Author: openjargon

  • Key holdouts at a Ukrainian diplomatic summit are proof that Putin’s diplomatic playbook is working

    Zelenskyy
    Ukraine's President Volodymyr Zelenskyy flashes a V sign in Lucerne, Switzerland, on June 16, 2024.

    • Brazil, India, South Africa, and Saudi Arabia declined to endorse Ukraine's sovereignty this weekend.
    • It came at the end of a Ukraine peace summit in Switzerland. 
    • Keeping a few powerful countries undecided is one way Russia can limit any diplomatic isolation.

    Over the weekend, Ukraine's President Volodymyr Zelenskyy rallied countries from around the world to support his call for Russia to end its invasion.

    "Russia can start negotiations tomorrow if they pull out of our territories," Zelenskyy said at a peace conference in Switzerland, according to the BBC.

    The conference is one of the most high-profile attempts to date to find an agreement on routes to peace.

    But there are some crucial problems. Russia wasn't there, nor was its key global backer, China.

    Nearly 100 countries did send delegations, including many of Ukraine's most important allies and major non-Western powers.

    At the end of the conference, around 80 signed a document blaming the war on Russia and affirming Ukraine's territorial integrity.

    But it was telling who did not sign — Saudi Arabia, Brazil (which didn't formally attend but sent a delegation), India, and South Africa.

    "Unfortunately there are people who are still balancing," Zelenskyy said of the abstentions.

    He said Russia was seeking to divide the world against Ukraine — evidently with some success.

    Russia's President Vladimir Putin is seeking to drive a wedge between them and the West, using oil, propaganda, and diplomacy.

    It has been especially effective in the "global South" of non-Western powers whose wealth and influence on world affairs is growing.

    Exploiting global divisions

    In the wake of Russia's full-scale invasion of Ukraine in February 2022, the US assembled a coalition of countries to impose punishing sanctions on Russia and isolate it diplomatically.

    However, powerful non-Western countries refused to take part.

    Each of the countries that refused to sign the Ukraine document has strong ties with the US, particularly India and Saudi Arabia, who want American help in regional power struggles.

    But each has also maintained good relations with Moscow, with Putin using Russia's oil and diplomacy to cultivate relations.

    To offset Western sanctions, Russia sold oil at cut-price rates to India and Brazil and has worked closely with Saudi Arabia to control global prices.

    Russia has succeeded in "bringing deep-seated resentment against the West to the fore," wrote Chatham House analyst Natalie Sabanadze in May.

    "Many states have relished the opportunity to defy Western pressure by helping Russia evade sanctions and reaping benefits for themselves in the process."

    Putin has exploited long-standing grievances about Western imperialism and has renewed alliances forged during the Soviet era.

    Russia renews Cold War-era alliances

    During its period of racial apartheid, tolerated by many in the West, the then-USSR opposed it and supported the ANC party, which has ruled since apartheid ended.

    The Soviet Union also helped India in its Cold-War-era clashes with Pakistan.

    Some of those allegiances appear to have held firm.

    Over the past year, Russia has organized conferences with African and Latin American nations. It is seeking to expand the BRICS group of major non-Western economies, viewing it as a bulwark against Western powers.

    Russia has also seized on claims that Western support for Israel in its war against Hamas is evidence of hypocrisy.

    It is to Putin's advantage when those countries see Russia vs. Ukraine and Israel vs. Hamas as equivalent struggles, both complex enough to avoid taking a side.

    Some analysts also suggested a more cynical calculus, telling Business Insider that some countries are simply hedging their bets by refusing to back either Russia or Ukraine.

    Saudi Arabia and India have both trod this middle path.

    Pavan Kapoor, a senior Indian diplomat, said his country did not endorse the statement from Switzerland because "only those options acceptable to both parties can lead to abiding peace."

    For Putin, that fence-sitting is proof of success.

    Read the original article on Business Insider
  • One private equity firm controls more than a dozen of the biggest restaurant chains

    A sandwich artist at Subway makes a sandwich in a Subway store
    Roark Capital has acquired or invested in restaurant brands from Subway to The Cheesecake Factory.

    • Restaurant chains from Subway to Arby's to Buffalo Wild Wings have a common owner.
    • Roark Capital Group has been buying up restaurant chains for nearly 25 years.
    • It's one example of how consumer brands have become consolidated under a handful of owners.

    There's a good chance that just one private equity firm owns one of your favorite restaurant chains.

    Over the last quarter-century, Roark Capital Group has bought up nearly 20 restaurant brands in the US. Its latest acquisition happened last year when it acquired Subway, which operates the most stores out of any restaurant chain in the US.

    But Roark's holdings include other restaurants that you've probably visited before:

    A diagram showing what business's Roark Capital Group owns
    Roark Capital owns almost 20 restaurant brands, from Carl's Jr. to Dunkin'.

    Other notable Roark restaurant holdings include coffee chain Dunkin', Arby's, Jimmy John's, Buffalo Wild Wings, and suburban mall favorites Cinnabon and Auntie Anne's.

    The private equity firm also has investments in The Cheesecake Factory, which is publicly traded, as well as midwestern burger chain Culver's. It also owns the bakery chain Nothing Bundt Cakes and some franchises of Seattle's Best, that coffee chain you used to find at Border's Books.

    Founded in 2001, Atlanta-based Roark has $38 billion in assets under management, according to its website.

    The firm "was named after Howard Roark, the protagonist in Ayn Rand's book The Fountainhead," the firm's website reads. Rand's books have a following among libertarians and other advocates of deregulation and individual enterprise.

    But the website adds: "As a firm of diverse viewpoints, it does not signify adherence to any particular political philosophy."

    While Roark owns a lot of restaurant brands, it's hardly the only private equity player in the industry.

    Hooters was acquired by TriArtisan Capital Advisors and Nord Bay Capital in 2019, for instance. TriArtisan also owns TGI Fridays and P.F. Chang's, according to its website.

    Restaurants aren't the only consumer brands that have become more consolidated under a handful of owners. A handful of multinational corporations, from Nestle to Mars, own hundreds of food and personal care brands.

    Read the original article on Business Insider
  • What ‘Succession’ got right about billionaires — including their quest for internal life

    The fictional Kendall Roy of "Succession" evokes real-life media figures including the Murdochs.
    The fictional Kendall Roy of "Succession" evokes real-life media figures including the Murdochs.

    • The characters on HBO's "Succession" often referenced real events and billionaire figures. 
    • Inspirations include "the Murdochs and such," its costume designer recently told Harper's Bazaar. 
    • But there are less obvious nods to the superrich — and their obsessions — throughout the show.

    The truth is often said to be stranger than fiction, but when it comes to "Succession," it was all pretty strange. 

    The HBO drama, which has won awards for its acting and writing, was incredibly well-researched. With characters based on various business titans and politicians, the show generally depicted the lives of the ultra-ultra rich — the Roy family is said to be worth $18 billion — with skillful accuracy and few exaggerations. 

    There are obvious nods: The Roys, like the Murdochs and the Arnaults, have succession drama that's made for TV. They use their money to fund political campaigns — and even a presidency. And there are many, many private jets.

    But there are also the more subtle nods to the lifestyles of the .0001%, like their obsession with living forever (even billionaire Kim Kardashian seems to have joined the bandwagon).

    They don't wear coats.
    Logan and Colin in "Succession" Season 2
    Logan and Colin in "Succession" Season 2.

    You may have noticed that, no matter the weather, the Roys will eschew coats — other than that bizarre down-trench Shiv was wearing in Norway. It's not because billionaires run hot; it's simply because they don't bother with the elements. Vests, of course, are another story, as proven by Josh Aaronson, who Adrien Brody plays. 

    "Rich people don't wear coats when they go out, because they just go straight from the car into the venue," Mark Mylod, an executive producer of "Succession," told Robb Report.

    The venue — or the private jet, as Kieran Culkin, who plays Roman Roy, explained in a recent interview with Esquire. 

    "The coat thing is kind of interesting and does seem to track," the actor said. "They drive right up to the jet or helicopter, like why was I wearing a fucking coat? It's just cumbersome. I get it now, they don't ever have to walk anywhere or do anything."

    Their dress code is stealth wealth.
    From left: The fictional media scions on HBO's "Succession," Kendall Roy and sister, Shiv Roy.
    From left: The fictional media scions on HBO's "Succession," Kendall Roy and sister, Shiv Roy.

    The Roy siblings' wardrobes and styling — full of monochromatic looks, suit blazers in every hue of navy, charcoal, and black, and of course, the errant hair tie — have been dissected endlessly.

    Anyone with even a passing interest in these fictional media oligarchs can probably conjure a vision board around "stealth wealth," or "quiet luxury" — a reference to the printless, logo-less look that some members of the ultra-rich favor. Kendall's $625 Cap from Loro Piana, a brand James Murdoch — one of the media mogul Rupert Murdoch's sons — wears, and Shiv's no-nonsense bob, are two strong examples.

    The looks often tell a story about a particular character's mental state — recall Kendall's chunky pendant necklace accessorizing his crew-neck tee in the Season 3 finale, when the siblings stage a half-baked intervention that turns into a volley of recriminations. 

    But they also reference real-life counterparts, like the "Murdochs and such," Michelle Matland, the show's costume designer, told Harper's Bazaar last month.

    Kendall has certainly been known to storm a boardroom meeting or two in a no-tie-suit look that evokes Lachlan Murdoch, Rupert Murdoch's eldest son.

    He also sometimes displays LVMH scion Alexandre Arnault's flair for a statement-sneaker look, such as when he attempted to rock a pair of Lanvin sneakers at a meeting, not unlike the Arnault son's effort at making a pair of Tiffany-blue Nike Air Force 1s — a collaboration between the brands — happen at a recent Tiffany event.

    In a case of art imitating life or vice versa, Elle compared Ivanka Trump's blunt-blonde-bob look in 2019 to that of the polished Shiv Roy of season 2, who was debuting a sleeker look as she began positioning herself as a more serious contender for the reins to the fictional Waystar Royco, her father's media empire. 

    They want to live forever.
    Living+

    When Kendall first presented his take on Living+ — "personalized longevity programs" — there were sideways glances and eye rolls. But in reality, billionaires love the prospect of immortality. They can buy almost anything, so why not buy a little more life? 

    A number of tech billionaires, including Peter Thiel and Larry Ellison have tried fending off a visit from the grim reaper by focusing on various anti-aging practices — none of which involve exclusive Waystar content.

    "Death has never made any sense to me. How can a person be there and then just vanish, just not be there?" Ellison once told his biographer.

    The solution to the plebeian problem of death is different for each billionaire. Thiel has donated and invested millions in the cause, including organizations that focus on cryonics, the practice of freezing human corpses to stop the aging process. Jeff Bezos has reportedly put money into a company that seeks to "reverse disease, injury, and the disabilities that can occur throughout life."

    Even mere millionaires are seeking answers. Bryan Johnson, a biotech CEO, said he has reduced his biological age by five years thanks to a fastidious routine involving waking up at 5 a.m., taking over 100 supplements, and eating exactly 1,977 calories a day.

    Most recently, Johnson sat down with billionaire Kim Kardashian to discuss the topic at what he called a "don't die dinner." Other guests included Kardashian's mother, Kris Jenner, and sister, Khloe, as well as plastic surgeon to the stars Jason Diamon and pop-neuroscientist Andrew Huberman.

    Their houses really look like this.
    Kendall Roy and his mother-in-law, Marcia.
    Kendall Roy and his stepmother, Marcia.

    If Logan Roy's house seems extravagant, that's because people need to cough up millions to afford it — or if you're Connor Roy, it's exactly $63 million, to be precise.

    And real billionaires are lending their properties for the fictional Roys to toil around in.

    In the season premiere, as Kendall, Shiv, and Roman all plot on creating a new media brand, "The Hundred," they traipse around a beautiful home in sunny Los Angeles. That home belongs to the 28-year-old billionaire Austin Russell, the founder and CEO of autonomous-car-tech company Luminar Technologies, Quartz reported

    Russell bought that mansion for a cool $83 million, a bit more than Connor is paying for Logan's house.

    And the mansion where Josh Aaronson, the Waystar Royco investor who invited Kendall and Logan over in season 3, is located in the Hamptons and hit the market for $55 million in April, the Robb Report said.

    They emerge from helicopters like stepping off the bus.
    Logan Roy, the patriarch on HBO's "Succession."
    Logan Roy, the patriarch on HBO's "Succession."

    Kieran Culkin, who plays the impish fascism-apologist Roman Roy, has mentioned the show's "wealth consultants" a few times in his public appearances. They help get the Roys' subtle behaviors right, he's said — such as the casual way they exit helicopters.  

    "You know where the propeller is. You wouldn't be ducking your head," he told the "Schitt's Creek" star and co-creator Dan Levy in 2020. 

    Helicopters are part of the arsenal of transportation that the billionaire elite and royalty favor, with leaders including Brunei's Sultan Hassanal Bolkiah and the English royal family relying on choppers, especially for shorter commutes, Insider has previously reported.  

    They really do have armies of household staff.
    Shiv Roy and Logan Roy.
    Shiv Roy and Logan Roy.

    From taking coats off guests at Logan's house to Kendall's "skeleton crew" who help him make coffee for Frank in a season 1 episode, the Roys rely on staff within their house throughout the series.

    And it turns out billionaires do, too, in their everyday lives.

    David Youdovin, the founder and CEO of Hire Society, a recruitment firm that helps high-net-worth individuals and families in New York City, the Hamptons, and Palm Beach, staff their homes and businesses, told Insider in 2018 that house staff can make a major difference in making life easier for billionaires.

    "The vast majority of our clients are the .01% — they have multiple homes, private aircraft, and several members of domestic staff," Youdovin, who worked as a butler and estate manager for a billionaire family before founding Hire Society in 2012, said.

    "There's major altruism in putting good people to work with these families," Youdovin told Insider at the time. "These salaries can be life-changing, especially for people not originally from the United States." 

    Household-staff positions can pay upward of six figures, and positions range from drivers to butlers to nannies. Plus, there's the chance to win $1 million if you hit a home run playing baseball with your employer.

    Read the original article on Business Insider
  • China’s Xi accused the US of trying to trick him into invading Taiwan, but said he won’t take the bait: report

    Chinese leader Xi Jinping reviewing the honor guard at the Great Hall of the People in Beijing
    Chinese leader Xi Jinping reviewing the honor guard at the Great Hall of the People in Beijing on May 31, 2024.

    • Xi Jinping accused the US of trying to trick China into invading Taiwan, per the Financial Times.
    • The Chinese leader made the claim to European Commission President Ursula von der Leyen, per the FT.
    • One expert told BI it's a sign that China is "genuinely surprised" by the attitude of US officials.

    Chinese leader Xi Jinping has accused the US of trying to trick China into invading Taiwan, but he said it won't take the bait, the Financial Times reported, citing people familiar with the matter.

    According to the FT, Xi made the accusation during a meeting with European Commission President Ursula von der Leyen in April last year.

    Xi has issued the same warning to officials in his own country, one source told the FT, but this would be the first time he made the claim to a foreign leader, the outlet said.

    During the meeting, according to a press statement released at the time, Xi stressed that Taiwan was at the "core" of China's interests and that "if anyone expects China to compromise and concede on the Taiwan question, they are having a pipe dream and would shoot themselves in the foot."

    Xi's accusations against the US didn't feature in the statement released last year.

    For decades, the US has adopted a strategy of "strategic ambiguity" toward Taiwan, positioning itself as the country's most steadfast ally, while declining to explicitly say whether it would come to Taiwan's aid if China attacked.

    But the mood in Washington, DC, seems to be shifting, with Congress showing itself more "overtly supportive of Taiwan than only a few years ago," Graeme Thomson, an analyst with the Eurasia Group, told BI in November.

    Last month, a US congressional delegation met with senior Taiwanese officials to discuss US-Taiwan relations, a few days after China conducted military drills around the island.

    During the visit, Rep. Andy Barr, cochair of the Taiwan caucus in Congress, said there should be "no doubt" and "no skepticism" in the US, Taiwan, or anywhere in the world around "American resolve to maintain the status quo and peace in the Taiwan Strait," according to the Associated Press.

    President Joe Biden has repeatedly stated that the US would defend Taiwan.

    Kerry Brown, director of the Lau China Institute at King's College London, told BI that Xi's reported accusation is a sign that China is "genuinely surprised" and "shocked" by the US' more recent "aggressiveness."

    "The US has plenty of public figures now talking of Taiwan like it is a new Ukraine, and some even saying it needs to be diplomatically recognized," Brown added.

    Mike Pompeo, the secretary of state under the Trump administration, and John Bolton, a former national security advisor, are among those calling for such a measure.

    This is a problem for China, Brown said, as it is "clearly a red line and one that it will need to do something about if it is crossed."

    During a meeting in April, Chinese Foreign Minister Wang Yi warned US Secretary of State Antony Blinken not to cross China's "red lines" on sovereignty, security, and development interests.

    Brown, who served as First Secretary at the UK Embassy in Beijing from 2000 to 2003, said that behind Xi's "complaint" is the hope that other Western allies "might just calm the US down."

    Whether it will have any impact at all is another matter, he added.

    Last week, Adm. Samuel Paparo, the top US admiral in the Pacific, told The Washington Post that the US could deploy thousands of drones if China invades Taiwan, with the "unmanned hellscape" buying time for the US military to come to Taiwan's aid.

    Read the original article on Business Insider
  • This Canadian city has found the sweet spot between low cost of living and high quality of life

    Mount Royal Park Montreal
    Montreal, Canada.

    • Many Americans are struggling to afford a fun lifestyle amid the high cost of living. 
    • But just north of the border, Montreal offers residents a balance between high quality of life and low prices. 
    • Only a handful of major cities have found that sweet spot, according to consulting firm Mercer.

    Many of the world's most exciting and beautiful cities are also the priciest to live in.

    But one Canadian city has found the perfect balance between offering its residents a great quality of life for a relatively low cost, according to Mercer's 2024 cost of living report.

    The study compared 226 cities worldwide according to their cost of housing, transport, food, clothing, household goods, and entertainment.

    Montreal ranked 118th in the world for its overall cost of living but came in 20th for quality of life, giving it the best overall score.

    While Hong Kong, Singapore, and Zurich ranked as the three most expensive cities, they did not perform as well on quality of living.

    Montreal is Canada's second-largest by population size, with 1.78 million residents.

    Sitting close to the border of the US state of Vermont, it is known for its vibrant cultural scene, great food, tree-lined streets, and providing high-quality education and healthcare.

    "It's extremely cultural, great food scene, safe, bilingualism is an asset," one US expat who relocated from Texas to Montreal previously told Business Insider.

    The cost of living in Montreal is cheaper than in 74% of cities in North America, according to comparison site Expatistan.

    Estimated monthly costs for a single person living in Montreal add up to $2,374. Compare that to New York, where a single person can expect to pay $5,412 a month on average, according to Expatistan data.

    Mercer found that only seven other cities in the world achieve a similar balance to Montreal — Warsaw, Budapest, Ljubljana, Kuala Lumpur, Zagreb, Panama City, and Santiago.

    "This list of eight cities should be of interest to families looking for a better lifestyle, remote working/digital nomads, and companies looking for locations that will be attractive to top talent," Mercer noted in its report.

    Read the original article on Business Insider
  • ‘House of the Dragon’ fans complained that a child-murder scene wasn’t gory like the books. A showrunner explained the difference.

    Mark Stobbart as Cheese and Sam C. Wilson as Blood in "House of the Dragon" season two.
    Mark Stobbart as Cheese and Sam C. Wilson as Blood in "House of the Dragon" season two.

    • "House of the Dragon" season two adapted an infamous murder scene from the book.
    • But some fans said the murder, by mercenaries Blood and Cheese, wasn't gory or shocking in the show.
    • Showrunner Ryan Condal explained how the show takes a different approach to the source material.

    Warning, spoilers ahead for the "House of the Dragon" season two premiere.

    The "House of the Dragon" season two premiere brings the infamous Blood and Cheese murder to life, but fans are disappointed that it isn't as gory or disturbing as it is in the book, "Fire and Blood."

    The premiere sees Daemon Targaryen (Matt Smith) order two mercenaries, Blood and Cheese, to kill Aemond Targaryen in revenge for a killing at the end of season one.

    He orders them to kill "a son" if the pair can't find Aemond, which they can't.

    The pair fail to find Aemond, but they do find his sister, Helaena Targaryen, the mother of two toddlers.

    Cheese threatens to kill her if she doesn't choose one of her two toddlers to die.

    In a shocking moment, the pair stab her boy, Jaehaerys, to death in his bed.

    However, fans are disappointed that the brutal death wasn't shown on camera. The scene instead shows Helaena as she flees the room.

    Fans reacted to the scene and called it underwhelming. Some compared it unfavorably to the gory "Red Wedding" episode in "Game of Thrones" season three, which saw the slaughter of several main characters, including the pregnant Talisa Stark.

    https://platform.twitter.com/widgets.js

    https://platform.twitter.com/widgets.js

    The Blood-and-Cheese scene is even more extreme in the book — Blood kills a guard while Cheese sexually assaults the surviving sister. In that version the girl is older than a toddler, though still a child.

    Helaena also tells the killers to take her other child, Maelor, but Blood leaves him to live, knowing that his mother would have let him die.

    This is the type of violence that helped build such a buzz around "Game of Thrones" during its original run, and there's clearly some pressure on the prequel series to turn it into another pop-culture juggernaut.

    https://platform.twitter.com/widgets.js

    Showrunner Ryan Condal explained the differences to The Hollywood Reporter. He said: "It was less about trying to top the book, it was just more about the practicality of where we were."

    He noted that the show condenses the book's 30-year history down to 20 years, meaning that Maelor isn't in the series at all.

    "So Maelor does not yet exist, and we only have the twins. So working from that place, we just wanted to try to make Blood and Cheese a visceral television sequence," Condal said.

    "We decided to tell it from their point of view and make it like a heist gone wrong."

    Read the original article on Business Insider
  • Are Stevan and Alara from ‘Perfect Match’ season 2 still together?

    Stevan Ditter and Alara Taner couple up in "Perfect Match" season two, episode four.
    Stevan Ditter and Alara Taneri couple up in "Perfect Match" season two, episode four.

    • Stevan Ditter and Alara Taneri are one of the most consistent couples in "Perfect Match" season two.
    • They've quickly become a fan favorite due to their loyalty to each other.
    • Here's what we know about their relationship on the show and whether they are still together.

    Warning: Spoilers ahead for the first nine episodes of "Perfect Match" season two.

    Stevan Ditter and Alara Taneri may be the strongest couple in "Perfect Match" season two after the latest episodes.

    But it's unclear whether they're still together.

    The pair originally appeared in two separate Netflix series, "Too Hot To Handle" and "Dated & Related."

    "Perfect Match" series draws together contestants from across Netflix's reality show slate and gives cast members a second chance at love (or boosting their fame). Stevan and Alara seemed to be more focused on the love part.

    The couple meet for the first time when they are paired on a date in episode three. At the time, Stevan was matched with another contestant, Xanthi Perdikomatis, but he immediately gels with Alara and chooses to match with her in the next coupling session.

    Since then, the pair have been completely focused on each other, even when sent on dates with other contestants.

    They may have a chance to become the winning couple in the season two finale, which airs on Friday on Netflix. But, there is a chance they did not make it in the outside world. Here's why.

    Stevan doesn't follow Alara on Instagram.

    Stevan Ditter and Alara Taneri in a matching red outfit in "Perfect Match" season two, episode nine.
    Stevan Ditter and Alara Taneri in a matching red outfit in "Perfect Match" season two, episode nine.

    The biggest clue that Stevan and Alara are no longer seeing each other is who they're following on Instagram.

    Alara follows Stevan, but Stevan does not follow her back even though he does follow some of his other "Perfect Match" costars.

    "Perfect Match" contestant Harry Jowsey said on the latest episode of his podcast released on June 11, "Boyfriend Material with Harry Jowsey," that Stevan is currently dating someone.

    Harry mentioned the girlfriend while apologizing for lying that Stevan had sex with Holly Scarfone while filming "Perfect Match" season two.

    "He's also happily in a relationship, so I'm deeply sorry to his girlfriend for saying that," Harry said.

    Harry didn't specify whether the girlfriend was Alara, which means they could have split.

    Alara lives with another "Perfect Match" contestant in LA.

    Initially, Stevan and Alara lived far from one another: she in London and he in Los Angeles.

    On June 2, "Perfect Match" season two star Micah Lussier said in a TikTok video that she had moved to LA and was living temporarily with Alara.

    It's unclear when Alara moved to LA or into the apartment with Micah.

    But it is likely that Alara moved to LA after the show was filmed, since she said she lived in London on the show. This could mean that she moved to LA to get closer to Stevan and the pair are still dating.

    Fans will likely find out more on Friday, when "Perfect Match" season two finale airs on Netflix.

    Read the original article on Business Insider
  • Having an only child means we have more time and resources for her. But it doesn’t make her spoiled.

    Mom of an only child posing for photo
    Having an only child means the author can give her all the attention and resources her daughter needs.

    • Before getting pregnant I wanted more than one child. 
    • But pregnancy and postpartum were very hard, so we decided to have an only child. 
    • She was diagnosed with autism and I'm glad I have more time and resources for her. 

    As the parent of an only child, I often field questions like, "Does she have any siblings?" or "Are you going to have any more?"

    While most of the time no one says anything blatantly offensive, it feels like there is underlying judgment when I am questioned about my daughter's status as an only child.

    I considered having more kids before I got pregnant

    At one point, I considered having more than one child. It felt like something you were supposed to do. I had internalized stereotypes about only children being lonely and spoiled brats. I grew up with siblings, and so did my husband, although his sister was born when he was 9. They didn't have quite the same playmate relationship I did with my close-in-age siblings.

    Then I got pregnant. And I was miserable. I started to question whether my body and mind could really keep up with multiple children if my chronic physical and mental health conditions seemed to be making it difficult to even grow one.

    Pregnancy seemed to make me into even more of a physical mess, as well as a moody rage machine. And my daughter's newborn days were overshadowed by feeding struggles, reflux, and postpartum depression and anxiety. Unsurprisingly, my husband was fully on board with never, ever having to go through it all again. I couldn't wrap my head around trying to provide care for another small human when it seemed like I was barely managing it with one.

    Being a mother is still incredibly challenging for me

    As an only child my daughter does get more by default. I've been able to read aloud hundreds of books to her, help her with science experiments, and push her for what seems like hours on the swing without having to juggle another child's needs. We can visit her aunt and uncle in Colorado every other summer and take other trips because we are able to buy three plane tickets instead of four or five. We are able to invest in educational experiences for her and save money for college, which we definitely would not be able to do in the same way or at all with multiple children.

    I don't believe more one-on-one time or more finances dedicated to her have made her spoiled, though. She doesn't get lots of presents for Christmas or her birthday. And I believe that children thrive with boundaries, so she's definitely not getting whatever she wants all the time, either. There are plenty of times that she hears no, whether it is to an activity, a toy, or to my husband or me not being able to do something.

    My daughter was also recently diagnosed with autism, and I am glad that we have the resources to get her the therapies and interventions she needs and to be able to send her to a school that is a good fit for her. I don't mean just financial resources but all the time and energy that is involved in filling out paperwork, finding providers, and taking her to appointments. And then implementing behavioral techniques at home and finding and purchasing tools and activities that aren't covered by insurance.

    My daughter's developmental delays and autism mean she needs more of my physical and emotional reserves than a neurotypical child. I'm grateful I'm able to spend focused time with her at home and provide her with the therapies she needs because it wouldn't be possible with multiple children.

    Although everyone might not see it this way, my daughter being an only child has really turned out to be a blessing for both me and her.

    Read the original article on Business Insider
  • Some couples think receiving pricey wedding gifts is payback for putting on a ceremony. Others say it’s tacky and entitled.

    Table full of wedding gifts.
    Wedding guests are debating over whether it is expected they pay a certain amount for their gift.

    • People on social media are debating "pay your plate" wedding etiquette, calling it tacky.
    • Some couples, though, expect their guests to cough up for expensive gifts.
    • The high cost of living has led some couples to choose practical investments over lavish weddings.

    Weddings are expensive, but guests are saying it's not up to them to help couples make ends meet with pricey gifts.

    The idea of "pay your plate" is trending on social media, with some saying it's rude not to try to make up the price of your attendance to a wedding through gifts.

    One TikToker, who goes by the name EmpathEyes, posted a video in April which is still causing debate among viewers.

    She said that even paying for your meal at a wedding isn't enough,

    "Are you guys crazy?" she said. "You don't go to a wedding to just pay for your plate. You go to the wedding to pay for you, you cover your plate, and give them something."

    EmpathEyes said she thought that if guests couldn't afford to pay that much they "probably should sit it out."

    "I just don't think $50 or $100 is cutting it anymore," she said.

    Guests aren't convinced, though.

    In response, a fellow TikToker, Kat Thomas, said this opinion was "entitled" and "tacky."

    Thomas said she had never once thought that she should have to cover the cost of her own plate at any wedding she had attended.

    "I've never even thought about how much a plate of food costs at a wedding because that's not what it's about," she said. "It's about celebrating the bride and the groom, and watching them get married and celebrating a milestone with your friends or family, whoever invited you."

    "Have we reached a point in society where capitalism is just rotting people's brains to where they're turning every single thing that they do in their lives into a GoFundMe campaign?" Thomas added.

    @theeekatthomas

    I’m so confused by this take but maybe I’m tripping 🤔 expecting guest pay for their “plate” at a wedding is tacky asf in my opinion #wedding #ceremony #reception #weddinggift #pay #greenscreenvideo

    ♬ original sound – KAT

    https://www.tiktok.com/embed.js

    TikToker Livvy Farmer also weighed in on the debate, saying anyone with this opinion should be mad at themselves for "planning a wedding that is completely out of your budget."

    "Because it sounds like you can't afford to have the wedding that you're planning," she said.

    Farmer added that couples sometimes act like their weddings are "the Met Gala" and "people are waiting on the edge of their seats" for the event.

    "If you're expecting your wedding guests to shovel out 300 plus dollars to attend your wedding, you are out of your fucking mind," Farmer said. "It's not your wedding guests' responsibility to fund your ridiculously expensive wedding."

    She added she didn't want to be made to feel like she was "the broke one" for not bringing an expensive enough gift.

    The debate continued in the comments. While some said they were brought up to always think of how much a plate would cost and buy a gift accordingly, others said guests should only be expected to gift what they can afford.

    One person wrote, "Am I a guest or a customer?" Another said, "An invite is not an invoice."

    "I told everyone who traveled to my wedding that their presence was the wedding gift!" one commenter wrote. "Traveling ain't cheap."

    Others said they believed guests showing up is a present in itself.

    "If they decide to give you a present, that is just a bonus," one person said. "Expecting a gift is so tacky."

    Wedding etiquette is a big topic of discussion, down to what you should wear as a guest, how guests should be invited, how much you should fork out on the celebration as a couple, and how much you should actually spend on a gift for the bride and groom.

    With rising costs of living, mounting debts, and expensive rental and mortgage payments plaguing Gen Zers and millennials, some couples are deciding a lavish ceremony and party aren't worth the money.

    For example, a father recently told Business Insider he gave his daughter $20,000 to spend on a wedding and was happy when she used the money for a down payment on a house instead.

    According to a survey by Newsweek last year, while 21% of millennials aged 25 to 35 and 25% of millennials aged 35 to 44 thought a budget of $50,000 or more was appropriate for a wedding, 25% of Gen Z respondents said $10,000 – $20,000 was more reasonable.

    Read the original article on Business Insider
  • Jeff Bezos and Bernard Arnault are worth a combined $404 billion — here are the routes they took to achieve mega-wealth

    Collage of Jeff Bezos on the left wearing a suit and bowtie and Bernard Arnault ont he right wearing a navy blue suit and tie
    Jeff Bezos and Bernard Arnault.

    • Jeff Bezos and Bernard Arnault have a combined net worth of around $404 billion.
    • The two business titans are among the world's richest people, Bloomberg's Billionaires Index shows.
    • Despite both amassing vast fortunes, the ways they built their wealth differed significantly.

    Jeff Bezos and Bernard Arnault are two of the world's richest people, with a combined net worth of around $404 billion.

    As of Monday, Amazon founder Bezos is ranked first on Bloomberg's Billionaires Index, with a net worth of $206 billion. Arnault, the owner of the luxury goods conglomerate LVMH, is ranked third, with a net worth of $198 billion.

    Arnault is the CEO and chair of the French luxury conglomerate, with companies spanning fashion, jewelry, watches, perfume, and alcohol, including brands Tiffany & Co and Dom Pérignon.

    Although both billionaires have built their own empires, how the pair acquired wealth is vastly different.

    This is how they made their fortunes:

    Jeff Bezos’ first job was at a McDonald’s.
    Jeff Bezos smiling whilst his arms are folded

    The billionaire said in a 2001 interview with Fast Company that his job at a McDonald's restaurant in Miami was "really hard."

    "They wouldn't let me anywhere near the customers. This was my acned-teenager stage. They were like, 'Hmm, why don't you work in the back?'" Bezos said.

    Bezos majored in computer science at Princeton University.
    Jeff Bezos young wearing a light blue shirt and beige trousers

    A book called "The Everything Store: Jeff Bezos and the Age of Amazon" said he joined a telecommunications startup called Fitel after graduating from Princeton. He then quit Fitel and went to work for Bankers Trust as a product manager, where he focused on selling software pension-fund clients.

    After two years at Bankers Trust, he joined the hedge fund D. E. Shaw, and became a senior vice president after only four years.

    He left his hedge fund job in 1994 to start what would become Amazon.
    Jeff Bezos stood whilst leaning on two stacks of books

    Bezos decided books were the best products to start selling online. He then started Amazon.com in a garage in Seattle.

    Amazon sold books to people in all 50 US states and more than 45 countries in the first month of its launch.

    Amazon went public in 1997.
    Jeff Bezos laughing next to Jay Leno

    In March 1997, Amazon had about 80,000 average daily visits, TechCrunch reported. It had only 256 employees that year.

    In the years that followed, Amazon extended its product range beyond books to include electronics, tools, toys, CDs, and more.

    Bezos invested $250,000 in Google in 1998, before its IPO in 2004.
    Time Magazine then named Bezos as its Person of the Year in 1999 after Amazon rapidly grew.

    Bezos had the same annual base salary of $81,840 for decades while he was CEO, but his annual total compensation for many years exceeded $1 million, owing to costs related to security and business travel.

    Bezos founded space tourism company Blue Origin in 2000.
    Jeff Bezos wearing a cowboy hat and blue Blue Origin jumpsuit
    Jeff Bezos walks near Blue Origin's New Shepard suborbital spaceship after flying into space.

    He also bought The Washington Post for $250 million in 2013.

    He became the world's richest person for the first time in 2017, briefly overtaking Microsoft's Bill Gates. That same year, he said he'd sell $1 billion worth of Amazon stock annually to fund Blue Origin, per Reuters.

    Bezos announced he was stepping down as Amazon’s CEO in 2021
    Jeff Bezos

    After spending 27 years leading the company, Bezos announced he was transitioning to become Amazon's executive chairman.

    Amazon hit nearly $575 billion in net sales in 2023.
    Jeff Bezos and Lauren Sanchez on his yacht

    The company has hundreds of fulfillment centers around the world. It sells millions of products, including appliances, clothing, groceries, and toiletries, and it also offers cloud computing services.

    Bezos reportedly owns a $500 million megayacht, which set sail last summer. But in 2022, he pledged to give away most of his wealth to charity, CNN reported at the time.

    Amazon had a market cap of $1.8 trillion in February.

    Arnault started out working for his father's construction company after college.
    Bernard Arnault wearing a camel colored coat and gray suit  sat next to his wife

    After studying engineering at the École Polytechnique, Arnault went to work for his father's construction firm Ferret-Savinel, Bloomberg reported.

    Arnault acquired Agache-Willot-Boussac in 1984, which was verging on bankruptcy.
    Bernard Arnault young wearing a suit

    The company owned brands like French department store Bon Marché and Christian Dior, The New York Times reported. He renamed the firm Financière Agache and kickstarted a turnaround effort, which helped it earn $1.9 billion in revenue just a few years later, the Times reported.

    He bought a chunk of capital of the French luxury fashion house Celine in the late 1980s. Years later, it was integrated into the LVMH group.

    He went on to become LVMH Moët Hennessy Louis Vuitton’s largest shareholder.
    Bernard Arnault  and his wife sat next to Karl Lagerfeld

    Champagne company Dom Pérignon was one of the initial brands part of Moët Hennessy, which later merged with Louis Vuitton to create LVMH in 1987.

    He spent $2.6 billion buying up shares to become the company's largest shareholder and eventually its chairman and CEO by 1989, per The Times.

    Arnault quietly built a 20.2% stake in Hermès in the years that followed through its subsidiaries and equity swaps, Bloomberg reported.

    His 5 children also work for LVMH and its brands.
    Bernard Arnault and his wife and children standing posing

    In 2011, he acquired the Italian jewelry brand Bulgari when it was struggling, Reuters reported.

    LVMH now owns more than 75 brands, its website says.

    The luxury goods group made €86.2 billion in 2023.
    Bernard Arnault on a private jet signing a document

    Arnault said in January, when its earnings were released, "Our performance in 2023 illustrates the exceptional appeal of our Maisons and their ability to spark desire despite a year affected by economic and geopolitical challenges."

    It seems like Arnault has no plans to slow down. He told The Financial Times in 2019, "we're just getting started."

    Read the original article on Business Insider