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<ul><li><keyword id="1377264" type="General" weightage="20" keywordseo="apple-ceo-tim-cook" source="Orion">Apple CEO Tim Cook</keyword> revealed a personal detail in an interview</li><li>He has a name for his group chat with college friends</li><li>Cook also admitted he didn't know about the feature in the interview</li></ul> From waking up at 4:00 am to check emails to working out before sunrise, there are plenty aspects of <keyword id="145686" type="General" weightage="20" keywordseo="apple-ceo" source="Orion">Apple CEO</keyword> <keyword id="19954680" type="General" weightage="100" keywordseo="Tim-Cook" source="keywords">Tim Cook</keyword>'s life that we have all read about. Cook is behind one of the most influential tech companies in the world which is why people are generally curious to know more and more about him. In a recent interview with the Wall Street Journal Magazine, Cook gave a rare glimpse into his personal life by sharing the name of his group chat with college friends. In a candid moment during an interview, Cook revealed that the chat is called “Roommates,” a nod to the close bond he still shares with his university friends after all these years. <h2>Tim Cook names his group chat with friends</h2>Even though Cook revealed the name of the group chat to the interviewer, he had earlier mentioned that he wasn't aware of the feature that you can name group chats in iMessage. <div type="Article" hostid="261" msid="113599807" title="Elon Musk to Tim Cook: A morning in the lives of big tech CEOs" mstype="2" mssubtype="0"></div> Cook was asked, “What’s the best name for a group chat?”—a question that clearly caught him off guard. He admitted, with some bewilderment, “I don’t name them,” showing genuine surprise at the concept. The light-hearted exchange offered a rare look at the disconnect that sometimes exists between tech leaders and the finer points of everyday user experience. However, when Cook met the interviewer the next time, he revealed that he named a group chat with his college friends “Roommates.” <h2>Love for <keyword id="19894961" type="General" weightage="20" keywordseo="Apple" source="keywords" meta.keywordsubtype="org" meta.entityname="Apple" meta.hostid="261" meta.entityid="Apple">Apple</keyword> and company's success mantra </h2> The interview also revealed that Cook, as you would expect, frequently switches between his MacBook Air, MacBook Pro, and iMac at work, depending on his task. Moreover, he prefers his iPad Pro while on the move. Cook’s relationship with the devices he oversees isn’t just professional—it’s personal, reinforcing his deep commitment to the brand. Cook also shared that the key to the company’s success lies in one word: focus. “The key for us is focus,” he explained, adding that saying no to good ideas is sometimes necessary to make room for great ones. It’s a mantra that has helped keep Apple at the cutting edge of innovation, making tough decisions to stay ahead in the fast-evolving tech world.

This is what Apple CEO Tim Cook named his group chat with college friends

Apple is unlikely to enter the <keyword id="20596744" type="General" weightage="20" keywordseo="smart-ring" source="keywords">smart ring</keyword> market, despite Samsung’s recent foray and growing consumer interest. <keyword id="23971762" type="General" weightage="20" keywordseo="Oura-CEO" source="keywords">Oura CEO</keyword> Tom Hale, speaking at Lisbon’s Web Summit as per a CNBC report, shared his view that Apple remains focused on the <keyword id="19904852" type="General" weightage="100" keywordseo="Apple-Watch" source="keywords">Apple Watch</keyword> as its core wearable device and is “unconvinced” of a smart ring’s value alongside it. With Apple prioritising <keyword id="23971765" type="General" weightage="20" keywordseo="health-tech-advancements" source="keywords">health tech advancements</keyword> through its watch, Hale believes the tech giant may view a smart ring as conflicting with its established wearables strategy. Oura, a pioneer in smart rings since 2013, recently launched its latest <keyword id="23416399" type="General" weightage="20" keywordseo="Oura-Ring-4" source="keywords">Oura Ring 4</keyword>, a device designed for <keyword id="23971763" type="General" weightage="20" keywordseo="continuous-health-tracking" source="keywords">continuous health tracking</keyword>. These rings are compact, packed with sensors, and popular for their all-day comfort and lengthy battery life, especially during sleep. The smart ring’s rising popularity underscores a shift in user preference toward lightweight, dedicated <keyword id="23971764" type="General" weightage="20" keywordseo="health-monitoring-wearables" source="keywords">health-monitoring wearables</keyword>, offering comfort and continuous use—features not always feasible with smartwatches. While smart rings and smartwatches serve similar health-monitoring functions, Hale emphasised that Apple has its sights set firmly on refining and expanding its watch’s capabilities, rather than adding a ring to its lineup. He pointed to Apple’s deliberate strategy to maintain the Apple Watch as its primary platform in health-tech wearables, showcasing Apple’s preference for depth within one category over product diversification. Samsung’s recent entry has shone a spotlight on the potential of rings to rival smartwatches in the wearable health market. Industry analysts speculate that Apple’s watch-centric approach might shift if rings continue gaining traction. However, for now, the company is monitoring competitors without immediate plans to launch a ring, as suggested by Hale. Oura’s recent product update intensifies competition within the wearable sector, making smart rings an appealing option for health-conscious users who prioritise both functionality and comfort. Whether or not Apple chooses to follow suit in the future, smart rings are carving out a promising niche, offering users a streamlined approach to health tracking while steering the wearable tech sector into new territory.

Apple unlikely to enter smart ring market as focus stays on Apple Watch, says Oura CEO

<ul class="summary-list"><li>Trump has said he plans to bring down gas prices by boosting US oil production.</li><li>ExxonMobil CEO Darren Woods doesn't see a US oil boom in the near future.</li></ul>President-elect Donald Trump's promise to unleash a <a target="_blank" class="" href="https://www.businessinsider.com/cost-expensive-goods-price-impact-presidential-election-scenarios-trump-harris-2024-10">big oil boom</a> in the US and lower gas prices is running up against a market reality: The world is already awash in fossil fuels. ExxonMobil CEO Darren Woods told <a target="_blank" class="" href="https://www.semafor.com/article/11/12/2024/exxon-ceo-darren-woods-donald-trump-shouldnt-scrap-methane-regulations">Semafor</a> on November 12 that while he wants to maintain US oil production at its current highs, the market is already well supplied. "I don't think today that production in the US is constrained," he said. "I don't know that there's an opportunity to unleash a lot of production in the near term." During the presidential campaign, Trump said that he planned to lower energy prices — including the <a target="_blank" class="" href="https://www.nytimes.com/2024/09/10/us/politics/trump-economics-gas-tariffs-inflation.html">cost of gas</a> — by increasing US oil production. "We will frack, frack, frack and drill, baby, drill," Trump <a target="_blank" class="" href="https://www.factcheck.org/2024/10/the-issues-trumps-proposal-to-lower-prices-by-increasing-energy-production/">said</a> in October. "I will cut your energy prices in half within 12 months." In September, Trump <a target="_blank" class="" href="https://www.nytimes.com/2024/09/10/us/politics/trump-economics-gas-tariffs-inflation.html">said</a> he would reduce gas prices to below $2 a gallon. Energy analysts told Business Insider that big oil companies are more focused on returning money to shareholders than investing in projects that boost production, especially because China isn't importing as much oil due to its economic downturn. Their comments underscore how little control a US president has over the oil and gas market, including prices at the pump. "It's a global market," Ben Cahill, director of energy markets and policy at the University of Texas at Austin, told BI. "There's very little any president can do to change the direction of oil or gasoline prices." Cahill added that he expects the US to increase oil production, but it will happen gradually. The US is already producing record amounts of oil, at <a target="_blank" href="https://www.eia.gov/todayinenergy/detail.php?id=61545">12.9 million barrels of crude a day in 2023</a> compared with about 11 million barrels per day in 2020, when Trump was in office. Last year, the US also became the world's biggest exporter of natural gas. In October, the US Energy Information Administration <a target="_blank" href="https://www.enerdata.net/publications/daily-energy-news/us-eia-expects-domestic-crude-oil-production-reach-135-mbd-2025.html#:~:text=At%20a%20global%20scale%2C%20the,13.5%20mb%2Fd%20in%202025.">projected</a> that the US would produce 13.5million barrels a day in 2025, hitting another record. And there is room for the industry to expand. Woods <a target="_blank" href="https://www.cnbc.com/2024/11/01/exxon-ceo-says-us-election-wont-affect-oil-production.html">told</a> CNBC earlier this month that there are areas in the Gulf of Mexico — where federal leasing hasn't allowed companies to drill — that could be a source of additional oil production in the long term. Patrick De Haan, head of petroleum analysis at GasBuddy, told BI that Trump could take some steps to try to boost US oil production, including easing regulations to open up additional places for companies to drill and working with OPEC. However, he said boosting oil production while keeping prices at a desired level is a "delicate balance" for the industry. "If oil prices drop, you're likely to see a natural decline in US oil production over the long run," he said, adding, "Oil companies have shareholders to be accountable to." In recent years, the US has increased oil production even as President Joe Biden imposed stricter limits on greenhouse gas emissions from power plants, oil and gas infrastructure, and gas-powered vehicles to help slow the climate crisis. In a separate interview with <a target="_blank" class="" href="https://www.wsj.com/business/energy-oil/exxon-says-trump-should-keep-u-s-in-paris-climate-pact-3d8de471">The Wall Street Journal</a>, Woods added that the US shouldn't drop out of the Paris Agreement as Trump did in his first term and has promised to do again. The nearly 200 countries signed onto that agreement <a target="_blank" class="" href="https://www.businessinsider.com/countries-strike-historic-climate-dealfossil-fuels-dubai-2023-12">struck a deal last year at the UN climate summit </a>to move away from fossil fuels this decade and the triple renewable energy by 2030. Woods told Semafor that he supports Biden's limits on methane emissions from the oil and gas sector. Exxon and other US oil majors have goals to reduce emissions, but climate scientists warn<a target="_blank" class="" href="https://www.businessinsider.com/exxon-chevron-investors-reject-climate-change-proposals-2023-6">they aren't aggressive enough</a> to avert catastrophic levels of global warming.

Trump said he'll unleash an oil boom. Exxon Mobil CEO says not so fast.

<keyword id="20775094" type="General" weightage="20" keywordseo="Apple-CEO" source="keywords">Apple CEO</keyword> <keyword id="19954680" type="General" weightage="20" keywordseo="Tim-Cook" source="keywords">Tim Cook</keyword>, Tesla and SpaceX owner <keyword id="19903807" type="General" weightage="100" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword>, Google boss <keyword id="19954681" type="General" weightage="20" keywordseo="Sundar-Pichai" source="keywords">Sundar Pichai</keyword>, Meta CEO <keyword id="19952202" type="General" weightage="20" keywordseo="Mark-Zuckerberg" source="keywords">Mark Zuckerberg</keyword> and <keyword id="19985874" type="General" weightage="20" keywordseo="Microsoft-CEO" source="keywords">Microsoft CEO</keyword> <keyword id="20054589" type="General" weightage="20" keywordseo="Satya-Nadella" source="keywords">Satya Nadella</keyword> are some of the most powerful people in the world. Due to their huge empires, the tech experts are often in the limelight. People are generally curious to know all about them. But do you know how they begin every morning? Is there a secret sauce to running such huge companies or do they too, like regular people, get up, grab some coffee, and head straight to work? Let us take a closer look in the lives of these big <keyword id="19954679" type="General" weightage="20" keywordseo="Tech-CEOs" source="keywords">tech CEOs</keyword> and find out how they start their day. <h2>Elon Musk</h2>Elon Musk, CEO of SpaceX and Tesla, is known for his intense work ethic, and his mornings reflect that. Musk wakes up at around 9:00 AM, having slept for about six hours. For him, this is the optimal amount of rest to keep his energy levels high throughout the day. He believes in efficiency, so his <keyword id="20563991" type="General" weightage="20" keywordseo="morning-routine" source="keywords">morning routine</keyword> is kept short and focused. In an interview with The Wall Street Journal in 2023, Elon Musk mentioned that he typically goes to bed around 3 a.m. and gets about six hours of sleep. This means he usually starts his day at around 9 a.m. There was also a humorous moment when Musk responded to a doctor on X (formerly Twitter), claiming he eats a donut every morning. While this may have been said in jest, Musk has expressed his fondness for the sweet treat on several occasions. In a playful post from October of the same year, he joked about moderation, saying, “I only eat 0.4 donuts at a time, because my brain neural network rounds it down to zero.” Like many people, Musk begins his mornings with his phone in hand. In 2022, during a conversation on the Full Send Podcast, Musk admitted that checking his phone right after waking up was a habit he was trying to break. He called it "a terrible habit" but noted that he often checks for urgent matters as soon as he wakes up. Despite his efforts to change, it seems Musk is still tied to this routine. According to the Wall Street Journal, he starts most mornings by scanning his phone for updates or potential emergencies. His frequent posts on X suggest he remains deeply engaged with the platform, a habit that’s persisted even after his acquisition of the company in 2022. Reflecting on this in his biography penned by Walter Isaacson, Musk had also remarked with his typical humour, "Some days I wake up and check Twitter just to see if it’s still working." <h2>Sundar Pichai</h2>Sundar Pichai, CEO of Google and Alphabet, prefers a calm, more thoughtful morning. Pichai wakes up between 6:30 and 7:00 AM and begins his day with a mindful cup of tea. He’s not much of a coffee drinker, and he enjoys a peaceful start by reading the newspaper, usually The Wall Street Journal or The New York Times. He had revealed the same in an interview with Recode in 2016. He had also revealed how breakfast is a must for him, and it’s often simple—usually involving an egg or two and toast. He values a calm mind in the morning, so he avoids jumping straight into work. Instead, he takes a few moments to reflect on the day ahead. More recently, in an interview with Wired earlier this year, Pichai had revealed that he loves to reach Techmeme in the morning. For the unversed, Techmeme is a tech news aggregator that displays industry news in a single place. <h2>Satya Nadella</h2>Microsoft's CEO, Satya Nadella seems to believe that a strong body fuels a strong mind. In the Hello Monday podcast with Jessi Hempel in 2019, Nadella had revealed that he wakes up early—around 5:30 AM—and immediately starts his day with exercise. Whether it’s running, lifting weights, or simply walking, Nadella makes sure his mornings involve physical activity. He believes that staying physically fit is essential to staying mentally sharp. "For me, the daily ritual is just a half-hour of hitting the gym every day. It doesn't matter where I am, what time zone, how late I got in, I get up and get to the gym. It's just, 30 minutes of running, and it just makes a huge difference" he had said. After his workout, Nadella takes time for personal reflection. He’s known for reading a lot, whether it’s books on leadership or the latest tech advancements. This quiet time helps him set the tone for the day, which is filled with leading Microsoft through the world of cloud computing, AI, and other cutting-edge technologies. After breakfast with his family, Nadella is ready to face the challenges of the day with a clear mind and a positive attitude. <h2>Tim Cook</h2>Tim Cook, Apple’s CEO, is famously an early riser. He wakes up at 3:45 AM—yes, even before the birds are up—and immediately checks his emails. For Cook, the early hours are the perfect time to catch up on work without distractions. He spends an hour responding to emails from employees and important business partners, ensuring that by the time most people are awake, he’s already ahead. In a post on X in March 2015, Cook had written how he got some "extra rest" for an event and slept in till 4:30 am. Now, the definition of "sleeping in" could vary person to person. But it is quite rare to be at the crack of dawn. Cook had earlier explained his early routine as a way to take control of his day. As he told The Australian Financial Review in 2021, “I can control the morning better than the evening. The morning is yours. Or should I say, the early morning is yours.” Around 5 a.m., Cook makes time for his fitness routine. Describing himself as a fitness enthusiast, Cook prefers working out at a gym off Apple's campus to avoid running into colleagues. After reading some of his emails, at around 5 am, Cook hits the gym for an intense workout. He believes staying physically fit is key to staying at the top of his game. In a 2018 interview with Axios, he had shared that his workout routine helps manage his stress. After an hour of exercise, he heads to Starbucks, where he reads through more emails before starting his workday at Apple’s headquarters. <h2>Mark Zuckerberg</h2>While most of us scroll through Instagram, WhatsApp or Facebook in the morning, what does the owner of these two social media platform do? Well, as per reports, Zuckerberg also follows the same. He wakes up at around 8 am and checks Facebook, WhatsApp, and Instagram. For him, staying connected to what’s happening in the world is essential. In a Facebook Live Q&amp;A, Zuckerberg had admitted that the first thing he does upon waking is to scroll through Facebook to see what’s happening in the world. “It’s a pretty sad situation, to be honest,” he had joked and added that he often checks his phone even before putting in his contacts, squinting at the screen to catch up on the latest updates. While this has become a habit, he acknowledged that it's not the healthiest way to start the day. Also, in a conversation with Joe Rogan, Zuckerberg admitted that checking his phone first thing in the morning can be overwhelming. "You get like a million messages of stuff that comes in, and it’s usually not good. People reserve the good stuff to tell me in person. It’s almost like you wake up and get punched in the stomach. So I have to reset myself to be productive and not get stressed,” he had said. After catching up on his morning updates, Zuckerberg moves on to working out. In the past, he was an avid runner, hitting the pavement at least three times a week. However, he has since shifted his focus from running to more intense forms of exercise like jiu-jitsu and mixed martial arts (MMA). Zuckerberg is now committed to MMA and jiu-jitsu, doing three or four sessions each week, supplemented by strength training and mobility exercises. In June this year, he had shared on Lex Fridman’s podcast that this rigorous routine helps him stay sharp and grounded, keeping both his body and mind engaged.

Elon Musk to Tim Cook: A morning in the lives of big tech CEOs

As the United States heads into a decisive phase in its presidential election, <keyword id="19954681" type="General" weightage="20" keywordseo="Sundar-Pichai" source="keywords">Sundar Pichai</keyword>, CEO of Alphabet and <keyword id="19902762" type="General" weightage="100" keywordseo="google" source="keywords">Google</keyword>, has called on employees to ensure the company maintains its reputation as a reliable information provider. In an internal memo, as per an IANS report, <keyword id="20234972" type="General" weightage="20" keywordseo="pichai" source="keywords">Pichai</keyword> underscored Google’s critical role during this period, saying it is essential for “the products they build” to be a trusted source for people of all backgrounds. "Let’s remember the role we play at work, through the products we build and as a business: to be a trusted source of information to people of every background and belief," he said in the memo. The <keyword id="20239922" type="General" weightage="20" keywordseo="Google-CEO" source="keywords">Google CEO</keyword> also reportedly reminded employees to adhere strictly to Google’s Community Guidelines and Personal Political Activity Policy. Pichai stressed that safeguarding the integrity of the platform is of utmost importance, especially during such a significant event. “We must maintain that trust,” he wrote, saying that it is part of Google’s broader mission to make information accessible and useful. “We will and must maintain that. In that spirit, it’s important that everyone continue to follow our Community Guidelines and Personal Political Activity Policy,” he wrote in the internal memo as reported by IANS. Highlighting the teams’ ongoing efforts, Pichai mentioned that staff across Google and YouTube have been working diligently to provide accurate and reliable information to voters. This commitment is consistent with Google’s approach during elections around the world. In 2024 alone, the tech giant supported major elections in countries like France, India, and the UK, benefiting over a billion voters. Pichai also noted that the outcome of the U.S. election would have far-reaching implications, influencing discussions in homes across the globe. However, he reassured employees that regardless of the result, Google’s mission to organise global information and make it widely accessible would remain steadfast. He highlighted how artificial intelligence continues to play a significant role in driving this mission, contributing to innovation and economic growth. The tech leader’s remarks came in the context of growing scrutiny on how digital platforms manage information during elections. <keyword id="19933162" type="General" weightage="20" keywordseo="Misinformation" source="keywords">Misinformation</keyword> remains a major concern, and tech companies face increased pressure to act responsibly. To address this, Pichai reminded employees of their shared responsibility to uphold the company’s standards. In a related move, Meta, formerly Facebook, extended its ban on new political ads beyond the original November 5 end date, aiming to mitigate potential misinformation and maintain a secure online environment during and after the election period.

Google CEO Sundar Pichai asks team to safeguard trust during US elections, sends internal memo

<ul class="summary-list"><li><keyword id="23774633" type="General" weightage="100" keywordseo="Jane-Lauder" source="keywords">Jane Lauder</keyword>, beauty magnate <keyword id="21856043" type="General" weightage="20" keywordseo="Este-Lauder" source="keywords" meta.keywordsubtype="org" meta.entityname="Estée Lauder" meta.hostid="261" meta.entityid="Estée Lauder">Estée Lauder</keyword>'s granddaughter, is leaving the family-run company.</li><li>Her departure comes after Estée Lauder announced its CEO, <keyword id="23726861" type="General" weightage="20" keywordseo="Fabrizio-Freda" source="keywords">Fabrizio Freda</keyword>, is stepping down.</li></ul>Jane Lauder, whose grandmother founded Estée Lauder and who was seen as a contender to become its next CEO, is set to depart the company. Lauder joined the family-run company in 1996 and was named its first executive vice president of enterprise marketing and chief data officer in 2020, according to a press release. Before that, she worked in senior leadership positions for brands including Clinique, Origins, and Darphin, which are all owned by Estée Lauder. The fashion trade outlet WWD first reported the news. Estée Lauder confirmed the story but said it would not be issuing a statement. Her departure comes amid a <keyword id="21737281" type="General" weightage="20" keywordseo="leadership-shake-up" source="keywords">leadership shake-up</keyword> for Estée Lauder Companies Inc., which announced in August that longtime CEO <a target="_blank" class="" href="https://www.businessinsider.com/how-deciem-and-the-ordinary-fit-into-estee-lauders-growth-2021-2">Fabrizio Freda</a> would retire at the end of the 2025 financial year. <div type="image" title="Fabrizio Freda attends the Balmain Womenswear Spring-Summer 2025 show as part of Paris Fashion Week on September 25, 2024." height="960" width="1280" msid="114697538" hostid="261"></div>The announcement of Freda's departure came as Estée Lauder reported a 2% decrease in organic sales for the year to June, citing "ongoing softness in <a target="_blank" href="https://www.businessinsider.com/whats-behind-china-luxury-goods-slowdown-economy-changing-consumer-tastes-2024-10">China</a>" as a key reason. In the earnings release, Freda also called the sales and profit outlook for the current financial year "disappointing." At the time of his retirement announcement, Estée Lauder said it was "well advanced in its long-established <keyword id="23217871" type="General" weightage="20" keywordseo="CEO-succession" source="keywords">CEO succession</keyword> planning process" and that the board was considering both internal and external candidates. In an internal memo, Lauder said she plans to remain a board member and shareholder, WWD reported. "The company is embarking on a necessary and fundamental turnaround," Lauder said, per WWD. "I have thought about how I can be most effective in helping the company reclaim its rightful position as the world's leader in prestige beauty and restore long term shareholder value." Lauder also said in the memo that she will remain an advisor to the CEO in the coming months. <div type="image" title="Aerin Lauder, William Lauder, and Jane Lauder at the Breast Cancer Research Foundation Hot Pink Party at The Glasshouse in New York City in May 2024." height="853" width="1280" msid="114697536" hostid="261"></div>Lauder isn't the only family member to have had leadership stints at her grandmother's company. Her cousin, William Lauder, stepped down as CEO in 2009 to serve as Estée Lauder's executive chairman. Her sister, Aerin Lauder Zinterhofer, also spent decades working at the company before launching her eponymous luxury lifestyle brand Aerin, which is part of Estée Lauder's portfolio. After nearly three decades, Lauder will soon no longer be involved in day-to-day operations at Estée Lauder, but her family still owns a 38% share of the company and controls most of the voting rights. Correction: October 28, 2024 — An earlier version of this story mischaracterized Estée Lauder's response to a request for comment from Business Insider. It has been updated.

Jane Lauder is departing Estée Lauder, taking her out of the race to lead the company her grandmother founded 

<ul><li><keyword id="19912297" type="General" weightage="20" keywordseo="NVIDIA" source="keywords" meta.keywordsubtype="org" meta.entityname="NVIDIA" meta.hostid="261" meta.entityid="NVIDIA">NVIDIA</keyword> and <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword> have partnered to build AI computing infrastructure.</li><li>NVIDIA will also supply the latest Blackwell AI chip for Reliance Industries’ new data centre.</li><li>The partnership was announced at the NVIDIA AI Summit India.</li></ul> <keyword id="16173150" type="General" weightage="20" keywordseo="NVIDIA-CEO-Jensen-Huang" source="Orion">NVIDIA CEO Jensen Huang</keyword> at the NVIDIA AI Summit India announced a partnership with Mukesh Ambani-led Reliance Industries to an artificial intelligence (AI) computing infrastructure and an innovation centre in India. As part of the partnership between the two companies, Reliance Industries will use the latest Nvidia Blackwell AI chip for its new major data centre. The company will use NVIDIA's cutting-edge technology, including the GB200 GPUs. The two companies are aiming to accelerate India's transformation into a global AI powerhouse with the partnership, banking on the nation's talent pool and growing digital infrastructure. "India is already world-class in designing chips, Nvidia's are designed here in Bengaluru, Hyderabad, Pune. A third of Nvidia is Indian, maybe more," Huang said. While praising the country’s rapid digitalisation in recent years and talking about the country’s potential in the AI sector, Huang said, “Very few countries have this amazing natural resource called IT and computer science expertise.” "We are at the doorsteps of the new intelligence age. India will be one of the biggest intelligence markets. It's not just our aspiration, but also the raw gene power which will help drive intelligence,” said Reliance Industries chairman <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>. "India will not just deliver CEOs to world, but also AI services. Like we did with data, in few years from now we can surprise the world with what Indians can achieve in intelligence," Ambani added. Ambani revealed the company’s plans to establish a scalable infrastructure capable of expanding beyond 1 gigawatt, powered by green energy. "We are building this so we can scale, and we think big," he said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/deepak-builders-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114533208.cms">Deepak Builders IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/news/synology-introduces-new-enterprise-solutions-reports-significant-growth-in-india/articleshow/114504353.cms">Synology introduces new enterprise solutions, reports significant growth in India</a> <a href="https://www.businessinsider.in/tech/apps/news/diwali-gift-zomato-platform-fee-increased-to-rs-10-ahead-of-the-festive-season/articleshow/114493617.cms">Diwali gift from Zomato – Platform fee increased to ₹10 ahead of the festive season</a>

NVIDIA and Reliance Industries to build AI computing infrastructure in India

<ul class="summary-list"><li>The FBI conducted a raid at Polymarket CEO Shayne Coplan's home on Wednesday morning, a spokesperson confirmed to BI.</li><li>The 26-year-old CEO's devices were confiscated, according to multiple reports.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/polymarket-election-predictions-trump-harris-pop-culture-bets-2024-10">Polymarket</a> CEO Shayne Coplan was the subject of an FBI raid Wednesday morning, a company spokesperson confirmed to Business Insider.The spokesperson did not provide details and a spokesperson for the FBI declined to comment. Coplan's phone and electronic devices were confiscated, according to several reports.The raid was tied to a US Justice Department investigation into the company and whether it accepted trades from users in the US, a person familiar with the matter told <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-11-13/polymarket-investigated-by-doj-for-letting-us-users-bet-on-platform?sref=yaJhKSOh">Bloomberg</a>. Polymarket is currently unavailable to customers in the US, but some traders have found workarounds through <a target="_blank" rel="noopener noreferrer" class="c-link c-link--focus-visible c-link--underline" href="https://www.bloomberg.com/news/articles/2024-10-22/polymarket-cracks-down-on-us-bettors-ahead-of-presidential-election?srnd=homepage-americas&amp;embedded-checkout=true">VPNs</a>.The platform is already under legal scrutiny by <a target="_blank" rel="noopener noreferrer" class="c-link c-link--focus-visible c-link--underline" href="https://www.businessinsider.com/polymarket-regulators-france-us-election-betting-whale-crypto-donal-trump-2024-11">French gambling regulators</a> to ensure that the site is complying with domestic laws.Soon after the raid, the 26-year-old CEO posted on X: "new phone, who dis?"Polymarket is an online prediction markets platform that received hype earlier this year as it showed traders highly bullish on a second Trump administration while polls continued to show a tight race.Donald Trump's electoral victory on November 5 appeared to give further credence to the idea that <a target="_blank" class="" href="https://www.businessinsider.com/betting-markets-polls-trump-election-win-polymarket-kalshi-2024-11">betting markets</a> could be a more accurate barometer for election outcomes than traditional polls. According to a research by Chainalysis, one trader was estimated to rake in more than <a target="_blank" class="" href="https://www.businessinsider.com/polymarket-whale-banked-85-million-profit-trump-president-election-win-2024-11">$85 million</a> with Trump's win."On Polymarket it looked like a done deal, and if you were just watching TV, you would think it's neck and neck," Coplan said on CNBC's Squawk Box.The Polymarket spokesperson said the incident was an act of "political retribution" by the Biden administration."Polymarket is a fully transparent prediction market that helps everyday people better understand the events that matter most to them, including elections," the spokesperson said. "We charge no fees, take no trading positions, and allow observers from around the world to analyze all market data as a public good. We look forward to standing up for ourselves and our community and continuing to help everyday people understand important world events."Coplan also posted on X Wednesday evening that it was "discouraging that the current administration would seek a last-ditch effort to go after companies they deem to be associated with political opponents."A Biden administration spokesperson did not respond to a request for comment.

Polymarket's CEO Shayne Coplan responds after FBI raid

<ul class="summary-list"><li>China has the world's biggest EV market.</li><li>But Xpeng's CEO, He Xiaopeng, says most Chinese carmakers will not exist in 10 years.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/xpeng-land-aircraft-carrier-flying-electric-vehicle-china-2024-11">Xpeng</a> CEO He Xiaopeng doesn't think most Chinese carmakers will survive the next decade."From 300 start-ups, only 100 of them survived. Today, there are fewer than 50 companies that still exist, and only 40 of them are actually selling cars every year," He told Singaporean newspaper <a target="_blank" class="" href="https://www.straitstimes.com/singapore/transport/only-a-small-number-of-chinese-carmakers-will-survive-in-next-decade-xpeng-chief">The Straits Times</a> in an interview published on Monday."I personally think that there will only be seven major car companies that will exist in the coming 10 years," the Xpeng founder-CEO added. He did not specify who he thought the seven survivors would be.Representatives for He at Xpeng did not respond to a request for comment from Business Insider.This isn't the first time He has predicted brutal, self-eliminating competition among Chinese automakers.In March, He told Singaporean broadcaster <a target="_blank" class="" href="https://www.channelnewsasia.com/asia/china-xpeng-tesla-byd-electric-vehicle-ev-price-war-global-expansion-he-xiaopeng-4213961">CNA</a> that in the next three to four years, the Chinese EV industry will see a "knockout tournament," followed by intense competition between "all-star" players.Who prevails in 2030 will depend on the "abilities" and "feasibility" of these players, He said."The car industry is a marathon, it is not like a sprint," He told CNA.Mercedes-Benz CEO <a target="_blank" class="" href="https://www.businessinsider.com/western-auto-chiefs-industry-locked-in-darwinian-battle-with-china-2024-10">Ola Källenius</a> took a similar position to He when asked about the threat posed by Chinese EV makers at the Berlin Global Dialogue conference in October."It's strange. It's a Darwinistic-like price war, market purification. And many of those players that are around now. Many of those are not going to be around five years from now," Källenius said.<h2 id="c96ad57d-e206-4d45-9d08-b3fb7b6e15c8">Chinese EV dominance</h2><div type="image" title="An XPeng P7 electric vehicle on display at the 18th Guangzhou International Automobile Exhibition at China Import and Export Fair Complex." height="4912" width="7360" msid="115441379" hostid="261" sizebytes="1384466"></div>China's EV dominance stems partly from the <a target="_blank" class="" href="https://www.businessinsider.com/china-xi-jinping-crush-tesla-elon-musk-american-ev-industry-2024-2">generous subsidies</a> the country's government has given car companies to lower costs and encourage EV ownership.But the competition within China — the <a target="_blank" class="" href="https://www.businessinsider.com/china-electric-vehicles-government-subsidies-win-ev-race-byd-tesla-2024-6">world's biggest EV market</a> —has become <a target="_blank" class="" href="https://www.businessinsider.com/china-tesla-electric-vehicle-market-dominance-competition-byd-aion-wuling-2024-4">increasingly stiff</a>.Stephen Dyer, an auto consultant at AlixPartners, told <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.wsj.com/business/autos/why-china-keeps-making-more-cars-than-it-needs-4b8bf4cc?mod=latest_headlines">The Wall Street Journal</a> in April that in 2023, a total of 123 brands made sales of at least one EV on the Chinese mainland.Chinese carmakers like <a target="_blank" class="" href="https://www.businessinsider.com/byd-founder-wang-chuanfu-biggest-chinese-global-ev-automaker-2024-1">BYD</a> have also attempted to conquer the global electric vehicle market.According to <a target="_blank" class="" href="https://www.businessinsider.com/byd-saic-chinese-ev-makers-plot-world-takeover-2024-6">data compiled by the technology firm ABI Research</a> for BI, Chinese carmakers accounted for 70% of the EV market in Thailand and 88% in Brazil in the first quarter of this year.In its third-quarter earnings announcement last month, BYD said it <a target="_blank" class="" href="https://www.businessinsider.com/why-byd-is-beating-tesla-ev-rivals-china-2024-11">surpassed Tesla's revenues from EV sales</a> for the first time.Prices of Xpeng's US-listed American depositary receipts are down nearly 11% year to date. The company has not recorded a profit since it was founded in 2014.Xpeng's vice-chairman and president, Brian Gu, said in March that the company is on track to "<a target="_blank" class="" href="https://www.cnbc.com/video/2024/03/20/xpeng-were-still-aiming-to-achieve-profitability-in-2025.html">achieve profitability at some point in 2025.</a>"Xpeng is scheduled to announce its third-quarter earnings on Tuesday.

Xpeng's CEO says most Chinese carmakers will not survive the next decade

<ul class="summary-list"><li><keyword id="19947945" type="General" weightage="20" keywordseo="JPMorgan-Chase" source="keywords" meta.keywordsubtype="org" meta.entityname="JPMorgan Chase" meta.hostid="261" meta.entityid="JPMorgan Chase">JPMorgan Chase</keyword>'s <keyword id="19940300" type="General" weightage="20" keywordseo="CEO" source="keywords">CEO</keyword> said Friday that he doesn't plan to join the next <keyword id="23582911" type="General" weightage="20" keywordseo="presidential-administration" source="keywords">presidential administration</keyword>.</li><li><keyword id="20214240" type="General" weightage="20" keywordseo="Jamie-Dimon" source="keywords">Jamie Dimon</keyword> said he expects to stay at JPMorgan "for a long period" rather than join the government.</li></ul>Jamie Dimon on Friday shed new light on how long he might remain in <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-jp-morgan-ceo-first-republic-bank-rescue-2023-3">the top job at JPMorgan Chase</a>, suggesting he would likely reject an opportunity to join a presidential administration and that he intends to stick with America's biggest bank "for a long period of time." "I think the chance of that is almost nil, and probably I'm not going to do it," Dimon said in response to a question from a Wells Fargo stock analyst about whether he'd say yes <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-denies-donald-trump-claim-endorse-2024-10">if offered a job</a> with the next US president. "I intend to be doing what I'm doing — I almost guarantee I'll be doing this — for a long period of time, or at least until the board kicks me out," he said. In May, Dimon made headlines when he said <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-career">his time as JPMorgan's CEO</a> was coming to a close. "The timetable is not five years anymore," he told investors, a reference to a running joke about how every other time he was asked how long he might remain at the helm, he often said five years. So what gives? Is Dimon staying or going? The statements are not necessarily contradictory. One way he could stay on is as the bank's chairman of the board, a role he holds now in addition to CEO. (The firm has previously said it intends to separate the CEO and chairman roles after Dimon steps down.) Chairmen oversee companies' boards of directors, giving them an important platform from which to steer the organization and ensure that it's serving shareholders. But the chairman isn't the chief executive, meaning that he would be removed from running the company day-to-day and making most operational decisions. Indeed, when the question was put to a JPMorgan spokesperson, we got this response: "His timeline has not changed since his Investor Day comments, and ultimately it's up the board," the spokesperson said, adding: "We have said he could become Chairman after stepping down as CEO." Other bank CEOs who have extended their relationships with firms through chairman roles include Lloyd Blankfein, who was named a senior chairman of Goldman Sachs in 2018, when David Solomon took the top job. Of course, Dimon also didn't rule out the possibility that he might leave Wall Street for a career in public service. When asked whether he would consider a <keyword id="19927357" type="General" weightage="20" keywordseo="government-job" source="keywords">government job</keyword> under the right circumstances, he demurred. "I've always been an American patriot. My country is more important to me than my company," he said, explaining why he's so involved in guiding public policy. After saying he wouldn't likely accept a government job, he added: "But I've always reserved the right. I don't make promises to people. I don't have to." <h2>Political prognostications</h2>Dimon made the comments during the company's third-quarter earnings call to <a target="_blank" href="https://www.businessinsider.com/jpmorgan-earnings-q3-jamie-dimon-economy-geopolitics-banking-wall-street-2024-10">review its most recent performance</a>. JPMorgan reported net income of nearly $13 billion, with revenue from consumer and community banking topping $17 billion and investment-banking revenue reaching $2.4 billion, a nearly 30% increase from the same time last year. Asset and wealth management revenue was up nearly 10% over the same period, exceeding $5 billion. Goldman Sachs, Citi, and Bank of America will report earnings on Tuesday. Dimon on Friday opened his press release with a statement that included his thoughts on the current geopolitical environment, which he called "treacherous." "We have been closely monitoring the geopolitical situation for some time, and recent events show that conditions are treacherous and getting worse," Dimon wrote. "There is significant human suffering, and the outcome of these situations could have far-reaching effects on both short-term economic outcomes and more importantly on the course of history." He also warned that "critical issues remain," like fiscal deficits, infrastructural concerns, and the "remilitarization of the world." His pontifications about global affairs have become more pessimistic in tone in recent months as he's weighed in on <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-likes-musks-department-of-government-efficiency-idea-2024-9">a range of international issues</a>. The Wells Fargo analyst on Friday suggested Dimon has been commenting on government pontifications in the past year more than at any other time in his career, raising questions about his political aspirations. On Friday's call, Dimon also suggested that he's taking a conservative view of JPMorgan's spending as a result of the turbulent geopolitical environment. When asked how the bank might spend its excess cash, whether to buy back stock or invest in the business he suggested that now is the time to save. "Cash is a very valuable asset sometimes in a turbulent world," Dimon said. "You see my friend Warren Buffett stockpiling cash right now. I mean, people should be a little more thoughtful about how we're trying to navigate in this world." Correction: October 11, 2024 — An earlier version of this story misspelled Lloyd Blankfein's name.

Jamie Dimon suggests he will remain at JPMorgan for a very long time

<ul class="summary-list"><li>Jassy emphasized aggressive investment in AI during a call with analysts.</li><li>Amazon plans $75 billion in capex, and even more in 2025, mostly for cloud services.</li></ul>Just when you thought Big Tech executives couldn't get more bullish on AI, <a target="_blank" class="" href="https://www.businessinsider.com/amazon-nuclear-power-strategy-ai-2024-10">Amazon</a> CEO <a target="_blank" class="" href="https://www.businessinsider.com/andy-jassy-amazon-web-services-ceo-2021-1">Andy Jassy</a> upped the ante on Thursday. During a call with analysts, he described a range of attractive opportunities for Amazon, and said the company will <a target="_blank" class="" href="https://www.businessinsider.com/amazon-data-centers-delays-costs-power-labor-shortages-aws-ai-2024-10">continue to "aggressively" invest</a> in AI.Amazon is on pace to spend $75 billion on capital expenditures this year, and it will spend even more in 2025, the CEO added. Most of this will be for the Amazon Web Services cloud unit."We've proven over time that we can drive enough operating income and free cash flow to make this a very successful return on invested capital business," Jassy said. "And we expect the same thing will happen here with generative AI. It is a really unusually large, maybe once in a lifetime type of opportunity."Jassy's remarks came after Amazon reported <a target="_blank" href="https://www.businessinsider.com/amazon-stock-earnings-report-call-live-updates-2024-10">third-quarter results</a> that largely beat Wall Street expectations. Amazon's stock jumped roughly 6% in after-hours trading.Amazon has launched a number of new AI services in recent years, including Bedrock, <a target="_blank" class="" href="https://www.businessinsider.com/amazon-ai-models-bedrock-service-success-2024-9">an AI development tool</a>, the Rufus shopping agent, and <a target="_blank" class="" href="https://www.businessinsider.com/aws-ai-chips-wider-regional-availability-microsoft-google-2024-9">homegrown AI chips</a> called Inferentia and Trainium.Those AI services are now on pace to generate "multi billion dollars" in revenue this year, and are growing at "triple digit percentages year over year," Jassy said during the call. Amazon's AI business is "growing three times faster at its stage of evolution than AWS did itself," he added.AWS's in-house AI chip business has seen mixed results so far due to Nvidia's huge market share, BI previously reported. On Thursday, Jassy said he sees a "chance to improve over time" in that space because AWS's chips are more affordable than other offerings. Customers are realizing that AI model training and inference "could get costly" and AWS's AI chips can be "very compelling" in terms of its price, the CEO explained. In fact, he said customer demand has been so strong that AWS had to go back to its chip manufacturing partners twice to produce more of its AI chips, Jassy added."It's a very significant opportunity for us in the AWS space, and it's going to be a very significant opportunity for customers," Jassy said.Do you work at Amazon? Got a tip?Contact the reporter, Eugene Kim, via the encrypted-messaging apps Signal or Telegram (<a target="_blank" rel="noopener noreferrer nofollow" class="c-link">+1-650-942-3061</a>) or email (<a target="_blank" href="mailto:ekim@businessinsider.com">ekim@businessinsider.com</a>). Reach out using a nonwork device. Check out Business Insider's <a target="_blank" rel="" href="https://www.businessinsider.com/insider-guide-to-securely-sharing-whistleblower-information-about-powerful-institutions-2021-10">source guide</a> for other tips on sharing information securely.

Amazon's CEO is even more bullish on the AI opportunity

The career rise of billionaire Alex Karp, Palantir's outspoken CEO

<ul class="summary-list"><li>Boeing's still-new CEO, Kelly Ortberg, <a target="_blank" class="" href="https://www.businessinsider.com/see-inside-boeing-777x-test-aircraft-biggest-twin-engine-airliner-2023-8">faces urgent challenges</a>, including a worker strike.</li><li>Ortberg has to address decades of management issues and concerns from customers, workers, and investors.</li></ul><a target="_blank" href="https://www.businessinsider.com/boeing-new-ceo-kelly-ortberg-2024-7">Kelly Ortberg</a> took the helm at Boeing with no time to spare.Just two months in and he is grappling with striking workers, <a target="_blank" class="" href="https://www.businessinsider.com/boeing-q3-results-earnings-loss-ceo-vows-iconic-again-2024-10">multi-billion-dollar losses</a>, and a corporate culture gone adrift — all while trying to create a plan to one day <a target="_blank" class="" href="https://www.businessinsider.com/boeing-ceo-turnaround-plan-employee-memo-earnings-2024-10">develop a new aircraft</a>.Unlike the lucky new CEO who gets to walk factory floors and office hallways before pulling big levers of change, Ortberg faces pressure to do as much as he can quickly to correct course after more than two decades of misfires by five previous CEOs.Ortberg, who started in August, is trying to set expectations."I'm still in the process of traveling around, meeting our people, particularly two and three levels down," he said during an investor call Wednesday. "We just have to get everybody in the right position, running the right play, focused on the right thing, and I think we've got some work to do there."The pressure to perform is significant. On Wednesday, the company reported a loss of $6.1 billion for the third quarter. The same day, the machinists' union again rejected a company proposal that would have delivered a 35% pay increase over four years. According to one group of analysts, the strike has cost the company <a target="_blank" href="https://www.businessinsider.com/boeing-strike-costing-50m-per-day-as-negotiations-restart-2024-10">$50 million a day</a>.Ortberg, in a letter released to employees along with the company's third-quarter results, said Boeing's customers want — and need — the company to succeed."With the right focus and culture, we can be an iconic company and aerospace leader once again," he wrote.The letter offered a reminder that Ortberg has to balance pressures from workers, investors, and Boeing's customers. In the case of the company's commercial business, which builds aircraft for airlines, that ultimately means the flying public.Bill George, the former CEO of medical device maker Medtronic and an executive fellow at Harvard Business School, told BI that Ortberg has to tackle short-term challenges like the worker strike and shoring up cash flow while also making "bold decisions" for the long term."He can't just do one or the other," George said.<h2 id="344697db-407e-4770-8539-290cb807cfc8">Restoring a culture of safety</h2>George said that while the company's commercial, defense, and space businesses each face challenges individually, the broader issue that needs prioritizing is restoring a <a target="_blank" href="https://www.businessinsider.com/alaska-boeing-737-max-9-door-blowout-company-response-earnings-2024-1">culture of safety after high-profile failures</a>."That's the most important thing he's got to do, but that will take time," George said. He estimates fixing the culture and quality concerns might take three to five years and even longer to embed them deep within the company.George said Ortberg's background as an engineer — and not being a <a target="_blank" href="https://www.businessinsider.com/boeing-ceo-says-decision-resign-his-own-2024-3">finance type who previously ran the company</a> — should help on the communication front with many of the company's workers."They know if you know what you're talking about or not," George said. "If you don't, they don't have any confidence."He added Ortberg's decision to <a target="_blank" href="https://www.businessinsider.com/boeing-disaster-american-businesses-greedy-broken-stock-market-wall-street-2024-2">move to the Seattle area, unlike prior chiefs</a>, was wise. The company has deep roots there, particularly in its commercial business."You need to have the whole top team in Seattle and run it out of there," George said.<h2 id="aa7aebc2-c476-4c9a-bb7f-bef3296a434a">Rebuilding trust with employees</h2>Rosalind Franklin, a partner in the global leadership consulting practice at the executive search firm Boyden, told BI that to build trust and be most effective, Ortberg needs to sound a note that is "both vulnerable and yet strong" without being deceptive.She said that means being open about "the hurt" that the company's recent decision to <a target="_blank" href="https://www.businessinsider.com/boeing-layoffs-strike-777x-delay-freighter-2024-10">cut 10% of its workforce</a> will cause. Ortberg needs to "communicate honesty and acknowledge the fact that this is a really difficult time for the company," Franklin said."When you feel that the CEO is with you, and the CEO is feeling your pain, it makes it more tolerable and provides hope for the future," Franklin said.The need to <a target="_blank" href="https://www.businessinsider.com/top-business-execs-trending-insights-ai-worker-well-being-roundtable-2024-9">convey empathy</a> is greater than before the pandemic, she said, because many workers have come to expect more from their leaders.Franklin said that doesn't mean shying away from tough decisions."You can't give up what you know you need to do. It's not what you do, it's how you do it," she said.<h2 id="8c691d8b-13f0-4c1e-afad-b5a3768d68d2">Leading from the front</h2>Jeffrey Sonnenfeld, senior associate dean for leadership studies at Yale School of Management, told BI that "usually, the advice we would give someone is not to do too much too soon."In this case, he said, Ortberg doesn't have much choice but to try to fix the problems with labor, with the company's "precarious" financial situation, and with regulators' concerns.Sonnenfeld, who's also the founder of Yale's Chief Executive Leadership Institute, said the task before Ortberg is similar to those once faced by General Motors CEO Mary Barra and Alan Mulally, the former chief at Ford who once ran Boeing's commercial division.Like Boeing, Sonnenfeld said, both GM and Ford are complicated industrial businesses that sit prominently in the public eye. When the automakers' respective CEOs had to wrest their companies from crises, both made "really bold" public statements and were highly visible, he said."They banked a lot on the character of leadership and demonstrated it with accountability and visibility with really good follow-up," Sonnenfeld said.In his letter, <a target="_blank" class="" href="https://www.businessinsider.com/boeing-corporate-culture-fix-executives-factory-floor-2024-10">Ortberg encouraged senior leaders</a> to close the distance between those in management and those closest to the manufacturing process. "We need to be on the factory floors, in the back shops and in our engineering labs," he wrote.That type of leadership "shows an accountability, shows an accessibility," Sonnenfeld said. "It shows a transparent and less formal style, and that's long past due."<h2 id="3996aed0-3075-47ab-98f6-3c71139b4c7c">A clear plan for the future</h2>George, the former Medtronic chief, said one step Ortberg could take to start restoring confidence and getting people excited about the future would be to announce a program for a new single-aisle aircraft redesigned from scratch."I think he must do that," George said.A new aircraft could leapfrog older designs that he said haven't kept pace with advances in jet engine and avionics in recent decades.Ortberg alluded to such a future in his letter. He wrote that the company has to fix its balance sheet "so that we do have a path to the next commercial aircraft."Richard Aboulafia, an aviation industry analyst who's a managing director at AeroDynamic Advisory, told BI that it's essential to talk about what's coming. He said Ortberg also needs to make clear that the planned job cuts won't compromise safety, add to delays in the company's defense business, or shortchange future product development."He has to reassure investors and everyone else that the situation is stable and also reassure the industry that they're prepared to invest in the future," Aboulafia said. "It's tough to thread that needle."

You Searched For "CEOs" and got 13 results

This is what Apple CEO Tim Cook named his group chat with college friends

Divyanshi Sharma

Apple unlikely to enter smart ring market as focus stays on Apple Watch, says Oura CEO

BI India Bureau

Trump said he'll unleash an oil boom. Exxon Mobil CEO says not so fast.

Catherine Boudreau,Jacob Zink…

Elon Musk to Tim Cook: A morning in the lives of big tech CEOs

Divyanshi Sharma

Google CEO Sundar Pichai asks team to safeguard trust during US elections, sends internal memo

BI India Bureau

Jane Lauder is departing Estée Lauder, taking her out of the race to lead the company her grandmother founded

Katie Balevic,Maria Noyen

NVIDIA and Reliance Industries to build AI computing infrastructure in India

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