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<a href="https://www.businessinsider.com/startup-employees-brace-for-back-to-back-rounds-of-layoffs-2023-10"></a><ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Halfway to the weekend! Don't sweat it if you're fed up trying to find the one. Users of the dating app Tinder can now let friends and family <a href="https://www.businessinsider.com/tinder-matchmaker-feature-lets-friends-family-recommend-potential-matches-dating-2023-10">recommend potential matches</a>, meaning you can blame them for your bad dates. In today's big story, we're looking at why startups that have navigated multiple rounds of layoffs have left their <a href="https://www.businessinsider.com/startup-employees-brace-for-back-to-back-rounds-of-layoffs-2023-10" target="_blank" rel="noopener">workers feeling defeated</a>.What's on deck: <ul><li>Markets: JPMorgan's Jamie Dimon isn't impressed with <a href="https://www.businessinsider.com/jamie-dimon-jpmorgan-outlook-wall-street-central-bank-economy-recession-2023-10">central bankers' forecasting abilities</a>.</li><li>Tech: Creating an "Amazon of real estate" with tech could <a href="https://www.businessinsider.com/buying-a-home-house-too-complicated-amazon-real-estate-market-2023-10">fix home-buying</a>.</li><li>Business: Planet Fitness' ex-CEO's <a href="https://businessinsider.com/planet-fitness-ceo-chris-rondeau-cash-keg-alcohol-2023-10">hard-partying ways</a> raised eyebrows among some staff.</li></ul>But first, I just put something on your calendar.<h3>The big story</h3><h2>Lamenting layoffs<a href="https://www.businessinsider.com/subscription/newsletter/insider-today"></a></h2><a href="https://www.businessinsider.com/startup-employees-brace-for-back-to-back-rounds-of-layoffs-2023-10"></a><div type="image" title="A young office worker holding a box of his personal belongings standing by a red emergency exit door with a trail of money flowing out behind him on a green background" height="1440" width="1920" msid="104705804" hostid="261" sizebytes="66008"></div>"Am I next to go?"It's a question more and more startup employees are contemplating amid a historic downturn in the industry coupled with a pullback in VC funding.Concerns over job security have always lingered in the high-risk world of startups. But as Insider's Samantha Stokes and Madeline Renbarger detail, <a href="https://www.businessinsider.com/startup-employees-brace-for-back-to-back-rounds-of-layoffs-2023-10" target="_blank" rel="noopener">employees are on edge nowadays</a> because of the threat of multiple layoffs in a short time. Instead of feeling relieved after surviving a round of job cuts, employees wonder when the next headcount reduction will occur. The process has left employees feeling demoralized and stressed, with some telling Samantha and Madeline they've lost confidence and faith in leadership.It's worth noting that startups have always had a risk-reward aspect, even if it didn't feel that way for a long time.For every successful startup, countless ones have failed. But seemingly endless venture funding and eye-popping valuations over the past decade, especially in the wake of the pandemic, made it easy to dismiss the risks. Why work for a corporate entity and be a cog in the wheel when you can get hands-on experience at a startup? (And make a ton of money along the way.)<a href="https://www.businessinsider.com/startup-employees-brace-for-back-to-back-rounds-of-layoffs-2023-10"></a><div type="image" title="A GIF of an arm holding a box of stuff, multiplying" height="600" width="1200" msid="104705805" hostid="261" sizebytes="49200"></div>But just because layoffs are a necessary evil of the startup industry, that doesn't mean employees' concerns aren't warranted. Samantha told me one issue raised by sources was the uncertainty around how different layoffs were conducted. Severance packages sometimes varied between rounds of layoffs, causing further confusion and fear. Another issue was the need for more transparency. Founders' positive outlooks in the midst of multiple layoffs were offputting to employees who just wanted to be treated like adults, Samantha told me. I understand the importance of a leader putting on a brave face for the troops and avoiding information overload, but keeping workers in the complete dark comes with its own risks. Startup employees often go on to start their own companies, so it'll be interesting to see how these experiences shape the next generation of companies. Future founders could take a more transparent approach to management. Or it could just mean startups conduct deeper cuts initially to avoid more layoffs in the short term.<h2>3 things in markets</h2><a href="https://www.businessinsider.com/jamie-dimon-jpmorgan-outlook-wall-street-central-bank-economy-recession-2023-10"></a><div type="image" title="Jamie Damon with photographers behind him" height="650" width="1300" msid="104705807" hostid="261" sizebytes="64900"></div><ol><li> Jamie Dimon points the finger at central banks. The JPMorgan CEO said at a conference that central bankers were "100% dead wrong" with their forecasts 18 months ago. Going forward, he recommended preparing for "<a href="https://www.businessinsider.com/jamie-dimon-jpmorgan-outlook-wall-street-central-bank-economy-recession-2023-10">possibilities and probabilities</a>" versus "calling one course of action."</li><li> The big money in building EV charging stations. The adoption of commercial electric vehicles means a <a href="https://www.businessinsider.com/real-estate-investors-ev-truck-electric-charging-stations-2023-10">huge opportunity for real-estate investors</a> to build charging stations. Prologis, the $100 billion owner of industrial and logistical properties, has already reached a deal to build one such station in Southern California.</li><li>David Rosenberg warned investors not to repeat their mistakes before the 2008 financial crisis. The famed economist compared current predictions of a soft landing to the <a href="https://markets.businessinsider.com/news/stocks/market-economy-outlook-recession-2008-housing-crash-financial-crisis-rosenberg-2023-10">investor complacency ahead of the 2008 crash</a>. "I am willing to acknowledge that the recession has been delayed. But it has not been derailed," he wrote in a recent memo.</li></ol><h2>3 things in tech</h2><a href="https://www.businessinsider.com/buying-a-home-house-too-complicated-amazon-real-estate-market-2023-10"></a><div type="image" title="Among a tangle of jungle plants and vines, a lane of houses appears, with eager real estate agents stand in front of the doorways. And the lane narrows, the horizons depicts the houses fragmenting, a lone orange house surviving in the large expanse of a starry night sky." height="960" width="1920" msid="104705809" hostid="261" sizebytes="477294"></div><ol><li> Why buying a home is still so complicated. Today's house hunters don't just face an inventory shortage and rising mortgage rates. With so many startups trying to update various parts of the process for the digital age, buying a home has actually <a href="https://www.businessinsider.com/buying-a-home-house-too-complicated-amazon-real-estate-market-2023-10">gotten more complicated</a>.</li><li> In the age of AI, the new luxury item will be humans. You can buy an overwhelming variety of items online. This abundance has taken much of the satisfaction away from purchasing physical things. This is why experiences, which by definition are finite, <a href="https://www.businessinsider.com/ai-artificial-intelligence-new-luxury-item-will-be-humans-2023-10">became more valuable</a>.</li><li>Microsoft just shut down an "industrial metaverse" project. Project Airism was the company's AI-based drone simulation software. But Microsoft confirmed that it's discontinuing the project in December. And employees were told on Monday that the <a href="https://www.businessinsider.com/microsoft-shutters-project-airsim-ai-strategy-openai-2023-10">whole team would be laid off</a>, according to a person familiar with the matter.</li></ol><h2>3 things in business</h2><a href="https://businessinsider.com/planet-fitness-ceo-chris-rondeau-cash-keg-alcohol-2023-10"></a><div type="image" title="Disgraced Planet Fitness CEO gestures upward with his right hand, his eyes jubilant. A falling white arrow crosses his chest. Next to him are two yellow starbursts. One shows a stack of one hundred dollar bills. The other is a keg with red solo cups faced on top." height="1440" width="1920" msid="104705811" hostid="261" sizebytes="252030"></div><ol><li> Planet Fitness CEO firing remains a mystery, but former employees say his behavior raised some eyebrows. Chris Rondeau claims he was "seriously blindsided" by his ouster. But ex-staff say he kept a keg in his office and would have assistants <a href="https://businessinsider.com/planet-fitness-ceo-chris-rondeau-cash-keg-alcohol-2023-10" target="_blank" rel="noopener">withdraw thousands in cash</a> from his personal bank accounts for travel.</li><li> How Snap lost its chance at becoming an advertising giant. Snap's ad business makes up almost all of its revenue. But it's been losing a steady stream of advertisers to TikTok. Plus, it still hasn't fully recovered from Apple's privacy feature. So, its ad business has some <a href="https://www.businessinsider.com/snap-advertising-struggle-2023-10">major hurdles to overcome</a>.</li><li>It's hard to know how much Uber and Lyft drivers are paid. Different pay calculations, car expenses, and customer tips can produce a wide range of driver incomes. Their hourly pay can be <a href="https://www.businessinsider.com/how-much-uber-lyft-drivers-make-per-ride-2023-10">as low as $9 or as high as $40</a> — depending on who's calculating.</li></ol><h2>In other news</h2><ul><li>How Baltimore PD's tactics in handling convicted sex offender Jason Billingsley may have <a href="https://www.businessinsider.com/baltimore-police-jason-billingsley-sex-offender-fugitive-psychology-2023-10">enabled him to kill a tech CEO</a>.</li><li>Court documents reveal <a href="https://www.businessinsider.com/off-duty-pilot-charged-alaska-airlines-court-documents-2023-10">an even weirder story</a> of the off-duty pilot who attempted to turn off a plane's engine mid-flight.</li><li>Why IPAs are about to <a href="https://www.businessinsider.com/hops-beer-ipa-price-climate-change-weather-2023-10">get more expensive</a>.</li><li>"Scary Fest" — Apple just announced an event for <a href="https://www.businessinsider.com/apple-mac-event-october-scary-fast-2023-10" target="_blank" rel="noopener">the day before Halloween</a>.</li><li>New York City has lost 100,000 apartments because rich neighborhoods keep <a href="https://www.businessinsider.com/new-york-city-losing-rental-housing-crisis-combine-apartments-2023-10">combining units</a>.</li><li>Google is <a href="https://www.businessinsider.com/google-sales-team-focus-mid-size-advertisers-performance-max-ai-2023-10">shaking up its sales strategy</a>.</li></ul><h2>What's happening today</h2><ul><li>Happy World Pasta Day! The observance is meant to highlight how pasta is a healthy, sustainable food.</li><li>Level up — it's Ciara's birthday. Katy Perry and Pablo Picasso were also born on this day.</li><li>Earnings today: IBM, Boeing, T-Mobile, Meta, Mattel, <a href="https://markets.businessinsider.com/earnings-calendar">and other companies</a>.</li></ul><h3>For your bookmarks</h3><h2>Trader Joe's frozen meals</h2><a href="https://www.insider.com/best-cheap-trader-joes-frozen-meals-2023-10"></a><div type="image" title="basket of trader joes frozen meals" height="975" width="1300" msid="104705813" hostid="261" sizebytes="204312"></div>Favorite frozen Trader Joe's meals — each under $6. The meals are a cheaper alternative to takeout. This reporter is particularly fond of the <a href="https://www.insider.com/best-cheap-trader-joes-frozen-meals-2023-10">mushroom ravioli and mini chicken tacos</a>.The Insider Today team: <a href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, senior editor and anchor, in New York City. <a href="https://www.businessinsider.com/author/diamond-naga-siu">Diamond Naga Siu</a>, senior reporter, in San Diego. <a href="https://www.businessinsider.com/author/hallam-bullock">Hallam Bullock</a>, editor, in London. <a href="https://www.businessinsider.com/author/lisa-ryan">Lisa Ryan</a>, executive editor, in New York.

Startup workers are on edge

<ul class="summary-list"><li>Restaurant chains have been increasing prices on delivery menus since before the pandemic.</li><li>Insider found prices for Chipotle, Chick-fil-A, and McDonald's were 20% to 38% higher on delivery apps.</li></ul>It's no secret that restaurants have <a target="_blank" href="https://www.businessinsider.com/mcdonalds-1-dollar-menu-myth-most-cost-more-2023-8">raised menu prices</a> to offset food inflation and escalating employee wages over the past two years.Chipotle has raised prices five times since June 2021, but has not increased prices in 2023. Dollar items on McDonald's <a target="_blank" href="https://www.businessinsider.com/mcdonalds-1-dollar-menu-myth-most-cost-more-2023-8">$1 $2 $3 Dollar Menu</a> are vanishing.While consumers are paying more for fast-food burgers and burritos at their favorite chains, what they might not realize is that they are paying even more for the same foods bought on delivery apps, as Insider found after researching prices at Chipotle, McDonald's, and Chick-fil-A.The prices for combo meals and entrees listed on DoorDash and Uber Eats were 20% to 38% higher compared to in-store prices. Even sides and ingredients such as guacamole and tomatoes cost more on delivery apps. The move to raise menu prices on delivery apps comes as dozens of cities across the US have placed <a target="_blank" href="https://www.protectourrestaurants.com/fee-caps">fee caps</a> on delivery providers to help the bottom lines of restaurants.DoorDash and Uber Eats said restaurants, not they, set prices on their apps. And, delivery prices continue to go up despite fee caps.At a McDonald's in Orange, California, Insider found that a Quarter Pounder with Cheese meal cost $10.19. On DoorDash, the price is $12.23. On Uber Eats, it jumps 38% to $14.09. The price doesn't include delivery fees, taxes, and tips.Insider also discovered that delivery prices for the same restaurant chain can vary by location. One Chipotle restaurant listed a bowl on DoorDash for $11.50, while another one nearby priced that same bowl at $11.85.DoorDash said it encourages restaurants to "maintain delivery menu prices that more closely reflect in-store menu prices."McDonald's and Chick-fil-A declined to comment for this story."There is a premium associated with the delivery channel," Chipotle told Insider, adding that its delivery prices are about 30% above in-store and order-ahead menu prices.Here's what I discovered researching prices at Chipotle, McDonald's, and Chick-fil-A restaurants near my home in Orange, California.<h2>Chipotle</h2><div type="image" title="Chipotle doorstep delivery" height="1512" width="2016" msid="103536311" hostid="261" sizebytes="191236"></div>At Chipotle, a chicken bowl cost $8.85 at a restaurant near Chapman University in Orange.When I ordered that same meal on the DoorDash app, the Chipotle chicken bowl jumped to $11.50, nearly 30% more than the restaurant's price. With service fees, taxes, and a suggested $2.50 tip, the total for delivering the chicken bowl through DoorDash was $17.89. (Note: This order came with no delivery fee. I am not a member of DashPass, which offers zero fees on delivery.)Guacamole prices also jumped when ordering delivery. A side of guac cost $3.45 on DoorDash, compared to $2.65 in the restaurant. A side of queso blanco also increased by 30% from $2.65 in the restaurant to $3.45 on the DoorDash app.This next order was a shocker. When I ordered delivery through the Chipotle app, the chicken bowl was the same price as on DoorDash, $11.50.Shouldn't Chipotle give consumers a break for ordering within its own app? This type of order, known in the industry as <a target="_blank" href="https://www.businessinsider.com/meet-the-doordash-power-players-leading-the-food-delivery-app-2022-4#casey-north-vice-president-doordash-drive-6">white-label delivery</a>, is cheaper for Chipotle because it's only paying DoorDash a fee to deliver food. It's not paying DoorDash a fee to be listed on its app, or marketplace.The delivery total from the Chipotle app was $18.37. That included a $1 delivery fee, a $2.50 suggested tip (equal to the DoorDash tip), and $3.37 in taxes and other fees.The head-scratcher conclusion: It is more cost-effective to order delivery from DoorDash than within the Chipotle app.Chipotle said its delivery premiums "are comparable with peers" and consumers don't appear to be balking."Historically, these customers have been less sensitive to menu price markups and have an understanding that there's a cost associated with the convenience," the company told Insider. "Chipotle is consistently ranked high from consumers in terms of its value."Still, the chain has seen digital orders decrease over the past two years as a percentage of sales. In its latest quarter, digital sales represented 38% of sales. That's down from 48.5% in the same quarter two years ago.<div type="image" title="Insider found two different prices from two different Chipotle restaurants for the same meal on DoorDash " height="1080" width="1440" msid="103536313" hostid="261" sizebytes="54342"></div>Lastly, I thought I was experiencing an Uber-style surge pricing strategy when I found delivery prices changing from one day to the next at Chipotle. I ordered a Chipotle chicken bowl from DoorDash on a Monday. It cost $11.50 around lunchtime. The next day, I rechecked the price. It was $11.85 on DoorDash.But, after bringing this to the attention of Chipotle and DoorDash, they told me menu prices can vary by location.Chipotle said my order "was placed from one location on Monday and Tuesday, you were viewing a different location with a different menu price of $11.85 as there are a variety of Chipotle locations within your range."<h2>McDonald's</h2><div type="image" title="McDonald's quarter pounder with cheese" height="1209" width="1724" msid="103536315" hostid="261" sizebytes="68112"></div>I compared prices on a Quarter Pounder with Cheese meal at McDonald's and found markups ranging from 20% to 38% for delivery.At my local restaurant, the combo meal cost $10.19. On DoorDash, the same meal cost $12.23. That's a 20% markup. On McDelivery, delivery orders made through the chain's app, the meal was also $12.23. McDelivery orders are fulfilled by Uber Eats.When I went to the Uber Eats app, the same burger meal shot up 38% to $14.09.McDonald's did not return a request for comment.Uber Eats told Insider that merchants set their menus and prices.Uber Eats didn't respond when asked if it had any policies regarding elevated pricing on the app. But, according to the <a target="_blank" class="editor-rtfLink" href="https://www.wsj.com/business/hospitality/who-should-eat-the-cost-of-pricier-delivery-menus-restaurants-or-consumers-f918de28?utm_source=substack&amp;utm_medium=email">Wall Street Journal</a>, Uber Eats alerts customers in some cities that delivery menus might be priced higher than in stores.<h2>Chick-fil-A</h2><div type="image" title="Chick-fil-A Sandwich with receipt with tomatoes and lettuce" height="1512" width="2016" msid="103536318" hostid="261" sizebytes="154656"></div>At Chick-fil-A, I compared prices for the traditional fried chicken sandwich.The sandwich, with no extras, cost $5.69 in the restaurant. The price jumped nearly 30% to $7.39 on DoorDash. Adding extra ingredients costs more in the restaurant and on DoorDash.For example, adding lettuce and tomatoes to the sandwich costs 40 cents more in the restaurant. Adding those same ingredients on DoorDash costs 50 cents more for a total of $7.89, compared to $6.09 in the restaurant.When I asked the cashier how much they are charging for lettuce and tomato, he seemed startled and didn't respond. A manager-type stepped in, and told me: "It's not that much."<h2>Conclusion: 'Blunt instrument' markups are not sustainable, says one restaurant pricing expert</h2><a target="_blank" href="https://www.nrn.com/fast-casual/noodles-and-company-introduces-10-premium-pricing-delivery">Premium pricing</a> on delivery food has been around since before the pandemic. But lately, customers are starting to notice extreme price inflation – and they don't like it, according to DoorDash."Marked-up menu prices are one of the top customer complaints DoorDash receives," the delivery operator told Insider. "This is one reason – among many – why DoorDash encourages restaurant partners to maintain delivery menu prices that more closely reflect in-store menu prices."DoorDash said restaurants that mark up menu prices can see up to 37% fewer sales and up to 78% lower reorder rates. The data is based on a March 2023 survey of 4,500 small and medium-sized restaurants on DoorDash during a four-week period.DoorDash said it "reserves the right to remove merchants" from its platform if they degrade the overall customer experience. That includes booting merchants who engage in extreme markups."This could be due to extremely poor customer ratings, poor quality metrics, or extreme levels of price inflation," the company told Insider.DoorDash declined to reveal how high a markup must be for a restaurant to be removed from its system.Ashwin Kamlani, CEO of restaurant dynamic-pricing firm Juicer, said consumers are willing to pay a premium on delivery "when it's reasonable."But that's starting to change."The blunt instrument of 20% to 30% 'inflation' on delivery apps isn't sustainable, and now, with the industry shifting to value, calculating the right offer is paramount," said Kamlani.His food tech startup plans to release a product next year that will show consumers how much they save when they order directly from a restaurant versus a delivery app.When it goes live in, it should be another eye-opener for diners."We believe that most consumers don't know about how much they could save by ordering direct," Kamlani said. "And if the industry comes together to educate the consumer, it could initiate a wave of change in consumer behavior."

I bought meals from Chipotle, Chick-fil-A, and McDonald's in-store and online. I was shocked by menu markups as high as 38% for the delivered food.

<ul class="summary-list"><li>Instacart confirmed on Sunday it was using AI-generated imagery and recipes.</li><li>The results were very weird: Chickens were conjoined, hot dogs looked like tomatoes, and more.</li></ul>Instacart scrubbed some AI-generated food images after <a target="_blank" href="https://www.businessinsider.com/instacart-ai-art-recipes-photos-2024-1">a Business Insider article on the delivery company's use of AI</a>. The images began raising eyebrows on the Instacart subreddit in early January, when <a target="_blank" href="https://www.reddit.com/r/instacart/comments/1acd3f2/instacart_is_using_poorlymade_aigenerated_photos/">users started to compile their favorite absurdities</a>.The AI images featured physically impossible compositions, unnatural shadows, and strangely blended textures. For instance, pictures accompanying a recipe for "Chicken Inasal" showed two chickens conjoined at the shoulder, while the "Hot Dog Stir Fry" photo showed a slice of hot dog with the interior texture of a tomato.<div type="image" title="Side by side of two gross food pics probably made by a machine" height="1500" width="3000" msid="107303717" hostid="261"></div>All of the recipes highlighted in the earlier BI article appear to have been taken down from the Instacart website. Other recipes discovered by Reddit users, meanwhile, had the AI-generated images replaced with what appears to be stock photography. (Take for instance, an AI-generated photo for "Simple Steamed Broccoli Crowns" which attempted to <a target="_blank" href="https://preview.redd.it/xfz4vvlxi6fc1.jpg?width=640&amp;crop=smart&amp;auto=webp&amp;s=824571f8b526172b637f8e97daee8793a65a3cad">put notched crowns in the stems of broccoli</a>, and is now replaced by <a target="_blank" href="https://affiliate.insider.com?h=0f986f0efcab6b5ed84498b4070a6dca142fdc611bf866cb5224fa7ae36770a0&amp;postID=65baa798ecccec8902841c26&amp;postSlug=instacart-deletes-ai-generated-food-images-2024-1&amp;site=bi&amp;u=https%3A%2F%2Fwww.instacart.com%2Fstore%2Frecipes%2F335301-simple-steamed-broccoli-crowns">a generic image of cooked broccoli</a>.)Some AI-generated imagery was still live on Instacart's site as of Wednesday. The recipe for "Cheddar and Cream Cheese Sauce for Mac and Cheese" for instance, appears to be AI-generated, with a bizarre plating scheme, overly uniform lighting, and a pasta shape previously unknown to human cooks.<div type="image" title="What appears to be an AI-generated picture from Instacart's website." height="900" width="1200" msid="107303718" hostid="261"></div>Instacart publicly discloses that the photos and accompanying recipes were generated by AI, emphasizing that user discretion is advised.On Sunday, an Instacart spokesperson confirmed that imagery was AI-generated, adding that the company was "optimizing for the best user experience" to align with consumer expectations as generative AI technology matures.An Instacart spokesperson said generative AI is new, and the company continuously works to improve its product. "When we receive reports of AI-generated content that does not deliver a high-quality consumer experience, our team reviews the content and may remove it," they said in a comment given after publicationAI-generated food images have been employed elsewhere for online ordering. A startup is <a target="_blank" href="https://www.businessinsider.com/openai-and-foodtech-startup-create-restaurant-menu-image-generator-2023-2">using text-to-photo technology to create AI imagery</a> based just on menu descriptions to help restaurants build out online menus without paying for photography. More recently, users found what appeared to be <a target="_blank" href="https://www.insidehook.com/internet/did-uber-eats-use-ai-generated-food-photos">AI-generated imagery on Uber Eats</a> where the AI seemingly failed to realize a pizzeria offering a "medium whole pie" meant a pizza, not a sweet dessert.A June 2023 survey of 301 consumers showed respondents felt generative AI imagery <a target="_blank" href="https://conjointly.com/blog/generative-ai-in-marketing/">was aesthetically pleasing but untrustworthy</a>. For now, AI-generated images remain relatively easy to detect with the human eye. But as generative AI models rapidly improve and companies strive to bring down costs, the point rapidly approaches when they won't be. January 31, 2024, 5:00 pm ET: The story has been updated with comment from Instacart.

Instacart quietly deletes its unsettling AI-generated food pics 

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Hello! You could win a prize worth up to $480,000 during the Super Bowl. (I'm not talking about that 10-leg same-game parlay you're banking on.) DoorDash is giving someone <a target="_blank" href="https://www.businessinsider.com/doordash-super-bowl-ads-every-item-sweepstakes-2024-1">everything being advertised during this year's Super Bowl</a>.In today's big story, we're looking at the <a target="_blank" href="https://www.businessinsider.com/lawmakers-grill-tech-ceos-on-online-safety-2024-1">grilling tech CEOs</a> got during a contentious Senate hearing, <a target="_blank" href="https://www.businessinsider.com/linda-yaccarino-x-twitter-senate-hearing-csam-social-media-2024-1">with one notable exception</a>.What's on deck:<ul><li>Markets: The Fed <a target="_blank" href="https://www.businessinsider.com/did-federal-reserve-cut-interest-rates-continue-pause-inflation-recession-2024-1">paused interest-rate hikes again</a>.</li><li>Tech: Google cofounder Larry Page <a target="_blank" href="https://www.businessinsider.com/larry-page-bought-puerto-rico-island-cayo-norte-2024-1">spent $32 million on a private Puerto Rican island</a> in 2018.</li><li>Business: Investors aren't buying <a target="_blank" href="https://www.businessinsider.com/byron-allen-media-group-buy-paramount-offer-why-streaming-tv-2024-1">Byron Allen's $14.3 billion bid for Paramount</a>.</li></ul>But first, we're headed to Washington.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h2>The big story</h2><h3>Tech on trial</h3><div type="image" title="Photo of Big Tech leaders in the Senate" height="450" width="600" msid="107332949" hostid="261" sizebytes="31156"></div>Tech CEOs testified in a Senate hearing that turned into the type of fiery debates found on their social-media platforms.Executives for Meta, TikTok, X, Snapchat, and Discord were grilled by US lawmakers during a contentious Senate hearing on online child sexual exploitation.The hearing focused on what platforms are doing to keep young users safe and <a target="_blank" href="https://www.businessinsider.com/lawmakers-grill-tech-ceos-on-online-safety-2024-1">included tense exchanges</a>, Business Insider's Aaron Mok and Camilo Fonseca write.<a target="_blank" href="https://www.businessinsider.com/mark-zuckerberg-meta-faced-families-online-child-safety-senate-hearing-2024-1">The most shocking moment involved Meta CEO Mark Zuckerberg</a>, BI's Lauren Steussy reports. GOP Sen. Josh Hawley asked Zuckerberg to apologize to families in attendance whose children were harmed or died from the impacts of social media."No one should have to go through the things that your families have suffered, and this is why we invested so much," Zuckerberg said as he stood and addressed the families.Instagram, which is owned by Meta, came under fire last year over allegations it knowingly has <a target="_blank" href="https://www.businessinsider.com/news-today-november-28-instagram-advertising-ai-adtech-2023-11">millions of users under the age of 13 on its platform</a>.Meanwhile, TikTok CEO Shou Zi Chew, who is Singaporean, <a target="_blank" href="https://www.businessinsider.com/singaporean-tiktok-ceo-shou-zi-chew-repeatedly-asked-chinese-2024-1">grew agitated when he was repeatedly questioned</a> by Republican Sen. Tom Cotton about his citizenship and whether he has ties to the Chinese Communist Party.<div type="image" title="X CEO Linda Yaccarino" height="683" width="1024" msid="107332951" hostid="261" sizebytes="34370"></div>One CEO was able to avoid a majority of the fireworks: Linda Yaccarino.While Zuckerberg and Chew dealt with an onslaught of questions and accusations, X's Yaccarino <a target="_blank" href="https://www.businessinsider.com/linda-yaccarino-x-twitter-senate-hearing-csam-social-media-2024-1">left the hearing relatively unscathed</a>, BI's Katie Notopoulos writes.Yaccarino even touted that less than 1% of X users in the US are under 18. It's the type of statistic most social-media companies would be embarrassed by, <a target="_blank" href="https://www.businessinsider.com/linda-yaccarino-x-twitter-senate-hearing-csam-social-media-2024-1">Katie pointed out</a>, as young people are valuable to advertisers. (It's also a bit misleading, Katie added, as a <a target="_blank" href="https://www.pewresearch.org/internet/2023/12/11/teens-social-media-and-technology-2023/pi_2023-12-11_teens-and-social-media_0-01/">2023 Pew survey</a> found 20% of 13- to 17-year-olds use X.)But beyond trying to generate video clips they can tout to their constituents, lawmakers sought support from tech executives for various child-safety bills.Two of those — the "EARN IT Act" and the "STOP CSAM Act" — would enable tech companies to be sued for content on their platforms."There's no commission to go to that can punish you, there's not one law in the book [on online child safety] because you oppose everything we do, and you can't be sued," Sen. Lindsey Graham, told the CEOs. "That has to stop."We've seen Congress take a hard stance on Big Tech before, only to fall short of delivering actual results.But this time — whether because of bipartisan support or the fact real legislation is in the works — things feel different. <a target="_blank" href="https://www.businessinsider.com/facebook-mark-zuckerberg-senate-hearing-child-exploitation-social-media-law-2024-1">The result could be we actually see some changes</a>, Katie writes.<h2>3 things in markets</h2><div type="image" title="Fed Chair Jerome Powell" height="666" width="1024" msid="107332953" hostid="261" sizebytes="28248"></div><ol><li>No rate cuts from the Fed just yet. The Federal Reserve announced another pause in interest-rate hikes on Wednesday. Chair Jerome Powell <a target="_blank" href="https://www.businessinsider.com/did-federal-reserve-cut-interest-rates-continue-pause-inflation-recession-2024-1">dismissed hopes that a rate cut might come by March</a>, but some are still hopeful.</li><li>JPMorgan's dark horse CEO candidate. Troy Rohrbaugh, JPMorgan's <a target="_blank" href="https://www.businessinsider.com/jpmorgan-leadership-jamie-dimon-succession-2024-1">new co-CEO of commercial and investment banking</a>, has kept a fairly low profile at the bank for nearly 20 years. But his success in turning the bank's foreign-exchange business around and his experience managing risk <a target="_blank" href="https://www.businessinsider.com/troy-rohrbaugh-jpmorgan-jamie-dimon-succession-2024-1">make him a CEO option when Jamie Dimon retires</a>.</li><li>Commercial real estate is a sinking ship, and lenders want off. A community bank's decision to sell a $401 million portfolio of loans at a 7% discount <a target="_blank" href="https://www.businessinsider.com/banks-commercial-real-estate-loan-sales-debt-interest-rates-2024-1">shows how dire the market is getting</a>. And with $2.1 trillion of debt connected to commercial real estate coming due between now and the end of 2025, it's likely going to ramp up.</li></ol><h2>3 things in tech</h2><div type="image" title="Illustration depicting Larry Page" height="300" width="600" msid="107332956" hostid="261" sizebytes="12656"></div><ol><li>Google cofounder Larry Page bought a Puerto Rican island for $32 million. Records show that <a target="_blank" href="https://www.businessinsider.com/larry-page-bought-puerto-rico-island-cayo-norte-2024-1">Page purchased Cayo Norte</a>, an island east of Puerto Rico, in 2018. He used an LLC that BI previously identified as his — making it <a target="_blank" href="https://www.businessinsider.com/larry-page-sergey-brin-post-google-investments-businesses-wealth-2022-12">the fifth island we know belongs to Page</a>.</li><li>Elon Musk is fighting with Delaware. After a state judge blocked his $55 billion pay deal, Musk <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-leave-delaware-judge-blocks-pay-deal-2024-1">questioned whether Tesla should change its state of incorporation</a> to Texas. His <a target="_blank" href="https://www.businessinsider.com/elon-musk-delaware-battle-goes-beyond-55-billion-pay-package-2024-1">gripe with Delaware is about more</a> than just his massive compensation package — it's about his ambitions for Tesla and SpaceX, too. Meanwhile, Neuralink executive Shivon Zilis, who shares twins with Musk, defended his <a target="_blank" href="https://www.businessinsider.com/neuralink-shivon-zilis-defends-elon-musk-55-billion-pay-package-2024-1">Tesla pay package</a>.</li><li>The White House's AI advisor said "legislative discussions" about the tech are coming. Ben Buchanan told BI the White House wants creators of copyrighted content "appropriately compensated" when it comes to AI. <a target="_blank" href="https://www.businessinsider.com/white-house-ai-copyright-debate-2024-1">Check out our full Q&amp;A with Buchanan</a>.</li></ol><h2>3 things in business</h2><div type="image" title="Paramount water tower and Byron Allen" height="3000" width="3000" msid="107332958" hostid="261" sizebytes="279282"></div><ol><li>Media entrepreneur Byron Allen wants to buy Paramount for $14.3 billion. Wall Street doesn't think that's going to happen. Investors don't think it's worth any more than $10 billion. <a target="_blank" href="https://www.businessinsider.com/byron-allen-media-group-buy-paramount-offer-why-streaming-tv-2024-1">So why does Allen think it is</a>?</li><li>The US economy is tops among rich countries. Outlooks for other G7 nations show <a target="_blank" href="https://www.businessinsider.com/economy-us-gdp-inflation-federal-reserve-economic-growth-canada-germany-2024-1">slower growth and higher inflation</a> than the US. It's also far outperforming the world's second-largest economy, China, <a target="_blank" href="https://www.businessinsider.com/china-economy-us-trade-markets-investors-policy-beijing-finance-outlook-2024-1">which is facing several economic headwinds</a>.</li><li>Ken Griffin sounds off on China. The hedge fund billionaire said any issues cropping up in Taiwan would be "catastrophic" for the <a target="_blank" href="https://www.businessinsider.com/ken-griffin-chinese-invasion-taiwan-could-spark-new-great-depression-2024-1">Chinese and American economies</a>. He was also bummed to see <a target="_blank" href="https://www.businessinsider.com/ken-griffin-on-chinas-byd-ev-outperforming-elon-musks-tesla-2024-1">Chinese EV maker BYD overtake Tesla</a>.</li></ol><h2>In other news</h2><ul><li><a target="_blank" href="https://www.businessinsider.com/enhanced-child-tax-credit-parents-passes-house-business-tax-relief-2024-1">The House passes a bill to give parents a boosted child tax credit and businesses tax relief</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/elon-musk-start-shifting-tesla-state-incorporation-to-texas-2024-2">Elon Musk says the people have spoken, and he'll make moves to shift Tesla to be incorporated in Texas</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/alaska-boeing-737-max-9-door-blowout-company-response-earnings-2024-1">We now have more details on what happened with the Alaska Airlines door plug — and how Boeing plans to address quality issues</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/flexport-lays-off-15-of-workers-2024-1">Flexport has laid off 15% of its workers.</a></li><li><a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/how-tiktok-music-influence-is-put-to-the-test-in-umg-fight-2024-1">Inside TikTok's fight against the most powerful music label in the industry and what could happen next.</a></li><li><a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/yumi-organic-baby-food-startup-valuation-down-2024-1">Exclusive: Organic baby food startup Yumi has slashed its valuation after running low on cash</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/jeep-first-ev-electric-wagoneer-s-photos-2024-1">Jeep revealed its first EV: See inside the sleek, electric Wagoneer S</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/walmart-new-stores-expansion-2024-1">Get ready for a lot more Walmarts</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/roku-poaches-publicis-exec-jay-askinasi-ad-sales-2024-1">Roku is set to announce Publicis exec Jay Askinasi as its next ad-sales boss</a>.</li></ul><h2>What's happening today</h2><ul><li>Today's earnings: Meta, Apple, Amazon, and <a target="_blank" href="https://markets.businessinsider.com/earnings-calendar">other companies are reporting today</a>.</li><li>Today marks the start of Black History Month.</li></ul>The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/hallam-bullock">Hallam Bullock</a>, editor, in London. <a target="_blank" href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York.

A Senate hearing with top tech CEOs about online child safety had plenty of fireworks 

<ul class="summary-list"><li>Chef Andres Mendez moved to NYC and went from fast-food delivery driver to earning over $3M a year.</li><li>Mendez's income skyrocketed when he became a contract chef for Cook Unity, a meal subscription service.</li></ul>This as-told-to essay is based on a conversation with Andres Mendez, a 31-year-old chef in New York City. It has been edited for length and clarity.When I moved to the United States from Mexico in 2009, I had no idea how much my life would change.I arrived as a 16-year-old to join my brother and started working as a <a target="_blank" href="https://www.businessinsider.com/i-started-delivery-business-after-working-for-doordash-amazon-flex-2024-3">fast-food delivery driver</a>. 15 years later, I'm a chef who earns seven figures.Here's a breakdown of all my jobs and earnings and how I got to where I am today.<h2 id="577422ba-f51a-4738-86f9-e0795dcc610c">Food delivery driver, $500 a week</h2>My brother was already working in New York City when I arrived, so he asked if I would like to work at the same fast-food company he worked at. I started earning $500 a week.After two months of navigating the city's streets on a bicycle, I realized I didn't enjoy it.Everyone was always in a hurry, and I saw several delivery riders get into accidents. I decided to look for another job.<h2 id="415cfa81-8dec-4718-8083-426209e91f02">Chef's assistant, $620 a week</h2>I told a friend in the industry that I was ready to leave and wanted to get into cooking. I'm not trained as a professional chef, but I've always enjoyed cooking. As a young boy, I'd join my grandmother in the kitchen and help her make mixiote, a Mexican dish of meat and spices wrapped in a maguey leaf.My friend told me Essex World Café was seeking a chef's assistant. I applied and got the job.I learned a lot about camaraderie and teamwork. I also learned how to work with ingredients, make sauces, and prepare each type of meat.I worked eight hours a day and earned $620 a week. After three years, I felt I'd gone as far as I could in that position, so I looked for a job in a larger restaurant.<h2 id="28ac15cb-6bfb-4430-856f-d318dfedd7b1">Line cook, $710 a week</h2>My next role put me in the hot seat. Another friend also told me about this job. I became a line cook at Pacific Grill.<a target="_blank" href="https://www.businessinsider.com/guides/learning/line-cook-coding-boot-camp-online-courses-software-engineer-career-change-pandemic">Line cooks</a> work as a team. One manages the grill, another manages the fry, and, in the middle, someone handles the pans. I was in the middle in charge of pasta and sautéed vegetables.I never got bored. I loved the pressure of producing the perfect dish at a certain speed, but that pressure sometimes stressed me out.I stayed for two years but left when they closed the restaurant to remodel it in 2014.<h2 id="b69a2352-ac59-4608-ac17-038fd90aff15">Line cook, $820 a week</h2>I next joined a restaurant called Extra Virgin in the West Village in 2015.I was a line cook again, producing desserts and salads for $820 a week. I learned how to make Mediterranean foods and dabbled in making my own dressings.The owner was also the chef, so everything had to be perfect, well-arranged, and flavorful. I had a fantastic experience working in that restaurant and stayed for three years. The most challenging aspect was having the boss work alongside me in the kitchen.<h2 id="d27987ec-7878-456e-99cc-d46d39c4a31a">Dishwasher, $790 for four days a week</h2>My network grew, and another friend told me about a startup called Cook Unity in 2016. I didn't know anything about it and wasn't sure if it was for me, but my friend gave me the owner's number and asked me to call him.Cook Unity is a chef-to-customer meal subscription platform based in Brooklyn. Customers order ready-to-eat meals from an online menu and see which chef wrote the recipe. The chefs, who are private contractors, earn up to a $3 commission for every dish they sell that's prepared using their recipe.When I met the owner, he explained they were looking for chefs but didn't have any line cook positions available. I had gained a lot of experience and knew a lot of recipes, but I didn't say I was a chef. The only other job they had available was a dishwasher. I wanted to be part of the company, so I became a dishwasher.Being a dishwasher is a very tough job, as the chefs want the kitchen to be immaculate at all times. Over the next year, I saw the dynamics of how the chefs and the team worked.I earned $790 for four days a week of work, so I had extra time for my music hobby. I played in a mariachi band and still play when I can.<h2 id="e0f89e80-0768-442e-9caf-1b1998eabfba">Kitchen manager, $45,000 a year</h2>In 2017, I was asked if I would like to become a kitchen manager. My role was to work with the chefs and ensure they had all the ingredients they needed for the dishes.Each of the Cook Unity chefs has a different menu, so I had to learn about various ingredients from different parts of the world. I worked between 12 and 14 hours a day and earned a salary of $45,000 a year.I was a kitchen manager until the pandemic hit in 2020.<h2 id="1d777f39-d985-4ce0-91a0-972bd4b61fa8">Chef, $969,000 a year</h2>In 2020, I became a <a target="_blank" href="https://www.cookunity.com/chefs/andres-mendez">chef for Cook Unity</a>, transitioning from full-time employment to being a contractor. I started creating recipes, and the sous chefs and cooks made my dishes.At first, my dishes were only sold in New York, but during the pandemic, the need for food delivery services rose. My earnings started to increase.I receive a commission from the sale of each of my dishes. In 2021, I earned $969,000. Cook Unity expanded to Los Angeles, Miami, Chicago, Austin, Atlanta, and Seattle. Now, 85 sous chefs and cooks across the country produce my dishes.<h2 id="42f9f8d5-16a4-4b0e-bb11-8bb01b6ae33e">Chef, $3,000,000 a year</h2>By 2023, I was earning over $3 million. I sell 10,000 to 11,000 meals weekly in New York and Los Angeles. My goal is to sell that many in each of the other cities and continue to provide job opportunities.At first, my rise in earnings felt like a dream. It was a big accomplishment for me. My friends are extremely happy for me, and I offer advice to my friends who are chefs when they need it.During the week, I create recipes and cook, but on the weekends, I spend time with my wife and children.I bought a farm in Mexico where I employ 20 people. I plan to buy another home in Mexico or Texas. I'm extremely proud of how I can give my family a better life.

I moved to the US at 16 and went from fast food delivery driver to making $3 million a year. Here's how I did it.

<ul class="summary-list"><li>The hot-dog giant <a target="_blank" href="https://www.businessinsider.com/oscar-mayer-says-goodbye-historic-weinermobile-new-frankmobile-hot-dogs-2023-5">Oscar Mayer</a> is entering the plant-based industry with vegan hot dogs and sausages.</li><li>Bloomberg reported that they'd probably cost 40% to 60% more than the brand's traditional hot dogs.</li></ul>Oscar Mayer is entering the <a target="_blank" href="https://www.businessinsider.com/beyond-meats-sales-plant-based-meat-sales-fall-revenues-vegan-2023-8">plant-based-meat category</a> — but choosing the vegan option is going to cost you.The company is launching non-animal-meat hot dogs and sausages at retailers nationwide in the US later this year, and <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-03-06/oscar-mayer-vegan-hot-dog-kraft-heinz-khc-joins-with-bezos-backed-startup?srnd=homepage-americas&amp;embedded-checkout=true">Bloomberg</a> reported that they'd most likely cost 40% to 60% more than the brand's traditional hot dogs.A four-pack of bun-length Oscar Mayer NotHotDogs has a suggested retail price of $5.99, a spokesperson for the Kraft Heinz Not Company told Business Insider. But on Wednesday, an eight-pack of bun-length hot dogs made with meat was selling for $2.84 to $7.99 online at retailers in the Washington, DC, region.Oscar Mayer NotSausages have a suggested retail price of $7.99 for a four-pack.The <a target="_blank" href="https://ir.kraftheinzcompany.com/news-releases/news-release-details/hot-dog-kraft-heinz-not-company-launches-first-ever-plant-based">NotHotDogs and NotSausages</a> (with the latter available in Bratwurst and Italian flavors) are being developed through a partnership between Kraft Heinz, Oscar Mayer's parent company, and <a target="_blank" href="https://www.businessinsider.com/notco-raises-110-million-plant-based-nestle-for-millennials-2020-9?r=US&amp;IR=T">NotCo</a>, a Chilean plant-based-food company backed by Amazon's founder, Jeff Bezos.Lucho Lopez-May, the CEO of the joint venture, told Bloomberg that creating a non-meat hot dog was a "massive technological accomplishment."<div type="image" title="Oscar Mayer plant-based sausage products at a picnic" height="1687" width="3000" msid="108298284" hostid="261"></div>Still, the launch comes at a time when non-animal-meat sales have been waning after enjoying high demand during the early pandemic in 2020. Total US plant-based-meat sales slid 1% year-on-year to $1.4 billion in 2022, the latest year for which sales information is available, according to <a target="_blank" href="https://plantbasedfoods.org/2022-retail-sales-data-plant-based-food#:~:text=Our%20most%20recent%20data%20set,%2C%20and%20animal%2Dbased%20foods.">the Plant Based Foods Association</a>, a trade group.One reason: Many plant-based meats — such as the NotHotDog — still <a target="_blank" href="https://www.businessinsider.com/beyond-meat-healthy-taste-price-impossible-layoffs-2023-2">cost more than their animal-derived equivalents</a>.While manufacturers such as Beyond Meat and Impossible Foods have refined their recipes and manufacturing processes to become more efficient over the past several years, making soy, corn, and other ingredients taste like meat is still one of the most expensive parts of the process, according to a report by <a target="_blank" href="https://www.new-foodinnovation.co.uk/price-parity">New Food Innovation</a>, a UK-based startup accelerator.On their own, soy and other ingredients tend to be much cheaper than animal meats, per the report. But the fats, oils, flavorings, and other additions that make a plant-based burger look and taste like beef or other meats represent as much as 40% of the manufacturing cost. Meantime, the plant-based proteins themselves account for about 20%."Beef as an ingredient is more expensive, but it comes with inbuilt flavor, structure and fat, which plant-based options find costly to replicate," the report said.<a target="_blank" href="https://www.businessinsider.com/beyond-meat-vegan-plant-based-fake-meat-inflation-prices-restaurants-2023-2">Food inflation has also hit plant-based meat sales</a>, with some consumers picking less expensive forms of protein to save money.Retailers have been trying to narrow the price gap. Nearly five years ago, Beyond Meat CEO Ethan Brown set a goal: sell at least one of the company's products for the same price as its animal-based counterpart.Technically, Beyond did "achieve price parity with certain products in certain markets recently," Brown said during the company's February earnings call. But back in November, he said Beyond's attempts to reduce prices — and get customers to buy its burgers and sausages as part of their weekly grocery haul instead of just as an occasional novelty — had largely fallen short of expectations.And now, <a target="_blank" href="https://www.businessinsider.com/beyond-meat-price-increases-hikes-vegan-falling-sales-cost-margin-2024-2?r=US&amp;IR=T">Beyond is planning to raise prices</a> as it contends with sales declines.It tried to move from "the niche, early-adopter consumer that we do so well with to the mainstream consumer," Brown said in November, but "it didn't work."

A Jeff Bezos-backed startup and Oscar Mayer want to charge you a lot more for a meatless hot dog than a meaty one

<ul><li>An overall growth of 150% was recorded in the payments/salaries to gig workers between October 2021 and September 2022. </li><li>The potential of gig workers can grow further if online retail grows across the country. </li><li>The report predicts that the penetration of online retail was just 5% in 2019 and is expected to grow to 11% by 2024.</li></ul>As more e-commerce platforms enter the 10-minute delivery space, demand for gig workers has not only ballooned – but their monthly earnings have increased too. A report by StrideOne, a tech-enabled NBFC, titled ‘The Startup Economy Report 2022’ says that 25% of gig workers surveyed reported an over 50% rise in their monthly income as compared to their previous mode of livelihood – in the last one year. An overall growth of 150% was recorded in the payments/salaries to gig workers between October 2021 and September 2022, the report said. Majority of the gig workers are engaged in retail trade and sales which includes fast commerce like food and beverage, grocery, medicines delivery etc. Around 56% of the gig workers surveyed previously had full-time employment. “Startups are limiting their hiring of permanent employees. Gig workers have begun to replace these permanent employees,” the report said. The number of companies who shifted to a semi-gig workforce model has increased by 15% since October 2021. The potential of gig workers can grow if online retail expands across the country. The report predicts that the penetration of online retail was 5% in 2019, and is expected to grow to 11% by 2024. Non-farm sectors of <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> have the potential to add over 90 million gig jobs in the longer term, the report predicts. As of now, the <keyword id="3080230" type="General" weightage="20" keywordseo="gig-economy" source="Orion">gig economy</keyword> constitutes 1.5% of the total workforce in India and is expected to expand to 23.5 million by 2024 constituting 4% of the workforce. <cmsannotation type="cmsannotation" annotationid="Startup ecosystem of India" comment="subhead" text="Startup ecosystem of India"><keyword id="15794501" type="General" weightage="20" keywordseo="startup-ecosystem-of-India" source="Orion">Startup ecosystem of India</keyword></cmsannotation> The number of jobs created by the startup ecosystem of India, which is said to be the third largest in the world, grew by 78% CAGR between 2017 and 2022. It is further projected to grow at a CAGR of 24% from 2022-27. The ecosystem altogether created over 2 lakh jobs this year, according to the report. However, several startups like Byju’s, Udaan laid off several employees from its workforce as a part of their retrenchment due to funding winter. “The rapid growth phase and maturity of the ecosystem have unlocked tremendous appetite for scalability, alternate funding options, expansion into the global market and the capacity to enable millions of jobs. This meteoric rise of startups has made India the third largest startup ecosystem in the world and has significantly impacted the Indian economy showcasing the ability to contribute approximately 4-5% to the gross domestic product (GDP) of India,” said Ishpreet Singh Gandhi, founder, StrideOne. Sectors like textile, apparel and logistics however retain the title of being the biggest job creators in the country. The textile industry is said to be the second largest employer in India, which has given direct employment to 5 crore people, and 10 crore people in allied industries. Whereas, logistics sector currently employs 22 million people and is estimated to contribute 11% to the overall GDP of the country. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/indian-railways-backed-spacetech-startup-galaxeye-raises-3-5-million-in-seed-round/articleshow/96250010.cms">Indian Railways backed spacetech startup GalaxEye raises $3.5 million in seed round</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/will-be-lucky-if-we-grow-5-next-year-says-former-rbi-governor-raghuram-rajan/articleshow/96249572.cms">Will be lucky if we grow 5% next year says former RBI governor Raghuram Rajan</a>

A quarter of Indian gig workers’ salaries grew by 50% in the last one year

<ul><li>On Monday, Gunjan Patidar, Zomato’s co-founder and chief technology officer tendered his resignation.</li><li><keyword id="7349800" type="General" weightage="20" keywordseo="bharatpe" source="Orion">BharatPe</keyword>’s CEO Suhail Sameer has quit the top job to become its strategic advisor.</li><li>There has been a lot of churn in new-age companies like Nykaa, and also big techs like Meta India, WhatsApp Pay, Amazon India and more.</li></ul>New age companies in India have been hit by a flurry of exits by top executives, leaving them scurrying for replacements. This comes at a time when startups have been battling funding winter and elevated inflation, in a rising interest rate regime. BharatPe, a fintech is amongst those with multiple high profile exits, including its co-founder and former managing director Ashneer Grover, along with his wife Madhuri Jain Grover – who not only had to leave the company, but were also sued by BharatPe in December 2022 for ₹88.6 crore. The company alleged that both husband and wife engaged in misappropriation of funds including creating fake bills, enlisting fictitious vendors and so on. Adding to BharatPe’s woes is the <a href="https://www.businessinsider.in/business/startups/news/bharatpe-ceo-suhail-sameer-to-step-down-five-months-after-taking-over/articleshow/96703750.cms">departure</a> of its CEO Suhail Sameer on January 3. Sameer took over as the company’s CEO in August 2021, a year after being appointed as the company’s president. He will now serve as a strategic advisor starting January 7, 2023. Before Sameer, BharatPe witnessed the departure of four other high level executives last November. This includes Nehul Malhotra, head of PostPe which is BharatPe’s ‘Buy Now Pay Later’ arm. The others were the CTO Vijay Aggarwal; Rajat Jain, the chief product officer; and Geetanshu Singla, VP of technology. They moved on to pursue their own entrepreneurial passions, the company had then said in a statement. Zomato rocked by multiple top level exits, too Sameer’s resignation comes hours after Gunjan Patidar, Zomato’s co-founder and chief technology officer, tendered his resignation. Patidar was one of the first few employees of Zomato who built the core tech systems of the company. “Over the last ten plus years, he (Patidar) also nurtured a stellar tech leadership team that is capable of taking on the mantle of leading the tech function going forward. His contribution to building Zomato has been invaluable,” said the company. Patidar’s exit is the third high-level exit at the food delivery giant in two months. In November last year, another one of Zomato’s co-founders Mohit Gupta tendered his resignation. Its head of new initiatives Rahul Ganjoo; and Siddharth Jhawar, vice-president of global growth also quit in the same month. The list goes on as in September 2022, Zomato’s deputy CFO Nitin Savara also tendered his resignation. The company has been bleeding money and it reported a consolidated loss of ₹251 crore in Q2 FY23. New age companies’ top heads move in and out of big tech companies There is a lot of churn among top executives of new-age tech companies as well as big techs. Online beauty retailer Nykaa’s CFO Arvind Agarwal, who had been with the company through its IPO, quit and joined fintech major PayU as its India CFO, this November. On the other hand, new-age companies have also been able to attract executives from major companies into their fold as well. Case in point is Sugar Cosmetics who brought in Amit Aggarwal, Marico’s head of finance of its India business, as its CFO. Adding to it, Amazon India’s director of grocery, food and health Sameer Khetarpal resigned and moved to Jubilant FoodWorks as CEO, a franchisee that runs Domino’s Pizza, Dunkin Donuts outlets in India. Meta India country head Ajit Mohan tendered his resignation in November 2022, to join rival Snap as the President of Asia Pacific. Following this, WhatsApp India’s head Abhijit Bose and Meta India’s public policy head Rajiv Aggarwal also resigned. The latter joined Samsung India. WhatsApp Pay’s director and head Manesh Mahatme also left his position in September to join Amazon India as director, product and engineering. Last but not the least, another shocking exit was of Parag Agarwal, former CEO of Twitter who was fired by Elon Musk in October, a year after he was appointed for the position. Soon after his ouster, Agrawal changed his LinkedIn bio to “Not the CEO you are looking for”. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/radiant-cash-management-shares-debut-at-a-10-premium-after-company-reduces-ipo-size/articleshow/96727374.cms">Radiant Cash Management shares debut at a 10% premium after company reduces IPO size</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/shark-tank-indias-season-2s-sharks-meet-the-serial-investors-cas-and-iit-and-iim-alumni/articleshow/96714262.cms">Shark Tank India’s Season 2’s sharks: Meet the serial investors, CAs, and IIT and IIM alumni</a>

Zomato, BharatPe, Nykaa and more: the revolving door for top execs at new age companies

<ul class="summary-list"><li>Elon Musk frequently ate at Jack in the Box while working at his first startup in 1995, Musk's new biography revealed.</li><li>Musk's favorite dish there was the teriyaki bowl, which he ordered again when he revisited the chain along with Walter Isaacson.</li></ul><a href="https://www.businessinsider.com/tesla-ceo-elon-musk" target="_blank" rel="noopener">Elon Musk's</a> workaholic tendencies date back to his <a href="https://www.businessinsider.com/elon-musk-work-obsession-rto-remote-ceos-2023-9" target="_blank" rel="noopener">first startup, Zip2</a>, which he co-founded with his brother, Kimbal, in 1995. Zip2 was an online business directory with maps — which was eventually sold to AltaVista in 1999 <a href="https://www.businessinsider.com/elon-musk-critical-career-decisions-2014-10#1995-starting-zip2-his-first-company-3" target="_blank" rel="noopener">for $307 million</a>.Back then, he would often <a href="https://www.businessinsider.com/elon-musk-running-twitter-like-startup-sleeping-office-argued-coworkers-2023-2" target="_blank" rel="noopener">sleep at the office</a> and shower at the nearby YMCA and get angry at staff <a href="https://www.businessinsider.com/musk-really-angry-zip2-employees-not-working-after-9-pm-2022-10" target="_blank" rel="noopener">for not working past 9 p.m</a>.Musk's new biography, penned by Walter Isaacson and published Tuesday, sheds light on his favorite food while working at Zip2.Elon and Kimbal mainly ate at the fast food chain Jack in the Box, which – according to Isaacson's retelling — was cheap, open 24 hours, and just a block away from their office."I can still tell you every single menu item," Kimbal told Isaacson, "It's just seared into my brain."Elon's favorite dish? The San Diego, California, headquartered chain's teriyaki bowl, per Isaacson's book.The biography also detailed Elon Musk's nostalgic visit to Zip2's former office 27 years after starting the company. When he couldn't get into the building, Musk visited the neighborhood Jack in the Box.Musk told Isaacson, "I'm supposed to be fasting now, but I just have to get something here."He ordered the teriyaki bowl for himself — and a hamburger for X, his son with Grimes. He told Isaacson, "I wonder if it will still be here twenty-five years from now so X can bring his kids here?"<a href="https://www.jackinthebox.com/" target="_blank" rel="noopener">Jack in the Box</a> is a fast food chain founded in 1951. The <a href="https://www.businessinsider.com/trying-jack-in-the-box-for-the-first-time-best-chicken-strips-2022-8" target="_blank" rel="noopener">West Coast fast food classic</a> is known for its <a href="https://www.businessinsider.com/jack-in-the-box-breakfast-all-day-2014-3" target="_blank" rel="noopener">all-day breakfasts</a>. In 2021, the company announced that it was acquiring Del Taco <a href="https://www.cnbc.com/2021/12/06/jack-in-the-box-buys-del-taco-in-575-million-deal.html" target="_blank" rel="noopener">in a $575 million deal</a>.Musk isn't alone in loving fast food staples — <a href="https://www.businessinsider.com/steve-jobs-elon-musk-bill-gates-mark-zuckerberg-diets-2023-4" target="_blank" rel="noopener">Bill Gates</a> and Warren Buffett are also self-declared fans of Coca-Cola. And Buffett even famously claimed to <a href="https://www.businessinsider.com/warren-buffett-give-up-extra-year-of-life-eat-whatever-2023-4" target="_blank" rel="noopener">eat McDonald's and drink 5 cans of Coke</a> daily, telling CNBC, "I always tell people: I found everything I like to eat by the time I was six."Musk did not immediately respond to a request for comment from Insider, sent outside regular business hours.

An enduring food favorite of Elon Musk across 3 decades is Jack in the Box's teriyaki bowl

<ul><li><keyword id="1640900" type="PERSON" weightage="20" keywordseo="Online-grocery">Online grocery</keyword> segment will grow by 55% to reach 1.2% of the market by 2023, said a report by RedSeer and <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword>. </li><li>Today online grocery startups account for 40% of total e-commerce funding in India. </li><li>Startups in the online grocery sector have raised $665.70 million in funding in 2019 so far.</li></ul>The Indian online grocery segment is growing fast and how. Currently the online food and grocery retail holds a miniscule part of online retail with only 0.2% penetration. But it is predicted to grow by 55% to reach 1.2% of the market by 2023, said a report by RedSeer and BigBasket. The market size of this segment will also expand to $10.5 billion, the report predicts. The customers’ trust on online shopping along with the growing presence of e-grocery players will drive this growth in the sector, added the report. “The online grocery segment has been one of the fastest-growing e-commerce verticals in India and will continue to flourish in both metro and non-metro cities in the years to come,” said Hari Menon, Co-Founder and CEO, bigbasket. Online grocery vs E-commerce in India As Indians are used to visiting the kirana store in the next lane, online grocery has been growing slowly since onset in 2010. In the past few years however it picked up speed. As the number of e-commerce users grew it had a slow but steady effect on online grocery purchases. From a barely any presence in 2010, today online grocery startups account for 40% of total e-commerce funding in India. 
 
 
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 So, what led to this growth? “The online grocery space in India has accelerated due to the increasing penetration of internet in millions of households across the country, rise in smartphone usage, enhanced customer comfort and trust in e-tailing and a better value for money for customers in online vs offline stores. Besides, availability of value for money products, better savings vs offline stores and cashback led by subscription-based programmes further ensure affordable pricing and scheduled delivery to make this space exciting,” said Albinder Dhindsa, Co-founder, <keyword id="2466939" type="PERSON" weightage="20" keywordseo="Grofers">Grofers</keyword>. Startups in the online grocery sector have raised $665.7 million in funding in 2019 so far, with Bigbasket turning a unicorn. Grofers, a soonicorn (soon to turn unicorn) made a comeback with a $200 million funding led by Softbank. Here are the top 20 funded startups in the e-grocery segment. 
 
 
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 Tier 2 &amp; 3 cities to lead the next phase of e-grocery Online grocery’s dream to reach $10.5 billion by 2023 will not be fuelled solely by urban growth. A big share of this will come from Tier 2 and 3 cities. Grofers co-founder Dhindsa believes that the next big thing in e-grocery is increasing penetration of e-commerce in tier-2 markets and amongst lower SECs (socio-economic classification) in metros. “E-grocery will bring more shoppers into e-commerce as a whole and already 15% of our new users every month are first time online shoppers. Growing disposable income of the consumers in Tier II markets and the adoption of 4G has already laid a strong foundation for the next wave of growth for e-commerce,” he said.

Online grocery may become a $10 billion industry by 2023 but even then only one in 100 Indians will be buying

These 44 pitch decks helped fintechs disrupting trading, investing, and banking raise millions in funding

<ul class="summary-list"><li><keyword id="14197216" type="UNKNOWN" weightage="60" keywordseo="cirkul" source="Orion">Cirkul</keyword>, which makes a TikTok-famous water bottle, is now valued at $1 billion. </li><li>The brand makes inexpensive flavor cartridges that get inserted into a proprietary water bottle.</li></ul>Early last year, a water bottle went viral on TikTok. Now, the company that makes it is valued at $1 billion. Cirkul, a 4-year-old beverage startup, announced a $70 million funding round Monday that sent its valuation soaring more than 500%. The brand owes its success to fan videos posted online, which led to its <keyword id="14197217" type="UNKNOWN" weightage="60" keywordseo="water-bottles" source="Orion">water bottles</keyword> getting stocked on <keyword id="11893281" type="UNKNOWN" weightage="60" keywordseo="walmart" source="Orion">Walmart</keyword> shelves in April, <a href="https://www.bloomberg.com/news/articles/2022-06-13/cirkul-water-becomes-tiktok-famous-now-valued-at-1-billion">Bloomberg reported</a>. Cirkul's founder and CEO, Garrett Waggoner, told Bloomberg that the idea for the company came to him while he was a college football player trying to pour messy flavor powders into water bottles. With Cirkul's system, you fill up your bottle with water, then insert a flavor cartridge and adjust the flavor intensity — no mess required.Cirkul offers more than 50 flavors, which range from mango grapefruit to vanilla iced coffee. One cartridge will flavor multiple bottles of water before needing to be replaced, the company says. In that way, Cirkul has positioned itself as a sustainable alternative to canned seltzer or bottled water. The company says it uses 84% less plastic than single-use plastic bottles, and touts the reusability of its cartridges — on average, each holds enough flavor for six bottle refills — as being "fun and convenient for folks to enjoy water in their way and also do a good thing for the planet," Waggoner told Bloomberg.Cirkul videos currently have 1.2 billion views on TikTok, and Bloomberg reports that since launching at Walmart, the brand has sold 1.5 million units and become one of the top performers in Walmart's home department.Affordability may have something to do with it: a 22-ounce Cirkul bottle starts at $15, while the flavor cartridges — called sips — cost $3.75 apiece. But Cirkul isn't the only startup that's tried to tap into the <a href="https://www.businessinsider.com/millennials-love-sparkling-water-spiked-seltzer-lacroix-truly-white-claw-2019-7">flavored water craze</a>. LifeFuels, a smart water-bottle startup backed by Keurig Dr. Pepper, made a water bottle that dispensed sports-drink concentrates and retailed for $180. But the company shut down in late 2021 due to the pandemic's "crippling" impact, <a href="https://www.bizjournals.com/washington/news/2021/03/11/lifefuels-water-bottle-startup-shuts-down.html">Washington Business Journal reported</a>.

You Searched For "online food startup" and got 12 results

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You Searched For "online food startup" and got 12 results

Startup workers are on edge

Dan DeFrancesco

I bought meals from Chipotle, Chick-fil-A, and McDonald's in-store and online. I was shocked by menu markups as high as 38% for the delivered food.

Nancy Luna

Instacart quietly deletes its unsettling AI-generated food pics

Jake Swearingen

A Senate hearing with top tech CEOs about online child safety had plenty of fireworks

Dan DeFrancesco

I moved to the US at 16 and went from fast food delivery driver to making $3 million a year. Here's how I did it.

Claire Turrell

A Jeff Bezos-backed startup and Oscar Mayer want to charge you a lot more for a meatless hot dog than a meaty one

Grace Dean,Alex Bitter

A quarter of Indian gig workers’ salaries grew by 50% in the last one year

Vaamanaa Sethi

Zomato, BharatPe, Nykaa and more: the revolving door for top execs at new age companies

Bhakti

Rounak

An enduring food favorite of Elon Musk across 3 decades is Jack in the Box's teriyaki bowl

Kai Xiang Teo

Online grocery may become a $10 billion industry by 2023 but even then only one in 100 Indians will be buying

Sanchita Dash

These 44 pitch decks helped fintechs disrupting trading, investing, and banking raise millions in funding

Shannen Balogh,Anita Ramaswam…

Cirkul, a water bottle brand that went viral on TikTok and became a top-seller at Walmart &mdash; is now worth $1 billion

Avery Hartmans

Popular Keywords

Buying Guides

Cirkul, a water bottle brand that went viral on TikTok and became a top-seller at Walmart — is now worth $1 billion