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Joe Rogan endorsed former President Donald Trump hours ahead of Election Day in a Monday-evening podcast and social-media post. The influential podcaster cited the billionaire Elon Musk in his X post announcing the endorsement, saying the Tesla CEO made "the most compelling case for Trump." "The great and powerful @elonmusk. If it wasn't for him we'd be fucked," Rogan wrote. "For the record, yes, that's an endorsement of Trump," Rogan added. The endorsement accompanied a two-hour-and-40-minute podcast on which Musk appeared. The billionaire has poured millions of dollars into the <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-donald-trump-support-reflects-business-approach-tesla-2024-10">effort to elect Trump</a>. Rogan's endorsement came after <a target="_blank" class="" href="https://www.businessinsider.com/trump-joe-rogan-interview-podcast-young-male-voters-2024-10">Trump appeared on "The Joe Rogan Experience"</a> last month, a major win for the Republican candidate, who had the chance to speak directly with Rogan's more than 14 million Spotify listeners. In less than two weeks, <a target="_blank" class="" href="https://www.businessinsider.com/trump-3-hours-late-to-own-rally-joe-rogan-interview-2024-10">the three-hour conversation</a> has racked up more than 45 million views on YouTube. Trump has been working hard to win over — and mobilize — <a target="_blank" class="" href="https://www.businessinsider.com/trump-targets-young-men-theo-von-logan-paul-adin-ross-2024-8">young male voters</a>, who comprise the bulk of Rogan's listening demographic. In 2022, Rogan said he wasn't a Trump supporter, adding that he'd turned down opportunities to have the former president on his show. "I don't want to help him. I'm not interested in helping him," Rogan said at the time. Rogan said he also tried to pursue an interview with Vice President Kamala Harris, but her campaign requested he travel to conduct the conversation. "I strongly feel the best way to do it is in the studio in Austin," he said on X. "My sincere wish is to just have a nice conversation and get to know her as a human being. I really hope we can make it happen." Correction: November 5, 2024 — An earlier version of this story misstated when Trump appeared on "<keyword id="23143121" type="General" weightage="20" keywordseo="The-Joe-Rogan-Experience" source="keywords">The Joe Rogan Experience</keyword>." It was last month, not earlier this month.

Joe Rogan endorsed Donald Trump, saying Elon Musk made a 'compelling case' for the former president

<ul class="summary-list"><li>Vice President <keyword id="20307089" type="General" weightage="20" keywordseo="Kamala-Harris" source="keywords">Kamala Harris</keyword> looks set to secure the Democratic presidential nomination.</li><li>Her campaign has gained momentum with high-profile endorsements and donations from tech leaders.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-tech-issues-ai-big-tech-crypto-silicon-valley-2024-7">Vice President Kamala Harris</a> is shaking up the 2024 election. Harris looks set to secure the Democratic presidential nomination amid a burst of popularity following <a target="_blank" class="" href="https://www.businessinsider.com/joe-biden-dropping-out-presidential-race-2024-7">President Joe Biden's withdrawal from the race</a>. The <keyword id="15548" type="General" weightage="20" keywordseo="US-President" source="Orion">US President</keyword> endorsed his current vice president, and many prominent Democrats, <a target="_blank" class="c-link c-link--focus-visible" href="https://www.businessinsider.com/barack-obama-endorses-kamala-harris-for-president-after-a-delay-2024-7">including Barack Obama</a>, have followed his lead. Money has been pouring into Harris's campaign, and the vice president has already <a target="_blank" class="" href="https://www.youtube.com/watch?v=sHky_Xopyrw">begun campaigning against</a> former president <keyword id="19918985" type="General" weightage="20" keywordseo="Donald-Trump" source="keywords">Donald Trump</keyword>. While several <keyword id="19915272" type="General" weightage="20" keywordseo="Silicon-Valley" source="keywords">Silicon Valley</keyword> veterans, including former Meta exec Sheryl Sandberg, have voiced their <a target="_blank" class="" href="https://www.businessinsider.com/election-business-leaders-billionaires-backing-kamala-harris-president-2024-7">support for Harris</a>, others have spent the last few months throwing considerable weight behind Trump and his running mate <keyword id="22168234" type="General" weightage="20" keywordseo="JD-Vance" source="keywords">JD Vance</keyword>. Also read: <a href="https://www.businessinsider.in/politics/world/news/these-6-house-democrats-voted-for-gop-resolution-condemning-kamala-harriss-failure-to-secure-the-border/articleshow/112023285.cms" data-type="tilCustomLink" target="_blank">These 6 House Democrats voted for GOP resolution condemning Kamala Harris's 'failure to secure' the border</a> David Sacks, an old PayPal colleague of <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/peter-thiel-jd-vance-veep-trump-election-kingmaker-2024-7">Peter Thiel</a>, donated $1 million to a pro-Vance Super PAC, while Thiel gave $15 million to his campaign, <a target="_blank" class="" href="https://www.politico.com/news/2022/05/03/jd-vance-win-ohio-primary-00029881">Politico</a> reported. Tesla CEO <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">Elon Musk</a> has also been enthusiastic about Vance, reportedly participating in a secret lobbying campaign for the former VC. The billionaire <a target="_blank" class="" href="https://www.businessinsider.com/biden-campaign-says-musk-trying-to-control-country-with-money-2024-7">officially endorsed Trump for President after </a>an assassination attempt against him in July. With Vance by his side, Trump has been trying to woo Silicon Valley away from Biden. But with Harris at the helm, it's a whole new race. "Momentum has certainly shifted in the tech industry, and many —including myself — are now optimistic that Harris can take the reins and drive the Democratic party into the future," Aaron Levie, CEO of Box cloud company, told Business Insider. <h2>A California candidate</h2>In Harris, techies have a candidate from their home turf. Born in Oakland, Harris has served as a California senator and as the state's attorney general. She has roots and high-profile friends in the Bay Area. She reportedly attended the 2013 wedding of former Facebook president and investor <a target="_blank" href="https://www.businessinsider.com/sean-parker-life-career-napster-facebook-billionaire-pictures-2020-3">Sean Parker,</a> and her brother-in-law,<a target="_blank" href="https://www.businessinsider.com/tony-west-life-career-uber-maya-harris-kamala-harris-2020-11"> Tony West</a>, is Uber's chief legal officer. Many in the Valley view Harris as a much-needed breath of fresh air. "I have known Kamala for decades, and she's been a fighter, a leader, and an advocate for the tech ecosystem," Silicon Valley "super angel" investor Ron Conway <a target="_blank" class="" href="https://x.com/RonConway/status/1815466335612399778">said </a>in an X post calling on the tech community rally around Harris. Chiente Hsu, cofounder and CEO of bitcoin platform ALEX, told BI that Harris is "generally viewed more favorably among tech leaders" than Biden. She cited Harris' closer ties to the tech community and favorable stance toward innovation for the renewed enthusiasm. Harris has also shown a willingness to take on Big Tech when needed. During her time as attorney general, she tackled issues such as the distribution of explicit content on social media platforms, <a target="_blank" class="" href="https://www.politico.com/magazine/story/2019/02/01/kamala-harris-porn-california-attorney-general-facebook-twitter-silicon-valley-224534/">with a particular focus on "revenge porn."</a> During the Biden Administration, Harris played an active role in AI regulation. She's <a target="_blank" class="editor-rtfLink" href="https://www.whitehouse.gov/briefing-room/speeches-remarks/2023/11/01/remarks-by-vice-president-harris-on-the-future-of-artificial-intelligence-london-united-kingdom/">previously stated</a> she rejects the "false choice that suggests we can either protect the public, or advance innovation." "Her work on tech-related legal issues and proactive stance on innovation further bolster her reputation," Hsu said. "Harris has been vocal about the need for ethical AI development and robust oversight of Big Tech, reflecting a nuanced approach to tech regulation." <h2>A lucrative opportunity</h2>Several business elites have already expressed their support for Harris. Some, like Netflix's cofounder Reed Hastings, have been putting their money where their mouth is with <a target="_blank" class="" href="https://www.businessinsider.com/reed-hastings-all-in-on-kamala-harris-7-million-donation-2024-7">hefty donations.</a> If Harris does win over tech executives, it could mean significant financial contributions and strategic support. Levie said Harris represented a "unique opportunity" for the Democratic Party to position itself as pro-tech, pro-AI, and pro-science. "Biden stepping down and the party aligning around Harris has reenergized the community, and many who were previously neutral are now excited about the direction Harris can drive," he said. Harris's stance on some tech issues is still a bit uncertain. Notably, the vice president hasn't taken a strong stance on cryptocurrency, but some expect her to become more pro-crypto than Biden. The Biden administration has been increasing its scrutiny of the sector following the collapse of FTX in 2022. Meanwhile, with support from pro-crypto running mate JD Vance, Trump has announced he plans to be the first <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/trump-bitcoin-cryptocurrency-election-outlook-crypto-funding-regulation-biden-novogratz-2024-7#:~:text=Donald%20Trump%20was%20not%20always,Trump%20trade%2C%22%20Bernstein%20said.">"crypto president."</a> Nigel Green, CEO of financial services company deVere Group, previously told BI that Harris's views "reflect a cautious approach" to the sector. However, he said he expected Harris to become more pro-crypto to compete effectively with Donald Trump. "This regulatory clarity could bring greater legitimacy to the industry, potentially attracting more institutional investors and mainstream adoption," he added.

Kamala Harris has a golden opportunity to pull Silicon Valley away from Trump and Vance

The vulnerable GOP congressman convinced that economic interest voters will save him from the Trump and abortion backlash

<ul class="summary-list"><li>Donald Trump is yet to announce his pick for Treasury Secretary.</li><li>Names in the frame include Scott Bessent, Howard Lutnick, Marc Rowan, and Kevin Warsh.</li></ul>After announcing a swathe of names for his Cabinet, president-elect Donald Trump appears to be conducting auditions for his <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-trump-lutnick-treasury-secretary-bessent-2024-11">Treasury Secretary</a>.Figures in the frame include Scott Bessent, the founder of Key Square Capital Management; Howard Lutnick, the CEO of Cantor Fitzgerald; Marc Rowan, the Apollo Global Management cofounder; and Kevin Warsh, a former governor of the Federal Reserve Board.Here's some of the best commentary we've seen about the race to be the next Treasury Secretary.<h2 id="ae4b6c87-26a6-4e33-8ebf-b45e9babbffa">The New York Times DealBook newsletter</h2><h2 id="3d1cf5aa-5b7d-4e4d-96ee-6793db22c7d5"><a target="_blank" class="" href="https://x.com/Jkylebass/status/1857794067251298541">Kyle Bass</a>, chief investment officer of Hayman Capital Management, on X</h2><h2 id="d9877d8e-25ac-4ef8-8713-1b59b57c9fb3">The Wall Street Journal Editorial Board — <a target="_blank" class="" href="https://www.wsj.com/opinion/disruption-wont-work-at-treasury-trump-nomination-musk-63c5b8f9">'Disruption Won't Work at Treasury'</a></h2><h2 id="8b031c32-dd8c-499c-947e-7025201d570d">Mike Allen, Axios cofounder, on <a target="_blank" class="" href="https://www.cnbc.com/video/2024/11/18/new-treasury-secretarys-number-one-job-will-be-reassuring-the-markets-says-axios-mike-allen.html">CNBC</a></h2><h2 id="e06aa875-8c1b-4294-b272-8d54a101d0be">Ian Bremmer, Eurasia Group founder, told BI:</h2><h2 id="5ae024d8-3102-40b1-a230-50772299c96d">The Economist — <a target="_blank" class="" href="https://www.economist.com/united-states/2024/11/16/howard-lutnick-donald-trumps-resilient-transition-chief">'Howard Lutnick, Donald Trump's resilient transition chief'</a></h2><h2 id="562ada01-796e-4318-925e-7743f2c8fa55">Bloomberg Editorial Board — <a target="_blank" class="" href="https://www.bloomberg.com/opinion/articles/2024-11-14/donald-trump-s-nominees-suggest-familiar-chaos?srnd=opinion">'Trump's Nominees Suggest Familiar Chaos'</a></h2><h2 id="4ba2f401-897a-4adc-8768-3322644452e9"><a target="_blank" class="css-175oi2r r-1wbh5a2 r-dnmrzs r-1ny4l3l r-1loqt21" href="https://x.com/JStein_WaPo">Jeff Stein,</a> The Washington Post economics reporter, on X</h2>

Trump's Treasury Secretary: The best commentary about who the president-elect should nominate

Global markets are looking ahead to the US Fed's meeting scheduled for Thursday, November 7, 2024, expecting the Jerome Powell-chaired FOMC (Federal Open Market Committee) to slash interest rates further by 0.25%. In September this year, the Fed surprised the markets by cutting interest rates by a massive 0.5%, for the first time in 4 years. As per the <keyword id="23807624" type="General" weightage="20" keywordseo="CME-Fed-Watch-Tool" source="keywords">CME Fed Watch Tool</keyword>, there is now a 99.5% chance that the Fed will reduce the interest rates by around 25 basis points, bringing it within the range of 4.5% to 4.75%. Only 0.5% believe that the Fed might leave the rates unchanged, within their present range of 4.75% to 5%. As for the Fed's December meeting, scheduled for December 18, per the CME Fed Watch tool, 79.5% believe that interest rates would be in the range of 4.25% to 4.5%. Another 20.4% believe that yields will remain in the range of 4.5% and 4.75%. Only 0.1% see the interest rates staying within their current range of 4.75% to 5% <h2>No major changes anticipated</h2>However, it is unlikely that this quarter-point rate cut would bring about any significant financial changes in the US economy. The Fed is again expected to bring down the interest rates by another 25 basis points in their December meeting. This would imply a total rate cut of about 50 basis points by the end of this year. So, why is the Fed not bringing down interest rates by 50 basis points in one fell swoop this time around? Why wait till December to bring down the rates by another 25 basis points? Experts believe that it could stoke inflation, which has seen a sharp decline in the recent past. A steep slash of borrowing rates could accelerate borrowing activity and inject significant cash into the economy at once, pushing up inflation. Per the Fed's recent projections, a total of 4 rate cuts are anticipated in 2025. On a YoY basis, inflation in the US dipped to 2.4%, close to the Fed's target of 2%. With inflationary pressures reined in, the economy growing at the rate of 2.8% during the third quarter of FY24, and the unemployment rate down to 4.1%, the markets see much merit in bringing interest rates down. This is especially important to boost spending, particularly in sectors such as housing and automobiles, where even a slight tinkering in interest rates can drastically impact the amount and volume of loans taken to own them. Data suggests that during Trump's presidency tenure, i.e., between 2017 and 2021, inflation averaged at a rate of 1.9% a year. During the Biden administration, where Kamala Harris served as VP, the inflation is on track to average around 5% a year. Shrisha Acharya, Vice President, Anand Rathi Global Finance, also notes that the results of the impending US elections, which are likely to be declared tomorrow, will impact the yields and stock markets. "The Trump card, coupled with potential Republican control, could mean higher bond yields due to anticipated increases in deficit spending, inflation risks, and potential tax cuts. This could very well jiggle the confidence in U.S. Treasury bonds and thus start a chain effect that will possibly impact global market stability and lead to short-term volatility. On the other hand, Harris’ rise has been met with a stock market rally glued on expectations of economic stability and controlled inflation, with more predictable fiscal policy likely to help in a soft landing," he explains.

What can you expect from the US Fed meeting later this week? Here's all you need to know

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Welcome back! Yes, there is such a thing as a "Vape Phone." And yes, <a target="_blank" href="https://www.businessinsider.com/vape-phone-swype-replace-smartphone-dumb-phone-iphone-review-2024-7">we did try it out</a>.In today's big story, President Joe Biden <a target="_blank" href="https://www.businessinsider.com/joe-biden-dropping-out-presidential-race-2024-7">ended his reelection bid</a>. Here's what <a target="_blank" href="https://www.businessinsider.com/joe-biden-dropping-out-what-happens-next-2024-7">happens next</a>.What's on deck:<ul><li>Markets: Some alternatives to high-yield savings accounts <a target="_blank" href="https://www.businessinsider.com/financial-planner-what-to-do-when-interest-rates-drop-2024-7">for when interest rates drop</a>.</li><li>Tech: Why Marc Andreessen's argument about Trump benefiting "Little Tech" <a target="_blank" href="https://www.businessinsider.com/marc-andreessens-endorsement-donald-trump-tech-industry-silicon-valley-2024-7">doesn't add up</a>.</li><li>Business: The era of working multiple jobs is <a target="_blank" href="https://www.businessinsider.com/end-remote-work-could-hurt-overemployed-workers-job-jugglers-2024-7">coming to an end</a>.</li></ul>But first, I'm calling it quits.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097">Biden bows out</h2><div type="image" title="biden" height="880" width="1176" msid="111934829" hostid="261" sizebytes="74714"></div>Joe Biden has had enough.The president <a target="_blank" href="https://www.businessinsider.com/joe-biden-dropping-out-presidential-race-2024-7">ended his reelection campaign</a> on Sunday, the culmination of mounting pressure from his party after a disastrous debate last month.In a letter posted <a target="_blank" href="https://www.businessinsider.com/read-bidens-letter-message-announcing-he-quit-race-2024-7">on social media</a>, Biden wrote he believed it was "in the best interest of my party and the country" to exit the race and "focus solely on fulfilling my duties as President for the remainder of my term."He said he would speak to the country later this week about his decision, but didn't provide more details.Reactions about the news from <a target="_blank" rel="noopener" href="https://www.businessinsider.com/business-leaders-billionaires-respond-biden-drops-out-elon-musk-2024-7">business leaders like Elon Musk and Reid Hoffman</a> ranged from criticism of the Democratic party to praise for Biden. Meanwhile, former President Donald Trump said <a target="_blank" rel="noopener" href="https://www.businessinsider.com/trump-reaction-biden-drops-out-of-election-truth-social-2024-7">in a post on Truth Social</a> that "Crooked Joe Biden was not fit to run for President."Biden's decision partially ends what has been a chaotic few weeks for his party. Democrats have argued — initially behind closed doors <a target="_blank" href="https://www.businessinsider.com/chuck-schumer-hakeem-jeffries-democratic-leaders-biden-drop-out-2024-7">and then publicly</a> — over whether the president was their best choice amid concerns over his age.Biden's departure from the race came with an endorsement: <a target="_blank" href="https://www.businessinsider.com/joe-biden-endorses-kamala-harris-after-dropping-out-2024-7">Vice President Kamala Harris</a>. The choice has long been viewed as the most straightforward pick for the party <a target="_blank" href="https://www.businessinsider.com/democrats-replacing-biden-with-harris-for-campaign-funds-2024-7">due in part to campaign finance laws</a>.Harris said she was "honored" to have the endorsement and intended to "<a target="_blank" rel="noopener" href="https://www.businessinsider.com/kamala-harris-wants-to-unite-democratic-party-defeat-trump-biden-2024-7">earn and win this nomination</a>."<div type="image" title="kamala harris" height="544" width="1122" msid="111934834" hostid="261" sizebytes="15086"></div>Harris hasn't wasted time trying to secure the nomination.Biden's reelection campaign has quickly pivoted to serve Harris, making it an uphill battle for any Democrat <a target="_blank" href="https://www.businessinsider.com/kamala-harris-presidential-campaign-strength-biden-announcement-future-election-2024-7">looking to challenge her</a>, writes Business Insider's Brent D. Griffiths. Plenty of Democrats have already followed Biden in <a target="_blank" href="https://www.businessinsider.com/democrats-endorsing-kamala-harris-to-replace-joe-biden-2024-7">endorsing Harris</a>, including <a target="_blank" href="https://www.businessinsider.com/bill-hillary-clinton-endorse-kamala-harris-president-trump-election-2024-7">Bill and Hillary Clinton</a>.But even if Harris seems like a shoo-in for the ticket, the past few weeks have taught us to expect the unexpected in Washington.With the party's convention scheduled from August 19-22 in Chicago, BI's Bryan Metzger has a breakdown of <a target="_blank" href="https://www.businessinsider.com/joe-biden-dropping-out-what-happens-next-2024-7">how the next few weeks could shake out</a>. An open convention could mean a <a target="_blank" href="https://www.businessinsider.com/biden-reelection-democrats-harris-newsom-whitmer-klobuchar-booker-cooper-moore-2024-2">wide array of candidates</a> throw their hats in the ring.Many have made comparisons to <a target="_blank" href="https://www.businessinsider.com/what-if-biden-ends-his-reelection-bid-1968-dnc-2024-2">the 1968 Democratic convention</a>, which was a contested convention after President Lyndon B. Johnson ended his reelection campaign earlier that year.Coincidentally, that convention also took place in Chicago, and Hubert Humphrey, Johnson's vice president, secured the nomination. However, Humphrey lost to Richard Nixon by 110 electoral votes in the general election.Democrats could <a target="_blank" href="https://www.businessinsider.com/joe-biden-should-not-drop-out-election-prediction-allan-lichtman-2024-7">ultimately face the same fate</a>, but moving on from Biden was their best chance at <a target="_blank" href="https://www.businessinsider.com/democrats-may-still-lose-biden-stepping-aside-was-best-option-2024-7">shaking up a race they were falling behind in</a>, writes Brent.Here's the latest news in the wake of Biden's announcement:<ul><li><a target="_blank" href="https://www.businessinsider.com/inside-life-and-career-of-kamala-harris-bidens-vp-pick-2020-8">Meet Kamala Harris, America's vice president who Joe Biden endorsed after dropping out of the race</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/democratic-fundraising-after-biden-dropped-out-2024-7">Biden drops out and the money comes rolling in</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/what-are-kamala-harris-policy-stances-issues-2024-7">Here's where Kamala Harris stands on the issues, from the economy to healthcare</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/names-floated-kamala-harriss-veep-if-biden-drops-out-election-2024-7">The names being floated as Kamala Harris' running mate now that Biden has dropped out</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/trump-kamala-harris-attack-ads-2024-7">Trump's allies had attack ads aimed at Kamala Harris at the ready</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/biden-pelosi-lord-almighty-step-aside-election-2024-7">Biden said only the 'Lord Almighty' could get him to exit the presidential race. Then came Nancy Pelosi</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/joe-biden-campaign-funds-after-he-dropped-out-2024-7">What happens with Biden's war chest now that he's dropped out?</a></li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="Black and white headshot of Andy Sieg wearing a suit and smiling" height="1000" width="2000" msid="111934828" hostid="261" sizebytes="25324"></div><ol><li>Citi Wealth exodus continues. More than a dozen bankers from the bank's workplace-wealth group, which serves rich lawyers, <a target="_blank" href="https://www.businessinsider.com/citi-law-group-wealth-at-work-exits-joe-ryan-andy-sieg-2024-7">left for Bank of Montreal</a>. Wealth boss Andy Sieg was undeterred in an internal memo, stating the group was still the "clear market leader — full stop."</li><li>Warren Buffett's go-to market indicator isn't looking great. The Buffett Indicator, which measures the total US market cap to GDP, hit an all-time peak of 200% on Monday. Years ago, Buffett said if the ratio approaches 200%, "<a target="_blank" href="https://markets.businessinsider.com/news/stocks/warren-buffett-valuation-signal-flashes-warning-market-cap-gdp-ratio-2024-7">you are playing with fire</a>."</li><li>When interest rates drop, where should you put your cash? The silver lining of the Fed's rate policy has been high-yield savings accounts, but a rate cut will make those less appealing. A financial planner <a target="_blank" href="https://www.businessinsider.com/financial-planner-what-to-do-when-interest-rates-drop-2024-7">made some suggestions for alternatives</a>. (But don't rush it!)</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="Collage featuring a large photo of Donald Trump towering over a smaller photo of Marc Andreessen" height="1500" width="2000" msid="111934833" hostid="261" sizebytes="99898"></div><ol><li>Big Tech's phony Trumpism. Famed tech investor Marc Andreessen broke a pattern of longtime Democratic presidential support when he announced he'd be backing Donald Trump this year. Andreessen says a second Trump administration would further a "Little Tech" agenda he favors. But <a target="_blank" href="https://www.businessinsider.com/marc-andreessens-endorsement-donald-trump-tech-industry-silicon-valley-2024-7">that argument doesn't make much sense</a>, BI's Adam Rogers writes.</li><li>Turn off those auto-updates. After a massive IT outage disrupted grocery stores, banks, and airport operations around the globe, IT professionals bemoaned the simple way it could've all been avoided: <a target="_blank" href="https://www.businessinsider.com/why-you-should-turn-off-auto-updates-crowdstrike-outage-microsoft-2024-7">disabling auto-updates</a>.</li><li>To make them safer, OpenAI wants chatbots to chat with each other. Sam Altman's company <a target="_blank" href="https://www.businessinsider.com/openai-new-safety-hack-ai-models-policing-each-other-2024-7">recently unveiled its new technique</a> for getting chatbots to reveal their thought processes: having them converse. It's part of a safety initiative in the wake of several high-profile departures from OpenAI's safety team earlier this year.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="man sitting on beach" height="832" width="1114" msid="111934831" hostid="261" sizebytes="20984"></div><ol><li>The sun is setting on overemployment. Some Americans doubled their income by secretly working multiple remote jobs, which helped them save up, pay debts, or make savvy investments. But with return-to-office mandates and hiring slowdowns, they're bracing for <a target="_blank" href="https://www.businessinsider.com/end-remote-work-could-hurt-overemployed-workers-job-jugglers-2024-7">a future without the extra paychecks</a>.</li><li>Some pandemic boom towns could see big home-buying chances. Though the housing market is infamously unaffordable, the Southern real estate market is on the verge of a major opportunity for buyers. A real estate analyst explained why <a target="_blank" href="https://www.businessinsider.com/real-estate-home-prices-correction-housing-market-buying-a-house-2024-7">home prices in the South could see double-digit declines</a> in the next few years.</li><li>Is tipping culture getting out of hand? Tipping is creeping into more and more aspects of daily life, and not everyone's buying into it. Two people told BI why they're <a target="_blank" href="https://www.businessinsider.com/should-you-tip-restaurant-servers-drivers-rideshare-taxi-nail-salons-2024-7">resisting the tipping ubiquity</a> — and shared the places where they think it's still appropriate.</li></ol>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Annie Smith, associate producer, in London. Amanda Yen, fellow, in New York.

President Joe Biden ended his reelection bid. What's next?

<ul class="summary-list"><li>Hamas carried out a devastating attack on <keyword id="19900599" type="General" weightage="100" keywordseo="israel" source="keywords">Israel</keyword> one year ago, killing about 1,200 people.</li><li>The terror attack has helped push the Middle East to the brink of a wider regional war.</li></ul>On the early morning of October 7, 2023, air raid sirens began blaring in Israel, warning its citizens that an attack was in progress. Hamas, a militant group much of the West has designated a terrorist organization, launched a highly coordinated strike that the Israel Defense Forces would later say killed about 1,200 people. One year after the massacre, the Middle East has only plunged deeper into violence and is on the brink of a broader war. Paths to de-escalation, largely facilitated by the US, have repeatedly failed. And Israel appears to be inching closer to a direct conflict with Iran, a grim prospect that has been avoided for years as the two countries limited their fight to proxies in a shadow war. The results of the yearlong conflict, with origins that date back decades, have been costly for both Israel and the Iranian-led "Axis of Resistance," noted Chuck Freilich, a former deputy national security advisor who served for over 20 years in Israel's security establishment. "Israel has turned the tide and has the Axis of Resistance on the defensive. Hamas has been defeated militarily, though not politically, and remains in political control in Gaza," Freilich told Business Insider, adding that Iran had come to be in a vulnerable position. "Conversely, Israel was in the midst of a multi-front war which may result in significant damage to its homefront and is deeply isolated in the world," he added. <h2>A year of bloodshed</h2>Israel's response to Hamas' attack on October 7 was a massive bombardment campaign and later ground incursion in Gaza, which Palestinian authorities say have left about 42,000 people dead. Amid the early stages of that campaign, the first high-profile <a target="_blank" class="" href="https://apnews.com/article/yemen-navy-warship-missiles-intercepted-2f5fc9c8a3737f762b29d5c53ec08a5b">expansion of the greater conflict blew open in late October,</a> when Yemen's Houthi rebels <a target="_blank" class="" href="https://www.businessinsider.com/israel-iran-idf-houthi-rebels-hijack-ship-red-sea-2023-11">began attacking commercial ships</a> seeking passage through the Suez Canal and the Gulf of Aden. The Houthis, historically backed and armed by Iran, said they were declaring a show of support for Hamas by attacking ships linked to Israel, though they were often found to have used drones, missiles, and raiding parties to harass vessels with no direct relation to it. <div type="image" title="Houthi supporters in Yemen brandish rifles and Yemeni and Palestinian flags in July." height="3840" width="5760" msid="114014767" hostid="261"></div>With the <a target="_blank" class="" href="https://www.businessinsider.com/who-are-houthis-yemen-rebels-attacking-ships-red-sea-2024-1">Houthi attacks</a> threatening to close off a vital international shipping lane, the US and its allies and partners established a heavy military presence in the Red Sea to fend off the rebels. January saw the West's most direct and overt military involvement in the conflict, when the US, UK, and their allies <a target="_blank" class="" href="https://www.businessinsider.com/us-launches-strikes-houthis-following-shipping-attacks-2024-1">barraged Houthi targets</a> with airborne, surface, and subsurface-launched strikes after <a target="_blank" class="" href="https://www.businessinsider.com/us-launches-strikes-houthis-following-shipping-attacks-2024-1">warning the rebels repeatedly</a> to cease their attacks. The campaign has dragged on for almost a year with <a target="_blank" class="" href="https://www.businessinsider.com/why-the-west-cant-stop-houthi-missile-attacks-on-ships-2024-1">no end in sight</a>, and the US has been <a target="_blank" class="" href="https://www.businessinsider.com/us-navy-aircraft-carrier-left-middle-east-ending-show-force-2024-9">rotating multiple aircraft carrier groups</a> into the region while carrying out further strikes on Houthi territory. To the north, Syria became the site of further conflict in April, when Israel launched a <a href="https://www.businessinsider.com/deadly-israeli-strike-syria-could-put-us-forces-crosshairs-iran-2024-4" target="_blank">strike on the Iranian Consulate in Damascus</a>, killing several senior officials of Iran's Islamic Revolutionary Guard Corps, including two generals. Farzin Nadimi, a senior fellow at The Washington Institute for Near East Policy, previously told BI that the strike was significant because it was the "first time Israel struck an official Iranian government-affiliated site with high-ranking people inside." <div type="image" title="Iranian Foreign Minister Hossein Amir-Abdollahian, Syrian Foreign Minister Faisal Mekdad, and other officials check the site of Israeli attack on Iran consulate in Damascus in April," height="2080" width="3040" msid="114014764" hostid="261"></div>Iran followed up with a <a target="_blank" class="" href="https://www.businessinsider.com/us-forces-destroyed-iran-missiles-drones-massive-air-defense-battle-2024-4">long-range attack on Israel at an unprecedented scale</a>, launching what Israeli authorities said were 170 attack drones, 120 ballistic missiles, and 30 cruise missiles — almost all of which were intercepted. Israel then responded with its<a target="_blank" class="" href="https://www.businessinsider.com/explosion-heard-in-iran-according-to-state-media-2024-4"> own strikes on multiple cities in Iran</a>. And in July, <a target="_blank" class="" href="https://www.businessinsider.com/ismail-haniyeh-top-hamas-leader-killed-in-iran-2024-7">Ismail Haniyeh</a>, the political leader of Hamas, was killed just after he attended the swearing-in of Iran's new president. <keyword id="20394829" type="General" weightage="20" keywordseo="haniyeh" source="keywords">Haniyeh</keyword> was widely reported to have been killed by a <a target="_blank" class="" href="https://www.nytimes.com/2024/08/01/world/middleeast/how-hamas-leader-haniyeh-killed-iran-bomb.html?smid=tw-share">remotely detonated explosive device</a> that was planted months before his death in a guesthouse he was using in Tehran. Israel also claimed responsibility that week for <a href="https://www.businessinsider.com/israel-tried-killing-top-hezbollah-commander-beirut-with-us-bounty-2024-7" target="_blank">killing the Hezbollah commander Fuad Shukr</a>, a senior advisor to the Lebanese militant organization's top leader, Hassan <keyword id="20081934" type="General" weightage="20" keywordseo="nasrallah" source="keywords">Nasrallah</keyword>, via an air-launched strike in Beirut. <div type="image" title="A billboard in Beirut. depicts Ismail Haniyeh, Qasem Soleimani, and Fuad Shukr." height="3067" width="4600" msid="114014762" hostid="261"></div>Meanwhile, Hezbollah, a longtime enemy of Israel, has been <a target="_blank" class="" href="https://www.businessinsider.com/hezbollah-lebanon-israeli-positions-gaza-hamas-2023-10">exchanging fire</a> with Israel on its southern border since the October 7 attack, forcing hundreds of thousands of civilians on both sides to flee. In one of the most dramatic attacks the region has yet seen, <a target="_blank" class="" href="https://www.businessinsider.com/iran-backed-hezbollah-members-hurt-after-pagers-just-weirdly-exploded-2024-9">thousands of pagers and communication devices</a> used by Hezbollah detonated in September, injuring more than 2,800 people and killing at least eight. Mossad, Israel's spy agency, is widely believed to have orchestrated the attack by <a target="_blank" class="" href="https://www.businessinsider.com/hezbollah-pagers-had-dark-feature-made-them-more-gruesome-2024-10">planting explosives inside the devices</a> before they were distributed, but Israel has not claimed responsibility. <div type="image" title="This picture shows a fire that emerged after an Israeli bombardment in south Lebanon." height="1588" width="2408" msid="114014770" hostid="261"></div>Later in September, <a href="https://www.businessinsider.com/who-was-hassan-nasrallah-the-hezbollah-leader-killed-by-israel-2024-9" target="_blank">Israel launched a strike</a> that killed Nasrallah at Hezbollah's headquarters in Beirut, bringing an end to his 32-year leadership of the militant group. Then, at the start of this month Israel began what it called a <a href="https://www.businessinsider.com/israel-launches-ground-offensive-into-lebanon-destroy-hezbollah-targets-2024-9" target="_blank">limited ground incursion into Lebanon</a>, saying it sought to dismantle Hezbollah's positions and artillery in the south. Iran moved soon after to launch a second major attack on Israel. Tehran is reported to have fired about 200 missiles, including its <a href="https://www.businessinsider.com/iran-used-one-of-most-advanced-missiles-massive-israel-attack-2024-10" target="_blank">advanced Fattah missile</a> capable of reaching speeds of Mach 5. It's unclear whether Israel might expand its scope in Lebanon, where it faces difficult terrain and Hezbollah troops who have had years to embed and prepare. Lebanon's health ministry has said more than 2,000 people have been killed so far in the ensuing strikes and raids. Tehran is reported to have fired about 200 missiles at Israel on October 2, including its <a target="_blank" class="" href="https://www.businessinsider.com/iran-used-one-of-most-advanced-missiles-massive-israel-attack-2024-10">advanced Fattah missile</a> capable of reaching speeds of Mach-5. <h2>Escalations don't bode well for the Middle East</h2>History shows there's little chance that Israel will let that attack pass without a response, as Israel's Prime Minister Benjamin <keyword id="19934489" type="General" weightage="20" keywordseo="netanyahu" source="keywords">Netanyahu</keyword> indicated in <a target="_blank" class="" href="https://www.youtube.com/watch?v=iUSI5tQuXys">a speech to the United Nations General Assembly</a> on September 27. "If you strike us, we will strike you. There is no place in Iran that the long arm of Israel cannot reach, and that's true of the entire Middle East," he said. Meanwhile, last month saw<a target="_blank" class="" href="https://www.businessinsider.com/israel-fed-up-massive-protest-strike-demanding-gaza-deal-hostages-2024-9"> hundreds of thousands of Israeli protesters</a> rallying against Netanyahu's failure to secure some sort of cease-fire deal that could lead to the release of the hostages remaining in Gaza after the attack one year ago. Gili Roman, whose sister was kidnapped on October 7 and later released and whose relative Carmel Gat was among the six slain hostages recovered by the IDF in early September, told BI last month that Netanyahu and his government were "prioritizing themselves" over the hostages. The anticipation of yet another cycle of escalating retaliation has set the world on edge, amid fears that an all-out war between Iran and Israel will destabilize the entire region. Globally, the immediate concern is that oil supplies will diminish significantly should conflict spill over to the rest of the Middle East. Last week, Citigroup analysts estimated that a major strike on Iranian oil infrastructure could reduce global oil supplies by <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-10-02/latest-oil-market-news-and-analysis-for-oct-3">1.5 million barrels per day.</a> <h2>Israel ignores US red lines</h2>US President <keyword id="19919748" type="General" weightage="20" keywordseo="joe-biden" source="keywords">Joe Biden</keyword> has for a year been trying to avoid the war growing into a wider regional conflict that could pull in the US and other world powers. He has repeatedly sought to broker a cease-fire in Gaza, organize more humanitarian support for civilians, and limit Israel's campaign. But Netanyahu has repeatedly ignored Biden's red lines and has continued to push forward against Hamas even as the civilian death toll spiraled and international opposition to Israel's campaign mounted. The US has also helped shield Israel against Iranian missile attacks sparked by the April killings and recent attacks on Hezbollah, and has positioned troops in the area to deter further Iranian aggression, while also seeking to tamp down the conflict. Meanwhile, as Israel intensified its attacks against Hezbollah two weeks ago, the US announced that it had brokered a possible cease-fire agreement — only for Israel to assassinate Nasrallah one day later. Critics of US policy believe that Netanyahu is acting in his own self-interest to try to hold together his fragile coalition government, whose far-right members support intensifying the war against Iran and its allies. "Netanyahu doesn't care about his friendship with Biden, or even about Israel's dependence on the United States. He cares only about his near-term political interests. Everyone but Biden can see this," wrote Andrew Exum, a former US deputy assistant secretary of defense for Middle East policy, <a target="_blank" class="" href="https://www.theatlantic.com/international/archive/2024/10/israel-war-biden-iran/680155/">in The Atlantic</a> last week. <h2>The global economy on edge</h2>When the conflict began a year ago, there were fears that wider conflict in the Middle East could impact the global economy. Oil prices did rise in the days after the October 7 attacks and Brent crude peaked above $92 a barrel later that month, but then started declining to about $73 in mid-December. In contrast, oil hit about $130 a barrel after <keyword id="19900702" type="General" weightage="20" keywordseo="vladimir-putin" source="keywords">Vladimir Putin</keyword> invaded Ukraine in February 2022. However, experts recently told Business Insider that a wider war in the region could <a target="_blank" href="https://www.businessinsider.com/global-economy-israel-iran-war-oil-growth-inflation-hurricane-china-2024-10">choke global economic growth and reignite inflation</a>. The Bank of Israel estimated in May that the costs arising from the war would total about $66 billion through the end of next year — equivalent to roughly 12% of Israel's GDP, <a target="_blank" href="https://www.reuters.com/world/middle-east/year-war-creates-cracks-israels-borrowing-strength-2024-10-06/">according to Reuters</a>. And in June, <a target="_blank" href="https://www.imf.org/en/Blogs/Articles/2024/06/05/scars-of-conflict-are-deeper-and-longer-lasting-in-middle-east-and-central-asia">the IMF noted</a> that the long-term economic effects of severe conflict on real GDP per capita in the Middle East were particularly pronounced, compared to other regions. It said that countries in the Middle East can expect to experience a roughly 10% decline in real GDP per capita a decade after the onset of a conflict, compared to pre-conflict levels. Correction: October 7, 2024 — An earlier version of this story misstated when Israel launched its strike that killed Hassan Nasrallah. That attack took place before Israel's ground incursion into Lebanon, not after, and the subsequent Iranian missile strike came soon after the Israeli ground assault, not hours after Nasrallah's killing. The story also misspelled the name of the former deputy national security advisor in Israel. He is Chuck Freilich, not Chuck Frielich.

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