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In January, Jon Bach got laid off as a director at eBay, where he had worked for 13 years. He loved his job, so he was disappointed. But he didn't panic. The unemployment rate was near a five-decade low, and he had 30 years of experience in the tech industry. How hard could it be to find another job?Pretty hard, it turned out. After applying for 135 openings, Bach has received 91 nonresponses, 42 rejections, two callbacks — and zero offers. "I don't know what's going on," he says. "I've been doing this for a minute, and I've proven my value. And then you apply to one place, two places, 10 places, 50 places, 135 places. And you go, 'Am I the guy I think I am?'"By all the standard economic measures, America's labor market looks fine. But ask white-collar professionals who are actually looking for a job, and they'll tell you horror stories that are eerily similar to Bach's. As I wrote last spring, that's because the job market has essentially split into two distinct tiers. Even though hiring has held up well for lower-earning workers, it has plunged for people earning six figures or more. We're in the midst of a <a target="_blank" href="https://www.businessinsider.com/hiring-slump-professional-white-collar-jobs-recession-high-salary-2024-4">white-collar recession</a>.Now, new data from LinkedIn — which tracked how often its users landed new jobs — shows which white-collar jobs are being hit the hardest. Some of them are the usual suspects in a downturn. You don't need recruiters when you're not recruiting, so hiring in human resources has slumped by 28% since 2018. Hiring in marketing, another department that's often the first to lose its budget in leaner times, is down 23%.But the most surprising feature of the job freeze is the pullback in tech. Hiring has plunged 27% in IT, 32% in quality assurance, and 23% in product management. In Bach's field of program and project management, recruitment has slumped 25%. Even more surprisingly, engineering, which was long considered recession-proof, is down 26%. That kind of cutback in coders was long unthinkable in Silicon Valley, which treated programmers like rare minerals — so scarce that they needed to be preserved at all costs, regardless of how the economy was faring.On the flip side are the professions that are holding up well. Military and protective services, a category that includes security guards, is down only 6%. Community and social services is down by only 3%. And healthcare, which is battling an acute staffing shortage fueled by an aging population and extraordinary levels of burnout on the front lines, is actually up 10%. You can see the same winners and losers on hiring platforms like Indeed: Since the pandemic, job postings for physicians and physical therapists have surged more than 80%, while those for software developers, data analysts, data scientists, and IT operations have declined by 20% or more."We have not seen the hiring slowdown everywhere," says Kory Kantenga, an economist at LinkedIn. "But there are particular areas where it's been very dramatic."Why has tech slammed the brakes on hiring? One reason is that tech companies, panicked by the <a target="_blank" href="https://www.businessinsider.com/the-great-reshuffle-upward-mobility-quitting-jobs">Great Resignation</a> that followed the pandemic, hired way too many professionals — leaving them with a glut of staff when the economy hit the skids. LinkedIn, which compared recruitment in 2018 to 2022, found that post-pandemic hiring spiked 89% for product managers, 79% for HR professionals, and 43% for engineers. When employers realized that they'd gone overboard, some resorted to mass layoffs to slash their headcounts. But most have taken a gentler route, implementing hiring freezes to slowly shrink their ranks by voluntary attrition.Another reason tech companies are hiring fewer professionals is that their existing employees are opting to stay put. "One of the things we hear repeatedly is that candidates are looking for stability," says Jenny Diani, a senior director of global technical recruiting at Autodesk, a leading software provider. "Candidates are being much more careful." Visier, an HR software provider, reports that so far this year, voluntary turnover at its tech clients is under 20% — down from almost 27% in 2022. That means a company that wants to maintain a head count of 10,000 employees would need to hire 720 fewer professionals this year.AI may also be playing a role in the hiring freeze. With tools like ChatGPT enabling tech workers to complete tasks more quickly, employers may see less of a need to increase head count. Nowhere is this productivity gain more evident than in <a target="_blank" href="https://www.businessinsider.com/chatgpt-ai-technology-end-of-coding-software-developers-jobs-2023-4">coding</a>: In an early study of an AI coding copilot, AI-assisted programmers were 56% faster than programmers working alone. Google recently boasted that more than a quarter of its new code is now being <a target="_blank" href="https://www.businessinsider.com/google-earnings-q3-2024-new-code-created-by-ai-2024-10">generated by AI</a>."It's not like you're going to lay off a whole team," says Jon Stross, a cofounder of Greenhouse, one of the biggest providers of hiring software. "But maybe we don't have to grow quite as fast because we can automate more things and be more efficient. My guess is there are folks who are trying to make that happen."To make matters worse, changes in the way companies hire people are making the job freeze feel even more terrible than the numbers indicate. Several job seekers I spoke with told me their searches have been "slow" — which is putting it mildly. In mid-2021, according to Greenhouse, it took its clients an average of 52 days to make a hire. In the first quarter of this year, searches were dragging out to 66 days.The slowdown in decision-making is a bit of a paradox. Given all the qualified candidates on the market right now, you'd think companies would have an easier time making a selection. But weirdly, the seemingly infinite supply of candidates makes them want to review even more applications before they make a decision. "In the recruiting world, we call it See More Disease," says Diani, who is juggling three times as many job applications at Autodesk as she did during the Great Resignation. "We really need to coach our managers that even in this market, people with highly qualified, in-demand skills aren't going to be sitting around forever."<div type="image" title="Dashboard with various summary stats of job seeker's job search" height="757" width="1209" msid="115416165" hostid="261" sizebytes="43790"></div>What shocks job seekers the most, though, is how many roles they have to apply for just to get a few measly callbacks. The 135 applications that Bach submitted might seem crazy high, but these days it's actually the new norm. Santiago Rodriguez, a data scientist, told me he had applied to 669 positions — so many that he built an <a target="_blank" href="https://job-search-cd9a22.gitlab.io/">online dashboard</a> to track his progress. Like the diligent statistician he is, he plans to analyze the data to see which versions of his résumé are generating a higher success rate.It doesn't help that job candidates, desperate to land a new role, are responding to the hiring slowdown by applying to every job in sight. LinkedIn has an "Easy Apply" button that makes it easy to flood the market with applications, and AI-powered services will even <a target="_blank" href="https://www.businessinsider.com/job-applications-hiring-ai-bots-spam-resume-cover-letter-2024-3">mass-apply to jobs</a> for you. It makes sense for individual job seekers to maximize their chances by applying widely. But the more everyone piles on, the harder it gets for anyone to stand out. In the first quarter of this year, job openings at Greenhouse's clients received an average of 222 applications — almost three times as many as at the end of 2021. "It's exacerbated by everyone in this arms race applying to so many jobs that companies are just overwhelmed with applicants," says Stross. "And so they don't get back to people."For job seekers, being ghosted makes the process feel downright dehumanizing. "There's so much angst," says Stross. "Like: 'I need a job and I can't get anybody to look at my résumé.'"The good news is, some data suggests that we're already past the worst of the white-collar recession. At the end of last year, according to the industry group CompTIA, companies posted only 144,000 new tech roles. That has now rebounded to 223,000 openings — and is starting to approach the pre-pandemic level of 322,000 jobs. "We're slowly, slowly recovering," says Art Zeile, the CEO of Dice, a tech job board. The hope is that in the new year, with the election over and a couple more interest-rate cuts under the economy's belt, white-collar employers will regain their appetite to start hiring again."I'm hopeful," Bach told me. "I think a lot of people like me are eager to get back to work, to show companies that we're worth taking a chance on. If you take a risk on me, I'll show you that I'm worth it."<a target="_blank" class="" href="https://www.businessinsider.com/author/aki-ito">Aki Ito</a> is a chief correspondent at Business Insider.

Tech jobs are mired in a recession

<keyword id="19945815" type="General" weightage="20" keywordseo="startups" source="keywords">Startups</keyword> in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> have high expectations from this year's upcoming <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword>. Early-age startups hope for the removal of angel taxes, while <keyword id="20677283" type="General" weightage="20" keywordseo="health-tech-startups" source="keywords">health tech startups</keyword> expect increased <keyword id="19913964" type="General" weightage="20" keywordseo="funding" source="keywords">funding</keyword> for the sector. Startups function as engines of economic growth, playing a crucial role in generating new jobs, ideas, products, and services. As of December 2023, the Department for Promotion of Industry and Internal Trade (DPIIT) had recognised 1,17,254 startups. These startups have reportedly created over 12.42 lakh direct jobs, significantly impacting the economy. Eklavya Gupta, CEO and Co-founder of Recur Club, stated, "We are confident that India's business credit landscape is on the brink of a major digital overhaul. FinTechs are at the forefront of this change, deploying innovative technologies and utilising in-depth data analytics to streamline and expand <keyword id="20974354" type="General" weightage="20" keywordseo="credit-access" source="keywords">credit access</keyword>." He added, "While the current allocation of Rs 10,000 crore is an excellent initial step, realising the full capabilities of India's SME and startup ecosystem will necessitate greater investment, especially in credit guarantee schemes." Vinod K Singh, Co-Founder and CTO of Concirrus, expressed his expectations from the budget: "As the Union Budget 2024-25 approaches, we hope the government will address the pressing issue of the 'angel tax.' Eliminating this tax will enhance capital formation and attract vital <keyword id="19895633" type="General" weightage="20" keywordseo="investments" source="keywords">investments</keyword>. Streamlining the duty structure and reducing high tariffs on electronic inputs are also crucial to bolstering the startup ecosystem and driving innovation. Expanding the Fund of Funds and introducing low-interest loans would be beneficial." Rajiv Lamba, co-founder and CEO of AI-enabled customer feedback platform Surveysensum, added, "Just as the government has prioritised financial inclusion, it should now focus on <keyword id="22405441" type="General" weightage="20" keywordseo="technological-inclusion" source="keywords">technological inclusion</keyword> to propel India to the next stage of growth. By training youth in AI, the government can make a strategic investment in the nation's technological future. Given the rapidly evolving job market, a substantial increase of 20 to 25 percent in budget allocation should be considered for AI-based skill development and entrepreneurship." He further emphasised, "Incentivizing investment in <keyword id="20328842" type="General" weightage="20" keywordseo="AI-startups" source="keywords">AI startups</keyword> and R&amp;D initiatives can boost local innovation in the AI space. The last budget introduced a deep tech fund of Rs 1 lakh crore with a 50-year interest-free loan period; the government should now establish a clear and transparent mechanism for access to this fund." Raja S, founder and MD of Hearzap, highlighted the expectations of health tech startups: "Health tech startups are eagerly anticipating increased funding that could usher in transformative advancements. This crucial investment holds the promise of extending cutting-edge healthcare solutions to rural and underserved areas, effectively bridging existing gaps in care. The upcoming budget ensures that every individual in our diverse population, from the youngest to the oldest, can access essential health services, including specialised care." Discussing taxation for startups in India, Vvihan Gulati, Director of Mediagraphics PR, commented, "Removing the angel tax is a highly anticipated move that would benefit early-stage startups and their investors. It would foster a more favourable environment for innovation and growth, allowing startups to attract much-needed capital without the burden of excessive taxation. This change could significantly enhance the ease of doing business and contribute to the overall growth of the startup ecosystem in India." The Union Budget 2024 will be tabled on July 23 by Union Finance Minister Nirmala Sitharaman. With this, she will become the first Finance Minister to deliver seven consecutive budgets, surpassing Morarji Desai. She presented the interim budget on February 1 of this year.

Startups demand angel tax elimination, incentives on investments in upcoming budget

When Apple unveiled the Vision Pro during WWDC last year, the world waited for what looked like the next big thing in the virtual reality world. The Vision Pro was praised by journalists ahead of its launch and its hefty price tag also raised some eyebrows. Now, the Cupertino-based tech giant is gearing up to launch the second variant of its wearable device. And according to Bloomberg’s Mark Gurman, the device might be here by late 2025 or early 2026, bringing significant internal upgrades to boost performance. The new model is expected to feature Apple’s advanced M5 chip, marking a shift from the M2 in the original Vision Pro, which, despite its powerful specs, felt quickly outdated as newer chips were released. <h2>No cheaper Vision Pro? </h2> Initially, Apple had also considered a budget version of the Vision Pro headset, anticipated to retail around $2,000 with scaled-back features. However, recent insights from Apple’s supply chain analysts and insiders suggest that plans for this affordable alternative have been suspended, possibly due to concerns over whether a lower-cost model would create enough demand. Instead, Apple is prioritising premium improvements to the Vision Pro line, with the upcoming headset aimed at providing a highly immersive augmented reality experience. <h2>About Vision Pro 2 </h2> In terms of design, the Vision Pro 2 is expected to closely resemble its predecessor, maintaining the original model’s sleek, high-end look, yet bringing a more powerful experience. Externally, few changes are expected, but the internal shift to the M5 processor will be pivotal for Apple’s AR ambitions, potentially making this one of the most advanced headsets available. Apple’s strategy here is clear: to bridge the gap between regular releases and keep the Vision Pro line competitive. On the software front, Apple is expected to roll out updates like the visionOS 2.2, which introduces new Mac display options in AR. <h2>Apple entering smart glasses market? </h2> On a related note, the Vision Pro 2 doesn’t seem to be the only wearable device that Apple is working on. A couple of days back, reports of Apple working on Meta Ray Ban-like smart glasses had also surfaced. A Bloomberg report had also said that Apple was conducting internal research to develop these smart glasses. The study, led by the company’s Product Systems Quality team, sought employee feedback to understand the potential of smart glasses and their key features. According to the report, this internal survey asked participants to evaluate existing smart glasses available on the market. The feedback collected from these focus groups will reportedly be crucial for Apple as it looks to understand the demand and fine-tune features that could be incorporated into its product. While it’s still early in the process, these developments suggest that Apple is planning to enter the smart glasses market in the next few years, with a product that may directly compete with Meta’s Ray-Ban glasses. If these smart glasses are developed, they could serve as an upgrade to Apple’s existing wearable ecosystem. The glasses would expand Apple’s range, offering a more immersive and interactive experience for users. Given Apple’s reputation for creating seamless and integrated experiences, these smart glasses could become an essential part of its growing wearable portfolio.

Apple could launch Vision Pro 2 in 2025, shelves plans for a cheaper Vision Pro: Report

Last week, Donald Trump announced the creation of the <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-department-of-government-efficiency-donald-trump-ramaswamy-2024-11">Department of Government Efficiency</a>, which promises to "dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies." And to run the new cost-cutting department, Trump tapped the businessman he calls the world's "greatest cutter" — <a target="_blank" class="" href="https://www.businessinsider.com/gop-senator-waste-list-influence-elon-musk-spending-cuts-2024-11">Elon Musk</a>.If you're looking to take a chainsaw to the federal government, Musk seems perfectly suited to the job. At <a target="_blank" class="" href="https://www.businessinsider.com/twitter-x-elon-musk-startup-competitition-town-square-election-2024-10">Twitter,</a> he eliminated a staggering 80% of the staff — over 6,000 people. At <a target="_blank" class="" href="https://www.businessinsider.com/tesla-salary-database-elon-musk-pay-strategy-2024-11">Tesla</a>, he cut 10% of the workforce, saying the company needed to be "absolutely hardcore about headcount and cost reduction." He also laid off 10% of employees at <a target="_blank" class="" href="https://www.businessinsider.com/spacex-jared-isaacman-interview-polaris-dawn-space-walk-2024-11">Space X</a>, insisting his teams need to be scrappy and nimble. Cutting, for Musk, is generally Job No. 1.For the most part, Musk's slash-and-burn tactics have paid off. Twitter usage, according to Musk, is at an all-time high. Tesla's stock is up 28% over the past year. And SpaceX — now valued at $250 billion — is grabbing rockets out of the sky with <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-spacex-starship-landing-super-heavy-2024-10">giant chopsticks</a>. In the world of business, fewer workers often translate into higher profits.The question is: Can the cost-cutting tactics Musk has employed in the private sector work to corral waste and bloat in the federal government? Musk and his DOGE cochair, the biotech billionaire <a target="_blank" class="" href="https://www.businessinsider.com/why-elon-musk-cutting-federal-spending-could-work-2024-11">Vivek Ramaswamy</a>, have said they're looking to hire "super high-IQ small government revolutionaries" to help make $2 trillion in cuts — about a third of all federal spending — and to slash the federal workforce by as much as 75%. It's a dream that has eluded every Republican administration since Ronald Reagan — and it's one that may prove elusive even for Musk, the man now anointed as America's cost-cutter in chief.There's certainly no shortage of waste and inefficiency in the federal government that cries out to be streamlined. In 2019, the Defense Department forked over $22 million for lobster tails. In 2020, the IRS sent $1.4 billion in tax refunds to dead Americans. Millions of square feet in federal buildings sit unoccupied.In theory, a bold, outside figure like <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-donald-trump-elected-shadow-president-2024-11">Musk</a> could be the very thing needed to downscale an operation as vast and intractable as the federal government. Large organizations need a force of "creative destruction" to change, says Michael Morris, a professor at Columbia Business School. "Things don't go away on their own. You have to have somebody with a willingness to deliberately dismantle things if you're going to have innovation." And when a new figure institutes a massive shock to the system — whether at the government or private level — "it often backfires," says Morris. "There's often very fierce, active resistance to change." As <a target="_blank" class="" href="https://www.businessinsider.com/joe-biden-corporate-gerontocracy-aging-ceos-retirement-succession-replacement-2024-8">CEO</a>, Musk has the latitude to push past that resistance and overhaul company culture. But things are going to be different with DOGE. Despite its branding as a "department," the new outfit will operate only in an advisory capacity: Congress holds the ultimate responsibility for authorizing spending and <a target="_blank" class="" href="https://www.businessinsider.com/doge-how-to-apply-dm-job-application-elon-musk-2024-11">eliminating agencies</a>. Government, by design, is an intensely collaborative process, intended to hammer out the competing needs of different constituencies. Musk, by contrast, is accustomed to ruling by fiat."Musk certainly exercises a great deal of control in his companies that he won't have in the environment of the federal government, where we have checks and balances," says Andy Wu, an associate professor of business administration at Harvard Business School. "Even if Musk had the right idea for things, it's not so clear he could implement any of them."The federal government is infamous for holding on to past practices, even when they no longer make sense. Linda Bilmes, a senior lecturer in public policy at the Harvard Kennedy School, cites the continued minting of the penny, each of which costs three cents to produce. Last year, in an economy that has largely moved away from cash, the government spent $179 million forging pennies and nickels. Yet past calls to get rid of the penny haven't amounted to one red cent."The danger is if Elon Musk were to somehow think he is the first person who has ever looked at cost cutting in government," says Bilmes. "Many people who know a lot about government have proposed many good ideas. The potential for usefulness would be if he could take some already reasonably good ideas and help them get implemented."The <a target="_blank" class="" href="https://www.businessinsider.com/watchdog-dod-must-speed-up-weapons-deliveries-to-maintain-advantage-2024-6">Government Accountability Office</a> and inspectors general have already recommended a variety of potential targets. They aren't always flashy: This year, the GAO recommended agencies use predictive models to schedule maintenance, saying they could save $100 million or more. It also urged the IRS to focus on collecting taxes owed by sole proprietors, which could generate hundreds of millions of dollars in revenue. If the government implemented all 5,480 of its suggestions, the GAO estimated, it would "produce measurable financial benefits" of up to $208 billion.But so far, Musk has seemed more interested in the kind of flashy, small-bore proposals that attract clicks on X. He's taken to resharing what he sees as examples of waste — everything from $3 million spent on drug research that involved watching "hamsters fight on steroids" to a $20,000 grant that funded drag shows in Ecuador — and crowdsourcing them on the platform. Those sorts of items might generate outrage on <a target="_blank" class="" href="https://www.businessinsider.com/twitter-donald-trump-elon-musk-2024-11">Fox News</a>, but eliminating them won't do much to trim the federal government's $6,200,000,000,000 in annual spending.Then there's the politics of budget cutting. The last time Republicans succeeded at slowing government spending, under <a target="_blank" class="" href="https://www.businessinsider.com/reagan-secret-service-agent-says-trump-shooting-failure-for-agency-2024-7">Ronald Reagan</a>, they made deep cuts to areas of government that proved unpopular — including social welfare programs, student loans, and job training. Musk may see plenty of areas he'd like to slash, but a wide range of constituencies will inevitably push back against cuts to programs they consider essential. When it comes to federal spending, one person's waste is another person's bread and butter."People support the idea of improving how the government delivers services," says Joel Friedman, the senior vice president for federal fiscal policy at the Center on Budget and Policy Priorities, a progressive think tank. "I think people would take a different view if you end up gutting programs they depend on and care about." Efficiency always sounds like a good thing, until it comes for something you love.Beyond the question of where to cut, Musk will face intense scrutiny over why he's targeting certain areas of government. His role at DOGE is rife with the potential for conflicts of interest. SpaceX, for example, has received nearly $20 billion in federal contracts since 2008, and Musk has been sharply critical of the Federal Aviation Administration, viewing it as an obstacle to launching his powerful <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-trump-spacex-starship-rocket-milestone-election-2024-10">Starship</a>. And his massive investments in electric vehicles and social media are dependent on all sorts of federal spending and oversight. When it comes to how the government interacts with the marketplace, the world's richest man inherently has a lot of skin in the game. Musk's companies did not respond to requests for comment. But Brian Hughes, a spokesperson for Trump's transition team, says it plans to ensure that those involved with DOGE "are compliant with all legal guidelines related to conflicts of interest."Those concerns also touch on the larger question of what Trump and his allies hope to accomplish by reducing the size of government. Calls for reducing "inefficiency" and "bureaucracy" have long been a euphemism for Republicans eager to reduce or eliminate federal oversight of everything from industrial pollution to airline safety. Less government is not necessarily better government, and there are plenty of federal agencies that remain so understaffed and underfunded, from the IRS to the Veterans Administration, that they're unable to perform even their most basic functions. The GOP's aim of cutting spending, a leading Reagan ally once acknowledged, is to shrink government to the size where conservatives can "drag it into the bathroom and drown it in the bathtub." On Friday, Ramaswamy directly linked DOGE to the Reagan-era dream of smaller government, promising that the new agency will finish its work by July 4, 2026 — the 250th anniversary of the Declaration of Independence.And even when conservatives have succeeded at cutting costs, it's done nothing to slow the pace of government spending. Reagan slashed $22 billion in social welfare programs during his first two years in office — savings that were more than offset by his tax cuts and military spending, which nearly tripled the national debt. And in 1981, when a deep recession hit, carving up the safety net left the millions of Americans who were mired in poverty with even fewer resources to get by.It's also important to remember that Musk did more than downsize X — he also used the platform to elevate far-right talking points and unfounded conspiracy theories. In short, he reshaped it to serve his own political ends, making it meaner as well as leaner. It remains to be seen if Musk will do the same with DOGE. There are plenty of places where Uncle Sam could spend America's hard-earned tax dollars more wisely. But there are also plenty of places where the man Trump's family now refers to as "Uncle" Elon could deploy what DOGE calls "unglamorous cost-cutting" to bend the federal government to serve his own financial needs.Musk has acknowledged that Americans will feel "hardship" as a result of the cuts he wants to see implemented. But that doesn't mean he won't be able to juice more performance out of fewer resources, as he did at his own companies. When Musk slashed the workforce at Twitter, critics predicted that the app would collapse without enough staff to maintain it. Two years later, after a few initial glitches, it works much the same as before — at a far lower cost. Doubting Musk, even when he seems to be operating at his most extreme, can be a fool's game.<a target="_blank" rel="" class="" href="https://www.businessinsider.com/author/amanda-hoover">Amanda Hoover</a> is a senior correspondent at Business Insider covering the tech industry. She writes about the biggest tech companies and trends.

Elon Musk downsized Big Tech. Can he do the same to Big Government?

The offers and details on this page may have updated or changed since the time of publication. See our article on <a href="https://www.businessinsider.com/ray-dalio-bridgewater-billionaires-personal-finance-advice-debt-election-china-2024-11" target="_blank">Business Insider</a> for current information.<ul class="summary-list"><li>Ray Dalio says identifying your basic needs and ensuring they're covered is key to a happy life.</li><li>People can save money and ease their financial worries by focusing on the essentials, he said.</li></ul>Ray Dalio says figuring out your fundamental needs and setting aside enough cash to cover them is key to solving money troubles. He also sees a <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/ray-dalio-bridgewater-fed-rate-hikes-inflation-economy-dollar-china-2022-10 ">dangerous trio</a> of threats to the US.The founder of Bridgewater Associates, the world's largest hedge fund, spoke on "Tom Bilyeu's Impact Theory" in an episode released on Tuesday. Dalio is worth just over $16 billion, per the Bloomberg Billionaires Index.He advised people to analyze their incomes, expenses, and savings, then conduct a stress test by calculating how many months or years they could afford an acceptable lifestyle if their income was cut or went to zero and they had to <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/banking/what-is-an-emergency-fund">rely on savings</a>.The author, investor, and official mentor to Bridgewater's three co-chief investors said <a target="_blank" class="" href="https://www.businessinsider.com/kevin-oleary-shark-tank-wasting-money-retirement-personal-finance-advice-2024-10">many people have lost touch</a> with what's essential to life — such as a bed, food, and basic healthcare."I think we visualize too much the <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/banking/lifestyle-creep">things that we're used to</a>," Dalio said. Focusing on the basics instead can relieve stress and lead to a "happy life." Dalio said he's "seeing a number of people who are <a target="_blank" class="" href="https://www.businessinsider.com/us-economy-credit-card-debt-yolo-consumer-spending-recession-rosenberg-2024-2">going broke</a>," and they could benefit from figuring out what they need in life and building their budgets around those things."It's the ambiguity, it's the worry, it's the <a target="_blank" class="" href="https://www.businessinsider.com/tips-financial-planner-young-people-anxious-about-money-2024-10">stress</a>," he said. "So if you do that from the beginning, and you have that played out in your head, then you know everything from there you can play with, and it's your icing on the cake. Once you've got safe, everything beyond that is luxury."<h2 id="d4e0bf4d-cde1-476e-ad7c-c91e202d6868">Debt, infighting, and geopolitics</h2>Consumers have been hit hard by soaring prices for food, fuel, housing, and other basics in recent years. They've also seen the monthly payments on their credit cards, car loans, mortgages, and other debts soar. Higher inflation and interest rates have made the economy a <a target="_blank" class="" href="https://www.businessinsider.com/election-preview-consumer-outlook-how-trump-harris-housing-taxes-2024-11">key concern for voters</a> ahead of the presidential election.Dalio said on the podcast that people should first take care of themselves, then hope their leaders build an economy that will "increase the size of the pie as well as divide the pie well."If those in charge won't cooperate with their political rivals, the result can be unproductive infighting that weakens the economy, he said. Failing to unite the country could result in revolution and subpar management, which Dalio deemed the "greatest risk" from a political standpoint.He also <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/ray-dalio-us-debt-crisis-economy-recession-outlook-borrowing-ceiling-2023-6 ">rang the alarm</a> on the potential financial and economic fallout from the US government's <a target="_blank" class="" href="https://www.businessinsider.com/ray-dalio-economy-government-debt-crisis-recession-bridgewater-fed-rates-2023-9 ">mushrooming debt pile</a>, internal conflict fueled by a massive wealth gap, and mounting challenges to America's global dominance from China and Russia.Dalio said US politicians are "<a target="_blank" class="" href="https://www.businessinsider.com/harris-trump-rage-presidential-debate-strategy-reaction-election-2024-9">at each other's throats</a>" as the Republican and Democratic presidential candidates, Donald Trump and Kamala Harris, wait to learn who's been victorious."The dominoes are beginning to fall," he said about the <a target="_blank" class="" href="https://www.businessinsider.com/nycb-regional-bank-fears-commercial-real-estate-turmoil-fears-2024-2">stresses</a> on regional banks, commercial real estate, venture capital, private equity, and the wider tech sector both in the US and overseas. The investor blamed those issues at least partly on excessive government spending and irresponsibly low interest rates."We're going to have financial problems and economic problems at the same time as we have this internal fighting and this, an external risky situation," Dalio added.

Billionaire Ray Dalio says people should budget for the basics — and the US faces 3 huge threats

<ul class="summary-list"><li>Used electric vehicles became more affordable after a new tax credit kicked in in January 2023.</li><li>Driving range and driving habits can affect the type of used EV you should shop for.</li></ul>Electric-vehicle prices are falling across the board. And as <a href="https://www.businessinsider.com/nissan-kicks-review-price-rare-find-under-30k-2024-10">more models flood the market</a>, you can get a particularly good deal on a used EV.But shelling out thousands of dollars on an unfamiliar piece of technology (especially one that's been around the block a few times) is daunting for some shoppers.Aside from wondering <a href="https://www.businessinsider.com/cheapest-electric-car-affordable-kia-ford-chevy-hyundai-nissan-2022-6">which car to buy</a>, used-EV shoppers might be wondering whether the battery could die. Shoppers on a budget might also be looking for more ways to save money, as EV tax credits broadened to include used electric cars in January 2023.The research can be a lot to take on at once. We talked to car-buying experts to demystify the process.<h2>Consider where and how much you drive</h2>Scott Case, the cofounder and CEO of Recurrent, a startup that tracks EV battery health, recommended starting by considering how far you typically drive and the climate you live in — those factors will affect how much range you'll want, as EVs perform best in temperate weather and can't drive quite as far in cold temperatures."Let's say you live in Florida and you drive 30 to 50 miles every day — you can pretty much buy anything," Case said. On the other hand, people who travel 150 miles daily and live in the occasionally frigid Midwest would need to shop around for a long-range vehicle.<div type="image" title="A gray Tesla Cybertruck plugged in at a public charging station." height="1150" width="1533" msid="114294136" hostid="261" sizebytes="313240"></div>Most older electric cars don't have the range of the latest offerings — you might find models with estimates from the Environmental Protection Agency of only 80 to 120 miles.<h2>Battery range will degrade over time</h2>Anyone who's owned a smartphone knows that lithium-ion batteries wear out over time. Pretty much the same goes for EVs.As the years go by, cycles of charging and driving wear out an EV's battery pack, reducing driving range. The vehicle-data firm Geotab has estimated that EV batteries <a href="https://www.geotab.com/blog/ev-battery-health/" target="_blank" rel="noopener">tend to lose about 2% of their capacity each year</a>.The good news is that an EV's battery is unlikely to fail completely or render the car useless.But understanding how much life a vehicle has left isn't all that simple. Case said that exposure to extreme temperatures, frequent trips to powerful DC fast chargers, and variations in battery chemistry mean some used cars perform better than others with identical mileage.<div type="image" title="A charging cable extending from a Tesla Supercharger to a Chevrolet Equinox EV." height="3024" width="4032" msid="114294138" hostid="261" sizebytes="789912"></div>Jim Fish, a vice president of Opus IVS, a tech-focused collision-repair company, said the best question to ask about a battery's care is how often it was left below 20% and above 80% of its charge.Leaving a battery too close to empty or on a full charge for too long affects its ability to hold a charge, Fish said."Of course, you might struggle to find out the truth to that question," Fish said.Recurrent provides reports on EV battery health aimed at helping shoppers choose between cars.<h2>You can get up to $4,000 off thanks to federal tax credits</h2>At the start of last year, a <a href="https://www.businessinsider.com/federal-state-electric-car-vehicle-tax-credits-rebates-qualify-2023-1">used-EV tax credit went into effect</a> as part of a larger incentive program in the Inflation Reduction Act. Automotive retail analysts described it as a welcome change for EV shoppers on a budget.To <a href="https://www.businessinsider.com/ev-tax-credit-suv-tesla-model-y-ford-mach-e-2023-2">qualify for the credit</a>, the vehicle must be purchased at a dealership so that the dealer can report the required information to the IRS.The buyer must be purchasing the vehicle for personal use and not for resale, must not be the original owner of the vehicle, must not be able to be claimed as a dependent, and must not have used any other clean-vehicle credit in the previous three years. Income caps for buyers range from $75,000 to $150,000, depending on their tax-filing status.The vehicle must have a sale price of $25,000 or less and must be at least two model years old.Many states also have tax incentives for purchasing EVs. More detailed information and required forms can be found on the <a href="https://www.irs.gov/credits-deductions/used-clean-vehicle-credit" target="_blank" rel="noopener">IRS's website</a>.

Considering an electric vehicle? Experts explain how to pick one for your lifestyle and budget

One aspect that always garners much traction on the <keyword id="19936553" type="General" weightage="100" keywordseo="Budget" source="keywords">Budget</keyword> day is what got <keyword id="20257498" type="General" weightage="20" keywordseo="cheaper" source="keywords">cheaper</keyword> and what got <keyword id="20286063" type="General" weightage="20" keywordseo="costlier" source="keywords">costlier</keyword>. Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> as part of her Budget presentation proposed a host of tweaks in basic <keyword id="20454068" type="General" weightage="20" keywordseo="customs-duty" source="keywords">customs duty</keyword> (BCD) for various products or items that are critical for manufacturing. In her Budget speech, Sitharaman proposed an exemption on customs duty on certain <keyword id="22516435" type="General" weightage="20" keywordseo="cancer-medicines" source="keywords">cancer medicines</keyword> and a reduction in duties on <keyword id="19920958" type="General" weightage="20" keywordseo="mobile-phone" source="keywords">mobile phone</keyword> parts and chargers, aimed at bringing down their prices in the retail market. "With a three-fold increase in domestic production and almost 100-fold jump in exports of mobile phones over the last six years, the Indian mobile phone industry has matured. In the interest of consumers, I now propose to reduce the BCD on mobile phone, mobile PCBA and mobile charger to 15 per cent," said Sitharaman in her Budget speech that lasted around 90 minutes. To provide relief to cancer patients, she proposed to fully exempt three more medicines from customs duties. Imported <keyword id="19895579" type="General" weightage="20" keywordseo="gold" source="keywords">gold</keyword>, silver, leather goods and seafood will also get cheaper, as duties were invariably lowered on them. Duty cut on gold would boost retail demand and help in curtailing smuggling in the world's second-biggest bullion market. "To enhance domestic value addition in gold and precious metal jewellery in the country, I propose to reduce customs duties on gold and silver to 6 per cent and that on platinum to 6.4 per cent." She also proposed changes in the customs duty on X-ray tubes and flat panel detectors for use in medical X-ray machines under the <keyword id="20330318" type="General" weightage="20" keywordseo="phased-manufacturing-programme" source="keywords">Phased Manufacturing Programme</keyword>, so as to synchronise them with domestic capacity addition. Also, she proposed to fully exempt customs duties on 25 critical minerals and reduce basic customs duty on two of them. Minerals such as lithium, copper, cobalt and rare earth elements are critical for sectors like nuclear energy, renewable energy, space, defence, telecommunications, and high-tech electronics, said the finance minister. "This will provide a major fillip to the processing and refining of such minerals and help secure their availability for these strategic and important sectors," Sitharaman said. Putting energy transition on focus, as it is critical in the fight against climate change, the finance minister proposed to expand the list of exempted capital goods for use in the manufacture of solar cells and panels in the country. However, in view of sufficient domestic manufacturing capacity of solar glass and tinned copper interconnect, it was proposed not to extend the exemption of customs duties provided to them. To enhance competitiveness in marine products, the reduced duty on certain broodstock, polychaete worms, shrimp and fish feed to 5 per cent, besides exempting customs duty on various inputs for manufacture of shrimp and fish feed. Moving on to leather and textile, reduction in duty was announced for various items. "...to enhance the competitiveness of exports in the leather and textile sectors, I propose to reduce BCD on real down filling material from duck or goose," Sitharaman said. To reduce cost of production of steel and copper, two important raw materials, it was proposed to remove the customs duty on ferro nickel and blister copper. "I am also continuing with nil BCD (customs duty) on ferrous scrap and nickel cathode and concessional BCD of 2.5 per cent on copper scrap." On the flip side, to support chemicals and petrochemicals, an increase in duty was proposed. To support existing and new capacities in the pipeline, an increase in duty on ammonium nitrate from 7.5 to 10 per cent would be applicable. PVC flex banners are non-biodegradable and hazardous for environment and health. To curb their imports, a propose was made to raise the duty on them from 10 to 25 per cent. To incentivise domestic telecommunication equipment manufacturing, a propose to increase the duty from 10 to 15 per cent on PCBA (printed circuit board assembly) of specified telecom equipment was made. Explaining her rational behind the indirect taxes tweak, Sitharaman said her proposals for customs duties intend to support domestic manufacturing, deepen local value addition, promote export competitiveness, and simplify taxation, while keeping the interest of the general public and consumers surmount. In Budget 2022-23 too, the government reduced the number of customs duty rates.

Here's what will get cheaper and costlier after this Budget

<ul class="summary-list"><li>Microsoft, Oracle, and Amazon are venturing into nuclear power for data centers.</li><li>Nuclear power is reliable and carbon-free, crucial for AI-driven energy demands and climate goals.</li></ul>Nuclear power's stock is rising thanks to artificial intelligence's insatiable appetite for electricity.Tech giants including Microsoft, Oracle, and Amazon have struck deals in nuclear power this year in hopes of supplying their data centers with carbon-free electricity. The deals have buoyed the confidence of global financial institutions, 14 of which on Monday <a target="_blank" href="https://www.businessinsider.com/nuclear-power-banks-support-boost-output-microsoft-larry-ellison-2024-9">endorsed a goal to triple nuclear energy</a> by 2050. Bank of America and Goldman Sachs are among the signatories.It's a <a target="_blank" class="" href="https://www.businessinsider.com/nuclear-power-diablo-canyon-california-newsom-germany-japan">remarkable shift</a>, given that just five years ago the nuclear plant at Three Mile Island in Pennsylvania shut down in part because it couldn't compete with cheap natural gas. The site was also a symbol of the risks of nuclear energy after one reactor partially melted down in 1979. Now Constellation Energy, the owner of Three Mile Island, <a target="_blank" href="https://www.businessinsider.com/three-mile-island-nuclear-plant-reopens-power-microsoft-ai-push-2024-9">plans to spend $1.6 billion over three years to reopen one reactor</a> that had safely operated for decades. Microsoft agreed to buy the electricity <a target="_blank" href="https://www.businessinsider.com/microsoft-plan-double-triple-data-center-capacity-2024-4">for its growing fleet of data centers</a>."It's only recently that people have come to appreciate the importance of [nuclear power] from a reliability perspective," Kathleen Barrón, executive vice president and chief strategy officer for Constellation, told Semafor during an event at Climate Week in New York City. "But even more so, that there just are no other resources on the grid that can operate when customers need it, consistently, without any air pollution or carbon emissions."All those factors make nuclear attractive to Big Tech companies, which made lofty climate promises but are still generating more emissions as they aggressively invest in electricity-hungry data centers. Earlier this year, <a target="_blank" href="https://l.businessinsider.com/e/evib?_t=c8e10479a20f45bba5aad6c5f6fbb009&amp;_m=0dbc78003e564580b4e87c95698d0e02&amp;_e=8U4bXw3HX8KDYSsPzOolGOCYuGSttGyuSAzwaclc6RLhG88pp5ZvENg7wFUaiGhas0CJQxM0PQO-UKfMbE1JyA%3D%3D">Microsoft reported a 30% spike in carbon emissions</a> between 2020 to 2023, blaming AI and all the carbon-intensive cement, steel, and microchips needed to build data centers. Google reported a nearly 50% increase in emissions since 2019, citing similar drivers.That climate dilemma isn't slowing the AI boom. Microsoft, Amazon, Google, Meta, and Apple are on track to spend a combined <a target="_blank" href="https://l.businessinsider.com/a/click?_t=c8e10479a20f45bba5aad6c5f6fbb009&amp;_m=0dbc78003e564580b4e87c95698d0e02&amp;_e=wWZA5Xoinj0sH2ZX3ugl_OzAKGrCiaQhI0tCdnLiYoGrY2K9XAQ9DXH1nfuXy-AVxR1I2cM5WdV4N__NEHyRgYfxy7pVcK_RoGnlzbfAMw0peO387D2ee0ZCHzEGiY5546lzxSGycKFUCR40aeM1KaciKqift090lKwLtQ-AzllnLeaMvGjH2Szgt7qYcBgSDAgaI_Mdcc7iH_aEDW-Bgh1nvCAEJ7ASTgU-RZ0dP8JOjrfM1r3GFWQ2YdecsSNiiMOGH1mQj_CO9LoLsPhlRawPXj44fGS-XAxiJXAiO3DhIdN0_A7HQjBdVIFETbbhh0ciFuWaBCHhWzClc4RKuys42wiLQFOopc9nCjwKVz5SFVkf_agp-59KZ3ilLlt162SzG2LHLnyVB6tPBRUdSpzM4IhgspSGtjURjCI2Cd8%3D">$200 billion</a> on fixed assets this year, with the majority of that money going toward data centers to support AI, according to a Bernstein research note from earlier this year. In the next five years, that spending could surpass $1 trillion.All the growth risks taxing an already-stressed power grid that uses a lot of dirty natural gas. The pipeline of data centers in places like Virginia and Arizona has <a target="_blank" href="https://www.businessinsider.com/data-centers-energy-demand-utilities-green-renewable-2023-10">already slowed the green energy transition</a>. The Electric Power Research Institute, an energy think tank, forecast that data centers could consume up to 9% of US electricity annually by 2030, compared to an estimated 4% today. And while tech companies are the largest buyers of solar, wind, and battery storage, it still isn't enough to meet the 24/7 needs of data centers.<h2 id="a02dd0e8-7117-4d44-8d2a-36fd9deff1d0">Delayed and over budget</h2>While nuclear power is around the clock, critics warn that it isn't a realistic solution to the data center problem. Hyperscalers need energy now and restarting a mothballed nuclear plant — let alone building new ones — can take years or even a decade. It's also an expensive gamble. Nuclear projects have a track record of going over budget. The most recent new US nuclear plant, built by Georgia Power, <a target="_blank" href="https://apnews.com/article/georgia-nuclear-power-plant-vogtle-rates-costs-75c7a413cda3935dd551be9115e88a64">arrived seven years late and $17 billion over budget</a>.Three Mile Island could run into similar problems, said Tim Judson, executive director of the Nuclear Information and Resource Service, which advocates against nuclear power and for renewables like solar and wind. He noted that the plant needed licensing approvals from the Nuclear Regulatory Commission and that reviving an old reactor that's been idle for five years could prove technically challenging.Barrón of Constellation Energy acknowledged that even with new federal tax breaks for nuclear energy, Three Mile Island wouldn't be economical to run without Microsoft, which agreed to pay a premium for electricity. Restarting the plant requires NRC approval following a safety and environmental review, as well as permits from state and local agencies. Constellation Energy said it will pursue a separate license renewal that extends operations to at least 2054.Judson is also concerned that Constellation Energy is talking to a regional grid operator, PJM, about putting the nuclear plant in front of a long queue of solar, wind, and battery storage projects waiting to be connected to the grid. He argued there'd be no need for a nuclear revival if renewable projects cleared those roadblocks faster.Nuclear's supporters disagree, including Arshad Mansoor, president and CEO of the Electric Power Research Institute. He told BI that no amount of renewables and battery storage will be enough to bring the economy to net-zero emissions. Data centers aren't the only driver of power demand. Electric vehicles and new manufacturing plants need electricity, too.Mansoor thinks the AI boom will actually accelerate a greener economy, noting that tech companies sparked greater deployment of wind and solar power."Now they've created a second spark, and it will not just be nuclear," Mansoor said.He predicted greater buy-in for geothermal, long-duration battery storage, and carbon capture and storage at gas plants — many more of which will be built in the coming years, Mansoor said.He also echoed what many tech executives said when defending AI's energy consumption: It will reduce emissions in the long run, such as by helping utilities manage the grid more efficiently and deploy renewables at peak demand times.However, it still isn't clear whether such benefits can offset soaring emissions.

Tech bros and bankers rally around nuclear power to fuel AI's rapid rise

Finance Minister Nirmala Sitharaman on Tuesday announced a cut in customs duty on minerals such as lithium, copper and cobalt, which are critical for nuclear energy, renewable and other sectors, to give a fillip to the energy transition. In her budget speech in Lok Sabha, Sitharaman recalled that in the interim budget she had announced a strategy to sustain high and more resource-efficient economic growth, along with energy security in terms of availability, accessibility and affordability. "We will bring out a policy document on appropriate energy transition pathways that balances the imperatives of employment, growth and environmental sustainability," she said. Noting that minerals such as lithium, copper, cobalt and rare earth elements are critical for sectors like nuclear energy, <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword>, space, defence, telecommunications, and high-tech electronics, she proposed to fully exempt customs duties on 25 critical minerals and reduce BCD (basic customs duty) on two of them. This will provide a major fillip to the processing and refining of such minerals and help secure their availability for these strategic and important sectors, she said. She stated that energy transition is critical in the fight against climate change. To support energy transition, she proposed to expand the list of exempted capital goods for use in the manufacture of solar cells and panels in the country. Further, she stated that in view of sufficient domestic manufacturing capacity of solar glass and tinned copper interconnect, I propose not to extend the exemption of customs duties provided to them. Noting that steel and copper are important raw materials and to reduce their cost of production, she proposed to remove the BCD on ferro nickel and blister copper. "I am also continuing with nil BCD on ferrous scrap and nickel cathode and concessional BCD of 2.5 per cent on copper scrap," she said. About the PM Surya Ghar Muft Bijli Yojana, which was rolled out earlier this year, he informed the House that in line with the announcement in the interim budget, PM Surya Ghar Muft Bijli Yojana has been launched to install rooftop solar plants to enable 1 crore households obtain free electricity up to 300 units every month. The scheme has generated remarkable response with more than 1.28 crore registrations and 14 lakh applications, and we will further encourage it, he stated. She further stated that a policy for promoting pumped storage projects will be brought out for electricity storage and facilitating smooth integration of the growing share of renewable energy with its variable &amp; intermittent nature in the overall energy mix. She stated that nuclear energy is expected to form a very significant part of the energy mix for Viksit Bharat. Towards that pursuit, our government will partner with the private sector for setting up Bharat Small Reactors; research &amp; development of Bharat Small Modular Reactor and research &amp; development of newer technologies for nuclear energy, she informed the House. The R&amp;D funding announced in the interim budget will be made available for this sector, she added. The development of indigenous technology for Advanced Ultra Super Critical (AUSC) <keyword id="20421620" type="General" weightage="20" keywordseo="thermal-power" source="keywords">thermal power</keyword> plants with much higher efficiency has been completed, she informed the House. A joint venture between NTPC and BHEL will set up a full-scale 800 MW commercial plant using AUSC technology and the government will provide the required fiscal support, she added. Moving forward, the development of indigenous capacity for the production of high-grade steel and other advanced metallurgy materials for these plants will result in strong spin-off benefits for the economy, she pointed out. A roadmap for moving the 'hard to abate' industries from 'energy efficiency' targets to 'emission targets' will be formulated, she stated adding that appropriate regulations for the transition of these industries from the current 'Perform, Achieve and Trade' mode to 'Indian Carbon Market' mode will be put in place. She further stated that an investment-grade energy audit of traditional micro and small industries in 60 clusters, including brass and ceramic, will be facilitated. Financial support will be provided for shifting them to cleaner forms of energy and implementation of energy efficiency measures. The scheme will be replicated in another 100 clusters in the next phase, she stated. Gaurav Kedia, Chairman, Indian Biogas Association said that the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> 2024 has unveiled a roadmap towards a sustainable and resilient India, with agriculture and energy security at its core. It is anticipated that these initiatives will catalyze the growth of the biogas industry, leading to increased rural employment, reduced carbon emissions, and improved soil health, he stated. SEE ALSO:<a href="https://www.businessinsider.in/budget/news/budget-2024-25-changes-to-tax-slabs-increased-standard-deduction-and-other-changes-to-direct-taxation/articleshow/111951205.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/budget-2024-25-changes-to-tax-slabs-increased-standard-deduction-and-other-changes-to-direct-taxation/articleshow/111951205.cms" target="_blank">Budget 2024-25 – Changes to tax slabs, increased standard deduction and other changes to direct taxation</a><a href="https://www.businessinsider.in/business/news/expectations-from-union-budget-2024-25-how-will-this-budget-impact-you/articleshow/111946291.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/expectations-from-union-budget-2024-25-how-will-this-budget-impact-you/articleshow/111946291.cms" target="_blank">Union Budget 2024-25: How will this budget impact you?</a> <a href="https://www.businessinsider.in/budget/news/budget-2024-record-allocation-of-rs-1-48-lakh-crore-for-education-employment-and-skilling/articleshow/111951228.cms">Budget 2024: Record allocation of Rs 1.48 lakh crore for education, employment and skilling!</a>

FM cuts customs duty on minerals critical for energy transition

<ul class="summary-list"><li>A fed rate cut will boost hiring in Big Tech, but firms will be cautious, HR experts told BI.</li><li>The "battle wounds" from a succession of brutal layoffs "are still fairly fresh," one said.</li></ul>The jumbo-sized Federal Reserve <a target="_blank" class="" href="https://www.businessinsider.com/fed-cuts-interest-rates-how-much-september-fomc-powell-inflation-2024-9">interest rate cut</a> Wednesday is bound to impact everything from <a target="_blank" href="https://www.businessinsider.com/interest-rate-cuts-decision-this-week-federal-reserve-powell-inflation-2024-9">home prices to new-car loans</a> to hiring in the hard-hit tech sector.But while the cut — the first in four years, and by a whopping 50 basis points — is likely to boost hiring, experts told Business Insider that Big Tech companies will likely be cautious.These businesses had to make difficult decisions to downsize and restructure after the pandemic boom, and "all of those battle wounds are still fairly fresh," Adam Stafford, CEO of recruitment marketing platform Recruitics, told Business Insider.Stafford expects the rate cut will provide "a little shot in the arm" for hiring but said "business leaders are going to be cautious to really hit the gas."Ryan Sutton, the executive director of technology practice at HR firm Robert Half, agreed the hiring market could get a jolt, but said companies will be "cautiously optimistic.""I think it's going to be an interesting fall," he mused.Nick Bunker, the director of North American economic research for the Indeed Hiring Lab, said the half-point cut signals a renewed focus by the Federal Reserve to support the labor market, but he doesn't expect it to immediately impact hiring."A variety of factors are weighing on hiring at large tech companies and one rate cut alone is unlikely to move the needle," he told BI in an email.Tech workers have faced a <a target="_blank" href="https://www.businessinsider.com/layoffs-sweeping-us-these-are-companies-making-cuts-2024">brutal run of layoffs that began in 2023</a> and a job market that's <a target="_blank" href="https://www.businessinsider.com/finding-job-awful-right-now-drop-in-openings-tough-search-2024-9">cooled off since the pandemic-era hiring explosion</a>.But there are still bright spots for tech workers, the HR experts said. While tech layoffs have largely impacted middle office workers such as those in HR and operations, Stafford said, companies have invested in core tech talent this year – with jobs in data science, AI, and machine learning "flying off the shelves."And while overall tech hiring has been "steady" and "conservative" this year, Sutton said, job seekers could see new opportunities fairly soon, given that those who were hoping for rate cuts likely adjusted their budgets when it was <a target="_blank" class="" href="https://www.businessinsider.com/interest-rate-cuts-are-coming-federal-reserve-jackson-hole-powell-2024-8">first signaled</a> in August."You're probably just about now going to truly start to see any signs," he said.

Even with a big rate cut, Big Tech will be cautious about another hiring spree

As the results season kicks in, the <keyword id="20097634" type="General" weightage="20" keywordseo="quarterly-earnings" source="keywords">quarterly earnings</keyword> numbers of several <keyword id="22405488" type="General" weightage="20" keywordseo="blue-chip-firms" source="keywords">blue-chip firms</keyword> — such as <keyword id="19906778" type="General" weightage="20" keywordseo="Infosys" source="keywords" meta.keywordsubtype="org" meta.entityname="Infosys" meta.hostid="261" meta.entityid="Infosys">Infosys</keyword> and Reliance Industries — along with <keyword id="20837523" type="General" weightage="20" keywordseo="global-trends" source="keywords">global trends</keyword> and <keyword id="20223116" type="General" weightage="100" keywordseo="trading-activity" source="keywords">trading activity</keyword> of foreign investors, will determine <keyword id="22405487" type="General" weightage="20" keywordseo="equity-market-movement" source="keywords">equity market movement</keyword> in the holiday-shortened week ahead, according to analysts. The domestic <keyword id="22405489" type="General" weightage="20" keywordseo="WPI-inflation-data" source="keywords">WPI inflation data</keyword> for June — scheduled to be announced on Monday — will also influence trading sentiments, traders said. Markets will remain closed on Wednesday for Muharram. Among major quarterly earnings to be tracked this week are from HDFC Life Insurance Company, Bajaj Auto, BPCL, JSW Steel, Asian Paints, Infosys, and Reliance Industries. "Q1 earnings will be a key focus this week as numerous companies, including heavyweights Infosys, and Reliance, are set to release their results. Additionally, <keyword id="22194639" type="General" weightage="20" keywordseo="pre-Budget-discussions" source="keywords">pre-Budget discussions</keyword> are expected to contribute to market volatility," Santosh Meena, Head of Research, Swastika Investmart Ltd, said. On the global front, a significant focus will be on China. The country is scheduled to announce its GDP and Industrial Production (IIP) numbers, Meena said. "Other global factors to watch include the speech by the US Federal Reserve Chairman, US retail sales figures, and macroeconomic data from Japan," he added. Meanwhile, IT services company HCL Tech on Friday posted a 20.4 per cent rise in consolidated net profit to Rs 4,257 crore for the June-ended quarter and gave a revenue growth guidance of 3-5 per cent for FY25 on GenAI diversification and strong operational execution. "On Monday, markets will react to India's inflation data. Key results this week include Jio Financial Services, HDFC Life, Asian Paints, LTIMindtree, Infosys, Wipro, JSW Steel, Paytm, etc. Also globally, investors will take cues from China's GDP numbers, US core retail sales data, and ECB (European Central Bank) interest rate decision," Siddhartha Khemka, Head, Retail Research, Motilal Oswal Financial Services Ltd, said. Retail inflation increased to four-month high of 5.08 per cent in June as food items, including vegetables, became dearer, according to government data released on Friday. Vinod Nair, Head of Research, Geojit Financial Services, said, "We expect stock-specific moves to gain traction due to the ongoing earnings season; indeed, IT will be in the limelight due to the good start to the earnings and outlook." In the week ahead, economic data like China GDP, EuroZone CPI inflation, ECB policy, and the US Fed chair speech will be watched by investors to get cues on market momentum, Nair added. On a weekly basis, the BSE benchmark jumped 522.74 points, or 0.65 per cent, while the Nifty climbed 178.3 points, or 0.73 per cent. The 30-share BSE Sensex jumped 622 points, or 0.78 per cent, to settle at a record closing level of 80,519.34 on Friday. During the day, it zoomed 996.17 points, or 1.24 per cent, to hit an all-time high of 80,893.51. The NSE Nifty surged 186.20 points, or 0.77 per cent, to settle at a record closing high of 24,502.15. Intra-day, it jumped 276.25 points, or 1.13 per cent, to hit a new lifetime peak of 24,592.20.

Trading activity to hinge on Q1 results, global trends in holiday-shortened week: analysts

<ul class="summary-list"><li>Adaptive technology lets teachers and students customize lessons for a better learning experience.</li><li>This can help close achievement gaps and promote equity in education.</li></ul>Savannah Marrero was 2 years old when she moved from Texas to Colombia with her family. Three years later, they returned to the Lone Star State, and Marrero fell behind in her education as she readjusted to a US curriculum. Marrero, now 12, told Business Insider that she used the adaptive-learning app <a target="_blank" href="https://uk.ixl.com/">IXL</a> to "learn new skills and refresh forgotten ones in language, math, and science."She was connected to IXL through the platform <a target="_blank" href="https://2hourlearning.com/about-us/">2hr Learning</a>, which uses adaptive tools to compress core academic lessons into two hours daily. Marrero said she must master each skill before progressing, which ensures a thorough understanding of the lessons.MacKenzie Price, the founder of 2hr Learning, said she launched the platform in 2014 after her daughters told her they were too bored and disinterested in traditional schooling. "Adaptive learning matches each student's pace, delivering information without discrimination," Price said. "It's an equitable and scalable solution."<div type="image" title="MacKenzie Price smiles for a headshot." height="2500" width="2000" msid="113132602" hostid="261" sizebytes="194664"></div><a target="_blank" class="" href="https://www.businessinsider.com/ai-literacy-ethics-teaching-students-educators-scholars-2024-2">Education is evolving</a> with developments in adaptive-learning technology. These tools collect and use data on each student's performance, progress, and learning style to tailor the learning experience to their proficiency and needs.As the technology develops, <a target="_blank" class="" href="https://www.businessinsider.com/treeview-extended-reality-artificial-intelligence-software-development-metaverse-2024-8">educators and IT professionals</a> hope that it will help students and teachers use their time and capabilities more efficiently and promote equity.<h2 id="2ea2d0ff-fbda-4145-bc8d-6983d476e9b1">Understanding adaptive technology</h2>Gautam Parasnis, the chief digital officer of the education-software provider Imagine Learning, told BI adaptive technology could create pathways that are more student-centric than traditional methods. "Books don't collect data," he said. But with data, he added, Imagine Learning can "understand learning patterns" and give educators personalized recommendations to help students learn quicker.<div type="image" title="Gautam Parasnis headshot." height="762" width="667" msid="113132599" hostid="261" sizebytes="44176"></div>Say a student who loves baseball is tackling a new math concept; on the student's tablet in the classroom or at home, the system might generate questions centered on baseball statistics or game scenarios. This approach allows the student to practice mathematical skills while engaging with a personal interest. The individualized lesson can help them catch up or, if they're advanced, give them more challenging problems to solve.<h2 id="44e4cfa1-4a8f-439c-86e8-ca7c526aae93">Closing achievement gaps and igniting passions</h2>The Education Recovery Scorecard, a collaboration between Harvard University's Center for Education Policy Research and the Educational Opportunity Project at Stanford University, found the pandemic <a target="_blank" href="https://educationrecoveryscorecard.org/wp-content/uploads/2024/01/ERS-Report-Final-1.31.pdf">created a learning loss</a>. This caused students to learn and retain information at a lower level than is age-appropriate (think: a fifth grader reading at a second-grade level). Brian Galvin, the chief academic officer of the learning platform <a target="_blank" href="https://affiliate.insider.com?h=3544dc2ffdc922c40ad8342c22b052f3ed892d012a54124b6aa222e8e0c7da14&amp;postID=66d8752a0abb17f431692eca&amp;postSlug=adaptive-learning-technology-helping-teachers-students-close-achievement-gap-2024-9&amp;site=bi&amp;u=http%3A%2F%2Fwww.varsitytutors.com%2F">Varsity Tutors</a>, said <a target="_blank" href="https://www.businessinsider.com/pandemic-students-face-economic-struggles-that-exceed-great-recession-2023-6">the learning loss</a> had led to persistent issues, such as students dropping out of school.Galvin told BI that adaptive technology uses specialized algorithms to help teachers identify the learning gaps and skills that students should address and build on. This is especially beneficial for those who struggle with steep learning curves, such as neurodivergent disorders, like dyslexia, or language barriers, which affect immigrant students."Adaptive technology doesn't care what skin color you have, if you're rich or poor, or what your learning style is," Price said. "It is infinitely patient and available all the time to help you."<div type="image" title="Brian Galvin headshot against a purple and blue gradient backdrop." height="1370" width="2460" msid="113132595" hostid="261" sizebytes="43486"></div>Students can also use adaptive technology to explore interests and boost skills in leadership, linguistic and communication development, and financial literacy. For example, <a target="_blank" href="https://affiliate.insider.com?h=4d60316b2be8c5a718daf9f6a86accce28799dea2a9df80aca70b845fae70835&amp;postID=66d8752a0abb17f431692eca&amp;postSlug=adaptive-learning-technology-helping-teachers-students-close-achievement-gap-2024-9&amp;site=bi&amp;u=https%3A%2F%2Fwww.memrise.com%2F">Memrise</a>, a language-learning app with over 70 million users, takes the adaptive-learning approach. Memrise's CEO, Steven Toy, told BI that the platform offers a "full language-learning experience" through customized daily lessons with spaced repetition and a personalized word list that teaches users terminology common to native speakers.<h2 id="a0295ecc-cd43-4f86-ad3f-b6022de0921d">Mitigating inequity issues</h2>Schools in low-income communities often struggle financially, which inhibits them from integrating technology into their curriculum. This disproportionally affects students of color and limits their access to helpful academic tools.Parasnis said that Title I funding, which provides federal financial support to schools with a high poverty rate, is a "critical resource." School districts can use the funds to "purchase technology, provide online tutoring, and address teacher shortages," he added.He added that many states were also boosting grants and adjusting policies to help districts manage their budgets more effectively. For example, some states, such as <a target="_blank" href="https://www.nysed.gov/essa/carryover-limits">New York</a> and <a target="_blank" href="https://www.cde.ca.gov/sp/sw/t1/carryover.asp">California</a>, allow districts to carry over unused Title I funds into subsequent school years.Galvin said programs such as Computers for Learning, which provides refurbished computer equipment to schools and educational nonprofit organizations, also help low-income communities. "Corporate partnerships, including Google and Microsoft, have entire divisions dedicated to classroom education and will provide free or deeply discounted Chromebooks, Surface Pro tablets, and software packages to these school districts," he said.<h2 id="3fe85a01-220d-47cf-95cd-5701af1a7086">The challenges of tech-driven educational tools</h2>While adaptive technology has several benefits, implementing these systems involves a lot of trial and error, and it takes effort to meet the demands of rapid feedback when adjusting or replacing apps, Price told BI."Another concern is the perception of potential limitations," Galvin said. "There's a fear that adapting to a student's current performance level might inadvertently set artificial limits on their potential. The key question is: Can these systems not only adapt to a student's current level but also accelerate their progress to close achievement gaps?"It's also difficult to change the mindset of people who believe in traditional educational models. Price said 2hr Learning hopes to address this by reframing teachers' roles as using technology to embrace students' passions while challenging the learners."The adults in the classrooms are not hand-holding or sitting next to a student but instead teaching them to be self-driven learners and helping them with resources when they are stuck," she said.

Adaptive-learning tech shows promise in helping students and teachers achieve classroom equity

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Happy Friday! Be careful what you wish for, Chipotle fans. The chain might turn to robot workers to address the complaints about its portion sizes. But good luck making those <a target="_blank" href="https://www.businessinsider.com/chipotle-portion-size-inconsistencies-robots-automation-human-employees-2024-7">last-second tweaks to your order</a>.In today's big story, Southwest ditching its unassigned seat policy is a sign of the <a target="_blank" href="https://www.businessinsider.com/the-end-of-budget-airlines-southwest-jetblue-frontier-spirit-2024-7">end times for budget airlines</a> as we know it.What's on deck:<ul><li>Markets: Goldman Sachs <a target="_blank" href="https://www.businessinsider.com/goldman-sachs-new-logo-and-website-before-and-after-2024-7">has a new logo</a>… sort of.</li><li>Tech: OpenAI basically just <a target="_blank" href="https://www.businessinsider.com/openai-searchgpt-search-engine-prototype-declares-war-with-google-2024-5">declared war on Google</a>.</li><li>Business: Pop stars got millions in pandemic aid that <a target="_blank" href="https://www.businessinsider.com/nksfb-svog-blowback-rich-musicians-pandemic-relief-2024-7">raised red flags for their accountants</a>.</li></ul>But first, that's going to cost extra.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="0642bd0e-e971-4663-bff4-7c413bf24f3d">The big story</h3><h2 id="8e8b25cf-af5c-4ba5-823b-ade7efe8b096">Seating-as-a-Service</h2><div type="image" title="seats getting more expensive" height="750" width="1500" msid="112047658" hostid="261" sizebytes="69922"></div>You are no longer free to move about the cabin.Southwest Airlines is <a target="_blank" href="https://www.businessinsider.com/southwest-is-getting-rid-of-open-seating-on-all-flights-2024-7">ending its open seating policy</a>, opting for assigned and premium seating options. It's a substantial change for the budget airline that has let passengers pick their seats after boarding since its <a target="_blank" href="https://www.businessinsider.com/southwest-airlines-history-2021-8">founding more than 50 years ago</a>.But tradition takes a backseat when the bottom line is suffering. Despite a record $7.4 billion in revenue for the second quarter, the airline's quarterly profit ($367 million) was almost cut in half compared to the same period last year.Meanwhile, activist investor Elliott Management's $1.9 billion stake in Southwest has it <a target="_blank" href="https://www.businessinsider.com/southwest-airlines-call-for-changes-new-leadership-ceo-elliott-management-2024-6">calling for big changes</a>. And the airline manufacturer Southwest relies on <a target="_blank" href="https://www.businessinsider.com/boeing-airplanes-awaiting-parts-delivery-clog-up-parking-spaces-2024-7">is going through its own crisis</a>. So yes, something had to give.A timeline on when the change will occur wasn't announced — more details are coming in September — but the impact is already estimated to be big. Between paid seat assignments and premium seating, Southwest could add as much as $3 billion in new revenue, according to one analyst.Southwest isn't alone in its struggles. Prior to the announcement, the S&amp;P 500 Passenger Airlines index was down almost 9%. The issue? Despite an influx of demand, there are simply <a target="_blank" href="https://www.businessinsider.com/airlines-united-delta-scrambling-fix-crisis-too-many-cheap-flights-2024-7">too many cheap, economy-class seats on the market</a>, writes Business Insider's Benjamin Zhang.<div type="image" title="Image of Southwest plane landing at San Diego airport." height="1280" width="1920" msid="112047667" hostid="261" sizebytes="91194"></div>The real pain of the current travel landscape is being felt by budget airlines.High labor and fuel costs are difficult to navigate for all airlines, but it's especially tricky for ones trying to do it at a much lower cost than their rivals.That's why Southwest's decision to end its open seating policy <a target="_blank" href="https://www.businessinsider.com/the-end-of-budget-airlines-southwest-jetblue-frontier-spirit-2024-7">could be a sign of the end of budget airlines</a> as we know it, writes BI's Taylor Rains and Pete Syme. The shift shows how low-budget airlines are rethinking their business models as they face an uphill battle not following their high-priced peers' footsteps.Southwest CEO Bob Jordan has been adamant these are changes customers want. But there is an undeniable financial factor to the move.Similar changes from Southwest could ultimately upend the way a good chunk of the country travels. Southwest, American, United, and Delta make up the country's Big 4 airlines. But only Southwest markets itself as a budget airline.In the meantime, you might need to start paying for that window or aisle seat on your next Southwest flight.Or don't. After all, <a target="_blank" href="https://www.businessinsider.com/airplane-middle-seat-not-bad-aisle-window-travel-2024-1">the middle seat really isn't that bad</a>.<h2 id="e7ad5a04-e409-4b8e-a5a6-9c0198f1ef94">3 things in markets</h2><div type="image" title="Photo illustration of Goldman Sachs logo changes over time" height="731" width="1300" msid="112047665" hostid="261" sizebytes="12540"></div><ol><li>New logo, who dis? Goldman Sachs is <a target="_blank" href="https://www.businessinsider.com/goldman-sachs-new-logo-and-website-before-and-after-2024-7">launching a new logo</a> that's a partial callback to a design the bank used for decades before largely retiring it in 2020. But some insiders questioned if the time and money spent on the overhaul was worth it.</li><li>The US economy had a huge second quarter. US real GDP growth was <a target="_blank" href="https://www.businessinsider.com/gdp-gross-domestic-product-second-quarter-2024-us-economy-2024-7">2.8% at an annualized rate</a>, well above the 2.0% forecast. It also doubled its growth from the first quarter (1.4%). But the "perfect report for the Fed," as it was described by one expert, likely won't lead to a rate cut next week. What's worse, it might be <a target="_blank" href="https://www.businessinsider.com/next-recession-outlook-forecast-interest-rate-cuts-sahm-rule-unemployment-2024-7">too late to avoid a recession</a>, according to one former central bank president.</li><li>This sector isn't sexy, but it's worth your investment. America's infrastructure is crumbling, and Bank of America expects an uptick in restoration and building projects in the next decade. That's a <a target="_blank" href="https://www.businessinsider.com/invest-old-school-us-crumbling-infrastructure-ai-industrials-materials-bofa-2024-7">huge growth opportunity for investors</a>.</li></ol><h2 id="62bb4334-a805-49b4-89b9-d7825f87b766">3 things in tech</h2><div type="image" title="Collage of stock prices and a broker looking at a screen." height="1500" width="3000" msid="112047659" hostid="261" sizebytes="188136"></div><ol><li>The AI hype train is still running at full tilt. Just don't ask where the profits are. Although AI enthusiasm super-powered some US equities, <a target="_blank" href="https://www.businessinsider.com/ai-hype-train-profits-valuations-startups-google-openai-2024-7">investors are starting to question Big Tech's big spending</a>. They <a target="_blank" href="https://www.businessinsider.com/big-tech-investors-wary-high-ai-spending-markets-selloff-nasdaq-2024-7">grilled Google's parent company on AI initiatives</a> and are likely to focus on it when Meta, Amazon, Apple, and Microsoft report earnings next week.</li><li>Tech can still be a lucrative career choice. Despite the industry's recent layoffs, some people have successfully made the move into tech. One former teacher broke into the field with a coding bootcamp, and <a target="_blank" href="https://www.businessinsider.com/break-into-tech-quit-teaching-coding-boot-camp-2024-7">now makes six figures</a>. Another shared the <a target="_blank" href="https://www.businessinsider.com/resume-landed-product-manager-job-microsoft-facebook-chris-hsiao-2024-7">résumé that helped him land a job at Microsoft</a>.</li><li>OpenAI is coming for Google's lunch. In a virtual declaration of war against Google, OpenAI just confirmed <a target="_blank" href="https://www.businessinsider.com/openai-searchgpt-search-engine-prototype-declares-war-with-google-2024-5">it's launching SearchGPT</a>, bringing it a step closer to its own search engine. Though just in a testing phase, the temporary product will directly compete with Google's Search Generative Experience.</li></ol><h2 id="3c244a91-acbf-4e23-8cde-90d1f2a8f4a7">3 things in business</h2><div type="image" title="Chad Kroeger, Post Malone, and Chris Brown photo collage" height="1000" width="2000" msid="112047663" hostid="261" sizebytes="256724"></div><ol><li>Behind-the-scenes worries about music stars' COVID cashouts. Los Angeles accounting firm NKSFB helped stars like Nickelback and Chris Brown secure COVID relief cash from the federal government. The stars got millions in taxpayer money — even though NKSFB initially <a target="_blank" href="https://www.businessinsider.com/nksfb-svog-blowback-rich-musicians-pandemic-relief-2024-7">fretted that they could be breaking the law</a> by applying, court documents say.</li><li>How moguls like Rupert Murdoch control their companies without owning them. The Murdoch family is headed for a fight over Fox and News Corp that would make "Succession" writers proud. Though both are publicly traded companies, they're built on a stock structure that lets one family wield enormous power. <a target="_blank" href="https://www.businessinsider.com/murdoch-moguls-media-tech-dual-class-stock-control-how-2024-7/">They're not the only ones</a>.</li><li>The US job market teeters near the "danger zone," according to a famed economist. Claudia Sahm is the creator of the highly accurate recession indicator Sahm Rule. She warned that <a target="_blank" href="https://www.businessinsider.com/recession-outlook-job-market-layoffs-unemployment-rate-hiring-economy-2024-7">the job market is in the "yellow zone"</a> as unemployment ticks higher.</li></ol><h2 id="b691d3d2-a3d7-4ee3-8890-aa84cf68a80c">In other news</h2><ul><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/barack-obama-endorses-kamala-harris-for-president-after-a-delay-2024-7">Barack Obama finally endorses Kamala Harris</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/real-estate-investors-experts-passive-income-long-term-rental-properties-2024-7">Real estate investors weigh in on how passive rental income really is: 'It's like having an expensive puppy.'</a></li><li><a target="_blank" href="https://www.businessinsider.com/lululemon-breezethrough-leggings-criticized-pulled-stock-plunged-tiktok-youtube-reviews-2024-7">Lululemon just released new leggings. Shoppers and shareholders are mad.</a></li><li><a target="_blank" href="https://www.businessinsider.com/how-donald-trump-could-replace-jd-vance-vice-president-poll-2024-7">How Trump could replace JD Vance if the Ohioan's terrible polling continues</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/mybeasts-friend-accused-of-messaging-minors-steps-away-from-channel-2024-7">One of MrBeast's oldest friends quit his operation in a scandal. It could hurt him too</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/quiet-vacation-mouse-jiggler-quiet-quitting-2024-7">I'm a quiet vacationer. Here's how I used a mouse jiggler to take a monthlong trip to Italy without telling my boss</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/donald-trump-fbi-christopher-wray-bullet-assassantion-attempt-shrapnel-2024-7">FBI director says there is 'some question' whether Trump was hit with a bullet or shrapnel</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/sam-altman-strategy-china-competition-2024-7">Sam Altman says the US has to do 4 things to prevent China from taking the AI throne</a>.</li></ul><h2 id="265f2581-0e55-4ab6-8ce7-1a67b2d79f37">What's happening today</h2><ul><li>Donald Trump meets with Israeli prime minister Benjamin Netanyahu at Mar-a-Lago.</li><li>Paris Olympics Opening Ceremony.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Annie Smith, associate producer, in London. Amanda Yen, fellow, in New York.

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