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<ul class="summary-list"><li>Steve Martocci, cofounder of GroupMe, Blade, and Splice, is back with a new consumer health app.</li><li>His startup, SuppCo, helps people find trusted supplements and track their health progress.</li></ul>When Steve Martocci was still living in New York, the then-29-year-old GroupMe cofounder wanted to plan a date at the ultra-exclusive speakeasy Please Don't Tell.Getting a reservation at Please Don't Tell was no easy feat. New Yorkers hoping to sip cocktails at the East Village joint hidden behind a phone booth had to call right as the bar opened, and beat out the others doing the same, for any chance at a table.Martocci decided to solve his problem with code. He wrote a script that created dozens of phone numbers to call the bar's reception and then converge those lines into a conference call when an employee picked up one of the calls. His plan worked — he got the reservation, and then shared the application around to his friends for good measure."I only work on things that I really want to exist," he laughed.It's the same approach he's applied to the past three companies he's started: GroupMe, Blade, and Splice. GroupMe, which he built in TechCrunch Disrupt's 24-hour hackathon, <a target="_blank" class="" href="https://www.businessinsider.com/what-is-groupme">sold to Skype</a> a year after its creation for $85 million when Martocci was 27. His second company, music production platform Splice, where Martocci <a target="_blank" class="" href="https://www.businessinsider.com/starting-up-interview-steve-martocci-founder-of-groupme-blade-splice-2020-5">spent eight years as CEO</a>, has raised $160 million in venture capital, according to PitchBook. He also helped build the helicopter taxi company Blade, which <a target="_blank" class="" href="https://ipo-edge.com/blade-completes-business-combination-becoming-the-first-publicly-traded-urban-air-mobility-company/">went public in 2021.</a>So when, at a dinner party, Martocci's friend said she'd spent four hours that day organizing her supplements — after Martocci had been struggling with his own health and building up a corresponding supplement routine for years — his wheels started spinning.Today, Martocci is unveiling his latest venture: an app that helps people find consumer-trusted supplements, create and manage supplement routines, and track their health progress over time.The startup, called SuppCo, just raised a $5.5 million seed round co-led by Union Square Ventures and True Ventures, and including BoxGroup and Compound.Martocci and his cofounder, Nick Michlewicz, are tapping into a complex, ever-growing market for dietary add-ins, including everything from Vitamin C to herbs to probiotics. It's a space wrought with criticism and flooded with cash — some estimates value the global dietary supplements market at <a target="_blank" class="" href="https://www.grandviewresearch.com/industry-analysis/dietary-supplements-market-report">$180 billion</a> or more.Martocci's goal, he told Business Insider, is to help consumers take control of their health. Whether the consumer is a biohacker like <a target="_blank" class="" href="https://www.businessinsider.com/inside-bryan-johnson-dont-die-summit-singapore-longevity-health-biohacking-2024-10">Bryan Johnson</a> or your average Joe looking for a health tune-up, Martocci said, "SuppCo is for you."Union Square Ventures and True Ventures both previously invested in Splice. True Ventures' Adam D'Augelli called Martocci "one of the best consumer product, zero-to-one founders of the past 20 years."<div type="image" title="Three images of SuppCo's app, including a person's individual supplement routine, Thorne's TrustScore, and an analysis score of a person's supplement stack" height="2880" width="3840" msid="114317389" hostid="261" sizebytes="188160"></div><h2 id="0da33132-1098-4cb7-b672-1c52ce43935e">Building consumer trust</h2>Martocci first started taking supplements after GroupMe sold to Skype, when he was struggling with his health and weight. Working with a functional medicine doctor, getting regular lab work, and undergoing plenty of trial-and-error, Martocci began incorporating over a dozen supplements into his daily routine and tracking them all in a spreadsheet.The <a target="_blank" class="" href="https://www.crnusa.org/newsroom/three-quarters-americans-take-dietary-supplements-most-users-agree-they-are-essential">majority of US adults</a> regularly take dietary supplements. But supplements aren't regulated in the US like other drugs are. Companies can start selling supplements often <a target="_blank" class="" href="https://www.fda.gov/news-events/rumor-control/facts-about-dietary-supplements">without even notifying</a> the Food and Drug Administration, and the onus is on the agency to find and crack down on bad actors already in the market.That's where SuppCo's TrustScores come into play. The startup says it's collected data on over 500 popular supplement brands, reviewing over 160,000 products on attributes, including their total ingredient lists and consumer reviews. Martocci said the startup plans to keep adding to those analyses, including by evaluating ingredients added into certain products that aren't the supplements themselves.SuppCo cofounder Michlewicz previously cofounded two supplement companies, WellPath and Grummies. His knowledge of the industry was instrumental in designing and researching the TrustScores, Martocci said.<div type="image" title="Nick Michlewicz, cofounder of SuppCo." height="1250" width="1667" msid="114317393" hostid="261" sizebytes="226556"></div>Martocci is particularly excited about the community aspect of the app. SuppCo wants users to be able to share their routines and health data with their clinicians and connect with other consumers about what's worked for them."People take vitamins and supplements; they've always done that. But there hasn't really been a way to do that with, one, a good database to track what you're doing, and then more importantly, the ability share it and collaborate with other people," said Andy Weissman, managing partner at Union Square Ventures. "That way, you could probably solve a large part if not all of the kind of issues you're discussing, which are, is this good? Has anyone taken this? Is this good for me?"In the coming months and years, Martocci said SuppCo plans to use AI to comb through supplement research to strengthen the TrustScores, as well as to work with more experts, including doctors, scientists, and nutritionists.Right now, the beta version of SuppCo's app is free to everyone. While Martocci wouldn't disclose the details of how he wants SuppCo to make money, he says his goal is to create a "co-op-like membership model" that rewards the app's users for sticking to healthy habits over time.He clarified that SuppCo will never sell its users' data, and won't rely on ad revenue or notch partnerships with supplement companies. Martocci said he sees an opportunity to tap into the massive market with a new model that works with its customers rather than against them."I know there are really unique challenges in health, and there's going to be so much to deal with, but if anyone is prepared — having done what we did in music creation and building an incredible business there on the consumer side — I'm ready. I'm up for the challenge," he said.

Exclusive: The cofounder of GroupMe and Splice is taking on the $180 billion supplement industry with new startup SuppCo

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Welcome back! You've probably heard about universal basic income. But instead of giving people cash, what if you <a target="_blank" href="https://www.businessinsider.com/federal-jobs-guarantee-universal-basic-income-ubi-employment-economy-2024-8">guaranteed them a job</a>?In today's big story, we're looking at how the startup landscape is drastically changing thanks to <a target="_blank" href="https://www.businessinsider.com/more-startups-get-bought-up-by-private-equity-vc-2024-8">the entrance of private-equity firms</a> and <a target="_blank" href="https://www.businessinsider.com/dealmaking-for-ai-startups-silicon-valley-2024-8">the rise of acquihires</a>.What's on deck<ul><li>Markets: An under-the-radar risk is a <a target="_blank" rel="noopener" href="https://markets.businessinsider.com/news/stocks/ai-stocks-risk-nvidia-gpus-blackwell-tech-outlook-depreciation-accounting-2024-8">ticking time bomb for AI stocks</a>.</li><li>Tech: Elon Musk keeps coming up on the losing end of <a target="_blank" href="https://www.businessinsider.com/elon-musk-x-battle-mark-zuckerberg-meta-lost-cause-2024-8">his battle with Mark Zuckerberg</a>.</li><li>Business: The job market is frozen because <a target="_blank" href="https://www.businessinsider.com/us-job-market-recession-outlook-workers-quitting-hiring-trends-2024-8">everyone's afraid of a recession</a>.But first, let's make a (new kind of) deal.</li></ul>If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097">PE meets SV</h2><div type="image" title="Venture Capitalist Businessman walking quickly towards a bright opening, money falling from briefcase" height="500" width="1000" msid="112471541" hostid="261" sizebytes="42250"></div>With startups' exit opportunities becoming few and far between, a new hero is coming to the rescue.<a target="_blank" href="https://www.businessinsider.com/more-startups-get-bought-up-by-private-equity-vc-2024-8">Private equity is filling the gap</a> left by a frozen IPO market and corporates unwilling or unable to cut deals, writes Business Insider's Melia Russell.Hearing "private equity" might send shivers down your spine with visions of cost cutting and headcount reductions. But the PE-startup marriage seems to be working out well thus far.For startups, PE represents a deep-pocketed buyer willing to move quickly, pay a premium, and potentially help the business by tapping into complementary companies in their portfolio.Perhaps most importantly, a PE deal means equity holders get cash immediately, unlike an IPO that has some holding periods.As for PE, the industry has been sitting on a record amount of cash — <a target="_blank" href="https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/private-equity-firms-face-pressure-as-dry-powder-hits-record-2-59-trillion-79762227">$2.59 trillion at the end of 2023</a> — as it waits out an uncertain economy. And with multiple startups often competing in similar fields, there is plenty of opportunity for consolidation, a PE specialty.The PE-startup relationship has <a target="_blank" href="https://www.businessinsider.com/private-equity-funds-targeting-buyouts-investments-rollups-european-tech-2023-10">already taken hold in Europe</a>.Startups turning to PE comes with risks. Private equity's push for efficiency, and eventual profit, can sometimes get ugly.But any port in a storm, and right now the startup waters are extra choppy.<div type="image" title="digital wall street virtual remote work 3 4x3" height="1501" width="2001" msid="112471535" hostid="261" sizebytes="139168"></div>PE isn't the only exit opportunity for startups that's trending.Acquihires where the <a target="_blank" href="https://www.businessinsider.com/dealmaking-for-ai-startups-silicon-valley-2024-8">brains behind buzzy AI startups sell themselves</a> (instead of the entire company) to bigger players are in vogue, writes BI's Ben Bergman and Sri Muppidi.On paper, deals like this make a lot of sense. Big Tech has to tread lightly when it comes to acquisitions, lest it draw the attention of regulators. And the usefulness of certain AI tools remains up for debate.But no one doubts the value of the people who know how to build and work with AI.Still, acquihires <a target="_blank" href="https://www.businessinsider.com/ai-startups-acquihires-deals-talent-risks-recruiting-2025-5">can get messy</a>. You can't expect the same results when going from a free-wheeling startup to a big corporation with guardrails. Google's deal for <a target="_blank" href="http://Character.AI">Character.AI</a> meant its two cofounders are returning to a place they previously left due to frustrations over bureaucracy.Of course, they'll be a lot richer this time around, which will ease the pain. The same can't be said for their investors, who won't get the same type of return they'd expect through a traditional deal or IPO.But not unlike startups courting private equity, VCs don't necessarily <a target="_blank" href="https://www.businessinsider.com/vcs-reality-check-ton-of-people-looking-get-out-2024-8">have the benefit of being picky</a>.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li><a target="_blank" href="https://www.businessinsider.com/ice-immigration-customs-enforcement-training-deescalation-use-of-force-2024-8">ICE agents 'don't fire warning shots.'</a></li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/jpmorgan-pe-recruiting-crackdown-conflicts-interest-junior-bankers-2024-8">How JPMorgan's crackdown on private-equity recruiting could play out for junior bankers, PE firms, and more</a>.</li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/susan-wojcicki-dead-2024-8">Susan Wojcicki, former YouTube CEO, has died at 56</a>.</li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/why-ukraine-is-striking-deep-inside-russian-territory-experts-2024-8">Ukraine is striking targets hundreds of miles inside Russia for 3 key reasons, experts say</a>.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="Photo illustration of a speedboat creating waves that look like a volatile stock market graph" height="1500" width="2000" msid="112471536" hostid="261" sizebytes="589344"></div><ol><li>I hope you like market volatility, because it's not going anywhere. Regardless of what happens to the economy, the recent stock-market chaos might be the new norm. The winners and losers of this new environment aren't evident, just that there will be <a target="_blank" href="https://www.businessinsider.com/recession-fears-fueling-stock-market-crash-wall-street-chaos-positive-2024-8">plenty of ups and downs along the way</a>.</li><li>The clock is ticking on AI stocks. There's a lot of chatter about tech companies' investment in AI, but some of that hardware won't stay valuable forever. Depreciation costs to massive GPU chip investments <a target="_blank" rel="noopener" href="https://markets.businessinsider.com/news/stocks/ai-stocks-risk-nvidia-gpus-blackwell-tech-outlook-depreciation-accounting-2024-8">pose a huge risk for AI companies</a>.</li><li>Taylor Swift + Olympics = inflation? They could cause a fresh surge in global inflation, according to UBS. Mega-events like the international sports competition or the Eras Tour could <a target="_blank" href="https://www.businessinsider.com/inflation-outlook-olympics-taylor-swift-us-economy-fed-rate-cuts-2024-8">create sudden shock demand</a>, the European bank said.</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="A flat tire with a Fisker logo" height="1500" width="2000" msid="112471532" hostid="261" sizebytes="192128"></div><ol><li>Fisker owners struggle to keep cars on the road after the company's collapse. Weeks after Fisker declared bankruptcy, some owners who paid up to $70,000 for electric cars have found themselves with <a target="_blank" href="https://www.businessinsider.com/fisker-owners-describe-chaos-to-keep-cars-running-after-bankruptcy-2024-7">falling-apart vehicles</a>. One compared his car to a "lawn ornament."</li><li>Behold, the "Mythical Reel Pull." Instagram Reels may seem pretty weird lately. Users are stumbling across odd videos, often posted by creators who had no intention of going viral. The strange videos are referred to as "mythical reel pulls," and there may be <a target="_blank" href="https://www.businessinsider.com/instagram-reels-mythical-reel-pull-tiktok-algorithim-account-why-explained-2024-8">a reason for their sudden ubiquity.</a></li><li>Sorry, Musk. Looks like Zuck won this round. Elon Musk's eternal goal of one-upping his rival Mark Zuckerberg is looking <a target="_blank" href="https://www.businessinsider.com/elon-musk-x-battle-mark-zuckerberg-meta-lost-cause-2024-8">more and more like a lost cause</a>. His ongoing fights with advertisers and controversies over false information threaten to set X further behind Zuck's social-media empire.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="Photo collage of a plane and cash." height="1500" width="3000" msid="112471539" hostid="261" sizebytes="146608"></div><ol><li>Flying might get better. Airplane travel is the worst it's ever been, but <a target="_blank" href="https://www.businessinsider.com/flying-delays-cancellations-passenger-airlines-air-travel-rights-refunds-fees-2024-8">the Biden administration wants to make it less disastrous for passengers</a>. The message they're sending to the airline industry: You've had too many screwups to be left to your own devices.</li><li>American workers are stuck in their jobs. It's tough to find a job in the US right now — and it's causing workers to feel trapped in their current gigs. <a target="_blank" href="https://www.businessinsider.com/us-job-market-recession-outlook-workers-quitting-hiring-trends-2024-8">This is likely due to a looming fear of a recession</a>, which has historically caused workers to hunker down.</li><li>PE firms &lt;3 public healthcare companies. Revenue cycle management company R1 RCM announced its acquisition by two PE firms for a whopping $8.9 billion, making it the third of its kind to take a buyout this summer. It could be <a target="_blank" href="https://www.businessinsider.com/big-deals-coming-healthcare-startups-take-privates-private-equity-2024">a good sign for startups</a>.</li></ol><h2 id="1ad7b482-3f4b-44b4-81b6-a864aa386478">In other news</h2><ul><li>How Gen Z women are <a target="_blank" href="https://www.businessinsider.com/gen-z-women-personal-finance-investing-stocks-wealth-savings-retirement-2024-8">investing their way to the good life</a>.</li><li>Why Apple should buy Warner Bros. Discovery. <a target="_blank" href="https://www.businessinsider.com/apple-should-buy-warner-bros-discovery-hbo-peter-kafka-2024-8">No, seriously</a>.</li><li>What Maya Rudolph's impression <a target="_blank" href="https://www.businessinsider.com/maya-rudolph-snl-impression-kamala-harris-race-linguistic-trump-2024">reveals about Kamala Harris</a>.</li><li>Two former bankers turned their experience into HBO's most underrated show. <a target="_blank" href="https://www.businessinsider.com/industry-season-3-bankers-true-story-mickey-down-konrad-kay">Now, it's finally getting the attention it deserves</a>.</li><li>A dietitian who researches ultra-processed foods mostly avoids them. <a target="_blank" href="https://www.businessinsider.com/dietitian-avoids-ultra-processed-foods-shares-3-healthy-snacks-2024-8">Here are her 3 favorite healthy, quick snacks</a>.</li></ul><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>Donald Trump is interviewed by Elon Musk.</li><li>Buzzfeed and <a target="_blank" href="https://markets.businessinsider.com/earnings-calendar">other companies</a> report earnings.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Amanda Yen, fellow, in New York.

The startup landscape for deals is drastically changing 

<keyword id="19896956" type="General" weightage="100" keywordseo="Swiggy" source="keywords" meta.keywordsubtype="org" meta.entityname="Swiggy" meta.hostid="261" meta.entityid="Swiggy">Swiggy</keyword> is a popular choice for Indians when it comes to getting food delivered. The company's founder recently revealed that the decade-old startup partners with over 3 lakh <keyword id="19980908" type="General" weightage="20" keywordseo="restaurants" source="keywords">restaurants</keyword> today. But were things always this bright with the <keyword id="20299302" type="General" weightage="20" keywordseo="food-delivery" source="keywords">food delivery</keyword> platform? Not really. On its first day, the company had 0 <keyword id="20198062" type="General" weightage="20" keywordseo="orders" source="keywords">orders</keyword>. <h2>Swiggy's journey through its founder's lens</h2>Founded in 2014, Swiggy started with modest aspirations. The company's co-founder and CEO Sriharsha Majety revealed the startup's journey in a LinkedIn post recently as Swiggy marked its 10th anniversary. Majety reminisced about the humble beginnings when the concept of food delivery was still new in India. “When we launched Swiggy on August 6, 2014, we ended the day with zero orders. The next day, we received our first-ever order, marking the true beginning of our journey,” he wrote, recalling how the company's journey started with just one order. One of the first restaurants to partner with Swiggy was Truffles, a well-known eatery in Bangalore, which began with just two daily orders on the platform. Today, Swiggy’s network has grown exponentially, boasting partnerships with over 300,000 restaurants across the country. Majety also expressed deep gratitude to the early partners who believed in Swiggy’s vision when the concept of on-demand food delivery was still in its infancy. He acknowledged that these early collaborators were more than just business partners; they were integral to Swiggy’s foundation and its evolution into the industry leader it is today. “Their trust and partnership have been invaluable, and they are like core founding team members who helped create food delivery in India as we know it today,” he wrote in the LinkedIn post, highlighting the importance of collaboration in the company’s success. <h2>Swiggy's stock market debut</h2>As Swiggy celebrates this significant milestone, it does so on the cusp of another major event: its anticipated stock market debut. With <keyword id="19901323" type="General" weightage="20" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword>, its primary competitor, already listed, Swiggy’s entry into the stock market is eagerly awaited. Speaking at the Moneycontrol Startup Conclave, Majety had reflected on the implications of having a listed competitor. He noted the advantages, such as not needing to explain the fundamentals of the on-demand economy, as well as the challenges, particularly the inevitable comparisons that will arise with each quarterly performance report. As of April 2024, Swiggy has achieved a valuation of USD 12.7 billion, a figure that underscores the company’s impressive growth trajectory over the past decade. Thus, from its beginnings with a single order to becoming a leading player in India’s food delivery market, Swiggy’s journey is an inspiration for all startup founders out there.

Swiggy co-founder reveals the company had 0 orders on day 1, now it has over 3 lakh partners

<ul class="summary-list"><li>Jason Bennett, 46, moved from San Francisco to Medellín, Colombia in 2018.</li><li>Bennett quit his job at Banana Republic to move abroad and launch two startups.</li></ul>Jason Bennett had a successful career in San Francisco but didn't see a future for himself in <a target="_blank" href="https://www.businessinsider.com/quit-job-after-rto-mandate-never-work-office-again-2024-9">the corporate world</a>.Bennett, 46, worked as a senior marketing director for Banana Republic. He earned a good salary and received great bonuses but <a target="_blank" class="" href="https://www.businessinsider.com/american-employees-disengaged-work-meaningless-fake-email-jobs-2024-6">felt unfulfilled</a>."I started to feel a disconnect with both my job and my city," Bennett said. "I started to wonder if I really wanted to spend the rest of my life in an office working for other people."In 2015, Bennett <a target="_blank" class="" href="https://www.businessinsider.com/millenniall-quit-job-start-business-shares-advice-entrepreneurship-networking-mentor-2024-9">quit his job</a> at Banana Republic and founded True Star Consulting, a marketing firm that specializes in strategic planning and creative direction for brands. He said he had saved enough for the future and was ready to start a new adventure at the age of 37.At that time, Bennett moved to Lisbon and began running True Star Consulting as a <a target="_blank" href="https://www.businessinsider.com/millennial-retired-parents-digital-nomad-family-live-abroad-cheaply-2024-8">digital nomad</a>. In 2016, he visited Medellín, <a target="_blank" href="https://www.businessinsider.com/gen-xer-moves-from-california-to-columbia-for-cheaper-retirement-2024-9">Colombia</a>, and said he envisioned it as his future home. He relocated there two years later.While many Americans are <a target="_blank" class="" href="https://www.businessinsider.com/baby-boomer-financial-independence-retired-age-60-puerto-vallarta-mexico-2024-9">moving abroad for retirement</a>, Bennett is among the working professionals <a target="_blank" class="" href="https://www.businessinsider.com/millennial-four-day-workweek-netherlands-chiropractor-high-skilled-visa-2024-9">seeking a career</a> outside the US. According to <a target="_blank" class="" href="https://www.fvap.gov/uploads/FVAP/Reports/2022-OCPA-Report_Combined_Final_20230925.pdf">data</a> from the Federal Voting Assistance Program, which helps overseas citizens vote in US elections, 429,674 US citizens lived in South and Central America and the Caribbean in 2022, up from 374,241 in 2012."It was one of, if not the best, decisions I've ever made," Bennett said. "It always felt like home."<div type="image" title="Photo shows Jason Bennett, 46, looking over Medellín, Colombia, where he moved in 2018" height="853" width="1280" msid="114013025" hostid="261" sizebytes="301036"></div><h2 id="ecf25e36-8f0b-40e5-a4ac-8b941ed2b04d">Building financial independence started at a young age</h2>Bennett was born and raised in San Francisco. He earned his bachelor's degree in business administration from the University of Oregon in 2000.After college, Bennett worked in marketing at the department store Mervyn's before joining Banana Republic in 2004. Over the next decade, Bennett ascended through the corporate ranks, becoming a director of marketing in 2013 and a senior director shortly after.While Bennett enjoyed his job, he said he felt unsatisfied with his day-to-day work. He wanted to take ownership of his schedule and career growth."At the end of the day, I wanted to be my own boss," he said.Bennett said the prospect of quitting his job at Banana Republic seemed reasonable because he had been actively saving and was diligent about his finances."Very early on, my grandparents told me to max out my 401(k) and then go have fun, and that's what I did," Bennett said. "The lesson of compound interest should be topic No. 1 for anyone thinking about one day charting their own path."In 2012, while still living in San Francisco, he bought a one-bedroom, 700-square-foot condo for under $400,000. Bennett said he chose a 15-year mortgage to accelerate his home equity and lock in a lower interest rate.Bennett also grew his wealth through investing in stocks, index funds, and fixed-income securities like certificates of deposit. He's been keeping detailed track of his finances since 1995, when he was 17 years old.Bennett said he felt confident to quit his own job to earn a fraction of the salary at his own company — and he felt confident to move abroad. He declined to share what his company books in revenue."I didn't know I was going to do this when I was 25," Bennett said. "But I did know it was important to save."<h2 id="70ee5480-51eb-4164-ab61-205bbf2d0ddc">Life in Medellín compared to San Francisco</h2>Bennett said life in Medellín is incredible, from the weather to the culture and food.He said his cost of living is much lower than in San Francisco. For example, he said he can have "excellent meals" for less than $10, and a cup of "the world's best coffee" for less than $2. He also said public transportation and Uber are inexpensive<div type="image" title="Photo shows a cup of coffee in a café in Medellín, Colombia." height="1695" width="1440" msid="114013028" hostid="261" sizebytes="189744"></div>Bennett is single and child-free, which also keeps his daily costs down.He feels so passionate about Medellín that he founded a tourist company, The Paisa Plan, to help people plan their visits to Colombia and the city. However, Bennett declined to share what his company books in revenue.He also volunteers his marketing strategy services for the Medellín Philharmonic Orchestra."It reflects my love, respect, and appreciation for my adopted home, and aims to help visitors really discover the magic of Medellín," he said.<div type="image" title="Photo shows Jason Bennett, 46, in Medellín, Colombia, with his mother." height="3024" width="4032" msid="114013030" hostid="261" sizebytes="2150056"></div>He said he is still smart about savings, despite having a lower cost of living.Six years into his life in Medellín, Bennett said he has a better work-life balance than he ever experienced in San Francisco. Additionally, he said the city is full of energy."I also take every opportunity to explore the city and immerse myself in what it has to offer," he said. "There are so many excellent restaurants and cafés. More stunning parks than you can count. And there is always something happening culturally."Are you an American who moved abroad for work? This reporter wants to hear your story. Please reach out at <a target="_blank" class="" href="mailto:jtowfighi@businessinsider.com">jtowfighi@businessinsider.com</a>

A Gen Xer quit his corporate job in SF and moved to Colombia. He said Medellín is more affordable and he's been able to launch 2 startups.

<a href="https://www.businessinsider.com/startup-employees-brace-for-back-to-back-rounds-of-layoffs-2023-10"></a><ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Halfway to the weekend! Don't sweat it if you're fed up trying to find the one. Users of the dating app Tinder can now let friends and family <a href="https://www.businessinsider.com/tinder-matchmaker-feature-lets-friends-family-recommend-potential-matches-dating-2023-10">recommend potential matches</a>, meaning you can blame them for your bad dates. In today's big story, we're looking at why startups that have navigated multiple rounds of layoffs have left their <a href="https://www.businessinsider.com/startup-employees-brace-for-back-to-back-rounds-of-layoffs-2023-10" target="_blank" rel="noopener">workers feeling defeated</a>.What's on deck: <ul><li>Markets: JPMorgan's Jamie Dimon isn't impressed with <a href="https://www.businessinsider.com/jamie-dimon-jpmorgan-outlook-wall-street-central-bank-economy-recession-2023-10">central bankers' forecasting abilities</a>.</li><li>Tech: Creating an "Amazon of real estate" with tech could <a href="https://www.businessinsider.com/buying-a-home-house-too-complicated-amazon-real-estate-market-2023-10">fix home-buying</a>.</li><li>Business: Planet Fitness' ex-CEO's <a href="https://businessinsider.com/planet-fitness-ceo-chris-rondeau-cash-keg-alcohol-2023-10">hard-partying ways</a> raised eyebrows among some staff.</li></ul>But first, I just put something on your calendar.<h3>The big story</h3><h2>Lamenting layoffs<a href="https://www.businessinsider.com/subscription/newsletter/insider-today"></a></h2><a href="https://www.businessinsider.com/startup-employees-brace-for-back-to-back-rounds-of-layoffs-2023-10"></a><div type="image" title="A young office worker holding a box of his personal belongings standing by a red emergency exit door with a trail of money flowing out behind him on a green background" height="1440" width="1920" msid="104705804" hostid="261" sizebytes="66008"></div>"Am I next to go?"It's a question more and more startup employees are contemplating amid a historic downturn in the industry coupled with a pullback in VC funding.Concerns over job security have always lingered in the high-risk world of startups. But as Insider's Samantha Stokes and Madeline Renbarger detail, <a href="https://www.businessinsider.com/startup-employees-brace-for-back-to-back-rounds-of-layoffs-2023-10" target="_blank" rel="noopener">employees are on edge nowadays</a> because of the threat of multiple layoffs in a short time. Instead of feeling relieved after surviving a round of job cuts, employees wonder when the next headcount reduction will occur. The process has left employees feeling demoralized and stressed, with some telling Samantha and Madeline they've lost confidence and faith in leadership.It's worth noting that startups have always had a risk-reward aspect, even if it didn't feel that way for a long time.For every successful startup, countless ones have failed. But seemingly endless venture funding and eye-popping valuations over the past decade, especially in the wake of the pandemic, made it easy to dismiss the risks. Why work for a corporate entity and be a cog in the wheel when you can get hands-on experience at a startup? (And make a ton of money along the way.)<a href="https://www.businessinsider.com/startup-employees-brace-for-back-to-back-rounds-of-layoffs-2023-10"></a><div type="image" title="A GIF of an arm holding a box of stuff, multiplying" height="600" width="1200" msid="104705805" hostid="261" sizebytes="49200"></div>But just because layoffs are a necessary evil of the startup industry, that doesn't mean employees' concerns aren't warranted. Samantha told me one issue raised by sources was the uncertainty around how different layoffs were conducted. Severance packages sometimes varied between rounds of layoffs, causing further confusion and fear. Another issue was the need for more transparency. Founders' positive outlooks in the midst of multiple layoffs were offputting to employees who just wanted to be treated like adults, Samantha told me. I understand the importance of a leader putting on a brave face for the troops and avoiding information overload, but keeping workers in the complete dark comes with its own risks. Startup employees often go on to start their own companies, so it'll be interesting to see how these experiences shape the next generation of companies. Future founders could take a more transparent approach to management. Or it could just mean startups conduct deeper cuts initially to avoid more layoffs in the short term.<h2>3 things in markets</h2><a href="https://www.businessinsider.com/jamie-dimon-jpmorgan-outlook-wall-street-central-bank-economy-recession-2023-10"></a><div type="image" title="Jamie Damon with photographers behind him" height="650" width="1300" msid="104705807" hostid="261" sizebytes="64900"></div><ol><li> Jamie Dimon points the finger at central banks. The JPMorgan CEO said at a conference that central bankers were "100% dead wrong" with their forecasts 18 months ago. Going forward, he recommended preparing for "<a href="https://www.businessinsider.com/jamie-dimon-jpmorgan-outlook-wall-street-central-bank-economy-recession-2023-10">possibilities and probabilities</a>" versus "calling one course of action."</li><li> The big money in building EV charging stations. The adoption of commercial electric vehicles means a <a href="https://www.businessinsider.com/real-estate-investors-ev-truck-electric-charging-stations-2023-10">huge opportunity for real-estate investors</a> to build charging stations. Prologis, the $100 billion owner of industrial and logistical properties, has already reached a deal to build one such station in Southern California.</li><li>David Rosenberg warned investors not to repeat their mistakes before the 2008 financial crisis. The famed economist compared current predictions of a soft landing to the <a href="https://markets.businessinsider.com/news/stocks/market-economy-outlook-recession-2008-housing-crash-financial-crisis-rosenberg-2023-10">investor complacency ahead of the 2008 crash</a>. "I am willing to acknowledge that the recession has been delayed. But it has not been derailed," he wrote in a recent memo.</li></ol><h2>3 things in tech</h2><a href="https://www.businessinsider.com/buying-a-home-house-too-complicated-amazon-real-estate-market-2023-10"></a><div type="image" title="Among a tangle of jungle plants and vines, a lane of houses appears, with eager real estate agents stand in front of the doorways. And the lane narrows, the horizons depicts the houses fragmenting, a lone orange house surviving in the large expanse of a starry night sky." height="960" width="1920" msid="104705809" hostid="261" sizebytes="477294"></div><ol><li> Why buying a home is still so complicated. Today's house hunters don't just face an inventory shortage and rising mortgage rates. With so many startups trying to update various parts of the process for the digital age, buying a home has actually <a href="https://www.businessinsider.com/buying-a-home-house-too-complicated-amazon-real-estate-market-2023-10">gotten more complicated</a>.</li><li> In the age of AI, the new luxury item will be humans. You can buy an overwhelming variety of items online. This abundance has taken much of the satisfaction away from purchasing physical things. This is why experiences, which by definition are finite, <a href="https://www.businessinsider.com/ai-artificial-intelligence-new-luxury-item-will-be-humans-2023-10">became more valuable</a>.</li><li>Microsoft just shut down an "industrial metaverse" project. Project Airism was the company's AI-based drone simulation software. But Microsoft confirmed that it's discontinuing the project in December. And employees were told on Monday that the <a href="https://www.businessinsider.com/microsoft-shutters-project-airsim-ai-strategy-openai-2023-10">whole team would be laid off</a>, according to a person familiar with the matter.</li></ol><h2>3 things in business</h2><a href="https://businessinsider.com/planet-fitness-ceo-chris-rondeau-cash-keg-alcohol-2023-10"></a><div type="image" title="Disgraced Planet Fitness CEO gestures upward with his right hand, his eyes jubilant. A falling white arrow crosses his chest. Next to him are two yellow starbursts. One shows a stack of one hundred dollar bills. The other is a keg with red solo cups faced on top." height="1440" width="1920" msid="104705811" hostid="261" sizebytes="252030"></div><ol><li> Planet Fitness CEO firing remains a mystery, but former employees say his behavior raised some eyebrows. Chris Rondeau claims he was "seriously blindsided" by his ouster. But ex-staff say he kept a keg in his office and would have assistants <a href="https://businessinsider.com/planet-fitness-ceo-chris-rondeau-cash-keg-alcohol-2023-10" target="_blank" rel="noopener">withdraw thousands in cash</a> from his personal bank accounts for travel.</li><li> How Snap lost its chance at becoming an advertising giant. Snap's ad business makes up almost all of its revenue. But it's been losing a steady stream of advertisers to TikTok. Plus, it still hasn't fully recovered from Apple's privacy feature. So, its ad business has some <a href="https://www.businessinsider.com/snap-advertising-struggle-2023-10">major hurdles to overcome</a>.</li><li>It's hard to know how much Uber and Lyft drivers are paid. Different pay calculations, car expenses, and customer tips can produce a wide range of driver incomes. Their hourly pay can be <a href="https://www.businessinsider.com/how-much-uber-lyft-drivers-make-per-ride-2023-10">as low as $9 or as high as $40</a> — depending on who's calculating.</li></ol><h2>In other news</h2><ul><li>How Baltimore PD's tactics in handling convicted sex offender Jason Billingsley may have <a href="https://www.businessinsider.com/baltimore-police-jason-billingsley-sex-offender-fugitive-psychology-2023-10">enabled him to kill a tech CEO</a>.</li><li>Court documents reveal <a href="https://www.businessinsider.com/off-duty-pilot-charged-alaska-airlines-court-documents-2023-10">an even weirder story</a> of the off-duty pilot who attempted to turn off a plane's engine mid-flight.</li><li>Why IPAs are about to <a href="https://www.businessinsider.com/hops-beer-ipa-price-climate-change-weather-2023-10">get more expensive</a>.</li><li>"Scary Fest" — Apple just announced an event for <a href="https://www.businessinsider.com/apple-mac-event-october-scary-fast-2023-10" target="_blank" rel="noopener">the day before Halloween</a>.</li><li>New York City has lost 100,000 apartments because rich neighborhoods keep <a href="https://www.businessinsider.com/new-york-city-losing-rental-housing-crisis-combine-apartments-2023-10">combining units</a>.</li><li>Google is <a href="https://www.businessinsider.com/google-sales-team-focus-mid-size-advertisers-performance-max-ai-2023-10">shaking up its sales strategy</a>.</li></ul><h2>What's happening today</h2><ul><li>Happy World Pasta Day! The observance is meant to highlight how pasta is a healthy, sustainable food.</li><li>Level up — it's Ciara's birthday. Katy Perry and Pablo Picasso were also born on this day.</li><li>Earnings today: IBM, Boeing, T-Mobile, Meta, Mattel, <a href="https://markets.businessinsider.com/earnings-calendar">and other companies</a>.</li></ul><h3>For your bookmarks</h3><h2>Trader Joe's frozen meals</h2><a href="https://www.insider.com/best-cheap-trader-joes-frozen-meals-2023-10"></a><div type="image" title="basket of trader joes frozen meals" height="975" width="1300" msid="104705813" hostid="261" sizebytes="204312"></div>Favorite frozen Trader Joe's meals — each under $6. The meals are a cheaper alternative to takeout. This reporter is particularly fond of the <a href="https://www.insider.com/best-cheap-trader-joes-frozen-meals-2023-10">mushroom ravioli and mini chicken tacos</a>.The Insider Today team: <a href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, senior editor and anchor, in New York City. <a href="https://www.businessinsider.com/author/diamond-naga-siu">Diamond Naga Siu</a>, senior reporter, in San Diego. <a href="https://www.businessinsider.com/author/hallam-bullock">Hallam Bullock</a>, editor, in London. <a href="https://www.businessinsider.com/author/lisa-ryan">Lisa Ryan</a>, executive editor, in New York.

Startup workers are on edge

<ul class="summary-list"><li>The startup founders are not all right.</li><li>They're experiencing "unprecedented levels of stress" as a funding shortfall threatens to pull startups under.</li></ul>A <a target="_blank" href="https://www.businessinsider.com/seed-startups-venture-capital-funding-rounds-decline-2023-9">funding logjam</a> at the early stages. A <a target="_blank" href="https://www.businessinsider.com/a-lackluster-return-for-tech-ipos-2023-9">shut window</a> for IPOs. Clients <a target="_blank" href="https://www.businessinsider.com/jack-altman-steps-down-ceo-cofounder-lattice-2023-12">ghosting</a> businesses. If the investor warnings are to be believed, struggling startups will face a <a target="_blank" href="https://www.businessinsider.com/failed-venture-capital-startups-burnt-27-billion-pitchbook-2023-12">bloodbath</a> this year as cash runs low and wary investors encourage founders to return the capital.Now, <a target="_blank" href="https://www.businessinsider.com/2024-tech-trends-predictions-top-vcs">investors are predicting</a> an epidemic of founder mental illness in Silicon Valley and beyond, the likes of which tech has never seen."Sadly, but not terribly surprisingly, it feels as though we are in the early stages of an unprecedented founder mental health crisis," said Brad Svrluga, a cofounder and general partner at Primary, which <a target="_blank" href="https://www.businessinsider.com/primary-vc-returns-new-york-startups-brad-svrluga-ben-sun-2022-8">invests in early-stage startups</a> based largely in New York City.The emotional burden entrepreneurs take on is well-known across startup land: the <a target="_blank" href="https://www.businessinsider.com/tech-leaders-carole-robin-2023-10">loneliness and self-doubt</a>, the sleepless nights and the cold sweats. But being <a target="_blank" href="https://www.businessinsider.com/startup-founders-surviving-vc-economy-funding-slowdown-2022-12">a founder in a tech downturn</a> is a more challenging game, says Svrluga, who began venture investing during the dot-com bubble in 2000. "It has made that lonely job even lonelier," he said.Founders are trying to save face for employees and investors while knotted up with the anxiety of a shortage of funding for startups. Companies like <a target="_blank" href="https://www.businessinsider.com/late-stage-startups-vc-lack-funding-forced-shut-down-2023-10">Convoy</a> and <a target="_blank" href="https://www.businessinsider.com/robot-pizza-startup-zume-shutting-down-raised-500-million-softban-2023-6">Zume</a> have folded in the bust. Layoffs are rampant. And in an otherwise turbulent year, founders are also reeling from two years of <a target="_blank" href="https://www.businessinsider.com/2024-outlook-us-economy-stock-market-jobs-inflation-interest-rates-2023-11">tough economic conditions</a>, four years of largely remote work, wars, and a presidential election cycle.Svrluga shared that he's had multiple conversations with founders who divulged to him that they'd had anxiety attacks."We are seeing founders — who under the best of times walk that delicate line between the possible and the impossible — experiencing unprecedented levels of stress," Svrluga said. "As capital markets likely fail to improve in 2024, I fear these pressures will only multiply." Jennifer Wolf, managing partner at Initialized Capital, echoed those fears. "Runways for many startups will run out, companies will wind down, and even with new opportunities that arise, founders will have many points of stress as they go through changes. It's easy to get overwhelmed, which can lead to negative behaviors like ignoring problems and pretending they will go away," she said.Which begs the question: Will more investors rise to the occasion in support of founders or look away?<h2>'It's like don't ask, don't tell'</h2>The experience of being a haggard founder is widely shared, and still <a target="_blank" href="https://www.businessinsider.com/startup-founders-mental-health-stress-economy-funding-2022-7">many suffer in silence.</a> Founders worry that talking openly about their mental health could shred their credibility with their team or board. Investors might see their mental health struggles as a weakness and seek to replace them. So some founders hide behind a steely, hard-driving exterior. Many tell their secret only to other founders or <a target="_blank" href="https://www.businessinsider.com/confessions-of-a-startup-founder-wife-marriage-tiktok-games-2023-11">their spouses</a>.Josh Felser, an outspoken early-stage investor and activist, previously told Business Insider, "The majority of VCs don't want to hear about a founder's mental health. It's like don't ask, don't tell."The good news is that speaking about mental health and working through ways to address it isn't as taboo as it once was. And investors are offering ways to help.More investors have spun up programs to address founder mental health and burnout in recent years. <a target="_blank" href="https://www.felicis.com/founder-pledge">Felicis Ventures</a> and <a target="_blank" href="https://www.businessinsider.com/alexis-ohanian-new-fund-seven-seven-six-hires-katelin-holloway-2020-10">Seven Seven Six</a> commit 1% on top of every new investment for founders to subsidize services like coaching and therapy. The Grand, a startup that provides <a target="_blank" href="https://www.businessinsider.com/the-grand-pitch-deck-seed-round-group-coaching-nba-2023-10">group coaching as a service</a>, told Business Insider one of the fast-growing segments of the business is coaching for founders, now that venture firms such as First Round, Redpoint, Forerunner, and Freestyle offer it as a perk to entrepreneurs.For Primary, it's an opportunity to dog food one of its investments. In 2018, it backed <a target="_blank" href="https://www.businessinsider.com/hr-leaders-helping-companies-and-employees-with-dei-mental-health-2023-4#danielle-poonoosamy-the-director-of-people-and-culture-at-alma-12">Alma</a>, a company that helps therapy-seekers find in-network care and offers therapists tools to manage their practice and payer relationships. Now, Rebecca Price, a Primary partner who leads on all people and culture matters, is working with the Alma team on a series of intimate sessions with portfolio founders, facilitated by skilled clinicians, to dig into the <a target="_blank" href="https://www.businessinsider.com/how-to-deal-with-stress-burnout-work-mental-health-professional-2023-11">topic of burnout</a>."We want to normalize the concept," Svrluga said.Wolf from Initialized predicts a rise in mental health benefits for founders "as more prepare for hardships and changes ahead." Her firm has regular office hours with the founders in their portfolio, giving them a chance to talk through any of their business or life stressors and ensuring they take care of themselves. Initialized has also recommended Torch, one of its portfolio companies that provides executive coaching, to some of its founders."We coach founders to build resilience for hard times and address problems head-on," she said, "but in order to do that, founders need to take care of their mental health and build in the support they need."

Startup founders will face an 'unprecedented' crisis of mental health this year, VCs predict

<ul class="summary-list"><li>One Arizona man was tired of taking the trash out from the house to the curb.</li><li>He started Can Monkey, which appeals to Airbnb hosts wanting to spare guests from checkout chores. </li></ul>Marc Zagoury was sick of forgetting to put his trash on the curb and bickering with family over whose turn it was to take out the bins.Zagoury, who lived in Scottsdale, Arizona, outside Phoenix, discovered his neighbors were similarly fed up with the chore.In 2018, he founded a startup called Can Monkey, which allows homeowners or property managers to outsource a simple task: wheeling out full cans for pickup on the correct day, and then taking them back inside when empty.Can Monkey initially served about 100 properties in the Scottsdale area. Then, in 2019, Zagoury's cofounder Alex Shapiro overheard a friend who ran an Airbnb complain about the logistics of taking out the trash at three different properties."I'd pay someone $100 a month to take care of it for me," the friend said, according to Shapiro.Today, Can Monkey takes out the trash for more than 7,000 properties in 18 cities from Miami to San Diego. The company estimates that over 80% of the homes are Airbnbs or other short-term rentals.Some Airbnb guests have protested loudly that <a target="_blank" href="https://www.businessinsider.com/travelers-slam-airbnb-chore-lists-mow-lawn-laundry-cleaning-fees-2022-9">cleaning fees are too high and the chores</a> some hosts request upon checkout are too onerous. Some hosts have responded to the criticisms by <a target="_blank" href="https://www.businessinsider.com/airbnb-cleaning-fees-added-total-price-search-results-after-complaints-2022-11">getting rid of cleaning fees</a> and <a target="_blank" href="https://www.businessinsider.com/airbnb-host-does-not-make-guests-do-chores-gets-bookings-2023-11">chores</a>. Can Monkey's offer to take out the trash so that guests and hosts don't have to especially helps people who may manage their rental properties from afar or as a side hustle to their day jobs. For $49 a month, it's one less stressor for short-term rental property owners or managers <a target="_blank" href="https://www.businessinsider.com/airbnb-vrbo-summer-headaches-of-hosting-worth-it-2023-8">in an increasingly competitive business.</a>Shapiro said hosts have called Can Monkey's services a "godsend.""The two biggest issues for guests are 'What's the Wi-Fi password?' and 'When do we take out the trash?'" Shapiro told Business Insider. "We're able to take away one of those main issues."<h2>Can Monkey works like DoorDash for trash</h2><div type="image" title="A Can Monkey runner walks an empty trash bin back up the driveway" height="179" width="320" msid="106599688" hostid="261" sizebytes="7686"></div>For $49 a month, Can Monkey customers are guaranteed to have their bins picked up and returned on time and in accordance with local schedules.Users download the Can Monkey app and can write in custom instructions for their trash taker-outer, called a runner. The company currently has 500 active runners.Runners function much like Doordash, Uber Eats, or Grubhub drivers, Shapiro said. They log into the app whenever they want to pick up some hours, and Can Monkey presents them with a route that, for example, will take an hour to complete and pay out $40. Runners can choose to do as many routes as they want in their area.Shapiro said many drivers pick up Can Monkey routes during off-hours from their other gig-worker jobs. Take noon to 4 p.m., when lunchtime food deliveries wind down but rush hour for rideshares hasn't started.<h2>Finding Airbnb-host customers on Facebook</h2><div type="image" title="A Can Monkey branded trash bin" height="211" width="320" msid="106599689" hostid="261" sizebytes="7632"></div>Can Monkey has found customers by starting Facebook groups for Airbnb hosts and owners. Members use the forums to seek advice, like how to find good cleaning services, or share problems, like how to deal with a guest who damages property.Shapiro said he used to get kicked out of other Facebook groups for Airbnb hosts because he posted about Can Monkey, so he started his own. Now, one of the groups has grown to over 12,000 members.Since its founding, Can Monkey has expanded into 18 different markets including Miami, Austin, Denver, and San Diego. Shapiro says its busiest markets are its original base of Scottsdale and Orlando, which both attract travelers year-round.It's been a learning curve handling the large trash pickups generated by bachelor and bachelorette parties in Nashville, Shapiro added.Can Monkey runners have seen guests throw out brand-new suitcases, expensive pool floats, and barely-used elaborate party decorations, he said."There could be a whole other business buying and reselling the stuff guests leave behind in Airbnbs," Shapiro said.

Airbnb hosts are happily paying this startup $49 a month to take out the trash       

<ul class="summary-list"><li>Instacart confirmed on Sunday it was using AI-generated imagery and recipes.</li><li>The results were very weird: Chickens were conjoined, hot dogs looked like tomatoes, and more.</li></ul>Instacart scrubbed some AI-generated food images after <a target="_blank" href="https://www.businessinsider.com/instacart-ai-art-recipes-photos-2024-1">a Business Insider article on the delivery company's use of AI</a>. The images began raising eyebrows on the Instacart subreddit in early January, when <a target="_blank" href="https://www.reddit.com/r/instacart/comments/1acd3f2/instacart_is_using_poorlymade_aigenerated_photos/">users started to compile their favorite absurdities</a>.The AI images featured physically impossible compositions, unnatural shadows, and strangely blended textures. For instance, pictures accompanying a recipe for "Chicken Inasal" showed two chickens conjoined at the shoulder, while the "Hot Dog Stir Fry" photo showed a slice of hot dog with the interior texture of a tomato.<div type="image" title="Side by side of two gross food pics probably made by a machine" height="1500" width="3000" msid="107303717" hostid="261"></div>All of the recipes highlighted in the earlier BI article appear to have been taken down from the Instacart website. Other recipes discovered by Reddit users, meanwhile, had the AI-generated images replaced with what appears to be stock photography. (Take for instance, an AI-generated photo for "Simple Steamed Broccoli Crowns" which attempted to <a target="_blank" href="https://preview.redd.it/xfz4vvlxi6fc1.jpg?width=640&amp;crop=smart&amp;auto=webp&amp;s=824571f8b526172b637f8e97daee8793a65a3cad">put notched crowns in the stems of broccoli</a>, and is now replaced by <a target="_blank" href="https://affiliate.insider.com?h=0f986f0efcab6b5ed84498b4070a6dca142fdc611bf866cb5224fa7ae36770a0&amp;postID=65baa798ecccec8902841c26&amp;postSlug=instacart-deletes-ai-generated-food-images-2024-1&amp;site=bi&amp;u=https%3A%2F%2Fwww.instacart.com%2Fstore%2Frecipes%2F335301-simple-steamed-broccoli-crowns">a generic image of cooked broccoli</a>.)Some AI-generated imagery was still live on Instacart's site as of Wednesday. The recipe for "Cheddar and Cream Cheese Sauce for Mac and Cheese" for instance, appears to be AI-generated, with a bizarre plating scheme, overly uniform lighting, and a pasta shape previously unknown to human cooks.<div type="image" title="What appears to be an AI-generated picture from Instacart's website." height="900" width="1200" msid="107303718" hostid="261"></div>Instacart publicly discloses that the photos and accompanying recipes were generated by AI, emphasizing that user discretion is advised.On Sunday, an Instacart spokesperson confirmed that imagery was AI-generated, adding that the company was "optimizing for the best user experience" to align with consumer expectations as generative AI technology matures.An Instacart spokesperson said generative AI is new, and the company continuously works to improve its product. "When we receive reports of AI-generated content that does not deliver a high-quality consumer experience, our team reviews the content and may remove it," they said in a comment given after publicationAI-generated food images have been employed elsewhere for online ordering. A startup is <a target="_blank" href="https://www.businessinsider.com/openai-and-foodtech-startup-create-restaurant-menu-image-generator-2023-2">using text-to-photo technology to create AI imagery</a> based just on menu descriptions to help restaurants build out online menus without paying for photography. More recently, users found what appeared to be <a target="_blank" href="https://www.insidehook.com/internet/did-uber-eats-use-ai-generated-food-photos">AI-generated imagery on Uber Eats</a> where the AI seemingly failed to realize a pizzeria offering a "medium whole pie" meant a pizza, not a sweet dessert.A June 2023 survey of 301 consumers showed respondents felt generative AI imagery <a target="_blank" href="https://conjointly.com/blog/generative-ai-in-marketing/">was aesthetically pleasing but untrustworthy</a>. For now, AI-generated images remain relatively easy to detect with the human eye. But as generative AI models rapidly improve and companies strive to bring down costs, the point rapidly approaches when they won't be. January 31, 2024, 5:00 pm ET: The story has been updated with comment from Instacart.

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