The weekend is here! Dan DeFrancesco in NYC, and I'm disappointed Prison Mike didn't give me a heads up on these 11 slang terms you hear in prison.
Fun Fact Friday: None of the Beatles could read or write music. Here are some more famous musicians who didn't bother with sheet music, per Classic FM.
Today, we've got stories on how unprofitable startups are making lemonade out of lemons, JPMorgan's hiring spree for AI talent, and the latest on what's going on with your student loans.
But first, I've got a can't-miss opportunity for you.
If this was forwarded to you, sign up here. Download Insider's app here.
1. There's one born every minute.
Spend a few minutes on social media, and you're bound to come across it. Maybe it's vending machines and laundromats or stock and real-estate investing. Regardless of the strategy, the underlying message is the same.
Making money this way is so easy you'd be stupid not to do it yourself.
How one actually makes money from the endeavor isn't ever the focus. It's usually broad strokes and big smiles, often with an onlooker eagerly nodding along. In actuality, it's about planting a seed in the viewer's head.
Am I missing out on a massive opportunity here?
Insider's Dan Geiger has a fascinating story on Matt Onofrio, an average guy who started making tens of millions of dollars seemingly overnight by investing in commercial real estate despite no prior experience.
Onofrio became a staple of the investing-podcast circuit, building his brand and attracting new clients, the majority of which were everyday people.
The catch? The deals Onofrio was letting his clients in on were usually at a considerable markup in his favor. He was also alleged to have acted as a behind-the-scenes lender to his clients — unbeknownst to the banks he worked with. All of that amounted to bank fraud, according to an indictment filed against Onofrio in November. He has yet to enter a plea.
Stories like Onofrio's have been around forever. But the rise of social media has poured jet fuel on the issue. Now a fraudster is only one swipe away from pitching you on how he or she can change your life with this simple strategy. And they're tucked snuggly between pictures of your friend's new kid and that family member who overshares.
Maybe you think these type of people deserve to get conned and that you'd never fall for such a simple scam. But for a population that has grown accustomed to on-demand entertainment and instant results, getting rich apparently out of nowhere seems completely plausible.
Because what's the alternative? Patience?! Steady contribution to your 401(k)? That's loser talk! Those who wait are weak!
More on how Matt Onofrio made $35 million selling people on a real-estate dream.
In other news:
2. Even the losers can be winners in New Jersey. No, I'm not taking a shot at the Garden State. I'm talking about a unique program the state offers that allows unprofitable startups to sell their losses for cash to companies looking for a tax break. Here's how it works.
3. If you work in AI, JPMorgan probably has a job for you. The biggest US bank reportedly advertised for more than 3,600 AI-related jobs during a three-month span. But it's one thing to get them in the door. It's another to keep them there, as big banks have struggled to retain AI talent. And if you'd like a rundown of how the big banks are thinking through their AI strategy, and the execs leading the charge, we've got you covered.
4. Some Apple customers aren't happy with how long it's taking to transfer money. And they're pointing the finger at Goldman Sachs, which manages the tech giant's new savings account, per The Wall Street Journal. More here.
5. The investment-banking arm of Silicon Valley Bank would like to cut a deal ... for itself. SVB Securities' management team is trying to buy the investment bank from SVB Financial Group, Bloomberg reported.
6. SMBs want in on the AI action. A survey by American Express of 550 small-business leaders found that nearly half of them are prioritizing the tech to help with decisions. Here's why even smaller companies are "AI-curious."
7. The origin story of one of the hottest public companies took place at a Denny's. Nvidia cofounders said they came up with the idea for the chipmaker, which hit a $1 trillion market value this week, at a booth in the chain restaurant. Why a cup of coffee and a Grand Slam are the best fuel for inspiration.
8. Oh you fancy, huh? We've got a rundown of the 10 most prestigious private middle and high schools in NYC, along with tips for getting in. And if you've got that kind of dough, you're probably the type to hire a college-admissions consultant. Here's a guy who charges $750,000 for his services — yes, you read that right — but said he had a 94% success rate.
9. So about those student loans ... The House and Senate have both passed a bill to overturn student-debt relief and end the payment pause. Here's what could happen next.
10. It's past Memorial Day, which means you can officially start wearing white. Here are 16 of the best white jeans for the summer. Check them out.
Curated by Dan DeFrancesco in New York. Feedback or tips? Email ddefrancesco@insider.com, tweet @dandefrancesco, or connect on LinkedIn. Edited by Jeffrey Cane (tweet @jeffrey_cane) in New York and Nathan Rennolds (tweet @ncrennolds) in London.