Reporters caught Donald Trump dozing off during the first two days of his criminal hush-money trial. Attorneys struggled to seat 12 impartial jurors.
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Reporters caught Donald Trump dozing off during the first two days of his criminal hush-money trial. Attorneys struggled to seat 12 impartial jurors.
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Ed Miller/Netflix
Since Netflix began its worldwide expansion in 2016, the streaming service has rewritten the playbook for global entertainment — from TV to film, and, more recently, video games.
Hollywood used to export most global hit series and movies. Now, thanks to Netflix's investments in international TV and film, programs like South Korea's "Squid Game" and France's "Lupin" have found massive audiences around the world. And Netflix's English-language originals, such as Shonda Rhimes' "Bridgerton," Ryan Murphy's "Dahmer," and Tim Burton's "Wednesday," have broken the streamer's internal streaming viewership records.
Netflix has been riding high after the 2023 writers' and actors' strikes shut down Hollywood production and other streamers retrenched to stem losses. After a dip in 2022, its stock soared in 2023 and it's making headway with its crackdown on password sharing and its ad-supported subscription tier. Cash-hungry rivals have returned to licensing their shows back to Netflix, which could help make the streamer even more dominant.
Netflix's impact on the global TV industry remains undeniable, even as it now faces fresh questions about its audience growth potential, ability to compete for ad dollars, and opportunity to capture younger viewers.
To thrive on an international stage, Netflix sought both US mass-market programming like "Stranger Things" as well as local content that could win over viewers in specific markets (and produce breakout hits).
The strategy helped the streaming service grow its customer base to more than 260 million global subscribers. Its momentum also reinvigorated production in places like Germany, Mexico, and India.
More recently, it along with other streamers has sought broadcast network-type shows that will grab broad viewership, plus fewer, lower-budget movies under new film chief Dan Lin. It's also dipped into live programming like sports and comedy.
More on Netflix's changing content direction:
After breaking all of Hollywood's rules and disrupting everything about the entertainment industry, Netflix — since its first-ever subscriber loss — has been breaking its own rules, reversing its stances on password sharing and advertising.
It also shook up its leadership in 2023, elevating Greg Peters to co-CEO, reflecting its shift to new revenue streams, alongside Ted Sarandos as cofounder Reed Hastings moved to executive chair.
Meanwhile, TV head Bela Bajaria was named chief content officer, with film reporting to her.
An elite team of interdisciplinary execs helps make Netflix's biggest decisions. Known internally as the "Lstaff" — the "L" stands for leadership — the 22-member group sits between the company's officers and its larger executive corps of vice presidents and above, who are called the "Estaff."
More on Netflix's corporate structure:
Netflix's restructuring hasn't been without obstacles. It's laid off hundreds of staffers over the past couple of years as the broader media and entertainment space grapples with a bear market.
Still, the company's growth has generally made it a desirable place to work in recent years, despite some tests its corporate culture has faced. While hiring has slowed, it's still adding employees to maintain its lead over other paid streamers and fuel its global expansion.
More on Netflix's business model and company culture:
Netflix faces more competition from TV viewers than ever from traditional media companies like Disney and Warner Bros. Discovery and tech players Apple, Amazon, and YouTube, most of which are further along in selling ads and offering live sports programming.
The competition is pushing the streaming giant to continue evolving. Netflix introduced a cheaper, ad-supported tier to combat slowing subscriber growth. It's also building video games and selling merchandise and experiences tied to series like "Squid Game" and "Bridgerton."
Some creators worried that Netflix would take fewer risks on programming to please advertisers, while the service has been slow to meet the scale demanded by advertisers.
As it did with movies and TV shows, Netflix is ramping up advertising and games slowly. It's commissioning and licensing mobile games, some of which are based on existing franchises like "Stranger Things" and acquired companies to kickstart the business.
More on Netflix's advertising and gaming ambitions:
Elaine Low contributed to an earlier version of this post.
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As Trump Media & Technology's stock has tumbled, so has Donald Trump's wealth.
At its height in late March just after going public, the Truth Social company had a market capitalization of $8.97 billion.
That meant the former president, who owns a roughly 57% stake in the media startup, had shares worth a whopping $5.11 billion.
But since then, the stock has been in a free fall. On Tuesday, Trump Media closed with a market capitalization of about $3.12 billion — a 65% drop from its peak.
In other words, Trump's value has dropped more than $3.33 billion in about three weeks.
Shares of Trump Media, the parent company of Truth Social, plummeted Monday after a filing showed it was moving to allow company insiders — including Trump — to sell their shares early.
Shares have been on a six-month lock-up period, preventing the former President from cashing out right away.
Shares declined even more on Tuesday after the company announced it would launch a streaming platform.
Trump Media initially arrived on the market to great fanfare, landing him on a list of the world's wealthiest people and fueling speculation from power users and meme-stock buyers.
But the Trump bump was short-lived.
Many saw a bust coming, and a damning filing revealed the company lost $58 million last year against $4.1 million in revenue.
Still, the stock has been a windfall for Trump, even if it's worth much less now. Any boost could be helpful for the presumptive GOP nominee in 2024. Trump has mounting legal bills from his various criminal cases to pay, as well as judgments in two civil cases.
Trump's first criminal trial — on charges of hiding hush-money payments to porn star Stormy Daniels — kicked off Monday with the start of jury selection. Trump will need to stay in court for the coming weeks.
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BRENDAN SMIALOWSKI/Getty Images
Billionaire Mark Cuban disclosed the hefty chunk of change he paid in 2023 taxes this year, publishing the nine-figure number in a post on X this week while simultaneously taking a shot at former President Donald Trump.
"I pay what I owe. Tomorrow I will wire transfer to the IRS $288,000,000.00," Cuban wrote on the social media site on Sunday before amending the actual figure to $275,900,000 in a follow-up post.
"This country has done so much for me, I'm proud to pay my taxes every single year. Tag a former president that you know doesn't," Cuban added, in a seeming dig at Trump, who declined to share his tax returns while running for office and during his four-year term, breaking with recent tradition.
President Joe Biden and First Lady Jill Biden shared their tax returns on Monday, revealing they earned nearly $620,000 in 2023.
The average federal income tax payment among the more than 164 million Americans who filed returns in 2020 was $16,615, Business Insider reported last year — much less than the $275.9 million in taxes Cuban just paid. Though, his net worth is much, much higher.
Here's how the US Government could put Cuban's millions to use. And yes, we know Cuban's tax bill won't go directly to paying for these programs, but for the sake of context, here's what his taxes could have funded.
The National Transportation Safety Board, which is an independent US government agency that oversees civil transportation accident investigations, secured $145 million in funding for Fiscal Year 2024 in the president's budget, the agency announced in a March 2023 press release. That figure represents a $15.7 million increase from the previous budget year.
An explanatory statement on the Transportation Department's funding in the 2024 Appropriations Act said the agency ultimately got $140,000,000 for salaries and expenses in the final bill.
Earlier this year, the agency requested $150 million for FY 2025 to fund its 455-full time equivalent employees.
Cuban's $275.9 million contribution to the US government could fully back the department with nearly half still left over.
Representatives and senators, on average, make $174,000 each year. Multiply that figure by all 535 members of Congress, and you get $93 million.
Cuban's million could easily cover congressional paychecks and even account for President Joe Biden's $400,000 salary and Vice President Kamala Harris' $235,100 salary.
The Department of Defense has requested a whopping $850 billion budget for the 2025 Fiscal Year. It's too soon to say whether the spending bill will pass, but the department managed to score $841.4 billion in Fiscal Year 2024.
If you divide $850 billion by 365 days in the year, you get a $2,328,767,123.29 department cost per day. Divide that number by 24 hours, and you get $97,031,963.47 per hour.
So, Cuban's $275.9 million wouldn't quite be able to cover the potential three-hour DOD cost at $291,095,890.41. But his tax payment could fund the US war machine for a little over two hours.
The US government's debt load is increasing by almost $1 trillion nearly every 100 days, CNBC reported earlier this year.
The current national debt sits at $34 trillion as of April 2023. While $275.9 million might not seem like it would make a dent in that astronomical number, every little bit helps! Right?
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US NAVY/Reuters
Three mariners stranded on an island in the Pacific Ocean were rescued earlier this month after they made a large "HELP" signal by laying out palm leaves on the beach — a scene right out of a movie.
The men, all in their 40s, left Polowat Atoll, a tiny coral island that's part of the Federated States of Micronesia, on March 31, traveling in a small, 20-foot skiff. Nearly a week later on April 6, a relative reported them missing.
On April 9, US military forces rescued the group from Pikelot Atoll, another tiny island in Micronesia about 1,000 miles north of Papa New Guinea and around 100 nautical miles from where the men set out.
"In a remarkable testament to their will to be found, the mariners spelled out 'HELP' on the beach using palm leaves, a crucial factor in their discovery. This act of ingenuity was pivotal in guiding rescue efforts directly to their location" Lt. Chelsea Garcia, the search and rescue mission coordinator at the time the men were found, said in a statement from the Coast Guard.
A US Navy P-8 Poseidon aircraft discovered the mariners. They dropped survival packages, while the Coast Guard Cutter Oliver Henry was rerouted to Pikelot to rescue the men, whose boat had been damaged.
A survival expert told Business Insider the men were smart to create a signal, but that there may be even more effective ways of doing so to indicate to others you're in distress.
Cat Bigney, a survival consultant and instructor at the Boulder Outdoor Survival School, said that often the best way to get spotted by a rescue team is to start a fire, as a big smoke stack can be spotted from miles away.
And not just one fire, but ideally three. Three of anything is considered the universal signal of distress: three fires, three blows in a whistle, three gunshots. Think of the original SOS call, the morse code distress signal which consists of three dots, three dashes, and three dots.
Bigney said it's most effective to build the three fires in a row, as the succession of smoke fumes will signal to anyone who can see them that you need help.
"You want to use anything that's going to cause a lot of smoke" to build the fire, she said, such as green vegetation or damp wood —which produce more smoke because it burns at a lower temperature and results in incomplete combustion.
Depending on the circumstances, it may be best to wait to light the fires until a plane or boat is visible to ensure you are ready when a rescue team is nearby, and so they do not miss you.
Beyond fires, Bigney said it's ideal to create signals with contrast. So in the case of the men stranded on Pikelot Atoll, palm leaves against bright white sand may've created enough contrast to be seen easily from afar.
It's also generally recommended to spell out SOS, rather than a message like "HELP," in part because the letters in SOS can also be read upside down.
"Now what they did, worked," Bigney said of the rescued men. "So I think the take-home message is be creative and do something."
The Coast Guard said the men had access to food and water while stranded with their damaged boat. Bigney said it was not necessarily the most dire survival situation but that other factors, like incessant sand fleas or nearby predators, could make it hard for some people to think clearly.
"They did a good job. They thought to signal for help," she said, adding, "Oftentimes it is just a psychological game, in any situation."
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NHRA
Lynsi Snyder became one of the youngest billionaires in the US when she inherited complete control of iconic Southern California burger chain In-N-Out in 2017.
Snyder is the only granddaughter and heir of Harry and Esther Snyder, who founded the first tiny burger stand Baldwin Park, California, in 1948. At age 23, she became the primary beneficiary of the burger dynasty; her rise to the top of the chain at such a young age was largely the result of the deaths of her family members and internal legal drama at the company.
Since becoming president of In-N-Out in 2010, she has expanded the chain to Texas, Oregon, Idaho, and Colorado. The chain is also planning stores in Tennessee.
Snyder, who recently penned a book about the chain's history, has a $6.7 billion net worth. Here's what we know about her life and empire.
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GMC
The latest electric pickup on the market may go a lot farther than Tesla's Cybertruck — literally.
GMC announced the final specs for its new Sierra EV Denali Edition 1, including a range of about 440 miles — a 10% increase from the initial 400-mile estimate.
That's also 100 miles more than the Cybertruck, its most high-profile competitor, which has an advertised range of 340 miles for its beefiest version.
It would also beat out many other electric pickups on the market, including the Rivian R1T, the Ford Lightning, and GMC's own Hummer EV, which all cap out at under 330 miles. The only true competition would be the 2024 Chevrolet Silverado EV, which has a maximum range of 450 miles.
The Cybertruck's range has been the subject of controversy, as some buyers were dismayed that it wouldn't have the 500-mile range that Elon Musk originally promised. What's more, a few customers claimed that its actual battery life is significantly shorter than the 340 miles officially advertised.
Tesla did not respond to a request for comment before publication.
The Denali Edition 1, the premium grade of the Sierra EV, will also feature increases in max payload and towing power from GMC's initial estimates.
Even with the impressive new range, it's not clear how strong demand will be for the new Denali, given a slowdown in demand for costly EVs (and especially for electric pickups). Automakers have responded by slowing EV production (including GM, which said last year it would delay some of its electric pickups).
Denali Edition 1 deliveries are expected to begin this summer, starting at $99,495, GMC said, followed by other trim levels like the Sierra EV Elevation and the Sierra EV AT4.
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Reuters/Elizabeth Frantz
In February, Sen. John Fetterman had a strong message for President Joe Biden's critics on the left.
"If you're not willing to just support the president now, and say these kinds of things, you might as well just get your MAGA hat because you now are helping Trump with this," the Pennsylvania Democrat said on MSNBC's "Morning Joe" at the time.
In an interview with Business Insider at the Capitol on Tuesday, he indicated that he was specifically referring to the Uncommitted movement, which has driven voters in several states to cast "uncommitted" ballots in protest of Biden's support for Israel's war in Gaza.
Some of those voters continue to withhold their support for Biden until he changes course.
"What is damaging is if you're talking about 'abandon Biden' or 'I'm uncommitted for voting,'" Fetterman said on Tuesday. "Then, you know, you're wearing a MAGA hat."
Since Fetterman first made his "MAGA hat" comments in February, he has criticized the Biden administration multiple times on Israel, suggesting that the president is "pandering to the fringe" as he's sought to implement a temporary cease-fire in Gaza and discourage Israel from retaliating against a recent Iranian missile and drone attack.
On Tuesday, Fetterman insisted he wasn't being critical — just disagreeing. And he argued that doing so wasn't damaging to Biden in the same way that he says the president's left-wing critics are.
"No, I haven't been critical. That's not critical. It's just I disagree on certain aspects of it. That's reasonable," said Fetterman. "[I'm] 10,000% all about Biden, I love that guy, I'm proud to call him my president. It's really just very different than the fringe that's talking about uncommitted, or to abandon Biden, or anything like that."
But Fetterman's contention that he hasn't criticized Biden doesn't hold water.
The Pennsylvania senator said it was "appalling" that the Biden administration allowed a resolution demanding an immediate cease-fire in Gaza to pass at the UN Security Council. He has repeatedly criticized the administration for discouraging Israel from invading Rafah, which the US fears could lead to even more civilian deaths. He has also forcefully argued against conditions on Israel aid as Biden suggested they may be on the table.
In this war against Hamas—no conditions for Israel. pic.twitter.com/qCrqHT4pge
— Senator John Fetterman (@SenFettermanPA) April 4, 2024
And on CNN on Sunday, Fetterman said he did not agree with Biden telling Israeli Prime Minister Benjamin Netanyahu that the US would not participate in any offensive against Iran.
"I think we should follow and have Israel's back in this situation. I don't agree with the president," said Fetterman, before adding that he believes Biden is "fantastic."
Democratic Sen. @JohnFetterman tells CNN’s @JakeTapper that President Biden shouldn’t “capitulate to the fringe” in his party when it comes to Israel. pic.twitter.com/pjDqi0sBPJ
— State of the Union (@CNNSOTU) April 14, 2024
Since the October 7 Hamas attacks, Fetterman has emerged as a staunchly pro-Israel voice, alienating many of his old progressive allies in the process.
At times, the Pennsylvania senator has found himself to the right of most Democrats on the issue. He was one of just two Democrats — the other being Sen. Joe Manchin of West Virginia — who refused to cosponsor in December a resolution supporting a two-state solution in Israel.
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Justin Lane-Pool/Getty Images)
The judge presiding over Donald Trump's criminal hush-money trial angrily chastised the former president on Tuesday afternoon, telling his lawyer to keep him quiet during the jury selection and warning against intimidating potential jurors.
"He was gesturing and muttering something. He was audible. He was speaking in the direction of the juror. I will not tolerate that," New York Supreme Court Justice Juan Merchan told Trump's lawyer, Todd Blanche, raising his voice.
"I will not have any jurors intimidated in this courtroom. I want to make that crystal clear," the judge added.
The warning came Tuesday afternoon, shortly after the questioning of a prospective juror over what Blanche called her "hostile" social media posts.
Blanche suggested that the prospective juror had earlier Tuesday portrayed herself as able to be impartial. The defense pointed out videos posted to Facebook in which she referred to celebrations in the streets of New York City following now-President Joe Biden's 2020 electoral victory.
Merchan complained that the juror was "maybe 12 feet" from the defense table when Trump became "audible."
Merchan instructed Blanche to speak with Trump, sitting next to him, about "his behavior."
"My client is aware," Blanche told the judge after whispering into Trump's ear briefly.
This isn't the first time Trump's gabbing has interrupted his courtroom proceedings. In E. Jean Carroll's second trial against him, over defamation damages, the judge in that case warned against Trump heckling Carroll while she was on the witness stand.
"I'm going to ask Mr. Trump to take special care to keep his voice down in conferring with his attorneys," US District Judge Lewis Kaplan said during the January trial.
Jurors handed Trump a loss in that case, ordering him to pay Carroll more than $80 million in damages.
Merchan has been keenly aware of the courtroom dynamics while interviewing prospective jurors, a process that is expected to last about two weeks.
The 12 jurors and six alternates will have to hear about four weeks of testimony over allegations that Trump falsified business documents to cover up hush-money payments to Stormy Daniels ahead of the 2016 presidential election.
On Monday, the first day of jury selection, Merchan said he would change the proceedings so that prospective jurors would be in the main courtroom while answering questions, rather than being squeezed into his much-smaller robing room with lawyers and Trump himself.
"I am concerned that going into the jury room with an individual juror surrounded by all of these people is just going to be overly intimidating to that juror," he said Monday.
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US Central Command/Screengrab via X
The US Navy has fired nearly $1 billion in missiles to counter threats from Iran and its proxy forces over the past six months, the sea service's top civilian official revealed on Tuesday.
The disclosure underscores the depth — and the growing financial cost — of US naval involvement in the Middle East.
Since October, American warships and aircraft operating in the Red Sea have shot down scores of Houthi missiles and drones, and carried out preemptive strikes against the militants directly in Yemen.
More recently, over the weekend, American warships operating in the eastern Mediterranean Sea intercepted multiple Iranian ballistic missiles during Tehran's unprecedented attack on Israel.
"We have actually countered over 130 direct attacks on US Navy ships and merchant ships," Secretary of the Navy Carlos Del Toro said at a Senate Appropriations Subcommittee on Defense budget hearing for the upcoming fiscal year.
US Navy photo by Mass Communication Specialist 2nd Class Aaron Lau
Del Toro told lawmakers that "the munitions that are critical to these counterstrikes are extremely important" to the Navy and said the service is nearing $1 billion worth of munitions that need to be replenished. It was not immediately clear if the presented figure included the weekend interceptions.
The various munitions that the Navy has used to intercept threats in the air and also conduct preemptive strikes on the Iran-backed Houthis in Yemen are not cheap, and because these engagements have occurred regularly over the past six months, the costs add up. A Standard Missile-2 interceptor, for instance, is estimated to cost around $2 million.
The massive national security supplemental package which has been at the center of months of concerns over the future of US military aid to Ukraine includes $2.4 billion in funding to address the Navy's fight in the Red Sea, including the depletion of munitions.
The big supplemental package has already been passed by the Senate but it continues to be blocked by House Republicans, despite significant pressure from the Biden administration — and even from US partners overseas, including Ukraine — to push it through.
US Navy photo by Mass Communication Specialist 3rd Class Kaitlin Watt
Del Toro said "it's critical for Congress to pass the supplemental this week so that we can actually get the additional resources to be able to supplement those munitions that will be critical moving forward."
Navy warships and fighter jets have been tasked for months with defending key international shipping routes off the coast of Yemen, in the Red Sea and Gulf of Aden, from relentless Houthi attacks. Beyond intercepting missiles and drones in the air, American forces have often hammered the militant forces in Yemen before they're able to get their weapons in the air.
The Pentagon's Red Sea operations, however, have raised questions about sustainability, as the Houthis show no sign of letting up their attacks. Even over the weekend, amid Iran's attack on Israel, US forces continued to engage the militants.
Iran's attack, meanwhile, raises new concerns about sustainability, as US forces — including the Navy — were tasked with defeating dozens of threats in the air. The massive aerial barrage has prompted Israel to promise its own retaliation, sparking fears that the Middle East could spiral into even more violence.
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