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<ul class="summary-list"><li>Verily, Alphabet's life sciences group, is preparing to detach from Google.</li><li>Verily has told employees it ultimately intends to become an independent company.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/alphabets-verily-layoffs-google-employees-molecular-science-immune-profiler-r2024-3">Verily</a>, Alphabet's life sciences subsidiary, has set a deadline of December 16 to sever multiple ties to <a target="_blank" class="" href="https://www.businessinsider.com/google-workspace-chief-stepping-down-leaked-memo-2024-11">Google</a>, according to two people familiar with the matter and internal documents reviewed by Business Insider.The company has been working to remove itself from the tech and services it shares with Google, such as its cloud infrastructure and employee benefits. While Verily will still be part of the Alphabet holding company after the December deadline, Verily leaders have told employees the separation efforts are crucial to eventually becoming a fully independent company.Verily, formerly known as Google Life Sciences, started life as a moonshot project inside Google X. It now offers health-related technology services and products, including retinal scanning, clinical trial management, and Lightpath, an AI-powered platform for chronic care."In order to one day become an independent company, Verily must first separate from Google's infrastructure and systems and stand up and operate its own," explained one of the documents reviewed by BI.Verily's effort to separate itself from Google is being driven by its secret <a target="_blank" class="" href="https://www.businessinsider.com/verily-secret-internal-project-flywheel-untangle-technology-alphabet-google-2021-9">Flywheel</a> project, which Business Insider first reported on in 2021."Project Flywheel is the effort that allows us to do this - and is therefore an essential stepping stone on this journey and path to independence," one of the recent internal documents explained.Lately, Verily employees have been issued new laptops, new office badges, and new email addresses that are no longer aliases of the Google email domain, according to one of the people familiar with the matter. The people who spoke to BI asked to not to be identified discussing private matters.Employees will also lose access to Google's employee benefits by the end of December and will receive new benefits fully dictated by Verily, according to one of the internal documents.In the past, Verily leadership has dangled the possibility of spinning off Verily as a public company. One employee told BI that an IPO is still held up "as a carrot" to staff, but it's possible Verily might pursue a different path outside Alphabet."We continue to aspire to be an independent company, but we do not have a set timing for independence at this time," one of the internal documents reads. A timeline for full separation could not be determined by BI."Verily is transitioning from Google's infrastructure to our own, as we continue to grow as an independent Alphabet company," said Verily spokesperson Steven Cooper. "This move enables us to advance our technology based on what's best for Verily and our healthcare and life sciences customers."<h2 id="3c22b081-9990-497f-86a3-c3468b883a92">Uneven results</h2>When Google founders Larry Page and Sergey Brin shook up their company's corporate structure in 2015 and created Alphabet, the goal was to distance some of the more ambitious and costly projects from the main Search business. These projects would benefit from Google's deep pockets but could be nurtured into fully functioning businesses.The results have been uneven so far.Self-driving car division <a target="_blank" class="" href="https://www.businessinsider.com/waymo-cofounder-tesla-robotaxi-data-strategy-self-driving-2024-10">Waymo</a> has gained momentum, but some other projects have been <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-07-03/alphabet-shutters-mineral-licenses-ag-tech-to-berry-producer-driscoll-s">shut down</a> or scaled back amid increased pressure to rein in spending. The moonshot lab, X, has pulled back on graduating new companies into bets, as <a target="_blank" class="" href="https://www.businessinsider.com/google-layoff-moonshot-x-development-sergey-brin-larry-page-astro-2023-01">BI previously reported</a>.<h2 id="76386405-6710-42b2-aa3b-4dc68d634ce3">Can Verily stand on its own?</h2>Whether Verily can stand on its own two feet is still a big question among company insiders. Some current and former employees have criticized Verily's constant pivots between products and pointed to a revolving door of leaders and a mishmash of unrelated projects, which also include a wastewater testing business and a project to reduce mosquito-borne diseases.One of the documents reviewed by BI noted that Alphabet "will continue to be our largest investor" after the December separation. Verily announced a $1 billion investment round in 2022, which was led by Alphabet. It has raised at least $3.5 billion in total, according to Pitchbook data."We are one of the longest running bets, and as such, it makes sense that we are the first Alphabet company to embark on this journey," reads one internal Verily document.An internal Verily FAQ for staff broached the subject of why the company didn't start Flywheel until after its products were more mature."Verily's products are at different development stages ranging from those that already support a growing customer base to those that are in early development," the FAQ stated. "Since Flywheel is a large and complex multi-year effort, we want to execute on it in parallel to the on-going product development efforts so that both will be ready for separation from Google at around the same time."Are you a current or former Verily employee? Got more insight to share? You can reach the reporter Hugh Langley via the encrypted messaging app Signal (+1 628-228-1836) or email (<a target="_blank" href="mailto:hlangley@businessinsider.com">hlangley@businessinsider.com</a>).

Verily has a December deadline to cut important ties with Google, leaked documents show

<ul class="summary-list"><li>Pandemic-fueled inflation seems to be spurring voters to kick out leaders.</li><li>Incumbent governments have been punished in Britain, France, India, Japan, South Korea, and elsewhere.</li></ul>From London to Tokyo, Seoul to Cape Town, 2024 has been a year of sharp election swings. Now you can add Washington D.C. to the list.Donald Trump soundly beat Democrat VP Kamala Harris in the US election, faring better than in 2020 in virtually every part of the country and with nearly all demographic groups. The near-universal shift away from Democrats echoes voters' <a target="_blank" class="" href="https://www.businessinsider.com/voters-world-elections-against-ruling-parties-analysis-2024-7">rejection of incumbent political parties</a> across the world this year.The US vice president's late substitution for Biden as the Democratic candidate, and her decision to embrace his policies instead of distancing herself from them, meant she <a target="_blank" class="" href="https://www.businessinsider.com/harris-lost-biden-unpopularity-trump-election-2024-11">effectively ran as an incumbent</a>.In contrast, Trump's defeat in the 2020 presidential election race enabled him to run as a "change candidate" this cycle and promise to disrupt the status quo.<h2 id="4f519aa6-7d08-4663-8d7f-8e62f03fcb58">Voter backlash</h2>Analysts have <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-election-win-analysis-harris-immigration-abortion-economy-musk-2024-11">proposed many theories</a> as to why Harris lost, ranging from her gender and race, to her failure to reach out to <a target="_blank" class="" href="https://www.businessinsider.com/election-musk-cuban-trump-meme-stocks-gamestop-dogecoin-crypto-markets-2024-11">young men</a>, to her support of Israel's war with Gaza, to her campaign focusing too much on reproductive rights and preserving democracy and too little on immigration and the economy.But from a global perspective, it's little surprise she lost given how many incumbent governments on both the right and the left have received a drubbing this year. Here are just a few of them:<ul><li>Britain's Labour Party <a target="_blank" class="" href="https://www.businessinsider.com/uk-labour-party-back-in-power-rishi-sunak-concede-defeat-2024-7">ousted</a> the Conservative Party, or Tories, this summer.</li><li>France's National Rally party <a target="_blank" class="" href="https://www.businessinsider.com/france-elections-far-right-macron-le-pen-bardella-2024-6">secured</a> more seats in the country's assembly than in 2022.</li><li>Japan's Liberal Democratic Party <a target="_blank" class="" href="https://www.businessinsider.com/japan-prime-minister-shigeru-ishiba-shake-up-us-military-pact-2024-9">ceded</a> its parliamentary majority this fall.</li><li>Indian Prime Minister Narendra Modi <a target="_blank" class="" href="https://www.businessinsider.com/indian-election-results-shocking-blow-narendra-modi-2024-6">lost</a> his majority against expectations, forcing him to form a coalition government.</li><li>South Korea's Democrat Party snagged a majority in the country's legislature.</li><li>South Africa's African National Congress (ANC) party lost its majority.</li></ul>Moreover, the incumbent US party has now lost three consecutive presidential elections for the first time in more than a century, Jim Reid, a research strategist at Deutsche Bank, said in a note this week.<h2 id="0e2b6ba9-92e6-4498-aadc-0fbc022d984f">Paying the price</h2><a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/investing/what-is-inflation">Inflation</a> has been a key driver of the voter backlash. Prices of food, fuel, housing, and other essentials took off during the pandemic as governments spent heavily and lockdowns snarled global supply chains. In the US, inflation hit a 40-year high of more than 9% in early 2022 and was still above the Federal Reserve's 2% target this September."Trump's victory is the most powerful example this year of a political and economic environment that has been brutal for incumbents around the world and brought home the fact that inflation is political kryptonite," Tina Fordham, an independent strategist and advisor, said in a LinkedIn post this week.A key consequence of inflation has been central banks raising <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/banking/what-is-interest">interest rates</a> to curb spending, hiring, and investing, cooling price growth. The Fed raised its benchmark rate from nearly zero to north of 5% in under 18 months, raising many people's monthly payments on their credit cards, car loans, and mortgages.The central bank made its first cut this September and <a target="_blank" class="" href="https://www.businessinsider.com/federal-reserve-cuts-interest-rates-quarter-point-powell-inflation-election-2024-11">trimmed</a> a second time this week, broadly in line with peers such as the Bank of England and the European Central Bank.Surging prices and steeper interest rates has <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/big-short-michael-burry-jpmorgan-consumer-inflation-rates-banking-crisis-2023-4">squeezed households</a> in the US and many other countries. Voters appear to be fed up with onerous living costs and eager to kick out the leaders they blame for their struggles.Other issues, such as illegal immigration and the wars in Ukraine and the Middle East, have also spurred votes for change.<h2 id="508f4884-4bdf-4651-b7a6-4bb22f9f0fde">Demanding change</h2>In the US, those concerns are so powerful that they've trumped the <a target="_blank" class="" href="https://www.businessinsider.com/economic-outlook-pandemic-stock-market-crash-inflation-recession-rates-ai-2024-2">economic reality</a> of resilient growth, historically low unemployment, declining inflation, falling rates, and a record stock market. In a CNN exit poll, 72% of Americans said they were dissatisfied with the country's direction.Louis Perron, a political consultant author of "Beat the Incumbent: Proven Strategies and Tactics to Win Elections," said in a note this week that elections featuring an incumbent are "foremost a referendum on the incumbent."In Harris' case, he said "it would have probably taken a miracle to overcome the circumstances with respect to inflation and the border."People "can't pay for groceries with Democracy or reproductive rights," he added. "If the mood of the electorate is so sour, people just want to stop the bleeding."Similarly, Deutsche Bank's Reid wrote that voters are disappointed by how slowly their lives are improving amid cooler economic growth.He said they don't buy that incumbents can tackle immigration, some incumbent governments have had scandals, and voters have become "much more willing to change their vote from election to election."

Voters worldwide are angry about higher prices and keep punishing those in power

<ul class="summary-list"><li>US stocks ended Monday mostly higher, led by a surge in Tesla on the potential for easing autonomous vehicle rules.</li><li>The Nasdaq 100 rebounded after a more than 3% drop last week, which was partly influenced by the Fed's interest-rate outlook.</li></ul>US stocks traded mostly higher on Monday, partly driven by a surge in <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla.</a>Tesla stock jumped as much as 9% after <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-trump-reportedly-relaxing-self-driving-rules-tsla-2024-11">a report said</a> the incoming Trump administration was planning to ease regulations on autonomous vehicles.The <a target="_blank" class="" href="https://markets.businessinsider.com/index/nasdaq_100">Nasdaq 100</a> led the market higher, ending a five-day losing streak, while the <a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> gained slightly and the <a target="_blank" class="" href="https://markets.businessinsider.com/index/dow_jones">Dow Jones</a> edged lower.The gains in the Nasdaq on Monday come after last week's more-than-3% decline, which was exacerbated by comments from Fed Chairman Jerome Powell.Powell said in a Thursday speech that the Fed can take its time in lowering interest rates.Investors are now pricing in a 59% chance of a 25-basis-point rate cut at December's Fed meeting, down from 80% before Powell's comments, according to the <a target="_blank" class="" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME FedWatch tool</a>.Investors' top concerns this week include Nvidia's third-quarter earnings report, which is due after the market closes on Wednesday.For economic data, traders will be paying attention to housing starts and building permits, which are due out Tuesday morning. That will be followed by existing home sales and initial jobless claims, which are set to be released Thursday morning.Here's where US indexes stood at the 4 p.m. closing bell on Monday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,893.62, up 0.4%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 43,389.60, down 0.1% (55 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,791.81, up 0.6%</li></ul>Here's what else happened today:<ul><li><a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-election-win-high-inflation-risk-tariffs-deportations-taxes-2024-11">The stock market's Trump honeymoon is starting to turn sour</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/read-spirit-airlines-open-letter-customers-bankruptcy-keep-flying-booking-2024-11">Spirit Airlines filed for Chapter 11 bankruptcy protection on Monday.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/nvidia-blackwell-chip-ai-overheating-delay-share-price-2024-11">Nvidia's next-gen Blackwell GPU chip has reportedly hit an overheating snag.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/inflation-fed-rate-cuts-outlook-economy-trump-tariffs-tax-cuts-2024-11">Watch these 4 signs of re-inflation ahead of Trump's second administration.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-morgan-stanley-mike-wilson-bullish-11-upside-2024-11">Morgan Stanley strategist Mike Wilson turned bullish on stocks, issuing a 2025 year-end price target of 6,500 for the S&amp;P 500.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-trump-reportedly-relaxing-self-driving-rules-tsla-2024-11">Uber shares fell 5% following concerns that a Tesla autonomous vehicle network could impact its business negatively.</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil rose 3.32% to $69.14 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was higher by 3.18% to $73.30 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> increased 1.66% to $2,612.70 an ounce.</li><li>The 10-year Treasury yield dropped 2 basis points to 4.422%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> gained 1.58% to $91,300.</li></ul>

Stock market today: Tesla powers tech rally as Nasdaq snaps 5-day skid

Climate Action 15: 2024's top global innovators powering green solutions

<ul class="summary-list"><li>Uniqlo's parent recently reported record earnings for the third year running, bolstered by strong sales at Uniqlo.</li><li>The brand focuses on functional basics rather than chasing trends.</li></ul>Uniqlo is on to something.Its Japanese owner, Fast Retailing, posted record earnings for the third year running this month, with revenues at Uniqlo soaring 19% in international markets and 4.7% in Japan for the 12 months to August.The chain is thriving in the middle-market retail ecosystem alongside fast-fashion heavyweights like <a target="_blank" href="https://www.businessinsider.com/zara-website-memes-mocked-secret-success-aspirational-luxury-consumers-2024-10">Zara</a>, whose parent company reported a 10.2% increase in sales in constant currency during the first half of 2024. Sales at Zara alone were up 5.4%.H&amp;M Group, meanwhile, has lagged behind its competitors — its net sales were flat during the first nine months of the year.Uniqlo has built a successful business model by producing functional, basic clothing and eschewing the practice of fast-retail rivals who regularly drop new styles inspired by the latest catwalk shows.<h2 id="91ce3647-5965-48d3-8742-354cc9637d0a">Fitting the times</h2>Uniqlo opened its first store in Hiroshima in 1984.Known for its affordable basics and wardrobe staples, being a fashionable clothing store was never high on Uniqlo's agenda. Yet in recent times, it has found itself setting trends — its <a target="_blank" href="https://www.businessinsider.com/viral-quiet-luxury-uniqlo-bag-named-fashion-hottest-item-2023-4">$20 cross-body shoulder bag</a>, which has become a fashion staple and dubbed the "millennial Birkin," being one recent example.In 2006, it also <a target="_blank" class="" href="https://www.businessinsider.com/what-its-like-to-shop-gu-soho-uniqlo-sister-store-2023-9">opened GU</a>, a sister brand more focused on selling trendy clothes and targeting younger shoppers.But people have always needed basics, so Uniqlo's business model is in a sweet spot now more than ever as it aligns with evolving <a target="_blank" class="" href="https://www.businessinsider.com/quiet-luxury-explained-which-brands-will-benefit-2023-4">consumer tastes.</a>"It is good quality for the cost," 27-year-old Gen Z luxury fashion content creator Kate Yuille says about why her generation gravitates to Uniqlo. "People have started to notice that and are maybe suggesting it as an alternative to things like Pretty Little Thing or even H&amp;M."<div type="image" title="$20 Uniqlo shoulder bag" height="1298" width="2500" msid="114347976" hostid="261" sizebytes="50388"></div>Amrita Banta, managing director of luxury insights firm Agility Research &amp; Strategy, says Uniqlo's "classic and understated" collections appeal to consumers with different price points.Amid the <a target="_blank" class="" href="https://www.businessinsider.com/zara-inditex-pandora-thrive-amid-luxury-downturn-aspirational-consumer-trends-2024-9">downturn in luxury retail,</a> wealthy and aspirational consumers are warming to the idea of pairing designer pieces with items from midlevel brands — a trend that Gen Z has already been on for the last few years."I think the mix-and-match element of fashion that's happened works for them," Banta says. "You can wear a Moncler when you need to, but you can also wear a Uniqlo smart beige jacket and look pretty decent in it."<div type="image" title="Uniqlo shopper." height="667" width="1000" msid="114347969" hostid="261" sizebytes="44674"></div><h2 id="8536644e-bbb3-4172-b2cd-b7e611e5dd31">Leaning into sustainability</h2>Another marked difference between Uniqlo and fast fashion players is that people take its penchant for sticking to basics and functional clothing instead of producing a plethora of styles as aligning with the "slow fashion" movement."From the environmental point of view, I think consumers feel like you're sinning a little less by shopping Uniqlo because it just seems to be so much more understated," says Martin Roll, a global business strategist and senior advisor at McKinsey.It hasn't escaped greenwashing accusations in the past or allegations of human rights violations along its supply chains. And even though it is producing staple wardrobe pieces, it's producing a lot quickly.However, Uniqlo does have ambitions to become more sustainable. These include increasing the proportion of its clothing made from recycled materials, launching clothing repair studios, and aiming to <a target="_blank" href="https://affiliate.insider.com?h=a6903d4198da10faf0c3be5173745bb5daa5806a6caeba4e86a1676286976532&amp;postID=6707a6580c43543ec7b35218&amp;postSlug=why-uniqlo-is-winning-affordable-basics-doesnt-chase-trends-2024-10&amp;site=bi&amp;u=https%3A%2F%2Fwww.uniqlo.com%2Fus%2Fen%2Fnews%2Ftopics%2F2022042902%2F">reduce its greenhouse gas emission levels</a> by 90% by 2030.<h2 id="2274ff74-3475-415c-b57f-c2dd402a4fe8">Uniqlo thinks of itself as a tech company</h2><a target="_blank" class="" href="https://www.businessinsider.com/tadashi-yanai-net-worth-house-richest-person-japan-life-photos-2019-3">Tadashi Yanai</a>, CEO of Uniqlo and founder of Fast Retailing, once said, "Uniqlo is not a fashion company — it's a technology company."In practice, that means valuing product development and innovation through strategies such as collaborating with Toray, a material manufacturer headquartered in Japan that describes itself as devoted "to the development of new fields and materials" and producing "cutting-edge, high-value-added products."Yanai told The Telegraph in 2016 that he was not interested in chasing the ever-evolving cycle of fashion trends: "We want to sell good clothing to all people, not just the few."<div type="image" title="Uniqlo shop in Goya street in the Golden Mile in Madrid." height="960" width="1280" msid="114347971" hostid="261" sizebytes="133408"></div>That's why Uniqlo releases new collections seasonally, whereas rivals such as <a target="_blank" class="" href="https://www.businessinsider.com/fast-fashion-christmas-shopping-clothes-returns-shein-zara-waste-mountain-2022-12">Zara produce about 500 new designs weekly</a>.Roll says Zara has to be "sharp every day. "Uniqlo doesn't have the same pressure."Its stores are also neatly laid out and uncluttered."All the touchpoints are very well taken care of. You will never see a box of clothing getting in your way in one of the aisles," Roll adds.Innovation, the backbone of the tech industry, is also entwined with how Uniqlo markets collections like HeatTech, its thermal line, and Pufftech, its puffer jacket range."You feel like you're getting more for what you're paying," Yuille says, referring to the infusion of tech verbiage in Uniqlo's branding.<h2 id="7d63a423-14e0-4008-8ce1-06eef3f47cb3">The power of Japanese brand trust</h2>Japan's weak currency may be working to Uniqlo's advantage in Japan and its international markets — it makes shopping for tourists more appealing in its home market and boosts the value of its sales abroad. However, that's not the only reason its heritage is key to its winning streak.For one, there's a sense of trust among consumers for Japanese-founded brands as they have historically represented a feeling of quality and dependability, Roll says.<div type="image" title="First Retailing Chairman, President and CEO Tadashi Yanai speaks to the media after the business strategy press conference at Pacifico Yokohama on September 14, 2011 in Yokohama, Kanagawa, Japan." height="2000" width="3000" msid="114347966" hostid="261" sizebytes="226226"></div>And over the last 40 years, the company has leaned into this, writing its own rules rather than trying to compete with Zara and H&amp;M, Roll says.He thinks Uniqlo comes with "a bit of this myth of the Japanese psyche. Japanese design is uncluttered simplicity, down to earth, nature, balanced in the values. It doesn't try to pretend something which is bigger than they can actually deliver."

Why Uniqlo is thriving right now

<ul class="summary-list"><li>General Motors reported third-quarter earnings that topped estimates.</li><li>GM's profits were driven by strong SUV sales, EV growth, cost reductions, and improved China sales.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/gm-investment-electric-vehicle-supply-chain-lithium-batteries-2024-10">General Motors</a> reported strong third-quarter 2024 profits on Tuesday, topping Wall Street's estimates and helping send shares surging more than 9%.Executives attributed the financial outperformance — amid a tough year for Detroit as<a target="_blank" class="" href="https://www.businessinsider.com/ev-pile-up-dealer-lots-deals-discounts-leasing-2024-8"> EV demand stutters</a> and car pricing remains frustratingly high for consumers — to booming truck and SUV sales, improved EV profitability, cost-cutting, and strength in the Chinese market.<h2 id="b7f27158-651e-47b9-8b39-ddcdc353bf61">Truck and SUV profits underpin GM's profits</h2>GM previously reported a<a target="_blank" class="" href="https://www.reuters.com/business/autos-transportation/us-new-vehicle-sales-q3-seen-be-growing-weaker-pace-2024-10-01/"> slight fall in vehicle deliveries</a>, roughly in line with an industry dip in the three months ending September 30.But average pricing stayed high, at $49,349, buoyed by GM's lineup of <a target="_blank" class="" href="https://www.businessinsider.com/cadillac-escalade-2025-updates-tech-screens-lyriq-celestiq-2024-7">full-size pickups and SUVs</a> and fewer incentive offers than competitors.GM has launched over half a dozen<a target="_blank" class="" href="https://www.businessinsider.com/buick-envista-review-stylish-small-suv-great-price-2024-10"> new gas-powered SUV models </a>this year, including compacts like the Chevrolet Equinox and three-row family haulers like the Chevrolet Traverse and GMC Acadia. Consumers paid an average of $6,000 more for new cars than the models they replaced, GM CEO Mary Barra said on an earnings call with investors.<h2 id="89a7483f-5d32-461a-8a40-f5a976ee1a66">EVs still aren't profitable, but getting there</h2>As rivals lament slowing growth in the EV market, GM leaders are touting its investments in the segment as a point of strength — even as it suffers from the <a target="_blank" class="" href="https://www.businessinsider.com/ev-charging-range-improving-americans-still-dont-want-electric-cars-2024-9">same market fluctuations as competitors.</a>General Motors sold more than 32,000 EVs during the last three months, up 60% over last year. Of those who purchased a GM EV, more than 60% are conquests from other automakers, Barra said.The company now claims a 9.8% share of the US market, second only to <a target="_blank" class="" href="https://www.businessinsider.com/tesla">Tesla</a>.But <a target="_blank" class="" href="https://www.businessinsider.com/electric-vehicle-misconceptions-about-the-ev-transition-market-sales-2024-5">EVs still aren't profitable</a>. That inflection point is expected to arrive this quarter, Barra said at GM's recent investor day earlier in October.<h2 id="de0be7a2-00fb-46a2-b3d5-18af919bdb81">GM is working to turn around China</h2>GM's China business just enjoyed its best quarter since the same period of 2022, with sales up 14% from the second quarter of this year.Despite the sales growth, the company's China operations still lost $137 million during the third quarter.The <a target="_blank" class="" href="https://www.businessinsider.com/car-facebook-us-ford-china-tesla-spotify-tiktok-india-snap-2023-4">Chinese market,</a> the world's largest and once consistent profit center for GM, has been a drain on its finances over the past year due to increasingly strong competition.GM has worked to adjust its product mix in China to feature more EVs and plug-in hybrids.Barra praised the success of Buick's GL8 plug-in hybrid luxury minivan, which launched in April, as a new model driving <a target="_blank" class="" href="https://www.businessinsider.com/china-auto-sales-automakers-ford-gm-making-losing-market-share-2023-4">improvement in China.</a><h2 id="df9094fe-1ffa-4be3-b39c-8d9d962bf914">Cutting costs through simplicity</h2>GM expects to end 2024 with $2 billion less in fixed costs than two years ago, Barra said at the investor day.One major way is by simplifying the number of options and trims offered on vehicles, which can become overwhelming for shoppers."It's about making our customers' lives easier while also taking cost out of the system," GM President Mark Reuss said at the event.According to Reuss, GM has eliminated 2,700 unique parts, ranging from seat assemblies to wiring harnesses, from its inventory. On average the company is seeing a 10% reduction in total part numbers per vehicle.

4 reasons GM is crushing it right now

<ul class="summary-list"><li>Amazon discussed partnerships with other companies for an AI-powered Alexa upgrade.</li><li>Partners under consideration included Uber, Ticketmaster, and Instacart: internal document.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/aws-negotiating-huge-cloud-deal-supply-ibm-with-nvidia-gpus-2024-11">Amazon's</a> AI-powered <a target="_blank" class="" href="https://www.businessinsider.com/amazon-paid-alexa-plus-service-issues-2024-1">Alexa</a> upgrade could launch with several major partners handling specific tasks such as ride-hailing, grocery shopping, and restaurant reservations, Business Insider has learned.The companies under consideration are <a target="_blank" class="" href="https://www.businessinsider.com/uber-lyft-drivers-ask-riders-cancel-trips-pay-them-directly-2024-11">Uber</a> for ride-hailing, Ticketmaster for ticketing, Vagaro for local business booking, OpenTable for restaurant reservations, <a target="_blank" class="" href="https://www.businessinsider.com/us-diners-splurge-food-delivery-doordash-grubhub-ubereats-convenience-rules-2024-11">Grubhub</a> for food ordering, Instacart for grocery shopping, Fodors for travel advice, and Thumbtack for home services, according to an internal document obtained by BI.As of late August, those partner companies were "confirmed" to work with <a target="_blank" class="" href="https://www.businessinsider.com/amazon-seeing-surge-sales-cheaper-items-2024-11">Amazon</a> on this project and some of them were already being tested on the new Alexa's technology, the document stated. Amazon hopes to onboard a total of roughly 200 partners by the third year of launching the new Alexa and a paid subscription service for it, the document added.The partner companies would become the primary option for handling those specific tasks on the upgraded Alexa. These would be separate from existing Alexa Skills, which are third-party applications on the voice platform, according to the document. As with any partnership talks, such negotiations could end without final agreements being signed.Amazon is revamping Alexa with ChatGPT-like AI features, BI <a target="_blank" href="https://www.businessinsider.com/amazon-paid-alexa-plus-service-issues-2024-1">first reported in January</a>. Internally codenamed Banyan or Remarkable Alexa, the upgrade has the potential to significantly improve the voice assistant with AI features. However, issues like latency and inaccuracy have hampered the project's early progress.In an email to BI, Amazon's spokesperson said that, as with any product development process, a lot of ideas are discussed and debated, but "they don't necessarily reflect what the experience will be when we roll it out for our customers.""Our vision for Alexa is to build the world's best personal assistant. Generative AI offers a huge opportunity to make Alexa even better for our customers, and we are working hard to enable even more proactive and capable assistance on the over half a billion Alexa-enabled devices already in homes around the world. We are excited about what we're building and look forward to delivering it for our customers," the spokesperson added.Spokespeople for Uber, Ticketmaster, Vagaro, OpenTable, Grubhub, Instacart, Fodors, and Thumbtack didn't respond to requests for comment.<h2 id="90c1aa42-4f32-4431-8ed8-40c8b40b4453">Re-architecting "the brains of Alexa"</h2>Potential integrations with these partner companies are important for Amazon because completing entire tasks for users is a key part of the new Alexa's value proposition. An internal product description, obtained by BI, paints a picture of an advanced AI assistant capable of handling many types of user inquiries through multiple channels, not just voice.Amazon hopes the AI update will reignite interest in Alexa. The company has <a target="_blank" class="" href="https://www.businessinsider.com/amazon-alexa-job-layoffs-rise-and-fall-2022-11">significantly cut back on Alexa</a> in recent years, after the voice-assistant failed to establish a profitable business model. Some Amazon employees <a target="_blank" class="" href="https://www.businessinsider.com/amazon-paid-alexa-plus-service-issues-2024-1">previously told</a> BI that many inside the company believe Alexa's future hangs on the success of this new AI-infused assistant.For now, Amazon CEO Andy Jassy appears to be supportive. During last month's <a target="_blank" class="" href="https://www.businessinsider.com/amazon-stock-earnings-report-call-live-updates-2024-10">call with analysts</a>, Jassy said the company is re-architecting "the brains of Alexa" to create "the world's best personal assistant.""The next generation of these assistants and the generative AI applications will be better at not just answering questions and summarizing indexing and aggregating data, but also taking actions," Jassy said. "And you can imagine us being pretty good at that with Alexa."Do you work at Amazon? Got a tip?Contact the reporter, Eugene Kim, via the encrypted-messaging apps Signal or Telegram (<a target="_blank" rel="noopener noreferrer nofollow" class="c-link">+1-650-942-3061</a>) or email (<a target="_blank" href="mailto:ekim@businessinsider.com">ekim@businessinsider.com</a>). Reach out using a nonwork device. Check out Business Insider's <a target="_blank" rel="" href="https://www.businessinsider.com/insider-guide-to-securely-sharing-whistleblower-information-about-powerful-institutions-2021-10">source guide</a> for other tips on sharing information securely.

Leaked: Amazon held talks with Instacart, Uber, Ticketmaster, and others for help on its new AI-powered Alexa

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Good morning. Milton has strengthened once again into a Category 5 hurricane. Gas stations across Florida are already <a target="_blank" rel="noopener" href="https://www.businessinsider.com/florida-gas-stations-out-of-fuel-before-hurricane-milton-landfall-2024-10">running out of fuel</a> as millions of people try to flee.In today's big story, we got our first interest-rate cut, <a target="_blank" href="https://www.businessinsider.com/fed-interest-rate-cuts-outlook-economy-recession-no-landing-borrowing-2024-10">but it doesn't feel like it for many consumers</a>.What's on deck:<ul><li>Markets: Roblox is the latest target of <a target="_blank" href="https://markets.businessinsider.com/news/stocks/roblox-stock-price-short-seller-hindenburg-report-gaming-inflated-metrics-2024-10">short-seller Hindenburg Research</a>.</li><li>Tech: The DOJ is considering asking a judge to <a target="_blank" rel="noopener" href="https://www.businessinsider.com/google-search-antitrust-case-doj-remedy-alphabet-2024-10">break up Google</a>.</li><li>Business: Walt Disney World will temporarily <a target="_blank" href="https://www.businessinsider.com/disney-world-shut-down-hurricane-milton-florida-orlando-parks-2024-10">close its doors</a> for Hurricane Milton.</li></ul>But first, we're canceling the landing.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">So much for the help</h2><div type="image" title="Business person in a suit holding scissors, preparing to cut strings suspending a stack of cash, with a group of people standing below" height="1500" width="2000" msid="114087130" hostid="261" sizebytes="264596"></div>The US economy is having an Instagram vs. reality moment.Last month's interest-rate cuts were supposed to kick off a new era. After two years of battling inflation, the Federal Reserve finally claimed victory. More rate cuts were coming, which meant lower borrowing costs for everyone.<a target="_blank" href="https://www.businessinsider.com/fed-interest-rate-cuts-outlook-economy-recession-no-landing-borrowing-2024-10">But the relief many were hoping for isn't materializing</a>, writes Business Insider's Jennifer Sor. Let's break down why.We finally got an interest-rate cut, but borrowing costs are still high. What gives? First off, last month's interest-rate cut wasn't going to provide immediate relief. It takes time for cuts to trickle down to consumers. The Fed also telegraphed the cut, so the market started pricing it in.That seems fair, but borrowing rates are still rising in some cases. Yes, the average 30-year fixed mortgage rate <a target="_blank" href="https://www.businessinsider.com/mortgage-rate-increase-since-federal-reserve-cut-interest-rates-housing-2024-10">has gone up 47 basis points since the Fed cut rates</a>, writes BI's Matthew Fox.So the Fed cut rates but borrowing costs went up? How is that possible? You can thank the 10-year Treasury yield, <a target="_blank" href="https://www.businessinsider.com/economy-outlook-impact-of-rate-cuts-10-year-treasury-yields-2024-9">which is a key benchmark used by</a> lenders. It went above 4% this week for the first time since August.I'm confused. Why is there such a discrepancy between the two? The Fed's rate is focused on the short-term while the 10-year Treasury reflects a longer-term view (hence the name). As a result, the 10-year bond yield can diverge from the Fed's benchmark rate.Gulp So what does the 10-year Treasury rising mean for the economy? Big picture, it's a good thing. Thanks to a stellar jobs report, investors have a positive view of the economy's future. But the downside is we shouldn't expect the slew of rate cuts investors were banking on. The economy will likely avoid a recession and not need the help.Is this a soft landing or a hard landing? Neither. It's considered a "no landing" because the economy remains strong, but in a way that risks reigniting inflation, which would hamstring the prospect of future stimulative rate cuts.What's with all the aviation metaphors? I don't know.OK, so at this rate, will I ever be able to buy a house? It's honestly not as bad as it seems. BI's James Rodriguez, who's covered the housing market for a while, <a target="_blank" href="https://www.businessinsider.com/housing-market-ice-age-homebuyers-mortgage-rates-spring-real-estate-2024-10">has a piece on why the industry's ice age is starting to thaw</a>. There was a 34% year-over-year increase in active listings in September. More inventory will help unstick the economy.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li>The Kremlin says <a target="_blank" rel="noopener" href="https://www.businessinsider.com/kremlin-says-trump-sent-putin-covid-tests-pandemic-denies-calls-2024-10">Trump sent Putin COVID tests</a> during the pandemic, but denies subsequent calls.</li><li>Boeing's negotiations with union leaders <a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/boeing-strike-negotiations-union-leaders-break-down-after-two-days-2024-10">break down 2 days after restarting</a>.</li><li>Exclusive: AI cloud startup Ori is in talks to raise up to $80 million in funding, <a target="_blank" href="https://www.businessinsider.com/ori-gpu-ai-startup-talks-raise-funding-nvidia-2024-10">sources say</a>.</li><li>A surprising company <a target="_blank" rel="noopener" href="https://www.businessinsider.com/robotaxi-ridesharing-tesla-waymo-uber-2024-10">might beat Elon Musk</a> in the robotaxi race.</li><li>Influencers are swiping a new black card at <a target="_blank" href="https://www.businessinsider.com/influencer-marketing-startup-oth-network-pays-creators-products-services-2024-10">restaurants, spas, and fitness studios</a>.</li><li>I don't allow Roblox in my house. <a target="_blank" rel="noopener" href="https://www.businessinsider.com/roblox-not-allowed-my-child-kids-why-explained-2024-10">Here's why</a>.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="Photo of wave hitting Florida park" height="1000" width="2000" msid="114087135" hostid="261" sizebytes="112966"></div><ol><li>The Hurricane Milton trade is in full effect, according to US natural gas futures. Energy traders are betting the storm barreling toward Tampa will cause power outages in multiple states. <a target="_blank" href="https://markets.businessinsider.com/news/commodities/hurricane-milton-power-outage-florida-electricity-natural-gas-prices-futures-2024-10">Futures on US natural gas have dropped 8% over the past few days</a> as power plants are expected to be left idling as demand evaporates.</li><li>A short-seller takes aim at Roblox for "lying to investors." Hindenburg Research accused the online gaming platform of <a target="_blank" href="https://markets.businessinsider.com/news/stocks/roblox-stock-price-short-seller-hindenburg-report-gaming-inflated-metrics-2024-10">inflating its user numbers</a> by including bots and players with multiple accounts. It also called Roblox a "pedophile hellscape," claiming child users are exposed to grooming and pornography. A Roblox spokesperson said in a statement it "totally" rejected the claims made in the report.</li><li>Bank of America is bullish on stock gains ahead of this earnings season. "The bar isn't high," BofA analysts said in a Tuesday note. Stocks should rise as long as companies report they're <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stocks-q3-earnings-lower-rates-stocks-returns-outlook-bofa-2024-10">feeling good about lower rates</a>.</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="Vinod Khosla" height="900" width="1200" msid="114087136" hostid="261" sizebytes="76966"></div><ol><li>OpenAI's exec exodus might actually be a good thing, Vinod Khosla says. The legendary investor backing OpenAI has <a target="_blank" href="https://www.businessinsider.com/openai-vinod-khosla-fixing-ai-image-2024-10">plenty of confidence in the startup</a>, even after multiple high-profile exits. He also thinks the AI industry is catching strays from "Luddites" — those who think the tech is a slippery slope into a Westworld-ian apocalypse.</li><li>The DOJ may seek to break up Google. After a major antitrust lawsuit against Google, a federal judge ruled that it illegally monopolized online search. Now, prosecutors are proposing "behavioral and structural remedies." If enacted by a judge, the changes could <a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/google-search-antitrust-case-doj-remedy-alphabet-2024-10">force a major reorganization or even a breakup</a> of some of Google's basic businesses, including its search engine.</li><li>Where are the Gen Z Mark Zuckerbergs? Gen Zers, aged 13 to 27, haven't produced any big-name tech founders like previous generations. But don't just blame it on Zoomers' blasé attitudes toward work — <a target="_blank" href="https://businessinsider.com/gen-z-tech-founder-gap-zuckerberg-bezos-holmes-2024-10">there's a bigger reason</a>.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="A screenshot of zara.com" height="1500" width="2000" msid="114087133" hostid="261" sizebytes="93076"></div><ol><li>Zara's bizarre website is the secret to its success. The site, which feels more like a magazine spread than an online retailer, is routinely roasted for being "virtually unusable." But experts say <a target="_blank" href="https://www.businessinsider.com/zara-website-memes-mocked-secret-success-aspirational-luxury-consumers-2024-10">there's a method to Zara's madness</a>: It's meant to project an upscale image, distancing itself from other fast-fashion brands.</li><li>The "happiest place on earth" takes a rain check. There are literally storm clouds forming over Florida's family-friendly amusement parks, as the state braces for Hurricane Milton. It's a <a target="_blank" href="https://www.businessinsider.com/disney-world-shut-down-hurricane-milton-florida-orlando-parks-2024-10">rare occasion for Disney World</a>, which has only closed its gates nine times in more than 50 years.</li><li>Tesla executives are hitting the exits. In the past week, <a target="_blank" href="https://www.businessinsider.com/elon-musk-loses-4-top-executives-ahead-of-robotaxi-event-2024-10">four of Elon Musk's direct reports have announced they're leaving</a>, or have already left, the company. Their departures come ahead of Robotaxi Day tomorrow, where Musk is tasked with convincing investors that Tesla is more than just a car company.</li></ol><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>Hurricane Milton is projected to hit the west coast of Florida, including the Tampa Bay area.</li><li>Federal Open Market Committee's September meeting minutes and forecast published.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Milan Sehmbi, fellow, in London. Amanda Yen, fellow, in New York.

Why the interest-rate cut isn't delivering the relief consumers were hoping for

<ul class="summary-list"><li>Priscilla Hamilton was a fourth-year associate at a Big Law firm making $315K when she quit.</li><li>As a corporate lawyer, she worked long hours with little personal time, and pro bono work kept her going.</li></ul>This as-told-to essay is based on a conversation with 33-year-old Priscilla Hamilton, a lawyer based in New Rochelle, New York. Her salaries and work history have been verified by Business Insider. The following has been edited for length and clarity.My parents always wanted me to be a doctor, but at 26 years old, I decided to go to law school instead.I had done Teach for America in Miami and my students had grown up with <a target="_blank" href="https://www.britannica.com/event/shooting-of-Trayvon-Martin">Trayvon Martin</a>, who had been killed a few years prior. He could've easily been a student of mine. I grew up very sheltered, going to predominantly white private schools, so hearing my students talk about how the legal system affected their lives and families opened my mind.I <a target="_blank" class="" href="https://www.businessinsider.com/law-students-versus-big-law-2022-8">wanted to do nonprofit work</a> but knew I wouldn't have the financial security to do so right out of law school, so my plan was to get into corporate law, create some <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/built-6-figure-net-worth-savings-tip-from-parents-2022-5">six-figure savings</a> for myself, and then be able to choose what I wanted to do.Unexpectedly, I ended up working in corporate law for several years, and I felt like I was sacrificing my morals. I made a lot of money, but part of me felt empty for a long time before finally being able to do something that truly fulfills me now.<h2 id="3b75baa9-311d-4bad-aa94-c04cfa9500ef">Working in Big Law meant long hours and high expectations</h2>The summer after my first year, I was placed at a corporate law firm through the New York City Bar's <a target="_blank" href="https://www.nycbar.org/serving-the-community/office-for-diversity-and-inclusion/student-pipeline-programs/programs/diversity-fellowship-program/">Diversity Fellowship Program</a>. It wasn't super common for people to get a corporate law internship in their first summer of law school, so I jumped at the opportunity.The following summer, I interned at Fried Frank, a global law firm, and was given a return offer as a first-year associate.<div type="image" title="Priscilla Hamilton wears her Doctor of Law graduation gown as she sits at the base of a pillar." height="874" width="1284" msid="112714590" hostid="261" sizebytes="47512"></div>I worked on investment funds and tried to give the work a chance. I thought to myself, Let me go to a firm that's the best at investment funds, and maybe I'll fall in love with it!I landed a job at Simpson Thacher &amp; Bartlett, one of the top companies for investment funds at the time.I got a lot of excellent training from both firms but ultimately, the love for investment funds work never came. I excelled at the work, but I didn't like it at all.I worked long hours — sometimes 12- to 14-hour days — and didn't really have breaks. I often had to <a target="_blank" class="" href="https://www.businessinsider.com/big-law-paul-hastings-list-non-negotiable-expectations-debate-2023-4">reply to emails on weekends</a> when I was at dinner with my family, because there was an expectation that we answer emails within five to 10 minutes of receiving them.As my seniority went up, my workload also increased. The part that affected me the most was not having a cutoff time and not having time to myself. I was <a target="_blank" class="" href="https://www.businessinsider.com/big-law-stress-mental-health-therapists-lawyers-2022-8">expected to be "on" all the time</a>. But I got used to it.Doing pro bono work on the side kept me sane. I did over 100 hours of pro bono work a year on top of my regular work; I'd be reading investment funds contracts while working on a research case for The Innocence Project.In my final year, I also became a manager. I loved teaching and developed such a close relationship with my team, <a target="_blank" class="" href="https://www.businessinsider.com/boss-manager-positive-feedback-employee-appreciation-work-quit-job-2023-3">giving them feedback</a> even outside of their annual reviews, which was unheard of. I felt it was really important to tell them both what they were doing well and the areas of opportunity.I was able to stay in Big Law for as long as I did because I was able to integrate things I loved and was passionate about.<h2 id="a9e714d3-bf6a-4645-8ddb-88f2526e9f02">I decided to choose myself and leave</h2>At the beginning of 2023, I decided I'd leave, but was still nervous about whether I was making the right decision.By October, I was overwhelmed by work and wondered, Am I going to go into 2024 and continue this cycle, or am I going to take the plunge?I went to a <a target="_blank" class="" href="https://www.businessinsider.com/lost-100-pounds-wellness-resort-hilton-head-health-review-2024-1">wellness resort</a> called Miraval in Arizona, attending all sorts of self-care classes and doing some soul-searching. I spoke to women holding very powerful positions in Fortune 500 companies who said that they wished they had chosen themselves earlier on.That solidified to me that it was time to pull the plug. I had the funds, so what was I afraid of? I decided to leave in the first quarter of 2024, after getting my end-of-year bonus.When I got back to work, I started reaching out to organizations I'd done pro bono work with to let them know that I was planning to leave and to set up conversations about potential openings.In March 2024, I gave my notice.<h2 id="01a2d500-27f1-4b0d-a9e8-1cd3106be8f9">I love my work more and more every day</h2>In mid-April, I started working at a <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/2024-trust-in-nonprofits-and-philanthropy-report-finds-increase-in-nonprofit-trust-1033501240">nonprofit organization</a> in the Bronx that primarily focuses on assisting people who have gone through <a target="_blank" class="" href="https://www.businessinsider.com/guides/health/sex-relationships/domestic-abuse">domestic violence</a>, a cause that's near and dear to my heart. We provide support with things like helping them obtain orders of protection and filing for custody or child support.If we can't take them on for capacity reasons, we at least advise them on their rights, help them write out and file petitions, and help them find other free legal services in the Bronx.I love the job more and more with every single day that passes. I've never felt like this about a job before — it's liberating.My work involves a lot of talking and comforting people. It's emotionally heavy, but I thrive in this environment because I'm incredibly empathetic. I don't mind hugging people and will cry with them. I'm here to help them, and I take that seriously.Every day is different. There's always a case that comes up that none of us has seen, so it's really cool to research it and learn more. I can be both student and teacher, and it's never boring or tedious.Also, my two supervising attorneys are both Black women, and they constantly <a target="_blank" class="" href="https://www.businessinsider.com/signs-your-boss-thinks-you-are-awesome-2016-7">give me positive reinforcement</a>. It feels like they really care about educating me on different topics. In corporate law, I didn't really feel like anyone cared if I did well or not.<h2 id="c9de731c-f299-4a91-b9f7-b74b674f6986">Public interest lawyers are not paid enough</h2>When I left as a fourth-year associate, my salary was around $315,000. Monthly, after taxes, I was bringing home around $16,000. Now, I'm making $83,000 in nonprofit work, and my monthly paycheck after taxes and everything is less than $5,000. Plus, now I have to pay $200 a month for parking at my job.Public interest lawyers aren't compensated in the way that we deserve to be. We're doing such impactful, important work, and we deserve to be paid <a target="_blank" class="" href="https://www.businessinsider.com/money-diaries-big-law-attorney-making-500000-salary-spending-2022-6">whatever corporate lawyers are making</a>, but we just don't have the funding for it. That sucks, because a lot of brilliant lawyers who love the job end up leaving because the salary just isn't sustainable.In corporate law, <a target="_blank" class="" href="https://www.businessinsider.com/law-firms-offer-164k-bonus-structure-extra-vacation-workers-burnout-2021-6">they spoil you</a>. I had my own laptop plus a $2,500 tech budget, which I used to buy a brand-new phone. Everything could get comped; if I drove into the city for an event, they'd pay for my parking. If I needed any office supplies, we had a website where I could just add them to the cart and someone would bring them to me within the hour. If any of my pro bono clients needed food or a ride home, I could just order it for them and get reimbursed.<div type="image" title="Priscilla Hamilton is wearing a red dress as she stands in front of a white Christmas tree." height="1707" width="1284" msid="112714587" hostid="261" sizebytes="209382"></div>Now working at a nonprofit, it's very different. It's faster for me to order supplies on Amazon using my own money than to order them through our Staples Advantage program, which can take six weeks to come in. We have funding for clients who need help, but that money runs out. Our pockets aren't deep enough to take care of everyone.I'm only able to have this job now because while working in Big Law, I saved a good chunk of my paycheck despite loving luxury things. It allowed me to create a six-figure nest and budget that will sustain me for at least three to five years.I also have a <a target="_blank" href="https://www.tiktok.com/@legallypriscilla">TikTok platform</a> that has grown beyond what I could have ever imagined when I first started posting in summer of 2021, and I have the option to <a target="_blank" class="" href="https://www.businessinsider.com/how-much-do-tiktokers-make">generate additional income</a> from that if I want to.I know people say money is the root of all evil, but money also generates freedom. If people were to ask me if I would do it again, I would do it exactly this way.And I'd encourage other people: "If you can get into corporate law, go get the corporate law money, line your pockets, and then leave. But always put your mental health first."If you quit a high-paying job and took a salary cut and would like to share your story, email Jane Zhang at <a target="_blank" href="mailto:janezhang@businessinsider.com">janezhang@businessinsider.com</a>.

I worked in Big Law for 4 years but felt like I was sacrificing my morals. I took a 75% pay cut but love my work now.

<ul><li>Samsung had launched the Galaxy Ring wearable in India.</li><li>The device was announced in July 2024, alongside the Galaxy Z Fold 6 and Galaxy Z Flip 6.</li><li>The Galaxy Ring has been priced at ₹38,999 and is available in three colour options.</li></ul> Korean smartphone maker Samsung announced the Galaxy Ring, the company’s first <keyword id="20596744" type="General" weightage="20" keywordseo="smart-ring" source="keywords">smart ring</keyword> globally alongside the<a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-6-galaxy-z-flip-6-galaxy-ring-and-more-launched/articleshow/111637913.cms"> Galaxy Z Fold 6 and Galaxy Z Flip 6</a> smartphone in July 2024 and has finally launched the device in India. The smart ring market is all set to heat up, with the launch of the Galaxy Ring in India. So far, companies like Ultrahuman, boAt, Noise and more have been the only ones offering a smart ring in the Indian market. “The launch of Galaxy Ring marks a massive leap in Samsung’s commitment to democratizing cutting-edge technology for everyone, helping users turn data into meaningful insights and create a whole new era of expanded intelligent health experiences,” said Aditya Babbar, Vice President, MX Business, <keyword id="20046687" type="General" weightage="20" keywordseo="Samsung-India" source="keywords">Samsung India</keyword>. <h2><keyword id="20244256" type="General" weightage="20" keywordseo="samsung-Galaxy-Ring-price-in-india" source="Orion">Samsung Galaxy Ring price in India</keyword></h2>The <keyword id="20478811" type="General" weightage="20" keywordseo="Samsung-Galaxy-Ring" source="keywords">Samsung Galaxy Ring</keyword> has been priced at ₹38,999 in India. It is available in nine sizes, ranging from a size 5 to size 13. The Galaxy Ring comes in three colour options, Titanium Black, Titanium Silver and Titanium Gold. <div type="Article" hostid="261" msid="114120828" title="The Ola Electric Saga: Are surge in complaints and declining market share a wake-up call for Bhavish Aggarwal?" mstype="2" mssubtype="0"></div> The Galaxy Ring will be available from Samsung Online Store, Amazon India, Flipkart and the company’s authorised retail stores across the country. <h2>Samsung Galaxy Ring features</h2>The Galaxy Ring, the company’s latest wearable comes with a titanium finish and offers enhanced durability. It is IP68 water- and dust-resistant and can withstand depths of up to 100 meters with its 10ATM rating. Like most things launched recently, the Galaxy Ring is equipped with AI-powered features. It comes with Samsung’s Health AI, which offers real-time insights to users with personalised recommendations and wellness tips. The Galaxy Ring essentially uses three sensors – an optical bio-signal sensor to monitor your heart rate, an accelerometer and a skin temperature sensor. “With advanced AI-driven insights, 24/7 health monitoring and a sleek, lightweight design, it empowers users to seamlessly track their wellness anytime, anywhere. With Galaxy Ring, we’re paving the way for a healthier, more connected future for all,” Babbar added. The Galaxy Ring weighs 2.3 grams for size 5 and goes up to 3 grams for size 13. <div type="image" title="024-galaxy-ring-titaniumsilver-charging-case-open-combination" msid="114275878" hostid="261" sizebytes="22068" caption="&amp;lt;p&amp;gt;The Galaxy Ring with its charging case&amp;lt;/p&amp;gt;"></div> It comes with a clamshell charging case with LED lighting to indicate the charging status. The Galaxy Ring offers up to 7 days of battery life on a single charge. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/apple-ipad-mini-with-a17-pro-chip-launched-starting-at-49900/articleshow/114259209.cms">Apple iPad mini with A17 Pro chip launched starting at ₹49,900</a> <a href="https://www.businessinsider.in/stock-market/webstories/hyundai-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114235421.cms">Hyundai IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/pixel-9-pro-to-go-on-sale-in-india-from-october-17-price-specs-and-everything-you-need-to-know/articleshow/114210864.cms">Pixel 9 Pro to go on sale in India from October 17 – price, specs and everything you need to know</a>

Samsung Galaxy Ring is now available in India at ₹38,999

<ul class="summary-list"><li>Morgan Stanley's Mike Wilson is now bullish on the stock market, setting a 2025 S&amp;P 500 target of 6,500.</li><li>He cites Fed rate cuts and potential deregulation, and says high-quality cyclical stocks will outperform.</li></ul>Closely watched Wall Street strategist Mike Wilson of <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/ms-stock">Morgan Stanley</a> is turning more bullish on the stock market.In a Monday note, the CIO and chief US equity strategist set a 2025 year-end <a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> price target of 6,500, representing potential upside of 11% from current levels.The call is notable considering that Wilson has been largely bearish on stocks over the past few years, correctly calling the 2022 bear market but <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-earnings-recession-morgan-stanley-bear-mike-wilson-2023-12">remaining bearish</a> throughout much of the stock market's advance that began in October 2022.Wilson previously had a mid-year 2025 S&amp;P 500 price target of 5,400. The S&amp;P 500 traded at around 5,900 on Monday.According to Wilson, <a target="_blank" class="" href="https://www.businessinsider.com/fed-interest-rate-cuts-outlook-2025-trump-tariff-inflation-growth-2024-11">interest-rate cuts</a> from the Federal Reserve, combined with improving economic growth and the potential for a wave of deregulation under the incoming Trump administration, means investors should lean bullish on stocks."A potential rise in corporate animal spirits post the election (as we saw following the 2016 election) could catalyze a more balanced earnings profile across the market in 2025," Wilson said.Wilson had previously been skeptical of stock market upside due to elevated valuations. While he admits they're still "rich," they could be justified as long as the economy holds up.And looking under the surface, valuations aren't hitting extremes, according to the note."The S&amp;P 500 median stock multiple is less extended at 19.0x and should stay supported if the earnings recovery broadens out in 2025 as we expect," Wilson said.Wilson recommended investors own high-quality cyclical stocks, with a particular focus on stocks found in the financials sector.On the flipside, Wilson recommended investors take an underweight position on consumer discretionary and consumer staple stocks due to limited pricing power and the potential risk of tariffs.While Wilson shifted to a more bullish tone on stocks, he said investors should "stay nimble" amid changing market leadership and uncertainty around President-elect Donald Trump's policies related to immigration, global trade, and government spending."We are potentially going through another sea change in policy outcomes that could have both short and longer term implications for markets," Wilson said.

Morgan Stanley is finally bullish on stocks: Why the firm now sees 11% upside through 2025

<ul class="summary-list"><li>Anthropic has emerged as one of the primary contenders in the AI arms race.</li><li>The company was founded by a group of former OpenAI employees.</li></ul>Founded by a group of <a target="_blank" class="" href="https://www.businessinsider.com/former-openai-employees-who-left-launch-vc-backed-ai-startups-2024-1">former OpenAI employees,</a> Anthropic has emerged as a <a target="_blank" class="" href="https://www.businessinsider.com/heres-ai-company-amazon-betting-billions-on-anthropic-2024-3">serious contender in the race for AI dominance.</a> The flagship product is <a target="_blank" rel="" href="https://www.businessinsider.com/ai-models-can-learn-deceptive-behaviors-anthropic-researchers-say-2024-1">Claude</a>, an AI chatbot that rivals <a target="_blank" rel="" href="https://www.businessinsider.com/everything-you-need-to-know-about-chat-gpt-2023-1">OpenAI's ChatGPT</a>.Anthropic has <a target="_blank" class="" href="https://www.businessinsider.com/openai-rivals-anthropic-perplexity-on-prowl-after-wave-exec-departures-2024-10">sought to position itself as the safer,</a> more stable alternative to <a target="_blank" class="" href="https://www.businessinsider.com/category/openai">OpenAI,</a> and a company that risk-averse Fortune 500 companies can feel comfortable doing business with. That differentiation has only become more relevant as <a target="_blank" class="" href="https://www.businessinsider.com/openai-implosion-investors-vcs-2024-9">OpenAI continues to be mired in chaos and infighting.</a>Anthropic has raised <a target="_blank" href="https://www.businessinsider.com/amazon-invests-4-billion-in-anthropic-2023-9">over $7 billion</a> over the past year from tech giants like Google, Amazon, and Salesforce and is reportedly raising a new round of funding that could value the company at as much as $40 billion, <a target="_blank" href="https://affiliate.insider.com?h=75da8b58b44035e03575c048e5e7b373edd291ccfea0018026509f4fae0f42b8&amp;postID=67055e480c43543ec7aec56d&amp;postSlug=here-are-the-executives-running-anthropic-right-now-2024-10&amp;site=bi&amp;u=https%3A%2F%2Fwww.theinformation.com%2Farticles%2Fopenai-rival-anthropic-has-floated-40-billion-valuation-in-early-talks-about-new-funding">according to The Information.</a>Business Insider has put together a list of the most important people running Anthropic right now. The list is by no means exhaustive, but it includes thought leaders and researchers who are contributing knowledge to the understanding of machine learning, as well as the business people working to build Anthropic into an AI behemoth.Dario Amodei, Co-Founder and CEOBefore leaving to start Anthropic, <a target="_blank" class="" href="https://www.businessinsider.com/anthropic-ceo-cost-10-billion-train-ai-years-language-model-2024-4">Amodei</a> served as vice president of research at OpenAI where he led the development of breakthrough large language models like GPT-2 and GPT-3. His foundational research on reinforcement learning and scaling laws helped revolutionize the AI industry. Since its founding, Amodei has helped <a target="_blank" class="" href="https://www.businessinsider.com/anthropic-ceo-dario-amodei-universal-basic-income-ubi-ai-inequality-2024-6">establish Anthropic</a> as the safer, more business-friendly alternative to his former employer, OpenAI.Dario holds a Ph.D. in biophysics and computational neuroscience from Princeton University, where he was a Hertz Fellow. He completed a postdoctoral fellowship at the Stanford University School of Medicine, focusing on applying machine learning to biomedical data.Daniela Amodei, Co-Founder and PresidentAfter her career in international development, Amodei was in charge of risk management and compliance at Stripe before serving as vice president of safety and policy at OpenAI. She's <a target="_blank" class="" href="https://www.businessinsider.com/anthropic-cofounder-daniela-amodei-trust-safety-generative-artificial-intelligence-2023-4">been in the trenches</a> working to create sager, steerable, and reliable AI since the early days of this nascent industry.She, along with her brother Dario, was part of the team that left OpenAI with the goal of creating a more responsible AI company. Today, she oversees Anthropic's day-to-day operations and has been instrumental in shaping the company's defining ethos around safety and security.Jack Clark, Co-Founder and Head of PolicyClark made a <a target="_blank" class="" href="https://www.businessinsider.com/anthropic-cofounder-artificial-intelligence-newsletter-import-ai-2023-4">name for himself as a journalist at Bloomberg,</a> where he was quite possibly the world's first and, for a while only, neural networks reporter.He would go on to serve as policy director at OpenAI and now leads a team at Anthropic that produces research into AI bias and persuasion and conducts critical red-teaming that pushes the boundaries of understanding around AI-related risk. He has proven himself to be one of AI's most eloquent thought leaders, and his newsletter, Import AI, has become required reading for anyone interested in tackling big questions in machine learning.Jared Kaplan, Co-Founder and Chief Science OfficerKaplan, who boasts a PhD from Harvard, spent 15 years as a theoretical physicist in academia and continues to lecture on deep learning at Johns Hopkins University. While at OpenAI, he helped create GPT-3 and Codex, and his revolutionary work on AI scaling laws has been foundational for the entire AI industry.Kaplan helped pioneer Constitutional AI, an approach championed by Anthropic that aims to create AI systems that are constrained by and aligned with a set of predetermined principles.Chris Olah, Co-Founder and Research Lead, Mechanistic InterpretabilityOlah is a researcher in the field of mechanistic interpretability, which is essentially the science of translating neural networks into algorithms that are useful to humans. Olah's research focuses on mapping out the artificial "neurons" that are part of AI models. His team achieved a significant milestone earlier this year by successfully identifying distinct neuron clusters within Anthropic's most advanced models that are associated with specific concepts and tasks, such as detecting bias or identifying fraudulent emails.By selectively activating or deactivating these neuron groups, the team demonstrated the ability to modulate the model's behavior.Sam McCandlish, Co-Founder and Chief Technology OfficerMcCandlish oversees Anthropic's Large Language Model (LLM) Organization, which encompasses the Training, Inference, and Core Resources divisions. He also serves as the company's Responsible Scaling Officer, helping design and implement Anthropic's <a target="_blank" class="" href="https://www.anthropic.com/news/anthropics-responsible-scaling-policy">responsible scaling policy</a>.McCandlish was a former research lead at OpenAI, where he spearheaded AI Safety initiatives and pioneered scaling laws that influenced technological breakthroughs like GPT-3. He holds a Ph.D. in Theoretical Physics from Stanford University, specializing in quantum gravity and tensor networks, and an MS in Physics from Brandeis University, where he explored active matter to quantum field theory.Tom Brown, Co-Founder and Head of Core ResourcesBrown was part of the technical staff at OpenAI and Google DeepMind, and, like Anthropic's other founders, his research, particularly his work on how computational power influences model performance, has helped lay the groundwork for the entire AI industry.At Anthropic, Brown is focused on the compute side of LLM development, overseeing the company's use of scarce, valuable GPUs and leading its strategic partnerships with cloud and chip providers. Brown is also an alum of the legendary tech incubator <a target="_blank" class="" href="https://www.businessinsider.com/y-combinator-startups-application-review-demo-day-yc-w22-2022-12">Y Combinator.</a>Krishna Rao, Chief Financial OfficerAs any emerging AI company can attest, conducting groundbreaking research isn't enough. Anthropic, like most of its competitors, is also tackling the challenge of building a viable, profitable global business. Rao, who was<a target="_blank" class="" href="https://www.anthropic.com/news/krishna-rao-joins-anthropic"> hired in May</a> as the company's first CFO, is helping to formulate Anthropic's financial strategy during a period of explosive growth.He cut his teeth working at private equity giant Blackstone and management consultant Bain &amp; Company before becoming head of business development at Airbnb. In that role, he helped the company raise billions in private capital and steered the company through its <a target="_blank" class="" href="https://www.businessinsider.com/airbnb-confidentially-filed-for-an-initial-public-offering-2020-8">high-profile IPO.</a>Mike Krieger, Chief Product OfficerA native of São Paulo, Krieger <a target="_blank" href="https://www.anthropic.com/news/mike-krieger-joins-anthropic">joined Anthropic</a> as Chief Product Officer in May 2024. He currently leads the global product team, collaborating closely with customers across industries to shape the product vision and strategy for Anthropic's flagship model, Claude.In this role, he's building deep relationships with users and helping to turn Anthropic's research into a mass-market product.He is a cofounder of Instagram and served as its CTO, where he grew the engineering organization to more than 450 employees across the company's offices in Menlo Park, San Francisco, and New York.Brian Israel, General CounselAs generative AI opens up new avenues for technological innovation, it's also raising fraught questions about authenticity, creativity, and some of the core assumptions of our legal system.Like many of its competitors, Anthropic is deeply enmeshed in these questions, whether that's helping to guide the creation of new legal frameworks or <a target="_blank" class="" href="https://www.reuters.com/technology/artificial-intelligence/authors-sue-anthropic-copyright-infringement-over-ai-training-2024-08-20/">facing lawsuits</a> that could determine to future of the nascent AI industry. Israel is the point person helping Anthropic navigate this legal landscape. Before joining Anthropic, Brian spent nearly a decade in the US government, from the State Department to NASA, working to address the legal challenges created by emerging technologies.Sam Bowman, AlignmentBowman co-leads Anthropic's alignment team along with Jan Leike, a safety researcher <a target="_blank" class="" href="https://www.businessinsider.com/openai-jan-leike-joins-rival-anthropic-days-after-leaving-2024-5">who recently left OpenAI.</a> The team is responsible for confronting some of the thorniest questions associated with the development of advanced AI models.It works on forecasting when AI models will develop potentially dangerous abilities like deception or scheming and how humans will be able to tell when they do. The alignment team is also developing evaluations that can flag when a model reaches a concerning level of skill and reliable techniques for controlling them when they get out of line. These capabilities are essential to Anthropic's positioning of itself as the safer AI company.

Anthropic's power players: Here are the 11 leaders helping shape the future of the Amazon-backed AI company

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Happy Friday! Looking for a new way to jumpstart your mornings? (Besides reading this newsletter, of course.) Retired Navy SEAL Jocko Willink <a target="_blank" href="https://www.businessinsider.com/former-navy-seal-military-morning-routine-helps-him-in-business-2024-10">shared his daily routine</a> that keeps the now-business owner focused.Speaking of new, we've got a cool tool for you to play around with: AI-powered search. We're using generative AI to help easily find all of our great stories. <a target="_blank" href="https://www.businessinsider.com/">Check it out on our homepage</a>.In today's big story, inside Amazon's internal pitch for turning to nuclear power <a target="_blank" href="https://www.businessinsider.com/amazon-nuclear-power-strategy-ai-2024-10">to meet its growing energy needs</a>.What's on deck:<ul><li>Markets: <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-q3-earnings-elon-musk-profit-margins-guidance-2024-10">Tesla's stock had a monster day</a> following its stellar earnings report.</li><li>Tech: In an exclusive interview, <a target="_blank" href="https://www.businessinsider.com/marc-benioff-salesforce-ceo-interview-microsoft-ai-threatens-crm-lead-2024-10">Marc Benioff bashes Microsoft's Copilot</a>.</li><li>Business: The <a target="_blank" href="https://www.businessinsider.com/what-is-going-on-with-economy-jobs-inflation-election-voting-2024-10">good and bad about the economy</a> less than two weeks from the election.</li></ul>But first, let's power up.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">Nuclear needs</h2><div type="image" title="Amazon logo with smoke coming out." height="1250" width="2500" msid="114590276" hostid="261" sizebytes="87984"></div>What's bigger than tech's ambitious plans for generative AI? The amount of energy needed to power it.That's led Big Tech to consider nuclear power to address its skyrocketing energy requirements.Business Insider's Eugene Kim has a report on <a target="_blank" href="https://www.businessinsider.com/amazon-nuclear-power-strategy-ai-2024-10">how Amazon navigates its nuclear ambitions</a>. In a signal of how serious Amazon is about going nuclear, the company pitched the energy source to CEO Andy Jassy this June, according to a company document he obtained.Since then, Amazon has led a $500 million financing round for a company developing modular nuclear reactors. It also agreed to purchase power from Talen Energy's nuclear-powered data center in March.And it's not alone.Microsoft and Google have invested in the sector, and OpenAI CEO Sam Altman backed a nuclear reactor startup.The stakes are high for tech players to get energy. Eugene previously reported on how Amazon's dreams of building a data center empire <a target="_blank" href="https://www.businessinsider.com/amazon-data-centers-delays-costs-power-labor-shortages-aws-ai-2024-10">face the realities of electricity, water, and labor constraints</a>.Should those data center efforts continue to struggle, companies' big bets on generative AI could also falter.<div type="image" title="Protesters at Three Mile Island." height="470" width="700" msid="114590280" hostid="261" sizebytes="35920"></div>A tech-nuclear relationship is mutually beneficial.Tech companies need cost-efficient, reliable energy sources <a target="_blank" href="https://www.businessinsider.com/google-nuclear-power-ai-data-centers-2024-10">that won't increase their carbon footprint</a>, writes BI's Hasan Chowdhury. Nuclear power ticks that box better than other clean energy options like solar or wind.Nuclear power, meanwhile, <a target="_blank" href="https://www.businessinsider.com/data-centers-amazon-ai-nuclear-power-grid-2024-5">is an industry in desperate need of some love</a>, BI's Daniel Geiger and Ellen Thomas previously reported. With at least one commercial nuclear plant closing every year since 2013, the sector has welcomed the interest."We're seeing customers approach us at a rate that we haven't seen in my history with this industry," Jim Burke, CEO of nuclear owner Vistra, said back in March.Naturally, there are skeptics. A byproduct of nuclear power is radioactive waste. The transportation and storage of that remains a hot-button issue. High-profile incidents involving power plants like Chernobyl and Fukushima also drew criticism and stoked fears around the globe.Big Tech hasn't shied away from it. In September, Microsoft cut a deal with Constellation Energy to get power from <a target="_blank" href="https://www.businessinsider.com/three-mile-island-nuclear-plant-reopens-power-microsoft-ai-push-2024-9">part of the Three Mile Island nuclear plant</a>, home to the worst commercial nuclear accident in US history.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li>Exclusive: Maven Clinic is swapping out its finance chiefs <a target="_blank" href="https://www.businessinsider.com/mavens-cfo-out-as-womens-health-startup-gets-fresh-funding-2024-10">as the women's health unicorn looks ahead to an IPO</a>.</li><li>The 'whale' placing huge bets on a Trump win is a French national with <a target="_blank" href="https://www.businessinsider.com/polymarket-donald-trump-betting-odds-whale-french-trader-harris-polls-2024-10">extensive trading experience</a>.</li><li>The New York Liberty celebrated its first-ever championship and record-breaking WNBA season <a target="_blank" href="https://www.businessinsider.com/new-york-liberty-wnba-championship-parade-photos-2024-10">with a jubilant party</a>.</li><li>Former Avenue employee accused of 'blackmailing' billionaire Marc Lasry countersues, claiming sexual harassment <a target="_blank" href="https://www.businessinsider.com/billionaire-marc-lasry-accused-of-sexual-harassment-in-countersuit-2024-10">including forced kissing, groping, and comments about her body</a>.</li><li>Putin once asked Elon Musk to not activate Starlink over Taiwan as a <a target="_blank" rel="noopener" href="https://www.businessinsider.com/putin-elon-musk-starlink-taiwan-china-favor-xi-jinping-report-2024-10">favor to Xi Jinping</a>: report.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="Name plates on blue background" height="900" width="1200" msid="114590272" hostid="261" sizebytes="60254"></div><ol><li>Welcome to the world of hedge funds, where job titles are made up and don't matter. Unlike its Wall Street peers, the $4.3 trillion hedge-fund industry <a target="_blank" href="https://www.businessinsider.com/an-inside-look-at-hedge-fund-job-titles-2024-10">has little uniformity regarding titles</a>. The naming free-for-all means employees and hiring managers can take advantage of using trumped-up titles.</li><li>Tesla's stock just went from 0 to 60. Shares of the EV giant <a target="_blank" href="https://markets.businessinsider.com/news/stocks/elon-musk-net-worth-gains-tesla-stock-price-earnings-tsla-2024-10">finished the day up almost 22%</a> after Wednesday's strong earnings report. Elon Musk added $30 billion to his net worth from the spike.</li><li>The election's biggest risk to the market isn't who wins but how long it takes to decide. BlackRock Investment Institute head Jean Boivin said <a target="_blank" href="https://markets.businessinsider.com/news/stocks/us-presidential-election-trump-harris-outlook-volatility-stock-sell-off-2024-10">a contested election would be bad news for investors</a>. He's not alone in his concerns, as others have pointed to short-term volatility when results were delayed in 2020 and 2000.</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="Salesforce CEO Marc Benioff." height="1333" width="2000" msid="114590275" hostid="261" sizebytes="41956"></div><ol><li>Marc Benioff isn't buying Microsoft's AI hype. In an exclusive interview with BI, <a target="_blank" href="https://www.businessinsider.com/marc-benioff-salesforce-ceo-interview-microsoft-ai-threatens-crm-lead-2024-10">the Salesforce CEO bashed Microsoft's AI Copilot</a>, calling it inaccurate and dubbing the tool "Clippy 2.0." Benioff's diss came after Microsoft recently announced new Dynamics 365 AI agents, directly competing with a new Salesforce product available today.</li><li>Keep your eyes on these 13 creator-economy startups. New startups are finding ways to break into an industry dominated by Big Tech. BI asked venture capitalists which new creator companies they felt showed promise. From advertising platforms to AI tech companies, <a target="_blank" href="https://www.businessinsider.com/promising-creator-economy-influencer-marketing-startups-per-top-vcs-2024-10">here's the startups to watch</a>.</li><li>A longtime safety researcher left OpenAI. Miles Brundage, who advised OpenAI leadership on safety and policy, <a target="_blank" href="https://www.businessinsider.com/another-safety-researcher-is-leaving-openai-2024-10">announced his departure</a> on X. The AGI Readiness team he oversaw will also be disbanded. Brundage's exit is the latest in a string of high-profile departures from the startup.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="Ben Franklin flag on red background" height="900" width="1200" msid="114590270" hostid="261" sizebytes="100740"></div><ol><li>Here's what's going on with the economy ahead of the election. For many Americans, the state of the economy is top of mind heading into the polls. The good news? <a target="_blank" href="https://www.businessinsider.com/what-is-going-on-with-economy-jobs-inflation-election-voting-2024-10">It's doing broadly well</a>. The unemployment rate remains relatively low, and inflation has slowed. Still, other not-so-great data points have voters feeling pessimistic.</li><li>The housing crisis, as explained by two swing states. Renters and homeowners in swing states have been disproportionately affected by rising housing costs. Two states, Pennsylvania and Arizona, exemplify the problem. While Arizona's population is surging, Pennsylvania's is shrinking — <a target="_blank" href="https://www.businessinsider.com/arizona-pennsylvania-swing-state-home-prices-surge-housing-shortage-2024-10">and neither can build enough homes</a>.</li><li>Behind the scenes of Emma Tucker's Wall Street Journal makeover. Tucker joined the legacy outlet in 2023 with a focus on diversifying and growing the paper's subscriber base. So far, it seems to be working, with subscriptions increasing by 11% over the past year. <a target="_blank" href="https://www.businessinsider.com/wall-street-journal-editor-emma-tucker-interview-peter-kafka-2024-10">She spoke with BI about how she's remaking the paper</a> — including reorganizing and cutting staff.</li></ol><h2 id="1ad7b482-3f4b-44b4-81b6-a864aa386478">In other news</h2><ul><li>Jensen Huang says <a target="_blank" href="https://www.businessinsider.com/jensen-huang-tsmc-helped-fix-design-flaw-with-nvidias-blackwell-2024-10">a design flaw with Nvidia's Blackwell chips has been fixed</a> — with TSMC's help.</li><li>Why some CEOs are <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-bill-gates-ceo-avoid-criticizing-trump-2024-10">afraid of publicly criticizing Trump</a>.</li><li>Norway wants to ban under-15s from social media, and <a target="_blank" href="https://www.businessinsider.com/norway-ban-social-media-kids-under-15-backfire-2024-10">expects an 'uphill battle.'</a></li></ul><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>Former Abercrombie &amp; Fitch CEO Mike Jeffries will be arraigned on sex trafficking charges in federal court.</li><li>SpaceX's Crew-8 mission crew returns to Earth today.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Milan Sehmbi, fellow, in London.

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