businessinsider.com
I’m not saying that I am the next Jim Cramer, but I had a point when I wrote just a few weeks ago that former President Donald Trump’s social-media company was probably not going to be an awesome stock pick. Was this completely foreseeable and deeply obvious? Absolutely.Trump Media & Technology Group, which owns the conservative Twitter clone Truth Social, went public via SPAC in late March. (For those not familiar, a SPAC, or special-purpose acquisition company, is a shell company that goes pub…
5 days ago
businessinsider.com
We’ve all been there: staring down the price of a plane ticket, a new shirt, or a bag of chips and thinking angrily to ourselves, “Jesus Christ, this did not use to cost this much.” And then … we buy it anyway.Inflation has made a lot of things infuriatingly expensive, and consumer confidence isn’t great. The economy is good on paper, but in the real world, a lot of people feel like they’re trapped in place. Yet many of those same people continue to spend their way through it. Retail sales came…
6 days ago
businessinsider.com
Prince Harry and Meghan Markle seem like lovely people. Despite some harrowing experiences throughout their love story, they appear to be well-meaning, and they have two very cute kids. All in all, they’re … fine. They are also incredibly famous. But this combination of decency and notoriety does not necessarily translate to them being great business people or top-notch media moguls, as evidenced by companies throwing millions of dollars at them, with, let’s say, mixed results.Netflix announced…
9 days ago
businessinsider.com
If you want to gamble in America these days, you have more ways to put your money on the line than ever. You’ve got the real-life casino, the casino on your phone, sports betting, crypto, meme stocks — even complex financial products like zero-day options can give you a quick hit of risk. For young men in particular, it’s an enticing, if a bit troubling, prospect. But for a variety of companies, from sportsbooks to investing apps, an increased willingness to make some kind of gamble means busine…
11 days ago
businessinsider.com
Boston has a bit of a budget problem. The rise in remote work has caused a slow and steady decline in commercial real-estate prices, and, as a result, property-tax revenue is falling, leaving the city facing a $1 billion tax deficit over the next five years. The same issue, coupled with a persistent decline in tourism, is weighing on San Francisco’s finances. Across the country, from Denver and Seattle to Washington, DC, and New York, cities are deciphering whether to slash their budgets. Even s…
13 days ago
businessinsider.com
The way retirement is supposed to work in America is something like this: You work hard and play hard (within reason) until you’re 65. Then you get to collect Social Security, on top of drawing from the nest egg you’ve built up over your career. Free from the shackles of a 9-to-5, you can finally do all the things you’ve been waiting for: spend time with your grandkids, travel across the country in an RV, and hop on a cruise ship (if you dare). But to a lot of people, this story increasingly fee…
18 days ago
businessinsider.com
Good news! Some of those annoying fees on your credit card may soon be getting smaller. Bad news! Banks and credit-card companies are almost certainly trying to figure out where else they squeeze money out of you.The Consumer Financial Protection Bureau announced last month that it had finalized a rule capping credit-card late fees at $8 for the first violation, cutting them down from the typical $32. Later that month, Mastercard and Visa reached a $30 billion settlement with US merchants agreei…
20 days ago
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It can be hard to keep up with what’s “cool” in the tech world. Half the time, by the time you’ve figured it out, it’s already passé. Or it’s an Apple Vision Pro situation, where opinions vary on whether the device makes someone look cool or like a clown. One thing that is definitely not “cool,” it seems, is having a green text bubble.On Apple’s iPhones, instead of conversations appearing in the typical gray and blue, text messages from non-Apple phones register as gray and a sort of hot green.…
24 days ago
businessinsider.com
Donald Trump’s newly public social-media company is not the next Nvidia — or Meta or Google or whatever has happened with X/Twitter.The share price of Trump Media and Technology Group, trading under the stock ticker DJT (because of course it is), surged following the completion of its SPAC merger last week. A SPAC, or a special-purpose acquisition company, is a shell company — in this case, Digital World Acquisition — that goes public with the intention of buying an actual company later. For a w…
26 days ago
businessinsider.com
Maybe AI will kill us all. Maybe it will steal our jobs. Maybe it will be awesome and improve our lives beyond our imaginations. Or, perhaps, this is all hype, and it’s doomed to go the way of the metaverse. Amid all the unknowns that surround artificial intelligence, one thing is true: Almost everyone is a little bit lying about it at the moment.Companies know investors have an appetite for all things artificial intelligence right now, and they’re eager to show off how they’re integrating the n…
about 1 month ago
businessinsider.com
Elon Musk can be cagey about his purported drug use. After bombshell reports about internal concerns over the Tesla-SpaceX-Twitter-Neuralink executive using LSD, cocaine, ecstasy, and ketamine, Musk’s line has typically been that it’s not happening. More recently, he’s shifted: OK, fine, it is happening, but it’s just ketamine for depression, and actually it’s good for shareholders. If his companies are doing well, Musk argued recently, and he’s taking drugs while running those companies, then h…
about 1 month ago
businessinsider.com
If you like your situation right now — your job, your house, your car — you can keep it. If you aren’t so satisfied, well, tough luck, because you might have to keep it anyway. Making a major life change, especially an upgrade, is going to come at a cost — one that many Americans would rather avoid, if they can manage it. Welcome to the “trapped in place” economy.“If you are trying to move, buy a car, whatnot, then you have all these bad buying conditions on top of everyday high prices, so it’s…
about 1 month ago
businessinsider.com
The other day, a friend of mine liked one of my LinkedIn posts. I was mortified. I quickly sent him a text explaining that posting there was a function of my job, not for funsies. While my frantic embarrassment was perhaps a tad of an overcorrection (OK, a lot of an overcorrection), I nonetheless feel deeply self-conscious about what I post on the work-focused website. I don’t want to come off as overly earnest, too self-promotional, or dare I say it, cringe.That LinkedIn is a cringey space is w…
about 1 month ago
businessinsider.com
Trader Joe’s mini tote bags are the new Stanley cups. Not in the sense that they’re a thing you should put water in, which obviously would not work great with a canvas bag, but in the sense that they’re the latest mundane item to suddenly become all the rage. They are the “must have” accessory of the season that is in no way even close to a “must,” even if our hyperaccelerated consumer trend cycle makes it feel that way.Trader Joe’s earlier this year released a limited-edition set of canvas bags…
about 1 month ago
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Jay Powell would very much like to stay out of politics, especially in an election year. The Federal Reserve chair doesn’t want to be perceived as having a horse in the race come November, especially when one of said horses — Donald Trump — is definitely going to be attacking him from any angle he can.Powell, who was appointed as Fed chair by Trump and then reappointed by Joe Biden, has gone to great lengths to emphasize that the central bank is above the political fray. He has repeatedly emphas…
about 2 months ago
businessinsider.com
Bitcoin’s been back on the upswing — and already a little bit back on the downswing. After a couple of years in the doldrums, the digital currency surpassed its all-time high on Tuesday, set in late 2021, of nearly $69,000 per coin. Optimistic forecasters are tossing out some quite lofty predictions about where bitcoin could be headed. $100,000! $200,000! $500,000! In the cryptocurrency world, it is a very exciting time.If it feels like we’ve been here before, it’s because we have: Sudden price…
about 2 months ago
businessinsider.com
DraftKings would love it if you bet on the Knicks game. Oh, and while you’re at it, why don’t you hop over to its casino app and try out a little online blackjack? And wouldn’t it be neat to eventually toss a few bucks on some lottery tickets, too?While more and more Americans are getting used to wagering on games from their phone, sports betting is just the start. The next step is to get people to gamble on everything.Sports betting has exploded since 2018, when the Supreme Court struck down a…
about 2 months ago
businessinsider.com
It’s weird to think about walking into a fast-food restaurant without knowing how much your burger and fries combo will cost you. It may also be the future.Wendy’s has sparked some pretty understandable outrage after announcing it’s going to start experimenting with dynamic pricing next year — in essence, changing the price of various menu items based on factors like the time of day. The chain is spending $20 million to outfit all its US restaurants with digital menu boards, which executives sai…
about 2 months ago
businessinsider.com
Employers are increasingly saying you don’t need a college degree to get hired, but secretly, you still kind of do.A new report from Indeed said 52% of job listings on its platform didn’t mention any educational requirements, compared with 48% in 2019. During the same period, the share of job postings asking for a college degree or higher fell to 17.8% from 20.4%.This is part of a move toward “skills-based hiring,” a push for companies to look at what candidates can do, not where they studied. H…
2 months ago
businessinsider.com
At the start of the year, I decided that I would become America’s bravest woman. I would frame some art on my own.Getting something framed professionally is super expensive, so I was convinced that this would be a herculean task — requiring precision and craft to justify such a high price tag. Ultimately, the endeavor turned out to be painless. With a handful of frames I bought online and, briefly, the help of a butter knife, I accomplished in an hour what I’d assumed would take me all day. My f…
2 months ago
businessinsider.com
Companies just can’t stop talking about their plans to cut jobs. A recent Bloomberg analysis found that the rate of mentions of layoffs in quarterly earnings calls was at its highest since the start of the pandemic. And while all the layoff chatter is deeply unnerving for workers, executives keep talking about plans to slash payrolls for a pretty clear reason: Investors are eating it up.It may seem counterintuitive for Wall Street to reward companies for letting people go. After all, layoffs are…
2 months ago
