<div class="KonaFilter image-container display-table"><div><div class="image on-image">PagerDutyPagerDuty CEO Jennifer Tejada</div></div></div><ul class="summary-list"><li><a href="https://www.businessinsider.com/category/pagerduty">PagerDuty</a> CEO Jennifer Tejada looked at 51 CEO roles before deciding to lead PagerDuty, a company that helps software developers team up to tackle software outages and other problems. </li><li>Earlier in April, PagerDuty <a href="https://www.businessinsider.com/pagerduty-ipo-ceo-jennifer-tejada-cfo-howard-wilson-say-whats-next-2019-4">went public in a very successful IPO, </a>and it's now valued at nearly $4 billion.</li><li>In PagerDuty's early days, investors passed on the idea of a company focused on developers, but many users have since told Tejada that they won't do their job without PagerDuty. Some engineers have even said that PagerDuty saved their marriages.</li><li>Jennifer Tejada is one of Business Insider's <a href="https://www.businessinsider.com/the-100-people-transforming-the-world-of-business-2019-4">100 people transforming business</a>. </li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>PagerDuty isn't Jennifer Tejada's first time leading a company as CEO. Tejada had served as CEO of Keynote Systems, a startup that went public during the dot-com boom. When Keynote got acquired by Thoma Bravo in 2013, she went on the lookout for her next opportunity to build and scale a quickly growing business. She met with investors and founders all over Silicon Valley, looked at 51 CEO roles, and finally decided to join <a href="https://www.businessinsider.com/bessemer-ventures-ethan-kurzweil-why-bet-pagerduty-before-ipo-2019-4">PagerDuty </a>in 2016.Now, after over two years heading PagerDuty, leading it to a $1.3 billion valuation, she was there at the helm when it went public <a href="https://markets.businessinsider.com/news/stocks/initial-public-offering-pagerduty-tech-unicorn-nyse-2019-4-1028104039">on April 11 </a>- even though she had to get back surgery while the IPO process was in full swing. It all came together, though: On its first day of public trading, PagerDuty's <a href="https://www.businessinsider.com/pagerduty-ipo-ceo-jennifer-tejada-cfo-howard-wilson-say-whats-next-2019-4">stock soared 56%</a>. The company currently enjoys a market cap of about $3.9 billion, has over $100 million in annual revenue, serves over 11,000 customers, and is a favorite among IT departments everywhere."I don't know if I have totally unpacked that," Tejada told Business Insider. "It's only been a couple of weeks [since the IPO]. There's a time bound mission you're on from the time you contemplate engaging in the process to ringing the bell. It's like a game of Life or a game of Chutes and Ladders. It's a winding path."<h2>A big market opportunity</h2><a href="https://www.businessinsider.com/how-nyse-wooed-pinterest-away-from-the-nasdaq-for-its-12-billion-ipo-2019-4">PagerDuty</a> was originally founded by Alex Solomon, Andrew Miklas, and Baskar Puvanathasan - engineers who all had gone through the hassle of being on-call when a system outage or other incident occurred. Indeed, the name of the company is a reference to how IT pros used to carry pagers around to get quick notification of any problems.Initially, <a href="https://www.businessinsider.com/microsoft-github-silicon-valley-investors-2018-8">many investors passed</a> on PagerDuty, believing it was too technical for a wide audience, and not understanding the value of a company that sells products for developers. But in 2010, <a href="https://www.businessinsider.com/pagerduty-files-s-1-for-ipo-2019-3">PagerDuty</a> was admitted to Y Combinator, the famed Silicon Valley startup incubator. From there, PagerDuty and its product started to take off, and investors finally took note: All told, PagerDuty raised about $174 million in venture capital funding in the years before IPO.By early 2016, though, Solomon wanted to find a CEO to replace him who would be better suited to growing the company into the next stage, so that he could step into the more technical role of CTO. Tejada says it can be rare to find a founder who is truly willing to hand over the keys to the kingdom and help the new CEO succeed. More often, she says, founders like to bring in a potential replacement as a lieutenant before making the final call."There's a lot of people who want to try-before-you-buy optionality, but I had no interest in being a number 2," Tejada said. "I've been a number 2, and I loved it, but when I was a CEO, I thought, this is the job for me...I've had other conversations where [founders] say you'll run everything except product and finance. And I'm like, well, that's not really a CEO job, is it?"Tejada recalls that when she first was getting to know Solomon, they went out to chat over a beer. At the time, Solomon was trying to keep the CEO search under wraps - but this informal meeting almost blew the surprise. "We're having a nice conversation and I enjoy hearing about his family, his background growing up, and he suddenly goes fully white," Tejada said. "I'm like, 'dude, are you OK?' He said,'oh my god, a whole bunch of PagerDuty employees came in.' I'm like, 'Don't worry, just say you're on a date with Mrs. Robinson or something. Let them think whatever they want.'"Little did those employees know that Tejada would get the nod to become their next CEO.<h2>Becoming CEO </h2>Tejada and Solomon talked ahead of time about what their new roles would look like. By the time she officially joined as CEO, and he moved over to the role of CTO, they both knew exactly how the transition would go down. She calls him a "phenomenal partner" - one who paved the way for her, rather than simply moving out of the way."That to me represents a huge amount of humility, putting the company ahead of myself," Tejada said. "Me coming on board helps him shift his focus to things he's passionate about and cares about."By the time Tejada joined PagerDuty, it was "already beloved by developers," she said. Users have told her that they won't take a job that doesn't use PagerDuty, or that they introduce the service to their companies. Some even told her that it saved their marriages.She says one misconception about PagerDuty is that people think it just fixes outages, or that it's an alert tool that wakes teams up in the middle of the night and disrupts people's lives. What PagerDuty actually does is proactively address issues before they arise, she says. "PagerDuty was solving a very big pain point very early," Tejada said. "One of the other things that's really interesting is the business is super efficient. It's one of the hallmarks of our business that we are growing rapidly and are growing efficiently and have always grown efficiently."<h2>Getting advice</h2>As a leader, Tejada said she often looks to other startup CEOs for advice, such as<a href="https://www.businessinsider.com/zoom-ipo-interview-ceo-eric-yuan-and-cfo-kelly-steckelberg-on-whats-next-2019-4"> Zoom CEO Eric Yuan</a>, who took his company public on April 18 - a week after PagerDuty's own IPO. There are certain things a business leader might not be able to share with a team or a family, but she says being "open and vulnerable" with other CEOs has helped her learn and grow. She says that she's a fan of the growth mindset, the philosophy of being open to learning and change <a href="https://www.businessinsider.com/microsoft-ceo-satya-nadella-on-getting-his-executives-on-board-with-cultural-change-2017-9">espoused by leaders like Microsoft CEO Satya Nadella</a>. "I spend a lot of time applying a growth mindset to how I think about handling challenges in the business by talking to other CEOs," Tejada said. "We talk to each other about life. I ask them all my stupid questions...It starts out as peer mentorship but it becomes camaraderie and friendship over time and it solves the lonely-at-the-top problem."In addition, Tejada says she's on a mission to work towards gender balance in the tech industry. Half of her leadership team are women, but she says the company can do even better. She has a list of qualified women candidates - and if she's not able to hire them at PagerDuty, she has started referring them to others."I see us as a company that can be an example of changing the complexion of your company, how you set the tone at the top," Tejada said. "It starts with me, it starts with leadership, it starts with our board. It starts with not accepting excuses or setting limits. I hear, wow your board is gender balanced. I'm like, I'm not done, there's more to do."<h2>Parallel universes</h2>Leading PagerDuty to its IPO felt like living in parallel universes, or even training for a marathon, Tejada says. While she was leading the company, she also had to meet with bankers and investors. It was a tough process, made all the worse by a back surgery she had to undergo in December, while the process was ongoing."It's funny, back surgery was a real blessing in disguise," Tejada said. "It forced me to delegate a lot of operational work and letting go of that has created capacity to focus on product, continuing to think about long term strategy and also think about how I continue to round myself out."Finally, IPO day came - and it turned into something of a celebration, capping off all the hard work. After Tejada rang the ceremonial opening bell, an impromptu dance party started up on the podium of the New York Stock Exchange, led by Tejada's daughter, and her childhood friend, the daughter of PagerDuty CFO Howard Wilson. PagerDuty's offices in San Francisco and Toronto held their own parties, too. "You're up on the podium and ringing the bell, and there's unbridled joy and pride and wonder," Tejada said. "People are a little incredulous that they're there and you see it in their faces. A lot of people are people who never thought this would be something they accomplish in their <keyword id="6354910" type="UNKNOWN" weightage="60" keywordseo="careers">careers</keyword>...It was quite an incredible experience."Read more: <a href="https://www.businessinsider.com/pagerduty-ipo-ceo-jennifer-tejada-cfo-howard-wilson-say-whats-next-2019-4">Unicorn startup PagerDuty soared 56% in its first day of public trading - now its CEO and CFO explain what's next</a>But the next day, it was back to work. In her talks with employees, she likened the IPO to a wedding: An important milestone, and a good excuse to celebrate, but only the beginning of the real work. "The next day, we went back to the two main offices, held town halls, talked about having a wedding celebration but to stay focused on the marriage," Tejada said. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/warren-buffett-net-worth-berkshire-hathaway-billionaire-coke-mcdonalds-2019-4">Warren Buffett, the third-richest person in the world, is also one of the most frugal billionaires. Here's how he makes and spends his fortune.</a></h3> <div> </div> </div>

The CEO behind the smash-hit PagerDuty IPO says that she looked at 51 other chief exec roles before she chose to lead the $3.9 billion company

<div class="image-container float_right"><div class="image"><a href="https://twitter.com/NimbleStorage/status/411573970086154242">Nimble Storage</a><keyword id="1971699" type="COMPANY" weightage="60" keywordseo="Nimble-Storage">Nimble Storage</keyword> Employees watch the NYSE bell ring from their San Jose office</div></div>On Friday, Nimble Storage became the latest <keyword id="6356323" type="UNKNOWN" weightage="100" keywordseo="Enterprise">enterprise</keyword> tech company to go public.
Investors are loving the stock. Nimble set an initial price of $21 a share, raising the price at the last minute from the range it announced earlier this week, $18-$20.
And the shares popped on the opening bid, climbing as high as $35. It closed at $33.93 today, up 61%.
It was a risky move for the company to proceed with an IPO today and not just because it's Friday the 13th. (Although the ill-omened date did cross the CEO Suresh Vasudevan's mind, he jokingly told Business Insider.)
<a href="http://www.businessinsider.com/nimble-storage-to-ipo-on-friday-2013-12">As we previously reported</a>, two of his competitors have really been struggling to grow since they went public. Their stock is struggling and there's been executive turnover. Violin Memory went public only two months ago. It's IPO didn't go well and after reporting worse-than-expected earnings in November, the <a href="http://www.businessinsider.com/violin-memory-cto-leaves-amid-lawsuits-2013-12">stock crashed</a>. <a href="http://www.businessinsider.com/violin-memory-cto-leaves-amid-lawsuits-2013-12">Business Insider also discovered</a> that the CTO left the company. Meanwhile, 2011 IPO darling <a href="http://www.businessinsider.com/fusion-io-reports-loss-cfo-leaves-2013-10">Fusion-io has been struggling, too</a>.
It seemed brave for Nimble Storage to ask investors to take a chance on another player in this field, the enterprise flash storage market.
Nimble makes a product that combines flash storage and traditional storage tech. Flash is the same type of storage used by thumb drives and smartphones. Flash drives (also called solid state drives) are faster than traditional enterprise storage methods, which use disk drives or tape.
<div class="image-container float_right" style="width:300px"><div class="image">Nimble Storage Suresh Vasudevan, CEO, Nimble</div></div>Vasudevan told us that Nimble has two things over its competitors. For one, its technology is less expensive than some others, which makes it popular with smaller companies. That means it has more potential customers.
He said Nimble is signing up "350 to 400 new customers a quarter."
Second, Nimble has fat profit margins of about 65 points, compared to the typical 40-50 points in the industry, he said. That's because Nimble uses low-cost commodity hardware to build its product. It's secret sauce is its software that makes its storage hardware work faster and store more data than competitors, he said.
Flash storage is becoming a big trend for the enterprise <keyword id="178013" type="ORGANIZATION" weightage="60" keywordseo="Data-center">data center</keyword>. IDC expects it <a href="http://www.idc.com/getdoc.jsp?containerId=prUS24072313">to be a $1.2 billion market by 2015. </a>
Investors want to grab a piece of that and they are, so far, liking what they see in Nimble.

Storage Company Nimble Popped 60% On Its IPO Today - Here's Why

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Welcome back! President Joe Biden's reelection campaign is facing a <a target="_blank" rel="noopener" href="https://www.businessinsider.com/trump-beating-biden-debate-polling-election-2024-7">critical moment</a>. Sen. Peter Welch became the first Senate Democrat to publicly call for the president to <a target="_blank" rel="noopener" href="https://www.businessinsider.com/sen-peter-welch-democrat-calls-biden-drop-out-race-2024-2024-7">drop out of the race</a> — and <a target="_blank" rel="noopener" href="https://www.businessinsider.com/key-democrats-chuck-schumer-nancy-pelosi-open-ditching-biden-2024-7">some Democratic leaders</a> might also now be open to ditching Biden. Hollywood, too, is starting to <a target="_blank" rel="noopener" href="https://www.businessinsider.com/celebrities-who-have-turned-on-joe-biden-2024-7">change its tune</a>.All eyes will be on Biden's solo press conference today closing out this week's NATO summit.But for now, we're turning to Wall Street in our big story, as big banks gear up to report their earnings.What's on deck:<ul><li>Markets: Unless the Fed starts to cut rates soon, millions of <a target="_blank" href="https://www.businessinsider.com/us-job-market-unemployment-rising-federal-reserve-interest-rate-cut-2024-7">Americans could lose their jobs</a>.</li><li>Tech: Samsung just unveiled a host of new products, including <a target="_blank" href="https://www.businessinsider.com/samsung-galaxy-ring-ai-finger-wearables-apple-intelligence-iphone-2024-7">an AI-powered fitness ring</a>.</li><li>Business: Warner Bros. Discovery CEO David Zaslav <a target="_blank" href="https://www.businessinsider.com/wbd-david-zaslav-biden-trump-election-regulation-sun-valley-2024-7/">would like a new president</a>.</li></ul>First, it's (almost) showtime.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="96623c87-7dd6-49a3-8d36-c62b6d2a0b32">The big story</h3><h2 id="4b5c5264-c8aa-405f-8197-d0eded9ba20f">Earnings to watch</h2><div type="image" title="JPMorgan Chase &amp; Co" height="1279" width="1920" msid="111671074" hostid="261" sizebytes="130426"></div>Just like that, it's Wall Street earnings season once again.To kick things off, JPMorgan, Citigroup, and Wells Fargo will be reporting their second-quarter earnings tomorrow.We'll continue to hear results next week, with Goldman Sachs and BlackRock reporting on Monday, and Bank of America and Morgan Stanley on Tuesday.To get a sense of what we could expect from these calls, I spoke with Kaja Whitehouse, a senior finance editor at Business Insider.She told me that, among other things, bankers and investors will be keeping an eye out for updates on Jamie Dimon's retirement, news on banks' AI adoption, and whether more banks will start <a target="_blank" href="https://www.businessinsider.com/chase-warns-pay-free-services-checking-account-2024-7">charging consumers for their checking accounts</a>.<div type="image" title="People walking past JP morgan tower outside" height="1280" width="1920" msid="111671073" hostid="261" sizebytes="281510"></div>To really break it down for you, here's my Slack conversation with Kaja.Is investment-banking activity coming back?Wall Street banks have been waiting for M&amp;A, IPOs, and other fee-generating corporate dealmaking to come roaring back for two years. There are finally signs activity is picking up.When <a target="_blank" href="https://ir.jefferies.com/press-releases/press-release-details/2024/Jefferies-Announces-Second-Quarter-2024-Financial-Results/default.aspx#:~:text=%E2%80%9COur%20second%20quarter%20net%20revenues,particularly%20strong%20performance%20in%20Equities.">Jefferies reported Q2 earnings</a> in June, it said investment-banking revenues grew 8.6% from the previous quarter and 59.4% from the same quarter last year across all business lines. Jefferies is much smaller than JPMorgan and Goldman Sachs, but its earnings are still closely watched as an indication of what's to come.Will Jamie Dimon share more details about his impending retirement?In May, the CEO shocked Wall Street by saying he plans to step down <a target="_blank" href="https://www.businessinsider.com/jpmorgan-ceo-jamie-dimon-hints-retirement-2024-5">in the next five years</a>. As Wall Street's longest running and best known CEO, his replacement and what he plans to do next are big dinner-table topics.Will banks start charging for everyday consumer products like checking accounts?Last week, Marianne Lake, CEO of JPMorgan Chase's consumer and community banking, suggested banks <a target="_blank" href="https://www.businessinsider.com/chase-warns-pay-free-services-checking-account-2024-7">could start charging for things that are currently free</a>. That includes checking accounts and financial planning tools.What's going on with AI?We're always watching for news on AI adoption, including how the tech might help companies maximize their potential and cut costs. Last quarter, BlackRock CEO <a target="_blank" href="https://www.businessinsider.com/blackrock-wants-to-build-the-infrastructure-for-ai-2024-4">Larry Fink said</a> AI has helped the asset manager increase productivity without increasing headcount.<h2 id="afa38848-bdf1-4d03-8378-6614b081886a">3 things in markets</h2><div type="image" title="Photo illustration of a desk on a cliff's ledge." height="2000" width="4000" msid="111671067" hostid="261" sizebytes="446990"></div><ol><li>We're at the edge of an unemployment cliff. The labor market's post-pandemic boom has cooled. Unless the Fed cuts interest rates, the recent unexpected rise in <a target="_blank" href="https://www.businessinsider.com/us-job-market-unemployment-rising-federal-reserve-interest-rate-cut-2024-7">unemployment is going to get worse</a>, economist Neil Dutta argues.</li><li>Private equity preps for commercial real estate grab. Investors have more than $250 billion in cash earmarked for North American properties. That's a sign the firms are gearing up for a <a target="_blank" href="https://www.businessinsider.com/commercial-real-estate-crash-investing-office-property-price-correction-2024-7">well-timed pounce on the beleaguered sector</a>, which is beset by high interest rates and vacancies caused by the remote-work shift.</li><li>After Tesla's big win streak, Elon Musk is once again the world's richest person. <a target="_blank" href="https://markets.businessinsider.com/news/stocks/elon-musk-net-worth-tesla-stock-win-streak-300-billion-2024-7">Musk's net worth grew by $67 million</a> during Tesla's 10-day stock soar, bringing his overall net worth to $274 billion. He surpassed Jeff Bezos, the previous No. 1 Rich Guy, by $53 billion.</li></ol><h2 id="8445eeb9-2ee7-425f-b2b4-0bab141dabbc">3 things in tech</h2><div type="image" title="Overwhelmed worker surrounded by piles of work, with logos of big tech companies (Google, Amazon, Apple, Netflix) overhead, cursors, and broken hearts" height="900" width="1200" msid="111671069" hostid="261" sizebytes="94218"></div><ol><li>No rizz? Big Tech might be to blame. A 35-year-old FAANG manager is ready to settle down, but the demands of his job have made dating in Silicon Valley a struggle. He described the <a target="_blank" href="https://www.businessinsider.com/dating-silicon-valley-big-tech-hard-want-marriage-kids-2024-7">last decade of dating ups and downs</a> — including one dreaded situationship.</li><li>Samsung's ring to rule them all. The Korean electronics giant unveiled its shiniest new device, an <a target="_blank" href="https://www.businessinsider.com/samsung-galaxy-ring-ai-finger-wearables-apple-intelligence-iphone-2024-7">AI-powered fitness tracking ring</a>. The Galaxy Ring is a <a target="_blank" href="https://www.businessinsider.com/guides/tech/samsung-galaxy-ring-release-date-price-features-specs">direct competitor of the Oura Ring</a>, and a step away from the smartwatch, though Samsung still has <a target="_blank" href="https://www.businessinsider.com/guides/tech/samsung-galaxy-watch-7-ultra-release-date-price-features-specs">plenty of those to go around</a>. It also launched two <a target="_blank" href="https://www.businessinsider.com/guides/tech/samsung-galaxy-z-fold-6-flip-6-release-date-price-features-specs">more foldable phones</a>.</li><li>Can these new social apps make their 15 minutes last? You've heard of Instagram and TikTok. Then there was BeReal, followed by Lapse, NGL, and most recently Noplace. If these last few don't ring a bell, it's because they largely haven't lived past the initial buzz. Alternatives to Big Social pop up often, but so far, <a target="_blank" href="https://www.businessinsider.com/social-media-apps-bereal-noplace-retro-rival-instagram-tiktok-2024-7">none have stuck around long</a>.</li></ol><h2 id="52a8619f-db58-413c-acfb-c2d5c83ee4e6">3 things in business</h2><div type="image" title="A photo collage of two blue silhouettes and various housing-related imagery." height="1500" width="2000" msid="111671066" hostid="261" sizebytes="126076"></div><ol><li>Locked out with nowhere to go. Illegal eviction complaints are on the rise, <a target="_blank" href="https://www.businessinsider.com/landlord-illegal-lockout-court-tenant-2024-7">with tenants often left stranded</a>. Those at the margins of the rental market — living in long-stay motels or informal trailer parks, for instance — are <a target="_blank" href="https://www.businessinsider.com/informal-rental-agreement-affordable-housing-illegal-lockout-2024-7">especially vulnerable</a>. To make matters worse, <a target="_blank" href="https://www.businessinsider.com/illegal-wrongful-evictions-law-enforcement-police-court-2024-7">police rarely crack down on the landlords</a>.</li><li>David Zaslav would like a new president. The Warner Bros. Discovery CEO, like many tech and media bosses, isn't a fan of Joe Biden's antitrust policies. But while others in the biz shy away from saying it outright, Zaslav has made it clear: He wants <a target="_blank" href="https://www.businessinsider.com/wbd-david-zaslav-biden-trump-election-regulation-sun-valley-2024-7/">someone else in charge</a>.</li><li>Montana's housing crisis is a warning for older homeowners. Owning a home doesn't guarantee financial security in old age, as <a target="_blank" href="https://www.businessinsider.com/home-prices-montana-retired-boomer-homeowners-losing-houses-insurance-taxes-2024-7">Montana's current housing issue shows</a>. Though home values have skyrocketed, so have the costs associated with ownership, which can leave older homeowners with no choice but to downsize.</li></ol><h2 id="ed3a6986-5544-43ac-967e-03b7605cbe61">In other news</h2><ul><li><a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/biden-new-york-swing-district-democrats-trump-election-2024-7">Biden faces a closer race in deep blue New York, a huge problem for swing-district Democrats</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/costco-raising-membership-fee-gold-star-executive-cost-2024-7">Costco is raising its membership fee for the first time in 7 years</a>.</li><li><a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/brain-expert-explains-cognitive-test-for-president-not-easy-2024-7">A brain expert explains the cognitive test used to assess a president's mental fitness. It's not easy</a>.</li><li><a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/index-ventures-investor-departures-new-funds-2024-7">An exodus of investors is underway at Index Ventures on the back of a $2.3 billion fundraise</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/microsoft-apple-ditch-openai-board-observer-seats-regulators-2024-7">Microsoft and Apple may be playing the long game by ditching OpenAI board roles</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/why-amazon-wants-you-to-pick-up-prime-day-orders-2024-7">Why Amazon wants you to pick up your Prime Day orders this year</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/costco-hourly-workers-get-pay-raise-increase-ceo-memo-2024-7">Costco's hourly workers are getting a raise — read the CEO's memo</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/fisker-founder-ceo-cuts-salary-1-dollar-cover-bankruptcy-costs-2024-7">Fisker founder cuts salary to $1 to cover bankruptcy costs</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/donald-trump-mark-zuckerberg-sent-prison-elected-truth-social-2024-7">Donald Trump threatens to send Mark Zuckerberg to prison if he is elected</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/gen-z-need-financial-support-parents-family-study-2024-7">Gen Zs are better at 'loud budgeting,' but nearly half still need financial support from family: study</a>.</li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/clarence-thomas-accepted-free-yacht-trip-to-putins-hometown-2024-7">Clarence Thomas accepted a free yacht trip to Russia and got flown out on a complimentary helicopter ride to Putin's hometown, 2 Democratic senators say</a>.</li></ul><h2 id="6a8f1287-3363-4169-8e52-5148aa0c9e02">What's happening today</h2><ul><li>Delta Air Lines, PepsiCo, and other companies <a target="_blank" href="https://markets.businessinsider.com/earnings-calendar">are reporting earnings</a>.</li><li>CPI data is released by the Bureau of Labor Statistics.</li><li>President Biden wraps NATO summit with a press conference.</li></ul>The Insider Today team: Jordan Parker Erb, editor, in New York. Lisa Ryan, executive editor, in New York. Joe Ciolli, executive editor, in Chicago. Hallam Bullock, senior editor, in London. Annie Smith, associate producer, in London. Amanda Yen, fellow, in New York.

Welcome back to Wall Street earnings season

<ul><li>Tiger Global, Think Investments and Malabar Investments participated in the round.</li><li>The company will be exploring mergers and acquisitions to expand its business.</li><li>A part of the funding will also be used to buyback shares from the company's employees.</li></ul>Messaging platform <keyword id="755674" type="COMPANY" weightage="20" keywordseo="GupShup">Gupshup</keyword>, which became a unicorn earlier in April 2021, has raised an additional funding of $240 million in a follow-on funding round. Several marquee investors like Fidelity Management and Research Company LLC, Tiger Global, Think Investments, Malabar Investments, Harbor Spring Capital participated in the round, along with certain accounts managed by Neuberger Berman Investment Advisers LLC, White Oak, and others. A unicorn is a startup valued at or more than $1 billion. The 17-year-old company will use this funding to invest in its product and also enable buyback shares from existing and former employees. The company will also be providing partial exits to few of its initial investors. Gupshup is also exploring merger and acquisition (M&amp;A) opportunities to expand its business, it announced in the press release. “We have followed Gupshup’s progress for a long while and believe that they are the most evolved customer communications platform In India and increasingly in other emerging markets, with a leadership position in the most attractive and fastest growing sub-segments of the market,” said Sumeet Nagar, managing director of Malabar Investments. Gupshup was founded by Beerud Sheth in 2004. It is a conversational messaging platform that enables businesses to manage internal communications. The company provides a platform for developers to build bots for SMS, Twitter, Slack, WeChat, Teamchat and others. The company’s clientele is spread across banking, ecommerce, hospitality, consumer goods and other industries. A few big names in its client list are Zomato, Flipkart, HDFC Bank, and others. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/the-whole-truth-a-healthy-packaged-food-brand-raises-6-million-from-sequoia-capital/articleshow/84815594.cms">The Whole Truth, a ‘healthy’ packaged food brand, raises $6 million to enter new categories </a> <a href="https://www.businessinsider.in/stock-market/news/rolex-rings-ipo-opens-on-july-28-and-closes-on-july-30-with-a-price-band-of-880-900/articleshow/84813639.cms">Rolex Rings IPO opens today with a price band of ₹880-900</a>

Business communication platform Gupshup raises $240 million, to buyback ESOPs

<ul><li>The company was founded by Shashank Mehta in 2019 to offer health alternatives for packaged food.</li><li>The <keyword id="11733786" type="UNKNOWN" weightage="20" keywordseo="whole-truth">Whole Truth</keyword> plans to use this funding to hire talent and expand its manufacturing capabilities. </li><li>The round was led by <keyword id="122716" type="CITY" weightage="20" keywordseo="Sequoia-Capital">Sequoia Capital</keyword>, with participation from <keyword id="366603" type="COMPANY" weightage="20" keywordseo="Matrix-Partners-India">Matrix Partners India</keyword> and Sauce.vc.</li></ul> Healthy packaged food startup The Whole Truth (TWT) has raised $6 million in its Series A round led by Sequoia Capital India. The company plans to use this funding to hire talent and expand its manufacturing capabilities. The company was founded by Shashank Mehta in 2019 to offer healthier alternatives for packaged food. The company currently makes muesli, protein bars, energy bars and immunity balls. The company claims that their products have eliminated all hidden sugars, artificial flavours and harmful preservatives. "Sequoia Capital India is thrilled to partner with Shashank [Mehta] and [the] rest of the team at The Whole Truth. They have a simple yet very powerful mission of making 100% clean-label food. We have been very impressed with the customer's love for their early set of products and excited about the journey ahead," Abhishek Mohan, Principal at Sequoia India, said. Rachna Aggarwal, a bakery chef and chocolatier with over 15 years of relevant experience, heads The Whole Truth’s product development and creates these products under the company’s label. A part of the funding will also be used by the company to enter new food categories, where less or no healthy alternatives are available. “At TWT, we’re hell-bent on bringing truth back to food. We do this through our 100% clean-label products, and through clutter breaking content that helps consumers spot the misleading information they’re being provided,” Shashank Mehta, founder of The Whole Truth, said in a statement. The Whole Truth’s existing investors Matrix Partners India and Sauce.vc have also participated in this Series A funding round, along with angel investors like Flipkart’s Kalyan Krishnamurthy, Udaan’s Sujeet Kumar, BharatPe’s Ashneer Grover and Shashvat Nakrani. Prior to this, the company had raised funding from Zerodha’s Nithin Kamath, Swiggy’s Sriharsha Majety and Rebel Foods’ Jaydeep Barman. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/rolex-rings-ipo-opens-on-july-28-and-closes-on-july-30-with-a-price-band-of-880-900/articleshow/84813639.cms">Rolex Rings IPO opens today with a price band of ₹880-900</a> <a href="https://www.businessinsider.in/stock-market/news/interglobe-aviation-maruti-suzuki-indusind-bank-and-other-stocks-to-watch-out-for-on-july-28/slidelist/84812927.cms">InterGlobe Aviation, Maruti Suzuki, IndusInd Bank and other stocks to watch out for on July 28</a> <a href="https://www.businessinsider.in/business/news/ratan-tatas-fund-backed-axio-biosolutions-raises-6-million-to-strengthen-its-position-in-india/articleshow/84790703.cms">Ratan Tata’s fund-backed Axio Biosolutions raises $6 million to strengthen its position in India</a>

The Whole Truth, a ‘healthy’ packaged food brand, raises $6 million to enter new categories

Welcome to <keyword id="11910360" type="UNKNOWN" weightage="60" keywordseo="insider-cannabis" source="Orion">Insider Cannabis</keyword>, our weekly <keyword id="11894123" type="UNKNOWN" weightage="60" keywordseo="newsletter" source="Orion">newsletter</keyword> where we're bringing you an inside look at the deals, trends, and personalities driving the multibillion-dollar global <keyword id="11910359" type="UNKNOWN" weightage="100" keywordseo="cannabis" source="Orion">cannabis</keyword> boom.<a href="http://newsletter.businessinsider.com/join/cultivated">Sign up here to get it in your inbox every week</a>.Hello everyone,It's deal mania in cannabis land this week. As I reported in September, the <a href="https://www.businessinsider.com/top-cannabis-acquisition-targets-after-terrascend-gage-deal-viridian-2021-9">pullback in the sector has created a buyer's market</a> - and buyers, are, well, they're buying. A lot.To that end, Canadian company Canopy Growth scooped up Colorado gummy company Wana Brands in a bid to expand its US footprint ahead of possible federal legalization. Canopy's CEO David Klein told me in an early morning interview that edibles are a "great format" for bringing new consumers into the fold. "We're building that ecosystem for the US," he said.Dutchie closed a $350 million round, after raising $250 million in March - it's now worth $3.75 billion. Flowhub got Jay-Z to invest. Cresco Labs expanded its presence in Pennsylvania by buying Laurel Harvest. Of note: Laurel Harvest was founded by Merida Capital Holdings' Mitch Baruchowitz, who told me he's the largest shareholder. As I said, it's deal mania.We're keeping you up-to-date on all of this. To those of you heading out to MJBizCon in Vegas next week, we're sad we won't be there this year. But we're hoping to be out there in full force next year once the pandemic's behind us.Let's get to it. - Jeremy Berke (<a href="https://twitter.com/jfberke">@jfberke</a>) If you like what you read, share this newsletter with your colleagues, friends, boss, spouse, strangers on the internet, or whomever else would like a weekly dose of cannabis news. Here's what we wrote about this week:<h3><a href="https://www.businessinsider.com/fis-hiring-strategy-lead-cannabis-cbd-payments-tech-2021-10">FIS is hiring a new strategy lead focused on the cannabis and CBD industry, as the payments giant looks to tap into a 'new, high growth space'</a></h3>FIS is hiring a senior strategy manager to lead a new cannabis and CBD team. The hire will define the product roadmap and legal requirements to support cannabis and CBD merchants.Other payments players, like Square, have started working with CBD merchants, too.<h3><a href="https://www.businessinsider.com/prohibition-holdings-4-million-series-b-pitch-deck-cannabis-tech-startup-2021-10">Here's an exclusive look at the 17-slide presentation cannabis startup Prohibition Holdings is using to raise $4 million to become a must-have tool for investors in the industry</a></h3>Prohibition Holdings provided its Series B pitch deck exclusively to Insider. CEO Stephen Murphy says the company is hoping to raise £3 million, or just over $4 million.<h3><a href="https://www.businessinsider.com/cannabis-tech-startup-dutchie-lands-375-billion-valuation-led-by-d1-2021-10">Billionaire Dan Sundheim's D1 Capital is making a big bet on cannabis tech unicorn Dutchie, now valued at $3.75 billion</a></h3>Dutchie closed a $350 million funding round, valuing the company at $3.75 billion. The round was led by Dan Sundheim's D1 Capital Partners. Cannabis tech has been a hot area for investors in recent months.<h2>Deals, launches, and IPOs</h2><ul><li>Cannabis e-commerce startup Dutchie closed a $350 million Series D funding round led by D1 Capital Partners. The round values the company at $3.75 billion. <a href="https://www.businessinsider.com/cannabis-tech-startup-dutchie-lands-375-billion-valuation-led-by-d1-2021-10">Read more here</a>.</li><li>Canopy Growth will buy US edibles manufacturer Wana Brands for nearly $300 million, the <a href="https://www.prnewswire.com/news-releases/canopy-growth-announces-plan-to-acquire-wana-brands-the-1-cannabis-edibles-brand-in-north-america-301399959.html">company said on Thursday</a>. The deal will close upon "federal permissibility" in the US. </li><li>Cresco Labs is buying Pennsylvania cannabis company Laurel Harvest <a href="https://www.businesswire.com/news/home/20211014005257/en/Cresco-Labs-to-Expand-Leadership-in-Pennsylvania-Through-Acquisition-of-Vertically-Integrated-Operator-Laurel-Harvest">for $80 million</a>. </li><li>Cannabis delivery service Lantern is <a href="https://www.prnewswire.com/news-releases/lantern-spins-off-drizly-group-with-40m-capital-announces-leadership-changes-301398903.html">spinning out</a> of alcohol delivery service Drizly after Uber completed its acquisition of Drizly. As part of the spinout, Lantern raised $40 million. </li><li>Cannabis real estate firm Pelorus Equity Group landed <a href="https://www.globenewswire.com/news-release/2021/10/14/2314249/0/en/Pelorus-Equity-Group-is-First-in-the-Cannabis-Sector-to-Secure-an-Up-to-20M-Line-of-Credit-at-4-75-with-a-FDIC-Insured-Bank.html">a $20 million credit line</a> at 4.75% from an undisclosed bank. </li><li>Cannabis tech startup Flowhub <a href="https://www.prnewswire.com/news-releases/flowhub-announces-19-million-strategic-funding-led-by-headline-poseidon-and-shawn-jay-z-carter-301397403.html">raised a $19 million funding round</a>, valuing the company at around $200 million. </li></ul><h2>What we're reading:</h2><a href="https://www.sfchronicle.com/crime/article/Inside-the-Bay-Area-s-biggest-ever-marijuana-16502811.php">Inside the Bay Area's biggest-ever marijuana bust: gym bags stuffed with cash, 40 Rolexes and $1,000 bottles of wine</a> (SF Chronicle)<a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fcanadas-pot-companies-are-missing-the-best-party-11633788183">Canada's Pot Companies Are Missing the Best Party</a> (The Wall Street Journal)<a href="https://theconversation.com/cannabis-store-openings-in-canada-only-slightly-affected-the-number-of-users-169055">Cannabis store openings in Canada only slightly affected the number of users</a> (The Conversation)<a href="https://www.businessinsider.com/legal-cannabis-in-new-york-city-stores-2021-10">What will legal cannabis sales look like in New York City? Not even the biggest dispensary chain in the US knows</a>. (Insider)

Insider Cannabis: FIS comes for cannabis

<ul><li>The monsoon session of the <keyword id="145182" type="ORGANIZATION" weightage="20" keywordseo="Indian-Parliament">Indian parliament</keyword> began on July 19 and is almost half way through.</li><li>Several pressing matters have been raised during this session regarding the COVID-19 situation, farmers' protest and more.</li><li>However, when faced with questions, the government has cited lack of data on at least four issues listed below.</li><li>The session is scheduled to close on August 13 and several other matters like Pegasus spyware are yet to be discussed.</li></ul>It has already been more than 10 days since the Indian parliament kicked off its monsoon session on July 19, 2021. Lot of important questions have been raised over several long hours of discussions and brawl, however, not all have been answered. From death due to oxygen shortage during the pandemic to cryptocurrency investments, these are the pressing issues for which the <keyword id="44734" type="ORGANIZATION" weightage="20" keywordseo="Indian-Government">Indian government</keyword> has simply slid past saying it has no data in hand. ‘No one died due to oxygen shortage’ If the first wave of COVID-19 brought Indian healthcare system to its knees, the second one was a blade on the neck. The South Asian country witnessed the worst healthcare crisis in its history, with people looking for hospital beds, oxygen cylinders and concentrators, COVID-19 medicines and other necessary equipment over Twitter. Many lost their lives in this struggle. However, Union Minister of State for Health and Family Welfare Bharati Pravin Pawar in the Rajya Sabha, a day after the monsoon session began,<a href="https://www.thehindu.com/news/national/parliament-proceedings-no-deaths-reported-due-to-lack-of-oxygen-health-ministry-tells-rajya-sabha/article35428791.ece"> said</a>, “no deaths due to lack of oxygen have been specifically reported by states/union territories’ during the second wave of COVID-19. This led to a nationwide outrage. ‘Farmers death, what?’ The farmers of <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> took to streets in September 2020, after the government passed three farm acts. On 30 November 2020, an estimated crowd of 200,000 to 300,000 farmers were walking to the national capital of Delhi to make their voices heard. The protest went on for close to ten months, however the government has no data on how many people have lost their lives during this course. As per a press release issued by the Samyukt Kisan Morcha (Joint Farmers’ Force), a coalition of over 40 farmers’ unions, 537 farmers have died in the agitation till date. SKM has also updated the<a href="https://humancostoffarmersprotest.blogspot.com/2020/12/list-of-deaths-in-farmers-protest-at.html"> list of farmers</a> who have died during the protest since November 24 last year. However, the Minister of Agriculture and Farmers Welfare Narendra Singh Tomar, in the parliament, said that the government has no record of farmers having died or fallen ill during the protests. ‘Black money is white money painted in a different colour’ Indian Prime Minister Narendra Modi’s speech of 8 November 2016, while announcing the demonetisation of some currency notes, was a historical moment against black money in India. <div type="ExtQuote" text="“To break the grip of corruption and black money, we have decided that the five hundred rupee and thousand rupee currency notes presently in use will no longer be legal tender from midnight tonight, that is 8th November 2016. This means that these notes will not be acceptable for transactions from midnight onwards. The five hundred and thousand rupee notes hoarded by anti-national and anti-social elements will become just worthless pieces of paper.”" auname="— Narendra Modi, demonetisation speech of 2016."></div> He also highlighted the government passed a law 'The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015', soon after taking over the office, for disclosure of foreign black money. The country had signed agreements with many countries, including the USA, to add provision for sharing banking information. Cut to 2021, there is no data available. The Minister of State for Finance, Pankaj Chaudhary, has informed that there is <a href="https://www.dnaindia.com/india/report-no-official-estimate-of-black-money-stashed-in-swiss-banks-centre-tells-parliament-2902569">no official </a>estimate of the amount of black money deposited in Swiss banks in the decade. According to data shared by Switzerland's central bank, Indian individuals and firms have deposited over CHF 2,554.7 million or<a href="https://scroll.in/latest/997838/indian-deposits-in-swiss-banks-rise-to-over-rs-20700-crore-highest-in-13-years"> ₹20,700 crore</a> in Swiss Banks in 2020. All of this may not be black money, but it’s a good data point to begin with. The Indian government, in 2019, said that it has an information sharing agreement with the Swiss authorities. Yet they have no data to show in 2021. ‘Cryptocurrency bill on the way, but no data yet’ Indian Finance Minister Nirmala Sitharaman informed the Rajya Sabha (Upper House) on July 27 that the government does not collect any information on the number of cryptocurrency exchanges and investors in India. It does sound fair, but not when the government of India has been pushing to <a href="https://www.businessinsider.in/cryptocurrency/news/indias-crypto-bill-is-unlikely-to-be-up-for-discussion-this-month-and-it-may-be-a-while-before-we-see-it-in-parliament/articleshow/84401863.cms">regulate cryptocurrency</a> in India since 2019. As per the <a href="https://www.moneycontrol.com/news/business/economy/no-information-collected-on-number-of-crypto-exchanges-and-investors-in-india-finance-minister-nirmala-sitharaman-7232611.html">data </a>shared by crypto exchanges, there are about 15 million Indian cryptocurrency investors, with holdings worth ₹15,000 crore ($2 billion) cumulatively. There are 350 startups that operate in the blockchain and crypto space, as per the crypto currency exchanges. Besides this, Sitharaman also mentioned that the government of India has no information on drug trafficking and money laundering that is being carried out through crypto exchanges. ‘No one dies due to manual scavenging’ No deaths have been reported due to manual scavenging in India over the last five years, the minister for Social Justice and Empowerment Ramdas Athawale said in the Rajya Sabha on <a href="https://thewire.in/government/centre-says-no-death-reported-due-to-manual-scavenging-activists-decry-govt-response">July 29</a>. If only, the ministry had thought of going through this year’s budget session thoroughly. Athawale, during his own speech during the budget session, highlighted<a href="https://www.thehindu.com/news/national/340-sewer-cleaning-deaths-in-past-5-years-government/article33732992.ece"> 340 people </a>died while cleaning sewers and septic tanks in the last five years till December 31, 2020. He also noted that 66,692 manual scavengers have been identified across the country. ‘Information on witnesses killed, turned hostile not maintained centrally’ The Minister of State for Home Affairs, Nityanand Rai, has informed the parliament that the government has no data of the cases where key witnesses were killed or turned hostile. “The Witness Protection Scheme, 2018 provides that the witness protection measures ordered shall be proportionate to the threat and shall be for a specific duration not exceeding three months at a time," Rai added. However, these cases are fairly common in India. In March 2021, the family and lawyers of the 19-year-old Dalit girl who was allegedly gang raped and murdered in Hathras in 2020, were <a href="https://www.ndtv.com/india-news/allahabad-high-court-on-threats-to-hathras-family-will-consider-shifting-trial-2395571#:~:text=The%20affidavit%20said%20that%20the,stated%20that%20it%20was%20%22evident">threatened </a>before the special court where the case was pending. ‘Hospital beds data not available’ The Minister of State for Health and Family Welfare, Dr. Bharati Pravin Pawar, informed that the government of India does not centrally maintain the data of hospital beds. This is majorly because health is a state subject, meaning it's up to the governments in states and union territories (UT) to increase the bed strength in their hospital. Despite this, Pawar shared that India has an isolation and ICU bed capacity of 18.21 lakh and 1.22 lakh, respectively. If the government had data on isolation and ICU beds, then the question remains why doesn’t it have information on hospital beds. ‘No data available for MSMEs that went under’ When the member of parliaments (MPs) asked the government for details on the number of micro, small and medium enterprises (MSMEs), which shut down during the pandemic. Instead of the data, the government listed the steps taken by the Reserve Bank of India (RBI) for extension and restructuring of credit. It even cited two surveys, which stated 88% of MSMEs were affected by the pandemic. ‘No data on deaths due to air pollution’ Minister of State for Environment, Forest And Climate Change Ashwini Kumar Choubey informed the parliament that they do not have any conclusive data to establish a direct correlation of death/disease exclusively due to air pollution. According to ‘States of India: The Global Burden of Disease Study 2019’ <a href="https://www.thehindu.com/news/national/17-million-deaths-in-india-were-attributable-to-air-pollution-in-2019-says-study/article33394600.ece">report</a>, nearly 1.7 million deaths in India were attributed to air pollution in 2019. This was 18% of the total deaths in the country. ‘No updates on how many lost jobs during second wave of COVID-19’ A few MPs asked the government for details on the number of casual or contractual employees who lost their jobs during the second wave of COVID-19. However, the government did not share any such details. Instead, it listed out several initiatives undertaken by the government to boost hiring. [This is a developing story. The article will be updated as the government shares more details about the lack of data in their repository.] SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/droom-automobile-marketplace-raises-200-million-in-a-pre-ipo-round-at-unicorn-valuation/articleshow/84818567.cms">Automobile marketplace Droom is raising $200 million in a pre-IPO round at unicorn valuation</a> <a href="https://www.businessinsider.in/business/startups/news/the-whole-truth-a-healthy-packaged-food-brand-raises-6-million-from-sequoia-capital/articleshow/84815594.cms">The Whole Truth, a ‘healthy’ packaged food brand, raises $6 million to enter new categories</a> <a href="https://www.businessinsider.in/stock-market/news/rolex-rings-ipo-opens-on-july-28-and-closes-on-july-30-with-a-price-band-of-880-900/articleshow/84813639.cms">Rolex Rings IPO opens today with a price band of ₹880-900</a>

There are at least 10 hot issues in India that the government has no data for

Hi, I'm Matt Turner, the editor-in-chief of business at Insider. Welcome back to <keyword id="11921772" type="UNKNOWN" weightage="60" keywordseo="insider-weekly" source="Orion">Insider Weekly</keyword>, our roundup of our top business stories of the week. But before we get to that, please take a moment to read through Insider's ongoing coverage of Russia's unprovoked attack on Ukraine, which marks Europe's first major war in decades.Our global news team has been covering this crisis around the clock, and <a href="https://www.businessinsider.com/live-updates-russia-ukraine-crisis-2022-2">you can follow their live reporting here.</a>The cost of war is immeasurable. And while the primary focus should remain on the people of Ukraine, the events playing out there have ripple effects through global <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> and across the economy. Stocks, currencies, and commodities all went careening off in different directions upon news of Russia's invasion on Ukraine. Our first business story today takes a look at what's going on in the markets.<h3>On the agenda today:</h3><ul><li>Wall Street is on the <a href="https://www.businessinsider.com/wall-street-wash-out-federal-reserve-inflation-stock-market-crash-2022-2">verge of a cataclysmic shift.</a></li><li><keyword id="13267971" type="UNKNOWN" weightage="60" keywordseo="costar" source="Orion">CoStar</keyword>, real estate's biggest data firm, experienced <a href="https://www.businessinsider.com/working-at-costar-employee-turnover-pandemic-remote-work-andrew-florance-2022-2">a mass exodus in 2021.</a></li><li>Twenty-nine Black business owners weigh in <a href="https://www.businessinsider.com/black-business-owners-talk-entrepreneurship-history-2022-2">on the state of Black entrepreneurship.</a></li><li>Many early <keyword id="12017929" type="UNKNOWN" weightage="60" keywordseo="bumble" source="Orion">Bumble</keyword> staffers got nothing <a href="https://www.businessinsider.com/angry-bumble-employees-no-stock-options-ipo-wolfe-herd-andreev-2022-2">as its CEO was made a post-IPO billionaire.</a></li></ul>Let me know what you think of all our stories at <a href="mailto:mturner@insider.com">mturner@insider.com</a>.<a href="https://www.businessinsider.com/subscription">Subscribe to Insider</a> for access to all our investigations and features. New to the <keyword id="11894123" type="UNKNOWN" weightage="60" keywordseo="newsletter" source="Orion">newsletter</keyword>? <a href="https://www.businessinsider.com/subscription/newsletter/insider-weekly">Sign up here.</a> Download our app for news on the go — <a href="https://apps.apple.com/app/apple-store/id554260576?mt=8">click here for iOS</a> and <a href="https://play.google.com/store/apps/details?id=com.freerange360.mpp.businessinsider">here for Android.</a><h3><a href="https://www.businessinsider.com/wall-street-wash-out-federal-reserve-inflation-stock-market-crash-2022-2">What elite investors are saying about the market</a></h3><a href="https://www.businessinsider.com/wall-street-wash-out-federal-reserve-inflation-stock-market-crash-2022-2"></a>For the stock market in particular, the latest geopolitical shock <a href="https://markets.businessinsider.com/news/stocks/russia-invasion-ukraine-stock-market-investors-interest-rates-fed-inflation-2022-2">adds to a long list of worries</a>. Stocks entered <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-dow-ukraine-tensions-rise-2022-2">correction territory</a> even before the invasion commenced, before snapping back <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-dow-russia-ukraine-fed-rate-hikes-2022-2">on Friday</a>.As Linette Lopez reported this week, several elite Wall Street investors <a href="https://www.businessinsider.com/wall-street-wash-out-federal-reserve-inflation-stock-market-crash-2022-2">were already predicting the end of an era.</a>Referring to the meme-stock, SPAC, and crypto-crazed exuberance of the past few years, one billionaire investor told Linette:"We really did hit peak stupid, but peak stupid extended beyond truly, truly stupid, and then we went to bottom-of-the-ocean-rare-earth-metal-companies stupid."That all seems particularly frivolous in light of the suffering of the past few days.Here, Linette explains:Wall Street's on the verge of a "washout." How did we get here?Linette: We got to the washout because after over a decade of low interest rates, a lot of Wall Street forgot to respect the fundamentals of business analysis in favor of chasing growth fads. That's what happens during bubbles — people forget themselves.Who is well-positioned to get through it?Linette: Those positioned to survive this market are either nimble enough to get out of growth companies as interest rates rise or those who are positioned in companies with good fundamentals. There will be some fun short-selling too if you have the constitution for it.Did anyone tell you anything that surprised you while writing this?Linette: The notable thing about this story is how unsurprising this outcome has been — not just for the last year, but since 2018 when the market puked after Jerome Powell raised rates. We all knew the kind of pain hiking rates would bring to stocks, but the bubble was allowed to continue growing, retail investors got heavily invested, and now this pop will ring louder than it might have in 2018.Read the full story here: <a href="https://www.businessinsider.com/wall-street-wash-out-federal-reserve-inflation-stock-market-crash-2022-2">'We really did hit peak stupid': Elite investors on Wall Street say privately that the market is about to undergo a cataclysmic shift — and many won't survive the 'washout'</a><h3><a href="https://www.businessinsider.com/working-at-costar-employee-turnover-pandemic-remote-work-andrew-florance-2022-2">Inside CoStar's employee exodus</a></h3><a href="https://www.businessinsider.com/working-at-costar-employee-turnover-pandemic-remote-work-andrew-florance-2022-2"></a><div type="image" title="Costar CEO in front of office space with record frames surrounding the desks" height="900" width="1200" msid="89873633" hostid="261"></div>The real-estate data powerhouse CoStar saw a wave of employee departures last year, with about 37% of its US employees leaving the company in 2021. Twenty-nine current and former employees told Insider that CoStar surveilled and humiliated workers, prompting a mass exodus. According to the employees, the surveillance worsened during the pandemic: Managers were instructed to track their employees down to the minute, keeping an eye on when they logged on as well as their messaging and phone calls. <a href="https://www.businessinsider.com/working-at-costar-employee-turnover-pandemic-remote-work-andrew-florance-2022-2">Why employees headed for the exits. </a><h3><a href="https://www.businessinsider.com/black-business-owners-talk-entrepreneurship-history-2022-2">Black entrepreneurs discuss the future of business</a></h3><a href="https://www.businessinsider.com/black-business-owners-talk-entrepreneurship-history-2022-2"></a><div type="image" title="A person in a blue headband smiles with a book in front of her mouth" height="809" width="1080" msid="89873635" hostid="261"></div>Black entrepreneurs say the murder of George Floyd in 2020 and the racial reckoning that followed led to a surge in support for their businesses — but that as media attention died down, so did some of the support. Insider spoke with 29 Black business owners to gather their thoughts on the past and future of Black entrepreneurship and how those legacies affect our culture today.<a href="https://www.businessinsider.com/black-business-owners-talk-entrepreneurship-history-2022-2">Read their reflections on entrepreneurship.</a><h3><a href="https://www.businessinsider.com/angry-bumble-employees-no-stock-options-ipo-wolfe-herd-andreev-2022-2">Bumble's early employees got nothing from its IPO</a></h3><a href="https://www.businessinsider.com/angry-bumble-employees-no-stock-options-ipo-wolfe-herd-andreev-2022-2"></a><div type="image" title="Bumble founder Whitney Wolfe Herd stands behind a table with the company stock ticker in an illustration that shows silhouettes in front of her." height="1310" width="1746" msid="89873637" hostid="261"></div>The Bumble CEO Whitney Wolfe Herd's "Faustian bargain" with a Russian mogul helped her rake in big money after the dating app went public in 2021, but for dozens of early employees who didn't get any equity before the initial public offering, the dating app's stock-market debut left them feeling short-changed. "On the one hand, you're proud of what you've done," said a former employee. "The company exists because of all the hard work you've done. But as far as the company history and our own bank accounts go, we might as well have never been there."<a href="https://www.businessinsider.com/angry-bumble-employees-no-stock-options-ipo-wolfe-herd-andreev-2022-2">Here's what else employees told us.</a><h3>More of this week's top reads:</h3><ul><li>Chris Licht will be CNN's new leader, succeeding Jeff Zucker as <a href="https://www.businessinsider.com/cnn-ukraine-coverage-audiences-insiders-purpose-pride-after-zucker-exit-2022-2">Ukraine coverage brings new purpose to the network.</a></li><li>Whether you like it or not, this scam is built into <a href="https://www.businessinsider.com/title-insurance-scam-mortgage-homebuying-2022-2">every mortgage. </a></li><li>Stay-at-home moms open up about the "motherhood penalty" that's <a href="https://www.businessinsider.com/stay-at-home-moms-open-up-about-the-motherhood-penalty-2022-2">kept them out of work.</a></li><li>Experts share the warning signs that <a href="https://www.businessinsider.com/housing-market-crash-coming-warning-signs-bubble-indicators-lachman-zelman-2022-2">a real-estate downfall is coming.</a></li><li>Dollar Shave Club didn't deliver as expected. <a href="https://www.businessinsider.com/why-dollar-shave-club-didnt-work-out-for-unilever-2022-2">Experts explain why.</a></li><li>Top execs from major private-equity firms like Blackstone share their strategies <a href="https://www.businessinsider.com/private-equity-firms-fintech-investing-strategy-blackstone-warburg-pincus-advent-2022-2">for investing in fintech.</a></li><li>We broke down how much you could earn in <a href="https://www.businessinsider.com/google-salary-data-software-engineers-search-cloud-research-hardware-2022-2">dozens of different roles at Google. </a></li><li>They wanted to be a bitcoin millionaire. Instead, they lost everything. <a href="https://www.businessinsider.com/addicted-to-trading-bitcoin-led-to-millions-and-losing-everything-2022-2">Inside the life of a bitcoin addict. </a></li></ul>You're invited: Join us on Thursday, March 10, at 1 p.m. ET for a live discussion on how ghost kitchens are transforming the way restaurants do business. <a href="https://www.businessinsider.com/future-of-ghost-kitchens-in-the-us-webinar-2022-2">Sign up here. </a>Curated by Matt Turner. Edited by Jordan Parker Erb and Lisa Ryan. <a href="https://www.businessinsider.com/subscription/newsletter">Sign up for more Insider newsletters here.</a>

Elite investors have formed a quiet consensus: 2022 is going to be very, very ugly for the stock market

<ul class="summary-list"><li><keyword id="13132074" type="UNKNOWN" weightage="60" keywordseo="shahid-buttar" source="Orion">Shahid Buttar</keyword> is running his third race to try and unseat House Speaker <keyword id="128640" type="UNKNOWN" weightage="60" keywordseo="nancy-pelosi" source="Orion">Nancy Pelosi</keyword> in California.</li><li>He's been critical of her financial dealings for years.</li></ul>Nancy Pelosi's challenger in California thinks putting the House speaker on blast for supporting congressional stock trading might finally pay dividends for him in his third attempt at unseating the long-term lawmaker. "She spent 34 years enriching herself at the public's expense. And this is how," Shahid Buttar, a Democrat who unsuccessfully ran against Pelosi in 2020 and 2018, told Insider in an exclusive interview. Pelosi is <a href="https://www.businessinsider.com/nancy-pelosi-running-for-reelection-house-california-democrats-2022-1">running for reelection</a> to a 19th term even as she takes heat from anti-corruption advocates and lawmakers from both parties the past two months for saying lawmakers should enjoy the "<a href="https://www.businessinsider.com/we-are-free-market-economy-pelosi-rejects-stock-ban-congress-2021-12">free market economy</a>" and continue to trade in individual stocks."The only reason we're having this conversation is because somebody actually showed up for work and asked Nancy Pelosi last year to defend an indefensible practice," Buttar said of the ongoing uproar sparked by Insider's "<a href="https://www.businessinsider.com/conflicted-congress-key-findings-stock-act-finances-investing-2021-12">Conflicted Congress</a>" project. The months-long investigation revealed that dozens of federal lawmakers and nearly 200 senior-level congressional staffers have violated the <a href="https://www.oge.gov/web/OGE.nsf/0/A709C70885CBAB8D852585B6005A12F9/$FILE/3f9ea6240ac14444bf3bcd7125b5d06a2.pdf">Stop Trading on Congressional Knowledge Act</a> and rarely get penalized for it. Senate Majority Leader Chuck Schumer <a href="https://www.businessinsider.com/senate-schumer-vote-banning-lawmakers-trading-stocks-ossoff-2022-2">recently asked</a> Democrats pushing <a href="https://www.businessinsider.com/pretty-dangerous-democracy-members-congress-want-ban-stock-trading-2022-1">competing stock trading proposals</a> to find common ground in order to expedite bringing some sort of fix to the floor for a vote. Across the Capitol, Pelosi tasked House Administration Committee Chairwoman Zoe Lofgren with reviewing legislative options on the stock banning front. Pelosi said she's <a href="https://www.businessinsider.com/if-members-want-nancy-pelosi-reverses-on-stock-trade-ban-2022-1">open to changes "if members want to do that.</a>" Pelosi's spokesman Drew Hammill told Insider that "recommendations will be made soon," but declined to comment on the prospects of a House vote before the midterm elections in November. While Buttar, who faces a longshot bid to unseat Pelosi, said he's glad the rest of the world has finally caught up, he's also apoplectic that it took everyone so long. He called Pelosi out about her finances in April 2021, <a href="https://twitter.com/ShahidForChange/status/1382121911119876097">inquiring on social media</a> whether she was serving "her constituents or her $140-million portfolio.""This is unapologetic, open corruption," Buttar. Buttar and seven other challengers will face off on the June 7 primary against the 81-year-old San Franciscan who has weathered seven presidential administrations during her tenure on Capitol Hill. "I walked away from a pretty cushy job in a well-funded nonprofit in order to fight the steepest climb in <keyword id="11893346" type="UNKNOWN" weightage="100" keywordseo="politics" source="Orion">politics</keyword> because I'm not willing to just do the easy thing," said Buttar, who previously worked at the Electronic Frontier Foundation.<div type="image" title="House Speaker Nancy Pelosi at her weekly news conference at the Capitol on December 15, 2021." height="1000" width="2087" msid="89438039" hostid="261"></div><h2> Third time's the charm?</h2>Buttar's run against Pelosi is as uphill a battle as it was the previous two times. He lost by more than a 3-to-1 margin in the 2020 election, collecting just 22% of the vote to Pelosi's 78%. His campaign was rocked that year by allegations of sexual harassment and fostering a toxic workplace. Buttar has repeatedly denied the accusations and <a href="https://www.prweb.com/releases/shahid_buttar_files_defamation_lawsuit_against_the_san_francisco_chronicle/prweb18084009.htm">sued</a> the San Francisco Chronicle about the sexual harassment coverage last summer. The constitutional lawyer-turned political activist didn't make it past the primary in 2018, coming in third behind Republican contender Lisa Remmer. Pelosi beat Remmer by a 7-to-1 margin that fall. Buttar said he's returning to the ring to fight for <a href="https://twitter.com/ShahidForChange/status/1488907709516697600">what he believes in</a>; codifying access to health care, housing, and food as basic human rights. He said he hosted a rally outside Pelosi's district office in San Francisco on December 30, 2021, to highlight the conflicts of interest that have emerged throughout her career — dating back to <a href="https://www.cbsnews.com/news/congress-trading-stock-on-inside-information/">questions about the money she made</a> on credit company Visa's IPO while the House was considering legislation to cut card-swipe fees. "This is an issue I've been beating the drum about for years," Buttar said, adding that <a href="https://twitter.com/ShahidForChange/status/1484587443613405185">his stance</a> on cutting off Congress from trading stocks isn't just the outrage du jour. "It's existential to our campaign." The <keyword id="12169748" type="UNKNOWN" weightage="60" keywordseo="stock-act" source="Orion">STOCK Act</keyword> clearly isn't working, Buttar said. So he's all for cracking down on everyone involved. "Mere disclosure is in no way sufficient. And no one should pretend that it is," he said of current law. To be truly effective, Buttar added, any new stock trading ban must include elected officials, congressional staff, and respective <a href="https://twitter.com/ShahidForChange/status/1488695964537786368">family members</a> of both. He'd even go one step further — calling for a blanket prohibition on stock call options. Call options are <a href="https://www.businessinsider.com/call-option">specialty financial deals</a> that enable traders, who must pay a per-share premium, to buy specific stocks for a set price at a future date. "It's the kind of thing that hedge fund managers use," Buttar said of the highly speculative investments. And he said he can't square why the "Speaker of the House approaches the markets like a hedge fund manager instead of a guardian of the public interest." An <a href="https://www.businessinsider.com/wealthiest-members-congress-house-senate-finances-2021-12#14-rep-nancy-pelosi-a-democrat-from-california-46123051-12">Insider analysis</a> of publicly available financial records for 2020 shows that Pelosi is worth approximately $46 million. The filings also show that Pelosi does not personally trade stocks. Her investment manager husband Paul Pelosi, on the other hand, trades all the time — buying up to <a href="https://markets.businessinsider.com/news/stocks/nancy-pelosi-husband-buys-stocks-call-options-salesforce-alphabet-roblox-2022-1">$3.5 million worth of call options</a> in December 2021 alone. Hammill, Pelosi's spokesman, <a href="https://www.businessinsider.com/we-are-free-market-economy-pelosi-rejects-stock-ban-congress-2021-12">previously told</a> Insider that the speaker "has no prior knowledge or subsequent involvement in" her husband's investment moves. It all sounds crooked, according to Buttar, who said mixing privately held stocks with public policymaking is a proven recipe for disaster. "It's a conflict of interest that invites corporate influence into their substantive decision making," he said of the status quo, casting the <a href="https://www.businessinsider.com/congress-democrats-with-fossil-fuel-stocks-investments-2021-12">fossil fuels distributors</a>, <a href="https://www.businessinsider.com/lawmakers-bought-sold-covid-19-related-stocks-during-pandemic-2021-12">drug makers</a>, and <a href="https://www.businessinsider.com/congress-members-are-trading-defense-stocks-while-shaping-military-policy-2021-12">defense contractors</a> packed into lawmakers' financial portfolios as powerful puppeteers. "Members of Congress are more committed to those industries than their constituents precisely because they make money off it," Buttar said. "It is that simple."Buttar said he'd be fine with abiding by stricter congressional stock trading rules — whether by requiring all members to hand over control of their finances to a <a href="https://www.businessinsider.com/meet-the-members-of-congress-who-dont-buy-and-sell-stocks-2021-12">qualified blind trust</a>, or limiting investments to diversified holdings like exchange-traded funds — because he's got no portfolio to speak of. "My net worth is negative. I still owe student debt from my time at Stanford," he said. Buttar added that running against Pelosi three times has forced him to prematurely dip into his tax-favored retirement accounts to stay afloat. "I think I would be the poorest member of Congress to join the body — if I win," he said.

Nancy Pelosi's primary challenger is taking her to task for embracing congressional stock trading as he tries to unseat the 18-term Democrat

<keyword id="6358777" type="LOCATION" weightage="20" keywordseo="New-Delhi">New Delhi</keyword>, <keyword id="1588424" type="POSITION" weightage="20" keywordseo="Farmer-leaders">Farmer leaders</keyword> are expected to meet on Tuesday to discuss a plan of action as thousands gathered at protest sites on Delhi's borders with Haryana and Uttar Pradesh to press for the repeal of the <keyword id="10352079" type="UNKNOWN" weightage="20" keywordseo="new-agri-laws">new agri laws</keyword> brace the cold wave sweeping through the national capital. Efforts are underway by the unions to draw <keyword id="6367209" type="UNKNOWN" weightage="20" keywordseo="support">support</keyword> from farmers in other states like Bihar for their demand to enact a law assuring <keyword id="76332" type="COMPANY" weightage="20" keywordseo="Minimum-Support-Price">Minimum Support Price</keyword> as the protest at the border points have been going on for almost four weeks now. On Monday, the farmers held a relay hunger strike at various protest sites in batches of 11. In the letter to 40 union leaders, the Joint Secretary in <keyword id="9313637" type="COMPANY" weightage="20" keywordseo="the-union-agriculture-ministry">the Union Agriculture Ministry</keyword>, Vivek Aggarwal, on Sunday asked them to specify their concerns over its earlier proposal of amendments in the laws and choose a convenient date for the next round of talks so that the ongoing agitation could end at the earliest. The sixth round of talks on December 9 was cancelled following a deadlock with the farmer unions refusing to budge from their demand for repealing the three laws. Owing to ongoing agitation, the Delhi Traffic Police said the Singhu, Auchandi, Piau Maniyari, and Mangesh borders are closed. It advised commuters to take alternative routes through the Lampur, Safiabad Saboli and Singhu school toll tax borders. Police said that as traffic has been diverted from Mukarba and the GTK road, people are suggested to avoid Outer Ring Road, the GTK road and National Highway (NH) 44. Those travelling to Haryana can go through the Jharoda (only single carriageway), Daurala, Kapashera, Badusarai, Rajokri NH-8, Bijwasan-Bajghera, Palam Vihar and Dundahera borders. According to the traffic police, Tikri and Dhansa borders are also closed for traffic but the Jhatikara border was open only for two-wheelers and pedestrians. At the Chilla border, the Delhi to Noida carriageway is open for traffic. The Noida to Delhi carriageway is, however, closed. The Ghazipur border was also closed for traffic movement. Enacted in September, the three farm laws have been projected by the central government as major reforms in the agriculture sector that will remove the middlemen and allow farmers to sell anywhere in the country. However, the protesting farmers have expressed apprehension that the new laws would pave the way for eliminating the safety cushion of Minimum Support Price and do away with the mandi system, leaving them at the mercy of big corporates. The government has repeatedly asserted that the MSP and mandi systems will stay and has accused the opposition of misleading the farmers. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-spicejet-interglobe-aviation-tata-motors-pfizer-asian-paints-niit-lupin-and-others/articleshow/79849749.cms">Top stocks to watch – SpiceJet, InterGlobe Aviation, Tata Motors, Pfizer, Asian Paints, NIIT, Lupin, and others</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-mrs-bectors-food-specialities-ipo-allotment-status-online/articleshow/79808672.cms?upcache=2">Mrs Bectors Food Specialities IPO allotment today: Here’s how to check share allotment status</a> <a href="https://www.businessinsider.in/business/startups/news/google-microsoft-invest-in-dailyhunt-for-its-short-video-platform-josh-making-it-the-latest-unicorn-in-india/articleshow/79850804.cms">Google, Microsoft invest in DailyHunt for its short video platform Josh – making it the latest unicorn in India</a>

Farmer union leaders to meet today to decide on further discussions with government

<ul><li><keyword id="46718" type="General" weightage="20" keywordseo="iday" source="Orion">iDay</keyword> is dubbed as India's Largest &amp; most Definitive Startup Event for Tech Entrepreneurs featuring Global Icons, Unicorn Founders &amp; Leading Investors</li><li>Focuses on Tech trends including Fintech, Crypto SaaS for SMEs, Gig Economy, Capital Markets, Healthcare, Hybrid education &amp; More</li><li>Spread across 2 Days | 100+Speakers |50+ Sessions | Unicorn Roundtables, Workshops, Masterclasses &amp; Engaging Sessions</li></ul>With a huge number of companies witnessing accelerated scale, despite uncertain times, <keyword id="502904" type="General" weightage="20" keywordseo="tie-delhi-ncr" source="Orion">TiE Delhi-NCR</keyword> is organising the 10th edition of <keyword id="4390638" type="General" weightage="20" keywordseo="India-internet-day" source="Orion">India Internet Day</keyword> (iDay) in virtual format, with the theme ‘Digital India: Escape Velocity. With a Focus on Tech trends including Fintech, Crypto SaaS for SMEs, Gig Economy, Capital markets, Healthcare, Hybrid education &amp; more, it will span over 2 days 23rd &amp; 24th September. The conference plays host to in-depth sessions &amp; keynotes by leading founders &amp; investors from India and around the World. Speaking about the event, Karan Mohla, Co- Chair for iDay 2021 &amp; Partner, Chiratae Ventures said – “As India leapfrogs to being a tech enabled economy, India Internet Day 2021 rings in with the theme - Digital India: Escape Velocity. The year 2021 has been a defining one for the Indian startup ecosystem in more ways than one — record amount of fund inflow, creation of new unicorns, companies going public, and a new benchmark in terms of mergers &amp; acquisitions. This reflects the strength of the Indian start-ups. Through iDay this year we are putting a spotlight on the learning, insights &amp; trends which have in last 18 months, seem to have lent ESCAPE VELOCITY to the entire startup ecosystem.” Business Insider is the media partner for TiE's ‘Digital India: Escape Velocity' event. The Stellar line up at the event includes Global Speakers, Leading Entrepreneurs, Investors, Influencers, Startups, Tech Innovators likeRuchir Sharma, Morgan Stanley | Monish Darda, Icertis | Surojit Chatterjee, Coinbase | Jeff Maggioncalda, Coursera |John T Chambers, JC2 Ventures |Kanwaljit Singh, Fireside Ventures |Balaji S. Srinivasan, Angel Investor &amp; Entrepreneur, | Byju Raveendran, Founder &amp; CEO- Byju’s |Kunal Bahl, Co-founder &amp; CEO – Snapdeal|Kushal Bhagia, CEO – firstcheque | Rajan Anandan, Sequoia India &amp; Surge | Kumara Raghavan, Amazon Internet Services |Bikram Singh Bedi, Google Cloud | Lathika Pai, Microsoft |Vani Kola, Managing Director – Kalaari Capital | Supria Dhanda, Western Digital. “India Internet Day is curated &amp; led by a team of serial entrepreneurs &amp; investors. It has become a leading platform to catch the makers and leaders of the India Internet Growth story. Over the years, tech entrepreneurs have hugely gained from the conference. This year we put a spotlight on how technology &amp; resilience have shown the way through the worst crisis of our times. 40% of Indian unicorns have been added in 2021 &amp; this augurs well for the startup ecosystem. With engaging conversations at #iDay in form of Keynotes, Fireside Chats, AMAs. Masterclasses, Panel Discussions, Unicorn Roundtables, we wish to continue to foster entrepreneurship.” said Geetika Dayal, Executive Director, TiE Delhi-NCR The Conference was supported by Startup India, Google, Western Digital, Sequoia Capital, Morgan Stanley, Coinbase, Microsoft, AWS, Icertis, Kalaari and Avendus. About TiE Delhi-NCR’s India Internet Day From its inception #iDay has set out to be a leadership conference that looks to set conversations around vision 2025 for the industry. After a resounding debut in 2012, it has grown from being relevant to being indispensable for stakeholders across the ecosystem. #iDay hosts the entire gamut of internet mobile industry in India like no other forum. India Internet Day 2020 Co-Chairs – Lathika Pai &amp; Mohit Bhatnagar along with the team Abhishek Gupta, Alok Mittal, Arvind Jha, Deep Kalra, Dev Khare, Gautam Gandhi, Karan Mohla, Latika Pai, Miten Sampat, Prasanto K Roy, Rajan Anandan, Rajat Garg, Rajesh Sawhney, Ravi Gururaj and Vani Kola are the torchbearers who put together the conference that has emerged as the only voice of India’s internet industry. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/airtel-rights-issue-details-record-date-issue-price-and-more/articleshow/86446419.cms">Airtel rights issue worth ₹21,000 crore opens next month – record date, price, ratio and everything else you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/freshworks-ipo-500-crorepatis-12-billion-market-cap-and-more-that-emerged-from-indias-first-saas-listing-at-nasdaq/articleshow/86445614.cms">Freshworks IPO — 500 crorepatis, $12 billion market cap and more that emerged from India’s first SaaS listing at Nasdaq</a> <a href="https://www.businessinsider.in/business/corporates/news/zee-sony-merger-heres-what-sony-is-really-getting-from-zee-entertainment/articleshow/86420990.cms">Zee-Sony merger: Here’s what Sony is really getting from Zee Entertainment</a>

TiE Delhi-NCR kickstarts the 10th Edition of India Internet Day themed Digital India: Escape Velocity

<ul class="summary-list"><li>Some CEOs and founders use "biohacks" to boost workplace productivity and their overall health.</li><li>These range from enzyme injections to $300 sleep rings.</li><li>Many biohacks are based on limited scientific evidence. </li></ul>Iterable CEO Justin Zhu was recently fired for "micro-dosing" LSD, a psychedelic drug, to improve his focus, he <a href="https://www.bloomberg.com/news/articles/2021-04-27/iterable-startup-ceo-says-he-was-ousted-for-taking-lsd-at-work?sref=lAVQtUwz">told Bloomberg last week</a>. Micro-dosing, or taking small amounts of psychedelic substances, has <a href="https://www.businessinsider.com/microdosing-psychedelics-entrepreneurs-founders-new-business-ideas-2020-7">gained popularity</a> in recent years among entrepreneurs as a way to boost their creativity.Plenty of other CEOs and founders who want to improve productivity and prevent burn out turn to so-called "biohacks," a broad term that encompasses everything from enzyme injections to fasting days.Here are seven biohacks executives have used, along with the <keyword id="41551" type="ENTERTAINMENT" weightage="100" keywordseo="science">science</keyword> - or lack of it - that backs them up.<h2>Injecting NAD+ coenzymes to boost energy</h2><div type="image" title="NAD+ injections" height="3000" width="4500" msid="82485221" hostid="261"></div>Winston Ibrahim, CEO of water filtration start-up Hydros, told Insider he has a "regenerative medicine specialist" inject him with NAD+ (nicotinamide adenine dinucleotide) to <a href="https://minutes.co/biohacking-as-a-ceo-5-things-i-have-done-to-optimize-myself/">boost his energy and prevent burnout</a>. NAD+ is involved in all fundamental biological processes, including DNA repair and energy conversion in our cells.Some overworked professionals swear by NAD+ "<a href="https://www.vice.com/en/article/bn3vmq/nad-plus-brain-reboot-infusion-injection">brain reboot</a>" injections, citing higher levels of energy, focus and a faster metabolism.Ibrahim said the injections mimic the effect of prescription stimulants, but without the side effects of taking them in pill form. "You are literally giving your body and brain the optimum, most bio-available fuel to power peak energy and performance," he told Insider. Some private clinics offer a single NAD+ injection for <a href="https://hangoveriv.com/nad-iv-therapy/">$400</a>.<div type="image" title="Winston Ibrahim" height="402" width="536" msid="82485222" hostid="261"></div><h3>What does the science say? </h3>The molecule helps regulate our sleep cycle, and low levels are associated with a higher risk of Alzheimer's and Type 2 diabetes, <a href="https://www.washingtonpost.com/lifestyle/wellness/do-nad-boosting-supplements-fight-aging-not-according-to-current-research/2019/11/26/ffc95704-07c4-11ea-818c-fcc65139e8c2_story.html">The Washington Post reported</a><a href="https://www.washingtonpost.com/lifestyle/wellness/do-nad-boosting-supplements-fight-aging-not-according-to-current-research/2019/11/26/ffc95704-07c4-11ea-818c-fcc65139e8c2_story.html"></a>. NAD+ naturally declines as we age, so it's not clear if low levels are the cause of age-related health conditions.Other claims for NAD+'s health benefits, including that it can slow aging, are less strong. Studies in mice have shown elevated levels of NAD+ lead to small increases in lifespan, but the results can't easily be applied to humans. Simply raising the amount of NAD+ in human blood cells does <a href="https://www.washingtonpost.com/lifestyle/wellness/do-nad-boosting-supplements-fight-aging-not-according-to-current-research/2019/11/26/ffc95704-07c4-11ea-818c-fcc65139e8c2_story.html">not necessarily mean</a> it can confer health benefits, or slow down the aging process. <h2>Wearing electrodes at night to artificially generate deep sleep</h2><div type="image" title="Dave Asprey" height="2226" width="3500" msid="82485223" hostid="261"></div>Thriving on minimal sleep is the holy grail for many high-powered executives. <keyword id="2697433" type="PERSON" weightage="60" keywordseo="dave-asprey">Dave Asprey</keyword>, founder of Bulletproof, a food startup famous for its butter-infused coffee, says he has spent <a href="https://www.menshealth.com/health/a25902826/bulletproof-dave-asprey-biohacking/">$1 million trying to live to 180-years-old</a>, including <a href="https://www.menshealth.com/health/a23497573/silicon-valley-sleep-biohackers/">$200,000</a> on <keyword id="2004065" type="PERSON" weightage="60" keywordseo="biohacking">biohacking</keyword> his sleep. For Asprey, quality of sleep is more important than quantity. "Wouldn't it be cool if getting healthy got you more hours every day?," Asprey told <a href="https://www.menshealth.com/health/a23497573/silicon-valley-sleep-biohackers/">Men's Health</a>. "That's the mindset that I've had. Because we don't all want to sleep."Asprey has tried transcranial electrical stimulation (TES), where electrodes attached behind the ears pulse small electrical currents through the brain. It's supposed to induce "delta sleep," the deepest phase of sleep. Delta brain waves are associated with <a href="https://www.sciencedirect.com/topics/neuroscience/delta-wave">restorative sleep</a> vital for the body's immune system. <h3>What does the science say? </h3>Evidence on the <a href="https://www.healthline.com/nutrition/10-reasons-why-good-sleep-is-important#6.-Sleep-affects-glucose-metabolism-and-type-2-diabetes-risk">benefits of sleep</a> is well established. Getting enough sleep lowers a person's risk of heart disease and diabetes, and helps fight infection. But whether TES can generate deep sleep is debatable.Some studies into TES show <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5662600/">limited impact</a> on brain activity during sleep, while <a href="https://www.sciencedirect.com/science/article/pii/S1389945721001623">others</a> have shown the therapy can extend the amount of time someone is in deep sleep. In a <a href="https://www.sciencedirect.com/science/article/pii/S1389945721001623">study this year</a>, participants receiving electrical stimulation stayed in deep sleep slightly longer than a placebo group. "We're excited by these results, and we're moving to try to develop practical sleep therapy," Dr. Don Tucker, neuroscience professor at the University of Oregon and the study's co-author, told <a href="https://academictimes.com/stimulating-the-brain-to-extend-deep-sleep-could-reduce-dementia-risk/">The Academic Times</a>. "And this paper shows that it should be feasible."<h2>Creating small, 'positive' moments of stress </h2><div type="image" title="Shower" height="2912" width="3882" msid="82485225" hostid="261"></div>When a person's stress-response system is activated, their adrenal glands release adrenaline and cortisol, increasing <a href="https://www.mayoclinic.org/healthy-lifestyle/stress-management/in-depth/stress/art-20046037">heart rate, blood pressure, and blood sugar</a>. Over prolonged periods, elevated levels of these hormones can increase a person's risk of heart disease and digestive problems. Some execs deliberately expose themselves to short bursts of stress to cope with their high-pressured jobs. Bayard Winthrop, CEO and founder of men's clothing American Giant, has said he takes cold showers as way to introduce a small challenge into his mornings. "There's this undeniable endorphin rush, a good natural energy boost," Winthrop <a href="https://www.inc.com/magazine/201805/kevin-j-ryan/bayard-winthrop-american-giant-daily-routine.html">told Inc</a>. in 2018. "And I like the idea of starting the day by doing something challenging."<h3>What does the science say? </h3>Neuroscientist Dr. Tara Swart, senior lecturer at MIT Sloan School of Management, argues that short intervals of stress can build resilience. "Chronic stress is never good for you, even at low levels," Swart said to <a href="https://www.standard.co.uk/escapist/positive-stress-practices-harness-anxiety-b925481.html">Evening Standard</a>. "But times of challenge like giving a talk or doing a sporting event, asking someone on a date, helping a friend go through a really tough time, for example, can elicit the acute stress response which is not fright/fight/flight but involves you rising to meet the challenge and fully recovering your resilience afterwards - things like this make us more resilient over time."Taking ice baths or cold showers have been associated with several health benefits, including improving circulation. Exposing parts of the body to a burst of cold water stimulates the supply of newly oxygenated blood to that area. Many athletes use ice baths for recovery.However, Dr. Joon Yun, a physician and president of hedge fund Palo Alto Investors, and advocate of low-intensity stress to improve health, <a href="https://www.cnbc.com/2018/03/01/tech-elites-embracing-positive-stress-cold-showers-extreme-diets.html">told CNBC</a> that exposure to extreme temperatures is risky for some people. <h2>Drinking bone broth, a slow-cooked form of stock, for breakfast </h2><div type="image" title="Bone broth" height="2657" width="3543" msid="82485226" hostid="261"></div>Nancy Fechnay, partner at Flight Ventures, says she drinks homemade bone broth for breakfast, or nothing at all. "My approach is a tailored version of intermittent fasting," Fechnay <a href="https://www.forbes.com/sites/kittyknowles/2018/01/19/health-trends-2018-wellness-what-to-eat-for-breakfast-business-productivity/?sh=350de4154a90">told Forbes</a>. "This is the rave in the Bay Area, backed by studies showing the benefits to the mind and body."Fechnay said bone broth - a protein-rich liquid made by boiling animal bones and connective tissue - helps the immune system, maintains healthy skin and hair, and elevates collagen levels to fight aging. "Bone broth is the most nutrient rich liquid you can drink," Fechnay said. <h3>What does the science say? </h3>There is a lot of evidence that bone broth, which is packed with <a href="https://www.healthline.com/nutrition/bone-broth#vitamins-and-minerals">vitamins and minerals</a>, is healthy.Animal bones contain calcium, magnesium, and other minerals important for bone health, while bone marrow provides vitamins A, K2 and immune-boosting mineral selenium. However, it is easy to overstate bone broth's benefits. For example, there is no evidence to suggest it gives you better skin or fights aging, Harvard Medical School <a href="https://www.health.harvard.edu/healthy-eating/whats-the-scoop-on-bone-soup">found after a review in 2015</a>.Bone broth may have <a href="https://www.health.com/food/bone-broth-benefits">surged in popularity in recent years</a>, but it is not new: It has been a staple of different <a href="https://www.theguardian.com/lifeandstyle/wordofmouth/2015/feb/09/bone-broth-the-trend-everyones-raging-about">cultures' diets for centuries</a>.Bone broth is very similar to stock, except the bones are left to simmer for much longer.<h2>Going for days without food to improve concentration</h2><div type="image" title="Jack Dorsey" height="2485" width="3324" msid="82485227" hostid="261"></div>Intermittent fasting (IF) involves going hours or even days with little to no food. In 2019, Twitter CEO <keyword id="265395" type="PERSON" weightage="60" keywordseo="Jack-Dorsey">Jack Dorsey</keyword> told <a href="https://bengreenfieldfitness.com/transcripts/transcript-time-saving-workouts/">fitness writer Ben Greenfield</a> that he ate just one meal a day, and fasted for the whole weekend. For weekday dinners, he usually ate a protein - fish, chicken or steak - with vegetables, and a pudding of mixed berries and dark chocolate, he told Greenfield on his podcast. Dorsey said this routine improved his focus and helped him sleep better. "It really has increased my appreciation for food and taste because I'm deprived of it for so long during the day," Dorsey told Greenfield. Other tech execs swear by it, too. Dan Zigmond, director of special projects at Apple, previously told Insider that he <a href="https://www.businessinsider.com/dan-zigmond-facebook-fasting-2016-8">fasts for 15 hours a day</a>, and Evernote co-founder Phil Libin doesn't eat for between <a href="https://www.businessinsider.com/phil-libin-fasting-routine-2017-10">two to eight days in a row</a>. <h3>What does the science say? </h3>Popular IF patterns include the 5:2 plan, which involves eating normally for five days and then dramatically cutting calorie intake for two, and the 16:8 regime, where people fast for 16 hours and only eat within an eight-hour window. Several studies in both humans and animals have shown that IF can result in <a href="https://www.nia.nih.gov/news/research-intermittent-fasting-shows-health-benefits">health benefits</a> for those with obesity and diabetes. Still, more research is needed to determine whether IF is healthy, or even feasible, if people do it for a long time.Some nutrition experts say Dorsey's version of the diet is extreme and more closely resembles an eating disorder, and that any feelings of mental alertness associated with extreme IF are because the body is in survival mode. "When people undercut their need for food with radical under-eating, the body doesn't care about the reasoning. It is just going react to save your life," <a href="http://www.iaedp.com/jennifer-gaudiani/">Dr. Jennifer Gaudiani</a>, a doctor who specializes in eating disorders, previously <a href="https://www.businessinsider.com/jack-dorsey-intermittent-fasting-diet-risks-2019-4">told Insider</a>. Gaudiani said that animals in starvation "should feel concerned and focused. They may interpret that initially as productive, but it's the brain saying, 'I don't have enough food.'" <h2>Wearing a $299 ring that tells you how to improve sleep</h2><div type="image" title="Prince Harry Oura Scott Barbour:Getty Images" height="2636" width="4000" msid="82485229" hostid="261"></div>The <a href="https://ouraring.com/">Oura ring</a> tracks a person's sleep, collecting data on heart rate and body temperature. It then tells you how to sleep better. The <a href="https://ouraring.com/product/heritage-silver/step1">$299</a> ring also works during the day, monitoring activity levels. Prince Harry, who recently <a href="https://www.businessinsider.com/betterup-tech-startup-where-prince-harry-works-2021-4">took a Silicon-Valley job</a>, has even been spotted wearing the band. Jack Dorsey <a href="https://www.businessinsider.com/oura-ring-kickstarter-silicon-valley-nba-bubble-2020-12">helped finance the start-up</a> and shared his <a href="https://twitter.com/jack/status/1071575424931512320">Oura dashboard </a>with his Twitter followers in 2018. Jay Livingston, CMO of Shake Shack, and Jeremy Liew, partner at Lightspeed Venture Partners, both <a href="https://www.businessinsider.com/oura-ring-tech-execs-investors-changed-routines-track-sleep-better-2020-12#jeremy-liew-partner-at-lightspeed-venture-partners-5">previously told Insider</a> they wear the ring. "It's been meaningfully improving my deep sleep and REM, and making me feel more rested each morning," Liew <a href="https://www.businessinsider.com/oura-ring-tech-execs-investors-changed-routines-track-sleep-better-2020-12#jeremy-liew-partner-at-lightspeed-venture-partners-5">told Insider</a>. <h3>What does the science say? </h3><a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6095823/">Some research</a> has shown the Oura ring can detect when the body is in different phases of sleep. <a href="https://ouraring.com/blog/tempredict_covid19_research/">Other studies</a> have suggested the device can give early warning signs for illness. And one study by the <a href="https://wvumedicine.org/news/article/wvu-rockefeller-neuroscience-institute-announces-capability-to-predict-covid-19-related-symptoms-up-/">Rockefeller Neuroscience Institute</a> last year found the gadget to be accurate in early detection of COVID-19.The NBA announced last June that all players in Orlando would be offered an Oura Ring to help them identify <a href="https://www.si.com/nba/2020/07/01/oura-ring-nba-restart-orlando-coronavirus">asymptomatic cases of the disease</a>. Oura's role in helping contain the pandemic helped it win Time's coveted "<a href="https://time.com/collection/best-inventions-2020/5911381/oura-ring/">Best Invention of 2020</a>" title. <h2>Sleeping with your curtains wide open</h2><div type="image" title="Whitney Wolfe Herd" height="2658" width="3987" msid="82485230" hostid="261"></div><keyword id="6934455" type="UNKNOWN" weightage="60" keywordseo="Whitney-Wolfe-Herd">Whitney Wolfe Herd</keyword>, CEO and founder of dating app Bumble, sleeps with her curtains open to let the morning sunlight wake her up, she said in an interview with <a href="https://www.entrepreneur.com/article/295185">Entrepreneur</a>. "I think that's a healthy thing to do because even if you don't like to wake up early, your body does adjust," Herd said. In February, Herd became the world's youngest self-made female billionaire when she took her company public. Bumble raised <a href="https://markets.businessinsider.com/news/stocks/bumble-stock-price-ipo-market-debut-dating-app-offering-bmbl-2021-2-1030074160">$2.2 billion in its IPO</a>.<h3>What does the science say? </h3>Exposure to natural light in the mornings is a good way to tell your body it's time to get up.Light-sensitive receptors in the eyes signal to the <a href="https://pubmed.ncbi.nlm.nih.gov/10548871/">suprachiasmatic nucleus</a> - the part of the brain regulating the sleep-wake cycle - to wake the body up. Melatonin, the hormone responsible for sleep, also decreases with sunlight exposure."Opening your eyes to a burst of bright sunlight can pull you out of your sleep grogginess before your alarm alerts you it's time to start your day," Dr Kasey Nichols, an expert in sleep disorders, told <a href="https://www.bustle.com/p/waking-up-to-sunlight-does-this-to-your-brain-19448915">Bustle</a>. Many people choose to sleep with a <a href="https://www.businessinsider.com/best-wake-up-light-alarm-clock">sunrise alarm clock</a> that mimics natural light.

7 'biohacks' founders and execs have used to try to boost their energy at work, from wearing electrodes while they sleep to drinking bone-broth breakfasts

Today, "<keyword id="12151275" type="UNKNOWN" weightage="60" keywordseo="men-in-black" source="Orion">Men in Black</keyword>" is considered a landmark action-comedy that cemented Will Smith as a global-box-office draw and showcased how computer graphics would elevate Hollywood blockbusters for decades to come.But 25 years ago, the movie was hardly a sure thing. Based on a little-known comic-book series from Marvel, Sony had no idea what it had its hands on when it began developing the project about a pair of agents (Tommy Lee Jones and Smith) from a secret organization that watches over aliens living on Earth. There were also a few hiccups at the start: the two leads were neither of the producers' first picks, and director Barry Sonnenfeld had left the project twice before shooting began.But by the time the movie was in the can, things were looking promising. Steven Spielberg came on as an executive producer and Smith had become a huge star thanks to "Independence Day," which became a gigantic hit right around the time "Men in Black" wrapped production.The movie ended up becoming a box-office sensation, and even still gets regular play on cable networks like TNT. From Jones and Smith's funny banter to the alien characters created by creature-effects legend Rick Baker (who won the best makeup Oscar for his efforts), the movie, which spawned two sequels also directed by Sonnenfeld, remains an extremely enjoyable watch all these years later.For the movie's 25th anniversary, Insider spoke to Sonnenfeld over the phone from his home in British Columbia.The director recalled never-before-told insights like the famous line that Smith came up with on the spot, what he had to do to get a Michael Jackson cameo in the sequel, and why he thinks the franchise reboot attempt with 2019's "Men in Black: International" starring Tessa Thompson and Chris Hemsworth didn't work.<div type="image" title="Will Smith in a black suit and black sun glasses" height="4197" width="2782" msid="92600526" hostid="261"></div><h2>Sonnenfeld purposely undersold Chris O'Donnell on the movie so he could cast Will Smith instead</h2>Previous to making 1995's "Get Shorty," you were developing "Men in Black" but couldn't see eye-to-eye with producers Walter F. Parkes and Laurie MacDonald. So you left the film. What led to you finally signing back on to direct?I was developing "Men in Black" for a very long time and finally, after six years of trying, I was able to get "Get Shorty" made so I left "Men in Black" to do "Get Shorty." But I had heard they hadn't gotten a director they were sticking with.I was in L.A. having breakfast with my wife at The Ivy and at the next table was Barry Josephson, who was head of production at Sony at that time. I said, "Listen, if you're willing to wait until I'm done with 'Get Shorty' I would love to come back on 'Men in Black.'"So it was kind of kismet that I ran into Josephson. Otherwise, it's possible I never would have gotten involved again. Legend has it that the producers wanted Clint Eastwood and Chris O'Donnell to play the leads. When you returned to "Men in Black," was that still the case?When we started up again, those were the two names in the mix. I had suggested Tommy Lee Jones and Will Smith. Will was actually my wife's idea. They went out to Tommy Lee Jones and he said he would consider it if there was a rewrite of the script.Then during that rewrite, Tommy got director approval so because of that I was off the movie again. This was for about four or five months. The irony is that Tommy was my idea to be in the movie in the first place. So how did you get back on the film?I had a meal with Tommy in Santa Monica about five months later after he said the latest rewrite was good enough for him to sign on. I had dinner with him and it worked out. <div type="image" title="Chris O'Donnell in a tuxedo" height="3000" width="1954" msid="92600528" hostid="261"></div>Then it was Walter, Laurie, and Spielberg who felt Chris O'Donnell would be good. I think he's a good actor, but I had really been thinking about Will since my wife made the suggestion.I met with Chris and he had concerns about the script and had another movie offer. So I told him, "Yeah, we might never fix this script and I don't think I know how to direct this movie." So he passed on the movie the next day. I used to live in the Hamptons and Steven Spielberg used to summer there so I was able to arrange for Will to come up from Philly — he was at a wedding — to come and meet Steven and myself and Walter and Laurie. And that's how Will got the part. Is it true David Schwimmer was in the running for the J role at one time?Um, yes, that rings a bell. But I always thought about Will for the role. So let's be clear, you kind of undersold it big time to Chris O'Donnell. Well, you know what, you always want to underpromise and overdeliver.<div type="image" title="Will Smith holding a baby alien" height="1515" width="2310" msid="92600530" hostid="261"></div><h2>An early showing of the movie to friends and family was a disaster</h2>You started principal photography around March 1996. By that July, Will Smith is a global star due to "Independence Day." Did the success of that movie change at all how Will's J character evolved during shooting or just how you would use Will in the marketing of the movie?No, it didn't. I think "Independence Day" came out in the last two weeks of our principal photography and Will was already a bigger-than-life presence in the room so it was great that we didn't have to film through months of box-office records, it was just the opening weekend. Going into post-production, did you feel you were playing with house money because now you had hitmaker Will Smith?No, because you never know that. If you start thinking that way, it's bad news.In fact, we had a family and friends screening near the end of the editing where we didn't have the visual effects in and it was a disaster. People who were at the screening — my agent, my lawyer, Ethan Coen — after the movie was released and was a hit they all said, "We lied to you when we said it's going to be good after the friends-and-family showing. We didn't think it would be."And what about Will Smith doing <a href="https://www.youtube.com/watch?v=fiBLgEx6svA">the "Men in Black" song</a>? Did the idea come before "Independent Day" was released?That was in post-production when we asked Will to do the song. But truthfully, we would have done that regardless of how "Independent Day" did just because of his hip-hop career.And we did a big-budget music video for the song — that was really less about "Independence Day" and more because Sony had seen the movie and felt it was going to be a big hit. But it sure didn't hurt that "Independence Day" was such a big movie. <div type="image" title="Tommy Lee Jones in a black suit" height="4192" width="2774" msid="92600532" hostid="261"></div><h2>It took a long time for Tommy Lee Jones to accept being the straight man to Will Smith</h2>Was there a moment on set when you could tell Tommy and Will were clicking?It's funny, they really clicked both on- and off-camera. They really enjoyed each other. They both thought each other was funny. For me, personally, the very first time we shot with both of them together is that <a href="https://www.youtube.com/watch?v=1FkVXCCfg2A">pawn-shop scene with Jack Jeebs</a> (played by Tony Shalhoub) and they both were perfect.Will ad-libbed that last line of, "Yeah, I'm gonna come back about those Rolexes." Right away I knew they would work out well. Through doing the rewrites and going into shooting, was Tommy on board with being <a href="https://tvtropes.org/pmwiki/pmwiki.php/Main/StraightMan">the straight man</a> in essentially this comedy duo with Will?It took a long time for him to feel comfortable with it. I don't think he ever did. I don't think he understood that comedy. In fact, I really sat on his performance. I never wanted him to acknowledge anything Will said was funny or was a joke.I got a call from Tommy's agent about two weeks into the movie and he said, "I don't want Tommy to be funny, I only want Will to be funny." And I promised him that when Tommy sees this movie, Tommy will realize he's as funny as Will Smith is. Every comedy team needs a straight man.<div type="image" title="Vincent D'Onofrio dressed in overalls as &quot;Men in Black&quot; villain Bug" height="688" width="1264" msid="92600534" hostid="261"></div>But I would imagine the biggest wild card, in regards to characters, was the Edgar/Bug character that Vincent D'Onofrio plays. He could have gone so many different ways with that role. Is it true you didn't hear what voice he was going to do until the first day of shooting him?Yes. And I was 100% on board. The other thing he did that was fantastic is his voice changes over the course of his time on Earth because he becomes more and more bug-like. In fact, near the end of the movie when he comes into the morgue to find the cat and where he kills the character played by David Cross, he's almost impersonating John Huston from "Chinatown."He was great to work with and understood you can be funny without trying to be funny. I love that he's so annoyed because he's in this human suit, which was brilliantly conceived by Rick Baker. Is it true Linda Fiorentino got the role of Dr. Laurel Weaver because she played against you in a poker game?That's her legend. She claimed that she won the part in the poker game, but that's not true. Someone invited me to a poker game and Linda happened to be at my table. So when it came time to cast for that role, she was someone I immediately thought about because I had just played poker with her. <div type="image" title="Michael Jackson in &quot;Men in Black&quot; suit with penguins behind him" height="562" width="1000" msid="92600535" hostid="261"></div><h2>Michael Jackson refused to play an alien in "Men in Black II"</h2>A great moment in the movie is <a href="https://www.youtube.com/watch?v=XbxA9p_nCGc">the observation board scene</a> that shows all the aliens living among us on Earth: Al Roker, Sylvester Stallone, Steven Spielberg, George Lucas, Danny DeVito. Yeah. I wanted to have people up there that made you go, "Yeah, he could be an alien."Now in "Men in Black II" you show off the board in a different way, it's where you have <a href="https://www.youtube.com/watch?v=l_F4BkPGSRA">the Michael Jackson cameo</a>. How did you get him to do that?He approached us.Really? Did he just want to be in the movie?Well, I was going to make him an alien and he said, "No, I want to wear the 'Men in Black' suit." So we figured out how to do that and it worked out. He was lovely. <div type="image" title="Tommy Lee Jones and Will Smith standing across from Linda Fiorentino" height="1497" width="2297" msid="92600537" hostid="261"></div><h2>Initially, Sonnenfeld didn't like Danny Elfman's score and he had to go to the composer's 'scary' house to tell him</h2>The secret sauce to the whole franchise, but particularly this movie, is Danny Elfman's score. You know the movie is going to be a fun time just from the music. How did he come up with the score?I went to Marc Shaiman first because he had done my movies "The Addams Family" and "Addams Family Values," but he wasn't available. I went to Danny and he agreed to do it. I really admired Danny's work.Early on, we gave Danny some scenes to write music for, just so I could see if we were on the same page. And he had a place in Malibu that was so dark and so scary. I go into this bunker that he had on this Malibu property, it's pitch black outside, he's got skeletons, taxidermy. I'm pretty freaked out. And the initial stuff Danny played for me was totally wrong.I started to sweat because I was about to tell Danny Elfman, who I truly admire from the Tim Burton stuff, that he needed to go in a totally different direction tonally. I didn't know how he was going to take that. I basically told him that he was hitting the jokes and helping me with the comedy but I didn't want any help with the comedy. I wanted the audience to decide what was funny and what wasn't on their own. I didn't want an actor to wink at the camera or the music to do that. I told him where I needed help, was the music needed gravitas and emotion. And he totally got it.About a week later, I drove back to that horrible place of his again and what he played for me was fantastic. <div type="image" title="Tommy Lee Jones in black suit talking to aliens at coffee counter" height="1542" width="2348" msid="92600540" hostid="261"></div><h2>The aliens who talk to Tommy Lee Jones were pullets, not CGI</h2>The fascinating thing about watching the movie now is that, while you were making it, a major shift to CGI is happening in Hollywood. Yes, you have Rick Baker but "Jurassic Park" has been out for a few years and all the blockbusters are going heavy on CG. How did you balance the two on this movie?I was really lucky that I had Rick because not only did he design all the makeup but he designed all the aliens. And early on, he said, "Whenever you can don't use CGI, use puppets." Because puppeteers are members of SAG, meaning they are actors and will work off and ad-lib with the on-screen actors. A perfect example is <a href="https://youtu.be/WS93LMcRGRk?t=72">the aliens in the break room</a> where Tommy's character stops to get coffee. Those are all rod puppets. We shot it in a flat-to-the-wall way so the puppeteers are behind that wall. We didn't even have to digitally remove any rods.When Tommy says, "That's not decaf is it?" that was ad-libbed on the day in real-time. I told Tommy to say that. Then I told the puppeteer to answer in the alien voice: "Viennese Cinnamon."Now when we see those aliens again, they are walking away with all the duty-free stuff, that's a wide shot so the only way to do that was CGI. It's funny you bring up Tommy talking to the aliens because I remember when the movie came out, stories used that scene as an example of how amazing the CGI is in the movie.Yeah! They were puppets.<div type="image" title="Will Smith wearing sunglasses" height="728" width="1440" msid="92600541" hostid="261"></div><h2>Will Smith came up with the famous "I make this look good" line on the day of filming</h2>Will Smith's <a href="https://www.youtube.com/watch?v=6AKe70SX8OM">famous line in the movie</a> once he puts on the "Men in Black" suit for the first time: "You know what the difference is between you and me? I make this look good." Is there a story behind that line?Yes. That came on the day during rehearsals. Will was always ad-libbing funny stuff. Some I used and some I didn't. But with that shot, I pushed the camera on him low, that whole delivery, yeah, he came up with that on the day.Also, the line at the end when Will is looking at the mural of the World's Fair and he turns and says to Tommy and <a href="https://metro.co.uk/2019/07/10/old-actor-rip-torn-play-men-black-10146312/">Rip</a>, "Hey, old guys." That was also a Will ad-lib. <div type="image" title="men in black international trailer" height="1126" width="2208" msid="92600543" hostid="261"></div><h2>Sonnenfeld says he's never seen "Men in Black: International," though he's an executive producer on the movie</h2>The movie came out on July 2, 1997, and did amazing business, better than anyone expected. You have not made it a secret that making parts two and three were challenging. When it comes to this franchise, is it simply too many voices in the room — producers, talent, studio — trying to get their way?The issue is the first one came out and it was, at the time, the biggest box-office grosser in Sony's history. So it was a big deal.Then, the studio and the producers decided to hire a writer for "Men in Black II" and never consulted me about the story, anything. So by the time I got the script for the first time I was not only given a script that I didn't think was right tonally but also given a release date for the movie opening. Do you think they were fishing for another director in that time when they were developing the sequel and finally settled on you?I don't know. So you get through the third film. They attempt to reboot the franchise in 2019 with "Men in Black: International," which you were an executive producer on. Were you surprised it didn't do well?I had nothing to do with it. I just got a credit. By the end of the third movie, I knew that Will, Tommy, and I were done with the franchise. The thing that's funny is "Men in Black: International" is directed by F. Gary Gray who also directed "Be Cool," the sequel to "Get Shorty."Anyway, I think the "Men in Black" franchise, at least the first three, has a certain tone: this is all real and the comedy comes out of absurd reality. The laughs didn't come out of jokes or acknowledging that something you did or said is a joke. Also, you need two different kinds of performers. You really do need a straight man and a comedian. You need Jerry Lewis and Dean Martin. Now, I didn't see "Men in Black: International," but I've seen the trailer and I didn't think there was enough difference in attitude between the leads. Maybe I'm wrong, but I feel you don't want two funny people in your movie, ever. <div type="image" title="Will Smith in a white shirt standing next to Barry Sonnenfeld in a hat and dark shirt" height="1336" width="1781" msid="92600544" hostid="261"></div><h2>Sonnenfeld would do another "Men in Black" movie if Will Smith were attached</h2>Have you ever seen the <a href="https://www.syfy.com/syfy-wire/phil-lord-chris-miller-on-men-in-black-jump-street-crossover">"Men in Black/21 Jumpstreet" crossover script</a>?I've never seen a page of it. I think it seems like an expensive idea with a lot of high-priced producers let alone actors. If Will Smith ever called you and said, "I'm thinking of doing another one," would that sway you to direct another "Men in Black"?Sure. Has that conversation ever happened?Nope. This <keyword id="11905869" type="UNKNOWN" weightage="60" keywordseo="interview" source="Orion">interview</keyword> has been condensed and edited for clarity.

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