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<ul class="summary-list"><li>OnlyFans is an astonishingly big, and astonishingly profitable business.</li><li>That's because it combines two longtime internet staples: porn and user-generated content.</li></ul>You have probably heard of OnlyFans, the not-just-porn-but-definitely-a-lot-of-porn site. You may also know that <a target="_blank" href="https://www.businessinsider.com/onlyfans-users-annual-earnings-creators-2023-spend-2024-9">OnlyFans is a big business</a>.But you may still be shocked to see just how big a business OnlyFans has become: Last year, the company <a target="_blank" class="" href="https://find-and-update.company-information.service.gov.uk/company/10354575/filing-history">posted</a> operating <a target="_blank" class="" href="https://www.businessinsider.com/onlyfans-owner-made-472-million-profits-boomed-2024-9">profits</a> of $650 million, on revenue of $1.3 billion.Maybe I'm missing something, but from what I can see, that makes OnlyFans the biggest and most profitable (mostly) porn operation in the world.<a target="_blank" class="" href="https://www.businessinsider.com/pornhubs-new-owner-wont-reveal-mindgeek-bosses-names-due-stigma-2023-3">MindGeek</a>, for instance, the holding company that operates porn sites like PornHub and Brazzers, <a target="_blank" class="" href="https://www.semafor.com/article/07/27/2023/inside-pornhubs-finances">looks to be about half its size</a>. Playboy, once the leading brand in porn, has just barely survived the internet era and is now <a target="_blank" href="https://finance.yahoo.com/quote/PLBY/">just a fraction of OnlyFans' size</a>.Not only that, but OnlyFans is simply an astonishing internet business, compared to other mega-successful internet businesses. Last year the company posted a 50% operating profit margin. <a target="_blank" class="" href="https://www.businessinsider.com/meta">Meta</a> (<a target="_blank" href="https://investor.fb.com/investor-news/press-release-details/2024/Meta-Reports-Fourth-Quarter-and-Full-Year-2023-Results-Initiates-Quarterly-Dividend/default.aspx">35%</a>) and Google (<a target="_blank" href="https://abc.xyz/assets/43/44/675b83d7455885c4615d848d52a4/goog-10-k-2023.pdf">27%</a>) would love to have numbers like that. Snap has <a target="_blank" href="https://investor.snap.com/news/news-details/2024/Snap-Inc.-Announces-Fourth-Quarter-and-Full-Year-2023-Financial-Results/default.aspx">no operating profit</a> at all. And while we don't know if <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">Elon Musk</a> has managed to generate a profit at Twitter/X after laying off the majority of his employees, his <a target="_blank" href="https://www.businessinsider.com/elon-musk-advertisers-cannes-speech-tweets-twitter-x-peter-kafka-2024-6">disappearing ad revenue</a> would make it quite hard to pull that off.And the thing is, there's no secret to what OnlyFans has done: It has connected one of the internet's favorite things (porn), with one of its favorite content strategies (getting users to create all of its content, for free), and one of its favorite monetization strategies (payments and subscriptions).In other words: OnlyFans works by getting its <a target="_blank" href="https://www.businessinsider.com/how-to-make-money-on-onlyfans-according-to-creators-2022-2">4 million creators to sell a variety of products </a>— some combination of videos, photos, and private messages — to some 300 million recurring users, who pay one-time fees or a recurring subscription to consume that stuff. Then OnlyFans takes a 20% cut.That's a super-simple, super-lucrative model. And it's way better than traditional porn companies, which have to pay people upfront to make videos. And at least for now, it has a lot of advantages over traditional user-generated content plays like <a target="_blank" class="" href="https://www.businessinsider.com/youtube-ad-revenue-user-base-viewership-dominates-tv-2024-6">YouTube</a> or Instagram, which rely on the more fickle whims of the ad business.So you can see why Twitter was <a target="_blank" href="https://www.theverge.com/23327809/twitter-onlyfans-child-sexual-content-problem-elon-musk?scrolla=5eb6d68b7fedc32c19ef33b4">looking</a> at an OnlyFans clone before Elon Musk bought the company. And why people think Musk might still try to <a target="_blank" href="https://www.fastcompany.com/91141577/is-x-trying-to-compete-with-onlyfans">build something similar</a>.OnlyFans isn't a flaw-free business. Banks and credit card companies can be skittish about working with its <a target="_blank" href="https://finance.yahoo.com/news/banks-often-reject-onlyfans-creators-130144791.html">customers and creators</a>. Would-be investors have also <a target="_blank" href="https://www.axios.com/2021/08/19/onlyfans-investors-struggle">had qualms</a>. Porn sites are magnets for <a target="_blank" class="" href="https://www.businessinsider.com/doj-approved-watchdog-begins-policing-pornhub-2024-8">human traffickers</a>, though OnlyFans <a target="_blank" href="https://onlyfans.com/transparency-center/preventing">says</a> it tries to fight that. And some people simply don't want to have anything to do with porn, which is one reason OnlyFans doesn't have apps on Apple and Google's platforms (on the flip side, that means it doesn't have to give either company a cut of its sales).Still: Porn has been on the internet from the very start. User-generated content plays have been around for a couple of decades. It's kind of wild that no one figured out how to combine the two until a few years ago.And now that everyone can see how lucrative this marriage is, expect to see more of them.

OnlyFans figured out the best porn business on the internet

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Happy Friday! The hottest company in commodities is … Costco? Building off the success of its gold bars and silver coins, the retailer started <a target="_blank" href="https://markets.businessinsider.com/news/commodities/costco-starts-selling-platinum-bars-gold-silver-retail-success-2024-10">selling 1-ounce platinum bars online for $1,090</a>.In today's big story, Google Search is going to look <a target="_blank" href="https://www.businessinsider.com/google-search-lens-ai-gemini-overviews-new-features-2024-10">a whole lot different thanks to generative AI</a>.What's on deck:<ul><li>Markets: Americans just got the legal green light <a target="_blank" href="https://markets.businessinsider.com/news/stocks/betting-us-election-cftc-kalshi-legal-battle-prediction-market-2024-10">to bet on November's election</a>.</li><li>Tech: Morgan Stanley has some brutal projections for <a target="_blank" href="https://www.businessinsider.com/amazon-could-cut-managers-save-3-billion-analysts-2024-10">Amazon managers</a>.</li><li>Business: The port strike is over — <a target="_blank" rel="noopener" href="https://www.businessinsider.com/striking-dockworkers-return-to-work-amid-ongoing-negotiations-cnn-2024-10">for now</a>.</li></ul>But first, Search will never be the same (again).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">Searching for a new look</h2><div type="image" title="An eye with the Google logo in the iris" height="1500" width="2000" msid="113943306" hostid="261" sizebytes="452180"></div>One down. One to go.The internet's most popular tool is getting a facelift thanks to AI.Google is rolling out a series of <a target="_blank" href="https://www.businessinsider.com/google-search-lens-ai-gemini-overviews-new-features-2024-10">generative AI-powered changes to Search</a>, writes Business Insider's Hugh Langley. It shows Big Tech's continued push to leverage AI wherever possible, and the constant evolution of how people consume the internet.The biggest adjustment is to Search's layout, Hugh writes. That includes AI organizing page results into different categories, and highlighting different videos, forum links, and widgets. Goodbye, pages of blue links.According to Rhiannon Bell, the vice president of user experience for Google Search, it's a "pretty dramatic shift from where we were before."There are still a lot of caveats to the rollout — it'll only activate for recipe-related questions initially and will be featured just on mobile — but it's clearly the direction Google is taking its all-powerful tool.And yes, in case you were wondering if it was coming, Google is going to start putting ads in its AI Search results — but only when Google deems them relevant.<div type="image" title="Google's new AI-organized search results" height="566" width="872" msid="113943302" hostid="261" sizebytes="48342"></div>Search's revamp addresses a big concern for the rest of the internet.Google will include hyperlinks directly into AI Overview results, which means more traffic for websites it's sourcing information from, it says.During the initial rollout of AI Overview, a major concern was whether it marked the end of the firehose of traffic Search sends websites. Why bother going to a site if I can get the answer directly from Search?But there's a bigger question of whether people want to get to the source at all.Gen Z, which was raised on curation and aggregation, has fully bought into just getting the highlights. When it comes to a video or a story, they're heading <a target="_blank" href="https://www.businessinsider.com/gen-z-most-trusted-news-source-online-comment-sections-google-2024-6">straight to the comments to get the tea</a>.Google probably doesn't mind you staying only on its site. Remember: "<a target="_blank" href="https://www.businessinsider.com/google-search-ai-announcement-gemini-io-event-2024-5">Google will do the Googling for you</a>." And it's not wrong. One survey conducted earlier this year found 60% of people who used Google's AI search <a target="_blank" href="https://www.businessinsider.com/google-ai-search-popular-among-users-analysts-2024-6">found it more effective</a> than non-AI powered Search. (To be sure, <a target="_blank" href="https://www.businessinsider.com/search-web-email-google-streaming-online-shopping-broken-2022-4">the bar wasn't that high</a>.)But putting our faith in the robots to find the nuance in things comes with risks. I don't know about you, but I don't plan on <a target="_blank" href="https://www.businessinsider.com/google-ai-glue-pizza-i-tried-it-2024-5">adding glue to my pizza</a> anytime soon.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li>Wider Middle East conflict <a target="_blank" rel="noopener" href="https://www.businessinsider.com/global-economy-israel-iran-war-oil-growth-inflation-hurricane-china-2024-10">threatens the global economy</a> — when the US and China already face headwinds, experts say.</li><li>The most valuable programming on TV is for sale. <a target="_blank" href="https://www.businessinsider.com/nfl-network-sale-paramount-youtube-espn-2024-10">Why hasn't anyone bought it</a>?</li><li>There's a catch in OpenAI's $6.6 billion funding deal that <a target="_blank" href="https://www.businessinsider.com/openai-deadline-to-become-for-profit-or-return-investor-money-2024-10">no one is talking about</a>.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="The Wall Street bull with a stock market chart in the background" height="1000" width="2000" msid="113943299" hostid="261" sizebytes="220198"></div><ol><li>Three magic factors to keep the bull rally alive. The two-year-old bull run in stocks could last another year if these three positive catalysts fall into place, strategists at Ned Davis Research said. Continued cooling inflation is one of three factors that <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-sp500-bull-rally-fed-rate-cuts-recession-2024-10">could boost stocks 13% in the coming year</a>.</li><li>Rise and shine, Apollo employees. There's work to be done. The PE giant wants to double its assets under management in five years. To get there, the firm has some unique management tactics like <a target="_blank" href="https://www.businessinsider.com/apollo-ceo-marc-rowan-management-tactics-430-am-wakeup-call-2024-10">4:30 a.m. wake-up calls and free frozen yogurt</a>.</li><li>You can now put your money where your mouth is when it comes to November's election. Prediction market Kalshi won its legal fight with the CFTC to allow <a target="_blank" href="https://markets.businessinsider.com/news/stocks/betting-us-election-cftc-kalshi-legal-battle-prediction-market-2024-10">Americans to bet on the outcome of US elections</a>. The regulator argued allowing betting would "threaten election integrity."</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="Amazon CEO Andy Jassy" height="1000" width="2000" msid="113943289" hostid="261" sizebytes="270488"></div><ol><li>Morgan Stanley projects Amazon will cut 14,000 managers. The bank's estimate, which it says <a target="_blank" href="https://www.businessinsider.com/amazon-could-cut-managers-save-3-billion-analysts-2024-10">will save the e-commerce giant $3 billion a year</a>, comes after CEO Andy Jassy said he wanted to address bureaucratic bloat. While Amazon didn't directly address the note, it said it "added a lot of managers" in recent years and that "now is the right time" to make a change.</li><li>Is the AI industry winner-takes-all or a race to the bottom? Famed investor Marc Andreessen posed the question at an AI conference in San Francisco this week. OpenAI's chief product officer rose to answer it, and (spoiler!) <a target="_blank" href="https://www.businessinsider.com/openai-rice-google-marc-andreessen-kevin-weil-2024-10">he's not worried about the tech's future</a>. In the meantime, one investor put a figure on the potential size of the AI market: <a target="_blank" href="https://www.businessinsider.com/ai-value-estimate-20-trillion-tech-wave">$20 trillion</a>.</li><li>MrBeast is now the proud owner of "LinkedIn for influencers." <a target="_blank" href="https://www.businessinsider.com/mrbeast-acquires-startup-vouch-linkedin-creator-job-board-site-platform-2024-10">The YouTube star recently acquired Vouch</a>, a social media app that assists those in the creator economy in hiring and job postings. It's the latest addition to his business-venture portfolio.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="Photo collage of Man drinking from two canned cocktails with mini umbrellas" height="1500" width="2000" msid="113943296" hostid="261" sizebytes="156996"></div><ol><li>America's getting hammered on hard seltzers. Canned alcoholic drinks were supposed to be the healthy alternative to beer: They have a beer-ish alcohol content, but a much softer impact on your gut. But now people are turning to canned margaritas and 12% ABV Cutwater spirits that leave them with <a target="_blank" href="https://www.businessinsider.com/hard-seltzer-canned-cocktail-high-abv-beer-alcohol-drinks-2024-10">more than just a light buzz</a>.</li><li>More than 45,000 port workers are suspending their strike. The strike, which threatened to snarl everything from holiday shopping to auto production lines, <a target="_blank" rel="noopener" href="https://www.businessinsider.com/striking-dockworkers-return-to-work-amid-ongoing-negotiations-cnn-2024-10">was suspended until January</a> after employers and striking dockworkers reached a tentative agreement on wages.</li><li>Office meltdown who? Though office vacancy is still high, there's a shortage of high-end, newly built space that developers are rushing to fill. America's white collar workers are still enamored with remote and hybrid work — but the data predict <a target="_blank" href="https://www.businessinsider.com/office-construction-demand-upcoming-shortage-real-estate-2024-10">an office rebound on the horizon</a>. (But one iconic NYC building <a target="_blank" href="https://www.businessinsider.com/chrysler-building-new-york-skyline-office-commercial-real-estate-collapse-2024-10">hasn't been so lucky</a>.)</li></ol><h2 id="1ad7b482-3f4b-44b4-81b6-a864aa386478">In other news</h2><ul><li>Starbucks' mobile orders are a <a target="_blank" rel="noopener" href="Starbucks' mobile orders are a challenge for its new CEO">challenge for its new CEO</a>.</li><li>OpenAI's investors include Silicon Valley's most prolific bubble-chasers. <a target="_blank" href="https://www.businessinsider.com/openai-investors-softbank-ark-tiger-global-2024-10">Is that a bad sign for the company's future</a>?</li><li>Amazon's Wondery is <a target="_blank" href="https://www.businessinsider.com/amazon-wondery-launches-toy-line-wow-in-the-world-2024-10">launching a new toy line</a> as it aims to build the next big franchises from podcasts.</li></ul><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>European Court of Justice rules on Meta's data privacy case, which could set limits on how tech companies use personal data in the EU.</li><li>US Department of Labor releases September employment data report.</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. Milan Sehmbi, fellow, in London. Amanda Yen, fellow, in New York.

Google Search's new AI makeover is the latest change the rest of the internet needs to navigate

<ul class="summary-list"><li>Kirat Assi shares her story of being catfished for eight years in Netflix's "Sweet Bobby: My Catfish Nightmare."</li><li>Assi thought she was dating a rich man named Bobby Jandu.</li></ul>Warning: Spoilers ahead for Netflix's "Sweet Bobby: My Catfish Nightmare" and Tortoise's podcast "Sweet Bobby."Netflix's "Sweet Bobby: My Catfish Nightmare" is the streaming service's latest <a target="_blank" class="" href="https://www.businessinsider.com/shows-like-inventing-anna-netflix-scammer-shows-to-watch-2022-3">scammer true crime</a> documentary, a genre that has been increasingly popular in recent years, with titles like "<a target="_blank" class="" href="https://www.businessinsider.com/tinder-swindler-fake-billionaire-scammed-women-dates-into-debt-documentary-2022-2">The Tinder Swindler</a>," "Bitconned," and "Bad Vegan" capturing the attention of the platform's <a target="_blank" class="" href="https://www.businessinsider.com/netflix-new-subscriber-numbers-beat-expectations-2024-10">hundreds of millions of subscribers</a> worldwide.The documentary, as well as the hit Tortoise Media podcast of the same name, follows <a target="_blank" class="" href="https://www.businessinsider.com/netflix-sweet-bobby-what-kirat-assi-thinks-motivated-catfisher-2024-10">Kirat Assi</a>, a radio presenter in London who describes how she began an online friendship with Bobby Jandu, a wealthy man she met in 2010 through Facebook.Over the next eight years, their friendship turned into a romantic relationship: she met his family through social media, and the couple got engaged without ever meeting in real life. But in 2018, Assi discovered she had been deceived when she tracked down the real Bobby Jandu, who was living in Brighton with his wife and child and had no idea who Assi was.Ultimately, after the confrontation, Simran Bhogal, a relative of Assi's, came to her house to confess that she had created fake Facebook accounts for Jandu and his family and had been messaging her on all of them.The documentary features interviews with Assi, the real Jandu, and his wife, Sanj Jandu, but Bhogal never appears. Instead, an actor portrays Bhogal in pictures.A title card at the end of the documentary says Bhogal declined to be interviewed. "This matter involves events that began when she was a schoolgirl," it reads. "She considers it a private matter and strongly objects to what she describes as 'numerous unfounded' and damaging accusations."The documentary does not provide any other information indicating where Bhogal is now. Here's what else we could find out about her.<h2 id="f4347dae-01ff-4023-a820-3675e9935e95">Simran Bhogal seems to have scrubbed her online presence</h2><div type="image" title="A composite of stills from Netflix's &quot;Sweet Bobby: My Catfish Nightmare&quot; featuring a south Asian man wearing a blue shirt and a black turban, and a south Asian woman in a green silk shirt." height="1080" width="1440" msid="114438598" hostid="261" sizebytes="33404"></div>Business Insider could not find Bhogal's current Facebook or LinkedIn accounts, if they indeed still exist. Assi has also hidden her friends list on Facebook and has hidden or deleted all of her posts from 2009 to 2018.In the documentary, Assi said that Bhogal deleted all the fake accounts.<a target="_blank" class="" href="https://www.tortoisemedia.com/listen/sweet-bobby/">Tortoise's 2021 podcast series</a> "Sweet Bobby," also about Assi's catfishing case, provides the most information about Bhogal's life.The <a target="_blank" class="" href="https://www.businessinsider.com/riveting-true-crime-podcasts-that-highlight-unsolved-cases-2023-5">podcast</a> reported that Bhogal was about 18 when she began catfishing Assi as Bobby Jandu.In episode four, host Alexi Mostrous said Bhogal lived 20 minutes from Assi's home in West London when they recorded the podcast in 2021. In episode five, Mostrous said Bhogal worked at a well-known British bank and was promoted to vice president in 2018.That bank is rumored to be <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/banking/barclays-bank-review">Barclays</a>, but this has not been verified. In 2018, a recruitment company called Talent Ticker posted on X that a person named Simran Bhogal was promoted to Vice President, COO &amp; finance business partner at Barclays. A representative for Barclays did not immediately respond to Business Insider's request for comment.In episode six, Mostrous said that Bhogal had left the job in 2021, though he did not know the reason why.<a target="_blank" class="" href="https://www.businessinsider.com/netflix-sweet-bobby-kirat-assi-get-justice-after-catfished-2024-10">London's Metropolitan police</a> is still investigating the case, and Assi sued Bhogal in 2020. They settled in 2021, which included a payout to Assi and an apology letter, which Assi could only show to a limited number of people.

Simran Bhogal, the catfisher behind Netflix's 'Sweet Bobby,' has managed to completely scrub herself from the internet

<ul><li>The government has warned about a new way <keyword id="19962622" type="General" weightage="20" keywordseo="scammers" source="keywords">scammers</keyword> are trying to obtain <keyword id="20189059" type="General" weightage="20" keywordseo="personal-information" source="keywords">personal information</keyword>.</li><li>Users have reportedly received an SMS asking them to update their PAN to unblock their <keyword id="20417750" type="General" weightage="20" keywordseo="bank-account" source="keywords">bank account</keyword>.</li><li>Here's everything you need to know about the <keyword id="22918614" type="General" weightage="100" keywordseo="fake-PAN-SMS" source="keywords">fake PAN SMS</keyword> and how to stay safe.</li></ul>Increased usage of the internet has also resulted in an increase in <keyword id="20025584" type="General" weightage="20" keywordseo="online-fraud" source="keywords">online fraud</keyword>. Scammers are finding new ways to fool people and steal from them. A new method has now been revealed, which preys on users with an account in <keyword id="19985316" type="General" weightage="20" keywordseo="India-Post-Payments-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="India Post Payments Bank" meta.hostid="261" meta.entityid="India Post Payments Bank">India Post Payments Bank</keyword>. According to a post by PIB Fact Check, several users have received an SMS which claims to be from India Post Payments Bank. However, the message is fake and is an attempt to steal user data. “This claim is #Fake. @IndiaPostOffice never sends any such messages. Never share your personal &amp; bank details with anyone,” PIB Fact Check said in its post on X. <div type="twitter" handle="PIBFactCheck" handlename="PIBFactCheck" favoritecount="0" retweetcount="0" id="1825494609881170290"></div> <h2>What is the fake PAN SMS?</h2> In the SMS, the user is warned that their India Post Payments Bank account has been blocked. It then asks the users to update their PAN to get their account unblocked. The user is then given a link, asking them to click on the link to update their PAN. <div type="Article" hostid="261" msid="111512587" title="Jio vs Airtel vs Vi recharge plans comparison – plan benefits and price comparison after tariff hike" mstype="2" mssubtype="0"></div> The link then redirects the user to a <keyword id="20182216" type="General" weightage="20" keywordseo="phishing" source="keywords">phishing</keyword> page, aimed at stealing user data such as their bank account login details to gain access to their account. Once you enter your bank account login details, they will be sent to the scammer. <h2>What is phishing?</h2>Phishing is a cyber-attack where attackers impersonate legitimate organisations or individuals to trick people into revealing sensitive information like passwords or credit card details. This is usually done through deceptive emails, messages, or fake websites. <h2>How to stay safe from phishing attacks?</h2>Here are some ways you can identify phishing attacks and stay safe: <ul><li>Verify the sender: Check the sender’s email address or phone number carefully. Phishers often use addresses that look similar to legitimate ones but have small differences.</li><li>Look for red flags: Be wary of unexpected messages, especially those requesting sensitive information or containing urgent or threatening language.</li><li>Verify before opening: Only open attachments from trusted sources. Phishing emails often contain malware disguised as legitimate files.</li><li>Add two-factor authentication: Enable two-factor authentication on your accounts. This adds an additional layer of security even if your password is compromised.</li><li>Contact directly: If you receive a request for sensitive information, verify the request by contacting the organisation directly through known and trusted channels.</li><li>Report phishing attempts: Report phishing emails to your email provider or the relevant authorities. This helps in tracking and stopping phishing schemes.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/tech/how-to/how-to-add-music-to-instagram-profile/articleshow/112732934.cms">You can now add music to your Instagram profile – here's how</a> <a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms">2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-z9s-pro-vs-moto-edge-50-fusion-which-is-the-best-smartphone-under-25000/slidelist/112703633.cms">iQOO Z9s Pro vs Moto Edge 50 Fusion – which is the best smartphone under ₹25,000?</a>

Govt warns about fake SMS asking users to update their PAN – what it is and how to stay safe

<ul class="summary-list"><li>The AI boom is still in its infancy, following the path of the internet in the 1990s, BofA said.</li><li>AI's impact will be felt sooner than past tech booms, the bank says.</li></ul>Bank of America says the artificial intelligence boom is in its early stages and it following the trajectory of the internet in the 1990s. The bank's view comes as AI skepticism has been mounting after a long run of investors pouring money into the trade as they hope to see companies reap the efficiency and productivity gains promised by the technology. "Skeptics declare that GenAI's revenue potential doesn't justify the current level of AI infrastructure investment," the report says."But remember that far more significant than the internet's initial consumer use cases were the thousands of use cases and companies that emerged because of the internet," the report adds.The report from the bank, released Thursday, draws on a survey of equity analysts and macro strategists across more than 3,000 companies.Those strategists say AI is the third major tech cycle in the past 50 years, and it started with the launch of ChatGPT in November 2022. AI follows the innovation waves of personal computing in 1981 and the internet in 1994.But unlike those tech booms, which took 15-30 years to reach mainstream adoption, AI's impact will likely materialize sooner, the report says."GenAI may catalyze a technological evolution that disrupts every sector and transforms the global economy over the next five to 10 years," the report says.Yet, investors are underestimating the long-term impact of the technology—and overestimating its near-term potential—which is typical of tech booms, the report says."AI capex could reach $1 trillion+ over the next several years, but we're only in 1996 relative to the internet," the report says.It adds that the current level of investment in companies like OpenAI, Anthropic, and Inflection AI is merely a prerequisite for making GenAI apps, which are largely still in beta and will take time to develop and grow.The strategists forecast AI will drive margin expansion for a majority of industry groups. Semis and software will see particularly large gains, with around 4.8% and 5.2% margin growth in the next five years, respectively.The report comes amid mounting skepticism around AI as investors have yet to see meaningful returns on huge investments into the tech by companies.On Tuesday, Morgan Stanley chief US equity strategist Mike Wilson said the AI investment theme has been <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/ai-stocks-overcooked-nvidia-seminconductors-morgan-stanley-mike-wilson-2024-9">"overcooked,"</a> and suggested investors should retreat into defensive stocks.

'We're only in '1996': Why the AI boom is still in its earliest days, according to Bank of America

Discussions around <keyword id="19901232" type="General" weightage="20" keywordseo="work-life-balance" source="keywords">work-life balance</keyword> have been around since forever and when <keyword id="20231207" type="General" weightage="20" keywordseo="work-from-home" source="keywords">work from home</keyword> became a norm in 2020, these talks intensified. Soon, people across the globe realised how work from home could save a lot of time and money for them. As a result, they get to spend more time focusing on things apart from work. In India too, work-life balance has been a hot topic for a long time. Earlier this year, a study by the UKG Workforce Institute revealed that nearly 78% of employees in India suffer from job burnout, which often results in both physical and emotional fatigue. Around 64% of these workers were willing to reduce their workload even if it meant a corresponding pay cut. This highlighted a growing awareness among employees about the value of maintaining a <keyword id="22783879" type="General" weightage="20" keywordseo="healthy-work-life-balance" source="keywords">healthy work-life balance</keyword>, with many choosing to prioritize well-being over monetary benefits. <h2><keyword id="20830500" type="General" weightage="100" keywordseo="Bengaluru-man" source="keywords">Bengaluru man</keyword>'s photo goes viral</h2> Despite this, India was recently reported to rank 48th in the 2024 Global Life-Work Balance Index, reflecting the challenges faced by employees in maintaining a healthy work-life balance. And a Bengaluru man’s recent <keyword id="20384549" type="General" weightage="20" keywordseo="viral-photo" source="keywords">viral photo</keyword> has once again stirred work-life balance discussions in the country. A photograph of a man working on his laptop while standing outside a popular momo stall in Bengaluru took the internet by storm on Tuesday. The photo, shared by X user Kritika Kumari, quickly went viral, capturing the attention of many who found humour in the situation but also sparked deeper conversations about the pressures faced by <keyword id="21460912" type="General" weightage="20" keywordseo="corporate-employees" source="keywords">corporate employees</keyword>. Kumari captioned the photo, “His priorities are sorted.” The photo shows the techie engrossed in his laptop, seemingly unfazed by his surroundings. The post resonated with many, leading to a flood of comments that ranged from witty remarks to relatable anecdotes. <div type="image" title="Bengaluru man&amp;#39;s photo goes viral" msid="112516540" hostid="261" sizebytes="2145538" caption="&amp;lt;p&amp;gt;Bengaluru man&amp;#39;s photo goes viral&amp;lt;/p&amp;gt;"></div> <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px rgb(255, 255, 255); text-rendering: optimizelegibility;">Work-life balance in India a myth, says internet</h2>X users reacted to the photo and talked about the man's plight. One user humorously summed up the scene as, “Corporate employee,” while another quipped, “Pyaar se jyada, kaam pyara,” highlighting the often-overwhelming work demands that many in the <keyword id="19955787" type="General" weightage="20" keywordseo="tech-industry" source="keywords">tech industry</keyword> face. "The so-called "work-life" balance is a myth! It should really be called "hand-laptop" balance," another user wrote. <div type="twitter" handle="manojrmenon" handlename="manojrmenon" favoritecount="0" retweetcount="0" id="1823207147599184281"></div> The jokes didn’t stop there; some users playfully imagined the man’s predicament, suggesting that he might have forgotten his phone at the office and was now transferring money to the momo vendor via net banking on his laptop. While the image and its accompanying jokes provided light-hearted entertainment, they also highlighted the growing concern about the intense work culture in the tech sector, where employees often find themselves working outside traditional office hours and settings. As one user lamented, “Ek labor karega bhi kya? Apne ghar ja kar English jhaadega. ‘I am audible? My screen is visible or not?’ (What will a laborer do? He will go back home and flaunt his English, saying, ‘I am audible? Is my screen visible or not?’).”

'Work-life balance is a myth’: Photo of man working in front of momo stall goes viral, Internet reacts

<ul class="summary-list"><li>Jefferies hosted a conference to bring together late-stage tech founders, investors and bankers.</li><li>At the conference, there was talk of IPOs and M&amp;A being back.</li></ul>As bankers and venture capitalists nibbled on caviar sushi and sipped champagne and sake this week at Nobu Malibu, there was a gleeful mood at the beachside closing dinner of the Jefferies Private Internet Conference.IPOs and M&amp;As are finally back, and on top of that, there is an exciting new catalyst for rising tech valuations — generative AI."We surveyed a lot of the 140 entrepreneurs that are coming here and found 'IPO' is not a dirty word anymore," said Cameron Lester, Co-Head of Technology, Media and Telecom Investment Banking at Jefferies. "People are thinking maybe they will go public."After a Covid pause, Jefferies resumed this conference in 2022 to bring together late-stage tech founders, investors, and bankers. But there was not much to talk about in the way of actual deals. Now the logjam is finally breaking."We're as busy today as we were in 2021," said Jason Greenberg, Co-Head of Global Technology, Media, and Telecom Investment Banking at Jefferies."We ultimately succeed and get paid on the success of deals happening and closing. I don't think as many deals we're on today will turn into announced deals in 2024 or early 2025 compared to 2021. But even if they don't close at the same rate, you're going to see a market that was down 60% peak to trough recover a lot."AI is driving many of those deals, according to Greenberg; The theme of this year's conference was "In the Age of AI.""Beyond typical deal considerations, AI has emerged as the single biggest new influence today in tech M&amp;A," according to Greenberg.Reports that Salesforce <a target="_blank" href="https://markets.businessinsider.com/news/stocks/salesforce-s-strategic-and-financially-sound-acquisition-of-informatica-backed-by-analyst-s-buy-rating-1033255009">is in talks</a> to buy the $10 billion data management software firm Informatica is another sign dealmaking is back (though some people at the conference were skeptical the deal would ultimately go through).This week, there was also promising news that Goldman Sachs reported its investment banking division saw fees rise 32% in the first quarter thanks to strong underwriting and advisory work growth."It's clear that we're in the early stages of a reopening of the capital markets," said David Solomon, the bank's chairman and CEO, told investors.Reddit went public in March, though the stock is down from its opening price. <a target="_blank" href="https://www.businessinsider.com/the-11-startups-most-likely-to-ipo-in-2024-2024-3#epic-games-2">Other companies in the IPO pipeline include Databricks. Epic Games, and Getir.</a><div type="image" title="Marc Andreessen speaks at the Jefferies Private Internet Conference 2024" height="1391" width="2048" msid="109431736" hostid="261"></div>Aside from the lavish Nobu dinner, attendees at Jefferies also heard from Andreessen Horowitz cofounder Marc Andreessen and Anthropic's head of business development, Neerav Kingsland.Jefferies has significantly bulked up its tech investing division to better compete against more established players like Goldman and JP Morgan Chase."In the last 18 months, we've increased the number of MDs [managing directors] in our investment bank by 70%, which is kind of crazy given what's happened to our industry in terms of the decline over the past couple of years," Lester said.Now that deals are finally happening again, Lester is hoping the investment pays off."People don't typically choose a banker in a 30-day period," Lester said. "They choose it based on relationships built over a couple of years."

Caviar, champagne, and IPOs: At the Jefferies Private Internet Conference, tech dealmaking was back

<ul class="summary-list"><li>Jamie Dimon compared the potential impact of artificial intelligence to innovations like the internet.</li><li>He said JPMorgan Chase now has 2,000 AI experts working in areas such as fraud and risk.</li></ul><a target="_blank" href="https://www.businessinsider.com/jamie-dimon-career">Jamie Dimon</a> compared the potential impact of artificial intelligence to that of other innovations in history including the "printing press, the steam engine, electricity, computing and the internet."The CEO of JPMorgan Chase said in his annual <a target="_blank" href="https://reports.jpmorganchase.com/investor-relations/2023/ar-ceo-letters.htm">letter</a> to shareholders Monday that while the bank didn't yet know the full impact of AI on its business, he believes it will have "extraordinary" consequences."Since the firm first started using AI over a decade ago, and its first mention in my 2017 letter to shareholders, we have grown our AI organization materially. It now includes more than 2,000 AI/machine learning (ML) experts and data scientists," Dimon said in the letter.JPMorgan is using AI in more than 400 specific cases including marketing, fraud and risk. He said the bank's also exploring how generative AI can be applied to fields such as customer service and operations as well as software engineering.GenAI will "reimagine entire business workflows," Dimon said. "Over time, we anticipate that our use of AI has the potential to augment virtually every job, as well as impact our workforce composition. It may reduce certain job categories or roles, but it may create others as well."The bank has created a chief data and analytics officer role, who will report to Dimon and chief operating officer Daniel Pinto in a move Dimon thinks reflects "how seriously" it expects AI to influence operations.However, the CEO said AI risks needed to be "rigorously managed." JPMorgan Chase will worked with regulators, experts and clients to ensure it maintains ethical standards and to "counter bias," he added.

Jamie Dimon says AI will have 'extraordinary' consequences and may be as transformative as electricity and the internet 

New Delhi [India], March 20 (ANI): Payments through digital means in India are hitting fresh highs, as its citizens are increasingly adopting the emerging modes of transacting on the internet. In February, transactions worth Rs 18.2 lakh crore were made through Unified Payments Interface (<keyword id="19900911" type="General" weightage="20" keywordseo="upi" source="keywords">UPI</keyword>) with a staggering 122 crore number of transactions. The transactions made last month through the popular instant payment mechanism were a tad lower than in January, where the total value of transactions was Rs 18.4 lakh crore. The total number of transactions recorded in the month of January was 121 crore. Data maintained by the <keyword id="19907219" type="General" weightage="20" keywordseo="national-payments-corporation-of-india" source="keywords">National Payments Corporation of India</keyword> (NPCI) showed that an average of Rs 40,000-Rs 80,000 crore worth of UPI transactions are made in India on a daily basis. Coming to NEFT and RTGS, the two other instruments for online payments, the average transactions made through these were an average of Rs 33.85 lakh crore and Rs 146 lakh crore, respectively, data showed. Coming to internet banking and mobile banking, transactions worth Rs 91.24 lakh crore and Rs 28.16 lakh crore, respectively, were made in January 2024. Notably, India today accounts for nearly 46 per cent of the world's digital transactions (as per 2022 data). The share of UPI in digital payments in India has reached close to 80 per cent in 2023, informed <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (RBI) Governor <keyword id="19913110" type="General" weightage="20" keywordseo="shaktikanta-das" source="keywords">Shaktikanta Das</keyword> earlier this month, as he outlined the growth of the payments ecosystem in the country. The RBI governor had said India has not only navigated through the fast-evolving technological innovations but also played a pivotal role, as a catalyst, in developing one of the most modern payment systems in the world. Retail digital payments in India have grown from 162 crore transactions in the financial year 2012-13 to over 14,726 crore transactions in 2023-24 (till February 2024) -- approximately a 90-fold increase over 12 years. UPI is India's mobile-based fast payment system, which facilitates customers to make round-the-clock payments instantly, using a Virtual Payment Address (<keyword id="20478991" type="General" weightage="20" keywordseo="vpa" source="keywords">VPA</keyword>) created by the customer. The UPI payment system has become hugely popular for retail digital payments in India, and its adoption is increasing at a rapid pace. A key emphasis of the Indian government has been on ensuring that the benefits of UPI are not limited to India only; other countries, too, benefit from it. So far, Sri Lanka, <keyword id="19956313" type="General" weightage="20" keywordseo="mauritius" source="keywords">Mauritius</keyword>, France, UAE, and <keyword id="19895045" type="General" weightage="20" keywordseo="singapore" source="keywords">Singapore</keyword> have partnered with India on emerging fintech and payment solutions. (ANI)

UPI transactions worth ₹18.2 lakh crore made in February 2024

<ul><li>Aspiring candidates should possess a graduation degree. </li><li>Applications will be entertained only if applied online. </li><li>Here is all you need to know about the job vacancies and how to apply. </li></ul>India’s largest bank, State Bank of India is offering over 8,000 jobs at junior levels and has invited applications for the same. A public sector unit (PSU) bank job in India has always been highly sought as it offers stability, security with a decent pay. In an announcement, SBI has invited applications for Junior Associate positions with 8,283 vacancies available. Eligible candidates can apply online only through the official SBI website. The application window is open from November 17 and will conclude on December 7, 2023. <cmsannotation type="cmsannotation" annotationid="Eligibility criteria" comment="Subhead" text="Eligibility criteria">Eligibility criteria</cmsannotation> Candidates aspiring to apply should possess a graduation degree from a recognised university or an equivalent qualification acknowledged by the Central Government. For those with integrated dual degree (IDD) certificates, the completion date must fall on or before December 31, 2023. The age requirement for applicants ranges between 20 to 28 years. <cmsannotation type="cmsannotation" annotationid="How to apply" comment="Subhead" text="How to apply">How to apply</cmsannotation> Candidates must apply online for the SBI Junior Associate positions, and no other mode of application will be entertained. The application process requires candidates to register themselves through the Bank's official website: <a href="https://bank.sbi/web/careers/current-openings">https://bank.sbi/web/careers/current-openings</a> OR <a href="https://www.sbi.co.in/web/careers/current-openings">https://www.sbi.co.in/web/careers/current-openings</a> under the 'Recruitment of Junior Associates 2023' section. Following registration, applicants are mandated to complete the payment of the prescribed application fee via online methods such as debit card, credit card, or Internet Banking. <cmsannotation type="cmsannotation" annotationid="Selection process and examination details" comment="Subhead" text="Selection process and examination details">Selection process and examination details</cmsannotation> The selection process for the SBI junior associate positions includes an online examination comprising Preliminary and Main exams, along with a test focusing on the specified local language. The Online Preliminary Exam features sections on English Language, Numerical Ability, and Reasoning Ability, consisting of objective tests totaling 100 marks and spanning a duration of one hour. <cmsannotation type="cmsannotation" annotationid="Important dates to remember" comment="Subhead" text="Important dates to remember">Important dates to remember</cmsannotation> The crucial dates associated with this recruitment drive are as follows: the application window opens on November 17, 2023, and closes on December 7, 2023. Subsequently, the Preliminary exam is scheduled for January 2024, followed by the Main exam in February 2024. Interested candidates are advised to refer to the official SBI website for comprehensive details and to submit their applications. <cmsannotation type="cmsannotation" annotationid="Available help" comment="Subhead" text="Available help">Available help</cmsannotation> For any issues related to form completion, fee payment, or non-receipt of admission/call letters, candidates can seek assistance by contacting the designated helpdesk. Queries can be addressed by calling at telephone number 022-22820427, available only on working days of the Bank between 11:00 AM and 05:00 PM. Additionally, candidates can lodge their queries on the website http://cgrs.ibps.in. It's crucial for candidates to mention 'Recruitment of Junior Associate-2023' in the subject line of their email correspondence.

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