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When ChatGPT launched in November 2022, it was being looked upon as something straight out of a Sci-Fi film. The <keyword id="19896272" type="General" weightage="20" keywordseo="generative-AI" source="keywords">generative AI</keyword> chatbot could write, code, compose music and whatnot. While many people started using the AI chatbot everyday and started appreciating it, there were others who were afraid that the chatbot would take away their jobs. And then there were people who believed that knowing how to use <keyword id="20096338" type="General" weightage="20" keywordseo="AI-tools" source="keywords">AI tools</keyword> would be a necessary skill in the future. “AI won’t replace your job but someone using AI tools would” was a popular quote surfacing on LinkedIn at the time AI tools started getting popular. And as per a recent study, this quote holds true. A new study by Gartner says that by 2027, a staggering 80% of engineering professionals may find themselves at risk of <keyword id="20080267" type="General" weightage="20" keywordseo="job-loss" source="keywords">job loss</keyword> if they do not adapt and enhance their skills, particularly in the face of advancing generative AI technologies. Generative AI is changing the way software development and engineering roles are approached at the workplace. This shift poses significant challenges for engineers who have relied on traditional skills and methods. As AI systems become more capable of performing tasks previously done by humans, engineers must recognise the importance of staying current with new tools and methodologies to remain competitive in the job market. According to an Analytics India Mag report, industry experts warn that those who do not actively pursue further education or training may struggle to secure employment. As the demand for <keyword id="23563446" type="General" weightage="20" keywordseo="AI-related-skills" source="keywords">AI-related skills</keyword> rises, professionals who fail to adapt risk being left behind. The pressure to keep pace with technological advancements is not just a trend; it’s becoming a necessity for career survival. To mitigate the risks associated with job displacement, engineers should engage in <keyword id="20186222" type="General" weightage="20" keywordseo="lifelong-learning" source="keywords">lifelong learning</keyword>. Upskilling can take various forms, including online courses, workshops, and certifications focused on AI and machine learning. Many educational institutions and online platforms are responding to this need by offering specialised programmes tailored to the demands of the industry. The call for continuous learning is not just about acquiring new technical skills. It also involves developing soft skills such as critical thinking, problem-solving, and adaptability. These competencies are increasingly valuable in a world where collaboration with AI systems will become the norm.

Study reveals 80% of software engineers must upskill by 2027 to keep their jobs

This as-told-to essay is based on a conversation with <keyword id="23300967" type="General" weightage="20" keywordseo="Nicholas-Whitaker" source="keywords">Nicholas Whitaker</keyword>, who worked with <keyword id="19902762" type="General" weightage="100" keywordseo="Google" source="keywords" meta.keywordsubtype="org" meta.entityname="Google" meta.hostid="261" meta.entityid="Google">Google</keyword> for nearly 13 years and got laid off in 2023. He is now running a venture of his own. It has been edited for length and clarity. I joined Google over a decade ago and it became much more than just a job. At that time, Google had approximately 40,000 employees, and the atmosphere felt very much like a startup. Teams were nimble and cooperative, offering ample opportunities for personal and professional growth. There was an unmistakable sense of optimism and potential in the air. It was my first experience in the tech industry, and I viewed that period as a significant phase in my development. I gained valuable skills and benefited from the early support and mentorship of my colleagues and leaders. Perhaps this is why the experience of being laid off hit me so hard. I remember the moment vividly. It was 3 a.m., and I received a ping on LinkedIn from a colleague asking if I was safe. Initially, I thought there had been some kind of emergency—a shooting or perhaps a natural disaster. But when I checked my personal email, I discovered the real reason for their message. I found a short, impersonal email informing me that my role had been eliminated. <div type="Article" hostid="261" msid="113637185" title="Fired from Google after 13 years of service, he used his severance to build a business around helping others with their careers" mstype="2" mssubtype="0"></div> <h2>I was laid off without a warning </h2> What shocked me the most was the lack of warning. After my colleague's message, I checked my work email only to find out that it was locked out of my phone and laptop. I then checked my personal email and there it was, a short email informing me about my layoff, providing basic instructions about returning company property and navigating unemployment. The next few months were spent sending back my laptop, badge, and other Google gear. Along the way there were multiple errors and miscommunications from the team that made it all even more uncomfortable. <div type="Article" hostid="261" msid="113619411" title="Rename home Wi-Fi, leave badge at office: Ex-Amazon employee reveals tricks used by employees to not work from office" mstype="2" mssubtype="0"></div> There was only one text message from my former manager, asking how I was doing a few days after the layoff. Beyond that, I heard nothing from my old team. It was such a brutally impersonal and inhumane process. <h2>If you have been laid off, you are not alone</h2> If you’ve been laid off, the first thing I want to say is: You’re not alone, and this moment doesn’t define you. When it first happens, it can feel incredibly personal, but <keyword id="19916567" type="General" weightage="20" keywordseo="layoffs" source="keywords">layoffs</keyword> are usually about business decisions, not your individual worth or performance. After spending over a decade at Google, I know how disorienting it can feel. But over time, I realised that this was also an opportunity to rethink what I really wanted from my career and life. Here are a few pieces of advice that helped me navigate this uncertain time: Give yourself space to process what happened: It’s okay to feel angry, sad, or uncertain. Let yourself experience those emotions, but try not to let them dictate your next move. Take the time you need to recover emotionally before jumping into something new. Reframe the situation: As hard as it sounds, a layoff can also be an opportunity to reassess what you want from your career. For me, the layoff became a catalyst for starting my own venture and reconnecting with what truly matters to me. This is a chance to explore new possibilities that may have been overshadowed by the stability of a previous job. Invest in your health: It’s easy to get caught up in the stress of finding the next thing, but make sure you’re taking care of your mental and physical health. For me, mindfulness and self-care were key to navigating this period. You can’t pour from an empty cup, so make sure you’re refilling yours. Reconnect with your network: Don’t be afraid to lean on your network for support, advice, or job leads. It can feel uncomfortable, but remember that people are often happy to help. Reach out to former colleagues, mentors, and friends, and let them know you’re in transition. Don’t rush the next step: Sometimes, the instinct is to jump into whatever comes next to avoid the discomfort of uncertainty. But if you can, take a beat and make sure your next move aligns with your values and long-term goals. Use this time to reflect on what you want from your next role or career path. Explore new avenues: If you’ve ever thought about starting your own business, freelancing, or shifting industries, now could be the perfect time to explore those ideas. That’s what I did with Changing Work Collective, and it’s led me to a more fulfilling and purpose-driven career than I ever had before. <div type="Article" hostid="261" msid="113800304" title="'Microsoft employee gets $300,000 for working 15-20 hours a week’: X user’s post goes viral" mstype="2" mssubtype="0"></div> Ultimately, a layoff is just one chapter in a much larger story. It can be a painful experience, but it’s also a chance for reinvention and growth. Stay grounded, take care of yourself, and trust that you have the resilience and skills to navigate this and come out stronger on the other side.

I was fired from Google after 13 years of service. Here's what I learnt on how to deal with layoffs

<ul class="summary-list"><li><keyword id="23786456" type="General" weightage="20" keywordseo="Mae-Suzuki" source="keywords">Mae Suzuki</keyword> was stuck in a cycle of <keyword id="23786455" type="General" weightage="20" keywordseo="restrictive-dieting" source="keywords">restrictive dieting</keyword> and binging for years.</li><li>She applied the technique of visualization, used by business titans such as Steve Jobs, and lost 40 pounds.</li></ul>For years, Mae Suzuki was stuck in a cycle of <a target="_blank" href="https://www.businessinsider.com/women-losing-periods-due-to-restrictive-dieting-over-exercising-2021-3">restrictive dieting</a> and binging that left her miserable. But when Suzuki started visualizing her dream self and following the habits she imagined she would have, she lost 40 pounds sustainably. The technique of visualization has been linked to improved musical ability, athletic performance, self-confidence, decision-making, and emotional regulation. Many successful entrepreneurs, including <a target="_blank" class="" href="https://www.businessinsider.com/steve-jobs">Steve Jobs</a>, are known to have used <keyword id="21023801" type="General" weightage="20" keywordseo="visualization-techniques" source="keywords">visualization techniques</keyword> throughout their careers, as well as Olympians such as Michael Phelps. Growing up, Suzuki, a YouTuber based in New York, was overweight and wasn't taught healthy eating habits, which made her feel different. "That sort of added to the whole shame around 'Why am I not fit? Why am I not healthy? Why do I feel different from everyone else around me?'" she told Business Insider. In spring 2023, the "<a target="_blank" href="https://www.businessinsider.com/weight-loss-glp-1-drugs-ozempic-wegovy-mounjaro-effects-future-2023-12">food noise</a>" and misery of yo-yo dieting reached a fever pitch, and she decided something had to change. Suzuki had discovered the concept of <a target="_blank" href="https://www.businessinsider.com/lucky-girl-syndrome-manifesting-success-jobs-money-economy-tiktok-2023-2">manifesting</a> — which she described as "basically creating whatever you want into your reality" — a few years earlier. She used the framework to examine her lifestyle and reimagine her ideal one. She started by reflecting deeply on what she wanted her life to look like, and envisioned her dream self. "I really sat down with myself and thought about, 'Who do I want to be? If I want to achieve things in my life, who do I have to become?' And it's not about being someone else other than myself, but it's more so discovering new extensions of myself," she said. Suzuki added: "I basically did an entire overhaul of my <keyword id="23786458" type="General" weightage="20" keywordseo="self-concept" source="keywords">self-concept</keyword>, my identity, basically like who's Mae? What does she do? What are her habits like? "And I also thought about what people who are at my goal, people who are fit and healthy, what are they doing?" Then, Suzuki made a promise to herself to gradually start living her life as that person. "I manifested by living the life of the person I wanted to become," she said. After six months, she reached her goal of losing 40 pounds and has maintained her weight since about October of last year. The Centers for Disease Control and Prevention says losing about 4 to 8 pounds a month is healthy and sustainable. <div type="image" title="Suzuki on the beach before her weight loss." height="2268" width="3024" msid="114428139" hostid="261"></div><h2>Shifting the focus away from <keyword id="19923802" type="General" weightage="100" keywordseo="weight-loss" source="keywords">weight loss</keyword> and toward enjoyment and health</h2>Suzuki realized she was previously solely focused on losing weight, which led her to eating foods she didn't like and doing workouts she hated. "Everything that I thought revolved around 'how do I lose weight? How do I burn more calories?' That wasn't giving me joy at all," she said. In fact, it made everything feel like a chore, which was unsustainable. As she observed people who had <a target="_blank" href="https://www.businessinsider.com/longevity-lifestyle-changes-live-longer-healthy-habits-genes-study-2024-5">healthy habits</a>, she noticed that they tended to be active simply because they enjoyed it. They might get off the bus a few stops early to walk the rest of the way home, for example, because they enjoyed the process. That was a perspective she had never considered before. "I had to kind of unpack all of these underlying mindsets that I had that clearly brought me to where I was. It wasn't working out for me," Suzuki said. This time, she focused on feeling strong, healthy, and happy. Once she stopped focusing on the things she didn't like in order to lose weight, she started to see gradual but sustained weight loss. <h2>She didn't restrict herself but didn't eat more than she needed</h2>In Suzuki's childhood home, there was a scarcity mentality in relation to food, she said. Her parents' <a target="_blank" class="" href="https://www.businessinsider.com/alices-ultra-rich-what-people-across-tax-brackets-discuss-therapy-2024-10">financial struggles</a> fostered a belief that she had to eat everything on her plate or else go hungry. And while that might have made sense at the time, as an adult it led Suzuki to <a target="_blank" class="" href="https://www.businessinsider.com/avoid-overeating-at-thanksgiving-dinner-eat-slower-dietitian-2023-11">often overeat</a>. Instead, she allowed herself to eat until she was full and put the rest aside for later. "Food is abundant. If I'm hungry, I can go get a snack. So I don't feel like I need to overeat and be extremely full just so that I won't be hungry later on," she said. After years of restrictive dieting, she also let go of demonizing certain foods and glorifying others. Instead, she paid more attention to nutritional value, portion size, and flavor. She tracked what she ate to make sure she was in a <a target="_blank" class="" href="https://www.businessinsider.com/guides/health/diet-nutrition/benefits-of-calorie-deficit-diet">calorie deficit</a>— which means eating fewer calories than you burn — but wasn't strict about it, she said. "I don't have to eat five cups of salad every day. I just need to eat what I like and then feel full and then move on with my day. And if I'm hungry, I can get more food," she said. <div type="image" title="Mae Suzuki taking a mirror selfie at the gym." height="4032" width="2268" msid="114428142" hostid="261"></div><h2>Discovering <keyword id="21715184" type="General" weightage="20" keywordseo="weight-lifting" source="keywords">weight lifting</keyword></h2>In June, Suzuki joined her local gym and committed to going three to four times a week. She knew there would be times she didn't feel motivated but she just kept focusing on her goal until it became a habit. She tried as many different workout classes as she could, and discovered that <a target="_blank" class="" href="https://www.businessinsider.com/how-weightlifter-made-running-habit-hybrid-training-2024-10">she loves lifting heavy but isn't so into cardio</a>. On days she doesn't feel like exercising, she leans on the workouts she knows she enjoys, like practicing <a target="_blank" href="https://www.businessinsider.com/gyms-outdated-cardio-no-squat-racks-2024-9">squats</a>. "I just want to move my body. I just want to feel good in my body," she said. Correction — October 21, 2024: A previous version of this story misstated a CDC recommendation on healthy weight loss. The CDC says a healthy weight-loss goal for most people is 4 to 8 pounds a month, not 10 pounds a month.

A woman lost 40 pounds by quitting strict diets that made her miserable. She started by visualizing 3 healthy habits her ideal self would keep.

<ul class="summary-list"><li>Thousands more jobs are under threat in Germany's beleaguered automotive industry.</li><li>Parts supplier Schaeffler said it would cut thousands of jobs for a net reduction of about 3,700 workers.</li></ul>Germany's auto industry is under intense pressure — and now thousands of jobs will go at a key company in the supply chain.Auto parts supplier Schaeffler said on Tuesday it would cut about 4,700 jobs across Europe and close two of its 10 locations in Germany. The move comes a week after union officials said Volkswagen was <a target="_blank" class="" href="https://www.businessinsider.com/volkswagen-considers-closing-factories-germany-job-salary-cuts-autos-2024-10">planning to shut factories</a> in its home market for the first time.Schaeffler, which supplies parts to companies including VW, BMW, and Mercedes-Benz, said it would cut about 2,800 jobs in Germany as part of an effort to save 290 million euros ($316 million) a year by 2029. Relocating some production meant the net number of job losses would be about 3,700, the company said.Schaeffler CEO Klaus Rosenfeld said in a press release that the moves were necessary to safeguard the group's competitiveness over the long term.Net profit for the nine months to September 30 fell almost 40% to 250 million euros compared with the same period last year. The stock fell almost 6% in Frankfurt.Schaeffler's struggles add to the upheaval facing Germany's automotive industry — a vital part of Europe's largest economy.Volkswagen is considering closing as many as three factories and cutting thousands of jobs, the company's top union official said, after it issued two profit warnings in three months.Rivals Mercedes and BMW have also warned on profits amid sliding sales, with <a target="_blank" class="" href="https://www.businessinsider.com/mercedes-benz-sliding-ev-sales-and-weak-demand-in-china-2024-10">Mercedes saying it would seek "cost improvements"</a> across its business after EV sales fell 31% in the third quarter compared with a year earlier.Automakers and suppliers are struggling with <a target="_blank" class="" href="https://www.businessinsider.com/ev-sales-europe-slumping-warning-sign-us-2024-9">stuttering demand for EVs in Europe</a> even as they <a target="_blank" class="" href="https://www.businessinsider.com/vw-making-huge-bet-on-electric-vehicles-in-next-decade-2019-11">pour billions</a> into transitioning from combustion engine vehicles.The likes of Mercedes, BMW, and VW are <a target="_blank" class="" href="https://www.businessinsider.com/germany-auto-giants-volkswagen-bmw-mercedes-struggle-sales-china-evs-2024-10">also facing a growing crisis in China</a>, with all three reporting sliding sales in the world's largest car market.The European giants are coming <a target="_blank" class="" href="https://www.businessinsider.com/luxury-european-carmakers-china-sales-competition-electric-vehicles-bmw-mercedes-2024-10">under pressure from Chinese EV companies</a> including BYD and Zeekr which are winning market share from foreign firms.Many of those companies are now expanding in Europe, despite the EU's tariffs on Chinese EV imports. BYD announced plans to bring its <a target="_blank" class="" href="https://www.businessinsider.com/byd-cheap-ev-seagull-coming-to-europe-china-us-tariffs-2024-5">ultra-cheap Seagull hatchback to the continent next year</a> and is building factories in Hungary and <a target="_blank" class="" href="https://www.businessinsider.com/tesla-rival-byd-chinese-evs-expands-in-europe-new-factory-2024-7">Turkey</a>.Schaeffler declined to comment.

Parts supplier cuts thousands of jobs as Germany's auto woes deepen

<ul class="summary-list"><li><keyword id="19945948" type="General" weightage="100" keywordseo="Spirit-Airlines" source="keywords" meta.keywordsubtype="org" meta.entityname="Spirit Airlines" meta.hostid="261" meta.entityid="Spirit Airlines">Spirit Airlines</keyword> may file for Chapter 11 amid major debts after a failed merger with JetBlue.</li><li>The airline is saddled with debt of about $3.3 billion.</li></ul>Spirit Airlines stock plunged in premarket trading on Friday after a report that it may file for <keyword id="20424206" type="General" weightage="20" keywordseo="Chapter-11-bankruptcy" source="keywords">Chapter 11 bankruptcy</keyword> protection. Following a failed merger with <keyword id="20245146" type="General" weightage="20" keywordseo="JetBlue-Airways" source="keywords" meta.keywordsubtype="org" meta.entityname="JetBlue Airways" meta.hostid="261" meta.entityid="JetBlue Airways">JetBlue Airways</keyword>, Spirit had been grappling with heavy losses, making it difficult to manage its $3.3 billion debt load that includes $1.1 billion of secured bonds due within the next year, The Wall Street Journal <a target="_blank" href="https://www.wsj.com/articles/spirit-airlines-in-talks-with-bondholders-over-terms-of-potential-bankruptcy-filing-fdd23fae?st=oS9e7Q&amp;reflink=desktopwebshare_permalink">reported</a> late Thursday. The <keyword id="20376051" type="General" weightage="20" keywordseo="budget-airline" source="keywords">budget airline</keyword> is also exploring restructuring options to alleviate some of its financial pressures, though no filing is imminent, the Journal reported. The report pushed the carrier's stock down as much as 36% in premarket trade on Friday. The shares have fallen 86% this year. <keyword id="23550986" type="General" weightage="20" keywordseo="CEO-Ted-Christie" source="keywords">CEO Ted Christie</keyword> said on an August earnings call that Spirit was in talks with advisors and bondholders over its debt. While Spirit faces a turbulent future with a potential Chapter 11 filing, it isn't necessarily a death sentence for the airline. Rather, <a target="_blank" href="https://www.businessinsider.com/personal-finance/credit-score/what-is-chapter-11-bankruptcy">Chapter 11</a> allows businesses to reorganize their debts while continuing their operations. Other airlines have used the process to stay afloat. Most recently, <a target="_blank" href="https://www.businessinsider.com/scandinavian-airlines-filed-chapter-11-bankruptcy-after-pilot-strike-sas-2022-7">Scandinavian Airlines</a> filed for Chapter 11 in the US in 2022 following a pilot strike. The airline underwent a $3 billion restructuring plan to revise its fleet and raise money, while continuing to operate. The company emerged from bankruptcy in August. In 2005, <a href="https://www.businessinsider.com/companies-went-bankrupt-bounced-back-successful#delta-air-lines-filed-for-bankruptcy-in-2005-and-spent-a-year-and-a-half-restructuring-3" target="_blank">Delta Air Lines</a> filed for bankruptcy after shedding 6,000 jobs and slashing $1 billion in labor costs. By optimizing its Atlanta hub and increasing its international routes, the company recovered from its financial troubles and remains one of the <a href="https://www.businessinsider.com/best-and-worst-airlines-in-the-us-according-to-the-points-guy-2024-6" target="_blank">largest airlines</a> in the US. A potential bankruptcy filing could serve as a similar lifeline for Spirit's management of debt and finances. This came as Spirit <a target="_blank" href="https://www.businessinsider.com/spirit-airlines-ticket-changes-bundled-fares-bags-snacks-premium-seats-2024-7">bumped</a> its ticketing prices in July, shifting away from its ultra-low-cost model to boost revenue after suffering a $143 million loss in the first quarter of this year and a <a target="_blank" href="https://www.businessinsider.com/airlines-spirit-southwest-jetblue-struggle-profit-scrambling-changes-tickets-seats-2024-8">$193 million</a> loss in the second quarter. Spirit has been bogged by annual losses since before the COVID-19 pandemic, despite the travel industry's recovery, and continues to struggle against larger airlines that offer competitive fares. The airline has cut routes, furloughed pilots, and shrunk its operational capacity by nearly 20%. Spirit Airlines did not respond to a request for comment from Business Insider outside normal working hours. Correction: October 4, 2024 — An earlier version of this story misstated the year Delta filed for bankruptcy protection. It was 2005, not 2007.

Spirit Airlines stock plunges after report it's considering filing for Chapter 11 bankruptcy

Getting a <keyword id="20488964" type="General" weightage="20" keywordseo="job-offer" source="keywords">job offer</keyword> in today's time might feel like half the battle won. The job market, especially in the tech sector, has been quite intense for the last few years and for international students, as per a <keyword id="19951562" type="General" weightage="20" keywordseo="LinkedIn" source="keywords" meta.keywordsubtype="org" meta.entityname="LinkedIn" meta.hostid="261" meta.entityid="LinkedIn">LinkedIn</keyword> user, things are quite challenging. The <keyword id="22004983" type="General" weightage="20" keywordseo="Indian-origin-engineer" source="keywords">Indian-origin engineer</keyword> living in the US took to the job-search platform to share his journey. He shared how he recently got a job offer from <keyword id="19903807" type="General" weightage="20" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword>'s <keyword id="19895433" type="General" weightage="100" keywordseo="Tesla" source="keywords" meta.keywordsubtype="org" meta.entityname="Tesla" meta.hostid="261" meta.entityid="Tesla">Tesla</keyword> after 500 cold emails, 300 plus applications and 10 interviews. <h2>Engineer gets job offer from Tesla</h2>The young international graduate in the U.S. took to LinkedIn and shared that he has finally secured a full-time role at Tesla as a Technical Support Specialist, after a five-month struggle of relentless job hunting. With over 300 applications, 500 cold emails, and numerous interviews, this success was hard-earned. Despite having solid credentials, including three internships, a strong <keyword id="20991885" type="General" weightage="20" keywordseo="gpa" source="keywords">GPA</keyword>, and extracurricular experience, the competitive job market proved challenging, especially for an international candidate dealing with visa pressures. During the job search, the candidate faced intense setbacks, including the loss of health insurance, housing, and the emotional strain of uncertainty around visa requirements. Living out of friends’ apartments and managing expenses on a tight budget, he persevered by treating job searching as a full-time endeavour, committing to hours of applications and interview preparation. <h2>"Was unemployed for months" </h2> "Despite having three internships, a good GPA, and active extracurriculars, I never imagined I would be in a position where I’d be unemployed for five months. I lost my lease, my health insurance, and constantly felt the ticking clock of my visa status, knowing I could be forced to leave the U.S. at any moment," his LinkedIn post read. However, he also shared that he made time to unwind in the evenings and weekends, acknowledging the importance of balancing this tough process with self-care. The now-Tesla employee shared practical tips and resources that made a difference in his journey, from cold-emailing potential employers to leveraging platforms like LinkedIn, Indeed, Handshake, and Jobright.ai for finding job openings. He added that with the help of ChatGPT+ for tailoring resumes and cover letters, he honed each application, turning every interview into a learning experience.

‘Was unemployed for months, lost my lease and insurance’: Indian-origin engineer gets offer from Elon Musk’s Tesla, shares journey

<ul class="summary-list"><li>A woman who had life-changing results on a popular weight loss drug struggled to afford it for years.</li><li>She found stability with a cheaper version of the medication through the booming telehealth market.</li></ul><a target="_blank" class="" href="https://www.tiktok.com/@tacklingtara">Tara Rothenhoefer</a>, a 49-year-old Florida resident, says her life changed when she joined a clinical trial for a promising new weight-loss medication.Over the course of the 18-month trial, from 2020 to 2021, she <a target="_blank" class="" href="https://www.businessinsider.com/mounjaro-weight-loss-drug-not-easy-way-out-2023-10">lost more than 200 pounds</a> — more than a third of her body weight. Suddenly, she didn't have pervasive "<a target="_blank" class="" href="https://www.businessinsider.com/weight-loss-drug-semaglutide-helping-dispel-harmful-stereotypes-patients-say-2022-12">food noise</a>" or preoccupation with eating that had bothered her for years, allowing her to freely pursue healthy habits.Rothenhoefer had been testing a drug, sold by pharmaceutical company Eli Lilly, which later won FDA approval for weight loss in 2023 under the brand name <a target="_blank" class="" href="https://businessinsider.com/eli-lilly-mounjaro-zepbound-approved-weight-loss-stronger-than-wegovy-2023-11">Zepbound</a>. A similar version of this drug, called Mounjaro, has been available to people with type 2 diabetes since 2022.But when the trial ended, she was faced with the prospect of paying over $1,000 per month to continue this drug, or try to keep the weight off unmedicated — an incredibly tricky feat since the drug's effects are not long-lasting, as far as we know.Now, after three years of navigating a nightmarish maze of shortages and lack of insurance coverage, she finally has steady, affordable access to her medication.She's not only one.The high price of weight-loss medication has left out millions of Americans who could benefit, as highlighted in recent <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/novo-nordisk-ceo-faces-senate-questions-over-high-prices-of-ozempic-and-wegovy-in-us-1033798280">Senate Committee Hearings</a>, where Novo Nordisk's CEO faced tough questions about its versions of similar drugs, Ozempic and Wegovy.Here's how she, like many others, has found a way around the snarls of the healthcare system to stay on the drug.<h2 id="b6ae44a3-53cb-4a2c-8ff1-f68263c11f64">At first, she tried the pharma solution: coupons</h2>After the trial ended, Rothenhoefer's doctor issued her a prescription for Mounjaro but she knew she couldn't afford it with her office job.Not a problem, manufacturer Eli Lilly told her — she could get a coupon, allowing her to access the drug at a steep discount.Providing coupons is a common practice for drug makers to incentivize patients to try their product, instead of a competitor's, especially when it's a new offering in an already-hot and high-priced market.However, the coupon expired in June 2023. And all she could do was ration out her remaining doses and hope for the best."My insurance doesn't cover it. Most people can't afford it. I had no choice," she said.<h2 id="9f175e6c-deef-4bd9-8285-ccf7d1bc03be">Spreading out doses to try to make the drug last longer</h2>Rothenhoefer did what she could to make her supply of medication last, and tried to dose every 10 to 14 days instead of weekly, but the scale began creeping back up regardless of what she did."I was having a lot of fluctuations in weight even though my habits were the same," she said.Research suggests that people who lose weight on GLP-1 medications need to continue taking them or they'll <a target="_blank" class="" href="https://www.businessinsider.com/zepbound-weight-gain-stop-taking-tirzepatide-2023-12">regain the weight</a> so Rothenhoefer needed a long-term plan just to keep her weight stable."I'm in maintenance, which I'll be in for the rest of my life," she said.But she's since been able to find a steady, affordable supply, and now takes a dose of 7.5 - 10 mg of compounded tirzepatide weekly, delivered to her door, and plans to stay this course for at least the next year, if not longer.<h2 id="86a425c0-21ca-447d-a94f-5bc79360d4e5">The promise of cheaper 'compounded drugs'</h2>Rothenhoefer said she had heard about a cheaper version of the GLP-1s known as compounded tirzepatide.The active ingredient in Mounjaro and Zepbound is tirzepatide, one type of <a target="_blank" class="" href="https://www.businessinsider.com/weight-loss-glp-1-drugs-ozempic-wegovy-mounjaro-effects-future-2023-12">GLP-1 drugs</a>, which mimic hormones that our bodies naturally produce to control appetite and blood sugar. (Ozempic and Wegovy contain a similar drug called <a target="_blank" class="" href="https://www.businessinsider.com/how-weight-loss-meds-injections-compare-costs-results-side-effects">semaglutide</a>.)<a target="_blank" class="" href="https://www.businessinsider.com/buy-compounded-semaglutide-online-risks-wegovy-ozempic-2023-1">Compounded medications</a> are custom formulations of drugs provide by specialized pharmacies. Since brand name GLP-1 drugs have long been in shortage, drug compounders are legally allowed to fill the gap in demand with their own versions of the same active ingredients, semaglutide or tirzepatide.While regulated, these compounded drugs aren't FDA-approved, raising concerns from doctors about variations in quality.The grey market of weight-loss drugs is vast and complicated.Some weight-loss clinics or med spas offer injections for as little as $20, with way of vetting what you're getting, and some online clinics are simply money scams, a <a target="_blank" class="" href="https://www.businessinsider.com/scientist-cheaper-ozempic-sold-online-contains-dangerous-ingredients-2024-8">recent study found</a>.Rothenhoefer contacted a telehealth company with a verified, credentialed compounding pharmacy.The price for her dose of the compounded version is $329 monthly, compared to the brand name's list price of more than $1,000 per month.Pharmaceutical companies are pushing back against their low-cost competitors in the GLP-1 market.In August, Eli Lilly halved the price of its <a target="_blank" class="" href="https://www.businessinsider.com/eli-lilly-cut-price-zepbound-tirzepatide-weight-loss-drug-copycats-2024-8">weight-loss drug Zepbound </a>through single-dose vials — a bid to lure customers back to brand-name drugs, analysts said.But Rothenhoefer said that if manufacturers want people to buy their products, prices need to keep dropping."I think everyone would be on the branded if it were accessible and affordable. But there are people out there that are alive now that might not have been or might have been in five years if they didn't get their health under control," she said of patients like her who are now using compounded medications.<h2 id="bc1e401f-b010-4062-a1c7-ffc442cacc15">A huge relief</h2>Previously, Rothenhoefer said she was constantly worried about protecting the dwindling stockpile of medication in her refrigerator.Now, with reliable access, a huge burden has been lifted, Rothenhoefer said. She is no longer fixated on rushing to get ice in a cooler for her meds as a first priority, and is free to think about everything else that matters."I don't have any fear at all anymore," she said. "My mind has been totally put at ease and I can now focus on the rest of my life."

Weight-loss drugs are life-changing — and expensive. Here's one woman's solution.

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Happy Labor Day! I'm Jordan Parker Erb, filling in for Dan DeFrancesco. In observance of the US holiday, we have a shorter edition of the newsletter. (It is Labor Day, after all.) We'll be back in full force tomorrow.Speaking of labor, in today's big story we're looking at the <a target="_blank" href="https://www.businessinsider.com/fastest-growing-jobs-employment-projections-renewable-energy-healthcare-analysts-2024-8">fastest-growing</a> (and <a target="_blank" href="https://www.businessinsider.com/fastest-shrinking-jobs-us-typists-operators-assemblers-telemarketers-data-entry-2024-8">fastest-shrinking</a>) jobs in the United States.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">Get 'em while they're hot</h2><div type="image" title="Photo illustration of suitcases with growth and shrink arrows" height="1440" width="1920" msid="112998272" hostid="261" sizebytes="57288"></div>It's a great time to be a wind turbine service technician (or a solar photovoltaic installer, or a nurse practitioner).According to new projections from the Bureau of Labor Statistics, those are the top three <a target="_blank" href="https://www.businessinsider.com/fastest-growing-jobs-employment-projections-renewable-energy-healthcare-analysts-2024-8">fastest-growing jobs in the country</a> over the next decade, writes Business Insider's Madison Hoff.For many job seekers, landing a new gig has proved challenging as <a target="_blank" href="https://www.businessinsider.com/unemployment-rate-job-growth-july-labor-market-economic-data-2024-7">hiring cools and competition intensifies</a>. But looking at where the labor market is headed could help job hunters find industries in need of workers.Careers in solar and <a target="_blank" rel="noopener" href="https://www.businessinsider.com/fastest-growing-career-wind-technicians-job-salary-us-2024-6">wind power</a> will feel the love in the next decade as America looks to renewable energy. Wind turbine service technicians are expected to see an increase in employment of around 60% by 2033.Other jobs, particularly those in healthcare, remain wise career choices. Nurse practitioners, physician assistants, and physical therapist assistants also made the list of fastest-growing jobs.But just because there are going to be plenty of jobs doesn't mean they'll pay well. The number of home health and personal care aides is expected to rise 20.7% by 2033, but the median annual wage is $33,530, well below the national median.However, BI ran its own methodology to uncover the <a target="_blank" href="https://www.businessinsider.com/high-paying-fast-growing-jobs-software-developers-nurses-managers-accountants-2024-9">20 jobs that are growing fast AND high paying in the US</a>.<div type="image" title="ai robot hand worker running 2x1" height="1000" width="2000" msid="112998273" hostid="261" sizebytes="48770"></div>Then, of course, there's the other end of the spectrum. As fast as some jobs are growing, others are losing steam.According to the BLS data, word processors and typists will have the hardest time finding work in the next decade. As <a target="_blank" href="https://www.businessinsider.com/fastest-shrinking-jobs-us-typists-operators-assemblers-telemarketers-data-entry-2024-8">the fastest-shrinking job</a>, employment among typists is expected to fall 38% by 2033.In what will likely come as a surprise to no one, the BLS pointed to a familiar trend as being partially responsible for the losses: Artificial intelligence.The fear of being replaced by AI is nothing new. Labor experts recently told BI's Jennifer Sor that the tech could displace as many as <a target="_blank" href="https://www.businessinsider.com/ai-job-market-replacing-workers-competition-job-losses-artificial-intelligence-2024-7">12 million workers by 2030</a>. Even AWS' CEO said that most developers could stop coding soon <a target="_blank" href="https://www.businessinsider.com/aws-ceo-developers-stop-coding-ai-takes-over-2024-8">as AI takes over</a>.Workers may have one saving grace (for now): MIT recently found that <a target="_blank" href="https://www.businessinsider.com/ai-too-expensive-steal-some-jobs-mit-study-finds-2024-1">AI is simply too expensive to steal many jobs</a>. So while your job may be safe for the immediate future, it may be time to start looking into a hot new career path. (Time to become <a target="_blank" href="https://www.businessinsider.com/fastest-growing-jobs-employment-projections-renewable-energy-healthcare-analysts-2024-8">a solar photovoltaic installer</a>!)<h2 id="1ad7b482-3f4b-44b4-81b6-a864aa386478">In other news</h2><ul><li>IDF <a target="_blank" rel="noopener" href="https://www.businessinsider.com/idf-recovers-bodies-6-hostages-gaza-us-citizen-2024-9">recovers bodies of 6 hostages</a> from Gaza tunnel, including a US citizen whose parents spoke at the DNC.</li><li>Elon Musk's X ordered to <a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/brazil-judge-orders-elon-musk-x-stop-operations-2024-8">stop operations in Brazil.</a></li><li>The next would-be assassin may be a drone pilot. <a target="_blank" rel="noopener" href="https://www.businessinsider.com/next-assassination-attempt-drone-pilot-secret-service-2024-8">US law enforcement doesn't look ready</a>.</li><li>Nvidia might actually lose in this <a target="_blank" href="https://www.businessinsider.com/nvidia-may-lose-ai-inference-market-groq-cerebras-2024-8">key part of the AI chip business</a>.</li><li>View CEO Rao Mulpuri, who saw the glassmaker go from investor darling to declaring bankruptcy, <a target="_blank" href="https://www.businessinsider.com/view-rao-mulpuri-softbank-bankruptcy-cantor-rxr-2024-8">has resigned</a>.</li><li>Japan is having a hard time <a target="_blank" rel="noopener" href="https://www.businessinsider.com/japan-struggles-four-day-workweek-culture-overwork-panasonic-worker-shortage-2024-9">convincing employees to take 4-day workweeks</a>.</li><li>Inside the legal battle over the fate of the <a target="_blank" href="https://www.businessinsider.com/kroger-albertsons-merger-ftc-lawsuit-court-battle-2024-8">biggest supermarket merger in US history</a>.</li><li>'Something has been changing': Why a top economist is still worried about a recession <a target="_blank" href="https://www.businessinsider.com/us-recession-outlook-economic-indicators-unemployment-sahm-rule-david-rosenberg-2024-8">even as the US economy keeps growing</a>.</li><li>The Fed will go <a target="_blank" href="https://www.businessinsider.com/fed-rate-cuts-forecast-economy-unemployment-rate-cjob-market-citi-2024-8">bigger with rate cuts than markets think</a>, Citi economist says.</li><li>I'm a Harvard senior who balances college and my OpenAI-backed startup through <a target="_blank" href="https://www.businessinsider.com/harvard-senior-balances-college-ai-startup-productivity-enterprise-openai-coding-2024-8">these 3 productivity tips</a>.</li><li>Facebook's surprise change to its classic icon <a target="_blank" href="https://www.businessinsider.com/facebook-icon-black-blue-glitch-error-2024-8">was just a glitch</a>.</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.

As fast as some jobs are growing, others are losing steam

Millennials in tech, your suspicions were right: Gen Z is starting to eat your lunch. Newly released federal data shows the US tech workforce is younger than the workforce at large and getting younger still. Tech workers under 25 are becoming more common, while the proportion of workers older than 40 shrinks.There's an age-old perception that tech workers should be young so they can move fast and break things. Job applicants are assessed on whether they're a "culture fit," and that culture often toasts youth. "I want to stress the importance of being young and technical. Young people are just smarter," said a then-22-year-old Mark Zuckerberg (he <a target="_blank" href="https://www.businessinsider.com/mark-zuckerberg-birthday-party-tshirt-chain-priscilla-chan-2024-5">turned 40</a> this year). But when it comes to actually showing ageism, the problem has been there's more bad vibes than proof.A new report from the Equal Employment Opportunity Commission released this month puts some numbers to those vibes. The commission looked at more than 10 million workers employed in the tech workforce (which included workers across industries employed in 56 STEM-related roles) as of 2022 and found that nearly 41% were ages 25 to 39, an age group that made up just 33% of the overall US workforce. Even younger workers were faring better in tech: The number of people under the age of 25 grew by about 9% each year from 2014 to 2022 and made up 7% of the tech workforce by 2022, more than 20 times the rate of growth for young workers across all industries. One of the top qualifications to land a tech job, it seems, is to possess a birth certificate dated after 1990.The ranks of <a target="_blank" class="" href="https://www.businessinsider.com/joe-biden-corporate-gerontocracy-aging-ceos-retirement-succession-replacement-2024-8">workers over 65</a> did also grow, but only to 4% — they're still by far the smallest age group working in tech, and far less represented compared with their ranks in other industries. The EEOC's report, which for the first time looked at age discrimination, included an even more troubling finding: Charges of age discrimination are more prevalent among companies where STEM jobs are prominent. <a target="_blank" class="" href="https://www.businessinsider.com/shocked-when-recruiter-said-too-old-tech-job-ageism-2024-3">Age complaints</a> are found in nearly 20% of the charges filed to the EEOC at these companies, compared with 15% across other industries.While none of it is good news, for many, it is validation. The report "finally brought to life that this is real," says Maureen Clough, who hosts the podcast "It Gets Late Early" about aging in the tech world. "We don't have to be gaslit anymore."Of course, age isn't the tech world's only workforce problem. The EEOC also found that women and Black workers continue to be disproportionately underrepresented, and that discrimination in the industry is likely a contributor to age, gender, and racial disparities in the tech sector. <a target="_blank" class="" href="https://www.businessinsider.com/dating-men-as-a-female-software-engineer-is-difficult-2024-8">Women</a> make up just 22% of tech workers — the same proportion of jobs they held in 2005. Age is often bumped to a secondary consideration behind other demographics in the push for diversity. That may be because many people don't really think ageism is wrong — even though US law has prohibited discrimination against workers over the age of 40 since 1967. Stereotypes and complaints about both the young and old remain embedded in society, and are questioned less than preconceived notions about race, sexuality, and gender. Certain behaviors, whether attempting to delay aging with antiaging serums or outright mocking older people with "OK, boomer" memes, have been seen largely as privileges of the young rather than antagonistic. Ageism is associated with worsened physical and mental health, social isolation, loneliness, financial insecurity, and even early death. Forty is the age typically pinpointed as older in Silicon Valley, but in China, the threat looms, too, and workers speak of a "curse of 35," fearful that even reaching that age could lead to diminished career opportunities in tech.Even with the new data, there's a lot we don't know. Joanna Lahey, a professor of public policy at Texas A&amp;M University who studies age discrimination, says the report shows a correlation between youth and tech employment, but the exact cause is unclear. A lagging representation of older workers could come from discrimination in hiring, training, or retention. But it could also show that older workers are retiring while more young people are entering the workforce. "We don't know the true extent of the problem, and importantly, if there is a problem we do not know how to fix it," Lahey wrote in an email.But recent <a target="_blank" class="" href="https://www.businessinsider.com/laid-off-tech-job-hunt-given-up-2024-8">layoffs</a> have only heightened suspicions of ageism. More than 130,000 tech workers have been laid off worldwide this year, continuing a trend that began in 2022, according to Layoffs.fyi, a site that tracks job cuts in the tech industry. John Zeman, a former employee of X, then Twitter, is suing the company after he was laid off when <a target="_blank" class="" href="https://www.businessinsider.com/why-elon-musk-supports-donald-trump-election-save-tesla-disaster-2024-7">Elon Musk</a>, then 51, took over in November 2022 and gutted the staff. Zeman was 63 at the time, and his suit claims that 60% of workers at Twitter older than 50 were cut in the layoffs, compared with 54% of workers under the age of 50. In early September, a federal judge ruled the class-action lawsuit could move forward, finding that the allegations rose beyond "mere speculation."Attorneys for the plaintiffs and X did not respond to a request for comment. But these cases can be tricky; if the older workers were higher paid, for instance, the cuts might be defended with cost-saving reasons. Former workers at IBM had also sued the company, alleging people over 40 were laid off at higher rates than younger workers, but IBM has been able to block some of those claims (the company has denied engaging in "systemic age discrimination"). Cases like these are massive gambles: They could be major wins for holding tech companies accountable for ageist practices, or create a chilling effect that stops others from fighting in the courts.Sometimes ageism is overt, and other times it just leaves workers with an inkling. John Rizzo, a 60-year-old, says he has spent the past two years applying for jobs in product management, but he feels his age is the reason he's still unemployed. Rizzo says he has 450 versions of his résumé and has applied to more than 4,000 jobs. He does well on phone screens but says a recruiter's tone then seems to change once they get on a Zoom call and see his age. It's a hurdle to finding a tech job that he didn't have in the past. "It's heartbreaking," Rizzo says. "And for a long time, I thought it was me. I thought I was doing something wrong." He's done some work for a startup he cofounded and as a contractor for other companies, but he says he is also making ends meet by working as a security guard. Rizzo says the absence of experienced workers like him is a loss for tech companies. "Gen X built the tech industry," he says. "There's a ton of value there. There's a ton of experience there."The case for an intergenerational workforce isn't just moral — it's practical. A <a target="_blank" href="https://www.lse.ac.uk/tii/assets/documents/lse-generations-survey-report-global.pdf">recent study</a> by The Inclusion Initiative at The London School of Economics examining roughly 1,500 UK and US workers in tech, finance, and professional services found that employees at companies with age-inclusive work practices were twice as likely to be satisfied with their job and less than half as likely to look for new roles. These workers also reported feeling low levels of productivity less frequently. Combining workers from generations brings together people with different knowledge, perspective, and social networks, said Daniel Jolles, a behavioral-science researcher who worked on the research."When we have good diversity, we can get more productive outcomes under the right conditions," Jolles said. And that is the kind of argument that might catch the eye of business leaders. After all, they're not getting any younger, either.<a target="_blank" class="" href="https://www.businessinsider.com/author/amanda-hoover">Amanda Hoover</a> is a senior correspondent at Business Insider covering the tech industry. She writes about the biggest tech companies and trends.

Even millennials are getting too old to land a tech job

To gain something, <keyword id="20430890" type="General" weightage="20" keywordseo="Aman-Sehrawat" source="keywords">Aman Sehrawat</keyword> firstly needed to lose something. When the scales of the weighing machine showed 61.5 kg on Thursday after his semi-final defeat to eventual champion Rei Higuchi, Aman had a bigger job at hand before taking the mat for the <keyword id="20257145" type="General" weightage="20" keywordseo="bronze-medal" source="keywords">bronze medal</keyword> play-off. India's youngest <keyword id="19986816" type="General" weightage="20" keywordseo="Olympic" source="keywords">Olympic</keyword> bronze medal winning grappler had to shed 4.5 kilograms of bodyweight in a stipulated time of 10 hours before mandatory second day weigh-in to qualify for the 57 kg bout. By the time Aman was up on the weighing machine on second morning, he along with his coaches Jagmander Singh and Virender Dahiya had accomplished the mission -- reduced 4.6 kgs to be eligible for the fight at 56.9 kg. It was case being exactly 100 gram less than critical limit. If 100 gram became tragedy for Vinesh Phogat, it was a case of relief for Aman. On Thursday, Aman had lost his semifinal bout against Japan's Rei Higuchi around 6:30 pm. There was no time to waste. The 'mission' began with a one-and-a-half-hour mat session during which the two senior coaches engaged him in standing <keyword id="19908341" type="General" weightage="20" keywordseo="wrestling" source="keywords">wrestling</keyword> and it was followed by a one-hour hot-bath session. At 12:30 they hit the gym, where Aman had a non-stop one-hour run on the treadmill. The sweating would help in cutting weight. He was then given a 30-minute break, followed by five sessions of 5-minute sauna bath. By the end of the last session, Aman was still weighing 900g more. He was given a massage and then the coaches asked the Chhtrasal trainee to do light jogging. It was followed by five 15-minute running sessions. By 4:30am, Aman was weighing 56.9kg -- 100g less. The coaches and the wrestler heaved a sigh of relief. In between these sessions, Aman was given lukewarm water with lemon and honey and a bit of coffee to drink. Aman would not sleep after that. "I watched videos of wrestling bouts, the whole night." "We kept checking his weight every hour. We didn't sleep the whole night, not even during the day," said coach Dahiya. "Weight cutting is routine, normal for us but there was tension, a lot of tension due to what happened the other day (with Vinesh). We could not let slip another medal," said Dahiya. All the hard work came to a fruition when Aman won the bronze medal, beating Puerto Rico's Darian Cruz on Friday to become India's youngest ever Olympic medallist. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/brainbees-solutions-firstcry-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112403576.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/brainbees-solutions-firstcry-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112403576.cms" target="_blank">Brainbees Solutions (Firstcry) IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a>

Sparring, treadmill run, 5 sessions of Sauna: How Sehrawat lost 4.6 kg in 10 hours

<ul class="summary-list"><li>US stocks jumped on Tuesday, rebounding from Monday's sharp decline.</li><li>The S&amp;P 500 and Nasdaq 100 rose 1%, driven by investor fears of a potential recession subsiding.</li></ul>Investors were whiplashed Tuesday as stocks rebounded <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-crash-picks-up-recession-fears-carry-trade-unwind-2024-8">following Monday's sharp decline.</a>The S&amp;P 500 and Nasdaq 100 jumped about 1% in Tuesday's trading session, as investors grappled with whether <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-crash-carry-trade-yen-boj-interest-rates-selloff-2024-8">the unwind of the yen carry trade was a short-term technical factor.</a>Concerns of an imminent recession following the trigger of the Sahm Rule last week <a target="_blank" class="" href="https://www.businessinsider.com/sahm-rule-recession-unemployment-federal-reserve-interest-rates-cut-2024-8">were dismissed by the inventor of the rule,</a> former Fed official Claudia Sahm, who told Business Insider that the surge in the unemployment rate is being driven by an increase in labor supply rather than a decrease in labor demand."The US economy is still growing. We are still adding jobs. We are spending even after inflation," Sahm said.Meanwhile, Wall Street strategists said that the current decline in the stock market, with the S&amp;P 500 being down about 8% since its July record on Monday, <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-bear-decline-unlikely-only-3-signals-flash-2024-8">is completely normal.</a>"While such sharp declines in equity prices are concerning, looking back at historic data on the S&amp;P 500 index reminds us that dips, pullbacks and corrections of 10% or more are a normal and healthy part of any bull market. On average, stocks experience a pullback of over 5% over three times per year and a correction of 10% or more around once per year — even in positive years," LPL portfolio strategist George Smith said.The CBOE Volatility Index, better known as the VIX, plunged 29% on Tuesday. That decline signals that investors are using the past week's stock market decline as an opportunity to buy stocks.The gains on Tuesday were broad-based, with four sectors printing gains of about 2% or more. Shares of <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia</a> and <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/META-stock">Meta Platforms</a> surged about 4%, while <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/lly-stock">Eli Lilly</a> and <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/brk-b-stock">Berkshire Hathaway</a> jumped about 2%.<a target="_blank" class="" href="https://markets.businessinsider.com/stocks/gs-stock">Goldman Sachs</a> CEO David Solomon swatted down the idea of emergency interest rate cuts from the Federal Reserve, as he doesn't see an imminent recession on the table."I don't expect that you'll see anything before September," <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-08-06/solomon-says-fed-will-forgo-emergency-cut-despite-weak-jobs-data">Solomon said of a Fed interest rate cut.</a> "The economy will chug along and we probably won't see a recession."Here's where US indexes stood at the 4:00 p.m. closing bell on Tuesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,240.03, 1.04% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 38,997.66, up 0.76% (+294.39 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 16,366.85, up 1.03% </li></ul>Here's what else happened today:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-bear-decline-unlikely-only-3-signals-flash-2024-8">Bank of America strategist Savita Subramanian said the S&amp;P 500 is unlikely to enter a bear market anytime soon.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/buy-defensive-stocks-to-weather-historic-stock-market-volatility-bofa-2024-8">These are the sectors and stocks investors should consider buying during the current stock market volatility, according to BofA.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/fed-rate-cuts-recession-outlook-emergency-cut-economy-el-erian-2024-8">Top economist Mohamed El-Erian said an emergency interest rate cut from the Fed would be a mistake.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/business-leaders-respond-kamala-harris-selects-tim-walz-vp-2024-8">Vice President Kamala Harris selected Minnesota Governor Tim Walz as her running mate for the upcoming Presidential election.</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil rose 0.33% to $73.18 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, increased 0.21% to $76.46 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> was lower by 0.65% to $2,428.40 per ounce.</li><li>The 10-year Treasury yield rose 9 basis points to 3.89%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> jumped 4.80% to $56,626.</li></ul>

Stock market today: Indexes jump as traders try to rebound from Monday's losses

New Delhi: <keyword id="21530712" type="General" weightage="100" keywordseo="Ola-Founder-Bhavish-Aggarwal" source="keywords">Ola Founder Bhavish Aggarwal</keyword> is placing bold bets on new-age technologies with a view for <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> to be at the forefront of the current global <keyword id="22912054" type="General" weightage="20" keywordseo="tech-transition" source="keywords">tech transition</keyword> led by AI, and build <keyword id="22912488" type="General" weightage="20" keywordseo="jobs-of-the-future" source="keywords">jobs of the future</keyword> in the country. In an interaction with PTI editors at the agency's headquarters here, he said the private sector has to do the bulk of job creation, step up and do more, while creating an enabling environment and correcting imbalances, such as that of trade, are the responsibility of the government. Aggarwal also supported the government's move to offer fiscal incentives to global EV makers, including Tesla, through the new EV policy saying it is important for India to attract all kinds of investment, and globally established players will help in the development of the EV ecosystem in the country. The group's newly-listed entity <keyword id="19945904" type="General" weightage="20" keywordseo="Ola" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola" meta.hostid="83" meta.entityid="Ola">Ola</keyword> Electric aims to make India a global electric vehicle (EV) hub but the country has to invent an EV and energy transition paradigm for itself based on its needs as the world cannot achieve a sustainable future without India, he added. "There is a global technology transition happening and AI is a very important technology of the future, and we in India need to lead this journey. If you look at the current state, I think we are still adopters of somebody else's technology paradigms, especially in the digital world," Aggarwal said, explaining why the Ola group had set up AI start-up Krutrim last year. One of the things in Krutrim is to build AI models on Indian data, which is more attuned to Indian use cases, Indian paradigms, he said, adding, "We are making our own AI, on our own cloud, on our own chip." Despite India producing 20 per cent of the world's digital data at present, he lamented that the country does not fully own the data, as 80 per cent are stored outside, which are then processed into AI and "brought back into India and sold to us in dollars". When asked about concerns over AI leading to job losses, he allayed the apprehension saying that the IT boom created jobs in India when people feared that computers would take away jobs, and AI is a similar tool. "AI is not going to replace anyone. Maybe that future is a few decades away... We don't need to get anxious about that future right now. We need to, as a country, see that AI is going to amplify productivity. If we don't get onto the bandwagon, we will be left behind...," he asserted. In his view, Aggarwal said the way forward is for India to become experts in future technology. "Future technologies bring with it jobs of the future, supply chain of the future. And if we are global leaders, we are the fastest adoptive market of future technologies (then) jobs of the future will be built in India, supply chains of the future will be built in India. This is the only way... If we focus on protecting the past, you remain uncompetitive," he added. Sharing his take on employment generation in India, Aggarwal said, "I actually believe the private sector has to do the bulk of the job creation. The government's job is to create the enabling environment, create the fundamentals, help correct imbalances wherever they are, be it trade imbalances, etc and incentivise wherever it needs to be incentivised, like the PLI schemes." The government's steps such as the employment-linked incentives will also encourage private industry, he said, adding "But fundamentally the private sector has to step up and do more". Asked if the government is doing enough to create that ecosystem for the private sector, Aggarwal said, "I'm not in the government, so I want to put the limelight on ourselves. Is the private sector doing enough? I think we all can do more, and I'm on the same page. We all need to do more." In response to a query on his views over the government in extending the fiscal concession that companies like Tesla have been demanding from India, he said, "It is very important for India to attract all kinds of investment, especially (from) world leading companies. "Tesla is a best in class company. The more companies like these invest into India, the better it is for India, in a broad sense as well for the industry." He further said, "The (EV) ecosystem, including my company, will benefit from it, because it will raise the bar on expertise, on excellence, on talent, everything..." About the newly-listed entity Ola Electric, he said, "Our mission at Ola electric is to really make India a global EV hub." The company will build products such as electric two and three-wheelers that Indians need for the country to be able to invent an EV and energy transition paradigm for itself, different from the current global solution for sustainability that is focussed on electric luxury cars, Aggarwal added. On Ola Consumer, he said the ride-hailing mobility vertical is fairly profitable, while it is investing into the new e-commerce for which it has partnered with ONDC.

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