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<div type="image" title="Save yourself the trouble of buying physical gold this Diwali, and instead, go digital with Gold ETFs!" height="900" width="1200" msid="114507055" hostid="261" sizebytes="439216" caption="&amp;lt;p&amp;gt;Save yourself the trouble of buying physical gold this Diwali, and instead, go digital with Gold ETFs!&amp;lt;/p&amp;gt;"></div> Ah, <keyword id="18712" type="General" weightage="20" keywordseo="Gold" source="Orion">gold</keyword>! The shiny metal that's been making humans lose their minds since time immemorial. And yet, from <keyword id="23657519" type="General" weightage="20" keywordseo="king-midas" source="keywords">King Midas</keyword> to our neighbourhood aunty and even our moms (and secretly dads), everyone seems to have a super soft spot for the <keyword id="6384667" type="General" weightage="20" keywordseo="Bullion" source="Orion">bullion</keyword>. But here's the kicker: right now, gold prices are breaking all records on their upward trajectory! As of today, prices of 24k carat gold have passed the Rs 80,000 mark per 10 grams. And if experts are to be believed, this train isn't stopping anytime soon! So, as shiny as gold might look, adding even a bit of its glitter as we start decking up for the festive season might not be so easy on your pockets. But let's admit it—we love our gold and can't live without it. No wonder India is the second-largest consumer of the yellow metal in the world, only behind China. Such is our fondness for the metal that the <keyword id="20195223" type="General" weightage="20" keywordseo="world-gold-council" source="keywords">World Gold Council</keyword> had to up our 2024 annual demand forecast to 850 tonnes, up from the previously estimated 750 tonnes. However, our love for gold isn't just about looking fabulously embellished and blinding people with its bling. Indians also see gold as a long-term, trusty investment, supporting our other hard-earned assets, especially when high <keyword id="22195" type="General" weightage="20" keywordseo="Inflation" source="Orion">inflation</keyword> rates pull our returns down. After all, while inflationary pressures generally weaken the purchasing power of our regular paper money, gold is built differently. When the world is buckling to inflation, gold gains value during these times. This is also why it is considered a solid hedge against inflation. With <keyword id="188" type="General" weightage="20" keywordseo="Diwali" source="Orion">Diwali</keyword> and <keyword id="4067" type="General" weightage="20" keywordseo="Dhanteras" source="Orion">Dhanteras</keyword> knocking at our doors, the inflation demon continued to bother India like a guest who refused to leave. Just last month, the Consumer Price Index (CPI) stood at 5.49%, much higher than the anticipated levels. Moreover, the diverging policy stances among central bankers worldwide, growing geopolitical tensions, tough job markets, and extreme weather events are only adding to the uncertainty. In such economically uncertain times, what should your gold strategy be this festive season? To buy or not to buy, that is the question. Well, let’s get to it. <h2><keyword id="20050894" type="General" weightage="100" keywordseo="gold-etfs" source="keywords">Gold ETFs</keyword> to the rescue</h2>See, buying physical gold jewellery is certainly a flex, but also a financial fuss. First, you pay a heavy amount to buy gold. Not to mention all those extra, hefty jewellery-making charges. And then you pay even more money to keep it safe in a bank locker, lest it get stolen. But what if we tell you that you can own pure 24k gold, minus all these frills? Welcome, Gold ETFs (Exchange Traded Funds). Simply put, gold ETFs are like the cool cousins of your traditional gold investments. Instead of stashing gold bars under your mattress like those maniac millionaires we see in Bollywood films, you can now invest and trade in gold through the stock market. It's basically buying units of an <keyword id="19930506" type="General" weightage="20" keywordseo="etf" source="keywords">ETF</keyword> on the stock exchange that directly mirror the ongoing domestic prices of gold. Generally, gold ETFs are equivalent to 99.5% pure physical gold bars, and each ETF unit denotes actual, one gram of gold. And let's face it, who would not want that golden glow in their lives? Gold ETFs have witnessed an over seven-fold surge in their AUM (assets under management) in just the last five years. From Rs 5,613.22 crore in September 2019 to Rs 39,823.50 crore in September 2024, gold ETFs seem to be in-thing. Inflows in gold ETFs have shot up by a whopping 2,695% over the last 5 years. In September 2019, gold ETFs had garnered a mere Rs 44.11 crore. Compare that to the inflows worth Rs 1,232.99 crore gold ETFs received last month. Talk about growing, or glowing popularity! In fact, in just 2024, inflows in gold ETFs have surged by nearly 88% since the beginning of this calendar year. From Rs 657.46 crore in January 2024 to Rs 1,232.99 crore in September 2024, good old gold is never out of season. <h2>So, how do these ETFs work? Should I invest in them now?</h2>All you need is a Demat account. Log into your account, choose the gold ETF scheme you want to invest in, and voila! You’re now a bullion-aire! All your gold ETF units will be stored in this account. Then, you can buy and sell gold ETFs just like you buy shares—in real-time. So, if gold prices inch upwards, which is where gold is currently going, the value of your ETF units will also rise in lockstep. Ashwini Kumar, Senior Vice President and Head of Market Data at ICRA Analytics, says that of late, gold ETFs have been increasingly gaining popularity among investors due to the liquidity, safety and transparency they offer. "With the escalating global geopolitical tensions boosting the ‘safe-haven’ appeal of the bullion, investors are preferring to park their funds in gold ETFs as compared to investing in physical gold, as there is no hassle of storing it. The heightened activity in gold ETFs is also driven by the prospects of an imminent further interest rate cut by the <keyword id="20078761" type="General" weightage="20" keywordseo="u-s-federal-reserve" source="keywords">U.S. Federal Reserve</keyword> in the coming months,” he added. “Investors with a short- to medium-term investment horizon may consider investment through gold ETFs. A buy-on-dips strategy here may help investors capitalise on a temporary correction in prices. Also, given the current market dynamics where equities are showing mixed trends, a modest, 5-10% allocation to gold may serve as a hedge against inflation and market volatility, which may help you balance risks in an optimum manner,” Kumar noted. <h2>Wait, there is no dearth of options</h2>But if ETFs make you go WTF, there’s always digital gold. You can invest in the yellow metal without actually physically holding it for as low as Rs 1. The best part? You can buy or sell this gold 24 X7 seamlessly via multiple apps without having to pay storage costs. On your behalf, your gold is stored in insured vaults by the seller. But remember, digital gold continues to remain unregulated territory in the country, where you venture at your own risk. In 2021, market watchdog SEBI had even asked its members to desist from selling digital gold. Then there are gold mutual funds and the Sarkari SGBs, or sovereign gold bonds. While gold mutual funds invest primarily in gold ETFs, SGBs are issued by the RBI and are also a reliable substitute for holding physical gold. However, with the RBI currently putting brakes on issuing SGBs, investing in them is out of the question. Plus, you should only get your hands on SGBs if you're in for the long haul. Apart from a 2.5% p.a. interest, you don't have any yearly earnings from them. Moreover, no premature redemption is allowed before 5 years, and you'll have to wait a good 8 years to maximise your returns. <h2>Okay, tell me about returns</h2>In contrast, the seventeen gold ETF schemes currently present in the market offer an average one-year return of 29.12%. Stay with it a little longer, and you can end up with returns worth 16.93% and 13.59% over a 3- and 5-year period, respectively. If you look at it, these returns are comparable with the returns delivered by actual, physical gold. Data from Value Research indicates that gold, as a commodity, has delivered returns worth 27.24%, 16.53%, and 14.18% over a 1, 3, and 5-year period, respectively. So, worth investing, right? <h2>What are the risks?</h2>See, markets are as unpredictable as monsoons in Mumbai. One significant market correction can wash away your returns, and one sunny day or an upswing can leave you wallowing in wealth. Since your gold investments are directly linked to these markets, you should steel yourself up for some volatility. Plus, international gold prices are in dollars. So, if our rupee decides to take a nosedive, your returns might look a bit tarnished. Also, know that your ETF might not always perfectly mirror gold prices, which is also known as a tracking error. It's like expecting your Zomato-ordered food to look exactly like the picture on the menu—it's close, but not quite. Then there’s the taxation bit. The budget this year brought down the LTCG (long-term capital gains tax) on gold ETFs from the previous 20% to 12.5% (sans indexation). LTCG is what you pay if you sell your ETF units after 12 months. If you sell your gold ETF units within a year and make handsome returns, the tax you’ll have to pay will be equivalent to your income tax slab rate. <h2>Is gold just for old?</h2>A survey by fintech firm Moneyview thinks otherwise. Per their findings, over 85% of the 3,000 respondents it talked to considered gold to be a valuable asset for wealth preservation, with its intrinsic value and historical performance continuing to drive consumer confidence. Particularly, young investors in the age group of 25–40 years are also investing in gold via both physical and digital ways to build wealth for retirement and other long-term goals. So, young or old, everyone’s going for gold. So, this festive season, with gold prices going north, investing in gold can add that much-needed glitz to your financial attire. But remember, don't go overboard since gold isn't exactly a high-return-yielding asset. But whether you're a seasoned investor looking to diversify or a newbie trying to make their way in the markets, investing in gold offers you a glittering safety cushion. Just remember, while gold can make your portfolio shine, it's your smart investment decisions that truly make you golden. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified, and registered advisors for professional and personalised financial advice.

Simply put: Can investing in gold this festive season add the much-touted Midas touch to your investments?

<ul class="summary-list"><li>Before he was the vice president-elect or a senator, <a target="_blank" class="" href="https://www.businessinsider.com/trump-vice-president-jd-vance-career-facts-2024-7">JD Vance</a> was a venture capitalist.</li><li>He maintains ownership stakes in several funds, according to his disclosure forms.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/election-results-congress-historic-firsts-2024-11">JD Vance</a> is a man of many careers: attorney, author, senator, vice president-elect, and, perhaps less well-known, venture capitalist.For about six years between graduating from law school and becoming a United States senator from Ohio, Vance held various positions in the space before eventually starting his own fund, Narya Capital.Over his career, Vance has been involved in investments across a broad range of business areas. Through Narya, he continues to hold a portfolio of investments in several startups, though he gave up his role as a partner there in 2022 and doesn't actively run or advise any of the companies.<h2 id="4b0a6db6-89d6-4a96-93e8-e561475e4b10">Vance's early VC career</h2>After a brief stint at a now-defunct biotech startup, Vance got a job at his benefactor <a target="_blank" href="https://www.businessinsider.com/peter-thiel">Peter Thiel's</a> venture fund Mithril Capital.He went on to work as a managing partner at <a target="_blank" class="" href="https://www.businessinsider.com/rise-of-the-rest-steve-case-jd-vance-2018-1">Rise of the Rest</a>, part of Steve Case's Revolution venture firm. The fund's mission is to invest in companies outside major tech hubs — New York, Silicon Valley, Boston — and Vance, whose outsider persona was cemented by his memoir <a target="_blank" class="" href="https://www.businessinsider.com/jd-vance-hillbilly-elegy-transformation-trump-vice-president-2024-7">"Hillbilly Elegy"</a>, was <a target="_blank" class="" href="https://www.businessinsider.com/jd-vance-venture-capital-opioid-nonprofit-tech-record-ohio-senate-2021-8">seen as a perfect fit for the fund</a>.Vance was active in a number of deals for the firm, including leading investments in storage-sharing startup Neighbor, agtech company AppHarvest, and AI outfit Pryon, Rise of the Rest confirmed.<h2 id="114f37cf-0035-49cd-8b40-1bd02d5bdb6c">Vance co-founded Narya Capital in 2019</h2>After two years, Vance broke out on his own, cofounding <a target="_blank" href="https://www.businessinsider.com/hillbilly-elegy-jd-vance-launches-vc-fund-backed-by-thiel-2020-1">Narya Capital</a> in 2019 with investments from Thiel, former Google CEO Eric Schmidt, and VC veteran Marc Andreessen.Vance still owns pieces of the funds that he helped advise. According to his vice president and senate disclosure forms, he has a stake in Narya Capital Fund I, Narya Capital Fund II, and Rise of the Rest Seed Fund.His stake in Narya Capital Fund I is worth between $500,001 and $1 million. His holdings through Narya's Capital Fund II and the Rise of the Rest's Seed Fund are smaller, worth as much as $15,000 and $250,000, respectively, according to his disclosure forms.Through all three funds, he holds a portfolio of investments in dozens of startups. He doesn't actively run or advise any of the companies, and gave up his role as a partner in Narya in December 2022 after winning his senate seat, according to disclosure forms.It's not entirely clear which Rise of the Rest companies Vance has a stake in. The fund has two $150 million investment vehicles and did not disclose which portfolio companies are in which fund.Narya, meanwhile, has only completed one fundraise so far — its $120 million Fund I. The fund has a dozen active investments, according to its website, and because Vance has a stake in the fund, he technically owns a stake in each.The companies vary in their mission: One is a gene therapy company founded by Vivek Ramaswamy's brother, while another is a Catholic meditation and prayer app. Thiel, one of Vance's mentors, is listed as a separate investor in many of the companies, per PitchBook.Some are the type of companies that could work with the government.True Anomaly, an aerospace company for which Narya participated in two rounds of funding, <a target="_blank" class="" href="https://www.trueanomaly.space/newsroom/true-anomaly-selected-for-30m-space-systems-command-contract-in-support-of-victus-haze-tactically-responsive-space-mission">won a $30 million government contract</a> from the US Space Force in April. ValueBase, a property valuation software, lists local governments among its customer base on its website.Nayra has had two exits: <a target="_blank" class="" href="https://www.businessinsider.com/what-is-rumble-conservative-video-youtube-competitor-joe-rogan-2022-2">Rumble</a>, the conservative-leaning social video platform that went public in 2022, and AppHarvest, which went public in 2021.Criminal conflict of interest laws do not apply to the president and vice president.Luke Schroeder, a spokesperson for the vice president-elect, said that Vance has complied with all required disclosures and is not directly involved in the funds.<h2 id="883278a9-d442-4e81-aeb4-b282861515b7">Here are Narya's current portfolio companies</h2>Deal details, unless noted with a comment from the company, come from PitchBook.<table style="width: 652px"></colgroup></colgroup><tbody><tr><td>Company</td><td>Industry</td><td>Deal Description</td></tr><tr><td colspan="1" rowspan="1">AcreTrader</td><td colspan="1" rowspan="1">Farmland investment</td><td colspan="1" rowspan="1">Narya contributed to AcreTrader's $12 million Series B round in 2021. "Senator Vance has no involvement in AcreTrader's operations or strategic direction," the company said.</td></tr><tr><td colspan="1" rowspan="1">AmplifyBio</td><td colspan="1" rowspan="1">Biotech</td><td colspan="1" rowspan="1">Narya took part in the company's $200 million, early-stage investment round in 2021.</td></tr><tr><td colspan="1" rowspan="1">Atomic Industries</td><td colspan="1" rowspan="1">Manufacturing</td><td colspan="1" rowspan="1">In 2023, Narya contributed to a $16.5 million early-stage round.</td></tr><tr><td colspan="1" rowspan="1">Branch</td><td colspan="1" rowspan="1">Insurance</td><td colspan="1" rowspan="1">Narya took part in Branch's 2022 $147 million Series C. During his time at Rise of the Rest, Vance led an investment in Branch.</td></tr><tr><td colspan="1" rowspan="1">Chapter</td><td colspan="1" rowspan="1">Medicare advisory</td><td colspan="1" rowspan="1">Narya contributed to three of Chapter's fundraising rounds: A 2021 $17 million Series A round, 2022 $42 million Series B round, and 2024 $50 million Series C round. Peter Thiel is also an investor in Chapter.</td></tr><tr><td colspan="1" rowspan="1">Hallow</td><td colspan="1" rowspan="1">Religion</td><td colspan="1" rowspan="1">Narya invested in Hallow's 2021 $40 million Series B round."We worked with another partner at the fund on the investment - not with JD at all," Alex Jones, Hallow's CEO, told BI. Thiel is also an investor in Hallow.</td></tr><tr><td colspan="1" rowspan="1">Kriya Therapeutics</td><td colspan="1" rowspan="1">Gene therapy</td><td colspan="1" rowspan="1">Narya contributed to three of Kriya's funding rounds, including a $87.6 million Series A in 2020, $100 million Series B in 2021, and $430 million Series C in 2023. Kriya Therapeutics is founded by Shankar Ramaswamy, the brother of Vivek Ramaswamy.</td></tr><tr><td colspan="1" rowspan="1">Realm Alliance</td><td colspan="1" rowspan="1">Security services</td><td colspan="1" rowspan="1">Earlier this year, Narya took part in Realm Alliance's seed round.</td></tr><tr><td colspan="1" rowspan="1">Strive</td><td colspan="1" rowspan="1">Asset Management</td><td colspan="1" rowspan="1">Narya invested in Strive's $20 million seed round in 2022 and $30 million Series B earlier this year. Thiel is also an investor in Strive.</td></tr><tr><td colspan="1" rowspan="1">True Anomaly</td><td colspan="1" rowspan="1">Space</td><td colspan="1" rowspan="1">Narya contributed to True Anomaly's $100 million Series B in 2023 and $17 million Series A in 2022. The company won a contract from the US government earlier this year.</td></tr><tr><td colspan="1" rowspan="1">ValueBase</td><td colspan="1" rowspan="1">Property valuation</td><td colspan="1" rowspan="1">Narya took part in ValueBase's $6.3 million seed round earlier this year.</td></tr></tbody></table>

Before politics, JD Vance had a career in venture capital. Here are the startups he's invested in.

<ul class="summary-list"><li>Microsoft disclosed an equity investment in OpenAI for the first time, SEC filings show.</li><li>Microsoft previously disclosed its relationship with OpenAI as only a "partnership."</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/microsoft-lost-billions-hololens-ivas-contract-trouble-2024-10">Microsoft</a> disclosed an equity investment in <a target="_blank" class="" href="https://www.businessinsider.com/openai-ai-adjusted-earnings-groupon-wework-accounting-2024-10">OpenAI</a> for the first time, according to its latest SEC filings.On Wednesday, the company released its quarterly results. In legally required disclosures, Microsoft included information about <a target="_blank" class="" href="https://www.businessinsider.com/microsoft-satya-nadella-openai-partnership-competition-collaboration-2024-5">its relationship with OpenAI</a>."We have an investment in OpenAI Global, LLC ("OpenAI") and have made total funding commitments of $13 billion," Microsoft wrote in the <a target="_blank" class="" href="https://www.sec.gov/Archives/edgar/data/789019/000095017024118967/msft-20240930.htm">SEC filing</a> on Wednesday. "The investment is accounted for under the equity method of accounting."Accounting expert Francine McKenna told Business Insider that the new disclosure suggests that Microsoft's previous investments in OpenAI were "soft money," such as discounts or credits for services and internal spending that fell below a certain threshold where the software giant didn't need to publicly disclose details.The latest "equity method investment" disclosure signals that Microsoft recently purchased stock or share rights in OpenAI, instead of just partnering, said McKenna, who writes <a target="_blank" class="" href="https://thedig.substack.com">The Dig</a> newsletter. In early October, OpenAI completed a $6.6 billion funding round and Microsoft took part in that deal. OpenAI also began a process of changing from a mostly non-profit organization to a more traiditional for-profit business. In a previous SEC filing, Microsoft described the nature of its relationship with OpenAI as a partnership rather than an equity investment."We have a long-term partnership with OpenAI, a leading AI research and deployment company," Microsoft wrote in its annual SEC filing from late July. "We deploy OpenAI's models across our consumer and enterprise products. As OpenAI's exclusive cloud provider, Azure powers all of OpenAI's workloads. We have also increased our investments in the development and deployment of specialized supercomputing systems to accelerate OpenAI's research."Microsoft's has had a relationship with OpenAI since 2019, using the startup's large language models to underpin its own generative AI products, such as its AI assistant Copilot. In return, Microsoft provides OpenAI with massive cloud-computing resources. The relationship between the companies has evolved in recent months. In the July filing, Microsoft listed OpenAI as a competitor for the first time.Are you a Microsoft employee or someone else with insight to share?Contact Ashley Stewart via the encrypted messaging app Signal (+1-425-344-8242) or email (<a target="_blank" href="mailto:astewart@businessinsider.com">astewart@businessinsider.com</a>). Use a nonwork device.

Microsoft hints at a big change to its OpenAI investments in a new SEC filing

The finance guru <a target="_blank" class="" href="https://www.businessinsider.com/dave-ramsey-buying-house-prices-mortgages-personal-finance-affordability-crisis-2024-6">Dave Ramsey</a> famously said that if Americans wanted to build wealth, they should give up their morning coffee. But spend any time in certain corners of personal-finance Instagram and TikTok and you'll see women indulging in sleek caffeinated beverages. They swirl whipped cream on their tall iced coffees, brew black-sesame-matcha lattes, and show off hot chocolate and pastries as they promote strategies to save, invest, and make the most of their credit-card points. These women <a target="_blank" class="" href="https://www.businessinsider.com/multimillionaire-chooses-to-rent-not-buy-home-2024-6">talk openly about being rich</a> and wanting to help other women become rich too.One of those influencers is Tori Dunlap, the founder of a financial-education company called <a target="_blank" class="" href="https://www.businessinsider.com/how-to-start-business-with-no-money-her-first-100k-2023-1">Her First 100K</a>. She aspires to get as many young women as possible investing and to debunk the notion that in order to build wealth they need to deprive themselves of things they enjoy. In a <a target="_blank" href="https://www.instagram.com/reel/CzzfzhsPAr-/">video</a> on Instagram, she considers Ramsey's advice, then erupts into a scream. "It's not the latte that's keeping you from saving money," she wrote in the caption. "It's the systemic oppression."Just a handful of years ago, Dunlap, who was born in Tacoma, Washington, was working a job in marketing and dealing with a toxic boss. Thanks to an emergency fund she'd grown, she was able to quit and start focusing on building Her First 100K — named for Dunlap's goal of <a target="_blank" class="" href="https://www.businessinsider.com/how-to-save-money-in-your-twenties-2024-4">amassing $100,000 in wealth</a>, which she achieved by the time she was 25 by budgeting and investing.Now, Dunlap, 30, has over 2 million followers on Instagram, hosts a <a target="_blank" href="https://www.businessinsider.com/tori-dunlap-new-podcast-hit-top-spot-apple-charts-2021-6">top-rated US business podcast</a>, and is the author of the best-selling book "Financial Feminist." She also launched a platform called Treasury, which says it has helped women invest over $80 million in the stock market. Alongside creators like <a target="_blank" class="" href="https://www.businessinsider.com/instagram-star-mrsdowjones-shares-an-inside-look-day-in-life-2020-10">Mrs. Dow Jones</a>, Simran Kaur, and Rachel Rodgers, Dunlap is a leader of a new wave of personal-finance education focused on teaching Gen Z and millennial women the fundamentals of <a target="_blank" class="" href="https://www.businessinsider.com/feminist-finance-coach-reveals-retirement-blunder-costing-people-millions-2023-5">earning, paying off debt, and investing</a>, using a savvy blend of traditional financial advice, irreverent social commentary, and high-travel memes. You can think of it as financial education for the "<a target="_blank" class="" href="https://www.businessinsider.com/tiktok-anti-work-girl-boss-lazy-girl-jobs-2023-6">lazy-girl job</a>" generation — those who decry the corporate hustle and seek out low-stress jobs that don't take over their lives. In <a target="_blank" href="https://www.instagram.com/p/C6Mjz8dRxOR/?hl=en">one video</a>, Kaur, the New Zealand-based <a target="_blank" class="" href="https://www.businessinsider.com/girls-that-invest-founder-media-company-podcast-instagram-tiktok-revenue-2023-9">creator of Girls That Invest</a>, does her makeup in front of a mirror as she discusses how she's using her investment earnings to build her own trust fund to live on. The message? You too can invest your way out of the 9-to-5 life.If you ask these women, however, they'll say the trend has nothing to do with being lazy and everything to do with giving women the tools they need to take control of their financial destiny. "We're taking something very inaccessible and making it accessible," Dunlap said. If men can use their financial savvy to get rich, then so can women. And in a world where many <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-most-financially-savvy-generation-retirement-saving-investing-2023-11">Gen Zers and millennials expect to be working well past retirement age</a>, the advice is finding an eager audience.On the first day of her first full-time job out of college in 2018, Haley Sacks was asked to fill out her health insurance and 401(k) contributions. "I really wanted to make a good impression, so that night I went home and did what any self-respecting millennial would do," the New York native said. "I looked on YouTube for information, and I was really taken aback by what I found."Nearly all the financial-education content geared toward women focused on home-economics fare like saving and budgeting, she said. Meanwhile, the content she actually needed, which explained the fundamentals of investing, not only was "very dry" but seemed primarily made with a male audience in mind. "I couldn't really find anyone who was teaching money the way that I wanted to learn it," Sacks said. "So I became her." Now, six years later, Sacks, who goes by Mrs. Dow Jones on social media, has 1 million followers on Instagram, where she posts pop-culture-inflected videos on topics like <a target="_blank" href="https://www.instagram.com/p/C3qgCggOZxh/?hl=en">how to predict layoffs at your job</a> and why the<a target="_blank" href="https://www.instagram.com/p/C6cP5t4rxtu/?hl=en"> Cartier Love bracelets</a> Kylie Jenner is famous for wearing may not be a good investment.People like Sacks and Dunlap aren't the first female celebrity personal-finance experts. Sacks pointed to <a target="_blank" class="" href="https://www.businessinsider.com/suze-orman-astrology-burnout-why-millennials-shouldnt-buy-coffee-2020-3">Suze Orman</a> — the pioneering personal-finance guru, author, and TV host — as someone who "walked so all of us could run." But until recently, women looking to wrap their heads around the intricacies of high-interest savings accounts and low-cost index funds had scant few options that spoke directly to them. Personal-finance education in US high schools used to be rare — though it's gotten better in the last few years with half of US states now mandating it. And women-specific financial-education literature tended to focus less on investing in real estate or negotiating a higher salary than on learning how to curb one's spending on supposedly "frivolous" items like coffee, manicures, and haircuts. The message, Dunlap said, boiled down to: "Men get to be millionaires by making more money and being the fullest version of themselves. The way to become a millionaire for women is to basically hate your life." On one level, these influencers are offering well-trodden financial advice packaged for a new audience: Dunlap's book has sections on <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/banking/what-is-an-emergency-fund">building an emergency fund</a>, <a target="_blank" class="" href="https://www.businessinsider.com/paid-off-credit-card-debt-solid-plan-2024-6">getting out of debt</a>, and <a target="_blank" class="" href="https://www.businessinsider.com/millennial-retired-early-financial-independence-fire-strategies-six-figure-income-2024-5">investing for retirement</a>. She said women comprise 95% of her audience. "We joke that it's largely girls, gays, and theys," she said. Sacks, who calls herself a "zillennial finance expert," said that her content is aimed at people of all genders but that women tend to gravitate to it because of the person who's talking. "We all have the same message," Sacks said. "It's sort of like finding the right trainer who motivates you."These influencers do break from tradition in a few key ways. Citing high interest rates, rising home prices, and a booming stock market, Sacks and Dunlap have made the case for <a target="_blank" class="" href="https://www.businessinsider.com/renting-vs-buying-homeownership-wont-make-genz-rich-increase-wealth-2024-7">renting instead of buying</a>. In "Financial Feminist," Dunlap recommends readers focus on building a three- to six-month emergency fund before paying off debt so they're prepared for a layoff or dangerous home situation. Sacks recommends young people job-hop to keep up with inflation and cost-of-living increases if necessary. "You should be making 15% more every single year," she said. "And if you're not making that at your current job, then you should change jobs." (<a target="_blank" href="https://www.epi.org/nominal-wage-tracker/">Research from the Economic Policy Institute</a> indicates that since 2007 US employees have received an average wage increase of 3.9% a year.)Rita Soledad Fernández Paulino, a California-based money coach and creator focused on women, BIPOC, and LGBTQ+ people, said their goal is to help people become "work-optional" by leveraging their investments. "I like the idea of everyone working because they want to and not because they have to," they said.Leah Sheppard, a professor of management and associate dean for equity and inclusion at Washington State University's Carson College of Business, sees this wave of financial education as a reflection of an awareness among Gen Zers and millennials that the <a target="_blank" class="" href="https://www.businessinsider.com/loyalty-employee-employer-job-security-broken-work-companies-bosses-2024-1">boomer-era version of the American dream</a> — where you work your way up the ladder for 40 years at a single employer and put away enough to retire — no longer applies to them. "Young people are thinking, 'When will I get to a place where I don't really have to worry about money?'" she said. "If they're thinking, 'Traditional employment is not working well, I don't want to start a business' — well, what's the other way? And it's probably getting really smart about how you save money, taking the money that you are saving and investing it and building wealth." Sacks sees it as a matter of young people wanting to take the future into their own hands. "You have to be more self-reliant now than our parents ever had to be," she said.Kyla Scanlon, the author of the 2024 book "In This Economy?", sees the interest in financial-education content on social media as symptomatic of a curiosity about alternative revenue streams, spurred by the rise of <a target="_blank" class="" href="https://www.businessinsider.com/robinhood-collapse-what-happened-retail-investing-meme-stocks-future-finance-2022-2">fintech apps like Robinhood</a> and populist financial movements like crypto and GameStop. "People are looking at the market. They're looking at different income sources, Airbnb, the gigification of everything — and then just how do you have passive income outside of traditional income?" Scanlon said.For <a target="_blank" href="https://www.businessinsider.com/gambling-young-men-sports-betting-crypto-meme-stock-market-addiction-2024-4">young men, this often takes the shape of riskier investments</a> like sports gambling, crypto, and meme stocks. Young women, on the other hand, are turning to more tried-and-true tactics.In a survey of 2,000 adults conducted in July 2023, Fidelity Investments found that Gen Z women were more likely to say they participated in the stock market than any other age group, with 71% of women ages 18 to 26 saying they had invested, compared with 63% of millennial women and 57% of boomer women. These figures dovetail with an uptick in the percentage of people under 35 who held stocks and retirement accounts in 2022 compared with 2019, according to the Federal Reserve's Survey of Consumer Finances, though the Fed doesn't break these figures down by gender.Whether the goal is to retire early or to job-hop your way to a six-figure salary, this wave of financial advice departs from the "lean-in," <a target="_blank" class="" href="https://www.businessinsider.com/rise-and-fall-girl-boss-analysis-2020-7">"girlboss" flavor of feminism</a> that dominated conversations about women and work in the 2010s. "We're just more disillusioned with corporate," Dunlap said. "We're more disillusioned with the way we make money."Instead, it's advice for a generation of women who see their experiences reflected in <a target="_blank" class="" href="https://www.businessinsider.com/lazy-girl-job-is-just-a-healthy-job-2023-12">memes like the "lazy-girl job."</a> "The lazy-girl thing is just like, 'Oh, give me a little bit of rest in addition to my work,'" Dunlap said. "I think that's completely reasonable." But talking about this stuff in public as a woman or queer person can be fraught. Dunlap said she gets "called every insulting thing you can call a woman on a daily basis" and has been on the receiving end of death threats. She said people aren't used to seeing women talking in public about money, and especially not about being rich. "We have different expectations for how men and women should behave, especially around money," she said. "Women shouldn't want it. You should be grateful for the things you have."Other women BI spoke with said they faced harassment. "There's a certain group of men who just don't like women," Scanlon said. But for the most part, the influencers stressed that their content was resonating with the people it was supposed to resonate with. "The comments section on any video is a mess, but it's also the most supportive, lovely thing," Dunlap said. "So many women, championing me, championing each other, championing themselves."The experts BI spoke with all had their own ways of describing the movement. Fernández Paulino said they see themself as belonging to a community of people who approach money and finance in a way that acknowledges the systemic issues that interfere with people's wealth and wellness — such as the economic effects of structural racism and transphobia, or the fact that American women weren't allowed to own a credit card or take out a mortgage in their own name until the 1970s. "For me, it's like, I can have wealth too. You can have wealth too. It's not a you problem; it's a we problem," they said.Dunlap invented her own term to describe it: financial feminism. "It's this idea of getting yourself financially to a point where you are stable, safe, and you have enough wealth to have options, and then using that wealth as a tool to make an impact," she said. In other words, she wants to help women navigate the economic systems we're all swimming in, so they can help other women by changing those systems from within.<a target="_blank" rel="" href="https://www.businessinsider.com/author/emilie-friedlander">Emilie Friedlander</a> is a journalist and editor from Brooklyn, currently based in Philadelphia. She co-hosts <a target="_blank" rel=" nofollow" href="https://theculturejournalist.substack.com/">The Culture Journalist</a>, a podcast about culture in the age of platforms.

Gen Zers are investing their way out of the 9-to-5

<ul class="summary-list"><li>Canaccord Genuity is hiring ex-WPP dealmaker Lance Maerov to work on ad and media M&amp;A.</li><li>Maerov's hiring suggests there could be a coming rise in deals on Madison Avenue.</li></ul>Canadian investment bank Canaccord Genuity is hiring a former top dealmaker at advertising giant <a target="_blank" class="" href="https://www.businessinsider.com/inside-wpps-volatile-year-2023-12">WPP</a> to join its advertising and media mergers and acquisitions practice, Business Insider can exclusively reveal.<a target="_blank" class="" href="https://www.businessinsider.com/top-execs-leading-ad-industry-mergers-aquisitions-2021-8#andrew-scott-chief-operating-officer-wpp-11">Lance Maerov</a>, who left WPP in December, is set to join Canaccord Genuity's technology, media, marketing, and information M&amp;A practice, two people familiar with the matter told BI. The company informed staff earlier this week, one of the people said. They requested anonymity in order to maintain business relationships. Their identities are known to BI.Canaccord Genuity didn't respond to requests for comment.The move to expand the bank's media and advertising practice by hiring a prolific Madison Avenue dealmaker is a strong signal that acquisitions in the agency space could heat up. Recent Canaccord Genuity deals in the ad and media space include the sale of <a target="_blank" class="" href="https://www.marketingdive.com/news/publicis-acquires-mars-united-commerce-full-funnel-marketing/727539/">Mars United Commerce</a> to Publicis Groupe, Verve Group's acquisition of <a target="_blank" class="" href="https://www.adexchanger.com/mobile/verve-acquires-jun-group-a-mobile-video-and-gaming-network-for-185-million/">Jun Group</a>, and <a target="_blank" class="" href="https://www.adexchanger.com/omnichannel-2/cadent-acquires-adtheorent-for-324-million-with-a-plan-for-performance-tv/">AdTheorent</a>'s sale to Novacap-owned Cadent.<h2 id="7487460d-0072-4efb-a442-7c2e88683789">The advertising industry is undergoing radical change that's fueling deal activity</h2>The advertising agency landscape has transformed in recent years amid the advent of digital marketing and the emergence of new technology and practices, from <a target="_blank" class="" href="https://www.businessinsider.com/how-ai-changing-advertising-agency-business-2023-9">artificial intelligence</a> to <a target="_blank" class="" href="https://www.businessinsider.com/retail-media-advertising-surges-challenging-google-traditional-channels-2023-9">retail media</a>. Agencies have responded by adapting their services to suit a broader array of client needs than simply creating and buying their ads, as in decades past.It's been marked by a wave of high-profile acquisitions, such as Publicis Groupe's $4.4 billion purchase of the data business <a target="_blank" class="" href="https://www.businessinsider.com/publicis-acquires-epsilon-for-44-billion-but-marketers-say-combining-forces-will-be-a-challenge-2019-4">Epsilon in 2019</a> and, more recently, Omnicom acquiring e-commerce specialist <a target="_blank" class="" href="https://www.thedrum.com/news/2024/01/19/inside-the-omnicom-flywheel-merger-with-john-wren-jonathan-nelson-duncan-painter">Flywheel Digital</a> for $835 million last year.The varying fortunes of different ad-holding companies, as well as an emergence of new entrants — and a growing interest in the space <a target="_blank" class="" href="https://www.businessinsider.com/private-equity-firms-investing-in-advertising-and-marketing-companies-2024-3">from private equity</a> — have also fueled speculation that agency groups, too, could be merged or acquired.Rumors continue to buzz in the industry about what might be <a target="_blank" class="" href="https://www.businessinsider.com/insiders-question-ad-giant-wpp-ceo-mark-reads-bounceback-plan-2023-10">next for WPP</a>, once the leader of the pack, whose market value has dropped well below that of arch-rivals Publicis and Omnicom. (On Wednesday, WPP reported <a target="_blank" class="" href="https://www.wsj.com/business/earnings/wpp-returns-to-growth-beating-expectations-9a85cd15?mod=media_news_article_pos1">a return to revenue growth</a> in its third quarter, which analysts generally hadn't expected.)The Wall Street Journal reported this summer that IPG was in talks to sell R/GA, its digital agency famed for its work on Nike, <a target="_blank" class="" href="https://www.wsj.com/business/media/interpublic-explores-sale-of-prominent-digital-agency-to-consulting-giant-b96f8eed">to Tata Global Consulting</a>. S4 Capital, led by former WPP chief Martin Sorrell, turned down an acquisition offer from <a target="_blank" class="" href="https://www.wsj.com/business/media/he-was-the-ad-industrys-hunter-now-hes-the-prey-65a12b99">rival firm Stagwell</a> earlier this year, The Wall Street Journal first reported.Maerov, who worked under Sorrell at WPP as its EVP of corporate development, was responsible for the company's M&amp;A and venture capital investments. He also worked closely with current CEO Mark Read and chief operating officer Andrew Scott.Maerov worked for WPP for more than 20 years, during which time it made transformative acquisitions, such as the 2007 purchase of digital marketing company <a target="_blank" class="" href="https://techcrunch.com/2007/05/17/wpp-acquires-247-real-media-for-649m/">24/7 Real Media</a> and the 2015 acquisition of <a target="_blank" href="https://www.businessinsider.com/rob-norman-on-why-wpps-groupm-acquired-essence-digital-2015-11">British media agency Essence</a>.Through WPP's investments, Maerov sat on the board of companies including The Weinstein Company, Vice Media, IT firm Globant, and the lifestyle website Refinery29. He would later <a target="_blank" class="" href="https://www.hollywoodreporter.com/business/business-news/weinstein-board-member-lance-maerov-testifies-harvey-weinstein-1272131/">testify</a> against Harvey Weinstein in the trial that ultimately sent the movie mogul to <a target="_blank" class="" href="https://www.businessinsider.com/harvey-weinstein-found-guilty-sexual-assault-rape-in-trial-verdict-2020-2">jail</a>.This year, Maerov branched out on his own, launching Dinmont Ridge, a strategic advice and investment-capital consulting firm.

WPP's former dealmaker is joining investment bank Canaccord Genuity — a sign advertising M&A could heat up

<ul class="summary-list"><li>Eva Longoria saved "John Wick" by providing crucial gap financing at the last minute.</li><li>The film faced a financial crisis, risking shutdown before Longoria's intervention.</li></ul>"John Wick" is regarded today as a modern action classic. As it turns out, Eva Longoria played a large part in making that happen.A decade ago, when directors Chad Stahelski and David Leitch were putting the final touches on the Keanu Reeves revenge movie, they received news no filmmaker wants to hear: the production had run out of money."We were less than a week out and we lost almost $6 million on a gap financing," Stahelski <a target="_blank" class="" href="https://www.businessinsider.com/john-wick-keanu-reeves-popularity-chad-stahelski-david-leitch-interview-2024-10">told Business Insider in an interview celebrating the movie's tenth anniversary</a>. "We were financing independently to get the bond, but one of the investors couldn't raise the money in time."By that point, Stahelski, Leitch, and Reeves had put their own money into the movie — producer Basil Iwanyk had even maxed out three credit cards. It seemed like "John Wick" might never see the light of day.But behind the scenes, someone threw a Hail Mary. CAA, which was putting the financing together, offered some of its actors who had bankroll the opportunity to invest, Leitch explained to BI. It promised they'd be the first to get paid back.<div type="image" title="Eva Longoria in a shiny dress" height="2649" width="3532" msid="114478600" hostid="261" sizebytes="560870"></div>Eva Longoria answered the call, and "John Wick" became her first major producer credit.Since becoming a household name on the hit 2000s TV series "Desperate Housewives," Longoria has become a producing power player with her production company, UnbeliEVAable Entertainment, which she founded in 2005 (it was acquired in 2023 by Hyphenate Media Group, which Longoria cofounded). She's since produced the Lifetime series "Devious Maids," which ran from 2013-2016; the 2015 NBC series "Telenovela," and the 2019 ABC series "Grand Hotel.""She came to the rescue and she provided the gap financing, literally less than 24 hours before we had to lock the doors on the movie and walk away," Stahelski said, noting that producer Iwanyk never revealed who came through with the money until after "John Wick" became a hit."Basil took us out to dinner, and we were laughing about all the bullshit that happened, and he said, 'By the way, funny story, you know who gap financed you? Eva Longoria.' We were were like, 'What!'" Stahelski said.<div type="image" title="Chad Stahelski, David Leitch and Keanu Reeves in black suits standing next to each other" height="1993" width="3000" msid="114478599" hostid="261" sizebytes="130254"></div>Stahelski and Leitch had never met Longoria, so they took her to lunch at the Chateau Marmont."She was laughing going, 'I didn't think it was going to work,'" Stahelski said.When Leitch ran into Longoria last year at an event, they couldn't help but talk about "John Wick.""We were reminiscing," he said. "She was like, 'Wow, that was the best money I've ever spent.' It paid back significantly for her." ("John Wick" went on to earn over $86 million worldwide on a $20 million budget.)So, has this opened the door for Longoria to go on screen in an action movie?"She wants to for sure, she wants to do action," Leitch said. "I would love to work with her, we're trying to find something."

Eva Longoria invested $6 million of her own money to save 'John Wick' — and the directors didn't even know

Markets regulator <keyword id="19901201" type="General" weightage="100" keywordseo="Sebi" source="keywords" meta.keywordsubtype="org" meta.entityname="Sebi" meta.hostid="153" meta.entityid="Sebi">SEBI</keyword> has asked the <keyword id="20677983" type="General" weightage="20" keywordseo="mutual-fund-industry" source="keywords">mutual fund industry</keyword> to proactively conduct stress tests, a key component of <keyword id="20383727" type="General" weightage="20" keywordseo="risk-management" source="keywords">risk management</keyword> for the financial sector, which will help strengthen the ecosystem, its whole-time member Ananth Narayan Gopalakrishnan said on Friday. The regulator's stress testing emphasizes the need to assess and manage liquidity risks, especially in small and midcap equity schemes. Speaking at a mutual fund event, Gopalakrishnan highlighted the importance of modelling stress scenarios not just for individual schemes or fund houses, but for the entire mutual fund ecosystem. "It is also important to model stress scenarios for the entire composite mutual fund ecosystem. I would strongly encourage the industry and <keyword id="20090036" type="General" weightage="20" keywordseo="AMFI" source="keywords" meta.keywordsubtype="org" meta.entityname="AMFI" meta.hostid="153" meta.entityid="AMFI">AMFI</keyword> to take the lead and proactively conduct objective and credible industry wide stress tests. themselves," Gopalakrishnan said. He also emphasized the need to find better ways to communicate the risks associated with different mutual fund schemes. The SEBI official mentioned that while the current risk measurement system is straightforward and has had a significant impact, it doesn't fully capture the differences in risks among various investment schemes. According to him, many schemes are just labelled as high risk, even though they have different kinds of risks. The goal is to improve this system to better reflect those differences, while keeping it simple and easy to understand. One possible approach is to consider the portfolio's volatility and liquidity from stress tests to give a clearer picture. "While ensuring simplicity and ease of understanding remains a key objective, perhaps the underlying volatility of the portfolio along with the liquidity of the portfolio from stress tests could be used to provide better colour all around," he added. This comes at a time when the holdings of mutual funds by <keyword id="20234284" type="General" weightage="20" keywordseo="domestic-institutional-investors" source="keywords">Domestic Institutional Investors</keyword> (DIIs) and individuals have risen from about 54.3% of free float of all mid cap and small cap companies, as of March 2020 to 60.6% as of March 2024. Several fund houses have proactively stopped lump sum investments in some small-cap schemes and also capped the amount that can be invested through <keyword id="20675888" type="General" weightage="20" keywordseo="systematic-investment-plan" source="keywords">Systematic Investment Plan</keyword> (SIP) into small-cap schemes. He also highlighted the potential mismatch between the demand for paper and the supply of fresh paper coming into the ecosystem. Gopalakrishnan said the industry can make more progress in streamlining operations and improving efficiency for investors. "At a time when instantaneous fund transfers have become ubiquitous in our country, perhaps we should look to improve our internal processes and the security settlement ecosystem, to ensure that funds are passed on to investors on the day of the settlement itself, rather than a day after or two days after," he added. Over the last few years, the mutual fund industry has made impressive strides, and is now playing a crucial role in channeling financial savings towards risk capital formation. This was driven by stable macros, increased formalization, robust corporate earnings, digitisation and user friendly access. Moreover, the number of mutual fund investors has grown significantly from about 2 crore as of March 2019 to nearly 4.7 crore as of June 2024, an impressive compounded annual growth rate of 18% during that period. Gopalakrishnan mentioned that several exciting initiatives are in the works, developed with input from all stakeholders. These include a proposed low-ticket SIP, further breaking down regular SIPs into smaller, more accessible units (sachetisation and tokenization), and the introduction of "mutual funds lite" regulations. These new regulations will simplify rules for passively managed funds, reducing the compliance burden and encouraging competition and innovation. Additionally, a new class of higher-risk schemes is proposed for investors with a greater capacity to handle risk.

SEBI asks mutual fund industry to proactively conduct stress test

<keyword id="20018917" type="General" weightage="20" keywordseo="Capital-expenditure" source="keywords">Capital expenditure</keyword> on the <keyword id="19914937" type="General" weightage="20" keywordseo="Railways" source="keywords">Railways</keyword> has increased by 77 per cent over the past five years with significant investments in the construction of <keyword id="22505706" type="General" weightage="20" keywordseo="new-lines" source="keywords">new lines</keyword>, <keyword id="20375816" type="General" weightage="20" keywordseo="gauge-conversion" source="keywords">gauge conversion</keyword> and doubling, the <keyword id="20613906" type="General" weightage="100" keywordseo="Economic-Survey" source="keywords">Economic Survey</keyword> 2023-24 said on Monday. According to the survey tabled in Parliament by Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword>, in the financial year 2019-2020, the capital expenditure was 1.48 lakh crore which was increased to ₹2.62 lakh crore in 2023-24. "<keyword id="19909154" type="General" weightage="20" keywordseo="Indian-Railways" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Railways" meta.hostid="346" meta.entityid="Indian Railways">Indian Railways</keyword>, with over 68,584 route km (as of March 31, 2024) and 12.54 lakh employees (as of April 1, 2024), is the fourth largest network in the world under single management," the survey said. Highlighting the initiatives taken by the Railway Ministry for the enhancement of operations and services, the survey mentioned Amrit Bharat Station Scheme, Mumbai-Ahmedabad High Speed Rail (MAHSR) project and Dedicated Freight Corridors (DFCs) with the progress made in these respective <keyword id="19900581" type="General" weightage="20" keywordseo="projects" source="keywords">projects</keyword>. According to the survey, Amrit Bharat Station Scheme, launched in August 2023 for development of stations on a continuous basis, involves preparation of master plans and its phased implementation to improve amenities, building improvements, multimodal integration, and sustainability. It said that 1,324 stations have been identified for upgradation so far. Talking about another initiative, Mumbai-Ahmedabad High Speed Rail (MAHSR) project, the survey said that under this 508-km project, executed with cooperation from the government of Japan, land acquisition and civil conduct award have been completed. "Overall physical progress of 41.7 per cent has been achieved and financial expenditure of ₹59,291 crore was incurred until 31st March, 2024," the survey said. "Two DFCs are under implementation namely the eastern DFC with route length of 1,337 kilometre and the western DFC with route length of 1,506 kilometre," it added. It further stated that by the end of FY24, 96.1 per cent of the total DFC route length has been completed. Highlighting other major achievements, the survey said that the Railways achieved its highest-ever production for both locomotives and wagons in FY24. "Fifty one pairs of <keyword id="19922877" type="General" weightage="20" keywordseo="vande-bharat" source="keywords">Vande Bharat</keyword> have been introduced until March 2024. The fast pace of infrastructure augmentation has been the result of a substantial increase in financial allocation along with close project monitoring and regular follow-up with stakeholders for expeditious land acquisition and clearances," the survey said. It added, "High-speed, long-distance Vande sleeper trainset coaches having features like quick acceleration, diffused lighting, automatic doors and global positioning system-based passenger information system are under development." According to the survey, the Railways is also planning to introduce Vande metro trainset coaches with features such as sealed wider gangways, centrally controlled automatic sliding doors, CCTVs for safety and surveillance, route map indicator, passenger information and infotainment system, fire detection system and aerosol-based fire suppression system. "The first lot is expected to be turned out in FY25," it said. "Railways has taken several initiatives for providing a clean environment in and around railway stations and trains, such as replacement of conventional toilets with bio-toilets on coaches leading to clean tracks, segregation of bio-degradable/non bio-degradable waste, solid waste management and discouraging use of single use plastic," the survey added.

Capital expenditure on Railways increased by 77% over 5 years: Economic Survey

<ul class="summary-list"><li>A new academic study said people are diverting stock investments into legal gambling.</li><li>The researchers founded that household investments are reduced by roughly $2 for ever dollar wagered.</li></ul>The surging popularity of legal sports betting has been met with fanfare from American consumers. But a new <a target="_blank" class="" href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4881086">working study</a> finds its rise is coming at the expense of stock investments.The research, which has yet to be peer-reviewed, found that the net investments held by a household is reduced by roughly $2 for every dollar directed towards a bet."Our results suggest that access to online sports betting comes at the expense of equity market attachment and exacerbates financial difficulties faced by constrained households," a group of five academic researchers wrote.Betting took over the modern American sports experience in 2018, when the Supreme Court overruled a federal law prohibiting it. States were left with the control, and <a target="_blank" href="https://www.businessinsider.com/sports-betting-apps-online-gambling-lottery-draftkings-fanduel-2024-3">38</a> have since legalized it.With gambling made as simple as downloading an app, billions have been wagered. Where the total amount bet in the US stood at $1.1 billion in January 2019, this figure catapulted to $14 billion the same month this year, data from the <a target="_blank" href="https://www.sportsbookreview.com/news/us-betting-revenue-tracker/">Sports Book Review</a> shows.The study said US households bet an average of $1,100 per year, or $280 a quarter — a number that's continued to grow by $25 per quarter.Meanwhile, the researchers found that net investments typically fell nearly 14% in the two to three years after a legalization occurred in a state.Further, the study noted that financially constrained households tend to contribute a larger chunk of their income toward sports gambling, and are therefore hit harder by the negative effects."These households, already in relatively bad financial shape, are more likely to divert funds from their investment portfolios to betting activity," the researchers wrote. "Given that sports betting has a negative expected value, this finding underscores the potential for sports betting legalization to exacerbate financial vulnerability and hardship."A <a target="_blank" href="https://www.businessinsider.com/sports-betting-debt-bankruptcy-gambling-young-men-research-addiction-2024-8">separate recent working paper</a> reached a similar conclusion, outlining how credit has been damaged in areas where sports gambling is legal. In these areas, credit scores have dipped 1%, while debt collection and bankruptcies have jumped 8% and 28%, respectively."It's never enough," Michelle Malkin, the director of East Carolina University's Gambling Research &amp; Policy Initiative, previously told Business Insider. "You've got to keep on gambling. So it's this cyclical thought pattern of, 'I can fix my problems by keeping gambling and getting that next win.'"

The rise of legal sports gambling is coming at the expense of stock investing, new study shows     

New Delhi [India], May 24 (ANI): <keyword id="21790772" type="General" weightage="20" keywordseo="Indias-data-centre-industry" source="Orion">India's data centre industry</keyword> to attract an investment of USD 5.7 billion by 2026 amid the growing demand for <keyword id="19899640" type="General" weightage="20" keywordseo="AI" source="keywords">AI</keyword> (<keyword id="107950" type="General" weightage="20" keywordseo="artificial-intelligence" source="Orion">Artificial Intelligence</keyword>), says a report by real estate and investment management company, JLL. The report highlights that India's <keyword id="13391374" type="General" weightage="20" keywordseo="data-centre-industry" source="Orion">data centre industry</keyword> will add 791 MW capacity by 2026 and this expansion will lead to a demand of 10 million sq. ft of real state space. "The <keyword id="126804" type="General" weightage="20" keywordseo="data-centre" source="Orion">Data Centre</keyword> (DC) industry in India is set to witness remarkable growth, with projections of adding 791 MW capacity by 2026. This expansion will drive demand for 10 million sq. ft. of real estate space, attracting investments worth USD 5.7 billion" said the report. A data center is a facility that centralises an organisation's IT operations and equipment to store, process and transfer data and applications. The report highlights that growth in computing power and the resulting new applications are expected to drive strong demand for DC industry over the medium term. The expected demand of the Indian data centre industry to reach 650-800 MW during 2024-26. The surge in demand for data centres is primarily fuelled by the increasing adoption of Artificial Intelligence (AI). The report points out that Cloud Service Providers (CSPs), who essentially offer IT infrastructure systems primarily for data storage and computing power accessible through the Internet, have realigned their requirements to factor in AI-led demand. The CSPs have also announced higher investments to scale up AI-led growth. "The exponential growth in processing power and data volumes, driven by AI, necessitates the development of new data centres capable of meeting energy, processing, and cooling needs. The anticipated expansion and progression of diverse AI disciplines are projected to create additional demand for data centres, expanding their capacity requirements and advancing their capabilities" said Rachit Mohan, Head, Data Centre Advisory, India, JLL. According to the report in the second half of 2023, there was a 12 per cent increase in absorption to 81 MW compared to 72 MW during the same period last year. This growth can be attributed to cloud service providers (CSP) gaining momentum after a brief hiatus during the first half of 2023. In Mumbai, absorption nearly doubled during this period as CSPs renewed their pace of absorption. "India is poised to be the third-largest economy, with a projected USD 5 trillion GDP by 2027 with digital economy contribution of around 20 per cent. This digital expansion is anticipated to propel the growth of India's data centre industry, projected to increase from 853 MW in 2023 to 1,645 MW by 2026," said Dr. Samantak Das, Chief Economist and Head of Research &amp; REIS, India, JLL. There was a lower supply addition of 75 MW during H2 2023 as the available supply from the first half was utilised to meet the demand, resulting in tighter vacancy levels of 5.5 per cent. With a large user market, talented workforce, and thriving startup ecosystem, India presents a significant opportunity to emerge as a global data hub, driven by sustainable practices. The country's DC sector expanded from 350 MW in 2019 to 854 MW in 2023, in line with the increasing digital usage trends.

Amid growing demand for AI, India's Data Centre boom to drive USD 5.7 billion investments by 2026: JLL

<ul class="summary-list"><li>Mai-lan Phan and her husband Ryan Wagoner achieved <keyword id="20257332" type="General" weightage="100" keywordseo="financial-independence" source="keywords">financial independence</keyword> but chose not to <keyword id="20461816" type="General" weightage="20" keywordseo="retire-early" source="keywords">retire early</keyword>.</li><li>They amassed over $4 million by living modestly, investing wisely, and avoiding <keyword id="22369507" type="General" weightage="20" keywordseo="lifestyle-creep" source="keywords">lifestyle creep</keyword>.</li></ul>Mai-lan Phan, 37, and her husband, Ryan Wagoner, 36, reached <a target="_blank" href="https://www.businessinsider.com/gen-xers-financial-independence-retire-early-fire-started-saving-late-2024-6">financial independence</a>, but <a target="_blank" href="https://www.businessinsider.com/millennials-retiring-early-fire-movement-financial-independence-millionaire-savings-work-2024-5">neither wants to fully retire early</a>. They reached a total <keyword id="19985211" type="General" weightage="20" keywordseo="net-worth" source="keywords">net worth</keyword> of $4.1 million, including their two homes, from working <keyword id="21407046" type="General" weightage="20" keywordseo="high-paying-jobs" source="keywords">high-paying jobs</keyword>, cutting back on <a target="_blank" href="https://www.businessinsider.com/hate-spending-consumers-economic-sentiment-retail-sales-inflation-gdp-growth-2024-4">spending</a> for most expenses, and avoiding <a target="_blank" href="https://www.businessinsider.com/how-to-avoid-lifestyle-creep-income-increase-raise-2024-1">lifestyle creep</a>. Phan left dentistry full-time after experiencing nerve pain and having her son, working part-time while Wagoner works full-time. They live modestly and save for their family's future, though they still go on vacations and to Seahawks games. "<a target="_blank" href="https://www.businessinsider.com/financial-independence-retire-early-fire-millennial-income-wealthy-business-owners-2024-4">Financial independence</a> is not having to work full-time and the freedom to be able to send my child to full-time preschool, 40 hours a week, and come home and be able to do the things that I want to do," Phan said. Many Americans are working to achieve financial independence — or having enough savings or income to live comfortably for life. Some are hoping that will allow them to retire early, thus making them part of the <a target="_blank" href="https://www.businessinsider.com/fire-movement-financial-independence-retire-early-millennial-goals-saving-wealth-2024-5">FIRE movement</a>, though some like Phan and Wagoner <a target="_blank" href="https://www.businessinsider.com/early-retirement-overrated-financial-independence-fire-return-to-office-balance-2024-6">continue working</a> for extra financial security and personal satisfaction. "I want to be able to walk away from any job if it's not working," Wagoner said. "What I really care about is the financially independent part, so if I wanted to take a year off and go travel, or if I wanted to get out of a job that is really stressing me out and causing me mental difficulties." <h2>Working toward financial independence</h2>Phan was born an hour south of <a target="_blank" href="https://www.businessinsider.com/moving-to-seattle-leaving-georgia-atlanta-cost-of-living-millennial-2024-1">Seattle</a> to parents who "weren't wealthy by any means," though they took her on vacations and allowed her to participate in various extracurricular activities. Her parents taught her to live frugally and only spend on what's important. She worked at Subway, drove a used car, and got a phone as a senior in high school after most people in her grade. She got financial aid for her bachelor's degree and then enrolled in dental school. She rejected half the <a target="_blank" href="https://www.businessinsider.com/save-plan-student-loan-forgiveness-blocked-lower-payments-appeal-granted-2024-7">student loan</a> package offered because she didn't need it and wanted to live debt-free as soon as possible after graduation. Across eight years of school, she borrowed $140,000 — $80,000 was from the government, which she paid off two years after graduating, and $60,000 was from her parents, whom she paid back three years after graduation. Wagoner grew up in a small Michigan town and worked at his father's grocery store starting at 14, allowing him to buy a car before his 16th birthday. His accountant mom taught him how to set up a bank account and spend frugally — though he admits there weren't many places in his town to do so. He was the first in his family to attend college, and he chose Michigan State University with various scholarships paying for half his tuition. He paid for his living expenses through internships at Microsoft and drove his car until it stopped working. He read <a target="_blank" href="https://www.businessinsider.com/early-retirement-financial-independence-san-francisco-homebuying-fire-work-balance-2024-6">financial independence</a> books emphasizing spending on important things and cutting back on unimportant ones. He saved up enough to buy a condo, knowing his income was stable and growing, which he and Phan later paid off and rented to tenants. Phan and Wagoner met in 2015 while he was still at Microsoft — he had four more years of income, 401(k) matching, and no student debt. While dating, he told her he wanted to retire by 40. Phan was less convinced — she wanted to start a dental practice and knew it would take years to get it off the ground. "I thought he was crazy, and I said, I'm not going to eat rice and beans the rest of my life," Phan said. They decided to map out their family expenses and used Wealthfront, an automated investment service, which helped them build wealth through investments and high-yield savings. They both have kept their finances separate but share their numbers openly. <h2>Starting to strategize</h2>They didn't strategize much in their first few years of dating, instead just living below their means without sacrificing their quality of life. They paid for their wedding themselves in 2019 and then planned and paid for their honeymoon right before the pandemic. They also put 25% down on a home with an interest rate of 2.75%, which they chose not to pay off because of the low interest rate. "We got approved for a $1.5 million house, and I told my realtor, don't waste your breath showing us these houses; we're not going to spend it," Phan said. "We're choosing not to have a very large mortgage payment, so that positive cash flow has really propelled us above our colleagues." Over the last few years, they've <a target="_blank" href="https://www.businessinsider.com/fire-movement-how-to-hit-financial-independence-freedom-grant-sabatier-2024-4">kept expenses down</a> by driving a used car, investing in an e-bike instead of a second vehicle, and being intentional about food purchases. They've both maxed out their 401(k)s and IRAs and do everything they can to strategize their tax advantages. They also automated their savings and investments, which helped them keep expenses down and stay more organized. They had a son in 2020, and Phan transitioned from a full-time dentist to a stay-at-home mom doing part-time dental work. Nerve damage in her right hand prevented her from returning to work full-time. She said their finances were solid enough from not "keeping up with the Joneses" that she could work less while her husband continued to work full-time. Two years ago, Wagoner switched to a job paying a third less than his job at Qualtrics, though it's in the video game space, which he enjoys more. Phan made a spreadsheet to track her net worth, and she was surprised at the number: over $4 million in total assets, about two-thirds of which are liquid. It was enough for both to fully retire, though they chose not to so they could send their kids to college without worrying about the financial burden. <h2>Planning for the future</h2>They put almost $100,000 in their son's college fund, which they will continue to contribute to, though when he turns 16, they will encourage him to find work. They plan to enroll him in public school but are considering some private options. Phan said she's already toying with starting his financial education young by giving him a toy allowance. "I want him to understand the value of money, that he can't just get whatever he wants, but if he works hard and saves up, he can have his guilt-free spending," Phan said. "I just don't want him to have the pressure of paying for school like I did." They've discovered ways to parent without breaking the bank, such as using public resources like parks and getting cheap museum passes. Still, they prioritize spending on what they love, such as recent vacations to Mexico and Paris and season tickets to the Seahawks. They find cheap flights, such as $500 round-trip flights to Thailand, and other ways to reduce travel costs without sacrificing quality. They hope to take their son on a months-long trip to Europe or Asia to immerse him in different cultures. Phan recently hired an interior designer to redo the furniture in their primary home. Wagoner recently spent money on a new office setup, a gym membership, and eye surgery. Sometimes, it's hard for her to spend, as she has little desire for anything luxurious, though she said she's trying to feel less guilty about some higher-cost purchases. They have also loaned over $400,000 to friends as business loans. Recently, they've talked about combining their money and being more open about their finances, allowing them to make better plans for the future. "We are being more transparent and looking at all of the numbers and being able to talk about these things and say, looking at this account that will keep growing, I think we can do this," Wagoner said. They've considered what they would pivot to after full retirement — Phan would become a wedding planner, while her husband would consider being a football coach. "We've lived a very humble life and flown under the radar, which is how I think we've been able to all of a sudden catapult into this wealth just on hard work," Phan said. Are you part of the <keyword id="22369508" type="General" weightage="20" keywordseo="FIRE-movement" source="keywords">FIRE movement</keyword> or living by some of its principles? Reach out to this reporter at <a target="_blank" href="mailto:nsheidlower@businessinsider.com">nsheidlower@businessinsider.com</a>. Note: Correction — July 8, 2024: An earlier version of this story misstated the length of time it took Phan to repay her parents after graduation.

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