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<ul class="summary-list"><li>Chinese police, health staff, and transport workers have been using smart helmets to monitor people for high temperatures in the fight against <keyword id="8763838" type="UNKNOWN" weightage="60" keywordseo="covid-19">COVID-19</keyword>.</li><li>The helmets are made by Chinese firm <keyword id="9236199" type="UNKNOWN" weightage="60" keywordseo="kc-wearable">KC Wearable</keyword> and use thermal imaging to take people's temperatures at a distance of around two meters.</li><li>The helmets are now popping up across the world, and the company told BI they are being rolled out to police in Italy and Dubai, with other Western governments showing interest.</li><li>Experts say thermal scanning can be a good way to measure for fever, but question how effective such measures would be as some people affected by COVID-19 are asymptomatic and won't run a temperature.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>The video starts with appropriately menacing music. On the left is a motionless police officer, face hidden by an outsized helmet with a camera mounted on top. On the right is the live feed from the helmet itself, showing people walking around in face masks. A number displays above their heads as they move around — their live body temperature, as captured by the helmet's <keyword id="414256" type="PERSON" weightage="60" keywordseo="Infrared">infrared</keyword> camera.This is a YouTube video advertising the wares of KC Wearable, one of many Chinese companies pushing futuristic <keyword id="6354565" type="UNKNOWN" weightage="60" keywordseo="Surveillance">surveillance</keyword> tech to keep track of the COVID-19 outbreak.Its KC N901 <keyword id="3335297" type="PERSON" weightage="60" keywordseo="smart-helmet">smart helmet</keyword> is equipped with an ARM processor, an augmented reality display screen, an infrared camera, and a visible light camera. According to device specifications seen by Business Insider, the wearer can detect the temperature, to within 0.3 degrees Celsius, of passers-by within around two meters.A law enforcement officer wearing the helmet could do any of the following: Measure the temperature of a specific individual; measure the temperatures of people passing by in larger crowds; scan a person's QR code for personal data; recognize license plates; spot people in the dark; or recognize people using facial recognition.Any information captured is stored on the helmet itself, the company says.According to KC Wearable's global chief, Dr Jie Guo, more than 1,000 helmets are already in use across <keyword id="1334" type="COUNTRY" weightage="60" keywordseo="China">China</keyword>. One unnamed country, she said, has ordered hundreds of helmets and more international deals are coming. The helmets cost between $5,000 to $7,000 per unit.She added that customers put in early orders for samples, tested the devices out, and then put in larger orders.The company says it has sent helmets to Italy's carabinieri military police and to the Dutch government for testing. Police are also using the devices in Dubai.<div type="image" title="Dubai smart helmets COVID-19" height="1334" width="1778" msid="75786581" hostid="261"></div>Business Insider approached the Italian embassy and the Dutch government for comment. Neither responded, but an Italian user on Reddit spotted an armed guard sporting the helmets outside Milan's cathedral this month.Asked about the accuracy of the helmet's temperature scanning, Dr Guo said precision was "96%" and that the company had conducted extensive tests. <div type="image" title="Italy police smart helmet temperature scanning" height="581" width="848" msid="75786582" hostid="261"></div>Dr Guo told Business Insider: "Government authorities and some private buyers are using the helmets. In China, local policemen, nurses, security guards, and people [staffing] checking points at metro stations are all using the helmets."She added that the devices were flexible. "In many places, they use fixed infrared cameras, but our helmets can be used with higher flexibility, adaptability — it can be worn or put on a tripod."If a helmet on temperature-scanning mode detects someone nearby with a fever, an alarm goes off."It gives a warning to the user directly," said Dr Guo. <h2>There's mixed evidence that temperature screening works</h2>Experts are skeptical about how helpful temperature scanning will be.Professor Davey Jones of Bangor University, who led a research project into the spread of COVID-19, pointed to the Diamond Princess cruise ship, which fumbled its response as the <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword> spread through the vessel, <a href="https://www.nytimes.com/2020/03/08/world/asia/coronavirus-cruise-ship.html">infecting around 700 people and killing eight</a>."At least 25% of the [ship's] population had no symptoms whatsoever, so clearly they're not running a temperature," he said. "So you end up missing a huge percentage of these people and they are still shedding the virus."Professor Jones added that people could be running a temperature for a number of other reasons, such as going through the menopause. "That leads to a whole bunch of false positives," he said.Dr Chris Wright, a medical doctor and expert in thermal imaging at the University of Exeter, said temperature scanning could be useful "if done correctly."The most precise way of taking someone's temperature is via the inner corner of the eye, he said."The person needs to face the camera squarely because the reading will be affected by angle," he told BI via email. "Also, distance is key. Too close and the reading will be overtly affected by the camera operator, too far away, and sensitivity is lost."For scanning in clinical settings, Dr Wright added, you need a high-resolution camera. He pointed us to one example he uses, a FLIR device, which has a resolution of 640 x 480. That compares to the smart helmet's infrared camera resolution of 384 x 288.Such devices, he argued, can be useful at airports, supermarkets, or even at entrances to doctors' surgeries, as long as they use a high-resolution camera.The idea has been mooted before, Dr Wright said, pointing to <a href="https://www.newscientist.com/article/dn3656-airports-scan-for-sars-victims-flushed-faces/">airports using thermal scanning during the SARS outbreak</a> in Asia, but there are questions over how effective that was.A <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7014668/#r12">study published by Eurosurveillance in February</a> concluded: "Airport screening is unlikely to detect a sufficient proportion of 2019-nCoV [coronavirus] infected travelers to avoid entry of infected travelers.""It will identify some high-temperature cases but sensitivity will be poor," Dr Wright cautioned.There are also questions about who should be wearing these helmets, and what they should do once an alarm is triggered.Dr Wright continued: "Clearly as a policeman, distance is a problem if you need to arrest someone, but never do without wearing a mask and gloves. Is it really up to the police to identify people with a temperature?"While countries such as Singapore and China have deployed everything from robot dogs to drone spies to monitor the population, most citizens in Europe are unused to being tracked in this way.Dr Guo argued that some alterations to normal life is to be expected."I think we may need to make some [short-term] adjustments to our lives, not only to protect ourselves but to protect others' lives," she said. "[T]his isn't one person's responsibility, it's everybody's responsibility. Protect ourselves, and protect others."Read the original article on <a href="https://www.businessinsider.com/coronavirus-italy-holland-china-temperature-scanning-helmets-2020-5">Business Insider</a>

Police in China, Dubai, and Italy are using these surveillance helmets to scan people for COVID-19 fever as they walk past and it may be our future normal

Juul; Shayanne Gal/Business InsiderSome of Juul's leadership team: CEO K.C. Crosthwaite, cofounder James Monsees, cofounder Adam Bowen, chief people officer Monika Fahlbusch, and chief regulatory officer Joe Murillo.<ul class="summary-list"><li>E-cigarette maker Juul curtailed its expansion and shook up its management in 2019 in the face of regulatory scrutiny and federal investigations.</li><li>From new chief regulatory officer Joe Murillo to chief operations officer David Dickey, here are the 23 people charged with repairing Juul's damaged relationship with the public and regulators.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories.</a></li></ul>It's been a tough year for the dominant e-cigarette maker, Juul Labs, which has been facing regulatory scrutiny and investigations over the health of its products.The startup has been sued by states including New York and California, which say that Juul targets teens, fails to warn that its products contain nicotine, and represents its product as safer than cigarettes. The government has warned against the use of e-cigarettes as vaping-related illnesses have grown, though many of those cases have involved vaping THC products, which Juul does not sell.Juul has shaken up its management as it attempts to repair its damaged relationship with the public and regulators.CEO K.C. Crosthwaite took over from previous CEO Kevin Burns in September and installed new leaders as the company enters its next phase. These executives oversee the company's regulatory practice, engineering, strategy, press relations, and more. Given the challenges it's facing, Juul is leaning on people like Joe Murillo and Jared Fix with experience at companies like Altria and Constellation Brands, respectively, whose products are heavily regulated. Others, like former White House operative Josh Raffel, are seasoned crisis management experts.Here are the 23 executives and other key people who are charged with battling Juul's mounting challenges:<a href="/intelligence/digital-health?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=health&amp;itm_campaign=digital-health"></a>Featured Digital Health Articles: - <a href="/telehealth-industry-explained">Telehealth Industry: Benefits, Services &amp; Examples</a> - <a href="/value-based-care-pay-for-performance-healthcare-model">Value-Based Care Model: Pay-for-Performance Healthcare</a> - <a href="/senior-care-market-trends">Senior Care &amp; Assisted Living Market Trends</a> - <a href="/wearable-technology-healthcare-medical-devices">Smart Medical Devices: Wearable Tech in Healthcare</a> - <a href="/artificial-intelligence-healthcare">AI in Healthcare</a> - <a href="/remote-patient-monitoring-industry-explained">Remote Patient Monitoring Industry: Devices &amp; Market Trends</a>

These are the 23 key people at Juul Labs who are charged with navigating the company through regulatory scrutiny and federal investigations

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul class="summary-list"><li><a href="https://businessinsider.com/category/juul">Juul</a> will cut roughly 500 jobs between now and the end of the year, <a href="https://www.wsj.com/articles/juul-to-cut-about-500-jobs-11572301778">The Wall Street Journal</a> first reported Monday.</li><li>The cuts come as the e-cigarette company prepares for a proposed nation-wide ban on flavored pods, which comprise over 80% of its US sales.</li><li><a href="https://businessinsider.com/category/juul">Juul</a> said in a statement to Business Insider that the coming job cuts are needed to "right-size the business," which hired an average of 300 people per month in 2019.</li><li>The e-cigarette giant will also refocus on appeasing regulators and developing new technologies.</li><li><a href="https://businessinsider.com">Visit Business Insider's homepage for more stories.</a></li></ul>The federal crackdown on e-cigarettes is beginning to take a toll on the workforce at Juul Labs, which will cut approximately 500 jobs between now and the end of the year.The job cuts, first reported by <a href="https://www.wsj.com/articles/juul-to-cut-about-500-jobs-11572301778">The Wall Street Journal</a>, come as Juul prepares for a <a href="https://www.businessinsider.com/trump-to-propose-ban-on-flavorings-used-in-e-cigarettes-2019-9">proposed federal ban</a> on e-cigarette flavors. Non-tobacco flavors account for 80% of Juul's US sales, according to <a href="https://www.cnbc.com/2019/10/24/juul-halting-sales-of-sweet-flavors-does-not-stop-trump-plans-hhs-secretary.html">CNBC</a>.A Juul spokesperson confirmed the cuts in a statement to Business Insider, stating that the e-cigarette giant is thinning its staff to "right-size the business," which hired an average of 300 people per month in 2019. The cuts would account for roughly 10% to 15% of the company's workforce.Major e-cigarette manufacturers like Juul have come under harsh scrutiny from regulators, who accused e-cigarettes of appealing to minors with candy- and fruit-flavored nicotine products and aggressive advertising campaigns. State and federal regulators have also investigated <a href="https://www.businessinsider.com/trump-to-propose-ban-on-flavorings-used-in-e-cigarettes-2019-9">hundreds of lung illnesses related to vaping</a>, but none have been directly tied to Juul. Juul insists its primary purpose is to help long-term smokers quit cigarettes.Juul's new CEO, K.C. Crosswaite, who joined the company after leaving the Altria Group last month, has overhauled the company's priorities in response to backlash from regulators. Juul has halted all product advertising in the US, suspended its sales of Mango, Creme, Fruit, and Cucumber flavored pods, and has said it will comply fully with federal regulation.Crosswaithe has also reorganized the company's government lobbying and compliance arms to focus on "earning trust with regulators, policymakers and government officials worldwide," according to the spokesperson."As the vapor category undergoes a necessary reset, this reorganization will help JUUL Labs focus on reducing underage use, investing in scientific research, and creating new technologies while earning a license to operate in the U.S. and around the world," Juul CEO K.C. Crosswaithe said in a statement.As it braces for impending regulation, Juul is also exploring new gadgets, including potential Bluetooth-enabled device, the spokesperson said.<a href="/intelligence/digital-health?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=health&amp;itm_campaign=digital-health-3"></a>Featured Digital Health Articles: - <a href="/telehealth-industry-explained">Telehealth Industry: Benefits, Services &amp; Examples</a> - <a href="/value-based-care-pay-for-performance-healthcare-model">Value-Based Care Model: Pay-for-Performance Healthcare</a> - <a href="/senior-care-market-trends">Senior Care &amp; Assisted Living Market Trends</a> - <a href="/wearable-technology-healthcare-medical-devices">Smart Medical Devices: Wearable Tech in Healthcare</a> - <a href="/artificial-intelligence-healthcare">AI in Healthcare</a> - <a href="/remote-patient-monitoring-industry-explained">Remote Patient Monitoring Industry: Devices &amp; Market Trends</a>

Juul confirms plans to cut 500 jobs as it prepares for a ban on flavored pods, which make up 80% of its US sales

<div class="KonaFilter image-container display-table"><div><div class="image on-image">An ad on Juul's website from 2016.</div></div></div><ul class="summary-list"><li><a href="https://www.businessinsider.com/juul-timeline-from-startup-to-tobacco-company-challenges-bans-2019-9">Juul</a> is halting sales of its mint vaping cartridges, the e-cigarette company's most popular flavor.</li><li>The news comes on the heels of new research suggesting that mint and mango are the top flavors among high school students who Juul.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>On the heels of new <a href="https://www.nih.gov/news-events/news-releases/nih-funded-study-finds-teens-prefer-mint-mango-vaping-flavors">research released this week</a> suggesting that mint and mango are the most popular flavors among high school students who use Juuls, the e-cigarette giant has announced it will stop selling its mint-flavored refillable cartridges.The mint-flavored options were Juul's best seller, accounting for roughly two-thirds of total Juul pod sales in February 2019, according to <a href="https://www.cnbc.com/2019/10/30/former-juul-executive-sues-over-retaliation-claims-company-knowingly-sold-tainted-pods.html" target="" title="" rel="" data-type="" aria-label="">a wrongful termination lawsuit</a> filed by a former Juul executive last week. The lawsuit said sales of the mint pods had doubled from the previous September.In a press release emailed to Business Insider, Juul said it would immediately stop accepting orders for the mint-flavored pods from <keyword id="6354851" type="UNKNOWN" weightage="60" keywordseo="retail">retail</keyword> partners and stop selling them online as well.According to the release, Juul's decision was based partially on <a href="https://www.nih.gov/news-events/news-releases/nih-funded-study-finds-teens-prefer-mint-mango-vaping-flavors">new research released this week</a> which found that mint and mango were the most popular flavors among high school students who use Juul's devices."These results are unacceptable," Juul Labs CEO KC Crosthwaite said in the release, adding, "that is why we must reset the vapor category in the US and earn the trust of society by working cooperatively with regulators, Attorneys General, public health officials, and other stakeholders to combat underage use."<a href="/intelligence/digital-health?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=health&amp;itm_campaign=digital-health-3"></a>Featured Digital Health Articles: - <a href="/telehealth-industry-explained">Telehealth Industry: Benefits, Services &amp; Examples</a> - <a href="/value-based-care-pay-for-performance-healthcare-model">Value-Based Care Model: Pay-for-Performance Healthcare</a> - <a href="/senior-care-market-trends">Senior Care &amp; Assisted Living Market Trends</a> - <a href="/wearable-technology-healthcare-medical-devices">Smart Medical Devices: Wearable Tech in Healthcare</a> - <a href="/artificial-intelligence-healthcare">AI in Healthcare</a> - <a href="/remote-patient-monitoring-industry-explained">Remote Patient Monitoring Industry: Devices &amp; Market Trends</a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/whats-inside-a-lava-lamp-2019-10">What's inside a lava lamp?</a></h3> <div> </div> </div>

Juul has pulled its most popular flavor in a last-ditch effort to stop teens from vaping

Good morning! This is the tech news you need to know this Monday.<ol><li><a href="https://www.bloomberg.com/news/articles/2020-05-17/apple-says-nearly-100-stores-globally-have-reopened-their-doors">This week Apple is reopening 25 of its US stores plus 12 in Canada, Bloomberg reports</a>. People going into Apple stores will have their temperatures checked at the door and will be provided with a face mask if they don't have one.</li><li><a href="https://www.businessinsider.com/uber-layoffs-another-round-of-thousands-cut-on-monday-source-2020-5?r=US&amp;IR=TIR=T">Uber is expected to begin another round of layoffs on Monday, cutting thousands of jobs just weeks after laying off 14% of its workforce</a>. A source familiar with the matter told Business Insider thousands more employees will have their jobs cut.</li><li><a href="https://www.androidpolice.com/2020/05/17/google-meet-passes-50-million-downloads-boosted-by-coronavirus/">Google Meet's downloads have soared from 5 million to 50 million since March, Android Police reports</a>. Google made the <a href="https://www.businessinsider.com/google-hangouts-video-conferencing-free-coronavirus-zoom-2020-3?r=US&amp;IR=TIR=T">premium version of its video conferencing service Google Meet free</a> last month.</li><li><a href="https://www.businessinsider.com/china-united-states-stop-huawei-unreasonable-suppression-2020-5">China pushed back on the United States to stop "unreasonable suppression" of Huawei and other Chinese businesses</a>. Tensions between the world's two largest economies have spiked in recent weeks, with officials on both sides suggesting they could abandon a hard-won deal that defused a bitter 18-month trade war.</li><li><a href="https://www.businessinsider.com/ransomware-trump-lady-gaga-hack-leaks-files-presidents-2020-5">A cybergang who last week dumped data relating to Lady Gaga has now threatened to leak President Trump's data</a>. The hackers on Thursday dumped thousands of Lady Gaga's legal documents, demanding a $42 million ransom from her law firm, which was hacked.</li><li><a href="https://www.businessinsider.com/amazon-warehouse-workers-thank-you-t-shirts-as-it-cuts-their-hazard-pay-2020-5">Amazon is handing out "Thank you" t-shirts to warehouse workers as it cuts their hazard pay</a>. One worker based in Indiana shared a picture of the shirt they received, the front reads "Thanks to you" and on the back: "Together, we'll deliver."</li><li><a href="https://www.businessinsider.com/coronavirus-italy-holland-china-temperature-scanning-helmets-2020-5">Police in China, Dubai, and Italy are using these surveillance helmets to scan people for COVID-19 fever as they walk past</a>. The helmets are made by Chinese firm KC Wearable and use thermal imaging to take people's temperatures at a distance of around two meters.</li><li><a href="https://www.businessinsider.com/employees-lament-the-open-culture-that-made-google-famous-2020-5">Google employees say the company culture that made it famous has almost entirely vanished, as it continues to be less transparent and more "corporate."</a> One veteran employee told Business Insider: "There was this sense we were all on the same team [...] "I'm not saying we don't feel that way now, but it's really hard to do with more than 100,000 people." </li><li><a href="https://www.businessinsider.com/jack-dorsey-already-donated-73-million-covid-19-relief-2020-5">Twitter CEO Jack Dorsey unveiled where he's donated more than $87 million of his pledged $1 billion towards COVID-19 relief</a>. Dorsey's donations have ranged across a number of causes from stopping domestic violence, to giving equal access to the internet for students. </li><li><a href="https://www.businessinsider.com/elon-musk-tweets-take-the-red-pill-what-it-means-2020-5?r=US&amp;IR=TIR=T">Elon Musk tweeted "take the red pill" in another strange turn for the billionaire</a>. "The red pill" is a common internet term for an individual shifting their political views rightward.</li></ol>Have an Amazon Alexa device? Now you can hear <keyword id="9070519" type="UNKNOWN" weightage="60" keywordseo="10-things-in-tech">10 Things in Tech</keyword> each morning. Just search for "Business Insider" in your Alexa's flash briefing settings.You can also <a href="https://newsletter.businessinsider.com/join/free">subscribe to this newsletter</a> here — just tick "10 Things in Tech You Need to Know.Read the original article on <a href="https://www.businessinsider.com/10-things-in-tech-you-need-to-know-today-may-18-2020-5">Business Insider</a>

10 things in tech you need to know today

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Associated PressJuul is cutting 16% of its workforce.</div></div></div><ul class="summary-list"><li><a href="https://businessinsider.com/category/juul">Juul</a> is laying off around 650 workers and plans to cut costs by $1 billion in 2020, according to a new report from <a href="https://www.wsj.com/articles/juul-to-cut-roughly-650-jobs-or-16-of-workers-11573561830">The Wall Street Journal</a>.</li><li>A spokesperson for the company told Business Insider that these cuts will begin on Tuesday; all employees impacted will receive severance packages.</li><li>These cuts come as the e-cigarette company prepares for a hit to sales after it halted sales of some of its most popular flavored pods. Non-tobacco flavors account for 80% of Juul's US sales, according to <a href="https://www.cnbc.com/2019/10/24/juul-halting-sales-of-sweet-flavors-does-not-stop-trump-plans-hhs-secretary.html">CNBC</a>.</li><li><a href="https://businessinsider.com/">Visit Business Insider's homepage for more stories.</a></li></ul>Juul is making some drastic changes as it prepares for a hit to sales after banning its most popular vape flavors. The embattled e-cigarette company confirmed that it is laying off 650 workers and plans to cut costs by $1 billion next year. The news was first reported by <a href="https://www.wsj.com/articles/juul-to-cut-roughly-650-jobs-or-16-of-workers-11573561830">The Wall Street Journal's Kimberly Chin and Jennifer Maloney</a>. The Journal previously reported in <a href="https://www.wsj.com/articles/juul-to-cut-about-500-jobs-11572301778?mod=article_inline">October</a> that Juul would cut up to 500 jobs. The news today marks a substantial increase in the number of jobs cut, which now represent 16% of Juul's 4,051 person workforce. In a statement emailed to Business Insider, a spokesperson for Juul said that these cuts will begin on Tuesday and that all employees impacted will receive severance packages. These changes come less than a week after <a href="https://www.businessinsider.com/juul-stops-selling-mint-flavored-vapes-ecigs-2019-11">Juul announced that it would be halting sales of its mint-flavored vaping</a> pods, its most popular flavor, after research indicated that mint and mango-flavored pods were the top choices for teens. The company has come under increased scrutiny from regulators, who say that its aggressive marketing campaigns and appealing candy flavors are encouraging minors to become addicted to nicotine products. State and federal regulators have also investigated <a href="https://www.businessinsider.com/trump-to-propose-ban-on-flavorings-used-in-e-cigarettes-2019-9">hundreds of lung illnesses related to vaping</a>, but none have been directly tied to Juul. Juul insists its primary purpose is to help long-term smokers quit cigarettes.Last year, it announced that it would stop selling its mango, fruit, cucumber, and cream pods in stores, and later expanded that policy to include online sales. Non-tobacco flavors account for 80% of Juul's US sales, according to <a href="https://www.cnbc.com/2019/10/24/juul-halting-sales-of-sweet-flavors-does-not-stop-trump-plans-hhs-secretary.html">CNBC</a>. This leaves it with two remaining flavors - menthol and tobacco.A spokesperson said in a statement emailed to Business Insider that it plans to cut costs by $1 billion in 2020 by scaling back on its marketing and directing it only to adult smokers. "As the vapor category undergoes a necessary reset, this reorganization will help JUUL Labs focus on reducing underage use, investing in scientific research, and creating new technologies while earning a license to operate in the U.S. and around the world," its new CEO, K.C. Crosthwaite, said in a statement to the press on Tuesday. <a href="/intelligence/digital-health?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=health&amp;itm_campaign=digital-health-3"></a>Featured Digital Health Articles: - <a href="/telehealth-industry-explained">Telehealth Industry: Benefits, Services &amp; Examples</a> - <a href="/value-based-care-pay-for-performance-healthcare-model">Value-Based Care Model: Pay-for-Performance Healthcare</a> - <a href="/senior-care-market-trends">Senior Care &amp; Assisted Living Market Trends</a> - <a href="/wearable-technology-healthcare-medical-devices">Smart Medical Devices: Wearable Tech in Healthcare</a> - <a href="/artificial-intelligence-healthcare">AI in Healthcare</a> - <a href="/remote-patient-monitoring-industry-explained">Remote Patient Monitoring Industry: Devices &amp; Market Trends</a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/singles-day-alibaba-25-billion-largest-shopping-holiday-2018-11">How Alibaba turned a fake holiday into a $25 billion shopping extravaganza that's bigger than Black Friday and Cyber Monday combined</a></h3> <div> </div> </div>

Juul is laying off 650 workers and plans to cut spending by $1 billion as it braces for a hit to sales after pulling popular flavors

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul class="summary-list"><li>E-cigarette company Juul faces an <a href="https://www.businessinsider.com/juul-timeline-from-startup-to-tobacco-company-challenges-bans-2019-9">uncertain future</a> as it brings on a new CEO with a long track record in the tobacco industry.</li><li>In the US, Juul is confronting <a href="https://www.businessinsider.com/juul-timeline-from-startup-to-tobacco-company-challenges-bans-2019-9">challenges</a> that include warnings from national regulators, probes by members of Congress, bans, and questions about the health of vaping.</li><li>Juul has raised a lot of money to speed its success outside of the US in countries like China and India, the world's largest smoking markets.</li><li>But some of those countries appear to be closing their doors to Juul too.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories</a>.</li></ul>Regulatory investigations. A criminal probe. A <a href="https://www.businessinsider.com/juul-timeline-from-startup-to-tobacco-company-challenges-bans-2019-9">warning</a> from the US Food and Drug Administration. And <a href="https://www.insider.com/trump-considers-vaping-ban-on-flavored-e-cigarettes-2019-9">reports</a> of a possible nationwide ban on some e-cigarettes.<a href="https://www.businessinsider.com/juul-timeline-from-startup-to-tobacco-company-challenges-bans-2019-9">Juul</a>, the dominant e-cigarette company, is increasingly in hot water in the US, as state and federal health officials crack down on vaping, citing skyrocketing rates of youth e-cig use and mysterious vaping-related lung illnesses. On Wednesday, Juul brought in a <a href="https://www.businessinsider.com/juul-timeline-from-startup-to-tobacco-company-challenges-bans-2019-9">new CEO</a> with a long track record in tobacco to turn things around.The company said it would halt advertising and some lobbying in the US, and the new CEO, K.C. Crosthwaite, acknowledged the need to address problems including underage use of e-cigarettes."We must strive to work with regulators, policymakers and other stakeholders, and earn the trust of the societies in which we operate," Crosthwaite, a longtime executive at tobacco giant Altria, said in a statement.Amid the US crackdown on vaping, Juul had been looking to expand in nearly two dozen countries, including China and India, according to a Business Insider review of job postings and other public information. The company has raised $14.5 billion to help fuel its growth, including $12.8 billion from tobacco giant Altria, and hit a valuation of $38 billion.China and India have the largest populations of smokers in the world, making them alluring potential markets.But Juul is likely to face challenges expanding internationally, as other countries seek to avoid a repeat of the youth epidemic that the company helped fuel in the US. Already, in China, Juul products have mysteriously vanished from store shelves, <a href="https://www.wsj.com/articles/juuls-sales-halted-in-china-days-after-launch-11568734509">according to the Wall Street Journal</a>. In India, vaping has been banned entirely, the country's Ministry of Health and Family Welfare <a href="https://pib.gov.in/PressReleasePage.aspx?PRID=1585438#">said in a statement</a>.In <a href="https://www.businessinsider.com/juul-timeline-from-startup-to-tobacco-company-challenges-bans-2019-9">banning vaping</a>, India's government cited the need to stop the "impact of e-cigarettes on the youth," <a href="https://www.buzzfeednews.com/article/pranavdixit/a-huge-market-with-millions-of-smokers-just-banned-vapes">according to BuzzFeed News</a>. Five other countries that Juul has targeted for expansion have also put limits on vaping.Juul didn't respond to a request for comment for this story.A recent spate of mysterious <a href="https://www.businessinsider.com/vaping-dangers-health-effects-impacts-e-cigs-2019-8">vaping-related lung illnesses</a> have also cast a shadow over the category, although it's not clear whether Juul is linked to those issues. Separately, <a href="https://www.bloomberg.com/news/articles/2019-08-29/juul-devices-cited-in-seizure-reports-that-triggered-fda-probe">Bloomberg News reported</a> that Juul devices were involved in three reports of seizures tied to vaping.The fresh challenges put Juul in a tough spot. On Tuesday, the <a href="https://www.wsj.com/articles/juul-prepares-staff-restructuring-amid-u-s-crackdown-11569354261">Wall Street Journal reported</a> that Juul may be preparing to restructure and aims to hire less aggressively in the near future as well as potentially cutting some jobs. <h2>Juul has expanded feverishly, and some investors remain confident</h2>In two years, Juul's employee base has ballooned from roughly 225 employees in 2017 to 3,900 today - a 1,633% increase. The company is currently hiring for more than 500 positions across 16 countries. Several investors told Business Insider they're confident that Juul will prevail amid the rising challenges.They believe the pushback against vaping is fueled by confusion and fear, and they expect the crackdowns and bans will disappear or be scaled back as more information emerges."I think Juul is a net public health benefit," said Gregg Smith, the founder and CEO of venture fund Evolution, which backed Juul in 2017. "I'm disappointed today that there are other issues clouding the mission of trying to get people off of cigarettes."Morgan Paxhia, a managing director and CEO of hedge fund Poseidon Asset Management, agreed. His firm first backed Juul when it was still part of vaporizer startup Pax Labs."We've been through hysterias with new categories before," Paxhia said.<h2>Juul may be slowing down as it faces closing doors</h2>Juul's growth spree may be starting to show signs of slowing. The <a href="https://www.wsj.com/articles/juul-prepares-staff-restructuring-amid-u-s-crackdown-11569354261">Wall Street Journal reported</a> this week that Juul is preparing to restructure and aims to hire less aggressively in the near future. Some jobs may be cut, according to the Journal.It is unclear if the moves are a response to the investigations and bans in the US, or to the barriers cropping up internationally.Earlier this month, the US Food and Drug Administration <a href="https://www.businessinsider.com/fda-warns-juul-marketing-ecigs-safe-schools-2019-9">said Juul wrongly painted its devices as safer</a> than cigarettes and marketed them intentionally to kids. The findings were the result of a nationwide investigation begun last spring. An investigation by the Federal Trade Commission into Juul's marketing is also ongoing, and federal prosecutors in California are also <a href="https://www.wsj.com/articles/federal-prosecutors-conducting-criminal-probe-of-juul-11569268759">reportedly</a> conducting a criminal probe.In China, where Juul's refillable nicotine cartridges are manufactured, the company's flavored products were removed from online marketplaces JD.com and Tmall about a week after they first went up for sale, the <a href="https://www.wsj.com/articles/juuls-sales-halted-in-china-days-after-launch-11568734509">Wall Street Journal reported</a>. Juul had long been planning to launch in the country, where more than 300 million people smoke.In this climate, Paxhia said he believes that if confirmed, Juul's decision to restructure is probably a good one. "They can take the time to kind of do a bit of a reset," he said. "If we start to see steps in that direction I'm confident in the long term that we can get through this."<a href="/intelligence/digital-health?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=health&amp;itm_campaign=digital-health-3"></a>Featured Digital Health Articles: - <a href="/telehealth-industry-explained">Telehealth Industry: Benefits, Services &amp; Examples</a> - <a href="/value-based-care-pay-for-performance-healthcare-model">Value-Based Care Model: Pay-for-Performance Healthcare</a> - <a href="/senior-care-market-trends">Senior Care &amp; Assisted Living Market Trends</a> - <a href="/wearable-technology-healthcare-medical-devices">Smart Medical Devices: Wearable Tech in Healthcare</a> - <a href="/artificial-intelligence-healthcare">AI in Healthcare</a> - <a href="/remote-patient-monitoring-industry-explained">Remote Patient Monitoring Industry: Devices &amp; Market Trends</a>

E-cig company Juul raised billions to pursue global domination, but a rash of challenges is raising questions about its strategy

<ul class="summary-list"><li><a href="https://www.businessinsider.com/category/e-cigarette">E-cigarette</a> startup <a href="https://www.businessinsider.com/category/juul">Juul</a> has exploded in popularity since its launch in 2015. The company briefly made its founders billionaires, created a new verb, and resurrected the United States' dying e-cigarette market.</li><li>Juul attracted young users with its sleek design and flavored pods. Soon, Juul was going viral, and memes about "Juuling" were seemingly everywhere.</li><li>Now, the $38 billion company has become the face of the youth vaping crisis and faces Congressional investigations, criticism from the FDA, and a potential nation-wide ban in the US.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>Following is a transcript of the video.Irene Kim: You've heard of Juul.It's the highest-selling and fastest-growing e-cigarette on the market. In 2017, it generated $224 million in revenue. In 2018? $1 billion.And, as of February 2019, the company was expecting to triple its revenue. Juul briefly made its founders billionaires, created a new verb, and resurrected the United States' once dying e-cigarette market.But what was once Silicon Valley's $38 billion darling now faces Congressional investigations, criticism by the Food and Drug Administration, and potential bans in entire countries, including the US. But how did a product designed to help adult smokers quit become the face of the youth vaping crisis? And what exactly is next for Juul?Since launching in June 2015 with a party in New York City and a youth-oriented media campaign, Juul has dominated the e-cigarette market. How did it get so popular in the first place?It starts with the design. Because Juul marketed itself as a way for adult smokers to quit, its product couldn't remind people of a cigarette. So Juuls ended up looking more like something you'd stick in a computer than something you'd smoke. With its sleek design, it was much more discreet than a traditional e-cigarette. But its discreet look also made it easy for young users to hide their Juuls from parents and teachers.And its nicotine pods came in tasty flavors like mango, cool mint, fruit medley, and crème brûlée. Juul quickly became popular with young consumers. At some point, "Juuling" even became a verb. For many, "Juuling" became synonymous with vaping. And soon, memes about "Juuling" were seemingly everywhere.Chidum Okeke: I began seeing a lot of Juul-related tweets about two years ago, which was, like, in 2017, when I was a senior in high school.Kim: Chidum Okeke doesn't use a Juul, but his tweets about using Juuls have gone a bit viral.Okeke: It was basically saying how, like, it's August, like, we're about to go back to school. Hell is about to arrive. Milly that rock, hit that Juul. And then, next thing you know, I had 100,000 likes and retweets just because it was, like, so relatable. Like, it was the cool thing, right? It was in.Kim: Juuls became a growing part of young people's social identities. Researchers at Tobacco Control found that most Juul-related Instagram posts reinforce "a characteristic of cultural or social identity." And while Juul says its products are marketed to adult smokers, a study published by JAMA Pediatrics found that most of Juul's Twitter followers are underage. Juul's early social-media presence and marketing strategy would later come back to haunt it, but we'll get to that in a bit.In the meantime, Juul's sales numbers only continued to explode. By 2017, it had claimed over a third of the e-cigarette market, generating $224 million in revenue. By November of that year, Juul was the best-selling e-cigarette on the market. However, as Juul's business continued to grow, so did the scrutiny on it. In the fall of 2017, teen vaping became a national story. News outlets across the country reported that high-school students were using Juuls in class or on school property.Amid the outrage, the FDA launched an undercover crackdown of Juul sales to minors. The FDA called it the "largest coordinated enforcement effort" in agency history and issued more than 1,300 warning letters and fines to retailers for illegally selling Juuls and other e-cigarette products to minors. Later that August, the agency surprised Juul at its headquarters to seize thousands of pages of documents, which revealed the FDA was officially investigating whether Juul marketed its products to teens.And in response to reports of a 78% increase in vaping among American high-school students, the FDA announced plans to curb flavored-e-cigarette sales. Around this time, the Federal Trading Commission also began investigating whether Juul marketed its products to minors.But despite the controversies, Juul's sales continued to rise. In fact, Juul was bigger than ever. Altria, the parent company of multiple big tobacco brands, purchased a 35% stake in Juul for $12.8 billion, which valued Juul at $38 billion and made Juul's cofounders billionaires. The company hit $1 billion in revenue that same year, continuing its seemingly unstoppable growth.However, things were about to get a lot worse. In April 2019, Democrats in the US Senate launched an investigation into Juul's social media and advertising practices along with its billion-dollar deal with Altria. Just two months later, the US House of Representatives announced its own investigation into Juul.Meanwhile, Juul Labs CEO Kevin Burns publicly apologized in a CNBC documentary to parents of teens who are addicted to Juul products.Kevin Burns: First of all, I'd tell them that I'm sorry that their child's using the product. It's not intended for them.Kim: Things snowballed in late July, when the first reports of vaping-related lung illness emerged.Erin Brodwin: So, there have been thousands of vaping-related illnesses related to e-cigarettes in recent months. The reason Juul is implicated or involved in these illnesses is because several of the case reports involve people saying that they used Juuls when they got sick.The problem with that is that Juuls, as, you know, the most dominant and most popular e-cigarette on the market, there are a lot of counterfeit products that are labeled Juul when in fact they actually are not. So, in addition to that, people, rather than saying that they're vaping, they actually use the word Juul as a verb and say that they're "Juuling." They could have been using a different device and then just, you know, said they were "Juuling," and what, you know, CDC investigators write down is they were using a Juul.Kim: Juul's popularity began to work against it. By being synonymous with vaping, it finds itself embroiled in a multitude of different vaping-related incidents. In response, the company has attempted to be proactive about addressing the controversies around vaping.In August, Juul's CEO publicly asked nonsmokers not to use Juul, telling CBS:Burns: Don't vape. Don't use Juul.Kim: Burns even brought up that the long-term health effects of vaping remain unknown. A majority of the vaping-related lung illness cases have been linked back to black-market products containing THC, the psychoactive ingredient in cannabis. However, some of the cases do involve people who said they used nicotine-only products, and still others said they used both nicotine and marijuana products.All this has made figuring out the cause behind the outbreaks very difficult. By September, the CDC and FDA reported that there were 530 cases of illness related to vaping. Although neither organization has been able to find a clear culprit, Juul continues to fall under scrutiny.And the company's global expansion has come to a screeching halt. In the US, President Donald Trump recently announced his intention to ban flavored e-cigarettes.Donald Trump: People are dying with vaping.Kim: Amidst these crackdowns, the FDA issued the company an official warning for its marketing practices. There's a growing concern over what medical experts are calling the "youth nicotine epidemic."Brodwin: I've talked to several experts about this, and most people in public health agree that the people in Juul's advertisements from 2016 and 2017, I believe, looked underage.I think the very first error that Juul made in judgment was creating these advertisements that clearly include people who look very, very young, advertising its devices as cool, using taglines like, quote, unquote, "smoking evolved," picturing them on flashy, very colorful backgrounds. And then at events, giving them away either for free or for, you know, a dollar or $2.Because, right there, you have the potential to create a desire among young people who maybe otherwise would never have thought about smoking, vaping, or using an addictive drug like nicotine. You suddenly have this opportunity for them to be interested in this new, novel, seemingly cool, very discreet product.Kim: When asked if its early marketing targeted underage users or nonsmokers, Juul told Business Insider that, "We have never marketed to youth and we never will. ... Nonetheless, we recognize how that campaign was perceived. ... Our recent marketing efforts exclusively featured adult smokers who shared their personal experiences about switching to Juul products from combustible cigarettes."Because of the controversy over Juul's marketing practices and the growing wave of vaping-related illnesses, Burns stepped down in late September and was replaced with longtime tobacco executive K.C. Crosthwaite.Juul announced plans to suspend advertising in the US, as well as some lobbying efforts. But for some, that wasn't enough.In October 2019, school districts across the US launched lawsuits against Juul.Brodwin: They're saying that Juul created what they call a, quote, unquote, "public nuisance" by having its devices not only be distracting for young people on school campuses but also potentially endangering their health and safety.Kim: The company says that the lawsuits have no merit. So, what's next?Brodwin: Juul is going to have two big things that it needs to prove. First, it's going to have to prove that it did not intentionally or unintentionally hook an entire generation of young people on nicotine who otherwise would not have smoked or interacted with nicotine, an addictive drug, in any way. It's also going to have to prove that its devices could help hundreds of thousands of adults who smoke quit smoking and start vaping instead.Kim: And don't forget, Juul is owned by Altria. It's one of the world's biggest tobacco companies, with brands that are more than 170 years old and a reputation for resilience. It's not likely to let its billion-dollar investment and 35% stake in Juul go up in smoke.Juul spent $3 million in the first half of 2019 lobbying Congress and federal regulators. And there's a reason Juul replaced its CEO. While former CEO Burns worked as chief operating officer for yogurt-maker Chobani, his replacement comes from Altria. Crosthwaite's years of experience in Big Tobacco means he's used to working with regulators, which will come in handy now that Juul has to submit its products for FDA regulation, something it's hasn't done until now.Brodwin: Thanks to some legislation that was put in place several years ago and then delayed, Juul was able to get its products on the market without any sort of FDA sign-off required.Kim: Now, Juul will need to get FDA approval by 2022 to stay on the market. But will the company avoid even harsher regulations, like Trump's potential ban on flavored pods?Brodwin: My opinion on this is, and this is my opinion, so take it with a grain of salt, but I don't think wide-scale bans on flavored e-cigarettes are going to succeed, at least on a national level. If they do, it could spell kind of the destruction of the e-cigarette industry.Kim: Many analysts say it isn't likely that there will be enough support to pass a nationwide ban. At the very least, a nationwide ban isn't likely to happen for a few years, according to analysts at Stifel.A ban could also hurt more people than it helps. Public health professionals say that a widespread ban could create an unregulated black market, which could be much more dangerous. The answer could be regulation, both from the government and from companies themselves. Which is something Juul is already doing.Back in 2018, it kept 55 new flavors it had designed off the market. Flavors like mimosa, strawberry limoncello, Thai tea, and spicy watermelon. Although all 55 were registered with the FDA, the controversy surrounding Juul and underage use reportedly made the company hesitate.In November 2018, Juul restricted sales of its flavored pods to its website. And in August 2019, the company announced that it had developed a new system meant to prevent sales to minors and pledged $100 million to help retailers install it.Later, in October, Juul withdrew support of an initiative in San Francisco to overturn the city's ban on e-cigarette sales, the same ban it previously spent $11 million lobbying against. A few weeks later, Juul suspended all sales of its fruit-flavored pods.But whether any of this will be enough to help Juul turn things around, only time will tell.<a href="/intelligence/digital-health?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=health&amp;itm_campaign=digital-health-3"></a>Featured Digital Health Articles: - <a href="/telehealth-industry-explained">Telehealth Industry: Benefits, Services &amp; Examples</a> - <a href="/value-based-care-pay-for-performance-healthcare-model">Value-Based Care Model: Pay-for-Performance Healthcare</a> - <a href="/senior-care-market-trends">Senior Care &amp; Assisted Living Market Trends</a> - <a href="/wearable-technology-healthcare-medical-devices">Smart Medical Devices: Wearable Tech in Healthcare</a> - <a href="/artificial-intelligence-healthcare">AI in Healthcare</a> - <a href="/remote-patient-monitoring-industry-explained">Remote Patient Monitoring Industry: Devices &amp; Market Trends</a>

How Juul went from a $38 billion darling to uncertain future and FDA investigation

Stocks finished the day higher on Monday but not after an eventful day that saw the market get bounced around as junk bonds got hammered for the second straight day.First, the scoreboard:<ul><li>Dow: 17,371, +105, (+0.6%)</li><li>S&amp;P 500: 2,203, +11, (+0.6%)</li><li>Nasdaq: 4,952, +18, (+0.4%)</li></ul>And now, the top stories on Monday:<ol><li>The biggest merger on Monday <a href="http://www.businessinsider.com/r-newell-rubbermaid-to-buy-jarden-corp-2015-12">was news that Newell Rubbermaid</a>, which makes markers and Sharpies, would acquire Jarden Corp., which owns a variety of home goods products including Sunbeam kitchen appliances and Yankee Candle. The deal valued Jarden at $13.2 billion and sent shares of Newell down about 6% while Jarden rallied 2%. </li><li>Just as US investors were rolling into the office West Texas Intermediate crude oil futures hit a new seven-year low, breaking below $35 a barrel for the first time since December 2008 before rallying later in the day to settle closer to $36. </li><li>And as oil prices continue to get hammered so too does high-yield debt, particularly from energy-related companies, with <a href="http://www.businessinsider.com/goldman-high-yield-junk-bond-recession-2015-12">Goldman Sachs warning in a note to clients</a> that 2015 could be the worst year for junk bonds to occur outside of recession. This commentary was just one part of what has been a series of downbeat commentary and general investor anxiety coming emanating from the junk bond space.</li><li>Elsewhere in junk bonds, the CEO of Third Avenue Management, David Barse, <a href="http://www.businessinsider.com/third-avenue-ceo-reportedly-departed-2015-12">left the firm</a> after its Focused Credit Fund told investors it would bar redemptions and begin a liquidation of the distressed credit fund. Headlines from Bloomberg on Monday afternoon said the SEC was on site at Third Avenue's offices and was "closely" monitoring the situation. In a note to investors following the concerning news out of Third Avenue late last week, <a href="http://driehauscapitalmanagement.com/pdf/funds/Our-Thoughts-on-the-Third-Avenue-Focused-Credit-Fund-Closure.pdf">K.C. Nelson at Driehaus Capital Management said</a>, "I speculate that this is more of a one-time event, as opposed to an early warning sign of doom to come in the credit markets. While segments of the high yield market have gotten crushed recently, this closure was more of a fund-specific issue."</li><li>As for what had investors worried over the weekend (perhaps!), late Friday Jeff Gundlach at DoubleLine Capital <a href="http://www.reuters.com/article/us-investing-gundlach-idUSKBN0TU2MC20151211">told Reuters' Jennifer Ablan</a> that while there's particular worry about energy-related junk debt, "There's never just one cockroach" during a credit meltdown. Earlier last week Gundlach <a href="http://www.businessinsider.com/jeff-gundlach-on-fed-rate-hike-environment-2015-12">made similar comments</a> about how he doesn't care for analysis that explains away the precipitous decline in junk debt because it is limited to the energy sector. </li><li>Speaking of weekend reading, <a href="http://www.businessinsider.com/barrons-2016-stock-market-outlook-2015-12">Barron's published</a> its annual year-ahead outlook this weekend and couldn't find any stock market strategists calling for a decline in stocks in 2016. Strategists Barron's spoke to had a median forecast for the S&amp;P 500 to rise about 10% to 2,220 at the end of next year, just slightly ahead of the 2,205 expected by <a href="http://www.businessinsider.com/wall-street-2016-stock-market-forecasts-2015-11">strategists tracked by Business Insider</a>.</li><li>There is <a href="http://www.businessinsider.com/eric-jackson-slams-yahoo-for-polyvore-acquisition-2015-12">more drama at Yahoo</a>, naturally. Late Sunday, Eric Jackson, a managing director at SpringOwl, <a href="http://www.businessinsider.com/yahoo-shareholder-presentation-2015-12">published a 99-page presentation</a> arguing that Yahoo needs to replace CEO Marissa Mayer, replace most of the board, and try to turnaround the company under its existing structure. Last week, Yahoo <a href="http://www.businessinsider.com/yahoo-will-reportedly-not-move-forward-with-alibaba-spinoff-2015-12">announced</a> that it would halt plans to spin off its holding in Alibaba, the Chinese e-commerce giant, after concerns arose regarding the company's previously-anticipated tax-free treatment for the plan. As a result, reports began circulating that Yahoo's "core" (which in this context is a euphemism for "actual") business was on the block and could prove attractive to strategic media buyers like Verizon or the usual list of private equity buyers. This plan is more or less what was argued by Starboard Value's Jeff Smith in a letter to the board sent a few weeks ago. And so now Jackson, one of Yahoo's most vocal shareholders, wants to have his say. </li><li>GoPro <a href="http://www.businessinsider.com/morgan-stanley-downgrades-gopro-2015-12">crashed on Monday</a>. Shares of the wearable camera maker fell 10% to an all-time low of around $17.20 per share after analysts at Morgan Stanley basically threw in the towel on GoPro, writing in a note that it seems like customers don't want GoPro's latest product offering and retailers don't want to sell it. </li><li>All of this of course is ignoring the elephant in the financial market room: the Federal Reserve. On Tuesday the Fed will kick off its two-day Federal Open Market Committee meeting which will culminate in the 2:00 p.m. ET statement from the FOMC wherein the Fed is widely expected to announce an increase in its benchmark interest rate for the first time in over nine years. Currently, the Fed targets an effective rate inside a range of 0%-0.25% and the expected policy change will bring the floor of this corridor to 0.25% with the ceiling coming in at 0.50%. This should leave the effective rate at around 0.37% - currently the effective Fed Funds rate is around 0.13% - but this is a brave new world for monetary policy almost no matter what happens on Wednesday.</li></ol>Don't Miss: <a href="http://www.businessinsider.com/fed-misunderstood-rate-hikes-effect-on-markets-2015-12">One top JP Morgan strategists thinks the Fed has 'misunderstood a rate hike's effect on markets' »</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/ian-bremmer-oil-prices-low-energy-eurasia-group-2015-12">Ian Bremmer: Angela Merkel is going to have a bad 2016</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="w2NThneTrW_N2Dl_B5BIX9tKrXB1cdoT" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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