DeSantis' agenda. Read the original article on Business Insider.....»»

The $5 million Thinx deal over allegations about its menstrual underwear shows what it takes to battle a company in court and what it means to win. The Thinx settlement demonstrates how customers can seek legal recourse over a product.Thinx Thinx customers can now seek recoveries as part of a settlement by the period underwear brand. Consumer brands like P&G and Unilever have also paid out millions of dollars to settle lawsuits. Customers seeking vindication in court must deliver evidence and be strategic, lawyers said. Thinx just agreed to pay up to $5 million to settle a class-action lawsuit claiming the Instagram-famous menstrual underwear contained harmful chemicals. The news may have some customers wondering: Can I, too, recoup money spent on a product that let me down?The Thinx deal will repay customers for some purchases. But it doesn't offer payouts for health issues or medical costs potentially linked to exposure to PFAS, the class of harmful "forever chemicals" that the lawsuit alleged was found in Thinx underwear. Thinx has denied the lawsuit's claims, and said it settled the suit without admitting any fault. "We take customer health and product safety seriously. We can confirm that PFAS have never been part of our product design," Felicia Macdonald, a representative for Thinx, said in a statement. "We will continue to take measures to help ensure that PFAS are not added to our products."The Thinx case highlights a common pattern in high-profile lawsuits over beauty and consumer products: customers may cite reports of bad experiences using a product, but not necessarily make those a pillar of their case. Instead, they emphasize that the company's marketing and public statements misled them and allege that it violated state consumer protection laws. Winning cases like this don't often yield huge payouts on a per-customer basis. Instead, these cases — which can take years — may recoup only a portion of customers' spending on the products in question. But plaintiffs lawyers said these types of lawsuits can also trigger other changes."We can make big changes to products and messaging the consumers receive, which allows consumers to make better, more informed decisions," said Erin Ruben of Milberg Coleman Bryson Phillips Grossman, an attorney representing plaintiffs who sued Thinx. "That's why we do what we do."  The Thinx settlement includes a $4 million pot to pay customers and legal fees, and as much as another $1 million for any required "valid claims," according to the settlement. Customers could get reimbursed for up to three pairs of Thinx underwear, or get a discount of up to $52.50 on a new order, according to the settlement website. The brand also agreed to use quality control processes to make sure that PFAS chemicals aren't "intentionally added" to its products.In a separate case last July, Procter & Gamble Co. agreed to resolve class claims that the company's brands like Secret and Old Spice didn't warn that their spray deodorant contained the toxic chemical benzene. P&G said in 2021 that it recalled the spray products at issue, citing an "abundance of caution." It also said in its settlement notice that it "denies that any of the allegations are true and that it did anything wrong."The settlement included $8 million to eligible customers who wanted refunds, with a per-household cap of up to $10.50, according to filings in the case.  Personal injury claims can be hard to proveIn some cases, customers have won settlements covering alleged health problems, by making what are called personal injury claims. These claims can yield higher payouts, but are generally harder to prove — especially among a large class of plaintiffs. In 2021, the curly hair shampoo brand Devacurl agreed to a $5.2 million settlement that included two categories of recoveries: $20 per customer to resolve claims related to how the brand advertised the safety of its hair care products, and as much as $19,000 for individuals who could show proof supporting claims that the products hurt them. In that case, customers said Devacurl's curly hair products contained ingredients that released formaldehyde and caused skin irritation, and said the company had quietly changed ingredients and formed a committee to handle negative publicity. Devacurl has said on its settlement website that it "vigorously denies" claims of health problems like hair loss and scalp problems. The settlement site also states that the litigation never proved anything — only that "the costs and uncertainty" of a prolonged court case incentivized settling. But the case shows how suits can sometimes leverage detailed allegations about what customers claimed were the offending ingredients, the volume of complaints, and how the company allegedly responded. In 2014, Unilever agreed to provide $10.3 million to settle customers' allegations that its Suave Professionals Keratin kit product contained an ingredient that could injure the scalp. Unilever agreed to the settlement while "denying wrongdoing of any nature and without admitting liability," according to the settlement agreement. That settlement provided options including a $10 refund for eligible customers, and payments for people who alleged the product caused them injuries, according to court filings in the case. Plaintiffs lawyers may test products for harmful ingredientsIn many cases concerning consumer products, plaintiffs lawyers may enlist a third party to test the items for any proof that they contain a harmful ingredient, attorneys said. "It helps to have evidence that the chemical is in the product through independent testing, or news reporting," said R. Jason Richards, an attorney at Aylstock Witkin Kreis & Overholtz. Richards said his firm has tested products like sunscreens before bringing lawsuits over them.Beauty products generally aren't as closely regulated as items like medical drugs and devices. The Food and Drug Administration, which oversees cosmetics in addition to pharmaceuticals, requires items like makeup and shampoo to be safe, and to be labeled correctly for how they're used. But, unlike with medical drugs and devices, the agency doesn't have to pre-approve cosmetics before they're sold, and it doesn't impose the same manufacturing practice regulations — leaving those safety and quality assessments up to companies. "From a basic consumer protection standpoint, most companies will do some type of testing before releasing the product to make sure it's safe," said Allison Fulton, a partner at Sheppard Mullin who advises companies on complying with FDA rules. "It just doesn't have to submit that data to the FDA," she said.  For customers worried about whether they're experiencing health problems from a product and seeing other similar complaints percolating in message boards, calling an attorney can be a good first step, said Diandra Debrosse Zimmermann, a partner at DiCello Levitt who represents plaintiffs in a range of suits, including issues arising from products. "If you think it's a significant issue, look online: are other people complaining? Reach out to the right lawyer," she said. Read the original article on Business Insider.....»»

We rounded up 79 unique, thoughtful, and romantic gifts to give your girlfriend, from keepsake jewelry to useful tech and fitness accessories. When you buy through our links, Insider may earn an affiliate commission. Learn more.Urban Outfitters/CatbirdWhether it's for her birthday, Valentine's Day, or just because, your girlfriend deserves a great gift. You can take a lot of different routes: A stylish accessory she'll wear all the time, a practical gift she doesn't know she needs, a romantic trinket she'll treasure for years to come…the list goes on.Whatever your budget and the occasion, we've come up with 79 gifts that any type of girlfriend is sure to appreciate. From a luxurious blanket for the homebody to a great pair of headphones for the audiophile, the ideas below run the gamut.An affordable luxury watchBredaBreda Esther Square Metal WatchBreda makes luxury watches that are usually just under or slightly over the $200 price range, and we love how they look for the price. This model comes in an 18K gold-plated case and stainless steel band.A hot sauce subscriptionFuego BoxFuego Box SubscriptionSpice things up with this hot sauce subscription, which delivers one or three hot sauces to your girlfriend's door every month. There's even an extra-hot version if her heat tolerance is off the charts.A fancy candleOtherlandOtherland CandleOtherland makes some of our favorite luxury candles, and for $36 a pop, they offer unique scent combos in a really beautiful, reusable container. You can also mix-and-match your own gift sets or shop exclusive collections.A customizable leather tote she'll use for yearsCuyanaCuyana System ToteShe'll happily replace her canvas tote for this sleek, sturdy leather one from Cuyana. It comes in a few neutral shades and can be customized with a crossbody strap or matching laptop case.A mug that always stays warmEmberEmber Mug 2If your girlfriend takes forever to sip their tea or coffee, get them this ingenious mug that keeps their beverage for as long as it takes for them to drink it all. It's also app-controlled, so they can use their phone to find the right temperature and presets.An annual pass to see US National ParksREIAmerica the Beautiful Pass 2023/2024If your girlfriend loves experiential gifts, look no further than this annual pass to most of the US National Parks. It accommodates a car of up to four people, so you can plan a trip with friends or family, too.More modern cocktail glassesAnthropologieAnthropologie Ramona Coupe Glasses (Set of 4)For the girlfriend who loves hosting, get them these modern coupe glasses they'll get compliments on every time they have people over (which will be a lot more often now).An instant camera she can also use with BluetoothAmazonPolaroid OneStep+ White (9015) Bluetooth Connected Instant Film CameraFor the girlfriend who loves snapping pics, give her the option of either using the camera or connecting her phone and directly printing from her camera roll. It also comes with two lenses — standard and portrait — so she'll never miss her shot.UGG-like boots for half the priceQuinceQuince Australian Shearling Mini BootsUGG-style boots have been making a comeback, and these mini boots offer the same warmth, quality, and style for a fraction of the price of real UGGs.A dainty nameplate necklaceCatbirdCatbird Tiniest Name NecklaceNameplate necklaces consistently stay in style, so this piece is bound to become an everyday staple. You can pick her name, nickname, or even just a place she loves.A quirky planterAnthropologieAnthropologie Grecian Bust PotIf you got them new flowers, why not pair with a fun thing to hold them in? This Grecian bust pot is the perfect quirky (yet still elegant) touch for their home.A board game version of WordleThe popular online puzzle Wordle is being reimagined as a board game.Hasbro/The New York TimesWordle: The Party GameIf your girlfriend sends you her Wordle score every day, she'll be thrilled with the physical board game version. You can play against each other or have up to four people racing against the clock to guess the word first.A bestselling lip maskAmazonLaneige Lip Sleeping MaskIf your partner always complains of chapped lips (especially in the winter), this bestselling lip mask is a great, low-key gift that will leave their lips feeling smooth and nourished come morning. A card game to deepen personal connectionsUrban OutfittersWe're Not Really Strangers Card GameThis card game, from the popular Instagram account We're Not Really Strangers, is designed to enhance connections between people with different levels: perceptions, connection, and reflection. Not only is it a card game you haven't played before, but it's also a thoughtful activity you can enjoy with your girlfriend.A cookbook for movie night dinnersUncommon Goods"Eat What You Watch Cookbook" by Andrew ReaDinner and a movie: a classic pairing. Inspire future date nights with the "Eat What You Watch Cookbook." It has 41 as-seen-on-the-big-screen recipes — think hazelnut gelato from "Roman Holiday" and double-decker New York-style pizza inspired by "Saturday Night Fever" that you can prepare together for movie night.A customized map of her favorite placeGrafomapGrafomap Custom MapGrafomap lets you design custom maps of anywhere in the world — like the first place you met, the best trip you ever took together, or the hometown she couldn't wait to show you. It's unique, thoughtful, and pretty inexpensive.  You can find our full review here.A pack of highly-rated sheet masksAmazonDermal Sheet Mask Set (39-Pack)Grab 39 sheet masks to make it easier for your girlfriend to have a frequent and well-deserved "treat yourself" day. These are highly rated and have both vitamin E and collagen included for healthy, happy skin.   Silky, breathable leggingsEverlaneEverlane Perform LeggingsEverlane's Perform Leggings are some of our all-time favorites — they're breathable and silky, like a slightly less expensive version of Alo leggings. You can read a full review of the Everlane Perform Leggings and see pictures of them here.A sweet keepsake bookUncommon GoodsKnock Knock "What I Love About You by Me" BookIf your girlfriend has a sentimental side, this fill-in-the-blank book will make her melt. It's filled with over 110 pages of prompts where you can share all of the special, silly things you love about her. A large print of a favorite memoryArtifact UprisingArtifact Uprising Large Format PrintsArtifact Uprising makes luxury prints at accessible prices — and they make especially thoughtful gifts that look like they should cost much more. Get one of their favorite photos printed on archival fine art paper for $20 and up, or thoughtful cards for as little as $1.45 per custom card. You can also make a color series photo book for $22, a set of prints for $9, and a personalized calendar on a handcrafted wood clipboard for $30.A hair towel that reduces damage and cuts drying time by 50%AquisAquis Rapid Dry Lisse Hair TowelAquis' cult-favorite hair towels can cut the amount of time it takes for her hair to dry in half — a claim we're happy to report holds up. The proprietary fabric also means there's less damage to wet hair while it dries. A pass to get into a bunch of boutique fitness classesClasspassClassPass Gift CardBoutique fitness classes are expensive, which can make trying new workouts — either for variety or to figure out what we like — less appealing. ClassPass solves both issues. It's relatively affordable, and members can access a neverending catalog of great workouts with small class sizes. If your partner is getting back into fitness after over a year of at-home workouts, we'd highly recommend a gift card here for whenever they're ready to use it.A lamp that melts candles without lighting themCrystal Cox/Insiderluzdiosa Candle Warmer LampAside from looking cute, this TikTok-famous lamp warms candles up without lighting them. It helps your girlfriend enjoy her candles' scents whenever she wants without worrying about smoke or accidentally forgetting to put them out.An expertly designed plannerCrystal Cox/InsiderBestSelf Co. Self JournalThe Self Journal is an undated, 13-week planner that's designed for daily use and quarterly planning. It helps its owner break projects and goals into manageable chunks. We love it.If she's working towards a big goal, this could be a really thoughtful resource — especially if it's the kind of goal you can't help her achieve otherwise.Delicious sweets from a famous NYC bakeryMilk BarMilk Bar TreatsIf your girlfriend has a sweet tooth, send her Milk Bar — the company delivers its iconic and decadent cakes, cookies, and truffles to her doorstep.A soothing bath salt setMaudeMaude Tub Kit No. 3If you love your girlfriend but hate to see her burn out, you can treat her to this luxe bath set, which comes with two types of soaking salts and a coconut milk bath. You can choose from three different scent profiles — this one has notes of eucalyptus, sandalwood, cassis, and Haitian vetiver.The internet's favorite olive oilBrightlandBrightland Awake Olive OilBrightland's olive oils make great gifts for cooks and anyone else who loves to entertain. The white bottles protect the EVOO from light damage and look nice displayed on a countertop. Find a full review here. A framed keepsake of a favorite memoryFramebridgeFramebridge Framed Photo Framebridge makes custom framing a bit more affordable. You can print or paint something on your own and have it framed, or have them print and frame it, and you can take advantage of the team of designers for help deciding what frame to get. The best socks she'll ever wearBombasBombas Women's Performance Running Ankle Sock 3-PackBombas makes the best socks we've ever tried, and they're a gift we find ourselves giving every year to loved ones. They're lightweight, moisture-wicking, and built to circumvent annoyances like uncomfortable seams and heel slipping.A stunning puzzle that doubles as decorPiecework PuzzlesPiecework Puzzles Garden Party PuzzlePiecework makes beautiful puzzles out of vibrant, creative photos — so much so that when you're finally done with them, your girlfriend will probably want to glue it all together and hang it up.A 215-piece art kit for creative projectsAmazonArt 101 215-Piece Wood Art SetIf your girlfriend loves to create art, this 215-Piece art kit includes everything she'll need for projects: Crayons, colored pencils, oil pastels, fine line markers, watercolor cakes, and acrylic paint.Her favorite specialty food straight from the sourceGoldbelly/InstagramGolbelly Restaurant Meal KitsGoldbelly makes it possible to satisfy your girlfriend's most specific and nostalgic cravings no matter where they live in the US — a cheesecake from Junior's, deep dish pizza from Lou Malnati, and more. Browse the iconic gifts section for inspiration. A weighted blanket for better restAmazonYnM Weighted BlanketWeighted blankets help create more restful sleep by "grounding" the body, and YnM makes some of the most popular and affordable weighted blankets on the internet. There are multiple sizes and weights for the ideal fit and width (they recommend picking whichever is about 10% of your body weight), and the segmented design allows you to move around without displacing all the weighted beads inside. A mug for hot and cold drinksHydro FlaskHydro Flask 12 oz. Coffee MugThis mug is a common desk companion for the Insider Reviews team. The 12-ounce coffee mug has the company's proprietary TempShield insulation that made its water bottles famous. This mug will keep hot drinks hot for up to six hours, and cold drinks cold up to 24 hours. Read our full review of it here.Fun, matching underwearMeUndiesMeUndies Matching SetGet yourself and your girlfriend festive matching underwear — which also happen to be some of the most comfortable pairs we've ever found. MeUndies gives you the option to create your own personalized set — two styles listed for women, two styles listed for men, a mix, and whichever length or cut you and your partner prefer. Personalized cartoon couple mugsUncommon GoodsUncommon Goods Personalized Family MugsThese cute mugs can be personalized for what you're like as a couple, making for a special weekend morning coffee routine or just a nice reminder in the kitchen cabinet. On the back, you can add a family name and the year the couple was established if you'd like. A satin-lined beanieAndrea Bossi/InsiderKink and Coil Satin-Lined Beanie with Removable PompomMost people with naturally curly hair avoid wearing hats to reduce frizz, but Kink and Coil's satin-lined beanie solves that issue. Just like a silk pillowcase or a bonnet, the inside of the beanie is designed to protect your hair from frizz and damage. On top of that, the pom-pom can be removed, if she'd prefer to wear the hat without it.We spoke with a trichologist to learn more about how satin- and silk-lined beanies can benefit anyone with curly or high-porosity hair. A monthly book subscriptionBook of the Month/InstagramBook of the Month 3-Month MembershipIf she's a bookworm, Book of the Month is an especially thoughtful and unique gift — it's a book club that has been around since 1926, and it's credited with discovering some of the most beloved books of all time ("Gone with the Wind" and "Catcher in the Rye" to name a couple). If you gift her a subscription, she'll receive a hardcover book delivered to her door once a month. Books are selected by a team of experts and celebrity guest judges.A stylish leather makeup pouchDagne DoverDagne Dover Hunter Toiletry BagDagne Dover is quickly becoming one of the best women's handbag companies to know, and its toiletry pouches are a great and relatively affordable gift. The small size holds a handful of go-to toiletries, and the large should have enough space for all of the grooming essentials.The fuzziest, comfiest throw blanketAnthropologieAnthropologie Sophie Faux Fur Throw BlanketWith colder weather coming up, your partner will get a lot of good use out of this ultra warm, fuzzy blanket. It's perfect for those nights spent curled up on the couch watching movies together.A custom phone case of her petWest & WillowWest & Willow Custom Pet Portrait Phone CaseIf your girlfriend loves her dog or cat more than anything, this sleek custom portrait of their pet printed on an iPhone case will absolutely floor them. It's perfect for anyone who wants any excuse to look at their furry friend even more.A pasta maker you can use togetherWilliams SonomaImperia Pasta MachineBring the pasta maker and the fixings to make a delicious meal together. It's relatively easy to get the hang of, and you can enjoy quality time with the bonus of incredible ravioli or fettuccine on the other end of it. A custom birth chart bookBirthdate Co.Birthdate Co. Birthdate BookIf your girlfriend happens to be extremely into astrology (like, consistently asks for your exact time and location of birth so she can compare charts), surprise her with this thorough birth chart book. It comes bound in a hardcover book with beautiful illustrations that tell her zodiac story. The only caveat is you'll need to know when and where she was born, so you might need to sneakily text some friends and family first!An 8-in-1 pan that helps declutter her homeOur PlaceOur Place Always PanThe Always Pan from startup Our Place is a frying pan, saute pan, steamer, skillet, saucier, saucepan, non-stick pan, spatula, and spoon rest in the space of a single pan. In other words, a clever generalist that's extremely convenient for small spaces or minimalist cooks. You can read our review here.A beautiful bouquetUrban StemsUrban Stems BouquetSend flowers to her doorstep. We're fans of UrbanStems; Its bouquets are one of the best things we've ever tested. If you're looking for something that won't be gone after a couple of weeks, you'll also find options for potted plants and low-maintenance, decor-friendly dried bouquets.An elaborate charcuterie boardUncommon GoodsCompact Swivel Cheese & Tapas BoardFor the girlfriend who loves entertaining, help them live their biggest hosting dreams with this cheese and charcuterie board. With fold-out sections and cheese knives included, it has everything to create a truly stellar spread. Plus, for an added $10, you can get it personalized.A versatile exercise dressOutdoor VoicesOutdoor Voices The Exercise DressGiven the popularity of the Exercise Dress, we wouldn't be surprised if this was on your girlfriend's wish list. The Exercise Dress is comfortable, versatile, and cute — which has made it a cult-favorite item. If she's a fan of dresses, Outdoor Voices, or clothes she can wear all day long, this may be a good option. A tea subscriptionAtlas Tea ClubAtlas Tea Club SubscriptionThis subscription sends your girlfriend single-origin teas from the best tea-growing regions in the world for six months. She'll get two delicious options sent to her home each month.A bottle of Glossier perfumeGlossierGlossier You PerfumeGift your girl another opportunity to indulge in her personal beauty with this unique perfume. It has notes of pink pepper, woodsy ambrette seeds, and fresh iris — but also produces a scent unique to the wearer, making it the ultimate personal fragrance.A Dutch oven to elevate their bread gameLodgeLodge Enameled Cast Iron Dutch OvenDid your girlfriend get into baking bread and, miraculously, stay committed to it? If so, a really nice Dutch oven can help elevate her experience. You can get something great for under $100, or you can splurge on a beautiful Le Creuset. Other meaningful upgrades include a cooling rack, according to the famous baker Apollonia Poilâne.A gift card to a popular wine subscription clubWincWinc Gift SubscriptionWinc is a personalized wine club — and we think it's the best one you can belong to overall. Members take a wine palate profile quiz and then choose from the personalized wine suggestions. Each bottle has extensive tasting notes and serving recommendations online, and makes it easy to discover similar bottles. Gift her a Winc gift card, and she can take a wine palate profile quiz and get started with her own customized suggestions. A video message from someone she lovesCameoCameo Video MessageWhether it's your girlfriend's favorite actor, comedian, or athlete, you're likely to find someone she admires on Cameo. Cameo allows celebrities to send custom video messages to recipients for nearly any occasion, and a personalized video is a gift that she'll never forget. Note: While Cameo prices really range, many of the popular celebs cost over $50.A sleek fitness tracker with heart rate monitoringFitbitFitbit Inspire 2Fitbit's affordable Inspire 2 tracker has no shortage of useful features to keep someone informed about their physical activity — tracking calorie burn, resting heart rate, and heart rate zones.The comfiest sneakersAllbirdsAllbirds Women's Wool RunnersThe classic Wool Runners make a great gift for the uninitiated, though we'd also highly recommend the brand's casual cup sole Wool Piper for everyday wear if that's more your partner's style. You can find our full review of the Runners here, and the Wool Pipers here.A monogrammed jewelry caseCuyanaCuyana Leather Jewelry CaseKeeping track of tiny and delicate jewelry is difficult — but jewelry cases are a pretty and useful solution. This is a thoughtful and personalized gift, especially if you've gotten your girlfriend jewelry in the past, or plan to in the future. It's made from premium leather, comes in many colors, and can be monogrammed with her initials. Cuyana is a cool leather bag startup she may have already heard of. A small skincare tool that packs a lot of punchAmazonForeo Luna Play Plus 2In the category of things your girlfriend may love but hasn't asked for yet: Foreo facial brushes. Our team swears by these gentle yet effective cleansing devices. They have hygienic silicone bristles and come in five different models for different skin types. The Luna is small enough to bring on the go, so your partner can maintain their skincare routine while traveling. A dainty custom ringCatbirdCatbird Bittersweets NY Famous Letter RingThis delicate band looks beautiful worn on its own or stacked with the rest of their ring collection. Choose from yellow gold, white gold, or rose gold, a matte or shiny finish, and then add the final touch: A custom engraving of up to 11 letters. A trendy crossbody for her phoneBandolierBandolier Kimberly Leather CrossbodyIf they hate carrying a bulky bag just to store their phone and wallet, this stylish crossbody case was invented for them. It accommodates a wide range of smartphones and features card slots and a snap pocket to keep their essentials all in one tiny, easy-to-access place.A planned trip for the two of you to take togetherAirbnbAirbnb Gift CardIf you want to gift an experience you and your girlfriend can enjoy together, grab a card, a gift card to Airbnb, and come up with a few location ideas to choose from. You can also book a hotel in your city on Booking.com or Expedia for a sweet staycation.A comfy loungewear set she can wear anywhereSpanxThis set made Oprah's Favorite Things list in 2022, but before that, it made our list of cool, useful products we tested or purchased recently. Our executive editor, Sally Kaplan, says this is one of the comfiest, softest, most flattering sets she's ever worn. The material is lightweight and buttery, not too hot but not too light.The pants are available in petite, regular, and tall sizes, and each set comes in a few neutral colors.  The sweatshirts come in a few different styles — cropped pullover, regular pullover, and half-zip — and if the wide leg pant isn't the right style for your gift recipient, you can also buy a tapered jogger-style pant in the same material for $110.A stylish vinyl playerUrban OutfittersCrosley UO Exclusive Checkered Ryder TurntablePart of a collab between Urban Outfitters and Crosley, this vinyl player features a checkerboard design, is easily portable, and can also stream music via Bluetooth.Earrings made with her birthstoneMejuriMejuri Amethyst Flat Sphere StudsIf your girlfriend wears jewelry, birthstone earrings that she can keep forever are a thoughtful, personalized gift she'll wear often.  A great foam rollerCrystal Cox/InsiderTB12 Vibrating Pliability RollerIf your girlfriend is very physically active, a foam roller is a nice gift to aid in her workout recovery and soreness. This one is our favorite because it has four levels of vibration, a pattern that targets muscle groups, and a durable exterior. But, if your budget doesn't fit a $160 foam roller, never fear — we like some under-$50 options too. A comfy zip-up for the months aheadPatagoniaPatagonia Women's Better SweaterPatagonia makes our favorite athleisure options overall, and that definitely includes the Better Sweater. It works in pretty much any environment — in the office, at home, on a hike, or on a casual night out — and has zippered pockets to keep hands warm in the cold months. We're also big fans of the 1/4 Zip option.A waterproof Kindle for reading anywhereAmazonAmazon Kindle PaperwhiteIf your girlfriend is a reader, we'd suggest looking at Amazon's Kindle Paperwhite; it's the company's thinnest and lightest yet, with double the storage. Perhaps the best features are that it's waterproof and has a built-in adjustable light for the perfect reading environment indoors or outdoors, day or night. If she loves a nice, relaxing bath, pair this with a caddy, bath bombs, and a glass of wine for a relaxing night in that you've already taken care of.  A houseplant that arrives already pottedLeon & GeorgeLeon & George Silver EvergreenLeon & George is a San Francisco startup that will send beautiful plants — potted in stylish, minimalist pots — to your girlfriend's door. All she has to do is to occasionally add water. Flowers are wonderful, but houseplants have a much longer shelf life, and most of Leon & George's options are very easy to care for. We'd also recommend checking out Bloomscape for small plant trios under $70.  A cashmere crewEverlaneEverlane The Cashmere CrewFor a closet staple she'll own for years to come, Everlane's $120 Cashmere Crew (available in various colors) is about the safest choice you can make. Everlane has plenty of great gifts (you can find the Everlane basics we wear repeatedly here), so you can't really go wrong. The best bathrobe money can buyParachuteParachute Classic Turkish Cotton RobeWe think the Parachute Classic Turkish Cotton Robe is the best robe on the market. It's soft, fluffy, and absorbent like a towel. It's also got nice deep pockets and a secure waist tie.A high-tech yoga towel prevents slippingMandukaManduka Yogitoes Yoga Mat TowelManduka is known for making the best yoga products, and their Yogitoes towel is one of the most loved. It has tiny 100% silicone nubs on one side that grab yoga mats and keep yogis from slipping around during the exercise. Having a good towel can make a big difference. It also comes in 19 great colors and gets eco-friendly points. Each Yogitoes towel is made from eight recycled plastic water bottles, and made with dyes free of azo, lead, or heavy metal. A new pair of comfy BirkenstocksNordstromBirkenstock Women's Arizona Slide SandalIf your girlfriend wears the unbelievably comfortable Birkenstocks most days, she might appreciate a new, unblemished pair. They're also in style. Apple AirPods Pro for when she's on the moveCrystal Cox/Business InsiderApple AirPods Pro (2nd Gen)We love Apple's AirPods Pro for Apple users. They're no-hassle, work with Apple products, have decent sound and noise cancellation, are water-resistant, have a wireless charging case, and feel more comfortable than standard AirPods. You'll find more wireless earbuds we love here.A convertible work and travel bag to keep her organizedCaraa SportCaraa Studio Tote (Medium)Caraa Sport makes some of the most functional and best-looking gym bags on the market. This one can transition from a tote to a backpack by adding straps. It also has a hidden shoe compartment and a waterproof and antimicrobial lining. You can read our full review of this bag here.A small, portable movie projectorAmazonAnker Nebula CapsuleThis is one of the most portable (and affordable) projectors. It's about the size of a soda can, weighs one pound, and has crisp image quality and 360° sound. Use it at home or bring it with you on your travels. Find a full review of the Anker Nebula Capsule here. Comfy, high-end sheetsBrooklinenBrooklinen Luxe Hardcore Sheet BundleBrooklinen is one of our favorite companies, point-blank. We think they make the best high-end sheets at the best price on the market, and most of the Insider Reviews team uses Brooklinen on their own beds.The Luxe Hardcore Sheet Bundle comes in plenty of colors and patterns, and you can mix and match them to suit your taste. Grab a gift card if you want to give her more freedom. If you opt for a sheet bundle, she'll receive a core sheet set (fitted, flat, two pillowcases), duvet cover, and two extra pillowcases in a soft, smooth 480-thread-count weave.A pair of beautiful pearl earringsStone and StrandStone and Strand Elliptical Pearl HuggiesPearls are timeless, but they're also one of the jewelry trends we're keeping an eye on. This pair, from the women-led startup Stone and Strand, is made with 14K gold with freshwater pearls.The best noise-canceling headphonesAmazonSony WH-1000XM4 HeadphonesIf your girlfriend is into music, the best gift is the one that improves her everyday music-listening experience. For that, we recommend our favorite noise-canceling headphones — Sony's WH-1000XM4 — that balance sound quality, noise cancellation, and comfort at a solid price.You can find more good noise-canceling headphone options here.A stylish carry-on with an external battery packAwayAway The Carry-OnAway's hyper-popular suitcases deserve their hype. Their hard shell is lightweight but durable, their 360° spinner wheels make for seamless traveling, and the external (and ejectable and TSA-compliant) battery pack included can charge a smartphone five times over so she never has to sit behind a trash can at the airport for access to an outlet again. It's also guaranteed for life by Away. Find our full review here.A powerful portable speakerAmazonSonos MoveThe Sonos Move is one of the best speakers on the market. It's powerful, can be controlled by voice or an app, and has Amazon Alexa built-in so on WiFi you can play music, check the news, set alarms, get your questions answered, and more, without much effort.A delicate, timeless diamond necklaceAurateAurate Diamond Bezel NecklaceThis is something your girlfriend will wear and own forever. A delicate diamond necklace is an essential piece and will (probably) never go out of style. This option is from one of our favorite startups, Aurate — an ethical fine jewelry startup founded by two women from the Netherlands and Morocco, respectively. Read the original article on Business Insider.....»»

The Forgotten History Of The 1970s Authored by Charles Hugh Smith via OfTwoMinds blog, We need a new iteration of economics that advances beyond the obsolete, misleading statistical measurements of bygone eras. Let's focus on a largely forgotten history, one within living memory of everyone born in the 1950s, a history of signal importance to our understanding of the forces that will dominate the next decade. The 1970s in mainstream history is: exaggerated fashions, disco, Watergate, the end of the Vietnam War, the gas crisis, the presidency of Jimmy Carter and stagflation. Stagflation--inflation plus stagnant growth--is once again in the news, and there are numerous articles comparing the present to the 1970s. What's astonishing is none of these comparisons (at least those I've seen) even mention the most economically consequential dynamic of the 1970s: the institutionalization of environmental standards that forced the clean-up of America's pervasive industrial pollution and the re-engineering of the industrial base. In today's money, cleaning up the sources of air, water and soil pollution cost trillions of dollars, an investment that didn't generate profits or productivity as measured in financial terms. The eventual gains were enormous, but our conventional financial measures of growth--profits and productivity--do not measure improvements in air and water quality or advances in public health due to the sharp reduction in pollution. Well-being isn't measured, so it isn't recognized. These costs were not fully accounted or properly attributed to reversing decades of industrial pollution and rebuilding America's aging, obsolete, inefficient, highly polluting industrial base. Instead, the financial burdens of this sustained investment in cleaning up the nation's environment were written off as "stagflation," a catch-all word that lacks any explanatory insight. The gains were not strictly financial, and so they weren't measured. Since they weren't measured, both the costs and gains were overlooked and then forgotten. It's hard to imagine how poor the air and water quality was by 1970. (The U.S. Environmental Protection Agency (EPA) was established on December 2, 1970.) Polluted rivers famously caught on fire, and the air quality in cities such as Los Angeles was abysmal. I recently watched a scene from an early 1970s Columbo episode filmed in an LA high-rise and was struck by the thick layer of toxic smog blanketing the city. Appliances and vehicles were terribly inefficient because nobody cared about efficiency when energy was dirt-cheap. U.S. factories were a generation behind global competitors such as Germany and Japan, whose industrial base had been rebuilt to modern standards after being devastated in World War II. Many U.S. plants were drafty, uninsulated and filled with equipment from a previous era. Changing all this required trillions of dollars of investment and many years--costs which did not generate profits or immediate productivity gains. It wasn't until the 1980s that the payoff from this stupendous effort became visible and measurable. Although it's largely been forgotten, we're still collecting "dividends" on the investments made in the "stagflationary" 1970s. Since we don't measure "growth" in well-being, the gains from the 1970s were uncounted. The gains in efficiency and quality were also under-counted. Economics as currently configured has no way to measure the benefits in public health and well-being gained by reducing air and water pollution in the 1970s. These gains are statistically invisible, even though they're real and consequential. (Pollution remains an issue, of course; "forever chemicals," Super-Fund sites, etc. still require regulations, enforcement and sustained spending.) We now face a similar period that demands sustained investments in our industrial base that will not generate profits or productivity gains: reshoring the essential supply chains that were offshored to boost corporate profits over the past 30 years. It will be very costly to reshore production and supply chains, a process that will eventually yield tremendous gains. But they will be gains that conventional financial measures will completely miss--gains in national security, resilience, efficiency and stability. Conventional economists and pundits have overlooked the primary cause of "stagflation" in the 1970s, and they'll also miss the role of reshoring in the current era of "stagflation." Not only do we only manage what we measure, we also only see and understand what we measure. If it's not measured in conventional terms, it vanishes from the stories we tell ourselves, i.e. history. As I explain in my book Global Crisis, National Renewal, reshoring and rebuilding a super-efficient industrial base will separate the world's nations into the few which not just survive but thrive and the rest that decay and collapse. Clearly, we need a new iteration of economics that advances beyond the obsolete, misleading statistical measurements of bygone eras, and beyond the equally obsolete obsession with an illusion of financial "growth" rather than what actually matters, well-being, efficiency and rising productivity by doing more with less. In the industrializing world, the costs of cleaning up industrial pollution have yet to be paid in full. The costs will be paid either in cash or in diminished public health and higher health expenditures. *  *  * My new book is now available at a 10% discount ($8.95 ebook, $18 print): Self-Reliance in the 21st Century.  Read the first chapter for free (PDF) Become a $1/month patron of my work via patreon.com. Tyler Durden Sat, 01/14/2023 - 10:30.....»»

Demis Hassabis helped to bring artificial intelligence mainstream. Now he is issuing a warning Demis Hassabis stands halfway up a spiral staircase, surveying the cathedral he built. Behind him, light glints off the rungs of a golden helix rising up through the staircase’s airy well. The DNA sculpture, spanning three floors, is the centerpiece of DeepMind’s recently opened London headquarters. It’s an artistic representation of the code embedded in the nucleus of nearly every cell in the human body. “Although we work on making machines smart, we wanted to keep humanity at the center of what we’re doing here,” Hassabis, DeepMind’s CEO and co-founder, tells TIME. This building, he says, is a “cathedral to knowledge.” Each meeting room is named after a famous scientist or philosopher; we meet in the one dedicated to James Clerk Maxwell, the man who first theorized electromagnetic radiation. “I’ve always thought of DeepMind as an ode to intelligence,” Hassabis says. [time-brightcove not-tgx=”true”] Hassabis, 46, has always been obsessed with intelligence: what it is, the possibilities it unlocks, and how to acquire more of it. He was the second-best chess player in the world for his age when he was 12, and he graduated from high school a year early. As an adult he strikes a somewhat diminutive figure, but his intellectual presence fills the room. “I want to understand the big questions, the really big ones that you normally go into philosophy or physics if you’re interested in,” he says. “I thought building AI would be the fastest route to answer some of those questions.” DeepMind—a subsidiary of Google’s parent company, Alphabet—is one of the world’s leading artificial intelligence labs. Last summer it announced that one of its algorithms, AlphaFold, had predicted the 3D structures of nearly all the proteins known to humanity, and that the company was making the technology behind it freely available. Scientists had long been familiar with the sequences of amino acids that make up proteins, the building blocks of life, but had never cracked how they fold up into the complex 3D shapes so crucial to their behavior in the human body. AlphaFold has already been a force multiplier for hundreds of thousands of scientists working on efforts such as developing malaria vaccines, fighting antibiotic resistance, and tackling plastic pollution, the company says. Now DeepMind is applying similar machine-learning techniques to the puzzle of nuclear fusion, hoping it helps yield an abundant source of cheap, zero-carbon energy that could wean the global economy off fossil fuels at a critical juncture in the climate crisis. Hassabis says these efforts are just the beginning. He and his colleagues have been working toward a much grander ambition: creating artificial general intelligence, or AGI, by building machines that can think, learn, and be set to solve humanity’s toughest problems. Today’s AI is narrow, brittle, and often not very intelligent at all. But AGI, Hassabis believes, will be an “epoch-defining” technology—like the harnessing of electricity—that will change the very fabric of human life. If he’s right, it could earn him a place in history that would relegate the namesakes of his meeting rooms to mere footnotes. But with AI’s promise also comes peril. In recent months, researchers building an AI system to design new drugs revealed that their tool could be easily repurposed to make deadly new chemicals. A separate AI model trained to spew out toxic hate speech went viral, exemplifying the risk to vulnerable communities online. And inside AI labs around the world, policy experts were grappling with near-term questions like what to do when an AI has the potential to be commandeered by rogue states to mount widespread hacking campaigns or infer state-level nuclear secrets. In December 2022, ChatGPT, a chatbot designed by DeepMind’s rival OpenAI, went viral for its seeming ability to write almost like a human—but faced criticism for its susceptibility to racism and misinformation. So did the tiny company Prisma Labs, for its Lensa app’s AI-enhanced selfies. But many users complained Lensa sexualized their images, revealing biases in its training data. What was once a field of a few deep-pocketed tech companies is becoming increasingly accessible. As computing power becomes cheaper and AI techniques become better known, you no longer need a high-walled cathedral to perform cutting-edge research. Read More: The Price of Your AI-Generated Selfie It is in this uncertain climate that Hassabis agrees to a rare interview, to issue a stark warning about his growing concerns. “I would advocate not moving fast and breaking things,” he says, referring to an old Facebook motto that encouraged engineers to release their technologies into the world first and fix any problems that arose later. The phrase has since become synonymous with disruption. That culture, subsequently emulated by a generation of startups, helped Facebook rocket to 3 billion users. But it also left the company entirely unprepared when disinformation, hate speech, and even incitement to genocide began appearing on its platform. Hassabis sees a similarly worrying trend developing with AI. He says AI is now “on the cusp” of being able to make tools that could be deeply damaging to human civilization, and urges his competitors to proceed with more caution than before. “When it comes to very powerful technologies—and obviously AI is going to be one of the most powerful ever—we need to be careful,” he says. “Not everybody is thinking about those things. It’s like experimentalists, many of whom don’t realize they’re holding dangerous material.” Worse still, Hassabis points out, we are the guinea pigs. Hassabis was just 15 when he walked into the Bullfrog video-game studios in Guildford, in the rolling green hills just southwest of London. As a child he had always been obsessed with games. Not just chess—the main source of his expanding trophy cabinet—but the kinds you could play on early computers, too. Now he wanted to help make them. He had entered a competition in a video-game magazine to win an internship at the prestigious studio. His program—a Space Invaders-style game where players shot at chess pieces descending from the top of the screen—came in second place. He had to settle for a week’s work experience. Courtesy Demis HassabisHassabis, left, captaining the England under-11s chess team at the age of 9 Peter Molyneux, Bullfrog’s co-founder, still remembers first seeing Hassabis. “He looked like an elf from Lord of the Rings,” Molyneux says. “This little slender kid came in, who you would probably just walk past in the street and not even notice. But there was a sparkle in his eyes: the sparkle of intelligence.” In a chance conversation on the bus to Bullfrog’s Christmas party, the teenager captivated Molyneux. “The whole of the journey there, and the whole of the journey back, was the most intellectually stimulating conversation,” he recalls. They talked about the philosophy of games, what it is about the human psyche that makes winning so appealing, and whether you could imbue those same traits in a machine. “All the time I’m thinking, This is just a kid!” He knew then this young man was destined for great things. The pair became fast friends. Hassabis returned to Bullfrog in the summer before he left for the University of Cambridge, and spent much of that time with Molyneux playing board and computer games. Molyneux recalls a fierce competitive streak. “I beat him at almost all the computer games, especially the strategy games,” Molyneux says. “He is an incredibly competitive person.” But Molyneux’s bragging rights were short-lived. Together, in pursuit of interesting game dynamics that might be the seed of the next hit video game, they invented a card-game they called Dummy. Hassabis beat Molyneux 35 times in a row. After graduating from Cambridge, Hassabis returned to Bullfrog to help Molyneux build his most popular game to date: Theme Park, a simulation game giving the player a God’s-eye view of an expanding fairground business. Hassabis went on to establish his own game company before later deciding to study for a Ph.D. in neuroscience. He wanted to understand the algorithmic level of the brain: not the interactions between microscopic neurons but the larger architectures that seemed to give rise to humanity’s powerful intelligence. “The mind is the most intriguing object in the universe,” Hassabis says. He was trying to understand how it worked in preparation for his life’s quest. “Without understanding that I had in mind AI the whole time, it looks like a random path,” Hassabis says of his career trajectory: chess, video games, neuroscience. “But I used every single scrap of that experience.” By 2013, when DeepMind was three years old, Google came knocking. A team of Google executives flew to London in a private jet, and Hassabis wowed them by showing them a prototype AI his team had taught to play the computer game Breakout. DeepMind’s signature technique behind the algorithm, reinforcement learning, was something Google wasn’t doing at the time. It was inspired by how the human brain learns, an understanding Hassabis had developed during his time as a neuroscientist. The AI would play the game millions of times, and was rewarded every time it scored some points. Through a process of points-based reinforcement, it would learn the optimum strategy. Hassabis and his colleagues fervently believed in training AI in game environments, and the dividends of the approach impressed the Google executives. “I loved them immediately,” says Alan Eustace, a former senior vice president at Google who led the scouting trip. Hassabis’ focus on the dangers of AI was evident from his first conversation with Eustace. “He was thoughtful enough to understand that the technology had long-term societal implications, and he wanted to understand those before the technology was invented, not after the technology was deployed,” Eustace says. “It’s like chess. What’s the endgame? How is it going to develop, not just two steps ahead, but 20 steps ahead?” Eustace assured Hassabis that Google shared those concerns, and that DeepMind’s interests were aligned with its own. Google’s mission, Eustace said, was to index all of humanity’s knowledge, make it accessible, and ultimately raise the IQ of the world. “I think that resonated,” he says. The following year, Google acquired DeepMind for some $500 million. Hassabis turned down a bigger offer from Facebook. One reason, he says, was that, unlike Facebook, Google was “very happy to accept” DeepMind’s ethical red lines “as part of the acquisition.” (There were reports at the time that Google agreed to set up an independent ethics board to ensure these lines were not crossed.) The founders of the fledgling AI lab also reasoned that the megacorporation’s deep pockets would allow them access to talent and computing power that they otherwise couldn’t afford. In a glass cabinet spanning the far wall of the lobby at DeepMind’s London headquarters, among other memorabilia from the first 12 years of the company’s life, sits a large square of wood daubed with black scribbles. It’s a souvenir from DeepMind’s first major coup. Soon after the Google acquisition, the company had set itself the challenge of designing an algorithm that could beat the best player in the world at the ancient Chinese board game Go. Chess had long ago been conquered by brute-force computer programming, but Go was far more complex; the best AI algorithms were still no match for top human players. DeepMind tackled the problem the same way they’d cracked Breakout. It built a program that, after being taught the rules of the game by observing human play, would play virtually against itself millions of times. Through reinforcement learning, the algorithm would update itself, reducing the “weights” of decisions that made it more likely to lose the game, and increasing the “weights” that made it more likely to win. At a tournament in Korea in March 2016, the algorithm—called AlphaGo—went up against Lee Sedol, one of the world’s top Go players. AlphaGo beat him four games to one. With a black marker pen, the defeated Lee scrawled his signature on the back of the Go board on which the fateful game had been played. Hassabis signed on behalf of AlphaGo, and DeepMind kept the board as a trophy. Forecasters had not expected the milestone to be passed for a decade. It was a vindication of Hassabis’ pitch to Google: that the best way to push the frontier of AI was to focus on reinforcement learning in game environments. But just as DeepMind was scaling new heights, things were beginning to get complicated. In 2015, two of its earliest investors, billionaires Peter Thiel and Elon Musk, symbolically turned their backs on DeepMind by funding rival startup OpenAI. That lab, subsequently bankrolled by $1 billion from Microsoft, also believed in the possibility of AGI, but it had a very different philosophy for how to get there. It wasn’t as interested in games. Much of its research focused not on reinforcement learning but on unsupervised learning, a different technique that involves scraping vast quantities of data from the internet and pumping it through neural networks. As computers became more powerful and data more abundant, those techniques appeared to be making huge strides in capability. While DeepMind, Google, and other AI labs had been working on similar research behind closed doors, OpenAI was more willing to let the public use its tools. In late 2022 it launched DALL·E 2, which can generate an image of almost any search term imaginable, and the chatbot ChatGPT. Because both of these tools were trained on data scraped from the internet, they were plagued by structural biases and inaccuracies. DALL·E 2 is likely to illustrate “lawyers” as old white men and “flight attendants” as young beautiful women, while ChatGPT is prone to confident assertions of false information. In the wrong hands, a 2021 DeepMind research paper says, language-generation tools like ChatGPT and its predecessor GPT-3 could turbocharge the spread of disinformation, facilitate government censorship or surveillance, and perpetuate harmful stereotypes under the guise of objectivity. (OpenAI acknowledges its apps have limitations, including biases, but says that it’s working to minimize them and that its mission is to build safe AGI to benefit humanity.) But despite Hassabis’s calls for the AI race to slow down, it appears DeepMind is not immune from the competitive pressures. In early 2022, the company published a blueprint for a faster engine. The piece of research, called Chinchilla, showed that many of the industry’s most cutting-edge models had been trained inefficiently, and explained how they could deliver more capability with the same level of computing power. Hassabis says DeepMind’s internal ethics board discussed whether releasing the research would be unethical given the risk that it could allow less scrupulous firms to release more powerful technologies without firm guardrails. One of the reasons they decided to publish it anyway was because “we weren’t the only people to know” about the phenomenon. He says that DeepMind is also considering releasing its own chatbot, called Sparrow, for a “private beta” some time in 2023. (The delay is in order for DeepMind to work on reinforcement learning-based features that ChatGPT lacks, like citing its sources. “It’s right to be cautious on that front,” Hassabis says.) But he admits that the company may soon need to change its calculus. “We’re getting into an era where we have to start thinking about the freeloaders, or people who are reading but not contributing to that information base,” he says. “And that includes nation states as well.” He declines to name which states he means—“it’s pretty obvious, who you might think”—but he suggests that the AI industry’s culture of publishing its findings openly may soon need to end. Lee Jin-man—APHassabis celebrates DeepMind’s victory over Go player Lee Sedol, right, in South Korea in 2016 Hassabis wants the world to see DeepMind as a standard bearer of safe and ethical AI research, leading by example in a field full of others focused on speed. DeepMind has published “red lines” against unethical uses of its technology, including surveillance and weaponry. But neither DeepMind nor Alphabet has publicly shared what legal power DeepMind has to prevent its parent—a surveillance empire that has dabbled in Pentagon contracts—from pursuing those goals with the AI DeepMind builds. In 2021, Alphabet ended yearslong talks with DeepMind about the subsidiary’s setting up an independent legal structure that would prevent its AI being controlled by a single corporate entity, the Wall Street Journal reported. Hassabis doesn’t deny DeepMind made these attempts, but downplays any suggestion that he is concerned about the current structure being unsafe. When asked to confirm or deny whether the independent ethics board rumored to have been set up as part of the Google acquisition actually exists, he says he can’t, because it’s “all confidential.” But he adds that DeepMind’s ethics structure has “evolved” since the acquisition “into the structures that we have now.” Hassabis says both DeepMind and Alphabet have committed to public ethical frameworks and build safety into their tools from the very beginning. DeepMind has its own internal ethics board, the Institutional Review Committee (IRC), with representatives from all areas of the company, chaired by its chief operating officer, Lila Ibrahim. The IRC meets regularly, Ibrahim says, and any disagreements are escalated to DeepMind’s executive leaders for a final decision. “We operate with a lot of freedom,” she says. “We have a separate review process: we have our own internal ethics review committee; we collaborate on best practices and learnings.” When asked what happens if DeepMind’s leadership team disagrees with Alphabet’s, or if its “red lines” are crossed, Ibrahim only says, “We haven’t had that issue yet.” One of Hassabis’ favorite games right now is a strategy game called Polytopia. The aim is to grow a small village into a world-dominating empire through gradual technological advances. Fishing, for example, opens the door to seafaring, which leads eventually to navies of your ships firing cannons and traversing oceans. By the end of the game, if you’ve directed your technological progress astutely, you’ll sit atop a shining, sophisticated empire with your enemies dead at your feet. (Elon Musk, Hassabis says, is a fan too. The last time the pair spoke, a few months ago, Polytopia was the main subject of their conversation. “We both like that game a lot,” Hassabis says.) While Hassabis’ worldview is much more nuanced—and cautious—it’s easy to see why the game’s ethos resonates with him. He still appears to believe that technological advancement is inherently good for humanity, and that under capitalism it’s possible to predict and mitigate AI’s risks. “Advances in science and technology: that’s what drives civilization,” he says. James Day for TIMEDemis Hassabis at DeepMind’s headquarters in London on Nov. 3, 2022 Hassabis believes the wealth from AGI, if it arrives, should be redistributed. “I think we need to make sure that the benefits accrue to as many people as possible—to all of humanity, ideally.” He likes the ideas of universal basic income, under which every citizen is given a monthly stipend from the government, and universal basic services, where the state pays for basic living standards like transportation or housing. He says an AGI-driven future should be more economically equal than today’s world, without explaining how that system would work. “If you’re in a [world of] radical abundance, there should be less room for that inequality and less ways that could come about. So that’s one of the positive consequences of the AGI vision, if it gets realized.” Others are less optimistic that this utopian future will come to pass—given that the past several decades of growth in the tech industry have coincided with huge increases in wealth inequality. “Major corporations, including the major corporation that owns DeepMind, have to ensure they maximize value to shareholders; are not focused really on addressing the climate crisis unless there is a profit in it; and are certainly not interested in redistributing wealth when the whole goal of the company is to accumulate further wealth and distribute it to shareholders,” says Paris Marx, host of the podcast Tech Won’t Save Us. “Not recognizing those things is really failing to fully consider the potential impacts of the technology.” Alphabet, Amazon, and Meta were among the 20 corporations that spent the most money lobbying U.S. lawmakers in 2022, according to transparency watchdog Open Secrets. “What we lack is not the technology to address the climate crisis, or to redistribute wealth,” Marx says. “What we lack is the political will. And it’s hard to see how just creating a new technology is going to create the political will to actually have these more structural transformations of society.” Back at DeepMind’s spiral staircase, an employee explains that the DNA sculpture is designed to rotate, but today the motor is broken. Closer inspection shows some of the rungs of the helix are askew. At the bottom of the staircase there’s a notice on a wooden stool in front of this giant metaphor for humanity. “Please don’t touch,” it reads. “It’s very fragile and could easily be damaged.” —With reporting by Mariah Espada and Solcyre Burga.....»»

Supply and demand are out of balance in the Paper and Related Products industry, which is leading to pricing strength rarely seen before. And rising estimates indicate that the market will remain supportive to industry players in 2023. The Paper and related Products industry is undergoing meaningful changes.Historically, the biggest use cases for paper have been packaging and printing. With the expansion of the digital economy, the printing paper industry went into secular decline. So when the pandemic hit in 2020, paper producers were consolidating operations, shutting down mills and some were going out of business.At the same time, there was gross underestimation of printing paper demand. These factors combined to create supply-demand imbalance. During the pandemic, there were added supply-side challenges related to raw material and labor availability and shipping bottlenecks. All these served to further constrict supply.The logistical difficulties were shared by other segments of the paper industry, most notably in the packaging segment. However, environmental factors continue to drive demand for ecofriendly packaging materials, putting paper at the forefront.Companies are researching paper and related products to replace their dependence on plastic and meet ESG goals. And the pandemic hugely increased demand for ecofriendly packaging because products that were earlier picked up in the store had to be transported in containers of some sort (paper boxes for the most part).As peoples’ shopping habits change and move online, demand for this kind of packaging will continue to grow. In the stores too, paper bags are increasingly replacing plastic bags. Therefore, this is a large and fast-growing market.The third segment that continues to emerge is health/sanitation. Use of paper (tissue, wipes, etc) was greatly boosted by the pandemic as hospitals and nursing homes pushed demand. In general it is seen that paper consumption in households in developed economies is higher than in developing economies.Therefore, it is reasonable to assume that growth in developing economies will continue to boost this demand in the next few years. Since population growth in these countries is also higher, this is a strong secular driver of demand.Rising disposable income and increasing food consumption away from home in developing economies are also boosting demand.China is the largest producer and consumer of paper per capita. Therefore, developments in China tend to affect the market as well.The war in Ukraine is also disrupting the supply chain and impacting raw material supply. Part of the problem is related to the availability of components and part of it is the trade ban on Russia, which is limiting supply.The above factors indicate that paper demand is likely to be relatively steady even if the economy takes a turn for the worse, which is a recipe for stronger pricing. And this is a good thing because raw material and energy prices are likely to remain elevated in the foreseeable future. Commentary from a number of companies shows that stronger pricing is more than offsetting the higher costs. Therefore, paper stocks are a relatively safe bet in 2023.Let’s take a look at some examples:Klabin S.A. KLBAYThe Brazilian company operates through Forestry, Paper, Conversion and Pulp segments. The Forestry segment is involved with the planting and forestry operations of pine and eucalyptus; and the sale of wood logs. The Paper segment produces and sells reels of cardboard, kraftliner, and recycled paper. The Conversion segment is involved in the production and sale of corrugated boxes and sheets, and industrial bags. The Pulp segment produces and sells short, long, and fluffed pulp.Current drivers of Klabin’s business include strengthening demand in the food and beverage market as well as industrial packaging, as the Brazilian economy continues to strengthen. Higher volumes, a more favorable mix and stronger pricing are contributing. On the third-quarter earnings call, management stated that the average net price per ton was 28% higher than the prior year.In the last 30 days, analysts have raised Klabin’s 2023 earnings estimates by 27 cents (15.3%).Valuation based on P/E is low. At a 3.8X multiple, the shares are trading at a 21.0% discount to their median level over the past year and a 78.1% discount to the S&P 500.Mondi MONDYMondi engages in the manufacture and sale of packaging and paper products in Africa, Western Europe, Emerging Europe, Russia, North America, South America, Asia and Australia. It operates in Corrugated Packaging, Flexible Packaging, Engineered Materials and Uncoated Fine Paper segments. It serves customers in the agriculture, automotive, building and construction, chemicals and dangerous goods, food and beverages, graphic and photographic, home and personal care, medical and pharmaceutical, office and professional printing, paper and packaging converting, pet care, retail and e-commerce, and shipping and transport industries.The company is seeing stronger pricing across segments with volume strength in all except corrugated, which ran into difficult comps.In the last 30 days, the Zacks Consensus Estimate for 2023 earnings increased 22 cents (7.5%) and for 2024 earnings 10 cents, or a little over 3%.The shares are trading below their annual high but still at a 33..8% discount to the S&P 500. Suzano S.A. SUZSuzano is engaged primarily in the production and sale of eucalyptus pulp and paper products in Brazil and internationally. It operates through the Pulp and Paper segments. The company offers coated and uncoated printing and writing papers, paperboards, tissue papers, market and fluff pulps; and lignin and its byproducts.Like Klabin and Mondi, Suzano is also seeing stronger pricing for its hardwood pulp in North America and Europe, where demand is strong as well as in China where demand is stable. While demand was also very strong in South America, new projects saw roadblocks because of European sanctions on Russian wood.In the last 30 days, Suzano’s 2023 estimates have jumped 29 cents (17.4%)The shares are trading at a discount to their annual high and also the S&P 500.Sylvamo Corporation SLVMSylvamo produces and supplies printing paper in Latin America, Europe and North America. Some of its offerings include uncoated freesheet for paper products (cutsize and offset paper; pulp, aseptic, liquid packaging board, coated unbleached kraft) and hardwood pulp (bleached hardwood and eucalyptus kraft; bleached softwood kraft; bleached chemi-thermomechanical pulp). It sells through merchants and distributors, office product suppliers, e-commerce channels, retailers and dealers, as well as directly to converters producing envelopes, forms and other related products.Other than stronger volumes, both price and mix are driving the company’s profitability right now. Pricing in particular is turning out to be better than management’s expectations.The shares are trading at a slight discount to their median level over the past year and a 69.5% discount to the S&P 500.Veritiv Corporation VRTVVeritiv Corporation operates as a business-to-business provider of value-added packaging products and services, as well as facility solutions, print, and publishing products and services in the United States and internationally. The company operates through four segments: Packaging, Facility Solutions, Print, and Publishing and Print Management (Publishing). It serves manufacturing, food and beverage, wholesale and retail, healthcare, transportation, property management, higher education, entertainment and hospitality, commercial printing, and publishing sectors.Management has talked about slower volumes in the logistics and consumer electronics markets with higher volumes in health-care, manufacturing and e-commerce markets.While price increases in corrugated and resin have moderated, other segments within Packaging remain strong with elevated prices expected to continue into 2023. In the Facility Solutions segment, the away-from-home verticals like entertainment and hospitality are likely to remain strong (cruise lines and theme parks returning) but offset to an extent by continued softness in offices. In Printing, demand is outpacing supply because of the reasons outlined above, leading to stronger pricing.The shares are trading at a 9.6% discount to their median value over the past year and a 59.7% discount to the S&P 500.Wrapping UpAll the above stocks carry a Zacks Rank #1, which translates to a Strong Buy Rating. Moreover, all except Klabin have Value and Growth Scores of A or B. Moreover, as the above examples illustrate, the current story is not reflected in share prices, which continue to represent a slow-growing and mature market with limited pricing power. Therefore, this is a market worth considering.One-Month Price PerformanceImage Source: Zacks Investment Research Free Report: Must-See Energy Stocks for 2023 Record profits at oil companies can mean big gains for you. With soaring demand and elevated prices, oil stocks could be top performers by far in 2023. Zacks has released a special report revealing the 4 oil stocks experts believe will deliver the biggest gains. (You’ll never guess Stock #2!) Download Oil Market on Fire today, absolutely free.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Klabin SA (KLBAY): Free Stock Analysis Report Veritiv Corporation (VRTV): Free Stock Analysis Report MONDI PLC UNS (MONDY): Free Stock Analysis Report Suzano S.A. Sponsored ADR (SUZ): Free Stock Analysis Report Sylvamo Corporation (SLVM): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

     The transcript from this week’s, MiB: John Mack, Morgan Stanley CEO, is below. You can stream and download our full conversation, including any podcast extras, on iTunes, Spotify, Stitcher, Google, YouTube, and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ ANNOUNCER: This is Masters… Read More The post Transcript: John Mack appeared first on The Big Picture.      The transcript from this week’s, MiB: John Mack, Morgan Stanley CEO, is below. You can stream and download our full conversation, including any podcast extras, on iTunes, Spotify, Stitcher, Google, YouTube, and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ ANNOUNCER: This is Masters in Business with Barry Ritholtz on Bloomberg Radio. BARRY RITHOLTZ, HOST, MASTERS IN BUSINESS: This week on the podcast, boy, do I have an extra special guest, John Mack, legendary CEO of Morgan Stanley. Man, this is just a masterclass on leadership, on team building, on understanding a business and understanding what to do for your clients. So not only that they give you business, but they give you their loyalty and their ongoing respect. I don’t know what else to say other than my conversation with Morgan Stanley’s John Mack. I’ve been looking forward to this conversation for quite a while. As soon as I saw the book came out, I have to really get the inside dope from John. And so let’s start with the beginning. You start at Smith Barney in 1968. What was so compelling about a North Carolina kid from Duke going to Wall Street? JOHN MACK, FORMER CHIEF EXECUTIVE OFFICER AND CHAIRMAN OF THE BOARD, MORGAN STANLEY: Well, it’s pretty simple. So I was on scholarship at Duke, an athletic scholarship and cracked C5 in my neck. So my scholarship was only valid for four years, and I needed one class to graduate. I had very little money, and my father had passed away when I was in college. So I needed a job. And I went down and knocked on the door at a company called First Securities of North Carolina. A guy named Bill Bonner said, look, you know, nothing about the business, I’ll put you in the back office. And you can go to your one class every day ahead, and then go on your lunch hour and come back and go to work. So it was me and nine women in the back office, and they had the old IBM computer punch cards. That’s how long ago it was. So I got a sense and a feel for the business. And I got to know a lady named Fannie Mitchell, who ran job placement for Duke University. So when people would come down and say, you know, Procter & Gamble or IBM, whoever it may be, she would say, you got to talk to this John Mack. And I think, you know, I would see her in the cafeteria and most students would ignore. I’d sit down, have a cup of coffee with her or have lunch with her. So that’s how I got involved with the securities business. And then the Smith Barney was in town and they were going to open an office in Atlanta, and they ended up hiring me to go to their Atlanta office. So I come up to New York in ’68 and I’m working at Smith Barney, and they decided because of the explosion of volume, the New York Stock Exchange stopped all new branches from opening. So I got a chance to go in the municipal bond department. That’s what I did. I was a trader-salesman, and I learned a lot about risk. And I also learned a lot about drinking at lunch, and you got to be very careful. RITHOLTZ: Going out with clients, having a couple of drinks. Hey, you come back to the desk, a little buzzed, what happens? Can you make a trading mistake that way? MACK: Well, not only you can, I did. We went down to Chez Yvonne, if you remember that years ago, down on Wall Street. U.S. Trust was my client, a guy named Jimmy Degnan. And U.S Trust was the advisor for the state employees of New York, which is a huge pension fund. RITHOLTZ: Giant. MACK: So we sat there and we drank for at least three hours. RITHOLTZ: Now, wait, are you normally a drinker during lunch, or if the client is drinking, you got to keep up? MACK: I’m a client guy. No one wants to drink alone. So if he’s drinking or she’s drinking, I’m drinking. I came back and I made a mistake. And thank God, they didn’t fire me. And over time, we eradicated that and fixed it. And then I learned be very careful when you go out to lunch on Wall Street. RITHOLTZ: So tell us a little bit about the culture on the street in the late ‘60s and early ‘70s. What was it like? MACK: It was a crazy time. The thing of politically correct didn’t exist. RITHOLTZ: To say the very least. MACK: All right. So I’m 21, 22 years old. I’m at Smith Barney. I’m a municipal trader. Then I go into the corporate bond market. And I hear about these crazy parties that Wall Street was throwing and I only went to one and left. I mean, it was basically strippers and people getting drunk. And you know, I came from a town of about 12,000 people in North Carolina, a Baptist religion, mainly. It was a new world for me, but it taught me a lot. You got to pay attention and you got to make sure that you don’t get drunk at lunch and you got to make sure you tell the truth. RITHOLTZ: Telling the truth is certainly a key part, and that’s a theme that comes up again and again in your book. We’ll get to that in a little bit. You mentioned the New York Stock Exchange didn’t allow any new branches to be open. I have a vague recollection of Wall Street being closed on Wednesdays to catch up on the paperwork. Tell us a little bit about that. MACK: That’s correct. They closed on Wednesday to catch up on the paperwork, and all the firms, whether it was, first of all, Morgan Stanley, Goldman Sachs, and Morgan Stanley at that time didn’t have a big secondary business, we had to clear up the back office. So you’d shut at noon and try to figure out the securities go to Y and these securities go to Z. RITHOLTZ: Literally paper certificates, runners up and down the street — MACK: Absolutely. Absolutely. RITHOLTZ: — and delivering. MACK: Absolutely. RITHOLTZ: Talk about, you know, ancient technology. One of the things you mentioned was that by the 1980s, there were two key forces driving changes on Wall Street; deregulation and technology. MACK: Right. Correct. RITHOLTZ: Tell us about that. MACK: Well, the markets were changing, they were global. And as they became global, and you were competing around the world, it was clear that you needed to free up our securities business to be more active on a global basis. So we got rid of a lot of regulation. We got more oversight, but not regulatory control. I mean, clearly reported to the SEC, York Stock Exchange, et cetera. But it wasn’t smothering. I mean, you know, we were not used to it. But it was the right thing for the New York Stock Exchange to do. There had to be more regulation. And you know, as I said earlier, it’s a global market, and you want to make sure that we represent in New York Stock Exchange and really America the proper way, and it worked. And the U.K. was much stricter than we were; and in Germany, they restricted than we were. And clearly, the Japanese were stricter than we were. And over time, all these different regulatory areas from around the world, came up with a conclusion that we need kind of an overall management system for risk and regulatory oversight. So if you took a big risk in China, in Japan or in Europe, you needed to roll that up, so the U.S. regulator or the U.K. regulator could see what your overall risk was. I think that was a huge and a very important move. RITHOLTZ: You spent the first part of your career primarily in fixed income. First, you mentioned municipals — MACK: Right. RITHOLTZ: — then corporate. What was the appeal of the bond side of the business? MACK: Well, originally, when I joined Smith Barney, I was going to go to Atlanta in the retail office and cover Florida and other southern states. And then I got to know a guy named George Wilder who had been in the municipal bond business, and a guy named John McDougall who was a municipal bond trader. And they convinced me, you know, I want you to stay in New York, you’re a great salesman, and you can sell and trade munis with us. And I like New York and I like the business, and I like the investment world of large pension funds, money managers and things like that. So we did a combination of things, we covered clients, and then we satisfied the desire of retail salesmen who wanted to buy munis in New York state or in California or Florida. So that’s how I got into the bond business. RITHOLTZ: What was it like trying to build a team on a bond desk that described in the book, could get a little frenetic? MACK: Yeah, it was. But you know, we built it over a long period of time, and we all grew up over that period of time. And you’ve learned that, number one, you had to be upfront. You had to focus on your clients. You couldn’t get drunk at lunch, which occasionally, we all got drunk at lunch and sometimes made a mistake. And you learn to focus on your client and you know, it became a very personal business. And you got to know who they were, you got to know their families. And I remember when I was at Smith Barney and then at F.S. Smithers, I was given the worst accounts because I went from trading to sale, so we’ll dump all these accounts on John Mack. RITHOLTZ: Give it to the kid. MACK: You got it. And there was a gentleman named Dick Vanskoy at the Mellon Bank, who managed and advised the state employees of Pennsylvania teachers and retirement funds. Huge — RITHOLTZ: That’s a big account in Pennsylvania. MACK: It was huge. RITHOLTZ: Yeah. MACK: But he was tough as nails. And you learned very quickly, that you better be on your toes when you deal with Dick. And I got to know him, he was a great mentor, taught me a lot about the business. And I spent a lot of time in Pittsburgh, even to the point that my wife and I would go out. I mean, I remember going out to Pittsburgh with these huge funds, it was probably the largest account in the country, at Mellon Bank at that time. RITHOLTZ: Really? MACK: And a guy named Jackie Kugler at Salomon Brothers, and Salomon was the dominant player in the bond market. They were the number one broker-banker for the pension funds for the state of Pennsylvania, both the teachers and the employees. And I just kept digging away, working hard at it. And over time, I became the number one dealer they dealt with. And George Polachek (ph), who came over from Ukraine after the Russians back then took over in World War II, was running it. He had been at Sun Life in Canada. And I got along with him well, and I did a lot of business with the Mellon bank, to the point I became their number one broker-dealer. And Polachek (ph) who loved martinis, walked onto the Salomon floor and screamed out to Kugler, how does it feel to be number two? That’s the environment we’re in. And I’ll tell you, I mean, I think business is personal. And we got to know the people at Mellon bank, whether it was, you know, Sally Yeh’s daughter who was in med school, or George Polachek (ph) who was going back over to Europe for a while. We really worked at getting to know people and building trust. And at the end of the day, it’s all about trust and it’s all about delivering what you say you’re going to do. And with the help of a lot of people, that’s what we did. And of course, my partner in all this was Christy Mack. And as I said earlier, my clients say, look, John, we really don’t care about you. It’s on Christy, yeah. RITHOLTZ: Your wife? MACK: Yeah. No. She was awesome, and is awesome. RITHOLTZ: So you eventually become head of the Fixed Income Department. MACK: Right. RITHOLTZ: And what was it like to go from sales and trading to managing a whole team of salespeople and traders? MACK: Well, it was very different and I learned very quickly, thank God for Dick Fisher, that you have to be more balanced and not as, I don’t know what the word is, aggressive, ruthless, uncouth, all of those words. We used to sit in clusters of four salespeople together, and we probably had five clusters. And one of my rules were that the desk can never be empty, you always need one person there. Because, you know, if no one is there and the phone rings, no one is picking it up. RITHOLTZ: Right. MACK: Occasionally, you know, no one was there. And I’d walk in and be really pissed off about it, and reach over and I would just clean the desk off on the floor. RITHOLTZ: Like, wipe everything — MACK: Everything. RITHOLTZ: — onto the floor? MACK: Right. And thank God for Dick Fisher and he said, look, John, you got the biggest gun in the firm, in that division. Your job is never use your gun. So I learned a lot from him and I calm things down. I wasn’t as aggressive, wasn’t as pushy, but I was still demanding. And look, it’s a great business with great opportunities, but you got to pay attention. You got to pay attention to the people around you. You got to pay attention to your clients. And this idea of especially at Morgan Stanley, the surest way to be fired at Morgan Stanley is the word got back, you got a client laid somewhere, you’re gone. There’s no debate, no discussion. So we really focused on trying to get close to our clients, give them what they needed, introduce them to other clients that also had similar asset management responsibilities. And Morgan Stanley at that time was really growing from a pure investment bank that covered, you know, AT&T, IBM, Southern Cal, you name it, they had it, the Government of Japan. And we really worked at imbuing that culture of first class business in a first class way into the Morgan Stanley sales and trading business. RITHOLTZ: So let’s talk a little bit about some of the things you discussed in the book. You described how different Wall Street is today from when you began. Tell us a little bit about the process of finance being institutionalized, and how the culture has changed. MACK: Well, I think the biggest change is the markets became so big and global, that Wall Street had to change. So if you go back to when I started the business, basically, your client base was here in the United States. But over time, as globalization took place, your clients would be all over the world. And people were more and more focused on what are the maximum returns we can make in investing. And it got to be a 24 hours a day trading, whether you’re in China or Japan or Europe or U.S. So you had to be on your game, and you also had to be available to do business at night. And our traders oftentimes will stay up all night to satisfy inquiries coming in from China or be there early in the morning for London. So globalization was the big change, and then technology added to it. Technology allowed people to see markets and here we are at Bloomberg, they were looking at machines. They could tell you what was going on in Hong Kong or what was going on in Europe. So the markets became 24/7. And as a result, you had the staff and in my case, the fixed income division, you needed people around the world to be able to satisfy clients who are investors, and at the same time, satisfy clients who are raising money through Morgan Stanley. So if AT&T was doing a big bond deal, we want to make sure that, you know, the Japanese, the Chinese and just go around the world, the Middle East, London and back to New York, that all of our clients got a chance to see and talk to a salesman who had information about the transaction we were doing for AT&T. So globalization was the big change. Then add to that, and here we are at Bloomberg, technology. You know, when I got in the business, there was no technology. You had a little machine that would do interest rates for you. You know, you’d put in a price and it would give you what the yield is. But now, you go into Morgan Stanley, you go into JPMorgan or Goldman, it makes no difference. Every desk has a box with data and information. And if you go back when I got in the business in early, early ‘70s, matter of fact, in the late ‘60s, that didn’t exist. I mean, people would go out for lunch, and you know, take a couple hours. You didn’t miss anything. But today, you don’t leave your desk. RITHOLTZ: Right. And I’d say the very least. So you helped to build a very special culture at Morgan Stanley. What goes into building a competitive investment bank? How do you create and sustain that culture? MACK: Well, I think by and large, people who come into the business are competitive. They want to achieve and they want to do well. What I was trying to do was to take all this, I guess courage is the wrong word, this aggressiveness, this ability to build business, and how do you make it into a one firm versus the guys in San Francisco, they get an order, don’t share it with New York. If we do it, you know, we’ll get more of a commission. So what I was trying to do when I took over the fixed income division is to create a one firm entity. I call it the one-firm firm. And I brought in a guy named Tom DeLong, who I’ve met on an airplane. So Christy and I were out in Utah, we were looking at buying a house because we started picking up skiing. And by the way, I’m a terrible skier. So I’m talking to this guy on the plane and I said to him, what do you do? And he said, I’m a professor at BYU, and I’m coming back to talk to AT&T, their management group about, you know, managing people and evaluations, et cetera. And I said, well, look, I’d like you to come in and see me when you have time. I’d like to talk to you. So Tom comes in. And by the way, now, Tom is a professor at Harvard University. So Tom comes in and he interviews my senior group. And he comes in, he said, well, here’s what people think, to get ahead at this division, they have to be your friends. RITHOLTZ: FOJ. MACK: Exactly. That’s right. And if they’re not your friend, they don’t make it. And he said, that may not be reality, but that’s what they all believe. RITHOLTZ: That’s the perception. MACK: So he said, what you should do is set up an independent group of people. Let them make a presentation to you of the talent that should be promoted. And you know, if you have a strong objection, you can say that, but by and large, you should accept what they put in front of you. So that’s exactly what they did. They took me picking who’s going to be promoted. And there was a promotion committee, and also a compensation committee. And then they would come to me and make recommendations. And so you didn’t favor one person, you had somewhere between four and eight people on these committees. And when they brought it to me, unless I had something very specific that I’d say, well, let me tell you why I disagree, I accepted the recommendation. And that move really changed the culture of the division, and it came into, you know, you don’t have to be Max’s friend (ph) or anyone else. It’s about being professional, direct and honest. And your peers would do the evaluation on how you’re doing, what you’re doing and what you should be doing. RITHOLTZ: This is the full 360 review. MACK: Exactly. RITHOLTZ: And the peers would also anonymously review their managers. MACK: Absolutely. RITHOLTZ: And what was the results from those sorts of things? MACK: Well, in some cases, we found that managers were not setting the right tone as far as being energetic and working with them. They were reluctant, oftentimes, to go out with salesmen and help them entertain with clients or spend time with clients. So it really put more pressure on managers to be involved and not just sit in an office or on a trading desk at the far end, and just, you know, take advantage of people working hard, but they’re not involved. So we got more involved. And it also got us to eliminate some of the managers. When you saw these 360 reviews and some of the data, and then you would dive into it and find out they’re right, we’re not going to have people like that at this firm. So not a lot of reduction at headcounts, but a few people we asked to leave. RITHOLTZ: And you talked about the willingness of senior management to assist with clients. You seemed to be ready to jump on a plane to go anywhere in the world, China, to Tokyo. It didn’t matter if you could help close a deal. You were there. MACK: That’s true. I mean, number one, I love the business. I mean, to go to China and build the relationships we built in China, or go to Europe, it didn’t make any difference where I went. I love the business. And you know, China was just opening up. And one of the guys who used to be at the World Bank said, you know, John, what China really needs, I think it was Ed Lim, it needs an investment bank. So we formed a small investment bank owned mainly by the Chinese, but Morgan Stanley on 30% of it. And we built a securities business with the Chinese in China. And Wang Qishan, who was the Vice Premier, he was the gentleman I worked with. And it took a lot of time, but the Chinese wanted create their own capital markets. They wanted to be independent, and they wanted the ability to go around the world and raise money, because we do in any American investment bank. And I’ll tell you one of the things that really touched me. We’re talking about China, but let’s say China Communist. We’re talking about diehard communists. Wang Qishan who was running the central bank at that time, and then he was given the responsibility by Zhu Rongji to build a securities business. And I’m working with him to do this joint venture and he flies over to New York, and we’re sitting in my office on whatever floor at Morgan Stanley. And we’re there for about an hour and a half, we’re making zero progress. We’re not getting anywhere. And I’ve been in Europe with him and talked to him over there. We were making progress there. And now here he is in New York and there’s like a big heavy stone on him. I looked at him and I finally figured out he’s a chain smoker. I said Qishan, light him up. He said, I can’t do that. I said, what do you mean you can’t do that? He said, in New York, you can’t smoke inside. I said, in my office, you can do anything you want. Light him up. And he smoked Luckys. Can you imagine smoking Luckys? He smoked Luckys, he lit up, we got the deal done. RITHOLTZ: No filter, right? MACK: No filter. We got the deal done. And I keep reflecting back, you got to pay attention to the person who’s in the room with you. RITHOLTZ: But I’m impressed that he knows the local rules and customs in New York. MACK: Yeah. Very respectful. RITHOLTZ: That’s really impressive. So you open this joint venture in China. Is Morgan Stanley the first U.S. Bank to open a joint venture in China? MACK: It was. I know the U.K. banks, Hong Kong bank out of a U.K. ownership. But we were the first bank. But you know, I’m sure JPMorgan had some kind of outlet there, but more for banking and taking deposits and doing traditional banking business. But from a trading point of view, securities business, thanks to Ed Lim, who as I said, worked at the UN said, you know, China really needs capital markets and this investment banking business. And with his help, we started a small investment bank there which continued to grow. RITHOLTZ: So not just the division in China grew, but all of Morgan Stanley grew. And eventually, you came to realize, hey, we have all this investment banking and trading experience, but we don’t have a retail force, the way somebody like Merrill Lynch does. And lo and behold, along comes Dean Witter — MACK: Right. RITHOLTZ: — potentially a great merger candidate. Tell us a little bit about why that seemed like a good idea at that time. MACK: Sure. Well, what we saw in Merrill Lynch, which traditionally had been a pure retail firm, because of their huge network, number one, they had better information not only from what’s going on in the retail market, but also from institutions. You know, if you were in Des Moines in Iowa, and you knew the local president of the First Bank of Iowa, you got better information. And if they were going to buy Treasury securities, or municipals, you got that order. So we saw that we were getting limited information. And then Sears, who had bought Dean Witter. I think it was Ed Brennan and Phil Purcell had been a management consultant I think from McKinsey, but not sure of that. And he convinced Brennan that, you know, if you really are going to be in retail, you have Sears stores everywhere. Every city of 100,000 people, there was a Sears store. And he said, you know, we ought to open up Dean Witter offices in all these Sears stores, and that’s what they did. And it grew and grew. And then they came to the point that Purcell convinced Sears, let’s spin it out and take this company public. So Morgan Stanley was chosen to be the lead underwriter on the spin-out of Dean Witter from Sears. So Dick Fisher calls me and I meet Purcell, who I liked, and I looked at their business and the information they were getting from clients versus what we were getting. And they were in every, well, how many Sears stores are there? They were everywhere. RITHOLTZ: At their peak, I think there were like 3,000 something. MACK: Yeah. So they had better information. RITHOLTZ: Yeah. MACK: So, you know, we talked and talked. And finally, we came to the conclusion on a handshake to do the deal. Sears and Dean Witter was much larger in market cap than Morgan Stanley. So it was agreed upon, and he wouldn’t do it without being the CEO. And we had a couple of dinners in New York with Dick Fisher and him, Ed Brennan. And to get the deal done, he had to be the CEO. So Fisher says to me in a private meeting in his office, I’m not going to let you do this trip or do this management training. I said, well, Dick, at that point, it’s not our firm, it’s shareholders’ firm. And for me to say that to Dick Fisher was kind of ridiculous because he was always teaching me about the business. And he was a wonderful man and a smart man. So I said, look, this is what makes sense for shareholders. I’ll take the number two job. Phil is a good guy. I’ll get along with him. And let’s do this merger. And we did. And what we also inherited when we did that merger was Discover card. RITHOLTZ: Which was also a money machine. MACK: It was a money machine. But you know, we clashed, and we clashed in the sense, like I said I think earlier, if I were out in Sacramento, seeing the state funds of California, and I had an extra hour, I would drop by, you know, the local office, the Morgan Stanley Dean Witter office, and go and talk to a salesman. And clearly, you know, salesmen who are on commission, by and large, do a good job, but always have complaints. And I heard the complaints and I came back and I talked to the manager of all retail, and I talked to Purcell. And then Purcell said to me, you know, John, you can’t do that. I said, what do you mean I can’t do that? You can’t just drop into office and talk to them. I said, well, last time I checked, you know, you’re the CEO, but I’m president of the firm. I’m in Sacramento, seeing Safeway stores, and you’re telling me I can’t go into the office and talk to them? He said, well, you know, Ed Brennan would never do that at Sears. And I said, you know, this is not serious. And so right then, we knew we had an issue. RITHOLTZ: Right. He was very risk averse and you were very hands-on. MACK: Right. RITHOLTZ: It seems like from day one, a clash of the Titans was teeing up. MACK: Yeah. But not from day one. I mean, look, they had built a great business in retail, Dean Witter. They had brokers all over the country doing business. They didn’t have an international business. I think they thought international was going to Canada. It was just two different cultures. And no one challenged or spoke up either to a guy named Jimmy who ran the retail business or, clearly, Purcell who ran both retail institution and the credit card business. And my view at Morgan Stanley and I did this with Dick Jake Fisher, and people did it with me. In my office, I don’t care what you say to me. I want to hear it and it didn’t matter whether you didn’t do that. And that was the big cultural change. RITHOLTZ: So given the sort of head to head in terms of culture, Purcell’s team, at least for a while, seem to have won. You eventually came to realize he was reducing your authority — MACK: Right. RITHOLTZ: — step by step. And at a certain point, you’re like, I don’t want to just be a figurehead. MACK: Right. RITHOLTZ: And so you resigned. MACK: Right. RITHOLTZ: Tell us what that was like too, you’d been at Morgan Stanley for quite a while. MACK: Yeah. Well, it was difficult, but I couldn’t stay there under a philosophy or a management style where you’re not allowed to go to your boss and tell them, you know, I think you’re a jerk. And I had a number of people say that to me and I didn’t get even with them. I just changed some of the things. Sometimes they were right. I wasn’t sure. It’s just two different cultures. I mean, Morgan Stanley built its business on telling clients exactly what they thought. They didn’t sugarcoat it. They didn’t try to say, you know, maybe a little this, a little that. They told the client, these are the issues. And that’s the way I grew up, and that’s the way Dick Fisher was. So as much as I tried to change, I was miserable. I couldn’t do it. And he put me in charge of the retail system, but everything was bounced through him before I could make any decisions. Look, it’s their style, it had been successful. The retail business was important to the firm. And by putting retail and institution together, we had tremendous clout. But from a managerial point of view, it’s not the culture I wanted to be in. RITHOLTZ: Let’s talk a little bit about a period where you were just bored golfing. You leave Morgan Stanley. You’re really not sure what the next chapter in your life is going to be. And then you get a phone call about the mess that was Credit Suisse. MACK: Right. RITHOLTZ: What made you attracted to coming in and trying to clean up Credit Suisse First Boston? MACK: Well, I got a call from Lionel Pincus and I assume — RITHOLTZ: From Warburg Pincus? MACK: Right. They had a big investment with the Swiss and they were not happy with what was going on. So I met with him, and I met other people in the management of Credit Suisse. And I said to Christy, I would rather do this job and regret it than not do this job and regret it. So that’s how I made the decision. RITHOLTZ: Regret minimization framework. MACK: Exactly. RITHOLTZ: A good way to think about it. We should talk more about your wife because it seems like she regularly gives you good advice and send you off to apologize for something you said. MACK: That’s true. RITHOLTZ: And you talk about that in the book. We’ll circle back to that later. So I’m amused by the headline, Wall Street Fears Big Mack Attack. What was the expectation post Morgan Stanley? What did the street think you’re going to come in and do with Credit Suisse? MACK: Well, in Morgan Stanley when I thought, especially in the fixed income division and at that time, it’s the only thing I ran, that we were too fat. You know, we need to do a reduction. So I did and — RITHOLTZ: And this isn’t just headcount. You described some pretty egregious spending — MACK: Oh, yeah. RITHOLTZ: — going on at Credit Suisse. MACK: Yeah. Well, it was totally out of control. And you know, the Swiss were kind of absentee landlords. And they were used to getting all this money in a Swiss bank account and a lot of money coming in, I assume, from other parts of the world. So it was pretty easy when I got there, that we had to do some headcount reduction. When I got there, through my bankers who had worked for me at Morgan Stanley, who were big in technology, Frank Quattrone — RITHOLTZ: Sure. Giant. MACK: — and his team. And when I saw what kind of money they were making, it was mind-boggling. So I flew out to see them and I said, look, guys, I’ll pay you a lot of money. There’s no question about that. But what you’re doing, and the amount of money you’re making now versus the rest of the firm, and using the balance sheet in the firm is unacceptable. So we’re going to have to figure out a way. I want you to make a lot of money. I think it’s a great motivator. But this is totally out of control. And I wish I could remember exactly some of the numbers, but they were numbers like I’d never seen before. RITHOLTZ: It was order of magnitudes larger than the rest of the street? MACK: It’s big. They got a piece of every deal. They did. RITHOLTZ: Personally? MACK: Personally. So you know, one of them says, you know, John, this is in our contract. But I think this compensation is way out of kilter. And just to add a little color to this, when I said to them I want to come out and I want you to come to New York, and we got to talk about these contracts. And this is after 9/11. And they say, well, we’re afraid to do that. I said, well, tell me why. Well, after 9/11, we don’t go to New York. I said, okay, pick a city, I’ll meet you in the city. So I met them in Denver. When I think about that, how absurd that is. So I flew out to Denver, and I took Steve Volk who had been at Shearman & Sterling as the lead lawyer, lead partner. He had joined me to help clean up Credit Suisse. So I sit with George Boutros, Quattrone and I think a guy named Brady, and I said, look, I want you to make a lot of money. I don’t have any issue with that. But this is craziness and I can’t do that. And they said, well, look, it may be craziness, but that’s our contract. I said, it may be your contract and I’ll see you in court and we’ll fight it out. And I gave up the contracts, but I still paid them a lot of money. But you can’t create a culture when you have one-offs doing whatever they want to do. RITHOLTZ: You described it as anyone with a personal fiefdom is a terrible idea for a firm. MACK: Absolutely. And they’re good. They were smart. You would like a room full of Frank Quattrones. But you got to be managed and you got to be a team player. RITHOLTZ: So someone said to you around this time, hey, we’ve given up a lot of money. What about you, John, what have you given up? MACK: Yeah. RITHOLTZ: And what was your response? MACK: I gave up the contract. RITHOLTZ: So you gave up about a third of your salary? MACK: Yeah, I did. RITHOLTZ: That’s a big chunk of cash. MACK: But if you’re going to ask people to give up their contract, you can’t be different than them. This term that I run from Tom DeLong, it’s a one-firm firm, we all have to be in it together. So for me to keep the contract, it’s just not the right thing to do. And also, I learned so much from Dick Fisher. I’m looking way down the road. I’m not looking about what’s going to happen next week or two weeks from now. RITHOLTZ: Well, that’s a good strategy in investing to say the very least. You wrote in the book, the Swiss and Swiss bankers were unlike any other bankers you work with in the U.K., in China, in Japan. What made the Swiss so much of a one-off? MACK: Well, they were very independent. They had a lock on certain clients, whether it was leaders out of the Middle East or oligarchs in Russia, they got a lot of money coming in because they were Swiss. They had a great franchise, and they really lived off their private banking business. And in their investment banking business, they had a guy who was very talented, very smart named Allen Wheat and they had other people that come in. But everyone was running it for their own return into their own pocket. And so when I got there, I cut commissions. I got Frank and his guys to give up some of their money. And someone said, you know, we’re cutting commissions and getting less. Will you give up your contract? And I did. So it just wasn’t being managed. And the Swiss, you know, they make a lot of money because they get money from all the places that maybe JPMorgan and others wouldn’t take. They did a lot of investing with that money. They got to carry on some of it. It’s a great system for running a very profitable business. But the world was changing, and disclosure was becoming more and more open. People want to know, you know, who has the money, where’s it going, how’s money being transferred. And we finally got that to start moving and changing in Switzerland. And I was pretty tough on them. And of course, they thought I was the most arrogant person they ever met, and I thought they were the dumbest people I’ve ever met so — RITHOLTZ: In the book, you described actually saying that to their face. MACK: I did. RITHOLTZ: Given how secretive they are and how less than team focus they were, you knew this match wasn’t going to last forever. How long did you last at Credit Suisse? MACK: I think I lasted at least two years, maybe three. RITHOLTZ: Long enough to start showing a profit in the firm. MACK: Oh, yeah. We started making money. It was great. I mean, I remember the Olayan Group out of the Middle East said to me, and they were a huge investor in Credit Suisse, John, you’ve done a great job. We’re finally making money again. But I can’t take people telling me, you know, you don’t have access for this, you don’t have access for that. My view, which drove him crazy, was to open up their vault and let the European Jews come in and say how much money Credit Suisse took when World War II started. RITHOLTZ: Right. MACK: You know, how about the paintings they had? What’s a bank doing with a Renoir in a safe? RITHOLTZ: What was the response to that? MACK: They didn’t like it. RITHOLTZ: Yeah. I can imagine. MACK: Yeah. RITHOLTZ: So you ended up leaving Credit Suisse not long after. MACK: Well, they wouldn’t renew my contract. RITHOLTZ: Right. So it wasn’t like you were out and then fired. It was after your contract ended. MACK: No, I was fired. RITHOLTZ: So non-renewal and what was the firing like? Tell us a little bit about that. Was it relatively polite and pleasant? The Swiss, they’re not quite German, they’re not quite French, their customs are a little bit different than the rest of Europe. MACK: Well, when I went to Credit Suisse, they said that I could pick someone that I liked and trusted, a friend to go on the board. And I asked a guy named Tom Bell, who’s a close friend of mine, he used to run Y&R advertising agency, and then he ran Cousins Properties in Atlanta, to go on the board. Then he called me after their meeting and said, John, be prepared, they’re going to fire you tomorrow. I said, well, thanks for heads-up. So I went in, they fired me. And I sat and I said, you know, Walter, what do you think of this? Trying to get them to talk, but they didn’t want any part of talking. And look, you know, I don’t have any issue with the firm. I guess you could say I was aggressive or obnoxious, one or the other. But we turned the place around. RITHOLTZ: Right. MACK: We started making money. But, look, I don’t think in general, we have to ask my friends and people who know me. I don’t think I’m arrogant. But clearly, I came across as arrogant know-it-all. And they shot me so, you know — RITHOLTZ: But you had done a good job there. Let’s talk a bit about Mack the Knife, right? MACK: Right. RITHOLTZ: So there’s Chainsaw Al, there’s Neutron Jack. I don’t get the sense that you were as blase about having to reduce headcounts as some other CEOs were. MACK: Yeah. RITHOLTZ: It struck me that Mack the Knife sort of rankled you a little bit, at least that’s how it comes across in the book. MACK: Yeah. I didn’t mind it. I mean, being known as Mack the Knife, it kind of built a reputation for me. I’d go to a bar somewhere, I’d go to Christmas party with a lot of Wall Street guys, and invariably, someone would be pointing and says Mack the Knife. RITHOLTZ: Right. MACK: I have an ego. I like that. I am Mack the Knife. RITHOLTZ: That’s pretty good. So now, you get fired at Credit Suisse. MACK: Yeah. RITHOLTZ: And meanwhile, Morgan Stanley run by the somewhat risk averse, Phil Purcell, starts falling behind all their competitors. MACK: Right. RITHOLTZ: And lo and behold, there is an agitation to have some change — MACK: Right. RITHOLTZ: — at Morgan Stanley Dean Witter. Tell us what happens next. MACK: Well, I’m at Pequot which is a hedge fund with — RITHOLTZ: Art Samberg. MACK: — Art Samberg and having a good time. And Morgan Stanley is falling on. And then Parker Gilbert, who had been the chairman of the firm, and I think going all the way back, his stepfather was one of the original partners. And JPMorgan spun out and started Morgans — RITHOLTZ: Wasn’t he related to Henry Morgan also? I mean — MACK: That I don’t know. I don’t think so, but I don’t know that. Charles Morgan was related to Henry Morgan, who was not on the Management Committee, but there was a relationship going all the way back to the Morgans. So Parker got together with a number of retired partners who own a tremendous amount of Morgan Stanley/Dean Witter stock now. And they went on a campaign to force personnel out, and at the end of the day, they were successful. RITHOLTZ: And you get the phone call? MACK: Yeah. RITHOLTZ: You, again, briefly thought about it. What did your wife say to you? MACK: Well, she said I had to do it. She said, John, that firm is part of you and you’ve done so much. You got to go back and do this. RITHOLTZ: So that you return. MACK: Right. RITHOLTZ: Your first day of work, you walked into the trading room to deliver just, hey, I’m back. What is that experience like? MACK: Well, I think Christy, who’s my wife, would say, other than having our kids, it was the happiest moment of her life. She would say that, John, we grew up at Morgan Stanley. We knew the culture. And to come back, and to have people just running to get to the door to welcome us in, it was emotional. I guess a lot of it is just the circumstances. They hadn’t been managed the way I think they should have been managed. They didn’t have a connection with the leadership of the firm. They had become risk averse. And it was no longer, you know, the sense of you do well, you get rewarded. So the meritocracy thing had just dissipated away. So to walk in and have people scrambling to, you know, get to see me or — RITHOLTZ: Had it felt good? MACK: Yeah, it did. It did good. And I’ll never forget when I got up into the auditorium to talk to people and I said, you know, I always wanted to see all of you again, but I never thought I would see you by coming back in here, back to Morgan Stanley and doing it. But it was a thrill. I mean, you know, you don’t get many chances to redo, or recorrect, or change what had happened and go back the way it was. And we were able to do that, and it was a high. And you know, I get Christy and hear me. To her, as I said, other than the kids, that was the highlight of our marriage. So I got to work on it and do some other things. RITHOLTZ: And I mentioned when you first came in, and I’m sure you don’t remember this, the day you were brought in, you were doing a media tour. And I have a vivid recollection of sitting in a makeup chair in the greenroom at CNBC. MACK: CNBC. RITHOLTZ: And you and some other people blow in, hi, I’m John Mack. MACK: Right. RITHOLTZ: Hi. Nice to meet you. What was that about? I asked and someone said, oh, that’s John Mack. He just came back to run Morgan Stanley. I’m like, oh, isn’t that great? And that was, I don’t know, was it ’05? It’s like 15, 17 years ago? MACK: Yeah, something like that. Yes. RITHOLTZ: Yeah. Really, really fascinating. And you very quickly rebuilt the firm’s culture. Tell us what you did to bring back the one-firm firm — MACK: Sure. RITHOLTZ: — and the meritocracy. How did you get Morgan Stanley back on the straight and narrow again? MACK: Well, number one, you had to return it to meritocracy. And we had a lot of meetings either in big groups, small groups. Christy and I, one of the things we did early on, if there was a golf outing at Morgan Stanley with clients, if you went out, it’d be all men. And occasionally, there’d be one woman who played golf. So Christy and I said, well, let’s do things. I want women to be in charge of entertaining them than doing their own golf outings. So we got David Ledbetter and his guys come in, and we did golf lessons up in Purchase, New York for our women professionals. And then we took them down to North Carolina six or seven months later, at a club we belonged to called Landfall and we had, you know, the golf teachers come up and work with them. And the beauty of it is now the women have their own golf outing women-only, which I think is terrific. So what we tried to do is pull people together and talk about how do you make this a great firm again, because the roots are there, the bones are there. And it was about reaching out and bringing people together, and working for our clients and making sure that we treated people fairly. RITHOLTZ: So there’s a quote of yours in the book that I found fascinating. You wrote, certain risk-taking behavior multiplied exponentially when investment banks were converted from partnerships to publicly traded companies. I couldn’t agree more. MACK: Right. RITHOLTZ: Tell us your thoughts. MACK: Well, the thought was when it was a partner’s money, they were much more conservative. RITHOLTZ: They were literally joint in several liabilities, literally on the hook — MACK: Absolutely. RITHOLTZ: — if the firm lost money. That’s got to focus your attention. MACK: Oh, it does. And depending on where you were, which firm, but the culture, Morgan Stanley had been a pure investment bank, and they really didn’t have sales and trading either in equities or in fixed income. But what became apparent that firms like Salomon Brothers, were making huge inroads because Jackie Kugler at Salomon could call the CFO at IBM or AT&T and say, hear what pension funds are thinking and doing with your stock. We think there’s an opportunity you could float $100 million equity deal or bond deal. They had better information. And Morgan Stanley didn’t have that sales and trading business. We were not talking to portfolio managers as traders. We were talking to them as we’re pricing AT&T at 7-1As (ph). How many do you want? That’s the way it worked. But other firms, including Goldman Sachs, they were a two-way shop. They were buying and selling debt and equities with pension funds, and get a lot of information. What were they looking for? And what were they doing? And then you take that back and you show it to New Jersey Bell Telephone or you show it to, you know, AT&T or IBM. You’re bringing that CFO or that treasurer more information, so he can figure out what’s the next move for AT&T or Southern Bell? RITHOLTZ: So was it inevitable that these firms had to go public just so they had access to those pools of capital to expand into trading and underwriting and everything else? MACK: Yeah, because at the end of the day, the risk component went up dramatically. And you know, if you go through the crisis, probably if you were not a public company, you’d have wiped out the partnership. So you needed to have a strong base of capital and selling equity, and being in the public market gave you that. It also gave you the liquidity to go in the market to raise more equity if you need it, or do a bond do. RITHOLTZ: I used to think, hey, big mistake going from partnership to public — MACK: Right. RITHOLTZ: — because of the change in risk profile. But it sort of sounds like it was inevitable that all these partnerships would eventually go public. MACK: Yeah. Well, you know, what’s interesting, if you look at Lazard, they still do business. It was truncated. It’s not what it used to be. If you’re a CFO or a CEO, you want to know what are the hedge funds doing? State of California, State of New York, big pools of money in their pension funds, what are they thinking? What do they need? You want that kind of data. You want to know what are investors looking for? And I think, you know, if you look back, and it was difficult, we went through a hard time. The Dean Witter merger really changed the firm. Now, you had unbelievable banking, with the retail. And the amount of information that you could bring to a CEO or CFO about markets and then the distribution network you now had was a huge advantage. And I think that’s one of the reasons Morgan Stanley has done so well. RITHOLTZ: Really interesting. We’ll talk about books in a little while, but you seem to throughout your book, quote Ron Chernow’s House of Morgan a lot. MACK: Right. RITHOLTZ: How helpful was that in doing your research to write this? MACK: Well, I had read the book years ago, so I didn’t do a lot of work to dig down. So I would say very little. RITHOLTZ: Oh, really? MACK: Yeah. RITHOLTZ: Because he just goes berserk on the research side. MACK: That’s right. RITHOLTZ: Everything he does is so deeply and richly researched. MACK: He was never a bond salesman like me. RITHOLTZ: Well, you were actually on the inside, so it’s a little different. One of the other things you wrote was everybody got the financial crisis wrong. And in the run-up to it, people just didn’t expect the bottom draw (ph) out that much. Tell us a little bit about what took place with Morgan Stanley, leading up to the financial crisis? MACK: Well, number one, we had too much risk. There was no question about that. But we were not alone. And we did not have a fortress balance sheet like a JPMorgan would have or even a Citibank. You know, no one knows when the bullets come in, but the bullet came and shot a lot of us. And a lot of these companies either merged or went out of business. And all I can say is thank God for the Japanese and what they did. I mean, that was the lifesaver. They got us through. RITHOLTZ: Thank you, Mitsubishi with Morgan Stanley. MACK: Yeah. And as I said to you earlier, they remembered our culture because we would always have Japanese trainees. And they stood up, and that’s what saved us. RITHOLTZ: So you tell a story in the book, you have Hank Paulson, Ben Bernanke, and Tim Geithner coming to you to say, hey, you guys have to find a merger partner. MACK: Right. RITHOLTZ: And the response is we have $180 billion in capital. This is going to be a painful period, but we’ll survive. MACK: Right. RITHOLTZ: What was their response? MACK: They didn’t care. RITHOLTZ: Didn’t care? MACK: No. RITHOLTZ: Get more capital. MACK: Absolutely. RITHOLTZ: So you reach out to Bank of Mitsubishi. MACK: Right. RITHOLTZ: And you’re waiting for the term sheet to come in. MACK: Right. RITHOLTZ: And it’s midnight, and it’s 2:00, and it’s 4:00 a.m. It’s 6:00 a.m. And then Tim Geithner calls, and then Hank Paulson calls, and then a third time, Tim Geithner calls. What happens next? MACK: Well, what happens, the check flew in to Boston, and we had to send one of our bankers up to pick up the check and fly back. So he was at home. It’s over the weekend. And he went up in his dungarees and running shoes, and picked up a check for, I don’t know, a billion some, and brought it down. I got a copy of it framed in my office back at the townhouse. The Japanese saved us. They saved us because they remember our culture. And we used to train tons of Japanese bankers at Morgan Stanley. RITHOLTZ: So you’re waiting for the final word from Bank of Mitsubishi. MACK: Right. RITHOLTZ: I think you know where I’m going. MACK: Yeah. RITHOLTZ: And now, Geithner calls for the umpteenth time and your secretary pokes her head and then says, it was the head of New York Fed — MACK: Of New York Fed. Right. RITHOLTZ: — Tim Geithner and he’s insistent. MACK: Right. RITHOLTZ: And you basically said, we’re going to figure this out ourselves. MACK: Yeah. RITHOLTZ: And you did. MACK: And we did. Yeah. RITHOLTZ: And what’s your relationship with Tim now? MACK: I liked him. RITHOLTZ: Yeah. MACK: I mean, listen, to me, I hope it’s not personal to him. And the point was I’m trying to save the firm. I can’t take all these calls when I’m talking to the Japanese. So you know, we’re under the gun. He’s a decent guy. But he had his job to do and I had my job to do. And at the end of the day, it worked. RITHOLTZ: And in fact, the Treasury Department taps Morgan Stanley to help with the AIG bailout. MACK: Yeah, they did. RITHOLTZ: So that was a good working relationship. You actually had a good relationship with Hank Paulson — MACK: Yeah. RITHOLTZ: — from when he was CEO of Goldman. MACK: Yeah, he’s the best. Well, look, he’s honest. He’s smart. He’s straightforward. He gets things done. I have a lot of respect for Hank Paulson. RITHOLTZ: Before we get to our favorite questions, there were a couple of little curveballs I wanted to throw you. There’s a story in the book, you talked about somebody who you go to, who you know is a giant Duke basketball fan. And you asked him to give up part of his bonus, as you were doing. MACK: Right. RITHOLTZ: And very begrudgingly, he did it for the team. MACK: Right. RITHOLTZ: And then you get Coach K involved. Tell us that story. It’s charming. MACK: Well, he was a huge fan of Duke and I needed him onboard with what I was trying to do. And he gave up some power and money to accommodate me. And Mike Krzyzewski is a good friend of mine, a close friend of mine. So I called Coach K and I said, Mike, do me a favor. Will you call this gentleman and just tell him how much I appreciate what he’s done and that you are happy that you helped my friend John Mack out? So Mike calls the guy and he said, look, I want to tell you what you did is really something. John Mack is, he didn’t call me an a-hole, he said John Mack is a selfish tough guy, and what you did just warmed his heart. And I want to thank you because he’s my friend. The salesman was on cloud nine. RITHOLTZ: I can imagine. And then another curveball I got to ask you — MACK: Sure. RITHOLTZ: — you once stole Barton Biggs’ car. MACK: We hid it. His car was a dump. RITHOLTZ: Right. It was a clunker. He had a broken rear window. MACK: Yeah. RITHOLTZ: He just taped it off. He didn’t even replace the window. MACK: Yeah, we hid the car and he was like — RITHOLTZ: And then you had a make-believe sheriff from North Carolina call him? MACK: Right. Yeah. RITHOLTZ: And what was his reaction? MACK: Well, he laughed at the end, but he had no idea what was going on. And Bart is a wonderful man, but he is a good guy to pull pranks on. So what I’ve learned in pulling pranks — RITHOLTZ: Of which there are numerous examples in the book. MACK: But here’s what I’ve learned, though. When the prank is on you, laugh. Because everyone is trying to get me in one way or another. RITHOLTZ: Very, very funny. So we only have a few minutes left. MACK: Sure. RITHOLTZ: Let me jump to some of my favorite questions that we ask all of our guests. Tell us about your early mentors who helped to shape your career. MACK: Number one, Dick Fisher, just hands down. He would call me and say, look, John, you got to do this. I know you’re aggressive. You’re a great salesman. You can’t manage people and try to threaten them and scare them. You got to ease up. So he did that. Also, I could go to him if I had a problem, a question. So he was without question, my best mentor. And the other person is not that she mentored me, she’s my wife. She’ll say, John, you know, you want to reach out to that person and you know their kid is sick. You got him into Children’s Hospital, the Morgan Stanley Children’s Hospital. So she’s been a wonderful partner in telling me, you know, you’re being a little too aggressive, back down. And I think she’s right, I have softened up. Yeah, I think I have softened up. And that’s another thing. Morgan Stanley got behind us and we built this Children’s Hospital, which the employees love. They go up there on the weekends, and they read stories to kids. RITHOLTZ: Wow. MACK: That’s how you build a culture, that you do things like that. And I’m trying to thank Frank Bennack who’s at Hearst Corporation. He said to me he thought that was the best sign of corporate philanthropy he’s ever seen. So if some time you’re up near New York Presbyterian Uptown, if you go into the Children’s Hospital, Morgan Stanley Children’s, you’ll see on the wall that Morgan Stanley gave a lot of money. And then you’ll see names of hedge funds and other clients, when they heard what we’re doing, they gave money. And you know, New York is huge. You got, you know, the Philadelphia Children’s Hospital. You got them in Boston. New York City didn’t have a standalone children’s hospital. And our employees will go up there now and read books to the kids on the weekend sometimes. RITHOLTZ: Wow. MACK: It is a wonderful thing we did. We’re really, really happy with it. RITHOLTZ: You should be very proud of that. You mentioned books. Let’s talk about some of your favorites and what are you reading currently. MACK: Well, actually, I just read my book again. My favorite book all-time is Gone with the Wind. Can you believe that? RITHOLTZ: That’s a big book, right? MACK: It is a big book. So I’m taking history of the south at Duke University. And one of the things you had to do, you had to read 50 pages every other day about a history or something with a sound. So I picked up Gone with the Wind. I didn’t put it down until I finished it. RITHOLTZ: Really? Wow. MACK: If you haven’t read it, you got to read it. RITHOLTZ: Seen the movie, never read the book. MACK: The book is awesome. RITHOLTZ: Really? MACK: It’s just awesome. So — RITHOLTZ: What sort of advice would you give to a recent college graduate who is interested in a career in finance or investing? MACK: Well, number one, you have to pursue it. You got to get in the door. Hopefully, you have a background that will help you. If your education, let’s say you’re a history major, I was a history major. If your education doesn’t put you naturally into that glide path, then take courses and get into that glide path. Go to school at night, get your MBA, that helps. But more importantly, figure out how do you get to know people within that company. Make sure your job you have now, you’ve performed well in it. And get to know people in the company and get introduced by them to the head of a division or department. But you can get in it. I mean, there’s a lot of ways to get in this business. And one way of doing it, go work for JPMorgan, their asset management business. Go work for a hedge fund. Go work for a lot of people who are in the business and learn kind of the day-to-day sales and training business. And if you want to be an M&A specialist, my advice is you need to have a degree in accounting or an MBA where you can really zero in and have the training that you need to do and do that. You can do that business. If you didn’t have any experience, if they give you a chance, my point is you got to give them enough information that they want to give you a chance. And the way you do that is do extra work, or work for a hedge fund, or work for, you know, whoever it may be and you’ll get that shot. RITHOLTZ: And our last question, what do you know about the world of investing today that you wish you knew 50 years or so ago, when you were first getting started? MACK: That great companies that you invest in, you should hold. And I always was looking for the profit and I made money on it. But some of these companies, well, take Apple Computer. RITHOLTZ: Perfect example. MACK: I’ll give you a great example. My son, 11 years old, Morgan Stanley takes Apple public. I buy him a computer. He says, dad, this is a great company, I want to buy stock in it. And he’s like 11 or 12 years old, and he buys shares on it. I think that small purchase is well worth over a couple million dollars when he did. RITHOLTZ: Wow. MACK: So he understood great companies and his father did. You hold them. He’s never sold a share. RITHOLTZ: Wow. MACK: And it’s just been a home run. So I believe — RITHOLTZ: Well, dad is a trader. The son is an investor. MACK: An investor. That’s right. A smart investor. So I believe you buy great companies and hold them, and that’s what we do now. We have a family office that helps me, we work with them. And we still meet and talk to a lot of investors. RITHOLTZ: Quite fascinating. John, thank you for being so generous with your time. We have been speaking with John Mack, former CEO of Morgan Stanley, and author of the fascinating book Up Close and All In: Life and Leadership Lessons really from a Wall Street Warrior. If you enjoy this conversation, well, be sure and check out any of our previous 500 we’ve done over the past eight or nine years. You can find those at iTunes, Spotify, YouTube, wherever you find your favorite podcasts. Sign up for my daily reading list at ritholtz.com. Follow me on Twitter @ritholtz. Check out all of the Bloomberg podcasts on Twitter at podcasts. I would be remiss if I did not thank the crack team that helps put these conversations together each week. Justin Milner is my audio engineer. Atika Valbrun is my project manager. Sean Russo is my head of Research. Paris Wald is my producer. I’m Barry Ritholtz. You’ve been listening to Masters in Business on Bloomberg Radio. END   ~~~     The post Transcript: John Mack appeared first on The Big Picture......»»

Since the tech billionaire took over Twitter two months ago, he has continuously cut costs wherever possible, including in cleaning and support staff. Billionaire Elon Musk at the 2022 Met Gala.Noam Galai/GC Images Elon Musk has continually cut costs since taking over Twitter.  The company's office in New York is without maintenance staff, leaving bathrooms uncleaned. IT support employees are also gone, creating gaps in basic needs like computer chargers. Elon Musk's drastic cost cutting at Twitter has some unexpected consequences for employees, including smelly bathrooms and no toilet paper.Over the last three days, staff in Twitter's office in the Chelsea neighborhood of New York City have been seeing the effects of the billionaire's decision to not renegotiate the contracts of facilities maintenance workers who handled in-office supplies and cleaning. Odors from uncleaned bathrooms and several clogged toilets are creeping into hallways and work spaces, according to two people familiar with the stinky situation and messages seen by Insider.Toilet paper is nowhere to be found in the office, said these people, who asked not to be identified discussing noxious topics. Meanwhile, Musk still requires nearly everyone to work in the office five days a week.There have been several requests on Slack and by email from employees for someone at the company to rectify the deteriorating bathroom situation, the people familiar said. As of Thursday afternoon, no one had received a response. A spokesperson for Twitter did not reply to a request for comment.In recent weeks, Musk has been reducing Twitter expenses more than many remaining employees expected, purportedly in an effort to save the company. Several health and wellness benefits have been cut or taken away, free food and office snacks are limited, and office space in San Francisco continues to serve as sleeping quarters and shower space to cut down on hotel costs, while other offices are closed. Even one of Twitter's three main data servers in the US was abruptly shut down last week to save money, three people familiar with the move said.  One worker in the New York office said the lack of basic office necessities like toilet paper was "just bad" and further affecting already low morale at the company. Another employee admitted that if no toilet paper is provided by the company by Thursday, workers will likely be forced to bring their own rolls from home, as colleagues briefly had to do in Twitter's San Francisco headquarters, as noted in a recent New York Times report. A new facilities team was brought in to that office last month, two people familiar with the company said, something that has yet to be afforded to workers in New York.Another issue that has cropped up due to Musk's cost cutting is the lack of an internal IT support team. Nearly all of the employees who would help colleagues on issues with work computers and software were either laid off, fired, or have resigned in Musk's two months of ownership. Remaining staff are left with little to no recourse for common issues ranging from broken computer chargers to accidentally being locked out of internal systems required to do their jobs, the two people familiar said.It's frustrating for employees who run into issues, but also a source of anxiety as it can prevent people from working for periods of time. Performance reviews now occur "basically all the time," one employee said, and high productivity continues to be the main metric for good performance.   In order to resolve issues, the main course of action is Twitter employees asking for help on one of the few remaining public group channels on Slack, most of which have been shut down (including the channel previously used to discuss health and safety concerns on Twitter). Requests are simply going out in hope that someone in leadership will notice, one of the people said, considering employees do not know who they should be addressing any of their questions or needs to.Read the original article on Business Insider.....»»