Category: Business

• 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.

• A pilot school in Phoenix has stopped cadets from Cathay Pacific flying solo, per Bloomberg.
• It said planes were damaged in incidents that weren't properly reported.
• Cathay, one of the world's top airlines, is trying to increase pilot numbers after dropping during Covid.

An Arizona pilot school has stopped Cathay Pacific trainees from solo flights after several incidents that went unreported, Bloomberg first reported.

Cathay Pacific, the Hong Kong flag carrier, is one of the world's best airlines — one of just 10 globally to be ranked five stars by Skytrax.

In an internal memo, the AeroGuard Flight Training Center in Phoenix said it saw "an alarming increase in solo incidents during cadet training," per Bloomberg.

It added that the incidents involved a wingtip colliding with a fixed object, a "bounced landing" leading to a "substantial" propellor strike, and a complete runway excursion.

"While each situation was unique, in each case the concern was the same — required consultation did not occur," the memo reportedly said.

Bloomberg also reported that the students didn't properly report the damage in two of the three incidents.

In a statement shared with Business Insider, Cathay Pacific acknowledged the events and added, "We are taking them seriously."

"These incidents involve our sponsored students, who will become our employees upon successful graduation from the training course," it said.

"They will then need to undergo additional structured training before being assigned any flying duty."

A source familiar with the situation told Bloomberg that the decision would affect around 150 of the 250 to 300 Cathay cadets training at the school.

The decision hinders Cathay's ongoing plans to increase its number of pilots after the pandemic, when the airline instituted steep pay cuts.

Several pilots quit during that time, with some telling Reuters that strict COVID measures in Hong Kong were affecting their mental health.

In the statement, Cathay Pacific said, "Safety guides every decision we make, and we fully support the decision of the training school."

"We will continue to prioritize the safety and well-being of our cadet pilots and crew members, and we remain dedicated to upholding the highest standards in our training programs," it added.

• Aid from Ukraine's allies is reaching frontline soldiers facing strong Russian attacks.
• But Ukrainian soldiers are still massively outgunned by Russian forces.
• US aid has resumed to Ukraine, but it takes time to gather, arrive, and be distributed.

Western military aid is reaching Ukrainian soldiers on the front line, but not at a scale that enables Ukraine to challenge Russia's artillery advantage.

Ukrainian troops in Vovchansk, in Ukraine's northeastern Kharkiv region, told The Telegraph that ammunition had started to reach their lines after the long US aid hiatus ended, but that they were still being outmatched by Russia.

"If we use 10 shells, they send 50 back," one artillery gunner told The Telegraph.

"Even if we receive the shells, our artillery barrels are old and worn out."

Russia started a new offensive in Kharkiv last month, and it has become one of the most intense areas of fighting, particularly because it is close to the border, which allows Russia to easily resupply and launch attacks.

The Telegraph's report suggests that the new supplies for Ukraine come from the US, where weaponry supplies to Ukraine have restarted after a six-month hiatus after Republicans stalled further assistance.

Ukraine has been receiving military aid from its allies throughout Russia's full-scale invasion, which started in February 2022.

But Russia is larger and has more resources, meaning that Ukrainian units have often been at a disadvantage.

Western aid has often come in fits and starts, too, as Ukraine's allies debate what and how much to give, leaving soldiers on the front lines struggling with shortages over different periods.

While the overall European contribution to Ukraine has been higher than what the US has given, the US has been its single largest donor, and the absence of its support was strongly felt on the battlefield.

Ukraine's soldiers said this year, as US support remained stalled, that they had to ration supplies, sometimes being unable to go after targets that they had identified.

Ukrainian President Volodymyr Zelenskyy said in April that Russia had 10 times as many artillery shells as Ukraine.

While some new weaponry from the US has already reached Ukrainian soldiers, getting supplies to Ukraine takes time.

It's unclear how much aid is expected to reach the soldiers in Kharkiv, or when it would arrive.

Washington DC-based think tank the Institute for the Study of War warned in an update this week that "Russian forces are attempting to make tactically and operationally significant gains before US military assistance arrives to Ukrainian forces at the frontline at scale."

It concluded that "the initial arrival of Western-provided weaponry will take some time to have tactical to operational effect on the frontline."

• Reddit cofounder Alexis Ohanian shared some of his secrets for success in a 2023 MasterClass episode.
• He said founders need to be generalists, build the right team, and get comfortable with rejection.
• Ohanian also emphasized the importance of shipping a product, even if it's in basic form. 

Alexis Ohanian cofounded Reddit when he was just 22 years old.

The former executive chairman started the company in June 2005 with his college roommate Steve Huffman. Just over a year later, the pair sold Reddit to Condé Nast for a reported $10 million.

Ohanian stepped down from Reddit's board in June 2020, but has kept a foot in the investing world.

Ohanian is a cofounder at Angel City, a board member of Apecoin, and has made more than 220 investments, according to PitchBook data.

In a 2023 episode of MasterClass, Ohanian explained what it's like to be on the other side of the investment table and shared his top tips for startup founders.

"Entrepreneurship is as simple as having ideas and doing them, and everyone is capable of it," he said, adding it had never been easier to become an entrepreneur.

"A founder today has more and more leverage than they did a decade ago. So many of the different components have been automated or semi-automated through software."

Being successful means being able to turn these ideas into a workable product, and having the resistance to keep going, Ohanian said.

1. Be a generalist

Part of being a successful start-up founder is being relentless and adaptable.

"Early on, you have to be willing to wear all the hats — you have to be willing to be a generalist," Ohanian said during the class.

Leaders need to be willing to take on jobs outside their comfort zone, even if they're not used to doing them. According to Ohanian, this attitude also needs to extend to early employees at start-ups.

"This scrappiness needs to infect not just the founding team but those early employees because you're going to find yourself in a situation where something just needs to get done," he said.

2. Ship something — even if it's basic

It's important to show investors that your ideas can work in the real world — even if it's a basic prototype.

"Minimum viable product" (MVP) is a term used in the start-up world to describe a product with enough features to attract early adopter customers and validate a product idea.

"It's something you can put in front of customers, or users, or potential clients, or partners. It's gives you some idea of whether or not your on the right track," Ohanian said.

This may be enough to draw in some investors, but building this foundation also means startups have something to work on and improve.

"Execution is everything," Ohanian said. "That's not just doing the work — that's doing the right work."

Figuring out your edge and continuously improving the product "is the most important thing you could spend your time on in those first six months," he added.

3. Get comfortable hearing no

Securing funding can be a lengthy process for start-ups.

Getting told no repeatedly is just a "part of fundraising," Ohanian said.

"There is not a single CEO out there who has not been told no more times than yes," he added. "The nature of being an entrepreneur is getting really comfortable hearing no."

Ohanian suggested that early founders focus on shipping something, even if it's basic, and sharing that widely on social media. Gaining a social profile could encourage investors to come directly to founders, allowing them to do less cold-calling.

4. Build the right team

Hiring the first employee is a major milestone for any startup, but it's also a decision that could make or break the company.

"Hiring well, hiring quickly is very hard to do; there's no hack," Ohanian said, noting that the rise of remote work had made the process even more complicated.

"The first 10 employees you hire are going to define the culture for the company for the rest of time. An ideal hire needs to be willing to help build the plane while you're flying it."

Ohanian recommended founders look outside their network when hiring and aggressively reach out to talent on platforms like X.

He also suggests founders focus on creating job ads that stand out: "In an environment where everyone is doing something the same way, being demonstrably different, it gives people something to want to talk about."

• NetJets has sued its pilots' union, accusing it of defamation over safety claims.
• The union took out an ad referencing the Boeing blowout, but NetJets doesn't operate any Boeing planes.
• "We view the lawsuit as an attempt to silence us," the union's president said this week.

NetJets, the private jet firm owned by Warren Buffett's Berkshire Hathaway, is suing its pilots' union.

Filed Monday in an Ohio state court, the lawsuit accuses the union of defaming NetJets.

The company sells ownership shares in private aircraft, giving customers the right to fly for a certain number of hours with short notice.

The lawsuit claims the 3,400-member NetJets Association of Shared Aircraft Pilots (NJASAP) made false statements about the safety of the company's operations.

In 2023, NJASAP said that training is being conducted by people "who have little to no knowledge of NetJets' standard operating procedures and aircraft," per the suit.

It adds that this year, the union published an article saying NetJets "persists in its effort to draw down a once vibrant safety culture."

The suit also said that in late January, the NJASAP took out an ad in The Wall Street Journal referencing the door plug blowout on an Alaska Airlines Boeing 737 Max, reading: "NetJets Owners: What if you looked out your window and saw a panel of the plane?"

That blowout sparked a crisis at Boeing as the planemaker works to improve its safety culture amid increased scrutiny from regulators.

However, NetJets doesn't operate any Boeing planes. Its lawyers said the ad was false and "clearly intended to alarm" customers.

NetJets is asking the court for unspecified damages and to prohibit the union from making more statements.

In a Wednesday press release, the NJASAP president, Pedor Leroux, said: "We view the lawsuit as an attempt to silence us."

"However, NJASAP has a federally protected right and an organizational and moral responsibility to our members — the NetJets pilots — and to our customers to raise safety issues, and we will continue to do just that," he added.

NetJets did not immediately respond to a request for comment from Business Insider outside US working hours.