India reached 195/5 to trail New Zealand by 40 runs at lunch on day two of the third and final Test here on Saturday. Resuming at their overnight score of 86/4, Rishabh Pant (60) played a counter-attacking innings and raced to his fifty, while Shubman Gill (70 not out) also scored a half century. New Zealand were guilty of dropping a couple of catches but Ish Sodhi found the breakthrough for the tourists when he trapped Pant leg before in the 38th over. New Zealand had scored 235 in their first innings. Brief Scores: New Zealand 1st inning 235 all out in 65.4.1 overs (Daryl Mitchell 82, Will Young 71; Ravindra Jadeja 5/65, Washington Sundar 4/81) India 1st innings: 195 for 5 in 43 overs (Shubman Gill 70 not out, Rishabh Pant 60; Ajaz Patel 2/76) SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/oneplus-13-announced-with-snapdragon-8-elite-6000mah-battery-and-more/articleshow/114842638.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-13-announced-with-snapdragon-8-elite-6000mah-battery-and-more/articleshow/114842638.cms" target="_blank">OnePlus 13 announced with Snapdragon 8 Elite, 6,000mAh battery and more</a><a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-up-3-in-q3-vivo-leads-the-market/articleshow/114840345.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-up-3-in-q3-vivo-leads-the-market/articleshow/114840345.cms" target="_blank">Indian smartphone shipments up 3% in Q3, Vivo leads the market</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-november-2024/slidelist/114836760.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-november-2024/slidelist/114836760.cms" target="_blank">Upcoming smartphones launching in India in November 2024</a> <meta content="cms.next" name="cmsei" />

India reach 195/5, trail New Zealand by 40 runs at lunch on day 2

<ul><li>NSE marked its 30th anniversary on the occasion of Diwali on Friday.</li><li>It introduced its website in eight additional regional languages, taking the total to twelve.</li><li>The stock exchange also announced a new app for Android and iOS users.</li></ul>Marking its 30th anniversary on the auspicious occasion of Diwali, the National Stock Exchange of India (NSE) announced the launch of a multi-language website and mobile app, enhancing accessibility for investors across India. During the Muhurat Trading session, a tradition held on Diwali, NSE Managing Director Ashish Kumar Chauhan extended warm wishes for the new year, Vikram Samvat 2081, and highlighted NSE's commitment to providing accurate and reliable information to the trading community. Chauhan said, "Some people leave their decisions to trade and invest on software, just like driverless cars. This and many more dangerous uses of AI are being made. With persistent use of AI, the line between truth and lies will become blurred." Reflecting on NSE's origins, Chauhan noted, "NSE came into being on 3 November 1994, on Diwali, so today marks 30 years of NSE. Traditionally, Gujarati and Marwadi businessmen close their account books today, marking the last day of the year. Muhurat trading holds great importance for the country." In its efforts to support investors across linguistic backgrounds, NSE introduced its website in eight additional regional languages, bringing the total to twelve, including Assamese, Bengali, Kannada, Malayalam, Oriya, Punjabi, Tamil, and Telugu, along with previously supported English, Hindi, Marathi, and Gujarati. Additionally, a new NSE mobile app for Android and iOS has been launched, providing users with market updates and tools to make informed decisions on the go. Key features of the app's initial release include an overview of indices, market snapshots, market trends, and turnover; quick summaries of Nifty 50's top gainers, losers, and most active stocks, along with a convenient stock search and personalized watchlist feature; a specialized option chain section for easy access to options trading data, including active calls, puts, and open interest, providing investors with insights for informed decisions. Chauhan said, "People often spread rumours and tips on trading. All information required by information from a trusted source will be provided by NSE. Today, we have launched NSE India websites in 8 languages, with 4 languages provided earlier, making it a total of 12 languages now. Android and ioS mobile apps have also been launched by the NSE." With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-13-announced-with-snapdragon-8-elite-6000mah-battery-and-more/articleshow/114842638.cms">OnePlus 13 announced with Snapdragon 8 Elite, 6,000mAh battery and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-up-3-in-q3-vivo-leads-the-market/articleshow/114840345.cms">Indian smartphone shipments up 3% in Q3, Vivo leads the market</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-november-2024/slidelist/114836760.cms">Upcoming smartphones launching in India in November 2024</a> <meta content="cms.next" name="cmsei" />

NSE MD warns against AI-driven trading, launches a new mobile app

A thin layer of smog engulfed the national capital and the AQI was recorded at 296 at 7 am on Saturday, according to the System of Air Quality and Weather Forecasting and Research (SAFAR). In Anand Vihar, the AQI was recorded at a very poor category of 380 at 7 am; in ITO, it was 253 (poor) at 6 am; in RK Puram, it was 346 (very poor) at 6 am; in IGI Airport T3 it was 342 (very poor) at 6 am; and in Dwarka Sector 8 the AQI was 308 (very poor) at 7 am, according to the Central Pollution Control Board (CPCB). In Anand Vihar the AQI was recorded in the very poor category of 380 At 7 am, in ITO Delhi 6 am poor 253, in RK Puram 6 am very poor 346, in IGI Airport T3 very poor 342 at 6 am, in Dwarka Sector 8 AQI was recorded in very poor category at 308 at 7 am. A cyclist near India Gate told that air pollution makes breathing difficult while cycling, jogging, or engaging in heavy physical activities. "There are serious problems because of pollution; if you look around, the air is polluted. When you walk normally, you don't feel it, but if you cycle, jog or do any heavy work, you will feel that it is quite difficult to breathe," a cyclist told ANI. Another cyclist mentioned that pollution levels will rise further in the coming days, and there won't be any relief. "The pollution level will rise after 2-3 days. There won't be any relief (from pollution), but it will increase," he told ANI. On Friday a day after the Diwali celebration, the city's air quality was recorded in the 'very poor' category, according to the Central Pollution Control Board (CPCB). Most areas in the capital recorded an Air Quality Index (AQI) over 350, raising health concerns for residents. At around 7:00 am, Anand Vihar recorded an AQI of 395, Aya Nagar stood at 352, Jahangirpuri at 390, and Dwarka reached 376. All these areas reported 'very poor' air quality levels, posing significant health risks. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/oneplus-13-announced-with-snapdragon-8-elite-6000mah-battery-and-more/articleshow/114842638.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-13-announced-with-snapdragon-8-elite-6000mah-battery-and-more/articleshow/114842638.cms" target="_blank">OnePlus 13 announced with Snapdragon 8 Elite, 6,000mAh battery and more</a><a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-up-3-in-q3-vivo-leads-the-market/articleshow/114840345.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-up-3-in-q3-vivo-leads-the-market/articleshow/114840345.cms" target="_blank">Indian smartphone shipments up 3% in Q3, Vivo leads the market</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-november-2024/slidelist/114836760.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-november-2024/slidelist/114836760.cms" target="_blank">Upcoming smartphones launching in India in November 2024</a> <meta content="cms.next" name="cmsei" />

Delhi AQI at 296, smog engulfs city on Saturday

<ul class="summary-list"><li><a target="_blank" href="https://www.businessinsider.com/i-faced-online-hate-didnt-want-kids-2023-3">Madalin Giorgetta</a>, 35, used to sell a fitness guide to help women get a curvy, muscular figure.</li><li>In 2019, she realized that her messaging was celebrating thinness, so she switched gears.</li></ul>This as-told-to essay is based on a conversation with Madalin Giorgetta, 35, a fitness influencer-turned-nutritionist who lives in Australia. The following has been edited for length and clarity.In 2019 I ran a fitness empire and had one million Instagram followers. Today, I'm a nutritionist, but I wouldn't change it for the world.I used to get 60,000 likes on a bikini photo, be a GymShark athlete, and sell my own workout program. Once I realized I was <a target="_blank" href="https://www.businessinsider.com/fitspiration-doesnt-work-but-worsens-body-image-self-esteem-study-2020-3">endorsing harmful ideas about body image</a>, I shifted gears. Now I get 500 likes on a graphic I made about nutrition science, and I'm just so happy someone is liking my content even though it doesn't have my body in it.It all started back in 2016 when I ate crap and didn't exercise. I ran a social media management business with my sister at the time. My then-boyfriend, now-husband, said it would be good for me to start taking care of my body in a loving way. I started going to the gym, kind of just to prove to him that I could.I signed up for a fitness app made by <a target="_blank" href="https://www.businessinsider.com/worlds-top-fitness-influencer-kayla-itsines-sells-empire-sweat-400m-2021-7">Kayla Itsines</a>, a famous personal trainer and fitness influencer who was huge at the time. After about six months, she reposted a <a target="_blank" href="https://www.businessinsider.com/fake-before-and-after-weight-loss-photos-2017-3">before-and-after photo</a> I had uploaded, and I gained about 10,000 followers overnight. Back then, when someone was posted by Kayla, they would blow up.My following built from there, but I didn't actually have that much fitness experience. People were asking me for advice, and I was like, "Oh, I'm a fitness person now."<h2 id="06d28b08-4c7f-49bb-a980-1bb5ee77c70c">I built my own program, and people loved it</h2><div type="image" title="Madalin Giorgetta takes a mirror selfie in gym clothes." height="1366" width="1242" msid="114866792" hostid="261" sizebytes="57978"></div>This was around the time that everyone was sick of <a target="_blank" href="https://www.businessinsider.com/burpees-every-day-fitness-after-health-scare-pulmonary-embolism-recovery-2024-3">burpees</a> and mountain climbers, and the beauty standard was shifting from skinny to curvy but in a muscular way.The guide I was following was designed to be used at home with minimal equipment, and after a while, I started to get frustrated that my body wasn't building muscle the way I wanted it to.I wanted to get stronger and have a muscular body, so I started researching and reading about how to do that. I fell into a rabbit hole about <a target="_blank" href="https://www.businessinsider.com/guides/health/fitness/how-to-build-muscle">how to build muscle</a> and the best techniques, and I developed a program for myself that incorporated weights.I was naturally thin, but through the gym, I managed to shape myself into the aspirational aesthetic of the time. I had the solution, essentially.At this stage, I was influencing but still running my social media business. Influencing was an income stream on the side.I started selling my guide around April 2017, and it just exploded. It became very big, and then I started working on my own fitness app, working with brands, and gaining more and more followers. I was super excited about it. It took me about a year in total before I was able to quit my social media job and work full time in my fitness job.<h2 id="e9e9a593-eb16-46c5-bd86-f501df90f970">My body became my business card, and it led me to an obsessive headspace</h2><div type="image" title="Madalin Giorgetta stands in front of a gate in a white and silver bikini." height="1539" width="1237" msid="114866686" hostid="261" sizebytes="76340"></div>I've always been very sensitive to people's criticisms and compared myself to others. But being an influencer magnified those feelings times a thousand.I became obsessed with everything, from <a target="_blank" href="https://www.businessinsider.com/threads-engagement-bait-rise-social-media-2024-9">engagement on my posts</a> to the number of guides I was selling to how my body looked in a photo.Before I got into fitness, I didn't look at my body that much. My body was my body. But when I started constantly looking at it in the mirror and taking photos of it, I became very fixated on everything.My body was my business card, and I was very aware that if it looked a certain way, I could get a lot more likes, sell more products, and make more money. I didn't actually care about the money itself — it was the validation. More money meant that more people liked me.It was insane how I could grow my business by posting my body in a specific way, and I knew how it had to look. I had to pose in a certain style, have abs, make sure I didn't eat before I worked out, and have a tan, lashes, <a target="_blank" href="https://www.businessinsider.com/red-flags-botox-filler-injections-2024-10">Botox, and filler</a> all over my face.I was super successful, and people wanted to look like me, but I never felt good about how I looked. My phone was filled with rows of selfies of me trying to get the best angle. There was always someone who was more toned, prettier, or doing better financially, and that made me feel like I wasn't good enough. It ruined my mental health.<h2 id="885a6903-88d9-4ae4-9fce-f12dff2c71e4">I started to interrogate the message I was sending</h2><div type="image" title="Madaline Giorgetta sits on the grass, looking behind her, in front of a mountain range." height="2268" width="3024" msid="114866684" hostid="261" sizebytes="804634"></div>In 2019, I started to reflect. I visited my sister in San Francisco and tried <a target="_blank" href="https://www.businessinsider.com/microdosing-psilocybin-mushrooms-for-creativity-startups-2024-3">psilocybin</a>, a psychedelic, which opened my mind to ideas I hadn't considered — or hadn't allowed myself to consider.It prompted me to question what I was promoting and things I'd previously accepted, like why people struggle with weight loss if diets supposedly "work." Before, I assumed people weren't trying hard enough or didn't have the "right" knowledge. But after the experience, I began to recognize the complex factors, such as socioeconomic status, that affect someone's ability to manage their weight.I became genuinely interested in reading deeper and understanding. I also felt more open, compassionate, and receptive, so the messages had a deeper impact on me.A few weeks later, I stumbled across an article about how <a target="_blank" class="" href="https://www.businessinsider.com/biggest-loser-star-lost-kept-off-weight-maintenance-2024-2">dieting doesn't work</a>. It mentioned a study and a few people's different experiences. Suddenly, it felt so true to me. I just remember crying and thinking, "Oh my God, it doesn't work. What have I been doing? It's a scam."My content wasn't specifically about dieting, but I posted before-and-after photos of women who had lost weight and now looked thinner after using my program. I spoke about low-calorie diets, and on my app, I used phrases like "get leaner." I promoted the idea of "no excuses" when it came to <a target="_blank" class="" href="https://www.businessinsider.com/we-need-to-reframe-exercise-and-stop-branding-it-punishment-2021-1">hitting the gym</a>.I began to interrogate what that language actually meant and the underlying message I was sending. I realized that it was insidious — it's not saying "become your best self," it's saying "become your thinnest self." It was clear to me that I was telling people that their body wasn't good enough and needed to change.It took me a while to come to terms with that emotionally because, naturally, you make excuses for why you did what you did. I feel guilty about so many things I said.But overall, I felt like I needed to spring into action. I thought: "What can I do to change this?"<h2 id="e366c9ee-9813-40de-b840-07eafe3c8d94">I changed my messaging completely and received a lot of hate</h2><div type="image" title="Madalin Giorgetta stands in front of a wooden house." height="2268" width="3024" msid="114866790" hostid="261" sizebytes="1628406"></div>I became hyper-fixated on learning about diet culture, <a target="_blank" href="https://www.businessinsider.com/guides/health/mental-health/fatphobia">fatphobia</a>, and public health.I quit my work with a supplement company because it had a protein powder called Lean Protein. I was like, "No, I can't do that." I stopped working with activewear brands that didn't sell clothes bigger than a size XL. These deals were thousands of dollars and I was just cutting and cutting them.My content became centered on <a target="_blank" href="https://www.businessinsider.com/fake-before-and-after-weight-loss-photos-2017-3">anti-diet culture</a> after that, and I received some pretty brutal backlash.Every post I did would get lots of hate comments, and I lost a lot of followers and friends in the industry, which made me really sad.Either people weren't following me for that type of content, or they felt like I was shaming them because I was saying things like, "Ditch your fitness app." It was kind of creating this vortex of shame and anger, and it was a horrible space to be in.I felt like people weren't taking me seriously because I didn't have the qualifications to back what I was saying, so I decided to study for a Bachelor's degree in nutrition.<h2 id="2f326e63-8a02-431c-974f-60e602efd72e">I wish I hadn't cared so much about what people think</h2><div type="image" title="Madalin Giorgetta stands in front of a house with wooden shutters." height="2268" width="3024" msid="114866685" hostid="261" sizebytes="1637628"></div>Changing my messaging so suddenly and drastically in front of a huge audience was really difficult, but I don't regret anything.I now work as a functional nutritionist, seeing one-to-one clients remotely. I used to be a lot more extreme with my anti-diet stance. Now I'm more centered in my beliefs. I encourage the <a target="_blank" href="https://www.businessinsider.com/stop-counting-calories-avoid-processed-foods-weight-loss-tim-spector-2022-5">whole foods diet</a> and eating foods that will fuel your body and satiate you.I still have a big following on Instagram, but I wouldn't consider myself an influencer because I very rarely work with brands. I use it as a way to get clients, connect with my community, and share educational content about nutrition and fitness.I recently started going to the gym again after a five-year break. I stopped going because I couldn't look at myself in the mirror without thinking, "You look so bad, you don't have this, you don't have that."I'm proud of my decision, and I feel comfortable with who I am and what I've done. My relationships with myself, my body, my partner, and my friends improved too.I just wish that Madalin back then hadn't cared so much about what people thought.<meta content="cms.next" name="cmsei" />

I was a fitness influencer with 1 million Instagram followers. I made a career U-turn after I realized my content was damaging myself and others.

<ul class="summary-list"><li>Intel, once a chip-design leader, struggled over missed AI opportunities and manufacturing delays.</li><li>Nvidia will be replacing Intel in the Dow Jones Industrial Average.</li></ul>Once a Silicon Valley leader, Intel has been a staple of the computer-chip-making business for decades. In the past several years, it has fallen from grace, failing to jump on the AI train in time.The S&amp;P Dow Jones Indices said Friday that <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-replace-intel-dow-jones-industrial-average-2024-11">Nvidia will replace</a> Intel on the Dow Jones Industrial Average, a blue-chip index intended to project the most relevant picture of the US economy. The change raises more questions about Intel's role in the future of computing and AI.For decades, <a target="_blank" class="" href="https://www.businessinsider.com/intel-qualcomm-takeover-bid-layoffs-foundry-spin-off-2024-9">Intel</a> led in chip design and manufacturing. A series of missed opportunities over the years has contributed to its current financial challenges.Intel has been trying to correct its course for years. In 2021, it brought back <a target="_blank" href="https://www.businessinsider.com/intel-pat-gelsinger-20-billion-manufacturing-factories-fabs-semiconductors-2021-3">Pat Gelsinger</a>, a former <a target="_blank" class="" href="https://www.businessinsider.com/vmware-customers-price-hike-late-fees-broadcom-acquisition-2024-10">VMware</a> CEO and longtime Intel executive who now serves as its chief executive, to revive its leadership status in the chips industry. The company has recently benefited from CHIPS and Science Act funding to create more microchip-manufacturing capabilities in Arizona. And it made a series of acquisitions to catch up on developing more advanced architectures and profit from the artificial-intelligence boom.Intel's American manufacturing efforts are a big gamble for the company's future. Each new semiconductor fabrication plant can take billions of dollars and <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://download.intel.com/newsroom/2022/manufacturing/fab-final-static.pdf">three to four years</a> to complete, time that Intel may not have.While Intel has built <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.bloomberg.com/features/2024-intel-comeback-chipmaking/">Ohio factories</a>, major chip designers have not publicly signed up."They just dropped the ball there, and until now, they're trying to build the foundry business. But they haven't even proven that they can make stuff for themselves yet," Stacy Rasgon, a senior analyst at Bernstein Research, said.<h2 id="bd048255-dab1-4f0a-ba47-1f934c9ae769">A series of unfortunate events</h2>Intel was instrumental to the personal-computer boom in the 1990s, designing and manufacturing cutting-edge microprocessors. With its x86 central processing units, Intel drove rivals such as <a target="_blank" class="" href="https://www.businessinsider.com/amd-ai-vp-gpu-shortage-nvidia-lock-in-2024-7">AMD</a> out of the market.Because of its focus on PCs, Intel chose not to capitalize on mobile-chip growth in the 2000s — a big mistake because of the iPhone boom.In a 2013 interview with The Atlantic, Paul Otellini, then Intel's departing CEO, <a target="_blank" class="" href="https://www.theatlantic.com/technology/archive/2013/05/paul-otellinis-intel-can-the-company-that-built-the-future-survive-it/275825/">expressed regret</a> over passing up a deal with Apple to design and manufacture chips for the iPhone before the smartphone was introduced. The two companies could not reach an agreement because Intel's forecasts said that volume would not make up for the cost."We ended up not winning it or passing on it, depending on how you want to view it. And the world would have been a lot different if we'd done it," Otellini told The Atlantic. "And in hindsight, the forecasted cost was wrong, and the volume was 100x what anyone thought."Another opportunity came along when <a target="_blank" href="https://www.reuters.com/technology/artificial-intelligence/how-chip-giant-intel-spurned-openai-fell-behind-times-2024-08-07/">OpenAI approached Intel for an investment</a>. OpenAI wanted to reduce its reliance on Nvidia's chips for its AI and build its own infrastructure. The deal fell through, and Reuters said Intel's leadership didn't think generative-AI models would make it to the market soon. That bet would later come back to bite Intel, and now OpenAI has billions in <a target="_blank" class="" href="https://www.businessinsider.com/microsoft-openai-plan-100-billion-supercomputer-stargate-artificial-intelligence-report-2024-3">backing from Microsoft</a>.Intel bought the deep-learning startup <a target="_blank" href="https://www.businessinsider.com/intel-nervana-nvidia-ai-chips-2019-5">Nervana Systems</a> in 2016 to invest in AI. The chipmaker later ceased operations at Nervana and placed its bets on the Israeli startup <a target="_blank" href="https://www.businessinsider.com/habana-labsi-startup-intel-2-billion-ai-strategy-2019-12">Habana Labs</a>, which it acquired for $2 billion in 2019. Habana helped launch Intel's next-generation <a target="_blank" href="https://www.zdnet.com/article/intel-shows-off-latest-gaudi-ai-chip-pitched-towards-enterprises/">Gaudi AI chip</a> for businesses this year.<h2 id="7638c8f7-2f25-407a-b2ad-4138ad761bd4">Intel's lack of GPUs</h2>While Intel focused on CPUs, competitors like the chip designers <a target="_blank" class="" href="https://www.businessinsider.com/amd-ai-vp-gpu-shortage-nvidia-lock-in-2024-7">AMD</a> and Nvidia hedged their bets with graphics processing units, which could assist with accelerated computing, a critical need for training AI."They didn't really have a GPU product road map," Rasgon said.Intel once had a stand-alone graphics chip called Larrabee in beta development. However, the project was <a target="_blank" href="https://www.cnet.com/science/intel-initial-larrabee-graphics-chip-canceled/">canceled</a> in 2009 and converted to a software-development platform after failing to hit performance targets."Nvidia's dominance didn't come from luck. It came from vision and execution. Which Intel lacked," <a target="_blank" href="https://x.com/ctnzr/status/1737561214048186680">said an X post from Bryan Catanzaro</a>, the vice president of applied deep-learning research at Nvidia, who previously worked at Intel as an intern on the Larrabee project.The CPUs that made Intel big now have presented what Logan Purk, a senior analyst at Edward Jones, called "the inventor's dilemma," when newer technology replaces incumbents."I think management just rested on their laurels, so to speak, and there wasn't a strong competitor nipping at their heels to force them to continue to push that innovation," Purk said.<h2 id="0e7ae5b4-a209-4704-961a-dc4d42a6e179">Manufacturing delays</h2>Intel's customers and rivals took their silicon business overseas to cut costs. Companies like AMD and Nvidia decided to leapfrog on chip designs while outsourcing manufacturing.Intel's manufacturing capabilities fell behind its customer demands. It ran into delays for its chips while TSMC was shipping chips for Apple, AMD, and Qualcomm. In 2020, Intel announced a <a target="_blank" class="" href="https://www.businessinsider.com/intel-delay-chip-production-stock-plunges-2020-7">delay</a> to its 7-nanometer chips due to a "defect mode" that would have been key for its next generation of chips. <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://news.samsung.com/global/samsung-begins-chip-production-using-3nm-process-technology-with-gaa-architecture">Samsung</a> and <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.tsmc.com/english/dedicatedFoundry/technology/logic/l_3nm">TSMC</a> soon announced more advanced manufacturing capabilities, fitting more transistors in a processor and leaving Intel behind once again.After using Intel's chips for 15 years on its MacBooks, Apple debuted its <a target="_blank" class="" href="https://www.businessinsider.com/apple-m1-chip-risk-moving-away-from-intel-macbook-pro-2020-11">in-house chip design</a> with the M1 in 2020 and contracted out manufacturing to TSMC.Intel is now placing its bets on the 18A chip and its Xeon-data-center chips. <a target="_blank" class="" href="https://www.businessinsider.com/intel-ceo-pat-gelsinger-turnaround-plan-aws-2024-9">Gelsinger's latest announcements</a> point to the creation of an independent subsidiary for Intel's foundries, which would allow for more independence to obtain and borrow capital.<h2 id="d89b101d-83ce-44a9-9eb3-54119fab12e4">A potential Qualcomm merger</h2>When The Wall Street Journal reported on September 20 that Qualcomm had <a target="_blank" class="" href="https://www.businessinsider.com/qualcomm-intel-acquisition-chips-semiconductors-tsmc-2024-9">approached Intel</a> for a takeover, tech forums were abuzz — and for good reason.The mobile-chip maker Qualcomm approached Intel to acquire its <a target="_blank" href="https://www.reuters.com/technology/qualcomm-has-explored-acquiring-pieces-intel-chip-design-business-sources-say-2024-09-06/">chip-designing</a> business and, later, for <a target="_blank" href="https://www.wsj.com/business/deals/qualcomm-approached-intel-about-a-takeover-in-recent-days-fa114f9d">a merger deal</a>, Reuters and the Journal reported, respectively. <a target="_blank" class="" href="https://www.businessinsider.com/intel-talks-investment-apollo-qualcomm-2024-9">Apollo Global Management</a> has also offered an "equity-like" investment of up to $5 billion, Bloomberg reported.A rescue for Intel is bound up with debates about the US's shifting role in the world's chip industry and the battle for dominance in the era of accelerated computing."If Intel was to be acquired by like a Qualcomm or a <a target="_blank" class="" href="https://www.businessinsider.com/vmware-customers-report-massive-price-increases-since-broadcom-deal-2024-8">Broadcom</a>, or any of these other big chip companies, that would be one of the biggest deals that has ever occurred in the chip space, like monumental," Dan Morgan, a senior trust portfolio manager at Synovus, said.A merger could reinvigorate the <a target="_blank" class="" href="https://www.businessinsider.com/tsmc-arizona-semiconductor-chip-fab-taiwan-china-president-joe-biden-2024-4">Biden administration's efforts</a> to position the US as a global chip-manufacturing hub and create a competitor capable of challenging Nvidia's monopoly in the AI-chip market, Morgan said.Even if <a target="_blank" class="" href="https://www.businessinsider.com/qualcomm-considers-intel-buyout-analysts-see-major-hurdles-2024-9">Qualcomm acquired Intel</a>, it's unclear what it would do with Intel's manufacturing operations. Though it would help Qualcomm diversify its products, a takeover would be a difficult bridge between the two companies and <a target="_blank" class="" href="https://www.businessinsider.com/qualcomm-considers-intel-buyout-analysts-see-major-hurdles-2024-9">wouldn't patch up</a> Intel's weaknesses, analysts have said."Now, you're buying their PCs and servers at present, but you're buying all the issues in their foundry business," Morgan said. "Why would you want to get involved in that? That is a huge undertaking."<meta content="cms.next" name="cmsei" />

Why all eyes are on America's fallen tech giant Intel, which is losing its spot in the Dow Jones Industrial Average

<ul class="summary-list"><li>Nvidia stock will replace Intel in the Dow Jones Industrial Average, S&amp;P Dow Jones Indices said Friday.</li><li>Intel had held the position for 25 years, and the shift represents a shake-up among the tech titans.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/nvidia-replace-intel-dow-jones-industrial-average-2024-11">Nvidia will replace Intel</a> in the Dow Jones Industrial Average, S&amp;P Dow Jones Indices said in a statement on Friday, in a move that underscores the growing lead the chipmaker has over other tech titans in the AI race.While the change won't occur until just before the market opens on November 8, the stocks are already responding. <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-stock-price-earnings-party-investors-cult-investing-memes-2024-9">Nvidia</a> is up nearly 3% in after-hours trading, while Intel is down nearly 2%Representatives for <a target="_blank" class="" href="https://www.businessinsider.com/intel-layoffs-cost-cutting-measures-pay-cuts-reduced-perks-2024-10">Intel</a> and Nvidia declined to comment when reached by Business Insider.Business Insider's Emma Cosgrove, a senior reporter covering Nvidia, GPUs, and the AI ecosystem, explains why the shift is so seismic in the tech hierarchy.<h3 id="ffbe8cfe-09f3-4444-b679-4f8e1ebbfd69">Big news — what are your initial thoughts?</h3>The analysis is in the <a target="_blank" class="" href="https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20241101-1475162/1475162_djiadjuaintcdowaes.pdf">statement</a> from the Dow Jones Industrial Average. This index is intended to project the most relevant picture of the US economy, and semiconductors are an important part of that.The companies included are meant to be the most relevant movers within their respective industries and this shows Nvidia is orders of magnitude more relevant than Intel in this space right now.<h3 id="2163127a-cee0-4122-9e22-250133b95270">So, what does this mean for Intel?</h3>We've reported extensively that Intel has allowed Big Tech waves to pass them by, and this is the result. The question for Intel right now is, can they regain relevance? Can they rejoin the other major chip players as part of the future of computing? The fact that we're even asking those questions explains the news from S&amp;P today.<h3 id="1f5850ba-d282-4112-bdbb-0b2e248a5336">And what about Nvidia?</h3>I expect the stock to go up in the near term. This will likely fuel the folks who think <a target="_blank" class="" href="https://www.businessinsider.com/amd-earnings-q3-2024-ceo-lisa-su-nvidia-ai-chips-2024-10">NVDA</a> has a lot more room to run. But it doesn't change the underlying merits and prospects of Nvidia's core business.In lighter news, there's a pretty fun party going on in the Nvidia Stockholders 2024 <a target="_blank" class="" href="https://www.facebook.com/groups/nvidiastockholders/">Facebook group</a>.<h3 id="d2bad802-fea5-4967-bf60-5a9f24f0d4a0">More broadly, what does this say about the AI ecosystem right now?</h3>I would expect the entire <a target="_blank" class="" href="https://www.businessinsider.com/openai-sam-altman-infrastructure-artificial-intelligence-data-centers-2024-9">AI ecosystem</a> to be bolstered by this news. Despite Nvidia's massive market capitalization — challenging Apple for the largest company globally — it still faces concerns about artificial intelligence's long-term potential to drive meaningful earnings for companies other than Nvidia.<meta content="cms.next" name="cmsei" />

Nvidia's edge over Intel just got more extreme. Here's what it means.

<ul class="summary-list"><li>An Intel employee raised concerns about the upcoming US election's impact on CHIPS Act funding.</li><li>Intel invested billions in US factories but hasn't received CHIPS Act grants yet.</li></ul>Intel CEO Pat Gelsinger addressed an employee-submitted question about whether the upcoming US election would affect Intel's CHIPS and Science Act funding at an all-hands meeting on Friday.The US Commerce Department has awarded Intel, the largest recipient of the Act, <a target="_blank" href="https://www.intel.com/content/www/us/en/newsroom/news/us-chips-act-intel-direct-funding.html">$8.5 billion in grants</a> and $11 billion in loans. The government said it will pay out grants based on how companies meet benchmarks.During the all-hands, Gelsinger responded that the bill was "bipartisan," and the executive team reassured employees that Intel was a key part of the CHIPS Act as the only large-scale chip manufacturer in the US, according to an employee who listened to the meeting. The employee, whose identity Business Insider confirmed, asked to remain anonymous to discuss internal matters.Intel has privately <a target="_blank" class="" href="https://www.intel.com/content/www/us/en/newsroom/news/updates-intel-10-largest-construction-projects.html">invested billions </a>in factory expansions in New Mexico, Arizona, Ohio, and Oregon. It has not yet received the CHIPS grants.Gelsinger publicly addressed this topic in a Thursday <a target="_blank" href="https://www.bloomberg.com/news/videos/2024-10-31/intel-ceo-pat-gelsinger-on-q4-forecast">interview with Bloomberg</a> after the third quarter earnings call."The CHIPS Act was a bipartisan act, and with that strong support from both sides of the aisle, we believe the importance of that in terms of industrial policy. The semiconductor is well-supported by Congress and both parties," Gelsinger said.He also addressed the delay of CHIPS Act funding distribution."We are disappointed by how long and how slow the dispensing of funds has been and it's well over two years at this point. I've invested 30 billion in capital and we've seen $0 of the grants at this point. So we do believe that that has been too slow, and we're somewhat frustrated by that," Gelsinger said in the Bloomberg interview.Policymakers recently in Washington, DC, have discussed whether Intel needs additional help beyond the CHIPS Act funding as <a target="_blank" href="https://www.semafor.com/article/11/01/2024/concerns-grow-in-washington-over-intel">a precautionary measure</a>, as Intel's success is key to evolving American manufacturing policies, Semafor reported.Government leaders are also monitoring the CHIPS Act funding delays. Ohio governor Mike DeWine said Wednesday that he <a target="_blank" href="https://www.10tv.com/article/news/local/intel-hasnt-any-chips-act-money-why-not/530-021a26ac-81cd-4146-852e-2b2172f2c5f7">contacted the White House</a> to ask it to speed up the distribution of funding from the CHIPS Act for its New Albany factory.The CHIPS Act was passed largely in a bipartisan fashion in 2022. Stephen Ezell, the vice president for global innovation policy at the Information Technology and Innovation Foundation and the director of its Center for Life Sciences Innovation, previously told BI he <a target="_blank" href="https://www.businessinsider.com/us-semiconductor-chip-production-continue-harris-trump-presidency-arizona-jobs-2024-10">expects no "considerable change"</a> in approach whether presidential candidates Kamala Harris or Donald Trump are elected.Besides the delay in receiving CHIPS Act funds, Intel has faced a series of setbacks to its business. The S&amp;P Dow Jones Indices said Friday that <a target="_blank" href="https://www.businessinsider.com/nvidia-replace-intel-dow-jones-industrial-average-2024-11">Nvidia would replace Intel </a>in the Dow Jones Industrial Average. This change indicates that Intel is no longer seen as a stable economic indicator.Intel's recent profitability was "negatively impacted" by cost reduction changes as the company is "maniacally focused on improving fab productivity," Gelsinger said during its third-quarter earnings call.Amid a challenging financial adjustment, Intel is relying upon the success of its <a target="_blank" href="https://www.intel.com/content/www/us/en/newsroom/opinion/continued-momentum-intel-18a.html">18A chip</a>. In the past, the company has faced customer losses and delays in its 14-nanometer and 10-nanometer chips due to yield issues.Intel plans to reduce spending with a <a target="_blank" class="" href="https://www.businessinsider.com/intel-ceo-pat-gelsinger-turnaround-plan-aws-2024-9">cost</a>-<a target="_blank" class="" href="https://www.businessinsider.com/intel-ceo-pat-gelsinger-turnaround-plan-aws-2024-9">savings plan</a> and <a target="_blank" href="https://www.businessinsider.com/intel-layoffs-cost-cutting-measures-pay-cuts-reduced-perks-2024-10">has cut staff by 15%</a>.Got a tip about Intel? Contact this reporter at <a target="_blank" href="mailto:hli@insider.com">hli@insider.com</a> or use the secure messaging app Signal with the username hliwrites.99.<meta content="cms.next" name="cmsei" />

In an all-hands, Intel CEO addresses employee concerns about the US election and CHIPS Act funding

<ul class="summary-list"><li>There's a chip-manufacturing miasma hanging over Intel and the US.</li><li>Qualcomm is reportedly interested in buying parts of Intel.</li></ul>"Real men have fabs," <a target="_blank" class="" href="https://www.businessinsider.com/lisa-su-amd-billionaire-jensen-huang-nvidia-cousin-2024-4">AMD</a> cofounder Jerry Sanders once said.This was back in the late 1980s. The sexist comment needs updating, but his broader point is suddenly very relevant in 2024.Today, it would be better to say "real countries have fabs."A fab is a factory that manufactures <a target="_blank" class="" href="https://www.businessinsider.com/watch-out-for-semiconductor-super-cycle-before-buying-nvidia-stock-2024-7">semiconductors</a>. These giant facilities require billions of dollars and several years to build. They are incredibly hard to run efficiently.<a target="_blank" class="" href="https://www.businessinsider.com/qualcomm-intel-acquisition-chips-semiconductors-tsmc-2024-9">Intel</a> was the best at this for decades. Then, around 2018, its lead began to crumble, thanks to a series of missteps. <a target="_blank" class="" href="https://www.businessinsider.com/tsmc-power-players-14-execs-leading-worlds-biggest-chipmaker-2024-9">TSMC</a>, an upstart from Taiwan, steadily gained and is now unquestionably the best chipmaker in the world.Bloomberg's veteran chip reporter Ian King <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2018-11-28/intel-s-chipmaking-throne-is-challenged-by-a-taiwanese-upstart">wrote about this</a> in late 2018. Since then, Intel has plummeted and TSMC has soared. Intel is now worth less than $100 billion. It doesn't even crack the top 150 companies based on this measure. TSMC is worth almost $1 trillion these days, putting it in the top 10.On Friday, Intel lost its 25-year position in the <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-replace-intel-dow-jones-industrial-average-2024-11">Dow Jones Industrial Average</a> to Nvidia, reflecting the seismic shift that has occurred in the past few years in the semiconductor industry amid the AI boom.<h2 id="4433195c-e4af-462a-9ced-7b54c27e82a4">Why countries must have fabs now</h2>This is an astounding fall from grace for Intel, and a huge strategic and geopolitical problem for the US.If you want the best chips, you have to go to Taiwan to get them made. Or maybe South Korea, where Samsung has built an impressive so-called foundry business making semiconductors for other companies.Many of the famous "chipmakers" we think of in the US today don't actually make chips. Nvidia, Qualcomm, AMD, and all the others design chips, then they usually have TSMC manufacture them. Apple and a host of other big tech giants also have TSMC make the chips they design in-house.Again, actually producing these complex products at massive scale, with no tiny imperfections, is incredibly hard.If China invades Taiwan, or somehow exerts much more control over this island nation, this will be a disaster for the US, and Europe for that matter. No more fast iPhones for a while. <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-taiwan-tsmc-jensen-huang-china-disruption-2024-9">Nvidia</a> would have to look elsewhere to have its GPUs made. AI progress could stall.This is why, today, "real countries have fabs" is a better catchphrase. Chips power the modern economy. If you have to get these components overseas, you're vulnerable.<h2 id="83c00bc8-d296-4cf5-a23e-c8c8e45af39c">Qualcomm won't fix Intel's worrying decline</h2>This is also why the decline of Intel is so worrying. It's the only US company that knows how to manufacture powerful chips at scale. (Globalfoundries also makes semiconductors, but not the cutting-edge ones).The WSJ reported on Friday that <a target="_blank" class="" href="https://www.businessinsider.com/qualcomm-intel-acquisition-chips-semiconductors-tsmc-2024-9">Qualcomm approached Intel</a> recently about a deal. That followed a report from Reuters two weeks ago that Qualcomm was <a target="_blank" class="" href="https://www.reuters.com/technology/qualcomm-has-explored-acquiring-pieces-intel-chip-design-business-sources-say-2024-09-06/">considering buying pieces</a> of Intel.If a deal materializes, it won't solve America's chipmaking problem. One analyst called a potential tie-up "<a target="_blank" class="" href="https://www.businessinsider.com/qualcomm-intel-acquisition-chips-semiconductors-tsmc-2024-9">odd</a>."Qualcomm is probably not interested in Intel's manufacturing operations. As Reuters reported, it's keen on some of the chip-design operations.Intel has 2 main businesses. In one, it designs semiconductors for PCs, data center servers and other uses. The other part manufactures these designs.For decades, Intel's design and manufacturing operations were tightly integrated. This worked great for ages. The company could set up its factories to the exact specifications of its in-house chip designers.Then, the world began to move to a different approach, pioneered by TSMC. Instead of both designing and making your own chips, why not just run the fabs and make chips for other companies?In the late 1980s, when TSMC got going, this idea was laughed at. (Hence the sexist comment from AMD's Sanders about real men owning fabs).But TSMC's approach gradually caught on, helped by Intel mistakes and the march of modern technology.The big one happened when Intel missed out on making chips for the iPhone when that revolutionary device was first coming out. Apple ended up going with TSMC. Qualcomm is a huge smartphone chip designer too, and it has TSMC make most of these components. Other chip designers, including AMD, also began turning to TSMC.This gave TSMC the huge, diverse manufacturing volumes it needed to learn how to make chips better than anyone else. Ian King's 2018 article describes this virtuous feedback loop well:With billions of transistors on chips, a problem with a small number of those tiny switches can render the whole component useless. Production runs can take up to six months and involve hundreds of steps requiring maniacal attention to detail. Each time there's a mistake, the factory operator has a chance to make tweaks and try a new approach. If the change works, that information is retained to try on the next challenge. The more production runs, the better. And TSMC has the most nowadays.While TSMC was learning from this wide variety of huge customers, Intel's manufacturing operation was stuck with just one customer: Itself.As smartphone chips became the biggest game in town, Intel just didn't have the volume to keep up with TSMC in the manufacturing race. AI has made this situation worse. Nvidia leads here by a mile, and TSMC manufactures its GPUs.<h2 id="564b92fa-9e3c-4629-a190-2efc5f73990c">A stubborn manufacturing miasma</h2>Lifting the manufacturing miasma around Intel will be an expensive, risky, and complex effort.Intel has even begun paying TSMC to make some of its chips. With that as a starting point, there's a very long way to go.The US company took a major step recently when it separated its Foundry business from its chip-design business. This makes it easier for outside customers to trust Intel to make their chips without competing against them.The next challenge is the biggest: Actually being really good at making chips again.Intel's Foundry business won't really be able to challenge TSMC until it gets several big customers. Again, to get good at chip manufacturing you need huge, diverse volumes so you can spot defects, fix processes, and feed that knowledge back into your fabs.It's a chicken-and-egg situation. Without big volumes, outside customers will be wary of having Intel make their precious chip designs. But without customers, Intel can't improve.<h2 id="404cc2a8-c10e-43b4-a322-b06714d18898">Does everyone love Raimondo?</h2>One way to break this deadlock: Get the US government to coax other companies to use Intel's fabs. This is exactly what's happening now, <a target="_blank" class="" href="https://www.cnbc.com/2024/09/12/intel-gets-boost-from-raimondo-effort-to-spur-us-chip-production.html?s=31">according to CNBC</a>.Commerce Secretary Gina Raimondo has been trying to urge shareholders in companies such as Nvidia and Apple to recognize the economic benefits of having a US foundry that can produce AI chips, CNBC reported recently.About 4 days later, Intel announced a partnership where it will make an AI chip for Amazon Web Services. Intel stock jumped on the news because AWS is the largest cloud provider and it designs a boatload of chips for use in its huge data centers. This is the type of volume Intel needs.<h2 id="7ea79bb3-2393-462a-a292-8ee9d215d571">18A hopes</h2>On the technology side, Intel has a new process node called 18A. This is a set of chip-design rules and an accompanying manufacturing system. If everything goes well in coming years, this could make Intel more competitive with TSMC's leading nodes again.The AWS partnership is based on this 18A technology, and Microsoft said earlier this year that it will have an in-house chip made on this process node, too.Intel's Foundry business just needs way more of these customers. And the 18A technology must work really well for that to happen."18A had better be spectacular as they are betting the company on its success," Bernstein chip analyst Stacy Rasgon wrote in a recent note to investors.<h2 id="227c7e91-ea62-4e83-bba6-deed17b6cebd">Would a split work?</h2>In the meantime, Qualcomm is unlikely to want to acquire this part of Intel.This raises the specter of Intel being broken up, something that's been speculated in recent months. Reuters said Qualcomm is interested in some of the chip-design operations, while the WSJ reported on Friday that Qualcomm would likely sell some parts of Intel to other buyers. How would Intel's Foundry business perform as a separate company, split off from the design parts? The problem here, again, is all about volume. At the moment, Intel's Foundry business needs the manufacturing volume it gets from the company's own chip designs. Without that, it would have very little manufacturing to learn from. "We just don't see how it could really be done now," Rasgon wrote in a note in early September. "The manufacturing arm cannot stand on its own right now given heavy losses and lack of scale.""A split really only makes sense once it attracts a substantial third party business which seems years away (if ever)," he added. <meta content="cms.next" name="cmsei" />

Why Intel is still so important: Real countries have fabs

<a target="_blank" class="" href="https://www.businessinsider.com/nvidia-stock-price-earnings-party-investors-cult-investing-memes-2024-9">Nvidia</a> is joining the Dow Jones Industrial Average, the S&amp;P Dow Jones Indices said on Friday, replacing its rival Intel, which held the position for 25 years.The news follows a <a target="_blank" class="" href="https://www.businessinsider.com/intel-layoffs-cost-cutting-measures-pay-cuts-reduced-perks-2024-10">series of setbacks</a> for Intel, the storied, nearly six-decade-old chipmaker. As Nvidia's stock market value surpassed $3 trillion this year, Intel shares fell by more than half in 2024.Nvidia shares were up 3% in after-market trading. This story is developing. Check back for more information. <meta content="cms.next" name="cmsei" />

Nvidia to edge out Intel on Dow Jones Industrial Average

<ul class="summary-list"><li>Globalstar Inc. closed up over 31% after Apple invested $1.1 billion in a satellite expansion deal.</li><li>Apple is taking a 20% stake under the new agreement, which follows a $450 million deal in 2022.</li></ul>A satellite services company got a boost on Friday following its disclosure that Apple is taking a stake as part of a new investment deal.Shares of Globalstar Inc. closed up over 31% on the news that the iPhone giant had agreed to expand its deal with an additional $1.1 billion investment.The partnership has been extended to cover a new satellite constellation and more ground infrastructure, Globalstar <a target="_blank" class="" href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0001366868/000136686824000105/gsat-20241029.htm">disclosed in an SEC filing</a> that was made public on Friday. Apple is also set to acquire a 20% equity stake in Globalstar for $400 million, and the deal is expected to close on November 5.The new deal expands on the tech giant's <a target="_blank" href="https://affiliate.insider.com?h=7dcf4cd5b5916ecea5202a36fb1e950be048921efc114fe43fb07c4286816924&amp;postID=6724da7b50b43983ecd1d3d8&amp;postSlug=apple-invests-globalstar-stock-price-satellite-services-2024-11&amp;site=bi&amp;u=https%3A%2F%2Fwww.apple.com%2Fnewsroom%2F2022%2F11%2Femergency-sos-via-satellite-made-possible-by-450m-apple-investment%2F">previous $450 million investment</a> in 2022, which went primarily to Globalstar to help support Apple's Emergency SOS feature that first launched with iPhone 14 models.Emergency SOS enables satellite messaging to emergency services when an iPhone is not in range of WiFi or cellular connectivity. The feature was <a target="_blank" class="" href="https://www.businessinsider.com/apple-iphone-satellite-message-feature-saving-lives-during-hurricane-helene-2024-10">recently used by victims of Hurricane Helene.</a> Apple since looked to offer more satellite-based texting features.<div type="image" title="iPhone with Satellite messaging notification" height="856" width="760" msid="114862704" hostid="261" sizebytes="26904"></div>Most recently, <a target="_blank" class="" href="https://www.businessinsider.com/best-apple-ios-18-features-2024-6">Apple's iOS 18</a>, which launched in September, introduced <a target="_blank" class="" href="https://www.businessinsider.com/apple-ios-18-messages-via-satellite-could-be-services-moneymaker-2024-6">non-emergency satellite messaging</a>, enabling iPhone users to send and receive text messages, emojis, and tap-backs, still with end-to-end encryption.Although the emergency service is currently free, with Apple extending its free period for another year, its non-emergency counterpart may see pricing added as Apple looks to <a target="_blank" class="" href="https://www.businessinsider.com/apple-earnings-service-growth-iphone-drop-antitrust-google-app-store-2024-5">grow its services business.</a>Neither Globalstar nor Apple responded to a request for comment from Business Insider.<meta content="cms.next" name="cmsei" />

A satellite services company is up 31% after announcing Apple is taking a stake

<ul class="summary-list"><li>The final week of the election has seen one outrage cycle after another.</li><li>First, it was a joke about Puerto Rico. Then Biden's gaffe. And it only continued from there.</li></ul>At the end of a rally in Wausau, Wisconsin on Monday, Sen. JD Vance of Ohio called on Americans to toughen up."I think that we have to stop getting so offended at every little thing in the United States of America. I'm just — I'm so over it," said Vance, the GOP's vice presidential nominee. "Our country was built by frontiersmen who conquered the wilderness. We are not going to restore the greatness of American civilization if we get offended at every little thing."Vance was responding to a question about comedian Tony Hinchliffe's <a target="_blank" class="" href="https://www.businessinsider.com/trump-madison-square-garden-rally-overshadow-economy-puerto-rico-2024-10">joke about Puerto Rico</a> being a "floating island of garbage" at a Trump rally the previous day.By Tuesday, Vance himself seemed offended, <a target="_blank" class="" href="https://x.com/JDVance/status/1851419418842034332">taking to X</a> to weigh in on a clip of President Joe Biden responding to the Hinchcliffe controversy — and appearing to refer to former President Donald Trump's supporters as garbage. "This is disgusting," Vance wrote. "There's no excuse for this. I hope Americans reject it."In the final week of the 2024 presidential election, fury and indignation have been the name of the game, with one outrage cycle leading almost seamlessly into the next — and both sides doing their best to capitalize on the moment at each turn.Hinchliffe's Puerto Rico joke spawned the initial news cycle (and within 24 hours, a new digital ad from Vice President Kamala Harris' campaign). Then came <a target="_blank" class="" href="https://www.businessinsider.com/trump-biden-maga-supporters-puerto-rico-election-2024-10">Biden's own gaffe</a> on Tuesday night (the White House has insisted that he was referring to Hinchliffe's "demonization of Latinos.") Seizing on the moment, Trump climbed into a garbage truck branded with his campaign's logo in Wisconsin on Wednesday.But at a rally soon after, clad in the bright-orange vest of a garbage truck operator, Trump <a target="_blank" class="" href="https://x.com/atrupar/status/1851778142580384209">said</a> he would protect women "whether the women like it or not," which Harris and her campaign quickly sought to amplify, <a target="_blank" class="" href="https://x.com/KamalaHQ/status/1852099368288919577">casting the remarks</a> as an attack on women's agency and autonomy.On Thursday, Trump and his allies got their own talking point on women when billionaire investor <a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-mark-cuban-campaign-swing-states-sec-chair-2024-10">Mark Cuban</a>, a highly visible Harris supporter, went on "The View." When Cuban was asked why Trump hadn't campaigned with former UN ambassador Nikki Haley, he said that people "never see" Trump "around strong, intelligent women." That's since led to a flood of <a target="_blank" class="" href="https://x.com/KariLake/status/1852118069138853982">social media posts</a> and <a target="_blank" class="" href="https://nypost.com/2024/10/31/opinion/strong-intelligent-women-do-vote-red-and-will-vote-for-donald-trump-on-election-day/">op-eds</a> from female GOP politicians. Cuban apologized, saying he'd unintentionally "set myself up" for a negative sound bite.Thus, no one heeded Vance's call — including the Ohio senator himself. The motivation for both campaigns to harness outrage to their advantage in the closing days of the election is simply too strong.<h2 id="d6dbfaca-0cdb-47ce-9aa5-cc6735301b76">It's all about breaking through the noise</h2>The last week has been all about candidates trying to create "breakthrough moments" to benefit their campaigns, leveraging instances where a candidate or someone associated with them was seen as demeaning a large swath of the American public.There's a lot of noise in the course of a presidential campaign, with candidates (and their surrogates) giving interviews and appearing at rallies virtually every day. For the average voter, particularly those who are less engaged, it's pretty easy to tune it all out — unless there's a moment when one particular event dominates headlines, filters down organically to social media, and spurs conversations at dinner tables.Some breakthrough moments are naturally built into the campaign schedule. Historically, candidates have received a "convention bump" in their polling after their respective nominating conventions, driven by the largely positive coverage that blankets TV networks, newspapers, and, increasingly, social media.Debates also provide natural breakthrough moments, with tens of millions of voters tuning in to watch the candidates face off. But the last debate was one month ago, and the broad contours of the race have remained relatively static since then.That leaves it to each campaign to try to generate their own moments, like when Trump <a target="_blank" class="" href="https://www.businessinsider.com/trump-harris-mcdonalds-fry-cook-economy-election-2024-10">did a photo-op</a> at McDonald's. If that fails, they can try to leverage other developments to their advantage.Both candidates tried to do that this week. Trump's <a target="_blank" class="" href="https://www.businessinsider.com/trump-madison-square-garden-rally-overshadow-economy-puerto-rico-2024-10">Madison Square Garden rally</a> was supposed to spur media coverage about his <a target="_blank" href="https://www.businessinsider.com/trump-blue-cities-minority-voters-republican-campaign-2024-10">inroads</a> with voters who aren't traditionally Republican, while Harris's <a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-closing-argument-washington-dc-speech-policty-economy-trump-2024-10">Ellipse rally</a> was supposed to highlight January 6 and her campaign's closing message.In both cases, they were upstaged by secondary moments that their opponents successfully latched onto, with Hinchcliffe drowning out Trump's rally and Biden spoiling Harris' rally.Outrage is a powerful motivator in politics, and over the last several days, both campaigns have tried to keep up the momentum. It's not hard to see why: In recent memory, both Democratic and Republican presidential candidates have suffered as the result of gaffes made late in the campaign, whether it was Mitt Romney's "47%" comment in 2012 or Hillary Clinton's "basket of deplorables" comment in 2016.And in an election where the media ecosystem is more fragmented than before, social media virality and "meme" value are especially important.It's why Trump donned a bright orange vest and climbed into a garbage truck, and it's why his supporters are responding to Cuban's comments with a social media campaign. These sorts of moments generate far more attention than a policy rollout.In short, with just four days to go until Election Day, don't be surprised if we see one or two more last-minute outrage cycles before then.<meta content="cms.next" name="cmsei" />

The closing note of the 2024 campaign: How dare you?

<ul class="summary-list"><li>US stocks started November with gains even as the latest jobs came in much weaker than estimates. </li><li>Job gains were the lowest since December 2020, impacted by hurricanes and the Boeing strike.</li></ul>US stocks jumped on Friday after the October jobs report missed economist estimates, opening the door for more rate cuts from the Federal Reserve.Major indexes rose, with the Dow Jones Industrial Average rising nearly 300 points. The Nasdaq Composite ended almost 1% higher. The <a target="_blank" class="" href="https://www.businessinsider.com/october-jobs-report-unemployment-rate-nonfarm-payroll-growth-federal-reserve-2024-11">US economy added 12,000 jobs in October,</a> well short of economist estimates of 106,000, representing the lowest job gains since December 2020.The jobs report's weakness was driven by disruptions from hurricanes Helene and Milton, which battered Florida and North Carolina last month, as well as an ongoing strike of about 30,000 Boeing workers.The unemployment rate remained unchanged at 4.1%. The weak jobs report reinforced the case for more interest rate cuts from the Fed, though it puts the Fed in a tight spot given the noise surrounding the report."Given the storm-related distortion, the Fed is in a tight spot as they adhere to data-dependency," LPL chief economist Jeffrey Roach said. "The Fed will likely cut rates in the remaining two meetings as economic conditions weakened."Here's where US indexes stood at the 4:00 p.m. closing bell on Friday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,728.88, up 0.41% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 42,051.80, up 0.69% (+288.34 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,239.92, up 0.80%</li></ul>Investors were also digesting earnings results from mega-cap tech giants Amazon and Apple. Both companies beat analyst estimates, with <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/amazon-stock-price-q3-earnings-beat-rally-tech-aws-cloud-2024-11">Amazon stock surging about 6%.</a>Apple stock fell after earnings, however, as <a target="_blank" class="" href="https://www.businessinsider.com/apple-stock-earnings-report-call-live-updates-2024-10">weakness in its China business</a> weighed on sentiment, dropping more than 1% in Friday's session. Here's what else happened today:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-trade-djt-bitcoin-harris-election-odds-betting-kalshi-polymarket-2024-11">The Trump trade has wavered as Kamala Harris' odds of winning the election rose in betting markets.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/small-stocks-versus-large-caps-trump-tariffs-citi-2024-11">Why investors should rotate into smaller stocks</a>, according to Citi. </li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/carvana-stock-price-soars-7000-percent-after-2022-bankruptcy-risk-2024-10">Carvana stock has soared more than 7,000% since it narrowly avoided bankruptcy in 2022.</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil rose 0.33% to $69.49 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was higher by 0.37% to $73.08 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> dropped 0.20% to $2,743.80 an ounce.</li><li>The 10-year Treasury yield surged nine basis points to 4.382%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> declined 1.53% to $69,132.</li></ul><meta content="cms.next" name="cmsei" />

Stock market today: Indexes jump as Amazon lifts tech and jobs data boosts rate-cut views

<ul class="summary-list"><li>Gwyneth Paltrow's lifestyle brand Goop conducted another round of layoffs, Business Insider learned.</li><li>The company let go 18% of its staff in September.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/gwyneth-paltrow-goop-lays-off-staff-refocuses-on-beauty-food-2024-9">Gwyneth Paltrow's Goop</a> has conducted its second round of layoffs in as many months, Business Insider has learned.The layoffs, which accounted for less than 6% of staff, affected multiple divisions, including the beauty, programming, engineering, and creative departments. Goop confirmed the layoffs to BI.The goal of the reduction is to "optimize operational efficiency and revenue growth in our key verticals of beauty and fashion," a Goop spokesperson told BI.It's the second known round of cuts this year. In September, the newsletter-turned-e-commerce site laid off 18% of its 216-person staff, or about 40 people. The cuts included at least one member of the company's C-suite, CMO Lauren Johnston.Just last month, actor and Goop founder and CEO Paltrow told <a target="_blank" href="https://wwd.com/beauty-industry-news/beauty-features/gwyneth-paltrow-launches-goop-mascara-1236429700/">WWD</a> that, following the first round of layoffs, Goop was "back in growth mode."The company said those layoffs were part of a larger restructuring, adding that the company — which has at times sold everything from vitamins to home goods — was doubling down on beauty, food, and fashion.Earlier this year, the company hired consultants from a company called WestView to streamline business, the company told BI.<a target="_blank" class="" href="https://www.businessinsider.com/gwyneth-paltrow-started-goop-without-business-expertise-2024-9">Goop</a> launched 16 years ago, has garnered fans and critics alike with its viral products — like a candle advertised as smelling like Paltrow's orgasm — and health advice. It has also attracted money: The company has raised more than $140 million from blue-chip firms like NEA, Lightspeed Venture Partners, and Felix Capital and was most recently valued at $433 million, per PitchBook.Paltrow has said that accepting that much in venture funding hasn't always been easy."You start fielding questions about scale, especially if you've taken VC money. And that's where I think it can be very, very difficult. And frankly, where I've made mistakes along the way," she said at a Forbes conference in September.Since it began as a newsletter, the <a target="_blank" class="" href="https://www.businessinsider.com/goop-history-gwyneth-paltrow-controversy-products-2019-9">company has pivoted several times.</a> It's had a publishing imprint, magazine, and Netflix series, which are now seemingly paused or defunct. At times, it has focused on wellness and sold vitamin regimens — only one of those is still available for purchase — and has teased an expansion into home furnishings.Now, the company is prioritizing its fashion, beauty, and food businesses, it told WWD in September. These include in-house clothing brand G. Label, beauty lines Goop Beauty and Good Clean Goop, and delivery-only Goop Kitchen restaurants.The brand has gone through personnel changes before. In 2021, <a target="_blank" href="https://www.businessinsider.com/gwyneth-paltrow-goop-executive-exodus-salary-burnout-complaints-2021-9">BI reported</a> that at least 140 employees, including high-level executives, had left the company in a two-year period.<meta content="cms.next" name="cmsei" />

Gwyneth Paltrow's Goop undergoes second round of layoffs in two months

<ul class="summary-list"><li>Russian influence actors created a fake Georgia voter fraud video, according to US intel officials.</li><li>The video falsely shows Haitian nationals illegally voting for Kamala Harris in Georgia.</li></ul>Russian influence actors were behind the fake Georgia voter fraud video that's been circulating online, US intelligence officials said.In a <a target="_blank" class="" href="https://www.dni.gov/index.php/newsroom/press-releases/press-releases-2024/4014-pr-28-24">joint statement released</a> on Friday, the Office of the Director of National Intelligence, the FBI, and the Cybersecurity and Infrastructure Security Agency (CISA) said Russia made a false video purporting to show non-US citizens from Haiti illegally voting in multiple counties in Georgia.<a target="_blank" class="" href="https://x.com/DominicScali/status/1852267380334039440">In the video</a>, a man claims that he and an unknown number of other people came to the US from Haiti six months ago, obtained US citizenship and licenses, and voted for Kamala Harris in Georgia's Gwinnett County and Fulton County. He holds up what appears to be fake licenses — all with the same ID picture — and invites "all Haitians to come to America and bring families."The video spread across multiple social media sites, including X, with <a target="_blank" class="" href="https://x.com/DominicScali/status/1852267380334039440">users calling out voter fraud in favor of Harris</a>.But it's all fake, and the result of Russian interference, the US intel group says."This Russian activity is part of Moscow's broader effort to raise unfounded questions about the integrity of the US election and stoke divisions among Americans, as detailed in prior ODNI election updates," the ODNI, FBI, and CISA said in their joint statement.The intelligence group said they made their judgement based on "information available" to them and on "prior activities of other Russian influence actors, including videos and other disinformation activities."Prior to the statement, Georgia's Secretary of State <a target="_blank" class="" href="https://x.com/GaSecofState/status/1852140776882315763">Brad Raffensperger posted on X</a> on Thursday calling out the video as "obviously fake" and likely "a production of Russian troll farms."In a <a target="_blank" class="" href="https://x.com/GaSecofState/status/1852159394382786789">statement posted on X</a>, Raffensperger urges "Elon Musk and the leadership of other social media platforms to take this down."More disinformation is likely to crop up before Election Day and beyond, the US intel group warned."In the lead up to election day and in the weeks and months after, the IC expects Russia to create and release additional media content that seeks to undermine trust in the integrity of the election and divide Americans," the group said in its statement, referring to itself as the "intelligence community" or "IC."Russia has a long history of running disinformation campaigns in the US.A NewsGuard audit over the summer found that leading <a target="_blank" class="" href="https://www.businessinsider.com/ai-chatbots-russian-propaganda-fuel-conspiracy-theories-ahead-election-2024-6">AI chatbots were falsely citing Moscow-funded</a> fake news sources as fact more than 30% of the time. And a 2023 US intelligence assessment found that Russia uses spies, social media, and state-sanctioned media to denigrate and sow distrust in democratic elections around the world, Business Insider previously reported.Meta wrote in a recent report that <a target="_blank" class="" href="https://www.businessinsider.com/meta-russia-misinformation-ai-generated-news-stories-us-election-2024-8">Russia is the top source of misinformation</a> in the world, warning that the country will focus on influencing the US election and gaining support for its widely criticized war in Ukraine.<meta content="cms.next" name="cmsei" />

US intel says Russian actors made the fake Georgia voter fraud video — and expects more to come

<ul class="summary-list"><li>For many, November 1 marks the start of the Christmas-decorating season.</li><li>Jessica Bolio, a 27-year-old content creator, began decorating her home for Christmas in October.</li></ul>Every November 1, Mariah Carey declares "it's time" for the <a target="_blank" class="" href="https://www.businessinsider.com/unique-us-christmas-traditions-2017-12">Christmas</a> season to begin.This year, that was too late for Jessica Bolio.Bolio — a 27-year-old stay-at-home mom and content creator from Fowler, California, near Fresno — began <a target="_blank" class="" href="https://www.businessinsider.com/guides/home/best-christmas-decorations">decorating for Christmas</a> before October was even over."This year, my son started school, and that's been a whole new experience as a mom," she told Business Insider last month. "Because this year has been a little crazy, I wanted some of that Christmas joy earlier."<div type="image" title="Jessica Bolio's bookshelf decorated for Christmas." height="4032" width="3024" msid="114860939" hostid="261" sizebytes="1470404"></div>Last month, Bolio spent about $400 transforming her library into a winter wonderland with twinkle lights, candy canes, and a large fake tree. The room's centerpiece is a massive floor-to-ceiling bookshelf brimming with her collection."My son loves the decorations," she said. "He helped me decorate this year and put all of the glass decorations up on the shelves he could reach."<h2 id="9f38e8e7-d367-491c-af64-f6a572841790">Not everyone likes an early Christmas</h2>Bolio said that while she loves the festive season's earlier start, she understands that some people don't share her enthusiasm.As a content creator, she posts book reviews and other shopping and lifestyle recommendations to the 52,000 people who follow her on Instagram <a target="_blank" class="" href="https://www.instagram.com/theintrovertedition/">@theintrovertededition</a>.<div type="image" title="The sitting area of Jessica Bolio's bookroom." height="3972" width="2978" msid="114860940" hostid="261" sizebytes="828234"></div>She added that she does get comments and direct messages on Instagram from people criticizing her decision to decorate early, even though most of the feedback is positive."A lot of the people who complain about it are those who love Halloween, so they don't want to see Christmas decorations," she said. "I say, if you don't like it, just don't look. It's not hurting anybody, and it's in my own home."<h2 id="95fce0f7-6ac7-4f61-961f-d593b0484449">The business of Christmas</h2>Market-research firm Prophecy Market Insights projected that the Christmas-decoration industry will grow from $8.45 billion in 2024 to $13.04 billion by 2034.According to a National Retail Federation survey conducted by Prosper Insights &amp; Analytics, this year the typical consumer will spend an average of $902 on items including gifts, food, decorations, and other seasonal items. The $902 figure is a record high, up $25 from 2023 and a jump of $16 from the previous record, set in 2019.One factor contributing to the increase may be that retailers are stocking holiday items and offering sales earlier in the year.The winter holiday season has historically started at Halloween, but it's shifted sooner, said Sky Canaves, a retail and e-commerce analyst at EMARKETER.Canaves said the trend began with Amazon moving Prime Day to October in 2020 and officially establishing an annual October sale by 2022, prompting other major retailers to follow. Now, Amazon Prime Day, held on October 8 and 9 this year, is seen as the kickoff to the holiday season."Retailers used to wait until Halloween had passed to put out the Christmas decor, now we're more likely to see Halloween and Christmas sections side-by-side," Canaves said. "It can be a bit jarring at first, but shoppers are getting used to it."<h2 id="20b95d56-ad5c-4a0f-9735-97f07843a7a0">Her Christmas aesthetic isn't just red and green</h2>Bolio shops for decorations from At Home, HomeGoods, T.J. Maxx, and Michaels. She also browses Facebook Marketplace and thrift stores for unique finds — especially pink ones."Pink is my favorite color, so I get excited to find decorations that aren't the traditional Christmas colors like red and green," she said. "I have pink gingerbread houses, trees, and nutcrackers."She draped her shelves with string lights and lined each surface with artificial snow, placing miniature Christmas trees and signs proclaiming "Joy" and "Believe" amid the books. A snowman cup sits on a shelf beside her copy of "<a target="_blank" class="" href="https://www.goodreads.com/book/show/58724801-the-bodyguard">The Bodyguard</a>" by Katherine Center."I feel like <a target="_blank" class="" href="https://www.businessinsider.com/fall-thanksgiving-decor-shopping-target-vs-anthropologie-2024-10">decorating </a>brings great joy," she said. "When I sit in the room, I feel very calm and have a sense of peace."<div type="image" title="A headshot of Jessica Bolio." height="3919" width="2939" msid="114860942" hostid="261" sizebytes="1233280"></div>Bolio plans to finish decorating the rest of her house for Christmas soon.Valentine's Day, however, is her Super Bowl, and she's already making a game plan."I like to go all out," she said. "I'll have pink and red hearts everywhere, and my bookshelves will be filled with Valentine's Day decor."<meta content="cms.next" name="cmsei" />

A millennial who decorates for Christmas early doesn't care some people think it's too soon. It brings her joy and peace.

<ul class="summary-list"><li>A major Russian bank launched a 2% mortgage rate that is available only in occupied Ukraine.</li><li>The rate is rock-bottom, and fixed for 30 years. Russia's main interest rate is 21%.</li></ul>Russia is debuting a rock-bottom mortgage rate with a catch: it's only available if you live in a warzone.In a <a target="_blank" class="" href="https://www.vtb.ru/about/press/news/?id=204159">press release</a> on Wednesday, Russia's VTB Bank announced a mortgage with a rate of 2%, fixed for as long as 30 years.The rate applies only to the regions of Luhansk and Donetsk, which are mostly under Russian occupation.The 2% mortgage is an economic anomaly — far cheaper than other borrowing.The main interest rate there is 21%, with conventional mortgages around that mark as well. Inflation runs about 8%.VTB said the borrowers could take loans of up to 6 million rubles, or roughly $61,000. Average salaries in Russia are around $10,000 a year.VTB is mostly owned by the Russian state, and while it didn't give a reason for the low rate, it aligns with other Russian efforts to cement its hold on occupied land. It did not respond to a request for comment.Russia claimed the two territories as its own in a September 2022 annexation, even as some parts of them remained in Ukraine's hands or on the front lines.The US, NATO, and Ukraine's allies have long called on Russia to withdraw from the territory and return it to Ukraine, which continues to fight for it.That return gets harder if more and more Russians move there.Agathe Demarais, a senior policy fellow on geoeconomics at the European Council on Foreign Relations, saw the low rate as a clear incentive for Russians in the area to stay there."The aim is to consolidate Russia's long-term presence — through 30-year loans, which is highly unusual in Russia — in the occupied Ukrainian regions," she told Business Insider.Other moves by Russian to tighten its grip include implementing a Russian curriculum in schools, including a pro-Russian view of history. It also made the ruble the official currency, supplanting the Ukrainian hryvnia.Ukraine <a target="_blank" class="" href="https://sprotyv.mod.gov.ua/en/putin-plans-to-populate-the-temporarily-occupied-territories-of-ukraine-with-trustworthy-people/">says</a> Russia has offered financial incentives, up to 5 million rubles or $51,000, to Russians who move there.<h2 id="01b6d241-170d-4650-8c0c-8039c44dafce">A topsy-turvy housing market</h2>Russia <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-07-01/russia-ends-housing-mortgage-subsidy-that-stoked-a-property-boom">has subsidized mortgages by offering attractive rates before</a>, though to a lesser extent.It did so near the beginning of the COVID-19 pandemic and then to counter the sanctions piled on it by Western nations after the 2022 invasion, capping them at 8%.However, house prices soared in response and Russia <a target="_blank" class="" href="https://www.themoscowtimes.com/2024/10/18/russias-real-estate-market-rocked-by-the-end-of-generous-mortgage-subsidies-a86738">pulled the broad subsidy in July</a>.The new rate for the occupied regions offers Russians far better terms than even the earlier subsidy — but with the significant catch of living close to the war.<h2 id="4fd3d16d-28af-4c7e-aa32-4bc88a198c7b">Fierce fighting</h2>Russian troops are trying to capture the remainder of Luhansk and Donetsk, which Ukraine still holds.Those territories had long been relatively static, though host to fierce fighting.But in recent days, reports accumulated that Russia was taking more ground there. <a target="_blank" class="" href="https://www.reuters.com/world/europe/russia-took-196-square-km-ukraine-last-week-agentstvo-media-says-2024-10-29/">Reuters reported</a> that the advance was its fastest in a year.<meta content="cms.next" name="cmsei" />

A new way for Russia to cement its hold on Ukraine: dirt-cheap mortgages

<ul class="summary-list"><li>Shared Access worked with a football club to power headsets for fans with visual impairments.</li><li>It installed a private 5G network for fast connectivity and nearly instantaneous streaming.</li></ul>This as-told-to essay is based on a conversation with Sam Jackman, the chief development officer of Shared Access, a European company that develops mobile-connectivity solutions. The following has been edited for length and clarity.My company, Shared Access, has been working with the Crystal Palace Football Club in London for years to improve <a target="_blank" class="" href="https://www.businessinsider.com/how-5g-technology-leaves-connectivity-legacy-in-olympic-host-cities-2024-8">connectivity</a> at its stadium, Selhurst Park.It started when Vodafone approached Shared Access to help build a system for the stadium that ensures great service even when all 30,000 fans are trying to <a target="_blank" class="" href="https://www.businessinsider.com/paris-olympics-internet-connection-5g-mobile-technology-2024-7">use their phones at once</a>.Last year, the Crystal Palace team came to us for help supporting a specific cohort of fans: those with visual impairments. In partnership with <a target="_blank" href="https://www.givevision.net/">GiveVision</a>, they were working on deploying headsets that <a target="_blank" class="" href="https://www.businessinsider.com/5g-tech-innovations-behind-paris-olympic-games-connectivity-timeline-2024-8">stream live match footage</a> directly to fans with partial sight, allowing them to sit anywhere in the stadium but see every moment in sync with the pitch action — and they needed <a target="_blank" class="" href="https://www.businessinsider.com/5g-advanced-standalone-6g-qualcomm-huawei-mwc-2024-3">faster connectivity</a> to make it happen.<h2 id="a62d967b-58dc-4173-a02e-13c9a124d3fe">The existing networks weren't cutting it</h2>Before coming to us, the team working on the project tried running the headsets over WiFi, but there was too much latency. People using the headsets experienced everything on a slight delay, with the fans around them reacting to something on the field before they could see the action.The 4G network that we'd previously deployed with Vodafone, and even public 5G networks, weren't going to do the job. Public networks have a lot of firewalls and protocols that create additional delays, such as the need for data to travel from the stadium to the core network of a mobile operator outside the stadium and then back to the user. It's also difficult because the number of other users using the network inside the venue slows things down.We decided to install a <a target="_blank" class="" href="https://www.businessinsider.com/how-private-wireless-connectivity-changing-airport-experience-aviation-mwc-2024-10">private 5G network</a> with an on-site core in the stadium. This allows for fully enclosed connectivity within the venue, avoiding external data transfer and eliminating the security-protocol challenges of major mobile-network operators. It provides nearly instantaneous performance, with faster speeds than 4G and even purer 5G speeds than most public users experience. Additionally, because the club has total control over who can use the network, it can ensure all the bandwidth goes to these headsets only.On September 21, we officially launched the program, making Crystal Palace FC the first football club in the world to offer a permanent vision-enhancement system at its stadium for fans with sight impairments. Since we've launched, we've seen more fans with visual impairments who previously didn't think coming to a game was worth it show up and have a great experience.<h2 id="aeed7829-1de0-4bc7-8572-0328ee6a1095">Future applications for private 5G networks</h2>While helping these fans see is more than enough justification for implementing this private network, there are also so many <a target="_blank" class="" href="https://www.businessinsider.com/ai-edge-computing-5g-cloud-artificial-intelligence-2024-3">opportunities</a> for how the tech could be used.For instance, <a target="_blank" class="" href="https://www.businessinsider.com/barcelona-market-la-boqueria-5g-ar-personal-shoppers-2023-9">food and beverage vendors</a> could use the private network to power their tills, allowing the stadium to expand its food offerings to areas that previously didn't have strong enough connectivity. Security cameras could be installed in places where it's physically too difficult to get power and fiber wiring. Broadcasters may be able to use private 5G to get footage out more quickly, and without having to deploy as much equipment to the stadium, which would reduce the <a target="_blank" class="" href="https://www.businessinsider.com/paris-olympics-how-5g-tech-could-curb-environmental-impact-2024-7">carbon footprint</a> of their work.It doesn't have to be just sports, either. I'd suggest any kind of venue to consider: What are your problems? What are the things you'd love to do but think you can't because of connectivity?Ultimately, having the foundation of this private network allows so much room for creativity in terms of what you can layer on top of it. Twelve months ago, I'd never heard of GiveVision's headsets, and it had never thought about using a private 5G network, so this collaboration ended up being perfect. Who knows what other applications are out there? I hope other partners and vendors collaborate just as imaginatively to come up with possibilities.<meta content="cms.next" name="cmsei" />

My company partnered with a football club to install a permanent 5G-powered headset system for visually impaired fans

<ul class="summary-list"><li>Daze, a messaging app aimed at middle and high schoolers, has 187,000 people on its waitlist.</li><li>The app launches November 4 for iPhone and Android and its marketing videos went viral on TikTok.</li></ul>An upcoming messaging app for Gen Z looks a lot different than your typical iPhone or WhatsApp conversation.It's called Daze, and CEO Willem Simons told Business Insider that 187,000 people had joined the waitlist for early access ahead of the app's launch next week.The app gained traction after the startup posted several viral TikToks that offered a glimpse at what a conversation on Daze can look like, filled with visually stimulating text strings with floating fonts in different shapes and sizes and interactive gifs.The videos drew millions of <a target="_blank" class="" href="https://www.tiktok.com/@daze.chat/video/7415726395835469102?is_from_webapp=1&amp;sender_device=pc&amp;web_id=7428319955400017438">views</a>.<blockquote class="tiktok-embed" cite="https://www.tiktok.com/@daze.chat/video/7415726395835469102" data-video-id="7415726395835469102" style="max-width: 605px;min-width: 325px;"> <section> <a target="_blank" title="@daze.chat" href="https://www.tiktok.com/@daze.chat?refer=embed">@daze.chat</a> Theres a troll on the next stop… <a title="collage" target="_blank" href="https://www.tiktok.com/tag/collage?refer=embed">#collage</a> <a title="drawing" target="_blank" href="https://www.tiktok.com/tag/drawing?refer=embed">#drawing</a> <a title="textingmycrush" target="_blank" href="https://www.tiktok.com/tag/textingmycrush?refer=embed">#textingmycrush</a> <a title="creative" target="_blank" href="https://www.tiktok.com/tag/creative?refer=embed">#creative</a> <a title="brat" target="_blank" href="https://www.tiktok.com/tag/brat?refer=embed">#brat</a> <a title="relationshipadvice" target="_blank" href="https://www.tiktok.com/tag/relationshipadvice?refer=embed">#relationshipadvice</a> <a title="chat" target="_blank" href="https://www.tiktok.com/tag/chat?refer=embed">#chat</a> <a target="_blank" title="♬ Sailor Song - Gigi Perez" href="https://www.tiktok.com/music/Sailor-Song-7393372402044094480?refer=embed">♬ Sailor Song - Gigi Perez</a> </section> </blockquote> The emphasis on imaginative visuals was deliberate. Simons told BI that the app is aimed at middle schoolers and high schoolers. Of the 2,000 beta testers, Simons said most fall between 13 to 22 years old. You have to be at least 13 years old to sign up.Simons said he was partly inspired to create an interactive app by <a target="_blank" href="https://www.businessinsider.com/gen-z-fighting-loneliness-making-friends-book-run-social-clubs-2024-8">his own experience as a teen</a>. The 27-year-old, who has cofounded other startups, including the messaging app Muze, said he grew up in a somewhat rural environment and couldn't always be in person with friends."So we were hanging out largely through messengers and things like Skype," Simons said, adding that, "messaging is not just about utility, it's also about hanging out with people."<a target="_blank" class="" href="https://www.businessinsider.com/gen-z-most-accomplished-loneliest-generation-blame-parents-fault-2022-4">In middle school and high school</a>, Simons said people tend to have much larger groups of people they consistently communicate with. Once people get to college, they're hanging out a lot more in person, he said."Texting is still obviously a huge part of college culture," Simons said. "But I think high school is really at the core of what we're going for."Simons said people are resonating with Daze's promotional videos because of the relatable narrative portrayed in the videos. Simons said the videos show real-life scenarios of kids interacting, like a guy asking out a girl."It's using the format to illustrate it in this creative way," Simons said.<blockquote class="tiktok-embed" cite="https://www.tiktok.com/@daze.chat/video/7432084017916185899" data-video-id="7432084017916185899" style="max-width: 605px;min-width: 325px;"> <section> <a target="_blank" title="@daze.chat" href="https://www.tiktok.com/@daze.chat?refer=embed">@daze.chat</a> Why do the good ones always have boyfriends :’( <a title="messaging" target="_blank" href="https://www.tiktok.com/tag/messaging?refer=embed">#messaging</a> <a title="textingmycrush" target="_blank" href="https://www.tiktok.com/tag/textingmycrush?refer=embed">#textingmycrush</a> <a title="cute" target="_blank" href="https://www.tiktok.com/tag/cute?refer=embed">#cute</a> <a title="roleplay" target="_blank" href="https://www.tiktok.com/tag/roleplay?refer=embed">#roleplay</a> <a title="flirting" target="_blank" href="https://www.tiktok.com/tag/flirting?refer=embed">#flirting</a> <a title="rizz" target="_blank" href="https://www.tiktok.com/tag/rizz?refer=embed">#rizz</a> <a title="chat" target="_blank" href="https://www.tiktok.com/tag/chat?refer=embed">#chat</a> <a title="relationships" target="_blank" href="https://www.tiktok.com/tag/relationships?refer=embed">#relationships</a> <a target="_blank" title="♬ delulu - NESYA" href="https://www.tiktok.com/music/delulu-7311392286842210305?refer=embed">♬ delulu - NESYA</a> </section> </blockquote> Simons said that when social media and messaging platforms started out with apps like Tumblr, it was more "freeform." Then <a target="_blank" class="" href="https://www.businessinsider.com/facebook-history-dorm-room-photos-mark-zuckerberg">Facebook </a>came along and standardized communication with templates, and the rest of the internet followed suit, he said.There's increasing interest in "expressivity" again, the CEO said, and TikTok and Instagram stories are allowing people to lean into it. <a target="_blank" class="" href="https://www.businessinsider.com/category/snapchat#:~:text=The%202%20social%20media%20apps,other%20platforms%2C%20Emarketer%20data%20shows.">Snapchat</a>, which is <a target="_blank" class="" href="https://www.businessinsider.com/snapchat-leans-away-ai-into-real-experiences-gen-z-social-2024-5">especially popular for kids and teens right now</a>, "captivates people because it's super casual," Simons said."I think with Daze, we've kind of taken that a step further where you can just send a silly photo or you can make a drawing or make little collage," Simons said. "So it feels even more casual and playful."The app will be free, and Simons said the startup plans to monetize by offering users the ability to pay to unlock animated text styles or image effect filters. It's an opportunity to integrate AI as well through various formats.Simons pointed to a <a target="_blank" class="" href="https://www.tiktok.com/@wonkeekong/video/7423222171398425902">viral trend</a> of people squishing an image of somebody and said he sees a similar type of premium feature with Daze."So you could picture somebody paying a small amount to basically unlock the ability to apply those sorts of effects to photos," Simons said. "And then, it's like you send me a selfie, and I inflate it and you float away."Daze is launching at a time when it's difficult to convince people to change their texting habits and download a new app. An <a target="_blank" class="" href="https://www.emarketer.com/content/consumers-using-installing-fewer-mobile-apps-they-settle-on-favorites">October 2023 report from Emarketer</a>, a sister company to Business Insider, said that smartphone users aren't downloading or using as many apps.The startup will need to convince people to try Daze over competitors like Snapchat and as tech giants like Apple and Google add features to their own messaging products, including AI-generated visuals like the upcoming <a target="_blank" class="" href="https://www.businessinsider.com/apple-intelligence-coolest-new-ai-features-announced-wwdc-2024-6">"Genmoji,"</a> in an effort to retain their user base.Daze isn't necessarily trying to replace other apps though. Simons said he sees people using different messaging apps for different people in their lives, and he sees Daze being a place to connect with close friends. There isn't a need to use expressive features to message people like your doctor, he said.Simons envisions Daze eventually expanding into a larger social platform. For now, though, he said the startup is focused on making "something really cool" that attracts millions of users. As the company validates its market fit and gets more people on board, Simons said it will put more effort toward monetizing it.Daze launches November 4 for iPhone and Android.<meta content="cms.next" name="cmsei" />

Nearly 200,000 people are on the waitlist to try out a new Gen Z messaging app that launches next week

<ul class="summary-list"><li>Oprah endorsed Meta's Ray-Ban smart glasses in her holiday gift list.</li><li>The "Oprah Effect," a phenomenon associated with Winfrey, could make the glasses even more popular.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/meta-new-ray-ban-smart-glasses-apple-vision-pro-2024-9">Meta's smart glasses</a> are already outperforming expectations, and they just won a powerful endorsement as the holiday season kicks off.Oprah Winfrey listed the Ray-Ban Meta Smart Glasses in <a target="_blank" class="" href="https://www.oprahdaily.com/life/a62333557/oprahs-favorite-things-2024/">"Oprah's Favorite Things 2024,"</a> her annual gift guide on her digital platform called Oprah Daily."The gift of the season! I'll be giving these to lots of folks this year. Ray-Ban and Meta's newest glasses can tell you what you're looking at in a new city, translate a menu from a foreign language, play music, snap photos, take a phone call, and more," Winfrey said, linking to the glasses on Amazon and Meta.Products Winfrey recommends typically benefit from a surge in sales and popularity, a phenomenon dubbed <a target="_blank" class="" href="https://www.businessinsider.com/oprah-winfrey-left-ww-sent-stock-spiraling-spells-doom-diets-2024-2">the "Oprah Effect."</a>It may provide another boost to the wave of success that <a target="_blank" class="" href="https://www.businessinsider.com/meta-new-ray-ban-smart-glasses-apple-vision-pro-2024-9">Meta's smart glasses</a> have already seen.In <a target="_blank" class="" href="https://www.businessinsider.com/meta-stock-earnings-report-call-live-updates-2024-10">Meta's earnings call</a> this week, CEO Mark Zuckerberg said the glasses continue to see strong consumer demand. He previously said they were "a bigger hit sooner than we expected," something he touched on again during the earnings call."I continue to think that glasses are the ideal form factor for AI because you can let your AI see what you see, hear what you hear, and talk to you," Zuckerberg said. "Demand for the glasses continues to be very strong."He pointed to a limited-edition clear version of the glasses, which became available during <a target="_blank" class="" href="https://www.businessinsider.com/meta-ray-bans-have-new-features-smart-glasses-2024-9">Meta's product launch</a> in September. The glasses, originally listed for $429, are reselling online at over $1,000, Zuckerberg said.Susan Li, Meta's chief financial officer, said during the earnings call that the company had already "evolved our roadmaps" to respond to the quick success of the glasses and would be "investing appropriately behind the consumer momentum that we see."Francesco Milleri, the CEO at EssilorLuxottica, which makes Ray-Bans, told the Financial Times that he thinks smart glasses will replace smartphones in popularity.In terms of popularity, at least, Winfrey seemed to agree. She listed the smart glasses as the ideal gift for "the traveler, the techie, and the trendsetter."<meta content="cms.next" name="cmsei" />

Oprah just favorited Meta's Ray-Ban glasses in the latest sign the product is taking off

<ul class="summary-list"><li>Elon Musk's ownership has shifted X's political stance, affecting Democratic ad spending.</li><li>Some Democratic ad campaigns still see opportunities in ads on X, formerly known as Twitter.</li></ul>While some Democratic political advertisers — including Kamala Harris' presidential campaign — have stopped spending on X altogether, a small number are holding firm.Two years after billionaire Elon <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-twitter-reach-agreement-to-close-acquisition-deal-2022-10">Musk bought X</a>, the social media site formerly known as Twitter leans far more conservative. Musk has <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-donald-trump-support-reflects-business-approach-tesla-2024-10">fundraised for Trump</a>, <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-rally-elon-musk-save-department-government-efficiency-2024-10">revved up supporters</a> at his rallies, and apparently has an open spot in the <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-trump-cabinet-election-x-2024-9">former president's cabinet</a> should he win next week's election.That hasn't stopped some Democratic campaigns from advertising on X. <a target="_blank" href="https://www.businessinsider.com/colin-allred-interview-ted-cruz-texas-senate-race-2024-10">Rep. Colin Allred</a> ran ads this month to drum up donations as he seeks to defeat Sen. Ted Cruz in the Texas Senate race. The @ColinAllredTX account has spent almost $322,000 on X ads this year, per an analysis of X's US political and campaigning ads disclosure report. The public archive was last updated on October 26.Elsewhere, Sen. Jon Tester of Montana has run an ad in the style of an iPhone Notes app message featuring a picture of him holding a jar of pickles."There's no denying it—we're in a pickle," read the ad, which seeks donations for Tester's reelection campaign. The account has spent about $259,000 in the year to date, the X ad disclosure reported.<blockquote class="twitter-tweet">Montana is the most important race on the map—your donation will help us reach undecided voters before time runs out. I need your help to defeat Tim Sheehy and defend our way of life. With all donations being triple-matched, will you help us get out of this pickle by pitching in?— Jon Tester (@jontester) <a href="https://twitter.com/jontester/status/1843353852541915284?ref_src=twsrc%5Etfw">October 7, 2024</a></blockquote>X didn't respond to a request for comment for this story.<h2 id="1aae6362-1585-415f-8352-1b0033713ae0">X remains a town square for news</h2>Political ad experts said X remains an essential platform for reaching voters in the tightly fought election period. Notable users are still posting, and it's still one of the <a target="_blank" class="" href="https://www.businessinsider.com/twitter-x-elon-musk-startup-competitition-town-square-election-2024-10">first places</a> where people of all political leanings go to catch up on breaking news. Harris still posts frequently on X, even though her campaign isn't buying ads.X CEO Linda Yaccarino <a target="_blank" class="" href="https://x.com/lindayaX/status/1823115684479414761">tweeted in August</a> that 37 million Democrats, 32 million Republicans, and 34 million swing voters use X, citing <a target="_blank" class="" href="https://digiday.com/marketing/the-rundown-what-is-causeway-solutions/">Causeway Solutions</a>, a data firm with Republican links that applies predictive modeling to publicly available data."One side of the aisle may be more comfortable advertising on X, but that doesn't mean you can leave a vacuum on the other side," said Tyler Goldberg, director of political strategy at the media agency Assembly Global. "There's a reason why you see Democrats on Fox News buying ads."Mike Nellis, CEO of the Democratic campaign firm Authentic, said X has performed particularly well for fundraising pushes for "name brand" Democrats. Nellis, who organized the <a target="_blank" href="https://www.businessinsider.com/white-dudes-for-harris-twitter-account-elon-musk-donald-trump-2024-7">"White Dudes for Harris" online fundraiser</a>, also said X had improved its offering for creators who pay to be verified to boost their reach and access tools like analytics and its Media Studio."I have a love-hate relationship with this website. It has a vibrancy to it I don't think has been there for a very long time, and I'm enjoying that aspect in the middle of a close election," Nellis said. "At the same time, I've been doxxed on this website."X has made a dedicated effort to bring in political campaign ad buyers. Last November, it convened a group of them for cocktails at the Riggs Hotel in Washington, DC.Led by Matthew Madrazo, X's lead client partner for Republican accounts, and Jonathan Phelps, X's lead client partner for the Democratic side, the X political ads team pitched advertisers on the site's audience, the evolution of its ads offering, and how X intended to show up for US elections.Attendees described a room packed with political agencies and campaign honchos from both sides of the aisle — as well as multiple ID checks and super-tight security prowling the room to enforce the strict "no recording" policy. There was no Q&amp;A.<h2 id="42ea127c-9e5a-44d4-aefd-d16f557dd547">X is falling short on lost advertising revenue</h2>Republicans far outspend Democrats on X. @TeamTrump alone has spent close to $1 million this year; @LaraLeaTrump, @tedcruz, and @RandPaul are among the Republican accounts that have spent more than $500,000, X's ad disclosure said.The roughly $15 million spent so far by all political advertisers this year falls dramatically short of the $100 million target X had reportedly set itself for the 2024 US election cycle, <a target="_blank" href="https://www.ft.com/content/b7845bef-55d5-4297-a15a-db37f71e014e">the Financial Times reported</a>.Pre-Musk, Twitter generated under $3 million in political ad spend for the 2018 US midterms, <a target="_blank" href="https://x.com/nedsegal/status/1189651487065923584?lang=en-GB">according to Ned Segal, its former chief financial officer</a>. It ceased taking political advertising in 2019 under former CEO Jack Dorsey; Musk <a target="_blank" class="" href="https://www.businessinsider.com/political-advertisers-cheer-elon-musk-twitter-political-ad-ban-reversal-2023-1">reversed</a> that decision last year.Political advertising on X had always been a tiny portion of the total. The research firm EMARKETER predicted that political ad spending in the US will <a target="_blank" class="" href="https://www.emarketer.com/content/what-marketers-learn-political-campaign-ad-spending-strategies">top $12 billion</a> this year. TV advertising, at $7 billion, accounts for most of that outlay. Meta and Google are forecast to be the big online winners, bringing in around $569 million and $553 million from political ads, respectively.In August, ad spending on X was down 68% versus the prior year, according to Guideline, an analytics firm that tracks spending from major advertising agencies.X has been banking on the US election season to recoup revenue lost after several major brands dialed down their spending on the site or <a target="_blank" class="" href="https://www.businessinsider.com/ebiquity-data-most-advertisers-stopped-spending-x-twitter-2023-10">exited altogether</a> amid concerns about content moderation and its general reliability and effectiveness. Some Democratic advertisers said X is a no-go zone for similar reasons."Between the hate speech that's going unpoliced to the ad placements that are being shown alongside it to Elon himself, it's at the point where it's not a great fit for many clients," said Mark Jablonowski, president of the Democratic political adtech firm DSPolitical.Andy Kiersz contributed reporting for this story.<meta content="cms.next" name="cmsei" />

Some Democratic political advertisers are still betting on X, despite Elon Musk's allegiance with Donald Trump

<ul class="summary-list"><li>Multiple outlets reported, citing unnamed sources, that a "Game of Thrones" movie is in the works.</li><li>HBO previously rejected the idea of a "Game of Thrones" movie.</li></ul>"<a target="_blank" class="" href="https://www.businessinsider.com/kit-harington-game-of-thrones-finale-mistakes-story-2024-8">Game of Thrones</a>" may soon be getting the big screen treatment.On Thursday, <a target="_blank" class="" href="https://deadline.com/2024/10/game-of-thrones-movie-warner-bros-in-early-development-1236163933/">Deadline</a> and <a target="_blank" class="" href="https://www.hollywoodreporter.com/movies/movie-news/game-of-thrones-movie-warner-bros-1236050190/">The Hollywood Reporter</a>, citing unnamed sources, reported Warner Bros. Discovery was developing a "Game of Thrones" movie. It is unclear whether the film will be based on the original series or tell a different story.A representative for Warner Bros. Discovery did not immediately respond to a request for comment from Business Insider.The reports aren't a surprise. HBO, Warner Bros.'s television network, <a target="_blank" class="" href="https://www.businessinsider.com/how-much-game-of-thrones-episodes-cost-for-production-2019-4">spent millions making </a>"<a target="_blank" class="" href="https://www.businessinsider.com/how-much-game-of-thrones-episodes-cost-for-production-2019-4">Game of Thrones</a>" and was rewarded with one of the biggest TV franchises of the 2010s. "Game of Thrones" won 59 Primetime Emmys and had a huge audience that grew with every season.George R.R. Martin first suggested a "Game of Thrones" movie to tie up the franchise in a 2014 interview with <a target="_blank" class="" href="https://www.hollywoodreporter.com/tv/tv-news/game-thrones-movies-eyed-by-689629/">The Hollywood Reporter</a>. He also said the prequel novella series "<a target="_blank" class="" href="https://www.businessinsider.com/game-of-thrones-spinoff-prequel-stories-book-2017-5">Tales of Dunk and Egg</a>" could work on the big screen.David Benioff and D.B. Weiss, the showrunners of the hit show, told <a target="_blank" class="" href="https://www.wsj.com/arts-culture/television/game-of-thrones-true-blood-creators-3-body-problem-netflix-d0aa9420?mod=style_feat1_magazine_pos1">The Wall Street Journal</a> in February that they wanted to finish "Game of Thrones" with three theatrical movies, but HBO rejected the idea.After the series finale aired in 2019 and fans ached for more stories, HBO planned <a target="_blank" class="" href="https://www.businessinsider.com/game-of-thrones-prequel-spinoff-plans-timeline-hbo">multiple TV spin-offs</a>. Only "House of the Dragon" has aired, but it has been a smash hit like "Game of Thrones."<div type="image" title="A still from the &quot;Game of Thrones&quot; season eight finale showing Maisie Williams, Isaac Hempstead Wright and Sophie Turner sitting down while wearing medieval outfits." height="1707" width="2560" msid="114858969" hostid="261" sizebytes="474552"></div>Matthias Frey, the head of the Department of Media, Culture and Creative Industries at City, University of London, told Business Insider that a "<a target="_blank" class="" href="https://www.businessinsider.com/knight-of-the-seven-kingdoms-game-of-thrones-prequel-details-2024-8">Game of Thrones</a>" film is a "no-brainer.""'Game of Thrones' had one of the most loyal and passionate fan bases of any media franchise for the last 20 years," he said. "In addition, it attracted a broader mass audience of non-fantasy fans who were intrigued by its secondary genres or simply wanted those 'water cooler' moments of being able to discuss what everybody else was watching."Shawn Robbins, director of analytics for movies at ticketing company Fandango and the founder of insights firm Box Office Theory, agreed that a "Game of Thrones" film would be a success. He pointed to the season four finale episodes that were released in US theaters for a week in 2015. They grossed $1.8 million at the box office, according to Box Office Mojo."A big screen iteration would be the perfect fit for a fictional universe with such scale, intrigue, and drama," Robbins said. "There's tremendous opportunity in bringing this IP to the biggest canvas possible as moviegoers increasingly gravitate toward event-level content."<h2 id="d2c58ca9-3bdd-4ba1-9d83-0f20246d0d20">The "Game of Thrones" news comes amid a difficult year for Warner Bros. Discovery.</h2><div type="image" title="A woman in a red dress in front of a golden dragon, a bronze dragon and a castle in the background." height="1409" width="2868" msid="114858963" hostid="261" sizebytes="81480"></div>Warner Bros. Discovery has had a year of ups and downs at the box office. It produced three of the biggest blockbuster hits of 2024 — "Dune: Part Two," "Godzilla x Kong: The New Empire," and "<a target="_blank" class="" href="https://www.businessinsider.com/beetlejuice-2-box-office-jenna-ortega-hollywood-zendaya-2024-9">Beetlejuice Beetlejuice</a>" — and co-produced the "Twisters" reboot, which made $370 million.Their other summer blockbusters, "<a target="_blank" class="" href="https://www.businessinsider.com/most-surprising-box-office-flops-of-the-year-2024-6">Furiosa: A Mad Max Saga</a>" and "The Watchers" underperformed, surpassing their estimated production budgets by a few million dollars.Amid these failures, <a target="_blank" class="" href="https://deadline.com/2024/07/warner-bros-discovery-layoffs-1236011779/">Deadline</a> reported in July, citing unnamed sources, that Warner Bros. Discovery made another round of layoffs on the production, business affairs, and finance side of the company.The biggest failure of the year was "<a target="_blank" class="" href="https://www.businessinsider.com/joker-2-folie-a-deux-reviews-critics-2024-10">Joker: Folie à Deux</a>," the sequel to the billion-dollar 2019 movie "Joker," which has made $201 million so far. <a target="_blank" class="" href="https://variety.com/2024/film/news/warner-bros-spending-joker-2-budget-tom-cruise-deal-1235917640/">Variety</a> reported the film had an estimated production budget of $200 million.Frey said that the "Game of Thrones" movie could be a "last-ditch move to shore up their base with a reliable franchise" after their recent misfires.Since David Zaslav became the CEO of Warner Bros. Discovery in 2022 after Warner Bros. and Discovery merged, he has said that his focus for the company is expanding its major franchises, such as "Harry Potter," DC, and "The Lord of the Rings."<div type="image" title="A man in a black mask with pointed ears on it and a collared cape which is tucked into the black chestplate of his armor. He's standing in a room full of photographs and graffiti." height="1612" width="2370" msid="114858966" hostid="261" sizebytes="145702"></div>A "<a target="_blank" class="" href="https://www.businessinsider.com/harry-potter-tv-series-info-2023-4">Harry Potter</a>" TV series reboot was announced last year after the box office failure of the "Fantastic Beasts" spin-off series. Denis Villeneuve's "Dune" and Matt Reeves' "The Batman" universe have also jumped to the small screen with "Dune: Prophecy" and "<a target="_blank" class="" href="https://www.businessinsider.com/the-penguin-the-batman-timeline-explained-2024-9">The Penguin</a>."Frey said franchises that extend across different media are popular in the industry right now."The name of the game in today's media landscape is to create transmedia story worlds and cross-pollinate brands across a variety of media formats in order to create a monetization pipeline," he said. "Warner Bros. Discovery's decision to produce a 'Games of Thrones' film is part of its strategy to double down on reliable IP in an age of ongoing change and disruption in the media industries," he added.<meta content="cms.next" name="cmsei" />

A "Game of Thrones" movie is reportedly in the works. It comes after a year of box office hits and misses for Warner Bros. Discovery.

<ul class="summary-list"><li>Comcast's Mike Cavanagh said the company will explore ditching its cable networks.</li><li>The company may also look to partner Peacock with a rival streaming service.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/comcast-split-cable-tv-cnbc-bravo-nbc-peacock-2024-10">Comcast</a> said this week it might separate from its cable networks and marry off its streaming service. Several media analysts worry that those moves might only end in heartbreak.Mike Cavanagh, Comcast's president, floated the idea Thursday of spinning out cable networks like CNBC and MSNBC into a new firm while holding on to NBC. If this sounds familiar, it's because rival <a target="_blank" href="https://www.businessinsider.com/disneys-sale-abc-bob-iger-grand-plan-tv-streaming-espn-2023-9">Disney</a> considered a similar move last summer — floating a sale of its broadcast network, ABC — <a target="_blank" href="https://www.businessinsider.com/disney-not-selling-abc-networks-bob-iger-insists-2023-11">before later backtracking</a>.Cavanagh also said Comcast "would consider partnerships in streaming, despite their complexities" — even after reporting that morning that its streaming service, Peacock, added an impressive 3 million subscribers in the most recent quarter.These comments come after Bank of America media analyst Jessica Reif Ehrlich opined over the summer that fellow firm Warner Bros. Discovery <a target="_blank" href="https://www.businessinsider.com/warner-bros-discovery-wbd-zaslav-struggles-streaming-media-strategy-analysis-2024-7">should find a streaming partner</a> or <a target="_blank" href="https://www.businessinsider.com/warner-bros-discovery-split-plan-hbo-max-reaction-2024-7">consider splitting up its business</a>, given that <a target="_blank" href="https://www.businessinsider.com/cable-tv-subscriber-losses-q2-venu-moffettnathanson-2024-9">the pay-TV business is severely challenged</a>.<h2 id="3f451567-2f24-4735-848c-f6eb697ba23d">Why Wall Street isn't sold on a network spinoff</h2>At first, Wall Street seemed to celebrate Comcast's potential strategic shift, as its stock spiked 6% in early trading after Cavanagh's comments and its strong earnings report.However, shares shed much of those gains within a few hours before ending the day up 2.4%. Investors may want Comcast to exit the challenging media business altogether.Several industry analysts said that Comcast could increase its valuation by divorcing itself from its declining cable networks, as it would help emphasize its burgeoning streaming business."We believe a spin would help isolate the value of its growth areas," UBS media analyst John Hodulik wrote in an October 31 note.Craig Moffett of MoffettNathanson agreed, telling Business Insider via email that "it would be a welcome development to shed an albatross business and leave in its wake a cleaner and simpler growth story.""Investors have yearned for exactly this, or at least something close to it, for years," Moffett wrote in a note to clients.While that move may make sense on paper, it could prove to be difficult in practice.There's an obvious issue with such a spin-off, as Business Insider's Peter Kafka noted: <a target="_blank" href="https://www.businessinsider.com/comcast-split-cable-tv-cnbc-bravo-nbc-peacock-2024-10">Who would want to buy these less desirable assets</a>, at least at a price that Comcast could stomach?"Carving out the US cable networks, which include USA, CNBC, and E!, without Peacock or the NBC broadcast network would be odd," wrote Michael Hodel, a media analyst at Morningstar. "The cable networks likely have little value on their own. A spinoff would have to be part of a larger strategic move, like merging with another firm."Macquarie's Tim Nollen agreed, writing on Friday morning that "we question how valuable cable networks would be stand-alone, without ties to NBCU's studio and streaming capability, and lacking advertising tie-ins."Rich Greenfield of Lightshed Partners went further, reasoning <a target="_blank" href="https://lightshedtmt.com/2024/10/31/comcast-all-dressed-up-nowhere-to-go-the-struggle-of-being-open-to-possibilities/">in his note to clients</a> that there isn't a logical partner out there. Starz is a minnow relative to its peers, and Greenfield said it's "certainly not strong enough to protect a weak basic cable network portfolio."And while combining with WBD's TV networks could lead to significant cost savings, Greenfield suspects David Zaslav and company actually have the upper hand on Comcast. Although many thought WBD would be toast without the NBA, Greenfield believes the company <a target="_blank" href="https://www.businessinsider.com/wbd-charter-deal-david-zaslav-nba-comcast-nbc-negotiations-tv-2024-9">could come out ahead</a> by saving money while <a target="_blank" href="https://lightshedtmt.com/2024/10/29/david-vs-brian-are-investors-underestimating-warner-bros-discovery/">maintaining their networks' carriage fees</a>."There would be no urgency to such a combination," Greenfield wrote. "If we were in Zaslav's shoes, you would wait for NBCU to suffer and be opportunistic versus rushing into a merger to help Comcast."<h2 id="41cd4c2c-1365-4685-b790-9c8f8e798e6c">The Peacock partnership puzzle</h2>Comcast's streamer has made steady progress, but it can't truly compete with its larger rivals, analysts said."Even though Peacock has enjoyed some very consistent growth in recent years, it is still very clearly subscale," said Brandon Katz, a senior entertainment industry strategist at Parrot Analytics, in an interview. "It doesn't have the penetration needed to offset what has been back-to-back years of very significant losses."Joining forces with other subscale streamers like Max and Paramount+ may seem like a sound strategy, but Greenfield explained that the logistics would be tough.Peacock only operates in the US, while Max and Paramount+ have global aspirations. Comcast could keep licensing out Peacock's content abroad, though that may not be efficient.Another concern would be subscriber cannibalization. Greenfield estimated that a substantial number of Max and Paramount+ customers already have Peacock. A combined service would cost more, though it may not offset the overlap from ensuing cancellations.And then there's the question of whether Peacock would absorb Max or Paramount+, or vice versa. One of the biggest benefits of building a direct-to-consumer business is owning the customer relationship, so it's unclear which media giant would sacrifice that at this point.Even still, Katz said a Peacock-Max combination could be potent, given that the two services would garner a formidable share of on-platform demand, according to Parrot Analytics.But a Paramount+ tie-up could prove to be a safer option, given that its ownership structure seems more settled now that <a target="_blank" href="https://www.businessinsider.com/david-ellison-paramount-ceo-skydance-larry-ellison-son-2024-7">the Ellisons are backing it</a>.Either streaming partner would require Comcast to sort through a litany of logistics, though doing so may be their best option."Once you find the partnership you like, how do you distribute that most effectively to consumers, and what do you price it as?" Katz said. "It's a lot of unknowns, but a very tantalizing possibility for the industry."<meta content="cms.next" name="cmsei" />

Why Wall Street is skeptical about Comcast's proposal to ditch its cable networks and pair Peacock with a competitor

<ul class="summary-list"><li>Smaller stocks may be poised to outperform amid a low bar for earnings, Citi analysts say.</li><li>Smaller stocks may also be hedged against risks related to a Trump presidency. </li></ul>After a rally this summer, inflows to smaller stocks have dwindled in recent weeks, but the under-the-radar corner of the market may be poised to outperform in the coming months, Citi analysts said.The analysts point to a host of factors, from a low bar for earnings beats to factors related to a potential Donald Trump victory, as signs pointing to an upcoming rally for small-caps.The analysts said that smaller stocks have a lower bar to clear for earnings growth, making it easier for them to impress Wall Street when they report results. They say small and mid-cap stocks are pricing in 2%-10% growth in earnings-per-share over the next three years, while the S&amp;P 500 is expected to show 15%-22% EPS growth."While earnings surprises have been stronger up cap thus far in Q3 reporting, larger or similar percentage beats in certain Small/Mid Cap sectors/names may be rewarded more by markets given a lower bar into results," the analysts said. "The S&amp;P 500, driven by the Magnificent 7, may need stronger results and upward forward estimate revisions to justify current levels."Second, smaller stocks may be hedged from risks related to a second Donald Trump presidency. Trump has proposed sweeping tariffs of 20% on all imports and tariffs of <a target="_blank" href="https://www.businessinsider.com/donald-trump-impose-tariffs-china-if-elected-2024-2?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;_gl=1*w1ioyc*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMDQ2ODgwMS4zNDcuMS4xNzMwNDY5MzgxLjQwLjAuMA..">60% or more on goods from China</a>. The analysts said small-caps have historically been hedged against tariff-related risks. They pointed to how small caps initially outperformed on his surprise victory in 2016, and again after he implemented steel tariffs during his first term. "In both cases, Small/Mid Cap round-tripped relative performance gains when economic data came in softer than expected," the analysts said.At the same time, the market doesn't seem to be expecting much strength from small caps in the case of a Trump win, meaning they have further room to run, the analysts say."Conversely, with low implicit growth expectations, Small/Mid Cap to some degree could be a Trump trade with relatively little priced in at current levels," they said.Finally, their third point noted that small caps generally are less liquid, though they noted that focusing on smaller names could be a trade-off given the opportunities. "Impressive Large Cap performance has clearly created some hesitancy to move down cap, and related, down in liquidity. To us, a move down cap in search of alpha opportunities could help manage certain risks, offering investors a trade-off for lesser liquidity relative to Large," the analysts said.<meta content="cms.next" name="cmsei" />

3 reasons investors should rotate into smaller stocks, according to Citi

<ul class="summary-list"><li>Tony Fadell said Apple's staggered rollout of its AI features is smart.</li><li>Apple Intelligence features became available Monday with iOS 18.1.</li></ul>While Apple's first AI features may not be as flashy as the futuristic demos shown off by OpenAI or Google, former Apple executive Tony Fadell thinks the slow-and-steady strategy was the right move.Fadell, the founder of Nest, who is also known as the "father of the iPod," defended Apple's staggered rollout strategy for <a target="_blank" class="" href="https://www.businessinsider.com/apple-intelligence-48-hours-trial-liked-these-ai-features-best-2024-10">Apple Intelligence</a> at the 2024 TechCrunch Disrupt conference.Apple's AI features launched on iPhones with the <a target="_blank" class="" href="https://www.businessinsider.com/apple-intelligence-finally-here-with-launch-of-ios-18-software-2024-10">release of iOS 18.1</a> on Monday. Those with an iPhone 15 Pro or iPhone 16 can now access the first wave of AI features with the new software update."People were like, 'I downloaded it,' and they were like, 'Apple's AI is meh,'" Fadell said."But it works!" Fadell said. "And that's the thing you want — is you start building things that work, and you build on top of those and make better and better features."Apple arrived noticeably later in the AI race compared to other tech giants like <a target="_blank" class="" href="https://www.businessinsider.com/google-ai-gemini-bard">Google</a> and <a target="_blank" class="" href="https://www.businessinsider.com/microsoft-build-keynote-announcements-copilot-ai-bing-news-2024-5">Microsoft</a>, which had already launched generative AI products throughout the last year. Its long-anticipated Apple Intelligence reveal also featured a more restrained approach, with an <a target="_blank" class="" href="https://www.businessinsider.com/apple-intelligence-doesnt-use-personal-data-company-says-2024-6">emphasis on privacy</a> and practical integrations into various apps and notifications.Fadell, who worked at Apple from 2001 to 2010 and also worked on the iPhone, said that Apple's staggered system is preferable to a larger AI model that "does everything but does nothing well.""I know how these models are built," he said. "I know the algorithms behind them — they are not going to get there."Apple's new <a target="_blank" class="" href="https://www.businessinsider.com/apple-intelligence-features-tested-on-iphone-16-pro-max-2024-10">AI updates</a> include writing tools, message summaries, and the beginnings of the revamped Siri, and Fadell said that the company's decision to implement a smaller model works."It's at the edge, and it doesn't require nuclear power," he said, referencing the growing investments into nuclear energy by some tech giants.Training, developing, and powering AI products requires enormous amounts of energy, leading some Big Tech companies to turn to nuclear power. Microsoft struck a deal with Constellation Energy that will see the Three Mile Island plant reopened by 2028 and provide the company with nuclear power. On October 14, Google <a target="_blank" class="" href="https://www.businessinsider.com/google-nuclear-power-ai-data-centers-2024-10">announced its partnership</a> with startup Kairos Powers to develop small modular reactors (SMRs), which are advanced nuclear reactors. Day later, Amazon <a target="_blank" class="" href="https://www.businessinsider.com/amazon-invests-in-nuclear-for-aws-following-google-and-microsoft-2024-10">announced</a> that its Amazon Web Services division would anchor a $500 million investment into SMRs to provide carbon-free power.Apple is betting that its AI features, which the company heavily marketed the iPhone 16 lineup on, will convince people to upgrade their devices. The company is expecting sales growth in the low to mid-single digits in the upcoming holiday quarter.During <a target="_blank" class="" href="https://www.businessinsider.com/apple-stock-earnings-report-call-live-updates-2024-10#and-thats-wrap">Apple's earnings call</a> on Thursday, CEO Tim Cook talked more about Apple's AI strategy, which plans to release additional Apple Intelligence features in December. The new software will be available not only in US English but also in the UK, Australia, Canada, Ireland, and New Zealand. Cook also said that more languages will be added starting in April."And so, we're moving just as fast as possible while ensuring quality," he said. "That's what we're doing."<meta content="cms.next" name="cmsei" />

'Father of the iPod' says Apple's staggered AI rollout is smart — and 'doesn't require nuclear power'

The rapid acceleration of change in the workplace — from the boom of generative AI to shifting work models — means leaving behind old ideas of what C-suite leadership looks like.For Business Insider's third Workforce Innovation virtual roundtable, we asked board members how C-suite leaders might have previously led their businesses and how old approaches are giving way to a distinctly new way of executive leadership.Several board members said change needed to happen at every level of an organization, not just on a single team. Now it's up to leaders to harness the potential of their workforce and prepare employees for how they can play an active role in transformations across the business."The reset message here is that no function is exempt," Maggie Hulce, the chief revenue officer at Indeed, said. "Every function can change and should be changing and needs to take accountability and ownership for driving that, versus waiting for a central team to figure everything out."With evolving workplace priorities, the Workforce Innovation board also predicted which new roles might emerge in the C-suite, including "chief transformation officer" and "chief experience officer."The following has been edited for length and clarity.<hr />Julia Hood: What's the old way of C-suite leadership, and what's the new way? What is changing for those leading the workforce during this time of transformation?<h2 id="0c6ca21f-d8b4-40db-bb90-e9fb8d56ff2b">Alicia Pittman, chair of global people team, Boston Consulting Group</h2>One of the biggest differences we're seeing and we'll continue to see is that the concept of apprenticeship is becoming truly a two-way street. An old version of apprenticeship is learning the craft step-by-step — like the "Karate Kid" and Mr. Miyagi, based on wisdom and time.Now leaders are also seeing from younger generations how to embrace technology and AI, specifically, how to lead inclusive teams that maybe don't look so much like you, and how to support employees through mental-health challenges and general wellness.I'm seeing that happening in very powerful ways, truly two ways, and up and down. Organizations that embrace that — which are flatter, less formal, and allow for more of that cross-connectivity — are going to benefit as that becomes more the norm in how we craft leadership.<h2 id="f242fb98-9c94-4e5b-8135-1f191d2cb6f3">Neil Murray, CEO, Work Dynamics at JLL</h2>I like the idea that's been coined about leading from behind. The notion is that the old way was about leading leaders top-down, personally owning strategy, P&amp;L, innovation, and culture.Leading from behind has been likened to a shepherd coordinating from behind and creating an environment where people who are willing and able can take initiative and lead innovation. That company culture becomes owned collectively rather than the singular responsibility of the CEO.I don't think that's about a CEO stepping back and allowing mob rule, but rather, it's about harnessing collective genius in the organization.I think the reason for this is that the psychological contract between companies and employees has changed quite dramatically and continues to change. We know that people are looking for more meaning and purpose in their working lives. They expect to be seen. They expect to be valued for who they are and, ultimately, want to be part of and coauthor a company purpose and culture.It also applies to innovation. It's no longer about incremental innovation from a centralized chief product officer. Breakthrough innovation will be key, with consistent breakthrough innovation to sustain competitiveness. From a leadership perspective, that's about creating an environment where those closest to issues and most nimble can lean in and innovate, rather than trying to centralize it.<h2 id="d012677b-737d-445d-84a4-5d9f7a363a82">Kenon Chen, executive vice president of strategy and growth, Clear Capital</h2>When I first saw the GitHub Copilot demo before it was launched, I was struck by the idea of someone with a business use case and business knowledge being able to execute and create a technical solution without going through our typical translation layers, which are business analysts and scrum masters and technical project managers.We now have this huge layer of translators between the business, especially from the C-suite to the people who are creating the innovations or products.What gen AI is leading us to is a world in which we don't need so many translators because there are fewer hops from the idea to the value that we want to create to the execution. When you have all these translators, it's like the telephone game.As a leader, you need to be able to communicate much more precisely and clearly the outcome that you're trying to create in terms of value. You have to be your own translator, in a way, so that every stakeholder involved can take action on what's being communicated.<h2 id="df0e2c1a-ee63-46c5-b1e1-3cca22a63036">Anant Adya, executive vice president, service-offering head, and head of Americas delivery, Infosys</h2>At Infosys, one of the things we are focusing on is employee well-being. We want to be a hybrid work environment where we give flexibility to our employees to choose the way they want to work.There is obviously great value in coming to the office, collaborating with team members, and working to do innovative stuff. But this also ties back to DEI initiatives in the company. As we improve our gender diversity, especially as we go to the top, we want to make sure we give flexibility to our employees.Also very important is how we embrace innovation. We continuously upskill, retrain, and reskill our employees. How do we make sure that we embrace the culture of learning in the company? It's very critical that we have to constantly learn and upskill ourselves with all the new technologies that are coming and with all the new lingo that is being spoken. We don't want to get stuck in the old world of still talking old technology.Finally, we balance risk and focus from a long-term standpoint. Of course, everybody's focused on the quarter results and numbers, but we want to have a very long-term focus and plan at the same time.<h2 id="ef9e6c96-6d4a-4af5-a150-163cc530eada">Justina Nixon-Saintil, vice president and chief impact officer, IBM</h2>There is such a focus on employee voice across everything that we do. When you think about AI, we're asking employees, no matter where they are across the business, to come up with use cases and ways that AI can make a difference in their function.In the past, this would be the limit of just one entity, one function to come up with the right use cases. Maybe it was the software team, CIO team, or CTO.Now we're looking across the entire business and saying, "Come up with the right use cases that can help your function, your programs, your organization."Even in the area that I lead around corporate responsibility and ESG, we're deploying AI technology to create better learning pathways for our users or to look at ESG and data analytics. So this is an area we're leading within the organization and not necessarily waiting for another function to help us lead.<h2 id="b9d6a0b9-97d7-4bef-b44c-1a0b1ebba35e">Maggie Hulce, chief revenue officer, Indeed</h2>We are moving towards AI-enabled transformation being a companywide expectation, as opposed to just a few teams working on it and incubating it. That requires, as others have said, cross-team learning and development, and we are acknowledging we need both centrally driven, top-down things and a lot of bottom-up things.That's a parallel concept to DEI. We've gone through the transition of separate DEI organizations to having it be the expectation that equity is every leader's responsibility.Having a separate team that's supposed to make everybody behave with equity just doesn't work.With well-being, we've been on this track that, of course, physical and mental health, employee engagement, and employee voice are really important. Right now, there's more focus on training managers for the challenges of the multigenerational workforce and the mix of in person and remote.The speed of change is getting more and more rapid. How do we equip the managers up and down to help navigate this? And that's a big part of employee buy-in and navigating change. In the C-suite itself, you have more roles that have to think cross-functionally and be cross-functionally trained. Because as you think about how AI can change processes, it blurs and breaks old functional lines.That will make people uncomfortable. But if you let the functional lines be blockers, it will definitely slow you down. So our expectation is that we're going to see more and different types of roles that are enabling transformation.<h2 id="9b14003d-0c96-46b6-9c44-0515cc2393cf">Lucrecia Borgonovo, chief talent and organizational-effectiveness officer, Mastercard</h2>One of the biggest shifts is around decision-making — the move from siloed decision-making, where each member of the C-suite has a defined set of decisions they're accountable for, to a C-suite that acts more as a collective leadership body. It acts more cross-functionally, and there are more shared responsibilities and more joint decision-making that becomes part of the norm.There's much more fluidity and interdependency across different roles and functions. C-suite leaders are wearing multiple hats and creating roles that are much more versatile in nature.Tim Paradis: We've seen new C-suite roles emerge in recent years, like chief AI officer and chief ethics officer. The C-suite itself is getting larger in some cases. What new C-suite offices might emerge next?Nixon-Saintil: I'm seeing a lot of new roles, especially in corporate social responsibility and ESG. More "chief impact officers" are focused on social impact across the business. Those roles sometimes oversee environmental affairs and sustainability initiatives.The "chief sustainability officer" role has increased significantly over the last two years. Many large companies had them, but now smaller or midsize companies are adding that role to the C-suite, especially as they prepare for regulation around sustainability and all of the mandatory disclosure that is occurring."Chief ESG officer" is a new role that we are seeing as well, with a focus on ESG, regulation, controls, and accountability.Adya: The common thing that will happen across roles is the use of data and AI across every role.There are two roles that we are seeing in some of our bigger customers. One is chief experience officer, who is focused on what we call "human experience." It's not just about the experience of users but also of the stakeholders, business users, and customers of the enterprise.For example, if you go to a company and ask a finance person, "What does experience look like for you?" He or she will say that I would want to close my books on time. That's the experience. They don't care about whether they're using X, Y, or Z vendor. For them, closing the books on time is their experience. So this is about looking at the experience of the stakeholders, the users, and their customers.Then, while there is a "chief AI officer" role that's picking up, there is also a lot of focus on automation. How do we use automation in a business process? So the "chief automation officer," cutting across the enterprise, is looking at areas where we could potentially drive automation in a big way.Borgonovo: One that is on my mind is what you might call a "chief optimization officer," focused on how do you extract the most value across your products, your services, and all the different investments that you make, identifying items that aren't necessarily scaling.The other one that we have seen at Mastercard is the "chief risk officer," a new role created in response to the environment getting incredibly complex and the importance of embedding risk management into the organization.Roles like chief transformation officer will continue to be relevant. It all depends on the maturity of the different capabilities that you have in the organization.Pittman: I think that a lot of these roles — whether it's chief diversity officer, chief risk officer, chief digital officer — are really about building new competencies that are not widely spread. Where it's working best, you see companies standing up leadership for these capabilities and then pushing it down the line. It's got to be everybody's accountability.The number of companies naming chief transformation officers grew about 140% over the last couple of years. It's one of those roles where the impact is most measurable. You can see with a chief transformation officer, from the time they're appointed to the next two years, on average, that the company is going to improve its shareholder return performance versus its peers.That's pretty remarkable in terms of impact, so we'll keep seeing that. With the pace of change, the half-life of market leadership keeps getting shorter and shorter. We're going to see the role of the chief transformation officer being critical to enable C-suites to keep up with the pace of change and drive cross-functional initiatives.Hulce: I was just pitching this idea of a transformation leader, not necessarily reporting to the CEO but one across internal functions to help drive the next 18 months given how fast we intend to stand up totally different ways of working.When we think about transformation for external products versus transformation for internal processes, it is a bit different. So when we think about the work we're trying to do for external products, making sure the scope is clear — those are long-standing, typical questions for how you stay competitive and innovate.But rapid cross-functional, internal transformation is different. Can you make a successful role to drive a complete rethink of process and workflow across many functions with technology and AI being a critical enabler?In the past, it wasn't as important to do cross-functionally as it is now, with what gen AI can do. It's a big opportunity to radically rethink how this work gets done.Murray: Business-unit leaders now have an explicit responsibility to look at everything within their business line and think about on a 2-by-2 matrix the feasibility versus the impact of transforming end-to-end process.Chen: I do like this idea of a chief transformation officer, but the risk there is if every leader isn't equipped with thinking about how to proactively get value from tools that are around the organization and the data that is available. Everyone is going to have to be reskilled to learn how to do that, with AI as one of the new accelerator tools.<meta content="cms.next" name="cmsei" />