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<ul class="summary-list"><li><em>This post originally appeared in the Insider Today newsletter.</em></li></ul><p><strong><span>Hello there! </span></strong><span>How rich is Elon Musk? If things keep heading in the right direction for the Tesla CEO, he'll become the world's first trillionaire by 2027. </span><a target="_blank" href="https://www.businessinsider.com/elon-musk-trillionaire-first-2027-tesla-wealth-money-2024-9"><u><span>And a few others aren't far behind</span></u></a><span>.</span></p><p>In today's big story, it's a <a target="_blank" href="https://www.businessinsider.com/trump-harris-presidential-debate-preview-2024-9"><u>presidential showdown in Philadelphia</u></a>. But some people on Wall Street are already fed up.</p><p><strong>What's on deck:</strong></p><ul><li><strong><span>Markets:</span></strong> Higher education meant higher returns <a target="_blank" href="https://www.businessinsider.com/wall-street-private-equity-billions-college-students-for-profit-college-2024-9"><u>for one corner of Wall Street</u></a>.</li><li><strong><span>Tech:</span></strong> Everything you want to know about <a target="_blank" href="https://www.businessinsider.com/apple-event-iphone-16-announcement-live-updates-2024-9"><u>the newest Apple gadgets that just got announced</u></a>.</li><li><strong><span>Business:</span></strong> Starbucks' new CEO just started, which could mean <a target="_blank" href="https://www.businessinsider.com/new-starbucks-ceo-brian-niccol-could-change-c-suite-menu-2024-8"><u>big changes to the coffee chain</u></a>.</li></ul><p><span>But first, you have two minutes, and your time starts now.</span></p><p><strong><em>If this was forwarded to you, </em></strong><a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today"><strong><em><u>sign up here.</u></em></strong></a></p><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097"><strong><span>Let's debate</span></strong></h2><div type="image" title="A crowd of people watching Donald Trump and Kamala Harris on TV" height="1000" width="2000" msid="113231925" hostid="261" sizebytes="163930"></div><p><strong><span>Kamala Harris and Donald Trump will face off on the debate stage tonight, exactly eight weeks before their official showdown on the ballot.</span></strong></p><p><span>The debate, which will be held in Philadelphia and starts at 9 p.m. ET, will be the first time the vice president and former president meet in person. Business Insider's Brent D. Griffiths has a rundown on </span><a target="_blank" href="https://www.businessinsider.com/trump-harris-presidential-debate-preview-2024-9"><u><span>everything you need to know heading into tonight</span></u></a><span>.</span></p><p><span>It's a high-stakes showdown, as Harris' emergence has turned </span><a target="_blank" href="https://www.businessinsider.com/steve-eisman-donald-trump-2024-election-prediction-kamala-harris-biden-2024-9"><u><span>what once may have seemed</span></u></a><span> like a surefire Trump win </span><a target="_blank" href="https://www.businessinsider.com/harris-trump-momentum-presidential-race-debate-polls-2024-9"><u><span>into essentially a dead heat</span></u></a><span>, writes BI's John L Dorman. A newly released Times/Siena poll shows Trump holding just a one-point advantage over Harris among likely voters.</span></p><p><span>So, what's the game plan for the candidates?</span></p><p><span>For Trump, the focus will likely be the economy, which is a high priority for voters and also a sore spot for Harris. The latest Times poll showed Trump (55%) held a big advantage over Harris (42%) regarding who would be better equipped to handle the economy.</span></p><p><span>And, in typical Trump fashion, expect some name-calling. ("Communist" is his go-to jab for Harris.) Trump will also likely target Harris' </span><a target="_blank" rel="noopener" href="https://www.businessinsider.com/trump-harris-debate-strategy-close-election-response-matters-2024-9"><u><span>biggest vulnerabilities</span></u></a><span>, which may include trying to define her shifting views as disingenuous flip-flops, Brent writes.</span></p><p><span>Harris, meanwhile, will look to establish some of her own economic plans. She recently added a </span><a target="_blank" href="https://www.businessinsider.com/harris-added-policy-website-before-trump-debate-venture-capital-startups-2024-9"><u><span>policy page to her campaign website</span></u></a><span> and has shown a willingness to break from the current administration. Her 28% capital gains tax rate for Americans who make at least $1 million is lower than the White House's proposed 39.6%.</span></p><p><span>As someone who's </span><a target="_blank" href="https://www.businessinsider.com/brat-summer-politicians-charli-xcx-kamala-harris-social-media-2024-7"><u><span>no stranger to an internet meme</span></u></a><span>, Harris will also look to secure a viral moment from the debate.</span></p><div type="image" title="Photo illustration of Kamala Harris and Donald Trump" height="750" width="1000" msid="113231921" hostid="261" sizebytes="44240"></div><p><strong><span>But for some, Tuesday represents just another distraction.</span></strong></p><p><span>The constant fighting between both sides has become </span><a target="_blank" rel="noopener" href="https://www.businessinsider.com/hedge-fund-investors-worried-politics-are-distracting-managers-2024-9"><u><span>more of a headache than anything else for some Wall Streeters</span></u></a><span>, writes BI's Bradley Saacks.</span></p><p><span>The finance industry has plenty of </span><a target="_blank" href="https://www.businessinsider.com/wall-street-political-contributions-by-name-for-trump-vs-harris-2024-8"><u><span>outspoken people voicing support — and pledging donations — to both sides</span></u></a><span>. But for investors, private equity and hedge fund managers, jumping into the fray just means less time spent managing their money.</span></p><p><span>It's not unlike the sentiment coming from some in Silicon Valley. Constant bickering over the election </span><a target="_blank" href="https://www.businessinsider.com/election-a-distraction-silicon-valley-wants-to-be-over-2024-8"><u><span>has some frustrated</span></u></a><span>, especially at a time when plenty of VCs and startups are struggling.</span></p><p><span>To be sure, people on both sides might argue that mindset is a privilege. Some don't have the luxury of ignoring an election with so much at stake.</span></p><p><span>And that's not to say everyone in tech and finance is apathetic toward the election. BI's Alice Tecotzky spoke to industry leaders </span><a target="_blank" href="https://www.businessinsider.com/harris-trump-debate-silicon-valley-crypto-regulation-ai-taxes-2024-9"><u><span>who highlighted what they'll be watching tonight</span></u></a><span>.</span></p><h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li>SpaceX launches 4 people, including a billionaire, on the <a target="_blank" rel="noopener" href="https://www.businessinsider.com/spacex-polaris-dawn-mission-launch-2024-8"><u>most ambitious private human spaceflight yet</u></a>.</li><li>Developer Michael Shvo plans bulk sale of <a target="_blank" href="https://www.businessinsider.com/michael-shvo-beverly-hills-condo-project-default-luxury-2024-9"><u>Mandarin Oriental condos after default</u></a>.</li><li>Ukraine started this year on the brink of disaster. <a target="_blank" href="https://www.businessinsider.com/ukraine-started-year-brink-disaster-lot-changed-experts-russia-kursk-2024-9"><u>A lot has changed since</u></a>.</li><li>Apple just lost a decadelong EU tax case. <a target="_blank" rel="noopener" href="https://www.businessinsider.com/apple-pay-back-taxes-eu-court-case-decision-2024-9"><u>Now it must pay $14 billion.</u></a></li><li>Kate Middleton says she has completed chemotherapy and is <a target="_blank" href="https://www.businessinsider.com/kate-middleton-finished-chemotherapy-announcement-2024-9"><u>doing what she can to 'stay cancer free'</u></a>.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="The Wall Street Bull ready to charge at a business man holding a graduation cap as a red cloth" height="1000" width="2000" msid="113231928" hostid="261" sizebytes="146536"></div><ol><li><strong><span>Wall Street went to higher ed, and students paid the price.</span></strong><span> When private equity got involved with for-profit colleges, the profits were huge. But two groups were left out of the bonanza: the public, whose tax dollars kept the machine running, and the </span><a target="_blank" href="https://www.businessinsider.com/wall-street-private-equity-billions-college-students-for-profit-college-2024-9"><u><span>students who got sacked with the bill</span></u></a><span>.</span></li><li><strong><span>China's economy shows signs of hope. </span></strong><span>It hasn't been pretty for the world's second-biggest economy, but the tides could be turning. Goldman Sachs' chief China economist said a number of factors (fiscal easing, strong export momentum) point toward the country </span><a target="_blank" href="https://www.businessinsider.com/china-economy-outlook-growth-exports-weather-fiscal-policy-goldman-sachs-2024-9"><u><span>breaking out of its slump this fall</span></u></a><span>.</span></li><li><strong><span>Cleared for a (soft) landing. </span></strong><span>Apollo chief economist Torsten Sløk believes all the data </span><a target="_blank" href="https://www.businessinsider.com/us-economy-outlook-data-points-to-soft-landing-no-recession-2024-9"><u><span>points toward the US economy avoiding a recession</span></u></a><span>. From wage growth to consumer spending, the key indicators are a good sign for the US.</span></li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b"><strong>3 things in tech</strong></h2><div type="image" title="A blue iPhone partially hidden under a red cloth." height="1500" width="2000" msid="113231923" hostid="261" sizebytes="158252"></div><ol><li><strong><span>It's Glowtime, baby.</span></strong><span> At Apple's "Glowtime" event, CEO Tim Cook unveiled the new iPhone 16, but its features seemed </span><a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/apple-iphone-16-with-ai-seems-boring-could-be-good-2024-9"><u><span>more understated than the hype around the launch</span></u></a><span>. And if you're wondering if your old iPhone will still work with Apple's new iOS 18, </span><a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/iphone-compatible-ios-18-apple-ai-2024-9"><u><span>the answer is all about AI</span></u></a><span>. For all of the announcements, </span><a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/apple-event-iphone-16-announcement-live-updates-2024-9"><u><span>read BI's liveblog of the event</span></u></a><span>.</span></li><li><strong><span>How a VC uses AI to help startups.</span></strong><span> VC firm TRAC uses an </span><a target="_blank" href="https://www.businessinsider.com/ai-dashboard-vc-firm-trac-deals-level-up-founders-legacy-2024-9"><u><span>AI dashboard to help its startups</span></u></a><span> raise new funding, allowing companies to reach more accurate valuations and compare themselves to competitors. "It helps us get into every deal we want to get into," TRAC's founder said of the software.</span></li><li><strong><span>Justice for Bing users.</span></strong><span> Some 20 years after it earned a place in the Merriam-Webster dictionary, "Google" is losing its status as a verb. Gen Zers and especially Gen Alphas </span><a target="_blank" href="https://www.businessinsider.com/google-losing-status-as-verb-genz-2024-9"><u><span>aren't "googling" anything</span></u></a><span>, preferring the more brand-neutral term "searching" instead.</span></li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216"><strong>3 things in business</strong></h2><div type="image" title="A Chinese flag on a bitcoin facility next to US farmland." height="1500" width="2000" msid="113231929" hostid="261" sizebytes="104262"></div><ol><li><strong><span>Bitcoin takes a bite out of small-town America.</span></strong><span> Kicked out of China, bitcoin miners set up shop in small, economically stalled towns in America. Their expansion </span><a target="_blank" href="https://www.businessinsider.com/china-bitcoin-mines-american-electricity-china-crypto-ban-energy-crisis-2024-9"><u><span>poses great risks</span></u></a><span> to both the global climate crisis and the US' economic tension with China.</span></li><li><strong><span>How the ex-Chipotle chief could shake up Starbucks.</span></strong><span> Brian Niccol just started as the CEO of the coffee chain, which is in dire need of a turnaround. He hasn't been vocal about his plans for the business — but analysts have some ideas about </span><a target="_blank" href="https://www.businessinsider.com/new-starbucks-ceo-brian-niccol-could-change-c-suite-menu-2024-8"><u><span>things he might change</span></u></a><span>.</span></li><li><strong><span>It's just good business, they say.</span></strong><span> More countries are openly flaunting their ties with Russia as Putin seeks to end the country's diplomatic isolation. Despite sanctions over its invasion with Ukraine, Russia remains a key global economy and energy supplier — </span><a target="_blank" href="https://www.businessinsider.com/russia-economy-asia-countries-flaunt-russia-putin-diplomacy-relationship-brics-2024-9"><u><span>and it's wooing the Global South</span></u></a><span>.</span></li></ol><h2 id="1ad7b482-3f4b-44b4-81b6-a864aa386478"><strong>In other news</strong></h2><ul><li>Many grandmothers provide regular childcare for their grandkids. <a target="_blank" href="https://www.businessinsider.com/im-not-bad-grandma-because-i-dont-babysit-grandchildren-2024-9"><u>I refuse to do that, and I'm not a bad grandma</u></a>.</li><li>When you work from home it's tempting to skip your lunch break. Workplace experts say it could <a target="_blank" href="https://www.businessinsider.com/work-from-home-lunch-experts-broken-not-take-breaks-2024-9"><u>harm your longevity and drain your social battery</u></a>.</li><li>I've worked at Costco for 19 years. <a target="_blank" href="https://www.businessinsider.com/best-things-at-costco-this-month-employee-reveals-2024-9"><u>Here are 10 of the best things I'm seeing on the shelves this month</u></a>.</li></ul><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff"><strong>What's happening today</strong></h2><ul><li>Andrew Cuomo testifies at a House select subcommittee on the coronavirus pandemic.</li><li>Arab League foreign ministers meet in Cairo, with agenda focusing on Israel-Hamas conflict and humanitarian situation in Gaza.</li></ul><p><strong>The Insider Today team: </strong><span>Dan DeFrancesco, deputy editor and anchor, in New York. Hallam Bullock, senior editor, in London. Milan Sehmbi, fellow, in London. Amanda Yen, fellow, in New York.</span></p>

Harris and Trump face off for the first time tonight, but some corners of the business world are already over it

<ul><li>A new analysis by Comparisun shows that Amazon founder, Jeff Bezos, will be the first billionaire to turn into a trillionaire by 2026 at the age of 62.</li><li>Mark Zuckerberg could be world’s youngest trillionaire at the age of 51 by 2036.</li><li>India’s richest man, Mukesh Ambani, will only become a trillionaire by 2033 when he will be 75 years old.</li></ul>Amazon’s Jeff Bezos is the richest man in the world with a net worth of $107.1 billion. Not only was he the first to ever hit the $100 billion mark, but he might be the first individual to reach the coveted $1 trillion mark.<br /><br />Using historical valuations of the world’s richest individuals, <a href="https://www.comparisun.com/resources/the-trillion-dollar-club/">Comparisun</a> — a content and comparison platform — calculated the time taken by the world’s richest to make their first trillion. <br /><br />The company used average yearly percentage growth over the last five years and applied to each future year to predict how each individual’s net worth would change.<br /><br />Among the 25 richest men in the world, only 11 stand a chance of becoming trillionaires within their lifetimes.<br /><br />Here's counting down the full list of billionaires who will become trillionaires and when they’ll hit their mark:<br />

Here’s how long it will take the world’s richest billionaires to become trillionaires

<ul class="summary-list"><li><keyword id="191583" type="PERSON" weightage="60" keywordseo="Jeff-Bezos">Jeff Bezos</keyword> could become the world's first trillionaire by 2026 if his wealth continues growing at the 34% rate it has in recent years, according to an analysis from <a href="https://www.comparisun.com/resources/the-trillion-dollar-club/">Comparisun</a>.</li><li>That's before accounting for the coronavirus pandemic, which has sent the value of his <keyword id="18635" type="CITY" weightage="60" keywordseo="Amazon">Amazon</keyword> shares soaring, and despite the roughly $38 billion he lost in his recent divorce settlement.</li><li>Bezos is currently worth an estimated $143 billion, thanks to a $28 billion bump in 2020, according to <a href="https://www.bloomberg.com/billionaires/">Bloomberg</a>.</li><li>Bezos' wealth is growing rapidly as Amazon faces increasing criticism from <a href="https://www.businessinsider.com/amazon-walmart-fedex-target-instacart-whole-foods-workers-strike-coronavirus-2020-4">employees</a> and <a href="https://www.businessinsider.com/rashida-tlaib-debbie-dingell-amazon-warehouse-investigation-2020-5">lawmakers</a> over its labor practices, and as the company <a href="https://www.businessinsider.com/amazon-dropping-covid-19-hazard-pay-warehouse-workers-may-2020-5">ended its $2 hourly pay raise</a> for warehouse workers during the pandemic.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul><p>If Jeff Bezos' personal fortune keeps growing at its current rate, he could become the world's first trillionaire by 2026 at the age of 62, according to an analysis from software review site <a href="https://www.comparisun.com/resources/the-trillion-dollar-club/">Comparisun</a>.</p><p>Bezos' wealth has been increasing at an average yearly rate of 34% over the past five years, according to Comparisun, and that's despite turning over Amazon shares <a href="https://www.businessinsider.com/jeff-mackenzie-bezos-divorce-official-settlement-38-billion-2019-7">worth an estimated $38 billion</a> to his ex-wife, MacKenzie Bezos, as part of their recent divorce settlement.</p><p>Comparisun looked at 25 of the world's richest individuals and found that only 11 had a realistic shot at becoming trillionaires during their lifetime. Bezos will likely get there first, but Facebook CEO Mark Zuckerberg could be the youngest, with his current growth rate on pace to put him in the four-comma club by 2036, when he would be 51.</p><p><div type="image" title="comparisun trillionaires bezos" height="841" width="1000" msid="75747162" hostid="261"></div></p><p>Comparisun used <a href="https://www.forbes.com/billionaires/#4151f939251c">Forbes' Billionaire List</a> to determine Bezos' personal wealth, but it pulled data from September 2019, meaning its analysis also doesn't account for gains Bezos has seen during the coronavirus pandemic, which has caused Amazon's stock to skyrocket as more people turn to online shopping.</p><p>Bezos is currently worth around $138 billion and has seen his fortune grow by $28.3 billion so far in 2020, according to <a href="https://www.bloomberg.com/billionaires/">Bloomberg</a>.</p><p>Bezos isn't alone there. While the coronavirus has ravaged the economy, forcing <a href="https://www.businessinsider.com/us-weekly-jobless-claims-unemployment-filings-recession-labor-market-coronavirus-2020-5">36 million Americans</a> to file for unemployment over the past two months, US billionaires quickly saw their collective wealth rebound by $282 billion, roughly 9.5%, between March 18 (close to when the stock market hit its low point) and April 10, according to a report from the <a href="https://ips-dc.org/wp-content/uploads/2020/04/Billionaire-Bonanza-2020.pdf">Institute for Policy Studies</a>.</p><p>At the same time Amazon's success continues to boost Bezos' personal fortune, the company is facing growing criticism of its treatment of workers during the pandemic, including its recent move to <a href="https://www.businessinsider.com/amazon-dropping-covid-19-hazard-pay-warehouse-workers-may-2020-5">drop a $2 per hour pay raise</a> for warehouse employees. Workers have staged <a href="https://www.businessinsider.com/amazon-walmart-fedex-target-instacart-whole-foods-workers-strike-coronavirus-2020-4">multiple protests</a> over <a href="https://www.businessinsider.com/amazon-fires-warehouse-worker-led-strike-protest-covid19-cornavirus-response-2020-3">working conditions</a> in recent weeks as the number of COVID-19 cases <a href="https://www.businessinsider.com/workers-say-amazon-hasnt-shared-full-covid-19-cases-with-employees-2020-4">potentially surpassing 400</a> (Amazon has refused to share official numbers).</p><p>Lawmakers and regulators are also turning a closer eye on the company. <a href="https://www.businessinsider.com/nyc-mayor-orders-investigation-amazon-warehouse-worker-firing-coronavirus-protest-2020-3">Officials in New York City</a> and the <a href="https://www.businessinsider.com/amazon-nlrb-inquiries-workers-protests-coronavirus-warehouse-conditions-2020-4">National Labor Relations Board</a> are both looking into Amazon's firing of whistleblowers, while Democratic lawmakers recently <a href="https://www.businessinsider.com/rashida-tlaib-debbie-dingell-amazon-warehouse-investigation-2020-5">called for a federal investigation</a> into warehouse conditions.</p>Read the original article on <a href="https://www.businessinsider.com/jeff-bezos-on-track-to-become-trillionaire-by-2026-2020-5">Business Insider</a>

Jeff Bezos is on track to become a trillionaire by 2026 — despite an economy-killing pandemic and losing $38 billion in his recent divorce

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Mario Tama/Getty Images</span></p></div><p></p></div></div>Jeff Bezos may be $910.7 billion away from becoming the world's first trillionaire, but research suggests he's closer than some might think.</p><p>A recent Oxfam report on wealth and inequality, entitled <a href="https://www.oxfam.org/sites/www.oxfam.org/files/file_attachments/bp-economy-for-99-percent-160117-en.pdf">"An economy for the 99%,"</a> found super-rich people like Bezos, Bill Gates, and Warren Buffett have seen their wealth collectively grow by huge margins over the last decade. Within the next 25 years, Bezos' wealth could jump like never seen before.</p><p>According to Oxfam's report, there were 793 billionaires worldwide in 2009. Added up, their net worths totaled $2.4 trillion. By 2016, the richest 793 people maintained net worths of $5 trillion - an annual growth of 11%.</p><p>"If these returns continue, it is quite possible that we could see the world's first trillionaire within 25 years," the report stated.</p><p>In other words, Oxfam estimates that if trends hold, Bezos - whose momentary net worth of $92.3 billion briefly <a href="http://www.forbes.com/billionaires/list/#version:realtime">led the pack</a> on Bloomberg's Billionaire Index on Thursday, before <a href="https://www.theverge.com/2017/7/27/16052792/amazon-q2-2017-earnings-jeff-bezos-worlds-richest-person-title">Gates reclaimed</a> the top spot - could stand alone on future lists of "The World's Trillionaires."</p><p>The question that remains is whether either of the two men will try to keep increasing their wealth or <a href="http://www.businessinsider.com/jeff-bezos-richest-person-philanthropy-2017-7">put a chunk of it toward</a> philanthropic efforts. Gates, at least, doesn't seem to want the "world's first trillionaire" distinction. Since leaving Microsoft in 2006, he has devoted his time and resources to eradicating infectious disease and improving education worldwide through the Bill and Melinda Gates Foundation.</p><p>In partnership with Warren Buffett, Gates and his wife <a href="http://www.businessinsider.com/billionaires-giving-away-their-money-2015-10/#warren-buffett-pledged-to-give-away-more-than-99-of-his-riches-and-has-already-donated-over-215-billion-4">have created the Giving Pledge</a> for other billionaires who want to help public causes by giving away part or most of their fortunes.</p><p>Bezos, meanwhile, has made no such commitments. He hasn't signed the Giving Pledge and doesn't involve himself with the Bezos Family Foundation, which his parents run. Recently, he <a href="https://twitter.com/JeffBezos/status/875418348598603776">made an open call on Twitter</a> for ways to make lasting impact through short-term philanthropy, but he hasn't announced that he'll be pursuing any particular ideas.</p><p>Bezos' greatest efforts to create social change have come through his business ventures. It was evident in his buying The Washington Post in 2013, as he <a href="http://www.businessinsider.com/how-the-washington-post-changed-after-jeff-bezos-acquisition-2016-5">quickly turned it</a><span> into a lean, digital journalism powerhouse - something other large news organizations have struggled to do. Similarly, Amazons <a href="http://www.businessinsider.com/jeff-bezos-is-close-to-overtaking-bill-gates-as-worlds-richest-person-2017-6">agreement</a> to buy Whole Foods may hint at Bezos' desire to reinvent the food industry's supply chain. (At the very least, he <a href="https://www.forbes.com/sites/michelinemaynard/2017/06/22/alice-waters-advice-to-jeff-bezos-revolutionize-whole-foods/#8d7ae0d3739c">has the opportunity</a><span> to do so.)</span></span></p><p>As Oxfam suggests, Bezos may beat Gates in the race to 13 digits because wealth is incredibly hard to shrink once someone is so rich that spending is no longer an option. It's doubly easier for someone like Bezos, who is still actively trying to grow richer.</p><p>"The super-rich can achieve returns that are not available to the ordinary saver," the report stated, "helping the gap to grow between the wealthy and everyone else."</p>     <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/bill-gates-deadly-epidemic-real-possibility-not-prepared-davos-wef-2017-1">BILL GATES: A deadly epidemic is a real possibility and we are not prepared</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="swYnEwOTE6iz9rCfYINf3tu_SdfSyZsA" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Jeff Bezos could be the world's first trillionaire by 2042

<ul class="summary-list"><li>Martha Stewart became the oldest woman to grace the cover of Sports Illustrated's Swimsuit Issue. </li><li>Her best friend Snoop Dogg told Insider she was "thirst trapping" during the photo shoot. </li></ul><p><a href="https://www.insider.com/martha-stewart-sports-illustrated-swimsuit-cover-2023-5">Martha Stewart made history</a> when she became the oldest woman to grace the cover of Sports Illustrated's Swimsuit Issue earlier this year, and Snoop Dogg had high praise for his best friend's photo shoot. </p><p>Insider recently sat down with Snoop Dogg to discuss his new collaboration with <a href="https://affiliate.insider.com?h=6a8cb884d77dca5294e7ed54e9ad704cc7146cddf7a9cfa0563802830ed97f77&amp;postID=651b8b6b23b6903d6ac900ea&amp;postSlug=snoop-dogg-praises-martha-stewart-sports-illustrated-swimsuit-cover-2023-10&amp;site=in&amp;u=https%3A%2F%2Fwww.grubhub.com%2F" target="_blank" rel="noopener">Grubhub</a>, as well as <a href="https://www.insider.com/best-lobster-dish-that-snoop-dogg-taught-martha-stewart-2020-7">his famous BFF</a>. And the rapper was definitely impressed with Stewart's cover-girl moment. </p><p>"She was thirst trapping!" Snoop Dogg said with a laugh. "I said, 'Martha, you playing games right now — you thirst trappin'. You go girl." </p><p>"I mean, I couldn't believe it," he added. "I had to call her and say, 'Martha, what's gotten into you? Or who's gotten into you?'" </p><div type="image" title="Martha Stewart posing for the cover of Sports Illustrated Swimsuit Issue while wearing a white, open-front swimsuit and an orange shawl." height="1350" width="1036" msid="104139485" hostid="261" sizebytes="135660"></div><p>Stewart's first thirst trap — a pool selfie that <a href="https://www.insider.com/martha-stewart-said-her-pool-selfie-was-actually-an-accident-2020-11">she said was a total accident</a> — went viral in July 2020. She's since shared a number of sultry shots, and was excited to show off her skills on the cover of Sports Illustrated. </p><p>"I thought, 'I can do this. I don't have to give in to convention,'" she told <a href="https://www.nytimes.com/2023/05/15/style/martha-stewart-sports-illustrated-cover.html?searchResultPosition=1" target="_blank" rel="noopener">The New York Times</a> in May. </p><p>Stewart, who turned 82 in August, got her first-ever spray tan and went to Pilates three times a week to prepare for the shoot.</p><p>"I had two months, basically, to make sure I felt good enough about the way I look," she told The Times. </p><p>"I had to make sure I was ready to pose in a bathing suit. It took a bit of vanity but also a bit of confidence," she added. "I thought, 'If I'm feeling good enough physically and mentally to do such a thing, I'm up for it.'"</p><div type="image" title="Martha Stewart pool selfie" height="868" width="950" msid="104139487" hostid="261" sizebytes="34200"></div><p><a href="https://www.insider.com/snoop-dogg-wont-look-at-martha-stewarts-thirst-trap-photos-2023-6">Stewart may now be the thirst-trap queen</a>, but Snoop Dogg told Insider that he tries to scroll past any image of Stewart "on the Instagram page looking like that."</p><p>"That's a lane we both stay out of," he said with a laugh.</p><p>Snoop also revealed that he has <a href="https://www.insider.com/snoop-dogg-martha-stewart-dating-2023-9">no plans to play matchmaker to Stewart</a> anytime soon. </p><p>"She's picky," he told Insider. "I wouldn't dream of trying to set her up unless I met a fucking trillionaire. I don't want that on my record that I brought somebody that she can't stand. No way." </p><p>When Snoop Dogg isn't whipping up something in the kitchen — or enjoying <a href="https://www.insider.com/martha-stewart-snoop-dogg-best-dish-2023-7#:~:text=Snoop%20Dogg%20told%20Insider%20the,to%20make%20was%20Lobster%20Newburg.">one of Stewart's dishes</a> — he's working with Grubhub. His song "Did Somebody Say" will feature in a new commercial for the food ordering and delivery platform, as well as the #DidSomebodySayGrubhub sweepstakes taking place on <a href="https://www.instagram.com/p/CxvPLQ5u-F2/" target="_blank" rel="noopener">Grubhub's social media</a> pages.</p>

Snoop Dogg said Martha Stewart was 'thirst trapping' on her Sports Illustrated Swimsuit Issue cover

<ul class="summary-list"><li>Charlie Munger discussed his regrets and shared life lessons during his final TV interview.</li><li>Warren Buffett's late business partner talked sports, fishing, teenage vices, and Alibaba.</li></ul><p>Charlie Munger tackled topics ranging from his teenage vices to the secrets of Berkshire Hathaway's success in his final TV interview, released in full this week.</p><p>Warren Buffett's late business partner and Berkshire's vice chairman, who died aged 99 last week, touched on everything from Alibaba and fishing to sports and psychology in his <a href="https://buffett.cnbc.com/video/2023/12/05/charlie-mungers-final-cnbc-interview.html" target="_blank" rel="noopener">conversation with CNBC</a>. He also suggested that he could have been a trillionaire if he'd worked harder and smarter.</p><h2>Here are Munger's 18 best quotes from the interview, lightly edited for length and clarity:</h2><p>1. "I bought the complete writings of Sigmund Freud from the area library. It was one big book. And I went through it very laboriously. And I realized he was a goddamn lunatic."</p><p>2. "I tried to learn to smoke so I could be a cool kid like the other kids in high school. I tried to ruin my life, but it nauseated me. And so I said, 'The hell with this.'"</p><p>3. "There were enough alcoholics and near-alcoholics in my own family that made me worry about liquor. I was always very cautious about drinking any liquor. Now, I did occasionally get drunk and throw up. That gave me the nausea which enabled me to give up liquor."</p><p>4. "I drink Diet Coke. I'm sure it shortens my life a little. But I don't give a damn about the last week of lying there unconscious; it's only the good part of life I want anyway. Diet Coke may be helping me skip it. But who knows? It's helping me skip the last month, not the first month."</p><p>5. "My game in life was always to avoid all standard ways of failing. You teach me the wrong way to play poker and I will avoid it. You teach me the wrong way to do something else, I will avoid it. I've avoided a lot because I'm so cautious."</p><p>6. "We got a little less crazy than most people, and a little less stupid than most people, and that really helped us. Then in addition, we were given this much longer time to run than most people, because something kept us alive into our 90s. Those are the two things that really happened." (Munger was asked about the secret to Berkshire's success.)</p><p>7. "The main trick that Berkshire shows is the power of what I call the Wooden effect. Wooden was the most famous basketball coach of a whole era. He concentrated about 90% of the playing time in seven players. That turned out to be a great system for winning at basketball; you learn by playing in a way you can never learn just by shooting practice baskets." (Munger was referring to Berkshire concentrating the vast majority of its funds in its very best bets like Coca-Cola and American Express.)</p><p>8. "We need something big to come along, and use up all our cash, and some borrowing. But who's more likely to find something than a guy who has $160 billion in cash, plus a long history of buying bargains?" (Munger was referring to Berkshire's current cash pile and its struggle to find compelling acquisitions in recent years.)</p><p>9. "My worst trade was buying a block for the Munger family in Alibaba, which is a pretty good company. But I think it got overhyped, and Jack Ma made mistakes in dealing with the Chinese government. Everybody has some bad ones. The greatest tennis player goes out there some days to the center court and has a bad day. It happens."</p><p>10. "I'm not all that pleased. I basically screwed up. I could have done a lot better if I had been a little smarter, a little quicker. I might have had multiple trillions instead of multiple billions. I do think about what I missed by being just not quite smart enough or hardworking enough."</p><p>11. "We both watched our friends who got rich build these really fancy houses. In practically every case, they made the person less happy, not happier. Having a really fancy house, it's good for entertaining 100 people at once. It's a very expensive thing to do. And it doesn't do you that much good. I decided not to live a life where I look like the Duke of Westchester or something. I didn't think it would be good for the children."</p><p>12. "I am very good at learning things from dead people." (Munger was a voracious reader who counted Benjamin Franklin among his role models.)</p><p>13. "Do not live your life in such a fashion that a bad day can kill you." (Munger meant that investors should never bet so heavily and take on so much leverage that they can lose it all if a trade goes wrong.)</p><p>14. "It's like a hitter at baseball who tries to hit a home run on every pitch. The great home runners do not remotely swing at every pitch. They wait for one that they can really handle. And that's what great stock traders do too."</p><p>15. "You only get a few trips to the pie counter. If you take out of Warren Buffett's life the <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-annual-shareholder-letter-coke-amex-buybacks-taxes-earnings-2023-2">10 most important trips</a> to the pie counter, his whole record would look like dung. We knew enough to take a good helping when we were offered a trip to the pie counter."</p><p>16. "Now, we did take way smaller a helping than we could've easily handled. Berkshire could easily be worth twice what it is now. And the extra risk we would've taken would've been practically nothing. All we had to do is just a little more leverage that was easily available. The reason we didn't is the idea of disappointing a lot of people who had trusted us." (Munger was referring to Berkshire's shareholders.)</p><p>17. "I am so old and weak compared to what I was when I was 96, that I no longer want to catch a 200-pound tuna. It's just too goddamn much work to get it in. It takes too much physical strength. So I would have paid any amount to catch a 200-pound tuna when I was younger; I never caught one. And now if given the opportunity, I would just decline going. I won't even go out after them. There are things you give up with time." (Munger was asked if there was anything he didn't tick off his bucket list.)</p><p>18. "I basically believe in the soldier on system. Lots of hardship will come and you've got to handle it well by soldiering through. A few rare opportunities will come. You've got to learn how to recognize them when they come, and not make too minor of a trip to the pie counter when the opportunity is available."</p>

Legendary investor Charlie Munger shared his regrets, mistakes, and life lessons in his final TV interview. Here are the 18 best quotes.

<ul class="summary-list"><li>Senator <keyword id="11896860" type="UNKNOWN" weightage="60" keywordseo="bernie-sanders" source="Orion">Bernie Sanders</keyword> published an op-ed saying <keyword id="6360409" type="UNKNOWN" weightage="60" keywordseo="nasa" source="Orion">NASA</keyword> overly subsidizes private <keyword id="11895441" type="UNKNOWN" weightage="60" keywordseo="space" source="Orion">space</keyword> companies.</li><li>He took particular aim at <keyword id="11908742" type="UNKNOWN" weightage="60" keywordseo="blue-origin" source="Orion">Blue Origin</keyword> and <keyword id="11908743" type="UNKNOWN" weightage="60" keywordseo="spacex" source="Orion">SpaceX</keyword>, which are owned by <keyword id="11908741" type="UNKNOWN" weightage="60" keywordseo="jeff-bezos" source="Orion">Jeff Bezos</keyword> and <keyword id="11897862" type="UNKNOWN" weightage="60" keywordseo="elon-musk" source="Orion">Elon Musk</keyword>.</li></ul><p>Senator Bernie Sanders has come out swinging against the amount of money that NASA pays to Jeff Bezos' and Elon Musk's private space exploration companies in an op-ed piece for <a href="https://www.theguardian.com/commentisfree/2022/apr/22/jeff-bezos-space-elon-musk-billionaires-bernie-sanders?CMP=fb_a-technology_b-gdntech">The Guardian</a>.</p><p>Sanders argues that US taxpayer dollars are being used to overly subsidize private space exploration firms including Bezos' Blue Origin and Musk's SpaceX through lucrative NASA contracts.</p><p>"I am concerned that NASA has become little more than an ATM machine to fuel a space race not between the US and other countries, but between the two wealthiest men in America – Elon Musk and Jeff Bezos, who are worth more than $450bn combined," Sanders wrote.</p><p>At time of writing Musk's net worth clocks in at $260 billion while Bezos' stands at $173 billion, according to the <a href="https://www.bloomberg.com/billionaires/">Bloomberg Billionaires Index</a>. The two billionaires have a long history of <a href="https://www.businessinsider.com/jeff-bezos-elon-musk-rivalry-history-timeline-2020-7?r=US&amp;IR=T">sparring with each other over their competing space ventures</a>.</p><p>Sanders specifically took issue with an additional fund that Congress is debating which would add an <a href="https://www.politico.com/news/2022/03/31/bernie-sanders-jeff-bezos-moon-plans-00022035">extra $10 billion</a> to NASA's moon lander budget. Sanders referred to the proposed provision as a "bailout fund" for Bezos, whose company <a href="https://www.businessinsider.com/blue-origin-loses-lawsuit-spacex-nasa-contract-elon-musk-dredd-2021-11?r=US&amp;IR=T">Blue Origin lost out on a NASA moon lander contract to SpaceX</a> in November.</p><div type="image" title="Jeff Bezos speaks after returning from his flight to space in July 2021." height="2250" width="3000" msid="91005456" hostid="261"></div><p>"At a time when over half of the people in this country live paycheck to paycheck, when more than 70 million are uninsured or underinsured and when some 600,000 Americans are homeless, should we really be providing a multibillion-dollar taxpayer bailout for Bezos to fuel his space hobby?" Sanders wrote.</p><p>Sanders has a long history of <a href="https://www.businessinsider.com/bernie-sanders-criticizes-jeff-bezos-net-worth-increase-opposition-amazon-union-2021-3?r=US&amp;IR=T">criticizing the Amazon founder</a>, but in his piece he emphasized the problem goes beyond Bezos.</p><p>"The reality is that the space economy – which today mostly consists of private companies utilizing NASA facilities and technology essentially free of charge to launch satellites into orbit – is already very profitable and has the potential to become exponentially more profitable in the future," Sanders wrote.</p><p>He pointed to SpaceX's commercial satellite venture <a href="https://www.businessinsider.com/spacex-starlink-internet-service-elon-musk-all-you-need-know-2021-2?r=US&amp;IR=T">Starlink</a> and the burgeoning market of <a href="https://www.businessinsider.com/space-tourism-you-wont-go-to-space-any-time-soon-2021-7?r=US&amp;IR=T">space tourism</a>.</p><div type="image" title="Elon Musk" height="683" width="910" msid="91005459" hostid="261"></div><p>"The time is now to have a serious debate in Congress and throughout our country as to how to develop a rational space policy that does not simply socialize all of the risks and privatize all of the profits," Sanders wrote.</p><p>"Space exploration is very exciting. Its potential to improve life here on planet Earth is limitless. But it also has the potential to make the richest people in the world incredibly richer and unimaginably more powerful. When we take that next giant leap into space let us do it to benefit all of humanity, not to turn a handful of billionaires into trillionaires," he concluded.</p><p>NASA, Blue Origin, and SpaceX did not immediately respond when contacted for comment on Sanders' article.</p>

Bernie Sanders said he's worried NASA is becoming an 'ATM' for Jeff Bezos' and Elon Musk's personal space race

<p><div class="KonaFilter image-container float_right"><div class="image on-image"></div><p></p></div>Tim Ferriss has spent much of his career dedicated to the study of learning.</p><p>As he says in the intro to <a href="http://fourhourworkweek.com/podcast/">his podcast</a> episodes, his mission is to uncover the tools and habits of the world's elite performers - whether they're hedge fund managers, entrepreneurs, athletes, or musicians - and share them with the public. It's why even though his book "<a href="http://www.amazon.com/gp/product/0547884591/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=0547884591&amp;linkCode=as2&amp;tag=thebusiinsi-20&amp;linkId=3TVPG4Y54BQQ6SVN" target="_blank">The 4-Hour Chef</a>" may teach you the best way to cook a steak, it will also teach you Ferriss' method for learning any other skill, whether it's a foreign language or athletic technique.</p><p>His four-step process is simplified by the acronym "DiSSS" (the "i" just makes it easier to say and remember), or DS3, if you prefer, which we explain below.</p><h3>Deconstruction</h3><p><em>"What are the minimal learnable units, the LEGO blocks, I should starting with?"</em></p><p>In the same way that <a href="http://www.businessinsider.com/time-management-tips-for-young-professionals-2015-1">the sheer size of a major project at work can fill you with anxiety</a> before you even start it, the idea of learning <a href="http://static4.depositphotos.com/1028537/383/v/950/depositphotos_3839004-Japanese-kanji-1-vector.jpg">a couple thousand Japanese <em>kanji</em> characters</a>, for example, can seem so overwhelming that you never pursue your dream of knowing basic Japanese. But the solution to both is the same: Break down the complex into the simplest parts.</p><p>Ferriss highlights four "tools" to use when approaching the deconstruction of a skill.</p><p>One tool is <strong>reducing</strong>, such as breaking down each Japanese character into components called radicals, a learning technique that a native. There are <a href="http://en.wikipedia.org/wiki/Table_of_Japanese_kanji_radicals">214 traditional radicals</a> that "provide clues to both meaning and pronunciation," Ferris explains, turning "an impossible task - learning 1,945 characters - into one that some people can complete in less than two months."</p><p>You can use <strong>interviewing </strong>as a way to see how those who have already achieved what you're aiming for approached learning. Ferriss suggests finding an expert through a cold email and asking about the most common mistakes beginners make as well as that expert's main principles.</p><p><strong>Reversal</strong> is the process of looking at the final product of your skill and backtracking to find the best way to begin a task. Ferriss writes that one of his readers taught him how to build the perfect fire in a fireplace, which she discovered by starting with a problem: How could she build a fire that did not burn out quickly and leave a large pile of ashes? The answer was to do <a href="http://fourhourworkweek.com/2009/02/02/how-to-build-an-upside-down-fire/">the exact inverse of the popular "teepee" method, the "upside-down" method</a>.</p><p>And then you can use <strong>translating</strong>, which in Ferriss' process is the utilization of shortcuts that help you "translate" an unknown skill. In a language, this could mean learning auxiliary verbs (to have, to want, to need, etc.) and basic verbs (to eat, to drink, to go, etc.) to begin communicating ideas as quickly as possible. As you further practice, the shortcuts will become less necessary.</p><p><div class="KonaFilter image-container float_left"><div class="image on-image"></div><p></p></div></p><h3>Selection</h3><p><em>"Which 20% of the blocks should I focus on for 80% or more of the outcome I want?"</em></p><p>In a <a href="https://itunes.apple.com/us/podcast/the-tim-ferriss-show/id863897795?mt=2">recent interview</a> with <a href="http://www.businessinsider.com/raoul-pal-rmb-chart-2015-2">Raoul Pal</a> on <a href="https://realvisiontv.com/">Real Vision Television</a>, Ferriss explains that when he consults with an entrepreneur or executive, he takes a holistic approach to improving their lives, and this includes advising them on health and fitness. Since it's almost a guarantee that even high performers won't make massive, sudden changes to their diet or exercise regimen (or lack thereof), Ferriss finds the smallest changes that will have the biggest effects.</p><p>For someone looking to lose excess fat, this can mean that the only deliberate diet decision they make is eating 30 grams of protein within 30 minutes of waking up. For someone looking to start some form of physical activity, it can be start with simply five minutes of kettle bell swings three times per week.</p><p>As you make small but powerful changes, you put yourself on a path toward accelerated growth, Ferriss says.</p><h3>Sequencing</h3><p><em>"In what order should I learn the blocks?"</em></p><p>Ferriss says that a common reason people try a skill like cooking and then soon quit after feeling overwhelmed is because they took on an advanced task, such as a recipe that requires knife technique a novice couldn't handle.</p><p>When he decided to learn the tango, for example, he learned from male professionals that learning the female role enhanced their performance as the lead. Learning the follow position first, he says, allowed him to master posture, foot position, and weight shifting before attempting to learn the lead he initially botched.</p><h3>Stakes</h3><p><em>"How do I set up stakes to create real consequences and guarantee I follow the program?"</em></p><p>"No matter how good a plan is, how thorough a book is, or how sincere our intentions, humans are horrible at self-discipline," Ferriss writes.</p><p>That means that when you decide to learn something, you need to set weekly goals for yourself, with ramifications that will hurt if you don't follow them.</p><p>Ferriss recommends checking out <a href="https://www.stickk.com">stickK</a>, a site cofounded by Yale economics professor Dean Karlan. Established on "the principle that creating incentives and assigning accountability are the two most important keys to achieving a goal," as Ferriss writes, stickK lets you put up a financial stake that sends your money to an "anti-charity" (an organization you despise) when don't complete a goal, and lets you set up a coach who monitors your progress and motivates you along the way.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/peter-diamandis-space-trillionaire-entrepreneur-2015-2">Peter Diamandis: The first trillionaire is going to be made in space</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="R3bGk2czqToG-j3dpzbKqSBFJXdmLLYk" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Tim Ferriss explains how the 'DiSSS' system can be used to learn any skill

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Florence Fu/Tech Insider</span></p></div><p></p></div></div>Ever since he was a kid, Sam Altman has been obsessed with a very specific kind of utopia.</p><p>As a young "Star Trek" fan and lover of sci-fi novels, he devoured stories of robots becoming a vital part of society, eliminating the need for humans in the workforce. Altman believed the upside to this seemingly fantastical reality was that robots produced unlimited wealth, which humans could share among themselves. They could live the lives of their choosing, unburdened by the pressures of a paycheck.</p><p>Altman is 31 now, and he's still very much thinking about that wild idea, known today as "basic income."</p><p>As the founder and president of Y Combinator, the largest and most well-known startup accelerator in Silicon Valley, Altman is leading the charge on bringing basic income to the American public.</p><p>"When it's feasible, we can totally restructure how society works," Altman tells Tech Insider.</p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Sam Altman</span></p><p class="caption">Sam Altman is the head of prestigious startup accelerator program, Y Combinator</p></div><p></p></div></div>Since Altman founded Y Combinator in 2005, its primary function has been to help promising start-up companies get off the ground. It offers guidance, equipment, and cash to turn startups like Reddit and Airbnb - and <a href="http://yclist.com/">many, many more</a> - into the tech giants that every young CEO dreams of running.</p><p>Fast forward to the summer of 2015, and a kooky idea called basic income had started to make international headlines. Countries such as Finland and the Netherlands began announcing their plans, mostly on the city level, to launch experiments in which residents get money for doing nothing in exchange. It was the first sign of life for the idea since the Canadian town of Dauphin conducted its own <a href="http://motherboard.vice.com/read/the-mincome-experiment-dauphin">small-scale experiment </a>in the 1970s.</p><p>The media's growing infatuation with basic income was a pleasant surprise to Altman.</p><p>"It never even crossed my mind that this was something we should try to reach out to journalists about," he says. "I didn't think anyone would be interested in covering it."</p><p>But then he published a <a href="https://blog.ycombinator.com/basic-income">blog post</a> about the initiative in January 2016, which was essentially a job listing for the researcher who would lead the experiment. News quickly spread that Silicon Valley's most influential incubator wanted to dip its toes in an idea that might not just revolutionize how people earn a living, but eliminate the need for earned income altogether.</p><p>With the logistics entrusted to <a href="http://www.techinsider.io/y-combinator-names-basic-income-experiment-leader-2016-5">Elizabeth Rhodes</a>, a University of Michigan researcher whose dissertation focused on relieving poverty in East Africa, Y Combinator announced in late May the terms of its pilot study. Officially, Y Combinator would lead the first basic income experiment to take place on American soil.</p><h2><strong>100 California families are receiving ~$1,500 per month for free</strong></h2><p>Later this year, it will begin with <a href="http://www.techinsider.io/y-combinator-names-basic-income-experiment-leader-2016-5">100 families</a> in Oakland, California, all of them from varied ethnic and socioeconomic backgrounds. They'll receive between $1,000 and $2,000 a month, no matter what. Even if the recipients move or quit their jobs, they'll still receive the money. The goal of the experiment will be to see how people's lives change when they don't have to worry about falling through the cracks in the system.</p><p>"If the pilot goes well," Altman <a href="https://blog.ycombinator.com/moving-forward-on-basic-income">wrote</a> on Y Combinator's blog, "we plan to follow up with the main study."</p><p>The main study is much broader in scope. It involves selecting thousands of citizens throughout the US to receive a regular paycheck, no strings attached, for a period of five years. The same conditions apply: Even if people gamble it all away or uproot their lives to start a business in Guam, the checks will keep coming.</p><p>If the Oakland pilot doesn't go well, Altman says, Y Combinator will consider different approaches. It'll conduct follow-up trials in other cities with slightly different methodology, though still in preparation for a larger five-year trial. A failure in Oakland doesn't necessarily mean a failure of basic income.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="http://www.flickr.com/photos/procsilas/">procsilas/flickr</a></span></p><p class="caption">Some families have already been chosen to experiment in Altman's pilot program for basic income, which will allow them to receive ~$1,500 per month without any strings attached.</p></div><p></p></div></div>Altman likes to challenge the idea that eliminating work also removes an essential path toward character-building, arguing that people shouldn't be forced to compromise their sense of autonomy in life just to put food on the table. Like the characters in his sci-fi novels, they should be free to pursue whatever passions they want without feeling guilty.</p><p>"I don't think we should be making a moral judgment about how people choose to spend their time," Altman says, emphasizing that if people don't want to work because we have plenty of resources to cover their unemployment, they should be free to play video games all day, read books, or make art.</p><p>Altman is hardly the only person is Silicon Valley to hold these views. That's because the tech giants that produce society's most advanced automated robots are the same ones that will need to answer for <a href="http://www.techinsider.io/obama-warns-congress-about-robot-job-takeover-2016-3">the rampant unemployment</a> those robots cause.</p><h2><strong>Robots will take every job within the next 100 years</strong></h2><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Savioke</span></p><p class="caption">The Relay robot is already being used by some hotels to replace room service.</p></div><p></p></div></div>Altman doesn't know exactly when artificial intelligence will be sophisticated enough to merit a universal basic income, but he knows it will happen. He says it'll take no more than 100 years and no fewer than 10 years for AI to reach a point where governments will have no choice but to issue cash handouts en masse.</p><p>If all this is beginning to sound like socialism, Altman would like to reassure you: It's not.</p><p>Basic income doesn't cap the amount of wealth people can amass; it only installs a financial floor, not a ceiling. Altman believes people should be as free as possible to get "as rich as they fucking want," so long as the people at the very bottom still have all their basic needs met.</p><p>"I am almost sure that in a world of basic income, [income and wealth inequality] will get a lot, lot worse," he says.</p><p>While some people will coast by, happy to live on their minimum payments each month, others will retain their entrepreneurial spirit and build fortunes. "We need to be ready for a world with trillionaires in it, and that's always going to feel deeply unfair. It feels unfair to me. But to drive society forward, you've got to let that happen."</p><p>Y Combinator aims to uplift companies that Altman and his teammates think could move society toward a brighter future. The basic income experiment is just an extension of that.</p><p>"I want to have the maximum good impact on the world that I can," Altman says. "If there are things I believe very strongly are going to happen, then I should dedicate our organization's resources to helping with that."</p><p><div class="KonaFilter image-container display-table float_left"><div><div class="image on-image"><p class="source"><span>Max Whittaker/Stringer/Getty Images</span></p><p class="caption">While some people will coast by, happy to live on their minimum payments each month, others will retain their entrepreneurial spirit and build fortunes.</p></div><p></p></div></div>Anyone in the startup world knows that making an impact involves plenty of failure along the way. Y Combinator's pilot data, for example, could easily show that people used the money for trips to Disneyland instead of home repair and school supplies.</p><p>That's why for a basic income experiment to work, companies and governments need to place extreme trust in human beings' ability to look out for themselves. It may be the only way society can ever create a future in which, 50 years from now, people will be able to tell their robot servants to make sure their basic income checks were wired properly.</p><p><span>For those who still cling to the idea of work being necessary to gain fulfillment, Altman encourages people to consider how future societies may come to see us once basic income has taken over. He believes the fact that early 21st-century societies denied certain people basic needs could make us all seem like barbarians.</span></p><p><span>"I do think at some point, and I don't know when," he says, "people will be somewhat horrified that we let people not have enough heat."</span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/shopping-tricks-save-money-study-rich-2016-3">2 simple shopping tricks the wealthy use to save money</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="0wNWczMjE6k1lJFOaBYhqT2nEdtcajBw" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

The inside story of one man's mission to give Americans unconditional free money

Peter Diamandis explains how he's working toward a future where humans can freely explore space and live forever

<p><span style="line-height: 1.5em;"><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Despite those beautiful images of swirling red clouds and sprawling landscapes, Mars is an barren desert that is incredibly inhospitable to life.</span></p><p><span style="line-height: 1.5em;">Indeed, temperatures around minus 67 degrees Fahrenheit, a near total lack of  atmosphere to protect from deadly radiation, and regular violent dust storms lead most experts to believe that a human colony on the red planet in the foreseeable future would be very difficult and extremely expensive.</span></p><p><span style="line-height: 1.5em;">And so when a company like Mars One says we can start a human colony on Mars in 10 years with a $6 billion budget, it is laughable.</span></p><p dir="ltr">"I don't want to get in their (Mars One's) way, but I'm skeptical that it can be accomplished on the timescale that they say," Neil deGrasse Tyson, director of the Hayden Planetarium at the Museum of Natural History and host of the new National Geographic show StarTalkTV, told Business Insider.</p><p dir="ltr">Mars One doesn't own any of its own space travel technology and has no existing contracts with companies that do. It plans to send four people at a time to start setting up a colony, and it plans to finance these missions through a reality TV show starring the colonizers, but no broadcast partners have been announced.<span style="line-height: 1.5em;"></span></p><p dir="ltr"><span style="line-height: 1.5em;">"It looks like a scam," John Logsdon, a space policy expert at George Washington University, <a href="http://www.buzzfeed.com/danvergano/mars-aint-never-gonna-happen">told BuzzFeed News</a>.</span></p><p><strong style="line-height: 1.5em;">What you need to know about Mars One:</strong></p><p dir="ltr">Mars One is a private nonprofit company with a planned mission to set up the first long-term human colony on Mars by 2025.</p><p dir="ltr">It plans to accomplish this by first sending a communication satellite and a rover to start setting up an outpost and then sending humans in groups of four to live on the planet. This would be a one-way trip, with no possibility of volunteers returning to Earth.</p><p dir="ltr">It's been about two years since Bas Lansdorp, cofounder and now CEO of Mars One, announced the plan to colonize the red planet. In that time, more than 200,000 people have applied. (Though the 200,000 number is <a href="https://medium.com/matter/all-dressed-up-for-mars-and-nowhere-to-go-7e76df527ca0">under contention</a>. Other publications have reported far less, and Lansdorp has done little to clear up the confusion). Either way, Mars One has narrowed the pool of applicants down to 100 people - "The Mars 100."</p><p dir="ltr">The company is planning on paying for this incredibly expensive mission using sponsors, donations, and creating a reality TV show starring the first colonizers.</p><p><strong>Mars One's proposed timeline for setting up a colony:</strong></p><ul><li><span style="line-height: 1.5em;">2015: The top candidates start training, and Mars One will choose 24 that it will send to Mars.</span></li><li><span style="line-height: 1.5em;">2018: A demo mission will launch that will put a stationary lander on the planet and put a satellite into orbit that is capable of transmitting messages between Earth and Mars.</span></li><li><span style="line-height: 1.5em;">2020: A rover is sent to Mars to scout out the best spot for a human settlement.</span></li><li><span style="line-height: 1.5em;">2022: Supplies are shipped over, including two living units, two life support systems, and a supply unit.</span></li><li><span style="line-height: 1.5em;">2023: The rover collects all those supplies and gets the outpost set up and ready for humans.</span></li><li><span style="line-height: 1.5em;">2024: The first four Mars colonizers leave Earth. It'll take about six to eight months to get there, and they'll land in 2025.<span style="color: #222222; line-height: 1.5em;"></span></span></li></ul><p><span style="color: #222222; line-height: 1.5em;">The plan is for the settlers to live in pods that will look something like this:</span></p><p><span style="color: #222222; line-height: 1.5em;"><span style="line-height: 1.5em;"><span style="line-height: 1.5em;"><div class="KonaFilter image-container display-table full"><div><div class="image on-image"></div><p></p></div></div>The problem? Almost none of this technology exists yet. And that's just the first hurdle. Below are all the reasons Mars One is never getting off the ground.</span></span></span></p><p><strong>1. The budget is way too low.</strong></p><p dir="ltr">Mars One plans on pulling this off with $6 billion.</p><p dir="ltr">At face value that may sound like a lot. But to put it into perspective, last year a <a href="http://news.nationalgeographic.com/news/2014/04/140422-mars-mission-manned-cost-science-space/">panel from NASA</a> said that a manned mission to Mars could probably become a reality with a budget of somewhere between $80 billion and $100 billion. NASA's plan to use the <a href="http://www.nasa.gov/exploration/systems/orion/#.VPIm-1PF8a4">Orion capsule</a> to send humans to Mars in the 2030s is probably technically feasible, but NASA's budget has continually been slashed, so a NASA mission is not likely on the horizon either.</p><p dir="ltr">In all fairness, Mars One plans on keeping its costs down by outsourcing all the technology development. "All equipment will be developed by third-party suppliers and integrated in established facilities," the company writes on its <a href="http://www.mars-one.com/"> website</a>.</p><p><strong>2. Even with such a low budget, Mars One probably won't be able to raise the money in time.</strong></p><p dir="ltr">Mars One won't need $6 billion up front, but the company failed to meet its <a href="https://www.indiegogo.com/projects/mars-one-first-private-mars-mission-in-2018">Indiegogo campaign goal</a> of $400,000 last year - a campaign that was supposed to help pay for the 2018 Mars lander.</p><p dir="ltr">Even SpaceX, another private company interested in space travel, has only raised around $1.2 billion, <a href="http://qz.com/346639/sorry-but-those-mars-volunteers-are-never-getting-off-the-ground/">according to Quartz</a>, and it's been around a lot longer than Mars One has.</p><p dir="ltr">As of February 28, including the Indiegogo campaign, the total amount of donations Mars One has received is about $759,816. That's a little over 0.01% of its $6 billion budget.</p><p dir="ltr">But Lansdorp remains tirelessly optimistic about the securing the money, and he says there are no plans to rethink the timeline.</p><p dir="ltr">"We have very good interest for our upcoming [investment] round and are not worried about our financial position," Lansdorp told Business Insider in an email.</p><p dir="ltr"><div class="KonaFilter image-container display-table full"><div><div class="image on-image"></div><p></p></div></div>The company seems to be banking on the revenue from a proposed reality TV show that would document the finalists' training, preparation, and voyage to Mars. <span style="line-height: 1.5em;">And people will be dying to watch a group of hopefuls vying for a shot to colonize Mars and then struggle to survive in an inhospitable alien world, right?</span></p><p><span style="line-height: 1.5em;">Well, it's not a good sign that no media corporation has purchased the exclusive broadcast rights that Mars One offered on the finalists' video interviews.</span></p><p dir="ltr"><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>And those <a href="http://www.businessinsider.com/strange-video-interviews-with-mars-one-finalists-2015-2">video interviews</a> with the finalists make some of them seem wholly unprepared for what they're getting themselves into.</p><p dir="ltr">Still, the company sounds pretty confident that it can generate a lot of interest in the show:</p><p dir="ltr">"In the next decade, about four billion people will have access to video images," the company writes in its <a href="http://www.mars-one.com/faq/finance-and-feasibility/what-is-the-mars-one-business-model">business model description</a>. "Mars One expects that virtually every one of them will watch when the first humans land on Mars."</p><p dir="ltr">The company cites the Olympics as a business model which, between broadcasting, sponsors, and ticket sales, brought in around $8 billion between 2009 and 2012.</p><p dir="ltr">But one has to wonder how interesting a Mars colony reality TV show would be anyway. Presumably these candidates will be doing some serious training over the next decade to ensure they survive when they arrive on Mars. That probably means they'll be doing a lot of very technical and very boring work inside small living spaces. It's questionable how much entertainment value that would have - unlike sporting events that have been successfully drawing huge audiences since their conception.</p><p><strong>3. A relentlessly optimistic (AKA unrealistic) timeline. </strong></p><p><span id="docs-internal-guid-66916019-d737-eb49-a2c3-fe4a89ac92bd">Even if Mars One does raise enough money to make this mission happen, landing humans on Mars within 10 years seems overly optimistic at best given the current state of rocket and human spaceflight technology.</span></p><p><div class="KonaFilter image-container display-table full click-to-enlarge"><div><div class="image on-image"><a title_source="NASA/JPL" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/54f4dba2ecad04d1464bf697-960/11149.jpg"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span></div><p></p></div></div>"The illustrations that I've seen basically has them (Mars One) using a bunch of SpaceX rockets and Dragon spacecraft and I'm like 'OK if they want to buy a bunch of Dragons and Falcon land rockets that's cool, we'll certainly sell them,'" Musk said. "But I don't think they've got anywhere near the funding to buy even one, so I think therefore it's unrealistic."</p><p dir="ltr">Musk has his own dreams of a colony on Mars, but even he admits that the Dragon capsules are "less than ideal" for sending humans to Mars. It'll likely be a six to eight month journey. "That's a long time to spend in something with the interior volume of an SUV," Musk said. "So I'd recommend waiting for the next generation of technology."</p><p><span id="docs-internal-guid-66916019-d73f-4599-f0cc-2112ad63fb76">Musk said during a <a href="http://www.reddit.com/r/IAmA/comments/2rgsan/i_am_elon_musk_ceocto_of_a_rocket_company_ama/">Reddit AMA</a> in January that the SpaceX plan for a Mars colony will feature different transport technology.<strong style="line-height: 1.5em;"><br /></strong></span></p><p>Lansdorp said the results for Paragon's life support designs will be coming out in March. So we'll stay tuned.</p><p><strong>5. There are too many unanswered questions on how to sustain life after we get there.</strong></p><p>If the Mars settlement ever hoped to grow 100% of its own food instead of relying on constant and costly resupply shipments, the crops would produce unsafe levels of oxygen within the living pods. So the settlers would need an oxygen removal system - something that also hasn't been invented for spaceflight yet.</p><p>That same MIT study also estimates that at least 200 square meters of crops would be needed to support humans in space. The Mars One mission in its current state as only allocated 50 square meters.</p><p>Further, only a handful of plant experiments have ever been conducted in space, and there's still a ton we don't know about growing crops in space or in low gravity.</p><p><strong><div class="KonaFilter image-container display-table full"><div><div class="image on-image"></div><p></p></div></div><br /></strong></p><p><strong>6. We have no idea what happens to humans who spend a really long time in space.</strong></p><p>Even if Mars One secures all the funding it needs, even if all this technology is invented, and supply issues get sorted out, we have no idea how long-term space travel influences the human body.</p><p>This year NASA will send astronauts to the ISS who will be the first humans to live in space for a consecutive year. The trip to Mars alone will take at least seven months.</p><p>Living in zero-g can stretch out our spines, turn our muscles into jelly, and mess with our immune systems. No one knows what permanently living in an environment with less than half of Earth's gravity and with no source of vitamin D from the sun would do to us.</p><p><strong>Bottom line: Mars One has a lot of people excited, but the odds are stacked against it.</strong></p><p>Still, some people have argued that this mission is not just about feasibility and whether it really will happen in 10 years. It's more about the pioneering spirit of the human race and inspiring people.</p><p>"There's so much that comes out of an effort like this," one of the 100 Mars One finalists Sonia Van Meter told <a href="http://jezebel.com/a-chat-with-sonia-van-meter-woman-preparing-for-a-one-1687428464?utm_campaign=socialflow_jezebel_facebook&amp;utm_source=jezebel_facebook&amp;utm_medium=socialflow">Jezebel</a>. "It is expensive, but the glory behind space exploration is that it inspires people."<span style="line-height: 1.5em;"></span></p><p>Even though it's unlikely that Mars One will be the company to get us to Mars, that doesn't mean we should stop trying.</p><p>During a <a href="http://www.reddit.com/r/space/comments/2x53ml/we_are_the_space_policy_and_advocacy_group_at_the/">Reddit AMA</a>, Casey Dreier, director of advocacy for the Planetary Society, said we need to think a little smaller first.<a href="http://www.reddit.com/r/space/comments/2x53ml/we_are_the_space_policy_and_advocacy_group_at_the/"><br /></a></p><p>"We talk a lot about humans on Mars, but I think we need to talk more about humans around Mars as a first step," Dreier wrote. "I don't know about you, but seeing astronauts float a few hundred kilometers off of the surface of Mars would be one of the most exciting events of my lifetime. There's still significant risk and technical issues to work out for getting people near the surface, much less on it, so I'm all for examining this option more."</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/peter-diamandis-space-trillionaire-entrepreneur-2015-2">Peter Diamandis: The first trillionaire is going to be made in space</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="R3bGk2czqToG-j3dpzbKqSBFJXdmLLYk" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

You Searched For "time to turn into trillionaires" and got 12 results

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The inside story of one man's mission to give Americans unconditional free money

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