My coffee-snoot friends tell me Nespresso sucks. So I tried making a Starbucks-worthy latte, and made a huge mistake. I'm learning to make coffee. This is my new pour-over rig.Henry Blodget / Business InsiderI love my Nespresso machine, but it makes me sad to throw all those pods away.Also, my coffee-snoot friends tell me Nespresso sucks.So I'm learning to make real coffee!I'm late to the coffee game.After drinking tea most of my life, I didn't have a coffee until I was late in my fifth decade.But then I had one. And now I'm hooked. Now my craving has intensified to where, each evening, I get stoked about the next morning, when I can press the Nespresso button and get my fix.I love the simplicity and speed of my Nespresso machine. And the coffee tastes pretty good! But the pods are startlingly expensive. And it's a bummer to dump the used pods in the recycling bin.My marvelous Nespresso machine. And pods.Henry Blodget / Business InsiderAlso, my friends who are coffee snoots turn up their noses at Nespresso. These friends have "real" coffee machines, obsess about the freshness and origin of beans, and do things like measure water temperature to the degree and water-to-grounds ratios to the milli-liter.These friends also, of course, declare that the coffee served at popular chains like Starbucks is, well, swill.So imagine my surprise when, separated from my Nespresso machine by a trip, I got a Starbucks latte and found it… delicious. Way better than my Nespressos.Suddenly, I understood why people become coffee snoots!If I became a coffee snoot, I thought, maybe I could make coffee that tasted as good as Starbucks. And maybe I could reduce my environmental footprint by weaning myself from those pods.So I decided to try!I'm now a few weeks into my coffee-snoot education.The first week, I confess, did not go well.It went so not well, in fact, that my kids don't want me to tell you about it for fear that I will humiliate myself. And them.But, in the interests of maybe saving you from my mistakes, I'll tell you about it anyway.My first week as a coffee snootOne of the keys to learning a new skill is being honest with yourself about how much time, care, and effort you are willing to put into it.And as I read the (voluminous) literature about how to be a coffee snoot, I realized that there is a good reason that I love my Nespresso machine (convenience) and that, at best, I am going to make it to the coffee-snoot Little Leagues.I am never going to weigh my grounds to the gram, for example. Or measure my water temperature to the degree. Or roast my own beans. Or only use beans that have been grown in the shade. Or use only expensive, special-order white filters because the cheap, brown super-market ones affect the taste. Etc.I'm also never going to drop $8,000 on an espresso machine, especially one I have to clean every day.So I set what seemed like a modest goal for my coffee-snootiness:Make a latte that tastes as good as a Starbucks.A friend recommended I start with "the pour-over method." It seemed easy enough. So, I did.I studied the literature, learned about the best pour-over equipment, and ordered it. Then I ventured into a nearby Stumptown roastery, inspected a wall-full of beans, and — clueless — selected a bag marked "staff pick."My neighborhood Stumptown coffee-bean "staff pick." Also, a propeller grinder (sub-optimal, I gather).Henry Blodget / Business InsiderAnd then, the next morning, I made coffee!It looked and smelled good!Alas, it did not taste as good as a Starbucks latte.It didn't even taste as good as my usual Nespressos.It was fancy and sophisticated, I suppose. But thin.Disappointed, I consulted a coffee-snoot friend.Perhaps I had used the wrong grinder? (I inherited one of the ones with a little propeller blade, not a "burr grinder," and not using a burr grinder, I gather, is a sin).Perhaps I had used the wrong beans? (Ethiopia? Do they grow good coffee there?)Perhaps I hadn't used enough beans? (Maybe the two tablespoons recommended in some of the literature wasn't enough?)Perhaps I should have steamed my milk instead of frothing it in one of those whirly things?My coffee-snoot friend allowed that all of those theories — and many more — might have merit. She suggested that I keep experimenting.But she also added this:"You do know that lattes are made with espresso and that espresso and drip-coffee are different drinks?"Did I know that?Yes, um, I knew that. I think.But did it really matter that much?Well, yes, my coffee-snoot friend said. They're different.And then she explained the difference — water vs. steam, drip vs. pressure, Italy vs. France, night vs. day, etc.And, while my friend explained, I realized that the main problem I was having in trying to make a latte as good as Starbucks using "the pour-over method" was that I was basically trying to make a pie with a cake recipe.You probably saw that one coming.Yes, I feel like a moron.But, hey, I like to think it's not failure if you learn something!And I will tell you that, 10 days later, I have learned how to make pretty darn yummy pour-over coffee. Also, I'm now venturing into the land of espresso!So, stay tuned for further episodes!Read the original article on Business Insider.....»»

The banking executive told the Financial Times that his DJing side hustle is now reserved for special occasions like his daughter's wedding. Goldman boss David Solomon performing as "DJ D-Sol" in 2020.Kevin Mazur/Getty ImagesGoldman Sachs boss David Solomon told the Financial Times that DJing was still his "passion." The banking executive previously retired his "DJ D-Sol" side hustle.His gigs at music festivals sparked internal unrest at the Wall Street bank.Goldman Sach's boss David Solomon says he is still DJing as a "hobby," even though he probably won't be performing at a music festival again anytime soon.The banking executive told the Financial Times that his side gig as a professional DJ known as "DJ D-Sol," which sparked internal unrest at the Wall Street giant, is now reserved for special occasions like his daughter's wedding."My daughter got married a month and a half ago, I DJed at her wedding. It's still a hobby, it's a passion," he said."But if my doing it publicly in any way is distracting to Goldman Sachs, my number one focus is Goldman Sachs," he added.Goldman Sachs confirmed last month that Solomon had stopped DJing at public events, adding that the media interest in his high-profile side hustle had become a distraction.Solomon was often performing half a dozen times a year, including at festivals such as Lollapalooza, and even cracked Billboard's Top 100 with his first single in 2018.He told Business Insider in 2017 that DJ'ing helped him deal with the pressure of his job, but it has got him into trouble in the past, with Solomon forced to apologize in 2020 after he played a show with the Chainsmokers in the Hamptons that flouted Covid social distancing rules.Solomon's decision to stop came amid increasing discontent at the Wall Street giant over a number of issues, including his high-profile gigs.The New York Times reported earlier this year that Goldman employees helped manage Solomon's DJ'ing schedule, and one of the bank's senior partners reportedly told him that his side gig was not the right image for a top Wall Street CEO.The bank has had a tough few years, cutting thousands of jobs over the summer and losing billions on an ill-fated push into consumer banking.Goldman Sachs declined to comment when contacted by Insider.Read the original article on Business Insider.....»»

Timothée Chalamet wore a pink suit as he walked the red carpet in London. Olivia Colman and Hugh Grant also attended. Timothée Chalamet and Olivia Colman at the World Premiere of "Wonka" at The Royal Festival Hall in London, England.Alan Chapman/Dave Benett/WireImage/Scott Garfitt/Invision/APTimothée Chalamet plays Roald Dahl's famous chocolate factory owner, Willy Wonka, in "Wonka."It explores how he started his company before the events of "Charlie and the Chocolate Factory."Chalamet and the rest of the cast walked the red carpet at the movie's premiere on Tuesday night.Timothée Chalamet stars as Willy Wonka in Warner Bros.' "Wonka" prequel, which looks at the titular chocolatier before he became world-famous for his sweets, and before he met Charlie Bucket."Wonka" is helmed by "Paddington" director Paul King, and stars a number of beloved British stars, including Olivia Colman.The cast took to the red carpet for the world premiere in London on Tuesday night."Wonka" arrives in theaters on December 15 in the US.Willy Wonka himself, Timothée Chalamet, went shirtless under his pink suit.Timothée Chalamet at the world premiere of "Wonka" at Royal Festival Hall in London, England.Alan Chapman/Dave Benett/WireImageOlivia Colman, who plays Mrs. Scrubbit, wore a black dress with a flowing cape.Olivia Colman at the world premiere of "Wonka" at Royal Festival Hall in London, England.Alan Chapman/Dave Benett/WireImageHugh Grant plays Lofty, an Oompa-Loompa. He walked the carpet with his wife, Anna Elisabet Eberstein.Anna Elisabet Eberstein and Hugh Grant attend the world premiere of "Wonka" at Royal Festival Hall in London, England.Alan Chapman/Dave Benett/WireImage"The Crown" star Imelda Staunton attended the premiere to support her actor husband, Jim Carter, who plays Abacus Crunch.Imelda Staunton and Jim Carter attend the world premiere of "Wonka" at Royal Festival Hall in London, England.Alan Chapman/Dave Benett/WireImageKeegan-Michael Key plays the chief of police.Keegan-Michael Key attends the world premiere of "Wonka" at Royal Festival Hall in London, England.Alan Chapman/Dave Benett/WireImage"Paddington" star Sally Hawkins plays Willy Wonka's mother.Sally Hawkins attends the world premiere of "Wonka" at Royal Festival Hall in London, England.Alan Chapman/Dave Benett/WireImageRowan Atkinson stars as a priest, Father Julius.Rowan Atkinson attends the world premiere of "Wonka" at Royal Festival Hall in London, England.Alan Chapman/Dave Benett/WireImage"Ghosts" star Mathew Baynton plays one of Wonka's rivals, Ficklegruber.Mathew Baynton attends the world premiere of "Wonka" at Royal Festival Hall in London, England.Alan Chapman/Dave Benett/WireImageDirector Paul King is best known for helming "Paddington" and "Paddington 2."Paul King attends the world premiere of "Wonka" at Royal Festival Hall in London, England.Alan Chapman/Dave Benett/WireImage"Wonka" writer Simon Farnaby also cowrote "Paddington 2."Simon Farnaby attends the world premiere of "Wonka" at The Royal Festival Hall in London, England.Alan Chapman/Dave Benett/WireImage)Former "Great British Baking Show" host Matt Lucas plays another of Wonka's rivals, Prodnose.Matt Lucas poses for photographers upon arrival at the world premiere of "Wonka."Scott Garfitt/Invision/APPaterson Joseph plays yet another Wonka rival, Arthur Slugworth.Paterson Joseph at the world premiere of "Wonka" in London.Scott Garfitt/Invision/AP"Ted Lasso" star Nick Mohammed brought his kids to the premiere.Nick Mohammed and sons Finn and Arthur attend the world premiere of "Wonka" at Royal Festival Hall in London, England.Alan Chapman/Dave Benett/WireImageThe "Wonka" cast, director, and producers all posed together.The cast and producers of "Wonka" at the world premiere at Royal Festival Hall in London, England.Alan Chapman/Dave Benett/WireImageRead the original article on Business Insider.....»»

Lifestyle changes that could prevent cancer include exercising, not drinking alcohol, and limiting how much red meat, processed food, and sugar you eat. One of the cancer prevention recommendations is to move more.The Good Brigade/ GettyResearchers studied whether cancer prevention tips actually lowered the risk of the disease.People who most closely followed seven recommendations appeared to have a lower cancer risk.The recommendations include maintaining a healthy weight and limiting the consumption of red meat.Researchers say seven lifestyle habits, including limiting red meat, doing more exercise, and not drinking alcohol, are linked to a lower risk of developing cancer.The study, published in BMC Medicine on Tuesday, assessed whether following cancer prevention recommendations set in 2018 by the World Cancer Research Fund and the American Institute for Cancer Research did indeed lower the risk of developing the disease.The seven 2018 WCRF/AICR recommendations used in the study were:Be a healthy weightMove moreEat a better dietAvoid high calorie foods and drinksLimit consumption of red and processed meatLimit consumption of sugary sweetened drinksDon't drink alcoholResearchers from Newcastle University, UK, looked at the BMI, waist circumference, and self-reported data on diet and exercise from 94,778 adults taking part in the UK Biobank study, collected between 2006 and 2010, and gave each participant a score out of seven. Participants were given zero points if they did not adhere to a recommendation, half a point if they partially adhered, and one point if they fully adhered. The average score was 3.8.The researchers then followed each subject until they were either diagnosed with cancer, passed away, or until the follow-up period ended (which was July 2019 for England and Wales, and October 2015 for Scotland).Following the recommendations appeared to lower the risk of cancerOf the participants, 7,296, or 8%, developed cancer during the follow-up period, most commonly prostate, breast, and colorectal cancers.The researchers found that participants who scored highly — between 4.5 and seven points — had a 16% lower risk of all cancers combined than those with a score of less than 3.5, and that even participants scoring between 3.75 and 4.25 points had an 8% lower risk of developing all cancers combined.They also found that each one-point increase in participants' scores was associated with a 7% reduction of developing all cancers combined, as well as a 10% lower risk of breast cancer, 10% lower risk of colorectal cancer, and a "significantly reduced risk" of kidney, oesophageal, ovarian, liver, and gallbladder cancers.The study's authors acknowledge that their study is observational, and so doesn't prove following the recommendations lower the risk of cancer. More research is needed to investigate the specific impacts of each of lifestyle factor on cancer risk.Study co-author Fiona Malcomson, a research associate at Newcastle University's Human Nutrition Research Centre, told Insider: "following the recommendations promotes a healthier lifestyle, which overall reduces our risk of non-communicable diseases including cancer, cardiovascular disease, and type 2 diabetes. "For example, the recommendation to be a healthy body weight comes from strong evidence that greater body fatness increases our cancer risk in several ways, for example by promoting inflammation and by releasing hormones such as estrogen."The World Cancer Research Fund's tips for following their cancer prevention recommendations The WCRF recommends that to prevent cancer, people should be physically active for at least 150 minutes a week, and try to sit less.They also recommend people eat healthy, whole foods — making wholegrains, vegetables, fruit, and legumes "a major part" of their daily diet — while avoiding fast food and processed foods and eating no more than three portions of red meat per week. They said it's best to not drink alcohol at all to prevent cancer, and to drink mostly water.The WCRF/AICR makes two further recommendations for cancer prevention, which were not used in the study as there was not enough data: mothers breastfeeding their babies if possible, and people getting their nutrients from their diets rather than using supplements to protect against cancer.They also recommend not smoking and avoiding excess sun to reduce cancer risk.Malcomson said: "People should aim to follow as many of the Cancer Prevention Recommendations as they can to reduce their risk of cancer and other non-communicable diseases. However, any change made will have a positive impact on reducing cancer risk, for example increasing your adherence score by half a point by going from eating 2.5 servings of fruits and vegetables per day to reaching the recommended five servings."Read the original article on Business Insider.....»»

A man cursed at Dubai airport staff who were slow to bring his mom a wheelchair. A court has sentenced him to three months in jail, reports say. Departures at Dubai International Airport in February 2022.KARIM SAHIB/AFP via Getty ImagesA man was sentenced to three months in a Dubai prison after he insulted airport staff last year.The incident happened when airport staff were slow to bring his mom a wheelchair, reports say.The UAE prohibits the use of explicit language, with penalties of up to a year in jail.A British tourist was sentenced to three months in a Dubai prison after he insulted airport staff who were slow to bring his mom a wheelchair, according to The National.The newspaper said the unnamed man was handed the sentence earlier this month by the Dubai Court of Appeal after his appeal against a 10,000 UAE Dirham fine ($2,723) was rejected.He was initially fined for the incident, in which he cursed at an airport employee in a transit area of Dubai International Airport in February last year, according to MailOnline.The court heard that the man became abusive after airline staff said they could not immediately provide a wheelchair to ferry his mother to a shuttle bus, that would then transport them to a different terminal, MailOnline reported."I saw the traveler repeatedly asking an airport desk employee about the wheelchair and expected that he might have not understood her explanation," the airport employee said in court, per The National."When I tried to explain it to him, he insulted me using very bad language," the airport employee said, according to the newspaper.According to MailOnline, the employee asked the man not to use curse words, to which he replied that he did not care.The employee then called the police, the newspaper reported.Dubai's court system did not immediately respond to Business Insider's request for comment.The use of explicit language in public is prohibited in the UAE, with the use of specific curse words carrying a punishment of up to a year in prison and fines as high as 10,000 dirhams.In the past, tourists have been detained in Dubai over cursing and otherwise offensive behavior, even if sent via text.In February 2021, a British woman was detained after she was caught sending a rude message to her roommate in a WhatsApp message.Last month, a New York student was sentenced to a year in prison after reportedly touching a Dubai airport security guard on the arm when officers refused to help her put back on a medical brace after a security check.The woman ultimately had her sentence commuted and was allowed to leave Dubai shortly after her sentencing.Read the original article on Business Insider.....»»

Satellite imagery published by The War Zone showed damage to defenses in the port of Sevastopol, occupied Crimea. Russian warships during rehearsal for a Navy Day parade in the Crimean port of Sevastopol, in July 2014.REUTERS/StringerA big storm over occupied Crimea damaged Russia's naval defenses there, a report said.Satellite images showed damage to booms and barges meant to defend from sea drones.The gap presents a vulnerability.Russia's defenses at its naval base in the Black Sea have been significantly damaged in a storm, according to satellite imagery seen by The War Zone.It could offer an opportunity for Ukraine.The outlet published before-and-after satellite imagery from the company Planet Labs showing the port at Sevastopol.The images appeared to show damage to a system it said showed damage to a system of booms and barges erected by Russia after Ukraine attacked naval vessels there with seaborne drones.Sevastopol is Russia's main naval base in Crimea, the Ukrainian peninsula it has occupied since 2014.The photos showed fewer defenses in the water than there were earlier this month, before the storm which tore across Ukraine and caused significant disruption to the war effort on both sides.They showed some booms were detached while some of the barges are not visible anymore, The War Zone wrote.Russian officials in Crimea announced a state of emergency after the storm hit.At least one person died in Crimea while flooding was also reported, according to Reuters.It is not clear how long it will take Russia to repair the defenses, and Russian officials have described damage in Crimea but not mentioned the defenses, The War Zone reported.Sevastopol has been a favored target for Ukraine — so much so that Russia shifted some targets further away.Russia has moved most of its ships away from the port after Ukraine ramped up its attacks, according to an analysis of satellite imagery made in October.Basil Germond, a maritime security expert at the UK's Lancaster University, told Business Insider's Mia Jankowicz that the move showed Russia had "clearly lost its control" over the Black Sea.UK intelligence officials also said last month that Russia had moved some naval operations away from Crimea as Ukraine continued its attacks.Recent Ukrainian action against Crimea included a large airstrike on the headquarters of the Black Sea fleet in Sevastopol in September.Another attack damaged a submarine and a landing craft.Ukraine has also been using sea drones to target the fleet, including an attack earlier this month which Ukraine said hit two Russian vessels.Elite Ukrainian troops have also landed on Crimea and conducted raids some there, Ukraine says.Read the original article on Business Insider.....»»

Russia's birthrates have been falling for decades, and the Ukraine war has made it worse. President Vladimir Putin was on the screen during the 15th World Russian People's Congress at the State Kremlin Palace on November 28, 2023, in Moscow.Contributor/Getty ImagesPresident Vladimir Putin is urging Russians to have more children. "Large families must become the norm," Putin said in a speech Tuesday. Russian birthrates are falling amid war in Ukraine and a deepening economic crisis. Russian President Vladimir Putin is urging women to have as many as eight children after so many Russians are dying in his war with Ukraine, worsening the country's spiraling population crisis.Addressing the World Russian People's Council in Moscow Tuesday, Putin said the country must return to a time when large families were the norm."Many of our grandmothers and great-grandmothers, had seven, eight, or even more children," said Putin."Let us preserve and revive these excellent traditions. Large families must become the norm, a way of life for all of Russia's people. The family is not just the foundation of the state and society, it is a spiritual phenomenon, a source of morality."He continued: "Preserving and increasing the population of Russia is our goal for the coming decades and even generations ahead. This is the future of the Russian world, the millennium-old, eternal Russia."Putin's remarks come amid decades of falling birthrates in Russia that have been made worse by its invasion of Ukraine and the subsequent economic fallout.The war in Ukraine has led an estimated 900,000 people to flee the country. A further 300,000 people have been enlisted to fight in Ukraine, deepening Russia's workforce crisis. Around 50,000 Russian men are believed to have died in the war in Ukraine, according to a statistical analysis done by Russian media outlets, Mediazona and Meduza in July. In October, the UK's Ministry of Defence reported that Russia has likely suffered up to 290,000 soldiers killed or wounded in the war against Ukraine.Since coming into power 24 years ago, Putin has been seeking to boost Russia's birthrate by introducing a range of government incentives for those who have children, including payouts for families who have more than one child.But the measures have had little to no impact, with figures from Rosstat, Russia's federal statistics service, putting the Russian population at 146,447,424 as of January 1, less than it was in 1999 when Putin first became president, Le Monde reported."Russia lacks workers," Alexei Raksha, a demographer who previously worked at the Rosstat statistics agency, told AFP in February."It's an old problem, but it has gotten worse due to mobilization and mass departures," he said.Some Russians claimed that the economic help the government has pledged for large families, such as plots of land, never materialized, RFE/RL reported in 2020.Putin himself is rumored to have six children, though he has never publicly discussed this.Read the original article on Business Insider.....»»

Munger and Buffett's friendship goes back over 60 years when they were first introduced to each other at a cafe in Omaha in 1959. Charlie Munger died Tuesday at age 99. Nati Harnik/APCharlie Munger, the investing legend, once advised Warren Buffett to live life backwards.Think about what you want your obituary to say, and work towards it, Munger advised Buffett, he told CNBC.Munger died peacefully at the age of 99 on Tuesday morning. Charlie Munger, Warren Buffett's right-hand man at Berkshire Hathaway, once advised the CEO to think about what he'd want his obituary to say, then live life according to it, CNBC reported Tuesday. CNBC's Becky Quick said on "Opening Bell" that Munger offered Buffett, who is five years younger than him, some advice on how to live his life, years ago. Munger told Buffett "he should write his obituary the way he wants it written, and then live his life accordingly," Quick said. "Look at things, and live backwards."In a recent unaired interview with Quick, Munger commented on the advice and said "It's not a bad idea" to start at the end and work backward. "I've written my obituary the way I've lived my life, and if you want to pay attention to it, it's alright with me. And if they want to ignore it, that's OK with me too. I'll be dead."Munger died peacefully at a California hospital on Tuesday morning, his family told Berkshire Hathaway. "Berkshire Hathaway could not have been built to its present status without Charlie's inspiration, wisdom, and participation," Buffett said in a statement. Buffett and Munger's relationship goes back over 60 years when they were introduced by a mutual contact at a cafe in Omaha in 1959, where they were dining with their wives. Buffett told CNBC in 2021 that the two "hit it off," while Munger said that they "got along fine." Munger added: "What I like about Warren is the irreverence. We don't have automatic reverence for the pompous heads of all civilization."The pair also discovered that they had both worked at Buffett's grandfather's grocery store as teenagers but had never crossed paths. Munger led Berkshire Hathaway as vice chairman since 1978 and went on to build a fortune worth $2.6 billion over his lifetime.Read the original article on Business Insider.....»»

Hugging Face CEO Clément Delangue says customers are now more aware of the risk of outsourcing their AI to one provider. Sam Altman returned as CEO of OpenAI.Patrick Fallon/Getty ImagesOpenAI rivals say Sam Altman's ousting and reinstatement as CEO has created opportunities.Hugging Face and Cohere say they've had more customer inquiries following the chaos.Josh Gartner of Cohere told CNBC that clients want "reliable business solutions, not soap operas."  OpenAI's rivals say the chaos of ousting Sam Altman as CEO only for him to return days later has helped them attract more interest from potential customers.Although Altman is back, the company behind ChatGPT no longer seems invincible.Hugging Face, a machine-learning start-up with investors including Nvidia, Salesforce, and Amazon, says it's had a surge of enquiries following OpenAI's boardroom coup."I think a lot of companies, organizations now are kind of wondering about the risk about outsourcing their AI to just one AI provider," Hugging Face CEO Clément Delangue told CNBC."It creates, obviously a single point of failure for them — a little bit for the field too — so they're investigating different solutions."Cohere, a Toronto-based AI startup backed by the likes of Oracle and Nvidia, also says the OpenAI commotion has driven up interest from new customers.Josh Gartner, spokesperson for Cohere, puts this down to people wanting "reliable business solutions, not soap operas," he told CNBC.After the OpenAI chaos began, Cohere CEO Aidan Gomez and COO Martin Kon sent a note to investors assuring them that, unlike one of their competitors, its leadership team was unified."We believe enterprises feel more than ever that they need a stable and reliable LLM provider," they wrote.More than 100 OpenAI customers contacted Google's Anthropic as the drama unfolded, while investors and founders reported a newfound confidence in their prospects."The European founders I know are more confident in themselves after seeing what seems like a complete mess up from OpenAI, so they're more willing to think at a bigger scale which then means more serious competition," one European founder told Business Insider.Both Hugging Face and Cohere have the backing of big-name investors and were valued at $4.5 billion and $2 billion, respectively, in August. That's still a fraction of OpenAI's $86 billion, per The Information.While questions remain about the future of regulation and the non-profit structure at OpenAI, Altman's company still dominates the generative AI sphere with ChatGPT.Read the original article on Business Insider.....»»

Keisha Omilana, an American model who is married to a Nigerian prince, spoke to Business Insider about her recent move to Spain. Nigeria's Princess Keisha.Fernando CatalaPrincess Keisha, an American model and Nigerian royal, recently moved from the UK to Spain.Keisha relocated to Valencia after Brexit affected her family's European work permits in the UK.She said she admires Spain's relaxed work culture and family-oriented sense of community.Princess Keisha Omilana and her family left their home in London, UK, for the Spanish city of Valencia in March 2022.Keisha is an American model, entrepreneur, and owner of SAXS Mag, a travel, fashion, and entertainment publication that she launched in September. She is married to Prince Kunle, crown prince of the Arugbabuwo ruling house in Nigeria.Princess Keisha and Prince Kunle at the Feed the Homeless Fundraiser at the Tribeca Grand Hotel in 2010.PATRICK MCMULLAN/Patrick McMullan via Getty ImagesThe couple and their two children have lived in cities across the world, including New York City, Dubai, and most recently, London, where they lived for seven years before relocating to Valencia for work.Speaking to Business Insider, Keisha said she and her husband's move was due to Brexit, which took effect in 2020. Britain's decision to leave the European Union meant individuals or companies with European work permits, including Keisha and Kunle, would have to reapply for work permits in the UK or relocate to mainland Europe, where their permits are valid. Keisha and Kunle chose the latter option.Keisha says she initially found Spain's work culture 'strange'When deciding where in Europe to relocate to, Keisha said Spain was the top choice because she has several friends who live there and also because her husband had traveled there for work in the past and loved it."It's been a great decision, I love it here in Spain. The weather alone is amazing," Keisha said."And what I love most is how family-oriented everyone is," she said, adding that most people in Spain set aside every Sunday to recharge and relax with their families and loved ones.The model is also impressed with the country's relaxed work culture, although she admits that she initially found it difficult to get used to."In America in particular, working hard, having the best house, the biggest house, and work, work, work, is pretty much the culture," Keisha said.In comparison, Spaniards value "living well" over financial gain, she added."You work because everyone has to work to earn a living, but their life isn't about work," she said. Keisha noted that it's not unusual for local business owners to close for lunch, even if it means giving up opportunities for sales."When we first came here, we were taken aback, like, 'Wow, this is very strange.' But you know what? That's very admirable, to not care about the sale and the cash flow, and your mind is really on eating and being with your family," she said.Read the original article on Business Insider.....»»

Strategists have turned bullish on the benchmark index, which has racked up stellar gains this year. Traders cheer on the floor of the New York Stock Exchange.STAN HONDA/AFP via Getty Images) The S&P 500 will hit a fresh all-time high in 2024, according to Bank of America. "We are past maximum macro uncertainty," a team led by Savita Subramanian said in a research note last week. Wall Street strategists have turned bullish on the benchmark index, which has racked up impressive gains this year. The S&P 500 will charge to fresh all-time highs in 2024, Bank of America has predicted, joining other big Wall Street names in forecasting a strong year for stocks.In a research note published last week, strategists said they're expecting the benchmark index to trade at 5,000 points at year-end.That's 10% above the level the S&P 500 was at as of Tuesday's closing bell, and well clear of its current record high of 4,768 points, set in January 2022."We forecast 5,000 by year-end 2024 for the S&P 500," a team led by Savita Subramanian wrote in the note, which details the bank's stock-market outlook for 2024.Stocks have had a strong 2023, defying gloomy predictions from several market gurus. The S&P 500 has climbed 19% year-to-date, while the Nasdaq Composite is up 36% and the Dow Jones Industrial Average has added 2,300 points over the same period.Equities have rallied this year despite a surge in global tensions, with wars raging in Ukraine and the Middle East.They have also weathered the Federal Reserve's aggressive monetary-tightening campaign, which has lifted interest rates from near-zero in early 2022 to around 5.5% in a bid to tame inflation.Many traders are now expecting the central bank to start reducing borrowing costs next year – but stocks should be in good stead even if it doesn't, according to Subramanian's team."We are past maximum macro uncertainty," they wrote. The market has absorbed significant geopolitical shocks already and the good news is we're talking about the bad news.""We're bullish not because we expect the Fed to cut, but because of what the Fed has accomplished," the strategists added. "Companies have adapted to higher rates and inflation."Like Subramanian, BMO's Brian Belski, Deutsche Bank's Binky Chadha, and RBC Capital Markets' Lori Calvasina have also predicted that the S&P 500 will soar to a new record next year.Wall Street's bull case is based around the idea that the Fed is close to achieving a so-called "soft landing" for the economy, which refers to the scenario where inflation falls in line with its 2% target level without a slump in growth or a surge in unemployment.Read the original article on Business Insider.....»»

Elon Musk's spacecraft manufacturer is buying Pioneer Aerospace, which makes the parachutes that help the company's Dragon rockets return to Earth. A SpaceX dragon capsule splashes down after a successful mission in 2020.NASA/Bill IngallsSpaceX is buying parachute maker Pioneer Aerospace, The Information first reported.Elon Musk's rocket firm will pay $2.2 million to rescue Pioneer after its parent company went bankrupt.SpaceX is preparing to help NASA send astronauts to the moon for the first time in over 50 years.  SpaceX is snapping up a parachute company as it prepares to help NASA return to the moon.Elon Musk's spacecraft manufacturer is buying Pioneer Aerospace, which makes the parachutes that help the company's Dragon rockets return to Earth. According to a Florida bankruptcy filing, SpaceX will pay $2.2 million for Pioneer — whose parent company recently filed for bankruptcy. The Information was first to report the news.It's a rare acquisition for SpaceX, and the first since it paid a reported $524 million for satellite startup Swarm in 2021 in a move that expanded its Starlink satellite network.Pioneer, which was founded in 1938, has provided parachutes for a number of SpaceX and NASA missions, including multiple crewed flights to the International Space Station and the "Osiris Rex" mission that brought back samples from a 4.6 billion-year-old asteroid to Earth.It comes as SpaceX prepares to play a vital role in NASA's return to the moon, with the space agency planning to use the company's reusable Starship rocket system to carry astronauts to the moon in 2025 for the first time since 1972.SpaceX first has to get the Starship to launch without blowing up, however.The second test flight of the most powerful rocket ever built ended in another fireball earlier this month, despite the spacecraft successfully separating from its booster.Musk has grand plans for Starship beyond traveling back to the moon, with the SpaceX boss previously saying that the rocket system will one day ferry passengers anywhere on the planet in an hour and carry human settlers to Mars.SpaceX did not immediately respond to a request for comment from Business Insider, made outside normal working hours.Read the original article on Business Insider.....»»

The Osprey is designed to fly like a plane or helicopter, but has been involved in a series of crashes. An MV-22 Osprey assault support aircraft departing off the flight deck of the USS Kearsarge on June 8 in the Baltic Sea.JONATHAN NACKSTRANDAt least one person was killed when a US Osprey aircraft crashed near Japan. The aircraft, a plane-helicopter hybrid, was carrying six people. It's one of a series of crashes of Ospreys in recent years. At least one person has died after a US Osprey aircraft crashed off the coast of Japan on Wednesday, the latest in a string of fatal military accidents.The Japanese coast guard said that the aircraft, which was carrying six people on board, crashed around 2.47 p.m. local time near Yakushima island, off the south coast of Japan, according to Reuters,The US military had earlier requested an emergency landing at Kagoshima Airport, a Kagoshima prefectural official told CNN, with Japanese media reporting that the aircraft's engine appeared to be on fire before it crashed into the sea.The Osprey can function as a helicopter or as a winged turboprop aircraft, and is designed for missions including combat support and special forces deployment.But a series of crashes involving Osprey models have earned it the moniker "widow maker."In August, three US Marines were killed when an Osprey carrying 23 crashed in northern Australia.In 2022, five US Marines were killed when an Osprey crashed during training exercises near Glamis, California.In 2022, four US Marines were killed when an Osprey crashed during NATO training exercises in Norway.In 2017, three US Marines were killed when an Osprey crashed attempting to land on a transport ship off Australia's northern coast.In an article for The Quincy Institute, a US think tank, defense experts said that the Osprey suffered from persistent design flaws because their engines are so powerful they kick up dust on take-off and landing causing engine failures."In 2019, the Department of Defense Inspector General (IG) reported that the Osprey remains at risk of engine failure. Over nine years of attempts to redesign the Navy version of the aircraft and to prevent engine ingestion of natural materials have failed," experts wrote.Read the original article on Business Insider.....»»

Charlie Munger set up a successful law firm in California, but a 1959 dinner party with Warren Buffett in their hometown led him to join Berkshire Hathaway. Charlie Munger was 99.Rick Wilking/ReutersCharlie Munger died at the age of 99 on Tuesday.The Berkshire Hathaway vice-chairman became an investor after meeting Warren Buffett at a dinner party.He also served in the US Army Air Corps, and lost an eye to failed cataract surgery.Charlie Munger, the vice-chairman of Berkshire Hathaway and Warren Buffett's righthand man, died at the age of 99 on Tuesday."Berkshire Hathaway could not have been built to its present status without Charlie's inspiration, wisdom and participation," Buffett said in a press release.Things could have turned out differently for Munger if he didn't meet Buffett at a 1959 dinner party in their hometown of Omaha, Nebraska.Munger was a successful lawyer before Buffett convinced him to try out finance, and then to join Berkshire Hathaway in 1978.Here's the story behind the investing legend.Charlie Munger was born in Omaha, Nebraska on January 1, 1924.Omaha, NebraskaDavel/Getting ImagesAs a teenager, one of his first jobs was at a grocery store called Buffett & Son, owned by Warren Buffett's grandfather.Bettmann/Getty ImagesIn 1941, Munger left Omaha to enroll at the University of Michigan, studying math. He would later donate millions of dollars to his alma mater.Raymond Boyd/Getty ImagesBy 1943, shortly after turning 19, he joined the US Army Air Corps as a second lieutenant.Brigadier General James Doolittle stands next to a recruiting poster in 1943.US Army Air Force/Interim Archives/Getty ImagesAfter scoring highly on an army intelligence test, Munger was sent to study meteorology at Caltech in Pasadena.Chiharu Uchida/Getty ImagesThrough the G.I. Bill, he took several other classes. And in 1945, he married his first wife Nancy Huggins.President Franklin Roosevelt signing the G.I. Bill of Rights.Bettmann/Getty ImagesMunger then applied to Harvard Law School, which his father attended, but was rejected because he didn't have an undergraduate degree.A view of a gate to Harvard Yard on the campus of Harvard University on July 8, 2020 in Cambridge, Massachusetts.Maddie Meyer/Getty ImagesThe former dean, Roscoe Pound, was a Munger family friend and intervened on his behalf. Munger graduated summa cum laude – the highest honor – in 1948.The campus of Harvard Business School and Harvard University, July 26, 2016 in Boston, Massachusetts. Harvard, one of the most prestigious business schools in the world, emphasizes the case method in the classroomBrooks Kraft/Corbis via Getty ImagesMunger moved with his family to California and worked in law. He divorced his first wife in 1953 and met Nancy Borthwick on a blind date, marrying her in 1956.Paul Tamas/Getty ImagesSource: Stanford MagazineMunger and Warren Buffett first met in 1959 at a dinner party in their hometown of Omaha, and quickly got along.Eric Francis/Getty Images"About five minutes into it, Charlie was sort of rolling on the floor laughing at his own jokes, which is exactly the same thing I did," Buffett told CNBC. "I thought, 'I'm not going to find another guy like this.' And we just hit it off."Back in California, he cofounded the law firm Munger, Tolles & Olson in 1962, where he worked as a real estate attorney.Andrew Harnik/APThe two stayed in touch, and on Buffett's advice, Munger gave up law to concentrate on managing investments.Nati Harnik/APMunger was successful, as Buffett pointed out in a 1984 essay. `He generated compound annual returns of 19.8% between 1962 and 1975.jayk7/Getty Images"He was willing to accept greater peaks and valleys of performance, and he happens to be a fellow whose whole psyche goes toward concentration, with the results shown," Buffett wrote.In his 50s, Munger lost his left eye after cataract surgery failed. A doctor warned he could lose his right eye too, so he began learning braille, but the condition improved.Hill Street Studios/Getty ImagesBuffett became CEO of Berkshire Hathaway in 1965, and convinced Munger to join him as vice-chairman in 1978.Scott Olson/Getty ImagesThe pair became the face of the company, with Munger known as the pragmatic and witty righthand man.APMunger stayed in California while Buffett worked from Omaha, speaking frequently by phone.David Silverman/Getty ImagesSource: BloombergBuffett credited Munger with swaying him away from the "cigar-butt" style of value investing, which involves buying low-priced stock in struggling companies.markgoddard/Getty Images"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price," Buffett told shareholders in 1989. "Charlie understood this early – I was a slow learner."When Munger missed a shareholders meeting in 2010, Buffett brought a cardboard cutout on stage, and mimicked him saying: "I couldn't agree more."Markets InsiderSource: BloombergMunger was known for his one-liners, calling crypto "rat poison" and a "venereal disease." In May, he rebuffed AI: "I think old-fashioned intelligence works pretty well."Charlie Munger was 99.Rick Wilking/ReutersSource: Yahoo FinanceWhen he died Munger was worth $2.6 billion. Lane Hickenbottom/ReutersSource: ForbesMunger died in a California hospital on November 28, aged 99.Nati Harnik/APCharlie Munger, investing legend and right hand to Warren Buffett, dies at 99Read the original article on Business Insider.....»»

A playlist featuring Bon Jovi and AC/DC is blasted through loudspeakers every day at Russia's Kapotnya-7 detention center, according to an inmate. Bon Jovi and a Russian flag by barber wire in a composite image.Getty Images; MAURO PIMENTEL/AFP via Getty ImagesDetainees at Kapotnya-7 are subjected to daily blasts of Bon Jovi and AC/DC songs, an inmate said.He shared the songs featured on a playlist that those awaiting trial are made to listen to every day.Russia's Kapotnya-7 is infamously strict, with a former inmate saying a "red regime" is observed.Detainees in one of Russia's strictest pre-trial detention centers are forced to listen to songs by Bon Jovi and AC/DC on repeat every morning, according to a prisoner being held there.Newsweek was the first to report on the repetitive playlist, which detainee Grigory Melkonyants said is blasted via a loudspeaker at the Kapotnya-7 pre-trial detention center.Melkonyants, who was imprisoned in August, is one of the heads of Golos, an election watchdog, which was declared a "foreign" agent by Russia in August 2021.Melkonyants was detained after Russian authorities said he was working with "undesirable" international organizations.Golos shared the songs in the form of a Spotify playlist in a message on Telegram on Monday."Grigory Melkonyants, who has spent 100 days in a pre-trial detention center, recorded which songs are played on the internal radio in the pre-trial detention center in the morning," the message said."This playlist is repeated day after day, month after month," it said. "They are heard every morning by thousands of Russians awaiting trial, including political prisoners."Golos said it added the songs to a public playlist "so you can understand how they feel."The songs include "It's My Life" and "One Wild Night" by Bon Jovi, as well as "Thunderstruck" by AC/DC, interspersed with Russian patriotic tunes.Oddly, there are also three songs by the American musician Moby.Alexei Navalny, a Russian opposition leader who has been imprisoned for more than a decade, was previously held in Kapotnya-7.Another former inmate is Ilya Yashin, who wrote on Facebook in August 2022 about his time at the detention center, which he said observed a strict "red regime."Yashin, an opposition politician who was arrested in June last year, described the conditions, citing an example of one of his cellmates being sent to solitary confinement for leaving bed to make tea.According to Public Verdict, a Russian human rights group, pre-trial detention centers in Russia are often overcrowded, lack adequate medical care and cleaning, and are poorly ventilated.Read the original article on Business Insider.....»»

A Russian soldier pleaded for supplies and said his regiment suffered 1,000 deaths in just 10 days in Donetsk, according to a video shared by Ukraine. Pro-Russian troops in uniforms without insignia gathering in the separatist-controlled settlement of Mykolaivka, Donetsk region, on March 1, 2022.ReutersA Russian soldier said his regiment lost over 1,000 men in just 10 days of fighting in Donetsk.Verkiev Igor Gennadievich was making a desperate plea for donations in a video shared by Ukraine.Russia has suffered record troop losses since it started its offensive near Avdiivka, per UK intel.A Russian soldier said that more than 1,000 of his comrades were killed during a 10-day period while fighting in Donetsk, according to a video shared by a Ukrainian official on Tuesday.Verkiev Igor Gennadievich, an army volunteer from Saint Petersburg, was speaking in a Russian Orthodox church flanked by two priests in a video shared on X by Anton Gerashchenko, an advisor to Ukraine's internal affairs ministry.In it, Gennadievich said that his regiment was suffering "heavy losses," according to Gerashchenko's translation, adding that: "I was absent there for 10 days. [During this time], they had over 1,000 killed."Gennadievich didn't name his regiment, and it is unclear what church he was speaking in.Russia has suffered record losses this month, with a daily average of 931 soldiers being injured or killed, the UK's Ministry of Defence reported on Monday, citing Ukrainian data.This came after Russia launched a brutal offensive near the Ukrainian village of Adviivka in mid-October.By contrast, 776 Russian soldiers were killed or wounded a day at the height of Russia's assault on Bakhmut in March, the previous high, the UK MOD said.In the video, Gennadievich said his comrades were suffering from a lack of equipment. He said his regiment chief told him the gloves he was bringing back were being handed out like medals.To make up for the shortfall, Gennadievich asked those in the church to donate, according to the video."We are not competing with the Ministry of Defense; we simply add to whatever it doesn't have time to deliver," he said, per Gerashchenko's translation.Russia is also suffering losses as it tries to hold back Ukrainian advances on the eastern bank of the Dnipro River.On Tuesday, a prominent Russian military blogger, Two Majors, said that Russian troops were complaining about their weak capabilities in the region, per the Institute for the Study of War.Read the original article on Business Insider.....»»

Mobility is a key factor in preventing injury, building strength, and gaining muscle. A trainer shares tips to enhance exercises you're already doing. You can improve your mobility by doing basic exercises like squats with a full range of motion.Drazen Zigic/Getty ImagesMobility exercise can help you build more muscle and prevent injury at the same time.You can improve your mobility with basic exercises like squats and pull-ups, a trainer said. Work through a full range of motion with a bit less weight, and gradually increasing over time.If you aren't doing at least some mobility exercise in your workouts, you're missing out on gains for both muscle and longevity, according to a personal trainer. Good mobility can improve muscle growth and prevent injury, and it's easy to do with exercises that are probably already in your routine, said Ben Foster, founder and head coach of the People's Athletic Club. "It's one of the biggest two-birds-with-one-stone opportunities you have," Foster told Business Insider. "If you are already exercising, just exercising with full range of motion will not just give you better results in the gym in terms of capacity to build muscle, but actually improves your mobility even more so than a traditional practice like yoga."Mobility is also a key factor in staying strong and active as you age so you can keep doing the things you love for years to come, according to Foster."It's the most important thing. It's hard to overstate," he said. "If you want to exist with some independence in your later years, you have to be practicing the ranges of motion necessary to do that."Movements like squats, deadlifts, bench presses, and pull-ups give you the opportunity not only to strengthen but stretch your muscles, if you do them correctly. As a result, you can get even more of the health-boosting benefits of working out, without having to spend extra time in the gym with these strategies.Include strength training in your mobility workouts When most people think of mobility, they think of static stretching exercises, or workouts involving yoga; while those have benefits, resistance training can be as or even more effective for improving mobility, according to Foster. That's because static stretching primarily changes how your brain responds to the stimulus of a stretch, making it feel easier, according to research. In contrast, resistance training, such as exercise with weights, trains the muscle itself to produce force in different positions. "I love yoga, I'm a big proponent of it, But increases in static stretching don't stick around. It's neural, not physiological," he said. "When you're loading the muscle with weight, there's a physiological change to the body that's a more permanent and lasting change."You don't have to totally forget yoga, which has plenty of benefits too, Foster added. But focusing on active mobility with resistance can help you be strong as well as flexible.A full range of motion can help you make better gains in the gym. One example is completely lowering at the bottom of a pull-up.SrdjanPav/Getty ImagesGet the most out of each rep with full range of motion in your squat and bench pressYou don't need to add any complicated exercises to your routine. Some of the best exercises for mobility are ones you're probably already familiar with, but may not be doing correctly, Foster said.Foundational exercises like squats, deadlifts, and even bench presses involve mobility, but there's a catch: in order to take advantage of the benefits, you need to be working through what's known as full range of motion, moving as far as is safely possible while maintaining control of the exercise. For example, performing a squat to full range of motion means lowering yourself past the point where your knees are at a 90 degree angle (parallel to the ground), and getting your butt as close to the floor as possible. "In most movements, people aren't getting the most range of motion they could be," Foster said. "I see people squat to parallel, just below, or not even that."If you're stopping your squat too soon, your muscles aren't getting as much stretch and tension, which ultimately means fewer gains. "We want that because that's where we get the big response in the muscles," Foster said. "Research shows that the most muscle-building part of the movement is when the muscle is at its most stretched."Squats are the only exercise that can benefit from full range of motion, either. Other examples include:Bench presses: bringing the weight all the way down to the chest before lifting it againPull-ups: lowering to a dead hang between each rep Deadlifts: lifting the weight up and then lowering back to the ground with control, instead of dropping the weight at the top Focus on perfect technique before increasing the weightOne reason people shorten their range of motion is that it can make it easier to lift more weight, since you're not working as hard for each rep, according to Foster.But that doesn't necessarily translate to better strength or muscle gains, he said. In contrast, getting in a full range of motion, along with other muscle-building techniques such as slowing down the movement, can make an exercise feel much more challenging. While it can feel counterintuitive to make things harder for yourself, the payoff is that you'll likely see more benefits, without needing to put in more time in the gym. "I want it to feel as heavy as I can make it by doing slow and control, pausing in bottom position, getting in a stretch," Foster said.You don't have to lift the heaviest possible weight. Instead, focus on perfect form and gradual improvement over time.Fly View Productions/Getty ImageGradually work up to better mobility over timeIf you're new to mobility training, it's a good idea to start with little to no weight as you work up to a greater range of motion, perform fewer sets, and be aware of whether anything hurts throughout the workout so you can ease up if needed. Just as you build strength and muscle by gradually increasing weight over time with progressive overload, you can safely improve your mobility by slowly increasing your range of motion, instead of trying to force your body at all once into exercises like deeper squats."Pain is never the objective and if you experience pain in a larger range of motion, stay slightly above," Foster said. "What most people will find is that they can get lower than they're getting now, and in two to six weeks of doing that, can progress themselves over time to getting a little bit more."Read the original article on Business Insider.....»»

The "Oracle of Pasadena" leaves behind decades' worth of zingers, including savage takedowns of bitcoin and other cryptocurrencies. Charlie Munger died Tuesday, aged 99.Mark Peterson/Corbis via Getty Images Charlie Munger, who died Tuesday, was as well-known for his signature wit as he was for his investing success. The "Oracle of Pasadena" still had a sense of humor well into his late 90s. Here are some of his best quotes on markets – including his savage takedowns of crypto. The late Charlie Munger, who died Tuesday aged 99, was known for his signature sense of humor as well as for his meteoric success during a five-decade tenure at Berkshire Hathaway.Warren Buffett's right-hand man leaves behind decades' worth of life lessons – as well as his fair share of zingers, including savage takedowns of bitcoin and other cryptocurrencies.Here are 11 of the Oracle of Pasadena's best quotes on investing and markets.The stock market1. On the 2008 financial crisis: "The bubble in America was caused by some combination of megalomania, insanity and evil in, I would say, investment banking, mortgage banking" – Munger at a 2011 conference in Pasadena, CA2. On former Lehman Brothers CEO Dick Fuld: "I bet Richard Fuld doesn't have an ounce of contrition. It's just megalomania. When it's like that, you need rules to prevent catastrophe. When banks are borrowing the government's credit rating, you need rules to prevent stupid things" – Munger in a 2010 interview with CNBC3. On derivatives: "What do you think a derivatives trading desk is? It's a casino in drag. They make the witch doctors look good" – Munger at the 2015 Daily Journal annual meeting4. On what value investing has in common with fishing: "I have a friend who's a fisherman. He says, 'I have a simple rule for success in fishing. Fish where the fish are.' You want to fish where the bargains are. [It's] that simple" – Munger at the 2020 Daily Journal annual meeting5. On meme stocks: "What we're getting is wretched excess and danger for the country. A lot of people like a drunken brawl, and so far those are the people that are winning, and a lot of people are making money out of our brawl" – Munger at the 2021 Daily Journal annual meetingThe Federal Reserve6. On Alan Greenspan, Fed chair in the run-up to the financial crisis: "Alan Greenspan is a smart man. He just totally overdosed on Ayn Rand at a young age" – Munger at a 2011 conference in Pasadena, CAArtificial intelligence7. On the ChatGPT-fueled AI investing craze: "I am personally skeptical of some of the hype that has gone into artificial intelligence. I think old-fashioned intelligence works pretty well" – Munger at the 2023 Berkshire Hathaway annual meetingBitcoin and crypto8. On bitcoin when it was trading at $150: "I think it's rat poison" – Munger in a 2013 interview with Fox Business9. Five years later, when the token was valued at $9,000: "So it's more expensive rat poison" – Munger in a 2018 follow-up interview with Fox Business10. On dodging the crypto craze and subsequent crash: "I'm proud of the fact that I avoided it. It's like some venereal disease. I just regard it as beneath contempt" – Munger at the 2022 Daily Journal annual meeting11. On the US not banning crypto transactions: "I am not proud of my country for allowing this crap – well, I call it crypto shit. It's worthless, it's crazy, it's not good, it'll do nothing but harm, it's antisocial to allow it… I think the people that oppose my position are idiots" – Munger at the 2023 Daily Journal annual meetingRead the original article on Business Insider.....»»

Private equity is being blamed for creating chaos in the housing market. But the numbers tell a surprisingly different story. Deep-pocketed investors bought lots of homes during the pandemic, drawing the ire of regular homebuyers and lawmakers. But the panic over corporate vultures obscures the real problems in the housing market.Chelsea Jia Feng/BIWhen I met the villains of America's housing market a couple of years ago, it wasn't in some ivory tower or on a private island. Instead, the gathering of the country's most-reviled homebuyers took place at a reasonably plush hotel in the desert near Phoenix. The attendees were employees and executives of single-family-rental companies: a relatively new constellation of private-equity funds, publicly traded firms, and obscure corporations that were spending tens of billions of dollars to scoop up thousands of homes in quaint suburbs and rent them out to families. The companies represented at this annual industry conference weren't household names, but their recent shopping spree had ignited a panic among watchdogs and average homebuyers who feared that deep-pocketed investors were crowding Americans out of the housing market. These investing giants weren't just pouring money into a $4 trillion industry, the argument went — they were launching an assault on the American dream.At a party on the last night of the conference, the rowdiest attendees bounced gleefully as a local cover band hammered out the antiestablishment anthem "Killing in the Name" by Rage Against the Machine. Others hung out on the periphery, talking deals or schmoozing potential business partners. There were lots of reasons to celebrate: Interest rates were low, making it cheap to snap up more homes; rents were surging, which meant owners could pad their profits; and the business model seemed to hold nearly limitless potential. I chatted with a pair of investment managers from Chicago, who lamented that they had $3 billion to dedicate to single-family rentals but couldn't find somewhere to put it — there simply weren't enough homes available. With so much money sloshing around, I thought, how could a first-time homebuyer possibly stand a chance? Two years later, the hostile takeover of America's housing market by the cash-rich villains I met in the desert hasn't unfolded the way many feared. The percentage of American households who own their home has actually been on the rise since the start of the pandemic, climbing to 66% at the end of the third quarter. That's nearly a full percentage-point increase from the end of 2019; there are roughly 6.6 million more owner-occupied housing units today than there were four years ago. Meanwhile, Wall Street's foray into the housing market has slowed substantially since last spring: Increased borrowing costs, unattractive home prices, and slowing rent growth have made buying up homes a tougher proposition for investors. In recent quarters, several of the largest publicly traded SFR companies have even been selling more homes than they've been buying. The tale of the housing market over the past few years, in which big Wall Street firms and greedy Airbnb investors elbowed out first-time buyers and drove up home prices, is appealing. It's nice and tidy, with a clear delineation between good guys and bad guys. But it also misses the mark. I don't say that to minimize the very real challenges in the housing market. But if we want to assign blame, we need to look beyond cash-rich investors and examine all the other ways in which homebuilders, lawmakers, and the NIMBYs who block new development have failed those seeking the American dream.  The origin of the corporate vultureThe presence of big investors in the housing market is a relatively new phenomenon. In the aftermath of the Great Recession, the foreclosure crisis triggered a steep drop in home prices and turned single-family homes into distressed assets that could be scooped up on the cheap, revamped, and turned into profit-generating machines. There was money to be made, so Wall Street-backed firms started assembling vast portfolios of single-family homes. The corporate buying helped stabilize home prices, but it also contributed to a sharp drop in America's homeownership rate. By 2014 it had fallen to 64%, a roughly 5-percentage-point drop from 2006. A paper published by the Federal Reserve Bank of Philadelphia estimated that during that time, corporate investors were responsible for 75% of the decline in homeownership."Right off the bat, institutional investors got painted with that negative aura of coming in and taking advantage of people's misfortunes to buy these properties at bargain prices," Rick Sharga, the founder and CEO of the market-intelligence firm CJ Patrick Company, told me. "That's really never gone away."!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;r.....»»

The password authenticator said affected users may be subject to phishing or social engineering attacks and advised using multi-factor authentication. Okta first revealed the hack in September.SOPA Images/ GettyOkta said hackers stole a report with names and email addresses of all customer support users.Those users face an "increased risk of phishing," the password authenticator said in a blog. Okta said earlier this month that 1% of customers were affected by the September breach. Okta's recent data breach was a lot bigger than it previously disclosed. The password authenticator was hit by a cyberattack in September and said earlier this month that just 1% of its customers were affected. But in a blog post Wednesday, Okta said hackers stole a report that included the names and email addresses of "all Okta customer support system users." David Bradbury, Okta's chief security officer, said in the post: "While we do not have direct knowledge or evidence that this information is being actively exploited, there is a possibility that the threat actor may use this information to target Okta customers via phishing or social engineering attacks."Bradbury advised all customers to use multi-factor authentication, which requires more than one security test, to keep their information safe online. San Francisco-based Okta offers companies identity management tools including single sign-in and multi-factor authentication for secure website logins. The company has more than 18,000 corporate clients including FedEx, S&P Global, T-Mobile and Zoom, per its website. The company also suffered at least two security breaches last year, TechCrunch reported. A group of hackers called Lapsus$ extortion group accessed a customer support engineer's account in January 2022 and shared screenshots of Okta's systems, per the report.Then in August hacking group Scatter Swine gained access to Okta customer data, it claimed in a blog post, breaching more than 100 companies including software firm Twilio.Okta didn't immediately respond to a request for comment from Business Insider, made outside normal working hours. Read the original article on Business Insider.....»»