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<ul class="summary-list"><li>The Onion's bid for Infowars came together with help from Sandy Hook families.</li><li>The deal is now on hold after a bankruptcy judge expressed concerns about the auction.</li></ul>On the surface, <a target="_blank" class="" href="https://www.businessinsider.com/the-onion-buys-alex-joness-infowars-2024-11">The Onion's announcement that it had purchased Alex Jones's Infowars</a> at auction on Thursday may have sounded like a bizarre joke.But behind the scenes, the bid came together through strategic coordination — with the support of Sandy Hook families and a nonprofit that is backed by Michael Bloomberg.Ben Collins, CEO of The Onion, <a target="_blank" href="https://www.yahoo.com/news/ceo-onion-parent-company-speaks-210055221.html">told Yahoo</a> that he knew some of the lawyers representing Sandy Hook families from his former days as a disinformation reporter at NBC. He said they were key to the deal."The families decided they would effectively join our bid," Collins told Yahoo, "to try to get this over the finish line because by the end of the day, it was us or Alex Jones."Still, the purchase apparently isn't set in stone, if Jones — who'd hoped one of his allies would purchase the site — has anything to say about it.The designated backup bidder, First United American Companies — which operates Jones's online supplement shop — requested a hearing in Texas bankruptcy court to "address the apparent defects in the sale process, including changing the procedures, lack of transparency, and inaccurate disclosures to interested bidders," according to a court filing.At a hearing Thursday, Judge Christopher Lopez of the Southern District of Texas's US Bankruptcy Court, expressed concern that offers weren't shared between rival bidders, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-11-14/angry-judge-questions-transparency-of-onion-bid-for-infowars?embedded-checkout=true&amp;sref=MTy2GeXk">Bloomberg News reported</a>. Another hearing is set for next week."Nobody should feel comfortable with the results of the auction," Lopez said.The Onion, a lawyer for First United, and lawyers for the trustee responsible for liquidating Jones's assets didn't respond to Business Insider's requests for comment."The sale is currently underway, pending standard processes," Collins <a target="_blank" class="" href="https://variety.com/2024/digital/news/judge-onion-infowars-hearing-review-auction-1236211183/">told Variety</a> Friday in a statement.In addition to support from the Sandy Hook families, The Onion is also working with Everytown for Gun Safety — an anti-gun-violence nonprofit founded in the wake of the Sandy Hook massacre. Everytown, which is backed by <a target="_blank" class="" href="https://www.businessinsider.com/mike-bloomberg-spend-more-than-50-million-on-gun-control-group-2014-4">backed by billionaire Michael Bloomberg</a>, is supporting the reimagined Infowars in a multi-year advertising deal."They've long loved The Onion," Collins told Yahoo, nodding to <a target="_blank" class="" href="https://theonion.com/no-way-to-prevent-this-says-only-nation-where-this-r-1819576527/">a headline</a> the outlet publishes verbatim every time there's a mass shooting.And while many might consider The Onion, Everytown, and Infowars "strange bedfellows," Everytown President John Feinblatt told ABC News there's actually "perfect synergy" given how The Onion has advocated against gun violence over the years, citing its unique ability to "cut through misinformation" using humor.Collins told ABC News that The Onion would own everything from Jones's broadcasting equipment to his supplement business.On the content front, a new website would exist separately from The Onion. "We'll start building a whole new world there," Collins told ABC News, adding it would parody "alt-media people who've gone unmocked for too long."Neither Everytown nor Bloomberg Philanthropies immediately responded to requests for comment from Business Insider.Variety also reported that at the Thursday hearing, lawyers for Elon Musk's X appeared to reserve ownership of Jones's personal X account.X's counsel did not immediately respond to a request for comment from Business Insider.The auction <a target="_blank" class="" href="https://www.businessinsider.com/alex-jones-infowars-free-speech-systems-auction-sandy-hook-bankruptcy-2024-9">is underway</a> because Jones was ordered to pay Sandy Hook families a collective $1.5 billion after losing a defamation suit for repeatedly referring to the deadly school shooting as a hoax.Jones and Infowars' parent company Free Speech Systems filed for bankruptcy in 2022, and its assets are being liquidated.

Behind The Onion's bid for Alex Jones's Infowars — which is now on hold as a judge reviews it

<ul class="summary-list"><li>Democrats hope blue states can be the party's redoubt against Trump's second term.</li><li>Democrats will be in the minority in both houses of Congress in January 2025.</li></ul>With Vice President Kamala Harris' presidential election loss, President Joe Biden leaving the White House in January, and Democrats looking ahead to life in a Senate chamber that they'll no longer control, the new year will bring a new reality: the party's power in Washington, DC will be diminished.A newly empowered Donald Trump, meanwhile, is aiming to reshape the federal government to a degree that he failed to achieve in his first term. He's assembling <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-white-house-staff-cabinet-picks-list-2024-11">an array of loyalists</a> to help further his goals on everything from immigration to foreign policy.Early in Trump's first presidency, protests against his administration were common in Washington and other cities. And as Trump's first term progressed, Democrats remained laser-focused on opposing him. The party harnessed that energy to retake the House in 2018, win back the presidency in 2020, and flip the Senate in 2021.But this time, the Democratic Party appears to be coalescing around a revised strategy.Democratic officials and activists are <a target="_blank" class="" href="https://www.nytimes.com/2024/11/16/us/politics/democrats-anti-trump-battle-plan.html">hoping blue states</a> can be the center of opposition to the president-elect, The New York Times reported. From abortion rights to paid leave, the party sees its Democratic strongholds as bulwarks against Trump, especially with <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-supreme-court-conservatives-election-2024-11">the US Supreme Court</a> dominated by conservative jurists.Democrats are also building up a legal operation to challenge the new administration, according to the Times. The newspaper reported that advocacy groups are rallying hundreds of attorneys to fight Trump's agenda from the start of the president-elect's second term.Skye Perryman, the CEO of Democracy Forward, a nonprofit organization created after Trump's win in 2016, told the Times that challenges to the president-elect will be different in his second term."Resistance this time is a lot more about collective power building," she said. "It's using the law and using litigation."Democrats are also already looking ahead to the 2028 election.While Democrats are <a target="_blank" class="" href="https://www.businessinsider.com/harris-trump-blue-wall-democrats-suburban-voters-unions-2024-11">still smarting over Harris' loss</a> — and trying to assess how their party can reverse electoral gains that Trump made with working-class voters — many of the party's crop of governors have emerged as potential 2028 contenders.Democrats occupy 23 of the nation's 50 governorships, which will remain unchanged at the beginning of the year. Some of them — like Govs. <a target="_blank" class="" href="https://www.businessinsider.com/gavin-newsom-california-gubernatorial-recall-election-landslide-win-2021-9">Gavin Newsom</a> of California, JB Pritzker of Illinois, and Gretchen Whitmer of Michigan — have long been considered White House aspirants.For Democrats, the focus on states will give many of these leaders a platform as Trump aims to enact a conservative agenda in a nation that remains politically divided. Harris easily won California and Illinois in the general election, but she lost Michigan — a state that for years had been <a target="_blank" href="https://www.businessinsider.com/harris-trump-blue-wall-economic-message-unions-michigan-pennsylvania-wisconsin-2024-10">part of the party's vaunted blue wall</a> — by about 1.4 points.After the election, Newsom called a special session, which will begin on December 2 in Sacramento, to boost the state's legal resources to challenge the incoming administration on issues like abortion, civil rights, climate regulations, and immigration.Pritzker <a target="_blank" class="" href="https://chicago.suntimes.com/elections/2024/11/07/pritzker-donald-trump-second-term-defend-illinois-remarks">pledged to work</a> with the Trump administration but also called himself a "warrior" for his state."To anyone who intends to come take away the freedom, opportunity, and dignity of Illinoisans, I would remind you that a happy warrior is still a warrior," the governor, now in his second term, <a target="_blank" class="" href="https://x.com/GovPritzker/status/1854686495975551159">wrote on X</a>. "You come for my people — you come through me."Meanwhile, Whitmer reiterated that she worked with Trump during her first term and would find a way to do so again."We'll figure out how to work with a Trump administration into this last two years of my term," she told reporters after the election.

Democrats are hoping blue states can hold the line in their battle against Trump's second-term agenda

<ul class="summary-list"><li>A major Russian bank launched a 2% mortgage rate that is available only in occupied Ukraine.</li><li>The rate is rock-bottom, and fixed for 30 years. Russia's main interest rate is 21%.</li></ul>Russia is debuting a rock-bottom mortgage rate with a catch: it's only available if you live in a warzone.In a <a target="_blank" class="" href="https://www.vtb.ru/about/press/news/?id=204159">press release</a> on Wednesday, Russia's VTB Bank announced a mortgage with a rate of 2%, fixed for as long as 30 years.The rate applies only to the regions of Luhansk and Donetsk, which are mostly under Russian occupation.The 2% mortgage is an economic anomaly — far cheaper than other borrowing.The main interest rate there is 21%, with conventional mortgages around that mark as well. Inflation runs about 8%.VTB said the borrowers could take loans of up to 6 million rubles, or roughly $61,000. Average salaries in Russia are around $10,000 a year.VTB is mostly owned by the Russian state, and while it didn't give a reason for the low rate, it aligns with other Russian efforts to cement its hold on occupied land. It did not respond to a request for comment.Russia claimed the two territories as its own in a September 2022 annexation, even as some parts of them remained in Ukraine's hands or on the front lines.The US, NATO, and Ukraine's allies have long called on Russia to withdraw from the territory and return it to Ukraine, which continues to fight for it.That return gets harder if more and more Russians move there.Agathe Demarais, a senior policy fellow on geoeconomics at the European Council on Foreign Relations, saw the low rate as a clear incentive for Russians in the area to stay there."The aim is to consolidate Russia's long-term presence — through 30-year loans, which is highly unusual in Russia — in the occupied Ukrainian regions," she told Business Insider.Other moves by Russian to tighten its grip include implementing a Russian curriculum in schools, including a pro-Russian view of history. It also made the ruble the official currency, supplanting the Ukrainian hryvnia.Ukraine <a target="_blank" class="" href="https://sprotyv.mod.gov.ua/en/putin-plans-to-populate-the-temporarily-occupied-territories-of-ukraine-with-trustworthy-people/">says</a> Russia has offered financial incentives, up to 5 million rubles or $51,000, to Russians who move there.<h2 id="01b6d241-170d-4650-8c0c-8039c44dafce">A topsy-turvy housing market</h2>Russia <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-07-01/russia-ends-housing-mortgage-subsidy-that-stoked-a-property-boom">has subsidized mortgages by offering attractive rates before</a>, though to a lesser extent.It did so near the beginning of the COVID-19 pandemic and then to counter the sanctions piled on it by Western nations after the 2022 invasion, capping them at 8%.However, house prices soared in response and Russia <a target="_blank" class="" href="https://www.themoscowtimes.com/2024/10/18/russias-real-estate-market-rocked-by-the-end-of-generous-mortgage-subsidies-a86738">pulled the broad subsidy in July</a>.The new rate for the occupied regions offers Russians far better terms than even the earlier subsidy — but with the significant catch of living close to the war.<h2 id="4fd3d16d-28af-4c7e-aa32-4bc88a198c7b">Fierce fighting</h2>Russian troops are trying to capture the remainder of Luhansk and Donetsk, which Ukraine still holds.Those territories had long been relatively static, though host to fierce fighting.But in recent days, reports accumulated that Russia was taking more ground there. <a target="_blank" class="" href="https://www.reuters.com/world/europe/russia-took-196-square-km-ukraine-last-week-agentstvo-media-says-2024-10-29/">Reuters reported</a> that the advance was its fastest in a year.

A new way for Russia to cement its hold on Ukraine: dirt-cheap mortgages

The <keyword id="21627536" type="General" weightage="100" keywordseo="gold-loan-market" source="keywords">gold loan market</keyword> in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> is on the cusp of substantial growth, driven by rising per-gram gold rates and increasing customer demand. Currently, the market is predominantly controlled by the <keyword id="21485305" type="General" weightage="20" keywordseo="unorganized-sector" source="keywords">unorganized sector</keyword>, which holds a 63 % share, while <keyword id="22789155" type="General" weightage="20" keywordseo="organized-players" source="keywords">organized players</keyword>, including banks and Non-Banking Financial Companies (<keyword id="19938300" type="General" weightage="20" keywordseo="NBFCs" source="keywords">NBFCs</keyword>), account for the remaining 37 %, according to a recent <keyword id="20055667" type="General" weightage="20" keywordseo="PwC" source="keywords" meta.keywordsubtype="org" meta.entityname="PwC" meta.hostid="83" meta.entityid="PwC">PwC</keyword> report. Indian households are estimated to possess approximately 25,000 tonnes of gold, valued at around Rs 126 lakh crore. Despite this vast wealth, the existing gold loan market through organized channels is valued at just Rs 7.1 lakh crore. With the market penetration of gold loans in India currently at only 5.6%, there is considerable untapped potential within <keyword id="22902023" type="General" weightage="20" keywordseo="household-gold-holdings" source="keywords">household gold holdings</keyword>. Although not all gold is available for pledging--due to factors such as religious significance, emotional value, or lack of financial need--there remains substantial opportunity for growth in the gold loan sector. The gold loan market in India has historically been dominated by the unorganized sector. However, in recent years, organised players, particularly NBFCs, have begun to gain market share. Banks, too, have been making inroads, especially through retail gold loans and a continued focus on agricultural gold loans. This shift is expected to continue as organised players leverage their formal lending structures, transparency, and customer trust to capture a larger share of the market. Shaji Varghese, CEO, Muthoot FinCorp Limited, "Gold loan assets have been growing steadily and the potential to grow further is high since a major part of the country's gold loan market is still in the unorganized sector. <keyword id="19910265" type="General" weightage="20" keywordseo="gold-prices" source="keywords">Gold prices</keyword> have been rising over the years. There is also a paradigm shift on how buying gold is perceived today. Traditionally gold was purchased for historical, cultural and societal reasons and while that continues, people have started buying gold as an investment and also as a convenient option to raise funds for financial requirements." India remains one of the world's largest consumers of gold, with total demand reaching 747 tonnes in 2023. However, this represented a 3% decrease compared to the previous year, primarily due to the surge in gold prices, which dampened demand for gold jewellery. The price of gold in India increased from Rs 55,375 to Rs 66,532 per 10 grams (22 carats) between November 2023 and May 2024, prompting a shift towards lightweight or lower-carat jewellery items. Globally, the demand for gold grew by 3 % in 2023, with China emerging as the largest market. The global market's expansion presents opportunities for Indian gold loan financiers to explore new avenues for growth beyond domestic borders. Gold's relationship with the US dollar is a key factor influencing gold prices in India. A weakening rupee often leads to an increase in gold prices, as gold is priced in USD internationally. This dynamic drives higher imports and increases the cost of gold in rupees, further fuelling demand as investors seek a safe haven against currency fluctuations. V.P. Nandakumar, Managing Director and Chief Executive Officer, Manappuram Finance Ltd, "Of late, the sharp increase in gold prices has imparted some stability to the gold loan book of most players and we do not expect gold prices to come down due to geo-political factors, the accumulation of gold by central banks as well as the lasting allure of the yellow metal." The securitisation of gold through various financial instruments offers new avenues for gold loan players to diversify their offerings. By using gold-based security as collateral, established players can introduce new loan products that leverage the intrinsic value of physical gold.

India's gold loan market set for rapid growth amid rising prices; unorganized sector holds 63% share, notes recent PwC report

<ul class="summary-list"><li>Some US embassies in Europe are skipping traditional election-night viewing parties.</li><li>The presidential election is very close, with prediction models seeing it as a coin toss.</li></ul>US embassies in major European capitals are largely opting out of the traditional <a target="_blank" class="" href="https://www.businessinsider.com/election-night-prep-drinks-specials-cannabis-bipartisan-parties-2024-11">election-night watch parties</a>, partly to avoid an awkward repeat of scenes from 2016, when diplomats had to mask their surprise in front of dozens of guests as the results came in.Traditionally, these events were when journalists, foreign diplomats, and other high-ranking officials would come together to see how the US voted.<a target="_blank" class="" href="https://www.politico.eu/article/donald-trump-us-election-eu-embassies-hillary-clinton/">Politico was the first to report</a> that embassies in London, Paris, Brussels, and Berlin are forgoing the usual election festivities as <a target="_blank" class="" href="https://www.businessinsider.com/harris-trump-momentum-presidential-race-debate-polls-2024-9">Vice President Kamala Harris faces off against former President Donald Trump</a> in what is expected to be <a target="_blank" class="" href="https://www.businessinsider.com/election-civil-unrest-risk-kamala-harris-donald-trump-2024-11">a very close contest.</a>Prediction models have characterized it as <a target="_blank" class="" href="https://www.businessinsider.com/election-preview-consumer-outlook-how-trump-harris-housing-taxes-2024-11">a coin-toss election.</a>Two elections ago, Samantha Power, the US Ambassador to the United Nations at the time, hosted a viewing party with a group of powerful women, including former Secretary of State Madeleine Albright, feminist icon Gloria Steinem, and female ambassadors to the UN.The party was documented in a 2017 HBO documentary, "The Final Year," and showed guests becoming increasingly tense and emotional as it became clear that <a target="_blank" class="" href="https://www.businessinsider.com/category/hillary-clinton">Hillary Clinton</a> would not become the first female US president.Similarly, Politico spoke to then-Ambassador Anthony Gardner, who hosted a 2016 viewing party at the US Embassy in Brussels. The outlet reported that as it became clear that <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-wins-election-results-2016-11">Trump was set to win</a>, the mood turned, with one woman weeping quietly.A senior diplomat in Europe, who was not named, told Politico that the 2016 embassy events had been "calamitous."They added, "I don't think there was appetite to watch another Trump victory."Though Brussels, Berlin, London, and Paris won't be hosting events, Rome will.The <a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-donald-trump-swing-states-sun-belt-polls-2024-11">race for the White House is tight</a>, with polling showing that both candidates are virtually tied in the swing states needed to win.There's another, more practical reason some embassies may be forgoing a traditional viewing party.Simply put, the outcome may not be clear on <a target="_blank" class="" href="https://www.businessinsider.com/us-election-forecast-most-accurate-economist-predicts-outcome-economic-impact-2024-10">election night</a> — it could drag on for days or possibly weeks.<a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-donald-trump-swing-state-polls-photo-finish-2024-11">Knife-edge races</a> in battleground states could mean that it takes longer to call the winner, and really narrow victories could result in recounts.The US Embassy in London said as much.A spokesperson told Politico that while it "appreciates the long-standing energy and excitement around US presidential elections which have been carried out over nearly 250 years of democracy," it added that "election day does not end on election night."The spokesperson continued, "Time may be required to count votes and let the electoral process work."

US embassies are holding off on election watch-night parties, fearing they could get awkward

<ul class="summary-list"><li>Tesla's robotaxi will almost certainly face safety and regulatory questions before it comes to market.</li><li>Tesla's Autopilot has faced scrutiny, with recalls and safety concerns from regulators.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/tesla">Tesla</a> has given its fans and investors what they have long waited for — <a target="_blank" class="" href="https://www.businessinsider.com/tesla-robotaxi-event-cybercab-elon-musk-2024-10">the robotaxi</a>.CEO <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">Elon Musk</a> went heavy on hype and light on key details, including the cars' safety and regulatory considerations."You'll be able to take a ride in the <a target="_blank" class="" href="https://www.businessinsider.com/tesla-robotaxi-analyst-predictions-uber-lyft-waymo-competition-2024-10">Cybercab</a>," Elon Musk told a crowd of Tesla enthusiasts at the "We, Robot" event on Thursday evening."There's no steering wheel or pedals. So I hope this goes well. We'll find out," he laughed.While Musk's autonomous cars may be ready to drive around <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-robotaxi-event-warner-bros-discovery-studio-report-2024-9">Warner Bros. Discovery's movie studio</a> in Burbank, California, it will take a while before they can roam the rest of the country.<div type="image" title="Tesla Autopilot" height="5504" width="8256" msid="114153959" hostid="261" sizebytes="1555790"></div><h2 id="941df1e9-52dc-4b85-a43c-164a6b6de9aa">Regulatory hurdles</h2>Tesla faces various regulatory challenges in making its robotaxi network a reality.In California specifically, it will need to acquire a permit to test and operate autonomous vehicles without a driver — something <a target="_blank" href="https://www.dmv.ca.gov/portal/vehicle-industry-services/autonomous-vehicles/autonomous-vehicle-testing-permit-holders/">the company has not yet done</a>.It has a permit to test autonomous vehicles with a driver on public roads in the state. However, while rivals Waymo and Zoox reported driving thousands of miles last year — Tesla didn't report driving any, according to California Department of Motor Vehicles data.Tesla did not respond to a request for comment on this point."It's a problem of their own making," Phil Koopman, a professor at Carnegie Mellon University and an expert in autonomous vehicle safety, told Business Insider.Koopman said automakers applying for driverless permits typically needed to show a high number of miles driven.<div type="image" title="A Waymo autonomous self-driving Jaguar electric vehicle sits parked at an EVgo charging station" height="4860" width="7290" msid="114153961" hostid="261" sizebytes="705462"></div>Plus, to mass-produce and sell a vehicle without a steering wheel or pedals, Tesla will need to get permission from the federal government — a process that could be complex and lengthy with no guarantee of success, he said.Autonomous driving isn't regulators' only concern that could affect Tesla's robotaxi efforts.It took ride-hailing giants like Uber and Lyft years to legally operate in some US states, citing several sticky issues such as protection for traditional taxi companies.Koopman told BI that Tesla would be able to exploit some of the <a target="_blank" class="" href="https://www.businessinsider.com/uber-is-showing-its-trump-card-2015-4">regulatory wins enjoyed by Uber and Lyft</a> in recent years to help expand its ride-hailing service quickly — but warned that the company would also have to go through the same process as Waymo and Cruise to get their driverless cars certified as ride-hailing vehicles.<h2 id="4a2161c1-b252-457b-92f3-157aaf6dd4fe">Cruise and Waymo feel the heat</h2><a target="_blank" class="" href="https://www.businessinsider.com/feds-investigating-tesla-autopilot-recall-after-crashes-kept-happening-2024-4">Tesla has already </a><a target="_blank" href="https://www.businessinsider.com/feds-investigating-tesla-autopilot-recall-after-crashes-kept-happening-2024-4">been subject to significant scrutiny</a> and probes by regulators regarding Autopilot, its partial vehicle automation system.Alphabet's Waymo was <a target="_blank" class="" href="https://www.reuters.com/business/autos-transportation/us-safety-probe-into-waymo-self-driving-vehicles-finds-more-incidents-2024-05-24/">also investigated by the NHTSA</a> earlier this year over reports its robotaxis were potentially violating traffic safety laws and displaying "unexpected behavior."And General Motors' Cruise subsidiary got in hot water with regulators last year after several safety accidents. The company lost its permit to operate in California after <a target="_blank" class="" href="https://www.businessinsider.com/why-cruise-self-driving-robotaxis-were-banned-in-san-francisco-2023-10">a pedestrian was dragged</a> for 20 feet beneath one of its driverless vehicles after it ran her over.Posting on X on Thursday before the launch event, former Cruise CEO Kyle Vogt laid out the challenges that Tesla would face."Autonomy is the fastest and most effective way to eliminate car accidents, and we desperately need this," he wrote."I don't know what we will see tonight. What I know is that it takes a non-trivial amount of work to go from making a car mostly drive without interventions to safe, robust, and legally compliant robotaxi network that meshes well with local communities," he added.

Don't hold your breath waiting for a Tesla robotaxi

<ul class="summary-list"><li>Palmer Luckey told MIT Technology Review he's still "sore" about being ousted from Facebook in 2017.</li><li>But the billionaire VR guru said he doesn't blame Mark Zuckerberg or the modern iteration of Meta.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/who-is-palmer-luckey">Palmer Luckey</a> is still angry about his ousting from Facebook eight years ago — but the billionaire virtual reality guru doesn't blame Meta CEO Mark Zuckerberg.Luckey, 32, told the <a target="_blank" class="" href="https://www.technologyreview.com/2024/10/28/1106265/palmer-luckey-on-the-pentagons-future-of-mixed-reality/?utm_source=the_download&amp;utm_medium=email&amp;utm_campaign=the_download.unpaid.engagement&amp;utm_term=&amp;utm_content=10-28-2024&amp;mc_cid=9b317f742c&amp;mc_eid=114b891668">MIT Technology Review</a> this month that he isn't angry with the social media company's top executive over the events that resulted in <a target="_blank" class="" href="https://l.facebook.com/l.php?u=https%3A%2F%2Ftrib.al%2Fy6htK7t%3Ffbclid%3DIwZXh0bgNhZW0CMTEAAR2I98obVkFRz6LpI1GWM_Viuk6PAA7gS6iFWDeXpLaEaUSw6LEAVt8nHn0_aem_lQuVHjm6BzcthvqN5jxfRQ&amp;h=AT1sc04e3N6dlHTiukwXLkYZazugIblWyFJcDlMvbcW1UiXPeSJ-A2-aEyDHwgh3Icp5amP9_7nmieAvneRnJ_LB5lDdf8YV9HB_xz169L6DnpKpuk6jvzON0k8IdqpAt9yRoQ1xM4gqa3LCw2xvUj0cvA&amp;__tn__=%2CmH-R&amp;c[0]=AT24hTnlOwAxwZunRoeC6yiGlYAggWu8QehjYwVXuOXx4FciimH1CSWYlna5icqgdc9nLyybxIy-Ts33PVR_I4wHoa3ou4QpECoQ1-9sKvLh8U9FBCWYPX6pZBG-7qvBs_nAPOe8oVZy8mYCJOzYusc_6rNnQgGPYG-Tka5A1GfPFLpNr-5u4IV4mlC9Uo2m">Luckey leaving the company</a> three years after he sold <a target="_blank" class="" href="https://www.businessinsider.com/what-is-oculus">Oculus VR</a> to Facebook for $2 billion,"I have a lot more anger for the people who lied in a way that ruined my entire life and that saw my own company ripped out from under me that I'd spent my entire adult life building," he told the outlet."I've got plenty of anger left, but it's not at <a target="_blank" class="" href="https://www.businessinsider.com/meta">Meta</a>, the corporate entity," Luckey added. "It's not at Zuck."A representative for Meta did not immediately respond to Business Insider's request for comment.Luckey, who went on to create <a target="_blank" class="" href="https://www.businessinsider.com/palmer-luckey-slams-ai-restrictions-military-and-weapons-anduril-2024-10">Anduril</a>, a defense tech company that has won several government contracts, left Meta in 2017 after his $10,000 political contribution to a pro-Trump group became public. At the time, Meta — then Facebook — denied that Luckey's departure was related to politics.Luckey remains a <a target="_blank" class="" href="https://www.businessinsider.com/billionaire-palmer-luckey-profile-trump-facebook-meta-ten-takeaways-2024-8">supporter of former President Donald Trump</a> and co-hosted fundraisers for him in both 2020 and 2024.Much of his remaining ire, <a target="_blank" class="" href="https://www.businessinsider.com/billionaire-defense-tech-founder-palmer-luckey-private-collection-military-vehicles-2024-5">Luckey</a> told the outlet, is reserved for less well-known people involved in the situation, such as public relations agents, reporters, and lawyers.Luckey noted that <a target="_blank" class="" href="https://www.businessinsider.com/palmer-luckey-comments-facebook-firing-mark-zuckerberg-2024-8">he is still mad about the steps Facebook</a> took to try to keep him from sharing his version of events at the time, saying he wrote some statements but never published them because of threats from the company."Anyway," Luckey told MIT. "I'm still sore about it eight years later."In an August profile written by <a target="_blank" class="" href="https://www.tabletmag.com/feature/american-vulcan-palmer-luckey-anduril">Tablet</a> magazine, Luckey described himself as a "crusader for vengeance" with regard to his ouster."Right now, I gain nothing by correcting the record of things that [Facebook] did wrong eight years ago," he told the outlet. "If it's better for me to bury it, I will."At the same time, Luckey said he doesn't want to throw Zuckerberg under the bus because he wants <a target="_blank" class="" href="https://www.businessinsider.com/palmer-luckey-returns-headset-world-after-facebook-ousting-2024-9">Meta to keep investing in VR</a>.The company has lost tens of billions of dollars on its Reality Labs division, which is responsible for augmented reality, though Zuckerberg has said VR investment is a "<a target="_blank" class="" href="https://www.businessinsider.com/mark-zuckerberg-metaverse-losses-top-40-billion-suddenly-ok-meta-2023-7">long-term bet</a>," BI previously reported, citing earnings.Meanwhile, Zuck told Tablet that he had a "huge amount of respect" for Palmer and said he hoped the two could work together again in the future.Luckey's nearly decade-old resentments <a target="_blank" class="" href="https://www.businessinsider.com/palmer-luckey-mark-zuckerberg-facebook-relationship-2024-10">continued to thaw in recent weeks.</a>At a Pepperdine University interview earlier this month, Luckey said he had recently visited Meta's headquarters for the first time since he left the company to demo the new Orion glasses.He also accepted an apology from Meta CTO <a target="_blank" class="" href="https://www.businessinsider.com/facebook-meta-executive-andrew-boz-bosworth-metaverse-2021-11">Andrew Bosworth</a> over a previous social media argument the two had about his ouster."I am infamously good at holding grudges, but Meta has changed a lot over the past 8 years," Luckey wrote on X earlier this month. "The people responsible for my ouster and internal/external smear campaign aren't even around anymore."

Palmer Luckey says he still holds a grudge over his Meta ousting — but not against Zuck

The ongoing <keyword id="20168812" type="General" weightage="20" keywordseo="sell-off" source="keywords">sell-off</keyword> by <keyword id="19900795" type="General" weightage="20" keywordseo="foreign-investors" source="keywords">foreign investors</keyword> continues to loom large on <keyword id="19991358" type="General" weightage="20" keywordseo="Indian-markets" source="keywords">Indian markets</keyword>. In October so far, <keyword id="19950996" type="General" weightage="100" keywordseo="FIIs" source="keywords">FIIs</keyword> (foreign institutional investors) have already withdrawn Rs 74,732.20 crores. Not for a single day this month have FIIs poured money into <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>. The sell-off started on October 1, when foreign investors withdrew Rs 5,579.35 crore. The highest withdrawal of this month came on October 3. 2024, when FIIs sold Rs 15,243.27 crore worth of assets. Yesterday, i.e. on October 17th, FIIs pulled out Rs 7,421.40 crore from the markets. Experts state that FIIs are continuously putting pressure on Indian stocks, but the situation is expected to improve in the coming weeks with a sharp recovery anticipated. "We remain optimistic as the FII selling may have crossed the half way mark already and as it tones down, the domestic flows will help a recovery. When the recovery happens it will sharp and concentrated, giving long term investors motivation to stay put during the harrowing volatility of a roller coaster market that has repeatedly tested support levels but remains oversold, hence ripe for a bounce sometime in the next few weeks" said Ajay Bagga, Banking and Market Expert to ANI. Between January and October 2024, foreign investors have invested a net of 1,87,298 crore in India. This year, apart from the current sell-off, January, April and May also saw <keyword id="23593694" type="General" weightage="20" keywordseo="investment-outflows" source="keywords">investment outflows</keyword> by FIIs. The intense selloff comes right after September, when foreign investors invested a record Rs 93,538 crore in the Indian markets. June, July and August 2024 had also seen positive inflows from foreign investors of about Rs 41,757 crore, Rs 48,796 crore and Rs 25,493 crore respectively. However, a resilient, strong domestic investor base is keeping Indian markets afloat. <keyword id="21714171" type="General" weightage="20" keywordseo="DIIs" source="keywords">DIIs</keyword> (domestic institutional investors) have been consistent buyers throughout this month, largely balancing the outflows prompted by FIIs. In October so far, DIIs have invested about Rs 68,961.37 crore in the market, with the highest monthly inflow coming in on October 7th. While DIIs invested Rs 13,245.12 crore in Indian markets on that day, foreign investors withdrew Rs 8,293.41 crore. Yesterday i.e. on October 17, 2024, DIIs invested Rs 4,979.83 crore in the markets. At present, experts note that DIIs are flush with cash at the moment, with <keyword id="20052797" type="General" weightage="20" keywordseo="mutual-fund-inflows" source="keywords">mutual fund inflows</keyword> reaching an all-time high of Rs 24,509 crore in September 2024, a record 52.78% jump from the corresponding year ago period, where they stood at Rs 16,042 crore. Generally, keeping around 3-5% of their assets in cash is considered an acceptable practice amongst mutual fund houses. As per reports, mutual funds are currently in possession of Rs 1.86 lakh crore worth of cash, which constitutes 5.03% of their total AUM as of September 2024.

Exodus of foreign investors from Indian markets continues unabated in October. But DIIs are holding the fort steady

<ul class="summary-list"><li>A company accidentally hired a North Korean IT worker for a remote job.</li><li>He stole data and then tried to hold it to ransom after being fired, according to Secureworks.</li></ul>A company accidentally hired a <a target="_blank" class="" href="https://www.businessinsider.com/north-korea-military-officials-helping-russia-ukraine-win-for-kim-2024-10">North Korean</a> remote IT worker, who later stole sensitive company data and attempted to hold it to ransom after being fired, according to an American cybersecurity company.The FBI has previously said that there are <a target="_blank" class="" href="https://www.businessinsider.com/north-korea-thousands-hackers-trying-get-it-jobs-us-says-2022-5">thousands of North Korean IT workers posing as non-North Koreans to get remote jobs in the US,</a> to funnel money back to the North Korean state.However, this extortion strategy seems to mark a shift in their tactics.Secureworks, which shared details of the incident with Business Insider, said its Counter Threat Unit, or CTU, uncovered the activity after the unnamed company, based in either the US, UK, or Australia, received an extortion demand.<a target="_blank" class="" href="https://www.bbc.co.uk/news/articles/ce8vedz4yk7o">According to BBC News,</a> the company hired the technician as a contractor after he had falsified his employment history and personal details.Early into his four-month employment, he used <a target="_blank" class="" href="https://www.businessinsider.com/top-remote-work-tools-productivity-zoom-slack-google-meet-gitlab-2020-10">remote-work tools</a> to infiltrate the company's systems, downloading a large amount of company data, per Secureworks.Secureworks said the worker was later <a target="_blank" class="" href="https://www.businessinsider.com/got-fired-from-job-deserved-it-2024-1">dismissed for poor performance</a> and that, soon after, the company began receiving emails with attachments containing evidence of stolen data.It said the company also received an email demanding a six-figure sum in <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/crypto-cyber-crimes-ransom-payments-record-hacks-ransomware-2023-2024-2">cryptocurrency</a> to not publish it or sell the information online.It is unclear if the ransom was paid. Secureworks said it doesn't comment on individual cases, but added that many companies would be prohibited from paying a ransom due to <a target="_blank" class="" href="https://www.businessinsider.com/kim-jong-un-obsessed-lexus-cars-north-korea-sidestep-sanctions-2023-12">international sanctions </a>on North Korea.Secureworks' CTU said salaries received via North Korean fraudulent IT worker schemes seek to bypass these sanctions to generate revenue for the country.Last year, FBI leaders warned that the money earned in salaries was being <a target="_blank" href="https://www.businessinsider.com/north-korea-workers-remote-work-jobs-us-ballistic-missle-fbi-2023-10">funneled to North Korean weapons programs.</a>This incident, however, was slightly different, said Rafe Pilling, director of threat intelligence at Secureworks' CTU."No longer are they just after a steady paycheck," he told BI in a written statement. "They are looking for higher sums, more quickly, through data theft and extortion, from inside the company defences."Pilling advised organizations to remain vigilant for individuals trying to gain employment under pretenses.He said they should seek to run identity checks and do <a target="_blank" href="https://www.businessinsider.com/people-looking-for-jobs-enduring-many-rounds-of-interviews-2024-7">in-person or video interviews</a>, as well as be wary of suspicious requests, such as attempts to reroute corporate IT equipment sent to the contractor's purported home address.Last month, Charles Carmakal, chief technology officer of cybersecurity firm Mandiant Consulting, <a target="_blank" class="" href="https://www.linkedin.com/posts/charlescarmakal_mandiant-part-of-google-cloud-just-published-activity-7244027392610955267-qw1o/?utm_source=share&amp;utm_medium=member_desktop">said</a> in a LinkedIn post that North Korean IT workers were increasingly infiltrating the US economy, with dozens of <a target="_blank" class="" href="https://www.businessinsider.com/fortune-100-c-suite-executives-getting-older-trend-study-2023-12">Fortune 100 organizations</a> having been targeted.Carmakal said that Mandiant investigations had found that North Korea was using a team of US-based facilitators that received company laptops from US employers, and would then often run laptop farms from their homes.He said these facilitators sometimes deployed Remote Monitoring and Management software on the laptops, allowing North Korean IT workers to connect to the system remotely.In May, prosecutors <a target="_blank" class="" href="https://www.justice.gov/usao-dc/pr/charges-and-seizures-brought-fraud-scheme-aimed-denying-revenue-workers-associated-north">accused</a> an <a target="_blank" class="" href="https://www.businessinsider.com/woman-helped-north-korea-find-remote-jobs-in-us-prosecutors-2024-5">Arizona woman of aiding North Koreans to secure US remote-work jobs</a>, which included positions at Fortune 500 companies.Prosecutors said in <a target="_blank" class="" href="https://dd80b675424c132b90b3-e48385e382d2e5d17821a5e1d8e4c86b.ssl.cf1.rackcdn.com/external/dcdc-24220-indictment-may82024-1.pdf">an April indictment</a> that the workers used IP addresses to make it appear that they were working from her house and within the US.A Ukrainian man was also accused of operating "laptop farms" for North Korean workers.According to Jake Moore, a global cybersecurity advisor for cybersecurity software firm ESET, "Insider threats are still a major concern for businesses but especially for organizations that are targeted with nation-state threats."He told Business Insider that <a target="_blank" class="" href="https://www.businessinsider.com/job-application-background-checks-employment-history-drug-screening-2023-6">thorough vetting and background checks</a> are often the "only fallback" to prevent rogue access to sensitive company data. He added that these processes can be time-consuming but ultimately worthwhile."Giving away the keys to the castle from within has always been high risk but with prevailing international threats, new measures in improved vetting employees must be taken," he said.

A company's remote-working hire turned out to be in North Korea. He tried to hold it to ransom.

<ul class="summary-list"><li>Existing home sales dropped 1% last month to the lowest level since October 2010.</li><li>Homebuyers stayed on the sideline in anticipation of lower mortgage rates.</li></ul>US existing-home sales dropped to a nearly 14-year low in September as prospective homebuyers held back in anticipation of lower mortgage rates.Last month's sales <a target="_blank" href="https://www.nar.realtor/newsroom/existing-home-sales-slid-1-0-in-september">dropped 1%</a> to an annual rate of 3.84 million, the National Association of Realtors disclosed on Wednesday. That marked the lowest level since October 2010, and came in below projected estimates of 3.88 million, according to economists surveyed by <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-10-23/us-previously-owned-home-sales-fall-to-an-almost-14-year-low?srnd=homepage-americas">Bloomberg</a>.The decline to a multi-year low shows that buyers have opted to wait for home borrowing costs to descend, as typically happens when the Federal Reserve eases interest rates.It was widely assumed that US bond yields — and as well as mortgage rates, which are correlated with them — would fall after the Fed's rate cuts. Instead the opposite has happened. Both are up sharply since Sept. 18.According to <a target="_blank" href="https://www.mortgagenewsdaily.com/mortgage-rates/30-year-fixed">Mortgage News Daily</a>, the average 30-year fixed mortgage rate has climbed 70 basis points since then, to 6.85% from 6.15%.This is because stronger-than-expected economic data has forced investors to adjust their outlooks for how much the Fed is going to cut rates going forward. Since monetary easing generally leads to lower yields, the mounting prospect that the Fed will pump the brakes on further cuts is instead pushing yields higher.As for those prospective homebuyers are holding out for lower mortgage rates — if this trend continues, they will be waiting for a while.On a broader basis, elevated mortgage rates have been among several factors squeezing housing affordability. The high-rate environment has meant fewer sellers, draining home inventory and keeping prices high.According to <a target="_blank" href="https://www.redfin.com/news/home-price-index-september-2024/">Redfin</a>, home prices grew 0.5% month-to-month in September, marking the fastest pace since April."There are around 20% fewer homes on the market today than there were five years ago, mainly because so many homeowners locked in a low mortgage rate during the pandemic," Redfin senior economist <a target="_blank" href="https://www.redfin.com/news/author/sheharyarbokhari/">Sheharyar Bokhari</a> said in the report. "With mortgage rates back above 6.5% this month — and unlikely to drop below 6% this year —home prices will likely continue their consistent climb until more inventory comes onto the market in the spring."

Existing home sales hit a 14-year low as homebuyers hold out for lower rates that may not come

<ul class="summary-list"><li>Glossing, a form of toxic positivity, is prevalent in workplaces, an expert said</li><li>Leaders can set the tone for glossing, creating a culture of fear and guarded behavior.</li></ul>If you have a tendency to say "everything's fine" at work and brush things under the rug, you might be "glossing."Glossing is a form of <a target="_blank" class="" href="https://www.businessinsider.com/what-is-toxic-positivity-how-to-address-at-work-2021-1">toxic positivity</a> — in which people suppress and deny their negative emotions — and it could be holding you back.Leena Rinne, Skillsoft's global head of coaching, told Business Insider there are many reasons "glossing" happens in the workplace, but it tends to occur during periods of stressful change and when people want to "fly under the radar.""I think it's a natural response to anxiety or fear," Rinne said.<a target="_blank" class="" href="https://www.leadershipiq.com/blogs/leadershipiq/study-the-risks-of-ignoring-employee-feedback">A Leadership IQ survey</a> of 27,048 executives, managers, and employees last year found that just 15% of employees thought their employer always openly shared its challenges, and 21% said they believed their organization was never upfront about the difficult times.<a target="_blank" href="https://www.scienceofpeople.com/toxic-positivity/">A survey conducted by the newsletter Science of People</a> in June and answered by hundreds of readers also found that almost 68% of respondents believed they'd experienced toxic positivity in the last week.Rinne said this behavior is usually imprinted on a workforce from the top down, and managers and their reports will "gloss" for different reasons."Leaders create culture," Rinne said. "If I show up to a meeting with big feelings and my leader's like, 'Hi everybody,' and just glosses, then the signal to me is that that's what we need to do here."Leaders keeping their heads down and employees feeling fearful creates "a perfect storm for people to show up very carefully," said Rinne.When the workforce is guarded, everyone loses out, Rinne said."I'm less willing to evaluate the problems for better solutions. I'm less willing to take risks and be innovative," she said. "So I think senior leaders and all leaders should be concerned about this."<h2 id="40ca7682-0489-440e-9b26-a822d36fa622">Work friendships are dying out</h2>Fewer people are <a target="_blank" class="" href="https://www.businessinsider.com/millennial-working-from-home-office-misses-friends-loneliness-remote-2024-6">making friends at work</a>. Some even think <a target="_blank" class="" href="https://www.businessinsider.com/office-friendship-dead-remote-work-employers-turnover-great-resignation-2022-4">office friendships are dead</a> since remote working became the norm, and layoffs are sweeping over many industries.While some believe <a target="_blank" href="https://www.businessinsider.com/work-friends-are-over-remote-jobs-gen-z-relationships-pandemic-2024-6">it's for the better</a>, others think those connections are vital for our mental well-being — particularly <a target="_blank" class="" href="https://www.businessinsider.com/work-friends-spouses-loneliness-remote-hybrid-benefits-of-work-connections-2024-6">in combating loneliness</a>.Rinne said this has formed a culture where employees believe they are treated transactionally and are showing up <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-job-satisfaction-unhappy-work-salary-promotion-loyalty-2024-2">to do a job and little else</a>, which has, in turn, made glossing more prevalent.People don't want to bring their full selves, or even their best selves, to work because they feel less secure that they'll be around long enough."There's a reason why we show up this way at work, and I think that senior leaders in particular need to take a pretty hard look to say, what are we creating, and how are we motivating people to show up in this way?" Rinne said. "Because it's not random, it's not laziness."<h2 id="dccf8f08-1a1b-43bd-93fc-1c8caa01e047">It's not rocket science</h2>Rinne said some signs of a glossing workforce are people not talking about tough issues at all or talking only behind their manager's back. They might also not be turning on their cameras for remote meetings anymore.If that's happening, leaders need to do some self-reflection, Rinne said, and ask themselves if they've been glossing.The <a target="_blank" class="" href="https://pubmed.ncbi.nlm.nih.gov/28703602/">negative impacts</a> of toxic glossing can manifest as a burned-out workforce that feels stressed and ashamed, blames themselves and feels isolated, and calls in sick more frequently. It could even lead to employees taking extended periods of time off due to poor mental health.Tackling the issue isn't rocket science, though, Rinne said.When a company is going through a tough quarter, managers may be tempted to gloss over it because it's not wholly positive news, and they want to keep morale up. But Rinne said managers should pause and acknowledge the harder times."Hey, we are in a period of disruption, and disruption is hard," she said. "We know it's hard, and we're so grateful you're on this ride with us. There's no one we'd rather have than you."Rinne said managers don't have to take responsibility for the entire company. They can create "a bubble culture" for their own teams."It can be bananas out there," she said. "Because of that, whatever it is, I can create a subculture in the larger culture of calm — people feeling seen, people feeling heard, people feeling focused."One manager Rinne worked with said they had begun starting meetings by getting everyone to stand up and stretch for 60 seconds."It's no time at all," Rinne said. "And everyone shows up just a little differently for the meeting."<h2 id="b2830a1c-af58-4b61-8bbd-2c918d0728f4">Framing bad news</h2>This skill isn't intuitive to many leaders, though, Rinne added, and many could benefit from coaching to help them navigate tough conversations. Some go too far the other way and are far too blunt and harsh when difficulties arise."Hearing from a leader how the disruptive change on the horizon is going to be so difficult," Rinne said. "There's a way to frame that eases anxiety, and there's a way to frame it that probably amps it up."Leaders need to be taught the skills to be transparent in a way that builds trust, "not transparent in a way that scares people," she said.Ultimately, people appreciate honesty, even when the news isn't wholly positive.Rinne said employees would much rather not be shocked when layoffs are announced or a restructure breaks up their team. If they aren't kept in the dark, they are more likely to be engaged after periods of disruption."You get more when people feel safe and feel engaged than if they're punching that clock and glossing for hours," Rinne said.

'Glossing' at work is a form of toxic positivity, and it may be holding you back

<ul class="summary-list"><li>Gen Zers can face workplace challenges due to a perceived lack of experience and high demands.</li><li>Experts argue Gen Z's behavior is shaped by missing formative years during the COVID-19 pandemic.</li></ul>Gen Zers have long been portrayed to be lazy, <a target="_blank" class="" href="https://www.wsj.com/lifestyle/careers/gen-z-workforce-expectation-differences-a07c5915">entitled</a>, and overly demanding.Newsweek labeled Zoomers "<a target="_blank" class="" href="https://www.newsweek.com/employers-say-gen-z-toxic-workplace-1882557">toxic for companies</a>," while <a target="_blank" class="" href="https://www.bbc.com/worklife/article/20220613-gen-z-the-workers-who-want-it-all">the BBC reported</a> they are the cohort that "want it all" — career progression, fair pay, and a work-life balance.<a target="_blank" class="" href="https://www.wsj.com/lifestyle/careers/gen-z-workforce-expectation-differences-a07c5915">The Wall Street Journal, citing surveys</a>, said that companies find the youngest employees the most difficult to work with. Business Insider has also reported on Gen Zers <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-jobseekers-unprofessional-entitled-employers-say-survey-2024-1">bringing parents to job interviews</a>, being <a target="_blank" class="" href="https://www.businessinsider.com/managers-say-gen-z-easily-offended-top-cause-firing-survey-2023-4">fired in their first few weeks of work</a>, and <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-workers-are-lazy-lack-soft-skills-managers-say-2023-8">bosses perceiving this cohort as lazy</a>.The jury is still out over whether these negative stereotypes hold true. But many Gen Zers don't agree with them, and some even believe they are holding them back at work.Whether the stereotypes of Gen Z are fair not not, workplace experts warn that giving up on Zoomers so early is a mistake.They say judging young talent on their behavior, which may have been partly impacted by missing out on several formative years due to the COVID-19 pandemic, is shortsighted. Some stereotypes may be rooted in accuracy, but Gen Zers should be cut more slack, they say."This is soon going to be the largest cohort in the American workforce," Richard Wahlquist, the CEO of the American Staffing Association, told BI. "So it's not just an investment in today, it's the reality of our future for years to come."<h2 id="3b552647-6657-423a-9b0e-2dee38724e2d">The real-world impact</h2>Gen Zers who spoke to BI said they felt unsupported in the workplace and unfairly targeted.Max Jones, a 21-year-old graduate trainee, told BI that he and his friends feel like they are "made to seem lazy or not trying hard enough" at work. He said this feeling wasn't specific to any one company, but anywhere he interacted with older people in a professional capacity, he felt "a general vibe."Shriya Boppana, 25, left her job to pursue an MBA because she felt she had been unjustly denied bonuses and promotions at TKTK"I've had managers in the past judge me for not having furniture in my new apartment," Boppana told BI, adding that they would "blame it on me being Gen Z and how we're just lazy."Boppana said managers also stalked her social media and told her she should be "spending more time at work" than posting on Instagram.Aquayemi-Claude Akinsanya, 26, told BI that in the workplace, Gen Zers are often assumed to lack dedication or a strong work ethic."This can be especially frustrating when my passion for education and my commitment to my projects and task at times are overshadowed by systematic and narrow thinking stereotypes," Akinsanya said.Akinsanya also didn't find this experience occurred at just one company but "across various settings.""I've often found myself reflecting on the balance between personal values and the corporate structures that sometimes challenge them," he said.<h2 id="c47ebc44-8eb2-4d33-a8fa-03cdab477a6b">Stunted experiences</h2>Many <a target="_blank" rel="" href="https://www.businessinsider.com/remote-work-fueling-gen-z-job-anxiety-stress-mental-health-2023-12">Gen Zers started their careers</a> in a remote environment during the pandemic and missed the opportunity to observe the unwritten rules of workplace etiquette.One <a target="_blank" class="" href="https://www.businessinsider.com/how-millennial-bosses-manage-gen-z-workers">millennial manager told BI</a> they thought their Gen Z employees crossed professional boundaries as a result, particularly when it came to complaining about work."They're unsure of how to cope with everyday challenges — competing deadlines, interpersonal issues, and receiving feedback — and they want to express that," the millennial manager said.Rhea Moss, the director of customer experience and data insights at iCIMS, told BI that Gen Z was disrupted by a traumatic global event, the impacts of which some workplaces just don't consider."This group probably had fewer internships when they started, maybe right out of school," Moss said. "They didn't get that normal learning-through-osmosis experience in an office."Zoomers are entering the workplace at a time when everyone is still figuring things out, she said, while being expected to naturally slot into it.ones told BI he believes the pandemic "played a massive role" in this disconnect between workplaces and Gen Zers, with missing out on a year or more of direct contact."This is mostly shown in our confidence around the workforce," he said, such as a fear of getting something wrong or speaking up."This was most notable at uni, where in my first lecture, nobody spoke to each other," he said. "It was like we had forgotten to communicate or were afraid to speak."Chloe Combi, a researcher, speaker, and author of "Generation Z: Their Voices, Their Lives," told BI that Gen Zers have also grown up in a schooling and parenting system that is "very handholding" and "prescriptive.""The modern education system and modern parenting are completely geared toward the kind of maximum comfort and solving problems for young people," Combi said.All these factors create "a perfect storm of psychological issues," Combi said, and a lack of experience coming into the professional workplace.<h2 id="c20fd346-9d1c-4540-9667-00fb78f67f0e">The long-term goal</h2>This isn't the full story. Wanting a better work-life is not a crime, and <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-workplace-culture-office-challenging-norms-millennials-boomers-genx-2023-11">a workplace reckoning</a> that focuses more on balance and flexibility has been a long time coming, some experts argue.Gen Zers do have high standards, but that can be a good thing, Jeanie Y. Chang, a licensed clinician, speaker, and mental health educator, told BI.To sidestep <a target="_blank" class="" href="https://www.businessinsider.com/great-detachment-is-looming-for-employees-especially-for-gen-z-2024-8">the looming "Great Detachment,"</a> it might be time for employers to start listening to their young talent, especially when it comes to mental health.Chang said Gen Zers prioritize companies that offer perks such as mental health days and wellness workshops."That's probably where some feel like they're not being invested in because that's not available," she said. "A lot of my job is going to the older generations and saying, yes, it is important. Your mental health, your wellness, is important."Chang warns companies to start investing in these things, "or you're not going to have a workplace."Chang also reminds executives that they are going to want to retire, so investing in the Gen Z workforce now is going to make passing the torch much easier later on.Some companies are already doing this and making themselves attractive to Gen Z talent. Nike, for example, has invested in mental health perks, such as offering 20 free therapy or coaching sessions, <a target="_blank" class="" href="https://www.forbes.com/sites/karadennison/2023/10/24/why-companies-should-prioritize-employee-health-and-happiness-in-2024/">Forbes reported</a>.<a target="_blank" href="https://affiliate.insider.com?h=9405b7d596e5db0a7835cf148cc5efb36c64d36d1b885098cff47688709f6361&amp;postID=67079ba8e5b5408300506908&amp;postSlug=mistake-to-undervalue-gen-zers-in-the-workplace-experts-say-2024-10&amp;site=bi&amp;u=https%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fstories%2F2024%2F01%2F25%2Fchipotle-is-offering-new-benefits-to-gen-z-workers">According to Morning Brew</a>, Chipotle has also taken note and offers mental health support. The company also matches up to 4% of employees' salary through 401(k) contributions if they have student loan payments and has a program to help people build credit.Wahlquist said one major plus for hiring young people is that Gen Zers "just get" the benefits of <a target="_blank" href="https://www.businessinsider.com/gen-z-wants-to-go-in-office-bosses-dont-2023-7">going into the office</a>, especially at a time when some companies are keen on bringing their staff back.Maggie Angevine, Wahlquist's colleague and a public relations coordinator at the ASA, is a Gen Zer herself. She told BI that she and many of her friends appreciate the office setting because they spent a lot of their college time, and even some internships, online."I'd never been in an office before, and the majority of my peers had also never been in an office," she said. "We all really like it."<h2 id="17670113-d547-41fb-937f-513309ff72b9">Sponsors and mentors are the answer</h2>The answer to the disconnect between Gen Zers and their employers lies in sponsorship and mentorship, Chang said, both of which are important.A mentor is someone higher up the chain who listens and can give advice, like a counselor. A sponsor advocates for you."The sponsor is the one that actually takes action and even takes a risk," Chang said. "That's very much needed with this young generation."Every generation can learn from every other in the workplace, whether it's the wisdom passed down from boomers or the digitally native skills of Gen Z.Moss said businesses claim they want to hire Zoomers, but to do so successfully they need to understand they can't assimilate young talent into the company the same way they would someone with 15 years of experience."That is where there is a struggle," she said. "They're trying to bring that talent in and figure out how to push them through a process that wasn't necessarily built for this day and age."

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