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The unsung warriors of 'The Price Is Right'

<ul class="summary-list"><li>Donald Trump's win is reducing uncertainty, boosting some employers' confidence about posting jobs.</li><li>Hiring experts anticipate a "Trump bump" for now despite concerns over tariffs and immigration.</li></ul>If you've been <a target="_blank" href="https://www.businessinsider.com/finding-job-awful-right-now-drop-in-openings-tough-search-2024-9">looking for a job</a> and haven't had any luck, that could be about to change.<a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-wins-presidential-election-race-2024-11">Donald Trump's decisive win</a> ends some uncertainty about the broad direction of the US — and extinguishes worries that there will be a drawn-out fight over the outcome.Executives focused on hiring told Business Insider that the newfound clarity is already making some employers more willing to post jobs."Our phone was basically ringing off the hook with companies looking to hire," Lief Larson, CEO of Salesfolks, a staffing firm focused on sales roles, told BI. "Regardless of your political persuasion, there is no doubt that the market is anticipating a Trump bump."Knowing who will occupy the White House is a help to employers, employment experts told BI, even as questions remain about the fallout from a potential <a target="_blank" class="" href="https://www.businessinsider.com/trump-tariff-threat-john-deere-economists-baffled-2024-9">increase in tariffs</a> or a reduction in immigration."Having the uncertainty behind us will prompt many — and encourage many — to start looking at increasing hiring," Tim Glowa, founder and CEO of HRbrain, which develops artificial intelligence tools for human resources, told BI.<h2 id="931ab304-0c3f-4e07-9067-9bcae5537e6c">Demand in tech</h2>It also helps that in the fourth quarter, some employers push to bring on people before the end of the year. Others prepare job descriptions to go up in January, said Michelle Volberg, a longtime recruiter who's founder and CEO of <a target="_blank" href="https://www.withtwill.com/">Twill</a>, a venture-backed startup that pays tech workers to recommend peers for key jobs."We're seeing a pretty healthy number of roles planning to be posted in January, probably more than we even expected," Volberg told BI. Volberg said she's seen an "upward trend" in the past 12 months that's now continuing."I don't see anything currently on the horizon that will challenge the US economy in any way," Volberg said.She said some of the demand is in tech, particularly from companies focused on AI looking to hire in engineering, product, sales, and marketing.That's welcome news because while the overall US unemployment rate remains low, some tech firms have been cutting in some roles and <a target="_blank" href="https://www.businessinsider.com/meta-job-cuts-indicate-tech-companies-like-recurring-layoffs-2024-10">slow to hire</a> in other areas — much to the <a target="_blank" href="https://www.businessinsider.com/job-seeker-applied-more-than-2000-roles-2024-9">frustration of job seekers</a>.Kathleen Lin Hurtubise, CEO and founder of Aloha Hospitality Professionals, a staffing firm focused on hospitality and light industrial workers, told BI that uncertainty over tax and immigration policies had led some of the company's customers to wait out the politics."We had a handful of clients who put us on pause until the elections," she said. Many employers, Hurtubise said, wanted to know how business decisions they had already made would likely play out once it became clear who would take the White House.<h2 id="11219916-ac03-49a8-ae71-be52cee6d5bf">More employers could turn to automation</h2>Jason Leverant, COO and president at AtWork Group, a staffing firm focused on areas including advanced manufacturing, logistics, and warehousing, told BI that a focus on bringing manufacturing jobs back to the US — so-called <a target="_blank" href="https://www.businessinsider.com/us-manufacturing-production-boom-economy-made-in-america-trade-war-2024-10">reshoring efforts</a> that are already underway — could further help boost momentum in hiring for workers <a target="_blank" href="https://www.businessinsider.com/employers-dropping-degree-requirements-slow-to-hire-for-skills-2024-10">without college degrees</a>.Yet, Leverant said, reshoring could be more expensive for employers and, when combined with talent shortages, could push more <a target="_blank" href="https://www.businessinsider.com/ai-wont-take-as-many-jobs-as-feared-altman-2024-9">companies to automate</a> where possible.Reduced immigration could also harm industries like construction and agriculture, where immigrants often fill many roles, he said."Do we start seeing a skills gap or a talent gap there?" Leverant said. He said such a chasm could eventually push wages higher in those areas if employers grow desperate for workers.Leverant said a focus by some in Trump's inner circle, including Tesla CEO Elon Musk, on areas like workplace <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-optimus-humanoid-robots-robotaxi-day-2024-10">automation</a> could mean as some aspects of jobs go away, workers who get the right training could take on "more complex roles that even advanced robotics can't touch right now."<h2 id="efdae223-ce1f-4c24-b0c3-4c4f63bde68d">A postelection rush to hire</h2>Aaron Cleavinger, a managing partner at Murdoch Mason Executive Search Group, told BI that he's been "inundated" with new search requests from clients since the election.He said that likely reflects a mix of the typical end-of-year ramp-up and also several months' worth of demand by employers, particularly in areas like manufacturing, that held off posting jobs because of political uncertainty."Anything that they've been delaying for the last couple of months, they're finally releasing," Cleavinger said, referring to employers and job postings.Cleavinger said that in many cases, employers might have been agnostic about which candidate won and instead just wanted to know which way it would break."They say, 'Hey, just tell me what I can count on, and then I can build a plan around that,'" he said.Cleavinger said demand for hiring will vary by industry, as it often does. Yet he said for small and medium-sized companies, optimism that there could be tax cuts could help boost budgets for hiring.<h2 id="dfe0f4e6-90ea-4cf9-bd4f-582908e761ca">Obstacles could emerge</h2>Even as some employers look to increase hiring, getting — and keeping — a job might get harder for some workers. Peter Rahbar, an employment attorney and founder of the boutique law firm The Rahbar Group, told BI that he expects to see an erosion of protections afforded to federal workers, including those seeking jobs.If enforcement of antidiscrimination laws becomes deprioritized, Rahbar said, that could make it harder for some people, including women and minorities, to land and retain jobs.Rahbar said reductions to immigration could hurt industries beyond agriculture and construction, including tech. That's because some tech companies needing workers rely on skilled immigrants to fill some roles.For now, though, Cleavinger, from Murdoch Mason Executive Search Group, expects demand for workers will generally heat up."I expect a pretty significant uptick in hiring. We usually see that anyway at the end of the year, but I think it'll be a little more pronounced now," Cleavinger said.

What Trump's election victory means for job seekers

<ul class="summary-list"><li>Experts have been weighing in on why Donald Trump won the US election.</li><li>They pointed to Trump's strength on immigration and the economy and a global trend of voters punishing incumbents.</li></ul>There's been an avalanche of analysis following Donald Trump's <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-wins-presidential-election-race-2024-11">victory</a> in the US presidential election on Wednesday, as experts <a target="_blank" class="" href="https://www.businessinsider.com/global-reaction-donald-trump-election-victory-tariffs-trade-disputes-2024-11">sought</a> to explain how the former president won a second term.They've offered a variety of reasons, ranging from a populist revolt against the elites to Vice President Kamala Harris' shortcomings as the Democratic candidate.Here is some of the best commentary we've seen.<h2 id="1dbed9eb-71c4-4a2e-b020-55984ea68b7b">Steve Hanke, Johns Hopkins University</h2>Hanke, professor of applied economics and former advisor to President Ronald Reagan, told Business Insider in an email: "The American voters have reacted negatively to the American elites who run the show in Washington, the media and so on and so forth. The election outcome was a revolt against the elites."<div type="image" title="Steve Hanke" height="2056" width="2876" msid="115028997" hostid="261" sizebytes="273344"></div><h2 id="a482e781-ed5e-4036-8353-8bd7360cc37a">Nate Cohn, chief political analyst at The New York Times</h2>"<a target="_blank" class="" href="https://www.nytimes.com/2024/11/06/upshot/trump-election-victory.html">Trump gained across the board</a> — including among the voters who seemed most skeptical of him eight years ago, from Hispanic voters in New York City to technology workers in San Francisco."None of this is what Democrats would have imagined a decade ago, when many of them assumed that demographic and generational change would bring a new Democratic majority. Instead, many of the voters whom Democrats viewed as the bedrock of their coalition grew so frustrated with the status quo that they decided to back Mr. Trump instead."<h2 id="7d3e8588-71be-466f-bbca-862acc528256">Tina Fordham, independent strategist and advisor</h2><a target="_blank" class="" href="https://www.linkedin.com/pulse/us-electionsbeyond-market-euphoriatrump-20-policy-bingo-tina-fordham-zzd3f/">"Trump's victory</a> is the most powerful example this year of a political and economic environment that has been brutal for incumbents around the world and brought home the fact that inflation is political kryptonite."This lesson will not soon be lost on governments — growth is not enough if prices are high and wages perceived to not keep pace. The dividing lines in US politics remain bright along geographical, educational, and gender lines, with Trump's strongest support coming from working-class men. This result will leave many Americans not only angry, but fearful.:On a global level, there is no getting away from the fact that Trump's victory will be transformational for both the US and the international system, with geopolitical and economic risks heightened."<h2 id="0f48b608-bdb9-4161-81db-e972ee4a57dc">Nate Silver, founder of FiveThirtyEight and author of the Silver Bulletin newsletter</h2>Silver republished a lengthy post from late October titled "<a target="_blank" class="" href="https://www.natesilver.net/p/24-reasons-that-trump-could-win">24 reasons that Trump won.</a>"Those reasons included inflation, negative perceptions of the economy and nostalgia for Trump's first term, sluggish wage growth, a cultural shift to the right, disillusionment among male and minority voters, and Harris' late nomination.Among Silver's other reasons were Trump's skill at convincing voters he's on their side and success in appealing to marginal voting groups; the Israel-Hamas war dividing the Democratic base; the assassination attempts on Trump boosting his favorability; and Harris' failure to explain her shift from left wing to moderate or articulate a clear vision for America.<div type="image" title="Nate Silver " height="2910" width="3978" msid="115028996" hostid="261" sizebytes="926368"></div><h2 id="cd87b061-0a72-4442-9fe7-4573c9e4074c">Matthew Yglesias, author of the Slow Boring newsletter</h2>"I think 'don't nominate women' would be the worst possible takeaway from this," Yglesias <a target="_blank" class="" href="https://x.com/mattyglesias/status/1854158785192907052">wrote on X</a>. "Lots of women overperform electorally, and since most Democrats are women if you become biased against nominating them you will cut the party off from talent. Learn from the ones who win!""Trump has made a lot of impossible and oft-contradictory promises and will have problems," Yglesias said in <a target="_blank" class="" href="https://x.com/mattyglesias/status/1854058474394566939">another X post</a>. He added in a follow-up tweet: "One obvious one is that Trump managed to both reassure a healthy slice of people about abortion rights while also retaining the enthusiastic support of people who really want to ban abortion. Hard needle to thread!"<h2 id="30bc6c65-8e3c-4fee-aad3-f93e66143c0d">Dominic Sandbrook, historian, commentator and author</h2>Sandbrook told <a target="_blank" class="" href="https://www.youtube.com/watch?v=WAyIAJCWVxA">The Rest is Politics podcast</a> that Kamala Harris failed to win sufficient support from female, Latino and Black voters, while Donald Trump had a "history of outperforming the polls … particularly in rural areas and the South and the suburbs." He argued that Harris and Hillary Clinton had similar weaknesses, with a proportion of the electorate unwilling to consider a female commander in chief.Many voters were also "suspicious" of a mixed-race woman from California who "appears to be the embodiment of, for want of a better expression, the metropolitan liberal elite," Sandbrook said.<h2 id="765cb88d-3d89-4393-acb3-cb2304fdb96c">Eric Corellessa, national political correspondent at TIME</h2>"The <a target="_blank" class="" href="https://time.com/7172052/how-donald-trump-won-2024/">Democrats' hasty replacement</a> of the first-term president with Harris deprived them of a better-tested candidate who could potentially have rallied broader support. Voters took Trump's own advanced age and increasingly incoherent trail rhetoric in stride. Much of the country read Trump's legal woes as part of a larger corrupt conspiracy to deny him, and them, power. And he benefited from a global restiveness in the wake of the COVID-19 pandemic that has ousted incumbent leaders around the world."Whenever abortion came up, Trump insisted the issue was now up to the states, and pivoted as much as possible to the economy, immigration, and crime—issues the campaign believed triggered anxiety with well-to-do suburban women who were open to backing him."Musk also turned X, his social-media platform, into a cauldron of conspiracy theories and characterized the stakes of the race to his more than 200 million followers as existential."

These 7 experts explain why Trump won, Harris lost — and what the election result means

<ul class="summary-list"><li>Tesla shareholders might have another reason to vote for Elon Musk's pay package this Thursday.</li><li>Musk has been touting the benefits of having Tesla be a part of his business empire. </li></ul><a target="_blank" href="https://www.businessinsider.com/tesla">Tesla</a> CEO <a target="_blank" href="https://www.businessinsider.com/elon-musk">Elon Musk</a> has been pulling out all stops to woo shareholders ahead of Thursday's vote for his massive <a target="_blank" href="https://www.businessinsider.com/judge-strikes-down-elon-musk-tesla-compensation-pay-package-2024-1">$56 billion pay package</a>.Besides <a target="_blank" href="https://x.com/elonmusk/status/1799577948262957370">campaigning</a> on his social media platform X, Musk has also dangled the opportunity of a <a target="_blank" href="https://x.com/Tesla/status/1795410566099374251">guided tour of Gigafactory Texas</a> with him and Tesla's design chief, <a target="_blank" href="https://www.businessinsider.com/teslas-design-chief-leads-workouts-in-parking-lot-2024-2">Franz von Holzhausen</a>.But those seem just to be appetizers because Musk has now brought out the big guns — promising shareholders that a Musk-led Tesla will have access to his sprawling business empire.<h2 id="4a0dec84-4be2-427f-9204-4fb5359b4e90">A ticket to the 'Muskonomy'</h2>The pitch is a smart move for Musk, as it turns what <a target="_blank" href="https://www.businessinsider.com/tesla-shareholders-criticize-elon-musk-nvidia-chips-pay-package-2024-6">looks like a liability</a> — running half a dozen companies at the same time — into an asset.Nowhere was that vision clearer than on Sunday, when Musk began touting the benefits of having Tesla as a part of his business universe.Musk's <a target="_blank" href="https://www.businessinsider.com/elon-musk-the-boring-company">The Boring Company</a> revealed in an <a target="_blank" href="https://x.com/boringcompany/status/1799937765028835341">X post</a> that its tunneling machine, the <a target="_blank" href="https://www.boringcompany.com/prufrock">Prufrock-3,</a> had emerged inside the Gigafactory Texas' expansion. The tunnel that is being constructed will soon be used to transport Tesla's <a target="_blank" href="https://www.businessinsider.com/tesla-truck-cybertruck">Cybertrucks</a>."Cybertunnel will be online July," the post said.It's not just hardware. Musk is looking to leverage the software built by his <a target="_blank" href="https://www.businessinsider.com/elon-musk-xai-raised-6-billion-funding-vc-saudi-arabia-2024-5">$24 billion AI startup, xAI</a>.The billionaire was <a target="_blank" href="https://x.com/cyb3rgam3r420/status/1799935298803208282">livestreaming himself playing Diablo</a> on X when he revealed that Tesla's cars could come installed with xAI's chatbot, <a target="_blank" href="https://www.businessinsider.com/how-to-use-grok-elon-musk-ai-chatbot-2023-12">Grok,</a> in the future.Besides cross-pollinating his companies' tech, Musk is also promising multiple windfalls to Tesla shareholders if they stick with him.On Saturday, Musk said he would prioritize "<a target="_blank" href="https://x.com/elonmusk/status/1799621606744162548">longtime shareholders of my other companies, including Tesla</a>" if any of his businesses were to go public."Loyalty deserves loyalty," he wrote on X.Musk might not have spelled it out, but his X post sounded like a veiled reference to the <a target="_blank" href="https://markets.businessinsider.com/news/stocks/elon-musk-spacex-starlink-ipo-stock-market-investors-billionaire-finance-2023-11">long-rumored IPO</a> for his satellite internet business, <a target="_blank" href="https://www.businessinsider.com/elon-musk-starlink-satellites-internet">Starlink</a>.To be sure, this isn't the first time Musk has leveraged his network of businesses.xAI had earlier sold investors on the benefits of being a part of what it called the "<a target="_blank" href="https://www.businessinsider.com/elon-musk-ai-startup-courting-investors-with-access-to-muskonomy-2024-2">Muskonomy</a>," Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-02-05/xai-potential-investors-focus-on-muskonomy-openai-success">reported</a> in February, citing a pitch deck it had obtained.In its pitch deck, the company said that Tesla and X were its strategic partners, and it would provide them with training data.Similarly, when <a target="_blank" href="https://www.businessinsider.com/elon-musk-twitter">Musk bought Twitter</a> in October 2022, he quickly brought in software engineers from Tesla and SpaceX to review the social media company's code base.In fact, some of Musk's lieutenants are still double hatting at his companies. For instance, SpaceX's principal security engineer, <a target="_blank" href="https://www.linkedin.com/in/stanleynetworks/">Christopher Stanley,</a> is also X's head of information security."The right thing for Tesla at this time is for Elon to continue to be at the helm, and this ratification of the compensation plan is exactly about that," Tesla board chair Robyn Denholm <a target="_blank" href="https://www.youtube.com/watch?v=jnG5swxLi6A">told</a> CNBC on June 6.Representatives for Musk did not immediately respond to a request for comment from BI sent outside regular business hours.

Elon Musk is pitching a daring idea to Tesla shareholders: A vote for Musk is a ticket to the 'Muskonomy'

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Hello! If your eyes are hurting after looking at yesterday's solar eclipse, <a target="_blank" href="https://www.businessinsider.com/eyes-hurt-after-solar-eclipse-solar-retinopathy-2017-8">here's what could be wrong with them</a>. (Yes, "sunburned eyes" is a thing.)In today's big story, we're looking at <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-jpmorgan-ai-extraordinary-consequences-transformative-internet-electricity-2024-4">Jamie Dimon's annual letter to shareholders</a> and <a target="_blank" rel="noopener" href="https://www.businessinsider.com/jamie-dimon-shareholder-letter-manifesto-us-exceptionalism-policy-trade-ukraine-2024-4">why this edition is so different</a>.What's on deck:<ul><li>Markets: More lending is taking place outside banks, and <a target="_blank" href="https://markets.businessinsider.com/news/funds/private-credit-risk-leverage-debt-interest-rates-imf-financial-stability-2024-4">it's got the IMF worried</a>.</li><li>Tech: These are the European <a target="_blank" href="https://www.businessinsider.com/these-are-the-32-most-exciting-fintech-startups-europe-2024-2024-2">fintech startups to watch this year</a>.</li><li>Business: Aspiring (human) influencers will soon <a target="_blank" href="https://www.businessinsider.com/gen-z-influencer-marketing-career-goal-ai-social-media-instagram-2024-4">have to compete with AI influencers</a>.</li></ul>But first, Jamie's got something to say.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3>The big story</h3><h2>Dimon sounds off</h2><div type="image" title="A photo illustration of Jamie Dimon in the foreground, with the Earth behind him." height="900" width="1200" msid="109167879" hostid="261" sizebytes="114636"></div>When Jamie Dimon talks, people tend to listen. And this time around, he had a lot to say.Dimon's annual letter to shareholders grabs the business world's attention in ways most executives can only imagine. (BlackRock's Larry Fink falls into this camp as well.)The letter goes beyond a recap of JPMorgan's current state, often opining on the biggest issues facing the US and global economies.Unsurprisingly, <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-jpmorgan-ai-extraordinary-consequences-transformative-internet-electricity-2024-4">artificial intelligence was the topic du jour</a> this time around. Dimon described the tech as just as innovative and impactful as the printing press, steam engine, electricity, and the internet, writes Business Insider's Jyoti Mann.But the letter also came with a <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-jpmorgan-letter-war-inflation-recession-rates-economy-ai-2024-4">fair bit of skepticism about the state of the world</a>, BI's Theron Mohamed writes. Dimon highlighted geopolitical tensions as a reason not to be so optimistic about the future.It wasn't all doom and gloom. A good chunk of Dimon's letter covered <a target="_blank" rel="noopener" href="https://www.businessinsider.com/jamie-dimon-shareholder-letter-manifesto-us-exceptionalism-policy-trade-ukraine-2024-4">economic policy changes he'd make in the US</a>, writes BI's Juliana Kaplan. Some of his ideas included the importance of the US involvement in global conflicts and "repairing the frayed American dream."<div type="image" title="Jamie Dimon" height="1000" width="2000" msid="109167880" hostid="261" sizebytes="206188"></div>Dimon's letter reads a lot more like someone vying to move into 1600 Pennsylvania Ave than the CEO of a bank.Dimon's <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-career">entire career has been in business</a>, but he's <a target="_blank" href="https://www.businessinsider.com/jpmorgan-ceo-jamie-dimon-considers-politics-bill-ackman-president-election-2023-6">hinted at getting into politics</a> when he departs JPMorgan.In 2016, he even said he'd <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-i-would-love-to-be-president-of-the-united-states-2016-9">"love" to be president</a> but acknowledged it'd be a long shot due to his lack of political experience.That didn't stop him from outlining some of his plans if he were to take office.Last fall, he explained <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-president-tax-the-rich-loophole-billionaires-bill-ackman-2023-11">what he'd do during his first 100 days in office</a>. It included building a bi-partisan cabinet, removing the carried-interest loophole, and focusing on growing the economy.But Dimon's centrist approach — "<a target="_blank" href="https://www.businessinsider.com/jamie-dimon-best-quotes-2019-3#my-heart-is-democratic-but-my-brain-is-kind-of-republican-12">My heart is Democratic but my brain is kind of Republican</a>" — likely makes him a long-shot candidate for office.Even as we head toward a presidential rematch <a target="_blank" href="https://www.businessinsider.com/trump-biden-clinch-party-nominations-race-few-people-want-president-2024-3">most Americans didn't want</a>, catering to both sides of the aisle has proven difficult. Multiple politicians declined serving as the presidential candidate for the <a target="_blank" href="https://www.businessinsider.com/no-labels-candidates-status-unity-ticket-2024-2024-3">centrist group No Labels</a>, ultimately forcing it to end its bid to run a ticket this November.The polarization of politics was something Dimon touched on in his letter, urging people to resist being "weaponized.""We can start by trying to understand other people's and other voters' points of views, even around deeply emotional topics. We can stop insulting whole classes of voters."<h2>3 things in markets</h2><div type="image" title="A gold bear figurine (left) and a gold bull figurine (right)." height="1000" width="2000" msid="109167882" hostid="261" sizebytes="159934"></div><ol><li>A lot of lending is taking place without much transparency. What could possibly go wrong? The International Monetary Fund posted a blog <a target="_blank" href="https://markets.businessinsider.com/news/funds/private-credit-risk-leverage-debt-interest-rates-imf-financial-stability-2024-4">warning about the rise of private credit lending</a> done outside the walls of a regulated banking institution. The sector, which topped $2.1 trillion last year, is largely unsupervised, making it "hard to understand how systemic risks may be building."</li><li>There's still a case for a recession. Economist David Rosenberg cited <a target="_blank" href="https://www.businessinsider.com/recession-outlook-hard-landing-economy-unemployment-job-market-david-rosenberg-2024-4">the famous recession indicator the Sahm Rule</a>, which flashes when the three-month moving average of the US unemployment rate climbs 50 basis points from a 12-month low. While not triggered yet, it and other under-the-radar recession warnings are signaling trouble, he added.</li><li>Asia-based hedge funds are eyeing up the Middle East. Firms need plenty of talent — but there are question marks hanging over both Hong Kong and Singapore. Many hedge funds are considering <a target="_blank" href="https://www.businessinsider.com/asia-multi-strat-hedge-funds-booming-tapping-middle-east-talent-2024-4">expanding westward into new hot spots like Dubai and Abu Dhabi</a>.</li></ol><h2>3 things in tech</h2><div type="image" title="Google and Microsoft logo" height="650" width="1300" msid="109167883" hostid="261" sizebytes="40018"></div><ol><li>An all-out AI talent war may soon be underway. Microsoft is opening an AI division in London — which happens to be home to Google's DeepMind. Google is already <a target="_blank" href="https://www.businessinsider.com/microsoft-ai-talent-war-with-google-artificial-intelligence-2024-4">trying to stop bleeding talent</a>, and may now have to work even harder.</li><li>Keep an eye on these European fintech startups. For <a target="_blank" href="https://www.businessinsider.com/these-are-the-32-most-exciting-fintech-startups-europe-2024-2024-2">our annual list of the hottest European fintechs</a>, Business Insider asked venture capitalists to name which startups they're most excited about. The result is a list of 32 promising fintechs, spanning payments, insurance, and more.</li><li>Elon Musk is turning X back into Twitter. With Tesla floundering, Musk appears to be <a target="_blank" rel="noopener" href="https://www.businessinsider.com/elon-musk-turning-x-back-into-twitter-2024-4">fortifying his other businesses</a>. "I think the whole thing about making X something dramatically different and reinventing the wheel hasn't really happened, so we're seeing a return to the basics," Gabor Cselle, a former project manager on Twitter's trends team, told BI.</li></ol><h2>3 things in business</h2><div type="image" title="An illustration of the back of a person who's facing a ring light." height="1000" width="2000" msid="109167884" hostid="261" sizebytes="498606"></div><ol><li>AI is ruining the Gen Z dream of becoming an influencer. A recent poll found that more than half of Gen Zers want to be full-time influencers. In addition to the already-saturated market of human influencers, <a target="_blank" href="https://www.businessinsider.com/gen-z-influencer-marketing-career-goal-ai-social-media-instagram-2024-4">they'll soon have to compete with artificial-intelligence influencers</a> — and who can really compete with that?</li><li>Saving for retirement has never felt scarier — or more confusing. Until about the 1980s, American workers typically got pensions in retirement. Now, however, they've shifted to plans like 401(k)s or IRAs, <a target="_blank" rel="noopener" href="https://www.businessinsider.com/retirement-social-security-gen-z-millennials-uncertainty-fears-pensions-2024-4">which have a bunch of downsides</a>.</li><li>Warner Bros. Discovery can start selling itself. Restrictions that prevented the combined company from buying or selling anything without a huge tax penalty expired on Monday. But very little media M&amp;A is happening right now, <a target="_blank" rel="noopener" href="https://www.businessinsider.com/warner-bros-discovery-sale-buyer-reverse-morris-trust-2024-4">for a couple of reasons</a>.</li></ol><h2>In other news</h2><ul><li><a target="_blank" href="https://businessinsider.com/trump-is-suing-his-hush-money-judge-2024-4/">Trump is suing his hush-money judge</a>.</li><li><a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/solar-eclipse-photos-totality-us-2024-4">The best photos of the 2024 solar eclipse</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/apple-oled-ipad-pro-screen-report-2024-4">It's been ages since Apple released a new iPad. A fancy new screen is expected for next month</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/investors-want-to-separate-finance-ceos-from-their-chair-seats-2024-4">The big challenge for Wall Street CEOs this spring: keeping both of their jobs</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/microsoft-ai-ceo-mustafa-suleyman-london-hub-2024-4">Read Mustafa Suleyman's first blog as CEO of Microsoft AI</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/nutritionist-cut-down-ultra-processed-food-lunch-before-after-2024-4">A nutritionist who cut down on ultra-processed foods shares what he used to eat for lunch and what he eats now</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/how-companies-are-teaching-workers-ai-skills-2024-4">How companies are selling their workers on learning AI</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/taiwan-semiconductor-tsmc-biden-microchips-chips-act-election-china-arizona-2024-4">Microchip giant TSMC strikes $11.6 billion deal with Biden to boost production in Arizona</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/ukraine-will-lose-war-russia-congress-funding-not-approved-zelenskyy-2024-4">Zelenskyy straight-up said Ukraine is going to lose if Congress doesn't send more aid</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/no-jail-for-marvel-actor-jonathan-majors-2024-4">No jail for Marvel actor Jonathan Majors after judge agrees to DA-recommended domestic violence program</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/billionaire-backed-harvard-prof-says-science-should-take-ufos-seriously-2024-4">A Harvard professor is risking his reputation to search for aliens. Tech tycoons are bankrolling his quest</a>.</li></ul><h2>What's happening today</h2><ul><li>The parents of the Oxford High School shooter will be sentenced.</li><li>Boeing is announcing its Q1 deliveries.</li></ul>The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/hallam-bullock">Hallam Bullock</a>, senior editor, in London. <a target="_blank" href="https://www.businessinsider.com/author/george-glover">George Glover</a>, reporter, in London.

Jamie Dimon had a lot to say in his annual letter to shareholders

<ul class="summary-list"><li>Women voters could prove key to Kamala Harris' election bid.</li><li>Women tend to register and vote at higher rates than men.</li></ul>With the US election drawing ever nearer, both Vice President Kamala Harris and former President Donald Trump are turning their attention to a few specific voter groups in <a target="_blank" class="" href="https://www.businessinsider.com/battleground-states-2024-presidential-election-road-white-house-2022-12">a number of key swing states that will likely determine who will be sitting in the White House come January</a>.One group where Harris will hope to make big gains is women, who tend to register and vote at higher rates than men.And it seems to be going well for the vice president so far.Since President Joe Biden dropped out of the running for the election in late July, a number of polls have shown women leaning increasingly toward the Democrats. A recent national Suffolk University/USA Today poll showed women favored Harris by 21 points.A key area closely connected to gender voting patterns — and which has helped tip elections toward the Democrats in recent years — is abortion rights.After the Roe v. Wade ruling was overturned in 2022, ending women's right to abortion nationally, the US saw a rise in reproductive rights activism as many states imposed abortion restrictions or bans. Harris' campaign has sought to build on their concerns and activism.Harris reshaped the election race by "advocating for women's health, reproductive freedom and abortion access more vocally and more powerfully than Biden did and than the Trump/Vance ticket is," Shana Gadarian, a professor of political science at Syracuse University, has <a target="_blank" class="" href="https://news.syr.edu/blog/2024/07/25/not-all-women-will-vote-for-kamala-harris-but-a-lot-might/">said</a>."She ties access to reproductive care to a theme of progress and freedom in ways that Biden did not," she added.Women-led political action committees (PACs) and organizations have also been rallying behind the vice president over the issue.Ali Monge, the head of the Women for American Values and Ethics PAC, told Business Insider that in a post-Roe world, women "want our voices heard.""Women are fired up again, and [Harris] being a minority as well says a lot. It's pretty empowering and a lot of youth are excited about that," she added.Jessica Mackler, the president of EMILY'S List, another PAC that supports abortion rights, said, "The energy and excitement that we see around the vice president's candidacy are because she has led her whole life on issues that really matter to women voters and matter to voters across the country, like reproductive freedom."For his part, Trump seems well aware of the threat the gender gap poses to his election bid, and he has continued to try to walk a fine line on issues like abortion by keeping the Evangelical voters in his base enthused without sacrificing women who support abortion access. He has <a target="_blank" class="" href="https://apnews.com/article/abortion-trump-harris-contraception-debate-vance-2f11a66ab4619fcb3d9917ee51a9c060">avoided answering</a> repeated questions about whether he would veto a national abortion ban.In August, Trump wrote on Truth Social: "My Administration will be great for women and their reproductive rights" — that's despite his previous claims that he was the most "pro-life president" in history.<h2 id="93477451-47aa-4c91-8e85-5b4066e6e158">Greek life</h2><div type="image" title="Donald Trump and Kamala Harris at their first presidential debate in Philadelphia, Pennsylvania." height="768" width="1024" msid="113548355" hostid="261" sizebytes="34600"></div>Harris is also looking to her sorority sisters for support as the election looms.The vice president is a member of Alpha Kappa Alpha, the US's oldest Black sorority and part of the National Pan-Hellenic Council — more commonly known as the Divine Nine.The roughly 4 million members that make up the council could play an important role in drumming up support for Harris, with members having <a target="_blank" class="" href="https://www.npr.org/sections/codeswitch/2020/11/09/933117256/in-harris-black-sororities-and-fraternities-celebrate-one-of-their-own">previously backed her</a> as she rose through the political ranks."We have nine organizations, and if we all mobilize as we have, we're going to get the vote out," Tonya Ly, a founding member of the Run Sister Run PAC, told BI."They've already sent out a statement to mobilize because they can't directly endorse a candidate, but they can mobilize and get voters out. So they're having voter registration drives. They're figuring out how to get people to the polls. This happens every year, but it's on a larger scale now because we want change in the country," she added.Black women are also getting behind Harris' running mate, Tim Walz, who has established himself as a reproductive rights messenger in his own right.As governor of Minnesota, Walz has signed legislation to establish a new Office for Missing and Murdered Black Women and Girls and has also sought to protect abortion laws."He is the right white man for the job," Brenda Coles, a Virginia-based activist told <a target="_blank" class="" href="https://www.politico.com/news/2024/08/21/black-women-tim-walz-00175662">Politico</a>.Walz has also opened up about his own family's fertility journey."Even if you've never experienced the hell of infertility, I guarantee you know somebody who has," Walz said at the DNC in August. "I remember praying each night for a call with good news, the pit in my stomach when the phone would ring, and the agony when we heard the treatments hadn't worked.""I'm letting you in on how we started our family because that's a big part of what this election is about—freedom," he added.Walz also offers a sharp contrast to Trump's VP pick, JD Vance, who has faced public backlash over a number of controversial resurfaced comments about women, including his now infamous labeling of Harris and other high-profile Democrats as "childless cat ladies."Announcing her endorsement of Harris on Instagram, pop star Taylor Swift made particular note of the two candidates' running mates, saying she had been "heartened and impressed" by Harris' selection of Walz as he had "been standing up for LGBTQ+ rights, IVF, and a woman's right to her own body for decades."She also took the opportunity to take a jab at Vance, signing off her post: "Taylor Swift ... Childless Cat Lady."<h2 id="f2aedbc2-a106-42fb-82c5-614b14e86171">The Swift effect</h2><div type="image" title="A composite image of Taylor Swift smiling as she performs with a guitar onstage and of Kamala Harris speaking from a podium and pointing upward." height="1500" width="2000" msid="113548356" hostid="261" sizebytes="216592"></div>Harris has received a host of major celebrity endorsements since Biden dropped out of the race, including <a target="_blank" class="" href="https://www.businessinsider.com/taylor-swift-kamala-harris-instagram-twitter-elon-musk-2024-9">big names like Swift</a> and <a target="_blank" class="" href="https://www.businessinsider.com/hollywood-endorse-kamala-harris-george-clooney-charlixcx-2024-7">Billie Eilish</a>. Beyoncé has also seemingly shown her support for the vice president, allowing her to use her song "Freedom" for her presidential campaign — the same song <a target="_blank" class="" href="https://www.rollingstone.com/music/music-news/beyonce-threatens-cease-and-desist-trump-campaign-freedom-video-1235084830/">she moved to block Trump from using</a>.While celebrity endorsements are typically unlikely to have too much of an effect on voting, there are exceptions.And Swift and Beyoncé have the kind of global followings that could generate a sizable impact.As Darrell West, a senior fellow in the Governance Studies program at the Brookings Institution <a target="_blank" class="" href="https://www.brookings.edu/articles/how-beyonce-and-taylor-swift-endorsements-could-help-harris/">writes</a>: "The musicians' strong followings among young people, African Americans, and women, combined with their demonstrated ability to amplify another individual's messages, would suggest they could be very helpful to Harris.""In a close race, little things matter so it is possible that Swift/Beyoncé endorsements could be decisive in areas where the vice president needs a boost," he continued, adding: "These superstar endorsements could matter in exactly the same way as when Winfrey helped Obama more than a decade ago."

How reproductive rights, Greek life, and celebrity endorsements could prove key to Kamala Harris' bid for women voters 

<ul><li>STT increased on futures and options trading </li><li>Changes in <keyword id="22258595" type="General" weightage="20" keywordseo="TDS-rates" source="keywords">TDS rates</keyword> (from 5% to 2%) on payments for life insurance policy, brokerage </li><li>Buybacks to be treated as dividends for taxation purposes</li><li>Small savings account rates left unchanged for Oct-Dec 2024</li></ul>Starting October 1st, a lot is set to change with your money. From <keyword id="20852321" type="General" weightage="100" keywordseo="FO-trading" source="keywords">F&amp;O trading</keyword> (futures and options) and buybacks getting more expensive in the hands of the individual, to changes in TDS slabs for payments concerning life insurance, brokerage, and more, here's a ready reckoner for all that you need to know: 1. STT upped for F&amp;O (Futures and Options) trading This budget, in a bid to discourage retail investors from burning their hands in the highly risky F&amp;O segment, the government had proposed raising the STT (securities transaction tax) for both futures and options. Starting today, you will have to pay an STT of 0.1% on premium earned from option sales, as opposed to 0.0625% previously. As for futures, the STT is set to rise to 0.02% of trade price, up from its previous mark of 0.0125%. Notably, STT is levied every time an individual purchases or sells a security, which significantly increases its incidence and coverage. For instance, if the trading price of the futures you're selling today is Rs 1,000, you'd have to pay Rs 0.2 as STT today. Till September 30th, the STT applicable would be Rs 0.12. Similarly, for options, if the settlement price of your options contract is Rs 1,000, your STT payable today would be Re 1, which earlier stood at Rs 0.625 While this may sound super inconvenient for frequent or intraday traders, a recent SEBI study has highlighted that a staggering 93% individual traders have incurred just losses while trading in the F&amp;O segment between FY22 and FY24, with the total losses exceeding Rs 1.8 lakh crore during this period. Only a tiny 1% traders managed to rake in profits above Rs 1,00,000. Perhaps SEBI is thinking along the lines of prevention being better than cure? 2. Changes in Debit card rules for ICICI bank ICICI debit card users, who also happen to be frequent flyers, listen up! Starting today, you will be able to access the complimentary airport lounge service twice, but only if you have spent Rs 10,000 or more via your card in the previous quarter. So, suppose you've spent just Rs 8,000 between July-September 2024 via your ICICI debit card. Since this falls below the Rs 10,000-threshold, you wont be able to access complimentary airport lounge service two times between October-December 2024. 3. Changes in rules for PPF, small savings account The interest rates on various small savings schemes were left unchanged by the Finance Ministry for the upcoming quarter i.e. October-December 2024. For this quarter, Public Provident Funds (PPF) will earn you 7.1% interest p.a., while Sukanya Samriddhi Yojana (SSY) and Senior Citizens Savings Scheme (SCSS) will offer interest at the rate of 8.2% p.a. <div type="Article" hostid="261" msid="113692667" title="Attention! Here's what's changing with your PPF accounts starting 1st October, 2024" mstype="2" mssubtype="0"></div> Also, these changes in PPF accounts will kick in from today: <ul><li>Have a PPF account in your child's name i.e. a minor? This account would earn the same interest as a POSA (Post Office Savings Account) i.e. at 4% p.a. currently. Once your child turns 18, the prevailing PPF interest rate, which is presently at 7.1%, will be levied. </li><li>No more interest earning via multiple PPF accounts! Starting today, only your primary PPF account will be eligible for interest. </li><li>Are you an NRI who currently holds an active PPF account, and you have not disclosed your residency status in Form H (used to extend the tenure of your PPF account by blocks of 5 years)? Starting today, such accounts will earn zero interest. </li></ul>4. Buyback set to get more expensive Buybacks happen when a company decides to buy back its own shares from its existing shareholders. What's in for the shareholders, you ask? The buyback price is usually higher than what is offered by the markets. You are eligible to participate in a company's buyback if you hold its shares on or before the record date that's set by the company. Starting today, buybacks will be treated just like dividends. This means starting today, the burden of tax payable on buybacks will fall on the shareholders selling the shares, and not the company. Buybacks will be taxed as per the individual's personal income tax bracket. 5. Revision of TDS rates Starting today, the TDS (tax deducted at source) on various payments you make for life insurance, lottery tickets and more is also set to change. Here's how TDS rates will look, starting today: <table class="redcator-table-advance"><tbody><tr><td>Category </td><td>Previous TDS rate</td><td>New TDS rate (Effective October 1st, 2024)</td></tr><tr><td>Payment made towards life insurance policies</td><td>5%</td><td>2%</td></tr><tr><td>Commission earned on sale of lottery tickets </td><td>5%</td><td>2%</td></tr><tr><td>Payment of commission/ brokerage </td><td>5%</td><td>2%</td></tr><tr><td>Payment of rent by certain individuals/HUF </td><td>5%</td><td>2%</td></tr><tr><td>Payment made by e-commerce operators/platforms to e-commerce participants/sellers </td><td>1%</td><td>0.1%</td></tr></tbody><tbody></tbody><tbody></tbody></table>

Attention! Here's what's changing with your PPF, F&O trading, and buybacks, starting today!

On Monday, as part of its Worldwide Developers Conference, <a target="_blank" href="https://www.businessinsider.com/apple-wwdc-event-live-updates-keynote-announcements-2024-6">Apple unveiled software features</a> for its various products, including the iPhone and the iPad. The most anticipated part of the show was getting details on how the company would integrate artificial intelligence into its phones and operating systems.During the presentation, Apple executives showed off how <a target="_blank" href="https://www.businessinsider.com/what-the-new-apple-intelligence-ai-can-do-2024-6">the tech giant's AI system</a> — which they pointedly referred to as Apple Intelligence instead of artificial intelligence — could help with searching texts and photos, creating images, fixing grammar and spelling, summarizing text, and editing photos.After the announcement, <a target="_blank" href="https://www.businessinsider.com/apple-intelligence-ai-wwdc-new-phone-iphone-sales-2024-6">tech pundits</a>, extremely online billionaires, and <a target="_blank" href="https://forums.macrumors.com/threads/who-else-find-this-years-update-is-so-underwhelming.2428649/">cheap seats the world over</a> complained that the <a target="_blank" href="https://www.businessinsider.com/apple-doing-ai-own-terms-tim-cook-openai-2024-6">features were small potatoes</a>. CNET's Katie Collins wrote that Apple's most interesting new features were long overdue, <a target="_blank" href="https://www.cnet.com/tech/mobile/apples-best-new-iphone-and-ipad-features-are-way-way-overdue/">summing up her reaction as "finally."</a> Bloomberg's Mark Gurman called them "<a target="_blank" href="https://news.bloomberglaw.com/artificial-intelligence/apples-scramble-to-add-ai-will-take-years-to-pay-off-power-on">minor upgrades</a>." My <a target="_blank" href="https://www.businessinsider.com/apple-needs-more-than-ai-to-get-new-customers-2024-6">colleague Jordan Hart</a> said they weren't the silver bullet Apple needed to reinvigorate the company. And Elon Musk registered his disappointment by <a target="_blank" href="https://www.businessinsider.com/elon-musk-underwhelmed-aspects-apple-wwdc-app-icons-calculator-2024-6?amp">sharing a stupid meme</a>. In sum, many people are underwhelmed by Apple's practical integration of AI. Sure, maybe summarizing long emails and making transcripts of calls sounds boring compared with conjectures that AI could be used to <a target="_blank" href="https://medcitynews.com/2024/01/how-artificial-intelligence-could-be-the-ultimate-weapon-against-cancer/">detect cancer earlier</a>, but guess what? Apple's scale and specificity of vision also make it the first Big Tech company to get AI integration right.Apple is using AI to do what the technology has proved it can do: be an assistant. Yes, the virality of OpenAI's ChatGPT-3 put AI's potential on display. But using AI to power a <a target="_blank" href="https://www.businessinsider.com/elon-musk-openai-robot-housework-2016-6">robot that does your chores</a> or to answer open-ended questions is still extremely imperfect. Chatbots lie, they hallucinate, <a target="_blank" href="https://www.businessinsider.com/google-search-ai-overview-answers-pizza-glue-fix-2024-5">they tell my colleagues to eat glue</a>. Google's rollout and <a target="_blank" href="https://www.businessinsider.com/google-scales-back-ai-in-search-feature-overviews-eat-glue-2024-5">subsequent rollback</a> of offering AI answers to people's search queries is just one sign that the current iteration of the tech isn't ready for all the use cases Silicon Valley is dreaming about — to say nothing of <a target="_blank" href="https://www.businessinsider.com/marc-andreessen-plan-use-ai-save-the-world-regulation-startups-2023-6">the venture capitalist Marc Andreessen's claims</a> that AI will be able to "save the world," "improve warfare," and become our therapists, tutors, confidants, and collaborators, ushering in a "golden age" of art.Apple's updates are an appeal for everyone to get a grip. They are a clarion call for other tech companies to be practical with what they promise consumers and to deliver AI products that make our lives incrementally easier instead of confusing us with overpromises. Apple's use of the best of AI is also the best way for normal people to develop an understanding of what it can do. This is a way to build trust. Sure, maybe one day AI will figure out how to destroy civilization or whatever, but right now it's best at finding that photo of your dog dressed as a pickle you took back in 2019. And for the vast majority of people, that's perfectly fine.<h2>What does AI do?</h2>The fact that people are disappointed in Apple says more about the hype around AI's capabilities than <a target="_blank" href="https://www.businessinsider.com/apple-hired-ex-googler-lead-ai-efforts-but-fell-apart-2024-6">it does about Apple</a>. Musk has since 2019 been promising that Tesla will make a self-driving robocar, and for even long he's been overselling his driver-assistance technology as "autopilot." <a target="_blank" href="https://www.businessinsider.com/openai-mess-concerns-over-nda-safety-sam-altman-2024-6">OpenAI's internal arguments</a> turned palace intrigue turned media fodder are mostly centered on concern for the speed at which AI's supposedly fearsome power will reshape humanity, not the limitations of its current practical application. The biggest models, the most powerful Nvidia chips, the <a target="_blank" href="https://www.businessinsider.com/openai-poach-google-staff-ai-search-team-talent-war-tech-2024-5">most talented teams poached</a> from the <a target="_blank" href="https://www.businessinsider.com/ai-startups-you-need-to-know-according-to-bain-2024-6">hottest startups</a> — that is the drumbeat of AI news from Silicon Valley and Wall Street. We've seen tech hype cycles before; they're mostly about raising money and selling stock. Only time will tell if the investments Wall Street and Silicon Valley are making in AI infrastructure will actually produce commensurate returns. That's how this game goes. But in all that noise, the reality of what AI is good (and bad) at right now has gotten lost — especially when it comes to the large language models that undergird most of the new AI tools consumers will use, like virtual assistants and chatbots. The tech is based on pattern recognition: Rather than make value judgments, LLMs simply scan a vast library of information they've hoovered — books, webpages, speech transcripts — and guess which word most logically comes next in the chain. There is an inherent limitation in that design. Sometimes facts are improbable, but what makes them facts is that they are provable. It might not make sense that Albany, not New York City, is the capital of the state of New York, but it's a fact. It might make sense to use glue, an adhesive, to stick cheese on pizza, if you're a robot with no context for what "food" is. But that's definitely not how it's done. Such as they are, large language models can't make this value judgment between pattern and fact. It's unclear whether they'll ever be able to. <a target="_blank" href="https://www.businessinsider.com/meta-yann-lecun-challenges-elon-musk-claims-ai-outsmarting-humans-2024-3">Yann LeCun</a>, Meta's lead AI scientist and one of the "<a target="_blank" href="https://www.businessinsider.com/ai-godfather-top-names-possibilities-dangers-openai-chatgpt-list-2023-8">godfathers of AI</a>," has said that LLMs have a "very limited understanding of logic" and that they "do not understand the physical world, do not have persistent memory, cannot reason in any reasonable definition of the term and cannot plan." He has also said they cannot learn anything beyond the data they're trained on — anything new or original — which makes them mentally inferior to a <a target="_blank" href="https://www.businessinsider.com/ai-chatgpt-not-smart-dogs-cats-yet-yan-lecun-meta-2023-6">house cat</a>.In other words, they're not perfect.Enter Apple, a company known for a culture of perfection. It was slow to embrace the hype surrounding AI, and, as I mentioned, for a while it refused to use the term "artificial intelligence," instead preferring the long dethroned, snoozefest name "<a target="_blank" href="https://www.businessinsider.com/why-ai-artificial-intelligence-wasnt-mentioned-apple-wwdc-tim-cook-2023-6">machine learning</a>." Apple started developing its own generative AI after <a target="_blank" href="https://www.businessinsider.com/apple-exec-software-engineering-became-convert-trying-this-ai-product-2024-6">ChatGPT-3 launched in 2022</a>, but it revealed the new features only when it felt they were good and ready. This tech is what will power features like Genmoji, which allows you to describe a custom emoji to fit whatever's going on and then creates it — say, one of you crying while eating an entire pizza. It will also power more-practical applications, like writing an email to your boss when you're sick or pulling up that link your mom sent you in a text message. Right now, these basic call-and-response applications are the things at which LLMs excel. If you want to use the latest Apple products to get into the freakier and more fungible world of talking to a chatbot, <a target="_blank" href="https://www.businessinsider.com/apple-cannot-hype-chatgpt-collab-without-conceding-defeat-ai-race-2024-6">Siri will call up ChatGPT</a> for you and let you run wild. This is Apple making a clear delineation between where its reliability ends and where a world of technological inconsistency begins. For Apple, this distinction makes sense. It wants its products to be associated with cutting-edge technology but also efficacy and productivity.The distinction, however, does not serve the rest of Silicon Valley or their venture-capital investors. Anyone fundraising or investing in this technology would prefer you see the capabilities and value of AI as a moving target — specifically moving up, to the right, and fast. Apple's rigorous standards serve as a way to firmly establish AI's present capabilities — or limitations, depending on how you see the glass. The alternative is what we're seeing at other companies, where users are guinea pigs, used to working with tech that makes them question what they see. Societies around the world are already grappling with a crisis of faith in institutions; <a target="_blank" href="https://www.businessinsider.com/china-xi-jinping-ai-wreak-havoc-america-world-economy-2024-6">faulty AI just spreads that mistrust</a> wider and faster. It's another stone in the wall between people's faith and what they read on the internet. In that way, Apple's cautious approach may be a service for the rest of the tech industry. By slowly acclimatizing its <a target="_blank" href="https://www.businessinsider.com/apple-rules-gen-z-nearly-90-percent-have-iphone-survey-2023-10">constellation of users</a> to AI that makes their lives better instead of frustrating them, Apple makes the tech feel like a natural upgrade instead of an unreliable, scary intrusion.Sure, Apple's AI may not be sexy or scary, but at least it doesn't seem stupid. Ideally, that means it won't make our world any stupider either.<a target="_blank" rel="" href="https://www.businessinsider.com/author/linette-lopez">Linette Lopez</a> is a senior correspondent at Business Insider.

Apple is the first tech giant to get AI right

<ul class="summary-list"><li>Last year, the SEC mandated that public companies disclose material cybersecurity incidents.</li><li>Cybersecurity experts explained the rule, which can be confusing for company executives.</li></ul>Investors <a target="_blank" class="" href="https://www.businessinsider.com/guides/tech/what-is-a-cyber-attack">consider cyberattacks one of the biggest threats to business</a>. The incidents can cost companies millions of dollars, damage their reputations, <a target="_blank" class="" href="https://www.pwc.com/kz/en/pwc-news/what-new/investors-put-cybersecurity.html">diminish trust with investors</a>, and affect their share prices.Though cyberattacks are <a target="_blank" href="https://www.gao.gov/cybersecurity">occurring more frequently</a>, investors don't always understand their scope or how to factor them into their investing strategies, said Hugh Thompson, the executive chairman of the <a target="_blank" href="https://www.businessinsider.com/rsa-conference-best-practices-securing-5g-iot-devices-2024-5">RSA Conference</a>, a global cybersecurity gathering.To ensure investors have access to timely, relevant information about cybersecurity events, the US Securities and Exchange Commission last year adopted <a target="_blank" class="" href="https://www.sec.gov/newsroom/speeches-statements/gerding-cybersecurity-disclosure-20231214">rules requiring public companies to disclose details about "material cybersecurity incidents,"</a> or those likely to <a target="_blank" class="" href="https://www.businessinsider.com/crowdstrike-global-it-outage-one-defective-it-update-sparked-chaos-2024-7">affect a company's operations</a>, finances, legal obligations, or reputation."These types of cybersecurity incidents have a real impact, potentially, on shareholder value," Kate Dedenbach, a privacy and cyber attorney at Fisher Phillips in Detroit, told Business Insider. "The SEC's goal is to provide investors with more robust and timely information about cybersecurity incidents so they can make more knowledgeable investment decisions."Thompson said that while the regulations were well meaning, they'd been confusing to chief information-security officers and others tasked with assessing cyber incidents. He said this was a common concern among <a target="_blank" href="https://www.businessinsider.com/rsa-conference-us-national-security-5g-infrastructure-ai-anne-neuberger-2024-5">attendees at the RSA Conference</a> in May.In January, <a target="_blank" href="https://affiliate.insider.com?h=7ea93943421ee09ecc063ab20182a0e5cd655eb602ca051d3fc9e2e5baae85a2&amp;postID=66d72882f12d26d0131892d1&amp;postSlug=what-to-know-about-sec-cybersecurity-rules-and-guidance&amp;site=bi&amp;u=https%3A%2F%2Fwww.microsoft.com%2Fen-us%2Fsecurity%2Fblog%2F2024%2F01%2F25%2Fmidnight-blizzard-guidance-for-responders-on-nation-state-attack%2F">Microsoft disclosed a cyberattack</a> on its senior executives' email accounts and said hackers were able to access the company's network. That month, the mortgage lender <a target="_blank" href="https://www.sec.gov/Archives/edgar/data/1831631/000183163124000011/pressrelease.htm">LoanDepot also disclosed an attack</a> in which hackers took control of company data. But a <a target="_blank" href="https://www.forbes.com/sites/bobzukis/2024/03/04/companies-are-already-not-complying-with-the-new-sec-cybersecurity-incident-disclosure-rules/">Forbes report</a> suggested the companies didn't include all the SEC-required information, such as a description of the attack's material impact.Here's what leaders of public companies should know about the regulations.<h2 id="992d7a04-260d-41a1-b5b0-3aa9ef6f517a">The final rule builds on previous guidance</h2>In 2011 and 2018, the SEC issued guidance for public companies to disclose cybersecurity risks and incidents. But the agency said disclosures were inconsistent."This made it difficult for investors to quickly locate information about risks," said Lei Zhou, a research scholar at the University of Maryland's business school who coauthored <a target="_blank" href="https://www.rhsmith.umd.edu/research/sec-cites-smith-research-new-cybersecurity-disclosure-rules-public-companies">research</a> that the SEC cited in the final rule.She said the 2023 final rule standardized the process for disclosing information and made disclosures a "binding requirement.""When a company can choose not to report or choose to report, the investor can't fully understand what's going on with a company," Zhou said.Still, organizations' reports will differ. She said investors could use differences in companies' disclosures to help make investment decisions.<h2 id="6965b16b-3a7c-4ca7-b7ae-859a7eb676c6">The first step is determining materiality</h2>Public companies are required to disclose any "material cybersecurity incident," or something likely to affect their financial condition or operations. This can include <a target="_blank" class="" href="https://www.businessinsider.com/cybersecurity-ai-mobile-app-data-protection-2024-3">the release of customers' personal information</a> or internal communications or the shutting down of a company's systems."The thought process is 'Would a reasonable investor consider this important when making their investment decision?'" Dedenbach said. "That's what determines whether it's material."She said the concept of materiality is well known in SEC reporting regulations but acknowledged that it might be new to CISOs."We have a lot of experience and standards around understanding business risk," said Steve Winterfeld, the advisory CISO of Akamai Technologies, a cloud computing, security, and content-delivery company. "What we don't know is if you lose a customer database, what is the risk to the investor?"He said CISOs are now tasked with working with legal and financial teams to <a target="_blank" class="" href="https://www.businessinsider.com/insurance-fraud-artificial-intelligence-detection-2023-10">define materiality for their organization</a> and then determine whether a cyberattack meets those criteria.Zhou said that determining materiality could be challenging, as some elements, like reputational damage, may take time to quantify. Ultimately it's up to companies to decide what affects their operations and business profile.<h2 id="58ce7e50-468d-4c3f-9f6b-6426aefc9173">There's a timeframe for disclosures</h2>The SEC says that <a target="_blank" class="" href="https://www.businessinsider.com/ai-secure-5g-networks-combat-cyber-threats-2024-5">determining a cybersecurity incident's materiality</a> should be done "without reasonable delay" but doesn't specify a timeframe. Once materiality is determined, organizations must report the incident within four business days, including its nature, timing, and scope as well as its material impact on the business."The best course of action is to start a timeline when an event happens," Dedenbach said, "so you can make a defensible position about when you determine materiality."Winterfeld said <a target="_blank" class="" href="https://www.businessinsider.com/how-companies-can-respond-to-cybersecurity-risks-after-layoffs-2024-9">cyberattacks often develop over several days or weeks</a> and can take several weeks to investigate. But Zhou said the SEC was relying on companies using their best judgment to comply in good faith and find "a balance between having an accurate disclosure and a timely disclosure."The SEC says companies can delay disclosure if a cybersecurity incident poses a substantial risk to national security or public safety.The final rule also requires companies to submit an annual disclosure about cybersecurity risk management, strategy, and governance, such as whether members of their boards have cybersecurity expertise.<h2 id="b13cfa15-9780-43e7-9218-84802bf7a075">Create a plan to streamline compliance</h2>Thompson suggested developing a plan for assessing cyber incidents and determining their materiality. Winterfield said such a plan should outline who should do what, define materiality for the company, and involve core stakeholders, including security, information, and legal teams.Zhou said extensive documentation is vital in case the SEC later asks for more explanation or details. The SEC hasn't specified the penalties for noncompliance.Zhou added that as companies disclose their material cyber incidents, the SEC is likely to issue more guidance and clarification, and the regulations are likely to evolve.But she said the final rule was a step in the right direction to help enhance cybersecurity and minimize attacks. Dedenbach predicted it would increase investments in technology and demand for people with cybersecurity and technology expertise."The investors are watching," Zhou said, "and the SEC is watching closely."

What business leaders should know about the SEC's cybersecurity disclosure rule

<ul class="summary-list"><li>President Emmanuel Macron took a huge bet by calling for a surprise election in France.</li><li>Macron risked losing what little power he had in the National Assembly to France's far-right bloc.</li></ul>Marine Le Pen's attempt to put the far right in power in France has been blocked by a surprise left-wing victory — one that has plunged the country into chaos.French voters rebuked the far-right, anti-immigration National Rally party during France's snap election, but with no group winning an absolute majority, the country has entered a period of uncertainty."Tonight, a new era begins," France's prime minister, Gabriel Attal, said, adding that France's destiny would play out "more than ever in parliament."It means the European Union's second-largest economy is heading toward political gridlock just weeks before the world's eyes are focused on it for the Paris Olympics.A hung parliament in France could also have implications for Russia's invasion of Ukraine and Europe's economy, with <a target="_blank" href="https://www.businessinsider.com/nato-emmanuel-macron-ukraine-france-weapons-hit-russia-one-condition-2024-5">French President Emmanuel Macron's influence significantly weakened.</a><h2 id="8b41dba0-4eda-46e9-b467-2f3490d0b240">A gamble by Macron</h2>Macron took a huge bet in June by calling for a surprise legislative election soon after the National Rally, France's far-right bloc led by <a target="_blank" href="https://www.businessinsider.com/who-is-marine-le-pen-2017-1">Le Pen</a>, trounced the president's centrist Renaissance party in the <a target="_blank" href="https://www.businessinsider.com/european-union-parliament-election-far-right-nationalist-parties-2024-6">European Union's parliamentary elections,</a> winning more than twice the votes his coalition received.The results pushed Macron's hand to dissolve the National Assembly — France's lower house, which holds more parliamentary power because it can pass laws — and take <a target="_blank" href="https://www.businessinsider.com/france-snap-election-president-macron-radical-gamble-backfire-2024-6">a huge gamble</a> by calling for an early election.By doing so, Macron hoped the voters would establish a stronger mandate in the lower house and strengthen his influence on the world stage.The president, whose popularity in France was already declining, lost a majority in the National Assembly in 2022, leaving his coalition to push laws without a vote in the lower house using a controversial but legal constitutional tool.The New York Times reported that Macron, without a majority in the lower house and relegated to political maneuvering, said his decision was inevitable.But the gamble backfired.On June 30, the National Rally party again dealt a huge blow to Macron's Renaissance party and its allies by securing 33% of votes in the first round of voting, which saw a high turnout.The New Popular Front, a left-wing coalition formed for the snap election, secured 28% of the votes.Macron's centrist coalition only received 20%.For a brief moment, France appeared to be looking at the first far-right government to emerge since the Nazi occupation, according to The Associated Press.<h2 id="e16230e2-502c-4b97-9742-93473d3637a5">The rise of the far right thwarted</h2>However, on Sunday's second round of voting, the Times, citing France's polling institutes, reported that a boost in support for the leftist New Popular Front was projected to give it the most seats in the 577-member lower house — but not a majority.The leftist alliance was projected to secure at least 177 seats, the Times reported.According to official results released early Monday, the New Popular Front leftist coalition placed first with just over 180 seats. Macron's centrist alliance secured more than 160 seats.Le Pen's far-right National Rally came in third, securing more than 140 seats.All three main factions fell far short of the 289 seats needed to control the 577-seat National Assembly, said the <a target="_blank" href="https://apnews.com/article/france-elections-right-left-macron-32fe723ea2a592e7ce243f68a89729a2">Associated Press.</a><a target="_blank" href="https://www.businessinsider.com/jean-luc-melenchon-is-surging-in-the-french-polls-2017-4">Jean-Luc Mélenchon</a>, the leader of the left-wing alliance, called the results an "immense relief for a majority of people in our country," the AP reported.The results don't favor the country's prime minister, Gabriel Attal, who is a member of Macron's centrist alliance.Though local media reported that the election results signal the end of Attal's term, <a target="_blank" href="https://www.reuters.com/world/europe/french-pm-attal-offers-resignation-up-macron-decide-2024-07-08/">Reuters</a> reported on Monday that Macron had asked him "to remain prime minister for the time being in order to ensure the country's stability."Meanwhile, France's former president, François Hollande, will return to parliament. Hollande — who held the role from 2012 until 2017 — was elected with the Socialist Party, part of the New Popular Front alliance, <a target="_blank" href="https://www.bbc.co.uk/news/live/ck7gydwgvy8t?page=2">BBC News</a> reported.In a statement to supporters as the projected results were announced, Hollande celebrated being able "to reduce the far-right not to the sidelines, but to a very small minority," the outlet said.While Macron's gamble may have prevented the far right from coming to power in France, the future shape of the government may remain unclear for some time.

Macron's gamble has kept the far right out &mdash; but plunged France into turmoil

He says AI can tell your politics and sexuality by reading your face. Is he right?

<ul class="summary-list"><li><a target="_blank" class="" href="https://www.businessinsider.com/instagram">Instagram</a> Reels show a lot of really odd and random videos people call "Mythical Reel Pulls."</li><li>Often, these are from people with few followers who weren't actually trying to go viral.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/how-instagram-stories-reels-made-comeback-beat-tiktok-2024-3">Instagram's Reels</a> are still pretty new, like molten lava that's still warm and constantly moving. Because of that, Reels don't really have their own culture or breakout native memes (although I'm sure that will happen eventually).Things might look very different a month from now, but at this very moment, in the summer of 2024 … is it just me, or are <a target="_blank" class="" href="https://www.businessinsider.com/reels-instagram">Reels</a> really, really weird?Let me describe a video I recently saw: There's a man with white hair — I'd guess about 65 years old — in glasses, wearing a white button-down shirt and tie. He has a beard and a thick mustache with hairs that improbably point upward into his nostrils. Based on the background, he looks to be inside a fairly normal American living room. He holds the phone, stares into the camera, and breathes heavily — audibly — for about 10 seconds. He says nothing during the entire video.This man has only posted to <a target="_blank" class="" href="https://www.businessinsider.com/instagram">Instagram</a> eight times. He has only 37 followers. He by no means appears to be a professional content creator or someone who has intended for his content to go viral — and yet the video of him breathing deeply has more than 10,000 views and more than 400 comments. One of the comments, at the top: "That's it I need to destroy my account. Algorithm's ruined."<h2 id="bfbae1b3-a3e1-4259-80b1-ccd1be23b733">Introducing the Instagram 'Mythical Reel Pull'</h2>A few other comments describe the man's post as a "Mythical Pull." A "Mythical Reel Pull" (or, on TikTok, "Mythical FYP Pull") refers to when an algorithm serves up a weird and surprising video — something so strange you can't believe you're seeing it, as if you're not supposed to see it.Lately, my Instagram Reels feed has gone haywire, chock full of these Mythical Pulls to the point they've become the rule rather than the exception. I think I have a theory as to why.Sometime this spring, I started seeing more and more videos like this — weird stuff, stuff that felt unintentional, from people who maybe didn't expect their videos to go (minorly) viral. Older people, tween boys, people who seem to be on drugs or unwell, or people who talk about sex in a way that would make you want to move to the other side of the subway car. These people didn't seem to be trying to be creators. Their videos weren't polished or professional; they didn't have lots of followers.It seemed more like they just happened to post a video to Instagram, and my algorithm "pulled" it from the spinning wheel of content.<div type="image" title="Instagram comments saying &quot;magical reel pull&quot;" height="1514" width="1290" msid="112424685" hostid="261" sizebytes="47942"></div>My first theory of why this is happening? More weird stuff is floating to the top because of a very specific and big change in the way Reels work.In May, Instagram head Adam Mosseri said the app was trying to <a target="_blank" href="https://www.instagram.com/reel/C6bUBxhrQRh/">surface smaller creators</a>: "One of the changes we're making to how ranking works we're doing is going to try to amplify small creators, specifically through recommendations," he said in a video. "What we're trying to do now is give every piece of content on Instagram a chance to be recommended to people who don't follow you."In practical terms, this means that previously, a post would first only be shown to your followers. If the post performed well (getting above-average likes/shares/comments), then it would kick over into the "recommendations" engine, where it could go viral. This way, only top-performing content would blow up, giving an advantage to big creators with huge followings.Now, every video can be recommended as soon as it's posted.<h2 id="a52b5683-a8aa-48ac-8ef9-805346453f0d">Meta says the big change hasn't been rolled out to everyone</h2>A representative for <a target="_blank" class="" href="https://www.businessinsider.com/meta">Meta</a> said my theory about the new recommendations rule couldn't be the correct explanation for why I'm seeing such weird stuff because the new rule hasn't been rolled out to everyone yet. But that doesn't quite make sense because even a partial rollout could explain this. The spokesperson didn't answer any other questions about why it might be that I see such strange stuff compared to TikTok, where my feed is more tailored to my interests like makeup, parenting, or celebrities.The tweak to Instagram's recommendation engine would explain why I was shown a Reel that was simply one still photo of a steakhouse in Wyoming. It had zero likes or shares and only 61 views (so far). This is probably great for the steakhouse, which wants new people to see its content (even if I don't live in Wyoming). It's probably great for small creators who are trying to get more reach.But it creates an odd situation for people who don't necessarily want— or might not even be uncomfortable with — a sudden deluge of strangers looking at their content.There's a wide middle ground of people who don't want to make their Instagram private but aren't looking or expecting to court attention from strangers. In fact, I'd guess that's a majority of users.Going viral or having a post suddenly get a lot of attention can be exciting, but it also can be a pretty unpleasant experience. Posting what you think is a friendly video and getting a bunch of comments like "pulling reels at a level that scares even myself" and "Godly reel pull" probably is not a great experience.The old man staring blankly into the camera who I described earlier? He deleted the video. I contacted him to ask about it but didn't hear back.<div type="image" title="instagram coments" height="1503" width="1290" msid="112424682" hostid="261" sizebytes="48692"></div>My second theory as to why I see more of this kind of content on Reels instead of <a target="_blank" class="" href="https://www.businessinsider.com/tiktok-is-bad-boring-fyp-2024-2">TikTok</a> is a historical difference between the two apps. On TikTok, you expect to see videos from strangers, and you'd expect strangers to see yours. For a decade on Instagram, you mainly saw photos and videos from people you knew in real life — and you wouldn't expect strangers to see your videos. Unless you were aggressively hashtagging your photos, it would be rare for a stranger to come across your posts at all, even on a public account.But on Instagram, a person might only ever look at their friends' posts or Stories, and then post a video and find themselves sucked into the world of the Reels algorithm.It's worth noting that the most frequent and loud complaint you've probably heard about this change in Instagram is from professional content creators, who are suddenly annoyed that it's harder for them to get the eyeballs they used to get, either because they are now forced to post videos to Reels instead of still images or because the algorithm doesn't seem to work like it used to.What you don't hear is people who didn't really want strangers viewing their stuff suddenly upset that a bunch of strangers are now watching it. But I believe these people exist.<h2 id="4888cb4c-510c-4f0f-85bd-e1ace65917d3">'Mythical Reel Pulls' aren't always positive for the posters</h2>I know that some of the people posting the Mythical Reel Pulls are not having a positive experience. I can tell that because when I look at the comments from people who have been shown some of this random content, they're often not very nice.I end up seeing a ton of Reels videos from children, more specifically boys around ages 9 to 13, who are technically <a target="_blank" class="" href="https://www.businessinsider.com/meta-millions-underage-users-open-secret-states-say-2023-11">not supposed to be allowed to have an Instagram account</a>. These videos are often kind of cringey in an 11-year-old-talking-trash-about-Fortnite kind of way. And the cringiness brings really brutal comments.It is a common meme to comment "try fentanyl" on the videos of these children. I see the "try fentanyl" or "this kid sold me fentanyl" comments so much that on one apparent child's account, I saw that he had written "I AM NOT GONNA DO FENT" in his bio.(I do try to remember that, almost certainly, the commenters are probably teenagers themselves. A lot of the Mythical Pull realm feels very Reddit/4chan/gamer/teenage boy. For some reason, which I have yet to come up with a suitable explanation for, Instagram comments are far, far meaner than TikTok comments.)<a target="_blank" class="" href="https://mentalhellth.xyz/p/the-zen-of-mythical-reel-pulls">P.E. Moskowitz recently wrote</a> about how the WTF-ness of Mythical Reel Pulls is a kind of <a target="_blank" class="" href="https://beingzen.com/zen-koans/">zen koan</a>. And these odd videos with low views aren't all just old men or children. The phrase also extends to just strange and delightful stuff that you simply didn't expect to find — getting to peek into some other slice of life for a few seconds. That's the beauty and serendipity of the utopian promise of social media.I suspect that whatever's happening with Reels right now is sort of an aberration, a bump along the way to Meta smoothing out the rough edges of its plans. I'll miss it when it's gone.

Instagram Reels are really, really weird lately, right? I think it's because of the 'Mythical Reel Pull.'

<ul class="summary-list"><li>Donald Trump shook Sen. Mitch McConnell's hand, signaling a peace between the top two Republicans.</li><li>The former president has repeatedly torn into Senate minority leader since leaving office.</li></ul>Former President <a target="_blank" href="https://www.businessinsider.com/donald-trump-tax-cuts-ceos-tim-cook-jamie-dimon-wall-street-2024-6">Donald Trump</a> and Senate Minority Leader <a target="_blank" href="https://www.businessinsider.com/joe-biden-mitch-mcconnell-leaving-leadership-congress-white-house-2024-2">Mitch McConnell</a> have decided to play nice, again.On Thursday, Trump returned to the Capitol for the first time since the 2020 election. It was also his first time back since his supporters stormed the building on January 6, 2021. At the time, the two top Republicans in Congress, House Minority Leader Kevin McCarthy, and McConnell, then the Senate Majority Leader, blamed the sitting president for the riot. McCarthy eventually made peace with Trump, but McConnell <a target="_blank" href="https://www.businessinsider.com/trump-mitch-mcconnell-relationship-2022-1">didn't talk to the former president</a> for years. According to reports at the time and since then, the longest-serving GOP Senate leader came close to <a target="_blank" href="https://www.businessinsider.com/mcconnell-trump-impeachment-private-remarks-burns-martin-book-nyt-2022-4">voting to convict </a>Trump of inciting the violence."The Democrats are going to take care of the son of a bitch for us," McConnell said of the House's 2021 impeachment proceedings, according to journalists Alex Burns and Jonathan Martin's book "This Will Not Pass: Trump, Biden and the Battle for America's Future."Those past tensions were nowhere to be seen on Thursday. McConnell said that the meeting was "really positive." Even Sen. Mitt Romney of Utah, the only Republican to vote to impeach Trump twice, was in attendance at the large gathering of the Senate GOP."We had a really positive meeting, he and I got a chance to talk a little bit, we shook hands a few times, he got a lot of standing ovations, it was an entirely positive meeting," McConnell told reporters, per Politico. "Mitt Romney was there, as well, and I can't think of anything to tell you about it that was negative." Trump wants to avoid the appearance of disunity that would distract from his coronation as he is crowned the Republican Party's presidential nominee for the third straight time in <a target="_blank" href="https://www.businessinsider.com/trump-insults-milwaukee-republicans-response-2024-6">Milwaukee</a>. There's also a block of traditional, Reagan-loving Republicans that remain skeptical of returning Trump to the White House. McConnell considers himself a card-carrying member of that wing, having staked perhaps the last major fight of his legacy on a massive foreign aid bill for Ukraine, Israel, and Taiwan.McConnell wants the Senate majority back. He recognizes how Trump could help the GOP despite calling the former president's political standing "diminished" less than two years ago. The path back to power is favorable to the GOP on paper because <a target="_blank" href="https://www.businessinsider.com/us-senate-races-2024-election-landscape-democrats-republicans-2023-1">the majority runs through states </a>Trump won easily in 2020 like Montana and Ohio. Polls show the Democratic incumbents in those states are hanging tough for now.McConnell is also thinking about his next act. Now, the longest-serving Senate leader in history, McConnell has said he will step down from the role after the election. According to Axios, he's already considering becoming chairman of the powerful Senate Appropriations Committee. It would give him major sway on topics like defense spending, where he favors more interventionist foreign policy than Trump.The pair are also behind Trump's biggest legacy: a more conservative judiciary. McConnell needed a GOP president to cement a conservative majority on the US Supreme Court. Trump's legacy will continue to be shaped in the years to come by his three nominees on the high court and the scores of lower court judges.<h2 id="80974b41-3ff5-4eae-8a38-3a17c587c6b8">McConnell and Trump are still an odd pairing</h2>Trump has far more in common with Republicans in the House, where allies like Rep. Marjorie Taylor Greene of Georgia hold power, than the Senate GOP, which is still dominated by lawmakers skeptical of Trump's foreign and trade policy.McConnell is the perfect encapsulation of this. The 82-year-old Kentuckian is known for saying very little in halls of the Capitol, to his colleagues' chagrin. Trump, according to an author of a forthcoming book about the Apprentice, has an almost encyclopedic knowledge of every celebrity that has crossed him. McConnell's memoir is entitled "The Long Game," while Trump redefined how Americans view the presidency through 140 and later 280-character messages on a platform created for its ephemerality.Still, their Cold War has unnerved Republicans.Trump did not respond to his post-January 6 isolation well. In September 2022, he asked if McConnell had a "DEATH WISH" because he supported legislation that Trump said McConnell knew he opposed."Mitch McConnell, the Broken Old Crow, has just conceded, for absolutely nothing and for no reason, the powerful Debt Ceiling negotiating block, which was the Republicans' first-class ticket for victory over the Democrats," Trump said in December 2021 over a deal McConnell struck to avoid the US defaulting on its debt.Trump repeatedly lashed out at McConnell and former Labor Secretary <a target="_blank" href="https://www.businessinsider.com/elaine-chao-trump-racist-nickname-coco-chow-response-2023-1">Elaine Chao</a>. The former president went so far as to engage in patently xenophobic attacks against Chao, McConnell's wife, who resigned from the Trump administration in the wake of the January 6 attack. Trump was extremely unhappy that McConnell repeatedly worked with President Joe Biden, his former Senate colleague, on bipartisan legislation that never came to fruition when Republicans controlled the White House, particularly a sweeping infrastructure law. Amid his pique, Trump pushed Sen. Rick Scott of Florida to challenge McConnell for the right to lead Senate Republicans. McConnell easily won, but their contest laid bare the frustration some Republicans had about the Cold War between two of their leaders. But for all the insults, McConnell has always pledged to support the GOP nominee. In April 2022, journalist Jonathan Swan seemed perplexed that McConnell could potentially support the very man he called "practically and morally responsible for provoking" the Capitol riot."Well, as the Republican leader of the Senate, it should not be a front-page headline that I will support the Republican nominee for president," McConnell said. "I think I have the obligation to support the nominee of my party."It remains to be seen what, if any, obligation Trump will have to McConnell in the coming months.

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