Author: openjargon

• Uber Eats workers can't deliver orders on foot anymore in New York City.
• Uber made the change last week, citing the city's new pay law for gig delivery workers.
• One Uber Eats worker said walking can actually be faster than fighting traffic in the busy city.

Uber doesn't want its delivery workers running — literally — around New York City anymore making deliveries.

As of last week, the delivery service no longer allows gig workers to deliver orders on foot in the city, according to an email shared with Business Insider. Its reason: walking workers don't deliver enough orders to be compatible with New York's recently enacted pay law, which mandates that workers who make deliveries through a gig work app make at least $19.56 an hour before tips.

"Because New York City's Minimum Pay Rate encourages apps to use workers' time more efficiently, and walkers have fewer delivery opportunities that take more time to complete, as of May 28th we are removing the option to deliver as a walker," Uber wrote last month in an email sent to couriers in the city.

The email directs workers who previously made deliveries by walking to use other means, such as a car, motorcycle, moped, or bike. It also contains a link to a company called Zoomo, through which Uber contractors can pay to rent e-bikes by the week.

Uber spokeswoman Freddi Goldstein confirmed the change in an email to BI.

Despite Uber's efficiency claim, Makeda Charles, who started delivering food for Uber Eats in New York City last year, said walking can be faster than fighting through traffic in America's most populous city.

Charles focused on delivering orders in Midtown Manhattan and the Financial District, and her trips usually involved walking no more than a few blocks, she told BI. She credits her Uber earnings for helping her stabilize her life after experiencing homelessness.

"It makes sense for a city like New York where everybody walks," she said of Uber's walking delivery option. Since Uber ended the walking option, she has gotten a fulfillment job at Amazon.

Goldstein did not respond to a question from BI about how Uber determined that deliveries made on foot were less efficient than alternatives in New York City.

Delivery services have made other changes over the last several months in the name of New York City's minimum wage law for gig workers. Uber Eats was one of multiple services that added a fee earlier this year to offset the higher wages for delivery workers.

Uber Eats and DoorDash also took away the option for New York City customers to tip their delivery person when paying for their order. Now, they can add gratuity only after an order has been completed or picked up.

Delivery apps have also been pushing back on a minimum pay law for gig workers in Seattle.

There, the companies have pushed workers to testify against the law and have sent them miles out of the way to avoid paying the higher wage.

Do you work for Uber, DoorDash, Instacart, Walmart Spark, or another gig delivery service and have a story idea to share? Reach out to this reporter at abitter@businessinsider.com

• As the 2024 race heats up, Trump is getting support from various billionaires and wealthy business leaders.
• Some are true believers, while others backed Trump's GOP rivals before coming around to him.
• Here are some of the billionaires who are contributing to Trump this year.

As former President Donald Trump seeks a second term in the White House, he's increasingly turning to billionaires to power his campaign.

Some of them are longtime associates and supporters — true believers who know the former president from his days in the business world — while others are relative newcomers, such as longtime GOP megadonors who backed his 2024 rivals or even previously supported Democrats.

The backers represent diverse industries, from traditional red-state oil titans to formerly left-leaning Silicon Valley elite.

Each lists different reasons for their choice: Some take issue with Joe Biden's proposed "billionaire tax," while others prefer Trump's tough stance on immigration.

"I share the concern of most Americans that our economic, immigration and foreign policies are taking the country in the wrong direction. For these reasons, I am planning to vote for change and support Donald Trump for President," Blackstone CEO Steve Schwarzman said in a statement to Axios.

In 2022, the finance billionaire had said he would not support Trump in the primary and called on "the Republican Party to turn to a new generation of leaders."

Here are some of the most notable billionaires who are contributing to Trump's 2024 campaign, including to his "Trump 47" joint fundraising committee, which splits proceeds between the Trump campaign and the Republican National Committee, and the MAGA Inc. super PAC.

Steve Schwarzman

Blackstone CEO Steve Schwarzman seemed to rebuke Trump following the 2022 midterm elections when he said the Republican Party needed "a new generation of leaders."

But last month, he said he will vote for the former president in November. Axios, which first published the news, reported that he will donate to Trump. In 2020, Schwarzman, who is worth $37.9 billion, per Forbes, contributed millions to his reelection campaign.

"The dramatic rise of antisemitism has led me to focus on the consequences of upcoming elections with greater urgency," he said in his statement.

A long-term Republican donor and powerful influence on Wall Street, Schwarzman's endorsement could inspire other business leaders to consider the candidate.

Miriam Adelson

Miriam Adelson — the widow of casino mogul Sheldon Adelson who received a Presidential Medal of Freedom from Trump — has officially announced she would once again back the former president — a coup for his campaign finances.

Her endorsement comes with quite a bit of cash: Adelson, whose net worth stands at $29.3 billion, according to Forbes, is bringing back her Preserve America super PAC and will donate more than $90 million to reelect Trump.

In 2020, she and Sheldon were Trump's biggest donors, contributing more than $120 million to his campaign, as well as to other Republican causes and candidates.

Harold Hamm

Harold Hamm, an oil and gas magnate worth $18.5 billion, per Forbes, has contributed $614,000 to the Trump 47 Committee and $200,000 to the Trump-aligned MAGA Inc. super PAC.

Like several other billionaire donors, Hamm wasn't always convinced Trump was the right man for 2024. He contributed thousands to Florida Gov. Ron DeSantis and former Ambassador Nikki Haley in the primaries.

It's even been reported that he told Trump to end his presidential campaign last year, citing the "chaos" the former president caused.

Hamm's support may give some insight into how Trump is doing with oil and gas money, which he has been courting for months.

"Republican, Democrat… I'm an oilocrat," he told the Financial Times in 2022.

Richard and Elizabeth Uihlein

Richard and Elizabeth Uihlein — who are worth a combined $13.6 billion, per Forbes, thanks to their packing and shipping company Uline — have long been reliable donors to a variety of conservative causes and candidates, including bankrolling an effort to make it harder to amend the Ohio constitution in 2023.

The Uihleins started this cycle supporting Florida Gov. Ron DeSantis's presidential bid, and each gave $1.5 million to DeSantis's super PAC, Never Back Down.

Elizabeth told the Financial Times in March that she and her husband would donate a similar amount to Trump — while also bemoaning the fact that she and her husband had to spend money on the presidential race at all.

"These two guys are very well-defined. I don't understand why everybody has to give all this money," she told the outlet, referring to Trump and Biden. "Neither of them have to spend a penny. We all know who they are. It's ridiculous."

Their support came at a critical time, providing Trump with news of a much-needed boost.

Douglas Leone

Venture capitalist Doug Leone, a partner at and former head of Sequoia who Forbes estimates is worth $8 billion, announced earlier this month that he'd once again be backing Trump — despite saying in 2021 that the former president had lost his support after the January 6 attack on the capital. In 2020, Leone donated about $700,000 to Trump's reelection campaign.

"I have become increasingly concerned about the general direction of our country, the state of our broken immigration system, the ballooning deficit, and the foreign policy missteps, among other issues," he wrote on X. "Therefore, I am supporting former President Trump in this coming election."

Leone represents a small but growing Silicon Valley sect that has turned to the former president. Venture capitalists David Sacks and Chamath Palihapitiya, as well as Leone's fellow Sequoia partner Shaun Maguire, have endorsed Trump for the first time this election cycle.

Kelcy Warren

Kelcy Warren, the chairman and former CEO of the pipeline company Energy Transfer Partners with a net worth of $6.1 billion, according to Forbes, has given $814,600 to the Trump 47 Committee. In 2020, he contributed $10 million to a pro-Trump super PAC.

Warren's company is the owner of the Dakota Access Pipeline, the construction of which spurred major protests by environmental activists and the Standing Rock Indian Reservation in 2016.

Though he was a major Trump donor in 2020, he donated $26,400 to a pro-DeSantis super PAC in June 2023. By May, Trump had his full backing. He co-hosted a fundraiser for Trump in Houston that month that, along with another event in Dallas, brought in $15. million for Trump, the campaign told Reuters.

Ike Perlmutter

Isaac "Ike" Perlmutter, the former chairman of Marvel Entertainment, has long been an informal advisor and friend to Trump, including on veterans' affairs.

The Mar-a-Lago member, who has a net worth of $4.3 billion, per Forbes, and his wife each gave $5 million to Right for America, a pro-Trump super PAC, in March, making them some of the former president's biggest backers so far this cycle.

Nelson Peltz — Perlmutter's fellow billionaire and partner in a failed Disney takeover — told the Financial Times he would also vote for Trump, despite apologizing for backing the candidate in 2020 following January 6.

Joe Ricketts

Joe Ricketts, the founder and former CEO of TD Ameritrade, is worth $4.1 billion, according to Forbes. He has given $824,600 to the Trump 47 Committee, and his wife, Marlene, gave $814,600. They are big-money donors, giving more than $20 million to GOP causes in 2020, Forbes reported.

In 2019, Ricketts — whose family owns the Chicago Cubs — was found to have sent racist and Islamophobic emails during the 2012 election, for which he later apologized.

"Christians and Jews can have a mutual respect for each other to create a civil society. As you know, Islam cannot do that," Ricketts wrote in one 2012 email. "Therefore we cannot ever let Islam become a large part of our society. Muslims are naturally my (our) enemy due to their deep antagonism and bias against non-Muslims."

Last year, one of Ricketts' sons — former Nebraska Gov. Pete Ricketts — was appointed to the US Senate after former Sen. Ben Sasse opted to retire. The younger Ricketts will likely be elected to the remainder of Sasse's term in November.

John Paulson

John Paulson, a hedge fund manager with a $3.5 billion net worth, per Forbes, has contributed $806,300 to the Trump 47 Committee.

He's long been an associate of the former president and has advised him on economic matters. Bloomberg recently reported that he could serve as Treasury Secretary under a second Trump administration.

In April, Paulson hosted Trump and his wife, Melania, for a fundraiser at his Palm Beach home. That event, attended by several other billionaires on this list, raised more than $50 million, according to the campaign.

Steve Wynn

Casino mogul and real estate developer Steve Wynn has given $806,300 to the Trump 47 Committee this year.

Wynn, a longtime GOP megadonor with a $3.4 billion net worth, according to Forbes, served as the vice-chairman of Trump's inaugural committee in 2017. In 2020, he donated at least $12 million to various Republican races and causes.

He has been accused of both sexual misconduct and of acting as a foreign agent on behalf of China, though a judge tossed out the latter charge.

Woody Johnson

Woody Johnson, an heir to the Johnson and Johnson pharmaceutical fortune and a co-owner of the New York Jets with his brother, has used his $3.2 billion fortune, per Forbes, to become one of Trump's biggest backers.

He's given $1 million to the Trump-aligned MAGA Inc. super PAC, and both he and his wife Suzanne recently contributed $806,300 apiece to the Trump 47 Committee.

Johnson served as the US Ambassador to the United Kingdom during Trump's presidency.

Geoffrey Palmer

Geoffrey Palmer, a Los Angeles-based real estate developer worth $3.1 billion, according to Forbes, has given $2 million to Trump's MAGA Inc. super PAC and $814,600 to the Trump 47 Committee.

Palmer has rallied his rich Los Angeles friends to donate to the former president, hosting multiple fundraisers, including one in September 2023.

Phil Ruffin

Phil Ruffin, a casino magnate worth $2.6 billion, per Forbes, has contributed $2 million to Trump's MAGA Inc. super PAC and $814,600 to the Trump 47 Committee.

Ruffin is a longtime associate and business partner of Trump's — he co-owns the Trump International Hotel in Las Vegas alongside the Trump Organization.

Ruffin also accompanied Trump to Moscow in 2013 for the Miss Universe Pageant.

That trip figured prominently in the largely unverified Steele Dossier, which alleged that the Russians may have blackmailed Trump by filming him being urinated on by Russian prostitutes.

Linda McMahon

Linda McMahon, who founded World Wrestling Entertainment with her husband Vince — whose net worth is $2.9 billion, according to Forbes — has given $10 million to the Trump-aligned MAGA Inc. super PAC, along with $814,600 to the Trump 47 Committee.

She gave millions to Trump in 2016 and more than $15 million to his 2020 reelection super PAC.

Her generosity served her well: Under Trump, McMahon was appointed head of the Small Business Administration from 2017 to 2019. She's also the chair of the board of the America First Policy Institute, a Trump-aligned think tank.

Kelly Loeffler and Jeff Sprecher

Former Sen. Kelly Loeffler and her husband, Jeff Sprecher, who was worth $1 billion in 2022, according to Forbes, have each contributed $824,600 to the Trump 47 Committee. In 2020, he wrote a $1 million check to Trump's super PAC.

Loeffler was appointed to the Senate by Georgia Gov. Brian Kemp at the end of 2019 after Sen. Johnny Isakson's death. She later lost in a runoff election in January 2021 to Democrat Raphael Warnock, who won a full term in 2022.

Sprecher, meanwhile, is the CEO of Intercontinental Exchange and previously served as the chairman of the New York Stock Exchange.

Robert and Rebekah Mercer

Robert Mercer, a former hedge fund CEO who, according to The New York Times, is a billionaire, has given $814,399 to the Trump 47 Committee.

Both Robert and his daughter Rebekah have been major contributors to pro-Trump and influential anti-establishment conservative causes, including funneling money to the right-wing Breitbart website and the conservative social media app Parler. In 2016, they helped connect Trump to his campaign team, and while they were not vocal supporters of the former president in 2020, they have reemerged as fundraising hosts in this cycle.

Robert Bigelow

Robert Bigelow, the hotel chain mogul who launched a spaceflight company in 2018, was originally a major DeSantis donor this cycle.

"I will give him more money and go without food," Bigelow told Time after pouring more than $20 million into the Florida governor's "Never Back Down" super PAC in March 2023.

The billionaire, per the Las Vegas Sun, has since pivoted, donating more than $10 million to Trump-aligned PACs since February 2024. He told Reuters in January that he would also contribute $1 million to pay Trump's mounting legal fees.

"I was just sympathetic. They didn't solicit anything from me," Bigelow told the outlet.

José "Pepe" Fanjul

José "Pepe" Fanjul, a sugar magnate, has given $814,600 to the Trump 47 Committee. A billionaire, according to NBC, he hosted a fundraiser for the former president the same day Trump's guilty verdict was announced.

While Fanjul has long been a GOP megadonor, his brother Alfonso has a history as a major Democratic megadonor.

• This post originally appeared in the Insider Today newsletter.
• You can sign up for Business Insider's daily newsletter here.

Happy Friday! Yes, there are awards for funny photos of people's pets. And yes, they are hilarious.

In today's big story, we're looking at the startups attempting to do the impossible: take on Nvidia.

What's on deck:

• Markets: Meet the best young equity researchers in the game.
• Tech: Check out the top people leading Microsoft's new AI group.
• Business: How lifestyle creep can sneak up on high earners.

But first, you come at the king, you best not miss.

If this was forwarded to you, sign up here.

The big story

The impossible fight

The house always wins in Las Vegas. But in Silicon Valley, it's Nvidia holding all the chips. Literally.

Nvidia's dominant position as the AI chipmaker is undeniable, but that hasn't stopped some optimistic entrepreneurs from taking a shot at the crown. Business Insider's Alistair Barr has a rundown of the AI chip startups looking to challenge Nvidia.

For many experts in the space, it's a fool's errand. Put more bluntly, a VC told Alistair that betting against Nvidia is "a very stupid investment." OK, but tell me how you really feel.

The pessimism for newcomers in the space isn't unwarranted, as they face plenty of headwinds.

The AI chipmaking process requires lots of money — some startups have raised well north of $100 million — and time. That's a tough equation when the competition you're chasing is growing market share and making money hand-over-fist while its CEO is treated like a rock star.

So why even bother?

A tiny fraction of a $3 trillion business — roughly Nvidia's market cap — is still a lot of money. So even if a startup can't go head-to-head with Nvidia, carving out a small portion of its market share isn't too shabby.

The biggest threat to Nvidia isn't startups, though.

When your stock looks like a vertical line, it gets people's attention. For Nvidia, that reportedly means regulators are taking a closer look.

The Justice Department is preparing to investigate Nvidia's dominance and whether it violates antitrust laws, according to a recent report from The New York Times. That could enable upstarts to gain some ground.

As much as Silicon Valley loves to denounce regulation, it has, in a roundabout way, led to some innovation. Take the DOJ's antitrust case against Microsoft in the late '90s, a turning point for tech companies like Google and Apple.

You'll be hard-pressed to find tech companies cheering on regulators, but they probably wouldn't mind Nvidia facing some competition. Some have already teamed up to break Nvidia's stranglehold on the market.

Even if these AI chip startups eventually fail, they could still do the industry good. A little competition can keep those in front from getting too stagnant…or greedy.

3 things in markets

1. They've got the research to back it up. BI identified 16 analysts ages 35 and under as part of its annual rising stars of equity research list. The group is known for providing reliable info and context to investors looking to suss out winners and losers in the market.
2. Roaring Kitty is coming to you live. The king of meme stocks is scheduled to livestream on his YouTube channel at noon ET today. The announcement sent GameStop's stock soaring more than 40%.
3. The real reason for copper's sky-high rally. It's not just supply and demand — the metal's massive bull run is likely due to expectations of interest-rate cuts, according to trading firm Trafigura. Prices swung to an all-time high last month, but the firm says copper's low inventory isn't new.

3 things in tech

1. A new "dark age" could be on the horizon. One legal expert told BI artificial intelligence could usher in a period of societal decline if the industry isn't regulated. Don't believe them? Look how the largely unregulated social media turned out.
2. Leaked org chart shows who's running Microsoft's new AI organization. We got a look at who's behind Mustafa Suleyman's new AI group. One interesting hire: Suleyman's ghostwriter.
3. Tesla shareholders criticize Musk's latest move. Musk recently admitted that he delayed a shipment of Nvidia chips for Tesla. Now, shareholders are telling BI that decision is further proof he doesn't deserve his roughly $46 billion pay package, up for a vote on June 13.

3 things in business

1. Six of Satya Nadella's best tips for running a company. This year marks a decade with Nadella at Microsoft's helm. He has said listening in meetings, being decisive, and having empathy can help build a successful company.
2. Lifestyle creep can cause HIFIs to spend "every cent they make." HIFIs — high-income, financially insecure people — tend to spend more than they earn, a financial planner says. She shared small spending changes that can boost HIFIs' future wealth.
3. Why teachers are excited about AI. Big Tech is looking to get into education, and while some are worried, many educators are actually optimistic. One major reason: it can help them maximize their time.

In other news

• The woman who says she's the real-life version of Martha on 'Baby Reindeer' just sued Netflix for $170 million.
• Goldman just released its annual report detailing pay equity, diversity goals, and more. Here are the most notable stats.
• He quit OpenAI, branding it reckless. He hopes outside pressure can now force change.
• Did Google fix its AI answers? Or did it just stop showing us AI answers?
• Europe's central bank cuts interest rates for first time in 5 years.
• Tesla can exist without Elon but the company needs him right now, board chair says.
• Hunter Biden may be doomed to lose his trial. His best bet is appealing a 'vindictive prosecution.'
• More young people are having strokes. A doctor shares 3 ways to help prevent them.
• Home prices are cooling nationwide. These 4 cities are leading the declines.
• Oracle engineer helps lead US to historic cricket win against Pakistan.

What's happening today

• The monthly employment report comes out today.
• Nvidia distribution date for its 10-for-1 stock split.
• Saudi Aramco is expected to announce the final pricing of its secondary public offering.

The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Jack Sommers, deputy editor, in London. George Glover, reporter, in London. Annie Smith, associate producer, in London.

• My family often told me that I would find my life-long friends during my first year at college.
• As a Yale freshman, I found that idea ridiculous, but I still felt pressure in my first year. 
• I'm worried I didn't make long-lasting friendships, but I am trying not to rush it.

When I started college at Yale a year ago, I had one worry: I might not meet my best friends for life the second I got to campus. It's an unrealistic expectation, but it sticks with you when you grow up hearing stories about how your parents or older siblings met their best friends during freshman orientation.

Thankfully, I found Yale students who laughed at this idea. While some people tried to find their lifelong friends immediately, most of the people I met at college joked about how ridiculous that expectation was.

Whether it's true or not, however, that pressure weighed heavily on me throughout my freshman year. I just don't think it's realistic.

Yale is a very social school, and I've found it easy to meet new people. I've been lucky to make many good friends, but sometimes, I still worry I haven't made as many deep friendships as I should have in my first year.

I felt pressure to make immediate, lifelong connections

While I and many people on campus relentlessly satirized and made fun of the concept, it was still omnipresent. It was hard to escape the appearance that other people have found their core group for life.

At Yale, little weekend excursions are common. I often heard that another group of first years went on a trip to New York City together; it rang in my southern ears as a big deal — even though it just takes a free Sunday, $34, and a few hours on the Metro North. Still, it felt like people were connecting in ways I wasn't.

It's also hard to ignore the role social media plays in creating the impression that everyone has more and better friendships. As a result, I found it difficult to fully shake the uncomfortable impression that I should've been making deeper connections faster.

But on the other hand, I also didn't want to force the connections in my first year. I told myself that deep friendships cannot be willed into existence. I learned this lesson early on. While I connected with the people I met before we even got to campus, the experience of trying to force those friendships always fell flat.

Good friendships take time to find and grow

I've probably met over 100 people I could see as potential lifelong friends. Between the people I've made in my residential college, improv group, moot court team, political union, and just wandering around campus, I've probably met my best friends already. But I can't be sure.

We have a long road ahead. A lot could happen, so I don't want to rush anything. Friendships take time to nurture and grow.

While I felt disappointed with myself because I haven't made many truly soul-to-soul deep connections with many people, I accept that takes serious time. Even for people I've been close with for years, our relationships took a long time to develop. Now should be no different, and I must remind myself of that.

I still haven't taken that friend group trip to New York yet, and that's fine. I'll get to it eventually.

• I started working when I was 13 and haven't stopped since. 
• I'm in my early 50s and been wanting to have more time to do things I love. 
• I started planning for retirement, and while it makes me a little nervous I'm excited. 

Julia put down her fork and blinked across the table at me, lids fluttering as rapidly as a hummingbird's wings. "You're what, now?" my closest friend asked.

"Retiring," I repeated around a mouthful of roasted beets. "End of this year, maybe the beginning of next."

She waved away the server refilling water glasses and pelted me with a series of questions. "How will you pay for things? Won't you be bored? What if the next administration tanks the economy? Why now, when you've had the most successful run of your career?"

The answers to her questions were: I've got it covered. Nope, never. That's a legitimate concern. And even though success has been rewarding, I want to live more now that I'm in my mid-50s, not spend whatever years I have left in front of a computer screen.

I started working when I was a teenager

Thanks to a "work till you drop" ethic instilled by second-generation Italian-American parents, I first joined the workforce as a babysitter at 13. By 15, I was cashiering 20 hours a week in a local supermarket.

Fast-forward through an advanced college degree and three decades of struggles, rejections, and career shifts in publishing, and I was back where I'd started: journalism, where I landed bylines in some of the world's top publications.

It felt easy — for a while. But three summers ago, as darkness fell and crickets began their chirping courtship, I was still answering emails. My cat head-bumped me, begging for attention. Annoyed, I glanced up at the clock: 9:17 p.m. The entire day had passed, and I had little recollection of it beyond lunch, a walk, and a deadline. I felt the world shrink around me.

I wanted more time to do the things I love

That fall, while out kayaking — a favorite activity that freelancing should give me regular opportunities to indulge in but rarely does — my husband, Floren, and I started talking seriously about retirement. In an industry ravaged by closures and layoffs, I was now toiling twice as hard on the unpaid work of pitching stories just to get the same number of assignments. The pay had dropped in journalism to the point that my side hustle, yoga instruction, had outpaced its hourly rate.

Floren and I kicked our planning into high gear. Inspired by a 2016 episode of Last Week Tonight with John Oliver on retirement planning, we'd already moved our retirement savings from mutual funds managed by financial advisors to index funds — and had comparable growth without forking over 2% a year in commissions and fees.

We took a deep dive into other helpful tools for saving, investing, and cutting corners on spending, like "The Simple Path to Wealth" by J. L. Collins, the Mr. Money Mustache blog, and the Choose Fi site and podcast. The latter yielded opportunities to connect and learn from, via Facebook groups, other people, some as young as 40, who have already achieved financial independence.

Knowing I will retire soon has made working more enjoyable

Knowing retirement is happening in a couple of months has made present career circumstances more bearable and has given me something to look forward to. I'll spend at least a few years working 10 to 15 hours a week, most likely a mix of yoga classes, writing, and book editing and coaching for independent authors.

I anticipate filling the rest of my time with home projects, plus sketching, wildlife watching, biking, and improving my Spanish. Some days I'll enjoy doing nothing at all.

While exciting, the thought of throwing in the job towel occasionally makes me nervous. What if the stock market nose-dives? What if Floren or I wind up with massive medical bills? If I don't achieve all of my career goals before exiting, will I feel unfulfilled?

There's no crystal-ball answer for the first three, but I know our financial planning is sound. I've also made peace with the fact that I might not reach every career goal I've set.

As a society, we talk a good game about working with purpose, traveling with purpose, and even exercising with purpose. For me, living with purpose is the ultimate expression of success.

• Russia is sending four warships to Havana, Cuba announced this week.
• A US official says it's part of efforts to show Putin's navy is still a global power, per Reuters.
• Russia's navy has suffered major losses to Ukraine in the Black Sea.

Russia sending warships to Cuba next week is an attempt to show its navy is still a global power after losses in the Black Sea, an unnamed US official told reporters, according to the Associated Press.

On Thursday, Cuba's Ministry of Foreign Affairs said Russia was deploying four warships to Cuba, including a nuclear-powered submarine, with the vessels expected to be in Havana between June 12 and 17.

The visit of the ships, none of which will carry nuclear missiles, does not represent a threat to the region, the Cuban statement read, but was instead part of the historically cordial relations between the two countries.

But according to the US official, the deployment is an effort by Russia's navy to flex its muscles on the world stage, after suffering losses in the Black Sea.

"This is about Russia showing that it's still capable of some level of global power projection," they said, per Reuters.

Russia's navy has suffered a series of embarrassing setbacks in the Black Sea, where Ukraine claims to have destroyed a third of its fleet.

Ukraine has used drones, missiles, and other weaponry to take out many Russian warships, and has forced its fleet to seek safer ports further away from Crimea.

In March, the UK's defense ministry declared Russia's Black Sea Fleet "functionally inactive" after Ukraine claimed to have struck another two of its vessels.

"Russia has sailed the Black Sea since 1783 but is now forced to constrain its fleet to port," UK Defence Minister Grant Shapps wrote. "And even there Putin's ships are sinking!"

This week, it was reported that Ukraine was using its exploding naval drones to go after smaller Russian vessels after Moscow pulled back its larger warships to reduce their vulnerability to attacks.

Russia also shuffled its naval leadership earlier this year.

According to the unnamed US official, while the US expects "heightened" Russian naval and air activity this summer, and more going forward, deployments like those to Cuba incur costs for the Russian navy, which is "struggling to maintain readiness and conduct deployments with an aged fleet."

Not everyone agreed on Russia's motive.

In a military assessment on Thursday, the Washington DC-based think tank the Institute for the Study of War said it was likely part of an effort to bring back memories of the Cuban Missile Crisis, and dissuade the US from offering further support to Ukraine.

The deployment also comes after Putin threatened to send long-range weapons to "regions around the world" that want to strike Western targets.

Meanwhile, Russia's Ministry of Defence said its goal was to keep a Russian naval presence in operationally important areas of the "far ocean zone," RBC-Russia reported.

• US job growth in May was way stronger than the forecast.
• Nonfarm payrolls increased by 272,000.
• The US unemployment rate is no longer below 4%.

Following data published Tuesday showing job openings cooled in April, data released on Friday showed how job growth and unemployment looked for the US in May.

A news release from the Bureau of Labor Statistics said nonfarm payroll employment rose by 272,000. The forecast per Investing.com was 182,000. April's increase was revised from 175,000 to 165,000. March's increase was revised from 315,000 to 310,000, as noted in the news release.

Plus, the US unemployment rate was 4.0% in May, greater than the expected rate of 3.9%. The previous rate was 3.9%.

The jobs report published on Friday comes before the next Federal Open Market Committee meeting. It's expected the target rate will be unchanged, as seen by the CME FedWatch Tool.

"Over the past year, as labor market tightness has eased and inflation has declined, the risks to achieving our employment and inflation goals have moved toward better balance," Fed Chair Jerome Powell said at a FOMC press conference in May. "The economic outlook is uncertain, however, and we remain highly attentive to inflation risks."

While US inflation has continued to be elevated, it's not as hot as it once was. The consistently low unemployment rate is one of several economic indicators that the US is avoiding a recession. Additionally, some recent data points to a soft landing.

"For many Americans, the difference between a soft landing and a more turbulent slowdown is their job," Nick Bunker, the economic research director for North America at the Indeed Hiring Lab, told Business Insider earlier this week.

This is a developing story. Please check back for updates.

• Gen Zers are bringing their parents to job interviews, a survey of 1,428 Zoomers found.
• Experts say this trend shows Gen Z values parental guidance, but it can hurt job prospects.
• However, having a parent in the interview may alleviate the stress and anxiety.

A small study suggests some Gen Zers are bringing their parents along to job interviews.

In a Resume Templates survey of 1,428 US Zoomers, 70% said they had asked their parents for help during their job search, and 26% said they had brought a parent to an interview.

Discussing the results on her radio show, the reporter Kim Komando said a candidate once showed up to an interview for a studio position with their mother.

"That is just a bad sign," she said.

For the Gen Zers who said they had a parent at an in-person interview, 37% said they had them come into the office, 26% said the parent physically sat in the room while the interview took place, and 18% said their parent introduced themselves to the hiring manager,

Seven percent said their parents even answered questions for them.

A growing trend?

The sample is small but builds on previous findings that some Zoomers are happier when their parents are there to support them in finding a job.

A survey of 800 managers, directors, and executives commissioned by the student-life publication Intelligent last year also found that one in five employers said a candidate showed up to their interview with a parent.

Some employers, 39%, said they avoided hiring recent graduates in favor of older candidates. When asked about interview behavior, 50% said they'd had young candidates ask for too much compensation, and 47% said they'd dressed inappropriately.

These polls have limitations. Managers saying they have encountered candidates doing something doesn't mean it's becoming the norm. (Business Insider could not find any Gen Zers on social media who said they'd brought their parents to interviews.)

It's also cyclical that younger generations are criticized for their every move. In 2013, The Wall Street Journal reported that 3% of millennials were dragging their parents into interview rooms.

But there also could be some truth in it. Erin McGoff, a content creator who gives career and life advice, said she had asked around and had been surprised to find evidence of parents attending interviews and trying to set them up for their adult children.

Guidance and insights

While bringing parents along to an interview may set off alarm bells, it may not be as bad as it sounds.

It provides a much-needed confidence boost for young people and may be the difference between them performing well or badly.

James Uffindell, the CEO of the graduate jobseeking platform Bright Network, told Business Insider the early job market can be "daunting."

Bright Network research shows that only 54% of young professionals feel confident about securing a job straight out of college, citing concerns about their lack of experience, he said.

The shift shows that Gen Z as a generation "values the guidance and experience that parents can undoubtedly provide," Uffindell said.

David Rice, an HR expert at the media company People Managing People, told BI Gen Zers are at an age where they have been used to living with their parents for most of their lives.

"So they naturally might seek their parents' advice and guidance when making important decisions, like choosing a job," he said.

Having a parent in the interview may alleviate the stress and anxiety associated with being interviewed, Rice said.

"Gen Zers might feel like having a parent present can help them to be more relaxed," he said. "It might reveal a lot about their natural communication skills and decision-making processes."

Obvious downsides

Anecdotally, some parents are confused about why their children are asking them to come to their job interviews.

"During school, she was very confident; she never needed me to hold her hand," one mom wrote to News.com.au's advice column Kidspot. "I don't think of myself as a helicopter parent, so I'm at a loss as to why she would ask this."

In response, the columnist Jordana Shell told her that Zoomers "need to learn and build resilience."

"As parents, we have to know when to let them swim alone, and when to throw in the life vest," she said.

While there are some benefits, there are also obvious downsides to parents coming along to interviews with their children. For instance, parents in the room will be tempted to interfere and influence their child's responses.

Jennie Bayliss, the founder of the recruitment company Office Wings, told BI that the way companies recruit their staff has changed over the years, particularly due to the introduction of online interviews.

"As hirers, we can't always be sure who is in the room," she said. "But when it comes to face-to-face, we look to create an environment that brings out the best in the candidate so that they don't feel the need to bring anything more than some notes with them."

Bayliss said she wants to see a real person in an interview to judge whether they will fit in well with the rest of the team.

"Having a parent next to them is unlikely to bring that side out," she said. "And as a parent it would be hard not to input and try to embellish my child's answers, which for a hirer would be rather annoying."

Having any other person present can skew the evaluation, Rice said.

"I can't imagine many employers would be comfortable with Gen Zers bringing a parent along to a job interview unless there is a clear reason for it which is outlined ahead of the interview taking place," he said.

"Yes, there is nothing wrong with turning to your parents for advice," Rice added. "But they aren't going to be there every day you show up to work either."

Claire Brawn, the people director of the virtual training platform Attensi, told BI it would be "absolutely unthinkable" for a candidate to bring their parent to the actual interview.

"No potential employer could possibly ignore that elephant in the room," she said, recommending young jobseekers try role-play scenarios instead to build their confidence.

Victoria McLean, the CEO of City CV and Hanover Talent Solutions, which coaches graduates in finding a job, told BI that moral support is important and practicing with parents is a great way to prepare, but she would "draw the line at bringing them to interview."

Mom and Dad being there to hold your hand "speaks volumes," she said.

• Red Lobster has announced which restaurants it wants to close after filing for bankruptcy.
• It's already closed dozens of restaurants throughout the US.
• The additional restaurants include many in Florida and Texas.

Red Lobster has released a list of all the restaurants it wants to close after it filed for bankruptcy.

The beleaguered seafood chain voluntarily filed for Chapter 11 bankruptcy on May 19. The 56-year-old chain had been struggling for years with high levels of leadership turnover, expensive leases, and the effects of private equity involvement.

In filings, Red Lobster said it operated about 570 restaurants and attached lists of 120 it wanted to reject the leases of.

It said that these leases were "likely to continue to drive losses" for the company.

"The Debtors' meticulous, well-considered lease rejection plan is centered on value maximization," it said. "In order to manage their business and assets responsibly and economically, the Debtors seek to reject unexpired leases of nonresidential property, which are a burden on the Debtors and their estates."

Of the restaurants included in the list, 24 are in Florida, where Red Lobster is based, 15 are in Texas, and nine are in California. Its flagship Times Square location in Manhattan is also on the list.

This is in addition to the dozens of locations that closed in May. Some of the restaurants included in the list of 120 additional restaurants have already closed.

Alabama

2620 McFarland Blvd E, Tuscaloosa

Arizona

1521 S Yuma Palms Parkway, Yuma

2810 North 75th Ave, Phoenix

5061 North Oracle Road, Tucson

7921 West Bell Rd, Peoria

2500 S Beulah Blvd, Flagstaff

Arkansas

7401 Rogers Ave, Fort Smith

8407 W Markham Street, Little Rock

3885 N Shiloh Drive, Fayetteville

4500 Central Avenue, Hot Springs

California

1180 Admiral Callaghan Lane, Vallejo

1720 N Main Street, Salinas

195 E Hospitality Lane, San Bernardino

2283 W March Lane, Stockton

4095 Century Blvd, Pittsburg

503 E Calaveras Blvd, Milpitas

928 W Huntington Ave, Monrovia

6231 Sunrise Blvd, Citrus Heights

2040 Aborn Road, San Jose

Colorado

2885 23rd Ave, Greeley

4925 N Academy Blvd, Colorado Springs

3301 S College Ave, Fort Collins

3306 N Elizabeth Street, Pueblo

Connecticut

320 Universal Drive North, North Haven

Delaware

309 Rocky Run Parkway, Talleyville

Florida

2000 University Dr, Coral Springs

13300 Biscayne Blvd, North Miami

11550 SW 88th St, Miami

32 Blanding Blvd, Orange Park

11601 N Dale Mabry, Tampa

26320 US 19th North, Clearwater

2355 W New Haven Ave, Melbourne

2328 Commercial Way, Spring Hill

215 E Merritt Island Causeway, Merritt Island

2201 Palm Beach Lakes Blvd, West Palm Beach

326 Miracle Strip Pkwy SW, Fort Walton Beach

3706 North Road 98, Lakeland

3801 Cleveland Ave, Fort Myers

5690 Irlo Bronson Memorial Hwy, Kissimmee

6638 Lake Worth Road, Lake Worth

8909 US Highway 19, Port Richey

5936 International Drive, Orlando

5950 N Federal Hwy, Fort Lauderdale

617 N Alafaya Trail, Orlando

6151 34th Street North, Saint Petersburg

5110 N 9th Ave, Pensacola

9892 International Drive, Orlando

2475 Highway 27 South, Clermont

3830 Wedgewood Lane, The Villages

Georgia

6550 Tara Blvd, Jonesboro

2679 Adams Farm Dr, Columbus

700 Shorter Ave NW, Rome

2579 Cobb Parkway, Smyrna

Illinois

1604 N State Road Route 50, Bourbonnais

1901 N. Prospect Ave, Champaign

Indiana

5400 National Road East, Richmond

4353 Franklin Street, Michigan City

1900 S US 31 By-Pass, Kokomo

Iowa

1100 Buckeye Ave, Ames

Kansas

1915 S Wanamaker Road, Topeka

9475 Metcalf Avenue, Overland Park

Kentucky

5151 Hinkleville Road, Paducah

4639 Outer Loop, Louisville

Maryland

2314 N Salisbury Blvd, Salisbury

Michigan

3920 28th Street. SE, Kentwood

4109 Wilder Road, Bay City

479 Telegraph Road, Waterford

Minnesota

1951 American Blvd West, Bloomington

8900 Golden Valley Road, Golden Valley

Mississippi

895 Barnes Crossing Road, Tupelo

Missouri

4328 Noland Rd, Independence

3131 Range Line Rd, Joplin

12235 Saint Charles Rock Rd, Bridgeton

2381 Maplewood Commons Drive, Maplewood

New Jersey

211 Route 17 S, Paramus

4411 Black Horse Pike, Mays Landing

3003 Route 130 South, Delran

New York

750 Upper Glen Street, Queensbury

2090 Bartow Avenue, Bronx

5 Times Square, Manhattan

801 Sunrise Highway, Copiague

North Carolina

304 A Western Blvd, Jacksonville

Ohio

6500 Miller Lane, Dayton

4990 Monroe St, Toledo

2340 Tiffin Avenue, Findlay

7607 Day Drive, Parma

255 Graff Road, SE, New Philadelphia

1422 Reynolds Road, Maumee

17227 Southpark Center, Strongsville

Pennsylvania

935 Wayne Ave, Chambersburg

425 W. DeKalb Pike, King Of Prussia

4766 McKnight Road, Pittsburgh

South Carolina

1270 Knox Abbott Drive, Cayce

Tennessee

2131 Northgate Mall Dr, Chattanooga

Texas

17415 US 281 North, San Antonio

18446 Interstate 45 South, Shenandoah

3056 Preston Road, Frisco

3002 Saint Michael Drive, Texarkana

3815 S. Lamar Blvd, Austin

4401 Kemp Blvd, Wichita Falls

5034 50th Street, Lubbock

5815 N Loop 1604 West, San Antonio

5825 South Padre Island Drive, Corpus Christi

603 N Cockrell Hill Road, Duncanville

7800 Bedford-Euless Road, North Richland Hills

100 I 35 North, San Marcos

109 W Anderson Lane, Austin

1381 SW Loop 410, San Antonio

2760 S Highway 6, Houston

Virginia

555 S. Van Dorn Street, Alexandria

10325 Fairfax Blvd, Fairfax

8009 West Broad Street, Richmond

709 Independence Blvd, Virginia Beach

3109 Spotsylvania Mall Drive, Fredericksburg

4115 Chesapeake Square Blvd, Chesapeake

4415 S. Laburnum Ave, Richmond

821 Lynnhaven Pkwy, Virginia Beach

Washington

4231 196th SW, Lynnwood

West Virginia

3705 Murdock Avenue, Parkersburg

Wyoming

5010 East 2nd Street, Casper

• My family and I went on an open-ended trip to Europe, and we ended up buying a house here. 
• We love living in Portugal — life is relaxed and our son gets lots of time outdoors.
• Although we will always have ties to the United States, we love living in Europe. 

In January 2019, my father died. For months, I was in a fog and, in an effort to lift our spirits, I asked my husband how he felt about an open-ended trip to Europe.

It was the perfect escape since our son is homeschooled, and we have flexible work schedules as writers and composers.

He was all in, so we took a one-way flight to Italy and explored the United Kingdom and Europe for six months while we worked and schooled in between.

We didn't end up returning to the US.

We fell in love with Europe and ended up buying a house in Portugal

During our trip, we spent a long time in the Netherlands, where we learned more about the culture. We were especially impressed with how independent the children were.

We witnessed kids as young as 4 years old bike themselves to school past our rental house almost daily. It was far from the reality in the US, and this stop on our trip is where we began learning just how great Europe could be.

We planned to return to the US in early 2020, but then the coronavirus pandemic hit worldwide. We felt scared and confused, and going home seemed less of an option as some borders closed.

So, we extended our stay in Europe and then headed to Portugal, a place we were already familiar with.

We began renting a charming Airbnb in the Portuguese countryside and extended our trip so many times that the owners asked if we wanted to buy the house.

Affordable home prices in rural Portugal coupled with extremely low interest rates for mortgages allowed us to say yes.

Life began to feel calm and somewhat secure.

While my friends posted on social media about fighting in the supermarkets to buy toilet paper in the US, we were feeling OK. Our community was incredibly kind, and neighbors brought us food from their farms.

This temporary situation eventually became our new reality. We started to realize living in Europe may actually be a good idea for our family.

It's been 3 years since our 'accidental move,' and we have no regrets

We began referring to this journey as our "accidental move." We'd left for vacation with three suitcases, and suddenly, we were building an unexpected life in our new home in a new country.

In the US, life felt fast-paced and hurried, but moments feel savored here. Although it was initially challenging to adapt to, I now embrace the rhythm and want it for my son.

Witnessing many advantages — the ease of homeownership, exceptional healthcare, a safe environment, and a warm embrace by the community — solidified our decision to stay.

Here, our son thrives with ample outdoor time, easy access to healthy food, guaranteed medical care, and the constant opportunity to explore new cultures.

Though the US will always technically be home, and we'll always be connected to it through our chosen academic structure, our jobs, mandatory taxes, and our house there, we've certainly found Europe to be our sanctuary where we feel most peaceful.