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<ul class="summary-list"><li>Tinder-owner Match Group said it's taking a step back from its investment in the metaverse.</li><li>The change comes less than one year after Match Group detailed plans for new metaverse ventures, including "Single Town." </li></ul>Tinder-owner Match Group said Tuesday it's taking a step back from its investment in the metaverse, citing economic uncertainty and questions about "what will or won't work" in the metaverse. In a letter to shareholders, Match Group CEO Bernard Kim said he instructed the employees not to "invest heavily in the metaverse at this time." Less than one year ago, Match Group, which owns several online dating platforms, including Tinder, Hinge, and OkCupid, had discussed plans for "Single Town," a live virtual world in the metaverse in which single people could interact via their avatars. Match's CEO at the time, Shar Dubey, had said that though the experience was still in its early stages, it could eventually be its own standalone app. TechCrunch had previously <a href="https://techcrunch.com/2021/11/03/match-group-details-plans-for-a-dating-metaverse-tinders-virtual-goods-based-economy/">reported</a> on Match Group's metaverse ambitions. But the current macroeconomic picture and slower growth have caused Match to hold off on plans to further expand "Single Town" and other metaverse ventures, according to the company. Match Group declined to provide a comment for this story. Match Group's step back from the metaverse comes when enthusiasm for web3 and the metaverse show some signs of cooling. Bloomberg <a href="https://www.bloomberg.com/news/articles/2022-07-29/metaverse-jobs-are-disappearing-as-hiring-slows-at-google-facebook">reports</a> that job postings with "metaverse" in the title declined 81% between April and June. Additionally, Meta CEO Mark Zuckerberg has <a href="https://www.businessinsider.com/zuckerberg-metaverse-will-lose-significant-money-3-5-years-2022-5">warned</a> that the company's metaverse venture will lose "significant" sums of money for the next several years, and some products won't be ready for 15 years. Match Group is one of a growing list of companies trying to balance the realities of today, including inflation and a possible recession, with the promise of the metaverse's future. "We will consider moving forward at the appropriate time when we have more clarity on the overall opportunity and feel we have a service that is well-positioned to succeed," Match's CEO said of the company's metaverse ventures in his shareholder letter.

Match Group says it's stepping back from its metaverse dating plans, citing the economy and uncertainty about 'what will and won't work' on the new platform

<ul class="summary-list"><li><keyword id="46161" type="UNKNOWN" weightage="60" keywordseo="disney" source="Orion">Disney</keyword> and <keyword id="12048088" type="UNKNOWN" weightage="60" keywordseo="ralph-lauren" source="Orion">Ralph Lauren</keyword> are among well-known companies getting into the <keyword id="11121339" type="UNKNOWN" weightage="60" keywordseo="metaverse" source="Orion">metaverse</keyword>. </li><li>Bernstein Research had a rundown of companies that have stated their metaverse ambitions in a primer on Thursday. </li></ul>Ralph Lauren and Disney are among well-known consumer brands that are delving into the metaverse, the online space merging the physical and digital worlds that is growing into a potentially massive market, according to Bernstein Research. "How big can it be? Really big. The combined annual run-rate of the most relevant <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> is $2 trillion and growing," said Bernstein Research in a primer about the metaverse published Thursday. "The timing is still unknown, as we're early on the adoption curve and current metaverse technology doesn't offer the necessary value proposition for many users," it said. The note included some household names with plans for the metaverse. Here are a few: Ralph Lauren The fashion house has been collaborating with Zepeto, which allows people to create their own avatars that live, work, and play in the 3-D world. Its clothing recently appeared on the avatars of TXT, a popular K-pop boy group. Match Group The company that runs the Match.com and <keyword id="11907521" type="UNKNOWN" weightage="60" keywordseo="tinder" source="Orion">Tinder</keyword> dating sites this year acquired Hyperconnect, a South Korea-based video tech and social discovery company, for $1.7 billion. Hyperconnect has been testing Single Town, bringing avatar-based dating to the metaverse. Disney The CEO of the entertainment juggernaut, Bob Chapek, said the company is <a href="https://www.businessinsider.in/tech/enterprise/news/disney-ceo-bob-chapek-confirms-the-company-will-build-its-own-metaverse/articleshow/87641073.cms">planning to create its own metaverse</a> but he didn't outline specifics during the latest quarterly earnings call. Bumble The networking and dating site is working on applications in the metaverse, with traction building for its <a href="https://www.businessinsider.in/cryptocurrency/news/bumble-is-following-in-tinders-footsteps-with-plans-to-enter-the-metaverse-and-lead-the-web-3-0-revolution/articleshow/87665613.cms">Bumble BFF platform for making platonic friends</a>. <keyword id="11895708" type="UNKNOWN" weightage="60" keywordseo="microsoft" source="Orion">Microsoft</keyword>In 2022, the company plans to roll out <a href="https://news.microsoft.com/innovation-stories/mesh-for-microsoft-teams/">Mesh for Microsoft Teams</a>. The company says it will combine the capabilities of Microsoft Mesh, which allows people in different physical locations "to join collaborative and shared holographic experiences," with the productivity tools of Microsoft Teams.

Major brand names from Microsoft to Bumble have said they're getting into the metaverse. Here are 5 household names making plans for Web3.

The <keyword id="11121339" type="General" weightage="20" keywordseo="metaverse" source="Orion">metaverse</keyword> is the latest buzzword that gained more interest after Facebook held an event dedicated to its future plans and <a href="https://www.businessinsider.in/tech/news/facebook-goes-all-in-on-its-metaverse-ambitions-consolidates-itself-instagram-whatsapp-and-others-under-meta/articleshow/87352752.cms">renamed itself to ‘Meta’</a>. While the metaverse discussions have been in the light for months, many global tech companies are now announcing their plans on their own metaverses. It may be easy to understand that <keyword id="399907" type="General" weightage="20" keywordseo="meta" source="Orion">Meta</keyword> can create the <a href="https://www.businessinsider.in/tech/news/nike-to-soon-start-selling-virtual-sneakers-clothes-and-accessories/articleshow/87505392.cms">metaverse</a> but the possibilities are endless for this new internet world. It’s not just social media, but dating, gaming, collaboration, shopping, and a lot more can take place in the metaverse. Here’s what metaverse means in simple words The metaverse is broadly known as this immersive digital or virtual world where people interact with each other through their digital avatars. Here, people can socialise, shop, have immersive experiences, collaborate on projects, and more. There’s a new company almost every other day announcing their plans about the metaverse so let’s take a look at what exactly these companies have in mind. Meta (Facebook) Meta is probably the most invested in the metaverse right now. It defines the metaverse as “the next evolution of social connection.” Meta’s metaverse is going to be all 3D with digital avatars teleporting to different spaces, holograms, immersive gaming, and it will also feature crypto and NFTs. Meta will also create virtual homes known as ‘Horizon Home’ where you will be able to invite friends just like you do in real life. It’s kind of like Roblox but in a more immersive way. <div type="image" title="img (8)" msid="87663983" hostid="261" caption="&amp;lt;p&amp;gt;Horizon Home by Meta will let you invite friends to your virtual home just like you do in real life. &amp;lt;/p&amp;gt;"></div> There’s also ‘Horizon Marketplace’ where people will be able to sell 3D digital items which will help creators and developers earn money. Meta will also create spaces for gaming, working, and exercising too. Not just that, you will also be able to do advanced learning in the metaverse like medical students practising how to use instruments. Meta already has Oculus VR headsets for virtual experiences, and it’s also working on AR glasses called ‘Nazaré’ for holograms. Microsoft Microsoft wants to make virtual meetings more immersive with the introduction of 3D avatars and interactive spaces on Teams. There’s <a href="https://www.businessinsider.in/tech/news/microsoft-is-bringing-3d-avatars-and-metaverses-to-teams/articleshow/87501008.cms">Mesh for Microsoft Teams</a> that will allow people in different physical locations to join collaborative and shared holographic experiences on Teams. Microsoft is also adding 3D avatars to Teams that will be able to take part in meetings when you don’t feel like turning the camera on. <div type="image" title="ezgif.com-gif-maker (23)" msid="87664001" hostid="261" caption="&amp;lt;p&amp;gt;Microsoft will let people socialise, collaborate and work with each other through immersive spaces in Teams.&amp;lt;/p&amp;gt;"></div> Microsoft also plans on building metaverses within Teams which will be immersive spaces. Initially, Mesh for Teams will roll out with pre-built immersive spaces for meetings and social mixers. It will also let organisations build metaverses within Teams where these avatars can “mix and mingle, collaborate on projects and experience those serendipitous encounters that spark innovation.” Tencent Chinese tech giant <a href="https://www.businessinsider.in/tech/news/more-and-more-chinese-tech-giants-including-search-engine-baidu-are-trademarking-metaverse-terms-even-as-china-continues-to-issue-warnings-about-it/articleshow/87534740.cms">Tencent </a>also has plans for the metaverse. The company talked about its visions for the metaverse in different areas like gaming where it could make multiple games under one common IP, an infrastructure for users to make games and different gaming experiences within one game. It’s also planning a more gamified social network, and user-operated communities like Discord but with video bots for a more immersive experience. Roblox, Epic Games Roblox already offers a somewhat metaverse-like world where players can interact with each other. The company wants to build on this functionality, and also offer activities that people can take part in with other players. <div type="image" title="img (9)" msid="87664010" hostid="261" caption="&amp;lt;p&amp;gt;Marshmello&amp;#39;s virtual concert in Fortnite.&amp;lt;/p&amp;gt;"></div> <a href="https://www.businessinsider.com/epic-games-ceo-tim-sweeney-fortnite-unreal-engine-2019-3">Epic Games </a>is also ahead in the metaverse race with its popular game Fortnite where players can purchase items from Balenciaga, watch concerts and more. The company secured a $1 billion funding earlier this year which it said would be used to work on its long-term vision for the metaverse. Disney <a href="https://www.businessinsider.in/tech/enterprise/news/disney-ceo-bob-chapek-confirms-the-company-will-build-its-own-metaverse/articleshow/87641073.cms">Disney</a> is also preparing to create its own metaverse through which it will create “unparalleled opportunities for consumers to experience everything Disney has to offer across our products and platforms, wherever the consumer may be.” Details are still not revealed yet but the company already provides immersive experiences through Disney Movies VR. Dating companies Online dating is also another platform where the metaverse can really work. Tinder’s parent company Match Group announced earlier this month that it is planning to create a dating metaverse with avatar-based virtual experiences which will be available on its suite of dating apps. <a href="https://www.businessinsider.in/cryptocurrency/news/bumble-is-following-in-tinders-footsteps-with-plans-to-enter-the-metaverse-and-lead-the-web-3-0-revolution/articleshow/87665613.cms" data-type="tilCustomLink">Bumble</a> is also considering revamping its Bumble BFF platform by incorporating the metaverse along with blockchain technology and crypto. As mentioned above, the possibilities of the metaverse are endless and cannot be constricted to one single platform. It will not only bring shared experiences for people within one company but also offer cross-platform experiences. This is only the start now and the groundwork has already been laid by companies like Epic Games and Snap but we’re looking at a full-fledged digital shared world that is expected to take years to complete. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/disney-ceo-bob-chapek-confirms-the-company-will-build-its-own-metaverse/articleshow/87641073.cms" data-type="tilCustomLink">After Facebook, Disney wants to build its own metaverse</a> <a href="https://www.businessinsider.in/tech/news/microsoft-is-bringing-3d-avatars-and-metaverses-to-teams/articleshow/87501008.cms" data-type="tilCustomLink">Microsoft wants to make virtual meetings more immersive with 3D avatars and metaverses</a>

It’s not just Zuckerberg ⁠— here’s how gaming, shopping and dating could look like in the metaverse

Hello, friends. Investors, executives, and (basically) all Twitter aficionados are reacting to Elon Musk's purchase of the social media company, and many <a href="https://www.businessinsider.com/as-elon-musk-twitter-takeover-succeeds-employee-exodus-may-follow-2022-4">employees aren't thrilled.</a>Let's dive in.If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-in-tech">sign up here</a>. Download Insider's app – click <a href="https://apps.apple.com/app/apple-store/id554260576">here for iOS</a> and <a href="https://play.google.com/store/apps/details?id=com.freerange360.mpp.businessinsider">here for Android</a>.<a href="https://www.businessinsider.com/as-elon-musk-twitter-takeover-succeeds-employee-exodus-may-follow-2022-4"></a>1. It's official: Elon Musk is buying Twitter. After initially <a href="https://www.businessinsider.com/twitter-chooses-poison-pill-defense-elon-musk-acquisition-offer-response-2022-4">resisting</a> Musk's takeover offer, the social media company has agreed to go private in a <a href="https://www.businessinsider.com/elon-musk-to-buy-twitter-board-accepts-44-billion-2022-4">$44 billion deal</a> that's expected to close in 2022. Here's what employees, investors, and others are saying: <ul><li>The deal <a href="https://www.businessinsider.com/some-twitter-users-say-quitting-platform-over-elon-musk-deal-2022-4">set the internet ablaze</a>, with Binance, Mark Cuban, Andreessen Horowitz, and the Winklevoss twins all weighing in (many of whom <a href="https://www.businessinsider.com/elon-musk-twitter-buyout-mark-cuban-a16z-winklevoss-2022-4">tweeted their support</a> for the social media giant's new owner). </li><li>Meanwhile, many employees aren't as thrilled. Some fear Musk's impulsive leadership style will have him forcing the company to act on "his hot takes" — and some are preparing for <a href="https://www.businessinsider.com/as-elon-musk-twitter-takeover-succeeds-employee-exodus-may-follow-2022-4">mass departures</a> after the announcement. </li><li>"It's all about Elon," one employee said. "There will be some sort of exodus event from those who do not approve of him." Here's what we learned from <a href="https://www.businessinsider.com/twitter-ceo-dodges-question-on-trump-returning-after-musk-deal-2022-4">an all-hands meeting yesterday.</a></li></ul><a href="https://www.businessinsider.com/as-elon-musk-twitter-takeover-succeeds-employee-exodus-may-follow-2022-4">Everything else employees told us.</a>In other news:<a href="https://www.businessinsider.com/what-is-the-metaverse-decentraland-axie-infinity-roblox-sandbox-facebook-2022-4"></a><div type="image" title="Illustrations depicting the 7 metaverses listed in the story" height="900" width="1200" msid="91099456" hostid="261"></div>2. We explored the hottest virtual worlds to find out what the metaverse is all about. We immersed ourselves in seven popular metaverses so we could bring you the good, the bad, and the ugly of each newfangled world. <a href="https://www.businessinsider.com/what-is-the-metaverse-decentraland-axie-infinity-roblox-sandbox-facebook-2022-4">Dive into Insider's Guide to the Metaverse.</a>3. War was the last thing on her mind. Now a Ukrainian startup founder is running her business from bomb shelters. Before Russia invaded Ukraine, 29-year-old Alyona Mysko was on the verge of taking Fuelfinance global. But since the war started, she's had to flee her home and figure out how to work from shelters. <a href="https://www.businessinsider.com/startup-founder-alyona-mysko-works-from-bomb-shelters-in-ukraine-2022-4">She explains how she's made it work.</a>4. People are using Tinder to sell insurance policies. In an online world where the boundaries are increasingly blurred, Tinder users say they've run into people trying to grow their client bases instead of going on dates. <a href="https://www.insider.com/social-media-tinder-for-work-linkedin-for-love-blurry-internet-2022-4">More on the dating app's blurry boundaries.</a> 5. A former Google recruiter shares how to land a job. Having worked with the company for five years, Jeff Sipe has a good idea of how to break in — including connecting with current employees and uploading a profile picture on your LinkedIn. <a href="https://www.businessinsider.com/how-to-get-hired-at-google-ex-recruiter-interview-tips-2022-4">Read his biggest job-hunting dos and don'ts.</a>6. SpaceX Starlink will work with a major airline to offer in-flight Wi-Fi. Hawaiian Airlines, in partnership with Elon Musk's internet service, will offer free Starlink internet onboard starting in 2023. <a href="https://www.businessinsider.com/elon-musk-spacex-starlink-signs-deal-hawaiian-airline-free-wifi-2022-4">Here's what you need to know.</a>7. There's a new CRO in town: the chief recruiting officer. This year, the software firm Gem hired early Facebook employee Richard Cho to lead recruiting, an uncommon move among startups. Here, Cho explains <a href="https://www.businessinsider.com/startups-hiring-chief-recruiting-officers-to-win-the-talent-wars-2022-4">why companies need a chief recruiting officer.</a>8. A hacker stole $1 million worth of Bored Ape Yacht Club NFTs. The thief compromised the project's official Instagram account, and using a phishing link, swindled users out of their expensive NFTs. <a href="https://www.theverge.com/2022/4/25/23041415/bored-ape-yacht-club-nft-hack-instagram?scrolla=5eb6d68b7fedc32c19ef33b4">The Verge has the latest.</a>Odds and ends:<a href="https://www.businessinsider.com/electric-chevy-corvette-hybrid-general-motors-gm-2022-4"></a><div type="image" title="Electrified Corvette teaser image." height="1282" width="2564" msid="91099457" hostid="261"></div>9. Chevrolet just confirmed an all-electric Corvette is on the way. The fully electric sports car will follow a hybrid Chevrolet Corvette that's slated to debut in the next year, the company said. <a href="https://www.businessinsider.com/electric-chevy-corvette-hybrid-general-motors-gm-2022-4">Watch a video of a prototype Corvette here.</a> 10. Facebook is opening its first-ever physical retail location. Dubbed the Meta Store, the brick-and-mortar location is designed to drum up interest in VR headsets and the metaverse, and will open near San Francisco next month. <a href="https://www.businessinsider.com/see-inside-the-meta-store-facebook-first-ever-retail-location-2022-4">Get a sneak peek at the Meta Store.</a>What we're watching today:<ul><li>Alphabet, Microsoft, and others are reporting earnings today. <a href="https://markets.businessinsider.com/earnings-calendar">Keep up with earnings here.</a> </li><li>GamesBeat Summit <a href="https://venturebeat.com/category/games/">starts today.</a></li><li>The Financial Times' <a href="https://crypto.live.ft.com/home">Crypto and Digital Assets Summit</a> starts today. </li></ul>Keep updated with the latest <keyword id="6358815" type="UNKNOWN" weightage="60" keywordseo="tech" source="Orion">tech</keyword> news throughout your day by checking out<a href="https://link.chtbl.com/therefresh"> The Refresh from Insider,</a> a dynamic audio news brief from the Insider newsroom. <a href="https://link.chtbl.com/therefresh">Listen here.</a>Curated by Jordan Parker Erb in New York. (Feedback or tips? Email <a href="mailto:jerb@insider.com">jerb@insider.com</a> or tweet <a href="https://twitter.com/jordanparkererb?lang=en">@jordanparkererb</a>.) Edited by Michael Cogley in London.

10 Things in Tech: Twitter enters its Musk era

I have yet to scam my bosses. And while I definitely won't, some folks have, and are taking it to the extreme — by <a href="https://www.businessinsider.com/employee-fraud-how-companies-can-spot-employees-outsourcing-their-jobs-2022-8">outsourcing their jobs to other people</a>.I'm Jordan Parker Erb, and I wrote this newsletter. It was not outsourced. Today, I'm showing you how companies are discovering fraudsters with sneaky side hustles. If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-in-tech">sign up here</a>. Download Insider's app <a href="https://link.insider.com/click/27645591.160803/aHR0cHM6Ly93d3cuaW5zaWRlci5jb20vYXBwP25yX2VtYWlsX3JlZmVyZXI9MSZ1dG1fc291cmNlPVNhaWx0aHJ1JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NvbnRlbnQ9T3BlbmluZ19iZWxs/62667762063d6b9bef0cffb3Bf9c9aa56">here.</a><a href="https://www.businessinsider.com/employee-fraud-how-companies-can-spot-employees-outsourcing-their-jobs-2022-8"></a>1. Some employees are outsourcing their jobs to other people. Senior correspondent Rebecca Knight writes that with remote work has come a wide opportunity for fraud — including having someone else do your job.<ul><li>Data on people outsourcing their work is hard to come by, but anecdotal evidence from company execs suggests the practice is on the rise.</li><li>One expert said the practice is most common in technical, IT, coding, and developer roles — and that the employees often earn a relatively high salary.</li><li>Some observers say the fact that rogue employees are doing this could signify a bigger problem: This far into the remote-work revolution, employers do not have a good handle on managing their remote workforces. </li></ul><a href="https://www.businessinsider.com/employee-fraud-how-companies-can-spot-employees-outsourcing-their-jobs-2022-8">How companies are spotting the fraudsters.</a>In other news:<a href="https://www.businessinsider.com/jeff-bezos-yacht-towed-after-plans-dismantle-dutch-bridge-nixed-2022-8"></a><div type="image" title="Jeff Bezos and a bridge in rotterdam side by sidee" height="1500" width="2000" msid="93347155" hostid="261" sizebytes="131426"></div>2. Jeff Bezos' megayacht was quietly towed from a Dutch shipyard. Bezos' yacht was moved before dawn on Tuesday after the company building it scrapped a request to dismantle a historic bridge to let it pass. <a href="https://www.businessinsider.com/jeff-bezos-yacht-towed-after-plans-dismantle-dutch-bridge-nixed-2022-8">Watch a video of the boat's journey.</a>3. Job candidates should ask these questions to ensure they aren't on the wrong side of future layoffs. Jermaine Murray, a recruiter who's placed over 700 people at companies like Microsoft, Google, and Facebook, offers<a href="https://www.businessinsider.com/how-to-get-ahead-of-layoffs-interview-tips-google-facebook-2022-5"> three questions job seekers should ask to get ahead of future layoffs</a>. 4. SoundCloud just announced layoffs. According to Billboard, the music-streaming company announced layoffs that will affect up to 20% of its global workforce. <a href="https://www.billboard.com/pro/soundcloud-layoffs-20-percent-workforce-global/">Billboard has the latest.</a>5. Netflix insiders describe a culture shift to "fear-based" decision making. Creators, producers, and other Hollywood stakeholders said the company's culture has changed amid challenges — and some wonder <a href="https://www.businessinsider.com/netflix-insiders-reveal-culture-shift-fear-based-decisions-layoffs-cuts-2022-8">whether the things that made Netflix special are fading away</a>.6. A former TikTok moderator describes recovering from the work. The former employee said it took months to bounce back after working as a TikTok content moderator, a job where they made less than $7 an hour and saw coworkers cry daily. <a href="https://www.businessinsider.com/it-took-me-2-months-recover-from-working-tiktok-moderator-2022-7">Read their story.</a>7. A freelancer earned $1.2 million writing Amazon product descriptions on Fiverr. Levi Newman joined the freelance service marketplace eight years ago to turn writing into a side hustle. Each year since then, he's raked in about $150,000. <a href="https://www.businessinsider.com/how-to-make-money-on-fiverr-build-million-freelance-business-2022-8">He explains how he built his business.</a>8. Tinder's metaverse plans have been shattered. Following disappointing second-quarter earnings, Tinder's parent company Match Group announced a major leadership shuffle, and said it'd be killing plans for metaverse-based dating and virtual currencies. <a href="https://www.businessinsider.com/tinder-match-group-metaverse-dating-crypto-economic-slowdown-uncertainty-meta-2022-8">We've got the details.</a>Odds and ends:<a href="https://www.businessinsider.com/ford-f150-lightning-rivian-r1t-electric-pickup-truck-review-comparison-2022-8"></a><div type="image" title="The Ford F-150 Lightning and Rivian R1T electric pickup trucks." height="720" width="1440" msid="93347160" hostid="261" sizebytes="128852"></div>9. Rivian's R1T and Ford's F-150 Lightning go head-to-head in our EV showdown. Insider's transportation reporter test-drove both electric trucks — <a href="https://www.businessinsider.com/ford-f150-lightning-rivian-r1t-electric-pickup-truck-review-comparison-2022-8?nr_email_referer=1&amp;utm_source=Sailthru&amp;utm_medium=email&amp;utm_content=10_things_tech&amp;utm_campaign=new:%2010%20Things%20in%20Tech%20-%20native%20ad&amp;r=US&amp;IR=T">find out which vehicle came out on top and why</a>.10. We ranked the 22 best original shows on Apple TV Plus. Despite having a smaller library of shows than competitors like Hulu and Netflix, Apple TV Plus has amassed an impressive lineup of original series, from "Ted Lasso" to "Severance." <a href="https://www.businessinsider.com/guides/streaming/best-apple-tv-plus-shows">See our top picks here.</a>What we're watching today:<ul><li>Lyft, DoorDash, and others are reporting earnings today. <a href="https://markets.businessinsider.com/earnings-calendar">Keep up with earnings here.</a></li><li>Tesla stockholders are set to vote on its stock split proposal.</li></ul>Keep updated with the latest tech news throughout your day by checking out<a href="https://link.chtbl.com/therefresh"> The Refresh from Insider,</a> a dynamic audio news brief from the Insider newsroom. <a href="https://link.chtbl.com/therefresh">Listen here.</a>Curated by Jordan Parker Erb in New York. (Feedback or tips? Email <a href="mailto:jerb@insider.com">jerb@insider.com</a> or tweet <a href="https://twitter.com/jordanparkererb?lang=en">@jordanparkererb</a>.) Edited by Hallam Bullock (tweet <a href="https://twitter.com/hallam_bullock">@hallam_bullock</a>) in London.

Some remote workers have picked up a nefarious side hustle: outsourcing their work

<ul class="summary-list"><li>The <keyword id="11964162" type="UNKNOWN" weightage="60" keywordseo="fbi" source="Orion">FBI</keyword> has warned that romance <keyword id="12273077" type="UNKNOWN" weightage="60" keywordseo="scams" source="Orion">scams</keyword> are on the rise, with $64 million lost in the Bay Area alone in 2021.</li><li>A recent survey by eToro showed 33% of Americans are more likely to go on a date with someone that talks about <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword>.</li></ul>Cryptocurrencies come with a number of health warnings attached, including their high volatility and the degree of regulation consumer protections they come with.The FBI is now warning people that "romance scams", much like those in Netflix's latest true crime documentary, <a href="https://www.insider.com/tinder-swindler-simon-leviev-responds-accusations-instagram-2022-2">The Tinder Swindler</a>, are not only on the rise, they also increasingly involve crypto.In a report late last week, <a href="https://www.fbi.gov/contact-us/field-offices/sanfrancisco/news/press-releases/fbi-warns-of-rise-in-bay-area-romance-scams">the FBI</a> said in the Bay Area alone, $64 million was lost to romance scams in 2021 alone, almost double the $35 million lost the previous year and crypto is definitely part of that increase."The FBI San Francisco has seen a rising trend in which romance scammers are persuading individuals to send money to invest or trade cryptocurrency. After gaining the confidence and trust of the victim, the scammer then directs the victim to a fraudulent website or application for an investment opportunity," the report said. Regulators and central bankers dislike crypto. Politicians have more mixed views. But regular people are definitely warming to it in more ways than one.Online broker eToro found in a recent <a href="https://www.prnewswire.com/news-releases/talking-crypto-may-help-americans-find-love-this-valentines-day-new-etoro-survey-finds-301468271.html">survey</a> of 2,000 adults, that one in three Americans said they would be more likely to go out with someone that mentions their crypto on their dating profile.When it comes to securing that second date, crypto comes in handy again, according to eToro, with 74% of respondents saying they would be interested in a second date with a person that paid the bill in <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword>. But even if you manage to avoid the scammers and find love through crypto, that doesn't mean you're exempt from pain, as the New York Times <a href="https://www.nytimes.com/2022/02/13/technology/divorce-bitcoin-crypto.html">reports</a> that dividing crypto has become a contentious issue in divorce cases. While there's no formula for a happy divorce, the FBI did release a list of tips for protecting against crypto romance scams <a href="https://www.fbi.gov/contact-us/field-offices/sanfrancisco/news/press-releases/fbi-warns-of-rise-in-bay-area-romance-scams">here</a>, which includes the following advice:<ul><li>Never send money, trade, or invest per the advice of someone you have solely met online.</li><li>Do not disclose your current financial status to unknown and untrusted individuals.</li><li>Do not provide your banking information, Social Security Number, copies of your identification or passport, or any other sensitive information to anyone online or to a site you do not know is legitimate.</li><li>If an online investment or trading site is promoting unbelievable profits, it is most likely that—unbelievable.</li><li>Be cautious of individuals who claim to have exclusive investment opportunities and urge you to act fast.</li></ul>Read more: <a href="https://www.businessinsider.com/how-to-invest-in-digital-40-stocks-to-profit-from-this-top-trend-2022-2?r=US&amp;IR=T" target="_blank" rel="noopener noreferrer">An investment chief at a $100 billion firm lays out why 'Digital 4.0' is the top investing theme he's targeting and names 4 stocks you can buy to tap into it - including a surprising metaverse play</a>

After the 'Tinder Swindler', the FBI is now warning about the rise in romance scams, while a survey showed 1 in 3 Americans are more likely to date someone who talks about crypto

Grace, a 29-year-old publicist in New York, has regularly used a slew of dating apps for more than four years, with little luck. Despite endless chatting, her matches rarely materialize into in-person dates. She's tried a paid version of <a target="_blank" class="" href="https://www.businessinsider.com/hinge-boyfriend-why-dating-is-better-offline-2023-6">Hinge</a> ($100 for three months). She's tried the members-only app Raya, but after she spent $120 a year for the past three years, it's led her to only two first dates. At this point, Grace said, the apps have left her "burned out and exhausted."In a recent Forbes survey of Americans who'd used dating apps in the past year, 78% of respondents said they felt some amount of burnout. A growing number of younger people are rejecting dating and sex altogether. Among millions, a consensus is forming: <a target="_blank" class="" href="https://www.businessinsider.com/forever-alone-staying-single-done-with-dating-apps-2023-7">Dating apps suck</a> so bad that they might even be deliberately keeping us from finding love.Theories abound on what's behind the frustrating, sorry state of apps. Some point to how, as a way to compensate for stagnating user bases, many apps are increasingly becoming pay to play. Last fall, Tinder rolled out a <a target="_blank" class="" href="https://www.businessinsider.com/how-to-get-tinder-select-the-499-monthly-subscription-2023-12">$500 monthly subscription</a>, in addition to two cheaper membership tiers. The League charges up to $1,000 a week or $2,500 a month. Hinge charges users for "roses" to send to their "standouts," which are trapped behind a paywall that critics have dubbed "rose jail." These days, "it's really a lot harder to be functional if you're not on some level of a paid membership," Damona Hoffman, a dating coach, said. While apps like Hinge insist they're "designed to be deleted," finding a partner on them increasingly seems reserved only for those who can afford it.Some point to a fundamental misalignment between dating-app companies and their customers: The more successful the product is for the user, the worse it is for the bottom line. "They don't actually want you to be successful because that means they're losing a customer," said Bianca Stelian, a digital strategist who posted <a target="_blank" href="https://www.businessinsider.com/dating-apps-deleted-hinge-raya-tinder-bumble-oversaturated-bad-matches-2024-1">a viral TikTok</a> positing her own theories about dating-app burnout. Others argue that the apps are intentionally gamified and addictive. The average American dating-app user spends <a target="_blank" href="https://www.forbes.com/health/dating/dating-app-fatigue/">51 minutes a day</a> swiping, more than double the time the average American spends exercising. Ryan Clarkson, a lawyer who recently brought a class-action lawsuit on behalf of Tinder and Hinge users, compared dating apps maximizing user engagement and "trapping users in a perpetual pay-to-play loop" to pharmaceutical companies selling addictive drugs to vulnerable patients. Match Group, which owns Tinder and Hinge, called Clarkson's lawsuit "ridiculous" and insisted that its business strategy didn't rely on advertising or engagement metrics.Still, others blame the problem on the near monopoly a handful of companies — namely Match Group (which owns 45 dating brands worldwide) and Bumble — have on the market, which has led to years of complacency. "They've just been the same for so long," Ali Jackson, a New York City dating coach, said. "Somebody needs to do something drastically different."So here's one idea: What if your local government played matchmaker?Before you barf at the thought of your mayor setting you up on your next date, hear me out: The more expensive dating becomes, the less equitable it becomes. Meanwhile, the US government is increasingly recognizing social connection as a key element of public health, and increasingly investing in ways to combat our "<a target="_blank" href="https://www.businessinsider.com/there-is-no-loneliness-epidemic-mental-health-2024-4">loneliness epidemic</a>." If romantic relationships are so important both for the individual and for society, it's not a stretch to consider them a public good worth investing in.Some countries, including Japan and Australia, already do and have been experimenting with government-subsidized and even government-run alternatives to traditional, commercial dating apps. While these projects are still in their early days, they raise a once unthinkable, now compelling question for America: Could the government bring some much-needed innovation to dating?For years, several East Asian countries have desperately sought to reverse their plummeting birth rates. They've rolled out subsidies for parents, salary increases for younger workers, and other family-friendly policies. Increasingly, they see the dating industry as a lever to pull.The Japanese federal government's Children and Families Agency, for example, has set up marriage support centers in most of the country's 47 prefectures, providing services like dating coaches, in-person mixers, and at least one mixer in the metaverse. A center in Saitama prefecture (population 7.3 million) reported that since its center opened in October 2018, 12,517 couples had begun dating through the service and 472 couples had gotten married.In Tokyo, the city government is even releasing its own dating app, part of a campaign called Tokyo Futari Story ("futari" means couple). The service, which the city has budgeted several million dollars to develop and promote, will require users to verify their income, prove they're unmarried, sit for an interview with the app's staff, and sign a statement saying they're intent on getting married. Some experts are cautiously optimistic about the government playing cupid. Bouke de Vries, an associate professor of philosophy at Ghent University in Belgium who's studied dating apps, argues that state-run dating apps are at least in theory better positioned to help people find partners without spending too much money or time in the process. Many for-profit dating services are "gratuitously prolonging" users' search for love, he said. "The interests of governments are much better aligned with those of love-seeking users than those of private companies and love-seeking users," de Vries said.Others say these projects will do little to change entrenched attitudes. Omar Minami, a former Tinder employee in Japan and cofounder of a Japanese dating app, said that low marriage and birth rates are the result of much-deeper economic and cultural issues, including the gender wage gap, intense work culture, and huge expenses of raising kids. Government-funded dating apps are a "shiny object" and short-term solution, he added."It will take decades of work in order to change the mindset of Japanese people in regards to marriage," he said. "Unfortunately, government officials are only looking for investments that will pay off in their lifetime."On the other hand, governments can be given so much power to play matchmaker they damage all of society. In the 1980s, Singapore pursued a racist, eugenics-based policy by offering discounted dating services exclusively to college-educated citizens, who were disproportionately ethnically Chinese, excluding members of marginalized minorities. The government also funded voluntary sterilization for lower-income parents.Other countries, however, have stepped in to make dating less dangerous for its most vulnerable citizens. People with disabilities in Australia can now use the cash benefits they get from the country's <a target="_blank" href="https://www.ndis.gov.au/">National Disability Insurance Scheme</a> to pay for a dating app designed for people with disabilities, called the Cliq Connection. Cheryl Drury, the app's founder, said many of her customers previously had trouble dating, fell prey to scams, or were sexually assaulted. "They're just being eaten up on mainstream dating apps because they're just so vulnerable through physical assault as well as scams," she said. But she doubts the government will offer direct support for her services anytime soon, given the persistent "taboo" surrounding sexuality, relationships, and disability.A more realistic model for America may be a public-private partnership model. Last year, Japan's most popular dating app, the Match Group-owned Pairs, began collaborating with several prefectures and cities. The governments have employed researchers to devise questionnaires for users and have hosted dating seminars and other events, and they're covering the costs of their constituents' memberships to the app. The company, which isn't taking direct government funding, says it hopes these partnerships will help alleviate the "worsening population decline in rural areas and the resulting low birth rate and unmarried population."Francesca Katayama met her husband on Pairs in Tokyo in 2021 (they now have 2-year-old twins). The 31-year-old said she's in favor of more government support for dating — especially for an app like Pairs, which has already catered to people seeking committed relationships — but blames the country's high cost of living and intense work culture for low marriage and birth rates.Junko Yamada, a psychology professor at Rissho University who has worked with Pairs, thinks governments have a key role to play in breaking down barriers in the world of romance. "Although romantic relationships are often perceived as an individual problem," Yamada said, "the problem is actually largely due to social structures." She blamed a decline in dating on workplace sexual harassment, an insular social scene, and concerns about safety and security. Yamada said that government-subsidized dating services could appeal particularly to those who are skeptical of private-sector apps by offering extra security and ensuring users are serious about finding romantic connection.But could any of this happen in America? As of today, an engineer hoping to build the next OKCupid from inside the Department of Health and Human Services would face some steep hurdles.For one thing, there's a lack of bipartisan support. Beyond defending reproductive rights, liberals and progressives have largely shied away from promoting courtship and family creation. Meanwhile, small-government conservatives are unlikely to pass a Make America Date Again bill. Although! Conservatives have long been <a target="_blank" href="https://www.businessinsider.com/republican-baby-bust-panic-wont-support-pro-family-policies-2021-4">fixated on boosting the birth rate</a>, and Elon Musk, who is now donating $45 million a month to a Trump super PAC and has long warned against "population collapse," trumpeted the announcement of Tokyo's dating app. "I'm glad the Japanese government recognizes the importance of this matter. If radical action isn't taken, Japan (and many other countries) will disappear!" he wrote on X.But perhaps a bigger impediment than political will is cultural taboo. "There's something almost salacious about finding love and dating," said Justin Garcia, a sex researcher and professor of gender studies at Indiana University. If society viewed sex and relationships as a health issue, there would already be government funding to study it and independent commissions to address it, he added. But Garcia, who runs the university's sexual-behavior research center, Kinsey Institute, has found it nearly impossible to get the government to fund research related to sex and romance unless it's specific to a very particular, marginalized group, like those suffering from epilepsy or Alzheimer's.Instead, academics have to partner with industry or philanthropic organizations. Garcia serves as a scientific advisor to Match Group, which funds some of his research. Meanwhile, his work is under attack by Republican lawmakers, who last year ended state funding for the Kinsey Institute, prompting the university's board of trustees to consider turning it into an independent nonprofit.To Garcia, funding research on romantic and sexual relationships is a no-brainer. "These are some of the most important relationships in our lives," he said. "They impact our psychological health. They impact our physical health. They impact our financial and economic prospects. They impact our family dynamics and future generations."When it comes to dating apps, he supports rigorous research on what's working and what's not. He sees a role for the government, though, he said, there's a vaguely ominous threat of the government intervening in people's personal lives. "We don't want government telling us who we should partner with, and how to partner, and when to partner, but rather giving people more resources to have successful relationships," he said.No American government has yet helped its constituents date. But it might not be hard to imagine a local official like Mayor Eric Adams of New York City — who once spun his outdoor-dining policy as a way to promote flirting — getting behind a state-supported dating service. One could hear him announcing at a press conference: "We are extremely proud to introduce a new dating experience from America's mayor, called Adams &amp; Eve."<a target="_blank" rel="" href="https://www.businessinsider.com/author/eliza-relman">Eliza Relman</a> is a policy correspondent focused on housing, transportation, and infrastructure on Insider's economy team.

Japan's one weird trick to reverse population collapse

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

Startup workers are on edge

<ul class="summary-list"><li>In a losing year for US stocks, here are the 10 biggest percentage decliners on the S&amp;P 500. </li><li>Meta, Tesla, and Match made the cut as their shares veered toward losses of more than 60% each. </li></ul>Equity investors are no doubt eager to usher out 2022 after a turbulent year of sharp losses.Shaped greatly by Russia's war in Ukraine and central banks responding to soaring inflation with massive rate hikes, the relatively risky asset class was dragged into a bear market. The <a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a> was on course to fall about 20%, and the <a href="https://markets.businessinsider.com/index/nasdaq_composite">Nasdaq Composite</a> was looking at a decline of more than 30%. Looking at the carnage another way, about 70% of companies on the S&amp;P 500 were logging negative returns as 2022 wraps up. Large-cap tech stocks including <a href="https://markets.businessinsider.com/stocks/aapl-stock">Apple</a> and <a href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon</a> were beaten down as higher borrowing costs weigh on the value of future profits. With recession fears ramping up, high-profile tech companies including <a href="https://markets.businessinsider.com/stocks/meta-stock">Meta</a> and <a href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft</a> combined have <a href="https://www.businessinsider.com/tech-layoffs-2022-causes-outcomes-2022-11">laid off thousands of workers</a>. The 10 S&amp;P 500 companies that have experienced the largest stock-price declines heading into the end of 2022 have wiped out a combined market value of more than $1.6 trillion.Here are the benchmark index's 10 biggest losers in 2022 on a percentage basis. 10. PayPal <div type="image" title="Previews of the new rewards section of the PayPal app interface." height="3000" width="6000" msid="96547634" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/pypl-stock">PYPL </a> YTD Performance: -63.4% Market Value Decline: $142.49 billionLike many tech companies, the digital payments processor is seeing a slowdown after a pandemic boom. Net new accounts in the third quarter increased by 2.9 million compared with 13.3 million in the year-ago period. CEO Dan Schulman told analysts the macro environment looks difficult in part with inflationary pressures in Europe and in the US, and a potentially shallow recession in the US. The shares popped higher earlier in December, however, after <a href="https://www.altfi.com/article/10197_paypal-ceo-positive-outlook">Schulman reportedly said</a> fourth-quarter per-share earnings were tracking "slightly ahead" of its expectations. 9. V.F. Corp.<div type="image" title="The North Face" height="450" width="900" msid="96547636" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/vfc-stock">VFC </a> YTD Performance: - 64.4% Market Value Decline: $18.6 billionThe company behind The North Face, Supreme, <a href="https://www.businessinsider.com/vans-targeting-genx-millennials-new-releases-insoles-2022-12">Vans</a> and other apparel labels rounded off a rough year for its stock with the <a href="https://www.retaildive.com/news/vf-corp-ceo-exits-unexpectedly/637950/">unexpected departure of Steve Randle as CEO</a>. The Denver-based company said this year it's been navigating through a "more disrupted global marketplace," pockmarked by COVID-related issues in China and consumers facing economic uncertainty.8. Signature Bank <div type="image" title="2022 stock chart of Signature Bank's share-price performance." height="1042" width="1228" msid="96547639" hostid="261"></div> Ticker: <a href="https://markets.businessinsider.com/stocks/sbny-stock">SBNY</a> YTD Performance: -64.5% Market Value Decline: $12.4 billion"We are not just a crypto bank and we want that to come across loud and clear," <a href="https://www.coindesk.com/business/2022/12/06/signature-bank-to-reduce-crypto-tied-deposits-by-as-much-as-10-billion/">CEO Joe DePaolo reportedly said</a> at a Goldman Sachs investor conference this month. The bank's shares have been hit as the so-called crypto winter has slashed the cryptocurrency market's value from its high of more than $1 trillion and crypto deposits at the bank have declined. Signature anounced plans to reduce crypto-related deposits by $8 billion to $10 billion. The stock did rise on the mid-November day that Signature said its deposit relationship with collapsed crypto exchange FTX <a href="https://investor.signatureny.com/pme/press-releases/news-details/2022/Signature-Bank-Provides-Digital-Asset-Banking-Update/default.aspx">was less than 0.1% of its overall deposits</a>.7. Meta Platforms<div type="image" title="Mark Zuckerberg at Facebook's first ever retail location Meta Store" height="518" width="1037" msid="96547642" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/meta-stock">META</a> YTD Performance: -64.9% Market Value Decline: $611.17 billionInvestors have largely pushed back on <a href="https://www.businessinsider.com/why-mark-zuckerberg-cant-be-fired-as-meta-facebook-ceo-2022-11">CEO and major shareholder Mark Zuckerberg's</a> metaverse ambitions that led to the company's rebranding from Facebook last year. Its Reality Labs unit centered on virtual-world technology has <a href="https://www.businessinsider.com/meta-spent-15-billion-metaverse-reality-labs-what-costs-less-2022-10">lost nearly $20 billion</a> since last year. <a href="https://www.businessinsider.com/meta-mark-zuckerberg-metaverse-losses-facebook-brad-gerstner-open-letter-2022-10">One prominent investor</a> has called on Meta to cut back on its Reality Labs investment. Well aware of the backlash, <a href="https://www.businessinsider.com/mark-zuckerberg-metaverse-not-majority-were-doing-facebook-meta-focus-2022-11">Zuckerberg recently said</a> 80% of Meta's investments are still directed to its core social media business. The drop in Meta's valuation has sliced more than $80 billion off of <a href="https://www.bloomberg.com/billionaires/profiles/mark-e-zuckerberg/?sref=GUP2BhaG">Zuckerberg's vast wealth,</a> which recently stood at more than $44 billion.6. Tesla <div type="image" title="Tesla Motors CEO Elon Musk speaks to the media next to its Model S in Hong Kong on January 25, 2016." height="2731" width="5463" msid="96547644" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/tsla-stock">TSLA </a> YTD Performance: -65% Market Value Decline: $703.12 billionThe pummeling of the EV maker's stock price this year knocked CEO Elon Musk from his perch as <a href="https://www.businessinsider.in/business/news/elon-musk-becomes-the-second-richest-man-check-out-top-10-richest-people-name-and-networth/slidelist/96219815.cms">the world's richest man</a>. A few forces were at work here: Musk himself <a href="https://markets.businessinsider.com/news/stocks/elon-musk-tesla-stock-price-federal-reserve-interest-rates-hikes-2022-12">blames the Federal Reserve</a> for driving down Tesla's valuation, saying its aggressive rate hikes have pushed up US Treasury bond yields, boosting the appeal of that low-risk debt over relatively riskier assets. Meanwhile, <a href="https://markets.businessinsider.com/news/stocks/elon-musk-criticisms-twitter-stock-sales-tesla-investor-issues-complaints-2022-12?utm_medium=ingest&amp;utm_source=markets">some investors and analysts</a> say Tesla has been hurt by Musk's <a href="https://markets.businessinsider.com/news/stocks/elon-musk-tesla-stock-sales-twitter-debt-inflation-recession-fed-2022-12?utm_medium=ingest&amp;utm_source=markets">sales of billions of dollars worth of Tesla shares</a> and his focus on Twitter after his controversial $44 billion acquisition of the social media site in October. <a href="https://www.businessinsider.com/teslas-electric-vehicle-struggles-china-europe-preview-elon-musk-usa-2022-12">Supply chain problems in China</a> have also been a pressure point although the company has been able to log record monthly sales during 2022. For those watching Musk's net worth, it's fallen by more than $130 billion on the <a href="https://www.bloomberg.com/billionaires/profiles/elon-r-musk/?sref=GUP2BhaG">Bloomberg Billionaires Index</a>. 5. Catalent <div type="image" title="GettyImages 1228456459" height="1666" width="2223" msid="96547646" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/ctlt-stock">CTLT</a> YTD Performance: - 66.1% Market Value Decline: $15.1 billionThe contract manufacturer for pharmaceutical, consumer health and biotech companies, has worked on producing coronavirus vaccines for <a href="https://markets.businessinsider.com/stocks/mrna-stock">Moderna</a> and <a href="https://markets.businessinsider.com/stocks/jnj-stock">Johnson &amp; Johnson</a>. But with coronavirus infections slowing overall, the company has flagged "<a href="https://www.fool.com/earnings/call-transcripts/2022/08/29/catalent-ctlt-q4-2022-earnings-call-transcript/">headwinds from COVID-related volume declines</a>," and last month cut its <a href="https://www.sec.gov/Archives/edgar/data/1596783/000159678322000182/earningsreleaseex991-fy23x.htm">2023 revenue projection</a> to a range of $4.63 billion to $4.88 billion. 4. SVB Financial Group <div type="image" title="Silicon Valley Bank" height="2499" width="5000" msid="96547648" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/sivb-stock?miRedirects=1">SIVB </a> YTD Performance: - 68% Market Value Decline: $27 billionSilicon Valley Bank is a "good proxy for deal flow in Tech," Bespoke Investment Group said in October as SVB shares plunged double-digits following fourth-quarter results. The company has cut its 2022 outlook for net interest income as it's seen market challenges hitting liquidity flows to private companies and the overall tech landscape hurt by fears of recession and spiking borrowing costs. It's also been a rough year for innovative companies seeking to go public, with the<a href="https://markets.businessinsider.com/news/stocks/ipo-volume-global-2022-rates-hikes-inflation-nasdaq-nyse-markets-2022-12"> global IPO market volumes down 45%</a>. 3. Align Technology <div type="image" title="woman getting invisalign" height="999" width="1999" msid="96547650" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/algn-stock">ALGN</a> YTD Performance: - 69% Market Value Decline: $35.8 billion<a href="https://finance.yahoo.com/video/chinas-covid-19-lockdowns-really-145829862.html">CEO Joe Hogan told Yahoo Finance</a> earlier this year that high inflation and supply chain constraints pressured the company behind Invisalign clear braces. The "shutdowns in China really hurt our business," he said about its second-largest market. He made his observations months before China recently began easing restrictions in its strict zero-COVID policy, with economists broadly saying that should reinvigorate growth there - and <a href="https://markets.businessinsider.com/news/stocks/stock-market-risks-2023-outlook-china-inflation-economy-mortgages-rates-2022-12">perhaps re-ignite inflation</a>. 2. Match Group <div type="image" title="Tinder app" height="1183" width="2366" msid="96547652" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/mtch-stock">MTCH</a> YTD Performance: -69.3% Market Value Decline: $26.2 billion Shares of the parent company of Tinder, Match.com, Plenty of Fish and other dating sites have hit their lowest since publicly launching in 2015. The company has run into slowing revenue growth in part as younger and less affluent customers feel the pinch in their discretionary spending. Match says its visibility into 2023 is "challenging." 1. Generac Holdings<div type="image" title="Generac Generator installation" height="2577" width="5154" msid="96547656" hostid="261"></div>Ticker: <a href="https://markets.businessinsider.com/stocks/gnrc-stock">GNRC</a> YTD Performance: -73.8% Market Value Decline: $16.6 billion Mass COVID lockdowns helped sparked big demand for backup generators as people worked and studied at home. The power systems maker has since seen residential sales slow while commercial and industrial sales have grown. Generac last month slashed its 2022 sales outlook, driving the stock down further from its pandemic-era heights.

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