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After 26 years as a banker at <keyword id="48670" type="CITY" weightage="20" keywordseo="Morgan-Stanley">Morgan Stanley</keyword> and then <keyword id="6361649" type="CITY" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword>, Richard (Rick) Kimball decided to switch gears and enter Stanford’s Distinguished Careers Institute, a yearlong executive education program. From his experience, Kimball launched HEXL, an innovative healthcare company that aims to transform primary care physician practices both clinically and financially. A member of Young Presidents’ Organization since 2010, he shares leadership insight about trends and challenges in the industry, the best advice he has received, and more.<br />
 <br />
<strong>What was your first job or business?</strong><br />
Being an analyst at Morgan Stanley.<br />
 <br />
<strong>What is one must-read book for business leaders?</strong><br />
“Our Iceberg is Melting” by John Kotter. John Kotter has thoughtfully and cleverly explained his model for effecting major and sustainable organizational change through a compelling and accessible parable. He tells the story of a young penguin who believes that the penguin clan’s iceberg is melting and it will collapse with the penguins inside. The young penguin masterfully builds support to move to another iceberg and cleverly executes Kotter’s eight step change management strategy. As I work on systemic change to the broken US healthcare system, I found this book to be instructive and engaging.<br />
 <br />
<strong>Complete the sentence: “If I wasn’t a business leader, I would be…”</strong><br />
If I wasn’t a business leader, I would be an engineer because I love designing and building things.<br />
 <br />
<strong>What is the most difficult leadership lesson you’ve learned?</strong><br />
That the fastest road to success isn’t about assembling smart people and working hard but rather engaging people in a bigger ideal then themselves and positively engaging people to work as a team.<br />
 <br />
<strong>Who are your business role models?</strong><br />
Dick Fisher, former CEO of Morgan Stanley; Howard Schultz, chairman and CEO of Starbucks; and Richard Branson, founder of Virgin Group.<br />
 <br />
<strong>What is the best piece of leadership advice you have received?</strong><br />
Don’t let the momentum of a certain situation carry you into a bad decision. Be prepared to make midcourse corrections even if that is disruptive and unpopular.<br />
 <br />
<strong>What is a top trend you’re seeing now in your industry?</strong><br />
The massive shift of the healthcare system from fee for service to value based reimbursement.<br />
 <br />
<strong>What is the top challenge for business leaders today?</strong><br />
To transcend the short term and selfish aspects of money and the ego to discover ethical, win-win, long term solutions for the all stakeholders including our entire society and global population.<br />
 <br />
<strong>What is one thing on your bucket list?</strong><br />
To go an African safari (I can’t believe I haven’t been yet!).<br />
 <br />
<strong>What are the Top 3 insights you’d like to share? </strong><br />
 <br />
1.     The dysfunctional healthcare industry in the U.S. creates long term risks to our society as costs remain out of control and the health of the population deteriorates. The entrenched interests of the hospitals and insurance companies have resisted change. The change will need to come from doctors and patients wanting to align interests to drive better outcomes, lower costs and better accessibility of care.<br />
<br />
2.     Sugar is the silent killer in this country. The packaged foods industry responded to the anti-fat crusade by replacing fat with sugar in foods. Food packaging doesn’t show the U.S. recommended daily allowance (RDA) of sugar on food packaging. My son recently showed me his can of root beer that has 72 grams of sugar in one can despite the U.S. RDA of approximately 20 grams of sugar per day.<br />
<br />
3.     We seem to have lost our moral compass in so many industries in the U.S. Having spent 26 years in investment banking, I witnessed many examples of misaligned interests that is causing perverse behavior and disrupting the creation of efficient markets.<br />
<br />
<strong>How has being in <keyword id="852310" type="ORGANIZATION" weightage="20" keywordseo="YPO">YPO</keyword> positively affected your business or leadership?</strong><br />
<br />
YPO has connected me with so many dynamic business leaders in a deep and profound way. It has offered a chance as reflection and shared experiences which is invaluable to professional and personal growth.<br />
<br />
(The author of this article is Jovie Baclayon, YPO Director of Social Media)<br />

CEO Insight: 11 Questions With Rick Kimball

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Memphis Meats</span></p><p class="caption">Memphis Meats CEO Uma Valeti (centre) and his team.</p></div><p></p></div></div></p><p>Some of the world's richest people think that one day you'll be eating chicken, duck, and beef that's been grown in a lab.</p><p>Bill Gates, Richard Branson, Twitch cofounder Kyle Vogt, and Kimbal Musk - brother of Elon Musk - are among several high-profile backers of Memphis Meats, a San Francisco startup which develops meat from stem cells.</p><p>The company has raised a $17 million (£13.3 million) Series A round led by DFJ.</p><p>Food giant Cargill, venture capital firm Atomico, New Crop Capital, SOSV, Fifty Years, KBW Ventures, Inevitable Ventures and author Suzy Welsh all joined the round.</p><p>The new round brings Memphis Meats' total funding to $22 million (£17 million).</p><p>The company was founded in 2015 by cardiologist Uma Valeti, stem cell researcher Nicholas Genovese, and tissue engineer Will Clem. Like several other lab-grown meat startups that have popped up over the last three years, Memphis Meats is trying to reduce the world's reliance on meat, since it's so environmentally unsustainable.</p><p>It faces competition from startups like Hampton Creek, plant-based meat firm Impossible Foods, and Mosa Meat.</p><p>Memphis Meats hopes to have a viable lab-grown meat product available to consumers within the next five to six years, said Carolina Brochado, venture partner at Atomico. The company <a href="http://uk.businessinsider.com/memphis-meats-chicken-lab-grown-2017-3" target="_blank" rel="noopener noreferrer">unveiled the first lab-grown chicken earlier this year.</a></p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Memphis Meats</span></p></div><p></p></div></div></p><p>"They are the ones closest to producing a different kind of meat - red meat, duck, chicken," she told Business Insider. "Adding things like texture is very hard to do technically. And replicating how meat tastes is important."</p><p>Given most people would still balk at eating lab-grown meat regularly, she added Memphis Meats was considering pop-up shops around the time of their next venture round to get people trying the product.</p><p>Valeti said in a statement:"The world loves to eat meat, and it is core to many of our cultures and traditions. Meat demand is growing rapidly around the world. We want the world to keep eating what it loves.</p><p>"However, the way conventional meat is produced today creates huge problems for the environment, animal welfare and human health. These are problems that everyone wants to solve, and we can solve them by bringing this incredible group of partners under one tent. This group will help us accelerate our progress significantly."</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/apple-ios-11-location-app-browsing-privacy-2017-8">Apple's upcoming iPhone OS is taking major steps to protect your privacy - here's how</a></h3>        <div>                    </div>    </div>

Bill Gates and Richard Branson backed a food startup which grows meat in labs

<ul class="summary-list"><li>Lawyers who argued against Elon Musk's multibillion-dollar pay package asked for $6 billion in fees.</li><li>Tesla shareholders voted to re-approve Elon Musk's massive multibillion-dollar pay package.</li></ul><p>A Delaware judge still wants to consider a $6-billion request in legal fees from lawyers who shot down <a target="_blank" href="https://www.businessinsider.com/judge-strikes-down-elon-musk-tesla-compensation-pay-package-2024-1">Elon Musk's multibillion-dollar pay package at Tesla</a> regardless of the recent shareholder vote, court documents show.</p><p>In January, <a target="_blank" href="https://www.businessinsider.com/judge-in-twitter-elon-musk-trial-could-be-musk-nightmare-2022-7">Chancellor Kathleen McCormick of the Delaware Chancery Cour</a>t ruled against Elon Musk's pay package that would've awarded the Tesla CEO more than $55 billion in stock at the time.</p><p>"The process leading to the approval of Musk's compensation plan was deeply flawed," McCormick wrote in her ruling, pointing to a conflict of interest at Tesla's board, which decides the pay plan and includes Musk's brother as a member.</p><p>With the outcome, lawyers representing <a target="_blank" href="https://www.businessinsider.com/tesla-shareholder-richard-tornetta-elon-musk-pay-heavy-metal-drummer-2024-2">Richard Tornetta</a>, the Tesla shareholder who objected to the compensation plan, argued that they provided a valuable service in getting Musk's package rescinded. That value? <a target="_blank" href="https://www.businessinsider.com/elon-musk-delaware-tesla-pay-package-lawyers-six-billion-stock-2024-3">About $6 billion worth of Tesla shares</a>. </p><p>Musk, at the time, called the request "criminal."</p><p>But Musk received some good news in June after<a target="_blank" href="https://www.businessinsider.com/elon-musk-pay-package-approved-tesla-shareholders-vote-results-2024-6"> shareholders voted to re-approve the CEO's pay package</a> and maintain the current board structure with Kimbal and James Murdoch.</p><p>The <a target="_blank" href="https://www.businessinsider.com/elon-musk-isnt-out-of-woods-tesla-pay-package-2024-6">vote doesn't immediately reinstate his pay plan,</a> but it gives an additional boost to Tesla's attorneys' arguments.</p><p>Accordingly, Tesla's defense team filed a motion on June 20 that argued the shareholder's ratification vote vindicates Musk's stock options award.</p><p>"Defendants contend that the consequences of the Ratification alter the course of this litigation and any relief that is potentially available (and relatedly, any attorneys' fees that may be awarded to Plaintiff's Counsel)," Tesla's attorneys wrote.</p><p>Chancellor McCormick will have to decide on the fate of the package and whether the plaintiff's attorneys <em>do</em> deserve about $6 billion in legal fees.</p><p>In response to Tesla's defense team's motion, McCormick wrote in a filing that she wants to hold a hearing on the legal fees without considering the shareholder vote since a separate meeting will be held to consider the impact of that vote.</p><p>"Given that we will hold a separate oral argument devoted solely to the questions raised by the stockholder vote, for the purposes of the July 8 hearing, the parties are instructed to argue the points at issue without regard to the stockholder vote," McCormick wrote. "All arguments concerning the stockholder vote will be deemed preserved."</p><p>James Park, a securities regulation expert at the University of California, Los Angeles, told Business Insider that the impact of the shareholder vote is crucial to consider the overall value of the litigation that struck down the pay in the first place.</p><p>"My only thought is that the defendant is correct that it would be difficult to evaluate the benefit of the litigation, which is necessary to evaluate the fee request, without considering the impact of the shareholder ratification vote," he wrote in an email.</p><p>Park said that McCormick's response likely indicates that she's "preserving her options."</p><p>Attorneys for Tesla and Tornetta, the plaintiff, did not respond to a request for comment.</p>

Judge will consider $6 billion legal fees for lawyers who voided Elon Musk's multibillion pay package

<ul class="summary-list"><li>Richard Tornetta sued Tesla in 2018 over Elon Musk's $55 billion compensation plan.</li><li>The Tesla shareholder is a former heavy metal drummer for the thrash-metal band Dawn of Correction.</li></ul><p>The Tesla shareholder who <a target="_blank" href="https://www.businessinsider.com/judge-strikes-down-elon-musk-tesla-compensation-pay-package-2024-1"><u>won a dramatic legal victory</u></a> that denied Elon Musk his $55 billion compensation package used to be a heavy metal drummer.</p><p><a target="_blank" href="https://www.youtube.com/watch?v=-4XI33KQIi8"><u>Videos posted on YouTube</u></a> show Richard Tornetta, who sued Tesla in 2018 over what he argued was an excessive pay plan, drumming for Dawn of Correction, a thrash-metal outfit that broke up in 2009.</p><p>The band released a single album, "Dead Hand Control," in 2008 and described its sound as "a swift kick to the face with a steel-toed work boot," <a target="_blank" href="https://www.reuters.com/business/autos-transportation/elon-musk-bashed-by-heavy-metal-drummer-who-cost-him-56-bln-2024-02-01/"><u>Reuters reported</u></a>.</p><p>Musk would likely be tempted to describe the Delaware Court's judgment in similar terms. The billionaire <a target="_blank" href="https://twitter.com/elonmusk/status/1753271394408829106">raged against the ruling</a> that found his $55 billion compensation package had been unfairly awarded on X, and is seeking to <a target="_blank" href="https://www.businessinsider.com/elon-musk-start-shifting-tesla-state-incorporation-to-texas-2024-2"><u>move the company's state of incorporation to Texas</u></a>.</p><p>"Never incorporate your company in the state of Delaware," Musk <a target="_blank" href="https://twitter.com/elonmusk/status/1752455348106166598"><u>wrote on X</u></a> shortly after the decision was announced.</p><p>Tornetta sued Tesla over Musk's massive pay package in 2018, arguing that the Tesla CEO had influenced the board's decision through his close personal relationships with its members, which includes his brother Kimbal.</p><p>At the time, he owned nine shares in the company, Reuters reported.</p><p>Tesla argued that the compensation plan, which the Delaware judge noted was the largest in public corporate history, was <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-pay-package-compensation-salary-not-typical-ceo-2022-10"><u>necessary to maintain Musk's focus on the company</u></a>.</p><p>It failed to convince the judge, however, who described the package as <a target="_blank" href="https://www.reuters.com/legal/judge-rules-favor-plaintiffs-challenging-musks-tesla-pay-package-2024-01-30/"><u>"an unfathomable sum"</u></a> that was unfair to shareholders. The EV maker will need to develop a new compensation plan for Musk, although it can appeal.</p><p>Tornetta could not be reached for comment. Tesla did not immediately respond to a request for comment from Business Insider, made outside normal working hours.</p>

The Tesla shareholder who denied Musk his $55 billion payday is a former heavy metal drummer 

Elon Musk lawsuits: All the biggest cases and investigations facing Tesla, SpaceX, and the billionaire CEO himself

<p class="source"><span>Neil Rasmus/Patrick McMullan via Getty; Michael Loccisano/Getty Images/Business Insider</span></p><ul class="summary-list"><li>Multi-millionaire sex criminal Jeffrey Epstein introduced Kimbal Musk, Elon's brother, to a woman in his entourage, two sources tell Business Insider.</li><li>The woman, who had previously dated Epstein and lived in an apartment building where he was known to house models, dated Kimbal Musk from 2011 to 2012.</li><li>Though the relationship was by all accounts genuine, the sources say Epstein hoped it would open doors to Elon Musk and his companies.</li><li>Epstein and his entourage were granted a private tour of Musk's SpaceX facility in Hawthorne, Calif., in 2012.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet" target="_blank" rel="noopener">Visit Business Insider's homepage for more stories</a>.</li></ul><p>When word got out last year that disgraced multi-millionaire Jeffrey Epstein had been known to fraternize with Silicon Valley moguls, Tesla and SpaceX founder Elon Musk was <a href="https://www.vanityfair.com/news/2019/07/jeffrey-epstein-case-grows-more-grotesque">quick to release a statement</a> minimizing their relationship: He'd attended a dinner organized by LinkedIn founder Reid Hoffman where Epstein was present, he said, and "was at his house in Manhattan for about 30 minutes in the middle of the afternoon" at the urging of his then-wife Talulah Riley, who wanted to meet him "for a novel she was writing." He was "obviously a creep," Musk <a href="https://www.vanityfair.com/news/2019/07/jeffrey-epstein-case-grows-more-grotesque">told Vanity Fair</a>.</p><p>But the social connection between Epstein and Musk may be more complicated than that, Business Insider has learned. Jeffrey Epstein was in regular contact with Elon's brother Kimbal Musk, the tech millionaire turned restaurateur who serves on the boards of his older brother's companies Tesla and SpaceX, according to two people familiar with their relationship. </p><p>It's unclear how Epstein and Kimbal Musk met initially, but they saw each other occasionally because Kimbal was dating a woman in Epstein's entourage at the time, the people said. The woman had previously dated Epstein himself, and lived in an apartment building that Epstein's brother owned <a href="https://www.businessinsider.com/the-nyc-building-at-the-center-of-jeffrey-epsteins-web-2019-8">and which Epstein had used to house people close to him</a>, including models from Eastern Europe.</p><p><em><strong>Do you have a story to share about Epstein or Musk? </strong>Contact Business Insider's tip line via encrypted messaging app Signal at (646) 768-4744 using a nonwork phone, or email at <a href="mailto:bpeterson@businessinsider.com">bpeterson@businessinsider.com</a> or Twitter DM at <a href="http://www.twitter.com/beckpeterson">@beckpeterson</a>.</em></p><p>The couple, who dated from 2011 to 2012, was set up by Epstein himself, the sources said. Their relationship brought Epstein into contact with the Musk family and their businesses, and highlights how the convicted pedophile may have used the women in his inner circle to develop strategic relationships with prominent people in the world of tech and business.</p><p>"It almost seemed a little more transactional," said one source familiar with the couple. "The rumor has always been that Epstein facilitated introductions to beautiful women, looking for deal flow or access to capital. And the provenance of [Kimbal Musk's relationship to the woman] was right down the path of that."</p><p>By all appearances, Kimbal's relationship with the woman was genuine despite her continued financial ties to Epstein and his role in their introduction. The woman was going through an emotional rough patch before she met Kimbal, one of the people said, and the pair had shared interests.  </p><p>Kimbal Musk <a href="https://www.wsj.com/articles/SB919181288287063500">made his millions</a> in the Dot-Com boom alongside his brother by selling their online city guide company, Zip2, to Compaq for $300 million in 1999. He served as CEO of the ad-tech company OneRiot until 2010, <a href="https://www.eater.com/2016/6/29/12013076/kimbal-musk-restaurant-new-kitchen-kitchenette">when he broke his neck</a> in a snow tubing accident and resigned to focus on the food industry.</p><p>By 2011, he was a full-time restaurateur and head of what would eventually become Big Green, a non-profit that teaches students about healthy eating and gardening. </p><p>Representatives for Kimbal Musk did not respond to multiple requests for comment.</p><p>The woman, an American, was in <a href="https://www.businessinsider.com/jeffrey-epstein-entourage-marriages-2019-8">one of the three couples</a> that sources say Epstein directed to enter into same-sex marriages as part of a scheme to keep some of Epstein's foreign-born girlfriends inside the country, Business Insider reported in August. She was also named as a beneficiary of an irrevocable trust created by Epstein that at one point totalled $50 million, Business Insider <a href="https://www.businessinsider.com/jeffrey-epstein-considered-marrying-24-year-old-daughter-of-glenn-dubin">reported in December</a>.</p><p>The woman has not come forward publicly, and because she may be a sex trafficking victim, Business Insider is not naming her. She could not be reached for comment for this story. </p><p>Epstein was found dead in a Manhattan jail cell last year while awaiting trial on sex trafficking charges. His death was ruled a suicide. Epstein's lawyers could not be reached for comment.</p><p>Epstein has set up at least one other ex-girlfriend with a powerful man. He introduced his former girlfriend Eva Andersson, who was once Miss Sweden, to hedge fund billionaire Glenn Dubin in the early 1990s. The couple married and have three children. Epstein later told associates that he had considered marrying their daughter, Celina Dubin, so that she could inherit his fortune, <a href="https://www.businessinsider.com/jeffrey-epstein-considered-marrying-24-year-old-daughter-of-glenn-dubin">Business Insider reported in December.</a> Celina Dubin was also briefly named as a beneficiary of the same trust as the woman who dated Kimbal Musk. (Dubin was unaware of the trust's existence, according to a spokesperson, and she never received any payments from it. There is no indication that Epstein and Celina Dubin had a romantic relationship.)</p><h2>A birthday party with a banker's daughter</h2><p>The relationship gave Epstein an opportunity to get close to both Kimbal and his more successful brother. Epstein was invited to attend Kimbal's fortieth birthday party in New York City in September 2012, according to one of the sources familiar with the relationship. Epstein ultimately did not attend that party, though members of his entourage did.</p><p>It was the day after the birthday party, that Elon Musk and his then-wife Talulah Riley visited Epstein at his home in New York City, the person said.</p><p>According to emails reviewed by Business Insider, one of the people who was invited to the party at Epstein's request was Alexa Staley, the daughter of Barclays CEO James E. "Jes" Staley. She was 23 at the time and working on her PhD in physics at Columbia University.</p><p>Her father was a longtime business associate of Epstein. When Jes Staley worked in the personal banking division of JPMorgan, <a href="https://www.nytimes.com/2019/07/22/business/jeffrey-epstein-business-wall-street.html">according to The New York Times</a>, Epstein referred dozens of wealthy clients to him. After Epstein pleaded guilty in Florida to soliciting a minor in 2008, Jes Staley visited the Palm Beach office where Epstein spent his days while out on work release.</p><p>The Staleys, through a spokesperson for Barclays, declined to comment for the record.</p><p class="source"><span>Kevin Mazur/VF14/Contributor/Getty Images</span></p><p class="caption">Musk and Maxwell were photographed at an Oscars after-party hosted by former Vanity Fair editor Graydon Carter on March 2, 2014 in West Hollywood.</p><h2><strong>Epstein took an exclusive tour of SpaceX</strong></h2><p>A few days before the birthday party, the source said, Kimbal had arranged for Epstein and members of his entourage to receive a private tour of the Hawthorne, California factory for SpaceX, the rocket company founded by Elon.</p><p>It's unclear whether Elon or Kimbal were present for the tour.</p><p>The week of the tour, Epstein was in Los Angeles to attend the WWW conference, a one-time event organized by Richard Saul Wurman, the founder of the TED conference and symposium franchise. </p><p>The WWW conference featured music from cellist Yo-Yo Ma and several speakers who have been <a href="https://www.theverge.com/2019/7/13/20692415/jeffrey-epstein-scientists-sexual-harassment">previously linked</a> to Epstein, including "Simpsons" creator <a href="https://www.businessinsider.com/inside-jeffrey-epstein-accuser-virginia-roberts-unsealed-memoir-2019-8">Matt Groening</a>, scientists <a href="https://www.businessinsider.com/bill-gates-connections-jeffrey-epstein-mit-donations-ronan-farrow-2019-9#gates-has-been-close-with-epsteins-other-famous-friends-including-the-scientist-steven-pinker-4">Steven Pinker</a> and <a href="https://www.theverge.com/2019/7/13/20692415/jeffrey-epstein-scientists-sexual-harassment">Lisa Randall</a>, and MIT Media Lab founder Nicholas Negroponte, who <a href="https://www.technologyreview.com/s/614264/mit-media-lab-jeffrey-epstein-joi-ito-nicholas-negroponte-funding-sex-abuse/">faced criticism</a> for urging his successor Joi Ito to take funding from Epstein. </p><p>Epstein was listed as a sponsor for the conference, which took place from September 18 to 20, 2012, alongside General Electric and William R. Hearst III, according to the captions on <a href="https://www.youtube.com/watch?v=k7PHk02pxys">YouTube videos of talks from the event</a>. The captions were edited to remove Epstein's name after Business Insider reached out to RadicalMedia, which produced the videos under contract for WWW, for comment.</p><p>Epstein's involvement with the WWW conference has not been previously reported.</p><h2><strong>Elon Musk denies that Epstein advised Tesla</strong></h2><p>It's unclear whether Epstein had any business with Tesla or SpaceX, or invested in the companies. Epstein told New York Times reporter James B. Stewart, who <a href="https://www.nytimes.com/2019/08/12/business/jeffrey-epstein-interview.html">met with him in 2018 </a>to discuss a rumor that Epstein was creating a list of possible new board members for Tesla, that he had advised Elon Musk but couldn't discuss it publicly because his reputation is "radioactive." </p><p>A spokesman for Elon Musk told the Times that it was "incorrect to say that Epstein ever advised Elon on anything." </p><p>The men have dined together at least twice: In addition to the dinner organized by Reid Hoffman that Musk and Epstein both attended, <a href="https://www.buzzfeednews.com/article/peteraldhous/jeffrey-epstein-bezos-musk-billionaires-dinner">BuzzFeed uncovered photos</a> from a 2011 dinner in Long Beach as part of Edge, an exclusive dinner club for intellectuals founded by literary agent John Brockman. </p><p>Among the guests at that dinner were Elon Musk and Epstein, as well as Amazon CEO Jeff Bezos and Google cofounder Sergey Brin, who were all in town for the TED conference, according to the report. It's unclear whether Wurman, who himself is <a href="https://www.edge.org/memberbio/richard_saul_wurman">listed as a member</a> on Edge.org, was present at that particular dinner. Wurman did not respond to a request for comment.</p><p>Elon Musk, Tesla and SpaceX did not respond to requests for comment.</p>            <h3>NOW WATCH: <a href="https://www.businessinsider.com/hilton-disney-marriott-hotel-soaps-recycled-2019-12">How Hilton, Marriott, and Walt Disney Resorts recycle and donate used hotel soaps</a></h3>

Jeffrey Epstein set Elon Musk's brother up with a girlfriend in effort to get close to the Tesla founder, sources say

<p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><ul><li><strong>President Donald Trump's fiery tweet in which he touted a "bigger &amp; more powerful" nuclear button prompted swift backlash from national-security experts, lawmakers, and former government officials on Tuesday night.</strong></li><li><strong>Critics said Trump's remarks were juvenile, and others called for his resignation.</strong></li></ul><p><br>President Donald Trump's tweet in which he rhetorically touted a "<a href="http://www.businessinsider.com/trump-nuclear-button-north-korea-threat-2018-1" target="_blank" rel="noopener">bigger &amp; more powerful</a>" nuclear button sparked backlash from many national-security experts and lawmakers Tuesday, fueling worries of about an escalating nuclear crisis and calling into question Trump's fitness as president.</br></p><p>Trump continued Tuesday's Twitter tirade on an assortment of different topics after returning to the White House from a holiday break at his Mar-a-Lago resort in south Florida. His tweet that rankled critics appeared to reference North Korean leader Kim Jong Un's <a href="http://www.businessinsider.com/kim-jong-un-touts-nuclear-button-on-his-desk-taunts-the-us-2017-12" target="_blank" rel="noopener">televised speech</a> on New Year's Day, in which Kim alluded to a "nuclear button" that he said was "always on my desk."</p><p>"North Korean Leader Kim Jong Un just stated that the 'Nuclear Button is on his desk at all times,'" Trump said on Twitter. "Will someone from his depleted and food starved regime please inform him that I too have a Nuclear Button, but it is a much bigger &amp; more powerful one than his, and my Button works!"</p><p>Critics immediately called Trump's words juvenile and others even called for his resignation:</p><p>"Why would you want to goad this unpredictable leader of North Korea to maybe demonstrate his capabilities," <a href="https://twitter.com/AC360/status/948363847127175168" target="_blank" rel="noopener">asked</a> Rep. Jim Himes of Connecticut during an interview on CNN. "We've gotten to a place, a very weird place, where it really doesn't matter what the President of the United States says anymore, because it is so bizarre, strange, not true, infantile."</p><p>President George W. Bush's chief White House ethics lawyer Richard Painter also did not mince words:</p><p>Other former US officials and political operatives weighed in, making light of some undertones in Trump's tweet:</p><p>Matthew Gertz at Media Matters noted that <a href="https://twitter.com/MattGertz/status/948358498462650369">Trump's tweet&#xa0;came 12 minutes after Fox News aired a segment</a>&#xa0;on&#xa0;Kim Jong Un's remarks, which the North Korean leader had made nearly 24 hours earlier.</p><div></div><div></div><div></div><div></div><div></div><div></div><div></div>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/f-22-most-dangerous-jet-fighter-20-years-united-states-air-force-2017-9">Watch the F-22 in action - the most dangerous jet fighter in the US Air Force for the last 20 years</a></h3>        <div>                    </div>    </div></hr>

'Put this lunacy in check': Trump's fiery tweet sparks swift backlash

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://www.facebook.com/memphis.meats/photos/a.1655465484720461.1073741829.1642791339321209/1837471719853169/?type=3&amp;theater">Memphis Meats/Facebok</a></span></p><p class="caption">Uma Valeti and Chef Derek Sarno present meals by Memphis Meats. Valeti recently graced the cover of Inc. magazine.</p></div><p></p></div></div></p><ul><li><strong>Silicon Valley's startup scene is highly competitive, with more than 33,000 existing startups and new ones sprouting up daily.</strong></li><li><strong>Arvind Gupta is the founder of a fast-growing biotech incubator that funded meat alternative startup Memphis Meats, which is now backed by Bill Gates and Richard Branson.</strong></li><li><strong>Gupta's accelerator <a href="https://indiebio.co/">IndieBio</a> gives startups $250,000 in seed funding as part of a 4-month incubation program. He looks for three main traits in a startup before he commits.<br /></strong></li></ul><p>Arvind Gupta, the founder of a fast-growing Silicon Valley biotech incubator called <a href="https://indiebio.co/">IndieBio</a>, couldn't care less about a startup's lofty vision for the future.</p><p>IndieBio funded <a href="http://www.memphismeats.com">Memphis Meats</a>, a lab-grown meat startup founded by Uma Valeti that now has backing from Bill Gates, Richard Branson, Twitch cofounder Kyle Vogt, and Elon Musk's brother, Kimbal Musk. Two food giants - Tyson Foods and Cargill - are other notable backers. The startup burst onto the Silicon Valley startup scene - which now numbers more than 33,000 - in 2015.</p><p>The most important piece of advice Gupta gave Valeti involved dissuading him from focusing too much on his dreamy long-term vision of reducing waste and saving the planet from climate change. Instead, Gupta frequently encouraged him to talk about the goals his company had already accomplished, such as making real meat without a single farm animal.</p><p>It is an approach that Gupta encourages with all of the startups in his ecosystem, which is now in its third year and sixth class of companies.</p><p>"Your pitches won't sell your company," Gupta told Business Insider during a recent meeting at IndieBio's headquarters in San Francisco's Civic Center district. "Don't talk about what you're going to do. Talk about what you've done."</p><p>The startups that Gupta has helped fund range from drug companies to startups focused on lab-grown meat. Most recently, IndieBio welcomed a spate of early-stage companies focused on neuroscience, including <a href="http://nuro.ca/">NURO</a>, a Canadian startup that's creating a brain machine interface for locked-in patients, and <a href="https://neurocarrus.com/">Neurocarrus</a>, which is focusing on a non-opioid drug for severe pain.</p><p>Here are the highlights that Gupta looks for in a startup. Together, he said these items form the basis of what he calls IndieBio's "secret sauce" for startup success.</p><h2>Home in on a niche issue</h2><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Memphis Meats</span></p><p class="caption">A Memphis Meats "chicken" strip.</p></div><p></p></div></div>Startups often have ambitious goals - from linking our brains to our computers to regenerating limbs - but focusing too much on long-term aspirations can cripple a team's progress, Gupta said.</p><p>"Saying you're just going to show up on Mars is a great dream, but you need to solve a lot of smaller issues first," Gupta said.</p><p>Instead of paying too much attention to a far-off target, Gupta advises finding a discreet problem and homing in on a creative, valuable solution to that. With Memphis Meats, for example, the ultimate goal was reduced waste. But the smaller problem was meat that doesn't require barn houses full of animals.</p><h2>Give the hardest workers the most equity</h2><p>One of the most powerful lessons Gupta learned early on with IndieBio was that if the people who aren't putting in the most work aren't also getting the most equity, it can squelch their chances of success.</p><p>One company he funded several years ago, for example, got a complex term sheet from an investor. Rather than agreeing on a solution, the team argued over the details until they eventually split up. He said the main problem was that the people who'd worked the hardest at making their product a reality weren't valued the most within the company. As a result, they had no real voice and couldn't lead the company toward the best solution.</p><h2>Create something with real value</h2><p>Besides ensuring your company is ideologically focused and financially balanced, Gupta said a startup needs to create a product that generates value for consumers.</p><p>With that in mind, he encourages companies to talk to potential investors about what they've already accomplished and showcase the products they've already produced, rather than discussing a dreamy vision for the future of the planet.</p><p>"Once you start talking about what you've done, you get insight," Gupta said. "The next questions you need to ask yourself are, 'How does that insight translate into a product? And how does that product create real value for people?'"</p><p>Memphis Meats, which created the world's first lab-grown chicken meat last year, has been able to tick off all of these boxes so far - a feat that recently landed them on the cover of Inc. magazine.</p><p>"We're giving scientists a chance to be entrepreneurs when literally no one else would have given them a chance," Gupta said. "Seeing Uma on the cover of Inc. - that's my personal gratification."</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/why-we-boil-lobsters-alive-2018-4">The surprising reason we boil lobsters alive</a></h3>        <div>                    </div>    </div>

A Silicon Valley biotech hub that offers startups $250,000 in funding explains the 'secret sauce' to success

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://www.facebook.com/memphis.meats/photos/a.1655465484720461.1073741829.1642791339321209/1837471719853169/?type=3&amp;theater">Memphis Meats/Facebok</a></span></p><p class="caption">Memphis Meats founder Uma Valeti and Chef Derek Sarno present some of their first meals made from cultured meat.</p></div><p></p></div></div></p><ul><li><strong>Heidi Roizen, a partner at Silicon Valley venture capital firm DFJ, had to stop a board meeting with <a href="https://www.businessinsider.com/silicon-valley-biotech-hub-success-secrets-2018-4">cultured meat startup Memphis Meats</a> when the founder showed a slide of five recent hires, all of whom were women.</strong></li><li><strong>That kind of commitment to inclusion is <a href="https://www.businessinsider.com/female-led-startup-founder-explains-success-2018-5">rare in Silicon Valley</a>. </strong></li><li><strong>At Memphis Meats, more than half of the company's team identify as women; 40% of them are in leadership roles.</strong></li></ul><p>The moment Heidi Roizen knew she'd backed the right startup happened in the middle of a board room meeting. After 20 years working as a venture capitalist, she had never seen a slide like the one presented to her by Uma Valeti, the founder of <a href="https://www.businessinsider.com/lab-grown-meat-startups-burgers-chicken-fish-plants-cells-2018-7#silicon-valley-based-memphis-meats-has-let-people-taste-its-fried-chicken-meatballs-and-duck-all-of-which-are-made-from-animal-cells-but-hasnt-yet-unveiled-a-product-thats-restaurant-ready-6">cultured meat startup Memphis Meats</a>.</p><p>Before her were photos of five of the company's most recent hires - all of whom were scientists or managers by training, and all of whom also happened to be women.</p><p>"I stopped [him] right at that moment to tell him I had never seen a slide like that," Roizen <a href="http://heidiroizen.tumblr.com/post/176591668575/more-rare-than-a-unicorn-gender-parity-at-a">wrote on her blog this week</a>. "And that in turn surprised him, which probably explains in part why Memphis Meats is such a leader when it comes to diversity."</p><p>Based in Silicon Valley, Memphis Meats kicked off with <a href="https://www.businessinsider.com/silicon-valley-biotech-hub-success-secrets-2018-4">funding from leading biotech hub IndieBio</a> in 2015. Today, it's backed by investors like Bill Gates, Richard Branson, Twitch cofounder Kyle Vogt, and Kimbal Musk (Elon Musk's brother). Two food giants - Tyson Foods and Cargill - are other notable investors.</p><p>Like a handful of <a href="https://www.businessinsider.com/lab-grown-meat-startups-burgers-chicken-fish-plants-cells-2018-7">other enterprising startups in the meat alternative space</a>, Memphis Meats' mission is to <a href="https://www.businessinsider.com/lab-grown-meat-startups-burgers-chicken-fish-plants-cells-2018-7">grow real meat from animal cells</a> to minimize the environmental waste and ethical problems linked with factory farming.</p><p>But unlike the majority of the startup world, more than half of the company's team identify as women; 40% of them are in leadership roles.</p><p>The reason that is significant isn't merely because it's novel. It's also a key indicator of the company's core values, Roizen said.</p><h2>'Great resumes are the price of admission, not the focus of our hiring process'</h2><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Courtesy of Memphis Meats</span></p><p class="caption">More than half of the Memphis Meats team identify as women; 40% are in leadership roles.</p></div><p></p></div></div>Memphis Meats is committed to hiring a diverse team of people who hail from a variety of backgrounds, Megan Pittman, Memphis Meats' director of people operations, told Roizen in an interview for her post.</p><p>To do that, they look beyond traditional hiring practices that focus exclusively on things like resumes, which can be biased toward white men because of institutional racism and sexism. For decades, policies like redlining (the process by which banks refuse loans or insurance to people of color because an area is determined to be too financially risky) and immigration practices favoring European countries have limited the resources available to women and people of color.</p><p>Those policies and behaviors also contribute to limiting the amount of money that goes to women and people of color. Last year, all-female startup teams got <a href="https://fortune.com/2018/01/31/female-founders-venture-capital-2017/"> just 2% of all venture capital investment dollars</a>. Fewer than <a href="https://www.fastcompany.com/40473294/one-reason-black-entrepreneurs-dont-get-get-enough-funding-black-vcs-dont-either" target="_blank" rel="noopener" data-ga-track="ExternalLink:https://www.fastcompany.com/40473294/one-reason-black-entrepreneurs-dont-get-get-enough-funding-black-vcs-dont-either">1%</a> of American venture capital-backed founders are black.</p><p>Instead of sitting down to a traditional interview, hiring managers at Memphis Meats ask all job candidates to begin by giving a 30-minute talk focused on an accomplishment or a topic they're familiar with.</p><p>Hiring managers at Memphis do other things that help to make diversity an entrenched part of the process. They all ask one question, for example, when looking for a new hire: "What do we need our next person to bring that our team doesn't already have?," Pittman said.</p><p>That question assumes that what they need at the company is not more of the same, but instead a variety of perspectives from a variety of backgrounds. The practice has paid off, Pittman said.</p><p>"We've seen plenty of data showing that companies that hire based on resumes and checkboxes end up with homogenous workforces," said Pittman. "Don't get me wrong - great resumes and hard skills are requirements at Memphis Meats, but they're the price of admission and not the focus of our hiring process."</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/how-does-brain-freeze-happen-2018-7">What really happens to your body when you get a brain freeze</a></h3>        <div>                    </div>    </div>

A top VC stopped a board meeting with a cultured meat startup over a slide she hadn't seen in her entire career, and it offers a lesson to other companies

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