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          Disney Soars on New Plans      Comment   Translate Page      
Very good morning for Disney . From Business Insider : Disney shares were up more than 10% Friday morning, hitting a record high of...
          "Big Brother Is Watching": Facebook 'Accidentally' Includes Secret Orwellian Messages On VR Controllers      Comment   Translate Page      

Tens of thousands of Facebook Oculus virtual reality (VR) controllers contain bizarre 'hidden' inscriptions warning that "Big Brother is Watching" and "The Masons Were Here" among other things ominous messages, according to Business Insider

According to Nate Mitchell, cofounder of Facebook-owned VR organization Oculus, the messages were "easter eggs" which were only meant for prototypes. 

Mitchell added "While I appreciate easter eggs, these were inappropriate and should have been removed.

And while the affected units haven't shipped yet, Facebook spokeswoman Joanna Peace told Business Insider that they will ultimately go out to consumers with the hidden messages inside. 

Oculus Touch controllers

"To be clear, no devices have been sold with these messages yet, since Quest and Rift S have not yet shipped. That said, as mentioned in Nate's tweet, the messages will be inside tens of thousands of controller pairs that will ship to consumers when Quest and Rift S ship," wrote Facebook in an email - which kind of makes this look like a giant advertising stunt

"We think it's important to be transparent with our community and take responsibility when there's an error," added the company. 

While most users of the Touch controller will never see the hidden messages, it's an awkward misstep for Facebook, which has faced sustained criticism on privacy issues for more than a decade.

It comes as Facebook attempts to push virtual reality into the mainstream, and the company is also gearing up to launch its long-awaited Oculus Quest, an all-in-one virtual reality headset, in the coming months. -Business Insider

Misstep or marketing campaign?

The inscriptions are sure to draw comparisons to Mark Zuckerberg's 'illuminati' hoodie, which he revealed during a 2020 interview with Recode editor-at-large Kara Swisher. 


          Klocki Lego w rozszerzonej rzeczywistości. Sprawdziliśmy, jak to działa      Comment   Translate Page      

@Madafaker pisze:

Wpisy: 1

Uczestnicy: 1

Przeczytaj cały temat


          Stratolaunch: 'World's largest plane' lifts off for the first time - BBC News      Comment   Translate Page      
  1. Stratolaunch: 'World's largest plane' lifts off for the first time  BBC News
  2. In California, giant Stratolaunch jet flies for first time  ABC News
  3. The world's largest plane just flew for the first time  CNN
  4. Giant six-enginge aircraft lands its first flight in California  New York Post
  5. Stratolaunch, the giant aircraft developed by Paul Allen, just took its first flight in California  Business Insider
  6. View full coverage on Google News

          100 Milliarden Dollar wert?:Uber steuert auf Mega-Börsengang zu - n-tv NACHRICHTEN      Comment   Translate Page      
  1. 100 Milliarden Dollar wert?:Uber steuert auf Mega-Börsengang zu  n-tv NACHRICHTEN
  2. „In absehbarer Zukunft nicht profitabel“: Dieses Eingeständnis von Uber beunruhigt Investoren  Business Insider Deutschland
  3. Uber will Rekord-Börsengang – 100 Milliarden Dollar wert?  t-online.de
  4. Uber-Fahrer sollen nach IPO bis zu 10.000 Dollar Prämie erhalten  Handelsblatt
  5. Fahrdienst nimmt Kurs auf Börse: Uber vielleicht überbewertet?  ZDFheute
  6. Mehr zum Thema in Google News

          Facebook investors launch desperate bid to oust Mark Zuckerberg - Mashable      Comment   Translate Page      
  1. Facebook investors launch desperate bid to oust Mark Zuckerberg  Mashable
  2. Facebook's activist shareholders are making another dramatic bid to oust Mark Zuckerberg and abolish the firm's share structure  Business Insider
  3. It cost Facebook $22 million to keep Mark Zuckerberg safe last year  CNN
  4. Facebook Shakes Up Board: Erskine Bowles, Reed Hastings to Step Down  Wall Street Journal
  5. Facebook Shakes Up Board, Dings Exec Who Once Threatened Peter Thiel For Supporting Trump  The Daily Caller
  6. View full coverage on Google News

           Comment on The Average Net Worth For The Above Average Person by Brian Weitzel       Comment   Translate Page      
Sam, This article changed my life when I first came across it years ago. Without sounding conceited, I was already following all of the other financial advice like saving and investing, but there was no way to tell where I was relative to top earners. Then I came across this article and it has helped me put my net worth and efforts into perspective. It lit a fire under me and pushed me to make moves and strive more. I came across this article again in Business Insider and will be sharing it with my students (I teach high school Economics.) I would love to extend an invite for you to share some of your insight and wisdom on investing with my students and podcast listeners (Ride Your Money Wave podcast.) Let's connect!
          Dipecat Elon Musk, Pria Ini Malah Direkrut Orang Terkaya Dunia      Comment   Translate Page      

Liputan6.com, New York - Setelah dipecat oleh sang bos Elon Musk, Rajeev Badyal mantan wakil presiden SpaceX ini malah direkrut oleh orang terkaya dunia Jeff Bezos.

Dilansir dari laman CNBC, Bezos melakukan ini untuk menjalankan dan mengembangkan proyek satelit Amazon miliknya karena Rajeev Badyal dirasa telah memiliki banyak pengalaman saat memimpin SpaceX.

Proyek yang diberi nama ‘Kuiper’ ini merupakan bentuk awal untuk mewakili rencana Bezos yang akan meluncurkan 3.236 satelit kecil ke luar angkasa guna menyediakan internet berkecepatan tinggi di dunia.

Tentunya rencana ini menjadikan Amazon selangkah lebih maju dari perusahaan teknologi lainnya. Setidaknya dari lima perusahaan lain yang memiliki tujuan sama untuk masa mendatang.

Sebelumnya, Badyal yang berada di divisi Starlink di SpaceX telah meluncurkan dua satelit yang telah lulus uji pertama pada tahun lalu. Awalnya, SpaceX merencanakan ingin meluncurkan 4.425 satelit dalam orbit bumi rendah.

Namun sayangnya, pada akhir tahun lalu FCC hanya menyetujui penambahan 7.518 satelit ke konstelasi dari rencana awal Starlink untuk meluncurkan 11.943 satelit di orbit.

Jeff Bezos berharap satelit yang 'Kuiper' ingin luncurkan dapat berguna bagi seluruh orang di bumi terutama bagi mereka yang tidak mampu dan sulit terhubung ke dalam koneksi internet.

 

Tesla PHK 150 Pegawainya Lagi, Ada Apa?

Elon Musk, founder Tesla dan SpaceX. Sumber: Business Insider#source%3Dgooglier%2Ecom#https%3A%2F%2Fgooglier%2Ecom%2Fpage%2F2019_04_14%2F304569

Ini kali ketiga Tesla memberhentikan pekerjanya pada awal 2019. Perusahaan mobil listrik ini baru-baru saja mem-PHK sejumlah karyawannya. Hal ini dilakukan karena sepinya permintaan akan mobil mewah buatannya.

Dilansir dari laman Business Insider, Tesla sudah memotong setengah dari tim rekrutmen globalnya sekitar 150 orang. Meskipun tahun lalu, perusahaan ini mengalami pertumbuhan yang cukup baik hingga pegawai mencapai 45.000.

Namun sayangnya awal 2019 ini jumlah karyawannya turun secara drastis.

Awal pekan ini, CEO Tesla, Elon Musk menerangkan bahwa hal ini dilakukan karena mereka ingin menutup toko-toko dan beralih berjualan secara online. Untuk itu, mereka memangkas habis-habisan jumlah karyawannya.

Namun ternyata selain memangkas karyawannya, mereka juga mengumkan akan menaikkan harga pada semua mobilnya kecuali untuk entry level Model 3.

Ini dilakukan sebagai langkah untuk mengembalikan kerugian mereka akibat pemotongan harga pada dua minggu sebelumnya.

Dari akhir Febuari hingga minggu lalu, Tesla dilaporkan telah mem-PHK 8 persen dari karyawannya. Selain itu, mereka juga meminta agar para karyawannya mengakhiri shift mereka lebih awal dan membatasi pekerjaannya.


          CEO Disney Siap Pensiun di 2021, Kenapa?      Comment   Translate Page      

Liputan6.com, Burbank - CEO Disney Robert Iger siap meninggalkan Disney. Kepergian Iger terkait habisnya kontrak Iger pada tahun 2021.

Dilaporkan USA Today, Iger mengumumkan kepergian di saat acara investor yang membahas layanan streaming Disney+. Dalam acara itu, investor bertanya tanggapan Iger terkait kontraknya yang akan habis.

"Saya mengekspektasikan kontrak saya habis pada akhir 2021," ujar Iger. Ia pun memastikan bahwa tahun 2021 akan menjadi momen baginya untuk akhirnya turun.

Namun, perlu diketahui Iger sudah berkali-kali berencana pensiun sebagai pemimpin Disney. Masalahnya, rencana pensiunnya terus menerus ditunda.

Sebelumnya, Iger siap pensiun pada tahun 2018, tetapi pada tahun 2017 kontraknya diteruskan hingga 2 Juli 2019. Pada Desember lalu, kontrak Iger kembali diperpanjang hingga mencapai 2021.

Terkait penerusnya, pria yang akrab disapa Bob itu mengaku akan berbincang dengan anggota dewan Disney. Ia yakin anggota dewan dapat memilih penerus kepemimpinan Disney dan memberi proses transisi yang mulu.

Iger memiliki sejarah karier cemerlang di Disney. Pada tahun 2000 ia menjadi presiden dan chief operating officer (COO) Disney, kemudian menjadi CEO pada tahun 2005, serta mendapat posisi chairman di tahun 2012.

Disney Caplok 21st Century Fox Senilai Rp 1.000 Triliun

Poster Avengers: Endgame. (Marvel Studios)#source%3Dgooglier%2Ecom#https%3A%2F%2Fgooglier%2Ecom%2Fpage%2F2019_04_14%2F328637

Pada masa kepemimpinan Iger, Walt Disney resmi membeli 21st Century Fox senilai USD 71 miliar atau setara Rp 1.006 triliun (asumsi kurs USD 1 = Rp 14.180). Dengan ini semua serial Fox seperti The Simpsons sudah menjadi milik Disney.

"Ini adalah momen luar biasa dan bersejarah bagi kami, momen yang akan menciptakan nilai jangka panjang yang signifikan bagi perusahaan dan shareholder kamis," ucap CEO The Walt Disney Company Robert Iger dalam situs resmi perusahaan.

Ia pun percaya hal ini bisa memadukan kreativitas antara Disney dan 21st Century Fox, serta memberikan posisi lebih baik untuk memimpin industri hiburan dunia.

Dengan ini, Star Wars, X-Men, Modern Family, hingga The Simpsons sudah berada di satu manajemen. Ini pun membuka peluang bergabungnya X-Men dan Avengers, sebab sebelumnya karakter X-Men telah dilisensi oleh Fox.

Dilaporkan Business Insider, Disney juga bertujuan kemampuan melawan kompetitor perusahaan seperti Netflix dan Amazon. Dua perusahaan tersebut yang sedang berlomba eksistensi di dunia streaming dengan Amazon merilis layanan Prime.

Akusisi Disney ini juga memuluskan jalan Disney untuk meluncurkan layanan streaming Disney Plus mereka di tahun ini. Disney Plus akan menyajikan lima kategori: Disney, Pixar, Marvel, Star Wars, dan National Geographic. Biaya perbulannya ditaksir sebesar USD 5 atau Rp 70 ribu.

Sekadar catatan, Fox Corp yang memiliki Fox News, Fox Sports, dan Fox Broadcasting, tidak termasuk ke dalam kesepakan ini. Nama mereka di Nasdaq pun dibedakan antara FOX dan FOXA untuk 21st Century Fox.

Gaji CEO Disney Dipotong hingga Ratusan Miliar, Mengapa?

Bos Walt Disney, Bob Iger memberikan sambutan di samping Minnie Mouse saat menerima penghargaan Hollywood Walk of Fame atas nama Minnie Mouse di Los Angeles, Senin (22/1). (Alberto E. Rodriguez/GETTY IMAGES NORTH AMERICA/AFP)#source%3Dgooglier%2Ecom#https%3A%2F%2Fgooglier%2Ecom%2Fpage%2F2019_04_14%2F328637

Bayaran CEO Disney, Bob Iger berkurang sebanyak USD 13,5 juta pada awal Maret ini. Sayangnya pihak Disney tidak dapat membeberkan mengapa hal ini terjadi. Namun ternyata pemotongan ini sudah di setujui oleh Bob Iger sendiri.

Seperti yang dilansir pada laman CNBC, Bob mengatakan bahwa apa yang terjadi saat ini mungkin adalah yang terbaik baginya dan Disney.

Pada tahun lalu, Bob Iger mendapatkan USD 65,6  juta untuk kinerjanya. Selain itu, ia juga mendapatkan bonus hingga USD 35 juta dan perpanjangan masa jabatan hingga 2021.

Namun ternyata, tahun ini Disney pun menghapuskan kenaikan gajinya sebanyak USD 500 ribu dan membuat gajinya hanya tetap USD 3 juta. 

Tidak hanya gajinya saja, potensi bonys tunai yang dimilikinya juga akan berkurang dari USD 20 juta menjadi USD 12 juta. Serta intensif jangka panjangnya yang turun dari USD 25 juta menjadi USD 20 juta.


          El ejercicio te hace más feliz que el dinero      Comment   Translate Page      
Está claro que el ejercicio tiene beneficios para la salud tanto físicos como mentales, pero ¿qué pasaría si pudiéramos demostrar que es más importante para tu salud mental que tu estado económico?

Según un estudio realizado por investigadores de Yale y Oxford, es posible que hayamos hecho precisamente eso.

En el estudio, publicado en The Lancet, un grupo de científicos ha recolectado datos sobre el comportamiento físico y el estado de ánimo mental de más de 1,2 millones de estadounidenses.

Se pidió a los participantes que respondieran a la siguiente pregunta: "¿Cuántas veces te has sentido mentalmente mal en los últimos 30 días, por ejemplo, debido al estrés, depresión o problemas emocionales?"

TE PUEDE INTERESAR: Este es uno de los primeros sintomas de hipertensión

También se les preguntó a los participantes sobre sus ingresos y actividades físicas. Pudieron elegir entre 75 tipos de actividad físicas, desde cortar el césped, cuidar a los niños y realizar tareas domésticas hasta levantar pesas, andar en bicicleta y correr.

LOS QUE SE MANTIENEN MÁS ACTIVOS TIENDEN A SER MÁS FELICES
Los científicos descubrieron que mientras que los que se ejercitaban regularmente tendían a sentirse mal durante unos 35 días al año, los participantes no activos se sentían mal durante 18 días más en promedio.

Además, los investigadores han detectado que las personas físicamente activas se sienten tan bien como las que no practican deportes pero que ganan alrededor de 25.000 dólares más al año.

Prácticamente tendrías que ganar bastante más para proporcionarte el mismo efecto de felicidad que tiene el deporte.

TE PUEDE INTERESAR: Con estimulación cerebral recuperaron la memoria de adultos mayores


Eso no significa, sin embargo, que cuanto más deporte practiques, más feliz serás.

DEMASIADO EJERCICIO PUEDE SER PERJUDICIAL PARA LA SALUD MENTAL
"La relación entre la duración del deporte y la carga mental tiene forma de U", señala el autor del estudio Adam Chekroud, de la Universidad de Yale, en una entrevista con Die Welt. El estudio descubrió que la actividad física solo contribuye a un mejor bienestar mental cuando se realiza dentro de un determinado periodo de tiempo.

Según el estudio, de tres a cinco sesiones de entrenamiento que duren entre 30 y 60 minutos por semana es lo ideal.

Sin embargo, más de esto puede tener el efecto contrario: de hecho, la salud mental de los participantes que hacían ejercicio durante más de tres horas al día sufría más que la de los que no eran particularmente activos físicamente.

TE PUEDE INTERESAR: En China dirigen con éxito operaciones a distancia

Los científicos también notaron que ciertos deportes que involucran socialización —es decir, los deportes en equipo— pueden tener un efecto más positivo en tu salud mental que otros.

A pesar de que ni el ciclismo, ni el aeróbic, ni el fitness son técnicamente deportes de equipo, estas actividades también pueden tener un efecto positivo considerable en tu salud mental. Con información de Business Insider.
          CEO Disney Siap Pensiun di 2021, Kenapa?      Comment   Translate Page      

Liputan6.com, Burbank - CEO Disney Robert Iger siap meninggalkan Disney. Kepergian Iger terkait habisnya kontrak Iger pada tahun 2021.

Dilaporkan USA Today, Iger mengumumkan kepergian di saat acara investor yang membahas layanan streaming Disney+. Dalam acara itu, investor bertanya tanggapan Iger terkait kontraknya yang akan habis.

"Saya mengekspektasikan kontrak saya habis pada akhir 2021," ujar Iger. Ia pun memastikan bahwa tahun 2021 akan menjadi momen baginya untuk akhirnya turun.

Namun, perlu diketahui Iger sudah berkali-kali berencana pensiun sebagai pemimpin Disney. Masalahnya, rencana pensiunnya terus menerus ditunda.

Sebelumnya, Iger siap pensiun pada tahun 2018, tetapi pada tahun 2017 kontraknya diteruskan hingga 2 Juli 2019. Pada Desember lalu, kontrak Iger kembali diperpanjang hingga mencapai 2021.

Terkait penerusnya, pria yang akrab disapa Bob itu mengaku akan berbincang dengan anggota dewan Disney. Ia yakin anggota dewan dapat memilih penerus kepemimpinan Disney dan memberi proses transisi yang mulu.

Iger memiliki sejarah karier cemerlang di Disney. Pada tahun 2000 ia menjadi presiden dan chief operating officer (COO) Disney, kemudian menjadi CEO pada tahun 2005, serta mendapat posisi chairman di tahun 2012.

Disney Caplok 21st Century Fox Senilai Rp 1.000 Triliun

Poster Avengers: Endgame. (Marvel Studios)#source%3Dgooglier%2Ecom#https%3A%2F%2Fgooglier%2Ecom%2Fpage%2F2019_04_14%2F351790

Pada masa kepemimpinan Iger, Walt Disney resmi membeli 21st Century Fox senilai USD 71 miliar atau setara Rp 1.006 triliun (asumsi kurs USD 1 = Rp 14.180). Dengan ini semua serial Fox seperti The Simpsons sudah menjadi milik Disney.

"Ini adalah momen luar biasa dan bersejarah bagi kami, momen yang akan menciptakan nilai jangka panjang yang signifikan bagi perusahaan dan shareholder kamis," ucap CEO The Walt Disney Company Robert Iger dalam situs resmi perusahaan.

Ia pun percaya hal ini bisa memadukan kreativitas antara Disney dan 21st Century Fox, serta memberikan posisi lebih baik untuk memimpin industri hiburan dunia.

Dengan ini, Star Wars, X-Men, Modern Family, hingga The Simpsons sudah berada di satu manajemen. Ini pun membuka peluang bergabungnya X-Men dan Avengers, sebab sebelumnya karakter X-Men telah dilisensi oleh Fox.

Dilaporkan Business Insider, Disney juga bertujuan kemampuan melawan kompetitor perusahaan seperti Netflix dan Amazon. Dua perusahaan tersebut yang sedang berlomba eksistensi di dunia streaming dengan Amazon merilis layanan Prime.

Akusisi Disney ini juga memuluskan jalan Disney untuk meluncurkan layanan streaming Disney Plus mereka di tahun ini. Disney Plus akan menyajikan lima kategori: Disney, Pixar, Marvel, Star Wars, dan National Geographic. Biaya perbulannya ditaksir sebesar USD 5 atau Rp 70 ribu.

Sekadar catatan, Fox Corp yang memiliki Fox News, Fox Sports, dan Fox Broadcasting, tidak termasuk ke dalam kesepakan ini. Nama mereka di Nasdaq pun dibedakan antara FOX dan FOXA untuk 21st Century Fox.

Gaji CEO Disney Dipotong hingga Ratusan Miliar, Mengapa?

Bos Walt Disney, Bob Iger memberikan sambutan di samping Minnie Mouse saat menerima penghargaan Hollywood Walk of Fame atas nama Minnie Mouse di Los Angeles, Senin (22/1). (Alberto E. Rodriguez/GETTY IMAGES NORTH AMERICA/AFP)#source%3Dgooglier%2Ecom#https%3A%2F%2Fgooglier%2Ecom%2Fpage%2F2019_04_14%2F351790

Bayaran CEO Disney, Bob Iger berkurang sebanyak USD 13,5 juta pada awal Maret ini. Sayangnya pihak Disney tidak dapat membeberkan mengapa hal ini terjadi. Namun ternyata pemotongan ini sudah di setujui oleh Bob Iger sendiri.

Seperti yang dilansir pada laman CNBC, Bob mengatakan bahwa apa yang terjadi saat ini mungkin adalah yang terbaik baginya dan Disney.

Pada tahun lalu, Bob Iger mendapatkan USD 65,6  juta untuk kinerjanya. Selain itu, ia juga mendapatkan bonus hingga USD 35 juta dan perpanjangan masa jabatan hingga 2021.

Namun ternyata, tahun ini Disney pun menghapuskan kenaikan gajinya sebanyak USD 500 ribu dan membuat gajinya hanya tetap USD 3 juta. 

Tidak hanya gajinya saja, potensi bonys tunai yang dimilikinya juga akan berkurang dari USD 20 juta menjadi USD 12 juta. Serta intensif jangka panjangnya yang turun dari USD 25 juta menjadi USD 20 juta.


          Meet Erica Herman, Tiger Woods' mysterious girlfriend who often joins him at big tournaments      Comment   Translate Page      

Tiger Woods Erica HermanRob Carr/Getty

  • Erica Herman has become a regular at Tiger Woods' biggest tournaments.
  • Herman is the general manager at The Woods, Tiger's high-class sports bar in Jupiter, Florida.
  • Visit BusinessInsider.com for more stories.

Tiger Woods did what some thought was impossible: He capped an epic season-long comeback in 2018 with his first PGA Tour win since 2013. 

Erica Herman—who formerly managed a restaurant Woods owns in Florida—was aon-site at East Lake Golf Club to celebrate with her boyfriend following his big victory. The next day, Herman joined Woods on his flight to Paris for the Ryder Cup at Le Golf National.

Below, take a look at what we know so far about Erica Herman and her relationship with Woods:

Matthew Michaels contributed reporting on a previous version of this article.

Multiple sources have cited Herman as being 33 years old, which makes her a full decade younger than her beau.

Rob Carr/Getty

Source: The Daily Mail



The Metro reports that Herman is a registered Republican who grew up in Orlando.

Rob Carr/Getty

Source: The Metro



Herman is the general manager at The Woods, Tiger's high-class sports bar in Jupiter, Florida.

Rob Carr/Getty

Source: The Woods




See the rest of the story at Business Insider

See Also:

SEE ALSO: Tiger Woods is back — here's how he spends his millions and lives his life off the course

DON'T MISS: 13 facts about cheating that couples — and singles — should know


          'El Chapo' Guzman is awaiting his fate in a US jail, but the Sinaloa cartel already has its next fight lined up      Comment   Translate Page      

El Chapo Guzman home townREUTERS/Roberto Armenta

  • Sinaloa cartel chief Joaquin "El Chapo" Guzman, convicted in New York in February, is awaiting what will almost certainly be a life sentence.
  • In Mexico, cartel violence churns on as cartels jockey to fill the void, and recent incidents suggest the organization he helped build is pursuing its next target.
  • Visit BusinessInsider.com for more stories.

Former Sinaloa cartel kingpin Joaquin "El Chapo" Guzman is in a Manhattan jail awaiting what will almost certainly be a life sentence in one of the US's most secure prisons.

Since his capture in early 2016, Mexico's criminal groups have fought on, and the cartel he founded and its rivals now appear to be opening a new phase in their battle for dominance.

See the rest of the story at Business Insider

NOW WATCH: The wives of El Chapo's henchmen reveal how they hid and spent $2 billion

See Also:

SEE ALSO: The son of one of Mexico's most powerful kingpins describes growing up in the narco underworld — 'in a golden cage'


          Tiger Woods is in the hunt for the lead at the Masters, and a single swing showed why the rest of the field should be nervous      Comment   Translate Page      

tiger woodsCharlie Riedel/AP

Tiger Woods briefly moved into a tie for the lead at the Masters with a masterful performance on Saturday.

On hole No. 16, Woods eagled to move to 11-under, in a tie with Francesco Molinari.

See the rest of the story at Business Insider

NOW WATCH: NBA legend Kareem Abdul-Jabbar explains why the NCAA should pay college athletes

See Also:


          How to use FreshDirect to make grocery shopping easy and convenient      Comment   Translate Page      

Insider Picks writes about products and services to help you navigate when shopping online. Insider Inc. receives a commission from our affiliate partners when you buy through our links, but our reporting and recommendations are always independent and objective.

FreshDirectFreshDirect/Facebook

  • Going grocery shopping no longer has to mean getting off your couch — at least, not if FreshDirect has anything to say about it.
  • Here's how to use the grocery delivery service to get all your favorite foods, produce, and even alcohol shipped right to your door.
  • You can also read our full review of FreshDirect to learn more about the service.

Fresh Direct is an online grocery delivery service that is on a mission to deliver foodstuffs directly to your door. The service offers both convenience and quality for people who may not have time to pick up groceries from the store.

See the rest of the story at Business Insider

See Also:


          The Masters has changed the schedule for the final round. Here is what it means for the players and the TV broadcast      Comment   Translate Page      

Masters Best Pictures 2019Matt Slocum/AP

  • Augusta National Golf Club has changed the schedule for the final round of the Masters due to the expectation of severe weather in the afternoon.
  • Usually, the golfers would tee off in pairs starting at 11:00 a.m. ET.
  • Instead, the round will start at 7:30 a.m, with the golfers playing in threesomes and half the golfers beginning on the back nine.
  • The leaders will tee off at 9:20 a.m., more than five hours earlier than usual.
  • Read all of Business Insider's Masters coverage here.
  • Visit BusinessInsider.com for more stories.

The Masters schedule for the final round is taking a major shift, and the leaders will be teeing off more than six hours earlier than usual.

Thanks to some expected severe weather, the final round is now scheduled to start at 7:30 a.m. ET, approximately three hours earlier than the originally scheduled start.

See the rest of the story at Business Insider

NOW WATCH: NBA legend Kareem Abdul-Jabbar explains why the NCAA should pay college athletes

See Also:


          A 76ers player was seen texting on the bench while his team trailed by double-digits in Game 1 of the playoffs      Comment   Translate Page      

amir_johnson_textingESPN/NBA

  • Philadelphia 76ers reserve forward Amir Johnson was seen texting from the bench during the fourth quarter of the Sixers' Game 1 loss to the Brooklyn Nets.
  • Moments later, cameras showed Johnson leaving the bench and running back to the locker room. 
  • Johnson was criticized for the move, though it's unclear why he was texting or why he left.

ESPN cameras caught Philadelphia 76ers reserve forward Amir Johnson texting on the bench during their Game 1 loss to the Brooklyn Nets.

The incident happened during a timeout in the fourth quarter with the 76ers trailing the sixth-seeded Nets by double-digits. When ESPN returned from break, analyst Doris Burke criticized Johnson and Joel Embiid, who was sitting next to Johnson, for having the phone on the bench.

See the rest of the story at Business Insider

NOW WATCH: NBA legend Kareem Abdul-Jabbar explains why the NCAA should pay college athletes

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          If Tiger Woods wins the Masters, one gambler would pocket $1.2 million      Comment   Translate Page      

Tiger Woods Masters practice roundAndrew Redington/Getty Images

  • This weekend the best golfers in the world will meet at Augusta National to compete in the Masters.
  • One bettor put $85,000 on Tiger Woods to win, a wager that would be worth $1.19 million should Woods earn his fifth green jacket on Sunday.
  • Woods hasn't won a major since 2008, but has been in great form recently and plays Augusta National as well as any player in the field.
  • Read all of Business Insider's Masters coverage here.
  • Visit BusinessInsider.com for more stories.

Tiger Woods has always been a favorite pick for golf bettors, but when the Masters tees off on Thursday, one gambler will have a lot riding on Woods' performance.

On Tuesday a bettor placed an $85,000 wager on Woods to win the tournament at 14/1 odds that would cash for $1.19 million should he go on to win a fifth green jacket.

See the rest of the story at Business Insider

NOW WATCH: The NCAA brings in $1 billion a year — here's why it refuses to pay its college athletes

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          23 examples of Tiger Woods' extraordinary competitiveness      Comment   Translate Page      

tiger woods 2018Andrew Redington/Getty

Tiger Woods is one of the most fiercely competitive golfers in the world.

From his cold demeanor on the course, relentless work ethic, and desire to do nothing else but win, there are endless stories about Woods' insane competitiveness.

Woods is back competing at a high level and competing for major championships. Relive some of the greatest examples of Woods' competitiveness below:

When Woods was 14 he said he could be the Michael Jordan of golf.

YouTube

Source: Golf.com



He has practiced before and after competitive rounds: He was spotted playing in the dark at the 2011 PGA Championship.

Nike Golf

Source: Nike Golf



He used to have a crazy, non-stop daily routine.

Ezra Shaw/Getty Images

Woods recently revealed what his daily routine was when he was younger:

"I used to get up in the morning, run four miles. Then I'd go to the gym, do my lift. Then I'd hit balls for two to three hours, I'd go play, come back, work on my short game, I'd go run another four more miles, and then if anyone wanted to play basketball or tennis, I would go play basketball or tennis. That was a daily routine. I'm not doing any of that now."




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          The best conditioners for curly hair      Comment   Translate Page      

Insider Picks writes about products and services to help you navigate when shopping online. Insider Inc. receives a commission from our affiliate partners when you buy through our links, but our reporting and recommendations are always independent and objective.

the best conditioners for curly hair

  • Conditioner is one of the most important — if not the most important — part of a curly hair care routine. It moisturizes dry curls and cuts down on frizz.
  • DevaCurl One Condition is a nourishing olive oil-infused formula that hydrates curls without weighing them down.

A good conditioner is useful for most hair types, but absolutely essential for curls. All varieties, from loose waves to coarse coils, can benefit from the nourishing effects of conditioner. Textured hair requires more moisture to retain a defined shape and cut down on frizz.

I've tried many conditioners over my 27 years of having a head, and have found that the ones specifically formulated for curls tend to perform better for me. Tempting as it is to use any old combination shampoo/conditioner hybrid, you'll be happier if you pay more attention the ingredients.

Not all curl conditioners are created equal. My hair is quite curly, but also pretty fine. It tends to frizz easily and fall flat when it hasn't been properly cared for. I gravitate toward moisturizing, but not heavy formulas. Someone with very dry, thick hair should look for a deep conditioner to give strands a heavy dose of hydration and definition.

Here are the best conditioners for curly hair in 2019:

Read on in the slides below to check out our top picks.

The best conditioner for curly hair overall

Ulta

Why you'll love it: DevaCurl One Condition is a creamy, hydrating formula infused with olive oil that's suitable for most hair types.

DevaCurl One Condition is considered the holy grail of curly products, and the label is well-deserved. It’s truly fantastic. Maybe I’m biased, because DevaCurl products and styling methods changed my hair care life. But One Condition is ideal for many hair types.

The formula is creamy and hydrating, infused with olive oil and the brand’s signature lemongrass scent. It’s not a super thick or heavy product, but it’s nourishing enough to dramatically cut down on frizz and help define ringlets without weighing them down.

Curl authorities at Naturally Curly recommend this conditioner for the 2C curl type, which tends to be "tends to be more resistant to styling and will frizz easily." This conditioner has been featured by The Strategist, Allure, Byrdie, Bustle, and Rank and Style. Shoppers at Ulta give it a 4.5 rating based on 690 reviews.

One shopper writes, "I use this during each wash day (every 4 days) and it consistently brings back life to my curls. I've also started putting about 1 tbsp into my mister, mixed with water, for daily curl refreshing. Its light enough to not weigh down my thin hair, and doesn't make my hair greasy."

Pros: Cuts down on frizz, hydrating, works for a variety of curl types, available in two sizes

Cons: Expensive, strong scent

Buy DevaCurl One Condition at Ulta for $46



The best color-treated hair

Ulta

Why you'll love it: The Unwash Bio-Cleansing Conditioner cleans and conditions hair without stripping strands of essential moisture or vibrant dye.

Unwash makes products for all hair types, but many of the brand's products are especially excellent for curls. I personally like the Bio-Cleansing Conditioner. It's a co-wash that cleanses and conditions strands in one go (but it's not a shampoo).

The product boasts a "unique formula" that "attracts and removes daily dirt and surface build-up without stripping hair of its healthy, natural oils." It cuts down on frizz and helps create defined ringlets with minimal post-shower styling required.

This non-stripping, nourishing effect makes this an especially good choice for color-treated hair. The product claims to "[lock] in natural oils & color," so it contributes to keeping dyed hair vibrant and well hydrated. Unlike many conditioners, this one can be used on the scalp as well to access the full cleansing benefits.

Ulta shoppers rate the product 4.5 stars, based on 181 reviews, and it's been featured by Allure and Into the Gloss.

"This is the first cleaning conditioner I have tried (have used 5-6) that didn't leave my hair weighed down or very brittle. My hair was damaged 8 months ago from bleaching. I never thought my hair would look or act like it did before the damage till this conditioner. This leaves my curly hair soft and bouncy again and not weighed down," writes one shopper.

Pros: Cleanses and conditions, non-stripping, free of sulfates and parabens, can be used on color-treated hair

Cons: Expensive

Buy Unwash Bio-cleansing Conditioner at Ulta for $29



The best drugstore conditioner

Target

Why you'll love it: The Kristin Ess Frizz Management Cleansing Conditioner is an affordable option that works as well as its salon-branded counterparts.

Kristin Ess products are a delight to use, with sleek packaging and a nice floral scent. Plus everything in the range (besides the recently-launched electronic tools) costs less than $15 at Target.

My most recent fave is the Kristin Ess Frizz Management Cleansing Conditioner — and not just because of the photogenic pink packaging. It’s a creamy, lightweight cleansing conditioner that combats frizz and humidity and whisks away dirt and buildup while retaining moisture in just one step.

"The best cleansing conditioner! I have curly hair that needs extra care and no shampoo. This is a quality conditioner that cleanses and is affordable," writes one Target shopper. "My daughter has very thick, curly hair. She loves this and said it feels much softer since using this. I love the dry shampoo too!" says another.

Racked writer Tanisha Pina also gives the product high marks.

Pros: Affordable, cleanses and conditions, good for all curl types

Cons: Strong fragrance, can be hard to get product out of packaging

Buy Kristin Ess Frizz Management Cleansing Conditioner at Target for $14




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          Man who allegedly pushed 5-year-old from Mall of America balcony has history of police run-ins at the scene of the crime      Comment   Translate Page      

mallGetty Images

  • A five-year-old boy was pushed from the third-story balcony at the Mall of America in Minnesota. 
  • The boy is reportedly still alive, but police have not provided more details than that.
  • Twenty-four-year-old Emmanuel Deshawn Aranda was taken into custody following the incident. 
  • Arrest records obtained by local station WCCO show that Aranda has previously had run-ins with police at the mall.
  • Once he was arrested after police were called about someone throwing objects from the top balcony of the mall to the bottom level. Another time, he was arrested after a woman said he assaulted her after she refused to buy him food.
  • Visit INSIDER's homepage for more.

Authorities say a five-year-old boy who was thrown from a third-floor balcony at the Mall of America near Minneapolis remains hospitalized with serious injuries.

Bloomington police Chief Jeffrey Potts said in a news conference Saturday that the boy fell nearly 40 feet after a man threw him off the balcony Friday. Authorities haven't released the boy's name and say his family is requesting privacy.

See the rest of the story at Business Insider

NOW WATCH: 12 everyday phrases that you're probably saying incorrectly

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          What the NBA's biggest stars looked like when their careers began      Comment   Translate Page      

giannis antetokounmpo 2013Morry Gash/AP

  • Many of the NBA's biggest stars have grown up right before our eyes.
  • It is easy to forget just how young they were and looked when they entered the NBA.
  • We gathered some then-and-now photos for many of the NBA's biggest stars. 

It's easy to forget how far some of the league's biggest stars have come.

LeBron James has dominated the NBA  for 16 years now and is 34, quite different than when he entered the NBA straight out of high school. Stephen Curry, once an undersized, baby-faced guard, is now 31, a seasoned veteran for the Warriors. James Harden once wasn't so...beard-y.

Take a look at photos of the NBA's biggest stars when their careers began and today.

LeBron James in 2004 (19).

Mark Duncan/AP

James today (34).

Harry How/Getty

James Harden in 2009 (20).

David Zalubowski/AP


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          Fisher-Price has recalled its Rock 'n Play product after more than 30 children died, and it raises concerns about all restraint-based incline sleepers      Comment   Translate Page      

fisher price360b/Shutterstock.com

Fisher-Price is recalling 5 million infant sleepers after the deaths of more than 30 babies were linked to their use.

The New York Times reported that in most cases, the babies suffocated after rolling over onto their stomach or side from their back.

See the rest of the story at Business Insider

NOW WATCH: A mathematician gave us the easiest explanation of pi and why it's so important

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SEE ALSO: The worst interior design trends everyone was obsessed with the decade you were born, according to experts

SEE ALSO: See what life is like for 'Fixer Upper' couple Chip and Joanna Gaines, who cofounded the Magnolia empire and are raising 5 kids on a farm in Waco, Texas


          Here are the 41 best photos from the Masters so far      Comment   Translate Page      

Masters Best Pictures 2019David J. Phillip/AP

The Masters is the most prestigious golf tournament in the world, and it is also one of the most beautiful events in sports.

The beauty of the Masters is one of many things that make it so special, and the talented photographers at the Associated Press and Reuters capture that artistry in their work. 

Read more: 36 things that make the Masters one of the quirkiest events in sports

We've collected the best photos so far. Take a look below.

Jack Nicklaus hits a ceremonial tee shot to start the tournament.

Mike Segar/Reuters

The patrons celebrate a Justin Thomas birdie.

Charlie Riedel/AP

Jason Day chips with the iconic Masters scoreboard in the background.

Mike Segar/Reuters


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          A huge new 'Star Wars' game where you play as a Jedi is coming out this November      Comment   Translate Page      

Star Wars Jedi: Fallen OrderEA/Disney/Respawn Entertainment

  • A huge new "Star Wars" game was unveiled on Saturday, named "Star Wars Jedi: Fallen Order."
  • The game is being made by Respawn Entertainment, the same studio that created "Titanfall" and "Apex Legends." It arrives on November 15, for Xbox One, PlayStation 4, and PC.
  • "Star Wars Jedi: Fallen Order" fits into the movie canon between the events of "Episode 3" ("Revenge of the Sith") and "Episode 4" ("A New Hope").
  • Visit Business Insider's homepage for more stories.

A huge new "Star Wars" game was revealed on Saturday: "Star Wars Jedi: Fallen Order" is expected to arrive November 15 on Xbox One, PlayStation 4, and PC.

It's a single-player action game focused on lightsaber combat and Force powers. 

Even better: The game is being made by Respawn Entertainment, the same studio behind the excellent "Titanfall" series and recent blockbuster "Apex Legends."

Here's everything we know so far:

1. "Star Wars Jedi: Fallen Order" is a single-player action game with some light puzzle solving.

EA/Disney/Respawn Entertainment

The gameplay in "Star Wars Jedi: Fallen Order" sounds more along the lines of "God of War" than "Star Wars Battlefront." 

"Players will use their Jedi training to create different melee combinations with an innovative lightsaber combat system and Force abilities," the game's press release says. "Players will also use traversal and other platforming abilities to strategically overcome opponents and solve puzzles in their path across this galaxy-spanning adventure."

In short: Melee-focused combat with some level of customization, in addition to special "Force" powers and movement.

 



2. It stars an entirely new character: Cal Kestis.

EA/Respawn Entertainment/Disney

Spoilers for "Episode 3" ahead!

In "Star Wars: Revenge of the Sith" ("Episode 3"), a very moody Anakin Skywalker — before turning into everyone's favorite cyborg, Darth Vader — sets out to destroy the Jedi Order.

It's part of a bigger Jedi purge, known as "Order 66." Few Jedi survived the purge, but apparently the main character in "Star Wars Jedi: Fallen Order" is one of those few.

This is Cal Kestis, played by actor Cameron Monaghan.

It's not clear how Kestis escaped the purge or how he's related to the more well-known "Star Wars" characters. What is clear is that he'll start out on a planet named "Bracca," which is entirely new for the "Fallen Order."



3. There will be some fan service, as you might expect.

Screenshot/Empire Strikes Back

Given the timing of "Star Wars Jedi: Fallen Order" — falling in-between the events of "Revenge of the Sith" and "A New Hope" — it's not clear which major characters could show up. Perhaps Obi-Wan Kenobi, or a burgeoning Darth Vader? We'll see!

All we know so far is what was teased in the announcement: "'Star Wars' fans will recognize iconic locations, weapons, gear, and enemies, while also meeting a roster of fresh characters, locations, creatures, droids and adversaries new to 'Star Wars.'" 




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          Stratolaunch, the giant aircraft developed by Paul Allen, just took its first flight in California      Comment   Translate Page      

Stratolaunch flight(AP Photo/Matt Hartman)

  • The Stratolaunch, an aircraft developed to air-launch small satellites, took its first flight on Saturday.
  • Stratolaunch calls its aircraft the world's largest, and it has the world's longest wingspan, though other aircraft exceed it in length.
  • Visit BusinessInsider.com for more stories.

LOS ANGELES (AP) — A giant six-engine aircraft with the world's longest wingspan landed its first flight after some two hours in the air Saturday.

The behemoth, twin-fuselage Stratolaunch jet lifted off from Mojave Air and Space Port and climbed into the desert sky 70 miles north of Los Angeles. Founded by the late billionaire Paul G. Allen, Stratolaunch is vying to be a contender in the market for air-launching small satellites.

The aircraft is designed to carry as many as three satellite-laden rockets at a time under the center of its enormous wing, which stretches 385 feet — a longer wingspan than any other aircraft. At an altitude of 35,000 feet, the rockets would be released, ignite their engines and soar into space.

The advantages of such air-launch systems include being able to use numerous airports and avoid the limitations of fixed launch sites which can be affected by weather, air traffic and ship traffic on ocean ranges.

(AP Photo/Matt Hartman)

Allen, the cofounder of Microsoft, founded Stratolaunch Systems Corp. in 2011 after emerging in aerospace by funding the development of the experimental air-launched SpaceShipOne, which in 2004 became the first privately built manned rocket to reach space.

Steve Dykes / Getty Images

After Allen's death in October 2018, Stratolaunch dropped plans to develop its own type of rocket engine and a family of launch vehicles, focusing instead on getting the giant plane airborne and launching Northrop Grumman's proven Pegasus XL.

(AP Photo/Matt Hartman)


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SEE ALSO: China built the world's biggest amphibious plane, and its latest test could give Beijing an edge in the South China Sea


          Apple finally updated the iPad Mini — here's how much the new and old model cost      Comment   Translate Page      

Insider Picks writes about products and services to help you navigate when shopping online. Insider Inc. receives a commission from our affiliate partners when you buy through our links, but our reporting and recommendations are always independent and objective.

iPad Mini 2019

Of all the Apple iPad tablets, the compact iPad Mini might be the most overlooked and under-appreciated. However, with its 7.9-inch screen, it's the best small tablet you can buy, so we're glad Apple decided to refresh the iPad Mini lineup with a new model.

If you're one of the Apple fans who loves its littlest tablet, or if you're just scoping out iPad prices and the Mini caught your eye, we've broken down the prices of the new iPad Mini 5 as well as the older Mini 4 so you can choose which one to buy.

We recommend you buy the newer iPad Mini 5, because the 4 and its processor are quite old now and the older version won't last you as long as the new one. If you want to save money and don't mind a bigger tablet, grab the 2018 iPad.

Read on to find out more about the different iPad Mini models you can buy and how much they cost.

iPad Mini 5 price: The best small iPad

Apple

At a glance, the new iPad Mini 5 looks almost exactly like its predecessor.

Under the hood, though, it sports a few improvements: It now supports the Apple Pencil, so you can use your tablet like a notepad to write and draw. It also boasts a new A12 Bionic chip, which delivers snappier performance than the Mini 4’s older A8 chipset.

The iPad Mini 5 is available with either Wi-Fi and cellular LTE connectivity or with Wi-Fi only. Whereas the Mini 4 is only available now with 128GB of storage, you’ve got a choice of either 64 or 256GB of internal storage with the Mini 5. This gives you a few more options at different price points.

Because it has improved hardware and was just released, the new Mini is naturally going to be more expensive the older Mini 4. Prices start at around $400 for the basic 64GB model.

This is the one you should buy.

iPad Mini 5 7.9-inch (Wi-Fi only)

iPad Mini 5 7.9-inch (Wi-Fi + cellular LTE)

*Prices may vary as iPads go on sale.

Read our full guide to the best iPads you can buy in 2019



iPad Mini 4 price: We don't recommend this older, discontinued model

Apple

New device releases mean price drops on the older models as retailers offload their old stock to make way for the new.

In this case, the iPad Mini 5’s surprise launch provides a good opportunity to snatch up a 4th-generation Mini at a discount, as Apple hardware doesn’t often go on sale and the Mini 4 is being officially discontinued.

The 7.9-inch iPad Mini 4 was released in 2015, so it’s very old with an out-dated processor that won't last as long. We don't recommend you buy it, but if you must consider it, here are the prices.

You cans still grab an iPad Mini with 128GB of storage for around $340 to $350 right now, which brings it a bit closer in price to the standard 2018 iPad. We think you should get the 2018 iPad if price is your main concern, because it has newer tech inside than this ancient Mini.

iPad Mini 4 7.9-inch (Wi-Fi only)

iPad Mini 4 7.9-inch (Wi-Fi + cellular LTE)

*Prices may vary as iPads go on sale.

Check out our full breakdown of every iPad price



iPad 2018 price: A full-sized option for those on a budget

Hollis Johnson/Business Insider

The full-sized 2018 iPad has a slimmed-down design, solid hardware, great Retina display, easy-to-use software, and a very reasonable price. It is simply the best iPad for most people.

The iPad is also surprisingly affordable for an Apple product, starting at $330. If you're lucky to catch it on sale, the iPad fairly frequently drops down to an even more attractive price of $250 or so. It's a much better buy than the old Mini 4.

iPad 9.7-inch (Wi-Fi only)

  • Amazon: $318 (32GB), $329 (128GB)
  • Apple: $329 (32GB), $429 (128GB)
  • Best Buy: $329.99 (32GB), $429.99 (128GB)

iPad 9.7-inch (Wi-Fi + cellular)

  • Amazon: $459 (32GB), $529 (128GB)
  • Apple: $459 (32GB), $559 (128GB)
  • Best Buy: $459.99 (32GB), $559.99 (128GB)

*Prices may vary as iPads go on sale.



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          Trump labeled Iran's most powerful military branch a terrorist group, and it's ready to strike back      Comment   Translate Page      

iran revolutionary guardAP Photo/IRNA, Mostafa Qotbi

  • The Trump administration has designed Iran's elite Revolutionary Guard's as a foreign terrorist organization.
  • The potential for a clash between the US and Iran is already on the rise, and the designation only adds to the risk, argue Colin P. Clarke and Ariane Tabatabai.
  • Visit BusinessInsider.com for more stories.

On Monday, in an unprecedented move, US President Donald Trump’s administration designated Iran’s Islamic Revolutionary Guard Corps (IRGC) as a foreign terrorist organization.

The decision wasn’t entirely unjustified: The IRGC creates, trains, funds, arms, and deploys forces with thousands of fighters beyond Iran’s borders. These include local insurgents but also terrorist groups, such as Hezbollah. IRGC-backed forces are responsible for the deaths of hundreds of US service members.

See the rest of the story at Business Insider

NOW WATCH: A historian of Islam explains how Trump and his team’s rhetoric could fuel radicalization

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SEE ALSO: Trump has labeled Iran's Revolutionary Guard as terrorists — here's what you need to know about the shadowy group's long reach


          Millennials might say they want to buy a house, but too many aren't doing anything about it      Comment   Translate Page      

suburb

It's no secret millennials are eager to be homeowners.

Earlier this year, a Realtor.com report revealed millennials as a generation are now responsible for the largest share of new mortgage loans by dollar volume, narrowly surpassing Gen X for the first time. As millennials age and start families, they're buying more homes than ever, and they're making lower down payments despite rising home prices, which require larger mortgages.

Results from a recent INSIDER and Morning Consult survey may offer some insight as to why millennials are increasingly relying on mortgages: Many are just not saving enough cash.

Of the 4,400 Americans polled, 1,207 identified as millennials, defined as ages 22 to 37 (237 respondents did not select a generation). The margin of error was plus or minus 1 percentage point.

While 40% of surveyed millennials who expect to own a home in the future are saving for one — though we don't know how much — about 31% of millennials said they expect to own, but aren't currently saving at all.

How much would a home cost you? Find out with these offers from our partners:


According to a recent SmartAsset study, it would take the median earner in the 25 largest US cities between four and 10 years to save enough cash for a 20% down payment on a median-priced home. That's generously assuming they're saving 20% of their annual income for the down payment, but most probably aren't.

Read more: Millennials are delusional about the future, but they aren't the only ones

However, Realtor.com found millennials' down payments are typically lower than those of Gen Xers and baby boomers at an average of an 8.8% down payment on a mortgaged home, despite the fact that they're generally buying cheaper homes at a median price of $238,000.

On the whole, millennials' savings are abysmal, according to the INSIDER and Morning Consult survey. While 70% of millennial survey respondents have a savings account, 58% have a balance under $5,000. That's likely not enough to cover expenses in the event of an emergency, let alone a down payment and closing costs. 

Millennials' paltry savings are likely attributable to a heavy debt load. Despite mostly steering clear of credit-card debt — 32% have none at all and 36% have under $5,000 — nearly 45% of millennials have student-loan debt. When asked what they would do with an extra $1,000 cash, millennials were more likely to prioritize paying off debt over saving (a difference of five percentage points), the survey found.

Read more: Nearly half of indebted millennials say college wasn't worth it, and the reason why is obvious

Molly Stanifer, a financial advisor with Old Peak Finance, recommends aspiring homeowners make a "savings policy" once they decide when they want to buy a home, whether it's in two years or 10 years. 

"It includes a monthly automatic amount and then a percentage of any larger inflow, like a bonus," Stanifer previously told Business Insider. "That will give a pretty clear expectation of when and how to accomplish the goal. Then, the client could set their own goals of cutting back spending or saving additionally beyond the automatic amounts to reach their goal faster."

Stanifer recommends aiming for a 20% down payment and putting the cash in a savings account or non-retirement brokerage account. "They are both liquid — or could be withdrawn easily — and have a low chance of changing much in value from the time you put the money in to the time you need it," she said.

Stanifer said it's ultimately best to hold your down payment fund in one account and not over-complicate diversification. Keeping the money safe and accessible is key.

Can you afford your dream home? Find out with this calculator from our partners:

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NOW WATCH: Shaq is joining the board of Papa John's — here's his simple piece of advice for NBA players who don't want to lose their millions


          The cofounder of MoviePass recounts what led to his firing from the company he'd built from the ground up      Comment   Translate Page      

MoviePass

  • MoviePass cofounder Stacy Spikes breaks his silence about what led to his exit from the company.
  • Spikes told Business Insider that in January 2018, he was let go after months of disagreeing with the new owner of MoviePass, Helios and Matheson Analytics, about the $10 subscription price point.
  • Though it was giving the company thousands of new subscribers, Spikes felt it wasn't sustainable.
  • Visit BusinessInsider.com for more stories.

 

MoviePass cofounder Stacy Spikes admits he was not a happy camper a few months after Helios and Matheson Analytics bought MoviePass in summer 2017. And it's likely a big reason why he was then let go in the new year. 

Since 2005, Spikes had been building the scrappy startup into a revenue stream the US box office had never had before: movie-ticket subscription. The app was evolving with the times and slowly growing in popularity among moviegoers, with the price point ranging from $12 a month to up to $75 (which included access to 3D and IMAX showings). 

But the moment when the company suddenly came into the popular lexicon, and grabbed the attention of the industry, was in 2017 when Helios and Matheson Analytics became interested in buying MoviePass.

"Ultimately the proposal came in at $25 million for 51% of the company," Spikes told Business Insider. "And in the proposal it said they wanted us to temporarily drop the subscription price to $10 to help climb up to 100,000 subscriptions." 

Spikes said nothing in that proposal worried him, and in the summer of 2017, Helios and Matheson became the owners of MoviePass. In August of that year, the $10-a-month to see a movie a day deal was launched and MoviePass hit 100,000 subscribers in 48 hours. 

Stacy Spikes Getty"So I'm like, 'OK, turn it off, we reached our goal,'" Spikes said.

But the attention MoviePass suddenly received was too intoxicating for most at the company, especially the new owners. And despite Spikes' warnings, things went forward.

"Where things started to divide is: Myself and a handful of others were methodical about testing price points," Spikes said. "The lowest we ever got down to was $12.99 and as high as $75, where we added Imax and 3D. We knew what was sustainable. But the overriding voice was, 'No, this is awesome, look how fast we're growing.' And it was this moment of 'but $10.' It doesn't fly."

By December, Spikes said the company was growing at a quarter million subscribers a month. And despite his warnings that the company could not survive at that price point, no one would listen. 

With a clear divide between Spikes and the new leaders of the company — Mitch Lowe, who came on as CEO in 2016 (Spikes took the role of COO), and Helios and Matheson CEO Ted Farnsworth — Spikes said he received an email on January 9, 2018 that his services we no longer needed at the company.

Read more: Disney revealed the details of its Netflix rival, Disney Plus, including its price and release date

"After that, I've never spoken to Mitch or Ted," Spikes said. "And I've been watching it all unfold, like everyone else."

Spikes said he and the leadership "just disagreed on the approach." But he's not bitter about leaving the company he launched because, in his eyes, the idea of movie-ticket subscription working in the industry became a reality with AMC, Cinemark, Sinemia, Studio Movie Grill, soon Alamo Drafthouse, and others all getting into the movie-ticket subscription game.

"The good side was cinema had not been taken seriously since Netflix really got its footing," Spikes said. "So what I liked about that was this had risen to the zeitgeist of conversation. 75% of our members were under the age of 26. Cinema was an event people cared about again. So while there is a sadness around the brand, I was happy to see that this is front and center."

Read the entire Business Insider interview with Stacy Spikes. 

SEE ALSO: The 4 new Netflix original movies and TV shows released this weekend

Join the conversation about this story »

NOW WATCH: Here's what Nickelodeon slime is made of — according to 'Double Dare' host Marc Summers


          A mysterious condition makes marijuana users violently ill, and it reveals a hidden downside to the drug's growing popularity      Comment   Translate Page      

alice moon last supper chs cannabis

  • Frequent marijuana use appears to be causing a mysterious syndrome characterized by severe nausea and repeated vomiting.
  • Little is known about the condition, which is called cannabinoid hyperemesis syndrome, or CHS.
  • Business Insider interviewed half a dozen patients diagnosed with CHS, as well as emergency-room doctors who've treated it and scientists who are studying it.
  • Patients say the condition has turned their lives upside down. Experts are concerned it may be more common than once believed.
  • Marijuana is gaining acceptance in the US as more states legalize the drug. But we're just beginning to understand the variety of benefits and risks associated with it.
  • Visit BusinessInsider.com for more stories.

Alice Moon once reviewed marijuana edibles for a living. So when a doctor told the 29-year-old Californian that she had to stop using cannabis because of a newly discovered syndrome, it threatened to turn her world upside down.

Before giving up the drug, she wanted one last hurrah. She'd end five years of daily weed use on a high note, she thought.

At a special dinner that evening, Moon ate a five-course cannabis-infused meal prepared by the award-winning chef Holden Jagger. Between dishes, Moon and the other guests were encouraged to take hits of an assortment of joints,  hand-selected to complement the flavors in each dish.

Before the meal began, Moon joked with Jagger that it would be her last supper.

A few hours later, she was at home vomiting uncontrollably. She'd spend the next few days in the hospital.

Moon had previously been diagnosed with a condition called cannabinoid hyperemesis syndrome, or CHS.

Very little is known about CHS, which was first identified in the early 2000s. The recognized hallmarks of the condition are heavy, consistent marijuana use, violent vomiting and nausea, and a tendency to use extremely hot baths or showers for relief.

Initially believed to be very rare, CHS has increasingly cropped up in medical journals and emergency rooms (ERs) around the world. There is no known cure. The only long-lasting treatment is quitting cannabis completely.

The condition may be preventable, however, which is one reason doctors and researchers say they want more people to know about it. Research suggests that more adults are using marijuana in recent years; whether that has to do with more states legalizing the plant remains unclear.

Cannabis isn't one drug. It is a plant with hundreds of compounds. Each of them could have a unique effect on our health. But we are only just beginning to scratch the surface of what those effects look like because the drug was widely illegal for decades, experts say.

Marijuana's benefits could include relief for the symptoms linked with serious health conditions, from pain and nausea to digestive issues and seizures. At the same time, its risks might include addiction, reduced cognitive performance, and CHS.

"We must recognize that the full range of potential adverse health consequences from cannabis consumption are not fully understood," Dr. Nora Volkow, the director of the National Institute on Drug Abuse, wrote recently in a major medical journal.

CHS could affect millions of Americans, but we don't know much about it

In interviews that Business Insider conducted with doctors, researchers, and more than half a dozen people who have symptoms of CHS, people painted a picture of a severe but still mysterious illness. Some researchers estimate it could affect millions of Americans; others hope it is less common.

Because marijuana remains illegal on the federal level and the condition was only recently identified, exact numbers on how many people have CHS are difficult to pin down.

The syndrome appears to affect people who consume marijuana heavily across all backgrounds, ages, and genders. Most say they've consumed cannabis several times a day for between two years and up to multiple decades. They describe a condition that appears suddenly and without warning, sometimes hours after marijuana consumption.

For people who've been using marijuana for years, it's as if a switch gets flipped. After the first occurrence, every time someone with CHS uses cannabis, they risk becoming violently ill. Using pesticide-free marijuana, edibles, concentrates, CBD-only products, or vape pens doesn't make a difference, they say.

In some cases, as with other chronic conditions, CHS appears to cause flare-ups that are difficult to predict. Patients can sometimes go weeks without symptoms and then suddenly suffer a particularly intense bout.

Many people with the condition end up in emergency rooms or urgent-care centers, and some are admitted to the hospital. Complications can range from mild to severe and include problems such as infections, kidney failure, and significant weight loss.

If left untreated, CHS can be deadly.

'People don't relate it to marijuana'

alice moon chs cannabis 2Initially, Moon was hesitant to believe that her illness was related to marijuana.

She'd been using the drug for half a decade with no symptoms. To make things more perplexing, she had first turned to cannabis as a way to relieve occasional pain and nausea linked to things such as menstrual cramps. Doctors say Moon isn't alone in her initial disbelief.

"People don't relate it to marijuana because they’ve been smoking for decades" with no recognizable issues, said Dr. Joseph Habboushe, an associate professor at New York University Langone Health and the lead author of a study on the condition published last year.

Moon had been using various forms of marijuana (edibles, concentrates in vape pens, and several strains of the flower form) daily for about three years. Then one day in 2016, several hours after smoking part of a joint, she ended up bowled over with nausea.

After that, she’d get sick to her stomach roughly every month or so. Thinking that alcohol might have something to do with her symptoms, she quit. It didn't help.

cannabinoid hyperemsis syndrome CHS graphic

She tried improving her diet. Nothing worked. Eventually, she wound up in an urgent-care center, where doctors diagnosed her with heartburn.

Moon's symptoms continued for more than a year. The only thing that helped was spending hours in a steaming-hot bath. 

In 2018, things took a turn. She was throwing up every week. A specialist she saw around that time said it could be CHS and told her the cure was to quit using marijuana. She didn't want to believe it, but she decided she needed to try quitting.

But before giving it up, she went to one last cannabis event. Moon described it as her last supper.

Moon spent that evening — and most of the next two weeks — in the bathroom. Every day, her vomiting was so bad she felt like she could barely come up for air. One morning, she was so weak that she passed out on her front lawn. At that point, she'd had enough.

'I was in denial. I didn't want to believe it was true.'

She quit marijuana completely for three months and was symptom-free. Then she tried CBD, hoping there was some form of cannabis she could enjoy. One day she took 200 milligrams of CBD in capsules. That night, she ended up in the ER.

Within about a week in the ER, Moon developed three ulcers, a hernia, and an infection. She dropped 12 pounds from her already slender frame, missed Christmas with her family and New Year's with her friends.

"I looked like I was dying," she recalled. 

emergency room hospital doctor patient bed

In Colorado, where marijuana is legal, CHS was recently identified as one of the leading drivers of emergency-room visits tied to cannabis.

For a study published last month, researchers looked at ER visits between 2012 and 2016 and concluded that stomach issues such as nausea and vomiting were the main cause of the trips, ahead of reasons such as intoxication and paranoia. Of the stomach issues, CHS was the most commonly reported problem.

"CHS is certainly not very rare," Dr. Andrew Monte, the lead author on the study and an associate professor of emergency medicine at UCHealth University of Colorado Hospital, told Business Insider. "We see it absolutely every week in our ER."

For Moon, it took a CT scan, an MRI, and an endoscopy to rule out other issues before she took her doctor's initial diagnosis to heart: She had CHS, and she had to stop consuming marijuana.

"I was in denial. I didn’t want to believe it was true," she said. "Cannabis is my world. It's my whole life."

Hot showers give temporary relief, but the only cure is quitting

Researchers first began describing the symptoms of CHS in the early 2000s, but it was not until recently that doctors in different hospitals around the world began defining it as a unique syndrome. Initially, it was often lumped in with other digestive conditions that share some of its features, such as cyclic vomiting.

It is still unknown how many cases of cyclic vomiting could actually be CHS, Habboushe said. Conversely, it’s also possible that some cases of CHS are something else entirely. Complicating things further, some people initially turn to marijuana to help with their nausea and vomiting. (The federally approved THC-containing drug Marinol is prescribed to treat the nausea and vomiting caused by treatments for cancer and AIDS.)

One of CHS's most distinctive features is the tendency for patients to use hot baths or showers to temporarily relieve the symptoms. Other standard remedies for nausea, such as anti-nausea medications, don't work.

Habboushe believes heat helps because of something to do with the way CHS interferes with the body's natural temperature and pain controls. For some reason, hot water signals to the body that everything is okay, and the pain and nausea from CHS subside for at least as long as the water remains scalding.

"It was this need to be swaddled," Susie Frederick, a 30-year-old Portland resident who was told she might have CHS last year, told Business Insider. "That feeling of needing comfort all over."

Frederick asked Business Insider not to use her real name because she works in the cannabis industry.

AP Photo/Matilde Campodonico

Frederick is unsure whether her symptoms are CHS or something else, perhaps something linked to hormonal changes. She has a history of other digestive issues, head injuries, and problems with her gallbladder, which complicate things.

Frederick said her episodes of vomiting and nausea tend to happen when she's on her menstrual cycle and when she's traveling or dealing with added stress. She had her first episode after she got a small upper-arm birth-control implant, which releases the hormone progestin to prevent pregnancy.

"It’s hard for me to say distinctly that CHS is actually what's happening. It does mimic quite a few other things," Frederick said. 

The nausea linked to CHS appears to be stronger and more intense than the typical nausea linked to things such as motion sickness or pregnancy, according to patients.

Barry Howard, a 28-year-old chef in Birmingham, Alabama, said what struck him most about his CHS was the feeling that he urgently needed to rid his body of something, such as a toxin. Business Insider isn’t using Howard’s real name because he lives in a state where cannabis is illegal.

"It’s not a normal, 'Oh, I’m sick to my stomach' feeling. You feel like your insides want to come out — like you’re trying to push something out," Howard told Business Insider.

Brian Smith died of dehydration after struggling with CHS for months

If someone with CHS keeps using marijuana, severe complications may unfold. In one case, a 17-year-old in Indiana named Brian Smith died after struggling with CHS for more than six months.

Regina Denney, Smith's mother, told Business Insider that Smith was first diagnosed with CHS in an emergency room in spring 2018. On the way to the hospital, he had been vomiting so badly that she had to pull to the side of the road about five times.

At the ER, doctors told Denney that her son was severely dehydrated and warned her that his kidneys, the body's natural toxin-filtering system, were on the verge of shutting down. 

At first, Denney thought his symptoms were related to the heartburn he'd been diagnosed with at age 10, which they'd been treating for years with doctor-prescribed medications such as Prilosec.

After putting Smith on fluids and running a series of tests, they decided to keep him in the hospital overnight.

While waiting on the results, a doctor asked Smith if he smoked marijuana. When he said yes, the doctor said she thought he had CHS. The doctor said CHS is caused by cannabis, and she told Smith the cure was quitting. She didn't say it could be deadly.

'All we'd ever heard about marijuana were the benefits'

Like others diagnosed with CHS, Smith was somewhat doubtful. He'd been using marijuana for years without problems. Nevertheless, he agreed to stop until he saw a specialist.

"All we’d ever heard about marijuana were the benefits," said Denney. "How it helps nausea, how it helps appetite."

The specialist, a gastroenterologist, confirmed the ER doctor's diagnosis a few days later and didn't run any additional tests. He said Smith had CHS and needed to stop using marijuana. Although Smith and his mom still had their doubts, she urged him to stop smoking.

The next two months were excruciating for Denney. Although her son had stopped vomiting — at least as far as she could tell — he continued to lose weight. He also occasionally complained about nausea. At first, she assumed it was related to his heartburn. But one day when she noticed his shoulder blades poking out from the thin cotton of his T-shirt, she began to suspect he was using cannabis again.

"He was skin and bones," Denney said.

Then one night, Denney got up in the middle of the evening to find her son on the couch in the living room holding his stomach. He said he didn't feel good. The next morning, he started vomiting violently. Between sprints to the bathroom, where she'd bend over to hold a bucket under her son and rub his back, and the kitchen, where she was making dinner for her infant grandson, Denney called the doctor.

They'd send some medicine for her to pick up at the pharmacy, they said. But when Denney picked it up, it was the same anti-nausea medication he'd gotten at the ER. After she told the doctor that the medicine they ordered didn't work, they said they would order something else. In the meantime, she went back home.

All of a sudden, at home, Smith collapsed. He grabbed his back, near his kidneys, then his chest. He told his mom he couldn't breathe. Denney immediately called 911. 

By the time the paramedics arrived, Smith had stopped breathing. They tried CPR. Smith was pronounced dead half an hour later.

On her birthday, Denney received her son's coroner's report. When Smith died, he had been severely dehydrated, according to the document. The cause of death on the report, which Business Insider viewed, read "dehydration due to CHS."

Denney couldn't believe it.

"I said marijuana couldn't have killed my son. It doesn’t take people’s lives," she said.

When Denney was cleaning out her car a few days after Smith died, she pulled her son's backpack from the backseat. Inside, she found an unsealed baggy of edibles that looked like candy.

"I have to do something to make people aware," Denney said. "I don’t want anybody to have to go through this. No parent should have to lose a child, especially to something like this."

'People say I work for the feds'

Some people with CHS are hesitant to talk about the condition out of fear that they’ll be viewed as opposed to marijuana and efforts to legalize the plant. Moon and Howard said they got significant pushback from friends, family members, and other people in their communities when they told them about CHS. 

After Moon shared an article that someone recently published about her experience with the condition, her inbox was flooded with hate mail.

"People say I work for the feds. People say I should leave the industry," she said.

Clinicians and researchers are studying marijuana compounds for their potential ability to treat dozens of ailments, and there's already a cannabis-based drug to curb epileptic seizures.

But, at the same time, as research into cannabis' potential benefits continues, a dicey marijuana-as-a-cure-all trend has sprouted. As they seek to take advantage of the growing public perception of cannabis as universally beneficial, hundreds of companies are hawking everything from CBD-based lotions and drinks to cupcakes and candy — many of them without research to support their claims.

By Chloe CBD CREDIT Leslie Kirchhoff2

People such as Moon, Frederick, and Howard — people who turned to marijuana because they said it helped with other health issues — appear to be caught in the middle. Frederick began using cannabis for sports injuries and said she also used it to help her transition off a high dose of antidepressants and anti-anxiety medications. 

Howard first turned to marijuana because he thought its therapeutic qualities outweighed its risks.

Howard, who was working toward a college scholarship, had played soccer competitively in high school when he developed a compression fracture in his lower back. The injury left him with lifelong pain. Wanting to avoid opioid painkillers out of concern he'd become addicted, he turned to cannabis.

"If anything, I thought [marijuana] was helping what I was going through," Howard said.

'This doesn't mean marijuana is bad or good'

man smoking marijuana weed cannabisMonte and Habboushe emphasized that most CHS patients are using very high levels of marijuana — far higher than what they’d consider standard or "recreational" use. To them, that suggests that while CHS is severe, it may also be avoidable with moderate cannabis consumption.

"Using in moderation is probably the best answer to help people avoid this," Monte said. "People who are using 10 times a day are likely at a high risk. Even just daily use is probably too much, unless you’re doing it for medical purposes."

Despite her struggle with CHS, Moon hasn't left the marijuana industry. She no longer reviews cannabis products, having given up any form of the drug, including CBD. Today, she works for multiple marijuana companies and serves as the head of public relations for a cannabis tech startup called Paragon. 

"I'm passionate about cannabis, and I believe in its healing properties. But I also recognize that maybe I’ve had too much," she said.

Since her son Brian's death, Regina Denney has created her own Facebook group in his memory. She hopes to raise awareness about CHS. 

"My goal is to bring something positive out of the heartbreak," she said.

SEE ALSO: A mysterious syndrome that makes marijuana users violently ill is starting to worry doctors

DON'T MISS: A drug derived from marijuana has become the first to win federal approval, and experts predict an avalanche effect

Join the conversation about this story »

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          Millennials might say they want to buy a house, but too many aren't doing anything about it      Comment   Translate Page      

suburb

It's no secret millennials are eager to be homeowners.

Earlier this year, a Realtor.com report revealed millennials as a generation are now responsible for the largest share of new mortgage loans by dollar volume, narrowly surpassing Gen X for the first time. As millennials age and start families, they're buying more homes than ever, and they're making lower down payments despite rising home prices, which require larger mortgages.

Results from a recent INSIDER and Morning Consult survey may offer some insight as to why millennials are increasingly relying on mortgages: Many are just not saving enough cash.

Of the 4,400 Americans polled, 1,207 identified as millennials, defined as ages 22 to 37 (237 respondents did not select a generation). The margin of error was plus or minus 1 percentage point.

While 40% of surveyed millennials who expect to own a home in the future are saving for one — though we don't know how much — about 31% of millennials said they expect to own, but aren't currently saving at all.

How much would a home cost you? Find out with these offers from our partners:


According to a recent SmartAsset study, it would take the median earner in the 25 largest US cities between four and 10 years to save enough cash for a 20% down payment on a median-priced home. That's generously assuming they're saving 20% of their annual income for the down payment, but most probably aren't.

Read more: Millennials are delusional about the future, but they aren't the only ones

However, Realtor.com found millennials' down payments are typically lower than those of Gen Xers and baby boomers at an average of an 8.8% down payment on a mortgaged home, despite the fact that they're generally buying cheaper homes at a median price of $238,000.

On the whole, millennials' savings are abysmal, according to the INSIDER and Morning Consult survey. While 70% of millennial survey respondents have a savings account, 58% have a balance under $5,000. That's likely not enough to cover expenses in the event of an emergency, let alone a down payment and closing costs. 

Millennials' paltry savings are likely attributable to a heavy debt load. Despite mostly steering clear of credit-card debt — 32% have none at all and 36% have under $5,000 — nearly 45% of millennials have student-loan debt. When asked what they would do with an extra $1,000 cash, millennials were more likely to prioritize paying off debt over saving (a difference of five percentage points), the survey found.

Read more: Nearly half of indebted millennials say college wasn't worth it, and the reason why is obvious

Molly Stanifer, a financial advisor with Old Peak Finance, recommends aspiring homeowners make a "savings policy" once they decide when they want to buy a home, whether it's in two years or 10 years. 

"It includes a monthly automatic amount and then a percentage of any larger inflow, like a bonus," Stanifer previously told Business Insider. "That will give a pretty clear expectation of when and how to accomplish the goal. Then, the client could set their own goals of cutting back spending or saving additionally beyond the automatic amounts to reach their goal faster."

Stanifer recommends aiming for a 20% down payment and putting the cash in a savings account or non-retirement brokerage account. "They are both liquid — or could be withdrawn easily — and have a low chance of changing much in value from the time you put the money in to the time you need it," she said.

Stanifer said it's ultimately best to hold your down payment fund in one account and not over-complicate diversification. Keeping the money safe and accessible is key.

Can you afford your dream home? Find out with this calculator from our partners:

Join the conversation about this story »

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          Meet the most powerful Goldman Sachs banker you've never heard of; Silicon Valley has made top data-science talent too expensive for many hedge funds      Comment   Translate Page      

 

Dear Readers,

It was "millennial money week" here at BI, where we got the results back from an INSIDER and Morning Consult survey that polled 4,400 young Americans on their spending habits. 

We published a number of stories based on the results. Here are some of the key findings. 

If you're new to the Wall Street Insider newsletter, you can sign up here.

Finances

1) Twenty-eight percent of millennials think they're worse off financially than they thought they'd be a decade ago.

2) A variety of economic factors have played a role in delaying some millennials' wealth-building process. The Great Recession, student-loan debt, and a higher cost of living have made it difficult for millennials to save.

College

1) Nearly half of millennials who have or have had student-loan debt think college wasn't worthwhile.

2) The divide between people who do think college was worth it and those who don't is clear: Millennials who are still paying off their student-loan debt feel worse about having gone to college than millennials who have already paid off their debt.

Retirement

1) Many Americans expect to buy a house or retire one day but aren't saving for it.

2) One-quarter of millennials who expect to retire between ages 66 and 75 have no retirement savings account.

3) Nearly half of Gen Xers have no retirement account, despite most expecting to retire between 56 and 75.

But, despite all of these money worries, our survey shows that millennials aren't curbing their spending. In fact, if given an extra $1,000 in a month, millennials and baby boomers would spend similarly. And while millennials are delaying major life events such as buying a house and having kids (due in large part to massive student loan debt), they aren't abandoning these things entirely. 

Bottom line: millennials have been accused of killing razors, mayo, golf, weddings, beer, and cereal. The rationale for this (at least according to the Fed) has been that it's because younger Americans don't have as much money to spend than previous generations. But the truth is a lot more complicated. 

Thanks for reading and have a great weekend! 
Olivia


Rich Friedman goldman sachs merchant banking

'It's good to be Rich': Meet the Goldman Sachs banker who has built a private investing empire that goes head-to-head with Blackstone — and you've probably never heard of him

The Champagne was flowing in February 2018 when the Goldman Sachs executive Rich Friedman welcomed a couple hundred guests to the Rainbow Room. The Manhattan landmark, opened in 1934, offers a menu with beef Wellington and baked Alaska and serves a $162 brunch. Overlooking Manhattan from the 65th floor of Rockefeller Center, guests danced and chatted as Stevie Wonder played piano.

On the surface, the event was a celebration of Friedman's 60th birthday. But it could have easily been a celebration of a Goldman Sachs career entering its golden years. Therecent retirement of CEO Lloyd Blankfein made Friedman the longest-tenured partner at Goldman.

Since 1991, Friedman has built the bank's private-investing activities into a sprawling collection of funds that have invested more than $180 billion in real estate and infrastructure, private equity, and credit markets that often competes with flashier investment firms like Blackstone, Carlyle, and KKR.

Though advocates put him in the pantheon of buyout greats, Friedman hasn't enjoyed the same name recognition as men with names like Schwarzman, Kravis, and Rubenstein. That's by design, according to interviews with about a dozen current and former colleagues, clients, and competitors.

READ MORE HERE >>

Tim Throsby sent an email to Barclays' CEO with the title 'irreconcilable.' He warned that a plan to gut compensation by 20% and boost profitability was unrealistic.

Tim Throsby, a former JPMorgan banker hired by Barclays to much fanfare to run its investment bank, drafted an email over the weekend of March 23 to 24. By the time he got around to sending it to CEO Jes Staley, he was already out.

The subject line of the email, according to someone who had seen it, was "irreconcilable."

The email was sent to Staley and a number of other senior leaders on March 28, a day after Throsby's shock departure from Barclays was announced, and rehashed the concerns he held over his boss' strategy. The email said Staley planned for cost reductions and job cuts — including a 20% cut to total compensation — for Barclays International, as well as a reduction in reserves held in case of credit losses, according to the person.

READ MORE HERE>>

Silicon Valley has made top data-science talent too expensive for many hedge funds, so they're getting creative to compete

On one side, there are billions of dollars from the world's biggest investors ready to be run by your algorithm. On the other, there's a chance to work at the most talked-about companies on the planet —right as they promise to turn their employees into millionaires overnight.

The battle for top tech talent between Wall Street and Silicon Valley is nothing new, but it's reaching a fever pitch in the hedge fund industry, industry participants and consultants said, as both sides eye billions of dollars up for grabs thanks to a host of buzzy tech unicorns expected to go public, like Uber, Slack, and Pinterest.

This Silicon Valley gold rush has forced hedge funds to grapple with a problem they hardly ever run into: The industry is being outbid for the top talent.

READ MORE HERE >>

YieldStreet, a fintech company offering exotic investments in things like art, but experts are warning about the risk

Wealthy individuals who want to reap the financial benefits of investing in a Monet without actually owning an $80 million painting will soon have a new option.

YieldStreet, a financial platform that offers exotic investment products like marine finance and loans to law firms to the mass affluent, is buying an company called Athena Art Finance from private equity firm Carlyle in a deal valued at $170 million. YieldStreet's 100,000 investors will be able to invest in art financing as a result of the deal.

The deal comes as more financial technology players are trying to open up access to investments previously reserved for institutional or ultra-wealthy investors, such as private equity. Earlier this week, Nasdaq and iCapital, a BlackRock-backed alternative investment company, said they're working to create a platform that will launch later this year to allow private fund investors to sell their stakes before the end of a fund's life.

READ MORE HERE >>

BlackRock-backed iCapital is teaming up with Nasdaq to create a private equity fund selling platform for wealthy investors

As wealthy individuals get into private equity and other illiquid investments in greater numbers than ever, they're increasingly looking for ways to get out, too.

Institutional investors, who long dominated strategies like venture capital, private equity real estate, and private credit, have worked with advisers to sell their fund stakes on the secondaries market. That option hasn't been available to individual investors, who may not be able to keep their capital locked up for the decade or longer that a private fund requires.

Nasdaq and iCapital, a BlackRock-backed alternative investment company, are now seeking to give investors that option by creating a platform that will launch later this year, executives told Business Insider.

READ MORE HERE >>

An inside look at Digital Asset, the blockchain company that's shifting strategies as Wall Street loses interest in the technology

A blockchain company that no longer deals solely with blockchains.

Digital Asset made a name for itself as a leader in how distributed-ledger technology would be implemented on Wall Street when it burst onto the scene in 2014. Big-name backers, large funding rounds, and a former high-profile bank executive caused it to turn heads.

Five years later the industry is still considering how best to implement distributed-ledger technology. While nearly every Wall Street firm has invested resources into investigating blockchains, real-world applications of the technology beyond pilot programs have been largely nonexistent.

READ MORE HERE >>

Wall Street move of the week:

Barclays just lost two more executives as Ravi Singh departs after only four months

In markets:

In tech news:

Other good stories from around the newsroom:

Join the conversation about this story »


          I rode the East River ferry to get a view of the infamous 58-story NYC skyscraper that's leaning 3 inches to one side — here's what it looks like      Comment   Translate Page      

leaning nyc tower skitch

  • An unfinished 58-story skyscraper in New York City is tilting 3 inches to the north.
  • The tower's contractor is suing the developer, saying it allowed for the tower to be built on a shoddy foundation.
  • The developer says there's no safety issue and that the "misalignment" can actually be fixed.
  • I went to see the leaning tower for myself, and I couldn't tell that it was tilted.
  • Visit BusinessInsider.com for more stories.

A New York City skyscraper that's leaning to one side has sparked a legal dispute between the building's contractor and the developer.

The 58-story tower, known as One Seaport or 161 Maiden Lane, is tilting three inches to the north, Business Insider's Aria Bendix previously reported.

Read more: Hudson Yards, NYC's $25 billion neighborhood, was financed with more than $1 billion that was meant for 'distressed' urban areas. Here's a look inside the glitzy development

The contractor of the building, Pizzarotti, sued the tower's developer on March 22 after a subcontractor discovered the building was askew. Pizzarotti alleges that the developer allowed for the tower to be built on a shoddy foundation. The developer, Fortis Property Group, says Pizzarotti filed the suit to distract from its inability to complete the project.

Fortis also says there's no safety issue and that the "misalignment" can actually be fixed.

I went to go look at the 670-foot tower — here's what it looked like. 

SEE ALSO: I visited a $22 million, 3-floor 'sky mansion' steps from NYC's Hudson Yards, and found it had a selling point that set it apart from luxury penthouses nearly 4 times the price

DON'T MISS: I climbed Vessel, the $200 million, 2,500-step sculpture in Hudson Yards — and the view from the inside blew me away

A 58-story skyscraper in Manhattan is reportedly leaning three inches to the north. The tower, which sits in lower Manhattan along the East River, is known as One Seaport or 161 Maiden Lane.

Source: Business Insider



The contractor is suing the developer, saying the developer allowed the tower to be built on a shoddy foundation. But the developer, Fortis Property Group, says Pizzarotti filed the lawsuit to draw attention away from its inability to finish the project.

Source: Business Insider



I went to go get a look at the 670-foot tower, which reached its full height in September 2018, to see if the tilt was visible to the naked eye.

Source: Bisnow



See the rest of the story at Business Insider

          Check out the hottest cars and concepts coming to the 2019 Shanghai motor show      Comment   Translate Page      

Geely Jia Ji

  • The 2019 Shanghai motor show opens on April 18.
  • Western, Japanese, and Chinese automakers are showcasing a range of concepts, electric cars, and luxury vehicles.
  • China is the world's largest auto market, with more than 20 million in annual sales.


The 2019 Shanghai motor show — officially called Auto Shanghai 2019 — opens to the public on April 18 and runs through April 25.

We typically expect to see some buzz around a few new luxury vehicles from western carmakers, plus an effort by Chinese brands to showcase their wares. In recent years, electric vehicles have also been a feature of the motor show, which alternates between Shanghai and Beijing and is a showcase for the world's biggest car market.

For 2019, California's Karma Automotive is planning a splashy rollout of three vehicles and concepts, while Audi is bringing two electrified concepts. Lexus and China's Geely, meanwhile, are thinking ... minivans. Don't scoff! These vehicles are popular in the Middle Kingdom

Take a closer look at some of the vehicles we've got our eyes on for next week. 

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Karma Automotive plans to pull the cover off a collaboration with Pininfarina, the legendary Italian design shop that was acquired by India's Mahindra in 2015.



Karma has two other reveals in store for Shanghai: the BMW-powered Revero and ...



... Its Vision concept car.



See the rest of the story at Business Insider

          Boeing's problems are mounting and things are going to get worse before they get better (BA)      Comment   Translate Page      

Boeing 737 Max train

  • Boeing has been through a tough month as it faces a bevy of lawsuits and investigations.
  • However, it may have even more serious and fundamental issues to confront such as fixing the design flaw in 737 Max, regaining the trust of passengers and crew, and maybe even coming up with a replacement for the 737 Max.
  • The global fleet of 371 Boeing 737 Max airliners have been grounded since the crash of Ethiopian Airlines Flight ET302. 
  • Visit Business Insider's homepage for more stories.

It's been a tough 30 days for Boeing. In the month since the tragic crash of Ethiopian Airlines Flight ET302, the American aviation giant has seen its hot-selling 737 Max airliner grounded, its stock plunged 10%, and its reputation tarnished by the scandal.

Boeing admitted last week that a faulty sensor triggered the 737 Max's Maneuvering Characteristics Augmentation System or MCAS on both the Lion Air Flight JT610 and the Ethiopian Airlines plane. The system's activation precipitated nose dives that likely led to both crashes. 

"The 737 Max grounding and what we are learning from it shows that this is not the typical airplane accident we've seen in the past and this is not the typical airplane grounding we've seen recently," Henry Harteveldt, travel industry analyst and founder of Atmosphere Research Group, told Business Insider. "This is a very serious problem for Boeing and a big problem for the airline operators and a problem I don't think will be easy to fix."

Read more: Boeing's reputation has been stained by the 737 Max, and it's going to have to fight to convince people the plane is safe.

This week, Boeing investors filed a proposed class-action lawsuit in Chicago alleging the company defrauded its shareholders by failing to reveal potential safety shortcomings of the 737 Max airliner after two fatal crashes in five months. 

Lawyers representing the 346 victims of Lion Air Flight JT610 and the Ethiopian crash have filed multiple suits against Boeing. 

Boeing 737 MAXAt the same time, the airlines whose 371 grounded 737 Max are sitting in storage collecting dust have initiated compensation proceedings to collect damages from Boeing. 

Boeing's troubles are mounting and things are going to get worse before it gets better. 

Design trouble

The US Department of Transportation has commenced an audit on how the Federal Aviation Administration managed to certify the 737 Max to fly with substantial control issues. 

Boeing and the FAA's cozy relationship has come under scrutiny from members of Congress. 

Certification issues aside, Boeing will have to answer for the design flaw that is at the heart of the controversy surrounding the 737 Max in the coming weeks and months.

To fit the Max's larger, more fuel-efficient engines, Boeing had to position the engine farther forward and up. This change disrupted the plane's center of gravity and caused the Max to have a tendency to tip its nose upward during flight, increasing the likelihood of a stall. In response, Boeing created MCAS as a software fix to automatically counteract that tendency and point the nose of the plane down when the plane's angle-of-attack (AOA) sensor triggers a warning.

"MCAS was a band-aid that infected the wound instead of healing it," Ross Aimer, an aviation consultant and former Boeing 787 training captain, said in an interview with Business Insider. 

Ethiopian Airlines Boeing 737 Max 8 ET AVJOne of the most confounding issues with MCAS is that it can be triggered by a single AOA sensor even though there are two on the plane. This is a departure from Boeing standard operating procedure which normally calls for a dual point of failure. 

"Since you have two (AOA sensors) in order to get certified, why not use them, I just don't understand it," aviation consultant and former aeronautical engineer Robert Mann told Business Insider in an interview. 

"From a design perspective, it doesn't make any sense."

Pilots and passengers don't trust the 737 Max

One of the 737 Max's greatest selling points was the idea that it could be easily integrated into existing 737 fleets with minimal additional training. Since the 737 has long been one of the most dependable airplanes in the world, this congruency helped make the 737 Max a hot seller.

However, the 737 Max is a very different plane from the 737NG it replaced. It has new engines mounted in a different location, redesigned wings, and new avionics. These are all things the pilots knew about. 

What they didn't know was that MCAS had been installed on the 737 Max. Pilots found out about MCAS being on the plane after the Lion Air 737 Max crash into the Java Sea on October 28. 

Boeing 737 Max 8 cockpit"Boeing in the past always told the pilots and airlines exactly what was on those airplanes," Aimer said. "I have been a Boeing pilot for over 50 years and have loved their products, but they have lost my trust."

Aimer, who is the CEO of Aviation Consulting Experts and a retired United Airlines Captain, feels like Boeing put money ahead of the well-being of passengers and crew.

"Boeing kept that from us purely because they didn't want to bother the airlines with some extra training," he told us. "This was purely a monetary decision on behalf of Boeing and the airlines themselves to keep this away from the pilots and the result was disastrous." 

And then there's the traveling public.

poll conducted by Business Insider a week after the Ethiopian crash showed that 53% of American adults would not want to fly on a Boeing 737 Max even after the FAA clears the aircraft for service.

"The 737 Max has stained Boeing's brand reputation," Harteveldt said. "This can't be denied."

Business Insider reached out to Boeing for comment on the matter. A Boeing spokesperson noted that company CEO Dennis Muilenberg made a speech on Thursday touting the need to regain public trust.

"We know every person who steps aboard one of our airplanes places their trust in us," Muilenburg said in the speech. "We’ll do everything possible to earn and re-earn that trust and confidence from our airline customers and the flying public in the weeks and months ahead."

"We take the responsibility to build and deliver airplanes that are safe to fly and can be safely flown by every single one of the professional and dedicated pilots all around the world," the Boeing CEO added.

Boeing might need a replacement for the 737 Max

The Boeing 737 Max is the fastest-selling plane in Boeing history. It's the latest generation of Boeing's money-making 737 family of airliners.

The various versions of the Boeing 737 currently account for 80% of Boeing's 5,800-plane order backlog.

It's going to be an uphill battle for Boeing to restore confidence in the grounded jet. 

"You can't hide the 737, you've got thousands of them of all types flying worldwide today for airlines," Harteveldt said.

As a result, you can't simply rebrand the plane. 

Southwest Airlines Boeing 737 Max 8 storage"People are going to see right through that," he added.

Therefore, Boeing is going to either have to convince people to fly the 737 Max or come up with a replacement.

"Yes, (737 Max) is the last iteration," Teal Group aviation analyst Richard Aboulafia told Business Insider in March. "They ran out of steam in terms of range and capacity."

That means whichever aircraft Boeing chooses to replace the 737 will be a clean sheet design. 

It's not all gloom and doom for Boeing

The situation Boeing finds itself in is not insurmountable.

Aimer said Boeing's engineering team should be able to come up with an effective fix for the 737 Max. 

"They can fix this issue, right now they need to be honest and forthright and try to fix this issue to the best of their ability," Aimer said. 

Boeing 737 MAX 8 airlinerHarteveldt said Boeing can convince passengers to feel safe in the 737 Max.

"Boeing has to become a bit more of a consumer-facing organization to reinstill confidence in its brand so that the saying 'if it's not Boeing I'm not going' can be said again with pride by travelers," the analyst said. 

On the other hand, Mann believes Boeing won't have to do much to get people to return to the 737 Max. 

"Once the airplane routinely does what it's designed to do and safely, all of this goes away. And it's crass to say it, but the fact is the traveling public has a very short memory," Mann said.

SEE ALSO: JetBlue is going to London in 2021

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NOW WATCH: We took the Tesla Model 3 for a test drive. Here are the best and worst features.


          Here are the officials who vote on the Federal Reserve committee that sets interest rates      Comment   Translate Page      

fed powell board governors

  • Interest rates are set through a voting system on the Federal Open Market Committee. 
  • That group consists of Fed governors and leaders of central bank branches across the country. 
  • Officials tend to be labeled as dovish or hawkish, depending on how much they focus on inflation or employment. 

President Donald Trump often blames his monetary policy frustrations on Federal Reserve Chairman Jerome Powell. But interest rates are determined by a group of central bankers, not by Powell alone.

Members of the Federal Open Market Committee typically meet eight times a year to vote on the federal funds rate. Seven individuals on the Board of Governors always vote — there are currently two of these seats open that Trump is planning nominations for.

Fed presidents from across the country take turns on the FOMC each year, though the New York bank’s leader always votes.

Here's who will be on the committee through 2021 and how they tend to view monetary policy, according to analysis by Bank of America Merrill Lynch. Inflation doves are seen as more concerned about employment than rising prices, while hawkish officials tend to favor higher interest rates.

FOMC monetary policy graphic

Governors

Presidents

SEE ALSO: Trump has been turning up the heat on the Fed and now the IMF is warning political pressure on central banks is 'dangerous'

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NOW WATCH: The founder and CIO of $12 billion Ariel Investments breaks down how his top-ranked flagship fund has crushed its peers over the past 10 years


          Tesla isn't the next Theranos — here are 10 reasons why (TSLA)      Comment   Translate Page      

Elizabeth Holmes

  • Tesla and Theranos are sometimes discussed in the same terms, as Tesla CEO Elon Musk has jousted with the SEC and former Theranos CEO Elizabeth Holmes faces criminal charges for accusations of fraud.
  • The Tesla-Theranos comparison, like the Tesla-Enron comparison, makes for fiery debates, but the comparison falls apart on closer scrutiny.
  • At base, Tesla has a product that's relatively easy to understand — cars — while Theranos product was shrouded in secrecy.
  • Visit Business Insider's homepage for more stories.


If you have the misfortune to follow or even periodically stumble across the discussion of Tesla impending bankruptcy on Twitter (#TSLAQ) or elsewhere on the internet, you're aware that the company is now often being compared to Theranos, the onetime $9-billion blood-testing startup that's now worth nothing and whose former CEO, Elizabeth Holmes, is currently facing criminal charges.

Tesla CEO Elon Musk has poured fuel on the #TSLAQ fire by running afoul of the Securities and Exchange Commission, just as Holmes did (she settled and was barred from serving as an officer of a public company for a decade). Tesla also added Oracle's Larry Ellison to its board — and Ellison was a Theranos investor.

As l'affaire Theranos has broken out of the business press. John Carreyou's Bad Blood, his account of Holmes' and Theranos' rise and fall, is a bestseller, with a film starring Jennifer Lawrence as Holmes in development. An HBO documentary premiered last month. A general climate of skepticism about Silicon Valley's "save the world" ambitions has also emerged in the aftermath of Facebook's scandals. 

Read more: The biggest question for Tesla is whether the company can make steady profits on its cars

This has all undermined the reality of Tesla and replaced it with a sort of wildly speculative canvas onto which assorted conspiracies and malfeasances can be painted. At base, Tesla is a relatively small auto company that, remarkably, has come to dominate the mostly abandoned electric-car business (there are more than a billion cars on the road worldwide, and almost none of them run on electricity).

Outlandish enthusiasm on Wall Street for the future of electric cars — coupled with too much money sloshing around in the economy thanks to post-financial crisis government action — has minted a stupid-high stock price for Tesla and intensified the focus on the company. Tesla itself has struggled mightily with its manufacturing fundamentals, becoming an outlier in an industry that easily built over 17 million cars and light trucks in the US alone last year, while Tesla managed 250,000.

Looks bad, right? But is it Theranos bad? Hardly. Here's why:

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1. Nobody understood Theranos' product.

Theranos' small-sample blood tests were supposed to be executed using a device named "Edison" that accelerated diagnostics, lowered costs, and democratized lab work. But the device never worked, something that the company concealed. Holmes' claims about the technology evidently confused experts for years.

Superficially, Tesla's and Musk's commitment to automated manufacturing could be construed as sort of "Edisonian" — except that everybody in the auto industry understands automation and its limits. They also understand the end product, which is an automobile. It's pretty easy to tell if either the production system is flawed or the product is bad: the cars don't roll off the assembly lines; or the cars don't work.



2. Theranos never went public.

Tesla staged an IPO in 2010 and for nine of its 15 years in business has been compelled by law to expose its financials four times a year.

Theranos was founded in 2003 and had no legal obligation to report its financials until it collapsed in 2018.

An IPO isn't a perfect mechanism to open up a company to scrutiny. But investors have been able to analyze Tesla's balance sheet and financials for almost a decade.



3. Theranos was the only thing Holmes had ever done.

Holmes dropped out of Stanford to start Theranos when she was 19. She had no background in business nor startups.

Musk sold his first company in 1999 and parlayed that success into another company that would eventually become PayPal. He then sank all his money into Tesla and SpaceX. 

Consequently, Musk knew that a real product was going to be critical to Tesla's survival.



See the rest of the story at Business Insider

          2 of America's most acclaimed wealth managers for the ultrarich explain why a famous approach to retirement investing is dead wrong — and reveal what people should do instead      Comment   Translate Page      

early retirement

  • Two of the most successful wealth managers in the US say the most basic approach to retirement investing — that younger people need stocks and older people should own bonds — is wrong.
  • Jeff Erdmann of Merrill Lynch and Peter Mallouk of Creative Planning have different criticisms of the philosophy, but both say investors need a different approach.
  • Forbes has ranked Erdmann as the best wealth manager in the US for three years in a row, while Barron's named Mallouk the no. 1 independent wealth manager four times in the last six years.
  • Visit BusinessInsider.com for more stories.

It's one of those things everyone who has thought about retirement knows: Younger people are supposed invest in stocks, and older people should mostly own bonds.

But two of the most respected wealth managers in the country say that's a bad approach.

The objections come from Jeff Erdmann, who has topped Forbes' list of the best wealth managers in America for the last three years, and Peter Mallouk, who Barron's named the no. 1 independent wealth advisor four times since 2013.

Both are very positive on stocks as long-term investments. That partially reflects their focus on wealthy families and maintaining wealth that can last for generations. But their concerns about the traditional strategy also have major implications for everyday investors and anyone with a 401(k).

The standard thinking about retirement investing is that younger people should own on high-growth assets like stocks, and as the years pass they should gradually get more conservative to get a steady stream of income and protect against big losses. The non-traditional response?

"You should throw that philosophy out the window," Erdmann said in a phone interview with Business Insider.

Erdmann, who works in Merrill Lynch's private banking and investment group, says that investors get such weak returns from bond, CDs and similar assets that they can't rely on them the way they did when that conventional wisdom was established.

Read more: America's No. 1-ranked wealth manager for the ultrarich breaks down the 3 mistakes every millennial investor should avoid — and what they should do instead

For example, the yield on the 10-year Treasury note was more than 10% in 1985, but hasn't touched 5% since early 2001. Last year markets were startled when the 10-year yield briefly "spiked" above 3%. Other conservative investments also don't provide the kind of returns they did in decades past.

"Whether you’re 88 or 18, (with) where we are in the interest rate cycle, your asset allocation is going to not necessarily be tremendously different," Erdmann said.

That's been a big contributor to the 10-year bull market in stocks: More conservative options just haven't appealed to a lot of people for many years. And it's not clear if it will change any time soon.

While Erdmann's objection to the traditional retirement strategy is based on the modern easy-money, low-interest-rate environment, Peter Mallouk of Kansas City-based Creative Planning says he doesn't think the strategy has ever been a good idea.

"The way the industry selects portfolio management ... doesn’t make sense," he said. "It just never has made sense."

Mallouk runs a $39 billion company that was named by Barron's as the best independent wealth management firm in 2017. He told Business Insider that age is nearly irrelevant to retirement investing.

Read more: America’s biggest wealth manager oversees $39 billion for the ultrarich. Here are the 5 ways he says you can invest like 'the millionaire next door.'

In his view, the only thing that's really important is the needs of the investor. A well-off young person with minimal needs can make conservative investments, and an older person who is behind on retirement saving needs to be more aggressive.

Mallouk says the traditional investing philosophy can leave retirees without enough money to meet their needs late in life. 

The two views have different implications: If you agree with Erdmann, you might conclude that investing more heavily in bonds as you age makes sense assuming yields rise substantially in the future. But if you hold with Mallouk, you would focus more on stocks even into retirement.

SEE ALSO: MORGAN STANLEY: This earnings season is the 'moment of truth' for stocks. Here's why the signs are pointing to a major disappointment for investors.

Join the conversation about this story »

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          Here are the 8 clothing companies that could take Patagonia's place as the new keeper of the 'Midtown Uniform'      Comment   Translate Page      

Hedge Fund Guys

  • Following Patagonia's recent decision to be more selective with the number of new clients it will brand apparel for, a market gap has opened for other clothing companies to work with Wall Street and Silicon Valley firms.
  • Patagonia's fleece vests are a key part of finance bros' typical outfit, known as the 'Midtown Uniform' — slacks, a dress shirt, and a vest. 

From the disruptive nature of new technology, to the rising number of agile competitors in the space, Wall Street's list of concerns grows bigger every day.

However, arguably a bigger issue was raised across trading floors earlier this month: The future of the 'Midtown Uniform'.

Patagonia, a critical part of many Wall Street employees' daily outfits, recently decided it would be more selective with the number of new clients it will brand apparel for. The company is focusing on working with "more mission-driven companies that prioritize the planet", potentially excluding some Wall Street and Silicon Valley firms. The American clothing company's fleece vests are an integral part of what is commonly referred to as the 'Midtown Uniform': slacks, a dress shirt, and a vest.

So an opportunity has risen for another clothing company to be the go-to outfitter for the 20-something bankers, hedge funders and technologists. 

Here are eight companies that have the potential to fill the void left by Patagonia based on conversations with those in the industry and the reporter's own personal experience.

Vineyard Vines

For many, this is a natural fit to replace Patagonia. Founded in tony Martha's Vineyard, Vineyard Vines is the male equivalent of Lily Pullitzer. The brand is also already the clothing of choice for many hedge funders during their weekend trips to the Hamptons. 

 



Helly Hansen

The Norwegian clothing company might be the perfect foreign substitute for Patagonia. With its wide range of cold-weather apparel, there's a good chance finance bros might already have some Helly Hansen tucked away in their ski houses. 

 



Arc'teryx

The Vancouver-based company has made big strides on the West Coast, which is home to most of the big tech companies that have their own twist on the 'Midtown Uniform' (jeans and a t-shirt instead of slacks and a button down).  However, one problem this pick might have is the fact finance bros seem unlikely to buy from a clothing company they'll struggle to pronounce.



See the rest of the story at Business Insider

          How Montenegro became a favorite spot for billionaires      Comment   Translate Page      
A tiny Balkan country is emerging as the preferred destination for the world’s richest people. Montenegro is one of the most popular travel destinations among billionaires this year and also home to a growing population of the ultra wealthy, according to a recent report by Business Insider. The country has a total population of 620,000 and is approximately the size of Connecticut, but it also has a 182-mile coastline on the Adriatic Sea, which makes ... [more]
          Progressives like Alexandria Ocasio-Cortez may be the 'rock stars' of the Democratic House majority — but another group of freshman Democrats is reshaping Congress - Business Insider      Comment   Translate Page      
  1. Progressives like Alexandria Ocasio-Cortez may be the 'rock stars' of the Democratic House majority — but another group of freshman Democrats is reshaping Congress  Business Insider
  2. Ocasio-Cortez says Ilhan Omar's 'Life is in danger' after Trump tweets 9/11 video  AOL
  3. Corey Lewandowski involved in GOP 2020 campaign to dethrone Ocasio-Cortez  Fox News
  4. Dan Crenshaw Tells Fox News That Alexandria Ocasio-Cortez's Tweet To Him Is "Almost Not Worth Responding To”  Newsweek
  5. Study: Fox News is obsessed with Alexandria Ocasio-Cortez  Philly.com
  6. View full coverage on Google News

          Pixomondo: How Dragons In ‚Game of Thrones‘ Are Brought To Life      Comment   Translate Page      
https://www.pixomondo.com/ With the new season of Game of Thrones airing tomorrow, take a look at video piece that Business Insider’s Tech Insider division put together a couple years back about PIXOMONDO’s dragon work: It takes a team of 22-3o animators to create Daenerys Targaryen’s dragons on HBO’s Game of Thrones. HBO’s visual effects team works […]
          Facebook-Aktionäre wollen Mark Zuckerberg stürzen – Medien       Comment   Translate Page      
Mehrere Aktionäre des weltgrößten Online-Netzwerks Facebook haben ein weiteres Mal vorgeschlagen, auf der jährlichen Hauptversammlung den Rücktritt von Gründer und Aufsichtsratschef Mark Zuckerberg sowie die Änderung der Struktur des Unternehmens zu thematisieren. Darüber berichtet das US-amerikanische Nachrichtenportal Business Insider.
          Stratolaunch, cel mai mare avion din lume, a trecut de primul zbor/ Este proiectat să transporte trei rachete sub aripile enorme şi să lanseze sateliţi | VIDEO      Comment   Translate Page      
Stratolaunch, cel mai mare avion din lume, o aeronavă uriaşă cu şase motoare, cu cea mai mare anvergură a aripilor din lume, a efectuat primul zbor la finele acestei săptămâni, informează Business Insider.
          YouTube é criticado por dar destaque a vídeo sexista que critica Katie Bouman      Comment   Translate Page      

Nesta semana, fomos agraciados com a primeira foto real de um buraco negro da história, bem como conhecemos melhor o trabalho de Katie Bouman, que acabou ganhando notoriedade da mídia pelo seu trabalho com o Event Horizon Telescope (EHT), pelo qual a imagem do buraco negro que fica no centro da galáxia M87 foi obtida. Entretanto, parece que nem tudo são flores nessa história, e até mesmo o YouTube está envolvido em uma polêmica envolvendo o feito de Bouman — a plataforma está sendo bastante criticada por impulsionar um vídeo sexista que descredita a engenheira.

No momento em que a Katie começou a receber os holofotes dos jornais, um grupo criou sua própria versão da história, acusando-a de estar, supostamente, lucrando com o trabalho duro de outro colega da equipe do EHT. Essa falsa narrativa chamou a atenção de tal forma que, de acordo com o Business Insider, o vídeo do canal Mr. Obvious — que continha essas acusações — se tornou o resultado principal do YouTube quando as pessoas pesquisavam pelo nome Katie Bouman.

O vídeo, intitulado de "A mulher faz 6% do trabalho, mas obtém 100% do crédito" (na tradução literal), afirma que um homem chamado Andrew Chael havia escrito mais de 850 mil linhas do código do algoritmo que permitiu realizar a captura da foto, enquanto a Bouman teria colaborado com apenas poucas linhas.

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Esse vídeo acabou ganhando uma repercussão tão grande que o próprio Andrew Chael comentou sobre o caso no Twitter, por onde protegeu a sua colega e negou o conteúdo do Mr. Obvious, afirmando que Bouman contribuiu de forma grandiosa ao trabalho e que o resultado final não poderia ter sido alcançado sem os esforços dela. Mesmo após a manifestação de Andrew, no entanto, o canal do YouTube não mudou a sua posição e disse que, pelas suas contas, Katie teria escrito apenas 14% do código e que “isso não muda o fato de que 80% dos cientistas envolvidos serem do sexo masculino”, os quais teriam realizado a grande maioria do trabalho.

Isso levou vários usuários do Twitter a criticarem o YouTube, que estaria permitindo que o vídeo em questão pudesse ser mantido no topo dos resultados de pesquisa dentro de sua plataforma. Eventualmente, o tal item acabou saindo da lista de resultados e, pelo visto, ele acabou perdendo o destaque após o YouTube ter adicionado Bouman à sua lista de tópicos de pesquisa relacionados a notícias.

Leia a matéria no Canaltech.

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          Diese 5 Fragen sollte ihr euch stellen, wenn ihr in einem neuen Job erfolgreich sein wollt      Comment   Translate Page      

Job

Die Einführungsphase im neuen Job kann über eure Zukunft entscheiden. Gerade am Anfang ist es wichtig, Beziehungen zu Mitarbeitern aufzubauen und sich selbst weiterzuentwickeln, meint Michael D. Watkins, Professor an der IMD Business School in der Schweiz und Autor von „The First 90 Days“.

Im „Harvard Business Review“ stellt der Professor fünf Fragen vor, über die ihr im neuen Job täglich nachdenken solltet:

1. Wie schaffe ich Mehrwert?

Im neuen Job ist es zentral, die Erwartungen eurer Vorgesetzten zu verstehen und zu erfüllen, so Watkins. Möglicherweise widersprechen sich die Erwartungen einzelner Vorgesetzter sogar. „Es ist essenziell, die verschiedenen Erwartungen zu verstehen, um sie miteinander in Einklang zu bringen und sie so gut wie möglich zu befriedigen“, schreibt Watkins.

„Wenn ihr in eine Führungsposition aufsteigen wollt, oder sogar noch höher, müsst ihr euch immer zuerst fragen, wie ihr andere dazu bringen könnt, euch zu schätzen“, erklärt Robin Dreeke, FBI-Agent und Co-Autor von „The Code of Trust“, gegenüber Business Insider. „Ihr müsst verstehen, was ihnen wichtig ist. Woran machen sie Erfolg fest? Was könnt ihr tun, um ihre Jobs einfacher zu machen?“

Deshalb: Sprecht mit euren Vorgesetzten und stimmt eure Ziele mit ihren Zielen ab: „Das ist eine super Möglichkeit, sich früh Feedback einzuholen. Was macht ihr gut, was müsst ihr verbessern und wie könnt ihr eure Zeit nächste Woche noch effektiver einsetzen?“, schreibt Natlia Atenrieth auf „TopResume“.

2. Welches Verhalten wird von mir erwartet?

Watkins empfiehlt, dass ihr die Unternehmenskultur sehr genau kennen lernen solltet und euch an die Normen des Unternehmens haltet. „Versteht die Kultur als das Immunsystem des Unternehmens“, so Watkins. Sie verhindere falsches Denken und falsches Verhalten, welche das Unternehmen ineffizienter machen.

„Die ersten 30 Tage sind dafür da, das Unternehmen zu verstehen und einen Überblick über das Umfeld zu bekommen, erklärt Job-Coach Liane von Geyr gegenüber Business Insider. Sogar Vorstände würden sich 100 Tage Zeit lassen, um die Unternehmenskultur kennenzulernen, bevor sie mit Reformen beginnen.

Dabei gilt es jedoch zu beachten, dass auf verschiedenen Ebenen des Unternehmens möglicherweise verschiedene Kulturen herrschen. „Euer Erfolg nach einer Beförderung kann dann davon abhängen, wie wandlungsfähig ihr seid“.

3. Wessen Unterstützung ist unverzichtbar?

Die Unternehmenskultur zu verstehen, bedeutetet auch die Machtverhältnisse zu kennen. „Wer hat Macht und Einfluss? Welche Unterstüzung ist zentral und warum?“, so Watkins. Ihr müsst die Politik im Unternehmen verstehen und lernen, euch darin zu bewegen, erklärt der Experte.

„Was ich immer wieder versuche, jungen Menschen beizubringen, ist, dass die Arbeitskollegen die einflussreichste Gruppe in ihrem Leben sein werden, erzählte Joanna Coles, frühere Chefredakteurin von „Cosmo“ und „Marie Claire“, im Gespräch mit Business Insider. „Und ich habe immer wieder Jobmöglichkeiten durch lockere Freundschaften oder Bekanntschaften erhalten.“

„Wartet nicht darauf, integriert zu werden“, empfiehlt von Geyr. „Geht aktiv auf Chefs und Kollegen zu.“

4. Wie erkämpfe ich mir frühe Siege?

Um euch schnell zu beweisen und Glaubwürdigkeit zu gewinnen, sei es zentral, direkt zu Beginn schnelle und positive Veränderungen herbeizuführen, so Watkins. Beispielsweise könntet ihr kleine Schwächen des Unternehmens in eurem Bereich ausfindig machen und ausmerzen.

Mit diesen kleinen Siegen verdient ihr euch „das Recht, tiefgreifendere Veränderungen im Unternehmen anzustoßen“, erklärt Watkins.

Lest auch: Studie: In diesen Jobs bekommt ihr nach einem Bachelorabschluss das höchste Gehalt

5. Welche Fähigkeiten muss ich entwickeln, um herauszustechen?

Watkins warnt vor einem oft begangenen Fehler: Tappt nicht in die Falle der Komfortzone. Euer neuer Job wird euch neue Fähigkeiten abverlangen. Dazu müsst ihr euch persönlich weiterentwickeln. „Das bedeutet nicht, dass ihr keinen guten Start hinlegen könnt, aber je früher ihr versteht, welche Fähigkeiten ihr entwickeln müsst, um herauszustechen, desto besser. Die Lernfähigkeit entscheide maßgeblich über das Karrierepotenzial.

DAS KÖNNTE EUCH AUCH INTERESSIEREN:

 Apple, Google und Netflix verzichten auf eine Anforderung bei Bewerbern — es könnte bald branchenweiter Standard werden

 Das ist der häufigste Grund, warum immer mehr Mitarbeiter in Deutschland kündigen

 Karriereexpertin erklärt, wie ihr mit einem Chef arbeitet, der unrealistische Erwartungen an euch hat

Join the conversation about this story »


          The 20 best Apple Watch tips and tricks to make your life easier - Business Insider      Comment   Translate Page      
The 20 best Apple Watch tips and tricks to make your life easier  Business Insider

The Apple Watch is an incredible device, if you know how to use it.


          The companies disrupting the payments industry in major markets through digital      Comment   Translate Page      
This is a preview of the Global Payments Landscape report from Business Insider Intelligence. Current subscribers can read the report here . Noncash payments are on the rise...
          Google's chief diversity officer is leaving the company following a string of controversies - Business Insider https://t.co/Xo0lWpTwsK      Comment   Translate Page      
Google's chief diversity officer is leaving the company following a string of controversies
          I finally read 'Sapiens,' the book that Bill Gates and Mark Zuckerberg both recommend to everyone — and I get why Silicon Valley loves it so much      Comment   Translate Page      

sapiens: a brief history of humankind

  • Go to any Silicon Valley party, and chance are pretty good you'll hear someone talking about "Sapiens," a book about the past and future of humanity by Yuval Noah Harari. 
  • Harari's "Sapiens" was first released in English in 2014, and not long after found itself on recommended reading lists of industry giants like Bill Gates and Mark Zuckerberg. It was even recently poked fun at as a total cliche among Silicon Valley venture capitalists. 
  • After finally managing to make my way through it, the tech industry's fascination with the book made a whole lot more sense. 
  • Below are my biggest takeaways from "Sapiens: A Brief History of Humankind." 

It's basically a Silicon Valley cliche at this point: Talk to anyone who works in tech, and chances are pretty good they'll recommend you a copy of "Sapiens: A Brief History of Humankind," by Israeli author Yuval Noah Harari.

"Sapiens" was first released in English in 2014 — and has since then found itself on the recommended reading lists of tech titans like Bill Gates and Mark Zuckerberg. In fact, in 2016, Bill Gates wrote that he went so far as to ask his wife, Melinda Gates, to pack a copy of the book on vacation.

"It’s so provocative and raises so many questions about human history that I knew it would spark great conversations around the dinner table," Gates wrote. "It didn’t disappoint."

Read more: Why Mark Zuckerberg wants everyone to read an Israeli historian's book about the human race

In the years since, it's only become more ubiquitous, to the point where it's become a punchline. VC Starter Kit, a satirical website, sells a $500 package that includes a Patagonia vest, Allbirds sneakers — and copies of Peter Thiel's "Zero to One" and, of course, "Sapiens." 

Over the years, I've heard about "Sapiens" so much that I often find myself in disbelief. 

Really?

Every single person in Silicon Valley loves the same 400+ page anthropological deep-dive into the history of humankind? It was hard to wrap my head around. 

I know, I know. I'm years late to the party. But still, I was curious. 

And after finally slogging through it, the tech industry's fascination with the book made a whole lot more sense. 

Here's are my biggest takeaways from "Sapiens: A Brief History of Humankind." 

 

The book posits that humans are powerful because we can tell stories.

If there's one major takeaway from the book, it's that humans became the dominant species we are today because of our ability to create myths and tell stories. 

We were once limited by a supposed law of nature that makes it nearly impossible to organize a group of more than 150 people, a limit known to anthropologists as Dunbar's number. Above that number, the theory goes, humans have a hard time forming close relationships and trusting others. 

But if we create myths and tell stories, we can form connections with people outside of our core group because we have a shared interest or knowledge in something, and trust can be formed. 

No other animals can band together by the millions because no other animals can tell stories. 

This is how nation-states were built and world religions were formed, according to Harari. It is also why people believe in economies and a paper money system. 

We tell stories, give value to things, and fight (often literally) to keep those traditions alive. 

That same storytelling superpower that allowed for the creation of religions and economic systems, also helped businesses, as we know them today, to form into massive and lasting operations. 

Harari used the example of the French auto-giant Peugeot to illustrate his point. 

If suddenly every Peugeot employee died and every car vanished from the streets, the company would still exist, Harari posits. That's because the company is not simply its people or its product — the idea of Peugeot as a business has been collectively agreed upon by society. 



We may have been better off before the Industrial Revolution, Harari writes.

In the book, Harari makes contrarian claims throughout.

How can we think of early humans as "tree-huggers" if they were killing big game animals and causing mass extinctions like the Dodo? And religion may be just another method humans used for organizing society, similar to politics or economics, he writes. 

But maybe the most contrarian point raised in "Sapiens" was that the Agricultural Revolution may have been a bad idea. 

Farming increased the amount of available food, increased the human population, and allowed people to specialize in a wide variety of trades. But, he argues, it's questionable whether or not it was actually worth it. 

Having surplus food may have allowed us to create politics, art, and philosophy — but it also led to war and a widening class system. Also, peasants working before our modern era faced longer hours and more exposure to disease than our early hunter-gatherer descendants. 

Harari makes the case that the human species may have been better off as foragers before farming changed everything.



Human happiness may just be a matter of expectations, the book suggests.

Harari's 200,000-year history of humankind comes down to the main question of whether our progression as a species has made us any happier in the end. 

Back to the hunter-gather example — foragers worked fewer hours and lived in less isolation, spending more time with close friends and family. 

So, were early humans actually happier than we are today?

Harari thinks that just because human capabilities have increased, we shouldn't necessarily be happier as a species. 

Instead, he writes that “happiness does not really depend on objective conditions of wealth, health or even community. Rather, it depends on the correlation between objective conditions and subjective expectations.”

The concept is perhaps best illustrated by Harari's allegory of two twins — one who experienced permanent damage to his leg in a car crash, while on the same day, his twin brother won the lottery. Two years later, he writes, both brothers will have the same levels of happiness they each had on that fateful day, for better or for worse.

That's because with those dramatic events, their expectations for life were reset, and happiness, according to Harari, is a function of those expectations. 



See the rest of the story at Business Insider
          Meet Erica Herman, Tiger Woods' mysterious girlfriend who often joins him at big tournaments      Comment   Translate Page      

Tiger Woods Erica Herman

  • Erica Herman has become a regular at Tiger Woods' biggest tournaments.
  • Herman is the general manager at The Woods, Tiger's high-class sports bar in Jupiter, Florida.
  • Visit BusinessInsider.com for more stories.

Tiger Woods did what some thought was impossible: He capped an epic season-long comeback in 2018 with his first PGA Tour win since 2013. 

Erica Herman—who formerly managed a restaurant Woods owns in Florida—was aon-site at East Lake Golf Club to celebrate with her boyfriend following his big victory. The next day, Herman joined Woods on his flight to Paris for the Ryder Cup at Le Golf National.

Below, take a look at what we know so far about Erica Herman and her relationship with Woods:

Matthew Michaels contributed reporting on a previous version of this article.

SEE ALSO: Tiger Woods is back — here's how he spends his millions and lives his life off the course

DON'T MISS: 13 facts about cheating that couples — and singles — should know

Multiple sources have cited Herman as being 33 years old, which makes her a full decade younger than her beau.

Source: The Daily Mail



The Metro reports that Herman is a registered Republican who grew up in Orlando.

Source: The Metro



Herman is the general manager at The Woods, Tiger's high-class sports bar in Jupiter, Florida.

Source: The Woods



See the rest of the story at Business Insider
          An IPO frenzy, 'irreconcilable' differences at Barclays, and Apple's $300 billion opportunity      Comment   Translate Page      

Dara Khosrowshahi

Hello!

The IPO market is picking up steam. Pinterest started its IPO roadshow on Monday, targeting a lower valuation than it achieved in its last private funding round. On Thursday, PagerDuty soared on its debut. And later that day, Uber filed for its own long-awaited listing. 

By some estimates, more than 100 tech unicorns could hit the public markets this year. We'll be keeping a close eye on the winners and losers over the coming months.

You can read all of our extensive coverage on the Uber IPO here, but here are some of the highlights. 

Elsewhere, Becky Peterson talked to one of PagerDuty's earliest investors about why he went big on the IT-management company,  and Rosalie Chan caught up with the CEO and CFO to talk about what's next.

And if in case you missed it, here's six tips from top wealth advisers about how this new wave of Silicon Valley millionaires should prepare for a sudden influx of cash

In related IPO news, electronic trading platform Tradeweb just went public at a $7.5 billion valuation. I caught up with Billy Hult, the company's president, to talk about the IPO process, electronic markets going mainstream, and what it means to be a public company.

What would you like this email to include? What have we missed? You can reach me at mturner@businessinsider.com.

—Matt

Quote of the week

"I'll say I am looking for a short-term futures guy with Python [coding abilities] and two years' experience, and once you narrow that down, there's really only like five or 10 guys out there that fit the bill." — Michael Graves, a hedge fund manager starting his own fund, on the battle for quant talent with Silicon Valley

In conversation

Finance and Investing

Tim Throsby sent an email to Barclays' CEO with the title 'irreconcilable.' He warned that a plan to gut compensation by 20% and boost profitability was unrealistic

Tim Throsby, a former JPMorgan banker hired by Barclays to much fanfare to run its investment bank, drafted an email over the weekend of March 23 to 24. By the time he got around to sending it to CEO Jes Staley, he was already out.

'It's good to be Rich': Meet the Goldman Sachs banker who has built a private investing empire that goes head-to-head with Blackstone

The Champagne was flowing in February 2018 when the Goldman Sachs executive Rich Friedman welcomed a couple hundred guests to the Rainbow Room.

A stock picker who's dominating 92% of his peers breaks down his market-beating strategy — and reveals 5 stocks he loves, even as earnings growth dries up

Jim Tierney can use a painful market crash every now and then.

Tech, Media, Telecoms

McDonald's, Nvidia and Salesforce all want a bite of the Tel Aviv tech crop. Here's what you need to know about Israel's bustling M&A scene

In late March, McDonald's announced its $300 million-plus acquisition of Dynamic Yield, an Israeli startup that uses algorithms to personalize shopping experiences to the individual.

2 senior execs at Thoma Bravo's Apttus, including the controversial head of revenue, have left without immediate replacements

The head of revenue at Apttus, an enterprise tech company that has been rocked by a series of controversies and executive turnover, has left the company without an immediate replacement, according to a memo obtained by Business Insider.

The upcoming 'battle for the home' pits Comcast against Amazon and Google — and the cable giant has one big advantage

The next "battle for the home" will revolve around home internet-of-things management, and the voice-control stalwarts Google and Amazon could face stiff competition from Comcast and Charter.

Healthcare, Retail, Transportation

Forget Amazon and Google. Apple could bring in $300 billion a year in healthcare, Morgan Stanley says

Apple has been edging its way into healthcare for years. Morgan Stanley says investors aren't taking the move seriously enough.

Creating a new drug takes a decade and costs a fortune. Investors have poured almost $1 billion into startups trying to change that

Making drugs is a notoriously slow and costly proposition.

Ikea exec reveals how opening a new kind of location will help it win in e-commerce

How does Ikea plan to adapt to the increasingly omnichannel world of retail? Well, the furniture-store chain's new planning studio in Manhattan may offer up some important clues.

Join the conversation about this story »

NOW WATCH: All the hidden meanings behind J. Cole's 'Middle Child' video explained


          The top 7 shows on Netflix and other streaming services this week      Comment   Translate Page      

chilling adventures of sabrina

  • Every week, Parrot Analytics provides Business Insider the most in-demand original TV shows on streaming services.
  • This week sees "On My Block" beating out the competition and the return "Chilling Adventures of Sabrina" to the list. 
  • Visit BusinessInsider.com for more stories.

"On My Block" is catching on as a favorite among Netflix subscribers, even edging out mega-hits like "Stranger Things" and "The Umbrella Academy" this week. And Sabrina the Teenage Witch has returned with "Chilling Adventures of Sabrina Part 2."

Every week, Parrot Analytics provides Business Insider with a list of the seven most "in-demand" TV shows on streaming services. The data is based on "demand expressions," the globally standardized TV demand measurement unit from Parrot Analytics. Audience demand reflects the desire, engagement, and viewership weighted by importance, so a stream or download is a higher expression of demand than a "like" or comment on social media.

Below are this week's seven most popular original shows on Netflix and other streaming services:

7. "Titans" (DC Universe)

Average demand expressions: 32,241,482

Description: "TITANS follows young heroes from across the DC Universe as they come of age and find belonging in a gritty take on the classic Teen Titans franchise. Dick Grayson and Rachel Roth, a special young girl possessed by a strange darkness, get embroiled in a conspiracy that could bring Hell on Earth. Joining them along the way are the hot-headed Starfire and lovable Beast Boy. Together they become a surrogate family and team of heroes."

Rotten Tomatoes critic score (Season 1): 79%

What critics said: "Rejoice DC Fans you finally have the Batman you've always wanted to see. Only it's not Batman, it's Robin and he is kicking so much butt that I was giggling like a schoolgirl. It starts dark, but it looks like it's going to lighten up." — Michelle Alexandria, Eclipse Magazine

Season 1 premiered on DC Universe October 12. Season 2 premieres this fall.



6. "Chilling Adventures of Sabrina" (Netflix)

Average demand expressions: 33,448,015 

Description: "It's a wicked world out there, and Sabrina is brewing up trouble. After signing her name in the Book of the Beast, Sabrina struggles to find the balance between her place in the mortal world and her new darker side. New challenges await Sabrina in Part 2, including having to choose between the familiar mortal Harvey Kinkle, and the sexy warlock Nicholas Scratch. She may have signed her name to the Dark Lord, but that doesn't mean she isn't willing to raise a little hell. Starring Kiernan Shipka."

Rotten Tomatoes critic score (Part 2): 81%

What critics said: "Sabrina's battle plays out as something unfortunately all too familiar to any woman who's ever struggled for every step of progress while watching men blow off work and get rewarded." — Lisa Weidenfeld, AV Club

Part 2 premiered on Netflix April 5.



5. "The Act" (Hulu)

Average demand expressions: 40,848,474

Description: "The Act is a seasonal anthology series that tells startling, stranger-than-fiction true crime stories. Season One follows Gypsy Blanchard (Joey King), a girl trying to escape the toxic relationship she has with her overprotective mother, Dee Dee (Patricia Arquette). Her quest for independence opens a Pandora's box of secrets, one that ultimately leads to murder."

Rotten Tomatoes critic score (Season 1): 91%

What critics said: "A reminder that even when you think you know a great deal about true story, there can be value in retelling it." — Brian Tallerico, RogerEbert.com

Season 1 premiered on Hulu March 20.



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          Millennials are building multimillion-dollar beauty empires on their massive Instagram and Snapchat followings, and it's disrupting a centuries-old industry      Comment   Translate Page      

selfie made millionaires and billionaires 4x3

  • From Rihanna to Emily Weiss, more young women are disrupting the beauty space with cosmetic lines that thrive on social media.
  • While millennials are leading the way with the industry's disruption, other generational outliers — notably 21-year-old Gen-Zer Kylie Jenner and 62-year-old Anastasia Soare — are also key players in the trend.
  • Over time, beauty industry marketing has evolved from word-of-mouth and traditional ad campaigns to Instagram tutorials and user-generated content, making it easier than ever to launch a new brand.
  • This has opened the door for celebrities and influencers to create their own beauty brands and sell them to their strong social media followings, transforming fanbase numbers into revenue.
  • This has given rise to a new generation of wealthy women, who sit on top of beauty empire fortunes they created with their own digital prowess.
  • Visit BusinessInsider.com for more stories.

Social media has minted a new type of money maker: the "selfie-made billionaire."

That's what Natalie Robehmed of Forbes dubbed Kylie Jenner, the world's youngest self-made billionaire ever. 

Jenner's $1 billion net worth comes largely from her eponymous cosmetics line, Kylie Cosmetics, which launched in 2015. Three years later, revenue was an estimated $360 million, the company worth $900 million, Robehmed reported. 

While Jenner may be one of the more extreme examples, she isn't an anomaly — a long history of women have accrued wealth by building beauty empires. The first female self-made millionaire, Madam CJ Walker, built her fortune off a line of hair care products she developed in 1905, according to Isis Madrid of Broadly. Beauty mavens Estée Lauder and Bobbi Brown started their brands decades before the millennium.

In 2018, Jenner was a newcomer to Forbes' richest self-made women list, along with Forbes' other "Instagram-savvy makeup moguls" — Anastasia Soare, Huda Kattan, and Kim Kardashian West, who all also have their own beauty lines.

Then there's Emily Weiss, founder and CEO of cult beauty brand Glossier. On March 19, the direct-to-consumer beauty brand hit unicorn status with new funding that put its value at $1.2 billion, reported Katie Roof and Yuliya Chernova of The Wall Street Journal

While these women aren't the first of their kind to build wealth by tapping into the beauty industry, they are part of a growing number of women who have successfully done so by leveraging social media. What's changed isn't the idea of starting a cosmetics line, but how millennials are disrupting the process in today's technological age while propelling fast company growth and amassing personal fortune.

Read more: Meet the 7 women who made Forbes' richest self-made women list for the first time, including almost-billionaire Kylie Jenner

Estée Lauder and Bobbi Brown got their start through word-of-mouth

"Getting a brand known has from the beginning involved word-of-mouth and getting attention from an influential journalist," Geoffrey Jones, a professor at Harvard Business School and author of the book "Beauty Imagined," told Business Insider.

Estee Lauder

Consider Estée Lauder: "She gave away 80 of her lipsticks as table gifts for a charity luncheon in the Waldorf-Astoria," Jones said. "The rich guests then walked over to the nearby Saks Fifth Avenue to ask for it."

In 1947, Lauder received her first major order for $800 worth of products from Saks. She grew her business with traditional print advertising and word-of-mouth campaigns, believing that women who liked her products would spread the word. In 2018, the company reported $13.68 billion in net sales and Bloomberg estimated the Lauder family to be worth $24.3 billion.

The beauty behemoth now has nearly 30 brands in its portfolio; in 1995, it acquired Bobbi Brown Cosmetics, making the line's namesake founder a millionaire, reported CNBC's Catherine Clifford

Bobbi Brown

Being bought by a big firm is a sign of success, Jones said. Bobbi Brown, who told Inc. she began the line with $10,000, also favored a word-of-mouth strategy. By talking to strangers and friends, she found a business partner, landed a mention in Glamour magazine, conducted market research, connected with a Bergdorf Goodman cosmetics buyer, and secured regular appearances on The Today Show, according to Clifford.

But that was before the disintegration of traditional distribution channels, which Jones said has happened over the past decade.

Anastasia Soare

Look no further than Soare's Anastasia of Beverly Hills line to see this shift in action. According to Forbes, it's one of the first beauty companies to use a successful social media strategy — but Soare didn't begin that way.

The aesthetician first became a celebrity favorite in the early 1990s for perfecting the eyebrow. In 2000, she took the traditional route, launching her first line of products in 20 Nordstrom stores, reported Forbes. But it didn't really take off until Soare took to Instagram in 2013 with a viral social media campaign, which helped land her products in Sephora.

Today, the company's Instagram has 19 million-plus followers, and the company has a Forbes estimated value of $1.5 billion. Soare herself is worth an estimated $1 billion, making her one of the world's richest self-made women.

Read more: This self-made billionaire built her fortune after fleeing communism in Romania in the 80s and building a salon beloved by Jennifer Lopez and Kim Kardashian

A shift to digital means brands can make the consumer an influencer

As Soare's success indicates, "Social media has become the new door-to-door," Jensen said, adding it "allows consumers to research, investigate, and gather information on everything from ingredients to brand values to see if they align to their own. The brands that use social media well are leveraging it to build a two way street of communication with their followers and because of that, they get buy-in to the brand."

Consider Weiss, who realized that social media was "transforming the way beauty products were talked about and bought," and intended to disrupt the industry, wrote Amy Larocca of The Cut, hailing her as the millennial Estée Lauder.

"There are a handful of beauty conglomerates, and it's difficult for them to innovate," Weiss, who uses social media as market research, previously told Business Insider. "Beauty has really gone online, because that's where the customer is."

In 2010, she launched the blog Into the Gloss. It soon became popular among beauty mavens, amassing 10 million page views per month, according to Alyssa Goacobbe of Entrepreneur — a solid platform on which to launch the first four Glossier products in 2014.

emily weiss glossier

Instead of aiming at wholesale, Weiss intended to crowdsource — through social-media platforms, affiliate sponsorships and links, and gossip, wrote Larocca. As Gaby Del Valle of Vox puts it, Glossier's success lies in treating its customers like influencers.

To market a new blush, Cloud Paint, Weiss hired makeup artists to use it on Oscar-attending celebrities and post the results on social media, Giacobbe wrote — regrams resulted in 1,700 user-generated images in one week; by one month, Instagram had 6,368 Cloud Paint images.

In a recent podcast interview, Weiss said that Instagram "has been an incredible tool to show a lot of user-generated content." 

While Weiss' net worth is unknown, the $1.2 billion value of Glossier says enough.

Read more: This beauty startup has become so popular that it has 10,000 people on a waitlist for lipstick

A social media following equals revenue for celebrities foraying into beauty

"Having a large social media following equates to sales," Jensen said.

A strong social media presence is so directly tied to revenue that it can lay the whole foundation for a beauty empire's success — those with stardom and a following already have a fanbase with built-in customers, and nowhere is that more visible than in Kylie Jenner's and Rihanna's respective beauty empires.

"It's the power of social media," Jenner told Robhemed. "I had such a strong reach before I was able to start anything."

Jenner launched Kylie Cosmetics to 50 million Instagram followers on her personal account, reported Sarah Grossbart for E! News. Nearly four years later, that number has more than doubled. "With more than 100 million Instagram devotees, she need only post a selfie touting her shade of the day and her young followers clamor to add it to their carts," Grossbart wrote.

kylie jenner

Dubbed "Cosmetics Queen" by Forbes, Jenner continues to push direct-to-consumer Kylie Cosmetics by sharing products, announcing launches, and previewing new items to her 175 million-plus followers across Snapchat, Instagram, Facebook, and Twitter, Robhemed reported

"I don’t pay for advertisements," Jenner told Fast Company. "I don’t do commercials. Social media is the only way I push it: Snapchat, Instagram."

She didn't sign her first distribution deal until three years later, with Ulta, which she pushed with her "usual social media," Jenner told Robhemed — it sold an estimated $54 million worth of products in the first six weeks.

Read more: How Kylie Jenner became the world's youngest self-made billionaire, from starring in a reality TV show at age 9 to running a $900 million cosmetics empire at 21

Similarly, Rihanna, who has an estimated $260 million net worth and nearly 69 million Instagram followers, launched Fenty Beauty at New York Fashion Week in 2017 — and she first alluded to with an Instagram teaser. In just one month, it made $72 million in earned media value (the potential value it would have earned if paid for all exposure on social media platforms), outpacing Kylie Cosmetics according to a Tribe Dynamics' Cosmetics report released by WWD.

rihanna fenty beauty

About 132 million people watched Fenty beauty tutorials in the first month of its launch, reported Janice Williams of Newsweek. Within its first 40 days, Fenty brought in $100 million in sales, according to Vogue.

"Fenty Beauty’s social media game has had a clear impact on its success," Williams wrote. "While Rihanna's social media handle flooded Twitter, Instagram, Snapchat, and YouTube with photos, videos and tutorials, millions of people used their own social media accounts to show off their products and offer testimonials."

In its first year alone, Fenty made $566 million, reported the Business of Fashion, citing an LVMH report — it took Estée Lauder 10 years to earn $500 million, according to WWD.

Read more: Rihanna is reportedly launching her own line with one of the biggest luxury companies in the world as her fashion empire continues to grow

Youtube creators translate their personalities into beauty brands

Not every beauty influencer is a celebrity — some gained notoriety because of YouTube or Instagram, and successfully translated their social media personalities into massive beauty brands and multimillion-dollar net worths.

Huda Kattan, called one of the most influential beauty bloggers in the world by The New York Times, began sharing makeup tutorials, how-to videos, and tips on Instagram and YouTube in 2010. Her following grew so much that when she launched synthetic and faux mink lashes in 2013, they sold out on her first day. Today, she has over 577 million Instagram followers between her personal and private accounts and 3.1 million YouTube subscribers.

Huda Kattan

Kattan told CNN Instagram was the turning point. "It was the catalyst that changed everything," she said. "It changed the dynamics in which people not only communicate but are inspired as well."

Retail sales for Huda Beauty hit $1.5 million the first year — revenue for 2018 was expected to be $300 million, according to ForbesForbes valued her company at $1 billion and Kattan herself worth $500 million, based largely on their "valuation of her stake in the company." 

It's a similar success story for influencer Michelle Phan, who got her start sharing beauty tutorials and guides on YouTube — 40,000 people watched her first video the first week; the now defunct channel has nearly 9 million subscribers.

Michelle Phan

Phan, reportedly worth $50 million, parlayed that success into the cosmetics industry with makeup subscription company Ipsy in 2011, valued at $800 million with more than 1.5 million subscribers just five years later, according to Yahoo. In 2013, she launched her own cosmetic line for L'Oreal called EM Cosmetics. 

"Influence is the new power — if you have influence you can create a brand," Phan told Forbes.

Beauty is booming

It's easy to see why more influencers and celebrities are entering the beauty space — and the effect they're creating when they do. The beauty industry has grown exponentially over the last three decades, Jones said. As of 2010, the beauty industry had global sales of $330 billion worldwide, according to "Beauty Imagined."

"In the past, luxury brands sold through department stores and mass brands sold through drugstores," Jones said. Now, though, "the whole market has fragmented, providing the opportunity for the launch of many new brands."

Over 1,000 beauty brands have entered the prestige market since 2015 because it's lucrative, healthy, and profitable, Larissa Jensen, beauty analyst at The NPD Group, told Business Insider.

It's also easier than ever before to create and launch a brand, Jennifer Walsh, co-founder of retailer Beauty Bar, consultant, and brand marketer, told Business Insider. And the power of digital has made it even easier to reach consumers.

"For decades, we had to rely on print media and TV to introduce a brand or products," she said. "Now, we can have our own channel online. If you have a great product, beautiful packaging, and are good at storytelling, you can truly get your message/product out to others quickly."

Join the conversation about this story »

NOW WATCH: Realtors tout home listings without popcorn ceilings. Here's how to get rid of the outdated eyesore if it's in your home.


          Activists say Alphabet’s planned neighborhood in Toronto shows all the warning signs of Amazon HQ2-style breakup      Comment   Translate Page      

Sidewalk Toronto

  • Sidewalk Labs, the urban innovation arm of Google's parent company, Alphabet, plans to build a high-tech neighborhood along Toronto's Eastern Waterfront.
  • Local residents concerned about the company's plan to collect data in public spaces have waged an opposition campaign called Block Sidewalk, which is calling for an end to the project.  
  • The backlash is reminiscent of protests over Google's planned campus in Berlin and Amazon's proposed headquarters in New York City — both of which were abandoned before construction had even begun.  
  • The fate of these projects could provide a window into Alphabet's future in Toronto. 
  • Visit BusinessInsider.com for more stories.

Technology companies were once heralded as the world's greatest problem-solvers — the answer to our desire to move faster, design quicker, and communicate more often. Today, they're blamed for all manner of ills, from skyrocketing rents to privacy violations to income inequality. 

Before this deep distrust began to bubble up in our culture, it would have been hard to imagine any city saying no to a development led by tech giants such as Amazon or Google. But that's exactly what's happening in cities like Berlin, New York City, and Toronto, where citizens have begun to challenge the role of tech companies as city-builders. 

In October 2018, Google cancelled plans to build a 32,000-square-foot campus in Kreuzberg, Berlin, amid activists' fears that the campus would drive up rents and push low-income residents out of their neighborhoods.

Read more: There's a battle brewing over Google's $1 billion high-tech neighborhood, and it could have major privacy implications for cities

Three months later, Amazon made the stunning decision to walk away from its planned second headquarters in New York City, known as HQ2, following a similar resistance from local politicians, who banded together to oppose the new development. 

As the two projects fought to stay alive, Sidewalk Labs — the urban innovation arm of Google's parent company, Alphabet — was developing plans for a $1 billion high-tech neighborhood in Toronto.

That project is now facing a similar opposition from angry residents who have called for its demise. As the backlash gains momentum, it could force Sidewalk Labs to abandon or alter its vision. 

google berlin protests

Sidewalk Labs has a hazy vision for a new kind of neighborhood

Unlike the previous Amazon and Google developments, Sidewalk Labs isn't attempting to build a hub for its employees. The Alphabet subsidiary wants to construct an entirely new neighborhood in Toronto — basically a living lab for urban design —  from scratch. The real-life "SimCity," known as Quayside, will sit atop 12 acres of land along Toronto's Eastern Waterfront. 

The company says its goal is to "set new standards" for how cities are designed and built, but the bulk of its ideas, including heated roadways for driverless vehicles and underground sensors that measure things like air quality and noise, aren't exactly new. 

In December, the company released a draft of its site plan that shows a mixed-use development with both commercial space and "flexible" floors that include retail and community areas. The majority of the neighborhood will be dedicated to housing — around 2,500 units for an estimated 5,000 residents. About 20% of this housing is labeled "affordable," though the company doesn't refer to specific income brackets.

The plan highlights concepts such as "people-friendly" roads, "animated" ground floor spaces, and "exceptional" bicycle infrastructure. Buildings will be made of mass timber and rely on sustainable heat sources like solar panels and geothermal wells. The most futuristic design elements are robots that deliver mail and transport garbage through underground tunnels.

The company has yet to release its full master plan, which is supposed to be approved by its board of directors and development partner, Waterfront Toronto, by September 30.

Some Canadians have begun to question whether the opacity is intentional. "By the time we get to the plans, essentially the decision has been made," said surveillance expert David Murakami Wood, who teaches at Queen's University in Ontario. 

Murakami Wood described the neighborhood as an "empire of choice," where citizens' needs and desires are satisfied by, but also dependent on, Google technology. 

Some people are concerned that Quayside will violate their privacy

Around the same time that Amazon pulled out of New York City, Sidewalk Labs was enduring its own string of controversy. In February, the Toronto Star published leaked documents that showed the company's desire to fund a new light rail transit line in Toronto. In exchange, it would receive discounted property taxes and collect fees from developers that would normally go back to the city.

In a statement to The Canadian Press, Toronto city councilman Gord Perks said the leak was "confirmation of our worst fears." He then called upon Canada's national, provincial, and local governments to "halt the process with Google." 

Prior to the leak, Sidewalk Labs and Waterfront Toronto had already generated criticism for a lack of dialogue with community residents. Attendees of public meetings hosted by the two entities said each meeting started with a presentation that informed community members of existing plans rather than asking the public to help build ideas from scratch.

From the very first community meeting, "the public really didn’t have a say" said Melissa Goldstein, a Torontonian who's been vocally opposed to the project. Goldstein said Sidewalk Labs responded to her critiques by "gaslighting," or making her feel that her concerns weren't valid.

"Every time a criticism is made of what they're doing, they basically absorb that criticism, re-package it, and sell it back to us as if they'd always thought this all along," Murakami Wood told Business Insider. "It's very basic and very obvious, and yet people fall for it every time." 

Sidewalk Labs previously told Business Insider that their ideas have "evolved, developed, and benefited" from the public's response.

Toronto Sidewalk Labs

The struggle to achieve transparency over rudimentary plans has many locals, including tech workers and business execs, questioning the company's approach to privacy. 

By capturing the activity of residents through underground sensors, Sidewalk Labs would learn about certain daily movements and behaviors, like when a person is stopped at a traffic light or seated on a park bench. The company has pledged to make all of its public data anonymous, but it hasn't agreed to keep its data local.

Sidewalk Labs believes that its Quayside data can be governed under Canadian law without exclusively residing in the country. This would allow companies — and particularly startups — outside Canada to use the data for their own competitive agendas.

To see how a practice like this could play out, it's helpful to look at Facebook, which has been known to share users' contact information, calendars, friend lists, or private messages with companies like Apple, Spotify, and Netflix.

For the most part, this information has helped companies customize their user experiences and target new customers. But, in 2018, Facebook sold data on tens of millions of Americans to an English political consulting firm called Cambridge Analytica, which allegedly used this information to support Donald Trump's election in 2016. A year after the scandal broke, Facebook announced it would no longer provide third-party data services for targeted advertising.

Sidewalk Labs insists that the way to protect residents' personal information is to develop strong contracts and methods of encryption. 

The company has issued a lengthy proposal for an independent data trust that would hold it to the same standards as any other organization or government body. But the company also said there are no existing laws that determine ownership of this information, and few regulations that successfully protect it.

The trust, Murakami Wood said, is "a clearinghouse for other corporations to use that same data," which he said would be difficult to police outside Canada.

Residents are campaigning to 'Block Sidewalk'

Days before the data trust was announced, a technology expert on Waterfront Toronto's Digital Strategy Advisory Panel, Saadia Muzaffar, resigned over a lack of transparency. The panel, which formed in April 2018, focuses on guiding the fair and safe use of data technology in Quayside. Muzaffar was soon joined by one of the project's privacy experts, who was concerned that Sidewalk Labs wouldn't properly govern people's information. 

Their criticism has been echoed by Bianca Wylie, the co-founder of Tech Reset Canada, an organization that advocates for using technology to maximize the public good.

Back in October, Wylie questioned the need for Sidewalk Labs to collect personal information, worrying that it could be used to further its financial interests. At the time, she was still talking with Sidewalk Labs online and at public meetings. But when the leaked documents were published in the Toronto Star, she decided that the project had gone too far.

That was the "tipping point," she told Business Insider. 

Sidewalk Toronto

Wylie helped organize a campaign called Block Sidewalk along with 30 other locals, including Goldstein and Murakami Wood. The movement has since swelled to encompass hundreds of people with reservations about the project. 

"What we know about Sidewalk Labs is that they're accountable to their shareholders," Wylie told Business Insider. "If they'd read the room, they would [walk away]." 

As with Amazon HQ2, it's unclear how many residents actually oppose the development. A February poll conducted by the Toronto Region Board of Trade (TRBOT) showed that a slim majority of Torontonians were in favor of Quayside, but the poll was conducted prior to the leaked documents in the Toronto Star. As a trade organization, the TRBOT also stands to benefit from new development.

Goldstein said there's a lot less criticism of Google in Toronto than in other cities. One reason for this, she said, is that many residents associate Google with technologies that have improved their lives, such as Gmail and Google Maps. Though Toronto has its fair share of tech companies, it also hasn't witnessed the explosive tech takeover that widened inequality in US cities like Seattle, Washington, and San Francisco, California. 

Goldstein also believes many Toronto residents don't understand the project's details. 

"The vast majority have absolutely no idea what's going on," she told Business Insider. "It's hard to be opposed to something when you don't know anything about it."

There are similarities between Quayside and Amazon HQ2

In response to these criticisms, Sidewalk Labs pointed Business Insider to a recent editorial written by CEO and co-founder Dan Doctoroff.

"We weren't trying to do anything in secret — and none of what we are considering could ever happen without robust public discussion and approval processes — although we recognize that it might have seemed that way," Doctoroff wrote. "We aren't yet sure ourselves what commitments we are prepared to make." 

Dan Doctoroff

Doctoroff sees Sidewalk Labs as a "catalyst" for development along the Eastern Waterfront. But Block Sidewalk says the company is behaving like a government. 

Back when Amazon HQ2 was still headed to Queens, it was difficult to tell which priorities belonged to the tech giant and which belonged to New York City. The deal seemed to fulfill certain government wish-list items, like a slew of high-paying tech jobs and investments, but it also afforded Amazon nearly $3 billion in tax incentives.

The ongoing debate in Toronto raises similar questions about who's in charge. Sidewalk Labs has characterized its activity as executing the vision of Waterfront Toronto, a government agency, but Murakami Wood said Waterfront Toronto "seems intent on giving away control." As the public meetings went on, he said, Sidewalk Labs "showed nothing other than supreme arrogance" in pushing forward their own ideas without properly addressing residents' concerns.

According to Miguel Gamiño, New York City's former chief technology officer, development projects work best when local citizens are placed at the center of the conversation. Both Amazon HQ2 and Quayside, he said, would have benefited from more dialogue and better engagement between residents, government, and the private sector.

The project's future is uncertain

Wylie said the HQ2 debacle taught her how much it matters to speak up about local development practices. In the future, it might also provide a blueprint for how Torontonians could pressure Sidewalk Labs. 

When New York activists and politicians began opposing Amazon HQ2 last year, the company was forced to rethink its deal. In a statement announcing their change of heart, Amazon said that friction with local and state politicians prevented it from "go[ing] forward with the project we and many others envisioned in Long Island City." 

The same could happen to Quayside if Toronto's rallying cry becomes any louder. 

"If Sidewalk Labs looks like it's creating bad publicity for Alphabet as a whole, Alphabet will drop Sidewalk Labs," Murakami Wood told Business Insider.

Sidewalk Labs did not say whether this was a possibility, but a spokesperson recently told the Canadian Press that it "will be up to residents, Waterfront Toronto, and all three levels of government to decide" if the plan moves forward.

Join the conversation about this story »

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          Bryson DeChambeau hit a rare hole-in-one on the Masters' 16th hole for the first ace of his life      Comment   Translate Page      

Bryson DeChambeau

Here is the shot, via CBS:

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          A day in the life of Playboy's Playmate of the Year, who wakes up at 7:30 a.m., works out with a private trainer twice a week, and helps run a non-profit for women      Comment   Translate Page      

jordan emanuel playboy bunny

  • Jordan Emanuel is Playboy's 2019 Playmate of the Year.
  • She also works as a Playboy Bunny at the recently opened Playboy Club in New York City.
  • Emanuel wakes up at 7:30 a.m., does a 10-step skincare routine, works out with her personal trainer, and spends the day on modeling shoots and auditions or working at the non-profit for women she co-founded.
  • She starts her Playboy Bunny shift at the club at 7:30 p.m, but she gets there early because it takes at least 30 minutes to put on her Bunny costume.
  • Here's a look at her typical day, as told to Business Insider.
  • Visit BusinessInsider.com for more stories.

At New York City's Playboy Club, which opened in September 2018, 30 years after the last original club closed down, Playboy Bunnies in their iconic costumes and bunny ears serve drinks to patrons in a swanky lounge setting.

Jordan Emanuel is one of those Bunnies. She works at the Playboy Club on Tuesday nights and she's also Playboy's Playmate of the Year. Being a Playmate is a role that can entail appearing in the magazine, working special events, and acting as an ambassador for the brand.

Read more: A Playboy Bunny is not the same as a Playboy Playmate. Here are the 2 key differences.

But Emanuel's time is spent on much more than her Playboy work. When she's not working at the club as a Bunny, Emanuel's days are taken up by sessions with her personal trainer, modeling shoots and auditions, and working at the non-profit she co-founded, Women With Voices.

"What's great about everything that I do is that it doesn't necessarily require 100% of my time," Emanuel, 25, told Business Insider. 

"I genuinely just like the rotation of keeping it fresh and interacting with new people," she said.

Read more: The creative director of NYC's Playboy Club says he looks for 2 qualities when hiring a Playboy Bunny — and that one red flag will keep someone from getting the job

The Playboy Club's creative director, Richie Notar, told Business Insider in November that one of the main things he looks for when hiring a Playboy Bunny is someone who has something interesting going on in their lives outside the job.

"One of the things that I would like to do ... is focus on people that have something interesting outside of this," Notar said. "I want them to be interesting in different ways other than just bringing you a drink."

Emanuel certainly seems to fit the bill. Here's a look at a typical day in her life. 

Jordan Emanuel is Playboy's Playmate of the Year and a Playboy Bunny at the Playboy Club in New York City.



As a Playmate, she has appeared in the magazine and works special events. But that side of things doesn't take up much of her time at the moment. "As of now, it's more sporadic events and appearances," Emanuel said. "In November I did a video promoting voting and registering to vote."



In addition to her work with Playboy, Emanuel has been doing print and commercial modeling work for about two years.



See the rest of the story at INSIDER
          Цукерберг, go home       Comment   Translate Page      

Крупные акционеры компании Facebook, Ink выступают с предложением сместить создателя социальной сети Марка Цукерберга с поста председателя совета директоров на ближайшем ежегодном собрании. Об этом пишет издание Business Insider. 

«Компания уведомила комиссию по ценным бумагам и биржам о проведении ежегодного собрания акционеров 30 мая и подтвердила предложения инвесторов, которые будут вынесены на голосование», — сообщает издание.

Информация также подтверждается заявлением, опубликованным на официальном сайте Комиссии по ценным бумагам и биржам США. В тексте сказано, что причиной инициативы акционеров стало обрушение оценочной стоимости компании на 40 % из-за решений руководства. В связи с этим владельцы ценных бумаг предлагают изменить структуру компании Facebook, Ink, разделив должности гендиректора и председателя правления.

«Генеральный директор, который также является председателем, может оказывать чрезмерное влияние на совет и его повестку дня, ослабляя надзор за советом со стороны совета директоров»,— сказано в заявлении. 

Также акционеры указывают, что Цукерберг мог быть причастен к вмешательству в выборы США, к обмену данных с производителями устройств, включая Huawei, который разведка США расценила как угрозу национальной безопасности, и к распространению поддельных новостей. Кроме того, авторы заявления напоминают о несправедливом распределении голосов в правлении — Марку Цукербергу принадлежат 13 % акций Facebook, Ink, но при этом в правлении ему отводится доля в 51 % всех голосов, что не устраивает других держателей ценных бумаг компании.

Именно последний факт, скорее всего, не позволит пройти инициативе отдельных акционеров. За самим основателем соцсети Марком Цукербергом закреплено больше половины голосов, и едва ли он станет голосовать сам против себя. 

Напомним, это уже не первая попытка ослабить Цукерберга и сместить его с поста председателя совета директоров. Так, в октябре прошлого года четыре госфонда США, владеющих акциями Facebook, Ink, предложили уволить Марка Цукерберга с поста главы компании. Как сообщал тогда Reuters, поводом для этого стала та же череда скандалов, в которые оказалась втянута соцсеть. Казначей штата Род-Айленд Сет Мэгазинер заявлял, что предложение фондов — способ привлечь внимание общественности к проблемам Facebook.

Однако перестановок тогда не случилось, как не произошло их и летом того же года. В июне 2018-го инвесторы, вложившие в Facebook в общей сложности три млрд долларов, требовали отставки Цукерберга, а также разделения постов главы правления и гендиректора. Business Insider сообщало тогда, что формальным поводом стал скандал с Cambridge Analytica и утечкой данных 87 млн пользователей соцсети. Акционеров тогда не устроила реакция Facebook на происходящее, а в самой ситуации обвинили Цукерберга.

«У нас есть опасения насчет структуры правления, которые компания, кажется, не готова устранить, а это может привести к возникновению проблем — репутационных, с регуляторами и других»,— говорил изданию финансовый инспектор Нью-Йорка.

Наконец, еще одна попытка была предпринята в 2017 году на общем собрании акционеров. Тогда большая часть независимых держателей акций была согласна с предложением ослабить влияние Цукерберга на Facebook, но предложения были ожидаемо отвергнуты. В самой компании недовольство инвесторов не комментируют.

Напомним, социальная сеть была основана чуть больше 15 лет назад, ее официальным днем рождения считают 4 февраля 2004 года. Сейчас Facebook считается самой крупной социальной сетью в мире, ее ежемесячная аудитория составляет больше двух млрд пользователей, а стоимость компании оценивается почти в 500 млрд долларов. 


          Αυτό είναι το ιδανικό μέσο εισόδημα σε κάθε ηλικία      Comment   Translate Page      
Τι δείχνουν τα στοιχεία της Fed και ποια είναι η πραγματικότητα Το μέσο εισόδημα που θα πρέπει να έχει ένας άνθρωπος σε κάθε δεκαετία της ζωής του, προκειμένου να ζει άνετα, παρουσιάζει το Business Insider επικαλούμενο έρευνα των οικοκομικών κατανάλωσης της Κεντρικής Τράπεζας των ΗΠΑ (Fed). Σύμφωνα λοιπόν με την Fed, ο μέσος όρος των …
          The cofounder of MoviePass recounts what led to his firing from the company he'd built from the ground up      Comment   Translate Page      

MoviePass

  • MoviePass cofounder Stacy Spikes breaks his silence about what led to his exit from the company.
  • Spikes told Business Insider that in January 2018, he was let go after months of disagreeing with the new owner of MoviePass, Helios and Matheson Analytics, about the $10 subscription price point.
  • Though it was giving the company thousands of new subscribers, Spikes felt it wasn't sustainable.
  • Visit BusinessInsider.com for more stories.

 

MoviePass cofounder Stacy Spikes admits he was not a happy camper a few months after Helios and Matheson Analytics bought MoviePass in summer 2017. And it's likely a big reason why he was then let go in the new year. 

Since 2005, Spikes had been building the scrappy startup into a revenue stream the US box office had never had before: movie-ticket subscription. The app was evolving with the times and slowly growing in popularity among moviegoers, with the price point ranging from $12 a month to up to $75 (which included access to 3D and IMAX showings). 

But the moment when the company suddenly came into the popular lexicon, and grabbed the attention of the industry, was in 2017 when Helios and Matheson Analytics became interested in buying MoviePass.

"Ultimately the proposal came in at $25 million for 51% of the company," Spikes told Business Insider. "And in the proposal it said they wanted us to temporarily drop the subscription price to $10 to help climb up to 100,000 subscriptions." 

Spikes said nothing in that proposal worried him, and in the summer of 2017, Helios and Matheson became the owners of MoviePass. In August of that year, the $10-a-month to see a movie a day deal was launched and MoviePass hit 100,000 subscribers in 48 hours. 

Stacy Spikes Getty"So I'm like, 'OK, turn it off, we reached our goal,'" Spikes said.

But the attention MoviePass suddenly received was too intoxicating for most at the company, especially the new owners. And despite Spikes' warnings, things went forward.

"Where things started to divide is: Myself and a handful of others were methodical about testing price points," Spikes said. "The lowest we ever got down to was $12.99 and as high as $75, where we added Imax and 3D. We knew what was sustainable. But the overriding voice was, 'No, this is awesome, look how fast we're growing.' And it was this moment of 'but $10.' It doesn't fly."

By December, Spikes said the company was growing at a quarter million subscribers a month. And despite his warnings that the company could not survive at that price point, no one would listen. 

With a clear divide between Spikes and the new leaders of the company — Mitch Lowe, who came on as CEO in 2016 (Spikes took the role of COO), and Helios and Matheson CEO Ted Farnsworth — Spikes said he received an email on January 9, 2018 that his services we no longer needed at the company.

Read more: Disney revealed the details of its Netflix rival, Disney Plus, including its price and release date

"After that, I've never spoken to Mitch or Ted," Spikes said. "And I've been watching it all unfold, like everyone else."

Spikes said he and the leadership "just disagreed on the approach." But he's not bitter about leaving the company he launched because, in his eyes, the idea of movie-ticket subscription working in the industry became a reality with AMC, Cinemark, Sinemia, Studio Movie Grill, soon Alamo Drafthouse, and others all getting into the movie-ticket subscription game.

"The good side was cinema had not been taken seriously since Netflix really got its footing," Spikes said. "So what I liked about that was this had risen to the zeitgeist of conversation. 75% of our members were under the age of 26. Cinema was an event people cared about again. So while there is a sadness around the brand, I was happy to see that this is front and center."

Read the entire Business Insider interview with Stacy Spikes. 

SEE ALSO: The 4 new Netflix original movies and TV shows released this weekend

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          Meet the most powerful Goldman Sachs banker you've never heard of; Silicon Valley has made top data-science talent too expensive for many hedge funds      Comment   Translate Page      

 

Dear Readers,

It was "millennial money week" here at BI, where we got the results back from an INSIDER and Morning Consult survey that polled 4,400 young Americans on their spending habits. 

We published a number of stories based on the results. Here are some of the key findings. 

If you're new to the Wall Street Insider newsletter, you can sign up here.

Finances

1) Twenty-eight percent of millennials think they're worse off financially than they thought they'd be a decade ago.

2) A variety of economic factors have played a role in delaying some millennials' wealth-building process. The Great Recession, student-loan debt, and a higher cost of living have made it difficult for millennials to save.

College

1) Nearly half of millennials who have or have had student-loan debt think college wasn't worthwhile.

2) The divide between people who do think college was worth it and those who don't is clear: Millennials who are still paying off their student-loan debt feel worse about having gone to college than millennials who have already paid off their debt.

Retirement

1) Many Americans expect to buy a house or retire one day but aren't saving for it.

2) One-quarter of millennials who expect to retire between ages 66 and 75 have no retirement savings account.

3) Nearly half of Gen Xers have no retirement account, despite most expecting to retire between 56 and 75.

But, despite all of these money worries, our survey shows that millennials aren't curbing their spending. In fact, if given an extra $1,000 in a month, millennials and baby boomers would spend similarly. And while millennials are delaying major life events such as buying a house and having kids (due in large part to massive student loan debt), they aren't abandoning these things entirely. 

Bottom line: millennials have been accused of killing razors, mayo, golf, weddings, beer, and cereal. The rationale for this (at least according to the Fed) has been that it's because younger Americans don't have as much money to spend than previous generations. But the truth is a lot more complicated. 

Thanks for reading and have a great weekend! 
Olivia


Rich Friedman goldman sachs merchant banking

'It's good to be Rich': Meet the Goldman Sachs banker who has built a private investing empire that goes head-to-head with Blackstone — and you've probably never heard of him

The Champagne was flowing in February 2018 when the Goldman Sachs executive Rich Friedman welcomed a couple hundred guests to the Rainbow Room. The Manhattan landmark, opened in 1934, offers a menu with beef Wellington and baked Alaska and serves a $162 brunch. Overlooking Manhattan from the 65th floor of Rockefeller Center, guests danced and chatted as Stevie Wonder played piano.

On the surface, the event was a celebration of Friedman's 60th birthday. But it could have easily been a celebration of a Goldman Sachs career entering its golden years. Therecent retirement of CEO Lloyd Blankfein made Friedman the longest-tenured partner at Goldman.

Since 1991, Friedman has built the bank's private-investing activities into a sprawling collection of funds that have invested more than $180 billion in real estate and infrastructure, private equity, and credit markets that often competes with flashier investment firms like Blackstone, Carlyle, and KKR.

Though advocates put him in the pantheon of buyout greats, Friedman hasn't enjoyed the same name recognition as men with names like Schwarzman, Kravis, and Rubenstein. That's by design, according to interviews with about a dozen current and former colleagues, clients, and competitors.

READ MORE HERE >>

Tim Throsby sent an email to Barclays' CEO with the title 'irreconcilable.' He warned that a plan to gut compensation by 20% and boost profitability was unrealistic.

Tim Throsby, a former JPMorgan banker hired by Barclays to much fanfare to run its investment bank, drafted an email over the weekend of March 23 to 24. By the time he got around to sending it to CEO Jes Staley, he was already out.

The subject line of the email, according to someone who had seen it, was "irreconcilable."

The email was sent to Staley and a number of other senior leaders on March 28, a day after Throsby's shock departure from Barclays was announced, and rehashed the concerns he held over his boss' strategy. The email said Staley planned for cost reductions and job cuts — including a 20% cut to total compensation — for Barclays International, as well as a reduction in reserves held in case of credit losses, according to the person.

READ MORE HERE>>

Silicon Valley has made top data-science talent too expensive for many hedge funds, so they're getting creative to compete

On one side, there are billions of dollars from the world's biggest investors ready to be run by your algorithm. On the other, there's a chance to work at the most talked-about companies on the planet —right as they promise to turn their employees into millionaires overnight.

The battle for top tech talent between Wall Street and Silicon Valley is nothing new, but it's reaching a fever pitch in the hedge fund industry, industry participants and consultants said, as both sides eye billions of dollars up for grabs thanks to a host of buzzy tech unicorns expected to go public, like Uber, Slack, and Pinterest.

This Silicon Valley gold rush has forced hedge funds to grapple with a problem they hardly ever run into: The industry is being outbid for the top talent.

READ MORE HERE >>

YieldStreet, a fintech company offering exotic investments in things like art, but experts are warning about the risk

Wealthy individuals who want to reap the financial benefits of investing in a Monet without actually owning an $80 million painting will soon have a new option.

YieldStreet, a financial platform that offers exotic investment products like marine finance and loans to law firms to the mass affluent, is buying an company called Athena Art Finance from private equity firm Carlyle in a deal valued at $170 million. YieldStreet's 100,000 investors will be able to invest in art financing as a result of the deal.

The deal comes as more financial technology players are trying to open up access to investments previously reserved for institutional or ultra-wealthy investors, such as private equity. Earlier this week, Nasdaq and iCapital, a BlackRock-backed alternative investment company, said they're working to create a platform that will launch later this year to allow private fund investors to sell their stakes before the end of a fund's life.

READ MORE HERE >>

BlackRock-backed iCapital is teaming up with Nasdaq to create a private equity fund selling platform for wealthy investors

As wealthy individuals get into private equity and other illiquid investments in greater numbers than ever, they're increasingly looking for ways to get out, too.

Institutional investors, who long dominated strategies like venture capital, private equity real estate, and private credit, have worked with advisers to sell their fund stakes on the secondaries market. That option hasn't been available to individual investors, who may not be able to keep their capital locked up for the decade or longer that a private fund requires.

Nasdaq and iCapital, a BlackRock-backed alternative investment company, are now seeking to give investors that option by creating a platform that will launch later this year, executives told Business Insider.

READ MORE HERE >>

An inside look at Digital Asset, the blockchain company that's shifting strategies as Wall Street loses interest in the technology

A blockchain company that no longer deals solely with blockchains.

Digital Asset made a name for itself as a leader in how distributed-ledger technology would be implemented on Wall Street when it burst onto the scene in 2014. Big-name backers, large funding rounds, and a former high-profile bank executive caused it to turn heads.

Five years later the industry is still considering how best to implement distributed-ledger technology. While nearly every Wall Street firm has invested resources into investigating blockchains, real-world applications of the technology beyond pilot programs have been largely nonexistent.

READ MORE HERE >>

Wall Street move of the week:

Barclays just lost two more executives as Ravi Singh departs after only four months

In markets:

In tech news:

Other good stories from around the newsroom:

Join the conversation about this story »


          Here are the officials who vote on the Federal Reserve committee that sets interest rates      Comment   Translate Page      

fed powell board governors

  • Interest rates are set through a voting system on the Federal Open Market Committee. 
  • That group consists of Fed governors and leaders of central bank branches across the country. 
  • Officials tend to be labeled as dovish or hawkish, depending on how much they focus on inflation or employment. 

President Donald Trump often blames his monetary policy frustrations on Federal Reserve Chairman Jerome Powell. But interest rates are determined by a group of central bankers, not by Powell alone.

Members of the Federal Open Market Committee typically meet eight times a year to vote on the federal funds rate. Seven individuals on the Board of Governors always vote — there are currently two of these seats open that Trump is planning nominations for.

Fed presidents from across the country take turns on the FOMC each year, though the New York bank’s leader always votes.

Here's who will be on the committee through 2021 and how they tend to view monetary policy, according to analysis by Bank of America Merrill Lynch. Inflation doves are seen as more concerned about employment than rising prices, while hawkish officials tend to favor higher interest rates.

FOMC monetary policy graphic

Governors

Presidents

SEE ALSO: Trump has been turning up the heat on the Fed and now the IMF is warning political pressure on central banks is 'dangerous'

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NOW WATCH: The founder and CIO of $12 billion Ariel Investments breaks down how his top-ranked flagship fund has crushed its peers over the past 10 years


          Tesla isn't the next Theranos — here are 10 reasons why (TSLA)      Comment   Translate Page      

Elizabeth Holmes

  • Tesla and Theranos are sometimes discussed in the same terms, as Tesla CEO Elon Musk has jousted with the SEC and former Theranos CEO Elizabeth Holmes faces criminal charges for accusations of fraud.
  • The Tesla-Theranos comparison, like the Tesla-Enron comparison, makes for fiery debates, but the comparison falls apart on closer scrutiny.
  • At base, Tesla has a product that's relatively easy to understand — cars — while Theranos product was shrouded in secrecy.
  • Visit Business Insider's homepage for more stories.


If you have the misfortune to follow or even periodically stumble across the discussion of Tesla impending bankruptcy on Twitter (#TSLAQ) or elsewhere on the internet, you're aware that the company is now often being compared to Theranos, the onetime $9-billion blood-testing startup that's now worth nothing and whose former CEO, Elizabeth Holmes, is currently facing criminal charges.

Tesla CEO Elon Musk has poured fuel on the #TSLAQ fire by running afoul of the Securities and Exchange Commission, just as Holmes did (she settled and was barred from serving as an officer of a public company for a decade). Tesla also added Oracle's Larry Ellison to its board — and Ellison was a Theranos investor.

As l'affaire Theranos has broken out of the business press. John Carreyou's Bad Blood, his account of Holmes' and Theranos' rise and fall, is a bestseller, with a film starring Jennifer Lawrence as Holmes in development. An HBO documentary premiered last month. A general climate of skepticism about Silicon Valley's "save the world" ambitions has also emerged in the aftermath of Facebook's scandals. 

Read more: The biggest question for Tesla is whether the company can make steady profits on its cars

This has all undermined the reality of Tesla and replaced it with a sort of wildly speculative canvas onto which assorted conspiracies and malfeasances can be painted. At base, Tesla is a relatively small auto company that, remarkably, has come to dominate the mostly abandoned electric-car business (there are more than a billion cars on the road worldwide, and almost none of them run on electricity).

Outlandish enthusiasm on Wall Street for the future of electric cars — coupled with too much money sloshing around in the economy thanks to post-financial crisis government action — has minted a stupid-high stock price for Tesla and intensified the focus on the company. Tesla itself has struggled mightily with its manufacturing fundamentals, becoming an outlier in an industry that easily built over 17 million cars and light trucks in the US alone last year, while Tesla managed 250,000.

Looks bad, right? But is it Theranos bad? Hardly. Here's why:

FOLLOW US: On Facebook for more car and transportation content!

1. Nobody understood Theranos' product.

Theranos' small-sample blood tests were supposed to be executed using a device named "Edison" that accelerated diagnostics, lowered costs, and democratized lab work. But the device never worked, something that the company concealed. Holmes' claims about the technology evidently confused experts for years.

Superficially, Tesla's and Musk's commitment to automated manufacturing could be construed as sort of "Edisonian" — except that everybody in the auto industry understands automation and its limits. They also understand the end product, which is an automobile. It's pretty easy to tell if either the production system is flawed or the product is bad: the cars don't roll off the assembly lines; or the cars don't work.



2. Theranos never went public.

Tesla staged an IPO in 2010 and for nine of its 15 years in business has been compelled by law to expose its financials four times a year.

Theranos was founded in 2003 and had no legal obligation to report its financials until it collapsed in 2018.

An IPO isn't a perfect mechanism to open up a company to scrutiny. But investors have been able to analyze Tesla's balance sheet and financials for almost a decade.



3. Theranos was the only thing Holmes had ever done.

Holmes dropped out of Stanford to start Theranos when she was 19. She had no background in business nor startups.

Musk sold his first company in 1999 and parlayed that success into another company that would eventually become PayPal. He then sank all his money into Tesla and SpaceX. 

Consequently, Musk knew that a real product was going to be critical to Tesla's survival.



See the rest of the story at Business Insider
          2 of America's most acclaimed wealth managers for the ultrarich explain why a famous approach to retirement investing is dead wrong — and reveal what people should do instead      Comment   Translate Page      

early retirement

  • Two of the most successful wealth managers in the US say the most basic approach to retirement investing — that younger people need stocks and older people should own bonds — is wrong.
  • Jeff Erdmann of Merrill Lynch and Peter Mallouk of Creative Planning have different criticisms of the philosophy, but both say investors need a different approach.
  • Forbes has ranked Erdmann as the best wealth manager in the US for three years in a row, while Barron's named Mallouk the no. 1 independent wealth manager four times in the last six years.
  • Visit BusinessInsider.com for more stories.

It's one of those things everyone who has thought about retirement knows: Younger people are supposed invest in stocks, and older people should mostly own bonds.

But two of the most respected wealth managers in the country say that's a bad approach.

The objections come from Jeff Erdmann, who has topped Forbes' list of the best wealth managers in America for the last three years, and Peter Mallouk, who Barron's named the no. 1 independent wealth advisor four times since 2013.

Both are very positive on stocks as long-term investments. That partially reflects their focus on wealthy families and maintaining wealth that can last for generations. But their concerns about the traditional strategy also have major implications for everyday investors and anyone with a 401(k).

The standard thinking about retirement investing is that younger people should own on high-growth assets like stocks, and as the years pass they should gradually get more conservative to get a steady stream of income and protect against big losses. The non-traditional response?

"You should throw that philosophy out the window," Erdmann said in a phone interview with Business Insider.

Erdmann, who works in Merrill Lynch's private banking and investment group, says that investors get such weak returns from bond, CDs and similar assets that they can't rely on them the way they did when that conventional wisdom was established.

Read more: America's No. 1-ranked wealth manager for the ultrarich breaks down the 3 mistakes every millennial investor should avoid — and what they should do instead

For example, the yield on the 10-year Treasury note was more than 10% in 1985, but hasn't touched 5% since early 2001. Last year markets were startled when the 10-year yield briefly "spiked" above 3%. Other conservative investments also don't provide the kind of returns they did in decades past.

"Whether you’re 88 or 18, (with) where we are in the interest rate cycle, your asset allocation is going to not necessarily be tremendously different," Erdmann said.

That's been a big contributor to the 10-year bull market in stocks: More conservative options just haven't appealed to a lot of people for many years. And it's not clear if it will change any time soon.

While Erdmann's objection to the traditional retirement strategy is based on the modern easy-money, low-interest-rate environment, Peter Mallouk of Kansas City-based Creative Planning says he doesn't think the strategy has ever been a good idea.

"The way the industry selects portfolio management ... doesn’t make sense," he said. "It just never has made sense."

Mallouk runs a $39 billion company that was named by Barron's as the best independent wealth management firm in 2017. He told Business Insider that age is nearly irrelevant to retirement investing.

Read more: America’s biggest wealth manager oversees $39 billion for the ultrarich. Here are the 5 ways he says you can invest like 'the millionaire next door.'

In his view, the only thing that's really important is the needs of the investor. A well-off young person with minimal needs can make conservative investments, and an older person who is behind on retirement saving needs to be more aggressive.

Mallouk says the traditional investing philosophy can leave retirees without enough money to meet their needs late in life. 

The two views have different implications: If you agree with Erdmann, you might conclude that investing more heavily in bonds as you age makes sense assuming yields rise substantially in the future. But if you hold with Mallouk, you would focus more on stocks even into retirement.

SEE ALSO: MORGAN STANLEY: This earnings season is the 'moment of truth' for stocks. Here's why the signs are pointing to a major disappointment for investors.

Join the conversation about this story »

NOW WATCH: The founder and CIO of $12 billion Ariel Investments breaks down how his top-ranked flagship fund has crushed its peers over the past 10 years


          What is a bone marrow transplant and how does it work: HIV cure - Business Insider      Comment   Translate Page      
What is a bone marrow transplant and how does it work: HIV cure  Business Insider

Bone marrow transplants have potential in more than 70 diseases, including many cancers, but the procedure also has important limits.


          Brexit cannot define us, says PM May's deputy as ratings dip - Reuters      Comment   Translate Page      
  1. Brexit cannot define us, says PM May's deputy as ratings dip  Reuters
  2. Conservative MPs fear May's Article 50 extension is the beginning of the end for Brexit  Business Insider
  3. U.K. Conservative Party’s Splits Wide as Ever: Brexit Update  Bloomberg
  4. Nigel Farage has caught his second wind – trivialising his influence now will make him unstoppable  The Independent
  5. What does the rest of Europe think about our Brexit shambles?  The Guardian
  6. View full coverage on Google News

          Police shoot man holding large stick in Red Bluff, California - Business Insider      Comment   Translate Page      
Police shoot man holding large stick in Red Bluff, California  Business Insider

An unidentified man brandishing a "large stick" was shot and killed by an officer around midnight on Sunday in Red Bluff, California, according to the local police ...


          A huge new 'Star Wars' game where you play as a Jedi is coming out this November - Business Insider      Comment   Translate Page      
A huge new 'Star Wars' game where you play as a Jedi is coming out this November  Business Insider

The next major "Star Wars" game arrives this November on Xbox One, PlayStation 4, and PC.


          The top 7 shows on Netflix and other streaming services this week      Comment   Translate Page      

chilling adventures of sabrina

  • Every week, Parrot Analytics provides Business Insider the most in-demand original TV shows on streaming services.
  • This week sees "On My Block" beating out the competition and the return "Chilling Adventures of Sabrina" to the list. 
  • Visit BusinessInsider.com for more stories.

"On My Block" is catching on as a favorite among Netflix subscribers, even edging out mega-hits like "Stranger Things" and "The Umbrella Academy" this week. And Sabrina the Teenage Witch has returned with "Chilling Adventures of Sabrina Part 2."

Every week, Parrot Analytics provides Business Insider with a list of the seven most "in-demand" TV shows on streaming services. The data is based on "demand expressions," the globally standardized TV demand measurement unit from Parrot Analytics. Audience demand reflects the desire, engagement, and viewership weighted by importance, so a stream or download is a higher expression of demand than a "like" or comment on social media.

Below are this week's seven most popular original shows on Netflix and other streaming services:

SEE ALSO: 'SNL' star Kate McKinnon will play disgraced Theranos founder Elizabeth Holmes in a Hulu series

7. "Titans" (DC Universe)

Average demand expressions: 32,241,482

Description: "TITANS follows young heroes from across the DC Universe as they come of age and find belonging in a gritty take on the classic Teen Titans franchise. Dick Grayson and Rachel Roth, a special young girl possessed by a strange darkness, get embroiled in a conspiracy that could bring Hell on Earth. Joining them along the way are the hot-headed Starfire and lovable Beast Boy. Together they become a surrogate family and team of heroes."

Rotten Tomatoes critic score (Season 1): 79%

What critics said: "Rejoice DC Fans you finally have the Batman you've always wanted to see. Only it's not Batman, it's Robin and he is kicking so much butt that I was giggling like a schoolgirl. It starts dark, but it looks like it's going to lighten up." — Michelle Alexandria, Eclipse Magazine

Season 1 premiered on DC Universe October 12. Season 2 premieres this fall.



6. "Chilling Adventures of Sabrina" (Netflix)

Average demand expressions: 33,448,015 

Description: "It's a wicked world out there, and Sabrina is brewing up trouble. After signing her name in the Book of the Beast, Sabrina struggles to find the balance between her place in the mortal world and her new darker side. New challenges await Sabrina in Part 2, including having to choose between the familiar mortal Harvey Kinkle, and the sexy warlock Nicholas Scratch. She may have signed her name to the Dark Lord, but that doesn't mean she isn't willing to raise a little hell. Starring Kiernan Shipka."

Rotten Tomatoes critic score (Part 2): 81%

What critics said: "Sabrina's battle plays out as something unfortunately all too familiar to any woman who's ever struggled for every step of progress while watching men blow off work and get rewarded." — Lisa Weidenfeld, AV Club

Part 2 premiered on Netflix April 5.



5. "The Act" (Hulu)

Average demand expressions: 40,848,474

Description: "The Act is a seasonal anthology series that tells startling, stranger-than-fiction true crime stories. Season One follows Gypsy Blanchard (Joey King), a girl trying to escape the toxic relationship she has with her overprotective mother, Dee Dee (Patricia Arquette). Her quest for independence opens a Pandora's box of secrets, one that ultimately leads to murder."

Rotten Tomatoes critic score (Season 1): 91%

What critics said: "A reminder that even when you think you know a great deal about true story, there can be value in retelling it." — Brian Tallerico, RogerEbert.com

Season 1 premiered on Hulu March 20.



See the rest of the story at Business Insider
          A huge new 'Star Wars' game where you play as a Jedi is coming out this November      Comment   Translate Page      

Star Wars Jedi: Fallen Order

  • A huge new "Star Wars" game was unveiled on Saturday, named "Star Wars Jedi: Fallen Order."
  • The game is being made by Respawn Entertainment, the same studio that created "Titanfall" and "Apex Legends." It arrives on November 15, for Xbox One, PlayStation 4, and PC.
  • "Star Wars Jedi: Fallen Order" fits into the movie canon between the events of "Episode 3" ("Revenge of the Sith") and "Episode 4" ("A New Hope").
  • Visit Business Insider's homepage for more stories.

A huge new "Star Wars" game was revealed on Saturday: "Star Wars Jedi: Fallen Order" is expected to arrive November 15 on Xbox One, PlayStation 4, and PC.

It's a single-player action game focused on lightsaber combat and Force powers. 

Even better: The game is being made by Respawn Entertainment, the same studio behind the excellent "Titanfall" series and recent blockbuster "Apex Legends."

Here's everything we know so far:

SEE ALSO: Sony is on the verge of announcing a new PlayStation — here are 5 crucial things it needs to do to stay on top

1. "Star Wars Jedi: Fallen Order" is a single-player action game with some light puzzle solving.

The gameplay in "Star Wars Jedi: Fallen Order" sounds more along the lines of "God of War" than "Star Wars Battlefront." 

"Players will use their Jedi training to create different melee combinations with an innovative lightsaber combat system and Force abilities," the game's press release says. "Players will also use traversal and other platforming abilities to strategically overcome opponents and solve puzzles in their path across this galaxy-spanning adventure."

In short: Melee-focused combat with some level of customization, in addition to special "Force" powers and movement.

 



2. It stars an entirely new character: Cal Kestis.

Spoilers for "Episode 3" ahead!

In "Star Wars: Revenge of the Sith" ("Episode 3"), a very moody Anakin Skywalker — before turning into everyone's favorite cyborg, Darth Vader — sets out to destroy the Jedi Order.

It's part of a bigger Jedi purge, known as "Order 66." Few Jedi survived the purge, but apparently the main character in "Star Wars Jedi: Fallen Order" is one of those few.

This is Cal Kestis, played by actor Cameron Monaghan.

It's not clear how Kestis escaped the purge or how he's related to the more well-known "Star Wars" characters. What is clear is that he'll start out on a planet named "Bracca," which is entirely new for the "Fallen Order."



3. There will be some fan service, as you might expect.

Given the timing of "Star Wars Jedi: Fallen Order" — falling in-between the events of "Revenge of the Sith" and "A New Hope" — it's not clear which major characters could show up. Perhaps Obi-Wan Kenobi, or a burgeoning Darth Vader? We'll see!

All we know so far is what was teased in the announcement: "'Star Wars' fans will recognize iconic locations, weapons, gear, and enemies, while also meeting a roster of fresh characters, locations, creatures, droids and adversaries new to 'Star Wars.'" 



See the rest of the story at Business Insider
          The cofounder of MoviePass recounts what led to his firing from the company he'd built from the ground up      Comment   Translate Page      

MoviePass

  • MoviePass cofounder Stacy Spikes breaks his silence about what led to his exit from the company.
  • Spikes told Business Insider that in January 2018, he was let go after months of disagreeing with the new owner of MoviePass, Helios and Matheson Analytics, about the $10 subscription price point.
  • Though it was giving the company thousands of new subscribers, Spikes felt it wasn't sustainable.
  • Visit BusinessInsider.com for more stories.

 

MoviePass cofounder Stacy Spikes admits he was not a happy camper a few months after Helios and Matheson Analytics bought MoviePass in summer 2017. And it's likely a big reason why he was then let go in the new year. 

Since 2005, Spikes had been building the scrappy startup into a revenue stream the US box office had never had before: movie-ticket subscription. The app was evolving with the times and slowly growing in popularity among moviegoers, with the price point ranging from $12 a month to up to $75 (which included access to 3D and IMAX showings). 

But the moment when the company suddenly came into the popular lexicon, and grabbed the attention of the industry, was in 2017 when Helios and Matheson Analytics became interested in buying MoviePass.

"Ultimately the proposal came in at $25 million for 51% of the company," Spikes told Business Insider. "And in the proposal it said they wanted us to temporarily drop the subscription price to $10 to help climb up to 100,000 subscriptions." 

Spikes said nothing in that proposal worried him, and in the summer of 2017, Helios and Matheson became the owners of MoviePass. In August of that year, the $10-a-month to see a movie a day deal was launched and MoviePass hit 100,000 subscribers in 48 hours. 

Stacy Spikes Getty"So I'm like, 'OK, turn it off, we reached our goal,'" Spikes said.

But the attention MoviePass suddenly received was too intoxicating for most at the company, especially the new owners. And despite Spikes' warnings, things went forward.

"Where things started to divide is: Myself and a handful of others were methodical about testing price points," Spikes said. "The lowest we ever got down to was $12.99 and as high as $75, where we added Imax and 3D. We knew what was sustainable. But the overriding voice was, 'No, this is awesome, look how fast we're growing.' And it was this moment of 'but $10.' It doesn't fly."

By December, Spikes said the company was growing at a quarter million subscribers a month. And despite his warnings that the company could not survive at that price point, no one would listen. 

With a clear divide between Spikes and the new leaders of the company — Mitch Lowe, who came on as CEO in 2016 (Spikes took the role of COO), and Helios and Matheson CEO Ted Farnsworth — Spikes said he received an email on January 9, 2018 that his services we no longer needed at the company.

Read more: Disney revealed the details of its Netflix rival, Disney Plus, including its price and release date

"After that, I've never spoken to Mitch or Ted," Spikes said. "And I've been watching it all unfold, like everyone else."

Spikes said he and the leadership "just disagreed on the approach." But he's not bitter about leaving the company he launched because, in his eyes, the idea of movie-ticket subscription working in the industry became a reality with AMC, Cinemark, Sinemia, Studio Movie Grill, soon Alamo Drafthouse, and others all getting into the movie-ticket subscription game.

"The good side was cinema had not been taken seriously since Netflix really got its footing," Spikes said. "So what I liked about that was this had risen to the zeitgeist of conversation. 75% of our members were under the age of 26. Cinema was an event people cared about again. So while there is a sadness around the brand, I was happy to see that this is front and center."

Read the entire Business Insider interview with Stacy Spikes. 

SEE ALSO: The 4 new Netflix original movies and TV shows released this weekend

Join the conversation about this story »

NOW WATCH: Here's what Nickelodeon slime is made of — according to 'Double Dare' host Marc Summers


          The 9 most iconic movie cars from the past decade      Comment   Translate Page      

The Gigahorse mad max

  • Iconic movie cars can be found in movies like "The Avengers," "Fast & Furious," and "Mad Max: Fury Road."
  •  
  • Here are nine famous on-screen cars from films released in the last 10 years, all of which are sure to be remembered for generations.
  • Visit BusinessInsider.com for more stories.

There's never going to be another Bond car like the 1964 Aston Martin DB5.

And the original Batmobile will always have a fond place in cinephiles' hearts, despite the fact that many subsequent Batmobile designs are, well, much cooler than the 1966 OG.

A great movie car has to have a number of qualities. It is almost always a fast car, and usually a technically advanced vehicle as well, often with many aftermarket modifications. Good movie cars have to help out the hero (or in some cases the villain) and they have to play a role in advancing the plot.

Read more: Here are the 10 most famous cars in movie history

There is no official designation of the iconic movie car, so it can be hard to know what celebrated on-film vehicles will enjoy a brief run of fame and which will long enjoy lasting veneration.

Given the movie cars from decades past that have achieved enduring fame, however, we're confident in predicting that these nine movie cars from the past 10 years will remain icons of the silver screen for many years to come.

Read on for nine of the best movie cars from the past decade.

SEE ALSO: Here are the 10 most famous cars in movie history

The Tumbler — 'The Dark Knight Rises'

Don't call it a Batmobile unless you want to upset the purists.

The rider preferred by the Caped Crusader in director Christopher Nolan's "Batman" trilogy is called a Tumbler, though that name is rather gentle for a vehicle that packs in multiple cannons and rocket launchers and that can smash through concrete walls.



The Gigahorse — 'Mad Max: Fury Road'

Paying perfect homage to the original "Road Warrior" and "Mad Max" films, the Gigahorse from 2015's "Mad Max: Fury Road" was a fearsome work of engineering, combining the bodies of two 1959 Cadillac Coupe de Villes and featuring a harpoon gun and a flamethrower.



Dodge Charger — 'Fast & Furious 4'

Without fast cars, there is no "Fast and the Furious" franchise.

In the fourth installment, 2009's "Fast & Furious," there were, fortunately, many fast cars, including a 1969 Dodge Charger R/T 426 Hemi, similar to the vehicle driven by the antagonist in arguably the most famous car chase of all time, the breakneck drive through San Francisco in the film "Bullitt."



See the rest of the story at Business Insider
          What if Trump's war on immigrants is not just cruel and lawless but is a dead end for the economy? - Salon      Comment   Translate Page      
  1. What if Trump's war on immigrants is not just cruel and lawless but is a dead end for the economy?  Salon
  2. WH spokesman: We're working with DHS, ICE to try to send undocumented immigrants to sanctuary cities | TheHill  The Hill
  3. Sarah Sanders: Sanctuary cities plan would ‘spread out’ immigration ‘burden’  POLITICO
  4. Sarah Huckabee Sanders says busing immigrants to 'sanctuary cities' is 'not our first choice,' but 'the president likes the idea'  Business Insider
  5. Sarah Sanders: Trump not wishing 'violence toward anyone' with 9/11 tweet | TheHill  The Hill
  6. View full coverage on Google News

          Conservative MPs fear May's Article 50 extension is the beginning of the end for Brexit - Business Insider      Comment   Translate Page      
  1. Conservative MPs fear May's Article 50 extension is the beginning of the end for Brexit  Business Insider
  2. Brexit cannot define us, says PM May's deputy as ratings dip  Reuters
  3. U.K. Conservative Party’s Splits Wide as Ever: Brexit Update  Bloomberg
  4. Nigel Farage has caught his second wind – trivialising his influence now will make him unstoppable  The Independent
  5. What does the rest of Europe think about our Brexit shambles?  The Guardian
  6. View full coverage on Google News

          В Facebook предложили снять Цукерберга с поста главы совета директоров      Comment   Translate Page      
Акционеры Facebook в ходе ежегодного собрания акционеров подняли вопрос о смещении Марка Цукерберга с поста главы совета директоров, передает Business Insider. По данным акционеров, этот пост должен занимать "независимый ...
          Russians hacking the GPS system to send ships bogus GNSS navigation data - Business Insider      Comment   Translate Page      
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          This is the trick airlines use to make more flights appear on time - Business Insider      Comment   Translate Page      
This is the trick airlines use to make more flights appear on time  Business Insider

According to Singapore Management University, between 1986 and 2016, the length of flights have increased by as much as 9.8 minutes.




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