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<div type="image" title="Companies are embracing the unbossing trend" msid="113256383" hostid="261" sizebytes="1440779"></div> If there’s one thing both a productive team member and an underperformer hates in the corporate world, it’s being micromanaged. Now, imagine a workplace where the boss isn’t calling all the shots. Instead, everyone has a voice, and innovation flows freely. The recent corporate trend of "Unbossing" promises to do just that, empowering employees by eliminating the heavy hands of hierarchy. Sounds too good to be true? Well, globally, not just the new-age start-ups, but dozens of major corporations have embraced this trend and trimmed their middle management. <h2>Managers managing managers — no more!</h2>In January last year, <keyword id="399907" type="General" weightage="20" keywordseo="META" source="Orion">Meta</keyword> CEO Mark Zuckerberg made headlines for declaring 2023 as the “year of efficiency” and saying that he doesn’t want a management structure that's just “managers managing managers”. <div type="image" title="Meta CEO Mark Zuckerberg" agency="ANI" msid="113256403" hostid="261"></div> The same month, it was also reported by Command Line that <keyword id="399907" type="General" weightage="20" keywordseo="META" source="Orion">Meta</keyword>'s chief product officer Chris Cox, had shared a post on the company's communication platform, Workplace, highlighting the necessity to "flatten" the organisation's structure. What followed was reports of Meta slashing middle management roles. Gradually, other companies like Shopify, Bayer, and Cisco began making headlines for showing the exit door to some of their middle managers. Loosely, unbossing is essentially cutting down the middle management roles. It cuts significant costs for the company and the new-age workforce also endorses the trend as efficient in enabling faster decision-making and innovation. However, critics argue this trend also limits the extent of mentorship that the younger generation receives while entering the workforce, which often remains an intangible value if your boss turns out to be a good mentor. Therefore, for some, it’s not about firing the middle management, but just another leadership philosophy on how leaders (and ‘bosses’) should conduct themselves. This approach advocates bosses working along with the team as a part rather than shouting instructions from the top. Whatever one’s understanding, this trend of “Unbossing” appears to be taking corporate America by storm in 2023, as evidenced by hundreds of media reports highlighting the same. Overall, most agree that the trend is restructuring organisational hierarchy to enable direct communication between employees and leaders. Cut to 2024, this trend is still prevalent and making headlines. A Bloomberg report recently said that Georges Elhedery, the incoming CEO of HSBC Holdings, might also consider plans to streamline the company's operations by reducing layers of middle management. But what’s the scenario in India? Are Indian companies ready to ditch the old-school approach and adopt this new way of working? Let’s dive in and see what the experts have to say! <h2>Layoffs to impact senior professionals: Naukri.com survey</h2>A survey by job portal Naukri.com early last year had suggested that recruiters in India expect a decline in layoffs during the first half of 2023. The survey, which included responses from 1,400 recruiters and consultants across ten industries, revealed that only 4 percent of participants anticipated layoffs to be the main focus of hiring activities within their organisations. However, the survey also highlighted that information technology roles and senior professionals were likely to be the most affected by hiring adjustments. About 20 percent of recruiters predicted that layoffs would predominantly impact senior professionals, while freshers are expected to face the least disruption from these hiring corrections. Interestingly the survey came around the same time when the Unbossing trend had begun picking up pace abroad. <h2>Layoffs at Wipro, <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> and Collegedunia</h2>In January this year, Wipro India was in the limelight for laying off hundreds of its mid-level executives. The company reportedly culled many jobs as part of its strategy to improve margins. An ET report citing two sources familiar with the situation had said that the leading Indian IT firm reduced mid-level roles at its onsite locations. "Notices began being issued earlier this month, and hundreds of mid-level executives onsite are being let go," one source revealed. Another source added, "They have costly resources onsite in Capco, and although growth is returning, it's not sufficient. Aparna Iyer, Wipro's chief financial officer, has been tasked with delivering better margins this quarter." <div type="image" title="Amazon decided to lay-off middle managers in May" msid="113256170" hostid="261"></div>Then in May, <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> also decided to reduce layers of middle management within its customer service divisions as part of an organisational restructuring, a Fortune report had said. The cuts impacted over 100 customer service managers in Level 5 and Level 6 middle management roles, both in call centres and virtual positions, primarily based in the U.S. and India. Not just large tech companies, startups too seem to be adapting the <keyword id="23125775" type="General" weightage="100" keywordseo="unbossing-trend-in-India" source="Orion">unbossing trend in India</keyword>. Last month, educational portal Collegedunia confirmed that around 100 employees from its Study Abroad department had been given the pink slip. A report in CNBC-TV18 had said that additional job cuts were happening across other departments as part of a broader reorganisation. The restructuring, as per the report, was aimed at automating many tasks to reduce costs. Interestingly, despite the layoffs, Collegedunia had posted 13 job openings on LinkedIn for various roles in different locations, primarily entry-level positions requiring up to two years of experience. "While Collegedunia is laying off several employees, it is also hiring fresh talent, allowing them to keep staffing levels up but at a lower cost," one employee told CNBC-TV18 at the time. Another source confirmed that while Collegedunia had been actively recruiting for some months, it has also been letting go of employees, including senior staff members with 7-8 years of experience at the company. <h2>What do experts say?</h2> <div type="image" title="Experts&amp;#39; opinion on unbossing trend" msid="113256250" hostid="261"></div>Mr. Sumit Kumar, Chief Strategy Officer at TeamLease Degree Apprenticeship, told Business Insider India, “From the perspective of HR leaders and CEOs, the strategic culling of middle management is viewed as a means to streamline operations, reduce overhead, and foster a culture of autonomy and innovation.” He also noted that even though employees can “exercise greater ownership and agility in decision-making” through this approach, there are also significant downsides. “The erosion of middle management creates a vacuum in leadership development, mentorship, and the retention of institutional knowledge, potentially leading to disengagement, a weakened talent pipeline, and misalignment with organisational objectives,” Kumar noted. Talking specifically about the Indian scenario, he said, “Implementing this trend in India would be a strategic move, positioning organisations to remain competitive in a rapidly evolving business environment. However, to fully capitalise on this approach, developing a more robust talent pipeline that integrates the ability to multitask at all levels is imperative. In today's landscape, leadership demands thinkers, strategic visionaries, and individuals who can execute with precision. We need to cultivate a new breed of leaders who are both thinkers and doers, capable of navigating complex challenges while driving innovation and growth. By building versatile, agile leaders through targeted talent development programs, Indian organisations can ensure they are well-prepared to thrive in a decentralised, high-performance environment.” RP Yadav, Chairman and Managing Director of Genius Consultants Limited, told ET recently that the Unbossing approach simplifies hierarchies and encourages open communication between frontline employees and senior management. He had added that the concept of “the oldest in the room is always the wisest of all” is no longer applicable. Meanwhile, Aditya Narayan Mishra, MD and CEO of CIEL HR Services told ET that the unbossing trend is predominantly seen in tech companies, creative roles, and startups, where swift decision-making and the unrestricted exchange of ideas are crucial. For example, the tech sector often thrives with flattened hierarchies that support rapid innovation and agility, while creative industries such as advertising and media use unbossing to cultivate a more collaborative and idea-focused environment. Thus, the unbossing trend is gaining traction beyond global companies and is finding its way into Indian organisations as well. While this approach can streamline operations, reduce costs, and enhance agility, experts caution that it also brings challenges, such as gaps in leadership development and the loss of institutional knowledge. To fully harness the benefits of unbossing, Indian companies must focus on cultivating agile leaders who can navigate complex challenges and drive growth. By building a strong talent pipeline and fostering a culture of innovation and collaboration, Indian organisations can position themselves to thrive in a more decentralised and dynamic business environment. Do you have insights or personal experience to s hare on layoffs, <keyword id="34447" type="General" weightage="20" keywordseo="workplace-trends" source="Orion">workplace trends</keyword>, or career changes? Contact us at businessinsider@timesinternet.in.

SIMPLY PUT: What’s with all “Unbossing” talks? Are Indian companies also embracing this global trend?

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Welcome back to our Saturday edition! One mom was determined to have her daughter graduate from college debt-free. So she <a target="_blank" href="https://www.businessinsider.com/college-tuition-bought-storage-unit-business-debt-free-2024-11">bought a fixer-upper mini-storage business</a> that ultimately paid for her daughter's full tuition.On the agenda:<ul><li>The only child is rising in popularity, and <a target="_blank" href="https://www.businessinsider.com/coming-reign-only-child-americans-fewer-babies-siblings-costs-2024-11">they could save the world</a>.</li><li>One BI reporter attempted to meet her protein goals while <a target="_blank" href="https://www.businessinsider.com/eating-high-protein-avoid-ultra-processed-foods-upf-lessons-2024-11">avoiding ultra-processed foods</a>.</li><li>Successful men are joining in on the luxury fragrance trend. <a target="_blank" href="https://www.businessinsider.com/popular-mens-cologne-fragrances-le-labo-2024-11">Here's what they smell like</a>.</li><li>A luxury safari lodge boasts high-end amenities, stunning views, and off-road game drives. <a target="_blank" href="https://www.businessinsider.com/africa-serengeti-national-park-safari-luxury-tent-2024-11">Take a look inside</a>.</li></ul>But first: Let's be serious — your meeting could've been a Slack message.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today-sunday-edition">sign up here</a>. Download Insider's app <a target="_blank" rel="" href="https://www.insider.com/app">here.</a><h3 id="2d2d81c1-e984-4ab1-b11e-26ada0d3da0b">This week's dispatch</h3><div type="image" title="photo illustration of calendar with week highlighted and row of office chairs" height="788" width="1400" msid="115361962" hostid="261" sizebytes="70134"></div><h2 id="ef84679e-5101-4303-beb5-fc75bc92b8c0">Meet 'No Meet Week'</h2>Last year, I told my reports that I was taking every non-essential meeting off my calendar for a week. I'd call it No Meet Week and use that time to catch up on my ever-growing to-do list, ideate, and edit.I hate meetings — and I say this as an extroverted people person.I'm not alone. Nvidia CEO Jensen Huang <a target="_blank" href="https://www.businessinsider.com/nvidia-jensen-huang-management-leadership-advice-how-to-run-business-2024-6">doesn't have one-on-ones </a>with his direct reports. A <a target="_blank" href="https://affiliate.insider.com?h=156b208df9a99988e073aa7c2db8e2456e344a45824ca1260ff3fc82a37303c7&amp;postID=67365e0bc711dce4fc7e8924&amp;postSlug=insider-today-protein-intake-tips-no-meet-week-11-2024&amp;site=bi&amp;u=https%3A%2F%2Fwww.microsoft.com%2Fen-us%2Fworklab%2Fwork-trend-index%2Fwill-ai-fix-work">2023 Microsoft survey</a> that analyzed data from 31,000 workers from 31 countries found that inefficient meetings were the No. 1 hindrance to their productivity, pointing to 68% of respondents who said they don't have enough time to focus during their workdays.I get it: On average, I spend about 18.3 hours a week in meetings, or nearly half my workday.Still, that doesn't quite capture how much meeting culture shapes my job. As an active participant, I'm often preparing for the meeting, in the meeting, and then do several follow-ups after the meeting, ballooning the experience into an official time suck.After I introduced No Meet Week to my team, one manager said she'd like to participate too, and soon, I extended it to my entire team.What resulted was a boon to morale and overall productivity — not just for that week but throughout the rest of the year. Managers started to question if meetings were still a good use of time and came up with other more efficient ways to communicate in our hybrid newsroom.Next week, at Business Insider, we're bringing No Meet Week back, and I can't wait to use that time to finish my Q4 strong. Have you ever tried to shuffle up your calendar? If so, <a target="_blank" href="mailto:jmckenzie@businessinsider.com">write and tell me</a> what you learned.<h2 id="cc30e20d-acf4-4a4e-ad8f-02c3a04a9dbb">The coming reign of the only child</h2><div type="image" title="A baby wearing a crown" height="1500" width="2000" msid="115361970" hostid="261" sizebytes="57752"></div>Only children have long been viewed as something of a demographic outlier, and are often stereotyped as spoiled or unable to play well with others. And for many Americans, they're viewed as the least desired family outcome when thinking about their dream lives.But siblingless families are on the rise — and it's not hard to see why. Women are having children later in life, and the cost of raising a kid has rapidly increased. But in a country more divided than ever, the only child's social skills, idiosyncrasies, and family dynamics might be what we need to thrive in modern life.<a target="_blank" href="https://www.businessinsider.com/coming-reign-only-child-americans-fewer-babies-siblings-costs-2024-11">Why only children might be our only hope</a>.<h2 id="f3efdf5d-fcfc-4813-9e6c-8e3b9040c25d">Quitting protein powder</h2><div type="image" title="A photo illustration of Rachel Hosie surrounded by two plates, one with chicken and vegetables and one with a burger with chips." height="1500" width="2000" msid="115361967" hostid="261" sizebytes="228782"></div>As a fitness and nutrition reporter, Business Insider's Rachel Hosie never paid close attention to the ultra-processed foods she ate. Instead, she focused mostly on getting enough protein and fiber in her diet.But as more studies began pointing to the health risks of ultra-processed foods, she decided to rethink her UPF choices. For one week, Hosie attempted to hit her daily protein goal of 110 to 130 grams without consuming ultra-processed foods like protein bars.<a target="_blank" href="https://www.businessinsider.com/eating-high-protein-avoid-ultra-processed-foods-upf-lessons-2024-11">Here's what she learned</a>.<h2 id="4e812ecf-a060-401e-9848-be206a63cddb">What's that smell?</h2><div type="image" title="A perfume bottle in a suit" height="1500" width="2000" msid="115361964" hostid="261" sizebytes="184608"></div>The fragrance industry is booming, becoming the fastest-growing category within the beauty market. Not only are teenagers getting in on the craze, but men are among fragrance's top consumers.BI spoke to successful men across different industries to learn about their favorite colognes. Fragrances from luxury brands like Jean Paul Gaultier were a top choice, especially in the finance world.<a target="_blank" href="https://www.businessinsider.com/popular-mens-cologne-fragrances-le-labo-2024-11">Here are their picks</a>.Also read:<ul><li><a target="_blank" href="https://www.businessinsider.com/gen-z-luxury-perfume-obsession-tiktok-fragrance-teen-boys-branding-2024-10">Inside Gen Z's obsession with luxury fragrances</a></li></ul><h2 id="483172dd-9e06-415f-8357-1bdb6f813f7b">Staying in the Serengeti</h2><div type="image" title="My guide and tracker in the morning light." height="1365" width="2048" msid="115361966" hostid="261" sizebytes="115532"></div>At the edge of Serengeti National Park in Tanzania is TAASA, a luxury safari lodge. Monica Humphries stayed in one of TAASA's 540-square-foot tents — which, by the way, go for $985 a person.The lodge boasts 180-degree views of the surrounding nature, an infinity pool overlooking a valley, and a host of luxury amenities. That's not even the best part.<a target="_blank" href="https://www.businessinsider.com/africa-serengeti-national-park-safari-luxury-tent-2024-11">Say "Jambo" to a safari stay</a>.<h2 id="5fef756b-4b6b-4037-8f33-9635854b9d8b">What we're watching this weekend</h2><div type="image" title="Deadpool and Wolverine on a television screen" height="1500" width="3000" msid="115361960" hostid="261" sizebytes="314370"></div><ul><li>"Dune: Prophecy": HBO's latest drama series, a spinoff of the blockbuster "Dune" films, premieres this weekend.</li><li>"Deadpool &amp; Wolverine": After making $1 billion at the global box office, Marvel's hit superhero movie starring Ryan Reynolds and Hugh Jackman is now.</li><li>"Silo": Season two of the Apple TV+ dystopian series returned for season two.</li></ul>And check out our guide to the <a target="_blank" href="https://www.businessinsider.com/guides/tech/best-streaming-service">best streaming services this year</a>.<a target="_blank" href="https://www.businessinsider.com/best-shows-movies-streaming-netflix-hulu-disney-november-15-24">See the full list</a><div type="image" title="A red shopping bag surrounded by $100 bills." height="1500" width="2000" msid="115361959" hostid="261" sizebytes="244828"></div><h2 id="a09a70ef-5e7e-4bf4-80b2-3731f70bdc6e">Deals we love</h2><ul><li>Ballet flats for fall: Throw on a pair of ruffled socks and you can wear ballet flats all year long. Our style editors share their <a target="_blank" href="https://www.businessinsider.com/guides/style/best-ballet-flats">list of the cutest and comfiest ballet flats</a> they've found over years of testing.</li><li>Sweater weather picks: The colder weather means it's finally time to layer up. These are the <a target="_blank" href="https://www.businessinsider.com/guides/style/best-mens-sweaters">most comfortable men's sweaters</a> that look great, feel good, and keep you warm.</li><li>Video game-inspired fitness: Ergatta's Smart Rowers use a competitive racing angle to help you give your all while working out. <a target="_blank" href="https://www.businessinsider.com/guides/deals/ergatta-rower-black-friday-sale-2024">Both models are already on sale for Black Friday</a>, so you don't have to wait to pick one up.</li></ul><h2 id="3a2e4b99-8063-4f80-8653-d1ec4a2af89a">More of this week's top reads:</h2><ul><li>How RFK Jr., Trump's pick for HHS secretary, <a target="_blank" href="https://www.businessinsider.com/how-rfk-jr-plans-to-make-america-healthy-again-2024-11">promises to 'Make America Healthy Again.'</a></li><li>A celebrity chef shares <a target="_blank" href="https://www.businessinsider.com/red-flags-signs-of-bad-mexican-restaurant-chef">the red flags to look for in a Mexican restaurant</a>.</li><li>Taylor Swift's fans-first business strategy goes back to<a target="_blank" href="https://www.businessinsider.com/taylor-swift-leann-rimes-concert-fan-loyalty-2024-11"> a childhood interaction she had with LeAnn Rimes</a>.</li><li>Gen Z is obsessed with <a target="_blank" href="https://www.businessinsider.com/gen-z-gospel-of-wealth-manifesting-tiktok-dating-2024-11">manifesting their way to riches and romance</a>.</li><li>A woman and her husband who moved from the Midwest to Canada said <a target="_blank" href="https://www.businessinsider.com/we-moved-to-canada-not-perfect-but-prefer-over-us-2024-11">they can't imagine moving back to the US</a>.</li><li>An iconic 'spite house' said to have been built by a man for his ex is <a target="_blank" href="https://www.businessinsider.com/saving-spite-house-from-demolition-pink-house-plum-island-history-2024-11">now the center of a demolition battle</a>.</li><li>A growing number of actors, executives, and producers are <a target="_blank" href="https://www.businessinsider.com/hollywood-leaving-los-angeles-remote-work-tv-movies-money-streaming-2024-11">leaving Hollywood</a>.</li></ul>The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York City. <a target="_blank" class="" href="https://www.businessinsider.com/author/grace-lett">Grace Lett</a>, editor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/lisa-ryan">Lisa Ryan</a>, executive editor, in New York. <a target="_blank" class="" href="https://www.businessinsider.com/author/amanda-yen">Amanda Yen</a>, fellow, in New York.

Insider Today: Protein pro tips

Climate Action 15: 2024's top global innovators powering green solutions

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Good morning! With the holidays just around the corner, it might not hurt to earn a little extra cash. Four people with side-hustle experience <a target="_blank" href="https://www.businessinsider.com/side-hustle-recommendations-passive-income-content-creation-amazon-etsy-2024-10">shared tips on their top gig recommendations</a>.In today's big story, betting on the presidential election is all the rage. <a target="_blank" href="https://www.businessinsider.com/election-betting-odds-trump-vs-harris-polymarket-kalshi-robinhood-2024-10">Can it keep the momentum going</a>?What's on deck:<ul><li>Markets: Blackstone's boss thinks Trump <a target="_blank" href="https://www.businessinsider.com/finance-ceos-supporting-trump-blackstone-steve-schwarzman-citadel-ken-griffin-2024-10">would be a better president the second time around</a>.</li><li>Tech: Google's earnings <a target="_blank" href="https://www.businessinsider.com/google-third-quarter-earnings-report-q3-2024-2024-10">were a big hit with investors</a>.</li><li>Business: What a Trump or Harris win <a target="_blank" href="https://www.businessinsider.com/housing-affordability-supply-impact-presidential-election-scenarios-homebuyers-harris-trump-2024-10">means for the cost of housing</a>.</li></ul>But first, wanna bet?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">Presidential bets</h2><div type="image" title="Kamala Harris and Donald Trump with dice" height="812" width="1083" msid="114782269" hostid="261" sizebytes="50032"></div>We're less than a week from election day, but one group can already claim victory: betting markets.Platforms allowing users to bet on the US presidential race have become the <a target="_blank" href="https://www.businessinsider.com/election-betting-odds-trump-vs-harris-polymarket-kalshi-robinhood-2024-10">surprise star of election season</a>, writes Business Insider's Matthew Fox. And it could eventually change how we view any potential outcome, not just future elections.Kalshi, which has attracted more than $100 million in election-related bets, is currently one of the most popular apps in the Apple App Store. The trading app Robinhood also <a target="_blank" href="https://www.businessinsider.com/presidential-election-betting-robinhood-legal-odds-2024-10">got in on the action</a> on Monday.Kalshi's <a target="_blank" href="https://markets.businessinsider.com/news/stocks/betting-us-election-cftc-kalshi-legal-battle-prediction-market-2024-10">legal victory in October over the CFTC</a> to offer election betting paved the way for the trend. But predictions markets are also spiking abroad where they've existed for years.Polymarket, which is not available to US citizens, has seen $2 billion in wagers this month, up from $533 million in September, according to The Block. Last year, the website averaged less than $20 million in monthly trading volume.The rise of election-betting markets hasn't been without controversy.A "whale" trader betting on former President Donald Trump to win the election grabbed headlines and drew conspiracy theories. Polymarket <a target="_blank" href="https://www.businessinsider.com/polymarket-donald-trump-betting-odds-whale-french-trader-harris-polls-2024-10">confirmed the user was a French national</a> with trading experience betting on Trump "based on personal views of the election."<div type="image" title="A young man in the center of a $100 bill" height="1500" width="2000" msid="114782272" hostid="261" sizebytes="563774"></div>The betting market's biggest tests might come after the election.Supporters of prediction markets say they're <a target="_blank" href="https://markets.businessinsider.com/news/stocks/trump-harris-prediction-markets-polls-presidential-election-polymarket-024-8">more accurate than traditional polls</a>, citing their ability to quickly adapt to the latest news and the fact participants are invested in the outcome.This election will serve as a good test of that theory, as there's a wide gap between the two approaches. Betting markets have Trump as a heavy favorite, whereas traditional polls indicate a tight race.Should Trump win in a landslide, it could strengthen the case for using betting markets as a key tool for election analysis. Nate Silver, one of the most well-known polling analysts, is already an advisor to Polymarket.But a presidential race only happens once every four years. What about the rest of the time?If the past few years have taught us anything, <a target="_blank" href="https://www.businessinsider.com/gambling-young-men-sports-betting-crypto-meme-stock-market-addiction-2024-4">this country loves to gamble</a>. From crypto to meme stocks to sports, young men, in particular, are happy to bet on just about anything.Prediction markets' business model can lean into that theme. On Kalshi, you can currently wager on whether the Tesla robotaxi will be released before 2026 or if the US will ban TikTok before May.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li>Why Boeing's $21 billion share sale is <a target="_blank" href="https://www.businessinsider.com/boeing-capital-raise-ecm-bankers-bonuses-wall-street-comp-expert-2024-10">an early Christmas present for Wall Street</a>.</li><li>How Trump vs. Harris is <a target="_blank" href="https://www.businessinsider.com/wall-street-political-contributions-by-name-for-trump-vs-harris-2024-8">playing out on Wall Street</a>.</li><li>The Fed is likely to disappoint markets with just one more rate cut this year amid global inflation, <a target="_blank" href="https://www.businessinsider.com/fed-cut-rates-inflation-powell-blackrock-ceo-larry-fink-2024-10">BlackRock CEO says</a>.</li><li>Microsoft just ramped up its cloud rivalry with Google by <a target="_blank" href="https://www.businessinsider.com/microsoft-google-shadow-campaigns-cloud-regulation-undermine-business-azure-2024-10">accusing it of 'shadow campaigns'</a>.</li><li>Snap <a target="_blank" rel="noopener" href="https://www.businessinsider.com/snap-surges-gets-major-boost-from-ai-push-paid-users-2024-10">surges 10%</a> as it gets a major boost from AI and paid subscribers.</li><li>Google's been on an efficiency drive. Its new CFO said it can '<a target="_blank" rel="noopener" href="https://www.businessinsider.com/google-earnings-q3-2024-new-cfo-boost-efficiency-2024-10">push a little further</a>.'</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="Mark Zuckerberg speaking on stage." height="1600" width="2870" msid="114782278" hostid="261" sizebytes="38034"></div><ol><li>Wall Street has high hopes for Meta. Thanks to the company's AI optimization, analysts generally <a target="_blank" href="https://markets.businessinsider.com/news/stocks/meta-q3-earnings-preview-meta-stock-price-ai-growth-guidance-2024-10">expect positive figures</a> from Meta's third-quarter earnings report today. Bank of America has said the stock is a top AI pick, and investors are keeping an eye on AI growth opportunities.</li><li>Citadel's playing the long game with its shorts. Justin Lubell, the hedge fund's global equities head, said the firm's longest-running equities group made more money shorting stocks than its long-term investments in recent years. Lubell said the strategy benefits from <a target="_blank" href="https://www.businessinsider.com/why-citadel-focuses-on-shorting-stocks-according-to-justin-lubell-2024-10">the lack of competition on the short side</a>.</li><li>Two of Wall Street's top executives speculate on Trump's bid for a second term. Blackstone CEO Steve Schwarzman, who has endorsed Donald Trump, thinks the former president <a target="_blank" href="https://www.businessinsider.com/finance-ceos-supporting-trump-blackstone-steve-schwarzman-citadel-ken-griffin-2024-10">would be "efficient and effective" during his second go around</a>. Fellow billionaire and Republican mega-donor Ken Griffin expects Trump to win next week.</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="A Linkedin logo sitting on a short stack of applications next to a large stack of applications" height="1500" width="2000" msid="114782270" hostid="261" sizebytes="192558"></div><ol><li>Can LinkedIn save us from hiring hell? The platform wants to help job-seekers apply smarter, not harder, by using AI to optimize the process. The goal is quality over quantity: LinkedIn hopes you'll apply to fewer jobs, but the ones you'll swing for <a target="_blank" href="https://www.businessinsider.com/hiring-broken-linkedin-ai-fix-fewer-jobs-resume-spammers-2024-10">will be better matches</a>.</li><li>Amazon Web Services' Graviton chips are thriving. In 2018, AWS launched Graviton, its own line of homegrown central processing unit chips for data-center servers. Now, <a target="_blank" href="https://www.businessinsider.com/aws-graviton-chips-used-by-90-percent-top-1000-customers-2024-10">90% of AWS's largest server customers have become Graviton users</a>, a company executive told BI.</li><li>Five Apple Intelligence features you can try out now on your iPhone. Some of the highly anticipated AI tools include one that helps summarize long messages, one that limits disruptions, and another that can <a target="_blank" href="https://www.businessinsider.com/apple-intelligence-features-tested-on-iphone-16-pro-max-2024-10">edit randos out of your photos</a>.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="Harris and Trump." height="1600" width="2400" msid="114782274" hostid="261" sizebytes="312674"></div><ol><li>How a Trump or Harris presidency could impact what you pay for housing. Affordable housing is one of America's top economic concerns heading into the election. Here's how each candidate's proposed policies would affect housing supply, first-time home buyers, urban vs. rural housing, and <a target="_blank" href="https://www.businessinsider.com/housing-affordability-supply-impact-presidential-election-scenarios-homebuyers-harris-trump-2024-10">action against big landlords</a>.</li><li>Alphabet surpassed its third-quarter earnings expectations. <a target="_blank" href="https://www.businessinsider.com/google-third-quarter-earnings-report-q3-2024-2024-10">Google's parent company delivered beats on revenue</a>, earnings per share, its advertising business, and Google Cloud revenue. The search giant is all-in on AI — <a target="_blank" href="https://www.businessinsider.com/google-earnings-q3-2024-new-code-created-by-ai-2024-10">CEO Sundar Pichai said</a> more than a quarter of the company's new code is created by AI and then checked by employees.</li><li>Is X being influenced by Elon Musk or its users? Musk is self-proclaimed "super MAGA." And X, the social media platform he owns, is more likely to show content from right-leaning accounts, according to reports by The Washington Post and The Wall Street Journal. But it's unclear whether the platform is showing users what they want to see or <a target="_blank" href="https://www.businessinsider.com/elon-musk-donald-trump-twitter-x-wsj-washington-post-2024-10">what Musk wants them to see</a>.</li></ol><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>Meta, Microsoft, Starbucks, and other companies report earnings.</li><li>The Bureau of Economic Analysis publishes Q3 economic growth data.</li></ul>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. Milan Sehmbi, fellow, in London.

Betting on the election is the hottest new trend. But can prediction markets keep the momentum going?  

New Delhi [India], December 21: While making significant strides in various sectors, there are leaders in India who are standing out for their work worldwide. The "Global <keyword id="397956" type="General" weightage="20" keywordseo="indian-leaders" source="Orion">Indian Leaders</keyword> 2023" list curated by World Brand Affairs has featured leaders from across the country who are known for their innovative, resilient, and persistent approach to functioning in their respective industries. These people are heading towards new heights and establishing standards for excellence. The list honors their outstanding efforts and accomplishments which have propelled their companies to unbound success. Their inclusion in the list highlights their exceptional abilities to navigate challenges, adapt to changing market trends, and consistently deliver groundbreaking results. Gaurav Munjal, CEO of Unacademy Gaurav Munjal is the co-founder and CEO of Unacademy, India's largest online learning platform. With a vision to democratize education, Munjal pioneered Unacademy's growth, transforming it into a leading ed-tech powerhouse. His innovative leadership has revolutionized accessible and quality education, empowering millions of learners across the globe. Kunal Shah, Founder of CRED Kunal Shah is the founder and CEO of CRED, a fintech startup revolutionizing credit card payments in India. As a serial entrepreneur, Shah previously founded FreeCharge, later acquired by Snapdeal. His innovative approach to creating rewarding credit experiences has helped CRED to redefine credit card usage while fostering financial literacy. Ashish Hemrajani, Co-founder and CEO of BookMyShow Ashish Hemrajis the co-founder and CEO of BookMyShow, India's leading online entertainment ticketing platform. Hemrajani's unique idea revolutionized the way people book tickets for movies, events, and live performances. His ingenious leadership transformed BookMyShow into a cultural phenomenon, reshaping the access to entertainment industry across the country. Fardin Sheikh, Managing Director at Wizence Group Fardin Sheikh is a seasoned professional with over 25 years of exemplary leadership experience, earning him recognition as a Distinguished Digital Transformation Leader. His dynamic career spans across various roles, showcasing a remarkable blend of strategic vision, project management acumen, and a strong commitment to driving digital innovation. Pariksha Rao, Founder of NuWe Starting as a Clinical Nutritionist, Pariksha Rao has morphed into various roles with the intent to help demystify and democratize healthcare. From maternal well-being to fetal health and tailored nutrition for weaning kids to teens, her work has helped impact over 200,000 lives over nearly two decades of her career. She continues to amplify her impact with NuWe. Poojaa Choprah, CEO and MD of Felix Impex Poojaa Choprah, a visionary CEO &amp; MD of Felix Impex Pvt Ltd., and founder of PNA ORIGINE, is renowned for strategic business acumen and market expansions. A trailblazer in entrepreneurship, her global fashion insights, artistic fervor as a Kathak dancer, and bespoke training expertise redefine success, weaving innovation and cultural fluency into her vibrant career. Amandeep Kaur Khangura, Director of Tru Prime Amandeep is a Canadian born entrepreneur who moved to India in 2011, and acquired Indian Citizenship to follow her passion to bring social empowerment in rural Punjab. During her time in Canada, Amandeep chaired HR &amp; Finance for a $500M project. Currently, in India, she operates Majara Dairy Farm which has 2,600 livestock and is the largest dairy farm operator in Punjab and one of the largest in India. Pt. Dr Sanjeev Kumar Srivastava, Nadi and Vedic Celebrity Astrologer Renowned globally as a luminary in Nadi and Vedic astrology, Pt. Dr. Sanjeev Kumar Srivastava is celebrated across 70+ nations for his remarkable precision in predictions &amp; teaching Nadi Astrology. With an illustrious career spanning 27 years, his astonishing success rate of 95-97% and expertise in Nadi Nakshatra Sutras exemplify his command in the celestial arts. Dr Prachiti Punde, Director of Proluxe Dr Prachiti Punde is a powerhouse in Integrated Medicine, Director of Proluxe Pvt Ltd, and Mrs. Universe Tolerance 2021. She transforms health and lifestyle with an exclusive GLAMOWELL multi-experience centre and revolutionizes wellness with patented tools and a unique mobile app. Along with being a spiritually blessed child, she is also an Anesthetist and mindskills Trainer with 15+ books published. Sanju Pudyandil, Founder of Whitespace Brand Consulting Sanju Pudyandil, a luminary in brand management and marketing, launched Whitespace Brand Consulting after honing his expertise at Ray+Keshavan, presently Super Union. Renowned for orchestrating transformative corporate revamps, he spearheaded impactful makeovers for illustrious brands like Canara Bank, Trident Hotels, J&amp;K Bank, Punj Lloyd, CEAT Tyres, and Fair &amp; Lovely, among others. Stuti Galiya, Partner at Khaitan &amp; Co. Stuti, an esteemed Advocate and solicitor, serves as a Partner at Khaitan &amp; Co., excelling in mergers &amp; acquisitions, private equity, corporate laws, commercial contracts, and foreign investments. Recognized as the "Luxury Retail Lawyer of the Year 2023" by APAC Insider, her expertise in the luxury retail sector marks her as an ingenious leader in the Asia-Pacific legal domain. Srividhya, Founder of HITECH Engineering Solutions (India) Srividhya, founder of HITECH Engineering Solutions (India) holds a deeply rooted legacy in Construction since 1998. Her indomitable optimism defied industry challenges, establishing a prominent platform despite male-dominated norms. Under her guidance, the company thrives as a certified SSI unit with ISO 9001:2015, ISO 14001:2015 &amp; OHSAS 4500: 2018 qualifications, renowned for cost-effective solutions nationwide and across Asia. Debabrata Sarkar, CMD at MicroAlgae Solutions Debabrata Sarkar is an agricultural innovator with 26+ years of global experience. Armed with a BCKVV agriculture degree and IIM Kolkata alumni status, he led strategic units for esteemed firms in Asia Pacific. He is currently serving as the CMD at MicroAlgae Solutions India Pvt Ltd, a subsidiary of AlgaEnergy Spain. Mogilipuri Krishna Chaitanya, Director at Wonder View Media As a Director at Wonder View Media Pvt Ltd, a CMPTL franchise specializing in IT services and Business Consulting, Mogilipuri Krishna Chaitanya facilitated substantial growth for his brother's business. With over 9 years of experience, he continues to excel as a Software Engineer at Tata Consultancy Services (TCS) and has made significant contributions to tech giants like Apple, Google, and more. Subhajit Banik, Founder of Birdlens Creation Subhajit ventured into photography in 2007 as a model, cultivating expertise in lighting and creative framing. Winner of the Glamhunt competition by ABP group in 2010, he founded Birdlens Creation in 2015. Specializing in wedding photography, Subhajit crafts timeless, emotive images reflecting couples' love and joy. Dr Rahul Mirchandani, Chairman &amp; Managing Director of Aries Agro Limited Dr Rahul Mirchandani, ranked among the 30 Most Innovative CEOs in India, has pioneered unique strategies to build 130+ Aries specialty crop nutrition brands. With a PhD in Management Studies, he teaches Marketing, Innovation, and Entrepreneurship across 50+ B-Schools. He plays key roles in CII's agriculture council, and key governmental panels and was the National Chairman of CII's Young Indians. Vinay Kumar Singh, Executive Director and CEO of Thomson Digital and Q&amp;I (India) Vinay Kumar Singh is the Executive Director and CEO of Thomson Digital and Q&amp;I, with over 30 years of industry expertise. He pioneered Thomson Digital in India and globally, founding associated companies and an education technology startup. Specializing in scientific and educational content, Vinay completed his Executive Training Programs at ISB Hyderabad. Saurabh Gupta, Founder &amp; CEO of Verismart.ai A 3-time entrepreneur and angel investor in 9 deep tech firms, Saurabh Gupta is now leading Verismart.ai which pioneer in blockchain-based Ad-tech/Data Interoperability platform with over 520M+ users data pipeline while ensuring privacy compliance. He also acquired dolphinchat.ai., and has been a speaker at 50+ global conferences talking about Blockchain and data privacy. Vikkas K Jha, Founder of Brand Kettle Vikkas K Jha, an ace marketing professional turned visionary entrepreneur, founded Brand Kettle amidst the pandemic. With expertise in Commercial Fitouts, Retail Roll-Outs &amp; experiential marketing, he expanded Brand Kettle's services, integrating 30+ brands, within 3 years. He is also driving impactful social change via the Brand Kettle Foundation's NGO initiatives. Atharva Bahadur, CEO of Drishti Pures Atharva Bahadur is the CEO of Drishti Pures in Lucknow. Under Atharva's leadership, Drishti Pures, a pioneering endeavor, engages abandoned, differently-abled children in producing Cold Pressed Oil and processing pure spices, aiming to foster self-reliance among them. Currently housing 260 abandoned children, Drishti remains the largest institution of its kind globally. Harsh Niwas, Manager Legal and Team Lead at Unitech Limited Harsh Niwas is an international consultant having more than 12 years of experience in the Real Estate and Mining industries. His expertise lies in project management, legal strategy, and stakeholder communication, delivering successful outcomes and operational efficiency. Known for strong leadership, negotiation, and collaboration skills, he ensures compliance and value creation within teams and organizations. Hussain Kalsekar, Founder and CEO of 366 DigitX Renowned for fostering enduring relationships with corporate decision-makers, Hussain Kalsekar has steered 366 DigitX to unparalleled heights. His client-centric approach has garnered him accolades globally. Recognized as one of the top 100 smartest digital marketing leaders by the World Marketing Congress, he was also recently honored among the Top 50 Global High Flyers and awarded as the Leader in Digital Marketing for 2023. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)

Global Indian Leaders of The Year 2023 as per World Brand Affairs

The next time you join a new organisation, closely look at its reporting hierarchy. Do you have a mid-level manager to report to, or do you have a direct line to the senior executives? If your answer is the latter, you’re most likely part of an organisation that has “unbossed” itself. Many companies, like life sciences behemoths Bayers and Novartis, have recently hopped onto this un-bossing trend. Closer home, Wipro reportedly laid off many of its middle <keyword id="20235360" type="General" weightage="20" keywordseo="management" source="keywords">management</keyword> employees recently. The IT major is said to have undergone a major un-bossing, even though the main purpose of the exercise was to improve efficiency. So, what is this un-bossing trend all about, and how are Indian companies taking up to it? And most importantly, will it do anyone good? Let's find out. <cmsannotation type="cmsannotation" annotationid="What does Gen-Z want?" comment="subhead" text="What does Gen-Z want?">What does <keyword id="20334202" type="General" weightage="20" keywordseo="Gen-Z" source="keywords">Gen-Z</keyword> want?</cmsannotation> A recent report by the World Economic Forum (WEF) estimates that by 2025, Gen-Z (born after 1996) will account for 27% of the global workforce. While there are no official figures, a young country like India is expected to have an even higher proportion of Gen-Z workforce, with estimates suggesting 25 crore as against roughly 40 crore <keyword id="19955338" type="General" weightage="20" keywordseo="millennials" source="keywords">millennials</keyword> (those born between 1981 and 1996). While the numbers might not be far apart, their work priorities certainly are. For millennials, it has traditionally been about job stability and steadily climbing the corporate ladder. But for Gen-Z, purpose, <keyword id="19986702" type="General" weightage="20" keywordseo="flexibility" source="keywords">flexibility</keyword>, respect at their jobs and a solid work-life balance are key. They are not lured into simply jumping the corporate ranks. As more companies make way for younger blood in offices, millennials are confronted with a unique, almost existential challenge. With Gen-Z embracing newer tech, remote working and prioritising flexibility and respect at work, corporations are increasingly doing away with <keyword id="22056604" type="General" weightage="20" keywordseo="mid-level-managers" source="keywords">mid-level managers</keyword>, mostly millennials. Even in 2022, millennials were also the hardest hit during <a href="https://www.businessinsider.in/policy/economy/news/millennials-won-the-great-resignation-now-theyre-losing-the-big-firing-/articleshow/94076963.cms">the Great Firing Phase</a> as well. Sanchita Tuli, director of <keyword id="6393327" type="General" weightage="20" keywordseo="Human-Resources" source="Orion">Human Resources</keyword> at Great Lakes Institute of Management notes that un-bossing is a natural progression, as more organisations will eventually move towards developing flatter reporting hierarchies. “However, it remains pertinent only to limited industries, like technology, where changes are dynamic and quick. Un-bossing will be nearly impossible in certain industries like education, where one will always need a certain degree of experience to handle higher-order roles. Another industry where un-bossing will not take place is hospitality, where they would be needed to drive daily operations,” she explains. <cmsannotation type="cmsannotation" annotationid="Bye-Bye mentorship?" comment="subhead" text="Bye-Bye mentorship?">Bye-Bye <keyword id="20874153" type="General" weightage="20" keywordseo="mentorship" source="keywords">mentorship</keyword>?</cmsannotation> What about mentorship and the handholding done by these mid-level managers, which is so crucial during the initial years of one’s career? "Gen Zers are new to the world of work, and they do really need managers to help them find the ropes. Ultimately, eliminating this kind of middle management position means less guidance, less coaching, and less mentoring, which I feel like is still desperately needed in a post-COVID world," <a href="https://www.businessinsider.in/careers/news/companies-are-unbossing-workplace-culture-and-millennials-are-in-the-firing-line/articleshow/110311358.cms">says</a> Shoshanna Davis, the founder of Fairy Job Mother to Business Insider. Tuli, however, believes that the new generation could also benefit from un-bossing. She believed that the trend offers scope for new talent to access <keyword id="22056605" type="General" weightage="20" keywordseo="cross-functional-guidance" source="Orion">cross-functional guidance</keyword> and mentorship, both within the organisation and online as well. In fact, many organisations are increasingly engaging industry professionals to take up training and mentoring sessions for their young, incoming talent. This could benefit the younger lot by motivating them to take on initiatives and action, all on their own. Zoomers are already unenthused by management. They are the generation that coined the term "<a href="https://www.businessinsider.com/lazy-girl-job-trend-tiktok-explained-defending-low-stress-work-2023-7">lazy-girl jobs</a>" and strongly believe in the benefits of "<a href="https://www.businessinsider.com/gen-z-quiet-quitting-work-ethic-millennials-money-struggles-2023-10">quiet quitting</a>." And at the end of the day, solid managers will always be in demand. As per a 2022 report by ThoughtExchange, around 79% of Indian youngsters prioritise having a supportive manager, who is equally invested in their personal growth and professional development while working. For most parts, Gen-Z merely wants to boot out micromanagement and workplace toxicity, something that has come to be deeply associated with mid-level management. Clearly, the role, which was earlier simply a link between fresh talent and senior management, is in need of a rehaul. <cmsannotation type="cmsannotation" annotationid="Don't be a boss, be a leader" comment="subhead" text="Don't be a boss, be a leader">Don't be a boss, be a leader </cmsannotation>To buck this trend, mid-level managers will need to be more agile and adaptable to the changing times. In other words, they need to be as un-bossy as possible. That the oldest, most experienced member of the lot will necessarily also be the wisest is a notion that should be retired. Mid-managers need to be facilitators, and not mere bosses dictating the job. As Tuli states, mid- managers will need to work on fostering a safe and positive workplace culture, where experience, constructive feedback, and new perspectives find equal value and voice.

The 2024 Great Unbossing — Desi Edition: How is global trend of firing mid-level managers taking shape in India

<ul class="summary-list"><li>Vultr operates global data centers to enhance AI computing capabilities and speed.</li><li>Sovereign clouds ensure data is stored locally, aiding compliance and national security.</li></ul>Most of our online work <a target="_blank" class="" href="https://www.businessinsider.com/amazon-nvidia-cloud-ai-anthropic-2023-10">happens in the cloud</a> these days, though we likely don't know where the computing is actually happening. The location of the <a target="_blank" class="" href="https://www.businessinsider.com/ai-data-center-demand-nvidia-databank-2024-8">data center</a> that houses our spreadsheets and shopping lists doesn't matter much to most of us until it does.In the age of AI, where computations are becoming more complex by the day, some nations are looking to make sure some of that power is within their borders. It's good business, but it's also a matter of pride, practicality, and <a target="_blank" class="" href="https://www.businessinsider.com/openai-sam-altman-infrastructure-artificial-intelligence-data-centers-2024-9">national security.</a>Vultr is a cloud service provider and data center operator founded in 2014. The company started buying Nvidia GPUs in 2021, getting to the AI cloud computing business earlier than most. It operates data centers globally, with both traditional computing and AI servers for public cloud clients, along with companies and countries that want their own private clouds. CEO J.J. Kardwell describes the company as the largest privately-held cloud computing platform in the world.A large global footprint, with more than 30 data centers on six continents, helps with computing speed, especially for <a target="_blank" href="https://www.businessinsider.com/nvidia-competition-sambanova-groq-cerebras-show-faster-inference-speed-2024-9">AI inference</a>. It also makes the Vultr boss well-positioned to explain a phrase frequently on the lips of AI luminaries like <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-ceo-jensen-huang-countries-need-own-ai-systems-2024-2">Nvidia CEO Jensen Huang:</a> sovereign AI.This Q&amp;A has been edited for clarity and length.BI: What is a sovereign cloud?Sovereign cloud is the delivery of cloud infrastructure as a service, typically inside a country. It guarantees data is stored locally, which ensures it's used strictly for the intended purposes and not transferred outside of national borders without explicit authorization. That's the essence of it.The higher levels of sovereignty involve no communication, no information whatsoever, even at a control plane level, passing outside of a country. Every single interaction, even with a platform, happens in-country. This helps ensure data sovereignty, data residency, data governance, and compliance with local privacy laws.BI: If most companies simply rent computing capacity from a cloud provider, why would they care where the data centers are?In some cases, it's actual compliance with the law. For example, let's say it was a patient's medical records, personally identifiable information, or other sensitive data. They may have a compliance obligation regarding where they can store data.The second is that the lowest level of risk is if the chain of custody can be documented from end to end. So keeping data in-country and in a sovereign cloud enables the highest levels of accountability and avoids transferring data across international networks.BI: How does a sovereign cloud work?If you want true technological independence, you can deliver it with essentially an air gap deployment and a dedicated control plane where the customer is completely untethered from any other data centers or infrastructure.AI doesn't necessarily require interactions with data from many sources. Many training jobs are specific data sets that can be loaded onto a network in a sovereign deployment. And everything can quite easily be executed in-country.I think many countries realize that some of the most important applications of AI are around matters of national security, critical industries, and citizen data, where their local laws around consumer data and privacy may be very, very different from those in other countries. So it's quite important to them to be able to ensure for their citizens that anything that's being done, with AI is being done within the confines of the country and in compliance with their own laws.BI: What do people mean when they use the term "sovereign AI"?They are focused on capacity in a specific country, and typically they're talking about capacity sponsored by the government, whether it's at a state or federal level within that country.One of the challenges, or inequities, is the very uneven distribution of AI infrastructure around the world.Obviously, people are well aware of the transformative impact that AI can have across so many industries, but the infrastructure itself to perform that work, train models, and support inference is very unevenly distributed globally.Many countries are realizing that if they don't take an active role at the government level in helping sponsor, encourage, and incentivize the deployment of infrastructure locally, their businesses and populations will have less access to that technology.By definition, large language models are specific to a language. And the biggest portions of early innovation were done in US English. Only recently we're seeing the globalization of many of these models. You can't train on a US body of data, for example, for legal documentation then do simple translation into other languages.Obviously, you'd miss local conventions of law and language, and therefore, translations are not enough. You'd actually need to do training on local models, on local bodies of data. Every major language economy in the world wants to benefit from AI, yet the resource is not available proportionately to where the population or even the GDP of the world is, right now.BI: AI computing is extremely <a target="_blank" href="https://www.businessinsider.com/ai-data-centers-us-power-grid-gpu-nvidia-cerebras-amazon-2024-7">energy intensive,</a> and concerns about the US grid abound. Can you speak to how those dynamics are changing where data centers might be built?Given the significant growing power consumption of AI infrastructure and the importance of its efficient delivery, we will increasingly see capacity building in global markets that have a comparative advantage in supporting lower-cost data center capacity.We have a strategic partnership with <a target="_blank" class="" href="https://datacenternews.asia/story/vultr-singtel-enhance-cloud-gpu-capacity-in-southeast-asia">Singtel in Singapore</a>, and if you look at the way that they're building across the region, they're bringing up massive capacity in markets like Malaysia and others where we'll be able to very efficiently serve the region and much of the world where you see more efficient power and operating costs.The domestic military or Department of Defense equivalent in any country will want those deployments to be domestic, regardless of any cost.But for many enterprises, so long as the execution is done at world class compliance, privacy, and trust commitments, you will see more efficient distribution of those workloads that can be executed in other places in the world.

Sovereign AI explained: An AI cloud CEO unpacks what's behind the trend

Top tech and business trends face off in our March Madness bracket

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Welcome back to our Saturday edition, a rundown of our best lifestyle reads. Moms always figure it out. That was the case for Suzanne Hayes, who <a target="_blank" href="https://www.businessinsider.com/mom-moved-kids-hotel-room-because-rent-is-high-2024-8">moved her family of three into a hotel</a> because it was cheaper than renting and came with amenities.On the agenda:<ul><li>J.Lo and Ben Affleck's ultra-public love story <a target="_blank" href="https://www.businessinsider.com/jlo-ben-affleck-divorce-documentary-greatest-love-story-never-told-2024-8">may have been their downfall</a>.</li><li>Fitness enthusiasts have a controversial new health hack: <a target="_blank" href="https://www.businessinsider.com/glucose-monitors-over-the-counter-track-blood-sugar-health-fitness-2024-8">glucose monitors</a>.</li><li>How Boquete, Panama, became the <a target="_blank" href="https://www.businessinsider.com/boquete-panama-how-to-retire-in-paradise-cost-of-living-2024-8">go-to destination for retiring boomers</a>.</li><li>Gen Z women love wearing corporate-inspired clothes <a target="_blank" href="https://www.businessinsider.com/gen-z-clothing-office-siren-business-casual-fashion-2024-8">outside of the office</a>.</li></ul>But first: Summer never ends in Florida.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today-sunday-edition">sign up here</a>. Download Insider's app <a target="_blank" rel="" href="https://www.insider.com/app">here.</a><h3 id="2d2d81c1-e984-4ab1-b11e-26ada0d3da0b">This week's dispatch</h3><h2 id="a876e50c-5e32-45ca-81eb-f646119d620f">Meet the "Hamptons of the South"</h2>A 26-mile stretch of Florida highway has been a well-kept secret for years. Now, the secret's out.Known as 30A, it's become one of the hottest luxury travel destinations thanks to its crystal-blue water — courtesy of the Gulf of Mexico — and white sandy beaches. Sitting between popular spring break locales Destin and Panama City Beach, the 30A beaches comprise a few towns: Rosemary, Santa Rosa Beach, and Seaside.What's attracting those looking for a vacation, and even a vacation home, is the area's reputation for being "quiet, family-oriented destinations somewhat off the beaten path," <a target="_blank" class="" href="https://www.businessinsider.com/30a-highway-florida-rentals-beaches-real-estate-investors-growth-2024-8">writes Business Insider's real estate reporter Dan Latu</a>.Since 2019, vacation-rental sites have seen an increase in bookings, and hosts can list at higher rates, climbing from $450 to $530 per night. Those wanting to stay a little longer may have noticed that median home sales have also seen a boom, according to Redfin, going from $1.1 million in July 2019 to $3 million in July 2024.Despite the influx of interest and visitors, Kemp Stewart, a luxury rental owner who's seen 30A blow up in popularity, said that the beach towns' appeal has remained the same."It's stayed consistent," Kemp told BI. "This is a place for families to go on vacation and connect with one another in one of the most beautiful environments in the world."<a target="_blank" class="" href="https://www.businessinsider.com/30a-highway-florida-rentals-beaches-real-estate-investors-growth-2024-8">Read the full story</a>.<div type="image" title="Cameras aimed at Ben Affleck and Jennifer Lopez kissing." height="727" width="1024" msid="112764198" hostid="261" sizebytes="40242"></div><h2 id="c388b78b-ed77-4b15-8c53-9bb33526fcf9">Bennifer's downfall</h2>This week, Jennifer Lopez filed for divorce from Ben Affleck after two years of marriage. The news broke six months after the release of her documentary, "The Greatest Love Story Never Told."In the documentary, Affleck expresses reluctance and concern about the inner workings of their relationship becoming public — and it may have been the first look at the pair's undoing.<a target="_blank" href="https://www.businessinsider.com/jlo-ben-affleck-divorce-documentary-greatest-love-story-never-told-2024-8">What the documentary foreshadowed</a>.Also read:<ul><li><a target="_blank" href="https://www.businessinsider.com/jennifer-lopez-ben-affleck-divorce-settlement-prenup-assets-2024-8">Jennifer Lopez and Ben Affleck reportedly didn't sign a prenup. Here are the assets they may have to split 50/50 in their divorce settlement</a>.</li></ul><div type="image" title="Photo illustration of woman wearing glucose monitor." height="1440" width="1920" msid="112764202" hostid="261" sizebytes="131096"></div><h2 id="1c02035d-1140-439a-bf43-021df87f3b5f">Contentious new health trend</h2>Continuous glucose monitors, traditionally used by people with diabetes, have become fitness enthusiasts' hot new hack — even if they don't have the condition.Proponents say the monitors can help people make proactive choices about their health. On the other hand, research isn't clear about exactly what certain blood sugar levels mean, so users may be operating in a scientific gray area.<a target="_blank" href="https://www.businessinsider.com/glucose-monitors-over-the-counter-track-blood-sugar-health-fitness-2024-8">Pros and cons of glucose monitors</a>.Also read:<ul><li><a target="_blank" href="https://www.businessinsider.com/woman-lost-weight-blood-sugar-tracking-continuous-glucose-monitor-tips-2024-8">A 56-year-old woman lost weight and balanced her blood sugar with 5 simple changes</a></li></ul><div type="image" title="A view of Boquete, Panama." height="1536" width="2048" msid="112764200" hostid="261" sizebytes="483488"></div><h2 id="eb1df1a9-69a1-4d5c-a443-24ed891451ed">Boquete is booming</h2>Boquete, Panama, used to be a quiet town known for its coffee plantations and annual flower festival. For years, the town was a prime destination for Panamanians looking for a weekend escape. Then came the retirees.American boomers have been flocking to Boquete in recent years, citing the high cost of retirement and divisive political climate in the US. In becoming one of the most popular places to retire, it's also changed drastically.<a target="_blank" href="https://www.businessinsider.com/boquete-panama-how-to-retire-in-paradise-cost-of-living-2024-8">Inside the evolution of Boquete</a>.Also read:<ul><li><a target="_blank" href="https://www.businessinsider.com/boomer-couple-couldnt-afford-retirement-moved-to-guatemala-social-security-2024-8">A boomer couple on Social Security moved to Guatemala because they couldn't afford to retire in the US. After 2 years, they moved back</a>.</li></ul><div type="image" title="Finger hovering above three business-wear outfit options" height="1500" width="2000" msid="112764204" hostid="261" sizebytes="131486"></div><h2 id="06c823cf-6787-44d0-8cf8-3faab5de804a">Calling all "office sirens"</h2>Gen Zers are embracing elements of corporate attire, but they're not wearing it to the office.Thanks to the "office siren" trend, Gen Z women are taking tailored pieces and prints like pinstripes into the streets, out to brunch, and to the club. The trend's virality is a way of asserting a claim to adulthood, and shows how blurred our personal and professional lives have become.<a target="_blank" href="https://www.businessinsider.com/gen-z-clothing-office-siren-business-casual-fashion-2024-8">Fashion in the work-from-anywhere age</a>.Also read:<ul><li><a target="_blank" href="https://www.businessinsider.com/gen-z-office-siren-fashion-aesthetic-trend-2024-2">Gen Z is bringing the 'office siren' aesthetic to corporate settings, but some say the trend isn't practical for work</a></li></ul><div type="image" title="A TV screen showing &quot;Horizon&quot;" height="1500" width="3000" msid="112764206" hostid="261" sizebytes="341564"></div><h2 id="941f6bd2-64dd-4c89-ac42-ddeaa6232345">What we're watching this weekend</h2><ul><li>"Horizon: An American Saga": The first chapter of Kevin Costner's western drama trilogy is hitting Max two months after it <a target="_blank" href="https://www.businessinsider.com/kevin-costner-horizon-box-office-numbers-yellowstone-analysis-2024-7">flopped at the box office</a>.</li><li>"Untold: The Murder of Air McNair": The latest installment of Netflix's docuseries focuses on the career of NFL quarterback Steve McNair and his shocking death in 2009.</li><li>"Pachinko": The critically acclaimed Apple TV+ drama returns for its second season.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/best-tv-shows-movies-streaming-netflix-apple-hulu-august-23-24">See the full list.</a><div type="image" title="A red shopping bag surrounded by $100 bills." height="1500" width="2000" msid="112764209" hostid="261" sizebytes="244828"></div><h2 id="a09a70ef-5e7e-4bf4-80b2-3731f70bdc6e">Deals we love</h2><ul><li>Skip the theater: Catch your next movie from the couch instead. Our TV-testing expert recommends these <a target="_blank" href="https://www.businessinsider.com/guides/tech/home-theater-ideas-my-entertainment-setup">11 items for the perfect home theater setup</a>.</li><li>No more night sweats: We found the <a target="_blank" href="https://www.businessinsider.com/guides/style/best-cooling-pajamas">three best cooling pajama sets</a> for women to help hot sleepers chill out. Goodbye, hot and sticky nights; hello, beauty sleep.</li><li>Labor Day mattress deals: Here on the Reviews team, we've tested a lot of mattresses — and now <a target="_blank" href="https://www.businessinsider.com/guides/deals/labor-day-mattress-sales">tons of them are on sale ahead of Labor Day</a>.</li></ul><h2 id="3a2e4b99-8063-4f80-8653-d1ec4a2af89a">More of this week's top reads:</h2><ul><li>LA's hottest new club is <a target="_blank" href="https://www.businessinsider.com/alo-wellness-club-hot-spot-for-celebrities-and-influencers-la-2024-8">an invite-only fitness studio</a>.</li><li>A mom of two describes life after <a target="_blank" href="https://www.businessinsider.com/american-mom-expat-raising-kids-dubai-better-mother-relocation-uae-2024-8">moving from DC to Dubai</a>.</li><li>Goodbye backpacks. The cool kids are going back to school with <a target="_blank" href="https://www.businessinsider.com/longchamp-le-pliage-most-popular-back-to-school-bag-2024-8">a $155 Longchamp tote.</a></li><li>Review: Staying in a <a target="_blank" href="https://www.businessinsider.com/bungalow-inside-kruger-national-park-review-2024-8">bare-bones bungalow inside Kruger National Park</a>.</li><li>One of Oprah's former employees shares <a target="_blank" href="https://www.businessinsider.com/oprah-winfrey-best-business-lessons-taught-2024-8">what it's like to work for her</a>.</li><li>A longtime expat explains her <a target="_blank" href="https://www.businessinsider.com/british-expat-bought-one-way-ticket-to-singapore-2024-8">decision to move back to England</a>.</li><li>One local on the fight for the heart <a target="_blank" href="https://www.businessinsider.com/taiwan-jiufen-over-tourism-spirited-away-residents-challenges-tourist-trap-2024-8">of her tourist-ridden hometown</a>.</li><li>Heading to Spain? <a target="_blank" href="https://www.businessinsider.com/visit-zaragoza-instead-of-barcelona-spain-hidden-gem-2024-8">Try Zaragoza instead of Barcelona</a>.</li><li>Five Gen Zs and millennials explain <a target="_blank" href="https://www.businessinsider.com/millennial-gen-z-travel-debt-affirm-klarna-credit-cards-2024-8">how they pay for travel</a>.</li><li>Pop stars are criticizing "creepy" fan behavior. <a target="_blank" href="https://www.businessinsider.com/pop-stars-criticizing-fans-chappell-roan-taylor-swift-doja-cat-2024-8">Is music in its anti-fan era</a>?</li><li>Being less sedentary at work made one reporter <a target="_blank" href="https://www.businessinsider.com/i-tried-being-more-active-at-work-was-less-productive-2024-8">worse at her job</a>.</li><li>Venting about mutual friends may make you more likable. <a target="_blank" href="https://www.businessinsider.com/why-venting-can-make-people-like-you-more-friends-gossip-2024-8">It can also backfire</a>.</li><li>New side hustle: designing <a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/teacher-side-hustle-getting-paid-design-decorate-college-dorm-rooms-2024-8">decadent dorm rooms for college kids</a>.</li></ul>The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York City. <a target="_blank" href="https://www.businessinsider.com/author/lisa-ryan">Lisa Ryan</a>, executive editor, in New York. <a target="_blank" class="" href="https://www.businessinsider.com/author/amanda-yen">Amanda Yen</a>, fellow, in New York.

Insider Today: The Hamptons of Florida

<ul class="summary-list"><li>Dropbox is laying off 528 employees, about 20% of its workforce, and making the company flatter.</li><li>CEO Drew Houston said the cuts are due to softening demand, macro headwinds, and "excess layers of management."</li></ul>Dropbox is the <a target="_blank" class="" href="https://www.businessinsider.com/layoffs-sweeping-us-these-are-companies-making-cuts-2024">latest major company to slash its staff</a> and flatten its organizational structure.In <a target="_blank" class="" href="https://blog.dropbox.com/topics/company/an-update-from-drew">an email</a> sent to employees on Wednesday, CEO and cofounder Drew Houston announced that the cloud storage company is laying off 528 employees — roughly 20% of its workforce."As CEO, I take full responsibility for this decision and the circumstances that led to it, and I'm truly sorry to those impacted by this change," Houston wrote.These cuts come as the company is undergoing a "transitional period" as it focuses efforts on its maturing File Sync and Share (FSS) business and products like Dash, Dropbox's AI-powered work assistant."However, navigating this transition while maintaining our current structure and investment levels is no longer sustainable," Houston wrote.The <a target="_blank" class="" href="https://www.businessinsider.com/dropbox-ceo-drew-houston-ai-skills-2024-10">Dropbox chief</a> cited "softening demand and macro headwinds" in the company's core business."But external factors are only part of the story," he added. "We've heard from many of you that our organizational structure has become overly complex, with excess layers of management slowing us down."Houston said that the layoffs are targeting "over-invested or underperforming" areas.Dropbox is the latest example of a tech giant thinning out its management ranks to create a flatter organizational structure with the goal of moving faster. <a target="_blank" class="" href="https://www.businessinsider.com/amazon-return-to-office-mandate-bosses-morale-productivity-2024-9">Amazon recently announced a similar move</a> earlier this year, with CEO Andy Jassy saying he wanted senior leadership teams "to increase the ratio of individual contributors to managers by at least 15% by the end of Q1 2025." Mark Zuckerberg instituted manager cuts and increased the average number of direct reports for Meta managers after complaining about <a target="_blank" class="" href="https://www.businessinsider.com/mark-zuckerberg-flatter-org-chart-middle-managers-comments-2024-9">"managers managing managers."</a>Dropbox's layoffs come more than a year after the <a target="_blank" class="" href="https://blog.dropbox.com/topics/company/a-message-from-drew">company's decision</a> to cut around 16% of its workforce, or 500 employees, in April 2023. Houston's memo to employees at the time also attributed those layoffs to headwinds and freeing up investment bandwidth for more AI-powered products.Starting Wednesday, impacted workers will be eligible for 16 weeks of pay, with an additional week of pay for each completed year of tenure. They will also see their Q4 equity vest and access to free job placement and coaching services. Impacted employees can also keep their work-issued devices.Dropbox did not immediately respond to a request for additional comment from Business Insider.<h2 id="d8010f33-daab-4aa2-a20b-fedc9f323c66">Read the full memo below</h2>Hi everyone,I'm writing to let you all know that after careful consideration, we've decided to reduce our global workforce by approximately 20% or 528 Dropboxers.As CEO, I take full responsibility for this decision and the circumstances that led to it, and I'm truly sorry to those impacted by this change.<h3 id="4d7d696c-da0e-4ec7-9395-7f5fe6964cc9">Why we're making this decision</h3>As we've shared over the last year, we're in a transitional period as a company. Our FSS business has matured, and we've been working to build our next phase of growth with products like Dash. However, navigating this transition while maintaining our current structure and investment levels is no longer sustainable.We continue to see softening demand and macro headwinds in our core business. But external factors are only part of the story. We've heard from many of you that our organizational structure has become overly complex, with excess layers of management slowing us down.And while I'm proud of the progress we've made in the last couple years, in some parts of the business, we're still not delivering at the level our customers deserve or performing in line with industry peers. So we're making more significant cuts in areas where we're over-invested or underperforming while designing a flatter, more efficient team structure overall.<h3 id="f95df866-8ada-4f1d-83d5-27210e743f17">The opportunity ahead</h3>The changes we're making today, while difficult, come at a pivotal moment when the market is accelerating precisely where we've placed our biggest bets. It's been tremendously rewarding over the last few weeks to see customers and prospects light up when using Dash for Business for the first time, much like people did when we first launched Dropbox.And this time we're starting from a position of strength. Millions of customers trust us as the home for their most important files, making the leap to organizing all their cloud content a natural evolution.But we're not operating on our own schedule. This market is moving fast and investors are pouring hundreds of millions of dollars into this space. This both validates the opportunity we've been pursuing and underscores the need for even more urgency, even more aggressive investment, and decisive action.The steps we're taking today are necessary to both strengthen our core product and accelerate the growth of our new products. We'll share more about our 2025 strategy in the days ahead.<h3 id="a1cc4742-b924-4cc1-b9b0-68cd1209cf54">Taking care of impacted employees</h3>To those leaving Dropbox, we're committed to supporting you through this transition. You'll be eligible to receive the following benefits and support:Severance, equity, and transition payment<ul><li>All impacted employees will be eligible for sixteen weeks of pay, starting today, with one additional week of pay for each completed year of tenure at Dropbox. Internationally, severance packages will vary depending on regional practices and statutory requirements.</li><li>All impacted employees will receive their Q4 equity vest.</li><li>Those on the Corporate Bonus plan will be eligible to receive a pro-rated lump sum transition payment equivalent to their 2024 bonus target based on company performance forecasts and aligned with their level.</li><li>We will pay out eligible remaining current and approved upcoming paid leaves, including medical or family leaves.</li><li>We will support impacted visa holders by providing additional time to transition and access to 1:1 immigration consultation.</li></ul>Healthcare and benefits<ul><li>US employees will be eligible for up to six months of COBRA.</li><li>Canada-based employees will be eligible for a one-month healthcare extension.</li><li>All employees will continue to have access to Modern Health to support their mental well-being.</li></ul>Devices<ul><li>Impacted employees will be eligible to keep company devices (phones, tablets, laptops, and peripherals) for personal use.</li></ul>Job placement<ul><li>Job placement services and career coaching will be available at no cost.</li></ul><h3 id="a0830e98-5121-4b2c-bd22-65b3c43dfc98">Next steps</h3>We'll be sharing more details on high-level changes later today and will host company-wide Town Halls later this week to answer questions and discuss our plans in more detail.I know this is incredibly difficult and unwelcome news. To everyone leaving Dropbox, I'm deeply grateful for everything you've done for our company and our customers.Drew

Dropbox lays off 20% of employees and joins Big Tech's flattening trend. Read CEO Drew Houston's memo.

<ul class="summary-list"><li>Labubu, a furry plushie with an unsettling grin and serrated teeth, is all the rage in Asia.</li><li>Sold by Chinese toymaker Pop Mart, the toys fly off the shelves.</li></ul>Grace Lee remembers the first time she saw a Labubu. It had rabbit-like ears and spikey teeth — and her immediate thought was that it was ugly.But one day, the switch flipped, Lee, 36, said. After a colleague gifted her one in July, she started to look at it differently. "I don't know why, but I started collecting them," said the Singaporean, who works in operations."And the next thing I knew, I had, like, 12," she said.Lee is among the many who collect Labubu figurines, a toy that has taken Asia, and increasingly the West, by storm."Essentially, it's appealing because it's trendy, and trendy because it seems like something 'everybody' ─ at least in the target market's circle of influence ─ wants," said Joey Khong, a trends manager at market research firm Mintel.The toy is explicitly for adults: Labubu's product description reads, "Not suitable for persons under 15."Khong said the toys may be popular because they comfort tired corporate workers."Toys hold nostalgic value, offering comfort in an unpredictable world while also serving as affordable luxuries in a time of reduced disposable income due to rising costs," she said.<h2 id="03b7413c-c3de-45fd-80db-7162c0bc0490">The Labubu and Pop Mart phenomenon</h2><div type="image" title="Labubu dolls." height="408" width="612" msid="115318324" hostid="261" sizebytes="37590"></div>Kasing Lung, a Hong Kong artist, created Labubu about a decade ago. Pop Mart, a Beijing-based toymaker, then developed "The Monsters," a line of toys inspired by the character.Lung did not respond to a request for comment from Business Insider.According to Pop Mart's website, Lung "created a fairy world in three picture books inspired by Nordic mythology, and populated it with magical characters both good and evil.""Among them, the most prominent one was LABUBU, a small monster with high, pointed ears and serrated teeth," the website said. "Despite a mischievous look, LABUBU is kind-hearted and always wants to help, but often accidentally achieves the opposite."The larger plush dolls from "The Monsters" line are about 15 inches in height and cost about $85. Smaller dolls cost between $15 and $20.According to Pop Mart's 2024 interim report, released on August 20, "The Monsters" line generated sales of 6.3 billion Chinese yuan, or about $87 million, in the first half of the year. The company's stock is up nearly 260% this year.The toy is so immensely popular that it sells out minutes after it's restocked. On a visit to a Pop Mart store in Singapore, a staff member told BI that Labubus are the most sellable figurines."It's always out of stock," said Tony Lee, who has worked in Pop Mart for four years. "Even when we replenish, within an hour — or less than an hour — it's gone."He said Pop Mart typically restocks a few hundred figurines twice a week.Pop Mart doesn't announce when these restocks happen. Fans send updates to dedicated group chats on Telegram, and within less than 30 minutes of a restock, a "crazy line" forms outside the store, Lee said.Knockoffs of the toy are rampant on Asian e-commerce platforms like Shopee, Lazada, and Taobao.<h2 id="30a28e20-76e8-4a8d-8c53-b106a4e66caf">Celebrity endorsement played a huge role in Labubu's success</h2><div type="image" title="A queue outside Pop Mart" height="2712" width="3616" msid="115318321" hostid="261" sizebytes="1008176"></div>Retail analysts largely attribute the Labubu craze to <a target="_blank" class="" href="https://www.businessinsider.com/lisa-blackpink-acting-debut-on-the-white-lotus-hbo-2024-2">Lisa</a>, one of the four singers from the hit K-pop band Blackpink, who <a target="_blank" class="" href="https://www.teenvogue.com/story/blackpink-lisa-found-the-cutest-bag-charm-at-pop-mart">posted</a> the plush toy on her Instagram in April."I think the raging popularity of Labubu lies in its unique designs, emotional connection, exclusivity, and association with Lisa," said Sory Park, a project manager at Chinese consumer research firm Daxue Consulting.Juda Kanaprach, the cofounder of Southeast Asia-based market research firm Milieu Insight, said that the longtime popularity of collectible figures and designer toys in places like Japan, Hong Kong, and South Korea is now spreading to the rest of Asia. Pop Mart has 374 outlets in China alone."People are getting really into 'art toys' — they're kind of a mix of art, fashion, and pop culture all rolled into one," Kanaprach said."For a lot of millennials and Gen Zers, these aren't just toys. They're seen as little pieces of art or cool design items that look great in their homes. It's like adding a bit of personality and style to their space, not just something to play with," she added.In a statement to BI, a representative from Pop Mart said that Labubu has gained a strong global fan base."It's become more than just a collectible—it's a way for people to express themselves," they said.<h2 id="37e61215-fe06-4fde-a209-d7d009d9b1f9">Collectors say Labubu is worth the snaking lines</h2>When Sim Pei Yi heard from a group chat that Labubu toys were being restocked earlier this month, she rushed to a Singapore Pop Mart to join a snaking line with her colleague during lunchtime."There's a bit of a 'FOMO' feeling," said Sim, 31, who owns around six Labubu toys. "Everybody is getting Labubu. You will also want to have it."<div type="image" title="A girl holding her Labubu toys" height="4284" width="5712" msid="115318322" hostid="261" sizebytes="1370962"></div>Elsewhere in Asia, Ana Gonzales, 38, started collecting Labubus after her friends talked about it in a group chat. Labubu keyrings are difficult to get in the Philippines, so she buys "blind boxes" — toys that aren't labeled.Gonzales estimates that she's spent around $500 on her collection."For me, the real charm is in the blind boxes—not knowing what color you'll get adds so much excitement," Gonzales, a social media manager, said. "Opening a blind box after a long day or tiring week feels like unwrapping a gift to myself or a little reward."The love for Labubu toys has also spread to the US market. In September last year, Pop Mart opened its first permanent store in New Jersey. Now, there are 16 Pop Mart stores nationwide.Tracy Hsu, a 42-year-old housewife in California, learned about Labubu through Lisa — her favorite member of Black Pink."When I first met Labubu, it made me really happy," said Hsu. She has around 17 Labubu toys and said she spent over $10,000 on them. Once, she even camped outside a Pop Mart store for the latest drop.<div type="image" title="A girl camping outside a Pop Mart store" height="1099" width="825" msid="115318320" hostid="261" sizebytes="86082"></div>Her husband twice resorted to buying the toys from resellers at double the price. "I'm a little scared because there's a lot of fake ones," she said, adding that she requests to see receipts to ensure she's getting the real deal.<h2 id="f7e7859c-b4ac-460f-b5d0-67085c6a4f77">Emotional comfort toys are on the rise everywhere</h2>Labubu is not the first toy that has proven to be wildly popular with adults. Several other toymakers have <a target="_blank" class="" href="https://www.businessinsider.com/lonely-adults-driving-stuffed-animal-sales-for-self-care-2023-7">leveraged adult loneliness</a> to boost their brands.Squishmallows — round, squishy toys with smiling faces — were the top-selling toy in the US and Canada in 2022, according to market <a target="_blank" rel="noopener nofollow" href="https://www.npd.com/news/press-releases/2023/the-npd-group-u-s-toy-industry-retail-sales-flat-in-2022/">research firm Circana</a>.This even led to the term "<a target="_blank" class="" href="https://www.businessinsider.com/kidults-dominate-toy-industry-thanks-to-social-media-pandemic-2022-12">kidults</a>" being coined for consumers of toys over the age of 12, who turn to stuffed animals to alleviate feelings of anxiety and loneliness.For Grace Lee, the collector who owns 12 Labubus, collecting the toys not only brings her back to her childhood but also allows her to connect with a new community."Just hanging the toy on my bag opens conversations with people," she said. "It's quite a warm feeling."

A fluffy, $85 toy is taking Asia by storm and sparking legions of knockoffs. Inside the meteoric rise of Labubu.

<ul class="summary-list"><li>Steve McQueen's new film, "Blitz," focuses on the lives of civilians in London during World War II.</li><li>Star Saoirse Ronan said it was difficult to "escape" from the story in light of ongoing global conflicts.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/saoirse-ronan-movies-ranked-critics">Saoirse Ronan</a> has said that shooting the film "Blitz," which takes place in war-torn Britain in the 1940s, felt "incredibly relevant" against the backdrop of <a target="_blank" class="" href="https://www.businessinsider.com/category/russia-ukraine-war">conflicts around the world</a>.The Irish actor leads the cast of the new <a target="_blank" class="" href="https://www.businessinsider.com/steve-mcqueen-12-years-a-slave-moonlight-selma-2020-11">Steve McQueen film</a>, which premiered at the London Film Festival on October 9.Speaking at a press conference attended by Business Insider this week, Ronan said she found it difficult to "escape" from the story in light of current global conflicts.<a target="_blank" href="https://filmlondon.org.uk/latest/whats-filming-in-london-december-2022">Filming took place</a> in late 2022 and early 2023, during the first year of the Russia-Ukraine war."It was the first time I'd ever had the experience on a project where there wasn't really an escape from it," she said."I think the thing that made this so real as a filming experience is that you'd shoot certain scenes where there's total chaos and pandemonium, and we're having to portray characters in abject fear and horror," she continued. "And then you'd leave set, turn on the radio, and you'd hear exactly the same thing, or put on the news and see exactly the same thing."<div type="image" title="Stephen Graham, Steve Mcqueen, Saoirse Ronan, Elliott Heffernan, and Paul Weller attend the &quot;Blitz&quot; world premiere on October 9." height="4801" width="7079" msid="114174527" hostid="261" sizebytes="1454566"></div>"I don't know if it's insensitive to say that I was grateful for it, but it gave you so much motivation to continue on with the picture because it does feel incredibly relevant," she added. "It made it incredibly real."The cast of "Blitz" also includes Harris Dickinson, Paul Weller, Stephen Graham, Kathy Burke, and Benjamin Clementine. The film chronicles the lives of civilians during a sustained and intense Nazi bombing campaign during World War II known as the Blitz.The story largely centers on the experience of a nine-year-old child, George (played by newcomer Elliott Heffernan), who is evacuated to the countryside for his safety, leaving his mother, Rita (Ronan), behind.McQueen said at the press conference that he was inspired to write and direct "Blitz" after he came across a photo from the 1940s showing a young Black boy with a suitcase at a railway station while doing research for his previous project, "<a target="_blank" class="" href="https://www.businessinsider.com/review-steve-mcqueen-small-axe-amazon-prime-is-epic-triumph-2020-11">Small Axe</a>.""I thought, who is that child? I want to see the war through his eyes," McQueen said."Blitz" is set to be released in theaters on November 1 ahead of its streaming debut on Apple TV+ on November 22.

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