Hawaii is a beautiful place but you should know a few things before you visit.
Jennifer Adams
I was born in Hawaii and spent 18 years living in Honolulu.
I wish tourists knew more about our history and how tourism is displacing Native Hawaiians.
Visitors should be careful to use terms like "Hawaiian" and "aloha" correctly.
I spent the first 18 years of my life in Honolulu.
When I tell people that I grew up there, they often ask me what life was like there or what they should do when they visit.
However, Hawaii is home to much more than beautiful beaches, and visitors should take it upon themselves to learn more about the rich history and culture that have shaped the state into what it is today.
Hawaii is the most culturally diverse state in the US
Hawaii is very diverse.
Jennifer Adams
Growing up in Hawaii, you could take a good look around you, and it would be easy to recognize that Hawaii is a melting pot of cultures.
I'm Japanese, Alaska Native, and white, and many of my friends were also multiracial.
In fact, nearly a quarter of people living in the state identify as multiracial, and more than a third identify as Asian alone, according to the 2023 US Census.
Such cultural diversity trickles down into the food we eat, too. Hawaii is home to foods like spam musubi, manapua, and malasadas, which have all been influenced by the rich mix of immigrant communities.
The term 'Hawaiian' is reserved for those who have native Hawaiian ancestry
I've noticed many people use the term "Hawaiian" to refer to anyone from the state of Hawaii. But a lot of people are surprised to learn that Hawaiian is an ethnicity.
Just as you wouldn't call a white person living in Japan "Japanese," the same principle applies to "Hawaiian."
If you're referring to someone who simply resides in Hawaii without Hawaiian ancestry, it's more accurate to call them a local or resident.
Tourism is displacing Native Hawaiians at a disproportionate rate
Tourism is huge for Hawaii, but it also has negative impacts on locals.
Jennifer Adams
According to CBS, every year, around 15,000 Native Hawaiians are left with no choice but to leave Hawaii, in part due to the increasing cost of living.
Growing tourism and expanding luxury housing developments, coupled with a lack of economic opportunities, are making it unfeasible for many to live in the state.
Hawaii used to be its own kingdom until the Hawaiian monarchy was overthrown
Before becoming the 50th state, Hawaii was a thriving sovereign nation. Its last queen was Queen Liliuoukalani, who led her kingdom to economic and civic success.
During her reign, Hawaii was recognized by over 80 embassies in the world, and the state enjoyed universal healthcare and a 95% literacy rate.
This all eventually changed when she was arrested and forcefully removed from the throne in 1893 in a US-military-backed coup.
When you litter, it ends up in Hawaii's oceans, threatening marine life and various ecosystems
When you carelessly toss trash on the ground, it'll likely end up polluting the pristine beaches of Hawaii, and there's a good chance you'll encounter it firsthand.
Tragically, it's not uncommon to see marine life like turtles, sea otters, and monk seals trapped in plastic or trying to eat a piece of garbage.
If you have any garbage to dispose of while you're in Hawaii, place it in a trash can.
Your TikTok has the power to ruin a beach
If you find a beautiful place, consider keeping it close to your chest.
Linka A Odom/Getty Images
Although it's OK to take plenty of photos and appreciate the beauty of Hawaii, it's important to be mindful about sharing your photos on social media.
Just one viral TikTok or Instagram post promoting a beach or hike can quickly turn a once serene spot into an overcrowded nightmare.
Therefore, it's crucial to consider the potential impact your posts will have and the importance of preserving the beauty of Hawaii for generations to come.
In Hawaii, 'aloha' has a much deeper meaning than 'hello'
You may know that "aloha" is used as a greeting to mean "hello" or "goodbye." But what you may not have realized is that aloha is also a human value that embodies love, peace, compassion, and respect.
The importance of embodying the "aloha spirit" is taught in schools, which I think contributes to the genuinely warm and kindhearted nature of Hawaii's people.
So, if you do plan on visiting Hawaii, it's important to also have aloha for the land and its people.
Elon Musk near a Falcon 9 rocket at SpaceX headquarters in Hawthorne, California in 2018.
David McNew/Getty Images
Internet satellite networks re-entering the atmosphere en masse could damage the ozone layer, a study warns.
Elon Musk's Starlink is by far the biggest player in this field.
The effects could "push pause on the ozone success story in decades to come," the scientists said.
Internet satellite networks like Elon Musk's Starlink could contribute toward the depletion of the ozone layer, a new study claims.
Scientists at the University of Southern California's Department of Astronautical Engineering warned that the massive increase in low-earth orbit internet satellites could lead to damaging chemical reactions in the atmosphere.
There are currently more than 8,000 internet satellites in low-earth orbit, of which about 6,000 are Starlink ones, a press statement said.
All are made with large amounts of aluminum and designed with a short, roughly five-year lifespan, it added.
The problem comes when the satellites fall into Earth's atmosphere to burn up, producing aluminum oxide, the scientists said, triggering a chemical reaction that's highly destructive to the ozone.
The study, published last week in the peer-reviewed Geophysical Research Letters journal, found that the presence of the oxides increased roughly eightfold between 2016 and 2022 — and could surge far more with current satellite launch plans.
SpaceX has plans to launch another 42,000 Starlink satellites, according to Space.com. Other companies, including Amazon, have plans to launch thousands more of their own, the study's authors said.
Worse, the oxides aren't consumed by the action, so the effect could last for decades as the particles drift down, they added.
In 2022, 18.7 tons of aluminum oxide nanoparticles were released into the atmosphere by falling satellites, they said.
Looking ahead to planned satellite launches, this could increase to as much as 397 tons a year and could lead to "significant ozone depletion," according to the study.
A revolution in high-speed internet
The system of placing many small satellites in low-earth orbit enables faster processing of larger volumes of data.
Earlier satellites operated much higher up — at a cost to internet speeds — but had a much longer lifespan.
A rendering of SpaceX's constellation of satellites for Starlink.
Mark Handley/University College London
Elon Musk started SpaceX, Starlink's parent company, in 2002, building it to be one of the biggest players in the space industry.
The first launch carrying experimental Starlink satellites was in 2019. Since then, the launches have continued, forming a mesh-like mega constellation that has helped meet the massive demand for fast global internet access — notably in Ukraine, where the technology has been vital to the country's defense communications.
Starlink's X account said in May that it serves three million internet customers across 100 countries and territories.
Hitting pause on a rare success story
A still from a European Space Agency video showing a multicolored visualization of the ozone layer, with Antarctica visible through a massive hole, as of September 28, 2023.
European Space Agency
In the 1970s, it was found that the widespread use of chlorofluorocarbons, or CFCs, was producing a massive hole in the ozone layer.
A 1987 ban on CFCs helped slow the process, and by 2013, authorities were projecting that the ozone layer would repair itself within a few decades.
It was a rare success story among a clutch of global climate-related issues.
But this progress could now be stalled, the USC scientists said.
"Unanticipated growth of aluminum oxides may push pause on the ozone success story in decades to come," they wrote.
In2023, observers at the European Space Agency noted that the hole in the ozone layer over Antarctica was roughly three times the size of Brazil and was "one of the biggest on record."
At the time, the agency said it was too early to know the cause, and did not mention satellite burn-up among the potential factors.
Starlink did not immediately respond to Business Insider's request for comment, sent outside of office hours.
President Joe Biden speaks about investing in clean energy manufacturing at CS Wind in Pueblo, Colorado.
AP Photo/Andrew Harnik
The Biden administration unveiled a rule linking clean energy tax breaks to worker pay.
Projects must hire apprentices and pay prevailing wages to qualify for increased tax breaks.
The credits could boost clean energy job wages, helping close the pay gap with fossil fuel jobs.
The Biden administration wants to ensure businesses are paying their clean energy workers well — and it's using a new tax break to push for it.
The Treasury Department, alongside the Internal Revenue Service, announced a final rule on Tuesday that stipulates how clean energy projects can get their tax break from the Inflation Reduction Act multiplied by five by paying workers more.
"No developer will leave that money on the table," John Podesta, Senior Advisor to the President for International Climate Policy, told reporters.
To qualify, projects have to hire registered apprentices, who are paid for their work and earn credentials while doing it, and pay the prevailing wage to their workers, a level of minimum pay generally set for workers on government contracts. While prevailing wage has "long applied" to federal projects, according to Treasury Secretary Janet Yellen, this is the first time it's been applied to clean energy tax incentives.
"This is a major step to put American workers at the center of the clean energy economy. It will help to attract and strengthen a skilled workforce in partnership with our nation's labor unions and private sector companies, and it'll help make sure this workforce is well paid," Yellen said in a call with reporters.
The rule gets at one of the big issues facing the clean energy economy: It doesn't pay as well as jobs in more carbon-intensive fossil fuel energy. For instance, a 2021 paper from the University of Massachusetts Amherst's Political Economy Research Institute found that while clean energy work in California pays $86,000 — above the average national wage of $65,000 — fossil fuel work pays, on average, $130,000.
Of course, there is now more opportunity for clean energy work as the industry grows, and some jobs have robust pay — but many roles require a bachelor's degree or apprenticeship experience, underscoring the importance of hiring apprentices.
Sean McGarvey, president of North America's Buildings Trades Unions, told reporters that in the past, the average solar worker earned less than a quarter of NABTU members' total wage and benefits package.
"That's why we were so reluctant without these rules that are being put in place to embrace the clean energy transition; we were always talking about a just transition," McGarvey said. "In the fossil fuel industry, our experience has been for the last hundred years that they pay top wages and fringe benefits, and, in the renewable industries that burgeoned over the last several decades, that has not been the case."
The new rule could open up the type of federal tax support for clean energy that fossil fuel companies have enjoyed for decades.
"With these new rules in place, there will be huge increases for many, many people that are existing in this industry right now and the opportunities for hundreds of thousands of people to join this industry with middle-class family-sustaining wages and with good healthcare and post-retirement benefits," McGarvey said.
Are you considering going into clean energy for higher pay? Contact this reporter at jkaplan@businessinsider.com.
Buying a house right now is difficult for a whole bunch of reasons, Dave Ramsey said.
But some people can't afford one as they waste money and rack up debt, the radio host said.
Ramsey's tips include picking the right mortgage, repaying debts, and building an emergency fund.
Buying a house has become especially hard, but some people can't afford one because they're mismanaging their money, personal finance guru Dave Ramsey says.
"It is mathematically tough right now, it is economically tough. But I think more than those two, it's psychologically tough right now because there's just this perception, this dark cloud over the subject of buying a house right now," he said on a recent episode of "The Ramsey Show."
House prices have surged to record highs, and the interest rate on a typical 30-year fixed-rate mortgage has jumped from below 3% in late 2021 to around 7%, fueling an affordability crisis.
People are also spending more on basics like food, fuel, and rent thanks to high inflation — and paying more each month for their car loans, credit cards, and other debts after the Federal Reserve raised interest rates to curb rising prices.
Ramsay's point is that consumers face a painful combination of lofty home prices, more expensive mortgages, steeper living costs and debt payments, stagnant wages and layoffs in several industries, and ongoing recession fears.
The result is that for many people, it feels harder than ever to save enough money, secure sufficient financing, and plunk virtually their entire net worth into a single asset, even if they plan to live in it.
Overspenders can't complain
Despite those challenges, the talk show host and author called out people who make bad financial decisions and then complain they can't afford a house.
"You're spending money you don't have, to do crap you don't need to be doing, and you go in debt to do it," he said.
"You're sitting there with stinking car payments around your neck, a bass boat payment, and paying for last year's Disney vacation on your credit card, and you can't figure out why you can't afford a house," he said. "Well I just told you why you can't afford a house: Your stinking overspending."
Ramsey advised people against making a home purchase until they've paid off their debts and built an emergency fund that covers three to six months of expenses.
He recommended they make a 20% down payment if possible, never take on a mortgage with a monthly payment exceeding 25% of their take-home pay, and stick to a fixed-rate mortgage that protects them from rate increases, as they can refinance if rates fall.
Blessing, not a curse
Ramsey also urged prospective buyers to account for closing costs and ownership expenses like home insurance, maintenance, and utilities.
"I want the house to be a blessing, not a curse," he said. "When you are broke and in debt, don't have an emergency fund, and sign up for a mortgage payment you can't afford, that is not smart real estate. That's going to slow down your wealth building, bring anxiety to your home, stress to your relationships."
Ramsey also cautioned that many people's wages have risen less slowly than prices and interest rates, which means "you can probably no longer afford the home you thought you were going to get."
He said the upshot is that buyers will probably have to compromise on things like the neighborhood and commuting distance to the city if they want to secure a home in their price range.
Yet the financial expert's principles will surely remind others of Warren Buffett, the legendary investor who preaches prudence, frugality, and careful risk management when it comes to money.
Russian President Vladimir Putin and China's Leader Xi Jinping on May 16, 2024, in Beijing.
Contributor via Getty Images
China is facing the prospect of further G7 sanctions.
The G7 has accused it of helping arm Russia against Ukraine.
Balancing its support for Russia with its European trading ties is becoming tricky for China.
NATO Secretary General Jens Stoltenberg this week warned China it faces a stark choice if it continues backing Russia's Ukraine invasion.
"Publicly, President Xi has tried to create the impression that he's taking a back seat in this conflict to avoid sanctions and keep trade flowing," Stoltenberg said.
"But the reality is that China's fueling the largest armed conflict in Europe since World War II.
"At the same time, it wants to maintain good relations with the West.
"Well, Beijing cannot have it both ways. At some point, and unless China changes course, allies need to impose a cost."
The US believes China has supplied Russia with equipment such as chips and integrated circuits, which can be used to produce weapons. In response, China has said it is not a party to the Ukraine war and that there should be no interference with trade between China and Russia.
At the G7 summit last weekend, the leaders unambiguously signaled their growing frustration with China in a joint statement.
"China's ongoing support for Russia's defense industrial base is enabling Russia to maintain its illegal war in Ukraine and has significant and broad-based security implications," said the leaders of some of the world's biggest advanced economies.
It came days after the European Commission told Chinese carmakers that it would provisionally apply duties of up to 38% on imported Chinese electric vehicles from next month.
And in April and May, the US imposed new sanctions on Chinese banks and companies it accused of supplying goods and services for the Russian military.
Xi's balancing act
Analysts say that China is performing a balancing act. It is backing the Russian invasion to dent US global power while also seeking to maintain the trading ties with Europe its economy depends on.
The US has long been pushing its European allies to adopt a tougher stance toward Beijing similar to its own.
But they have hesitated until now. Many retain close economic ties with China, with the European economic giant Germany long dependent on China's manufacturing might for products such as cars and electronic devices.
But at the G7 there were signs that might be about to change, and Europe's leaders are becoming increasingly exasperated with China.
In the statement, members said they were willing to punish Beijing further for its support of Russia.
"We will continue taking measures against actors in China and third countries that materially support Russia's war machine, including financial institutions, consistent with our legal systems," they said.
China-Europe tensions increase
It's not just China's support for Russia that appears to be focusing European minds on the potential threat it poses.
China has sought to exploit divisions in Europe, with Xi visiting Hungary and Serbia in May, just after visiting France's President Emanuel Macron. Both have taken a critical stance towards Ukraine and appear keen to do more business with China, in defiance of EU policy. And China also seems keen to drive a wedge between European countries and the US.
But China's attempts to sustain its balancing act appear to be getting more difficult to sustain.
A person familiar with G7 talks told the Financial Times: "The era of naivety towards Beijing is definitely gone now and China is to blame for that, honestly."
Fisker has filed for bankruptcy, following its warnings of potential business failure.
The company initiated a series of layoffs over the past few months.
Fisker is one of several companies to face headwinds from an EV sales slowdown.
Fisker filed for Chapter 11 bankruptcy protections on Monday, marking a brutal blow to the startup that was once worth as much as $8 billion.
As the EV industry at large faced headwinds this year, Fisker was no exception. It encountered difficulty selling its EVs and some very public complaints from customers as it raced to shore up more financing and potential rescue buyers. Last week, the company initiated a recall for a software-related issue that it said caused some of its vehicles to suddenly lose power.
Fisker has initiated a series of layoffs over the past few months. In April it told workers it would further reduce its workforce to "preserve cash." That was after the company said in February that it planned to slash its workforce by 15%. The company brought in a chief restructuring officerwho was given "sole authority" over some financial matters, including a potential sale, as part of an agreement with one of its investors.
Fisker had been looking for potential buyers to stave off bankruptcy. Fisker CEO Henrik Fisker told staff in April that the startup was in talks with four automakers for a potential buyout, BI reported.
Fisker is one of several automakers that has faced headwinds from an EV sales slowdown.
Do you work for Fisker or have a tip? Reach out to the reporter via a non-work email at gkay@businessinsider.com
Berkshire Hathaway CEO and chairman Warren Buffett's net worth is an estimated $135 billion.
He's the world's 10th-richest person, per Bloomberg, above Michael Dell and the Walton siblings.
Buffett is known for living modestly and being one of the world's most generous philanthropists.
Warren Buffett is having a good year — his fortune has ballooned by almost $15 billion.
With an estimated net worth of $135 billion, according to the Bloomberg Billionaires Index, the 93-year-old Berkshire Hathaway chairman and CEO is the world's 10th-wealthiest person in the world. He's $15 billion richer than Michael Dell and worth considerably more than any of the three Walton heirs, for example.
Looking at Buffett's frugal ways, though, you might not know it.
Still living in the house he bought in the 1950s and driving an equally modest car, the "Oracle of Omaha" prefers to keep and grow his money rather than take it out of the bank. He often eats breakfast from McDonald's and borrowed furniture when his children were born.
See how Buffett spends — or doesn't spend — his billions.
Buffett's hobbies include bridge, golf, and playing the ukulele.
Matt Schifrin/Youtube
Buffett loves playing bridge, sometimes playing for over 8 hours a week, the Washington Post reported. He also likes to hit the green for some golf, spends a great deal of his time reading, and loves to play the ukulele — he said in 2020 that he has a collection of 22 ukuleles. He's played the ukulele since he was young and used his skills to court his first wife Susan, their son Peter once told NPR.
Buffett once bought and donated 17 Hilo ukuleles to the North Omaha branch of the nonprofit Girls Inc, and showed up at the group's building to give a group lesson.
His fortune is largely tied to his investment company.
Buffett is the CEO of Berkshire Hathaway.
Steve Pope/Getty Images
The vast majority of Buffett's net worth is tied to Berkshire Hathaway, his publicly traded conglomerate that owns businesses like Geico and See's Candies and holds multibillion-dollar stakes in companies like Apple and Coca-Cola.
Berkshire's latest proxy statement shows that Buffett owns about 15.1% of Berkshire — a stake valued at over $130 billion.
Berkshire Hathaway itself owns over $1 trillion in assets, Insider previously reported.
Buffett began investing at a young age.
Paul Morigi/Getty Images
The CEO of Berkshire Hathaway began building his wealth by investing in the stock market at age 11, according to Forbes, and first filed a tax return at the age of 13.
As a teenager, he was raking in about $175 a month by delivering The Washington Post — more than his teachers (and most adults). Berkshire Hathaway later owned nearly 30% of the newspaper for 40 years until shedding the stake in 2014.
He also sold calendars, used golf balls, and stamps. He had amassed the equivalent of $53,000 by the time he was just 16.
Most of Buffett's fortune was built later in life.
Daniel Zuchnik/Getty Images
The vast majority of Buffett's wealth was earned after his 50th birthday. His salary at Berkshire Hathaway last year was just $100,000, the same as it's been the last 40 years, and he reimbursed the company $50,000 in part to cover his personal calls and postage.
The company spent triple Buffett's yearly salary — $313,595 — on his personal and home security last year, according to the company's proxy statement.
Buffett's worst investment was a Sinclair gas station.
AP Images
Buffett's greatest investment mistake is said to be a Sinclair gas station that he bought in 1951 at the age of 21 — he bought a stake in the station with a friend, and the business was consistently outsold by the larger Texaco station opposite it.
He eventually lost the $2,000 he invested out of his total net wealth of $10,000 at the time, Yahoo Finance reported, referencing Glen Arnold's book "The Deals of Warren Buffett, Volume 1: The First $100M."
Buffett has been married twice and has three children.
Howard, Susie and Peter Buffett.
Nati Harnik/AP
Buffett married his first wife, Susan Buffett, in 1952. Together they had three children: Susie, Howard, and Peter. Though he and Susan remained married until Susan's death in 2004, they had lived apart since the 1970s. He married his second wife and longtime companion, Astrid Menks, in 2006.
When Susie was born, Buffett apparently turned a dresser drawer into a bassinet for her to sleep in, according to Roger Lowenstein's 2008 biography of the billionaire. For his second child, Howard, he borrowed a crib.
Buffett lives a modest lifestyle.
Warren Buffett
Spencer Platt/Getty Images
Despite his multibillionaire status, Buffett has long lived a relatively modest and frugal lifestyle. He previously told CNBC and Yahoo Finance's "Off the Cuff" that he's "never had any great desire to have multiple houses and all kinds of things and multiple cars."
Buffett lives in the same home he bought in the 1950s in Omaha, Nebraska.
BI
Buffett lives in a modest home in Omaha, Nebraska, which he once called the "third-best investment" he's ever made in a letter to Berkshire shareholders.
He bought the home for $31,500 in 1958 — adjusted for inflation, that's about $342,000. It's now worth an estimated $1.4 million, according to Zillow, and spans 6,280 square feet with five bedrooms and 2.5 bathrooms.
Buffett has made some security upgrades since buying it and it's now guarded by fences and security cameras.
Buffett used to own a vacation home in California.
Villa Real Estate
In 1971, Buffett purchased a vacation home in Laguna Beach, California, for $150,000. Part of a gated community called Emerald Bay, the house has six bedrooms, is walking distance from the beach, and was renovated after Buffett bought it.
He initially put it on the market in early 2017 for $11 million, then cut the price down to $3 million later that year. It sold in October 2018 for $7.5 million, after almost two years on the market.
Buffett's choice of vehicle has also long been modest.
He previously drove a 2001 Lincoln Town Car with a license plate that read "THRIFTY" for about a decade, before auctioning it off for charity and replacing it with a 2006 Cadillac DTS. In 2014, he replaced the DTS with a Cadillac XTS, according to Forbes.
"The truth is, I only drive about 3,500 miles a year so I will buy a new car very infrequently," Buffett once told Forbes.
Buffett has splurged on a private jet.
Mikhail St / Shutterstock
One splurge Buffett has made is on a private jet. Buffett spent $850,000 on a used Falcon 20 jet in 1986, then sold the first jet and upgraded to a different used jet in 1989, spending $6.7 million.
He and his late business partner Charlie Munger nicknamed the second jet "The Indefensible," Buffett revealed in a letter to shareholders.
Buffett used a flip phone for years.
Warren Buffett shows former CNN host Piers Morgan his flip phone in 2013.
CNN
Despite the fact that Berkshire Hathaway is a major Apple shareholder, Buffett didn't upgrade to a smartphone until 2020.
Before that he preferred the Samsung SCH-U320, which can be bought on eBay for under $20.
Though Buffett did make the switch to an iPhone eventually, he told CNBC that he just uses it "as a phone."
Buffett's style includes suits from a Chinese designer and affordable haircuts.
Warren Buffett's style choices are also understated.
AP Images
Buffett has said he has about 20 suits, all made in China by designer Madame Li, according to CNBC.
He has a longstanding friendship with Li, an entrepreneur who worked her way up in the business. Buffett's gotten the same $18 hair cut for years from a barber shop in the same building as his office.
Buffett regularly eats at McDonald's and drinks a lot of Coke.
In 2017, he was spending no more than $3.17 on his order, paying with exact change, he said in the HBO documentary "Becoming Warren Buffett." He also drinks at least five Cokes a day.
The letter reads: "Remember the laugh we had when we traveled together to Hong Kong and decided to get lunch at McDonald's? You offered to pay, dug into your pocket, and pulled out …coupons!"
Buffett is one of the world's most generous philanthropists.
Berkshire Hathaway chairman Warren Buffett gestures at the start of a 5km race.
REUTERS/Rick Wilking
Warren Buffett is considered one of the world's most generous philanthropists. He pledged in 2006 to donate about 85% of his Berkshire Class A shares to five foundations: the Bill & Melinda Gates Foundation, the Susan Thompson Buffett Foundation (named after his late wife), and three foundations run by his three children.
He teamed up with Bill and Melinda Gates in 2010 to form The Giving Pledge, an initiative that asks the world's wealthiest people to dedicate the majority of their wealth to philanthropy. Buffett himself has pledged that 99% of his wealth will go to philanthropy during his lifetime or upon his death.
As of 2023, the shares he's already given away were worth about $50 billion based on their value at the time of donation, or about $130 billion given Berkshire Hathaway's stock value at the time. If Buffett had kept those shares rather than donating them, he'd likely be the world's wealthiest person with a net worth of nearly $300 billion.
Buffett plans on leaving his kids $2 billion each, the Washington Post reported in 2014. He once said in a letter to shareholders that he recommends that super-wealthy families "leave the children enough so that they can do anything but not enough that they can do nothing."
Even for Buffett, there are things that money can't buy.
Bill Pugliano/Getty Images
"There are things money can't buy," Buffett once said at a shareholder's meeting. "I don't think standard of living equates with cost of living beyond a certain point. My life couldn't be happier. In fact, it'd be worse if I had six or eight houses. So, I have everything I need to have, and I don't need any more because it doesn't make a difference after a point."
Harry Jowsey, Jessica Vestal, and Melinda Berry in "Perfect Match" season two.
Courtesy of Netflix
Warning: Major spoilers for "Perfect Match" season two, episodes eight and nine.
Harry Jowsey is in hot water with Jessica Vestal after being accused of kissing another contestant.
Here's what we know about the kissing scandal involving Melinda Berry.
Harry Jowsey said the "Perfect Match" season two kissing scandal, which led people to accuse him of disrespecting his partner Jessica Vestal, is "a lot worse than you think."
Harry was obsessed with Jessica from episode three, and the pair had become one of the more consistent couples of the season.
But in episode eight, Harry begins flirting with Melinda while at a party without Jessica. Harry offers to carry Melinda twice in the episode, and the second time, Harry allegedly kisses Melinda.
The "kiss" apparently happens off-camera, turning the incident into an argument between Melinda, who is adamant that the kiss happened, and Harry, who says it didn't.
The next day, Melinda tells Jessica that she and Harry kissed, causing a big fight between the three contestants.
Harry has not addressed the "kiss," but he has referred to himself as a "gaslighting king" on his social media and on his podcast, "Boyfriend Material." These comments seem to suggest that Harry lied about the kiss on the show.
The scandal has become one of the biggest controversies of "Perfect Match" season two, especially since the audience never saw the alleged kiss.
Here's what we know so far about the kissing scandal between Melinda and Harry.
'Perfect Match' season two, episode eight: Melinda and Holly say the kiss happened off-screen
In "Perfect Match" season two, episode eight, Stevan Ditter, Harry Jowsey, Chris Hahn, Kaz Bishop, Justin Assada are separated from their female partners.
Courtesy of Netflix
The kissing scandal begins in episode eight after all the couples are split up and sent to separate parties. The boys' party is ambushed by a group of female contestants who are trying to tempt the men away from their original partners.
Frustratingly, "Perfect Match" never reveals if the kiss happens in the episodes released on June 14. Either it occurred off-camera or the producers have decided to withhold the footage.
But we do have some potential witnesses. In episode eight, Holly Scarfone and Justin Assada were talking to each other right next to where the kiss is thought to have happened.
Holly is actually the first person to claim they kissed.
Justin says: "Woah, what's going on there? huh"
Holly replies: "Boys' day. They kissed."
The camera also pivots to Stevan Ditter, who seems to be looking in the direction of Harry and Melinda.
Stevan and Justin both say they didn't see anything, though they could be trying to defend their friend.
Justin Assada says he didn't see anything but Holly Scarfone says she saw the kiss.
Netflix
The camera then goes back to Melinda and Harry, and Harry begins to talk about his great relationship with Jessica.
When Melinda mentions the kiss, Harry denies it, laughs without looking directly at her, and walks away.
Harry doubles down when they get to the rest of the group, saying that Melinda is making up the kiss to boost her fame.
"No one saw it," he tells the rest of the group. "That was fake news. I did not kiss her. Where's the video evidence?"
'Perfect Match' season two, episode eight: Harry doesn't mention the kiss when he first sees Jessica
Later in the episode, the original couples return to the house, and Jessica finds Harry crying in his bed.
Harry tells Jessica he hasn't been the best example for her or her daughter Autumn.
Harry says he was too playful during the boys' party and carried Melinda to the toilet at one point in the day. Harry never mentions a kiss and instead accuses Melinda of trying to lie about what happened earlier in the day.
Jessica and Harry have a brief argument, as she doesn't initially believe him but Jessica eventually forgives him.
'Perfect Match' season two, episode eight-nine: Jessica tells Melinda off for telling everyone about the alleged kiss
Harry Jowsey accidentally walks into the girls' chat about his kissing scandal.
Netflix
At the end of episode eight, the female contestants from the "boys' party" arrive in the house to give them an opportunity to steal any of the men.
All the women decide to congregate around a table to reveal if any of the men cheated during the boys' day out. Melinda immediately tells Jessica that she and Harry kissed three times the day before.
"He just kissed me," Melinda says. "And then does it again, so I kissed him back."
Harry and Dom Gabriel walk past, so Jessica asks Harry to comment on Melinda's story. Harry again denies kissing Melinda, saying that no one saw anything.
Melinda then turns to Brittan Byrd, who was nearby during the incident, to support her claim. Brittan says Melinda's makeup was on his nose.
Jessica begins questioning Melinda's motives for kissing Harry and not telling her this information privately.
The pair argue over this for a minute before Jessica says she will ask for both sides of the story before deciding whether to stay with Harry.
Meanwhile, Harry walks away and complains about the situation to Dom. Harry tells Dom that Melinda set up the conversation about the kiss and says Melinda was the one who tried to initiate a kiss, but he turned away.
'Perfect Match' season two, episode nine: Melinda says Harry also said he wanted to have sex with her
Melinda Berry in "The Perfect Match" season two.
Ana Blumenkron / Netflix
Jessica spends most of episode nine asking multiple contestants about what she should do about the Harry situation.
It is not the first time Harry's loyalty has been questioned. Harry has a poor dating track record, and multiple contestants have brought this up to Jessica.
Jessica speaks to Alara Taneri, Stevan, Dom, and Bryton Constantin, who all defend Harry. Jessica also speaks to Harry for his side of the story.
Harry denies the kiss but adds another element to the story.
"I did look at her stomach, and I said, 'It'd look good if you were pregnant.' But it was not in that sense," Harry says.
When Melinda speaks to Jessica privately later in the episode, Melinda says Harry wanted to have sex with her.
"He was like, 'I'm 30 years old. I'm ready for some babies.' He goes, 'You ready for some babies? I'll put a baby in you,'" Melinda says. "He goes, 'They'll come out handsome and tall and athletic.'"
'Perfect Match' season two, episode nine: Jessica confronts Harry
Jessica Vestal and Harry Jowsey competing in a "Perfect Match" couples challenge.
Courtesy of Netflix
Harry and Jessica sit down again at the end of the episode to discuss the kissing incident.
Harry says he has been vomiting all evening because of the stress of the situation and apologizes again for the incident. However, Jessica is still not convinced Harry is telling the whole truth.
The episode ends with Harry making another plea for Jessica to match with him.
"Perfect Match" fans will likely find out Jessica's decision when the season two finale premieres on Netflix on June 21.
June 14-17, 2024: Harry and Melinda joke about the kissing drama on social media
Ahead of the season two finale, Harry and Melinda appeared to joke about the kissing scandal on social media.
In one of Melinda's two TikTok posts about the kiss, she captioned the video: "All I know is the truth #theperfectmatch #perfectmatch #Netflix all will be revealed."
Meanwhile, Harry shared an Instagram reel of him wearing a T-shirt that said "I ❤️ gaslighting" while reading a book titled "gaslighting."
June 18, 2024: Harry says he was told to create drama during the boys' day.
Harry Jowsey in "The Perfect Match" season two.
Ana Blumenkron / Netflix
Harry seemed to suggest that he lied about the "kiss" in the latest episode of his podcast, "Boyfriend Material with Harry Jowsey," which aired on Tuesday.
Harry said he was a "gaslighting king" during episodes seven to nine of "Perfect Match." Harry never addresses the kiss directly but said he would talk more about the situation next week.
"I just want to let you guys know it's a lot worse than you think, so buckle up," he said.
Later in the episode, Dom appeared as a guest on the podcast and said he didn't agree with Harry's "gaslighting" and "lying" during the kissing drama. But Dom said Harry's actions wouldn't have been as serious in the real world.
These comments seem to indicate that Harry kissed Melinda and lied about it.
Harry also said there were "no hard feelings" between him and Melinda, implying they've made up.
Harry added there was no excuse for his behavior, and listed multiple reasons for his actions.
Harry said he wasn't in the right headspace when filming "Perfect Match," and he was drinking a lot before and during the boys' day outing.
"There was no limit on that alcohol," Harry said. "I was so fucking drunk that I don't remember leaving that place. I don't remember the second half of that night. All I remember is like the shit that went down and then being back at the house with food poisoning."
In last week's episode of "Boyfriend Material," Harry said he didn't remember much of the show because he was always drunk.
Later in this week's episode, Harry said that someone in the "Perfect Match" production team told the contestants to create drama to make the series more interesting.
"There was someone on the team that came up to both the girls and the guys and said, 'Hey, if you guys don't do anything or create any drama, we don't have a fucking show,'" Harry said.
Representatives for "Perfect Match" did not immediately respond to a comment request from Business Insider outside business hours.
In "Perfect Match" season two, episodes eight and nine, Harry looks very sick and tells Jessica he vomited because he was worried about their relationship.
On his podcast, Harry said he just had food poisoning from undercooked salmon that he made.
"It looked like I was vomiting, crying, and freaking the fuck out from Jess," Harry said. "But, in that moment, I was just violently ill."
Harry said he should have spoken to Jess after the boys' party and taken accountability, but at the time, he was blackout drunk, sick from food poisoning, and had a victim mentality.
"I was only thinking about myself," Harry said. "Looking back at that, there's a lot of shit I would have done different."
Stay tuned for more information on whether Harry did kiss Melinda.
Dave Calhoun announced in March that he would step down at the end of the year, in the wake of the Alaska Airlines blowout. He will face further scrutiny as he testifies before the Senate on Tuesday.
People familiar with the discussions told the Journal that Larry Culp, the CEO of General Electric, turned down Boeing's request that he consider the role.
Culp gained plaudits for turning around GE after taking over in 2018, overhauling manufacturing processes and slashing debt.
David Gitlin, the CEO of home-appliances firm Carrier and a member of the Boeing board, said in a first-quarter earnings call that he removed his name from the list of candidates, citing his commitment to Carrier.
One candidate still in the running is Stephanie Pope, the CEO of Boeing's commercial airplanes division. Her predecessor, Stan Deal, announced his immediate retirement at the same time as Calhoun's resignation. She was formerly the planemaker's chief operating officer, and, like Calhoun, has a background in finance. A third-generation Boeing employee, she started as a finance analyst in 1994.
However, the Journal reports that many insiders are lobbying for a CEO with an engineering background.
Boeing's struggles with the 737 Max have been linked to an emphasis on speed over safety, with delivery goals taking priority over quality control.
Another potential candidate is Pat Shanahan, the CEO of Spirit AeroSystems — the supplier that built the fuselage of the Alaska 737 Max that lost its door plug in midair. The firm is in discussions to be taken over by Boeing, while some parts of the business could be sold to Airbus.
The Journal reported that the CEO discussions are also looking at whether the next leader should be based near Boeing's factories in the Seattle area rather than at its Virginia HQ.
Boeing's decision to move its headquarters away from its traditional base in 2001 attracted controversy. The distance between corporate leaders and manufacturers on the ground has been cited as contributing to the planemaker's struggles in maintaining standards.
Anna Moneymaker/Getty Images; Chesnot/Getty Images; Chelsea Jia Feng/BI
Social media has gotten so bad that the country's top doctor is intervening.
Dr. Vivek Murthy, the US Surgeon General, wrote an op-ed for The New York Times calling for social media to come with a warning label like the ones you find on cigarette packs, writes Business Insider's Geoff Weiss.
In his piece, Murthy said social media is a key culprit of the mental health crisis young people are facing. A warning label reminding people it is "associated with significant mental health harms for adolescents" could help the problem, he argued.
It's not something Murthy can install on his own. The labels would require congressional approval. And Murthy's comparison to cigarette warnings might be misplaced, writes BI's Katie Notopoulos, who suggests explicit lyrics on music might be a better fit.
Murthy has taken shots at social media before. Last year he called for legislation to protect young people from harassment, abuse, and exploitation, and more transparency from tech companies.
Major social media companies remained largely silent regarding Murthy's suggestion, but the tech lobbying group Chamber of Progress was quick to respond.
"Putting a warning label on online speech isn't just scientifically unsound. It's at odds with the constitutional right to free speech," group CEO Adam Kovacevich said in a statement.
Murthy's recommendation comes at a unique time for social media.
If the US ban on TikTok can survive the courts, it will be a watershed moment for the industry. (Yes, TikTok's ties to China muddy the waters, but a successful ban would still mean lawmakers shutting down a popular app used by millions of Americans.)
It's not just TikTok. Generative AI adds more fuel to the misinformation fire social media platforms have been battling for years.
AI tools make it easier for bad actors to fabricate stories, images, and videos that can influence people. And it's all happening in the lead-up to a contentious presidential election. There are also concerns surrounding AI-generated avatars' impact on influencers, writes BI's Dan Whateley.
And yet, things have never been better for some companies.
Meta, the godfather of social media, is perhaps the best example. On January 31, CEO Mark Zuckerberg, along with a handful of other tech CEOS, was grilled by Congress during a hearing on online child sexual exploitation.
More than four months later, though, the only thing that's seemed to change is Meta's stock price. The company's share price is up more than 28% since that contentious hearing.
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Schonfeld; Chelsea Jia Feng/BI
How one hedge fund got off to a booming start this year. Schonfeld's flagship fund is leading returns among the main multistrategy managers. It's an impressive turnaround for a firm that faced takeover talks in 2023. But it hasn't come easy, with the loss of portfolio managers and research executives amid a strategy shift.
Has the market peaked? Investors are worrying the market has reached its top amid record highs, according to Bank of America. The bank identified 10 indicators of a market peak, like elevated M&A activity and sell-side strategists overwhelmingly recommending allocating to stocks. But don't worry, we've only triggered four so far.
June could see a rise in bankruptcies and unemployment. That's according to Wall Street forecaster Danielle DiMartino Booth, who pointed to the rise in corporate bankruptcies over the past year. It's a sign that businesses are struggling under higher interest rates.
3 things in tech
Shriya Bhattacharya
Status updates are so back.Instagram notes are growing at a "wild pace" and the app plans to expand the AIM-like feature for users. Bad news for creators, though: Notes are best suited to mutuals who follow each other, not for the influencing class.
Adobe is having a terrible month. The Department of Justice is suing Adobe over deceptive subscription practices, with the lawsuit claiming the company hides fees and makes it hard to cancel subscriptions. It comes after public backlash over using artists' content to train AI models.
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Marketing's trailblazers. From fast food and fashion to finance and baby formula, here are 34 CMOs changing the game in 2024. Many of them are making fast use of social media platforms like TikTok and investing heavily in AI.
BlackRock's solution to the retirement crisis is a catch-22. To avoid economic catastrophe, CEO Larry Fink argued, people should work longer and save more money. The problem? Many older people who do want to work are overlooked in favor of younger employees.
Zyn could get tougher to buy. The maker of the popular nicotine pouch has paused online sales after receiving a subpoena from the District of Columbia about sales of flavored tobacco products — which have been banned in DC since October 2022.
Boeing CEO Dave Calhoun testifies in Congress on the company's safety culture.
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