Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<keyword id="4233468" type="General" weightage="80" keywordseo="mg-motor-india" source="Orion">MG Motor India</keyword> on Wednesday said it plans to offer majority stakes to local partners over the next 2-4 years as part of a five-year business roadmap in the country. <keyword id="5287148" type="General" weightage="100" keywordseo="mg-motor" source="Orion">MG Motor</keyword> is a British brand which is currently owned by China's largest automaker <keyword id="317281" type="General" weightage="20" keywordseo="saic-motor-corp-" source="Orion">SAIC Motor Corp.</keyword> <br /><br /> The automaker, which has lined up Rs 5,000 crore to expand operations in the country by 2028, has been looking to raise capital for sometime now to fund its next phase of growth. <br /><br /> The company's plans to bring in more capital to the country from its Chinese parent have not been successful so far. <br /><br /> As per industry sources, the automaker has been waiting for government approval for around two years now and has therefore started looking for other options to raise capital. <br /><br /> Elaborating on its roadmap, the company said it has plans to set up its second manufacturing plant in the country, taking its installed capacity to 3 lakh units per annum and roll out new products for the domestic market, including electric vehicles, as part of its five-year business roadmap in the country. <br /><br /> The company currently rolls out products from its manufacturing plant in <keyword id="6389723" type="General" weightage="20" keywordseo="halol" source="Orion">Halol</keyword>, Gujarat, which it had acquired from <keyword id="4581" type="General" weightage="50" keywordseo="general-motors" source="Orion">General Motors</keyword>. <br /><br /> The Halol plant can produce up to 1.2 lakh units per year. <br /><br /> The automaker said it aims to launch 4-5 new cars in the country, with a focus on EVs. <br /><br /> The company expects its EV portfolio to contribute up to 65-75 per cent of total sales in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>, it noted. <br /><br /> The automaker said it is also exploring setting up cell manufacturing and hydrogen fuel-cell technology through joint ventures or third-party manufacturing. <br /><br /> With expansion plans in place, the automaker aims to have a total workforce of 20,000 by 2028. <br /><br /> "The company's unwavering dedication to India is deeply ingrained in our <keyword id="16833980" type="DOMAIN" weightage="20" keywordseo="ethos" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="ethos" meta.entityname="Ethos Ltd." meta.entityid="23844" meta.seoname="ethos-ltd">ethos</keyword>. As we pave the way for our next phase of sustainable growth, we have outlined a clear roadmap and vision for 2028. Our growth strategy is centred around strengthening localisation, aligning more closely with the government's 'make in India' initiative while innovatively augmenting our promise consistently, and diligently meeting the evolving needs of the market," MG Motor India CEO <keyword id="17374417" type="General" weightage="50" keywordseo="emeritus-rajeev-chaba" source="Orion">Emeritus Rajeev Chaba</keyword> stated. <br /><br /> He further said that the automaker is committed to making a positive impact on society. <br /><br /> Chaba also highlighted the company's focus on promoting gender diversity. <br /><br /> The company said it aims to train 1,00,000 students under its 'MG Nurture' programme. The students will be trained in EV, <keyword id="2572482" type="General" weightage="50" keywordseo="adas" source="Orion">ADAS</keyword> and connected car technologies. <br /><br /> MG Motor India sells models like <keyword id="1027495" type="General" weightage="50" keywordseo="hector" source="Orion">Hector</keyword>, Astor, <keyword id="1218145" type="DOMAIN" weightage="20" keywordseo="gloster" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="gloster" meta.entityname="Gloster Ltd." meta.entityid="12267" meta.seoname="gloster-ltd">Gloster</keyword> and ZS EVs in the market. It recently introduced a small EV, Comet, in the domestic market.<br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/top-10-fastest-fifties-in-ipl-history/slidelist/100126211.cms">Top 10 fastest fifties in IPL history</a><br /></strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/investment-supertrends-2023-ai-to-digitalisation-and-green-energy/articleshow/100126382.cms"><strong>AI to digitalisation and green energy: Supertrends defining investment for today and the future</strong></a><br />

MG Motor India plans to dilute majority stakes to local partners

<ul><li>Ethos is opening its new office in the tech hub of <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> — Bengaluru.</li><li>It will be hiring 150 people by next year or so for its engineering, data science and analytics and other departments.</li><li>The company will also be moving to other states like Hyderabad and Mumbai, Wange told Business Insider in an interview.</li></ul>Ethos, which is a United States-based term life insurance provider company, is all set to enter the Indian market by opening its new office in the tech hub of India — Bengaluru — to expand its technology innovation, engineering research and development, data analytics, data science, and operations, with a significantly large business delivery teams.<br /><br />To grow its business in India, the US company will be hiring 150 people by next year or so, which will be 30% of the total workforce of the company. It will be hiring people around in Bengaluru largely for engineering, data science and analytics, product management, and revenue and sales, told Lingke Wang, cofounder and president at Ethos to Business Insider in an interview.<br /><br />Wang said, “A lot of our top leadership is from India and after extensive research, we decided to set up an office in Bengaluru, as the city is fast emerging as a center for exceptional talent. We believe that this office will be critical for our next growth phase. India is home to one of the largest tech and analytics talent pools, and we plan to set up a significant business delivery team here, as well as build a team of experts that will help transform the lives of millions through our mission of making life insurance accessible and affordable for all.” <br /><br />The reason behind hiring, he mentioned, “The part of the reason why we’re hiring people in Bengaluru is because we need skill in our company to continue to grow our business.”<br /><br />When asked about further growth plans in India, Wange expressed his interest in moving to other states like Hyderabad, and Bombay (Mumbai). He said, “ Down the road opening more offices is definitely on the table. We may look into some areas like Hyderabad because we can see the potential opportunity and of course Bombay, but our real focus right now is to work on our Bengaluru office.”<br /><br />The company has raised over $400 million from an all-star cast of investors, including – Softbank Vision Fund 2, Sequoia Capital, Accel, GV (formerly Google Ventures), General Catalyst, Jay-Z's Roc Nation, and the investment vehicles of stars Will Smith and Robert Downey Jr.<br /><br />It will use the latest fund raise to grow and expand its business in India.<br /><br />The company claims that it issued $13 billion in life insurance coverage last year and was valued at $2.7 billion in 2021 and overall revenue and users grew by more than 600% year-over-year in 2021.<br /><br />Ethos has its offices in Austin, San Francisco, Seattle, and Singapore.<br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/with-an-eye-on-ipl-mukesh-ambani-boosts-his-war-chest-with-a-13500-crore-investment-from-murdoch/articleshow/91141584.cms">With an eye on IPL, Mukesh Ambani boosts his war chest with a ₹13,500 crore investment from Murdoch</a><br /></strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ola-may-be-rushing-into-electric-cars-when-scooters-continue-to-underperform/articleshow/91141264.cms"><strong>Is Ola hurrying into its electric car dream?</strong></a><br />

US-based life insurance provider Ethos to set up its office in Bengaluru and hire 150 people in India

<strong>Disclaimer:</strong> The article is authored by Mr. <keyword id="5518899" type="General" weightage="80" keywordseo="murali-rao" source="Orion">Murali Rao</keyword>, Cybersecurity Consulting Leader, <keyword id="1919178" type="General" weightage="80" keywordseo="ey-india" source="Orion">EY India</keyword>.<br /><br />Parents today have an unenviable task – bringing up children in a world where cyberspace is all encompassing, which brings with it not just empathy and respect but also danger, conceit, and deceit. No parent can avoid exposing their child to the digital or cyberworld in the current environment. And while the digital world or cyber space is a source of immense positive influence, it also exposes the child to digital personas who are not benign.<br /><br />The digital personas are omnipresent in the child’s digital world and they heavily influence the child’s choices in terms of digital content. A malicious digital persona can expose the child towards inappropriate digital content and harmful URLs and can steal sensitive information and invade the child’s privacy.<br /><br />Parents need to be educated on the potential pitfalls to ensure that their kids are appropriately advised, shielded, and defended from these personas and their influences. Good parenting involves providing the right lessons, the environment, and the social ethos to ensure that the young ones have the right and appropriate inputs to shape them into good human beings. But in today’s digital world, focusing solely on the family and social ethos is not enough – it is also critical to learn, embrace, and imbibe the ‘Cyber Space Ethos’ as well.<br /><br />India has one of the youngest populations globally with an average age of 29 years. Over a quarter of its population – 25.78% to be precise – falls in the 0-14 age group. Almost another two-thirds – or 62.5% – is in the 15-59 age group. While this is great for India’s economic growth, the young and large population is also very malleable to digital influences.<br /><br />The millennials (23-38 years age group) and <keyword id="473290" type="General" weightage="80" keywordseo="generation-x" source="Orion">Generation X</keyword> (39-54 years age group) are busy exploring the possibilities and benefits of the digitized world. The digital revolution has opened up hitherto unimaginable possibilities for individuals, businesses, and the government. In this enthusiasm what is getting lost is the need to educate ‘<keyword id="2382027" type="General" weightage="20" keywordseo="generation-z" source="Orion">Generation Z</keyword>’ (7-22 years age group) and future generations from becoming vulnerable because they lack the maturity of the Millennials and Gen X. Of course, the question then arises as to whether even the entire older generation is fully aware of the dangers of the digital world and cyber space.<br /><br /><ul><li>Do the parents know enough? <br /></li><li>Are they aware of the implications for their young ones from the cyber space?<br /></li><li>How does one enable parents to protect and defend their loved ones from criminals, stalkers, molesters, fraudsters, influencers (appropriate or inappropriate) etc., in the cyber space?</li></ul>Assessing cyber awareness and cyber safety knowhow among the millennials and gen X is probably the need of the hour. It is time that we as cyber enthusiasts take a lead in this journey. The key to this education lies in identifying the ‘Influencers’ and the ‘Drivers of the Influencers’. For example, the government is the driver for the corporates as the influencer. The corporates are in turn the driver for the consumer as the influencer. The courts are the driver for India’s population for their rights.<br /><br />The pillars of the Indian or the global society need to understand the paradigm shift required to bring in ‘Cyber Space Ethos’ or ‘<keyword id="15391055" type="General" weightage="80" keywordseo="cyber-cultural-ethos" source="Orion">Cyber Cultural Ethos</keyword>’. The governments, judiciary, corporates, enterprises, service providers, media/Press, law enforcement agencies, educational institutions etc., have to take the lead. Cyber security of children is probably one of the most critical aspects that needs to be governed, monitored, and enforced, and which would have a telling effect on future generations.<br />

Parenting in the ‘Cyber World’

<p><a href="https://www.businessinsider.com/category/innovation-leaders"></a></p><div type="image" title="Tamas Kadar - founder and acting CIO of SEON" height="2536" width="3382" msid="93011506" hostid="261" sizebytes="171526"></div><ul class="summary-list"><li><keyword id="14510314" type="UNKNOWN" weightage="60" keywordseo="seon" source="Orion">SEON</keyword>, a <keyword id="14510315" type="UNKNOWN" weightage="60" keywordseo="fraud-prevention" source="Orion">fraud prevention</keyword> service, is Hungary's most well-funded tech startup ever. </li><li>Founder and CIO Tamas Kadar uses an ethos of self-reliance and strong partnerships to drive innovation.</li></ul><p>Tamas Kadar is the 28-year-old founder and acting CIO of Anglo-Hungarian SEON, the world's fastest growing fraud prevention business. After recently receiving a $94m series B from IVP, SEON is Hungary's most well-funded tech start-up ever. </p><p>The business is at an important moment in its growth journey, having secured $94m of Series B funding investment, led by Silicon Valley-based IVP back in April 2022. It's in hyper-scale. "As a business, our current priority is to rapidly scale up operations, while also entering new markets and geographic territories," Kadar said. "To do this, we're actively pursuing talent acquisition and bolstering our company ranks with amazing new team members weekly, supporting further growth for SEON." </p><p>SEON aims to be the fraud prevention choice for online businesses accepting new customers, a big market segment. "More than anything, our aim is to help eradicate online fraud," he said. "I hate to say it, but in general, right now, fraudsters are winning the war online. Too many businesses are losing out to fraudulent activity, and it's our mission to make sure that ends as soon as possible."</p><p>SEON's mission is a global one. This year, the company opened an office in Austin, Texas as part of its plans to further develop the brand in the US and triple the size of its US team. "Additionally," Kadar said, "we will look to make further inroads within the APAC region, and of course continue to reaffirm our position in <keyword id="11897120" type="UNKNOWN" weightage="60" keywordseo="europe" source="Orion">Europe</keyword>, with our commercial HQ in London. LATAM expansion will come later in the year."</p><p>The economic downturn means that fraud is only going to increase. "As such, businesses now need to proactively invest in defense before the problem worsens," Kadar said. "Ultimately, this changing market dynamic has to affect how businesses evaluate online fraud. Moving forward, businesses will be unable to simply absorb company losses as they may have before."</p><p>Online fraud is a real cat-and-mouse game. "We're continually investing in technologies that allow us to scale across industries and geographic territories," Kadar said. From the beginning, the company's approach to core tech has been to build your own. This, he said, "has allowed our system to be highly flexible. To support this, we've also had to form strong partnerships in the spaces relevant to our <keyword id="11893017" type="UNKNOWN" weightage="60" keywordseo="technology" source="Orion">technology</keyword>, which have helped us to further expand our capabilities across several markets." This support includes the likes of Revolut, NuBank, and mollie, all at the cutting edge of their respective fields. </p><p>Kadar is excited about where new tech will take the company and the industry. "In many ways, it feels like we're on the precipice of a new era of technology, which may be dominated by more immersive experiences and decentralised solutions," he said. "As a fan of technology, this prospect really excites me. I think in the next few years we'll start to see big changes in the ways we connect with one another online, whether that be through the <keyword id="11121339" type="UNKNOWN" weightage="60" keywordseo="metaverse" source="Orion">metaverse</keyword>, or from some of the Web 3.0 solutions coming to the fore." However, he warned, "this industry excitement must be tempered with a recognition that effective fraud prevention protocols will soon be more important than ever."</p>

Founder and CIO of Hungary's most-funded tech startup uses ethos of self-reliance and strong partnerships to drive innovation

<ul><li><keyword id="6360312" type="General" weightage="20" keywordseo="ONLY" source="Orion">ONLY</keyword> has launched its new anthem, The ONLY Thing I Want is Everything, ahead of the festive season.</li><li>The anthem features actor Ananya Pandey.</li><li>The ad has been created by <keyword id="180259" type="General" weightage="20" keywordseo="dentsu" source="Orion">Dentsu</keyword>.</li></ul>ONLY has launched an anthem, “The ONLY Thing I Want is Everything” festive campaign. The face of ONLY, Bollywood Actress <keyword id="3805597" type="General" weightage="20" keywordseo="ananya-panday" source="Orion">Ananya Panday</keyword>, features in a fun video created to inspire the ONLY girl and celebrate her uniqueness through authentic self-expression.<br /><br />  <div type="Youtube" id="Qv44T3afbTE" title="ONLY | ONLY THING I WANT IS EVERYTHING | ANANYA PANDAY" thumbUrl="https://i.ytimg.com/vi/Qv44T3afbTE/mqdefault.jpg"></div><br />The ONLY girl is highly ambitious and also selective about what she wants. She loves her own company and is also the life of every party! And capturing this fascinating enigma between only and everything is the foundation of the campaign. The Gen-Z attitude of not wanting to settle for one thing and in turn wanting it all at once is perfectly captured in a memorable track which is all set to become the new age anthem.<br /><br />“This campaign was extra special for me as it allows me to re-iterate the idea that we really want it all. ONLY reflects what my generation represents: the importance of being true to ourselves while continuing to reach for the stars. And it only helps to do it all wearing ONLY.” Actress, Ananya Panday said on the association.<br /><br />“Remaining true to our brand’s core essence, it was important for us to re-iterate and celebrate the ONLY girl we designed for. This campaign and the new collection is emblematic of the modern ONLY consumer - aspirational, confident and edgy, and they define success on their terms. We are thrilled at this representation of the ONLY girl!” says Mr. <keyword id="332449" type="General" weightage="20" keywordseo="vineet-gautam" source="Orion">Vineet Gautam</keyword>, CEO and Country Head at Bestseller India.<br /><br />ONLY partnered with Dentsu, a multinational media and digital marketing communications company, to create this campaign.<br /><br /><keyword id="12269595" type="General" weightage="20" keywordseo="titus-upputuru-creative-head" source="Orion">Titus Upputuru, Creative Head</keyword>, <keyword id="2805309" type="General" weightage="20" keywordseo="taproot-dentsu" source="Orion">Taproot Dentsu</keyword> said, “It was fun working for ONLY’s festive campaign. Today’s young women are extremely ambitious. But, they are also very selective about what they want. We found this conundrum very interesting; the tension between Only and Everything. That’s how the idea came up: ‘The only thing I want is everything’. The ONLY collection for the season is amazing and Ananya Panday was sweet to work with. I had fun writing the song and was happy with the way the music turned out too. It’s got zing!”<br /><br /><keyword id="3345866" type="General" weightage="20" keywordseo="abhinav-kaushik" source="Orion">Abhinav Kaushik</keyword>, Office Head, Taproot Dentsu added “The excitement that we had whilst working on this ONLY campaign is abundantly visible through the super-cool execution. The Gen-Z attitude and the personality of the ONLY girl is brought to life in a manner that beautifully straddles the life and times of these millennials, their ambition and their desire to access, possess and be a part of everything and more – in a limited time. Their days filled with choices and tasks, and they don’t want to compromise on anything. That’s why the ONLY THING THEY WANT IS EVERYTHING.”<br /><br /><br />

ONLY's new anthem featuring Ananya Pandey is all about celebrating the ethos of individuality and women empowerment

<ul class="summary-list"><li><a href="https://www.insider.com/category/cristiano-ronaldo">Cristiano Ronaldo</a>'s former teammates have hit out at the Portuguese forward's contributions.</li><li>Italian media outlet Tuttosport reports that Ronaldo breached <keyword id="11929580" type="UNKNOWN" weightage="60" keywordseo="juventus" source="Orion">Juventus</keyword>' key principles of "equality, unity, and humility."</li></ul><p><a href="https://www.insider.com/category/cristiano-ronaldo">Cristiano Ronaldo</a> has been slammed by his former teammates with claims he broke the ethos of "equality, unity, and humility" at the club.</p><p>The Portuguese forward, who now plays for <a href="https://www.insider.com/category/manchester-united">Manchester United</a>, spent three years at Italian club <a href="https://www.insider.com/category/juventus">Juventus</a> but his former teammates claim he was "never part of the pack."</p><p><a href="https://www.tuttosport.com/news/calcio/serie-a/juventus/2021/10/22-86430770/ronaldo_e_juve_le_verit/2">According to Italian media outlet Tuttosport</a>, his former teammates were unhappy with Ronaldo's defensive contributions.</p><div type="image" title="Cristiano Ronaldo of Juventus and Leonardo Bonucci of Juventus (L) during warm up during the Serie A match between Juventus and Torino FC at Allianz Stadium" height="1275" width="1703" msid="87312875" hostid="261"></div><p>The media organization also reports that Ronaldo's lack of contribution broke an ethos that the club had worked to form based on "equality, humility and unity."</p><p>Tuttosport's report points to comments in recent months from veteran defenders Leonardo Bonucci and Giorgio Chiellini, both critical of Ronaldo's influence on the team.</p><p>Speaking at the end of September, Bonucci effectively said that <a href="https://www.insider.com/cristiano-ronaldo-leonardo-bonucci-fires-warning-to-manchester-united-2021-10">Ronaldo's presence made many of his teammates lazy,</a> as they started to believe he could single-handedly win them games.</p><p>"We began to fall a little short in our daily work, the humility, the sacrifice, the desire to be there for your teammate day after day," he told the Athletic.</p><p>"Do we play more as a team? It is absolutely true," he said at a later date, per Tuttosport's report.</p><p>"This year we are rediscovering that right humility that is needed to regain victory."</p><div type="image" title="Giorgio Chiellini" height="2000" width="2666" msid="87312877" hostid="261"></div><p>Bonucci's words were echoed by his defensive teammate Giorgio Chiellini who said Ronaldo needed "new stimuli and a team that played for him," Tuttosport reported.</p><p>Ronaldo joined Juventus for 100 million euros ($116 million) in July 2018 and scored 81 goals in 98 Serie A games. However he did not achieve the objective he was signed for, helping Juventus win the UEFA Champions League.</p><p>Towards the end of his time at Juventus there was much speculation that <a href="https://www.insider.com/cristiano-ronaldo-abandoned-fed-up-juventus-teammates-after-ferrari-trip-2021-5">he had lost support in the dressing room,</a> particularly after <a href="https://www.insider.com/cristiano-ronaldo-skips-training-to-buy-2-million-ferrari-2021-5">an incident in which he skipped training to collect a $2 million Ferrari.</a></p><p>Since joining <keyword id="11895952" type="UNKNOWN" weightage="60" keywordseo="manchester-united" source="Orion">Manchester United</keyword>, he has scored six goals in 10 games but <a href="https://www.dailymail.co.uk/sport/football/article-10126341/PETER-CROUCH-Sorry-Cristiano-Ronaldo-standing-just-isnt-cool-more.html">has again been criticized for his lack of defensive contribution.</a></p><p>United are struggling this season even with Ronaldo in the team, and <a href="https://www.insider.com/cristiano-ronaldo-has-disaster-in-biggest-game-of-manchester-return-2021-10">the star had a nightmare game on Sunday against arch rival Liverpool.</a> Ronaldo himself was almost sent off and had a goal disallowed, while his team lost 5-0.</p>

Cristiano Ronaldo's former teammates are rallying against him, saying he broke Juventus' ethos of 'equality, unity, and humility'

<p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><ul><li><strong>"Owning the libs" is a tongue-in-cheek expression to either describe rattling Democrats and progressives or conservatives making their own missteps in the attempt to do so.</strong></li><li><strong>The phrase has accelerated among online trolls, campus activists, and much of the conservative right.</strong></li><li><strong>The deeper meaning behind the strategy and tactics being carried out to "own the libs" is a major point of contention among traditional conservatives in the new Trump era of the GOP.</strong></li></ul><p>WASHINGTON - In the era of President Donald Trump, during his campaign for the presidency and nearly two years as commander in chief, many Republicans and conservatives have adopted a new ethos: own the libs at all costs.</p><p>The expression to "own the libs" is a often used as a tongue-in-cheek criticism of obscure but increasingly common right-wing tactics ranging from <a href="https://www.businessinsider.com/trump-aid-farmers-tariffs-trade-war-republican-reaction-2018-7">upending GOP orthodoxy on policy</a>, to throwing your own expensive coffee machine <a href="http://fortune.com/2017/11/13/sean-hannity-conservatives-battle-keurig-machines-pulls-ads/">out the window</a>&#xa0;in protest of an ad boycott, to <a href="https://gizmodo.com/tweets-about-diapers-broke-the-entire-conservative-yout-1823345007">wearing diapers</a> during a campus demonstration.</p><p>It simply means that Republicans enjoy to a great degree, sometimes even more than actual policy achievements, opportunities to make Democrats and liberals feel bad or face plant. The conservatives who like to own the libs do it because it feels good and it's funny.</p><p>Owning the libs has come into full effect in 2018. Most recently, Attorney General Jeff Sessions chuckled and mimicked part of the "lock her up!" chant directed at Hillary Clinton during a speech to high-school-aged conservatives.</p><p>The phrase also drew the attention of US Ambassador to the United Nations Nikki Haley.</p><p><span>"Raise your hand if you've ever posted anything online to quote-unquote 'own the libs,'" Haley asked the <a href="http://thehill.com/blogs/blog-briefing-room/news/398466-haley-tells-high-schoolers-to-avoid-own-the-libs-style-online">teenage students</a> attending the same conference as Sessions.</span></p><p>"I know that it's fun and that it can feel good, but step back and think about what yo''re accomplishing when you do this - are you persuading anyone? Who are you persuading?" Haley said. "We've all been guilty of it at some point or another, but this kind of speech isn't leadership - it's the exact opposite."</p><p><span>"Real leadership is about persuasion, it's about movement, it's bringing people around to your point of view," she added. "Not by shouting them down, but by showing them how it is in their best interest to see things the way you do."</span></p><p>Conservative student activist groups have played a significant role in the build up of "owning the libs" as a core principle on the right.</p><p>Groups like the Young America's Foundation and Turning Point USA have vast networks across college campuses where students can organize, host events, and propel themselves into careers in media and <keyword id="6358883" type="UNKNOWN" weightage="100" keywordseo="politics">politics</keyword>. Both YAF and TPUSA, while <a href="https://www.washingtonexaminer.com/opinion/young-americas-foundation-warns-charlie-kirk-could-cause-long-term-damage">at odds with one another</a>, utilize a heavy strategy of provoking what they view as a liberal control of America's colleges and universities.</p><h2><span>An online aristocracy of lib owners</span></h2><p>The expression lives and breathes on the internet, with Twitter as its home base.</p><p>Ben Shapiro, a conservative commentator and editor in chief of the highly successful, right-leaning website The Daily Wire told Business Insider in a phone interview that while owning the libs can be a funny, sarcastic game on Twitter, it is also representative of a larger problem on the conservative right.</p><p>"Ticking off the left by just saying nasty things is not productive," he said. "And it wasn't defeating political correctness, it's actually exacerbating political correctness. Because when yo''re a jerk just to piss people off then the natural reaction by people tends to be 'well we need more restrictions on speech, we need more political correctness, not less.'"</p><p>In some ways, Shapiro is one of the original owners of the libs. For years, he has given regular speeches at college campuses where he discusses conservative ideas and argues with progressive protesters. He also hosts one of the top podcasts on iTunes, during which he drinks out of a mug emblazoned with the slogan "LEFTIST TEARS."</p><p>But Shapiro says there is a fundamental distinction between what he does and what is done by other right-leaning trolls. He says his speeches and campus activism are relatively civil on his part and that he emphasizes fact-based arguments.</p><p><span>"Even in all those 'Ben Shapiro destroys' videos that people put up on the internet, I'm pretty civil in those conversations," Shapiro noted. "It's not me calling the person a name."</span><span></span></p><p><span>What it comes down to for Shapiro is that even if progressives are infuriated by what he's saying, it has to also be advancing conservatism in some way, shape, or form.</span></p><p><span>"If you want to truly own the libs, the only way to do that is to actually win an argument," he said. "Not alienate them by saying jerky things that make them upset."</span></p><p>One individual who has helped take the phrase into the mainstream is the Twitter troll @ComfortablySmug, often just referred to as "Smug." He <a href="https://www.buzzfeednews.com/article/jackstuef/the-man-behind-comfortablysmug-hurricane-sandys" target="_blank" rel="noopener">rose to infamy</a> by spreading false information during Hurricane Sandy, and now he regularly targets Democrats and boosts the president's tweets and actions.</p><p>In addition to owning the libs, Smug has also made a habit of tweeting at Republican Sen. Marco Rubio, often telling him to resign, that he is a disgrace, or that his loss in the 2016 Republican presidential primaries was a dodged bullet for the United States. Rubio's staff are very much aware of Smug's tweets, which they often find funny but also extremely annoying at times.</p><p>But Smug is just a Twitter super troll, which if it is not blatantly obvious, is even stated so in his <a href="https://twitter.com/ComfortablySmug/status/940758499239366659">pinned tweet</a>, which reads, "This is a joke you f--- morons."</p><p>On another level of owning the libs is Jacob Wohl, who ran a hedge fund as a teenager that has been <a href="https://www.thedailybeast.com/jacob-wohl-teen-hedge-funder-turned-pro-trump-media-star-was-accused-of-cheating-clients">accused of scamming</a> and improprieties. He's a major online troll who uses inflammatory and hyperbolic tweets to elevate Trump in every way possible.</p><p>Wohl is different from Shapiro, a conservative idealist, or Smug, who is = clearly trolling. Users on Twitter often wonder if Wohl is a parody account or just madly obsessed with Trump.</p><p>Every time Trump tweets, Wohl replies immediately with unfettered praise for the president or wild comments about the president's enemies.</p><p><span>"Has Vladimir Putin ever chanted 'Death to America'? NO! Has President Rouhani ever chanted 'Death to America'? YES," Wohl <a href="https://twitter.com/JacobAWohl/status/1021238763127824390">wrote in response to Trump's tweet</a> at Iranian President Hassan Rouhani. "Which one does the MSM spend all day bashing?"</span></p><p>In a telephone interview with Business Insider, Wohl said that the act for him is fun, evoking in people<span>&#xa0;"the type of unhinged emotional response that you would expect out of somebody who is suffering a serious mental episode of some kind or another."</span></p><p><span>For Wohl, owning the libs is "where you can do something as simple as pull a 'Make America Great Again' hat out of your briefcase, put it on your head, and somebody will start crying."</span></p><p><span>"And it's just incredible. It's funny. Of course it's funny," he added. "It's the same kind of humor that you'd see when parents tell the kids that Christmas is cancelled and they say just kidding. It's like why are these adults acting with such infantile lack of control over their emotions?"</span></p><p>In terms of his shock-and-awe approach to tweeting massive hyperbole and outlandish things, Wohl said his methods are just at one end of a spectrum of political discourse.</p><p><span>"I could sit down and write a white paper the likes of which you'd see from the RAND Institute or the Atlantic Council, you name it," he said. "Or on the other side of the spectrum, I could say 'NUKE IRAN' with a nuke GIF and which one do you think is going to be most effective at spreading a message throughout Twitter and provoking conversation. Obviously the latter and not the former."</span></p><h2>Trump is still number one</h2><h2><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div></h2><p>The most powerful example is Trump himself. The former reality television star bulldozed over more than a dozen Republican challengers and a Democratic nominee in Hillary Clinton in 2016 by mocking, name calling, and beating his chest.</p><p>There are too many examples to count. Trump's morning tweetstorms often feature new nicknames and insults for his political opponents, he'll shout down and berate journalists in the middle of press conferences with foreign leaders, and much more.</p><p>And when most of the old-guard Republicans notice, they simply shrug it off as him being colorful or being a tough guy.</p><p>This week, when the White House announced it would revoke security clearances for former officials who have criticized Trump, House Speaker Paul Ryan brushed it aside as "just trolling" by the leader of the free world.</p><p>"<span>I think he's trolling people honestly," Ryan <a href="https://www.businessinsider.com/paul-ryan-trump-is-trolling-people-with-security-clearances-threats-2018-7">said in a press conference</a> Tuesday morning. "This is something that's in the purview of the executive branch."</span></p><p>Essentially, Ryan acknowledged that the White House was intentionally trying to provoke Democrats without any real agenda other than making them squirm and having a laugh about it. Ryan said this without any real hesitation or regret and went about his day.</p><p>Still, Republicans like Ryan, who tolerates Trump's tactics, and activists like Shapiro, who maintain that his actions are purely civil and well-intentioned, are in a very different Republican Party than what existed a decade ago. This new age is much more combative, with an entirely different set of priorities.</p><div></div>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/woke-up-430-am-like-navy-seal-exercise-discipline-2018-7">I woke up at 4:30 a.m. for a week like a Navy SEAL</a></h3>        <div>                    </div>    </div></hr>

How 'owning the libs' became the ethos of the right

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Dropbox</span></p><p class="caption">Dropbox cofounder and CEO, Drew Houston</p></div><p></p></div></div></p><ul><li><strong>Dropbox is aiming to have its IPO in the first half of 2018, according to reports.</strong></li><li><strong>Analysts aren't at all surprised, but have a few things at front of mind when it comes to anticipating how Dropbox will do as a public company.</strong></li><li><strong>The market for collaboration tools is huge, analysts say, but Dropbox needs to focus in on appealing to <keyword id="6356323" type="ENTERTAINMENT" weightage="100" keywordseo="Enterprise">enterprise</keyword> customers. </strong></li></ul><p><br />Dropbox has earned a consumer-friendly reputation by making it easy for non-techies to store family photos, school homework and other digital knick-knacks on the popular online service it launched ten years ago.  </p><p>But as the company prepares sell shares to the public in an IPO, it will need to button-up its image and win the favor, and the budgets, of picky business customers, according to analysts who follow the company. </p><p>"<span style="font-weight: 400;">The simple function of storing content is pretty well commoditized now and most of the people who are going to use that function are already using it," said Terry Frazier, a research director at industry research firm IDC. </span></p><p><span style="font-weight: 400;">The big growth for Dropbox, he says, will come by providing "increased functionality capabilities for business and enterprise customers."</span></p><p>Dropbox secretly filed the paperwork for an IPO, <a href="https://www.bloomberg.com/news/articles/2018-01-11/dropbox-is-said-to-file-confidentially-for-initial-offering">according to a Bloomberg report on Thursday</a>.  </p><p>The IPO has long been rumored to be in the works, and given Dropbox's last reported private market valuation of $10 billion, it's expected to be one of the biggest public offerings in tech this year.</p><p>Many of the details, including the size and valuation of Dropbox's planned IPO, are still unknown. The lens through which Wall Street will assess this big tech IPO is not ideal, however: <a href="http://markets.businessinsider.com/stock/SNAP-Quote">Snap's</a> much-hyped 2017 IPO has proven disappointing, with the stock now <a href="http://www.businessinsider.com/r-snap-shares-fall-below-17-ipo-price-for-first-time-2017-7">trading below its offering price</a>.</p><p>And Dropbox's closest parallel in the public markets, <a href="http://markets.businessinsider.com/stock/BOX-Quote">Box</a>, has faced a rocky ride on Wall Street. The stock soared 70% the day of its IPO in January 2015, then <a href="http://www.businessinsider.com/box-record-low-share-price-2015-8">plunged to its IPO price</a> and has only <a href="http://www.businessinsider.com/box-ceo-aaron-levie-is-proving-everyone-wrong-2016-3">recently returned</a> to the level it reached on its first day of trading.</p><h2>Dropbox is cash-flow positive, and it has room to grow</h2><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="https://www.flickr.com/photos/techcrunch/9723831797/in/photolist-aFgaCp-6yZoBW-daMrKq-chgBH1-9ahi5b-jYepFr-fPgW1D-h6tZqA-h6tV3B-fPgVTZ-d9UvR6-chgCGd-chgBW9-h6cyWr-sVUVXi-jYeKHZ-h6uzbv-d9Uwyo-chgCe7-fPgVXx-p8jzjj-h6uCr9-fPgW34-chgCVm-fPytpo-oSRMiG-fPytfy-fPgbqn-d9Uwto-fPxHXy-8oaQMZ-fPytiJ-d9Uwzh-p8jzmJ-rwkAMk-d9Uw6h-8odi7j-s9PqYp-p8jzdY-d9UvqF-d9UvEH-rw98Q7-d9UZav-sbvguQ-sbzjBL-rwkAJV-s9LoSg-h6tZ29-sbGfUR-sbDcYB">Flickr/ TechCrunch Disrupt 2013</a></span></p><p class="caption">Aaron Levie, CEO of Box, a Dropbox competitor</p></div><p></p></div></div>The good news for Dropbox is that it's in a healthy, fast-growing market.</p><p>The so-called content collaboration market grew by 40% in 2017, and Gartner forecasts that it will continue to grow by double-digit percentage points through at least 2021. </p><p>This means that there's more than enough room for both Dropbox and its competitors at Box, <a href="http://markets.businessinsider.com/stock/GOOG-Quote">Google</a>, and <a href="http://markets.businessinsider.com/stock/MSFT-Quote">Microsoft</a>, according to Karen Hobert, an analyst with Gartner. </p><p><span style="font-weight: 400;">"It's not a fight to the death," Hobert said. "We've seen significant growth and we anticipate significant growth in this market." </span></p><p><span style="font-weight: 400;">For 2018, Gartner forecasts 34% growth in the space, with steady declines on an annual basis. Over time, Hobert said, that growth could stabilize around 8% to 12% annually.</span></p><p><span>As a private company, Dropbox's financials results are still under wraps, but the company said in January 2017 that it was on track to </span><a href="http://www.businessinsider.com/dropbox-1-billion-annual-run-rate-2017-1">generate $1 billion in revenue on an annualized run rate.</a> <span>CEO</span><span> Drew Houston said in June 2016 that </span><a href="http://www.businessinsider.com/dropbox-is-free-cash-flow-positive-2016-6">Dropbox was "cash flow positive,"</a><span> an important gauge of financial health followed by Wall Street. </span></p><p>This is good news for any company, but especially one with potential traders looking for signs that Dropbox stock will see returns in the long-run. </p><h2>It's a success with consumers, but Dropbox needs to focus on businesses </h2><p>Dropbox has two core products: a freemium consumer file sharing service, with paid upgrades; and an enterprise-grade storage and collaboration platform. The company has around 500 million customers, but it's unclear how many of those are individuals, and how many use it for work. </p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Oli Scarff / Getty Images</span></p></div><p></p></div></div></p><p>Though Dropbox has a strong reputation in the consumer space, analysts said that it will need to focus more on its business clients if it wants to grow its market share. </p><p>IDC analyst Frazier said that while Dropbox has been less focused on its business product than rival Box has been, there is "certainly potential" for them to succeed with those customers. </p><p>One big advantage is Dropbox's approach to security and infrastructure. Most of Dropbox's services run on services owned and operated by the company, rather than third-party cloud storage providers like Amazon Web Services or Microsoft Azure.</p><p><span style="font-weight: 400;">"I'm really impressed with the approach to security that Dropbox takes - because they run their own infrastructure, they have their arms around everything," Frazier said. "</span><span style="font-weight: 400;">If I were an enterprise buyer, </span><span style="font-weight: 400;">I would be looking at that really closely at that as a potential competitive advantage."</span> </p><h2>Dropbox could struggle to keep its 'creative' brand once public </h2><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Karyne Levy/Business Insider</span></p><p class="caption">The Dropbox office T-shirt collection</p></div><p></p></div></div>In October, Dropbox rebranded to position itself as a the cool, creative collaboration tool. "We want to make work a place where creative energy flows," <a href="https://dropbox.design/">the company said in its announcement</a> of the rebrand. </p><p>Hobert thinks this positioning has worked for the company so far, but that it might pose a challenge to Dropbox once the company is facing constraints as a public company. </p><p><span style="font-weight: 400;">"Dropbox has always impressed me as a company that has a strong personal ethos around creativity and doing things the way they'd like to. Being private, they've benefited because they've been able to be innovative," Hobert said. </span></p><p><span style="font-weight: 400;">"Once they go public, they might have other pressures that hinder that ethos, that might put more imperative on delivering certain capabilities. </span><span style="font-weight: 400;">There will be a little bit of a sobering up because they no longer can be autonomous," she said. </span><span style="font-weight: 400;"></span></p><p class="tagline">Visit  <a href="http://markets.businessinsider.com/">Markets Insider</a> for constantly updated market quotes for individual stocks, ETFs, indices, commodities and currencies traded around the world. <a href="http://markets.businessinsider.com/">Go Now!</a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/exercise-workout-shape-routine-2016-12">An exercise scientist reveals exactly how long you need to work out to get in great shape</a></h3>        <div>                    </div>    </div>

Dropbox needs to find a new 'ethos' and more business customers for an IPO home run

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Ethos</span></p><p class="caption">Ethos cofounders, Lingke Wang and Peter Colis.</p></div><p></p></div></div></p><ul class="summary-list"><li>Three-year old San Francisco startup <a href="https://www.ethoslife.com/">Ethos</a> is upending the experience of buying life insurance.</li><li>The service offers plans to consumers almost instantly, without medical exams, and without pushy sales agents incentivized by commissions.</li><li>In a recent interview with Business Insider Ethos CEO Peter Coils said that most consumers can get coverage from his app in "ten minutes from their mobile devices while in line at Starbucks."</li><li>To help fund the budding endeavor, Ethos raised a $60 million Series C round in August led by Alphabet's investing arm GV, with participation from the likes of Sequoia, Goldman Sachs, and Accel.</li><li>In total, Ethos has raised over $100 million and is valued at nearly $500 million. </li><li>Below is the pitch deck that helped Ethos convince investors that the life insurance market is ready for a new model.</li><li><strong><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories</a>.</strong></li></ul><p>Shortly after <a href="https://www.ethoslife.com/">Ethos</a> cofounder Lingke Wang graduated from college, he received a call from a life insurance agent who just happened to also be an alumnus of his college. Setting up a life insurance policy wasn't even on Wang's radar at the time. But after four calls and much persistence from the sales rep, Wang finally caved and signed up for a plan. </p><p>Years later, while attending Stanford Business School, Wang recounted the episode to his roommate, Peter Colis. After researching the industry further, the duo realized that the life insurance market was both massive in size (<a href="https://www.iii.org/fact-statistic/facts-statistics-industry-overview">$100+ billion per year</a> paid in premiums) and inefficient. The process to sign up was riddled with paperwork and medical exams, and could take months before a person's plan was finalized. There were also the predatory sales agents - like Wang encountered - that put people into expensive plans they didn't necessarily need. </p><p>In 2014, the two founded <a href="https://www.ovidlife.com/">Ovid</a>, a company that helps consumers get out of expensive, permanent life insurance contracts and receive a cash settlement. Ovid is still in operation today, but it was acquired by another company earlier this year for an undisclosed amount. </p><p>By 2016, Wang and Colis wanted to pursue another avenue of the industry - this time focusing on life insurance coverage itself. The new company was named Ethos and already, just three years in, it's turning heads across Silicon Valley. After its most recent funding round in August, Ethos' valuation was estimated to be <a href="https://www.cnbc.com/2019/08/28/ethos-raises-series-c-funding-round-backed-by-google-goldman-sachs.html">nearly $500 million</a>. </p><p>In a recent interview with Ethos CEO Peter Colis, the thirty-year-old chief exec told Business Insider his company's strategy started with trying to completely rethink the experience of buying life insurance. That would mean being able to offer plans to consumers almost instantly, without medical exams, and without pushy sales agents incentivized by commissions.</p><p>"There's a saying in life insurance that life insurance is sold, not bought. The implication is, 'Oh, it's such a complex product that you need an agent to push it down someone's throat,'" Colis said. "Our thesis from the beginning was that we could build a product so good that it doesn't need to be hard sold."</p><h2>Fast enough to get coverage while waiting line at Starbucks</h2><p>So far, Colis said the company has been able to carry out its vision of a low-friction sign up process. With Ethos, most consumers can get coverage in "ten minutes from their mobile devices while in line at Starbucks," he said. </p><p>Much of the magic behind the experience lies in the data models the Ethos team has built to predict life expectancy, Colis said. Those predictions, in turn, allow the company to quickly recommend a coverage plan for consumers and establish fair pricing. Feeding those models, the chief exec said, is data like health records - which are made available to life insurance companies - and other public records, like how many speeding tickets a person has received.</p><p>Colis said - as suggested by its company name, Ethos - making sure consumers are offered the right plans at the right prices is core to the company's mission. </p><p>"There's an inside rule at the company - if you wouldn't design it, or build it, or sell it to Peter's mom, you don't sell it to our customers," Colis said. </p><p>And in a life insurance market that's plagued with subpar consumer experiences, putting the customer first has been a key to success for Ethos. In fact, Colis said, word of mouth is the company's biggest customer acquisition channel thus far. </p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/lunchclub-pitch-deck-series-a-andreessen-horowitz-led-2019-9" data-analytics-position="2">The founders of Lunchclub, a startup for making better professional connections, used this pitchdeck to raise $4 million in funding</a></em></p><p>To help fund the budding endeavor - the company doesn't give exact revenue figures but says it's "insuring thousands of new families every month" - Ethos recently raised a $60 million Series C round led by Alphabet's investing arm GV. The funding round, which also included big-name investors like Sequoia, Goldman Sachs, and Accel, boosted Ethos' valuation to nearly $500 million. In total, the San Francisco-based startup has now raised more than $100 million. </p><p>As for general fundraising advice, Colis said he's found that being totally honest and transparent with would-be investors is the best approach, even if that means sharing your businesses' "warts." </p><p>"It shouldn't be a sales process. You should be honest about the pros and the cons of the business and then they'll make their own decision," Colis said. "If you're trying to spin them, they're going to see through it and then you're going to lose trust. So just focus on being super transparent like, 'Hey, here's the beauty and here are the warts. How excited are you about it?' If it's a compelling business, there's a lot of venture capitalists, one of them is going to get really excited." </p><p><strong>Here's the pitch deck that helped life insurance startup Ethos raise its recent $60 million Series C funding round (certain, sensitive numbers have been removed from the deck for business reasons): </strong></p>

Ethos wants to make signing up for life insurance a pain-free process. Here's the pitch deck that convinced Alphabet's GV investing arm that it's worth $500 million.

<p class="source"><span>Getty / Scott Olson </span></p><p class="caption">Baupost Group founder Seth Klarman has not changed his belief that market does not accurately reflect the value of investments.</p><ul class="summary-list"><li>Billionaire Seth Klarman's investing philosophy has been in something of a rut for years.</li><li>But comparing his recent writings to investors to his nearly 30-year-old book show that he hasn't changed the way he does things - and value might be making a return as the markets tumble due to coronavirus fears.</li><li>Klarman has doubled down on his belief that the market does not reflect the true value of an investment because it's based on the actions of others, not the underlying fundamentals. </li><li>In his letter to investors at the beginning of this year, he said that "short-term market gyrations matter little unless one wishes to - or is forced to - transact."</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul><p>Value investing appears to be slowly returning to favor for hedge fund managers, as Seth Klarman has predicted all along.</p><p>One of the world's most famous value investors has stuck with his strategy, despite the markets' years-long upward march and momentum managers making big returns thanks to bets on <a href="https://www.businessinsider.com/hedge-funds-crowd-into-the-same-trades-and-stocks-like-apple-amazon-2020-1?IR=T">high-flying tech names like Apple and Amazon</a>.</p><p>Now, as fears of the coronavirus have whipped the markets in the last couple of weeks, Morgan Stanley's prime brokerage desk noted that hedge fund clients sold out of growth stocks and bought into value options, <a href="https://www.bloomberg.com/news/articles/2020-02-25/hedge-funds-ramped-up-leverage-in-stocks-just-before-market-rout">Bloomberg reported</a>. </p><p>Klarman, the billionaire founder of Baupost Group, is not pushed to buy or sell based on market moves though, as outlined in his nearly 30-year-old book "Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investors" and, more recently, in his annual letter sent to clients in January.</p><p>Trying to time people and markets is irrational, value investors believe, and nearly impossible, according to Craig Bergstrom, the chief investment officer of fund-of-funds Corbin Capital.</p><p>"Timing factors is incredibly difficult," Bergstrom said. </p><p>Klarman's recent letter to his investors re-ups some of the tenets he laid out in the book - and doesn't budge on his original processes or beliefs. Put simply, the value investing approach means picking stocks that most of the market is undervaluing, with the belief that their price will rise once everyone catches on to their real value. </p><p>"Sometimes, the market tells you one story, even as the performance of the underlying businesses tells you another. This is the case with many 'value equities' today, which have been significantly underperforming the market even as operating cash flows are strong," he wrote to investors. </p><p>Nearly 30 years ago, he wrote in his book that value investors need to have "unusually strict discipline" when "speculators" that trade on the market instead of fundamentals make money. </p><p>"High levels of greed sometimes cause new-era thinking to be introduced by market participants to justify buying or holding overvalued securities. Reasons are given as to why this time is different from anything that came before," he wrote in the book.</p><p>Baupost declined to comment further. </p><p>That sort of discipline has faced a huge test since the financial crisis more than 10 years ago - after stocks bottomed out, the broad market rise made it hard to find unloved names. Growth investors, as the name might suggest, look for companies poised to grow rapidly, and that's been rewarded by meteoric gains like those seen in the FAANG stocks. </p><p>Cliff Asness, the billionaire founder of AQR and legendary momentum trader, even posted a trolling blog on the hedge fund's site on Feb. 27, styled off of Abraham Lincoln's Gettysburg Address. </p><p>"The world will little note, nor long remember what we say here, but it can never forget the Tesla [value investors] shorted here," reads Asness' post, titled "<a href="https://www.aqr.com/Insights/Perspectives/The-Valuesburg-Address">The Valuesberg Address</a>."</p><p>Baupost returned roughly the same amount as the average hedge fund in 2019 and barely broke even in 2018, while other value investors have fared worse.</p><p>Mangrove Partners meanwhile dropped 9.4% in 2019, according to the firm's annual letter to investors, which blamed the firm's "near complete lack of exposure to growth stocks."</p><p>"We have always been more comfortable owning value stocks because they are typically less exposed to rapid technological change and obsolescence and also have greater valuation support based on near-term cash flows. While this strategy has delivered good returns for investors over long periods, it has also gone through extended periods of underperformance, including the last ten years," the Mangrove Partners letter said. </p><p>Klarman's own letter reflecting on 2019 performance noted that the Russell Value Index has returned half of what the Russell Growth Index has annually since 2007. And Stephen Mandel's Lone Pine wrote last year that some companies that once looked like value investments <a href="https://www.businessinsider.com/lone-pine-just-told-investors-that-its-sticking-to-growth-stocks-2019-11">may actually just be outdated</a> and never recover. </p><p>In comparing value investing to other styles, Klarman's book makes three distinctions: value investors don't believe the market reflects the value of a company; market changes don't really matter in the short term; and sticking to your guns is key to making the value strategy work. </p><p>"Fortunately for Baupost, investing is not a sprint but a marathon. Over the long run, major mispricings are eventually corrected - the share price and value of a business tend to converge - because short-term illusions are pierced and enduring characteristics become more apparent," the letter from earlier this year stated.</p><p>To be sure, some see cracks of light appearing at the end of the tunnel for Klarman and his disciples who have stuck with it through the stubborn bull market.</p><p>The billionaire founder of Maverick Capital, Lee Ainslie, told investors in his letter to start the year that he believes the value "drawdown" reached rock bottom last year, and will come back in fashion as the economy turns.</p><p>Though if there is a huge pullback on momentum trades and a surge in value stocks, which happened for <a href="https://www.businessinsider.com/hedge-funds-whacked-in-momentum-shift-morgan-stanley-warns-more-ahead-2019-9">a quick week-long period last September</a> before reverting back, Klarman won't be buying based on "short-term market gyrations" - a view he has stuck by since 1991 and reiterated in 2020.</p><p>"Value investing by its very nature is contrarian. Out-of-favor securities may be undervalued; popular securities almost never are. What the herd is buying is, by definition, in favor. Securities in favor have already been bid up in price on the basis of optimistic expectations and are unlikely to represent good value that has been overlooked," he wrote toward the end of his book. </p>            <h3>NOW WATCH: <a href="https://www.businessinsider.com/fighting-nhl-hockey-violence-sports-code-referee-2017-2">Why fighting is allowed in pro hockey - and why the NHL has no plans to ban it</a></h3>

Market volatility has returned and so could faith in the value investing ethos embraced by billionaire Seth Klarman. His legendary, out-of-print book explains why he never listens to the market either way.

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Starbucks' Ethos bottled water comes from a drought-ridden county in California.</p><p>"The bottling plant that Starbucks uses for its Ethos customers in the western United States is located in Merced, California, which is currently ranked in the 'exceptional drought' category by the US Drought Monitor," <a href="http://www.motherjones.com/environment/2015/04/starbucks-making-bank-californias-disappearing-water">writes Anna Lenzer at Mother Jones</a>. "Its residents face steep water cuts in their homes, and surface water for the region's many farms is drying up."</p><p>The company donates 5 cents from every $1.95 bottle of Ethos to help children get clean drinking water in countries including Tanzania, Indonesia, and Colombia. Celebrities like Matt Damon have endorsed the brand for Starbucks.</p><p>Starbucks gets the water for free, according to<a href="http://www.motherjones.com/environment/2015/04/starbucks-making-bank-californias-disappearing-water"> Mother Jones</a>.</p><p>Lenzer estimates that Starbucks has sold nearly 250 million bottles of the water. </p><p>A Starbucks' spokesperson told Mother Jones that the company uses "<span>a private spring source that is not used for municipal water for any communities."</span></p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></p><p>But a geologist tells Mother Jones that sometimes these private water sources drain the community supply by capturing the water before it reaches people downstream who might use it.</p><p>Many people are criticizing Starbucks on social media and calling for the brand to move its water plant to another location.</p><p>A separate report <a href="http://www.motherjones.com/environment/2015/04/starbucks-making-bank-californias-disappearing-water">from Mother Jones</a> notes that many popular bottled water brands come from California, <a href="http://www.businessinsider.com/nestle-is-bottling-water-from-california-2015-4">including Nestle's Arrowhead and Pure Life brands</a>.</p><p>There are currently no laws on the books in California to regulate how much water can be taken from underground aquifers (a.k.a. "groundwater"). The only laws that exist now govern surface water, the kind in rivers and lakes. New regulations were recently <a href="http://news.nationalgeographic.com/news/2014/09/140917-california-groundwater-law-drought-central-valley-environment-science/">introduced for this exact purpose, but they won't kick in for serveral years</a>.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/starbucks-dunkin-mcdonalds-coffee-value-2015-2">Starbucks, Dunkin' or McDonald's - which coffee is the best value?</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="BpeWg0cToCw0xlY6Dbek58uZvwpjeTLe" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

You Searched For "ethos" and got 11 results

MG Motor India plans to dilute majority stakes to local partners

PTI

US-based life insurance provider Ethos to set up its office in Bengaluru and hire 150 people in India

Vaamanaa Sethi

Parenting in the ‘Cyber World’

BI India Bureau

Founder and CIO of Hungary's most-funded tech startup uses ethos of self-reliance and strong partnerships to drive innovation

Hazel Davis

ONLY's new anthem featuring Ananya Pandey is all about celebrating the ethos of individuality and women empowerment

BI India Partner

Cristiano Ronaldo's former teammates are rallying against him, saying he broke Juventus' ethos of 'equality, unity, and humility'

Sam Cooper

How 'owning the libs' became the ethos of the right

Joe Perticone

Dropbox needs to find a new 'ethos' and more business customers for an IPO home run

Becky Peterson

Ethos wants to make signing up for life insurance a pain-free process. Here's the pitch deck that convinced Alphabet's GV investing arm that it's worth $500 million.

Nick Bastone

Market volatility has returned and so could faith in the value investing ethos embraced by billionaire Seth Klarman. His legendary, out-of-print book explains why he never listens to the market either way.

Bradley Saacks

People are furious about where Starbucks' Ethos bottled water comes from

Ashley Lutz

Popular Keywords

Buying Guides