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A recent report by <keyword id="23201114" type="General" weightage="20" keywordseo="Centrum-Institutional-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="Centrum Institutional Research" meta.hostid="261" meta.entityid="Centrum Institutional Research">Centrum Institutional Research</keyword> reveals a sharp rise in the number of <keyword id="21365016" type="General" weightage="100" keywordseo="wealthy-Indians" source="keywords">wealthy Indians</keyword> over the past five years. The data highlights that the number of individuals earning more than Rs 10 crore annually has surged by 63%, bringing the total count to approximately 31,800. Meanwhile, those earning over Rs 5 crore per annum now number 58,200, marking a significant 49% increase. <h2>Wealth growth across <keyword id="23201527" type="General" weightage="20" keywordseo="income-tiers" source="keywords">income tiers</keyword></h2>The report not only tracks the increase in high earners but also highlights growth among those earning above Rs 50 lakh annually. Over the last five years, this group has expanded by 25%, with nearly 10 lakh individuals now in this income bracket. In terms of cumulative income, the report showcases rapid growth. The income of individuals earning over Rs 10 crore annually grew at a compound annual growth rate (CAGR) of 121% between FY19 and FY24, reaching a staggering Rs 38 lakh crore. Those earning more than Rs 5 crore annually saw their collective income grow by 106% CAGR, amounting to Rs 40 lakh crore. Similarly, the income of those earning over Rs 50 lakh per annum increased by 64%, totaling Rs 49 lakh crore over the same period. <div type="Article" hostid="261" msid="113328057" title="The illegal maneuvers the rich use to get richer" mstype="2" mssubtype="0"></div>The Centrum report also forecasts significant growth for India's <keyword id="20301791" type="General" weightage="20" keywordseo="High-Net-Worth-Individuals" source="keywords">High Net Worth Individuals</keyword> (HNI) and <keyword id="21662893" type="General" weightage="20" keywordseo="Ultra-High-Net-Worth-Individuals" source="keywords">Ultra High Net Worth Individuals</keyword> (UHNI). By 2028, their combined financial assets are expected to rise from USD 1.2 trillion in 2023 to USD 2.2 trillion, driven by an annual growth rate of 13-14% over the period from 2023 to 2028. The <keyword id="23201526" type="General" weightage="20" keywordseo="mass-affluent-market" source="keywords">mass affluent market</keyword> is also projected to grow in early double digits during this time. <h2>A gap in professional <keyword id="20074812" type="General" weightage="20" keywordseo="wealth-management" source="keywords">wealth management</keyword></h2>While the wealth of India's affluent is growing rapidly, the report highlights a key difference between India and advanced economies: only 15% of financial wealth in India is professionally managed, compared to 75% in more developed markets. This gap suggests a significant opportunity for the professional wealth management sector as India’s wealthy population continues to grow. (With inputs from ANI)

Individuals earning over Rs 10 cr rise by 63% in India; financial assets of high net worth individuals to nearly double by 2028

If we had one bone to pick with <keyword id="19904566" type="General" weightage="20" keywordseo="artificial-intelligence" source="keywords">artificial intelligence</keyword> (AI), it has to be the fact that the models sometimes sound like that friend of yours with verbal diarrhoea. They tend to trip over themselves to say something, nevermind processing things or fact checking. But what if we had access to AI that took more time to ‘think’ before responding to us? In a much-anticipated release, <keyword id="19918823" type="General" weightage="20" keywordseo="OpenAI" source="keywords" meta.keywordsubtype="org" meta.entityname="OpenAI" meta.hostid="261" meta.entityid="OpenAI">OpenAI</keyword> will launch its latest artificial intelligence model, o1, in 2 weeks, marking the debut of a new class of <keyword id="23152756" type="General" weightage="20" keywordseo="reasoning-AI" source="keywords">reasoning AI</keyword> models. After months of speculation and whispers about "Strawberry," the official release of o1 represents OpenAI’s bold step toward crafting models capable of reasoning through complex problems faster than humans. Alongside o1, the company is also introducing <keyword id="23149567" type="General" weightage="20" keywordseo="o1-mini" source="keywords">o1-mini</keyword>, a lighter, more cost-effective version of the new model, ideal for tasks like coding and problem-solving. <h3 style="line-height:1.38;margin-top:14pt;margin-bottom:4pt;">Why the excitement around o1?</h3>OpenAI has positioned o1 as more than just an upgrade — it’s a leap forward. The model excels in solving intricate, multi step problems, such as math and coding challenges, by mimicking human-like reasoning and explaining its thought process along the way. This shift toward reasoning-based AI marks a significant evolution in how these models are trained and used. o1 promises improved accuracy, with a dramatic reduction in hallucinations — when AI models generate false or misleading information — compared to previous models. Though not perfect, OpenAI’s Research Lead, Jerry Tworek, confirms that this new model hallucinates less frequently than its predecessors. <div type="Article" hostid="261" msid="113303589" title="OpenAI takes another step closer to getting AI to think like humans with new &amp;#39;o1&amp;#39; model" mstype="2" mssubtype="0"></div><h2>How is o1 different from previous models? </h2>The training of o1 differs significantly from its predecessors, like <keyword id="21646141" type="General" weightage="20" keywordseo="GPT-4o" source="keywords">GPT-4o</keyword>. While earlier models were trained to mimic patterns, o1 uses reinforcement learning, a technique where the system learns through rewards and penalties, refining its problem-solving ability with each iteration. Additionally, o1 employs a "chain of thought" process, mimicking human cognition by breaking down problems into logical, sequential steps. <keyword id="23152757" type="General" weightage="20" keywordseo="bob-mcgrew" source="keywords">Bob McGrew</keyword>, OpenAI’s Chief Research Officer, highlights that o1 outshines its predecessors in math-related tasks. In tests against the International Mathematics Olympiad, GPT-4o could only solve 13% of problems correctly, while o1 successfully tackled an impressive 83%. This makes it a powerful tool for scientific research, especially in fields like physics, chemistry, and engineering, where rigorous reasoning and complex problem-solving are essential. <div type="Article" hostid="261" msid="113079845" title="The internet has more AI-generated content today than human-created and this could mean trouble" mstype="2" mssubtype="0"></div><h2>What does this mean for users? </h2>Starting today, ChatGPT Plus and Team users gain immediate access to o1-preview and o1-mini. Enterprise and Edu users will have access next week, and OpenAI has plans to make o1-mini available to free-tier ChatGPT users, though no release date has been set. However, for developers eager to integrate this advanced reasoning model into their applications, the cost will be steep—o1-preview costs $15 per million input tokens and $60 per million output tokens, making it more than triple the price of GPT-4o. <h3 style="line-height:1.38;margin-top:14pt;margin-bottom:4pt;">The future of <keyword id="23152755" type="General" weightage="20" keywordseo="AI-reasoning" source="keywords">AI reasoning</keyword>: challenges and opportunities</h3>While o1’s reasoning capabilities are a huge leap forward, there are still hurdles to overcome. The model is more expensive and slower to use than its predecessors, and it is not yet optimised for web browsing or processing files and images. Despite these limitations, OpenAI believes o1 represents a foundational step toward AI models that can perform complex tasks autonomously, inching closer to human-like intelligence. This release also raises hopes for future advancements in fields beyond tech. With its ability to tackle advanced benchmark tests in physics and chemistry, o1 could pave the way for breakthroughs in medicine, engineering, and beyond. As McGrew aptly put it, “Reasoning is the critical breakthrough that could unlock unprecedented capabilities in AI.” <div type="Article" hostid="261" msid="112705229" title="OpenAI is finally buying rights from major publishing companies! But, what’s the future of journalism?" mstype="2" mssubtype="0"></div><h2>A step toward autonomous agents? </h2>For OpenAI, the development of o1 is more than just improving existing AI models — it’s about moving toward a future where AI can act as autonomous agents. These agents would be capable of making decisions, taking actions on behalf of users, and solving real-world problems. This vision of AI goes beyond simple pattern recognition and into the realm of reasoning and decision-making, which could revolutionise industries from healthcare to engineering. However, the journey toward autonomous decision-making agents is still in its early stages. o1 may not yet be fast or affordable enough for widespread use, but it represents a significant milestone in AI research. McGrew noted that solving complex reasoning tasks is essential to progress toward human-like intelligence in AI systems. The release of o1 marks a transformative moment in AI development. As OpenAI pushes the boundaries of what reasoning models can achieve, the implications for industries relying on complex problem-solving are immense. From coding competitions to scientific research, the capabilities of o1 demonstrate a powerful shift toward AI that thinks — almost like a human. As OpenAI continues to refine and expand its models, we can expect o1 and its successors to play an ever-growing role in shaping the future of technology, science, and industry. As we look toward a future where AI reasoning models become more commonplace, the release of o1 sets the stage for exciting advancements in both practical applications and AI research. The era of reasoning AI is upon us — and it’s only just beginning. <div type="Article" hostid="261" msid="113088658" title="OpenAI to Meta: AI companies that were accused of copyright infringement" mstype="2" mssubtype="0"></div>

Open AI’s latest ‘Strawberry’ will actually think before it acts!

<ul class="summary-list"><li>Much of the office market may be mired in a downturn, but demand has been strong for high-end space.</li><li>New office construction has dropped off sharply, leading to a potential upcoming shortage.</li></ul>Office vacancy is at a record high in Washington, DC, and the city is regarded as one of the nation's <a target="_blank" href="https://www.businessinsider.com/the-federal-government-is-cutting-back-its-office-footprint-2023-6">most challenged</a> markets – in part because of its heavy reliance on federal tenants that have continued to slim down their spaces.Yet Hilary Goldfarb, a senior managing director at Rockefeller Development who leads the company's Washington, DC, operations, has little doubt about the sleek 400,000-square-foot office property her firm is raising at 600 Fifth St.When the building is completed in mid-2026, Goldfarb says she is "confident it will be full.""This is not hope as a strategy," she added, noting that half of the project was pre-leased to the law firm Crowell &amp; Morning. "It's based on real data and real activity."Across the country, major office markets from New York to San Francisco have been pummeled by the lasting popularity of remote and hybrid work. Newly built, high-end offices, however, are finding takers.That demand has persisted even as office construction has been stifled by higher interest rates and inflation, which have pushed up costs. Worries over the health of the office market have also made lenders reluctant to finance new development.About 30 million square feet of new office space will be completed this year in the US, roughly half of what was built in 2019, before the pandemic, says CBRE, the real estate services firm. In 2025, deliveries will fall even further, to 14 million square feet, CBRE projects.While the overall office market is awash in hundreds of millions of square feet of empty space, CBRE predicts that vacancy in the market's upper segment will drop to pre-pandemic levels by 2027 – around the same time projects that are breaking ground now will be ready.A growing number of office developers have taken notice and see a budding shortage they are eager to cater to. Large office tenants, who often plan their space decisions years in advance, have also begun to recognize that while space options may abound now, they are likely to vanish in the coming years – raising interest in new development."The last six, seven months, there's not just people coming kicking the tires, there's people that are really looking to engage," said Scott Rechler, the CEO of RXR Realty, referring to what he says is growing tenant interest in 175 Park Ave., a 2.8-million-square-foot skyscraper designed by Skidmore, Owings &amp; Merrill that developers RXR and TF Cornerstone are planning next to Grand Central Terminal in midtown Manhattan.The group now aims to begin construction on the more than $4 billion, 1,575-foot-tall tower midway through 2025 and with significantly less pre-leasing than originally planned because of their growing confidence in demand. Asking rents at the tower will be above $200 per square foot, among the highest ever sought in the city."There used to be a point where we thought we would need to pre-lease all of it," Rechler said. "Now, we think that at 500,000 feet, it's probably enough to get going."Rechler said that interest in elite new space had been stoked by other high-end offerings in the market, such as One Vanderbilt, a recently built nearby tower, JPMorgan's new headquarters at <a target="_blank" href="https://www.businessinsider.com/jpmorgan-nyc-headquarters-design-270-park-avenue-request-proposals-2021-4">270 Park Ave.</a>, and a planned skyscraper at 350 Park Ave. that will house the <a target="_blank" href="https://www.businessinsider.com/ken-griffin-citadel-office-space-real-estate-fifth-avenue-2024-8">investment firm Citadel</a>."If your competitors have a building like that that they're identified with and you're trying to be on a parallel path, you're going to say I want to be in a space at the same level or better," Rechler said.<div type="image" title="Large conference room and office space overlooking Midtown Manhattan." height="1852" width="5000" msid="113908775" hostid="261" sizebytes="387772"></div><h2 id="5d3faa99-284e-4185-804a-807a2344cd11">Other developers are laying plans for new towers</h2>The large development firm Related Companies, meanwhile, says that four office towers it has built with Oxford Properties as part of their Hudson Yards mega-project, are now 99% full. The team is readying to begin a new 45-story, 1.1-million-square-foot office property called 70 Hudson Yards next year."We think we're going to be one of the only new buildings in '27, '28 when there's going to be no new supply," Philippe Visser, Related's president of office development, said.Even as overall office vacancy is now at 15.1% in Manhattan, according to CBRE, Visser sees little competition between the overwhelming majority of that empty space and Hudson Yards, where a number of major corporate names have migrated in recent years to take occupancy of newly built buildings. Tenants include Wells Fargo, KKR, BlackRock, Meta, and L'Oréal."All these successful companies who are looking for really dynamic office space want new construction," Visser said.70 Hudson Yards will feature an array of state-of-the-art features, including a triple-paned glass facade, which greatly enhances the insulating properties of glass exteriors and will make the building more energy efficient and appealing to sustainability-conscious office users.In Lower Manhattan, Larry Silverstein hinted that he is close to moving ahead with plans to erect the final office skyscraper at the World Trade Center, a 2.8 million-square-foot tower designed by architect Norman Foster.Rumors abound that Silverstein is close to signing a large lease with American Express that would allow the project to proceed."Just stay tuned" was all Silverstein would say about the possible deal at the tower, 2 World Trade Center.Silverstein said he was certain other tenants would fill up the remainder of the building's available space once construction is underway."When you put everything this buildings has all together, it's superior," Silverstein said. "It never left my mind that someday we would succeed in accomplishing Tower 2 – and that's where we are today."Manhattan is particularly conducive to new construction in that it has both a large captive audience of corporate office users and a deep inventory of old, outdated office properties that have fallen out of favor.But because there is so little office construction on the horizon nationally, builders have begun to lay similar plans in other markets with similar dynamics.Visser, for instance, says Related expects to break ground on a new 40-story, 925,000-square-foot office tower at 725 W. Randolph St. in Chicago by next year.Although that city is also awash in available space, the building would be one of the only available newly built office properties in the Fulton Market neighborhood, a desirable sub-district in the city's West Loop that is known for its retail and restaurants, he said.Related Ross, a spinoff development firm launched earlier this year by Related's founder, Stephen Ross, is about to begin construction on 15 City Place, a nearly 500,000-square-foot office building in West Palm Beach, Florida. The project is about 70% pre-leased to an undisclosed roster of tenants, according to Jordan Rathlev, a senior vice president of development at the company.Rathlev said he recently received a space inquiry from a financial technology firm that is seeking at least 300,000 square feet – far more than 15 City Place can accommodate. The interest from that tenant and others has given a boost to the company's ambitions to begin building a neighboring office property called 10 City Place that will also be around 500,000 square feet in size."The intent is that they're both going at the same time," Rathlev said, indicating Related's hope that it will sign enough anchor tenancy at 10 City Place to build it and 15 City Place simultaneously.<h2 id="70c57a95-0968-4007-a21d-96efb55c9ff3">A tale of two office markets</h2>There is a yawning gap between the health of top tier office space and the wider market, according to data from CBRE.The firm labels new and heavily renovated spaces that meet a host of quality measures as "prime" – a segment that encompasses only 8% of overall office inventory nationally.A net total of 49.3 million square feet of prime space was absorbed between 2020 and the first quarter of 2024, according to CBRE. Around 170.3 million square feet of net vacancy accrued in the rest of the office market during that same period.Overall office vacancy nationally was 19.1% in June, close to a record level. Prime vacancy was 15.5% and CBRE forecasts that figure will drop by almost half, to 8.2% by 2027, its pre-pandemic average."We believe that this absorption estimate is conservative, and the prime vacancy rate could return to its pre-pandemic level sooner given continued job growth," Jessica Morin, CBRE's director of US office research, said.These top-of-the-market spaces, which charged a 60% premium before the pandemic, are now 84% more expensive than competing spaces.With little supply, that differential could grow."8.2% is a healthy prime market and we expect rent growth in this tranche," Morin said.Driving the solid metrics is a lack of new supply.While a total of 44 million square feet of office space is presently under construction, only about 17.3 million square feet of it, 39% of the total, is considered prime, according to CBRE. 8 million square feet of that is pre-leased, meaning that there is only about 10 million square feet of upcoming available top quality space.<h2 id="ccbe14d6-6f15-40b7-b453-f934e9df0594">Financing remains a sticking point</h2>Even with the tailwinds, financing high end office construction remains a challenge. Banks have grown wary of lending to office projects, even those that are likely to be a financial success, because of broader concerns around declining values, increased foreclosures, and potential financial losses in the sector.Rechler said that RXR was considering "alternative strategies" to arrange financing for 175 Park Ave., as a result."The scale of this project is of a level, I'm not sure you'd be able to get enough traditional banks, as an example, to be a lender," Rechler said.Rechler said RXR has explored other routes to arrange the billions of dollars of debt necessary to fund 175 Park Ave.'s construction, including the municipal bond market, in part because the project includes $500 million of transit upgrades to Grand Central Terminal."I feel good," Rechler said, "that we'll have the right combination of pre-leasing and financing to begin next year."

What office meltdown? Developers see a shortage of high-end space and are rushing to build it. 

<ul><li>Total absorption witnessed in <keyword id="6730905" type="General" weightage="20" keywordseo="Tier-1-cities" source="Orion">tier-1 cities</keyword> was at 4.53 lakh units as against 1.83 lakh units in tier 2 cities in 2022. </li><li>New launches in metros stood at 3.71 lakh units while it was 1.52 lakh units in tier-2 cities. </li><li>2022 witnessed the highest launches and absorption in the last eight years. </li></ul>The sales of <keyword id="6393792" type="General" weightage="20" keywordseo="residential" source="Orion">residential</keyword> property in tier-1 cities in the country stood at more than 250% of the levels seen among tier-2 cities in 2022. The total absorption witnessed in tier-1 cities was at 4.53 lakh units as against 1.83 lakh units in tier-2 cities, according to a report by real estate consultancy, <keyword id="226991" type="General" weightage="20" keywordseo="propequity" source="Orion">PropEquity</keyword>. Even in terms of new launches of residential property, tier 1 cities outperformed the tier 2 cities by more than 240% in 2022. The new launches seen in metros were at 3.71 lakh units while it was 1.52 lakh units in the latter. “This disproportion in metros and tier 2 cities is due to employment opportunities, better infrastructure with better standard of living in tier 1 cities. Regardless of the size of the real estate industry in the two categories of cities, there are very positive developments and all round growth of the property market across the country where more and more people are finding a home of their choice and within their budgets,” says Samir Jasuja, founder and MD of PropEquity. Interestingly, 2022 witnessed the highest launches and absorption in the last eight years. Absorption crossed 4.5 lakhs residential units with only 3.7 lakhs new supply added in the same period. Inventory overhang is at all-time low with only 12 months of inventory left in top tier 1 cities in <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>. This gap in inventory will encourage developers to launch new projects in the coming quarters to cater to the existing demand. In all, 2022 witnessed maximum residential property sales in the last eight years, with total absorption increasing by 28% year-on-year. These higher sales were a result of multiple factors such as increased confidence of consumers on hard assets compared to volatile assets post-Covid, and lower repo rates of 4% in the first half of the year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/consistent-with-dignity-socially-acceptable-sc-mulls-panel-to-examine-less-painful-method-of-execution/articleshow/98862566.cms">'Consistent with dignity, socially acceptable', SC mulls panel to examine less painful method of execution</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/co-infection-with-superbug-spikes-covid-virus-replication-by-15-fold/articleshow/98866674.cms">Co-infection with 'superbug' spikes Covid virus replication by 15-fold</a>

Tier-1 cities’ home sales is 2x of what it’s in tier-2 cities: PropEquity

<ul><li><keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">Real estate</keyword> firms are now eyeing fresh markets by expanding into Tier 2 and 3 cities to kickstart new projects. </li><li>This trend is particularly prominent in northern and western India. </li><li>Developers are concentrating on low-rise and plotted developments due to the local populace's preference for these formats. </li></ul>Indian real estate developers are looking beyond metros and big cities. Between January 2022 and October 2023, real estate developers acquired roughly 3,294 acres of land across the country. And, 44.4% of these transactions occurred in Tier 2 and 3 cities, accounting for 1,461 acres spread across 17 separate deals, says JLL, a real estate and investment management company. This trend is particularly prominent in northern and western India, with Panipat, Ludhiana, Nagpur, and Panchkula accounting collectively for 75% of the total acquired land in these cities. <cmsannotation type="cmsannotation" annotationid="Developers flocking to Tier 2 and Tier 3 cities" comment="Subhead" text="Developers flocking to Tier 2 and Tier 3 cities">Developers flocking to Tier 2 and Tier 3 cities</cmsannotation> Real estate firms are now eyeing fresh markets by expanding into Tier 2 and 3 cities to kickstart projects. The data reflects the success of reputable developers in finalizing numerous land deals in response to rising customer demand and increased purchasing power. Buyers in Tier 2 and 3 cities are seeking quality homes and there is demand for such projects. For instance, DLF's inaugural project in Panipat sold out within an hour of its launch. Godrej Properties sold out phase 1 of its plotted development project in Sonipat within two days of its launch. In southern India, plotted residential projects were introduced in cities like Ambur, Mahabalipuram, Coimbatore, Trichy, and Mysuru. Driven by the remarkable residential sales in emerging cities, developers are also acquiring land to create future supply pipelines. Developers such as Godrej Properties, M3M, Eldeco Group, and Omaxe Group have either entered or expanded their presence in these burgeoning markets through recent land acquisitions. “If Tier 2 and Tier 3 cities are developed with proper infrastructure, both physical and social, definitely people would want to love because otherwise home prices are very expensive in the Tier 1 cities. Plus there is also organic demand within the Tier 2 and Tier 3 cities from people who are already staying there,” says Samantak Das, chief economist and head of research and REIS, India, JLL. <cmsannotation type="cmsannotation" annotationid="Land Transaction Snapshot of Tier 2 and 3 Cities: Jan 2022-Oct 2023" comment="Subhead" text="Land Transaction Snapshot of Tier 2 and 3 Cities: Jan 2022-Oct 2023"> Land Transaction Snapshot of Tier 2 and 3 Cities: Jan 2022-Oct 2023 </cmsannotation> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total number of land deals </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">17 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value of land transactions </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,918 crore </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Area of land transacted </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,461 acres </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Area of land transacted for proposed residential developments </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Approximately 1,339 acres </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Estimated residential development potential </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Approximately 64 million sq ft </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Estimated sales potential of the proposed residential development </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹21,000 crore </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Area of land transacted for plotted developments </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,015 acres </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value of land transactions for plotted residential units </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Over 3,163 crore </td></tr></tbody></table> Source: JLL <cmsannotation type="cmsannotation" annotationid="Horses for courses" comment="Subhead" text="Horses for courses">Horses for courses</cmsannotation> It's noteworthy that a significant portion, 91.6% (1,339 acres), of the acquired land is earmarked for prospective residential developments, with a major emphasis on plotted residential units. Developers are concentrating on low-rise and plotted developments due to the local populace's preference for these formats. Approximately 1,015 acres have been designated for plotted developments, valued at over ₹3,163 crore. “Plotted developments have all the infrastructure, like parks, shopping centres and so on. People earlier would have been staying in their own self built houses, probably as joint families. Now people want to have independence and so they want to move into their own apartments,” says Sen.

Real estate developers heading to Panipat, Ludhiana, Nagpur & more

India currently faces a shortage of 2.41 million skilled workers in the telecom sector in the 5G era, which is forecast to jump by 3.8 times by 2030, a report showed on Friday. The country will require 22 million skilled workers in 5G-focused industries by 2025, in areas such as cloud computing, robots and the Internet of Things (IoT). One of the key challenges is that only 40 per cent of India's graduates in computer science, IT, and math are employable in the technology sector due to the mismatch between academic requirements and industry demands, according to the report by the Telecom Sector Skill Council (TSSC), launched in association with enterprise decision-making platform Draup at the India Mobile Congress (IMC) 2023 here. The number of employed talent in the Indian telecom industry is currently 11.59 million, with 2.95 million corporate talent and 8.24 million blue-collar talent. According to the report, India is the only country expected to have a skilled labour surplus, with 1.3 million workers in the technology, media and telecommunications (TMT) sector by 2030. "In anticipation of the upcoming 6G era, our focus remains on aligning our skilling initiatives with cutting-edge technologies, ensuring a workforce ready for the future of telecom," said Atul Tiwari, Secretary, <keyword id="2485309" type="General" weightage="50" keywordseo="ministry-of-skill-development" source="Orion">Ministry of Skill Development</keyword> and Entrepreneurship. The report, titled '<keyword id="19288877" type="General" weightage="50" keywordseo="telecom-talent" source="Orion">Telecom Talent</keyword> in 5G Era: Demand Supply Skill Gap Report 2023-24', highlighted that across 15 top streams, network operation and maintenance and project engineering have the most corporate talent, while network operation and maintenance and sales and distribution - service segment have the most blue-collar talent. According to Arvind Bali, CEO, TSSC, the telecom sector is the third-largest industry in India that accounts for roughly 6.5 per cent of all FDI inflow and also by 2027, the country is anticipated to account for 11 per cent of all 5G subscriptions worldwide. "India has a good chance to close the growing demand-supply gap by 2030 with the proper reskilling and hiring strategies that target adjacent talent in tier 2 and 3 cities and university supply," said Bali. With the help of AI, even more powerful 6G network technologies will emerge in the future, the report mentioned.

Only 40% of India's IT, Comp Sc, math graduates employable in tech sector says TSSC

iQOO 11 Review: Snappy performance with top-tier camera experience

<ul class="summary-list"><li>Grigory Lukin achieved financial independence and retired early from his Amazon job at age 34.</li><li>He saved a lot of his paycheck and earned relocation bonuses for moving from city to city in the US.</li></ul>This as-told-to essay is based on a conversation with <a target="_blank" href="https://affiliate.insider.com?amazonTrackingID=biauto-64547-20&amp;h=bb7ec99aa2aaf8baadc40202fdc2837ba5a390f5610432a376ea96df1c6dec1e&amp;postID=65e1ed114aaa4153d1fbbce6&amp;postSlug=amazon-worker-financial-independence-retire-early-fire-in-canada-cheaper-2024-3&amp;site=bi&amp;u=https%3A%2F%2Fwww.amazon.com%2FLets-Retire-Young-Simplicity-Lean-FIRE-ebook%2Fdp%2FB0C6R1RNJT%3Fref_%3Dast_author_mpb">Grigory Lukin</a>, 37, about his experience saving through the <a target="_blank" href="https://www.businessinsider.com/personal-finance/financial-independence-retire-early">Lean FIRE method</a> and retiring at age 34 in 2021. Originally from Russia, Lukin lived in different US cities before moving to Canad, all while saving for an early retirement. The conversation was edited for length and clarity.I developed a personal philosophy. It basically amounted to: Earn more, spend less, invest the rest. It was a nice little mantra."<a target="_blank" href="https://www.businessinsider.com/personal-finance/financial-independence-retire-early">Lean FIRE</a>" is when you live like a monk or like a grad student. Basically, you don't necessarily have to be broke or be "<a target="_blank" href="https://www.businessinsider.com/amazon-employees-use-frupidity-mix-frugality-stupidy-2022-8">frupid</a>" — when you make stupid decisions just to save money and it backfires. It's just about living within your means and not focusing on consumerism and capitalism, but rather enjoying the little things in life.I spent several years just trying to keep my head above the water, financially speaking, working manual jobs at Amazon warehouses.There's a book by Tim Ferriss called "The 4-Hour Workweek." When it came out in 2007, it was really revolutionary. He wrote about a bunch of things, but one of my favorite concepts was geographic arbitrage. Basically, you can enjoy the same standard of living, or even better, someplace way cheaper and way nicer.My long-term plan was to leverage my Amazon seniority and my skill set into getting transferred to one of our offices abroad. In 2016, I decided to write a five-year plan. It said that within five years I was going to move to a slightly more civilized country with better healthcare and a cheaper standard of living. And that I will be able to squirrel away enough money to set off on the most basic Lean FIRE retirement.I updated the plan every three months religiously and managed to accomplish the plan three months ahead of schedule, in May 2021.<h2>I tried to save almost half of my paycheck and sometimes contributed 90% to my 401(k)</h2>When I was living in Seattle, I did my best to save a big chunk of my paycheck.I was using almost every trick in the book. I would cook at home, I would use my little slow cooker to make some chicken, beans, and garlic, and eat it at work. I think it amounted to about $2 a portion, while all of my coworkers were going out to those food trucks.For example, there's this great huge light show in the sky twice a day every single day — the sunrise and sunset, but how many people actually stop to take a look? If they could charge you money for it, they would.I went to fun local events with my friends, different presentations and art gallery openings — and work presentations — to score free cider and snacks.I almost never bought new books or entertainment. I would just use a local library, which is a severely underappreciated resource.<div type="image" title="A man posing on snow in front of a National Park sign." height="2500" width="1875" msid="108248905" hostid="261" sizebytes="596466"></div>I would maintain a $3,000 emergency fund and put everything else that was left over at the end of the month into my taxable investment account. The percentage varied, but I believe every single month, I would save between 25% and 45% of my paycheck.Sometimes I would squirrel away enough money for a few months so that I could switch my 401(k) contribution from 10% to 90%.My paycheck would look absolutely hilarious. It would basically say $100 after all the fees and taxes. As long as you remember to flip it back to a 10% contribution, it was fine.<h2>I was able to supplement my income with relocation bonuses</h2>I never made even close to $100,000 a year.My salary was about $59,000, and then there would be a variable number of stock options. I was a low-level Amazonian. So if I could do it, anyone could do it.I started at Amazon in November 2009 as a temporary seasonal worker, packing boxes in Reno. I got a permanent position in May 2010 and transferred to Las Vegas in September 2011. In August 2012, I became a quality analyst in the ICQA (inventory control, quality assurance) department. I then transferred and helped launch Amazon's fulfillment centers in Fort Worth and Tampa, in the same quality analyst role. I transferred to Seattle and leveled up to the lowest corporate tier in August 2015: my job title became business analyst on PPT (Production Planning Team). In May 2017, I transferred to FBA (Fulfillment by Amazon) and worked there as an investigation specialist. With Amazon, when you work as a warehouse employee, every time they open a new warehouse somewhere else in the country, they give you a $10,000 cash bonus if you transfer there. They take away one-third for taxes right away, so basically, they give you $6,700 cash in your bank account. You have to figure out your own move and just show up in this warehouse. That's how I moved from Reno to Las Vegas to Fort Worth to Tampa, and then to Seattle.Over the course of three years, I tried to transfer to the UK — before Brexit — Poland, Canada, Australia, and then Canada again. And it finally worked. I got a transfer from Seattle to Toronto in March 2019, where I became a financial analyst attached to a nearby fulfillment center. That was an awesome road trip — I just shoved everything into my little Kia Rio.I spent about two years on a work permit until I got my permanent resident status. By then, it was 2021.I quit Amazon in May 2021. I spent 11-and-a-half years working for Amazon altogether. In 2020, I sold all of my Amazon stock, which I had been stockpiling for years. At the time, it was an all-time high and the only stock that was still going up. I used that money to invest in companies that were basically on sale, 50% or 60% off your shopping malls, cruise ships, airlines, and a couple of other companies like that. Within the years that followed, I believe my total return was 293%.<h2>I finally stopped working after moving to Canada, and it's way easier to save here</h2>I would highly recommend geographic arbitrage, or moving to other countries, to absolutely everybody — but I'm biased.Moving to another country was the foundation of my big plan. When I moved to Toronto, I took a 48% pay cut in my total compensation.I was only in Toronto because it was part of the plan to move to Canada. Once I didn't have to stay there because of Amazon, I finally had a choice to make for the first time in my adult life: I could move to any city I wanted to.<div type="image" title="A man taking a selfie." height="2048" width="1536" msid="108248907" hostid="261" sizebytes="282078"></div>In my personal opinion, aside from some similarities, Canada is suspiciously similar to the United States. There are some differences. Instead of guns, they have maple syrup; instead of miles, you have kilometers. But I didn't feel foreign enough. Quebec, on the other hand, was this mysterious province with its own alternate history. I visited Quebec City to do some apartment hunting and just absolutely fell in love.There are some provinces in Canada that have rent control, like British Columbia and Quebec, but Quebec enforces it a lot better than all the others. The cheapest cities to live in are in Quebec.When my lease in Toronto ended in September 2021, I packed everything up into a U-Haul trailer, sold my car, and moved to Quebec City.Saving here is infinitely easier. When I moved, my rent was all-inclusive for a nice large apartment on the second floor of a brick building next to the tourist sector. The rent was about 670 Canadian (or $493), and that's inclusive of electricity, fast internet — the whole thing. Now it's going up a little bit to 730 Canadian plus 40 Canadian for electricity ($567).You can't get anything in the States for that kind of money in terms of your own apartment in a brick, soundproof, building — just beautiful.The entire past year in 2023, I think I've only bought a few new material things: a couple of books, a new pair of jeans, and some socks, and that was it.I gain pleasure from simple things, like learning to cook with my Instant Pot is amazing. I enjoy a very nice healthy and balanced diet. Going out and having fun and all of that definitely fits into a $ 1,000-a-month budget, give or take.I would recommend everyone at least consider geographic arbitrage, if not to another country, then maybe another city or another state. I know a lot of people are rooted to where they are through their community, family, friends. But it's kind of like "Lord of the Rings" — it's little hobbits who are reluctant to leave their village until they absolutely have to.The first time you move is the most difficult, and then it just gets easier and easier every single time. Being this modern-day, nomadic vagabond is a lot of fun if you let it be.

I retired from Amazon at 34 and chose to settle in Canada, where I only need $1,000 a month to live well

<ul class="summary-list"><li>Apollo, a popular third-party app for accessing Reddit, announced it will shut down June 30.</li><li>Reddit has started charging developers for access to its content.</li></ul>Apollo, a popular app for accessing Reddit, will <a href="https://www.reddit.com/r/apolloapp/comments/144f6xm/apollo_will_close_down_on_june_30th_reddits/">shut down on June 30</a>, a casualty of the social media company's decision to begin charging developers for access to its content.In a <a href="https://www.nytimes.com/2023/04/18/technology/reddit-ai-openai-google.html" target="_blank" rel="noopener">recent interview</a> with The New York Times, <a href="https://www.businessinsider.com/reddit-ceo-steve-huffman-says-tiktok-is-parasitic-2020-2">Reddit CEO Steve Huffman</a> attributed the decision to charge for access to the craze of generative AI sweeping the tech industry, saying that developers have been scraping Reddit's website to train large language models.Chatbots like ChatGPT rely on large amounts of content scraped from the web to learn how to generate their own humanlike text. Reddit argues that its vast collection of user-generated text is a valuable asset that other company's <a href="https://www.businessinsider.com/reddit-openai-chatgpt-ipo-valuation-karma-2023-6?inline-endstory-related-recommendations=">should be required to pay for</a> if they want to use it.The Apollo app has been swept up in this battle, which technically revolves around access to Reddit's <a href="https://www.businessinsider.com/guides/tech/what-is-an-api">application programming interface</a>. An API is a common piece of software that helps different apps exchange data. Christian Selig, the developer of Apollo, argued that Reddit's decision to charge for access, while understandable, is not being implemented in a way "based in reality." He said Reddit is asking Apollo to pay $0.24 cents for every 1,000 requests to its API, which would cost $20 million a year based on the app's current usage. Numbers disclosed by Selig in <a href="https://www.reddit.com/r/apolloapp/comments/144f6xm/apollo_will_close_down_on_june_30th_reddits/">a post about the shutdown</a> indicate that Apollo currently has about 50,000 users paying $10 a year, which equates to revenue of $500,000 annually. Reddit declined to comment on the API pricing or the news of Apollo's shutdown. Huffman will be <a href="https://www.reddit.com/r/reddit/comments/144ho2x/join_our_ceo_tomorrow_to_discuss_the_api/">hosting an "ask me anything" discussion on Friday</a> where he will take questions regarding the API changes. ChatGPT, and the broader generative AI boom, has set up an epic battle over the <a href="https://www.businessinsider.com/chat-gpt-and-generative-ai-copyright-law-limitations-2023-3">future of web content and copyright</a>. Leading AI companies, including OpenAI and Google, <a href="https://www.businessinsider.com/openai-google-anthropic-ai-training-models-content-data-use-2023-6">won't let their content be used to train AI models</a>, however, they have been using content from Reddit, The Wall Street Journal and thousands of other sites to train their own models for years.<h2>Elon Musk has cracked down on API access, too</h2>Reddit is not the only company that's had enough of this. Twitter began clamping down on API access after Elon Musk acquired the company for $44 billion. Musk has <a href="https://www.businessinsider.com/elon-musks-lawyer-accuses-microsoft-of-misusing-twitter-data-2023-5">threatened to sue OpenAI backer Microsoft</a>, claiming it abused its access to the Twitter API, a threat which came shortly after Twitter dramatically increased the pricing for its API tiers. Twitter also banned third-party clients altogether, killing off popular apps like Tweetbot. Third-party clients did not include the advertisements that make money for Twitter.Reddit <a href="https://markets.businessinsider.com/news/stocks/reddit-confidentially-files-to-go-public-2021-12">filed to go public in late 2021</a> while the market was hot but before the tech industry experienced a downturn and the number of new IPOs came crashing down. Reports suggest the company <a href="https://affiliate.insider.com?h=f7d7ae52c9cc5a835b14a3513ded9c14cfabe4da084b866b3e8dd298146a33d1&amp;postID=64821b80f68b632c91498d57&amp;site=bi&amp;u=https%3A%2F%2Fwww.theinformation.com%2Farticles%2Freddit-aims-for-ipo-in-second-half-as-markets-gears-quietly-turn" target="_blank" rel="noopener">has not yet turned a profit</a>, which could explain why it's delayed a public offering in the current environment. Charging for API access could help bring in more revenue.<h2>Blackmail allegation</h2>Among Selig's allegations is one that Huffman stated in a phone call that Selig was blackmailing Reddit with a suggestion that the company buy Apollo for $10 million in order for him to "go quiet." But Selig had earlier clarified on a call with Reddit staff that he was being misinterpreted. In his words, Selig was not threatening reputational harm to Reddit, but merely trying to come to a fair compromise for him to either shut down Apollo or see Reddit take ownership of the app."As said, a common suggestion across the many threads on this topic was 'If third-party apps are costing Reddit so much money, why don't they just buy them out like they did Alien Blue?' That was the point I brought up," Selig writes. "If running Apollo as it stands now would cost you $20 million yearly as you quote, I suggested you cut a check to me to end Apollo. I said I'd even do it for half that or six months worth: $10 million, what a deal!" Reddit employees on the call initially interpreted his suggestion as a threat, according to Selig. Despite clearing up the situation and staff acknowledging that Selig wasn't making demands, Huffman allegedly later said on a separate call that Selig had threatened he would cause trouble if Reddit didn't give him a large payout. Selig recorded his initial call with Reddit's team, and published transcripts he says support his allegations.

Popular Reddit client Apollo will shut down after talks over new developer fees got 'ugly,' with allegations of blackmail

<ul class="summary-list"><li>Formula One drivers have a training regimen unlike anything else in sports.</li><li>They must find the perfect balance between stamina, strength, and maintaining the right weight.</li><li>F1 drivers and a trainer talk about what it takes to be a driver at the pinnacle of the sport.</li></ul>The seven-time world champion Formula One driver Lewis Hamilton returned from his summer break in August with a problem — he was over his target weight and had just five days to drop seven pounds."I ate so much food," Hamilton, <a target="_blank" href="https://www.insider.com/lewis-hamilton-vegan-diet-f1-2023-6">who is a vegan</a>, said in a press conference. "My weight has to be around 73, 74 kilos" — or around 162 pounds — "and I was almost 77 kilos on Saturday. I was like, 'Oh, God!' so I had to go on an extreme diet these past days."<div type="image" title="Lewis Hamilton" height="1406" width="2500" msid="104897911" hostid="261"></div>F1 drivers need to stay at a precise weight while maintaining enough strength and endurance to drive a car around some of the toughest race tracks in the world at 200 miles per hour.To better understand what it takes for these elite drivers to maintain their weight while staying strong, Insider spoke with two current F1 drivers and a longtime performance coach about the training required in formula racing's most prestigious stage.<h2>Weight is a battle aimed at a specific target</h2>Training as an F1 driver is about striking the perfect balance between competing forces. Drivers have to be strong, but they also need to be light. They need remarkable endurance and lightning-quick reflexes.Carrying extra weight slows a car down, but there is a limit to how light drivers are allowed to be.F1's minimum weight for drivers is about 176 pounds, but according to the sport's governing body, that includes the equipment they wear, which can weigh up to 15 pounds — so drivers are pushed to weigh even less.<div type="image" title="Max Verstappen" height="1667" width="2500" msid="104897913" hostid="261"></div>To maximize speed, drivers are encouraged to land at or below 161 pounds. A single pound can mean a huge difference in races where teams constantly look to shave tenths-of-a-second off of lap times."Ten kilos of fuel in the car costs three-tenths of a second every circuit, per lap," <a target="_blank" href="https://www.insider.com/racing-driver-lewis-hamilton-loses-10-pounds-weight-in-race-2022-5">Hamilton told Graham Norton</a> in 2019. "So if I'm one kilo overweight, I can lose up to two seconds in the race distance. So my weight is very important."<div type="image" title="Alex Albon" height="1406" width="2500" msid="104897914" hostid="261"></div>Patrick Harding — a performance coach who has worked with drivers, Olympic athletes, and boxers — has been the trainer for Alex Albon, an F1 Williams Racing driver, for five years.Harding told Insider that Albon's in-season weight consistently hovers between 160 and 162 pounds, depending primarily on his hydration level. His biggest concern is maintaining strength."Most of my concerns are when his weight drops below that 72.5 because then I know we're losing muscle mass," Harding said, referring to Albon's weight in kilograms.During races, drivers can burn as many as <a target="_blank" href="https://www.askmen.com/fitness/workout/formula-1-driver-training-tips.html">1,000 calories an hour</a>. In the thick of the season, drivers are typically more concerned with keeping weight on, even for a taller driver like Albon, who's over 6 feet.<div type="image" title="Lewis Hamilton" height="1667" width="2500" msid="104897915" hostid="261"></div><h2>A 2-tiered approach to hitting weight targets starts in the offseason</h2>Preparation for a new F1 season begins during the three-month break after races wrap up, starting in November.Harding estimates he and Albon spend nearly two months during the offseason preparing for a season, which includes Albon putting on four to six pounds of muscle mass.<div type="image" title="F1 driver Daniel Ricciardo climbs into his car." height="1667" width="2500" msid="104897916" hostid="261"></div>The Scuderia AlphaTauri driver Daniel Ricciardo <a target="_blank" href="https://www.insider.com/f1-drivers-tall-weight-diet-training-2022-9">previously told Insider</a> that he trains six days a week in the preseason, with a mix of cardio and strength training."You don't need to be a triathlete or a bodybuilder, but you need just good all-around strength and conditioning," <a target="_blank" href="https://www.insider.com/f1-drivers-tall-weight-diet-training-2022-9">Ricciardo told Insider in 2021</a>.The weight requirements were even stricter before F1 raised the minimum weight in 2019.Valtteri Bottas, an Alfa Romeo driver, said earlier this year that he believed he had <a target="_blank" rel="" href="https://www.insider.com/valtteri-bottas-f1-alfa-romeo-eating-disorder-2023-3">developed an eating disorder</a> earlier in his career to maintain a team-mandated weight of 150 pounds.<h2>Recovery is just as important as training</h2>Once the season begins, trainers focus their attention on the drivers' recovery.<div type="image" title="F1 driver Carlos Sainz Jr. after a race." height="1667" width="2500" msid="104897917" hostid="261"></div>Race days typically fall on Sunday, so <a target="_blank" href="https://www.insider.com/f1-drivers-tall-weight-diet-training-2022-9">Ricciardo told Insider</a> he'll rest on Mondays, do some light cycling on Tuesday, a little bit of core and neck strength on Wednesday, and then return to the track on Thursday. He added that self-care is an important part of his recovery.Lewis Hamilton told <a target="_blank" href="https://www.gq-magazine.co.uk/lifestyle/article/lewis-hamilton-selfcare-wellness-interview-2022">GQ Magazine</a>: "I do cryotherapy, I might do some pool work, and I make sure I get physio or acupuncture that day or just a steam room." <h2>The all-important neck muscles</h2>Drivers and trainers told Insider one of the most important muscle groups for an F1 driver to keep strong is the neck because of the g-forces exerted on the body during turns, braking, and accelerating. The g-forces in racing can be as high as <a target="_blank" href="https://motorsportexplained.com/f1-g-forces/">six times the force of gravity</a>.<a target="_blank" href="https://www.insider.com/kevin-magnussen-f1-return-haas-2022-7">In a 2022 interview</a> with the German magazine Sport Bild, the Haas driver Kevin Magnussen explained how painful it can be if a driver doesn't strengthen his neck before the season."The pressure in the car is so great that the body only gets used to the forces while driving. When I learned a week before the opening race in Bahrain that I would race, I had to immediately start with fitness sessions," he said. "After the first two races, I was hardly able to hold my head up."<h2>Cardio work is also needed to combat g-forces</h2>The g-forces experienced by drivers also have a significant impact on breathing.In a video <a target="_blank" href="https://www.youtube.com/watch?v=3kMyNAI74As">produced by Scuderia AlphaTauri</a>, the Alpine driver Pierre Gasly, who was with AlphaTauri at the time, explained how much the g-forces impact a driver's ability to breathe, comparing it to a swimmer who spends much of a race with their face underwater."We spend, let's say, 70% of the lap not breathing, in apnea," Gasly said. "We can't breathe in the car because the g-forces are so high when you brake, when you go through the corner, when you accelerate. You can't breathe because you have too many forces on your body."Gasly and his then-teammate Yuki Tsunoda did endurance exercises and cardio work, such as running on a treadmill, to train the heart and lungs to be more efficient during the moments they can breathe during a race.While the drivers undergo rigorous training, they must also ensure they don't bulk up too much. After all, they're cramming into condensed cockpits."These cars are built to be as compact as possible," Albon told Insider. "The cars are designed not for 6-foot-2 athletes."

Formula 1 drivers need to weigh the same at every race. See inside their intense training regimen.

<ul class="summary-list"><li>This week, the defense in Trump's fraud trial called its first seven witnesses.</li><li>One was Trump's son, two were his friends, and one noted 'glaring' discrepancies in Trump's math.</li></ul>Over the past week, lawyers for Donald Trump, his real-estate empire, and his two eldest sons called their first seven witnesses to the stand in the <a target="_blank" href="https://www.businessinsider.com/trumps-ny-fraud-trial-opens-today-heres-why-still-matters-2023-9">the civil fraud case</a> that seeks to kick them all out of the New York business world for good.So how'd it go?Well, the first defense witness in the Manhattan courtroom was Donald Trump, Jr.<h2>Junior got back on the stand</h2>The former president's eldest son spent half of a day and more than 100 superlatives (he used the word "incredible" more than 50 times) <a target="_blank" href="https://www.businessinsider.com/donald-trump-jr-testifies-to-no-one-civil-fraud-trial-2023-11">on a slideshow presentation that celebrated his father's "vision."</a>"He's an artist with real estate," Donald Trump, Jr., testified Monday, as brochure-worthy photos of the Trump real-estate empire flashed across the courtroom's giant overhead screens, filing them with gilt finishes, chandeliers, and palm trees.<div type="image" title="donald trump jr court trial" height="2001" width="3000" msid="105316814" hostid="261" sizebytes="1026460"></div>The defense has yet to explain how the son's Trump Organization infomercial counters the state's fraud allegations, which accuse the Trumps of <a target="_blank" href="https://www.businessinsider.com/trump-net-worth-math-even-fuzzier-than-ny-last-alleged-2023-9">wildly overvaluing their properties in annual net-worth statements </a>they gave to banks and insurers, many of them signed by Donald Trump, Jr.But the former president's lawyer, Christopher Kise, has promised to prove that the elder Trump knows too much about real estate to wildly overvalue his properties."He has made a fortune, literally, being right about real estate investments," Kise said in opening statements.In any event, Monday's palm trees were a nice break from the Excel spreadsheets that usually fill those courtroom screens.<div type="image" title="Donald Trump" height="683" width="1024" msid="105316815" hostid="261" sizebytes="24624"></div><h2>The first defense expert witness: a Trump mega-donor</h2>The third defense witness to take the stand, <a target="_blank" href="https://www.businessinsider.com/trump-fraud-trial-experts-offer-chillaxed-theory-of-asset-valuation-2023-11">developer Steven Witkoff, </a>was, like Donald Trump, Jr., hardly an objective source of testimony.He is a Republican fundraiser and mega-donor, <a target="_blank" href="https://www.businessinsider.com/trump-fraud-trial-experts-offer-chillaxed-theory-of-asset-valuation-2023-11"> who took the stand Tuesday,</a> has given more than $2 million to Trump as of May 2021, <a target="_blank" href="https://www.propublica.org/article/trump-spawned-a-new-group-of-mega-donors-who-now-hold-sway-over-gops-future#:~:text=Steven%20Witkoff%2C%20a%20New%20York%20real%20estate%20friend%2C%20gave%20more%20than%20%242%20million%20and%20served%20as%20an%20informal%20adviser%20on%20tax%20cuts%2C%20opioids%20and%20reopening%20businesses%20during%20the%20pandemic.%20He%20has%20also%20since%20become%20a%20DeSantis%20backer.%20Witkoff%20didn%E2%80%99t%20respond%20to%20requests%20for%20comment.">according to ProPublica.</a>Witkoff had never before testified in court as an expert in anything. But on Tuesday he became Trump's first expert witness, in the field of real estate valuation."He's been a really good friend to me," Witkoff said of Trump, whom he first met in 1986 while on line at a Manhattan deli."He didn't have any money," Witkoff remembered on the stand. "He asked me if I could order him a ham and Swiss sandwich."Appraising is a subjective art, Witkoff testified, and even experts "get it wrong."On cross-examination, Witkoff, whose best known project is the residential conversion of Manhattan's historic Woolworth Building, conceded he is not, himself, an appraiser.He also admitted he never reviewed key documents in the case, including the ground lease Trump holds for <a target="_blank" href="https://www.businessinsider.com/donald-trump-appraisers-cant-explain-40-wall-street-doubled-value-2022-4">40 Wall Street in Manhattan</a>.Three days into the defense case, then, the judge in the non-jury trial had heard mostly from non-experts with little objectivity: one of Trump's sons and one of his donors.<div type="image" title="donald trump zipped lips court testimony" height="2604" width="3904" msid="105316816" hostid="261" sizebytes="3928594"></div><h2>An accounting expert who may have bolstered the case against Trump</h2>It was time, though, for perhaps Trump's most important defense witnesses, his accounting expert.Late Tuesday, the defense called Jason Flemmons, a top-tier expert with impeccable credentials — he is a former fraud enforcer for the Securities and Exchange Commission.Flemmons spent three days on the witness stand going through ten years of Trump's net-worth statements, and <a target="_blank" href="https://www.businessinsider.com/trump-gets-beat-up-by-his-own-fraud-trial-expert-2023-11">pointing out the same "glaring" problems, "inconsistencies," and "red flags," </a>that the attorney general complains about, though he blamed these all on Trumps accountants.When an attorney for James suggested on cross that the SEC would scoff at a "throw the accountant under the bus" defense, the judge sustained the defense side's objection and Flemmons didn't have to answer.At end of cross-examination, <a target="_blank" href="https://www.businessinsider.com/trumps-expert-accountant-couldnt-ballpark-his-fraud-trial-billing-2023-11">Flemmons flubbed his final math question:</a> how much is Trump paying for your testimony?<h2>A real estate expert who never evaluated net worth</h2>Real estate expert Steven Laposa testified on Thursday and Friday, telling the judge that the AG's office lowballed the value of Trump's properties by relying on market value instead of investment value.On cross-examination, Laposa admitted he has no professional experience evaluating net-worth statements. He admitted he is not a certified appraiser, and has never appraised a commercial or residential property.He also admitted he only reviewed a single appraisal in the Trump case, that for 40 Wall Street.<div type="image" title="Trump was seen standing on the course ahead of the LIV Golf Invitational series tournament at his New Jersey golf club on August 9." height="2285" width="3693" msid="105316818" hostid="261" sizebytes="266440"></div><h2>Trump's insurance broker and golf buddy</h2>Rounding out the week on Friday was Trump's seventh defense witness, Gary Giulietti, a Palm Beach-based insurance broker. His multi-billion-dollar brokerage firm, Lockton Companies, earned $1.2 million last year as Trump's insurance broker, he said.Giulietti took the stand to testify that Trump did not commit insurance fraud, because the former president's ex-broker would not have relied on net-worth statements in setting insurance terms.That firm, Zurich Insurance Group, relied on "airballs and witchcraft" in setting terms, not net-worth statements, Giulietti had said in a pre-trial deposition, and he stood by that assessment Friday.Again, as with the mega-donor who was Trump's real-estate valuation expert, Giulietti was far from the most disinterested, objective witness.Asked of his friendship with Trump, he said, "I play golf with him occasionally, go to lunch with him occasionally."He said he didn't have a real estate license — he doesn't need one to be a broker, he explained.The trial continues Monday with more defense testimony, starting with testimony by yet another insurance and underwriting expert.

Trump's fraud trial defense has featured 1 son, 2 pals, and an expert who noted 'glaring' math snafus 

<ul class="summary-list"><li>Home Depot says the $1 billion boost to worker pay that it announced earlier this year is already yielding results.</li><li>The move has led to better staffing, which has improved customer satisfaction and worker safety, the company told investors.</li></ul>Home Depot says its decision earlier this year <a href="https://www.businessinsider.com/walmart-home-depot-spend-major-cash-on-worker-wages-2023-2">to invest $1 billion in higher wages for its workers</a> is already yielding measurable results. "We're seeing improvements in key customer service metrics as well as benefits to our operations in the form of consistent staffing and less safety incidents across all regions," Home Depot's executive vice president for US stores, AnnMarie Campbell, told investors on Tuesday. "These improvements are exactly what we set out to achieve with this wage investment."The additional spending, <a href="https://ir.homedepot.com/~/media/Files/H/HomeDepot-IR/press-release/q4-2022-earning-release.pdf" target="_blank" rel="noopener">announced</a> in February, allowed Home Depot to boost its starting pay to at least $15 an hour for frontline hourly associates nationwide, and also included improvements to benefits, training, and career development.Campbell said the wage boost has enabled Home Depot to hire top-tier workers across the US — and keep them for longer, even as <a href="https://www.businessinsider.com/retail-worker-quits-are-on-the-rise-again-even-as-stores-sweeten-wages-2023-3">labor turnover remains high</a> in the retail industry. Tuesday's update was part of the first-quarter earnings call in which the company came up well short of analysts' – and its own – expectations on a combination of bad weather out West and softening demand for big-ticket merchandise. Net earnings plummeted 8.5% and sales fell 4.2% from the same period the year before.When asked how this additional expense would be evaluated against a gloomy financial outlook that rattled the stock market, including an impact on competing retailer Lowes, CFO Richard McPhail held firm: "The investment in wage — which has really proven to have driven a lot of benefit on the customer experience side — that's embedded in our guidance."If you are a Home Depot worker who wants to share your perspective, please <a href="mailto:dreuter@insider.com" target="_blank" rel="noopener noreferrer nofollow">contact Dominick via email</a> or Signal 646.768.4750. Responses will be kept confidential, and Insider strongly recommends using a personal email and a non-work device when reaching out.

Home Depot says its $1 billion boost to wages has already improved customer satisfaction and worker safety &ndash; a bright spot in an otherwise gloomy Q1

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Home Depot says its $1 billion boost to wages has already improved customer satisfaction and worker safety – a bright spot in an otherwise gloomy Q1