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Luxury car maker <keyword id="19980471" type="General" weightage="20" keywordseo="Mercedes-Benz" source="keywords" meta.keywordsubtype="org" meta.entityname="Mercedes-Benz" meta.hostid="261" meta.entityid="Mercedes-Benz">Mercedes-Benz</keyword> India on Monday expanded its <keyword id="20763359" type="General" weightage="20" keywordseo="Battery-Electric-Vehicle" source="keywords">Battery Electric Vehicle</keyword> (BEV) range in the country with the launch of the locally produced <keyword id="23188212" type="General" weightage="20" keywordseo="EQS-580-4MATIC" source="keywords">EQS 580 4MATIC</keyword>. India is the first country outside the US to start the <keyword id="20805504" type="General" weightage="20" keywordseo="local-production" source="keywords">local production</keyword> of the seven-seater electric SUV. EQS SUV 580 4MATIC is the second model, after the EQS sedan, to be locally produced at company's Pune-based manufacturing plant. "This will be our sixth EV in India, and the second car to be locally produced in India. We are also proud that India becomes the first market out of the US to locally manufacture the EQS," Mercedes-Benz India Managing Director and CEO Santosh Iyer told PTI in an interaction. The move to manufacture the product locally outlines the company's commitment to electrification and increasing product portfolio offering choices to customers, he added. "EQS SUV's localisation underpins our deep commitment to grow the Indian <keyword id="23188213" type="General" weightage="20" keywordseo="luxury-electric-car" source="keywords">luxury electric car</keyword> market and reinforce our commitment for a greener and sustainable future," Iyer said. The move also supports the government's vision of Make-in-India, he said. Iyer said local production has led to a significant advantage in terms of pricing the electric SUV. The introductory price of EQS SUV 580 4MATIC starts at Rs 1.41 crore which should also make a lot of customers shift to EVs much faster in terms of transition, he said. When asked about the demand for green vehicles, Iyer said the sales of EVs were growing in the country with even high-end products finding acceptance. "The EQA sedan which was introduced in India around 18 months back, we have sold more than 500 cars. It's a car costing more than Rs 1.6 crore. Our total penetration of EVs is 5 per cent today, it's growing. For sure, customer acceptance is there," he stated. Iyer noted that the company remains committed to offer top-end luxury EV products offering higher range in the market. He noted that there may be more opportunities in the entry EV segment but the focus of the company firmly remains on bringing luxury products in the market. "To bring products at lower price points, that is not our current strategy," Iyer said. The company aims to offer products with higher driving range, a factor that leads to bigger battery and escalation in price, he added. The EQS SUV 580 4MATIC is India's longest range electric SUV with ARAI certified range of 809 kms. Iyer said the company remains committed to the Indian market and has announced an additional investment of Rs 200 crore earlier towards manufacturing operations, new product start-ups and digitisation of manufacturing processes. The company till date has invested over Rs 3,000 crore in India, he added. In the January-September period this year, Mercedes-Benz India has launched three new BEVs ' EQA, EQS SUV 580 and Mercedes-Maybach EQS 680 SUV. With the EQS SUV 580 4MATIC, the company now offers the EQA, EQB, EQE SUV, EQS SUV, EQS sedan and Maybach EQS SUV 680 in the market. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/arkade-developers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113384216.cms">Arkade Developers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-and-samsung-accused-of-colluding-with-amazon-and-flipkart/articleshow/113381204.cms">Xiaomi and Samsung accused of colluding with Amazon and Flipkart</a> <a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-neo-with-dimensity-7300-50mp-camera-launched-in-india/articleshow/113386868.cms">Motorola Edge 50 Neo with Dimensity 7300, 50MP camera launched in India</a>

Mercedes expands BEV range; rolls out second locally produced model in India

<ul><li><keyword id="19920097" type="General" weightage="20" keywordseo="Karwa-Chauth" source="keywords">Karwa Chauth</keyword> is set to add ₹22,000 crore worth of business to the <keyword id="19948184" type="General" weightage="20" keywordseo="Indian-economy" source="keywords">Indian economy</keyword>.</li><li>This year's spending is expected to surpass last year's ₹15,000 crore mark.</li><li>Karwa Chauth will be celebrated across India on Sunday.</li></ul>Deeply rooted in Indian culture and spirituality, the festival of Karwa Chauth has grown into a significant economic event, with an estimated ₹22,000 crore worth of business anticipated in markets nationwide. The traditional festival will be celebrated across India on Sunday, marking a day of fasting and prayer for the well-being and longevity of spouses. This year's spending is expected to surpass last year's ₹15,000 crore mark, reflecting a surge in enthusiasm and <keyword id="23410660" type="General" weightage="20" keywordseo="consumer-activity" source="keywords">consumer activity</keyword>. Over the past week, markets across the country have witnessed a lively atmosphere, with bustling crowds shopping for clothing, jewellery, cosmetics, gift items, and puja essentials in preparation for the occasion. Delhi, one of the central hubs for the festivities, is expected to contribute significantly to this economic boom, with sales projected to reach approximately ₹4,000 crore. The shopping spree spans a variety of items associated with Karwa Chauth, including jewellery, traditional clothing, makeup products, sarees, and religious items like Karwa pots, sieves, lamps, wicks, and prayer books. In addition, red glass bangles, anklets, toe rings, lockets, and intricately designed Karwa thalis are among the popular items being purchased. This year, silver Karwas have also been introduced to the market, and they are expected to be in high demand. Henna (mehendi) application, considered auspicious for the festival, has also seen a surge in popularity, with markets, temples, and public places filled with women lining up to get their hands decorated. In Delhi, Connaught Place's Hanuman Temple has become a prominent spot where thousands gather for mehendi, while beauty parlours and private mehendi sessions are booked solid. Henna artists find a valuable opportunity to earn a livelihood during this period. Karwa Chauth not only boosts retail activity but also sets the stage for the upcoming <keyword id="19896655" type="General" weightage="20" keywordseo="wedding-season" source="keywords">wedding season</keyword>, with many shoppers placing orders for <keyword id="20242079" type="General" weightage="20" keywordseo="gold-jewellery" source="keywords">gold jewellery</keyword>. The wedding season, commencing in November, traditionally sees a rise in bookings for bridal jewellery, and the festival serves as an early catalyst for these purchases. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms">Best credit cards for online shopping this festive season</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india-in-october-2024/slidelist/114339207.cms">Best smartphones under ₹25,000 in India in October 2024</a> <a href="https://www.businessinsider.in/stock-market/webstories/waaree-energies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114350114.cms">Waaree Energies IPO – Price band to risk factors, all you need to know</a>

Karwa Chauth festivities to boost economy by ₹22,000 crore

<ul class="summary-list"><li>Now in <keyword id="19896940" type="General" weightage="20" keywordseo="Walmart" source="keywords" meta.keywordsubtype="org" meta.entityname="Walmart" meta.hostid="261" meta.entityid="Walmart">Walmart</keyword> aisles: a <keyword id="23944922" type="General" weightage="100" keywordseo="Skibidi-Toilet-action-figure" source="keywords">Skibidi Toilet action figure</keyword> — a $45 mystery toilet bowl.</li><li>The head of brands for toilet-maker <keyword id="23944923" type="General" weightage="20" keywordseo="Bonkers-Toys" source="keywords" meta.keywordsubtype="org" meta.entityname="Bonkers Toys" meta.hostid="261" meta.entityid="Bonkers Toys">Bonkers Toys</keyword> says it's selling well.</li></ul>Recently at my local Walmart, I saw a massive display in the main aisle of the toy section: It featured a plastic toilet, about a foot tall, with a ghoulish head sticking out. For $44.95, I could be the proud owner of the <a target="_blank" class="c-link c-link--underline" href="https://www.businessinsider.com/skibidi-toilet-is-good-actually-2023-10">Skibidi Toilet</a> — complete with <keyword id="23944930" type="General" weightage="20" keywordseo="toilet-themed-toys" source="keywords">toilet-themed toys</keyword> in the bowl. And in case you were wondering: Yes, it makes a flushing noise. If you've spent any time lately around someone who isn't old enough to drive, you've probably heard some utterance of the word "skibidi." I'll spare you the full summary of the <a href="https://www.businessinsider.com/skibidi-toilet-gen-z-alpha-memes-internet-culture-outdated-old-2023-7" target="_blank">Gen Alpha meme</a>, but the short form is: It's a YouTube series about a dystopian battle of good and evil (the toilet guys are the villains). My colleague Lindsay Dodgson <a href="https://www.businessinsider.com/skibidi-toilet-is-good-actually-2023-10" target="_blank">describes</a> it as "part 'Terminator,' part 'Bladerunner,' and obviously, part toilets." She says the series is actually good. What's interesting to me is that this absurd toilet meme appears to be doing a robust business in the toy aisle of your local discount store. I spoke with Dan Meyer, head of brands at Bonkers Toys, the company behind the flush. "Right away we noticed that it was exploding," Meyer said of the skibidi phenomenon online. Bonkers made a licensing deal and started pitching vendors on the toilet toy — an easy sell, he said. Bonkers started making prototypes of the toilet toy in early 2024 — and it's hit the shelves in time for the holiday season, a tight timeline. "When we're pitching it to [retailers], we had enough data to see that in middle schools and elementary schools, the term skibidi was already a thing," Meyer said. Bonkers could point to the YouTube views the Skibidi Toilet series had racked up — its channel has more than 40 million followers — or how if they searched Instagram, they'd find "hundreds and hundreds" of people dressed in homemade Skibidi Toilet costumes. Bonkers Toys, founded in 2017 in San Diego, has carved a niche for itself by licensing intellectual property from YouTube creators. Its first big toy was the giant "mystery egg" toy for Ryan's World. At the time, Ryan's World was one of the top channels on YouTube, a pioneer in the genre of "little kid opening toys." <div type="image" title="skibidi toilet toys" height="3000" width="3000" msid="115096128" hostid="261"></div>Bonkers' move into memes is in line with what retailers are trying to achieve, Blake Droesch, a senior retail analyst with BI sister company Emarketer, told me. He said big box stores like Walmart are trying to respond quickly to online trends, especially for toys. They need to move fast to compete with viral shopping on the likes of <a target="_blank" class="" href="https://www.businessinsider.com/why-gen-x-boomers-love-temu-2024-1">Temu</a>. "This environment has certainly created demand for manufacturers who can produce fast and cheap products that will serve this growing market," he said. "It's no different than fast fashion, but for toys. They respond quickly to viral moments and get products on the shelves while the trend is still hot." The original Skibidi Toilet was the creation of animator Alexey Gerasimov, who made it for his YouTube channel DaFuq!?Boom!, which has 44.3 million subscribers. Gerasimov has partnered with Invisible Narratives, a companyfounded by Adam Goodman, the former president of DreamWorks SKG and Paramount Pictures who works with YouTube creators to help them make the jump to more traditional media, like movies and TV. It also helps them with licensing their brands for merchandise, like Skibidi's deal with Bonkers. Merchandising, like with the toys from Bonkers Toys, is crucial to success for these new media brands, he said. "We believe that young people don't want to pay for content anymore," Goodman told Business Insider. "Their parents pay for subscriptions, and the don't really go to movies the way that they used to — but they like buying stuff." Skibidi Toilet is certainly not the first YouTube creation to enter into consumer merchandise. <a target="_blank" class="" href="https://www.businessinsider.com/how-mrbeast-pitches-brands-sponsorship-deals-jimmy-donaldson-youtube-2024-10">MrBeast</a> sells chocolates and premade lunches along with Logan Paul and KSI, who make the popular drink Prime. <div type="image" title="Skibidit toilet plush toy" height="3000" width="3000" msid="115096131" hostid="261"></div>Meyer wouldn't provide numbers on how many toilets they've sold, but so far, things are looking promising, he said. He said Bonkers' launch of a LankyBox-themed product about three years ago — which was another product centered on a YouTube creator — was one of the "biggest, most successful-selling brands in the boys' action aisle" at discounters, including Walmart. He said the Skibidi Toilet was outselling LankyBox by around double. (Walmart didn't respond to requests for comment on sales numbers.) Right now, there are only a few Skibidi Toilet-theme products from Bonkers: individual action figures, mini-figures, plushes (aw, cute), and the aforementioned "mystery" toilet, which includes stickers, minifigures, and lanyards. But there will be more products for next year, Meyer said — including what every little boy and girl dreams of getting from Santa: a remote-controlled toilet bowl. Correction: November 8, 2024 — In the Skibidi Toilet YouTube series, the toilet guys are the bad guys, not the good guys.

Dear Santa: Please bring me a Skibidi Toilet for Christmas

<keyword id="20359078" type="General" weightage="20" keywordseo="newspapers" source="keywords">Newspapers</keyword> were rated as the most <keyword id="22860926" type="General" weightage="20" keywordseo="credible-news-source" source="keywords">credible news source</keyword>, not only for older but younger <keyword id="22860927" type="General" weightage="20" keywordseo="readers" source="keywords">readers</keyword> too, according to a study by Humanify, a technology-based research platform. Older aged respondents, gave higher scores to newspapers, citing concerns around fake news and conspiracy theories on internet and social media channels, while as many as half the younger readers, (aged less than 30 years), also favoured newspapers even over channels such as TV, social media and websites as sources of news. While findings seem to underscore enduring trust in traditional media even in the digital age, the study which was conducted on Humanify's app, also showed high preference on receiving the news digitally. Of the total readers, 84.1% reporting a good preference for the digital format, also reflected by the older (&gt;30 years) readers. The top reason for preference of a digital delivery was convenience, with 93.2% scoring the digital format high on convenience. Top reasons for this were easy access to digital media, especially news consumption out of home and while commuting. Interestingly, there were also mentions around how a digital medium would be more sustainable and planet friendly than newspaper prints, reflecting an emerging concern for the planet and <keyword id="20224417" type="General" weightage="20" keywordseo="sustainable-living" source="keywords">sustainable living</keyword>. "While the preference for digital delivery is expected, it's heartening to see that legacy newspapers can still find relevance even with younger readers, by adapting to digital formats," said Geetika Kambli, Founder at Humanify. "The study was run on Humanify's app, capturing conversations by readers around their preferred reading habits, and using AI to convert this unstructured data into a research report in minutes. AI is redefining the way we experience products and express our feelings about them. If we choose to use it well, it can give us the transparency we need, around how we read and decode insights," says Geetika. The report also noted that readers appreciated <keyword id="22860929" type="General" weightage="20" keywordseo="local-news-coverage" source="keywords">local news coverage</keyword>, indicating an emerging trend towards localisation and customisation in news consumption. The study was run on a sample of randomly selected readers based in Mumbai. Respondents were approached across ages 18-50, and across genders. All readers were interviewed to confirm their readership preferences, and with their consent, their conversations around the readership experience were captured and decoded using Artificial Intelligence in the Humanify app. Humanify is an AI company that owns the research-tech platform Explorastory, a sense making AI platform that translates real human behaviour from videos, conversations and surveys, into user research reports designed for product and marketing teams, in minutes. They also note that all survey results may be subject to potential biases, despite best efforts to minimise them.

Newspapers are still the most credible news source, but readers prefer to receive news digitally, reports an AI-based research app

Ingolstadt, Luxury automaker <keyword id="19911529" type="General" weightage="20" keywordseo="audi" source="keywords">Audi</keyword> India is looking to commence local assembly of electric vehicles, a move which would help it roll out models at an affordable price helping expand its customer base in the country. The automaker currently imports its entire EV range comprising Q8 50 e-tron, Q8 55 e-tron, Q8 <keyword id="21011482" type="General" weightage="20" keywordseo="sportback" source="keywords">Sportback</keyword> 50 e-tron, Q8 Sportback 55 e-tron, e-tron GT, and RS e-tron GT, into the country. It, however, assembles petrol models like Q3, Q3 Sportback, Q5, Q7, A4, and A6 at its Aurangabad (Maharashtra) based manufacturing plant. In an interaction with PTI here, Audi India Head Balbir <keyword id="20078416" type="General" weightage="20" keywordseo="singh-dhillon" source="keywords">Singh Dhillon</keyword> said the local manufacturing of EVs is a work in progress with active discussions going on with its global headquarters. "We are working with Audi AG very positively and hopefully at some point in time we will be able to announce this (local assembly of EV models)," he noted. When asked about the expected timeline of commencing the process, Dhillon did not share any specific date but stated that the India unit is discussing the matter with the global headquarters very "positively". "Hopefully we should have some solution at some point in time. That is the time when you can reach even more (set of customers) because then you will get the best advantage in terms of price point," he said. He further said, "I think the next 2-3 years will be very crucial (2024-2026). These years will see many more new electric cars coming at different price points. Then I think our reach to our existing customers or first-time buyers will go up." The company's current EV model lineup is priced over Rs 1 crore thus serving a very niche set of customers. Currently, cars imported into India as Completely Built Units (CBUs) attract customs duty ranging from 60 per cent to 100 per cent. The country's customs duty system treats electric cars and hydrocarbon-powered vehicles equally, imposing significant tariffs to encourage domestic manufacturing. Audi, globally, is looking to introduce multiple electric models in the next 2-3 years many of which would also come to India thus helping the Indian operations to choose which ones to localise. In order to rev up sales volume, Audi India would look out for models which sit below the current range in price terms. The company currently gets around 2 per cent of its total sales from EVs. It reported 89 per cent growth in retail sales in India at 7,931 units last year as compared with a total of 4,187 units in 2022. Audi on Monday evening globally premiered the Q6 e-tron, a new EV model which would sit below the Q8 e-tron range. To be manufactured at the company's Ingolstadt plant, the model is expected to roll out in various markets globally this year. It is also expected to make its way to Indian shores early next year. Dhillon said the model would help in widening the company's customer base in India. "That's the expectation that our penetration in electric mobility should go up with this model (Q6 e-tron)," he noted. Audi expects 50 per cent of its sales in India to come from electric vehicles by 2030. Globally, Audi has decided to become a fully electric vehicle manufacturer from 2033 onwards. The Q6 e-tron is the first production model on the company's <keyword id="21011483" type="General" weightage="20" keywordseo="premium-platform-electric" source="keywords">Premium Platform Electric</keyword> (<keyword id="19989989" type="General" weightage="20" keywordseo="ppe" source="keywords">PPE</keyword>), marking the next step in the company's transformation into a provider of premium electric mobility. The electric SUV will be available to order from this month with deliveries expected to customers in the third quarter of 2024. The Q6 e-tron comes with a range of up to 625 kms. "The PPE shows how we are pooling expertise within the <keyword id="20139313" type="General" weightage="20" keywordseo="volkswagen-group" source="keywords">Volkswagen Group</keyword> and thus making electric mobility scalable," Audi AG Chairman of the Board of Management Gernot Dollner said. Thanks to the PPE, the company is able to launch high-volume models with high technical standards in different segments, he added.

Local production of EVs a work in progress: Audi India Head

<ul><li><keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">Electric vehicles</keyword> (EVs) are gaining popularity worldwide</li><li>However, concerns remain about their environmental impact</li><li> <keyword id="21881868" type="General" weightage="20" keywordseo="alternative-fuel" source="keywords">Alternative fuel</keyword> vehicles like hydrogen fuel cells and biofuels are some more alternatives we can tap into</li></ul> Electric vehicles or EVs are in their prime right now, with the demand crossing an all-time high. A trend noticeable around the world, EVs are not only becoming increasingly popular but also fairly affordable. Slowly but surely EVs are overcoming the challenges that crossed them — design, features, safety, and most importantly range. A major credit to this trend can be given to consumer acceptance, policy backing, and improving infrastructure. However, there is a downside to EVs as well. Having featured multiple EVs with our series<a href="https://www.youtube.com/watch?v=TCR3PaYxcmk&amp;t=1s" data-type="tilCustomLink" target="_blank"> Short Spin, </a>I developed a strong reference point. This made me wonder why are we so heavily reliant on them. Over its life cycle, EVs cannot be termed as particularly environmentally friendly, which has been their main selling point over the past few decades. <h2>The ‘Red’ side of EVs</h2> There is a bit of red within the go-green agenda that EV manufacturers push. EVs as a whole do come with benefits like low maintenance, improved efficiency and ultimately lower fuel emissions. However, <keyword id="21357488" type="General" weightage="100" keywordseo="EV-production" source="keywords">EV production</keyword> and disposal can have detrimental effects on the natural environment. Here are some socio-ecological concerns over EVs: 1. High carbon footprint in battery production: EV battery production is energy-intensive and often relies on electricity from fossil fuels, leading to a high initial carbon footprint. This is elaborated in a story recently published by Earth Org. 2. Resource constraints and ethical concerns: Particularly with the extensive mining of cobalt and other minerals for EVs, there has been a global outcry. Limited availability of critical minerals like lithium, cobalt, and nickel, shady mining practices long work hours, unsafe work environments, and use of child labour in underdeveloped parts of the world have raised several ethical issues around the sustainability of EVs. This issue can be explored further in this essay by Al Jazeera. 3. Recycling and end-of-life challenges: EV battery recycling is currently inefficient, costly, and poses significant environmental risks, with a huge amount of batteries ending up in landfills. 4. Manufacturing costs and economic barriers: High production costs, especially for batteries, make EVs more expensive than conventional vehicles and require significant investments in new manufacturing facilities and supply chains. 5. Supply chain and geopolitical risks: Critical mineral resources necessary for EV production are concentrated in a few countries. This leads to vulnerabilities in the complex supply chain and often risks disruptions due to geopolitical tensions, trade conflicts, or natural disasters. China as of today controls 83% of EV battery production in the world, with a major stronghold on the supply chain. While I am in no way suggesting to drop out of EVs, I believe sticking to just one alternative risks replicating the same mistake we did for ICE vehicles. So, what are the alternatives? <h2>The alternates fuel vehicles (<keyword id="23193800" type="General" weightage="20" keywordseo="AFVs" source="keywords">AFVs</keyword>)</h2> AFVs are a growing segment of the automotive industry that utilize fuels other than traditional gasoline or diesel. These vehicles offer similar potential benefits such as reduced greenhouse gas emissions, improved air quality, and reduced dependence on fossil fuels. While EVs are also a form of AFVs, here we will list out other major alternatives like hydrogen fuel and biofuel options. Hydrogen fuel cells: Convert hydrogen gas into electricity, emitting only water vapour. Currently, <keyword id="19906788" type="General" weightage="20" keywordseo="Toyota" source="keywords" meta.keywordsubtype="org" meta.entityname="Toyota" meta.hostid="261" meta.entityid="Toyota">Toyota</keyword> and Hyundai are the only hydrogen-based cars in the Indian market. Hydrogen internal combustion engines: These vehicles use hydrogen as a fuel in modified combustion engines. While road-legal vehicles for this fuel type aren’t out, BMW with hydrogen 7 is working on a prototype. Ethanol: This is a renewable fuel made from plant materials, commonly mixed with gasoline. In America, Ford F-150 Flex-Fuel and Chevrolet Silverado Flex-Fuel are utilizing this technology. Biodiesel and renewable diesel: Derived from vegetable oils, animal fats, or recycled grease, these fuel types can be used in diesel engines. Compressed Natural Gas (CNG): Perhaps the most famous alternative for cabbies in Delhi, CNG is in popular demand. Technically it is used in specially modified internal combustion engines, primarily for lower emissions. Propane (Liquefied Petroleum Gas, LPG): A byproduct of natural gas processing and crude oil refining, used in internal combustion engines. As technology continues to advance, these AFVs are becoming more accessible and affordable, making them a promising option for sustainable transportation. If you are an eco-conscious buyer in today’s auto market, bear in mind that there are options beyond EVs as well. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/mercedes-expands-bev-range-rolls-out-second-locally-produced-model-in-india/articleshow/113388002.cms" data-type="tilCustomLink" target="_blank">Mercedes expands BEV range; rolls out second locally produced model in India</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-adoption-in-india-rising-13-share-expected-by-2026-27-jefferies/articleshow/113361787.cms" data-type="tilCustomLink" target="_blank">Electric two-wheeler adoption in India rising, 13% share expected by 2026-27: Jefferies</a>

EVs are not the only options for alternative fuel — make way for hydrogen and bio-fuel

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> should deepen its partnerships with countries like <keyword id="19909762" type="General" weightage="20" keywordseo="Taiwan" source="keywords">Taiwan</keyword> and <keyword id="19904740" type="General" weightage="20" keywordseo="Japan" source="keywords">Japan</keyword> to strengthen its presence in the <keyword id="20587488" type="General" weightage="20" keywordseo="semiconductor-ecosystem" source="keywords">semiconductor ecosystem</keyword>, says a report by research firm Elara Securities. Globally, Taiwan holds a dominant position in <keyword id="19920003" type="General" weightage="100" keywordseo="semiconductor" source="keywords">semiconductor</keyword> manufacturing, with its companies accounting for 78 percent of the world's fab manufacturing and 53 percent of the assembly, testing, and packaging (ATMP) market. Over 312 Taiwanese firms lead this sector, but their involvement in India's nascent semiconductor industry remains limited. The report highlights that despite aggressive government efforts and incentives, Taiwan's largest semiconductor companies, including industry giant <keyword id="19956878" type="General" weightage="20" keywordseo="TSMC" source="keywords" meta.keywordsubtype="org" meta.entityname="TSMC" meta.hostid="261" meta.entityid="TSMC">TSMC</keyword>, have shown little interest in establishing fabs in India. The ongoing geopolitical tensions, particularly in the Taiwan Strait, have led Taiwanese semiconductor companies to diversify their operations abroad. TSMC and other key players like UMC are investing in fabs in the U.S., Japan, and Germany, focusing on both advanced and legacy <keyword id="20623935" type="General" weightage="20" keywordseo="chip-production" source="keywords">chip production</keyword>. For instance, TSMC is building fabs in Arizona and Germany, where it collaborates with local suppliers to produce advanced chips. However, no such announcement or collaboration with Indian companies has been made so far. The report states that Japan is providing training to Indian workers, while Taiwan is investing in semiconductor clusters in Southeast Asia. Strengthening such collaborations could provide the much-needed expertise and investment to bolster India's semiconductor ecosystem. Nonetheless, the report noted that the collaboration between <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword> and <keyword id="20660397" type="General" weightage="20" keywordseo="Powerchip-Semiconductor-Manufacturing-Corporation" source="keywords" meta.keywordsubtype="org" meta.entityname="Powerchip Semiconductor Manufacturing Corporation" meta.hostid="261" meta.entityid="Powerchip Semiconductor Manufacturing Corporation">Powerchip Semiconductor Manufacturing Corporation</keyword> (PSMC) is a positive step towards developing the semiconductor ecosystem in India. Recently, Tata announced a partnership with Taiwan's PSMC to build a 28-nanometer <keyword id="23170068" type="General" weightage="20" keywordseo="fab-plant" source="keywords">fab plant</keyword>. The report emphasises the need for India to improve its infrastructure and manufacturing ecosystem to attract significant investments in the sector. India also needs to select the right companies to improve manufacturing yields. It underscores concerns about the talent pool, stating that while many Indian students receive semiconductor training in Taiwan, a majority prefer to stay abroad, limiting the country's ability to build a skilled domestic workforce. India's infrastructure, intellectual property protection, and regulatory environment also need improvement to attract global semiconductor manufacturers and build a flourishing semiconductor ecosystem. On the global front, India has an opportunity to capitalise on shifting trade dynamics. With the U.S. and EU increasingly wary of Chinese components in their supply chains, India could position itself as a non-China alternative. Domestically, India's demand for semiconductor chips is expected to surpass USD 100 billion by 2030, driven by the growing demand for electronic goods, the report says.

India urged to deepen ties with Taiwan, Japan for semiconductor growth: Report

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Good morning. The FBI said it is investigating "<a target="_blank" href="https://www.businessinsider.com/trump-shots-fired-florida-golf-course-2024-9">what appears to be an attempted assassination</a>" of former President Donald Trump. Trump was uninjured following shots that were fired near his golf course in West Palm Beach, Florida, on Sunday, according to his campaign and the US Secret Service.<a target="_blank" rel="noopener" href="https://www.businessinsider.com/who-is-ryan-wesley-routh-second-trump-assassination-attempt-suspect-2024-9">Here's what we know about the shooting suspect</a>, who is in law enforcement custody.Meanwhile, in today's newsletter, we're looking at how AWS is ramping up its sales team <a target="_blank" href="https://www.businessinsider.com/amazon-ai-sales-machine-aws-google-microsoft-pressure-pay-speed-2024-9">to pitch customers on AI</a>.What's on deck:<ul><li>Markets: It's not legal, but that doesn't stop the rich from doing it to <a target="_blank" href="https://www.businessinsider.com/white-collar-fraud-wealthy-class-tax-evasion-insider-trading-2024-9">keep their fortunes growing</a>.</li><li>Tech: He oversees a Google cofounder's fortune. <a target="_blank" href="https://www.businessinsider.com/larry-page-family-office-koop-ceo-wayne-osborne-wealth-management-2024-9">Now his playbook is for sale</a>.</li><li>Business: Welcome to a new era of jobs: <a target="_blank" href="https://www.businessinsider.com/what-is-portfolio-career-pros-cons-income-streams-side-hustles-2024-9">the portfolio career</a>.</li></ul>But first, coffee is for closers.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097">Sell, sell, sell</h2><div type="image" title="Amazon Web Services CEO Matt Garman surrounded by AWS Logo, and graph with upward trending line" height="1000" width="2000" msid="113399088" hostid="261" sizebytes="117946"></div>When it comes to the AI revolution, building is only half the battle.After drawing scrutiny from investors about their massive investments in generative AI, tech companies are prioritizing getting returns on their big bets.At Amazon Web Services, that's meant a new <a target="_blank" href="https://www.businessinsider.com/amazon-ai-sales-machine-aws-google-microsoft-pressure-pay-speed-2024-9">internal sales campaign focused on its AI offerings</a>, writes Business Insider's Eugene Kim.The three-pronged strategy, dubbed "Find One, Launch One, Ramp One," is about selling, installing, and generating revenue for Amazon's AI assistant, Q, and AI platform, Bedrock.A key piece of the plan is obviously AWS' salespeople, who are being incentivized with performance bonuses tied to Q and Bedrock and even a pizza party at an executive's home for top performers. (I'd probably just opt for the cash.)But it's not just salespeople getting in on the action. Staffers meant to implement tools with customers or craft the right cloud service for a client are now being encouraged to get more involved in the sales process.An AWS spokesperson told Eugene the company is merely responding to their customers' needs, and that the lines between salespeople and non-salespeople are still clear.<div type="image" title="Amazon, OpenAI and Microsoft logo." height="900" width="2000" msid="113399092" hostid="261" sizebytes="52140"></div>AWS' pressure to ramp up AI sales isn't just focused on ROI.While it's long been a leader in the public cloud space, Amazon hasn't held the same dominance in the AI race. In particular, it's faced stiff competition from rival Microsoft, which benefited from its early bet on OpenAI.As a result, AWS has become more aggressive with its AI strategy, <a target="_blank" href="https://www.businessinsider.com/amazon-aws-sales-guidelines-spread-doubt-about-openai-ai-capabilities-2024-8">spreading doubts about its competitors to customers</a>.But apart from all the fighting over customers and the push to create cutting-edge tools, a bigger question remains: Does anyone even want this stuff?It's still early days, but <a target="_blank" href="https://www.businessinsider.com/pharma-cio-cancelled-microsoft-copilot-ai-tool-2024-7">Microsoft</a>, <a target="_blank" href="https://www.businessinsider.com/amazon-q-ai-early-challenges-aws-chatbot-2024-9">Amazon</a>, and <a target="_blank" href="https://www.businessinsider.com/google-gemini-woke-images-ai-chatbot-criticism-controversy-2024-2">Google</a> have all previously gotten some not-so-great feedback on their tools. And while these companies can't afford not to pitch their customers on AI tech, they also risk turning them off to the idea by selling them products that might not live up to expectations.I don't mean to sound naive. I am well aware this is a business that needs to make money. And sometimes not doing something can be just as risky as rushing into something.But it's a fine line to balance for tech companies banking on AI being the industry's next gold mine.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li>Welcome to interest-rate cut week: Here's how the Fed's next move will impact <a target="_blank" href="https://www.businessinsider.com/interest-rate-cuts-decision-this-week-federal-reserve-powell-inflation-2024-9">everything from home prices to new cars loans</a>.</li><li>Here are the <a target="_blank" rel="noopener" href="https://www.businessinsider.com/2024-emmy-winners-list-nominees-76th-primetime-awards">2024 Emmy winners</a>.</li><li>Trump's favorite hobby presents a <a target="_blank" rel="noopener" href="https://www.businessinsider.com/trump-golf-course-shooting-secret-service-challenges-assassination-attempt-2024-9">'nightmare' security challenge</a>, former Secret Service agent says.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="A collage showing a businessman along with the definiition of embezzlement and tax evasion." height="1000" width="2000" msid="113399097" hostid="261" sizebytes="219896"></div><ol><li>What's hot in white collar crime. These are the <a target="_blank" href="https://www.businessinsider.com/white-collar-fraud-wealthy-class-tax-evasion-insider-trading-2024-9">most common illegal maneuvers</a> the rich use to get richer, according to defense attorneys. The top of the list may not surprise you — after all, Martha Stewart, Al Capone, and "The Situation" got busted for the same one.</li><li>Clouds roll over the Sunshine State's housing market. It's getting harder and harder to enjoy living in Florida. Once among the pandemic's hottest housing markets, the state is increasingly expensive, hot, and crowded, residents say. <a target="_blank" href="https://www.businessinsider.com/florida-housing-market-sales-weather-climate-change-retirement-pandemic-costs-2024-9">Expect gray days for Florida's real estate</a>.</li><li>Starting a hedge fund? Don't do this. Hedge fund launches are on the rise, but the funding environment is mixed. Two top Morgan Stanley bankers broke down common early mistakes <a target="_blank" href="https://www.businessinsider.com/morgan-stanley-prime-brokerage-novick-shaw-startup-hedge-fund-mistakes-2024-9">and what to do instead</a>.</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="Photo collage of Wayne Osborne and Google co-founder Larry Page, surrounded by Google search elements, the Google logo, falling money, yachts, and private islands" height="1500" width="2000" msid="113399090" hostid="261" sizebytes="172450"></div><ol><li>For sale: the sacred playbook of Larry Page's money man. Wayne Osborne has been the keeper of the keys to the Google cofounder for years. Now, he's stepping out of the shadows with his own wealth management company to put his trade secrets to work for other clients. Insiders say the goal is to <a target="_blank" href="https://www.businessinsider.com/larry-page-family-office-koop-ceo-wayne-osborne-wealth-management-2024-9">dominate wealth management</a> the way Page dominated online search.</li><li>How Elon fumbled Twitter — and apparently gave Grimes' baby name to his other child. A new book by Ryan Mac and Kate Conger unearths new details about the chaotic period in 2022 when Musk decided to buy Twitter, and its descent into ~whatever it is now~. <a target="_blank" href="https://www.businessinsider.com/elon-musk-grimes-baby-name-new-book-character-limit-2024">They spoke to BI about what they found</a>.</li><li>Google's feeling lucky. The online search giant dodged a jury trial in its big adtech case, thwarting the Justice Department's hopes. The juryless trial came with a price tag, though: <a target="_blank" href="https://www.businessinsider.com/google-dodged-jury-advertising-antitrust-trial-with-check-damages-2024-9">$2,289,751, to be exact</a>.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="A smaller and duller city next to a bright and shiny larger city" height="1500" width="2000" msid="113399086" hostid="261" sizebytes="433752"></div><ol><li>Why you probably hate your downtown. There are two versions of the American downtown: one is designed to serve office workers and tourists, and the other is more local-centric, with plenty of housing, schools, and local businesses. Ironically, <a target="_blank" href="https://www.businessinsider.com/2-kinds-of-cities-explains-why-you-hate-your-downtown-2024-9">tourists prefer the latter</a>, but many cities are still depending on the former to revive their economies.</li><li>Meet the portfolio career. We've entered a new era of work where more people are becoming overemployed and diving into multiple sides of hustles instead of the traditional 9-to-5. There's a lot of flexibility and earning potential when it comes to a portfolio career, but <a target="_blank" href="https://www.businessinsider.com/what-is-portfolio-career-pros-cons-income-streams-side-hustles-2024-9">it's not for everyone</a>.</li><li>Hollywood's bleeding under post-strike pressures. Despite gains in wages and benefits won after last year's Hollywood writers' and actors' strikes, <a target="_blank" href="https://www.businessinsider.com/tv-shows-bounce-back-new-rules-bring-pain-hollywood-points-2024-9">the industry is still struggling</a>. Spending on new content has significantly declined, and everyone's biting their nails over AI.</li></ol><h2 id="1ad7b482-3f4b-44b4-81b6-a864aa386478">In other news</h2><ul><li>I went to Big Lots and saw why the chain is <a target="_blank" href="https://www.businessinsider.com/big-lots-felt-like-stepping-back-in-time-retail-discount-2024-9">closing stores and filing for bankruptcy</a>.</li><li>How Bear Grylls spends his 5 to 9 — <a target="_blank" href="https://www.businessinsider.com/bear-grylls-daily-routine-barefoot-walks-cold-plunges-plenty-meat-2024-9">from walking barefoot outdoors to cold plunges</a>.</li><li>Meet the 10 biggest wealth gainers this year — <a target="_blank" href="https://www.businessinsider.com/wealth-gain-rich-list-billionaires-nvidia-huang-meta-zuckerberg-buffett-2024-9">who've added a combined $360 billion to their fortunes in 2024</a>.</li></ul><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>Kamala Harris meets with Teamsters leaders.</li><li>Court hearing in TikTok's challenge to a Biden administration law forcing the app's sale or ban.</li><li>The Booker Prize for Fiction shortlist nominees are announced.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Hallam Bullock, senior editor, in London. Milan Sehmbi, fellow, in London. Amanda Yen, fellow, in New York.

The race in Big Tech to sell customers on AI products is heating up

<ul class="summary-list"><li>I've been a member of my local "Buy Nothing" group on Facebook for five years. </li><li>I've given away countless items to declutter my home. It always gives me a sense of satisfaction.</li></ul>A NASA space costume for Halloween. Check! A lampshade. Check! Two faux fir trees in matching urns. Check and check!These are some of the things I've given away to members of my <a target="_blank" class="" href="https://buynothingproject.org/">local But Nothing page</a>. For the uninitiated, <a target="_blank" class="" href="https://www.businessinsider.com/a-mom-shares-how-facebook-parenting-groups-can-be-lifesaving-2023-7">the group on Facebook</a> is part of a project for people to give away — and receive — unwanted items.It's based on the principle of "one man's trash is another man's treasure" and helps reduce landfills.My family is not quite at a <a target="_blank" class="" href="https://www.businessinsider.com/couple-bought-1940s-hoarder-house-photos-2023-10">hoarder level</a>, but we have enough junk to make us a borderline case. The garage is packed with everything from ski gear we never use to outsize Christmas decorations that no one likes anymore.There is a bike that is too small for the kids and boxes full of books. Our attic has a variety of plastic bins of clothes that no longer fit and a set of outdated silverware my husband inherited from a cousin.Slowly and surely, I'm offloading the stuff after posting photos of each item on Buy Nothing. Nine times out of them, at least one or two people will type the magic word "interested" in the thread.<h2 id="5a4ad779-8af3-41c1-a701-00fc9f815002">Some things get more attention than others</h2>I had a record 85 bids on some stainless steel shelves but no takers for a set of beige coffee mugs. It's disappointing when nobody comments under a post — "Have I got bad taste?" I'll ask myself — or the person who "won" the free auction flakes and doesn't show up as promised.<div type="image" title="Two tall glass vases standing next to a piano." height="563" width="750" msid="114636579" hostid="261" sizebytes="22538"></div>I've learned that the trick is to pick someone in the group you already know (we live in a small town) or set a deadline of three or four days for the pick-up.It's better to post things that tally with the season. Nobody wanted my pre-lit holiday reindeer for the lawn in March, but I just donated a <a target="_blank" class="" href="https://www.businessinsider.com/guides/home/best-halloween-decorations">Halloween tree </a>with bendy branches to someone hosting a party.I'm not practical enough to sort and select items from one messy room at a time. Instead, I'll chance upon something I no longer need and then post it online.A professional declutterer would probably advise me to discard everything in one fell swoop, but I prefer to do it at my own pace. I also get a sense of satisfaction from gifting things to individuals.I rarely get to meet the claimant who messaged for my address because it's easier to leave stuff outside on the steps. But I've got to know a <a target="_blank" class="" href="https://www.businessinsider.com/what-i-learned-teaching-in-public-school-for-23-years-2023-9">public school teacher</a> who often comes to take books and nearly new toys.The nicest thing happened when a woman picked up an item and messaged me about my bright yellow front door. She wanted to know the exact shade to paint her door the same.<h2 id="c3f27ada-4556-4a26-ac4d-e594afce41a0">I have to stop the urge to get other people's stuff</h2><div type="image" title="A pea green sofa in a living room" height="3024" width="4032" msid="114636580" hostid="261" sizebytes="651850"></div>Until recently, I occasionally saw something on Buy Nothing and expressed interest. Last year, I was given a <a target="_blank" class="" href="https://www.businessinsider.com/i-fell-for-a-facebook-marketplace-scam-thats-increasingly-common-2023-8">beautiful upright piano </a>after posting an appeal.Still, taking other people's stuff is counter-productive, so much so that I've resisted the urge for the last few months. I've learned that it's dangerous to make an impulse "bid" only to be selected and regret the decision afterward.This summer, I landed a pea-green sofa that the rest of my family hated. Luckily, I re-gifted it on the page, and it's safely installed in the brightly-colored office of a<a target="_blank" class="" href="https://www.businessinsider.com/psychiatrist-kids-tips-minimizing-childrens-screen-time-smartphone-laptop-2023-11"> child psychiatrist</a>. "Everyone loves it," she wrote in a message with a photo of the couch in situ.I now ask myself, "Do we really need that?" when I see something I like. It helps that most of the quality things that catch my eye draw interest from other members, and I'd be unlikely to be chosen.<a target="_blank" class="" href="https://www.businessinsider.com/tidying-up-with-marie-kondo-organizing-tips-2019-1">My decluttering method is hardly Marie Kondo's</a>, but it works for me. Meanwhile, does anyone want two four-foot vases that were a pandemic buy from HomeGoods?Do you have an interesting story about decluttering to share with Business Insider? Please send details to <a target="_blank" href="mailto:jridley@insider.com">jridley@businessinsider.com</a>.

I'm decluttering my house using a local 'Buy Nothing' group. It's still hard to resist taking other people's free stuff.

<ul class="summary-list"><li>Microsoft recently updated its AI Copilot for consumers.</li><li>It was is the first major release from Microsoft's new consumer AI org, under Mustafa Suleyman.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/microsoft-org-chart-top-people-mustafa-suleyman-ai-2024-6">Microsoft</a> updated a Copilot tool for consumers earlier this month. It was the first major product release from <a target="_blank" class="" href="https://www.businessinsider.com/microsoft-hired-mustafa-suleyman-ghostwriter-for-new-ai-org-2024-6">Mustafa Suleyman</a>'s new Microsoft AI group, and it's had a mixed reception so far.Suleyman, who joined Microsoft from DeepMind earlier this year, described the <a target="_blank" class="" href="https://www.businessinsider.com/microsoft-ai-copilot-future-openai-2024-3">Copilot</a> refresh as the first step toward an <a target="_blank" class="" href="https://www.businessinsider.com/microsoft-punts-365-ai-bundle-pilot-tests-copilot-2024-9">AI</a> companion that will "support you, teach you, and help you."Some employees and users are saying the new version is worse than the previous incarnation, which was built before Suleyman arrived."Absolutely ruined," one person wrote on a private message board for Microsoft employees that's run by Blind. This platform requires staff to provide an official verified company email before being allowed to join."The new Copilot is a step backward," another person wrote in the Microsoft group on Blind, according to screenshots reviewed by Business Insider. "The new Copilot update is bad," another wrote.<h2 id="39a19154-a560-4e0d-845a-4392418cb652">App Store reviews</h2>These comments are supported by public reviews of the Copilot app on Apple's App Store. Until this latest update, the product had largely favorable reviews, with an average of 4.8 stars out of 5 based on more than 100,000 ratings. But since the Oct. 1 refresh, the reviews have taken a negative turn, garnering more than 250 one-star reviews this month. That compares to only about 20 one-star ratings in September before the update."It was so good before updating to this version," one reviewer wrote. Another said the Copilot app is "dumbed down and less functional.""Why release such an amazing app and then update it to what it is now?" a third reviewer wrote in the App Store.<h2 id="6b780fe7-e462-4af4-8d5f-a289a283454b">High expectations</h2>Microsoft <a target="_blank" rel="" href="https://www.businessinsider.com/microsoft-hired-inflection-team-amid-board-concerns-about-openai-2024-3">hired Suleyman</a> in March to oversee consumer AI products such as the Bing search engine and the <a target="_blank" rel=" nofollow" href="https://copilot.microsoft.com/">Copilot AI chatbot</a>. As the cofounder of AI pioneer DeepMind, there were high expectations for Suleyman's contributions.This is just one of many projects he's working on, and some of the issues may be somewhat out of his control. New product updates can also suffer from early teething problems that can sometimes be ironed out later. Some users also react negatively when an app they've gotten used to suddenly changes. "The new Copilot consumer app represents a fundamental shift, evolving from a transactional tool to a companion experience that is more conversational, where it's there to support you, guide you and help you solve less defined problems," Divya Kumar, general manager of Copilot and AI marketing, said in a statement to BI."We will add new features and functionality as we continue to listen to and address our customers' feedback," she added. <h2 id="9fae3a1e-ecfc-40c8-8572-54a76c5d410c">Multiple Copilots</h2>On the Microsoft employee message board on Blind, some people compared the updated Copilot app for consumers to a different Copilot tool that's designed for corporate customers. Microsoft has many versions of its Copilots. There are so many that one Microsoft executive <a target="_blank" class="" href="https://www.businessinsider.com/microsoft-customers-complain-copilot-doesnt-work-as-well-as-chatgpt-2024-3">told BI</a> the company is struggling to educate customers on the differences between the tools.For instance, Suleyman's consumer Copilot app is separate from an AI Copilot tool that Microsoft offers as part of its M365 suite of business software."The web tab M365 Copilot is way better," one of the people in the Microsoft Blind group wrote. "The M365 one is far superior," another person said."The productivity experiences people love are still available to use at work with Copilot in Microsoft 365," Kumar wrote in her statement to BI. <h2 id="6912235f-40e1-4c4e-99fd-51e934de6645">User feedback</h2>In the public App Store reviews, users complained about several specific issues that have arisen since the consumer AI Copilot app was updated Oct. 1.Some users wrote that the app freezes or is slow to respond. Others said the outputs seemed "dumber," with less information than the previous version. Real-time information, such as sports scores and local recommendations are missing now, or the app just says "Sorry, I can't help you with that" more often, according to the reviews.Users also complained about the inability to delete old conversations. Some also disliked changes to the app's image feature, which previously generated four images per request and now only generates one.<h2 id="5e2b2892-58e6-4693-868b-28c5a3ef68ed">A positive review</h2>One positive review complimented the app's new user interface for being "designed for general users.""Today, you are seeing the first careful steps in this direction with an emphasis on creating a simpler, calmer experience and giving everyone access to new Voice capabilities that unlock a new way of communicating with AI that's much more natural, and more fun," Kumar, the Microsoft general manager, said her statement. More than one user appeared unimpressed with a move toward the Copilot becoming an "AI companion." This was an approach that Suleyman led at his previous startup, Inflection AI."It tries to be my friend when I need it to be a tool," one user wrote."I don't need an AI friend," another wrote. "I need a tool."Are you a Microsoft employee or someone else with insight to share?Contact Ashley Stewart via the encrypted messaging app Signal (+1-425-344-8242) or email (<a target="_blank" href="mailto:astewart@businessinsider.com">astewart@businessinsider.com</a>). Use a nonwork device.

Microsoft's new AI CEO rolled out his first big product update. Some staff and users say the previous version was better.

<ul class="summary-list"><li>Large sporting events like the Olympics require huge amounts of connectivity infrastructure.</li><li>The infrastructure is used after the events themselves, leaving a legacy for host-city dwellers.</li></ul>In Paris, <a target="_blank" class="" href="https://www.businessinsider.com/alev-kelter-olympic-womens-rugby-us-training-2024-7">athletes are bringing their best and breaking records</a>. But achievements at the 2024 Summer Games go beyond the physical feats broadcast around the world.Behind the scenes, <a target="_blank" class="" href="https://www.businessinsider.com/paris-olympics-internet-connection-5g-mobile-technology-2024-7">5G infrastructure</a> is powering live broadcasts worldwide and the moments spectators and athletes capture and post on social media.High-speed fiber-optic networks, 5G cellular towers, and advanced WiFi systems have been deployed at 120 sites across Paris to handle the internet demands of global broadcasters, millions of visitors, and the Games' intricate operations.Events as expansive and popular as the Olympics demand robust and high-capacity networks to broadcast live events to viewers worldwide and support the digital needs of athletes, officials, and spectators.Rolf Werner, the head of mobile networks in Europe at Nokia, said that with careful planning, these types of <a target="_blank" class="" href="https://www.businessinsider.com/5g-advanced-standalone-6g-qualcomm-huawei-mwc-2024-3">5G connectivity investments</a> can last for years."By investing in 5G infrastructure, cities can create a <a target="_blank" class="" href="https://www.businessinsider.com/5g-transforms-businesses-better-security-remote-capabilities-2024-5">robust digital foundation</a> that benefits local communities long after the event has concluded," Werner told Business Insider. That includes strengthening local businesses' internet connectivity, he said.Sandeep Raithatha, the head of strategy, innovation, and 5G IoT products at Virgin Media O2, said private 5G networks that were initially deployed in Olympic venues for broadcast-service use could be repurposed for live events."Once installed, these networks can continue to be utilized for future events as well, ensuring a lasting benefit beyond the initial investment," Raithatha told BI.That's been the case for Olympic host cities like London and Tokyo, where 5G installations continue to power connectivity for residents and visitors.<h2 id="6014d88e-fe10-42a7-a8e7-2e9ad0a2a87e">London 2012: Stratford Halo</h2>Virgin Media O2 upgraded London's connectivity infrastructure when the city hosted the Games in 2012."This included installing additional masts around major airports to ensure tourists could get online immediately and deploying small cells around the venues so that fans could consistently connect in densely populated areas, whether to send selfies, stream videos, or share their location for safety reasons," Raithatha said.One key build was the Stratford Halo, which acted as the TV broadcasting tower for the Games. After the event, it became a hub for YouTubers and other content creators because of its gigabit-speed internet connectivity. It was considered revolutionary because the average internet speed in the UK at the time was slower.The planning efforts allowed the Stratford Halo to be repurposed into a residential building two years after the closing ceremony.In the lead-up to the Games, connectivity infrastructure was embedded in the London Underground light-rail network and the Westfield shopping center in Stratford. Communities continue to rely on this technology for internet access.<h2 id="0f74ba14-8f70-4b55-aea6-131d7970ae5f">Tokyo 2020: Tokyo Data Highway</h2>Japan has a reputation as a technology innovator. But its capital, Tokyo, which in 2021 hosted the delayed 2020 Summer Olympics, had a meager showing of 5G infrastructure.5G technology wasn't adopted at a consumer level until 2019, and Japan's 5G-infrastructure rollout was <a target="_blank" href="https://www.reuters.com/article/idUSKBN22R0XP/">delayed by the COVID-19 pandemic</a>. In 2020, just 10 5G towers were installed.But 5G technology became more common by 2021, two years after Tokyo launched its 5G-infrastructure project, the Tokyo Data Highway. Buoyed by the Olympics, the city added dozens of 5G towers to its connectivity system, expanding to 149 installations in 2021.The goal is to have 5G available throughout the city by 2030, though it's unclear how far along the project is.<h2 id="39507179-0379-4d14-9e10-fe6309766453">Beijing 2022: Beijing-Zhangjiakou high-speed railway</h2>The 108-mile Beijing-Zhangjiakou high-speed railway connected the host city of the 2022 Winter Olympics with the rest of China.It linked Beijing to the competition space outside the Chinese capital where events like ski jumping, snowboarding, and freestyle skiing took place. Athletes were able to take the driverless train between the two locations at speeds of up to 217 mph.But the railway's legacy goes beyond the hyperfast transportation it continues to provide; it was also the first high-speed train equipped with 5G coverage.The train route was also lined with 5G signal towers to ensure reliable, high-speed internet. In 2022, the 5G technology was fast enough that train riders could watch the opening ceremony on their personal devices. Now riders can enjoy superfast interest connections while traveling on the railway.

How Olympic host cities have recycled 5G infrastructure to improve locals' internet speeds and connectivity

<ul class="summary-list"><li><keyword id="842188" type="General" weightage="20" keywordseo="robusta-coffee" source="Orion">Robusta coffee</keyword> futures hit a 16-year high because of a prolonged <keyword id="21439405" type="General" weightage="20" keywordseo="drought-in-Vietnam" source="keywords">drought in Vietnam</keyword>.</li><li><keyword id="20004319" type="General" weightage="20" keywordseo="vietnam" source="keywords">Vietnam</keyword> and Brazil, the top robusta producers, face climate issues affecting harvest and supply.</li></ul>Lattes may get pricier, as a key indicator for the price of the bean in espresso just hit a record high. The robusta coffee variety is the basis for both espresso and <keyword id="957954" type="General" weightage="20" keywordseo="instant-coffee" source="Orion">instant coffee</keyword>. Vietnam makes the most robusta, followed by Brazil. A long, El Niño-induced drought in Vietnam pushed up the price of robusta futures on Wednesday to the highest in at least 16 years, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-25/pricey-coffee-here-to-stay-as-hoarding-heat-hit-vietnam-supply">reported</a>. Vietnam produces more than a third of the world's robusta, per the <a target="_blank" href="https://apps.fas.usda.gov/psdonline/circulars/coffee.pdf">US Department of Agriculture</a>. In December, the agency predicted Brazil would harvest less robusta this year because of climate issues, while Vietnam would export less because of lower total supplies from last year. This year's drought in Vietnam could continue the low-supply cycle, hurting next year's production. Last month, Vietnam's coffee association said exports could decline as much as 20% in the 12 months ending in September, compared with the same period last year. "We can't tell when prices will peak," Tran Thi Lan Anh, deputy director of Vietnamese exporter Vinh Hiep Co., told Bloomberg. She said farmers and brokers think the cost of the beans could rise 15% per kilogram from current prices. Robusta's price has also been pushed up by hoarding. Some Vietnamese farmers aren't selling their coffee beans, holding onto as much as 13% of this year's harvest in hopes of selling the beans for more later, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-01-16/coffee-hoarding-set-to-squeeze-vietnamese-exports-even-further">reported</a>. Vietnam is increasingly importing cheaper robusta from Brazil to satisfy soaring local demand from coffee drinkers, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-03-02/coffee-craze-at-home-transforms-big-asian-exporters-into-buyers">Bloomberg reported</a> in March. And as disposable income rises across Asia, consumers are buying more coffee, too. Asian countries consumed 15% more coffee last year than in 2018 — the largest jump of any region — but still much less than Europe consumed, per data from the<a target="_blank" href="https://icocoffee.org/documents/cy2023-24/Coffee_Report_and_Outlook_December_2023_ICO.pdf"> International Coffee Organization</a>. Higher bean prices will take a while to reach consumers — so the cost of your <a target="_blank" href="https://www.businessinsider.com/best-iced-coffee-and-tea-at-starbucks-former-barista#you-cant-go-wrong-with-any-of-the-frappuccinos-but-the-mocha-cookie-crumble-is-a-highlight-2">mocha</a> is safe for now.

Vietnam's coffee bean production is hit by drought, could lead to rise in coffee prices globally

Daniel doesn't think of himself as a mom-and-pop landlord. The 42-year-old engineer is a savvy real-estate investor, the kind of guy who scours the internet to find nearby rents and combs through new listings with an eye toward expanding his mini empire. He owns nearly 30 rental homes, and while he outsources their day-to-day management to a large company, he makes sure his properties are within a 1½ -hour drive of his Atlanta home so he can stop by if necessary.Real-estate insiders often divide owners of single-family rental homes into two groups. There are the big guys — a small number of cash-flush "Wall Street investors" who own hundreds or thousands of properties — and then a whole lot of little guys, or mom-and-pops, who own the vast majority of single-family rentals. The stark, black-and-white divide has proved useful for all types of groups: Big companies point to the prevalence of mom-and-pops as proof that corporations like themselves are nowhere close to taking over the market. <a target="_blank" class="" href="https://www.businessinsider.com/stop-wall-street-landlords-single-family-rental-homes-2022-11">Politicians invoke the Ms-and-Ps</a> to highlight the contrast between the new class of greedy Wall Street landlords and the industry's humble origins. But Daniel, who requested anonymity to speak freely about his investments, is a prime example of the blurring line between the two factions — nowhere near the size of the private-equity firms who gobbled up entire blocks of homes during the pandemic but a far cry from the old guy who lives downstairs and hasn't raised rent in a couple of years. In this binary world, he's stuck with the mom-and-pop moniker.The past few years have solidified single-family rental homes as genuine moneymaking enterprises, not just ho-hum nest eggs. It costs nothing for small-time landlords to cruise through Zillow and see what their neighbors are charging, which makes it easier to price their rentals more aggressively. Meanwhile, a whole ecosystem of startups has sprung up to meet the every need of mom-and-pop landlords, from basic stuff like tenant screening to the minutiae of air-filter delivery. Bryan Smith, the chief operating officer of AMH Homes — one of the truly big landlords, with a portfolio of more than 59,000 homes — noted in a recent call with analysts that mom-and-pops hadn't traditionally been known for raising rents. But over time, he said, they've "migrated into a strategy that's closer" to that of big players such as AMH. Translation: The Wall Street mindset has gone mainstream.In fact, I think it's time to retire the label of "mom-and-pop landlord." There may be plenty of aging couples or "<a target="_blank" href="https://www.businessinsider.com/this-startup-retirement-solution-single-family-rental-landlords-2022-3">accidental landlords</a>" sailing into retirement with an investment home or two in their back pockets, but even the smallest of landlords, lured by the promise of greater efficiency and fatter profits, may no longer be content to merely have heads in beds. A steady stream of rental data and an onslaught of new property-management services have made amateur landlords savvier than ever. And that's to say nothing of the changing of the guard as baby boomers age out of their property-owning days, which leaves millennials and <a target="_blank" href="https://www.businessinsider.com/gen-z-millennials-real-estate-investing-mistakes-buying-homes-early-2023-3">Gen Zers to take on the mantle</a>.In other words, your kindly mom-and-pop landlord is about to get a lot more cutthroat.Until recently, there was no need to distinguish between mom-and-pop owners of single-family rentals and their suit-clad counterparts. Institutional landlords — <a target="_blank" class="" href="https://www.businessinsider.com/single-family-rental-investor-conference-buying-more-homes-2021-12">massive investment managers with billions of dollars</a> to spend on single-family homes — didn't exist before the housing market's crash in 2008. Most big investors assumed it would be too complicated and expensive to manage portfolios of homes scattered across neighborhoods and cities. Corporate behemoths were content to spend big on apartment buildings and let the little guys handle homes.The burst of the housing bubble flipped this logic on its head. An abundance of cheap homes offered the <a target="_blank" class="" href="https://www.businessinsider.com/corporate-landlords-ready-110-billion-to-pounce-on-homes-2022-12">perfect entry point for private-equity-backed firms</a>, while new technology allowed large companies to efficiently and cheaply manage properties scattered across the country. Between 2007 and 2014, the number of single-family rentals jumped from fewer than 12 million to more than 15 million, according to an analysis of census data by the Harvard Joint Center for Housing Studies. Then came the pandemic, which cemented the idea that <a target="_blank" class="" href="https://www.businessinsider.com/single-family-rentals-hit-road-bumps-after-years-growth-2023-4">single-family homes were a great bet</a>. Booming housing demand drew all kinds of investors into the market — in the first quarter of 2022, a Redfin analysis found, landlords accounted for <a target="_blank" href="https://www.businessinsider.com/average-americans-beating-wall-street-new-homes-real-estate-homebuying-2023-11">more than 20% of all home purchases</a>.Institutional investors — those with more than 1,000 homes in their portfolios — own about 426,000 of the 14.2 million rental homes today, John Burns Research and Consulting found. Most of those properties are in sunny Southern places like Atlanta or Raleigh. Small-time landlords still dominate the single-family-rental landscape, but these aren't your mom and pop's "mom-and-pops." For one, the industry is vastly more transparent than it was in the early 2000s. If you want to see what comparable homes in your neighborhood are renting for, you can scroll through Zillow or visit the website of one of the institutional investors, such as Tricon Residential, Pretium, or Invitation Homes, all of which publicly list their properties and their asking rents. If even that sounds like too much work, companies including Buildium and Roofstock, known mostly for servicing the largest investors in the space, stand at the ready to offer property management and pricing advice — for a fee, of course."I think it all comes down to transparency and availability of information," Rick Palacios Jr., the director of research at John Burns, told me. "If you were to think about the single-family space today versus 10 years ago, 15 years ago, it's like night and day, just in terms of the availability of information that's out there."When everyone was scrambling for their piece of the suburbs during the pandemic, mom-and-pop landlords pounced, using these newfound tools to collect more cash. The median rent for single-family homes soared by double-digit percentages in both 2021 and 2022, according to the property-data firm CoreLogic, peaking at a nearly 14% annual increase."I think there's this narrative that it's only institutional landlords or investors that push up rents, jack rents," Palacios told me. "And that's absolutely not the case."Data on small landlords' behavior is notoriously scarce, but the latest John Burns figures show that in cities with little to no institutional presence, the smaller landlords are the ones cranking up the pressure. Chattanooga, Tennessee, for instance, has practically zero homes owned by institutional landlords but one of the country's highest rates of rent growth for single-family homes, with the typical asking rent for new leases up 10% in April from a year prior. Institutional investors own less than 1% of single-family rentals in Grand Rapids, Michigan, but asking rents there were up 8% year over year. In a similar vein, corporate owners may face the most scrutiny over evictions, but mom-and-pop rental owners are more likely to illegally evict their tenants, advocates for both landlords and tenants told Business Insider as part of a wide-ranging <a target="_blank" class="" href="https://www.businessinsider.com/illegal-wrongful-evictions-law-enforcement-police-court-2024-7">investigation into so-called "lockouts."</a>Mom-and-pop landlords may not be required to detail their operations in quarterly calls with stock analysts, but most experts I spoke with agreed that even those who own just a handful of properties are getting more with the times."Mom-and-pop investors are very savvy, very much in tune with what's happening," Jordan Kavana, the founder and chair of Ark Homes for Rent, told me.They also represent a huge opportunity for software companies and property-management firms to expand beyond their primary clients — deep-pocketed corporations — and target the vast number of smaller players. "It's a massive market," Rich Ford, a cofounder of Vesta Ventures, a venture-capital firm with a heavy focus on the single-family-rental industry, told me. The firm has made investments in property-management-software companies like Hemlane, which offers à la carte property-management services for small-time landlords, and Second Nature, which started out by delivering air filters to rental homes but now helps landlords offer "resident benefit packages" that include things like renters insurance, move-in concierge, and avenues for tenants to <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/does-rent-impact-credit-score">build credit through their rent payments</a>. Startups like Second Nature typically target the biggest players first — a single client can deploy the technology at tens of thousands of homes — but "as you fine-tune your product, bring its cost down, etc., now you've got the ability to spill into the mom-and-pop area," Ford said. Hemlane, on the other hand, has always focused on smaller owners. The company, which estimates only one-fourth of single-family-rental landlords use professional management services, now manages more than 28,000 rentals on behalf of small landlords."Those groups are able to do things for those individual investors, landlords, in a way that — I think you could make a pretty strong case — kind of mirrors how institutions are managing their properties," Palacios told me.The day-to-day life of a landlord is filled with a million questions: Am I paying too much for insurance? Do I really need to shell out that much for an electrical repair? In the past, small landlords might compare notes, but it was an inexact science. Now companies like <a target="_blank" class="" href="https://www.businessinsider.com/roofstock-jll-technologies-stessa-single-family-rental-homes-real-estate-2021-3">Stessa</a>, which offers a platform for landlords to manage everything from rent collection to bookkeeping, can gather all those data points from a wide range of investors and pass them down to the little guys. Individual landlords can look across their local markets, or even around the country, and understand how they stack up against their competitors."That's something that institutions have been able to do for a long time because they have so many doors," Devin Redmond, a marketing executive at Stessa, told me. "And that's something that mom-and-pop landlords would go to their local meetup and they chat with people, and they might get five or six data points."There will always be some landlords who seek nothing more than a tenant who pays rent on time, doesn't leave, and doesn't pick up the phone to complain when something breaks down. For this subset, the onslaught of proptech companies and landlord software may seem like unnecessary money sucks. But others will recognize the need to compete with the more professionalized newcomers — the landlords, both large and small, who fix things on time, let you pay online, and, yes, raise rents accordingly.The growing adoption of these newfangled services raises a big question: What exactly does it mean to be a mom-and-pop landlord these days? The definition has never been scientific or even widely agreed upon. Instead, it conjures a "very folksy, almost romanticized affection," Philip Garboden, who studies housing and property ownership at the University of Chicago, told me. It's been deployed in many contexts: You're just as likely to hear it in a CEO's quarterly recap as you are to hear it in a politician's stump speech. But the truth is, the term has outlived its usefulness. As the <a target="_blank" class="" href="https://www.businessinsider.com/real-estate-smaller-landlords-faring-better-than-some-bigger-firms-2023-5">Wall Street ethos trickles down to small rental owners</a>, it'll be harder and harder to tell them apart. Various industry insiders I spoke with offered alternatives like "small operator" or "retail investor" to describe the amateur landlord. None of these is nearly as evocative as "mom-and-pop," but maybe it doesn't matter. Rather than <a target="_blank" class="" href="https://www.businessinsider.com/biden-plan-cap-rent-5-percent-annually-corporate-landlords-2024-7">judging landlords by their portfolio sizes</a> or corporate structures, Garboden said, we should pay attention to their behaviors."We should really be concerned about management practices, fair housing, maintenance, all those types of things, and not be using these other things," — whether a landlord is large or small — "as proxies for those behaviors," Garboden told me.Some of the tools favored by big-time landlords may always be out of reach for smaller investors. Individuals may also be more hesitant to raise rents in line with institutional players since a vacancy for a month or two is much more costly when you have a couple houses than when you have 10,000. But the gap is narrowing as small rental owners capitalize on the innovations that the institutional class has already embraced.Daniel, the landlord in Atlanta, told me he now coaches his friends on how to maximize their cash flow from investment properties. His arrangement with Roofstock, the company that manages his properties, frees him up to spend more time sourcing deals. Even when he owned only one home, he told me, he didn't subscribe to the mom-and-pop mindset. He aimed to make decisions based on data and his local knowledge, not gut feeling. And he wanted to grow."I want to be big, but I'm not big yet," Daniel told me. "So I will look at the big guys and say, 'How are these guys so successful?' And I learn from them."<a target="_blank" rel="" href="https://www.businessinsider.com/author/james-rodriguez">James Rodriguez</a> is a senior reporter on Business Insider's Discourse team.

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